Indices at day's high; Nifty nears 12,200

Key benchmark indices advanced further and traded near the day's high in morning trade. Positive global cues boosted market sentiment. The Nifty ascended towards 12,200 mark. At 10:29 IST, the S&P BSE Sensex, was up 395.02 points or 0.96% at 41,374.64. The Nifty 50 index was up 120.75 points or 1% at 12,152.25.

The broader market underperformed the benchmarks. The S&P BSE Mid-Cap index was up 0.6%. The S&P BSE Small-Cap index was up 0.45%.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1195 shares rose and 671 shares fell. A total of 103 shares were unchanged. In Nifty 50 index, 45 stocks advanced while 5 stocks declined.

 

Delhi Election 2020:

Early trend suggested a clean sweep for Arvind Kejriwal-led Aam Aadmi Party (AAP) in Delhi. Counting of votes for the Delhi Assembly Election is underway, with the incumbent AAP leading in 50 and BJP in 20.

If Kejriwal wins the election this year, it would be a hat-trick for his party which has managed to win 67 seats in the 2015 polls. It will also be the third straight electoral setback for the BJP, which earlier failed to form state governments in Jharkhand and Maharashtra last year.

Q3 Earnings:

Coal India was up 0.56% ahead of Q3 December 2019 result today.

CRISIL (down 1.11%), Syndicate Bank (up 0.84%), ITD Cementation India (up 1.64%), HEG (down 2.18%), BHEL (up 0.78%), BEML (up 0.91%), Cochin Shipyard (up 0.33%), IRCON International (up 1.22%), Siemens (up 0.61%), Prism Johnson (down 0.3%), CESC (up 1.28%), Heidelberg Cement India (down 0.22%), Novartis India (up 0.26%), Spencer's Retail (up 2.32%), Hexaware Technologies (down 1.69%), GNFC (down 0.69%), Power Mech Projects (up 0.23%), VST Tillers Tractors (up 0.07%) and 3M India (up 0.89%) will announce their Q3 2019 earnings today.

Q3 Results Impact:

Shares of Petronet LNG were trading 1.51% lower at Rs 266.75. The company reported 15.8% rise in consolidated net profit to Rs 679.22 crore despite an 11.8% decline in net sales to Rs 8910.23 crore in Q3 December 2019 over Q3 December 2018. Total expenses of the company in the December quarter stood at Rs 7802.66 crore, down by 15.6% from Rs 9249.66 crore in the December quarter last year. This is primarily on account of lower raw material costs which stood at Rs 7,61,889 crore in Q3 FY20, down by 16.27% year-on-year (YoY).

Bombay Dyeing surged 2.09% to Rs 92.65 after the company reported a consolidated net profit of Rs 162.42 crore in Q3 December 2019 as against a consolidated net loss of Rs 195.55 crore posted in Q3 December 2018. Net sales declined 8.6% to Rs 377.70 crore in Q3 December 2019 over Q3 December 2018.

Shares of GE T&D were trading 0.71% higher at Rs 162.05. The company reported a net loss of Rs 37.70 crore in Q3 December 2019 as against a net profit after tax of Rs 53 crore reported in Q3 December 2018. On a standalone basis, net sales tanked 19.65% year-on-year (Y-o-Y) to Rs 940 crore in Q3 FY20. The operating loss for the quarter stood at Rs 31.10 crore in Q3 December 2019 as against an operating profit of Rs 102.10 crore recorded in Q3 December 2018.

Bajaj Consumer Care slumped 7.18% to Rs 205.50 after standalone net profit fell 16.7% to Rs 50.08 crore on a 7.4% decline in net sales to Rs 205.47crore in Q3 December 2019 over Q3 December 2018. The company reported a 23.07% decline in standalone EBITDA to Rs 55.69 crore in Q3 2019 as against Rs 72.39 crore posted in Q3 2018. EBITDA margin declined to 27.1% in Q3 December 2019 from 32.61% reported in Q3 December 2018.

Kalpataru Power Transmission was down 2.41% at Rs 439.1. On a consolidated basis, the company's net profit surged 16.5% to Rs 127 crore on a 15.1% rise in net sales to Rs 3162 crore in Q3 December 2019 as against Q3 December 2018. Consolidated Profit before tax (PBT) for Q3 FY20 stood at Rs 172 crore, down by 1.1% YoY. Tax expenses declined 34.4% to Rs 42 crore during the period under review.

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