Adani Wilmar IPO issue subscribed 17.34 times, NII portion booked 56.3 times on final day
Tata Motors Q3 consolidated net loss at Rs 1,516 crore, sales drop 4.5%
Emami board to consider share buyback on February 3
Alkem Laboratories enters into an exclusive license agreement with Johns Hopkins University
HCL Technologies extends partnership with Husqvarna Group for digital solutions
Adani Total Gas to invest Rs 20,000 crore in CGD sector in next 8 years
Nifty Pharma index rises 1.5 percent led by the Alkem Laboratories, Cadila Healthcare, Dr Reddy's Laboratories
Indian trade body raises sugar production estimate
BSE Auto index up 1 percent led by the Balkrishna Industries, Tata Motors, Hero MotoCorp
Motilal Oswal maintains buy on Marico, target Rs 600
Benchmark indices erase some gains, Nifty holds above 17300
Infibeam Avenues approves bonus share issue
Adani Wilmar IPO subscribed 3.23 times, NII portion booked 8.18 times
Sun Pharmaceutical Industries reports net profit of Rs 2,059 crore in Q3FY22
NMDC fixes Lump Ore and Fines prices
Poly Medicure posts 2.3 percent fall in Q3 net profit at Rs 34.5 crore
Kotak Bank seen as quality bet to play credit growth recovery in economy
India's fiscal deficit is likely to stay elevated for some time, says Nomura
Adani Wilmar IPO final day | Issue subscribed 3.23 times, NII portion booked 8.18 times
Poly Medicure Q3 net profit slips 2.3% at Rs 34.5 crore against Rs 35.3 crore (YoY)
Bharti Airtel acquires around 25% stake in Bengaluru-based startup Lavelle Networks
Britannia Industries share price gains as revenues grows in December quarter
Market extends gains, indices trading at day's high
BSE Oil & Gas index up over 2 percent led by the BPCL, IOC, Reliance Industries
AU Small Finance Bank reports lower profit at Rs 302 crore in Q3FY22
Adani Wilmar IPO final day | Issue subscribed 1.92 times, retail portion booked 2.62 times
Info Edge soars 7% on strong Q3 earnings, upbeat views of management
US dollar holds near 18-month high ahead of busy central bank week
Adani Wilmar IPO final day | Issue subscribed 1.63 times, QIB portion booked 87%
UPL Q3 profit up 30.7% to Rs 936 crore
Avoid AGS Transact Technologies for long term: Gaurav Garg of CapitalVia Global Research
Marico share price jumps over 4 percent post December quarter earnings
BSE Realty index up 2 percent led by the Brigade Enterprises, Phoenix Mills, Godrej Properties
Info Edge share price gains 7 percent on strong Q3 earnings
Indian rupee opens 8 paise higher at 74.96 per dollar
Nifty IT index up 2 percent supported by the Mindtree, Tech Mahindra, L&T Technology Services
AGS Transact Technologies sees tepid debut, stock lists at Rs 176
Indices erase some early gains but still trading higher with Nifty around 17300
USFDA issues 3 minor observations to Granules Pharma's US facility
Dr Reddy’s Laboratories share price gains more than 2% post robust numbers
Larsen & Toubro share price slips over 2% post December quarter earnings
CLSA upgrades Reliance Industries to buy, raises target to Rs 2,955
AGS Transact Technologies to list today
Indian markets are likely to open gap up: ICICI Dierct
Dr Reddy’s Laboratories Q3 net profit up 3,468% at Rs 707 crore
L&T Q3 consolidated PAT falls 17% YoY to Rs 2,055 crore
Goldman Sachs expecting five rate hikes this year
GDP in focus for Economic Survey despite recent misses
NTPC Q3 profit jumps 19.3% to Rs 4,626 crore, operating income grows 26%
Dollar near 18-month high ahead of bumper central bank week
Japan's Dec factory output falls faster than expected
Japan's Dec factory output falls faster than expected
Oil rises, hovers near 7-year highs on supply fears, political risks
SGX Nifty indicates a positive start for the Indian indices:
Wall Street rallies, capping frenetic week with best day of the year
Index | Prices | Change | Change% |
---|---|---|---|
Sensex | 54,318.47 | 1,344.63 | +2.54% |
Nifty 50 | 16,259.30 | 417.00 | +2.63% |
Nifty Bank | 34,301.90 | 704.30 | +2.10% |
Biggest Gainer | Prices | Change | Change% |
---|---|---|---|
Hindalco | 428.40 | 37.45 | +9.58% |
Biggest Loser | Prices | Change | Change% |
---|---|---|---|
TATA Cons. Prod | 734.25 | -1.25 | -0.17% |
Best Sector | Prices | Change | Change% |
---|---|---|---|
Nifty Metal | 5727.45 | 367.50 | +6.86% |
Worst Sector | Prices | Change | Change% |
---|---|---|---|
Nifty Pharma | 12746.00 | 137.70 | +1.09% |
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Rajani Sinha, Chief Economist & National Director - Research, Knight Frank India:
The Economic Survey’s GDP growth projection of 8-8.5% for FY23 is quite conservative and lower than that projected by IMF. The Economic Survey has explained in detail the Government’s approach to handling this once in a century pandemic induced crisis.
The Survey talks in detail about the ‘Agile’ approach that the government has been adopting, which basically implies tracking closely the high frequency economic indicators and tweaking the government’s response on a real time basis as the crisis situation unfolds.
