Stock Market highlights on February 9, 2024: Sensex rebounds 167 points to settle at 71,595, Nifty moves up 64 points to 21,782; banking stocks shine

The benchmark Sensex rebounded by 167 points in volatile trade on Friday amid buying in ICICI Bank, State Bank of India and Reliance Industries. The 30-share BSE Sensex climbed 167.06 points or 0.23 per cent to settle at 71,595.49. During the day, it hit a high of 71,676.49 and a low of 71,200.31. Read more

The Nifty rose by 64.55 points or 0.30 per cent to 21,782.50.

The rupee depreciated by 7 paise to 83.03 (provisional) against the US dollar on Friday, tracking a strong American currency and elevated crude oil prices in the international market. Read more

Vinod Nair, Head of Research, Geojit Financial Services: “After a volatile session, the market ended on a positive note, aided by a rebound in banking stocks, after yesterday’s sell-off. Mid- and small-cap indices bled the most as sentiment on the broader indices remains vigilant due to their rich valuation. Caution prevails in the market ahead of the release of US, UK, and Indian inflation data next week, while the US 10-year yield is inching higher.”

EaseMyTrip.com’s EBITDA reached ₹653.7 million, up by 10.9% year-on-year, with a Profit After Tax of ₹456.6 million, reflecting a 9.5% year-on-year growth. 

Easy Trip Planners stock declines by 4.39% on the NSE, trading at ₹50.15.

Persistent Systems informed that the Virginia Department of Taxation ordered a Penalty – $1,457.26 levied on Subsidiary Entity namely Persistent Systems.

The shares of SMS Pharmaceuticals surged 12.08 percent and are trading at Rs 146.60 on the Bombay Stock Exchange shortly before the closing of trading hours on Friday. The board of the Hyderabad-based company approved raising of funds through Issue of convertible equity warrants to the Promoters/Promoters Group by issuing up to Ninety lakhs warrants convertible in one or more tranches to equity shares of Rs 1 - each of the company at an issue price of Rs 127 including premium of Rs.126) for each warrant, aggregating to Rs.114,30 crore by way of preferential issue.

The drug maker posted an 8 percent increase in total revenue at Rs 161 crore in the third quarter ended December 31, 2023 as against Rs 149 crore in the same period last year. 

The net profit more than doubled at Rs 12.29 crore in the quarter under review compared to Rs 5 crore in the year-ago period.

PNC Infratech has incorporated a wholly-owned subsidiary Company in the name of ‘WESTERN BHOPAL BYPASS PRIVATE LIMITED’ as a Special Purpose Vehicle.

PNC stock falls 3.74% on the NSE, trading at ₹427.30.

Major gainers on the NSE at 3 pm:

Grasim (5.02%), Apollo Hospitals (3.52%), SBI (3.18%), Sun Pharma (3.03%), ICICI Bank (2.31%)

Major losers:

M&M (-2.27%), ONGC (-2.16%), UPL (-1.96%), NTPC (-1.86%), Bharti Airtel (-1.75%)

Stocks advanced on BSE at 3 pm on Feb 9, 2024, were 1,224 against 2,587 stocks that declined; 102 stocks remain unchanged. Total stocks traded were 3,913. The number of stocks that recorded a 52-week high was 345, and those that hit a 52-week low was 34.

The BSE Sensex rose 125.35 pts or 0.18% to 71,553.78. The NSE Nifty increased 67.60 pts or 0.31% to 21,785.55.

Kothari Petrochemicals has declared an interim dividend of ₹0.75 per equity share.

The company has reported its net profit for the quarter ended Dec 2023 at ₹14.40 crore as against ₹13.48 crore in Dec 2022.

Stock declines by 2.53% on the NSE, trading at ₹144.30.

Pfizer has reported its net profit for the quarter ended Dec 2023 at ₹129.98 crore as against ₹150.66 crore in the corresponding quarter ended Dec 2022.

The stock fell 3.66% on the NSE, trading at ₹4,350.

Chandra Prabhu International has completed the acquisition/purchase of the land parcel of an area measuring approx. 2.68 acres at Muzaffarnagar, Uttar Pradesh, to engage in real estate business.

Stock traded at ₹33 on the BSE, down by 2.91%.

Diamond Power Infrastructure has reported a net loss of ₹5.27 crore in the quarter ended Dec 2023, as against ₹15.44 crore loss in the quarter ended Dec 2022.

Shares trade at ₹283.35 on the NSE, up by 2%.

Indigo Paints reported standalone net profit for the quarter ended Dec 2023 at ₹37.70 crore as against ₹26.26 crore in the corresponding quarter ended Dec 2022.

Stock trades at ₹1,452.55, up by 0.70%.

Embraer Defense & Security and Mahindra have signed a Memorandum of Understanding (MoU) to jointly fulfill the acquisition of the C-390 Millennium multi-mission aircraft by the Indian Air Force in its upcoming Medium Transport Aircraft (MTA) procurement project. The MoU was signed at the Embassy of Brazil in New Delhi.

M&M stock declined 2.21% on the NSE, trading at ₹1,648.70.

Paras Defence and Space Technologies reported its standalone net profit for the quarter ended Dec 2023 at ₹7.60 crore as against ₹10.51 crore in the corresponding quarter ended Dec 2022.

