SGX Nifty hints at a negative start for benchmark indices BSE Sensex and NSE Nifty 50. Adani Enterprises, HDFC Ltd, Titan Company among stocks to watch on Thursday, weekly F&O expiry day.
Indian benchmark indices are likely to open in red on weekly F&O expiry, hinted SGX Nifty. Ahead of the session, Nifty futures traded 93 pts or 0.53% lower at 17606 level on the Singapore Exchange. In the previous session, BSE Sensex closed with 158 points or 0.27% gains at 59,708, while NSE Nifty 50 fell 46 points to 17,616. “The market is likely to remain volatile after FOMC meet and the aftermaths of the Budget. Meanwhile, traders should keep a close tab on the mentioned levels and avoid aggressive bets till the trend gets clear,” said Osho Krishan, Sr. Analyst – Technical & Derivative Research, Angel One Ltd.
Read More: Share market holidays February 2023: BSE Sensex, NSE Nifty to remain closed for 8 days this month
Stocks in focus on 2 February, Thursday
Adani Enterprises: The Adani group flagship company has called off its Rs 20,000-crore follow-on public offering (FPO). It will return the FPO proceeds and withdraw the completed transaction, “given the unprecedented situation and the current market volatility”. Given the unprecedented situation and the current market volatility, the company aims to protect the interest of its investing community by returning the FPO proceeds and withdraws the completed transaction,” Adani Enterprises said in a statement. The FPO had managed to scrape through with help from foreign portfolio investors (FPIs) and subscriptions from wealthy investors, including family offices.
Britannia Industries: The company has reported a 156% on-year growth in consolidated profit at Rs 932.4 crore for Q3FY23 led by strong operating performance and exceptional income of Rs 359 crore. Revenue from operations at Rs 4,197 crore grew by 17.4% over a year-ago period. EBITDA jumped 51.5% on-year to Rs 817.6 crore for the quarter.
Coal India: The country’s largest coal mining company has announced production of 71.9 million tonnes of coal for January 2023, growing 11.5% over a year-ago month, while offtake rose by 6.1% to 64.5 million tonnes in the same period. These are provisional numbers.
Read More: Adani Ports shares fall 27% from day’s high; market cap slips below Rs 1 lakh crore
Eicher Motors: Royal Enfield sold 74,746 motorcycles in January 2023, rising 27% over 58,838 units sold in same month last year. But exports dropped by 23% to 7,044 motorcycles in the same period. The company has registered a 45% on-year growth by selling 6.91 lakh motorcycles in April 2022-January 2023 period.
Ashok Leyland: The commercial vehicle maker sold 17,200 units in the month of January 2023, growing 23% over a year-ago period with healthy growth across segments. Medium & heavy commercial vehicle sales increased by 28% to 11,050 units in the same period, and light commercial vehicle segment registered 17% on-year growth at 6,150 units for January.
Q3 Results today: HDFC, Tata Consumer Products, Titan Company, Aditya Birla Capital, Aegis Logistics, Apollo Tyres, Bajaj Electricals, Berger Paints India, Birlasoft, Cera Sanitaryware, Coromandel International, Crompton Greaves Consumer Electricals, Dabur India, Deepak Fertilisers, Godrej Properties, Karnataka Bank, Max India, SIS, Ujjivan Small Finance Bank, and Welspun Corp will be in focus ahead of their quarterly earnings on 2 February.
