CLOSING BELL: Adani Enterprises (up 15 per cent), Dr Reddy's Labs, Adani Ports, Kotak Bank, IndusInd Bank, Bajaj Finance, Bajaj Auto, ONGC, JSW Steel, and Eicher Motors led the recovery

Sensex drops 221 pts day ahead of RBI decision; Adani Ent up 15%, Paytm 5%

markets, investor, stock market, broker, trader

<div>
	<strong>CLOSING BELL</strong></div>
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<div>
	<strong>Stock market highlights</strong>: Equity markets gyrated between gains and losses on Tuesday as stock-specific action dominated the market mood. Besides, nervousness ahead of the Reserve Bank of India&#39;s interest rate decision added to the volatility. The S&P BSE Sensex fell 592 points from the day&#39;s high to hit an intra-day low of 60,063.5. It staged recovery in the fag-end to end at 60,286, down 221 points or 0.37 per cent.</div>
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<div>
	The Nifty50, meanwhile, bounced back from the intra-day low of 17,652.5 to settle at 17,722, down 43 points or 0.24 per cent. Adani Enterprises (up 15 per cent), Dr Reddy&#39;s Labs, Adani Ports, Kotak Bank, IndusInd Bank, Bajaj Finance, Bajaj Auto, ONGC, JSW Steel, and Eicher Motors led the recovery.</div>
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<div>
	In the broader markets, the BSE MidCap index added 0.02 per cent, and the BSE SmallCap index dipped 0.17 per cent. Among sectors, the Nifty FMCG index slipped 1.16 per cent, followed by the Nifty Auto index (down 1 per cent). The Nifty Realty added 0.88 per cent.</div>
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	<strong>Buzzing stocks</strong></div>
<div>
	<strong>Paytm</strong>: Shares of digital financial services firm One97 Communications, which owns Paytm, hit over three-month high of Rs 669.60 as they zoomed 20 per cent on the BSE in Tuesday&#39;s intra-day trade.The massive buying comes on the back of improved financial performance of the company in the October-December quarter (Q3FY23). The stock was trading at its highest level since October 18, 2022, having surged 28 per cent over the past two trading sessions. <a href="https://www.business-standard.com/article/markets/paytm-hits-over-3-mth-high-surges-28-in-2-days-on-improved-q3-performance-123020700429_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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	<strong>Adani group:</strong> Shares of Adani group companies were trading higher on the BSE in Tuesday&#39;s intra-day trade, recovering from the sharp fall recorded over the past eight trading sessions. <a href="https://www.business-standard.com/article/markets/adani-transmission-adani-wilmar-ndtv-snap-8-day-losing-streak-surge-5-123020700364_1.html" target="_blank"><strong>READ MORE</strong></a></div>

Business Standard

Sensex drops 221 pts day ahead of RBI decision; Adani Ent up 15%, Paytm 5% | News on Markets - Business Standard

Commodity check :: Oil prices rise, Brent crude gains 1%

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SGX Nifty points towards a positive start today

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Global markets :: Asian indices largely higher this morning

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Global markets :: Wall Street ends weak amid firm job growth

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Stay tuned for all the live market action and more!

Nifty 50:: Tata Steel, Hindalco top losers chart

Nifty 50:: Adani Enterprises lead gainers chart; Dr.Reddy's, Adani Ports also shine

CLOSING BELL:: Nifty 50 settles at 17,722, down 43 points

CLOSING BELL:: S&P BSE Sensex ends 221 points lower at 60,286

Earnings Alert: Ambuja Cements Q3 jumps 46%; stock up 2%

Ambuja Cements posted a 46 per cent growth in Q3FY23 net profit at Rs 368.99 crore for the quarter ended December 2022 as against Rs 252.81 crore in Q3FY22. Total income was up 11.8 per cent YoY at Rs 4,217.51 crore.<br />
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Balaji Amines slips 6%, hits 52-week low on disappointing Q3 results

Shares of Balaji Amines hit a 52-week low of Rs 2,161.35, falling 6 per cent on the BSE in Tuesday&#39;s intra-day trade, after the company reported a weak operational performance in the December quarter. The consolidated earnings before interest, tax, depreciation, and amortisation (Ebitda) declined 582 bps to 22.14 per cent, with the company attributing the fall in operating margin to de-growth in pharma and API sector. <a href="https://www.business-standard.com/article/markets/balaji-amines-slips-6-hits-52-week-low-on-disappointing-q3-results-123020700727_1.html?1675762803" target="_blank"><strong>READ MORE</strong></a><br />
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NABARD aims to raise Rs 3000-5000 cr in debut green bond issue: Report