Stock declines by 3.97% on the NSE, trading at ₹774.45.

The BSE Sensex rose 95.55 points or 0.13% to 71,523.98. The NSE Nifty gained 31.15 points or 0.14% to 21,749.10.

Prakash Industries said that the company has achieved Net Sales of ₹885 crore and EBITDA of ₹130 crore, reflecting growth of 16% and 25%, respectively, over the corresponding quarter of last financial year. 

However, the stock fell 4.77% on the NSE, trading at ₹194.75.

Mold-Tek Packaging has reported net profit for quarter ended Dec 2023 at ₹14.19 crore as against ₹16.31 crore in the corresponding quarter last year.

Stock trades at ₹877.10 on the NSE, down by 0.05%.

SML Isuzu has reported net profit for quarter ended Dec 2023 at ₹2.68 crore as against loss of ₹0.13 crore in the corresponding quarter previous year.

Stock trades at ₹1,573.90 on the NSE, down by 2.28%.

Datamatics Global has reported standalone net profit for the quarter ended Dec 2023 at ₹16.74 crore as against ₹25.24 crore in Dec 2022 quarter.

Stock slumps 7.02% on the NSE, trading at ₹664.65.

Sapphire Foods India has appointed Priya Adiseshan, as Chief People Officer, effective from February 9, 2024. 

Stock trades at ₹1,377.95 on the NSE, up by 0.89%.

PSP Projects board has approved raising of funds through QIP for ₹300 crore.

PSP Projects stock declines by 4.60% on the NSE, trading at ₹750.05.

Zydus Lifesciences has received tentative approval from USFDA to manufacture and market Dexamethasone Tablets USP, 1 mg. 

Stock declines by 1.71% on the NSE, trading at ₹788.30.

Bank of Baroda (2.84%)

SBI (1.96%)

ICICI BANK (1.79%)

Axis Bank (0.87%)

Sakuma Exports Ltd. has announced entry into maize procurement business with projected turnover of upto ₹500 Crore. 

Stock trades at ₹25.10 on the NSE, down by 5.82%.

BSE Limited, Asia’s oldest stock exchange, and Government of Maharashtra (GoMH) today signed a Memorandum of Understanding (MoU) on February 2024 to foster the growth, development, and progress of the Micro, Small, and Medium Enterprises (MSME) sector and MSME entrepreneurs by promoting the listing of SMEs on the BSE SME board.

The Government of Maharashtra is committed to advancing the interests of the MSME sector. BSE, recognized as a stock exchange under the Securities Contracts (Regulation) Act, 1956, brings its extensive experience and expertise to the collaboration.

Under the terms of the MoU, both parties have agreed to undertake collaborative programs and activities to sensitize the investor network about the advantages of listing for SMEs and startups. This includes guiding potential listed entities to attend capacity-building programs aimed at enhancing their understanding of the listing process and its benefits. As a part of MoU, BSE and GoMH will conduct collaborative programs and activities to raise awareness among investors about the benefits of SME and startup listing.

BSE will also assist MSMEs in connecting with intermediaries like merchant bankers, registrar, transfer agent, depositories and others. Under the MoU, BSE will also guide the MSMEs on anything regarding capital markets, capital raising mechanism and regulatory compliance and requirement. BSE will work with GoMH for educating the MSMEs through BSE products and platforms.

Automaker Tata Motors has ramped up its production capacity to accommodate the demand uptick of its electric vehicle -- Punch. Punch is the first offering from the carmaker’s electric vehicle architecture -- acti.ev.

Punch.ev, which was introduced in January at an introductory price of ₹10.99 lakh, has a separate offering for longer ranges. The vehicle’s price can go up to ₹14.49 lakh depending on the personas. The car has a top speed of 140 kmph and a battery pack of 25kWh, which offers a range of 315 km, whereas the longer-range Punch.ev has a battery pack of 35kWh that offers a range of 421 km.

(Nirmal Bang Retail Research)

Result has declined 

Revenue from Operations came at Rs. 198 Cr (-36% QoQ, -44.4% YoY) vs QoQ Rs. 309.1 Cr, YoY Rs. 356 Cr 

EBIDTA came at Rs. 10.8 Cr (-43% QoQ, -53% YoY) vs QoQ Rs. 19 Cr, YoY Rs. 23.1 Cr 

EBITDA Margin came at 5.5% vs QoQ 6.2%, YoY 6.5% 

Adj. PAT came at Rs. 11.9 Cr vs QoQ Rs. 20.4 Cr, YoY Rs. 17.3 Cr 

Quarter EPS is Rs. 1.1 

Stock is trading at P/E of 46.9x TTM EPS

(Nirmal Bang Retail Research)

Result has improved 

Revenue from Operations came at Rs. 743.9 Cr (50% QoQ, 29.5% YoY) vs QoQ Rs. 495.8 Cr, YoY Rs. 574.4 Cr 

EBIDTA came at Rs. 110.5 Cr (76.4% QoQ, 87.3% YoY) vs QoQ Rs. 62.6 Cr, YoY Rs. 59 Cr 

EBITDA Margin came at 14.8% vs QoQ 12.6%, YoY 10.3% 

Adj. PAT came at Rs. 91 Cr vs QoQ Rs. 46.3 Cr, YoY Rs. 43.5 Cr 

Quarter EPS is Rs. 3.8 

Stock is trading at P/E of 47.4x TTM EPS

(Nirmal Bang Retail Research) 

