Nifty hits 15,000-mark for the first time ever

Benchmark indices open on a strong footing as Nifty50 hit the psychological mark of 15,000. BSE Sensex jumps 290.46 points at 50,904.75.

State Bank of India is up 13% at Rs 401 on posting robust Q3 results and most brokerage house re-rating the stock. Besides, IndusInd Bank, Kotak Mahindra Bank and HDFC also helped lift the indices. While Bharti Airtel, M&M, Maruti & Tech Mahindra were among losers.

The trend was firm among Nifty sectoral indices, led by the Nifty Bank index which hit a fresh lifetime high in intra-day deals and was trading 3% up.

The broader markets tracked the gains in their benchmark peers and were trading half a per cent up, each.

The Monetary Policy Committee will be announcing its policy decision today. While a majority of economists expect no change in interest rates, any indication of the central bank’s plan to normalise liquidity will be closely watched.

Results today
Britannia Industries, Mahindra & Mahindra, Punjab National Bank, Aditya Birla Capital, Alkem Laboratories, Ashoka Buildcon, Mrs Bectors Food Specialities, Cadila Healthcare, CG Power and Industrial Solutions, Equitas Holdings, Future Consumer, Fortis Healthcare, Gati, GSK Pharmaceuticals, Gujarat Gas, Jubilant Life Sciences, Narayana Hrudayalaya, Pfizer, RCF, Shipping Corporation of India

Stocks in focus
SBI, most brokerage houses has re-rated the stock on the back of robust Q3FY21 result. Net interest income (NII) for the country’s largest lender grew by 4% YoY/2% QoQ at Rs 28,820 cr; in line with consensus estimates. Net profit grew -7% YoY/14% QoQ at Rs 5,196 cr. Asset quality as reported improved with GNPA ratio to 4.77% vs 5.28% QoQ and Net NPA at 1.23% vs 1.59% QoQ. Even on proforma basis, asset quality improved with GNPA at 5.44% vs 5.88% in Q2FY21 and Net NPA at 1.81% vs 2.08% QoQ

Hero MotoCorp’s consolidated net profit rose 13.01% to Rs 1,019.18 crore on 37.73% rise in total income to Rs 10,032.61 crore in Q3 December 2020 over Q3 December 2019.

Vedanta said its sub-committee of board of directors of the company approved the expansion of Lanjigarh Alumina Refinery from existing capacity of 2 MTPA to 5 MTPA for Rs 3,779 crore approx. Completion of this project will place Lanjigarh Alumina Refinery as one of the world’s largest single-location alumina refinery complex.

Stove Kraft will make its debut on the bourses today, 5 February 2021. The IPO of the company was sold between January 25 and 28. The issue price is Rs 385 per share.

Biocon’s subsidiary Biocon Biologics has signed an agreement with the Clinton Health Access Initiative (CHAI) to expand access to lifesaving cancer biosimilars in over 30 countries in Africa and Asia as a part of the Cancer Access Partnership (CAP). The partnership is a significant step in delivering advanced cancer therapies to patients who need them the most and ensuring equitable access to high-quality biosimilars in low- and middle-income countries (LMICs).

Bharat Electronics entered into an Offset Contract under invest in kind with Joint Stock Company Rosoboronexport, Russia, for setting up industrial facilities for the manufacture of a wide range of aviation hoses at BEL Optronic Devices Limited, Pune, a subsidiary of BEL.

Tata Power Company’s consolidated net profit rose 28.39% to Rs 248.21 crore on 8.77% rise in total income to Rs 8,082.55 crore in Q3 December 2020 over Q3 December 2019.

Godrej Agrovet’s consolidated net profit rose 19.38% to Rs 61.60 crore on 13.84% fall in total income to Rs 1,549.12 crore in Q3 December 2020 over Q3 December 2019.

PSP Projects said it has received additional work order worth Rs 236 crore (including GST) for an Institutional project at Gujarat. The company has been ranked the L1 bidder (Lowest Bidder) by a regulatory authority for projects totalling to Rs. 420.89 crores (including GST) for construction of medical colleges at multiple locations at Uttar Pradesh.

Global markets
Overseas, Asian stocks rose on Friday after overnight gains stateside that saw the S&P 500 and Nasdaq posted record closing highs.

U.S. stocks jumped on Thursday, extending the rally into a fourth straight day as investors assessed a new batch of corporate earnings and solid economic data. The S&P 500 and Nasdaq posted record closing highs.

On the stimulus front, Democrats are moving forward with President Joe Biden’s $1.9 trillion Covid-19 relief proposal. Republicans have countered with a more modest $618 billion package, which includes new stimulus checks of $1,000 per person.

(With inputs from Capital Market – Live News)