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Sensex Hits Three-Week Low As Bank Shares Slide

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Closing Bell

Indian equity benchmarks fell for fifth day in a row to their lowest level in over three weeks dragged down by private sector lenders amid weak global cues.

The S&P BSE Sensex fell 0.88 percent or 310 points to 34,757 and the NSE Nifty 50 Index tumbled 0.87 percent or 94 points to 10,666.55.

Twelve out of 19 sector gauges compiled by BSE ended lower dragged down by the S&P BSE Capital Goods index's 2.6 percent drop. On the other hand, the S&P BSE Telecom index was the top sectoral gainer, up 1.7 percent.

Countdown

Colgate Palmolive Reports Net Profit Of Rs 170 Crore

Shares of the Mumbai-based oral care products maker rose 0.4 percent to Rs 1,122 after it reported December quarter earnings.

Key earnings highlights:

  • Net profit at Rs 170 crore
  • To consider share buyback on Feb, 8
  • Revenue at Rs 509.9 crore versus Rs 425.4 crore (YoY)

Stocks Moving On Heavy Volumes

  • Whirlpool Of India: The Haryana-based home improvement products maker fell 7 percent, the most in over two months, to Rs 1,346. Trading volume was 7.1 times its 20-day average.
  • PC Jeweller: The Delhi-based jewellery retailer rose 15.36 percent, the most in nearly nine months, to Rs 420.2. Trading volume was 5.1 times its 20-day average.
  • Bombay Dyeing: The Mumbai-based textile fabric maker rose 16.5 percent, the most in over a month, to Rs 223. Trading volume was 4.4 times its 20-day average.
  • Bhushan Steel: The Delhi-based steel maker fell 6 percent, the most since Feb. 2, to Rs 44. Trading volume was 4.2 times its 20-day average.

Market Check

  • Indian equity benchmarks held on to losses as private sector lenders faced selling pressure dragged down by losses in HDFC Bank, ICICI Bank, Kotak Mahindra Bank and IndusInd Bank.
  • The S&P BSE Sensex tanked 1.1 percent or 397 points to 34,667 and the NSE Nifty 50 Index dropped 1 percent or 119 points to 10,646.
  • Mid-cap and small-cap shares were in-line with their large-cap counterparts as the S&P BSE MidCap and the S&P BSE SmallCap Indices fell over a percent each.
  • Sixteen out of 19 sector gauges compiled by BSE were trading lower dragged down by the S&P BSE Capital Goods index's 2.5 percent drop. On the flipside, the S&P BSE Telecom Index was the top sectoral gainer, up 1.4 percent.

Top Nifty losers

  • HDFC down 4.3 percent
  • IndusInd Bank down 3.6 percent
  • Larsen & Toubro down 3.1 percent
  • Indiabulls Housing Finance down 2.4 percent
  • Adani Ports and SEZ down 2.3 percent

Top Nifty gainers

  • Bharti Airtel up 4.6 percent
  • Tata Motors up 2.3 percent
  • HPCL up 2.2 percent
  • Power Grid Corporation up 1.9 percent
  • Coal India up 1.6 percent

Power Lunch

Eveready Industries Falls As Q3 Profit Misses Estimates

Shares of the Kolkata-based battery maker fell as much as 6.36 percent to Rs 370 after its net profit missed earnings estimates compiled by Bloomberg.

  • Net profit at Rs 21 crore versus Bloomberg estimate of Rs 26 crore.
  • Net profit down 40.5 percent at Rs 21 crore versus Rs 35.1 crore (YoY)
  • Revenue up 12.2 percent at Rs 369.5 crore versus Rs 344.7 crore (YoY)
  • EBITDA down 3.1 percent at Rs 34 crore versus Rs 35.2 crore (YoY)
  • Margin at 9.2 percent versus 10.7 percent (YoY)

Bosch India Little Changed As Q3 Net Profit Misses Estimates

Shares of the Bangalore-based auto components maker were little changed after it missed analyst estimates compiled by Bloomberg.

