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Stock Market Highlights: Sensex ends 814 pts higher, Nifty tops 17,300 ahead of Budget; Infy, Wipro, Tech Mahindra up 3-5%

Stock Market Highlights: Sensex ends 814 pts higher, Nifty tops 17,300 ahead of Budget; Infy, Wipro, Tech Mahindra up 3-5%

Stock Market Highlights: Sensex ends 814 pts higher, Nifty tops 17,300 ahead of Budget; Infy, Wipro, Tech Mahindra up 3-5%
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Stock Market Highlights: Indian equity benchmarks Sensex and Nifty50 jumped more than one percent each on Monday, rising a day ahead of the Union Budget for the first time in three years. Broad-based gains, led by IT, financial, oil & gas and auto shares, pushed the headline indices higher. The Nifty Midcap 100 and Nifty Smallcap 100 indices finished the day 1.6 percent and 1.1 percent higher respectively. The government forecasts GDP growth of 8-8.5 percent in FY23, and 9.2 percent in FY22, according to the Economic Survey, tabled in Parliament on Monday. All eyes were now on the upcoming Union Budget for FY23, to be presented by the Finance Minister in Parliament on Tuesday, February 1.

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Q3 Results | Tata Motors net loss at Rs 1,516 crore, revenue misses Street estimates

Tata Motors reported a consolidated net loss of Rs 1,516 crore for the October-December period, as against a net loss of Rs 2,906.5 crore for the corresponding period a year ago. The auto major's revenue decreased 4.5 percent on a year-on-year basis to Rs 72,229.3 crore.

Analysts in a CNBC-TV18 poll had estimated the company's quarterly net loss at Rs 1,101 crore and revenue at Rs 74,088 crore. 

Tata Motors posted Rs 7,078 crore in earnings before interest, taxes, depreciation and ammortisation (EBITDA) for the December quarter. Its EBITDA margin was at 9.8 percent in the October-December period, as against 16 percent in the year-ago period. 

Analysts had estimated the company's EBITDA at Rs 7,520 crore and EBITDA margin at 10.1 percent. 

Tata Motors said it expects its performance to improve in Q4 and beyond. (Read more on Tata Motors Q3 earnings)

Jan 31, 2022 5:13 PM

Economic Survey theme centered around 4 pillars, government has focused on short-term support to economy: CEA V Anantha Nageswaran

Jan 31, 2022 4:55 PM

Positive on real estate sector: Hemang Jani 

Hemang Jani of Motilal Oswal Financial Services has a positive view on the real estate sector. "We feel that this could be a 2-3 year kind of cycle because of the kind of uptick that we are seeing and the inventory cleaning up that is witnessed. We think that people would really want to own real estate in their portfolios and within that, we have a liking for names like Lodha and Oberoi, because of better traction and better valuations," he said. 

Jani also has DLF and few Bangalore-based companies in his preferred list. "We think both Lodha and Oberoi are looking quite interesting given the kind of traction and the valuation comfort, which is there," he said. 

Jan 31, 2022 4:47 PM

Select IT stocks hold value from longer-term perspective: Prashant Khemka 

Prashant Khemka, Founder of White Oak Capital Management, sees value in select IT stocks from a longer-term perspective. “Over a course of any reasonable time period measured beyond days or weeks, IT stocks would reflect the progress of fundamentals, and ultimately, the cash flow generation and growth thereof. So our team would not agree to the conclusion that IT stocks are overvalued. They have done extremely well over the last 12 months but that is because they started from very supressed levels," he said. 

"The sector was sort of written off as a mature sector, a slow growth sector for various reasons but the growth delivered has been very strong and continues to be very strong," he added. 

Jan 31, 2022 4:37 PM

Market At Close | Sensex, Nifty rise on previous day of Budget for 1st time in 3 years

Here are some highlights: 

--All sectoral indices rise; realty, PSU bank, IT top gaining indices

--42 of 50 Nifty stocks in the green; Tech Mahindra, Tata Motors, BPCL top gainers

--Nifty Bank gains 286 points to 37,975; midcap index up 469 points at 30,274

--IndusInd Bank, Kotak Mahindra Bank see profit booking

--UPL falls 1%, Sun Pharma rises 1% after Q3 earnings

--IT stocks continue to rise; all Nifty IT constituents in the green

--Midcap IT stocks jump; Info Edge, Mindtree, Birlasoft top gainers

--Canara Bank continues to rise after strong Q3 earnings, hits 52-week high

--Bank of Baroda, IDFC hit 52-week highs 

--Exide falls 1% after company reports weak Q3 numbers

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

Jan 31, 2022 4:17 PM

Market At Close | Tech Mahindra, Tata Motors, Wipro, BPCL, Bajaj Finserv top blue-chip gainers

Infosys, SBI, SBI Life, PowerGrid and Divi's were also among the top gainers. On the other hand, IndusInd Bank, Kotak Mahindra Bank, Coal India, UPL, Hindustan Unilever and Hindalco were the only laggards in the Nifty50 pack. 