Result is ok 

Revenue from Operations came at Rs. 2884.2 Cr (-3.4% QoQ, 22.9% YoY) vs QoQ Rs. 2986.8 Cr, YoY Rs. 2346.5 Cr 

EBIDTA came at Rs. 213.4 Cr (-1.1% QoQ, 27.9% YoY) vs QoQ Rs. 215.7 Cr, YoY Rs. 166.8 Cr 

EBITDA Margin came at 7.4% vs QoQ 7.2%, YoY 7.1% 

Adj. PAT came at Rs. 244.6 Cr vs QoQ Rs. 250.7 Cr, YoY Rs. 190 Cr 

Quarter EPS is Rs. 2.6 

Stock is trading at P/E of 24.4x FY24E EPS

(Nirmal Bang Retail Research)

Result is above expectations 

Revenue from Operations came at Rs. 3710.6 Cr (11.9% QoQ, 16.2% YoY) vs expectation of Rs. 3497.4 Cr, QoQ Rs. 3316.6 Cr, YoY Rs. 3192.1 Cr 

EBIDTA came at Rs. 564.1 Cr (49.5% QoQ, 25.7% YoY) vs expectation of Rs. 489.1 Cr, QoQ Rs. 377.3 Cr, YoY Rs. 448.7 Cr 

EBITDA Margin came at 15.2% vs expectation of 14%, QoQ 11.4%, YoY 14.1% 

Adj. PAT came at Rs. 179.2 Cr vs expectation of Rs. 122.9 Cr, QoQ Rs. 23.8 Cr, YoY Rs. 139.4 Cr 

Quarter EPS is Rs. 3.6 

Stock is trading at P/E of 29.0x FY25E EPS

(Nirmal Bang Retail Research) 

Order book came at 20825 Cr vs 22080 Cr QoQ vs 21187 Cr YoY 

Result is above expectations 

Revenue from Operations came at Rs. 2017.2 Cr (25.3% QoQ, 52% YoY) vs expectation of Rs. 1849.4 Cr, QoQ Rs. 1610.4 Cr, YoY Rs. 1327 Cr 

EBIDTA came at Rs. 204.8 Cr (29.5% QoQ, 96.8% YoY) vs expectation of Rs. 178.1 Cr, QoQ Rs. 158.2 Cr, YoY Rs. 104 Cr 

EBITDA Margin came at 10.2% vs expectation of 9.6%, QoQ 9.8%, YoY 7.8% 

Adj. PAT came at Rs. 78.6 Cr vs expectation of Rs. 64.6 Cr, QoQ Rs. 53.6 Cr, YoY Rs. 36.5 Cr 

Quarter EPS is Rs. 4.6 

Stock is trading at P/E of 23.3x FY24E EPS

(Nirmal Bang Retail Research) 

Result is below expectations 

Revenue from Operations came at Rs. 403.2 Cr (-8.3% QoQ, -3% YoY) vs expectation of Rs. 437.8 Cr, QoQ Rs. 439.9 Cr, YoY Rs. 415.6 Cr 

EBIDTA came at Rs. 12.9 Cr (-22.3% QoQ, -54.2% YoY) vs expectation of Rs. 30.2 Cr, QoQ Rs. 16.6 Cr, YoY Rs. 28.2 Cr 

EBITDA Margin came at 3.2% vs expectation of 6.9%, QoQ 3.8%, YoY 6.8% 

Adj. PAT came at Rs. 0.3 Cr vs expectation of Rs. 21 Cr, QoQ Rs. 5.9 Cr, YoY Rs. 19.6 Cr 

Quarter EPS is Rs. 0 

Stock is trading at P/E of 23.2x FY25E EPS

Kirloskar Industries has reported standalone net profit for the quarter ended Dec 2023 at ₹4.48 crore as against ₹4.56 crore in the corresponding quarter last year.

Shares trade at ₹4,020 on the NSE, down by 4.18%.

MRF board has declared second interim dividend of ₹3 per equity share for the financial year ending March,2024. The Company has fixed February 21, 2024 as the Record Date for the purpose of payment of second interim dividend. It will be paid on or after March 4, 2024.

MRF stock trades at ₹1,38,103.10 on the NSE, down by 3.07%.

Petronet will supply liquefied natural gas (LNG), to Sri Lanka, beginning 2025, which will be utilised to run power plans with 300 megawatt (MW) capacity.

Initially, the LNG will be supplied through containers, and later the state run company, will establish a floating storage re-gasification unit (FSRU), in the island nation.

ESAF Small Finance Bank Limited has reported a robust growth in its net profit at ₹112 crore, which surged by 200 per cent in Q3 of FY24.

The net interest income grew 32 per cent to ₹597 crore. The pre-provisioning operating profit increased 20 per cent to ₹288 crore in Q3 FY24. The return on asset (ROA) and return on equity (ROE) stood at 2.3 and 25.5 per cent respectively.

Yatra Online Ltd announced the offering of the complimentary Yatra Prime Membership to its shareholders as on February 02, 2024. 

Yatra Online stock rise by 2% on the NSE, trading at ₹173.75.

