Share Market HIGHLIGHTS: Sensex ends 354 pts lower, Nifty gives up 21,800; UPL slumps 11%, Paytm remains in tailspin
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex fell about half a per cent on Monday amid selling pressure in financial stocks though buying interest in auto names lent some support, keeping the downside in check. Catch all the highlights of the February 5 session on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.coms blog.
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty50 and Sensex finished yet another session characterised by see-saw moves lower on Monday (February 5), with weakness in financial shares outweighing gains in auto counters, amid mixed signals from global markets.
Investors awaited more earnings reports from India Inc for domestic cues after State Bank of India staged a weak quarterly performance over the weekend following a positive earnings report from Tata Motors.
Catch all the highlights of the February 5 session on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.com's blog:
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Share Market Update: UPL, Bajaj Finance, Bharti Airtel, HDFC Life, Grasim worst hit among 33 Nifty losers; Tata Motors, Coal India, BPCL top gainers
Top Nifty50 losers
Stock Change (%) Feb 5 close UPL -10.92 475.4 BAJFINANCE -3.24 6,626.75 BHARTIARTL -3.23 1,113.60 HDFCLIFE -2.68 563.3 GRASIM -2.59 2,084.00 MARUTI -2.12 10,429.50 BAJAJFINSV -2.03 1,618.00 ULTRACEMCO -1.82 9,914.85 HCLTECH -1.81 1,555.10 TITAN -1.78 3,548.00 Top Nifty50 gainers
Stock Change (%) Feb 5 close TATAMOTORS 5.8 929.75 COALINDIA 5.12 441.3 BPCL 3.14 575.9 SUNPHARMA 3.06 1,460.00 CIPLA 2.85 1,432.40 ONGC 2.43 263.5 M&M 2.36 1,700.00 POWERGRID 2.26 283.35 TATASTEEL 2.09 141.6 EICHERMOT 1.41 3,879.65 Share Market Update: Sensex ends 354 pts lower, Nifty gives up 21,800; UPL top blue-chip loser, slumps 11%; Paytm remains in tailspin
The Sensex sheds 354.2 points, or 0.5 per cent, to end at 71,731.4 and the Nifty50 settles at 21,771.7, down 82.1 points, or 0.4 per cent, from its previous close.
Nifty50
Sensex
Image: NSEIndia.com, BSEIndia.com
Share Market Today LIVE | Indian Overseas Bank shares hits 52-week high; here is why
Shares of Indian Overseas Bank (IOB) zoom as much as 17.5 per cent to hit a 52-week high of Rs 65.99 apiece on BSE. The bank's shares have risen over 41 per cent in the past three months and 113 per cent in the last six months.
A look at IOB's Q3 results
Last month, the bank shared its quarterly results for the period that ended on December 31, 2023, through a stock market disclosure. IOB reported a 30 per cent increase in its net profit to Rs 723 crore for the December quarter of 2023–24, compared to Rs 555 crore logged in the same quarter a year ago. This was mainly due to core income improvement and a decline in bad loans.
The bank further reported its total income of Rs 7,437 crore during the quarter under review, up from Rs 6,006 crore in the same period last year. Its interest income increased to Rs 6,176 crore over Rs 5,056 crore recorded for the quarter ended December 2022. Read moreShare Market Today LIVE | Nifty slips below 21,750, Sensex falls over 450 pts dragged by financial stocks
Nifty Today LIVE | Tata Motors, Coal India, Sun Pharma, TCS among top movers
Tata Motors, Coal India, Sun Pharma, TCS and M&M are the top movers in the Nifty baskets at this hour. On the contrary, Bharti Airtel, Bajaj Finance, Kotak Bank and UPL are among the top drags.
Here's a look at the heatmap in the 50-scrip universe by weight:
Source: NSE
IPO Update | Apeejay Surrendra Park Hotels IPO subscribed 1.67 times so far on Day 1
On Monday (Day 1), Apeejay Surrendra Park Hotels' share sale has received bids for 5,81,12,160 shares against 3,47,61,903 shares on offer. Overall, the public issue has been subscribed 1.67 times so far on Day 1 of the bidding process. Read more
Category Subscription (No. of times the equity reserved) Qualified institutional buyers 1.15 Non-institutional investors 1.42 Retail investors 3.76 Overall 1.67 Source: Exchange data Share Market Today LIVE | UPL slips to a 52-week low after agri tech firm reports weak Q3 numbers; what Jefferies says about it
The stock of UPL dips to a 52-week low of Rs 482 after the sustainable agriculture technology firm reported weak December quarter results. The shares of UPL trade 9.3 per cent, or Rs 49.6 lower at Rs 483.9 each on BSE. The shares are in dire straits after the company slipped from profit to deficit in the December quarter.
