A day for Nifty crash?

Good Morning Everyone, As discussed in the weekly meeting yesterday, Asian markets are reflecting the weakness of the global markets. Nikkei has fallen 2% this morning.


We need to watch 16800-16900 levels as the most important support zone, which if broken in the day, can turn bearish in the market.


Global Markets:

The US stock markets fell on Friday on worries over an imminent Russian invasion of Ukraine and concerns of inflation and interest rates. All the Wall Street indices lost more than 1 percent. S&P 500 tumbled 1.9 percent, while Dow Jones contracted 1.4 percent on close.


Asian shares slipped on Monday as warnings Russia could invade Ukraine at any time sent oil prices to seven-year peaks, boosted bonds, and belted the euro. The cautious mood saw MSCI's broadest index of Asia-Pacific shares outside Japan drop 0.2 percent, while Japan's Nikkei lost 2.1 percent.


Indian Market:

SGX Nifty is down nearly 1 percent indicating a gap-down opening for the Indian market.


The Life Insurance Corporation of India filed its IPO papers with the SEBI on Sunday. As per the DRHP, LIC's offer is entirely an offer for sale of 316,249,885 by the shareholder, the President of India, acting through the Ministry of Finance, Government of India. This means the government would sell a 5 percent stake via the IPO.


Results Today:

Eicher Motors, Graphite India, Grasim Industries, Balkrishna Industries, Coffee Day Enterprises, Dish TV India, NBCC, SpiceJet, and VST Tillers Tractors will report quarterly numbers later today.

Sebi on February 11 restrained Reliance Home Finance Ltd, industrialist Anil Ambani and three other individuals from the securities market for allegedly siphoning off funds from the company.


In its biggest bank fraud case, the CBI has booked ABG Shipyard and its former chairman and managing director Rishi Kamlesh Agarwal along with others for allegedly cheating a consortium of banks led by State Bank of India of over Rs 22,842 crore, reports said. Multiple other banks having exposure to ABG Shipyard fear loans turning bad.


Stock Specific News:

ONGC | The company reported a 45 percent YoY growth in revenue to Rs 1,45,685 crore in Q3FY22 while net profit zoomed 220 percent to Rs 11,637 crore.


TVS Motor Company | Promoter Sundaram Clayton on Friday sold around 95 lakh shares or a 2 percent stake in the company at an average price of Rs 635.97 per share through an open market transaction on the BSE. With this sale, Sundaram Clayton's stake will be at around 50.26 percent from 52.26 percent earlier.


RateGain Travel Technologies | The company turned profitable in Q3FY22 reporting a profit at Rs 0.085 crore against a loss of Rs 1.89 crore in the previous quarter and a loss of Rs 11.14 crore in the year-ago period. Revenue grew by 57 percent to Rs 99.01 crore during the quarter.


Kalpataru Power Transmission | Profit in Q3FY22 dropped 12 percent to Rs 270 crore YoY while revenue rose 11 percent to Rs 3,889 crore YoY.


Indigo Paints | The company clocked a 29 percent YoY jump in net profit at Rs 24.30 crore in Q3FY22 and revenue rose 26.6 percent to Rs 265.46 crore YoY.


VA Tech Wabag | The company reported a nearly 20 percent YoY growth in profit at Rs 45.49 crore as the EBITDA margin improved by 180 bps YoY to 10.6 percent. However, revenue fell 6 percent to Rs 745.48 crore YoY.


Force Motors | The net loss widened to Rs 39.90 crore in Q3FY22 against Rs 14.94 crore a year ago. However, revenue jumped 57 percent to Rs 778 crore YoY during the reporting quarter.


Metropolis Healthcare | The company posted a near 30 percent YoY decline in its net profit in Q3FY22 at Rs 41.21 crore as EBITDA margin dropped by 530 bps YoY to 27.5 percent. Meanwhile, revenue rose about 7 percent to Rs 293 crore YoY.





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