Stock morning update for 27 january 2021
Indices at 10:00 am
Nifty50 14,130 ▼108 (-0.7%)
Sensex 47,994 ▼ 353 (-0.7%)
Nifty
Bank 30,878 ▼ 319 (-1%)
STOCK MORNING UPDATE
L&T’s Q3 result beats expectations
For Q3, the
engineering major's consolidated profit rose 4.9% YoY to ₹2,467 crore.
Meanwhile, consolidated revenue from operations declined 1.8% to ₹35,596 crore
for the same period.
The results beat street expectations.
Further, it received the highest ever orders in a quarter at ₹73,233 crore and
total order book stands at ₹331,061 crore, 9% higher than March 2020 levels.
The stock traded 1.1% higher today and has risen nearly 6% in January.
Mahindra Holidays’ Q3 revenue declines
Vacation and holidays
membership provider Mahindra Holidays reported 16% YoY drop in
consolidated revenue from operations and a net loss of ₹67 lakhs versus a
profit of ₹2 crore last year.
The company saw 75%
resort occupancies and membership additions on QoQ basis. However, operations
at its European subsidiary were affected by restrictions due to the second wave
of Covid. The stock opened 3% higher today but succumbed to selling pressure
and was trading 0.7% lower.
Navin Fluorine posts a strong Q3
The Specialty chemical
maker posted net profits of ₹56.4 crore in
Q3, an improvement of 25% YoY. Sales rose 19% to ₹309 crore during the same
period.
High-value businesses
contributed 65% of Q3 revenues and helped margin expansion. The company
recently announced a capex plan of ₹195 crore for a
multi-purpose plant at its Dahej facility in Gujarat. The stock ceded 1.8%
today.
Auto scrappage policy approved
The government has
approved the scrappage of vehicles that are older than 15 years.
However, it will be initially applicable only for government vehicles. The
policy will be effective from April 2022. The government has also approved a
levy of green tax on personal and transport vehicles.
Meanwhile, auto stocks
such as Ashok Leyland (-3.3%), Tata Motors (-2.7%), Eicher Motors (-2%)
witnessed selling pressure. The policy changes for personal as well as
commercial vehicles are yet to be announced.
Events this week
Wednesday: Crude
oil inventories (US)
Thursday: January
derivative expiry (India), Fed interest rate decision, initial jobless claims
(US)
Friday: GDP
growth, fiscal deficit (India), pending home sales (US)
|
Top gainers |
Top losers |
|
Nifty IT |
Nifty Metal |
|
NA |
Nifty Pharma |
|
Global markets |
Today's movement |
|
Nikkei 225 (Japan) |
▲ 0.2% |
|
Hang Seng (Hong Kong) |
▲ 0.2% |
|
SSE Composite (China) |
▼ 0.0% |
|
Dow Jones (US) |
▼ 0.0% |
Fact of the day
Chop suey is believed to have originated in California during the Gold Rush in the 1840s. The dish takes its name from the Chinese words Tsa Sui, which means ‘various bits of things’.
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Disclosures and
Disclaimer
Investment in securities markets are
subject to market risks; please read all the related documents carefully before
investing. The securities quoted are exemplary and are not recommendatory. Past
performance is not indicative of future results. Details provided in the above
newsletter are for educational purposes and should not be construed as
investment advice by RKSV group. Investors should consult their investment
advisor before making any investment decision.
Labels: Morning Update
posted by JAVED CHILLIMUTTUR @ January 27, 2021
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