Share Market HIGHLIGHTS: Sensex ends 802 pts lower, Nifty50 slumps to 21,522; financial, oil & gas, FMCG shares weigh on Dalal Street; Bajaj Finance plunges 5%
Share Market Today LIVE: Domestic equity benchmarks Nifty 50 and Sensex gave up initial gains in a volatile session on Tuesday amid mixed moves across global markets. Catch all the action on Dalal Street on January 30, 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 Today LIVE: Domestic equity benchmarks Nifty 50 and Sensex gave up initial gains amid volatile trade on Tuesday, January 30, amid mixed moves across global markets.
Investors awaited more of earnings reports from India Inc for domestic cues.
Catch all the latest updates about the January 30 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:
Latest Updates
Sensex ends 802 pts lower, Nifty slumps to 21,522 as financial, oil & gas, FMCG shares weigh on D-Street; Bajaj Finance plunges 5%
Share Market Today LIVE | Sensex drops over 850 pts, Nifty slides below 21,550 amid volatility
Indian Hotels Q3 results preview | PAT estimated to grow 14.4%, margin likely to see a slight drop
The Indian Hotels Company Limited (IHCL) is all set to report its financial results on Thursday, February 1.
Indian Hotels results expectations: What's in it for investors?
According to Zee Business research, the Tata Group hotel company is likely to report a 14.8 per cent year-on-year (YoY) increase in consolidated revenue to Rs 1,935 crore for the quarter ended December 31, 2023.
Further, IHCL's earnings before interest, taxes, depreciation, and amortisation (EBITDA) are estimated to grow by 16.2 per cent YoY to Rs 694 crore.
The hotel chain is likely to report a growth of 14.4 per cent in profit after tax (PAT) to Rs 438 crore.
Meanwhile, the research desk estimates a slight drop in the margin—a key measure of profitability for a business—to 35.1 per cent versus 35.4 per cent logged in the year-ago period. Read more
Share Market Today LIVE | Sensex drops nearly 600 pts, Nifty slides below 21,600 amid volatility
Share Market Today LIVE | Marico shares gain post-in-line Q3 results; is it the right time to invest?
Marico shares gain, a day after the Mumbai-headquartered FMCG company posted a set of Q3 results that were in line with analysts' estimates. Continuing a winning run for a second straight session, the stock trades 1.36 per cent lower at Rs 523.6 on BSE.
Marico Q3 results
After market hours on Monday, the homegrown FMCG major reported a 15.9 per cent increase in consolidated net profit to Rs 386 crore for the fiscal third quarter. Howver, the company registered a 1.9 per cent decline in quarterly revenue from operations to Rs 2,422 crore. Read more
BLS E-Services IPO | Should you subscribe? Check Anil Singhvi's view
The initial public offering (IPO) of the BLS E-Services is now open for subscription. The bidding for this IPO is open for three and will close on February 1, 2024. The company, which has diverse sources of revenue, aims to raise Rs 310.91 crore via the issuance of fresh shares.
BLS E-Services IPO Buy or Not: Check Anil Singhvi's View
According to Zee Business Managing Editor Anil Singhvi, there are chances of big listing gains in this IPO.
"Apply for big listing gains because there are chances that this IPO will do well on listing considering the kind of business it is into," Singhvi said.
BLS E-Services IPO: Positives
- Experienced management and strong promoter background
- Unique business model
- Strong growth record through acquisition
- Asset-light business model
- Free cash flow and debt-free. Read more
Stocks to Buy | HDFC Bank, Dr Reddy's Labs, HAL among analysts' top picks
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Himanshu Gupta, Avinash Gorakssakar, Rakesh Bansal, Kunal Saraogi, Sumeet Bagadia and Sandeep Jain share their top stock recommendations in this special segment, Pick of the Day.
On the top analysts' 'buy' list are stocks such as Dr Reddy's Laboratories, Cummins India, Persistent Systems, Hindustan Aeronautics Ltd (HAL), HDFC Bank, Heidelberg Cement and Shree Digvijay Cement. Read more
Share Market Today LIVE: Buy Divi's Labs shares, says Shilpa Rout
Shilpa Rout of Prabhudas Lilladher recommends buying Divi's Labs shares for a target of Rs 3,800 with a stop loss at Rs 3,590.