Key earnings highlights:

  • Net profit at Rs 281 crore versus Bloomberg Est Of Rs 318 crore
  • Revenue at Rs 3,071.9 crore versus Bloomberg estimate of Rs 2,978 crore
  • Net profit at Rs 281 crore versus Rs 218 crore (YoY)
  • Revenue up 14 percent at Rs 3071.9 crore versus Rs 2692.7 crore (YoY)

Jaypee Associates Rises 5% As Company Deposits Rs 550 Crore With Court

Shares of the debt-ridden Noida-based company rose 4.7 percent to Rs 18.80 after the company said its has deposited Rs 550 crore with the court.

Bharti Airtel Up As Singtel Plans To Raise Stake

Shares of the country’s largest telecom service provider rose as much as 5.78 percent, the most in nearly two months, to Rs 446.75 as Singapore Telecommunications will be buying an additional 1.7 percent stake in Bharti Telecom Ltd., promoter company of Bharti Airtel Ltd., for Rs 2,649 crore. Bharti Telecom will be issuing 8.54 crore equity shares to Singtel at Rs 310 each on preferential basis.

#Ask BQ

PSU Bank Index Recovers Led By SBI, Bank Of Baroda

Shares of government-owned banks staged a recovery led by gains in State Bank of India, Bank of Baroda and Oriental Bank of Commerce.

Gauge of state-owned banks compiled by the National Stock Exchange - Nifty PSU Bank Index rose 1 percent to 3,536.

Hot Money

Mastek Rises As Mutual Fund Buys Stake

Shares of the Ahmedabad-based IT services company rose as much as 6 percent to Rs 457.75 after AJO Emerging Markets Small-Cap Master Fund Ltd bought 1.26 lakh shares (0.5 percent) at Rs 461.17 each.

Nifty Realty Index Falls Most From Highs Hit In January

Trend Spotting

Savita Oil Technologies Gains After Profit Nearly Doubles In Q3

Shares of the Mumbai-based chemical maker rose as much as 4.1 percent to Rs 1,508.90 after its net profit nearly doubled in October-December quarter.

Key earnings highlights

  • Revenues up 22.9 percent at Rs 453.6 crore versus Rs 369 crore
  • Net profit up 94.2 percent at Rs 35.17 crore versus Rs 18.1 crore
  • EBITDA up 73.8 percent at Rs 47.41 crore versus Rs 27.27 crore
  • Margins at 10.4 percent versus 7.4 percent

United Breweries Gains After December Quarter Earnings

Shares of the Bangalore-based beer maker rose as much as 9 percent record high of Rs 1,243 after it reported December quarter earnings.

Key earnings highlights

  • Revenues up 17 percent at Rs 1197 crore versus Rs 1022 crore.
  • Net profit down 3 percent at Rs 47 crore versus Rs 48.5 crore.
  • EBITDA up 19 percent at Rs 152.5 crore versus Rs 128 crore.
  • Margins at 12.7 percent versus 12.5 percent.

Bank Nifty Falls Dragged Down By Yes Bank, ICICI Bank

Gauge of public and private sector - Nifty Bank index fell 1.5 percent to 26,082 dragged down by weakness in Yes Bank, IndusInd Bank and ICICI Bank.

Seshasayee Paper & Boards Falls As Net Profit Declines

The Erode-based paper products maker fell as much as 8.5 percent, the most in nearly nine months, to Rs 861.65 after its net profit declined in October-December quarter.

Key earnings highlights

  • Revenue up 1.3 percent at Rs 294.8 crore.
  • Net profit down 10.3 percent at Rs 30.92 crore.
  • Ebitda down 18.7 percent at Rs 47.8 crore.
  • Margin at 16.2 percent versus 20.2 percent.
  • This quarter includes exceptional gain of Rs 4.8 crore.

PI Industries Falls As Profit Narrows In Q3

Shares of the Gurugram-based agricultural chemical maker fell as much as 7.5 percent, the most in over three months, to Rs 820 after its profit narrowed in December quarter.

Key earnings highlights:

  • Net profit declined 14 percent to Rs 80.65 crore from Rs 93.97 crore (YoY).
  • Revenue rose 7.47 percent to Rs 533.83 crore versus Rs 500.32 crore (YoY).

The F&O Show

3M India Surges As Profit Doubles In Q3

Shares of the Bangalore-based company rose as much as 5.46 percent, the most in over a month, to Rs 19,317.65 after its net profit more than doubled in October-December quarter.

