Sensex Today live: Stock Market Highlights: Nifty forms small-bodied bearish candle. What

US stocks open higher as data eases inflation concerns

Power Grid Q3 Results

P&G Hygiene Q3 Results

NIFTY ON BUDGET DAY

COAL INDIA Q3: Net profit soars 69% YoY to Rs 7,719 cr; dividend declared at Rs 5.25/share

Coal India on Tuesday reported a consolidated net profit of Rs 7,719 crore for the quarter ended December 2022. The profit rose 69% when compared with Rs 4,556 crore clocked in the previous year period. The company has also declared second interim dividend of Rs 5.25 per share for the financial year 2022-23

Voda Idea board again approves issue of Rs 1600 cr bond to ATC, EGM on Feb 25

Crisis-ridden telco Vodafone Idea on Tuesday said its board has approved an issue of optionally convertible debentures of up to Rs 1,600 crore to vendor American Tower Corporation. After a meeting of the board of directors, the company in a regulatory filing said that it will convene an extraordinary general meeting on February 25 to seek shareholders’ nod for the same.”The Board of Directors of Vodafone Idea Limited…has again approved Preferential Issuance of up to 16000 Indian Rupee denominated optionally convertible, unsecured, unrated and unlisted debentures…aggregating up to Rs 1,600 crores, convertible into equity shares at a conversion price of Rs 10 per equity share, to ATC,” the filing said.

Domestic equities traded in a range as investors await for an eventful week that includes Union Budget to be announced tomorrow, central banks interest rated decision globally and key US macroeconomic data. Nifty after opening higher, pared some gains after Finance Minister Nirmala Sitharaman tabled Economic survey 2023 in the Parliament. The index after witnessing mild swing closed with minor gains of 13 points at 17662 levels. Sectorially it was a mixed bag. Momentum was seen in Banking, Auto, Consumer and Metals ahead of budget. PSU bank sector saw a rally of 4% after witnessing selling in last two weeks. Markets are likely to see some volatility on budget day. Any constructive announcement by government in the Union Budget can take the market higher. The focus would be largely growth-oriented with emphasis on further development of infrastructure like roads, railways, water, metro cities. Further, a lot of emphasis would be laid on renewable energy in order to reduce the energy cost to GDP with more incentives being announce to push solar power, EV, public transport, etc. Thus, lot of stock specific action will be seen in these sectors.

– Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services

Voda Idea board again approves issue of Rs 1600 cr bond to ATC, EGM on Feb 25

Rupee traded weak by Rs0.42 at 81.94 against the dollar as foreign fund outflow kept pressure on rupee due to uncertainty over Adani group sell off in the last few days. The dollar index appreciation played its part on rupee weakness as the dollar was up at 102.33 compared to 101.30$ low last week. Rupee will grab cues from India’s Union Budget on 1Feb23 with the Government’s focus on income & expenditure forecast for the coming year. Rupee can be seen in range of 81.65-82.30.

– Jateen Trivedi, VP Research Analyst at LKP Securities

Tech View: Nifty forms small-bodied bearish candle. What traders should do on Budget day

Rupee tumbles 41 paise to close at 81.93 (provisional) against US dollar.

The Indian market has been underperforming compared to the rest of the world because it has been trading at premium valuations, which are in contrast to the moderation forecasted in the domestic economy for FY24. The premiumization has tapered, currently trading in-line with developed markets like the US; however, we continue to trade at a premium to other emerging markets. The Adani saga has prolonged the correction as FII selling has increased. Now the focus is on the outcome of budget and Fed policy, on which the market has a mixed view.

– Vinod Nair, Head of Research at Geojit Financial Services

Top gainers & losers in closing trade

Price as on 31 Jan, 2023 03:38 PM, Click on company names for their live prices.

Closing Bell: Sensex rebounds over 400 pts from day’s low, ends flat, Nifty tops 17,650; SBI rises 3%, Adani Power tanks 5%

Adani Enterprises FPO full subscribed, helped by non-institutional investors; muted response from retail investors, employees: BSE data

Prestige Q3 Results: Profit drops 36.5% to Rs 57.58 crore hurt by higher inventory expenses

Max Healthcare to consider fundraising on Feb 2

Price as on 31 Jan, 2023 02:45 PM, Click on company names for their live prices.

These 5 stocks gained the most in today’s trade

Price as on 31 Jan, 2023 02:28 PM, Click on company names for their live prices.

RUPEE WEAKENS PAST 82/$

Sun Pharma Q3 Results: PAT at Rs 2,166 cr vs ET NOW poll of Rs 2,077 cr | Cons revenue at Rs 11,241 cr vs ET NOW poll of Rs 11,100 cr

Sun Pharma announces an interim dividend of Rs. 7.50 per equity share of Re. l each of the Company for the financial year 2022-23

GCPL Q3 Results: Cons PAT at Rs 546 cr vs Rs 528 cr, up 3.6% YoY | Cons revenue at Rs 3,598.9 cr vs Rs 3,302.6 cr, up 9% YoY

GCPL Q3 Results

Digit Insurance to revamp $440 million IPO again after regulator concerns

Digit Insurance will refile papers for its $440 million initial public offering (IPO), the company told Reuters on Tuesday, after India’s market regulator raised certain compliance issues with employee stock plans in a private letter. It is the second such setback for Digit’s listing ambitions. The company, last valued at $3.5 billion by Sequoia Capital, provides general insurance services and is backed by investors such as Canadian billionaire Prem Watsa.

Economic Survey 2023

Economic survey tabled in Parliament | Pegs FY24 GDP growth to 6-6.8%

Defence sector, as every year before the budget has a wishlist out of which the important one is outlay for emphasis on indigenisation, which means emphasis on local production. The GOI definitely does a lot for the sector every year, also on the R&D side where they plan to spend a substantial amount. Therefore even this year we expect them to announce a significant budget for the space and research, electronic equipment and advancement on further localization.On PLI schemes we would say that the GOI is fostering healthy competition in the defence space through launching various PLI schemes. This would surely improve the quality of defence products and services and further enhance the defence sector. Also the country needs to improve on their space research, due to which we believe that further PLI schemes will be more focused on Space research.

– Ashwin Patil, Senior Research analyst at LKP Securities

Sector Watch: Nifty PSU Bank rallies over 3%, Nifty Media 2%

These IT stocks fall the most; Tech Mahindra worst performer

Price as on 31 Jan, 2023 12:28 PM, Click on company names for their live prices.

Central banks bought the most gold since 1967 last year, WGC says

Central banks added a whopping 1,136 tonnes of gold worth some $70 billion to their stockpiles in 2022, by far the most of any year since 1967, the World Gold Council (WGC) said on Tuesday. The data underline a shift in attitudes to gold since the 1990s and 2000s, when central banks, particularly those in Western Europe that own a lot of bullion, sold hundreds of tonnes a year. Since the financial crisis of 2008-09, European banks stopped selling and a growing number of emerging economies such as Russia, Turkey and India have bought.

Sensex Today: Index recovers from day’s low, turns flat

Balaji Solutions gets SEBI nod for IPO

Kolkata-based Balaji Solutions Limited has received final observation from the capital markets regulator, Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO). The public issue consists of a fresh issue of equity shares worth up to Rs 120 crore and an offer-for-sale (OFS) of up to 75,00,000 equity shares by Promoter and selling shareholders, which…