The company suffered a loss of Rs 1217 crore in the quarter under review against a profit of Rs 1087 crore in the same quarter last year. Not just PAT, its revenue from operations were also down by 27.7 per cent. The adjusted margin for the company in the December quarter was 4.2 per cent against 22.2 per cent Year-on-Year (YoY).
What Jefferies says about UPL?
After the lackluster Q3 results of the company, Jefferies has maintained a buy call on the firm, cutting the target to Rs 635 from Rs 675. Read more
Share Market Today LIVE | LIC stock achieves Rs 1,000 milestone; hits an all-time high on BSE
The stock of Life Insurance Corporation India (LIC) crosses the barrier of Rs 1,000 for the first time since its listing on BSE as it surged to an all-time high of Rs 1,027.95 on BSE. The counter trades 6.97 per cent higher at Rs 1,010.45 on BSE.
Tata Chemicals Q3 Results Preview | Net profit likely to fall 33% with margin shrinking 260 bps
Tata Chemicals (TATACHEM) shares were under pressure on Monday as investors awaited the Tata group chemical manufacturer’s quarterly numbers due later in the day. The stock of Mumbai-based Tata Chemicals declined by as much as Rs 12.8, or 1.3 per cent, to Rs 985 apiece on BSE, falling for the third session in a row. Analysts widely expect the Tata group firm to stage a weak financial performance for the fiscal third quarter on account of a fall in European and Kenyan revenue and higher supplies from China.
According to Zee Business research, Tata Chemicals is estimated to report a consolidated net profit of Rs 265 crore for the quarter ended December 31, 2023 (Q3 FY24), translating into a 33.4 per cent fall compared with the corresponding period a year ago. The analysts estimate its revenue for the fiscal third quarter at Rs 3,820 crore, down 7.9 per cent on a year-on-year basis. Read more
Traders' Diary: Buy, sell or hold strategy on Mankind, Eicher Motors, Cochin Shipyard, MOIL, over a dozen other stocks today
In this edition of Traders' Diary, the Zee Business research team shares exclusive research on 20 stocks that investors and traders can track on Monday, February 5. Check out the complete list of stocks on analysts Kushal Gupta and Varun Dubey's radar.
Here's the complete list of investment and trading ideas for the day:
Kushal Gupta
- Buy MOIL shares in the cash segment for a target of Rs 366 with a stop loss at Rs 350
- Buy Tata Motors futures for a target of Rs 920 with a stop loss at Rs 875
- Buy the Rs 535 put option of UPL at Rs 21 for a target of Rs 40 with a stop loss at Rs 12
- Technical pick: Buy InterGlobe Aviation (IndiGo) shares for a target price of Rs 3,264 with a stop loss at Rs 3,120
- Fundamental pick: Buy Olectra Greentech shares for a one-year target of Rs 2,100
- Investment idea: Buy Amber Enterprises India shares for a one-year target of Rs 5,200
- News-based pick: Buy Aurobindo Pharma shares for a target of Rs 1,040 with a stop loss at Rs 1,085. Read more
Share Market Today LIVE | IndiGo hits an all-time high after its profit jumps 15 times in Dec quarter
InterGlobe Aviation, the parent company of IndiGo, soars to an all-time high of Rs 3,301.40 on BSE on Monday (February 5, 2024) after the company reported strong December quarter numbers. The stock of the company is soaring higher by 4.45 per cent, or Rs 139.15, at Rs 3,266.15 on BSE.
The aviation company's profit after tax skyrocketed by 15 times to Rs 2,998 crore in the December quarter, while its revenue was also up by 30.1 per cent in the same duration. Brokerage Morgan Stanley has maintained an overweight rating on the stock and raised the target to Rs 4,145 from Rs 3,745 after the aviation company posted its December quarter results. Read more
Share Market Today LIVE | SBI stock edges lower post mixed December quarter results
The stock of India's biggest public lender, State Bank of India, gives up initial gains to trade 0.35 per cent lower at Rs 648.15 on BSE after reporting mixed December quarter results. SBI's net interest income (NII) rose by 4.6 per cent in the December quarter, while its profit after tax was down by 35.5 per cent to Rs 9164 crore in the quarter under review.
What SBI said in its post-result concall and interview to Zee Business
- The bank has made AIF provision of Rs 240 crore.
- Its total exposure to AIF is Rs 1000 crore.
- The lender has no concerns on slippages.
- Its around Rs 13000 crore provision is for wage and pension.