Key earnings highlights:

  • Revenue up 12 percent at Rs 646 crore.
  • Net profit up 119 percent at Rs 92 crore.
  • Ebitda up 94 percent at Rs 126 crore.
  • Margin at 19.5 percent versus 11.3 percent.

Vakrangee Locked In Lower Circuit For Fourth Day In A Row

Shares of the Mumbai-based e-governance service provider were locked in a 10 percent lower circuit for fourth day in a row at Rs 236.40.

The stock has been facing selling pressure after a report suggested that Sebi is investigating the company for alleged stock price rigging.

Meanwhile, the company has clarified that it is not being investigated by Sebi.

The company in a notification said, "Vakrangee would like to highlight that we have not received any communication either from Stock Exchanges or Security Exchange Board of India (SEBI). The rumours of involvement of Company in price and volume manipulation are completely baseless and factually incorrect."

IT Stocks Gain As Rupee Weakens Against U.S. Dollar

Shares of IT companies were outperforming in an otherwise weak session after rupee fell to its lowest level in over a month against the U.S. dollar. The rupee fell 0.25 percent or 16 paise to its lowest level since Dec. 28 to 64.23 per dollar against Friday's close of 64.06.

Weak rupee helps in boosting revenues of IT companies as a sizeable chunk of revenues of these companies are in the U.S. dollar.

Seeing A Sharp Correction In An Ongoing Bull Market: Ramesh Damani

Ramesh Damani To BloombergQuint

  • Expect large caps to be re-rated
  • Real estate valuations are cheap; gaming industry looks good
  • Looking at the quick-service restaurant space positively
  • Service model is being replaced by intellectual property model
  • Encourage investors to look for companies developing intellectual property
  • Fiscal deficit number will come under control due to buoyancy in coming period
  • Government will be able to meet the fiscal deficit number
  • Big worry is that the domestic liquidity stance may change
  • May see slowdown in domestic liquidity
  • FII flows may continue in markets
  • RBI may raise rates marginally in the next 6-12 months to combat inflation
  • There is some chance that foreign money might come back to India
  • Indian economy is on a growth track; there are businesses doing well
  • Don’t see why India can’t disinvest more public-sector entities
  • Keeping entities like MTNL on the books makes less and less sense
  • Disappointed government made it clear it is not in favour of privatization
  • Good economics suggested that government should have bitten the bullet on disinvestment
  • For some reason PSU disinvestment is a politically no-go area
  • Market would have reacted positively if STT was reduced
  • Statements post budget were not morale boosting for markets
  • Corrections in the bull market are short, sharp
  • This is a correction in the bull market
  • In last 3 years, 3-4 times market has fallen and recovered
  • Stay invested for long run to enjoy benefits of bull market
  • Inflation in short-term not a worry for markets
  • Fighting inflation for next 6-8 months key for markets
  • Tech, pharma, OMC stocks trading at reasonable multiples
  • Market is definitively disappointed with LTCG
  • TCS, Wipro, Infosys were unloved, unwanted in the 90s
  • Companies working with Aadhar, cyber security are in the sweet spot
  • Bullish on airline industry
  • Airline industry has moved from single pricing to à la carte pricing
  • Unlikely to see new players in airline industry due to entry barriers

PC Jeweller Surges After Friday's Sharp Fall

Shares of the Delhi-based jewellery retailer surged after it rebounded from Friday's sharp selloff.

The stock rose as much 29.25 percent, the most in nearly nine months, to Rs 470.80 after its management clarified that promoters have not sold any shares and their fundamental are strong.

On reports of Vakrangee buying shares of PC Jeweller, the management said, "We have not sold any shares to them. Vakrangee has bought from secondary market and how can we stop it."

IndianOpen

Opening Bell

Indian equity benchmarks slumped for second day in a row after the U.S. stocks extended their biggest selloff in two years as investors adjusted to a surge in global bond yields.

The S&P BSE Sensex fell as much as 1.6 percent or 546 points to 34,520.80 and the NSE Nifty 50 Index tumbled 1.6 percent or 174 points to 10,586.80.

Losses were broad-based as the S&P BSE MidCap Index slumped 2.3 percent and the S&P BSE SmallCap Index plunged 2.8 percent.

