Indices open at record highs, Sensex above 52,000-mark

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Indian benchmark indices did a gap up opening on February 15 as Sensex jumped 462 points to 52,009. The broader market index Nifty50 opened at 15,290 up 125 points on the back of strong global cues.

In opening trades, IndusInd Bank, Kotak Mahindra Bank, ICICI Bank, HDFC Bank & Bharti Airtel were trading with gains of close to 2%. Whereas ONGC, M&M, TechMahindra, Sun Pharma, HCL Tech were the laggards.

On the sectoral front, Nifty Bank, Nifty Financial Services, Nifty PSU Bank & Nifty Private Bank were all trading with gains of close to 1.5%. Except for Nifty Media & Nifty Pharma, all other sectoral indices were in the green. BSE Midcap & Small also gained 0.5% in early trades.

The market breadth also favoured the bulls as 1,063 stocks advanced, 683 stocks declined & 495 stocks remained unchanged.

Stocks in focus

Bharti Airtel: Board of directors will discuss the future strategic plans and reorganization of shareholding framework of subsidiary company(ies) which may result in consolidation/ acquisition of shares of subsidiary company(ies), the consideration of which may be discharged through issuance of equity shares of the company on a preferential basis and/ or cash in the board meeting scheduled on 17th February.

Tata Motors has appointed Marc Llistosella to the role of chief executive officer and managing director of the company effective 1 July 2021. Marc Llistosella will replace Guenter Butschek who informed his desire to relocate to Germany at the end of the contract for personal reasons. Butschek will continue to be a part of Tata Motors as the MD & CEO till 30 June 2021.

ONGC’s reported a net profit dropped 31.06% to Rs 3,763.53 crore on 8.38% fall in revenue from operations at Rs 1,00,288.83 crore in Q3 December 2020 over Q3 December 2019.

Glenmark Pharmaceuticals’ net profit jumped 30.05% to Rs 248.17 crore on 1.87% increase in total revenue from operations at Rs 2,786.76 crore in Q3 December 2020 over Q3 December 2019.

Deepak Nitrite reported 38.2% rise in consolidated net profit to Rs 216.56 crore on 10.3% rise in revenue from operations to Rs 1234.69 crore in Q3 FY21 over Q3 FY20.

Goodyear India’s net profit surged 312% to Rs 48.97 crore in Q3 FY21 compared with Rs 11.88 crore in Q3 FY20. Revenue from operations grew by 20.7% to Rs 514.34 crore in Q3 FY21 over Q3 FY20.

Info Edge (India) reported 22.7% decline in standalone net profit to Rs 69.87 crore on 15% fall in net sales to Rs 272.30 crore in Q3 FY21 over Q3 FY20.

Siemens reported 10.4% rise in standalone net profit to Rs 290 crore on a 15.9% increase in net sales to Rs 2858.20 crore in Q1 December 2020 over Q1 December 2019.

On a consolidated basis, the Phoenix Mills reported 28.8% fall in net profit to Rs 65.42 crore on 34% decline in net sales to Rs 337.84 crore in Q3 FY21 over Q3 FY20.

Amara Raja Batteries’ consolidated net profit jumped 17.98% to Rs 193.69 crore on 12.18% rise in revenue from operations at Rs 1,960.43 crore in Q3 December 2020 over Q3 December 2019.

CDSL becomes India’s first and only listed depository to open 3 crore plus active demat accounts.

Global markets

Overseas, Asian stocks are trading higher on Monday, with multiple markets in North Asia closed for Lunar New Year holidays. Markets in China, Hong Kong, Taiwan as well as the U.S. are closed on Monday for holidays.

Government data released on Monday showed Japan’s economy growing 12.7% on an annualized basis between October and December last year.

In US, all three major stock indexes closed at record highs Friday, as investors eyed the prospect of more financial aid from Washington to boost the economic recovery, while coronavirus cases are falling and vaccine distribution ramps up.

Stocks inched higher helped by optimism about another large fiscal stimulus package from Congress, as the coronavirus vaccination rollout picks up steam, and as quarterly corporate earnings reports impressed analysts.

In commodities, oil prices climbed to the highest since January 2020, with Brent crude rising 61 cents to $63.04 a barrel.