Here's how the pharma stock has fared in the past year:
Image: BSEIndia.com
Share Market Today LIVE | BPCL hits new 52-week high as Q3 profit jumps 82% on year; Citi sees 14% upside
Shares of BPCL marks a fresh 52-week high of Rs 510.75, rallying as much as 3.68 per cent after the state-run oil marketing company (OMC) posted an 82 per cent jump in its net profit for the December quarter (Q3FY24).
The company's consolidated net profit for the October–December period of the current fiscal year came in at Rs 3,181.42 crore in comparison to Rs 1,747.01 crore logged in the same period of the previous financial year. In the July–September period, the company’s profit stood much higher at Rs 8,243.55 crore. Read more
Share Market Today LIVE: Buy Zyrus Lifesciences Rs 760 call option, recommends Shilpa Rout
Shilpa Rout of Prabhudas Lilladher recommends buying the Rs 760 call option of Zydus Lifesciences at Rs 31 for targets of Rs 41 and Rs 43 with a stop loss at Rs 25.
Sun Pharma Q3 Preview | Firm likely to post healthy set of numbers; gRevlimid sales expected to be around Rs 4.5 crore
Sun Pharmaceutical Industries, the multinational pharmaceutical company headquartered in Mumbai, is scheduled to release its December quarter (Q3 FY24) results on Wednesday, January 31. The pharma major, as per analysts, is slated to report a healthy set of numbers for the quarter under review.
According to Zee Business Research desk, consolidated revenue at the company is expected to grow 9.5 per cent year-on-year (YoY) to Rs 12,303 crore against Rs 11,241 crore logged in the year-ago period. EBITDA, or earnings before interest, taxes, depreciation, and amortisation, is pegged at Rs 3,259 crore, up 8.5 per cent YoY. In the corresponding quarter of the previous fiscal, EBITDA stood at Rs 3,004 crore. Read more
Share Market Today LIVE: Buy Tata Motors shares, sell SRF futures, says Sneha Seth
Sneha Seth of Angel One shares two trading calls with Zee Business viewers:
- Buy Tata Motors shares for a target of Rs 887 with a stop loss at Rs 842
- Sell SRF futures for a target of Rs 2,154 with a stop loss at Rs 2,282
Share Market Today LIVE: What market wizard Anil Singhvi recommends on newly-listed Epack Durable
Zee Business Managing Editor Anil Singhvi suggests investors hold on to their positions with a perspective of 1-3 years.
For short-term investors, he recommends placing a stop loss at Rs 215.
Share Market Today LIVE: Epack Durable shares trade at 6% discount to issue price
Epack Durable shares, which debuted in the secondary market at 10 am today, are quoting at Rs 216.3 apiece on BSE and Rs 216.3 on NSE, translating into a discount of around six per cent to the upper end of the issue price of the company's IPO which concluded last week.
Share Market Today LIVE | Vodafone Idea falls despite telecom firm reports good third quarter numbers
Vodafone Idea slips despite after the telecom company reported good operational and bottomline performance. The stock of the company is trading lower by 0.68 per cent, or Rs 0.1, at Rs 14.6 on BSE. Read more
Share Market Today LIVE | UTI AMC hits a 52-week high, Nippon Life AMC also jumps after mutual fund firms report strong Q3 numbers
UTI AMC shares hit a 52-week high of Rs 965, while Nippon Life India AMC trades in positive territory on BSE on Tuesday (January 30, 2024) after both mutual fund AMCs reported good December quarter numbers.
UTI AMC share price and Q3 results
UTI Asset Management Company is soaring higher by 7.15 per cent, or Rs 62.05, at Rs 929.6 on BSE. The AMC reported its Q3 number post market hours on Monday, reporting a 38 per cent rise in its standalone profit after tax (PAT) to Rs 150 crore against Rs 109 crore Year-on-Year (YoY)
Nippon Life Share Price and Q3 Results
The stock of the Nippon Life India Asset Management Company trade higher by 0.2 per cent, or Rs 1.05, at Rs 524.5 on BSE.
