Market Opens:
Benchmark indices are
trading flat with Nifty holding above 10,900 level.
At 09:17 hrs IST, the
Sensex is up 27.16 points at 36609.90, while Nifty is
up 13.40 points at 10925.70. About 336 shares have
advanced, 455 shares declined, and 43 shares are unchanged.
JSW STeel, Bharti
Airtel, Tata Steel, are trading lower, while gainers include Dr
Reddy's, Hero Moto, Eicher, UPL, Bajaj Finance, Bajaj Auto, Tech
Mahinrda and Yes Bank.
Rupee Opens:
The Indian rupee
opened higher by 10 paise at 71.70 per dollar versus
previous close 71.80.
Rupee came under
pressure ahead of the important RBI policy statement that will
be released later this week. Expectation is that the central
bank could consider cutting rates by 25bps but change in the
stance could trigger volatility for the currency. This will be
RBI governor’s first policy meeting and a dovish stance could
put the currency under pressure, said Motilal Oswal.
Global Market :
US Wall Street
ends higher:
Wall Street gained
on Monday, with all three major indexes closing near session
highs as sustained optimism on the prospects for US-China
trade relations propelled technology shares.
SGX Nifty:
Trends on SGX Nifty
indicate a flat start for the broader index in India, a gain of
18.50 points or 0.17 percent. Nifty futures were trading around
10,966.50-level on the Singaporean Exchange.
Asian markets
trade higher:
Recent US data and
the Federal Reserve's dovish turn kept lifting Asian
stocks early on Tuesday, while the dollar held the upper
hand against its rivals.
Domestic Markets
:
The Reserve Bank
of India’s Monetary Policy Committee will be huddled in a
meeting from today till the February 7, when they will
announce their decision on the policy rate. This time, the
committee will take into account the impact of the recent Union Budget.
Results on
February 5:
Tech Mahindra, Punjab
National Bank, Hindustan Petroleum Corporation, DLF, GAIL
(India), ACC, BHEL, Marico, IDFC First Bank, Apollo Tyres,
Prataap Snacks, Aditya Birla Capital, Suven Life Sciences, Blue
Star, Tube Investments of India, Future Enterprises, Future
Enterprises, Praxis Home Retail, Inspirisys Solutions, Aspinwall
& Company, AksharChem India, Adlabs Entertainment, Hitech
Corporation, Fairchem Speciality, IZMO, Lotus Eye Hospital,
Snowman Logistics, Spice Mobility, Pressman Advertising, Piramal
Phytocare, Tata Chemicals
Stocks in news :
the country's fourth
largest public sector lender, is expected to post big loss
for December quarter. Likely elevated provisions and tepid
NII & loan growth is expected to dent bottomline, but there
could be improvement in asset quality, sequentially.
loss of Rs 2,036.2 crore for the
December quarter against loss of Rs 4,532.4 crore in September
quarter and profit of Rs 230.1 crore in the year-ago period.
Coal India:
Board approved the proposal for purchase of company's equity
shares up to 4,46,80,850 at a price of Rs 235 apiece payable in
cash for an aggregate consideration up to Rs 1,050 crore.
IRB
Infrastructure Q3: Profit rises to Rs 218.9 crore
versus Rs 207.3 crore; revenue increases to Rs 1,788.5 crore
versus Rs 1,296.2 crore YoY.
Balrampur
Chini Mills Q3: Profit jumps to Rs 120.32 crore
versus Rs 61.42 crore; revenue falls to Rs 940.91 crore versus
Rs 1,001.91 crore YoY.
Future Retail Q3:
Profit rises to Rs 201.43 crore versus Rs 183.14 crore; revenue
jumps to Rs 5,301 crore versus Rs 4,693.4 crore YoY.
Bharat
Financial Inclusion: Company assigned a pool of
receivables of an aggregate value of Rs 751.19 crore to one of
the largest private sector banks on a Direct Assignment basis.
With this transaction, the company has completed Direct
Assignment transactions worth Rs 5,448.40 crore in FY19.
Lakshmi
Machine Works Q3: Profit rises to Rs 62.38 crore
versus Rs 56.34 crore; revenue jumps to Rs 647.9 crore versus Rs
542.42 crore YoY.
Future Retail:
Board approved too issue and allot upto 3,96,03,960 warrants
convertible into 3,96,03,960 equity shares of Rs 2 each at a
premium of Rs 503 per share aggregating to Rs 1999.99 crore
Future Coupons Limited (promoter group entity) on a preferential
basis.
Lakshmi Vilas
Bank Q3: Loss widens to Rs 373.5 crore versus loss Rs
39.2 crore; net interest income falls to Rs 138.8 crore versus
Rs 219.67 crore YoY.
SRF Q3:
Consolidated profit rises to Rs 165.71 crore versus Rs 131.22
crore; revenue jumps to Rs 1,964 crore versus Rs 1,397 crore
YoY.
Reliance
Communications: Telecom Disputes Settlement and
Appellate Tribunal (TDSAT) cancels Rs 2,000 crore demand on
company and asked Department of Telecommunication to return Rs
2,000 crore bank guarantee to company.
Godrej Agrovet Q3:
Consolidated profit declines to Rs 48.56 crore versus Rs 57.90
crore; revenue rises to Rs 1,454.11 crore versus Rs 1,220.66
crore YoY.
Ashok Leyland:
Company acquired 4,50,005 shares, constituting 11.25 percent in
the paid-up share capital of Ashley Aviation. Consequent to the
said acquisition, the company's shareholding in AAL stands
increased from 88.75 percent to 100 percent making it a
wholly-owned subsidiary of the company.
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