Seventeen out of 19 sector gauges compiled by BSE were trading higher dragged down by the S&P BSE Realty index's 3 percent drop. On the flipside, the S&P BSE IT index was the top sectoral gainer, up 0.4 percent.

Rupee Hits Lowest In Over A Month

Indian rupee fell 0.25 percent or 16 paise to its lowest level since Dec. 28 to 64.23 per dollar against Friday's close of 64.06.

Sensex, Nifty Slump In Pre-Open Trade

BQ Heads-Up!

Nifty Earnings To Watch

  • Tata Motors
  • Bosch

Other Earnings To Watch

  • Cochin Shipyard
  • Colgate Palmolive
  • ENIL
  • Eveready Industries
  • Greaves Cotton
  • Hudco
  • IFCI
  • Timken India
  • Ujjivan Financial Services
  • Westlife Development

Earnings Reaction To Watch

3M India Q3 (YoY)

  • Revenue up 12 percent at Rs 646 crore.
  • Net profit up 119 percent at Rs 92 crore.
  • Ebitda up 94 percent at Rs 126 crore.
  • Margin at 19.5 percent versus 11.3 percent.

Mirza International Q3 (YoY)

  • Revenue up 11 percent at Rs 254 crore.
  • Net profit up 21 percent at Rs 20.9 crore.
  • Ebitda up 14 percent at Rs 45.6 crore.
  • Margin at 18 percent versus 17.5 percent.

United Breweries Q3 (YoY)

  • Revenue up 17 percent at Rs 1,197 crore.
  • Net profit down 3 percent at Rs 47 crore.
  • Ebitda up 19 percent at Rs 152.5 crore.
  • Margin at 12.7 percent versus 12.5 percent.

Tata Global Beverages Q3 (YoY)

  • Revenue down 0.6 percent at Rs 1,730 crore.
  • Net profit up 31 percent at Rs 168 crore.
  • Ebitda up 29 percent at Rs 234.5 crore.
  • Margin at 13.6 percent versus 10.5 percent.

Bajaj Holdings & Investment Q3 (YoY)

  • Revenue up 15 percent at Rs 318 crore.
  • Net profit up 41 percent at Rs 914 crore.

Glaxosmithkline Pharmaceuticals Q3 (YoY)

  • Revenue flat at Rs 704 crore.
  • Net profit up 70 percent at Rs 90 crore.
  • Ebitda up 172 percent at Rs 141.5 crore.
  • Margin at 20.1 percent versus 7.4 percent.

Thomas Cook Q3 (YoY)

  • Revenue up 51 percent at Rs 3,005 crore.
  • Net profit of Rs 10 crore versus net loss of Rs 7.7 crore.
  • Ebitda up 124 percent at Rs 120 crore.
  • Margin at 4 percent versus 2.7 percent.

Hi-Tech Gears Q3 (YoY)

  • Revenues up 33 percent at Rs 124 crore.
  • Net profit up 124 percent at Rs 7.4 crore.
  • Ebitda up 78 percent at Rs 16 crore.
  • Margin at 12.9 percent versus 9.6 percent.

Aegis Logistics Q3 (YoY)

  • Revenue up 15.6 percent at Rs 1,442 crore.
  • Net profit up 44.6 percent at Rs 53.5 crore.
  • Ebitda up 21 percent at Rs 72 crore.
  • Margin at 5 percent versus 4.8 percent.

IEX Q3 (YoY)

  • Revenue up 30 percent at Rs 65 crore.
  • Net profit up 24 percent at Rs 36 crore.
  • Ebitda up 43 percent at Rs 53 crore.
  • Margin at 81.5 percent versus 74 percent.

Mangalam Organics Q3 (YoY)

  • Revenue up 95 percent at Rs 78 crore.
  • Net profit up 125 percent at Rs 3.6 crore.
  • Ebitda up 113 percent at Rs 6.4 crore.
  • Margin at 8.2 percent versus 7.5 percent.

CL Educate Q3 (YoY)

  • Revenue up 34 percent at Rs 65 crore.
  • Net loss of Rs 0.5 crore versus net loss of Rs 1.3 crore.
  • Ebitda loss at Rs 1 crore versus Ebitda loss at Rs 2.5 crore.
  • Margin at -1.5 percent versus -5.2 percent.