:Orchid Pharma (16.36%)

Prism Johnson (13.49%)

Apollo Pipes (9.63%)

Yes Bank (5.33%)

Cyient DLM (5.21%)

Reliance Industries has taken on lease two floors of the Eros cinema building in south Mumbai, an iconic art deco style theatre, where it plans to open a brand new ‘Swadesh’ store with an area of around 20,000-25,000 square feet with space designated for food and beverages.

Coforge has inaugurated a public library in Sector 59, Noida. Coforge stock declines by 1.68% on the BSE, trading at ₹6,499.30.

Bharti Airtel is in receipt of a notice from Department of Telecommunications, Karnataka LSA (DoT), imposing a penalty of ₹3,06,000 for alleged violation of subscriber verification norms.

Stock declines by 1.65% on the NSE, trading at ₹1,123.30.

SEL Manufacturing announced that Meghna Mahendra Savla has been appointed as Chairperson of the company with effect from February 7, 2024. 

Shares trade at ₹89.40 on the NSE, up by 0.34%.

Reliance Industries has taken on lease two floors of the Eros cinema building in south Mumbai, an iconic art deco style theatre, where it plans to open a brand new ‘Swadesh’ store with an area of around 20,000-25,000 square feet with space designated for food and beverages.

Coal India (-3.42%), ONGC (-3.35%), Hindalco (-3.04%), NTPC (-2.34%), M&M (-2.14%)

Stocks advanced on BSE at 12 noon on Feb 9, 2024, were 938 against 2,782 stocks that declined; 121 stocks remain unchanged. Total stocks traded were 3,841. The number of stocks that recorded a 52-week high was 308, and those that hit a 52-week low was 31.

Sunpharma - 2.32%

Grasim - 2.02%

ApolloHosp - 1.78%

ICICI Bank - 1.74%

SBIN - 1.73%

Dixon Electro Manufacturing Pvt Ltd, a wholly-owned subsidiary of Dixon Technologies, has commenced its commercial production to manufacture refrigerators.

Dixon Technologies stock trades at ₹6,226 on the NSE, up by 0.03%.

UCO Bank (-6.95%)

IOB (-6.49%)

Central Bank (-5.73%)

Bank of Maharashtra (-5.71%)

PSB (-5.29%)

BSE Sensex declines by 121.39 points or 0.14% at 71,310.23 as of 11:27 a.m; and Nifty 50 trades at 21,659.25, down by 58.70 pts or 0.27%

J.Kumar Infraprojects has received Letter of Acceptance in the name of J. Kumar-NCC (JV) from Brihanmumbai Municipal Corporation for the work of “Mumbai Costal Road North Project- Package B (Bangur Nagar to Mindspace Malad Interchange (Chainage 4+540 to Chainage 6+200) and GMLR Connector (Elevated Road) (Chainage 0+000 to Chainage 4+460) for the total contract cost amounting over ₹4,548 crore.

J.Kumar Infraprojects stock fell 2.94% on the NSE, trading at ₹654.05.

BSE Sensex declines by 163.69 pts or 0.23% at 71,264.64 as of 11:05 am; and Nifty 50 trade at 21,652.25, down by 65.70 pts or 0.3%.

Major gainers on the BSE at 11:

Schneider Electric (11.09%); Apollo Pipes (10.04%); Grasim (10%); Prism Johnson (6.11%); Olectra (5.09%)

Major losers:

MSTC (-14.88%); Astra (-14.29%); PFC (-11.64%); RVNL (-10.17%); BEML (-9.46%)

Creative Newtech Ltd has announced tie-up with Palred Electronics to distribute their pTron brand of products across the country. 

Creative Newtech stock declines by 1.92% on the NSE, trading at ₹763.30

United Nilgiri Tea Estates Company Limited has declared interim dividend of ₹1 per equity share.

Stock rose 1.14% on the NSE, trading at ₹336.05.

Bank Nifty opened today’s session slightly lower at 44,987 as against yesterday’s close of 45,012. But the index recovered and is hovering around 45,325, up 0.7 per cent at the end of the first hour of trade.

The advance/decline ratio of Bank Nifty stands at 9/3, giving it a bullish bias. ICICI Bank, up 1.3 per cent, is the top gainer whereas Punjab National Bank, down 2.7 per cent, is the top loser.

Nifty 50 has been volatile today. The index has been oscillating up and down between 21,650 and 21,800. It is currently trading at 21,735, up 0.08 per cent.

Broadly, the sentiment is negative. Important resistance for the day is at 21,800. 

The public issue of Capital Small Finance Bank will close today. The IPO was subscribed 1.19 times so far..

The ₹523-crore initial public offering of Capital Small Finance Bank, with a price band of ₹445-468, received bids for 97.21 lakh shares against an offer of 81.43 lakh shares (net off anchor investors). The minimum lot size is 32 shares.

Manali Petrochemicals has informed that the overseas step-down subsidiary Pennwhite Limited, UK, has incorporated a 100% subsidiary Company in India viz., Pennwhite India Private Limited. The certificate of incorporation from Ministry of Corporate Affairs was received on 08th February 2024. 

With this incorporation, Pennwhite India Private Limited has become step-down subsidiary of the Company. 

Manali Petrochemicals stock trades at ₹76.85 on the NSE, down by 1.73%.

IREDA had received no objection letter from RBI for setting up of a wholly owned subsidiary in Gift City, Gujarat. 