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	India&#39;s National Bank for Agriculture and Rural Development (NABARD) plans to raise funds by issuing its first-ever green bonds and could tap the market this month, three bankers aware of the development told Reuters on Tuesday. <a href="https://www.business-standard.com/article/companies/nabard-aims-to-raise-rs-3000-5000-  cr-in-debut-green-bond-issue-report-123020700602_1.html?1675761254" target="_blank"><strong>READ MORE</strong></a><br />
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Paytm gains over 11% in last 2 days on early breakeven; should you buy?

One97 Communications (Paytm) declared very encouraging results for October-December quarter of the 2022-23 financial year (Q3FY23, beating its own guidance in terms of going earnings before interest, tax, depreciation and amortisation or Ebitda-positive. According to the management, Paytm was expecting to achieve breakeven only in the Q2 of FY24 whereas it has managed this (if we exclude ESOP pay-outs) three quarters early. <a href="https://www.business-standard.com/article/companies/early-breakeven-positive-for-paytm-stock-up-6-following-q3-results-123020601325_1.html" target="_blank"><strong>READ</strong><br />
<img alt="Paytm" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-11/09/full/1636447857-4302.jpg?im=Resize,width=640" /></a>

How an easy govt timeline on green hydrogen provides a breather to Adani

<div>
	Of the myriad projects across infrastructure and energy for which the Adani Group has plans, those for green energy are at their most nascent stage. If the crippling of its market cap last week forces the group to cut back on the scale or extend the timelines of its projects, plans to scale up production of green hydrogen could well be the easiest to clip. <a href="https://www.business-standard.com/article/companies/how-an-easy-govt-timeline-on-green-hydrogen-provides-a-breather-to-adani-123020601268_1.html" target="_blank"><strong>READ</strong><br />
	<img alt="hydrogen" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-02/22/full/1645548844-2406.jpg?im=Resize,width=640" /></a></div>

Adani Ports eyes Rs 15,000 cr Ebitda in FY23, will prepay Rs 5,000 cr debt

<div>
	Adani Ports and Special Economic Zone is targeting an Ebitda (earnings before interest, depreciation, tax and amortisation) of Rs 14,500-15,000 crore in the financial year ending this March, Karan Adani, CEO and wholetime director of APSEZ said. <a href="https://www.business-standard.com/article/companies/adani-ports-eyes-rs-15-000-cr-ebitda-in-fy23-will-prepay-rs-5-000-cr-debt-123020700653_1.html" target="_blank"><strong>READ</strong><br />
	<img alt="Adani Ports, APSEZ" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-03/03/full/1614784663-3212.jpg?im=Resize,width=640" /></a></div>
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Earnings Alert: Ramco Cements Q3 net drops 19%; stock gains 3%

The Ramco Cements reported a 19.3 per cent fall in Q3 net profit at Rs 67 crore for the quarter ended December 2022 as against Rs 83 crore the corresponding quarter a year ago. Total income, however, grew 29.7 per cent YoY to Rs 2,018 crore.<br />
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Stock of this smallcap company has zoomed 58% in 6 days on strong Q3 result

Shares of Apar Industries rallied 16 per cent to hit a new high of Rs 2,230 on the BSE in Tuesday&rsquo;s otherwise weak intra-day trade. In the past six trading days, the stock has zoomed 58 per cent after the company reported a massive 210 per cent year-on-year (YoY) jump in its consolidated profit to Rs 170 crore for the December quarter (Q3FY23) led by strong operational performance. <a href="https://www.business-standard.com/article/markets/stock-of-this-company-has-zoomed-58-in-6-days-on-strong-q3-results-123020700593_1.html?1675757017" target="_blank"><strong>READ MORE</strong></a><br />
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Earnings Alert: Adani Ports Q3 net slips 13%; stock pares gain

