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Maruti Suzuki reported production in January was down 10% to 1.6 lakh units from 1.79 lakh units.

Delhi government has decided to reduce circle rates of residential, commercial, industrial properties in Delhi by 20% across all categories for the next six months. This will reduce taxes and make properties cheaper. Realty companies to benefit.

Subsidiary of Adani Enterprises, Adani Airports Holdings Ltd, has acquired 23.5% stake in Mumbai International Airport for Rs 1,685.25 crore.

Hindustan Aeronautics Ltd(HAL) along with Rolls-Royce have agreed to expand their partnership in India for Civil and Defence aircrafts supply chain while also supporting global customers of Rolls-Royce aircrafts with maintenance.

BEML has signed Memorandum of Understandings with 11 entities to explore & enhance business in defence & aerospace.

Himatsingka Seide has reported a consolidated profit at Rs 45.1 crore in Q3 FY21 against Rs 2.8 crore in Q3 FY20. The company is involved in manufacturing home textile products.

NTPC hydropower project has been hit by the unfortunate avalanche and flood in Uttarakhand.

Ashoka Buildcon reported a consolidated profit of Rs 88.4 crore in Q3 vst Rs 32.4 crore last year, revenue increased to Rs 1,305.5 crore from Rs 1,280.4 crore YoY. The company also bagged an order from NTPC Renewable Energy Ltd. worth Rs 503 crore for a 150 MW solar project in Rajasthan.

JK Cements reported Net profit up 75% YoY at Rs 217.3 crore in Q3 from Rs 124.3 crore. Revenue was up 25% to Rs 1,832 crore.

Punjab National Bank(PNB) reported Net Interest Income up 91% YoY at Rs 8,312.9 crore in Q3. Net profit of Rs 506 crore has been reported against net loss of Rs 492.3 crore last year this quarter.

Rashtriya Chemicals and Fertilisers(RCF) reported revenue down 8% YoY at Rs 2,047.9 crore. Net profit has increased 26% to Rs 98.7 crore. Fertiliser segment revenue down, industrial segment revenue up.

Promoter Max Ventures Investment Holdings has revoked pledge of 15.79 lakh shares in Max Financial Services.

Major Q3 results to be announced today:

  • BPCL
  • Aditya Birla Fashion & Retail
  • Astrazeneca Pharma
  • Balaji Amines
  • Balkrishna Industries
  • EID Parry, Galaxy Surfactants
  • Godrej Consumer Products
  • NMDC
  • Star Cement
  • Sun TV
  • Torrent Pharma

What to expect today?

On Friday, NIFTY kissed 15,000 levels,  but then saw profit booking and consolidation. You can read all about last week’s movements here.

Bank Nifty also shot up with SBI hitting upper circuit but saw an intraday fall of 1,000 points from its high It closed 1.69% up at 35,344 yesterday. 

Autos and IT stocks have heavily lagged in the market last week.

US had closed in green, with Dow Jones Futures also in the green. Asian markets are all trading in the green. Over the weekend, the US passed a Stimulus Bill of $1.9 Trillion. Janet Yellen has also said that the US can return to FULL EMPLOYMENT in 2022 if it enacts a robust enough relief package.

SGX NIFTY is trading higher above 15,000, indicating a gap up opening in the Indian Market. 15,000 is still an important level and we may see some consolidation or support being taken at this level.

Moving down, NIFTY has support at 14,800 and 14,660. In the medium-term, 14,500 and 14,000 will be taken as good supports.

Foreign institutional investors (FIIs) net bought shares worth Rs 1,462 crore, and domestic institutional investors (DIIs) net sold shares worth Rs 1,419 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!

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