Stock declined by 5% on the NSE, trading at ₹179.60.

Jet Freight Logistics has informed the resignation of Arvind Kumar Talan, Chief Financial Officer of the company, from the closure of business hours on February 09, 2024. 

Jet Freight stock trades at ₹14.45 on the NSE, down by 1.03%.

Life Insurance Corporation of India has toppled Infosys to 4th place in market capitalisation. The market capitalisation of LIC stood at ₹7.01-lakh crore while Infosys slipped ₹6.95-lakh crore.

Only Reliance, TCS and HDFC Bank are above LIC.

Aided by robust equity profits booked in bourses and strong operational performance, insurance behemoth Life Insurance Corporation of India (LIC) on Thursday reported a 49 per cent jump in the standalone net profit for the quarter ended December 31, 2023, at ₹ 9,444.41 crore (₹6,334.19 crore).

Excel Industries Limited has informed the Exchange regarding resignation of N R Kannan as Chief Executive Officer of the company w.e.f. Jun 30, 2024. 

The company’s stock trade at ₹860.55 on the NSE, down by 2.30%

On the NSE, major gainers were Apollo Hospitals, TCS, Reliance Industries, Titan and Bajaj Finance. Stocks such as BPCL, ONGC, Hindalco, Coal India, and UPL were the major laggards.

Biocon subsidiary, Biocon Biologics Ltd (BBL), a fully integrated biosimilar company, has announced a five-year partnership with Sandoz AG (Sandoz). The association aims to promote, sell, and distribute biosimilar Trastuzumab and biosimilar Bevacizumab in Australia. 

Under the agreement, Sandoz will distribute the Biocon Biologics’ brands, OGIVRI (bTrastuzumab) and ABEVMY (bBevacizumab), and facilitate sustained access of these medications that were previously distributed by another pharmaceutical company to patients in Australia.

Type of Offer: Acquisition

Acquirer: Nirma Limited 

Issue of Public Announcement: 21-September-23

Offer price Rs: 631.20

CMP: Rs 872.60

(%Prem.)/Disc.: -38.2 %

Offer Size : Rs 1343.05 Cr

Proposed Acq. No. of shares: 2.13 cr

Proposed Acq. : 17.33%

SCHEDULE OF ACTIVITY

Start Date: 15 February 2024

End Date: 29 February 2024

Obligation Date: 14 March 2024

Settlement Date: 15 March 2024

Ex Bonus 12 February 2024 (Monday)

Last date Trade for Before Bonus Today

Intellivate Capital Ventures Ltd.

Bonus issue 2:1

Previous day Closing Price – Rs. 162.8

K.P. Energy Ltd

Bonus issue 2:1

Previous day Closing Price – Rs. 1077

Ex-Dividend 12 February 2024 (Monday)

Last date for Cum-Dividend Today

Automobile Corporation Of Goa Ltd.

Dividend Per Share Rs.5

Previous day Closing Price – Rs. 1737.3

Banaras Beads Ltd.

Dividend Per Share Rs.2

Previous day Closing Price – Rs. 113.6

Carborundum Universal Ltd.

Dividend Per Share Rs.1.5

Previous day Closing Price – Rs. 1142.25

Clean Science And Technology Ltd

Dividend Per Share Rs.2

Previous day Closing Price – Rs. 1372.7

Cochin Shipyard Ltd

Dividend Per Share Rs.3.5

Previous day Closing Price – Rs. 911.15

Engineers India Ltd.

Dividend Per Share Rs.2

Previous day Closing Price – Rs. 240.7

Great Eastern Shipping Co.Ltd.

Dividend Per Share Rs.6.3

Previous day Closing Price – Rs. 994.2

Goodyear India Ltd.

Special Dividend Per Share Rs.26

Previous day Closing Price – Rs. 1373.1

Quess Corp Ltd

Dividend Per Share Rs.4

Previous day Closing Price – Rs. 497.2

Styrenix Performance Materials Ltd

Dividend Per Share Rs.48

Previous day Closing Price – Rs. 1613.4

Thangamayil Jewellery Ltd

Dividend Per Share Rs.4

Previous day Closing Price – Rs. 1351.4

Torrent Pharmaceuticals Ltd.

Dividend Per Share Rs.22

Previous day Closing Price – Rs. 2648.45

The Bengaluru-headquartered Jana Small Finance Bank’s public issue, which closes today for public subscription, has been subscribed 1.83 times. The IPO received bids for 1.85 crore shares as against an offer of 1.01 crore shares, (net of anchor portion).

The IPO, which comes out with a price band of ₹393-414, has a lot size of 36 shares

Crude oil futures traded marginally higher on Friday morning as Israel attacked southern city of Rafah on Thursday after rejecting the ceasefire offer by Hamas. At 9.14 am on Friday, April Brent oil futures were at $81.65, up by 0.02 per cent; and March crude oil futures on WTI (West Texas Intermediate) were at $76.27, up by 0.07 per cent. February crude oil futures were trading at ₹6323 on Multi Commodity Exchange (MCX) in the initial trading hour of Friday morning against the previous close of ₹6307, up by 0.25 per cent; and March futures were trading at ₹6339 as against the previous close of ₹6325, up by 0.22 per cent.

