Market Updates: Quarterly result, stocks in news, Sensex and Nifty 

 

Today’s market updates & Quarterly result of Nifty stocks: It was a flat start for the Indian market today on 24th January. The Indian market was trading in a positive territory today for the second consecutive day after taking support from the global markets.

Other than December’s quarterly result, traders also took positively the Union Minister Piyush Goyals statement that the Indian economy is well poised to take off, there is a lot of enthusiasm for making investments in the country.

 

Sensex & Nifty after Quarterly result

In the end, Nifty gained 67.90 points and at 12248.25 while Sensex was up 226.79 points and at 41613.19. The PSU and Pvt Sectors banks have lifted the Bank Nifty index  today by 237.70 points and closed at 31241.75

The Nifty midcap and smallcap index have continued its northward journey. The Nifty midcap 100 has gained167.20 points or 0.92% and closed at 18357.20. Whereas the Nifty smallcap index was up 49.45 points or 0.79% and closed at 6345.05.

The top five Nifty50 gainers are Yes Bank, Ultratech Cement, Britannia, Tech Mahindra, and Kotak Mahindra Bank. The losers in Nifty50 stocks are Power Grid Corp, Cipla, IndusInd Bank, Tata Motors and BPCL.

In the midcap space, the gainers are AU Small Finance, Quess Corp and the losers are PNB Housing Finance, Edelweiss. The gainers in the Nifty smallcap space are JK Lakshmi Cement, Wockhardt, and the losers are Jet Airways, Welspun India.

On a sectoral basis, the gainers are Banking & Finance, Infrastructure, Industrial gasses, Metals, FMCG and Insurance. On the losing side IT & Software, Oil & Gas, and Container packaging. 

Yesterday FII’s bought and DIIs sold in the cash segment. For today’s FIIs and DIIs position you can check the link after 6 pm 

 

Stocks in news due to Quarterly result

Atul has reported ist December quarterly results. Its consolidated net profit grew 44.3% at Rs 169 crore as compared to Rs 117 crore on YoY basis. The company’s consolidated revenue went up by 1% at Rs 1041.4 crore compared to 1031.5 crore on YoY basis. The share price of Atul has gained 4.90% and closed at Rs 4596.45 per share.

Supreme Industries reported December end quarterly results today. The consolidated net profit of the company rose by 52.4% at Rs 123.4 crore as against Rs 81 crore. Its revenue was down 2.6% at Rs 1373.3 crore as compared to Rs 1410.4 crore on YoY. The share price of Supreme Industries was down 0.17% and closed at 1320.95 per share.

Ultratech Cement Quarterly result was good. The company reported consolidated net profit rose by 90.2% at Rs 711.3 crore as compared to Rs 374.1 crore. The revenue was down at Rs 10,354 crore versus Rs 10,444 crore YoY basis. The share price of Ultratech Cement gained 2.57% and closed at Rs 4642.75 per share

The Q3 net profit of Zensar Technologies fell 50.6% at Rs 39.5 crore as comp[ared to Rs 79.9 crore, Its revenue was also down by 4.8% at Rs 1020.6 crore compared 1072.3 crore on QoQ basis. The share price of Zensar Technologies fell 12.32% and closed at Rs 174.40 per share.

The Net profit of Indian Bank rose by 62.4% at Rs 247.2 crore as compared to Rs 153.3 crore. The NII was up 13.9% at Rs 1955.2 crore compared to Rs 1716.7 crore on YoY basis. The share price of Indian bank gained 2.34% and closed at Rs 106.95 per share.

Banking & Fiance stocks are in news

After the SBI Chairman Rajnish Kumar had indicated that the private lender like Yes Bank will not be allowed to fail. The share price of Yes Bank remained on an upward journey for consecutively for second days. The share price of Yes Bank gained 4.52% and closed at Rs 42.80 per share.

PNB Housing Finance has reported a weak set of December quarterly result. The company has posted 22% degrowth in its December end quarter its net profit is at Rs 237 crore as compared to Rs 303 crore on YoY basis. The share price of PNB Housing Finance has declined 10.55% and closed at Rs 482.75 per share.

The foreign brokerage house Credit Suisse had invested in Indiabulls Housing Finance through a bulk deal. Credit Suisse has bought 2293306 shares of the company at an average price of Rs 311.68 per share with a cumulative value of Rs 71.5 crore. The share price of Indiabulls Housing Finance gained 3.08% and closed at Rs 322.60 per share.

Pharma Stocks in the news today

Alembic Pharma has got final approval for its Abbreviated New Drug Application (ANDA) from USFDA. The share price of Alembic Pharma gained 0.18% and closed at Rs 589.85 per share.

A Singapore based wholly-owned subsidiary company of Stride Pharma has received tentative approval for a new drug from USFDA. The share price of Stride pharma gained 0.67% and closed at Rs 414.85 per share.

 

Other stocks in the news today

The Petroleum and Natural Gas Regulatory Board (PNGRB) has issued a notice to Adani Gas for not disclosing certain crucial information. The share price of Adani Gas gained 1.36% and closed at Rs 175.25 per share.

Morgan Stanley has retained buy rating on PVR and raised the target price to Rs 2350 per share. The share price of PVR has gained 3.12% and closed at Rs 19589.25 per share.

Godrej Properties is launching luxurious residential development at RK Studio at Chembur. The share price of Godrej Properties gained 3.20% and closed at Rs 1053 per share.

KEI Industries has passed a resolution for raising of funds by way of issue of equity shares, through a QIP. The share price of KEI Industries gained 4.58% and closed at Rs  547.95 per share.

Maruti Suzuki has started exporting his S-PRESSO care to overseas market. The share price of Maruti Suzuki has declined by 0.26%  and closed at Rs 7128.45 per share.

 

Crude and Rupee updates

The Brent crude oil future is trading lower today. It is trading at $61.77 per barrel, almost 0.46% down from yesterday’s close. The Indian rupee is trading at has got 0.10% appreciation from yesterday’s close, it is currently trading at Rs 71.34 against the US dollar.

 

Conclusions:

Indian market has gained for the second consecutive day today on hopes of growth to be accelerated soon and positive quarterly result. The global market was also supportive for the last two days. Technically Nifty ( on spot) has taken support near 12100 level.  

Indian market is looking positive but traders should remain cautious next week because of the two most important events. One is monthly derivatives expiry on Thursday and the most important one is Budget 2020 on Saturday, 1st February.

 

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Happy Investing!!

Editor’s Desk