Stocks in the news | Axis Bank, Hindustan Unilever, Tata Coffee, JK Paper, SBI, NCL Industries
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Emami gains on post Q3 results:
Emami share price was trading higher after the company declared its Q3 results. Company on January 27 reported 44.67 percent rise in consolidated net profit at Rs 208.96 crore for December quarter 2020 helped by sales growth and cost control measures. The company had posted a profit after tax of Rs 144.44 crore for the year-ago period, Emami said in a regulatory filing.
Revenue from operations was up 14.89 percent at Rs 933.61 crore in the quarter under review as against Rs 812.64 crore in the same period a year ago.
Way2Wealth Research on Larsen & Toubro: During Q3FY21, the company recorded highest ever order inflow of Rs 73,200 crore, +76 percent YoY led by large order wins in infra and hydrocarbon segment in the domestic market. With labour availability at full strength in Q3FY21, we expect sustained execution pick-up and improved productivity in 2HFY21. Also timely payments from Central/State governments provide comfort on working capital front. The management is clear to give preference to cash over revenue and will prefer to execute projects with timely cash payments from customers.
We believe that L&T is well-placed to emerge stronger given its financial, technical and managerial capability to sustain and gain market share. Taking into account high ticket size order wins and improving economic growth, we continue to remain positive with fair value of Rs 1,550-1,600.
Budget 2021 | Govt Likely To Increase Allocation For Infra Projects; L&T, KNR Constructions, Sadbhav Engineering To Benefit
There are expectations that railways will get higher allocation as the COVID-19 pandemic dealt a severe blow to the sector’s revenue in the current financial year.
Nitin Aggarwal, CEO, Religare Broking: While there are lot of expectations that FY22 Union Budget will take number of measures to ensure that the post COVID rebound in Indian economy is robust and sustainable, there are also hopes for market focused announcements that will cheer the sentiment on the street.
Among the key expectations, investors will look forward to the abolition of long-term capital gains tax or redefining long-term to two years and reducing the taxation to nil, while further allow indexation benefits to equity mutual funds and some relief on dividend distribution tax in hands of investors.
Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments: The level of 14,200-14,250 was a key support which the market disrespected in a jiffy. The fall thereafter has happened on the back of very high volumes. We could slide further to test 13,600. If we are unable to hold that level, we could fall more towards 13,100-13,200. As of right now, any up move can be utilised to short the Nifty. The resistance on the upside is at 14,400-14,500.
Buzzing:
JK Paper share price was down over 3 percent on January 28 after the company reported a decline of 51 percent in its consolidated net profit at Rs 64.59 crore for the third quarter ended December. The company had posted a net profit of Rs 131.85 crore in the October-December quarter a year ago.
Its total income was down 9.28 percent to Rs 770.45 crore during the period under review as against Rs 849.25 crore in the corresponding period of the last fiscal.
Market Updates: Benchmark indices are trading lower with Nifty below 13,850.At 10:29 IST, the Sensex was down 467.44 points or 0.99% at 46,942.49, and the Nifty was down 134.90 points or 0.97% at 13,832.60. About 1178 shares have advanced, 1113 shares declined, and 101 shares are unchanged.
Ravindra Rao, VP- Head Commodity Research at Kotak Securities.
Comex gold was trading 0.5 percent lower at $1,835 after declining 0.3 percent the previous day. Gold weakened as the Fed painted a downbeat outlook for the US economy but did not hint towards additional measures.
The Fed’s downbeat growth outlook and ECB’s willingness to cut rates pushed the US dollar higher, putting pressure on gold. ETF outflows also showed weaker investor interest.
Lower bond yields, mixed economic data from major economies, and rising virus cases supported prices. Gold has come under pressure but was unlikely to see a sustained decline as the US economic outlook and stimulus expectations may limit upside in the dollar.
With infrastructure push, Railways to see highest-ever capex in 2021-22
With the country’s railways infrastructure set for a massive revamp, the Indian Railways is likely to see its highest ever capital expenditure (capex) for 2021-22 in the upcoming Budget 2021. During the current financial year, the capex by the Indian Railways was pegged at Rs 161,042 crore, which is likely to grow in double-digits in 2021-22, if the finance ministry meets the Railway Board’s expectation.
“A lot of infrastructure projects are lined up. This includes new lines, doubling, tripling and electrification, overhauling of the existing signalling and telecommunication system, freight corridors, station redevelopment and introduction of modernized rolling stock,” said R Sivadasan, former finance commissioner with the Railways. The railways is expected to raise its market share in overall freight, from around 30 per cent now to 45 per cent in 2030.
Over 20 Stocks From Top 5 PMS Schemes Outperformed Nifty In December; Worth A Look?
Small & midcaps captured the limelight after two straight years of underperformance, and if we look at the PMS schemes which outperformed the index are mostly from the broader market space.