Entero Healthcare Solutions is a pharmaceutical and healthcare products (medical devices and surgical consumables) distribution company supplying to pharmacies and hospitals. As of FY23, Entero supplies to 81,400 retail pharmacists and 3,400 hospitals and handles more than 64,500 SKU sourced from 1,900 pharma and healthcare companies. The distribution network covers 495 districts through its 74 warehouses as of FY23.

Among the current IPOs that are opened, Rashi Peripherals has seen higher interest from investors. The IPO which closes today was subscribed 3.19 times.

The initial public offering of Information and communications technology products distributor Rashi Peripherals was subscribed on Day 1 itself, as non-institutional investors (known as HNIs) and retail investors covered their portions fully. The IPO comes out with a price band of ₹295-311 and the market lot is 48 shares.

SMS Pharmaceuticals will raise Rs 114 crore by way of preferential issue. The board of the Hyderabad-based company approved raising of funds through Issue of convertible equity warrants to the Promoters/Promoters Group by issuing up to Ninety lakhs warrants convertible in one or more tranches to equity shares of Rs 1 - each of the company at an issue price of Rs 127 including premium of Rs.126) for each warrant, aggregating to Rs.114,30 crore by way of preferential issue, BSE was informed.

MS on Grasim: Maintain Overweight on Company, target price at Rs 2430/sh (Positive)

MS on Page Ind: Maintain Overweight on Company, target price at Rs 42962/sh (Positive)

HSBC on Zomato: Maintain Buy on Company, raise target price at Rs 163/sh (Positive)

Jefferies on Zomato: Maintain Buy on Company, raise target price at Rs 250/sh (Positive)

Bernstein on Zomato: Maintain Outperform on Company, raise target price at Rs 180/sh (Positive)

HSBC on Cummins: Upgrade to Hold on Company, raise target price at Rs 2600/sh (Positive)

MS on UBL: Maintain Overweight on Company, target price at Rs 2075/sh (Neutral)

MS on Aarti Ind: Maintain Overweight on Company, target price at Rs 575/sh (Neutral)

MS on Zomato: Maintain Overweight on Company, target price at Rs 150/sh (Neutral)

HSBC on Lupin: Maintain Hold on Company, raise target price at Rs 1465/sh (Neutral)

Jefferies on Lupin: Upgrade to Hold on Company, raise target price at Rs 1460/sh (Neutral)

MS on Bharti Airtel: Maintain Equal weight on Company, target price at Rs 1190/sh (Neutral)

Nomura on Airtel: Downgrades to Reduce from Neutral; raise target price to Rs 478from Rs 445/Sh (Neutral)

Macquarie on Airtel: Downgrades to Neutral from Buy; raise target price to Rs 1,060 from Rs 990/Sh (Neutral)

Jefferies on ITC: Downgrades to Hold from Buy; cuts target price to Rs 420/Sh versus Rs 530/Sh (Negative)

ALKEM, BAJAJHIND, BANDHANBNK, CAMLINFINE, CAMPUS, CAPLIPOINT, CELLO, CENTRUM, DATAMATICS, DISHTV, DOMS, EASEMYTRIP, EMAMILTD, GLOBUSSPR, GMDCLTD, GODREJIND, GRAUWEIL, HAPPYFORGE, HERANBA, HEROMOTOCO, HINDMOTORS, HONASA, HUDCO, IFCI, INDIGOPNTS, INOXGREEN, INOXWIND, IRFC, ITDC, INOXWIND, KCP, KIRLOSIND, LANDMARK, LUMAXIND, MIDHANI, MOLDTKPAC, MRF, NEOGEN, NIACL, PARAS, PENIND, PFIZER, PIIND, PSPPROJECT, RENUKA, SCI, SJVN, SMLISUZU, TATAPOWER, TEGA, VPRPL, WABAG, ZYDUSLIFE