Here's how the 30-scrip basket fared:

Stock Market Highlights: Sensex ends 814 pts higher, Nifty tops 17,300 ahead of Budget; Infy, Wipro, Tech Mahindra up 3-5%
Jan 31, 2022 4:06 PM

Rupee ends higher at 74.61 vs US dollar

The rupee closed at 74.61 against the greenback. On Friday, it had settled at 75.05.

Stock Market Highlights: Sensex ends 814 pts higher, Nifty tops 17,300 ahead of Budget; Infy, Wipro, Tech Mahindra up 3-5%
Jan 31, 2022 3:51 PM

Closing Bell | Sensex up 814 points at 58,014, Nifty at 17,340

Both headline indices finished with a gain of 1.4 percent, rising a day ahead of the presentation of Union Budget in Parliament for the first time in three years. The 30-scrip index rose 813.9 points to end at 58,014.2 and the broader Nifty50 benchmark settled at 17,339.9, up 237.9 points from its previous close. 

Jan 31, 2022 3:37 PM

HCL Tech extends partnership with Sweden's Husqvarna Group 

HCL Technologies shares were up 1.7 percent at Rs 1,099 apiece on BSE minutes before the closing bell. 

Jan 31, 2022 3:31 PM

Alkem Labs in exclusive agreement with John Hopkins


Alkem Lab enters into an agreement with John Hopkins University for the treatment of colorectal cancer. Nifty Pharma index rose 1.5 percent led by Alkem Laboratories, Cadila Healthcare, Dr Reddy's Laboratories 

Jan 31, 2022 3:17 PM

Govt approves sale of Neelachal Ispat to Tata Steel Long Products

Shares of Tata Steel Long Products were trading at Rs 807.50, up Rs 83.50, or 11.53 percent. It has touched an intraday high of Rs 837.25 and an intraday low of Rs 726.05.

Jan 31, 2022 3:11 PM

European shares advance ahead of central bank meetings

European shares rose on Monday, rebounding from their worst week in more than two months, as investors looked forward to the UK and European central bank meetings amid worries over policy tightening, soaring inflation and geopolitical tensions. The pan-European STOXX 600 added 0.9%, with tech stocks climbing 2% after dropping 13% so far this month.

Jan 31, 2022 3:01 PM

Karur Vysya Bank Q3 net profit at Rs 185.5 crore; NII up 18% at Rs 687.2 crore YoY

Karur Vysya reported its December quarter earnings on Monday. The bank reported net profit at Rs 185.5 crore against Rs 34.6 crore (YoY). NII grew 17.8% at Rs 687.2 crore against Rs 583.6 crore (YoY). Gross NPA at 7% against 7.4% (QoQ); Net NPA at 2.6% against 3% (QoQ).

Jan 31, 2022 2:55 PM

Exide Industries Q3 net profit down 26%; revenue up 14.5%

Exide Industries consolidated net profit went down 26% to Rs 178 crore against Rs 240 crore (YoY). Consolidated revenue was up 14.5% at Rs 3,312 crore against Rs 2,891 crore (YoY). Consolidated EBITDA slipped 5% at Rs 380.2 crore against Rs 400 crore (YoY). Consolidated EBITDA margin at  11.5% against 13.8% (YoY).

Jan 31, 2022 2:46 PM

Infibeam Avenues Q3 net profit up 34%; approves bonus share issue

Infibeam Avenues approves bonus share issue in the ratio of 1:1. The company's Q3 net profit was up 34.4% at Rs 25 crore against Rs 18.6 crore and revenue was up 27.7% at Rs 397 crore versus Rs 311 crore, QoQ. Infibeam Avenues was quoting at Rs 45.85, down Rs 0.60, or 1.29 percent on the BSE. 

Jan 31, 2022 2:35 PM

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