Tata Metaliks Q3 (YoY)

  • Revenues up 63 percent at Rs 490 crore.
  • Net profit up 105 percent at Rs 40 crore.
  • Ebitda up 69 percent at Rs 72 crore.
  • Margin at 14.7 percent versus 14.2 percent.

RPG Life Sciences Q3 (YoY)

  • Revenue up 45 percent at Rs 95.7 crore.
  • Net profit up four times at Rs 5.5 crore.
  • Ebitda up 127.7 percent at Rs 12 crore.
  • Margin at 12.5 percent versus 8 percent.

Thyrocare Technologies Q3 (YoY)

  • Revenue up 19.2 percent at Rs 83.9 crore.
  • Net profit up 134 percent at Rs 21.5 crore.
  • Ebitda up 34.7 percent at Rs 35.4 crore.
  • Margin at 42.2 percent versus 37.3 percent.
  • Exceptional loss of Rs 6.8 crore in base quarter.

Aarti Industries Q3FY18 (YoY)

  • Revenue up 28.6 percent at Rs 990.2 crore.
  • Net profit up 22.1 percent at Rs 90.2 crore.
  • Ebitda up 18.3 percent at Rs 177.8 crore.
  • Margin at 17.96 percent versus 19.50 percent.

Lumax Industries Q3 (YoY)

  • Revenue up 25.5 percent at Rs 370.8 crore.
  • Net profit up 9.1 percent at Rs 18.0 crore.
  • Ebitda up 29.8 percent at Rs 32.9 crore.
  • Margin at 8.9 percent versus 8.6 percent.

Relaxo Footwears Q3 (YoY)

  • Revenue up 24.9 percent at Rs 457.5 crore.
  • Net profit up 56.8 percent at Rs 38.18 crore.
  • Ebitda up 34.8 percent at Rs 71.86 crore.
  • Margin at 15.7 percent versus 14.5 percent.

Selan Exploration Q3 (YoY)

  • Revenue up 50.2 percent at Rs 21.22 crore.
  • Net profit up 166.8 percent at Rs 6.6 crore.
  • Ebitda up 314 percent at Rs 8.9 crore.
  • Margin at 41.9 percent versus 15.2 percent.

Accelya Kale Q3 (YoY)

  • Revenue up 4.5 percent at Rs 92 crore.
  • Net profit down 3 percent at Rs 22.3 crore.
  • Ebitda up 2 percent at Rs 35.6 crore.
  • Margin at 38.7 percent versus 39.8 percent.

Gujarat Gas Q3 (QoQ)

  • Revenue up 13 percent at Rs 1571 crore.
  • Net profit down 1.6 percent at Rs 60 crore.
  • Ebitda flat at Rs 200 crore.
  • Margin at 12.7 percent versus 14.5 percent.

Sical Logistics Q3 (YoY)

  • Revenue up 33 percent at Rs 329 crore.
  • Net profit down 40 pecent at Rs 6 crore.
  • Ebitda up 11 percent at Rs 43 crore.
  • Margin at 13.1 percent versus 15.6 percent.

Pokarna Q3 (YoY)

  • Revenue down 1 percent at Rs 88 crore.
  • Net profit down 21 percent at Rs 13.6 crore.
  • Ebitda down 6 percent at Rs 30 crore.
  • Margin at 34.1 percent versus 36 percent.

Inox Wind Q3 (YoY)

  • Revenue down 92 percent at Rs 91 crore.
  • Net loss of Rs 46 crore versus net profit of Rs 107.5 crore.
  • Ebitda loss at Rs 18 crore versus Ebitda profit of Rs 185 crore.
  • Margin at -19.8 percent versus 15.9 percent.

Jindal Drilling Q3 (YoY)

  • Revenue down 67 percent at Rs 36 crore.
  • Net loss of Rs 2.3 crore versus net profit of Rs 7.65 crore.
  • Ebitda loss at Rs 5.4 crore versus Ebitda profit of Rs 4.4 crore.
  • Margin at -15 percent versus 4.1 percent.

Union Bank Of India Q3 (YoY)

  • NII up 19.3 percent at Rs 2,548.26 crore.
  • Net loss at Rs 1,250 vrore versus net profit of Rs 104 crore.
  • Gross NPA at 13.03 percent versus 12.35 percent (QoQ).
  • Net NPA at 6.96 percent versus 6.70 percent (QoQ).

