News Shots

Reliance Industries has reported a 25% rise in consolidated net profit for December quarter on a year-on-year (YoY) basis.

Grasim is entering into the paints business. Board approves investment of up to Rs 5,000 crore over the next three years, primarily towards capex.

Tata Motors has hiked prices of its passenger vehicle range with effect from January 22. The company increased prices upto Rs 26,000, depending on the variant.

Wholly-owned subsidiary of Tata Power gets an order worth Rs 1,200 crore from NTPC to set up a 320 MW ground-mounted solar PV project. With this addition, the order pipeline of Tata Power Solar stands approximately at 4 GWp with an approximate value of Rs 12,000 crore.

YES Bank has reached the “peak” of asset quality stress after reporting heightened challenges in the December quarter earnings, even though there can be a jump in the gross non-performing assets (GNPA) ratio in the March quarter.

Apollo Hospitals announced raising Rs 1,169.99 crore through allotment of shares to the qualified institutional buyers (QIBs).

UltraTech Cement reported over two-fold jump in consolidated net profit to Rs 1,584.58 crore in the December quarter.

SAIL, with the help of the Centre, is planning to set up India’s first gas to ethanol plant at its ferro alloy plant in Chandrapur in Maharashtra.

Bharat Petroleum Corporation Ltd expects to expand its customer base 10-fold to one million under a new customer loyalty campaign.

Birla Corp reported its consolidated net profit jumped 82.1 per cent year-on-year to Rs 148.42 crore for the third quarter of the current fiscal on the back of cost rationalisation and higher sales.

Atul to consider proposal for buyback of equity shares at its board meeting on January 29, 2021.

Major Q3 results to be announced today:

  • L&T
  • Kotak Mahindra Bank
  • ICICI Securities
  • UCO Bank
  • Can Fin Homes
  • Mahindra Holidays
  • Sharda Corpchem
  • APL Apollo Tubes
  • Navin Flourine

What to expect today?

NIFTY continued the fall from Thursday evening and fell another 200 points on Friday to close at 14,371. You can read all about Friday’s movements here.

Bank Nifty was even more weak and fell nearly 900 points again. That is, Bank Nifty has fallen nearly 2000 points in 2 days! It closed just above the support at 31,000.

NIFTY AUTO continued to do well, thanks to Bajaj Auto this time. After great results, Bajaj Auto moved up 10% when the whole market was burning.

There aren’t any large local or global cues that have developed over the weekend, that will influence the market greatly.

Europe closed lower. US markets closed mixed. Asian markets are mostly up. SGX NIFTY is trading higher at 14,483, which is nearly 100 points higher, indicating a gap up opening in the Indian Market. 

We have to watch and understand the trend of NIFTY after it opens with a gap up. If it goes down and breaks yesterday’s low of 14,360-14,370, we’ll have to turn bearish again. But I don’t think that’ll happen.

Reliance came out with good results. Ultratech Cement announced superb results. There will be strength in many heavyweight stocks. Banks may consolidate or move up after the huge fall over 2 days.

Moving up, NIFTY has resistance at 14,550. Breaking that today might give a larger up move.

Highest Call Open Interest at 15,000, followed by 14,700. Highest Put Open Interest at 14,000, followed by 13,500.

Foreign institutional investors (FIIs) net sold shares worth Rs 635 crore, and domestic institutional investors (DIIs) net sold shares worth Rs 1290 crore in the Indian equity market.

Reliance, Kotak Mahindra Bank, Ultratech Cement, Grasim, L&T and other major banks to be in focus today.

Also, since tomorrow is Republic Day and the market is closed, we might see less action today as many traders might take today off so they get continuous 4 days off.

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