IDEAL STOCK :- MARKET UPDATE

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 :

Punjab National Bank

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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