Weekly trading diary: 5th to 9th February 2024

Tradingqna · February 4, 2024, 4:19pm

Welcome to the weekly trading diary, a thread for discussing your trades, strategies, ideas, news, stories, etc.

Here’s how the markets performed in the week ended 2nd February;

Things to look forward to in the week

Corporate earnings

5th February	6th February	7th February	8th February	9th February	10th February
Airtel	Berger Paints	Apollo Tyers	Apollo Hospitals	Bandhan Bank	Aurobindo Pharma
Ashok Leyland	Britannia Industries	Lupin Ltd.	Balrampur Chini Mills	Easy Trip Planners	Divi’s Laboratories
Cholamandalam Financial Holdings	Chambal Fertilisers & Chemicals	Manapurram Finance	Biocon	Emami Ltd.	ONGC
Tata Chemicals	FSN E-commerce	Nestle India	Escorts Kubota	Godrej Industries
Varun Beverages	Godrej Properties	Power Grid	Grasim Industries	Hero Motocorp
	Max Financial Services	Tata Consumer Products	LIC	IRFC
	P&G Health		Page Industries	MRF Ltd.
			Power Finance Corporation	Tata Power
			United Breweries	Zydus Lifesciences
			Zomato Ltd.
			Zydus Wellness

Economic events

	5th February		7th February		8th February
India	Services PMI (JAN)	US	Trade Balance (DEC)	India	RBI Interest Rate Decision
	Composite PMI (JAN)		Crude Oil Inventories	China	CPI Inflation (JAN)
Japan	Services PMI (JAN)			US	Jobless Claims
	Composite PMI (JAN)
China	Services PMI (JAN)
	Composite PMI (JAN)
Eurozone	Services PMI (JAN)
	Composite PMI (JAN)
US	Services PMI (JAN)
	Composite PMI (JAN)

Tradingqna · February 5, 2024, 2:29pm

Benchmark indexes declined by nearly 0.5% due to last-hour selling, with investors awaiting the RBI policy outcome later in the week. Dow and Nasdaq futures are trading lower.

Brent Crude: 76.91 -0.54%
USD INR Spot: 83.0284 0.23%.
India 10Y Bond yield: 7.095 0.64%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Indian Oil Corporation was the top gainer.

UPL was the top loser.

Earnings Update:

Alembic Pharma: Net Profit: Rs. 180.5 cr 48% YoY; Revenue: Rs.1630.6 cr 8.1% YoY.

Bajaj Electricals: Net Profit: Rs. 37.4 cr 38.8% YoY; Revenue: Rs. 1,228.2 cr 6.2% YoY.

Bharti Airtel: Net Profit: Rs. 2,442.2 cr 82.2% YoY; Revenue: Rs.37900 cr 2.3% YoY.

Tata Chemicals: Net Profit: Rs. 158 cr 60.3% YoY; Revenue: Rs. 3,730 cr 10.1% YoY.

SBIN: Net Profit: Rs. 9163 cr 35% YoY; NII: Rs. 105,733.78 cr 22% YoY.

News

Foreign portfolio investors posted a record monthly inflow of over Rs 19,800 crore into India’s debt market in January, the highest in over six years. Simultaneously, they withdrew Rs 25,743 crore from local equities due to rising US bond yields.

Payment processor Paytm is considering selling its wallet business in response to the Reserve Bank’s ban on Paytm Payments Bank. Potential investors such as HDFC Bank and Jio Financial Services are reportedly interested in acquiring the business.

The Indian video streaming market may consolidate if Reliance Industries acquires a majority of Disney’s India assets, enhancing its content portfolio with Disney’s English content alongside its focus on regional languages.

Private equity and venture capital investments saw a sharp decline, with the weekly total dropping to under $100 million, a 72% decrease from the previous week, as startups secured $95 million across 11 deals.

Tradingqna · February 6, 2024, 1:24pm

Benchmark indexes closed higher despite negative global cues, driven by increased buying in IT stocks. US futures are trading lower.

Brent Crude: 78.53 0.69%
USD INR Spot: 83.0629 0.04%.
India 10Y Bond yield: 7.09 -0.01%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

SAIL was the top gainer.

Crompton was the top loser.

Earnings Update:

Chambal Fertilizers: Net Profit: Rs. 459.4 cr 41.8% YoY; Revenue: Rs.4348 cr 47.6% YoY.

Nykaa: Net Profit: Rs. 16.2 cr 97.6% YoY; Revenue: Rs.1788.8 cr 22.3% YoY.

Navin Fluorine: Net Profit: Rs. 78 cr 26.8% YoY; Revenue: Rs. 501.8 cr 11% YoY.