- The bank says that it made Rs 7100 crore towards pension and Rs 6100 crore provision for wages (the difference between November 2022 to December 2023). Read more
Share Market Today LIVE | LIC Housing Finance hits a 52-week high after NBFC clocks mixed Q3 numbers
LIC Housing Finance hits a 52-week high of Rs 645.8 in morning deals on BSE after the non-banking finance company reported mixed results in the December quarter. LIC Housing Finance's net interest income (NII) jumped by 31.3 per cent, while its profit was up by 2.4 times to Rs 1063 crore in the December quarter.
Gross Non-Performing Assets were up by 4.26 per cent while its NIM slipped from 3.04 per cent to 3 per cent in the quarter under review. Read more
Share Market Today LIVE | Paytm shares hit lower circuit again; Anil Singhvi suggests exiting the stock
Shares of One 97 Communications, the parent company of Paytm hit the 10 per cent lower circuit on BSE at Rs 438.35 apiece on BSE.
The stock has hit the lower circuit for the third session in a row. The stock has been in a free fall since the Reserve Bank of India's (RBI) order to its payments bank subsidiary to stop accepting fresh deposits in its accounts or popular wallets from March onwards.
Zee Business Managing Editor Anil Singhvi recommended selling shares of Paytm even at a loss. He advised not to keep "such a risky stock in the portfolio" and instead suggested buying other quality names.
Read moreStocks to Buy | Infosys, TCS, Havells among analysts' top picks
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Kunal Saraogi, Himanshu Gupta, Rakesh Bansal, Mehul Kothari, Jay Thakkar, Sumeet Bagadia and Sandeep Jain share their top stock recommendations in this special segment, Pick of the Week.
On the top analysts' 'buy' list are stocks such as Tata Consultancy Services (TCS), Maruti Suzuki India, Infosys, Pfizer, Castrol India, Jindal Steel and Power Ltd (JSPL), Havells India, Bank of Baroda (BoB) and Can Fin Homes. Read more
Dividend Stocks Today | Coforge, Sona BLW, 4 other stocks trade ex-date
A total of six stocks traded ex-dividend on Monday, February 5, according to the BSE as well as NSE website. The list includes CG Power, Coforge, Sona BLW Precision and other stocks.
Apcotex Industries dividend
Apcotex Industries has announced an interim dividend of Rs 2 per equity share with a face value of Rs 2. The Board has fixed February 5 as a record date for determining the entitlement of members for payment of interim dividend.
Sona BLW Precision dividend
Sona BLW Precision has announced an interim dividend of Rs 1.53 per equity share with a face value of Rs 10. The payment of the interim dividend will be completed on or before 30 days from the date of declaration as per the company's filing.
Coforge dividend
Coforge has announced its third interim dividend of Rs 19 per equity share with a face value of Rs 10. "....February 05, 2024, has been fixed as Record Date for the purpose of ascertaining the eligibility of shareholders for payment of Interim Dividend," the company's filing read. Read more
Currency Update | Rupee falls 4 paise to 83.02 against US dollar in early trade
The rupee depreciates 4 paise to 83.02 against the US dollar in early trade on Monday, tracking a strong American currency and rising crude oil prices in the international market.
Anil Singhvi Market Strategy | Important levels to track in Nifty50, Nifty Bank today
Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 21,725-21,800 levels and a strong base at 21,650-21,700 levels on Monday, February 5. For the Nifty Bank, he expects support to come in at 45,550-45,675 levels and a strong support zone at 45,075-45,200 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Share Market Today LIVE | Tata Motors hits 52-week high as automaker beats Street estimates in Q3. Should you book profit or stay put?
Tata Motors shares emerge as a top gainer of Nifty50. The automaker gains as much as Rs 63.2, or 7.18 per cent, to clock an all-time high of Rs 942 apiece after the Tata Group auto giant—whose popular cars include Nexon and Punch—reported a better-than-expected set of financial results for the October-December (Q3 FY24) period.
Tata Motors Q3 results
Tata Motors on Friday reported a consolidated net profit of Rs 7,025.1 crore for the quarter ended December 31, 2023, marking an increase of 2.4 times compared with the corresponding period a year ago. Its revenue grew by one-fourth on a year-on-year basis to Rs 1,09,799.2 crore, according to a regulatory filing.
Tata Motors registered 60.6 per cent growth in earnings before interest, taxes, depreciation and amortisation (EBITDA) to Rs 15,800 crore for the quarter under review. Revenue from JLR increased 22 per cent to 7.4 billion pounds, Tata Motors said. Read more
Tata Motors share price target: What do brokerages suggest?
