News Shots

Future Retail has received a communication from Amazon informing about a petition filed under Section 17(2) of Arbitration and Conciliation Act, 1996 in Delhi High Court. Future has informed that it will defend the petition in court.

GAIL is planning to launch an InvIT (Infrastructure Investment Trust) of its two gas pipelines between Dahej and Bengaluru. This is ahead of a proposed demerger or splitting of the pipeline business from the gas marketing function.

Kotak Mahindra Bank’s consolidated profit after tax (PAT) grew 11% to Rs 2,602 crore in Q3 of this financial year.

Larsen & Toubro reported higher consolidated profit at Rs 2,466.7 crore in Q3FY21 against Rs 2,352 crore in Q3FY20. This happened as revenue fell to Rs 35,596.4 crore from Rs 36,243 crore YoY.

Indiabulls Real Estate is expecting a net surplus of nearly Rs 11,400 crore from its completed and ongoing real estate projects. In an investor presentation, the company informed that its new sales bookings stood at Rs 990 crore in the third quarter of this fiscal and Rs 1,359 crore during April-December period.

Inox Leisure has started commercial operations at a new multiplex at Thane, in Maharashtra, taking its total screen count to 151.

Tata Motors has unveiled its upcoming flagship SUV Safari and is set to commence bookings for the model from the next month. 

Agro Tech Foods has successfully restarted its commercial production and operations at its Unnao plant in UP.

NTPC has said Tamil Nadu Energy Company Limited (NTECL) has paid an interim dividend of over Rs 47.55 crores towards its 50% holding in the firm.

Public sector UCO Bank reported a net profit of Rs 35.44 crore Q3, but on account of lower provisioning for bad loans.

ICICI Securities has reported a 95% jump in profit after tax to Rs 267 crore Q3 on account of growth in revenue and improvement in margins.

Sharda Cropchem reported sharply higher consolidated profit at Rs 48.3 crore in Q3FY21 against Rs 5.86 crore in Q3FY20, revenue rose to Rs 493.8 crore from Rs 382.4 crore YoY. The company has appointed Ashok Kumar Vashisht as Chief Financial Officer.

RPG Life Sciences reported sharply higher profit at Rs 12.87 crore in Q3FY21 against Rs 7.9 crore in Q3FY20, revenue jumped to Rs 107.6 crore from Rs 94.4 crore YoY.

Major Q3 results to be announced today:

  • Hindustan Unilever
  • Axis Bank
  • ICICI Prudential Life
  • Marico
  • United Spirits
  • Bank of Baroda
  • Canara Bank
  • Emami
  • PNB Housing
  • Nippon LIfe Asset Management
  • India Cements

What to expect today?

NIFTY continued its fall. It fell another 200 points to close below 14,250. You can read all about Monday’s movements here.

Bank Nifty, interestingly, was not very weak and closed in the green. 31,000 acted as a very strong support for Bank NIFTY.

NIFTY PHARMA was the only sectoral index to do well on Monday, with few good results and government approvals coming in.

Looking into what is happening globally, the US markets have been closing lower, forming red candles, indicating bearishness. This is leading to bearishness in markets all around the globe.

But there are hopes today. The Federal Reserve will announce its policy today and that can bring positivity into the market. Also, tech majors like Facebook, Microsoft, Apple, Tesla etc will announce their results today. 

Looking into local cues, I hope you all saw the unfortunate events during the Farmer’s Protest in Delhi. These issues definitely affect the market. SGX NIFTY hit a low of 14,014 yesterday, due to the panic created by this event.

Europe closed in the green. US markets closed lower. Asian markets are mixed. SGX NIFTY is trading lower at 14,141, indicating a gap down opening in the Indian Market. 

We have to watch and understand the trend of NIFTY after it opens with a gap down. Like all the previous days, the first hour is important to see whether NIFTY is breaking up/breaking down. ORB strategy can be followed. 

With good and bad cues around, and the ongoing bearishness, high volatility can be expected.

Reliance dragged NIFTY down on Monday while HDFC Bank moved up. Let’s keep an eye on these heavy weights to understand what the trend of the day can be.

Moving up, NIFTY has resistance at 14,260. Breaking that today might give a larger up move. On the lower side, let’s see if 14,100 will act as a support. Below that, 14,000 is definitely a strong support.

Highest Call Open Interest at 15,000, followed by 14,500. Highest Put Open Interest at 14,000, followed by 14,200. 

Foreign institutional investors (FIIs) net sold shares worth Rs 765 crore, and domestic institutional investors (DIIs) net sold shares worth Rs 387 crore in the Indian equity market.

Follow us on marketfeed app’s livefeed section to get real time updates from the market. All the best for the day!