News

The Reserve Bank of India (RBI) approved HDFC Bank Group’s proposal to acquire up to 9.50% aggregate holding in six banks, including Axis Bank, Bandhan Bank, ICICI Bank, IndusInd Bank, Suryoday Small Finance Bank, and Yes Bank, on February 5, 2024.

The parliamentary panel on finance, headed by MP Jayant Sinha, has suggested reducing the GST on health insurance products for senior citizens and microinsurance products to below 18 percent to enhance affordability.

The government has postponed the Vedanta Group’s semiconductor fab plant proposal due to the lack of a technology partner and is now exploring two new fab proposals, with no names disclosed, after Vedanta’s joint venture with Foxconn collapsed last year.

Dr. Agarwals Health Care, the majority-owned subsidiary of TPG and Temasek, is preparing for a $300-400 million public share offering in 2024, with a targeted valuation of $1.8-2 billion.

nithin_kumrr · February 7, 2024, 12:40pm

Benchmark indices erased their early gains and closed flat in a choppy session ahead of the RBI’s interest rate decision. Dow and Nasdaq futures are trading marginally lower.

Brent Crude: 79.02 0.52%
USD INR Spot: 82.982 -0.10%.
India 10Y Bond yield: 7.07 -0.25%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Trent was the top gainer.

Navin Fluorine International was the top loser.

Earnings Update:

Manapurram Finance: Net Profit: Rs. 575.3 cr 46.2% YoY; Revenue: Rs 1,452 cr 33% YoY.

Nestle India: Net Profit: Rs 655.61 cr 4.4% YoY; Revenue Rs 4,600.42 8% YoY.

Power Grid: Net Profit: Rs 4,028 cr 10% YoY; Revenue Rs 11,550 2.5% YoY.

Tata Consumer Products: Net Profit: Rs 301.5 cr 17.26%; Revenue Rs 3.803.9cr 9.47% YoY.

News

Gensol Engineering shares surged almost 10% to reach Rs 1,147 on the NSE following the company’s announcement of raising Rs 900 crore.

Air India SATS Airport Services Ltd has commenced domestic cargo handling operations at Birsa Munda Airport, Ranchi, serving as its official Operator and Management service provider.

The government collected Rs 25,000 crore from securities transaction tax by January, a 25% increase from the previous year, buoyed by heightened stock market activity.

Shares of Paytm surged up to 9% to Rs 495.75 on BSE following CEO Vijay Shekhar Sharma’s meetings with RBI officials and Finance Minister Nirmala Sitharaman, amid the company’s turbulent times.

Essar Group plans to invest billions in a green hydrogen plant, the world’s first green refinery, and an LNG and electric ecosystem to decarbonize heavy trucks, signaling a new growth phase.

Tradingqna · February 8, 2024, 1:33pm

Nifty and Sensex closed sharply lower, down 1%, following the RBI’s in-line monetary policy. Futures on the Dow and Nasdaq are trading slightly lower.

Brent Crude: 79.91 0.88%
USD INR Spot: 82.98 -0.09%.
India 10Y Bond yield: 7.084 0.14%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Cummins India was the top gainer.

Metropolis Healthcare was the top loser.

Earnings Update:

Apollo Hospitals: Net Profit: Rs. 245 cr 60% YoY; Revenue: Rs.4850.6 cr:arrow_up:13.8% YoY.

Escorts Kubota: Net Profit: Rs. 277 cr 48.8% YoY; Revenue: Rs.2320 cr 2.5% YoY.

Page Industries: Net Profit: Rs. 152 cr 23% YoY; Revenue: Rs.1229 cr 2.4% YoY.

Power Finance Corporation: Net Profit: Rs. 4727.4 cr 23% YoY; Revenue: Rs.23,571.8 cr 20% YoY.

Zomato Ltd.: Net Profit: Rs. 138 cr vs net loss Rs. 347 YoY; Revenue: Rs.3288 cr 69% YoY.

News

ITC Ltd shares declined as British American Tobacco (BAT) indicated a potential sale of some of its stake in the Indian conglomerate, where it holds the largest shareholder position.

SEBI has heightened scrutiny on IPO capital-raising objectives, expressing concern over firms using funds mainly for debt repayment, and requiring clearer disclosures on delays, defaults, or evergreening of borrowings.

Advent International eyes investments of up to $10 billion in India over the next five years, citing the country’s attractiveness, with $7 billion already invested in 2023 across various sectors and exits totaling $8.4 billion.

BigBasket’s quick-commerce arm, backed by Tata Digital, aims for profitability within six months, while the company targets overall profitability by early 2025, with its main grocery app and subscription-based delivery service already profitable and contributing 60-70% of total revenue.