Procter & Gamble Hygiene Q2 (YoY)

  • Revenues up 9.5 percent at Rs 704.16 crore.
  • Net profit down 12.9 percent at Rs 131.24 crore.
  • Ebitda down 8.0 percent at Rs 210.23 crore.
  • Margin at 29.85 percent versus 35.54 percent.

Vinati Organics Q3FY18 (YoY)

  • Revenues up 12.9 percent at Rs 185.65 crore.
  • Net profit down 9.4 percent at Rs 31.73 crore.
  • Ebitda down 9.5 percent at Rs 49.84 crore.
  • Margin at 26.8 percent versus 33.5 percent.

Seshasayee Paper and Boards Q3FY18 (YoY)

  • Revenue up 1.3 percent at Rs 294.8 crore.
  • Net profit down 10.3 percent at Rs 30.92 crore.
  • Ebitda down 18.7 percent at Rs 47.8 crore.
  • Margin at 16.2 percent versus 20.2 percent.
  • This quarter includes exceptional gain of Rs 4.8 crore.

Brokerage Radar

Macquarie on Bajaj Auto

  • Maintained ‘Underperform’ with price target of Rs 2,900.
  • December quarter was lower than expected operating performance.
  • Domestic motorcycle market share continues to decline.
  • Exports grew strongly off a low base.
  • Three-wheelers near-term outlook is positive.
  • New models have not sustained initial momentum.
  • Expect Bajaj to grow slower than domestic motorcycle industry in the next financial year.

JPMorgan on Bajaj Auto

  • Maintained ‘Neutral’ with price target of Rs 3,250.
  • December quarter’s operating income in line with expectations.
  • Export recovery sustains; New market contribution is steadily improving.
  • Three wheeler was the best-performing segment for the business.
  • Recovery in domestic market key monitorable.

JPMorgan on Hindalco

  • Maintained ‘Overweight’ with price target of Rs 335.
  • December quarter missed estimates across operating income and net profit on account of Utkal.
  • Standalone operations do not fully capture earnings strength.
  • Prepayment of debt continues.
  • December quarter upside was limited by Coal India price increase.
  • Capital allocation key monitorable going forward.

Macquarie on Hindalco

  • Maintained ‘Outperform’ with price target of Rs 328.
  • December quarter’s standalone operating income was below estimate due to industrywide cost inflation.
  • Better placed during cost inflation.
  • Copper: Higher value addition to offset margin headwinds.
  • Aluminium – Headwinds from hedges and costs to reduce.
  • Novelis reported five-year high Operating margin
  • Hindalco remains high conviction top pick in metals coverage.

CLSA on Godrej Properties

  • Maintained ‘Buy’; cut price target to Rs 1,058 from Rs 1,078.
  • December quarter results below estimates on lower margins.
  • Cash flows were good with net debt down.
  • Pre-sales surge continues; Major scale-up in progress.
  • Project additions continue as ‘weak hands’ exit.
  • Godrej Properties remains top real estate sector pick.

Macquarie on Godrej Properties

  • Maintained ‘Neutral’; Raise price target to Rs 858 from Rs 650.
  • Business development in full swing; To remain strong focus area.
  • Liquidation of commercial inventory in BKC largely done.
  • Management expects prices to remain stable over next year.
  • Preferred picks are Prestige Estates and Phoenix Mills.

Morgan Stanley on Tata Global Beverages

  • Maintained ‘Underweight’ with price target of Rs 150.
  • December quarter was a mixed bag.
  • Strong performance in domestic business.
  • Revenue growth in international and plantation remained weak.
  • Starbucks and Nourishco now profitable at operating level.
  • See limited potential for any structural upturn in core business.

