News Shots

Market regulator SEBI has banned Future Group Chief Executive Kishore Biyani and his brother Anil from entering the securities market for 1 whole year after investigating insider trading in Future Retail in 2017.

Bharti Airtel posted a net profit of Rs 854 crore for Q3 after six quarters of losses. The telecom giant’s return was due to a one-time gain related to the merger of Bharti Infratel and Indus Towers. Board has approved raising Rs 7,500 crores via the debt market.

Societe Generali buys a 1.8 per cent stake in PVR through a bulk deal.

Infibeam Avenues board will meet on February 11th to consider the issue of bonus shares.

Hero MotoCorp has set up a separate vertical to drive its new business of Harley-Davidson products and merchandise distribution in India. 

Indian Hotels, a Tata group company running hotels including the Taj, reported a net loss of Rs 133.22 crore for Q3, due to the impact of the coronavirus pandemic on tourism.

Tech Mahindra sees growth in the size of the company, and is expecting 5,000 freshers to join its workforce by June this year.

HCL Technologies has announced a global strategic alliance with Alteryx to speed up automation of data research and digital transformation for Global 2000 enterprises.

PSP Projects has received Letter of Intent for a project worth Rs 588.62 crore from a private developer at Ahmedabad, Gujarat. Further the company has been ranked the L1 bidder by a regulatory authority for projects totalling to Rs 1,249.41 crore for construction of medical colleges in Uttar Pradesh.

Adani Green Energy reported a 33 times jump in net profit to Rs 285 crore in Q3, on the back of increased solar capacity and generation, and the parent group’s partnership with French energy giant Total.

Apollo Tyres reported a more than two-fold increase in consolidated net profit to Rs 444 crore.

Major Q3 results to be announced today:

  • State Bank of India
  • Hero MotoCorp
  • Hindustan Petroleum
  • Ipca Labs
  • NTPC
  • Tata Power
  • Trend
  • Whirlpool of India
  • Zee Entertainment
  • Godrej Properties

What to expect today?

Yesterday, NIFTY shot up by another 200 points to close near 14,800, supported by Pharma and PSU Banks. You can read all about yesterday’s movements here.

Bank Nifty continues to be more bullish than NIFTY, reaching nearly 35,000. It closed 1.43% above at 34,758.

NIFTY has moved 1250 points in 3 days now! Normally, it is time to expect consolidation/cooling down. Global markets have also cooled down thereby we can expect the same in NIFTY as well.

Europe and US closed flat, with a negative bias. Asian markets are also mostly trading lower. SGX NIFTY is trading higher at 14,849, indicating a flat to gap up opening in the Indian Market. 

Looking at the global markets, even if NIFTY opens with a gap up, it will be difficult to sustain it. I feel NIFTY will move down today.

If moving up, watch out for yesterday’s high of 14,870. Moving down, NIFTY has support at 14,600 and 14,500.

Highest Call Open Interest at 15,000, followed by 16,000. Highest Put Open Interest at 14,000, followed by 14,500. 

SBI is to announce its result today. So a lot of focus will be on it. Also, HeroMotocorp announcing their result is pulling a lot of attention to the auto stocks.

Foreign institutional investors (FIIs) net bought shares worth Rs 2,520 crore, and domestic institutional investors (DIIs) net sold shares worth Rs 399 crore in the Indian equity market.

There was calmness in the market yesterday. Given that today is weekly expiry, we can expect some volatility.

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

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