SGX Nifty hints at muted start for benchmark indices BSE Sensex and NSE Nifty 50. Oil India, Nykaa, Tata Steel, Paytm among stocks to watch on Monday.
Indian benchmark indices are likely to open on a muted note, hinted SGX Nifty. On the Singapore Exchange, Nifty futures were in the red at 17838 level. In the previous session, Sensex closed 123 pts down at 60,683 and the Nifty ended 37 pts lower at 17,856. “Participants will first react to the IIP data in early trades on Monday. On the macroeconomic front, CPI and WPI Inflation on the domestic front and US inflation will be on focus during the week. Besides, movement in crude and rupee will also be on their radar for cues. We recommend continuing with a selective approach and preferring index majors and select midcap for long trades.” said Ajit Mishra, VP – Technical Research, Religare Broking.
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Stocks in focus on 13 February, Monday
Oil India: State-owned Oil India Ltd (OIL) reported its highest-ever quarterly net profit in the third quarter ended December 31 on the back of a rise in oil and natural gas prices. Net profit of Rs 1,746.10 crore, or Rs 16.10 per share, in October-December compared with Rs 1,244.90 crore, or Rs 11.48 a share, in the same period a year back, the company said in a statement. The company also announced an interim dividend of Rs 10 a share.
Tata Steel: The merger of 7 subsidiary companies with Tata Steel is expected to be completed in 2023-24 fiscal year, its CEO and managing director T V Narendran said. In September 2022, Tata Steel board had approved a proposal to merge six of its subsidiaries into itself for greater synergies, higher efficiency and reduce costs. The seven subsidiaries to be merged with Tata Steel are Angul Energy, Tata Steel Long Products (TSPL), The Tinplate Company of India, Tata Metaliks, TRF, Indian Steel & Wire Products, and Tata Steel Mining and S&T Mining Company.
Dish TV: DishTV India has reported a consolidated net loss of Rs 2.85 crore in the third quarter that ended December 2022, mainly due to a decline in revenue and promotion of its OTT platform. The company had reported a net profit of Rs 80.21 crore in the October-December quarter a year ago. Its revenue from the operation fell 22.31% to Rs 552.09 crore during the quarter under review as against Rs 710.67 crore of the corresponding quarter a year ago.
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Paytm: Chinese e-commerce giant Alibaba has offloaded its entire holding in online payments aggregator Paytm. Alibaba sold 21,431,822 shares of Paytm’s parent One97 Communications in a bulk deal on Friday, translating to about a 3.4% equity stake. Alibaba had, in January, already pared 3.1% of its 6.26% holding in Paytm. The Chinese company has been exiting its India investments, having already offloaded its stakes in Zomato and BigBasket earlier.
PB Fintech: The Policybazaar operator posted a consolidated loss of Rs 87.3 crore in the December quarter, significantly lower from Rs 298 crore in the same period of the previous year. Consolidated revenue was up 66.1 percent YoY at Rs 610 crore. Other income jumped 105.3 percent YoY to Rs 68.9 crore in the third quarter of the financial year 2022-23.
Delhivery: The logistics services provider posted a consolidated loss of Rs 195.65 crore in the December quarter, widening from a loss of Rs 126.5 crore in the year-ago period. EBITDA loss for the quarter stood at Rs 73.3 crore against a profit of Rs 54.2 crore in the corresponding period of the last fiscal. Consolidated revenue at Rs 1,823.8 crore was down 8.6 percent from the third quarter of the previous year.
Adani Green Energy: Moody’s Investors Service has affirmed the ratings on eight Adani Group companies, including Adani Green Energy. Moody’s has changed the outlook of four Adani Group companies—Adani Green Energy, Adani Green Energy Restricted Group, Adani Transmission Step-One, and Adani Electricity Mumbai—to “negative” from “stable”. It maintained a “stable” outlook for ffour others—Adani Ports and Special Economic Zone, Adani International Container Terminal, Adani Green Energy Restricted Group-2, and Adani Transmission Restricted Group 1.
Q3 Results today: FSN E-Commerce Ventures (Nykaa), Zee Entertainment, Power Finance Corporation, Sun Pharma Advanced Research Company, Shree Renuka Sugars, SAIL, Wockhardt, Ahluwalia Contracts, Allcargo Logistics, Bajaj Healthcare, Bajaj Hindusthan Sugar, BF Utilities, BGR Energy Systems, Campus Activewear, Castrol India, Godrej Industries, Greenply Industries, Grindwell Norton, GR Infraprojects, Gujarat State Petronet, Gujarat Gas, GVK Power & Infrastructure, HeidelbergCement India, Hinduja Global Solutions, Hindustan Oil Exploration, Hindware Home Innovation, HUDCO, ICRA, IFCI, Insecticides (India), IRB Infrastructure Developers, Indian Railway Finance Corporation, ISGEC Heavy Engineering, ITI, IVRCL, Krsnaa Diagnostics, Landmark Cars, Liberty Shoes, Linde India, Lumax Auto Technologies, Mcnally Bharat Engineering, MMTC, The New India Assurance Company, NLC India, Schneider Electric Infrastructure, Shalimar Paints, Texmo Pipes & Products, and Zuari Industries will report their quarterly earnings on February 13.
