PI Industries: Confidence in achieving 20% revenue growth over the next few years
PI Industries is confident of achieving 20 percent revenue growth over the next several years, said Mayank Singhal, the company’s vice president and CEO on Thursday. PI Industries reported its third quarter, as exports increased 40 percent with proactive raw material planning coupled with efficient capacity utilization and national revenues increased 26 percent. “We expect a growth rate of more than 20 percent in the next few years,” Singhal told CNBC-TV18. Look here.
Buzz | Future Group Shares Slump After SEBI Delves CEO Kishore Biyani From Stock Market
Shares of Future Group companies plunged on Thursday after capital market regulator Securities and Exchange Board of India (SEBI) barred Future Group CEO Kishore Biyani from accessing the stock market for a year for engage in the use of inside information in the shares of the company.
In addition to Kishore Biyani, who was a CMD and promoter of Future Retail Ltd (FRL), others facing the ban include Future Corporate Resources Pvt Ltd, Anil Biyani and FCRL Employee Welfare Trust.
Market Watch: Shrikant Chouhan from Kotak Securities
Buy DLF with a stop loss of Rs 285 and a target of Rs 350.
Buy India Cements with a stop loss of Rs 163 and a target of Rs 185.
RPP Infra projects | The company’s joint venture has received an order worth Rs 174 crore from Greater Chennai Corporation. With this order, the company is on track to have a Rs 2,000 crore order book by the end of fiscal year 21.
HCL Technologies | The IT firm has signed a five-year Digital Workplace Services Agreement with Airbus. HCL will establish a modernized digital workplace to improve user experience and quality of service for the majority of Airbus employees worldwide.
Buzz | Shares of telecom operator Bharti Airtel rose more than 2 percent to hit a new 52-week high of Rs 623.00 each in early trading on Thursday, as the company turned profitable in the third quarter of the fiscal year. 2021 led by exceptional earnings. The company had reported losses in the previous four quarters. Bharti Airtel reported a net profit of Rs 854 crore in the third quarter of fiscal 21 led by exceptional earnings. The company’s net loss before exceptional items was 298 million rupees for the quarter.
Manish Hathiramani, Technical Analyst and Property Index Trader, Deen Dayal Investments
The Nifty has gotten a bit nervous as he heads to the next psychological level of 15,000. He’s taking a little breath. The trend is still bullish and we should be able to hit 15,000 during the course of this month. A buying approach on falls would be advisable. We have a support range between 14,200-14,400 and as long as it remains strong we can safely accumulate long positions in this market.
Gasoline and diesel prices go up 35 paise each; hit new highs today
Gasoline and diesel prices hit new highs as state fuel retailers raised rates Thursday by 35 paise each after keeping them unchanged for seven consecutive days. In Mumbai, the price of gasoline now stands at Rs 93.20 per liter. A liter of gasoline in Delhi now costs 86.65 rupees, according to Indian Oil Corporation, the country’s largest fuel retailer. In the national capital, the price of diesel now stands at Rs 76.83 per liter. The price of diesel in Mumbai is Rs 83.67 per liter.
Dependency industries | The company’s subsidiary, Reliance Marcellus, will sell its stake in the upstream assets of Marcellus Shale Play to Northern Oil & Gas for $ 250 million in cash and warrants. The agreement gives Reliance Industries the right to purchase 3.25 million shares of Northern Oil & Gas at $ 14 per share over the next 7 years.
The market opens | Benchmark Indian stock indices were flat with a negative bias on Thursday, dragged down by the sale of bank and financial stocks amid mixed global signals. Sensex opened 43.50 points or 0.09 percent lower at 50,212.25, while Nifty was down 0.90 points or 0.01 percent to open at the 14,789.05 level. Sales were seen in the banking index, while auto, metals and consumer goods stocks led the gains.
Market in pre-open | Sensex and Nifty are trading unchanged in the pre-opening session. As of 09:10 IST, the Sensex was down 43.50 points or 0.09 percent to 50,212.25, and the Nifty was down 0.90 points or 0.01 percent to 14,789.05.
Investor wealth exceeds Rs 12.31 lakh crore in 3 days; m-cap of companies listed on the EEB at a record level
Investor wealth has soared by more than 12.31 lakh crore rupees in three days, bringing the market capitalization of all companies listed on the BSE to a record 198.43 lakh crore rupees on Wednesday as stocks continued their budget-driven rally.
The benchmark BSE Sensex index closed above the 50,000 all-time mark for the first time on Wednesday. The benchmark 30-share index closed 458.03 points or 0.92 percent higher at 50,255.75. During the day, it rose 728.67 points to its all-time high of 50,526.39. In three business days, the benchmark index has gained 3,969.98 points or 8.57%. Following bullish investor sentiment, the market capitalization of companies listed on the EEB increased by 12.31,140.96 crore in three sessions to a record of Rs 1.98.43,784.99 crore (2, 7 trillion dollars).