BANDHANBANK 

• NII expected at Rs 2539 crore versus Rs 2080 crore

• EBIT expected to be seen at Rs 1731 crore versus Rs 380 crore

• Net profit expected to be seen at Rs 786 crore versus of Rs 290 crore

EMAMILTD 

• Revenue expected at Rs 1001 crore versus Rs 982 crore

• EBITDA expected to be seen at Rs 305 crore versus Rs 293 crore

• EBITDA margin expected to be seen at 30.4% versus 29.8%

• Net profit expected to be seen at Rs 254 crore versus of Rs 237 crore

HEROMOTO 

• Revenue expected at Rs 9690 crore versus Rs 8031 crore

• EBITDA expected to be seen at Rs 1344 crore versus Rs 924 crore

• EBITDA margin expected to be seen at 13.8% versus 11.5%

• Net profit expected to be seen at Rs 1049 crore versus of Rs 711 crore

MRF 

• Revenue expected at Rs 5986 crore versus Rs 5535 crore

• EBITDA expected to be seen at Rs 1052 crore versus Rs 548 crore

• EBITDA margin expected to be seen at 17.5% versus 9.91%

• Net profit expected to be seen at Rs 435 crore versus of Rs 169 crore

PIIND 

• Revenue expected at Rs 1884 crore versus Rs 1613 crore

• EBITDA expected to be seen at Rs 471 crore versus Rs 415 crore

• EBITDA margin expected to be seen at 25.0% versus 25.7%

• Net profit expected to be seen at Rs 351 crore versus of Rs 352 crore

SJVN 

• Revenue expected at Rs 575 crore versus Rs 552 crore

• EBITDA expected to be seen at Rs 448 crore versus Rs 380 crore

• EBITDA margin expected to be seen at 77.9% versus 68.9%

• Net profit expected to be seen at Rs 315 crore versus of Rs 305 crore

TATAPOWER 

• Revenue expected at Rs 15,635 crore versus Rs 14,129 crore

• EBITDA expected to be seen at Rs 2860 crore versus Rs 2335 crore

• EBITDA margin expected to be seen at 18.3% versus 16.5%

• Net profit expected to be seen at Rs 1052 crore versus of Rs 991 crore

ZYDUSLIFE 

• Revenue expected at Rs 4451 crore versus Rs 4362 crore

• EBITDA expected to be seen at Rs 1035 crore versus Rs 956 crore

• EBITDA margin expected to be seen at 23.2% versus 21.9%

• Net profit expected to be seen at Rs 689 crore versus of Rs 622 crore

Q3FY24 EARNING CALENDAR 10.02.2024 

ADVENZYMES, AMBER, AUROPHARMA, CHEMCON,DIVISLAB, FLAIR, JAGRAN, KALAMANDIR, MANORAMA, MCX, NAHARSPING, ONGC, TVSELECT, UFLEX, YATHARTH

AMBER 

• Revenue expected at Rs 1580 crore versus Rs 1348 crore

• EBITDA expected to be seen at Rs 103 crore versus Rs 78.5 crore

• EBITDA margin expected to be seen at 6.51% versus 5.82%

• Net profit expected to be seen at Rs 22 crore versus of Rs 14 crore

AUROPHARMA 

• Revenue expected at Rs 7442 crore versus Rs 6407 crore

• EBITDA expected to be seen at Rs 1550 crore versus Rs 953 crore

• EBITDA margin expected to be seen at 20.8% versus 14.8%

• Net profit expected to be seen at Rs 867 crore versus of Rs 491 crore

DIVISLAB 

• Revenue expected at Rs 1980 crore versus Rs 1707 crore

• EBITDA expected to be seen at Rs 553 crore versus Rs 408 crore

• EBITDA margin expected to be seen at 27.9% versus 23.9%

• Net profit expected to be seen at Rs 398 crore versus of Rs 306 crore

MCX 

• Revenue expected at Rs 179 crore versus Rs 143 crore

• EBITDA expected to be seen at Rs 30 lakhs versus Rs 32.7 crore

• Net profit expected to be seen at Rs 1.6 crore versus of Rs 38 crore

• ASHOKLEY 

• AUROPHARMA 

• BALRAMCHIN 

• BIOCON 

• DELTACORP 

• HINDCOPPER 

• INDIACEM 

• INDUSTOWER 

• NATIONALUM 

• PNB 

• SAIL 

• UPL

China, Korea, Taiwan @ Market Holiday

12.30 Euro German Final CPI m/m (Expected: 0.2% versus Previous: 0.2%)

The Ramco Cements Ltd has proposed to double the capacity at its Kalavatala integrated cement manufacturing complex in Andhra Pradesh at an outlay of ₹1250 crore. It also plans to invest ₹153 crore in setting up a waste heat recovery system of 10 MW capacity at Ramasamy Raja Nagar Plant in Tamil Nadu.

The Securities and Exchange Board of India (SEBI) on Thursday asked 15 guest experts including Nirmal Kumar Soni, Partha Sarathi Dhar, Simi Bhaumik, Mudit Goyal, Himanshu Gupta, Ashish Kelkar and Kiran Jadhav, appearing on the Zee Business news channel to pay ₹7.41 crore for the “unlawful gains” that they made by taking opposite positions in the market than they advised on air.

The others are Ramawatar Lalchand Chotia, SAAR Securities India, Ajaykumar Ramakant Sharma, Rupesh Kumar Matoliya, Nitin Chhalani, Kanhya Trading Company, Manan Sharecom and SAAR Commodities.

According to the market regulator, they indulged in fraudulent and unfair acts and unlawfully enriched themselves by taking advantage of being in a position to influence innocent investors.

Buzzing Stocks: Kalyani Jewellers, Asian Energy, Telecom stocks, Railway stocks, IRCTC, CG Power, BHEL, TVS Supply Chains, Tata Power, Bandhan Bank, Hero MotoCorp, Honasa Consumer, Zydus Lifesciences, Alkem Laboratories, Bajaj Hindusthan, Campus Activewear, DOMS Industries, IRFC, MRF, New India Assurance Company, Pfizer, PI Industries, , Shipping Corporation, SJVN and Sundaram-Clayton

The pharmacy business of Apollo Hospitals group will touch ₹10,000 crore in revenue this year, the group’s Chief Financial Officer, Akhileswaran Krishnan, told businessline today. 

There are some 5,790 Apollo Pharmacies today, making it the largest pharmacy chain in the country. The group is adding pharmacies at the rate of 400-500 every year. 