Stocks To Watch

  • GAIL places order of Rs 440 crore for 350 kilometers Vijaipur (UP) – Auraiya (MP) spur line and Rs 3,500 crore capex for City Gas Distribution in financial year 2019.
  • Tata Steel completes completion of 74 percent stake in Bhubaneshwar Power for Rs 255 crore.
  • GMR Infra to acquire 4.15 crore shares (11 percent) in GMR Hyderabad International Airport for $76 million (approx. Rs 484 crore).
  • Cera Sanitaryware to further explore the proposal to hike stake in Dubai arm.
  • Avenue Supermarts completes acquisition of 4.35 crore in Avenue E-Commerce for Rs 49.2 crore.
  • Info Edge clarifies that Alipay Singapore has acquired 32,629 shares in Zomato.
  • Mangalam Organics to buyback 6.10 lakh shares (6.74 percent equity) at Rs 230 each.
  • Aurobindo Pharma gets U.S. FDA approval for Niacin.

For a complete list of stocks to watch, click here

Offerings

  • Aster DM Healthcare Looking to raise Rs 980 crore via fresh issue of Rs 725 crore and offer for sale of Rs 255 crore in price band of Rs 180-190. IPO opens on Feb. 12 closes on Feb. 15.

Source: Financial Express

F&O Cues

  • Nifty February futures trade at 10,755.8. discount of 4 points premium of 14 points.
  • February series-Nifty OI down 4 percent, Bank Nifty OI down 7 percent.
  • India VIX ended at 15.2, up 8 percent.
  • Max OI for February series at 11,500 call strike , OI at 65.2 lakh, OI up 7 percent.
  • Max OI for February series at 10,500 Put, OI at 59.8 lakh, OI up 1 percent.

Trading Tweaks

  • Mahamaya Steel Industries and SORIL Infra Resources circuit filter revised to 10 percent.

Bulk Deal

Camlin Fine Sciences

  • Northern Trust Global Investments Collective Funds Trust bought 6.90 lakh shares (0.6 percent) at Rs 120.29 each.

Mastek Ltd

  • AJO Emerging Markets Small-Cap Master Fund, Ltd bought 1.26 lakh shares (0.5 percent) at Rs 461.17 each.

TTK Healthcare

  • The Royal Bank Of Scotland Plc As Trustee Of Jupiter India Fund bought 46,696 shares (0.6 percent) at Rs 812.4 each.
  • Jupiter South Asia Investment Company Ltd sold 46,696 shares (0.6 percent) at Rs 812.4 each.

Elpro International

  • The Royal Bank Of Scotland Plc As Trustee Of Jupiter India Fund bought 14.64 lakh shares (1.1 percent) at Rs 60.9 each
  • Jupiter South Asia Investment Company Ltd sold 14.64 lakh shares (1.1 percent) at Rs 60.9 each

Repco Home

  • Apax Global Alpha Limited bought 6.50 lakh shares (1 percent) at Rs 595 each.
  • Nomura India Investment Fund Mother Fund sold 6.50 lakh shares (1 percent) at Rs 595 each.

Yuken India

  • Indiabulls AMC bought 15,186 shares (0.5 percent) at Rs 4,296.24 each.

Talking Points

Good Morning!

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 1.2 percent to 10,587 as of 8:25 a.m.

Asian equities fell and U.S. stock futures headed lower, extending the biggest selloff for global stocks in two years as investors adjusted to a surge in global bond yields.

Shares sank across the region, putting the MSCI Asia Pacific Index on course for its biggest drop in almost 14 months. Benchmarks in Tokyo and Hong Kong tumbled at least 2 percent, while S&P 500 Index futures were 0.3 percent lower. The 10-year Treasury yield neared 2.87 percent after solid jobs data on Friday showed rising wages. The dollar was steady.

Also Read: How Spiking Bond Yields Really Could Topple A Stock Market Rally

Here are some key events scheduled for this week:

  • Monetary policy decisions are due in Australia, Russia, India, Brazil, Poland, Romania, the U.K., New Zealand, Serbia, Peru, and the Philippines.
  • Earnings season continues with reports from Bristol-Myers Squibb, Ryanair, Toyota Motor Corp., BNP Paribas, BP, General Motors, Walt Disney, SoftBank, Sanofi, Philip Morris, Total, Tesla, Rio Tinto, L’Oreal and Twitter.
  • Dallas Fed President Robert Kaplan and New York Fed President William Dudley are among policy officials due to speak in New York.

Commodities Check

  • West Texas Intermediate crude fell 0.9 percent to $64.89 a barrel.
  • Gold lost 0.2 percent to $1,331.12 an ounce.

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