The company's standalone PAT jumped by 33.83 per cent to Rs 265 crore against Rs 198 crore YoY. Its revenue from operations for the December quarter was up by 18.78 per cent to Rs 392 crore compared to Rs 330 crore. Read more
Share Market Today LIVE: Sensex drops 394 pts from day's high amid choppy trade, Nifty50 sinks below 21,700
The Sensex slides as much as 393.6 points from its intraday high to hit 71,748.7 on the downside, having climbed to as high as 72,142.2 earlier in the day.
The Nifty50 has also succumbed to the red zone. At this hour, the Nifty50's intraday range broadly stands at 21,650-21,800.
Nifty50
Sensex
Images: NSEIndia.com, BSEIndia.com
Share Market Today LIVE: Market slides into the red amid weakness in Reliance, Bajaj Finance, HDFC Bank, ITC
While RIL, Bajaj Finance, HDFC Bank, ITC and ICICI Bank are the biggest contributors to the fall in Sensex at this hour, gains in blue-chip stocks such as Infosys, Hindustan Unilever Ltd (HUL) and TCS are lending support.
Image: BSEIndia.com
Budget Expectations | What do you expect from the February 1 Budget? Here's what experts predict
As the country awaits Finance Minister Nirmala Sitharaman to reveal what’s in store for the economy in the form of the Centre’s Budget for the coming financial year, 2024-25, expectations are rife—once again—that the annual event may spell good news for everyone.
Various experts, industry bodies, and analysts have laid out their Budget expectations days ahead of the presentation of the Interim Budget 2024-25 by the finance minister in Parliament on Thursday.
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 21,675-21,750 levels and a strong buy zone at 21,575-21,650 levels on Tuesday, January 30. For the Nifty Bank, he expects support to come in at 45,150-45,350 levels and a strong buy zone at 44,875-45,025 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
ITC Q3 review | Muted cigarette volume growth weighs on sentiment; should investors be worried?
ITC shares are on investors' radar on Tuesday, January 30, after the diversified conglomerate reported a weak set of financial results for the quarter that ended December 31, 2023. The stock trade 0.6 per cent lower at Rs 447.1 apiece on the NSE.
ITC Q3 results
The earnings were announced after market hours on Monday. ITC reported a jump of 10.75 per cent in its standalone profit after tax (PAT) and a rise of 8.52 per cent in revenue from operations year-on-year (YoY) as the company reported its December quarter results.
ITC share price target: What should investors do? Here is what the brokerages suggest?
ITC Brokerage Rating Target (INR) Jefferies Buy 520 JP Morgan Overweight 490 CLSA Outperform 486 HSBC Hold 480 Morgan Stanley Overweight 491 Goldman Sachs Buy 490 Citi Buy 500 Jefferies has maintained a 'buy' call on ITC. The brokerage has reduced the target by Rs 20 to Rs 520.
At a recent analyst meeting, the ITC chairman highlighted the possibility of consolidation of cigarette volumes in the near term, and that exactly played out, Jefferies added in its note. In 3QFY24, cigarette EBIT growth (+2%) was the slowest YoY in several quarters, which the brokerage highlighted with a trimmed EPS of 2–3 per cent. Read more
L&T Q3 Results Preview | E&C unit likely to aid 33% jump in net profit to Rs 3,400 crore
Larsen & Toubro (L&T) shares face selling pressure on Tuesday, January 30, as investors await the engineering and construction major's financial results for the October-December period due later in the day. L&T shares decline by as much as Rs 32.6, or 0.9 per cent, to Rs 3675.8 apiece on BSE.
Analysts expect the infrastructure conglomerate to stage a strong financial performance driven by robust growth in its engineering and construction unit, amid a reduction in debt and improvement in profitability from the Hyderabad Metro project.
According to Zee Business research, L&T is estimated to register a consolidated net profit of Rs 3,400 crore for the fiscal third quarter, an increase of 33.2 per cent compared with the corresponding period a year ago. The analysts peg the construction company’s quarterly revenue to increase 16.6 per cent on a year-on-year basis to Rs 54,100 crore. Read more
Currency Update | Rupee rises 3 paise to 83.13 against US dollar in early trade
Stocks to watch: L&T, Voltas, Vi, Marico, Bajaj Finance, ITC, NTPC
Here are some stocks that will be in focus on Tuesday, January 30:Results on January 30: Bajaj Finserv, Dr. Reddy’s Laboratories, L&T, M&M Financial Services, Voltas, Apar Industries, Jubilant Ingrevia, Kaynes Technology India, KPIT Technologies, Piramal Pharma, Adani Total Gas, Cochin Shipyard, JBM Auto, KEC International, PB Fintech, Keystone Realtors, Shyam Metalics and Energy, Strides Pharma Science, Suven Life Sciences, Texmaco Infrastructure & Holdings, and VIP Industries are some companies that will release their Q3 results.
