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    Stock Market Highlights: Sensex ends 657 pts higher, Nifty reclaims 17,450; Maruti up 4%, Adani Wilmar surges 20%

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    Stock Market Highlights: Sensex ends 657 pts higher, Nifty reclaims 17,450; Maruti up 4%, Adani Wilmar surges 20%

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    Stock Market Highlights: Indian equity benchmarks Sensex and Nifty50 extended gains to a second straight day on Wednesday, as investors awaited the outcome of the RBI's policy review due the next day. Gains across most sectors pushed the headline indices higher, with financial, auto, IT and consumer stocks being the biggest movers. Broader markets strengthened, with the Nifty Midcap 100 index rising 1.1 percent and its smallcap counterpart 0.4 percent.

    Stock Market Highlights: Sensex ends 657 pts higher, Nifty reclaims 17,450; Maruti up 4%, Adani Wilmar surges 20%
    • Thank you, readers! That's all from CNBC-TV18.com's live market coverage on February 9, 2022. Stay tuned for other updates on our website: CNBCTV18.com.

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    • Expect rupee to move within 74.50-75.20 range in near term: Anindya Banerjee

      Anindya Banerjee, DVP-Currency Derivatives and Interest Rate Derivatives at Kotak Securities, expects the rupee to move within a range of 74.50-75.20 against the greenback in the near term. 

      "Volumes remained lower than usual ahead of the RBI monetary policy on Thursday. The rupee requires a hawkish policy to appreciate but a dovish continuation from the central bank can be slightly negative. We expect the RBI to maintain a status quo on rates with a slightly hawkish policy statement," he adds. 

    • View | Tug of war in the markets; who will win?

      Senora Advisors Co-Founders Mridul Jalan and Sweta Jain expect the micro to win over the macro in the medium term. Indian markets are at a tug of war, they write, with macro headwinds on one side and improving micros on the other. (Read more)

    • No plan to merge Vedanta Resources with Vedanta: Anil Agarwal

      Vedanta Resources will not be merged with Vedanta, Founder Anil Agarwal says in an exclusive interview to CNBC-TV18. Vedanta Resources is the parent company of Vedanta. He also says there are no plans to de-list from the exchanges.

      "We are very comfortable to service the debt on the top so we have clarified very clearly that this will be our position - there is no question to merge parent company with Vedanta Limited," he said. (Read more)

      Vedanta shares finish the day up 1.8 percent at Rs 376.2. 

    • Market At Close | Banking, auto stocks help Sensex, Nifty extend gains to 2nd day

      Here are some highlights: 

      --HDFC Bank, Reliance, Infosys, ICICI Bank top Nifty movers

      --HDFC Bank contributes more than 300 points to Nifty Bank’s 588-point gain 

      --Nifty Bank gains 582 points to 38,610 

      --Midcap index up 340 points at 30,257

      --Auto top gaining index; all constituents in the green

      --Hero MotoCorp, Bajaj Auto, Maruti rise 2-3 percent

      --Bharti Airtel rises 2% on Q3 earnings, company expects to hit Rs 200 ARPU in 2022 

      --ONGC top Nifty loser; crude near $90/barrel

      --Coal India considering 2nd interim dividend, stock gains 5 percent

      --Abbott rises 7 percent, Bosch 1 percent after improvement in earnings 

      --Adani Wilmar extends listing-day gains, up 20 percent 

      --Market breadth neutral; advance-decline ratio at 1:1

    • Rupee ends lower at 74.81 vs US dollar

      The rupee settles at 74.81 against the greenback. On Tuesday, it had closed at 74.75.

      Stock Market Highlights: Sensex ends 657 pts higher, Nifty reclaims 17,450; Maruti up 4%, Adani Wilmar surges 20%
    • AMFI Data | Retail investors remain optimistic, says Motilal Oswal AMC's Akhil Chaturvedi

      Akhil Chaturvedi, Chief Business Officer of Motilal Oswal Asset Management Company, said retail investors continue to maintain an optimistic stance when it comes investing on market dips. "On one hand, we are seeing FII outflows, on the other, we are seeing positive flows from domestic investors. This is a very positive change amongst investors," he says. 