Apart from discussing in detail the sectoral developments and policy implementations, the Survey very aptly talks in detail about the developments on social parameters of Health and Education. As per the need of the hour, there is also a detailed discussion on sustainable economic growth. The Economic survey has very aptly discussed in detail the current issues for the Indian economy, now the critical aspect would be how the Central and state Governments handle many of these issues going forward
Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas:
The Nifty opened gap up on January 31 & attempted to stretch higher. It managed to surpass the level of 17400 on an intraday basis however couldn’t sustain in the higher territory. In terms of the Fibonacci retracement, 38.2% retracement of the entire Jan decline acted as a key barrier for the second consecutive session.
Internal structure shows that the Nifty can take a minor degree dip before stretching higher. Any dip in the near term is expected to subside near 17000. So a dip towards 17000 can be considered as a fresh buying opportunity.
Overall structure shows that the price action in the last few sessions is a part of the pullback process & the index can head towards 17600 in the short term
Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities:
As the markets were in an oversold position, today's sharp bounce back was on expected lines ahead of the Union Budget announcement.
The upward bias was also supported by firm global cues and the economic survey report that has pegged a strong GDP growth for FY23.
On intraday charts, the Nifty has maintained a higher bottom formation which also supports the uptrend. For the bulls, 17425 would be the important breakout level to watch. And if the market manages to trade above the same, we can expect a quick uptrend rally up to 17475-17550.
On the flip side, trading below 17250 could trigger further weakness up to 17100/17050 levels.
Adani Wilmar IPO Updates:
The initial public offering (IPO) of Adani Wilmar, the joint venture between Adani Group and Wilmar Group of Singapore, was subscribed 17.34 times by the afternoon of January 31, the final day of bidding, garnering bids for 212.5 crore equity shares against an offer size of 12.25 crore units.
Qualified institutional investors put in bids for 5.73 times of the portion reserved for them. QIB are vital to a public issue as their portion has to get at least 90 percent subscription.
Retail investors subscribed 3.85 times their part of allotted shares, while the portion set aside for non-institutional investors was booked 56.3 times.
Adani Wilmar has also reserved a part of IPO shares for its employees and shareholders, which has seen a subscription of 51 percent and 33.32 times, respectively.
Tata Motors Q3 result
Tata Motors on January 31 reported a consolidated net loss of Rs 1,516 crore for the quarter ended December as against a net profit of Rs 2,906.5 crore.
The Jaguar Land Rover maker reported a 4.5 percent year-on-year decline in consolidated revenues for the reported quarter to Rs 72,229 crore.
Analysts had expected the automaker to report a consolidated net loss of Rs 2,200 crore. In the previous quarter, the company had reported a consolidated net loss of Rs 4,441.6 crore.
Ajit Mishra, VP - Research, Religare Broking:
Markets started the week on a strong note and settled with nearly one and a half percent gains. Firm global cues led to an upbeat start however caution ahead of the crucial event of Union Budget capped the upside. All the sectoral indices contributed to the move wherein IT, realty and PSU banks were the top gainers. Consequently, the Nifty ended higher by 1.4%. The broader indices too ended in a positive range of 1.2-1.6%.
It’s going to be a crucial day as all participants will be closely eyeing the Union Budget. The main focus would be on the GDP growth numbers, fiscal deficit target and disinvestment plans.
Besides, sector-specific announcements and any relief on the taxation front will also be on participants’ radars.
At the same time, corporate earnings and auto sales numbers would continue to induce stock-specific volatility.
For further recovery, Nifty should decisively hold above 17,600 zone else profit taking may resume and push the index towards 16,800-17,000 zone. We recommend maintaining a cautious stance and suggest preferring hedged positions.
Sachin Gupta, AVP- Research at Choice Broking:
The benchmark index started positively and continued the upside for the day ahead of Budget 2022. The Nifty index has settled at 17339.80 with a gain of 1.4% while Bank Nifty closed at 379775.30 levels with 0.7% gains.
All the sectoral indices closed in green led by Nifty Realty, PSU Bank & IT with average gains of 3%.
Technically, the Nifty has breached the prior three days highs & settled in a green candle on the daily chart. The index is also trading above 78.6% Retracement Levels, which indicates further support around 16800 levels.
A momentum indicator RSI & MACD is suggesting positive crossover on an hourly chart, which adds positive strength for the coming day.
Although, we are expecting a high volatility in the index for tomorrow on the account of the Indian Budget. At present, the index has support at 17100/16800 levels while resistance comes at 17500/17650 levels. On the other hand, Bank Nifty has support at 37300 levels while resistance at 38700 levels.
Vinod Nair, Head of Research at Geojit Financial Services:
Taking positive cues from global markets and favourable takeaways from the Economic Survey report, the market rallied ahead of the Budget day with all major sectors in the green.
The major macro indicators of the survey gave confidence that the country is well placed to face future challenges with GDP growth for FY23 projected at 8-8.5%.
Global markets turned positive backed by gains in the US market as investors ignored geopolitical disturbances and turned their eye towards strong earnings numbers from tech firms.
Market Close: Benchmark indices ended higher on January 31 with Nifty closing above 17,300 as FY23 GDP forecast at 8-8.5% and ahead Union Budget to be presented on February 1 by Finance Minister Nirmala Sitharaman.
At close, the Sensex was up 813.94 points or 1.42% at 58,014.17, and the Nifty was up 237.80 points or 1.39% at 17,339.80. About 1773 shares have advanced, 1632 shares declined, and 142 shares are unchanged.
Tech Mahindra, Tata Motors, Wipro, BPCL and Bajaj Finserv were the top Nifty gainers, while losers were IndusInd Bank, Kotak Mahindra Bank, UPL, Coal India and HUL.
On the sectoral front, auto, pharma, IT, oil & gas, PSU Bank and realty rose 1-3 percent. BSE midcap and smallcap indices added 1-1.7 percent.