Piramal Enterprises: The company incurred a consolidated loss of Rs 2,377.59 crore for the third quarter (Q3FY24) against a profit of Rs 3,545.37 crore a year ago. The company's revenue from operations for the quarter under review stood at Rs 2,475.65 crore against Rs 2,811.24 crore year-on-year (YoY).
Marico: The FMCG company recorded a net profit of Rs 386 crore for Q3 against Rs 333 crore a year ago. The total income of the company stood at Rs 2,465 crore for the quarter under review against Rs 2,510 crore YoY.
Heritage Foods: The company recorded a consolidated profit of Rs 26.90 crore for the quarter that ended on December 31, up from Rs 13.725 crore a year ago.
Bajaj Finance: The NBFC posted a profit after tax (PAT) of Rs 3,638.95 crore for Q3 against Rs 2,973 crore a year ago. The company's net non-performing asset (NPA) increased to 0.37 per cent against 0.31 per cent quarter-on-quarter (QoQ). Gross NPA increased to 0.95 per cent against 0.91 per cent QoQ. Read more
Share Market Today LIVE | Should you buy ITC, BPCL, BEL, other stocks today? Here's what brokerages recommend
As Dalal Street is set to enter the January 30 session, brokerages have several stock recommendations on their radar. Here's what Citi, HSBC, Jefferies, CLSA, Nomura, Morgan Stanley, JP Morgan, Macquarie and Goldman Sachs make of stocks such as ITC, Bharat Petroleum Corporation Ltd (BPCL), Bharat Electronics Ltd (BEL):
Bajaj Finance share target price:
Five brokerages, Citi, HSBC, Jefferies, CLSA and Nomura have a 'buy' call on Bajaj Finance with a target of Rs 8,975, Rs 8,900, Rs 9,400, Rs 9,500 and Rs 9,500, respectively.
Morgan Stanley and JP Morgan have maintained an 'overweight' rating on Bajaj Finance with a target of Rs 9,600 and Rs 8500.
Macquarie has a 'neutral' rating on Bajaj Finance with a target of Rs 8,100.
ITC share target price:
Jefferies has maintained a 'buy' call on ITC with a target of Rs 520
JP Morgan and CLSA have maintained an 'overweight' rating on ITC with target of Rs 486.
NTPC share target price:
Morgan Stanley has an 'overweight' rating on NTPC with a target of Rs 264. Read more
Traders' Diary | Buy, sell or hold strategy on Bharti Airtel, Bajaj Finance, Bharat Forge other 17 stocks for 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 Tuesday, January 30. Check out the complete list of stocks on analysts Kushal Gupta and Ashish Chaturvedi's radar.
Here's the complete list of investment and trading ideas for the day:
Kushal Gupta
- Buy KEC International shares in the cash segment for a target of Rs 640 with a stop loss at Rs 615
- Buy Petronet LNG futures for a target of Rs 272 with a stop loss at Rs 260
- Buy the Rs 7,200 put option of Bajaj Finance at Rs 230 for a target of Rs 350 with a stop loss at Rs 180
- Technical pick: Buy Indus Towers shares for a target price of Rs 240 with a stop loss at Rs 228
- Fundamental pick: Buy UTI AMC (Asset Management Company) shares for a one-year target of Rs 1,050
- Investment idea: Buy Bharat Forge shares for a one-year target of Rs 1,500. Read more
Share Market Today LIVE | Nifty reclaims 21,800, Sensex up nearly 100 pts
Nifty 50
Source: NSESensex
Source: BSE
Share Market Today LIVE | GIFT Nifty futures indicate a positive start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are up 105.75 points or 0.48 per cent at 21,961 ahead of the opening bell on Dalal Street.
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