      "It is always advisable to buy on dips for better rupee-cost averaging resulting in good outcomes in the long term. It is also encouraging to see positive flows in dynamic category, as most asset-allocation models are maintaining a good mix of debt and equity allocation to benefit from market corrections, and increasing equity allocations,” he adds. (Read more on MF data)

    • From Paytm to Latent View: How Dalal Street is reading new-age companies' Q3 results

      Newly-listed new-age companies have begun 2022 with a mixed bag of earnings so far. Investors have punished several startup stocks in the recent past, from the likes of Paytm, PB Fintech and CarTrade. Here's why. (Read more on new-age stocks)

    • Market At Close | Coal India, Maruti, Indian Oil, Shree Cement, Hindalco top blue-chip gainers 

      --IndusInd, Bajaj Auto, HDFC Bank, Hero MotoCorp and Adani Ports also among the gainers

      --ONGC, BPCL, ITC, SBI Life worst hit among 8 Nifty laggards

      How the 30-scrip basket fared:

      Stock Market Highlights: Sensex ends 657 pts higher, Nifty reclaims 17,450; Maruti up 4%, Adani Wilmar surges 20%
    • Closing Bell | Sensex up 657 points at 58,466, Nifty50 tops 17,450

      Both headline indices close 1.1 percent higher, extending gains to a second straight day. The Sensex rises 657.4 points to end at 58,466, and the Nifty50 settles at 17,463.8, up 197.1 points from its previous close. 

    • Bharti Airtel says it may achieve Rs 200 average revenue per user (ARPU) in 2022 itself

    • Q3 Results | Abbott India's net profit up 12.5% at Rs 199.2 crore

      Abbott India surges over 6 percent after the company posted 11.8 percent jump in its Q3 revenue at Rs 1,224.4 crore. Revenue stood at Rs 1,095.4 crore last year at the same time. Net profit was up 12.5 percent at Rs 199.2 crore versus Rs 177.1 crore, YoY.

    • JSPL gains over 2%; January steel sales up 20%

      JSPL up 2.3 percent after the company posted a 20 percent increase (YoY) in sales volume to 6.95 lakh tonnes in January 22 as compared to 5.81 lakh tonnes in January 21. Marginal improvement in rake availability during the month, resulted in export share rising to 31 percent from 28 percent in December 21.

    • Market Watch | Buy Federal Bank, Rain Industries: Aditya Agarwala, Yes Securities

      - Rain Industries is a buy with a stop loss of Rs 220 and target of Rs 255

      - Federal Bank is a buy with a stop loss of Rs 99 and target of Rs 107

    • Metal price at 13-year high, aluminium stocks gain

      Hindalco Industries up over 2 percent and National Aluminium Company gains over 3 percent as the price of the metal crosses $3,200 a tonne - a 13-year high. Concerns that the supply-demand gap could lead to a tight market for aluminium in 2022 led to a price rise of more than 14 percent in the international market this year.

    • Vedanta follows a disciplined capital allocation policy: Anil Agarwal

      Anil Agarwal of Vedanta Ltd says the company won't fund the BPCL deal if it happens. Vedanta follows a disciplined capital allocation policy, he added.

    • Q3 Results | DCB Bank net profit down 22%

      DCB Bank down over 3 percent after the company reported a 21.6 percent decline in net profit against Rs 96.2 crore (YoY). Gross NPAs at 4.73 percent against 4.68 percent (QoQ). The stock touched an intraday high of Rs 88.55 and an intraday low of Rs 84.60.

    • L&T shares up 1% on order win

      Larsen & Toubro up 1 percent after the company said its construction arm secured an order from the Bangladesh Hi-Tech Park Authority to construct Hi-Tech IT Parks at 8 locations across Bangladesh.

    • Risk of larger move in market higher this year: JPMorgan's Sanjay Mookim

      Sanjay Mookim, Strategist and Head of India-Equity Research at JPMorgan India, says the risk of a larger move in the market is higher this year. He believes that external letdowns could lead to draw-downs in India.

      What happens with equities and global markets could have an impact on India more than any domestic factor, he adds. (Read more)

    • Vedanta up 2% after co said won't rejig corporate structure, CLSA maintains 'outperform'

      Vedanta Ltd up 2 percent on BSE after the metal major dismissed the plans to rejig its corporate structure, after completing its reorganisation review. CLSA has maintained its "outperform" rating on Vedanta shares with a target price of Rs 350.

    • Buy Rain Industries, Federal Bank: Aditya Agarwala

      Aditya Agarwala of Yes Securities shares two trading calls: 

      --Buy Rain Industries for a target of Rs 255 with a stop loss at Rs 220 

      --Buy Federal Bank for a target of Rs 107 with a stop loss at Rs 99 

    • Bosch to invest Rs 1,000 crore over 5 years for localisation of auto tech

      Bosch shares up 1.6 percent at Rs 16,328 in late afternoon deals, having risen as much as four percent earlier in the day. 