However, the healthcare group wishes to grow its online pharma sales business. “We are growing the ‘online’ now; the online business is just beginning to grow,” Krishnan said

Closing Bell:

• Sensex: 71428.43(-723.57) 

• Nifty 50: 21718.00 (-212.50) 

• Nifty Bank: 45012.00 (-806.50) 

Nifty top 5 Gainers:

• SBI: 699.55(+24.30) 

• Power Grid Corp: 276.20 (+8.25) 

• BPCL: 620.50 (+18.45) 

• Hindalco: 601.30(+9.05) 

• Coal India: 459.20(+6.55) 

Nifty top 5 losers:

• Britannia: 4,875.55 (-202.70 ) 

• ITC: 414.55 (-17.25 ) 

• Kotak Mahindra: 1,729.70 (-62.90 ) 

• Eicher Motors: 3,807.30 (-120.35) 

• Nestle: 2,423.05 (-76.55)

Ashoka Buildcon: Paresh Mehta, CFO

Will Show Better Margin In The Coming Quarters: Ashoka Buildicon

https://www.youtube.com/watch?v=wsaTwDR7dXA

Firstsource Sol: Ritesh Idnani, MD and CEO

Firstsource Q3 Results; EBIT Margin At 10.7 %; Flat QoQ

https://www.youtube.com/watch?v=S5PJQkAPa2M

JB Chem: Nikhil Chopra, CEO

JB Chemicals Q3: New Launches Aid Growth

https://www.youtube.com/watch?v=xlLPb76RPb0

Lupin: Vinita Gupta, CEO

Lupin Q3 Results; 5th Consecutive Beat Quarter; EBITDA beat Consensus Estimates By 19%

https://www.youtube.com/watch?v=6fyRLasfwug

Lupin: Vinita Gupta, CEO

Idea Is To Double Down And Focus On Growth In India: Lupin

https://www.youtube.com/watch?v=qW5WOLXCmiY

Minda Inds: Sunil Bohra, ED&CFO

Aim To Outperform The Industry By 1.5x Over The Medium Term: Uno Minda

https://www.youtube.com/watch?v=H4cSxn-DtOE

Shalby : Shanay Shah, President

Shalby Q3 Results: Surgeries Dip Owing To Seasonality

https://www.youtube.com/watch?v=-0rz6lHMyo4

TATA Cons. Prod: Sunil D’Souza, MD and CEO

Tata Consumer Q3: Premium Biz Outperform

https://www.youtube.com/watch?v=yCFOD1Azukc

Triveni Turbine: Nikhil Sawhney, VC & MD

Have Seen Marginal 3% Growth In Our Domestic Market Orderbook For 9 Months: Triveni Turbine

https://www.youtube.com/watch?v=F5wLrupWYOk

Ashok Leyland: Shenu Agarwal, MD CEO

Medium-Term Outlook Is Positive, Have Incremental Orders Of 1000+ EV Buses: Ashok Leyland

https://www.youtube.com/watch?v=UFC3jkB3ODo

Events today…

https://www.researchbytes.com/Default.aspx?cc=event

Results today…

https://www.researchbytes.com/Default.aspx?cc=result

Replays available at www.researchbytes.com

Turnover : (NSE + BSE)

Cash Volume : 146914.22 + 11550.51 Total : 158464.73

F&O Volume : 548821.65 + 1622712.9 Total : 2171534.63

Provisional Cash Rs. In Crs.

FII/FPI: NET SELL: -4933.78 

(16248.71 - 21182.49) 

DII: NET BUY: +5512.32 

(17291.78 - 11779.46)

The Sovereign Gold Bonds (SGBs) issued on February 8, 2016 (SGB 2016-I) matured on February 8, 2024, and the premature redemption window for another series – the SGB 2016-17 Series I issued on August 5, 2016 – was opened by the Reserve Bank of India (RBI) on February 5, 2024.

Both series offered the same price of ₹6,271 per unit for redemption. The issue price of SGB 2016-I and SGB 2016-17 Series-I was ₹2,600 and ₹3,119, respectively. The former yielded a return of 15.4 per cent on maturity after eight years, while the latter returned 13.5 per cent for premature redemption, calculated using the XIRR method, including the interest received.

The stock of CONCOR (Container Corporation of India) is on a long-term uptrend. After witnessing a decline in price in early January, it resumed the rally by taking support at ₹820 towards the end of the month. 

Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS and SBI

Here’s an interesting stock idea; check out the latest bl.Today’s Pick episode to learn more.

The Nikkei index in Japan saw a rise at the start of trading on Friday, benefiting from the positive momentum on Wall Street as investors awaited corporate earnings updates. Meanwhile, Australia’s S&P/ASX 200 remained relatively unchanged, edging up by just 0.02 percent or 1.60 points to reach 7,640.80. Markets in China, Indonesia, South Korea, and Taiwan were closed for public holidays. 

The Nikkei 225 index climbed by 1.08 percent, or 398.40 points, reaching 37,261.68, while the broader Topix index surged by 0.45 percent, or 11.44 points, to hit 2,574.07.

Previously, the S&P 500 index managed to maintain a slight uptick on Thursday, briefly crossing the 5,000-point mark. This was driven by reactions to earnings releases, a jobs report that was in line with expectations, and comments from policymakers regarding potential interest rate adjustments.

The Dow Jones Industrial Average saw a rise of 48.97 points, or 0.13 percent, closing at 38,726.33. The S&P 500 gained 2.85 points, or 0.06 percent, ending at 4,997.91, while the Nasdaq Composite increased by 37.07 points, or 0.24 percent, to 15,793.72.