Tata Motors Brokerage Rating Target (INR) Jefferies Buy 1100 CLSA Buy 1061 JP Morgan Overweight 1000 Morgan Stanley Overweight 1013 Macquarie Outperform 1028 Nomura Buy 1057 Goldman Sachs Buy 960 HSBC Hold 920 Image: Reuters/ Representational image Share Market Today LIVE | Nifty, Sensex open sluggish
Sensex
Source: BSENifty 50
Source: NSE
IPO Update | Apeejay Surrendra Park Hotels IPO to open for subscription today; check out price band, allotment date
The initial public offer (IPO) of Apeejay Surrendra Park Hotels IPO will open for subscription on Monday, February 5 with a price band of Rs 147 to Rs 155 per share. The public issue will be open for subscription for three trading days, i.e., until February 7 from 10 am to 5 pm. Apeejay Surrendra Park IPO is a book-built issue of Rs 920 crore and is a combination of a fresh issue of Rs 600 crore and an offer for sale (OFS) of Rs 320 crore.
Apeejay Surrendra Park IPO: Here are key things to know about the issue
Apeejay Surrendra Park IPO allotment date
The basis of the allotment of shares under the IPO of Apeejay Surrendra Park IPO is set to be finalised on February 8 tentatively.
Apeejay Surrendra Park IPO listing date
The Apeejay Surrendra Park IPO stock is likely to be listed in the secondary market on February 12 tentatively. The stock will be traded on the bourses, BSE and NSE. Read more
Share Market Today LIVE | Should you buy Tata Motors, Paytm, IndiGo, SBI stocks today? Here is what brokerages suggest
As Dalal Street enters the February 5 session, brokerages have several stocks on their radar. Here's what CLSA, Morgan Stanley, Jefferies, Nomura, Goldman Sachs, Citi, JPMorgan and HSBC make of stocks such as Tata Motors, Paytm, InterGlobe Aviation (IndiGo) and State Bank of India (SBI):
LIC Finance share target price
CLSA has an 'outperform' rating on the LIC Housing Finance stock with a target of Rs 725, while Morgan Stanley has maintained an 'equal-weight' rating on the stock with a target of Rs 495. Jefferies and Nomura each have maintained a 'buy' call on LIC Housing Finance shares with targets of Rs 645 and Rs 665, respectively.
SBI share target price
Goldman Sachs, CLSA, Nomura and Jefferies each have maintained a 'buy' call on State Bank of India (SBI) with targets of Rs 677, Rs 800, Rs 755 and Rs 810, respectively.
Paytm share target price
Citi has a 'sell' call on the Paytm stock with a target of Rs 550, while CLSA has a 'buy' call with a target of Rs 750. Morgan Stanley has maintained an 'equal-weight' rating on Paytm shares with a target of Rs 555. Read more
Stocks to Watch | IndiGo, Delhivery, Tata Motors, other stocks
Here are some stocks that will be in focus on Monday, February 5.
Paytm: As per reports, stock exchanges BSE and NSE have revised Paytm's circuit limit to 10 per cent from 20 per cent. The parent company of the fintech issued a clarification that neither the company nor its founder and CEO are being investigated by the Enforcement Directorate regarding money laundering.
Results on February 5: Cholamandalam Financial Holdings, Fusion Micro Finance, GIC Housing Finance, Gulf Oil Lubricants India, Ideaforge Technology, Kansai Nerolac Paints, Orient Cement, BSE, Bajaj Electricals, Sun Pharma Advanced Research Company, Varun Beverages, Bajaj Consumer Care, EIH Associated Hotels, Sundaram Finance, and SMC Global Securities are some companies that will release their Q3 results.
Tata Motors: The Tata Group company reported a consolidated profit of Rs 7,145.43 crore against Rs 3,043.15 crore a year ago. The total income for the third quarter ended December 31 stood at Rs 112.075.94 crore, up from Rs 89,618.97 crore a year ago.
Aurobindo Pharma: The United States Food and Drug Administration (US FDA) inspected Unit-II of Eugia Pharma Specialities Ltd., a subsidiary of the company, situated in Telangana, from January 22 to February 2, 2024. The inspection closed with nine observations. As per the filing, the company has temporarily stopped manufacturing on certain lines to conduct a holistic investigation and corresponding partial distribution.
Delhivery: The company recorded a net profit of Rs 11.706 crore for Q3 against the loss of Rs 195.65 crore a year ago. The company's total income stood at Rs 2325.3 crore for the quarter under review, against Rs 1,918.1 crore YoY. Read more
Share Market Today LIVE | GIFT Nifty futures indicate a sluggish start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are down 30.9 points or 0.14 per cent at 21,920.5 the opening bell on Dalal Street.
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