      Bosch Q3 FY22 Q3 FY21
      Net profit 234.8 185.6
      Revenue 3,109 3,030
      EBITDA 357.4 358.1
      Margin 11.50% 11.80%
      All figures in crore rupees

      The company's automotive product earnings before interest and taxes (EBIT) at Rs 387 crore in Q3, as against Rs 144.2 crore in the year-ago period.

    • Mutual Fund Data | Net equity inflow down 41.8% sequentially in January 

        January 2022 December 2021
      Net equity inflow  14,552.30 24,990
      Hybrid fund inflow 6,230 563
      Liquid fund outflow 14,398 `8,685
      ETF inflow 4,009     13,551
      Credit risk outflow 197 47
      Total debt scheme inflow 5,088 49,038
      Corp bond fund outflow 936 4,306
      Total AUM  38.01 lakh 37.73 lakh
      *All figures in crore rupees
    • Borosil Renewables expects solar glass demand to rise

      Pradeep Kheruka, Chairman of Borosil Renewables, tells CNBC-TV18 that solar demand is visible across the world. “People do not see the price of oil or natural gas coming down in the near term, therefore solar energy would still give them a dependable source of supply at a more predictable price," he adds. (Read more)

      borosil Renewables stock down 0.9 percent at Rs 668.9. 

    • Adani Wilmar shares locked in 20% upper circuit
       
      Adani Wilmar shares, which began their journey in the secondary market on Tuesday, locked in the 20 percent upper circuit at Rs 318.2. 
       
      Manoj Dalmia, Founder and Director at Proficient Equities, believes investors can consider Adani Wilmar shares on a long-term basis. The best buying strategy, he suggest, could be buying on dips.
       
      The stock looks favourable post-listing, according to Ravi Singhal, Vice-Chairman at GCL Securities. One may opt for buying with a target price of Rs 377 for the next one month.
       
      Ravi Singh, Vice President and Head of Research at ShareIndia, believes Adani Wilmar is attractive from a long-term perspective. Buying on dips is recommended for a target of Rs. 350-380 in the medium term, he says. 
    • Changes in GST framework likely this year: Revenue Secretary 

    • Eveready Industries plans price hike of 5-10% in April 

      Amritanshu Khaitan, MD, Eveready Industries India, tells CNBC-TV18 the company plans to take a price hike of 5-10 percent in April. He believes price hikes will aid the company in offsetting increased costs. The company has already taken price hikes in batteries, he adds. (Read more)

      The stock down 0.3 percent at Rs 286.2. 

      Eveready reported its Q3 results last week. Its profit fell 51.4 percent to Rs 23.7 crore and revenue declined 4.2 percent to Rs 325.9 crore.

    • Godrej Consumer Products off day's low

      Godrej Consumer shares down 2.5 percent at Rs 856.8, having declined as much as 3.5 percent earlier in the day. 

      Stock Market Highlights: Sensex ends 657 pts higher, Nifty reclaims 17,450; Maruti up 4%, Adani Wilmar surges 20%
    • Volume growth to be under pressure for next few quarters: Godrej Consumer CEO

      Sudhir Sitapati, CEO of Godrej Consumer, tells CNBC-TV18 that hyperinflation in commodities is impacting the company's volume growth, which will be under pressure for the next few quarters. Volume growth has been flattish across categories, he says. 

      The company's inventory has thinned down in the current hyperinflation situation, and its household insecticides segment remains an unsolved problem, he adds. 

      He expects the gross margin to improve sequentially, and the EBITDA margin to see a mid-range recovery.

      Stock Market Highlights: Sensex ends 657 pts higher, Nifty reclaims 17,450; Maruti up 4%, Adani Wilmar surges 20%
    • BFSI Stocks Rise | HDFC Bank, Bajaj Finserv, M&M Financial, IndusInd, SBI Cards at day's highs

      Nifty Bank stock Change (%)
      INDUSINDBK 3.4
      FEDERALBNK 3.3
      HDFCBANK 1.9
      AUBANK 1.4
      AXISBANK 1.0
      ICICIBANK 0.9
      KOTAKBANK 0.8
      BANDHANBNK 0.7
      IDFCFIRSTB 0.4
      SBIN 0.2
      RBLBANK -0.1
      PNB -0.6
    Stock Market Highlights
    : Indian equity benchmarks Sensex and Nifty50 extended gains to a second straight day on Wednesday, as investors awaited the outcome of the RBI's policy review due the next day. Gains across most sectors pushed the headline indices higher, with financial, auto, IT and consumer stocks being the biggest movers. Broader markets strengthened, with the Nifty Midcap 100 index rising 1.1 percent and its smallcap counterpart 0.4 percent.

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