Adani Ports &amp; SEZ reported a 12.9 per cent decline in Q3 net profit at Rs 1,336.51 crore for the quarter ended December 2022 as against Rs 1,535.28 crore in Q3FY22. Total income, however, was up 7.2 per cent YoY at Rs 5,051.17 crore.<br />
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Stay selective on defensives amid current market volatility: Analysts

Given the uncertainty on how the market trajectory may play out ahead, analysts believe investors can rotate allocation from high beta stocks to defensive plays albeit selectively. <a href="https://www.business-standard.com/article/markets/stay-selective-on-defensives-amid-current-market-volatility-analysts-123020700559_1.html?1675754479" target="_blank"><strong>READ MORE</strong></a><br />
<div style="float: left; max-width: 600px;">
	<img align="" alt="Defensives go on offensive" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2016-02/16/full/1455642412-8111.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Defensives go on offensive" width="620" /></div>
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CG Power hits new high on heavy volumes; stock surges 18% in one month

A combined 4.75 million shares representing 0.31 per cent of total equity of the company changed hands on the NSE and BSE till 12:10 PM. <a href="https://www.business-standard.com/article/markets/cg-power-hits-new-high-on-heavy-volumes-stock-surges-18-in-one-month-123020700525_1.html?1675753155" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="power" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-01/27/full/1674841821-3949.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="power" width="620" /></div>
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Varun Beverages rallies 7% on strong December quarter earnings

The strong recovery in demand post the pandemic and continued efforts towards expanding the distribution network across markets resulted in a 41% growth in consolidated sales volume in CY22. <a href="https://www.business-standard.com/article/markets/varun-beverages-rallies-7-on-strong-december-quarter-earnings-123020700499_1.html?1675751626" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="PEPSI, VARUN BEVERAGE" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2020-04/27/full/1588007658-4152.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="PEPSI, VARUN BEVERAGE" width="620" /></div>
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Technical chart: Is this the right time to buy Vodafone Idea shares?

Back in 2012, when the stock climbed over the same average, the stock price doubled in three years. The 50-MMA has become a decisive indicator for the shares of Vodafone Idea. <a href="https://www.business-standard.com/article/markets/technical-chart-is-it-right-time-to-buy-vodafone-idea-shares-123020700477_1.html?1675750918" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Markets, bulls, bears, stocks, trading, technicals, market technical, technical analysis" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/misc/2021-05/20/full/markets-bulls-bears-stocks-trading-technicals-market-technical-technical-analysis-1621493768-31062620.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Markets, bulls, bears, stocks, trading, technicals, market technical, technical analysis" width="620" /></div>
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MARKET CHECK: Sensex near day's low, down over 100 points

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Vedanta picks David Reed as CEO of its Gujarat semiconductor business

Reed began his career at Texas Instruments in 1984, where he served for 26 years. <a href="https://www.business-standard.com/article/current-affairs/vedanta-picks-david-reed-as-ceo-of-its-gujarat-semiconductor-business-123020700198_1.html?1675748133" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Vedanta Resources" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2020-12/29/full/1609235533-0889.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Vedanta Resources" width="620" /></div>
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Adani Transmission, Adani Wilmar, NDTV snap 8-day losing streak, surge 5%

The promoters of the Adani group prepaid loans worth $ 1.11 billion on Monday, thus releasing the pledged shares in three key companies &mdash; Adani Green Energy, Adani Ports, and Adani Transmission. <a href="https://www.business-standard.com/article/markets/adani-transmission-adani-wilmar-ndtv-snap-8-day-losing-streak-surge-5-123020700364_1.html?1675745849" target="_blank"><strong>READ MORE</strong></a><br />
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India drops to third spot in MSCI EM index amid rout in Adani group stocks

With a weighting of 12.97 per cent, India is now ranked third after China and Taiwan which have a weighting of 33.49 per cent and 14.42 per cent, respectively, according to the factsheet released by the global index compiler. <a href="https://www.business-standard.com/article/markets/india-drops-to-third-spot-in-msci-em-index-amid-rout-in-adani-group-stocks-123020601288_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Tata Steel slips 5% on profit-booking after disappointing Q3 performance

The disappointing performance during the quarter was on the back of a sharp drop in realisations in Europe coupled with a non-cash deferred tax expense on account of British Steel Pension Scheme. &ldquo;Profitability was affected by sharp drop in realisations and spreads in Europe,&rdquo; Tata Steel said. <a href="https://www.business-standard.com/article/markets/tata-steel-slips-5-on-profit-booking-on-disappointing-q3-performance-123020700303_1.html?1675742856" target="_blank"><strong>READ MORE</strong></a><br />
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Broader markets :: Mid, smallcap indices edge higher