RBI 3-Day MPC Meeting Begins; focus shifts to liquidity measures and rates are expected to remain unchanged
The Reserve Bank’s Monetary Policy Committee (MPC) is expected to keep repurchase rates at 4 percent, a CNBC-TV18 poll showed. All 10 economists polled by CNBC-TV18 said they do not expect any rate cuts or hikes on the February 5 policy, as the central bank is expected to remain vigilant. Politics acquires more importance as it comes days after the Union Budget, which announced a much higher fiscal deficit target and a market debt program than expected, as the government seeks to boost economic growth. Read more here.
Rupee | The Indian rupee closed just 1 paisa higher at 72.95 against the US dollar on Wednesday amid a firm trend in domestic equity markets. In the interbank foreign exchange market, the local unit opened at 72.96 against the dollar and registered an intraday maximum of 72.92 and a minimum of 72.98. It finally ended at 72.95 against the US currency, registering a rise of just 1 paisa over its previous close. The dollar index, which measures the strength of the dollar against a basket of six currencies, was down 0.03 percent to 91.17.
OPEC + sticks to oil policy as prices rise to one-year highs
OPEC + maintained its oil production policy in a meeting on Wednesday, a sign that producers are happy their deep supply cuts are depleting inventories despite an uncertain outlook for a recovery in demand as The pandemic persists, said a Reuters report.
A Joint Ministerial Monitoring Committee of the Organization of the Petroleum Exporting Countries and its allies, known as OPEC +, is “optimistic for (a) year of recovery in 2021,” OPEC said in a statement after the panel met. virtually.
Oil has recovered from record lows reached last year, thanks to record production cuts from OPEC + that the group is beginning to relax. The global benchmark Brent index spread earnings after the meeting and rose to $ 59 per year.
SBI Q3FY21 Earnings – Here’s What To Expect
The State Bank of India (SBI) will report its third-quarter earnings on February 4. In sequence, it is expected to be a good quarter and loan growth is estimated to be around 6-8 percent YoY. The net interest margin (NIM) is expected to remain stable or improve sequentially as the accumulation of low cost deposits has been very strong. Provisions are expected to remain higher due to restructuring of the pro forma book / slippage. Asset quality is likely to improve, but guidance on restructured assets, cost of credit and loan growth will be closely watched. Look here.
Sebi excludes Future Group CEO Kishore Biyani from the stock market for 1 year
Market regulator Sebi on Wednesday barred Future Group CEO Kishore Biyani from accessing the stock market for a period of one year for engaging in insider trading on the company’s shares. In addition to Kishore Biyani, who was a CMD and promoter of Future Retail Ltd (FRL), others facing the ban include Future Corporate Resources Pvt Ltd, Anil Biyani and FCRL Employee Welfare Trust.
In addition, the regulator has imposed a fine of Rs 1 million each on Kishore Biyani, Anil Biyani and Future Corporate Resources. Furthermore, they have been asked to return 17.78 million rupees for illicit profits made by them. Read more here.
financial world | The Dow and S&P 500 rose slightly on Wednesday, posting a third straight session of gains, and Alphabet Inc shares hit a record after strong quarterly results. The S&P 500 rose 0.1% to close at 3,830.17. The Dow Jones Industrial Average advanced 36.12 points to close its trading day at 30,723.60 while the Nasdaq Composite fell slightly to close at 13,610.54.
Airtel Reports Third Quarter Net Profit of Rs 854 crore; records the highest consolidated quarterly revenue ever
Bharti Airtel reported a consolidated net profit of Rs 853.6 crore in the third quarter of fiscal 2021, led by exceptional earnings. The company’s net loss (before exceptional items) was Rs 298 million for the quarter.
Airtel posted its highest consolidated quarterly revenue of Rs 26,518 crore in the third quarter of fiscal year 21. Average mobile revenue per user (ARPU), a key metric for telcos, increased to Rs 166 from Rs 135 y / y.
Asian equities relax as caution persists despite markets calm
Asian stocks came under pressure on Thursday as a mixed Wall Street session gave investors little immediate reason to increase their risk positions following the recent social media-fueled trading chaos. Markets have calmed down significantly in recent days with the Cboe volatility index down on Wednesday as sharp swings in stock prices for GameStop and other social media favorites subsided and the retail business frenzy faded. , according to a Reuters report.
However, prudence continues to dominate sentiment despite positive corporate earnings and strong signs of economic recovery.
The Australian S & P / ASX 200 Index lost 0.34 percent during early trading and Japan’s Nikkei 225 fell 0.35 percent.