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Sectoral trends :: Mood mostly postive; FMCG, Metal indices in the red

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Sensex Heatmap :: 11 stocks decline in early deals; Tata Steel falls 3%

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Opening Bell :: Nifty little changed in early trade

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Opening Bell :: Sensex starts marginally above the flat line

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Commodity Heatmap :: Crude oil, Zinc among top gainers

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Pre-open Session :: Sensex holds tepid gains

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Rupee Opening :: INR starts higher after Monday's steep fall

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COMMENT :: 'Wait and watch for the dust to settle'

<div>
	There are huge uncertainties in the global equity markets now. The biggest uncertainty pertains to how the US economy is likely to perform this year. The surprise 517,000 job number in the US in January indicates a tight labour market and a strong economy.<br />
	<br />
	This means the Fed might continue to raise interest rates, perhaps twice more by 25 bp, this year. This has pushed up the bond yields with the 10-year at 3.62% now. This is negative for capital flows to emerging markets. Therefore, FIIs might continue to sell in India.<br />
	<br />
	In 2023, so far, FIIs were buyers only on 3 days and sold on all other trading days. Sustained FII selling and the Adani crisis have temporarily impacted sentiments. Investors may wait and watch for the dust to settle.</div>
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	&nbsp;</div>
<div>
	Meanwhile high quality stocks, particularly those which have declared good results, may be slowly accumulated.<br />
	<br />
	<em><strong>Views by:&nbsp;V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services</strong></em></div>

AEL's growth in m-cap was 9X of net profit even before Hindenburg struck

Since then, various Adani Group stocks have lost 16 per cent (in case of ACC) to 60 per cent of their market capitalisation or m-cap (in case of Adani Total Gas) <a href="https://www.business-standard.com/article/markets/ael-s-growth-in-m-cap-was-9-times-of-profit-even-before-hindenburg-struck-123020601347_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Q3 results review :: PSBs' net profit jumps 66% on healthy interest margins

Eleven public-sector banks (PSBs) reported an average of 65.7 per cent year-on-year (YoY) growth in net profit at Rs 28,620 crore in the third quarter ended December 2022 (Q3FY23). Growth came primarily on the back of a steady rise in net interest income (NII). <a href="https://www.business-standard.com/article/finance/psbs-post-65-7-rise-in-q3-net-profit-on-healthy-interest-margins-123020601352_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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WATCH :: Is the selling in bank stocks after Adani group fallout overdone?

Early breakeven positive for Paytm; Should you buy?

According to the management, Paytm was expecting to achieve breakeven only in the Q2 of FY24 whereas it has managed this (if we exclude ESOP pay-outs) three quarters early. The results, and the absence of any UPI incentives implies that the company will book UPI incentives only in Q4. It is likely to easily over-achieve its Q4 projections for the top line.&nbsp;<a href="https://www.business-standard.com/article/companies/early-breakeven-positive-for-paytm-stock-up-6-following-q3-results-123020601325_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Vodafone Idea plans to get back in the game but fundraising a challenge

Vodafone-Idea is working on a multi-pronged strategy to begin its long journey to get back in the game but much hinges on how much money it can raise following the government&rsquo;s decision to go for equity conversion last week. <a href="https://www.business-standard.com/article/companies/vil-has-a-plan-to-get-back-in-the-game-but-can-it-raise-necessary-funds-123020601250_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Result today :: Airtel's Q3 revenue may rise 20% YoY

According to brokerage estimates, the telecom major is likely to report up to 19.7 per cent YoY growth in revenue to Rs 35,750 crore in Q3FY23 from Rs 29,867 crore in Q3FY22. Sequentially, they expect up to 4 per cent revenue growth from Rs 34,527 crore in Q2FY23, with increase in India and South Africa wireless revenue.&nbsp;<a href="https://www.business-standard.com/article/markets/airtel-s-q3-revenue-may-rise-19-7-yoy-vi-could-face-6-mn-subscriber-exits-123020600412_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-10/06/full/1665052871-8081.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="" width="620" /></div>
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