Sensex Today Tumbles 750 Points | Banking, Energy Stocks Under Pressure | Adani Group Stocks Crash up to 20%

Fri, 27 Jan 10:30 am

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Asian share markets struggled to find direction today as investors grappled with an onslaught of economic data and a string of mixed corporate earnings.

The Nikkei is trading flat while the Hang Seng is trading lower by 0.1%. The Shanghai Composite is up 0.8%.

The S&P 500 ended 1.1% higher on Thursday at the close of a rocky session, buoyed by Tesla Inc's earnings beat and upbeat sales forecast.

The Dow Jones ended higher by 0.6% while the tech heavy Nasdaq Composite ended higher by 1.7%.

Here's a table showing how US stocks performed yesterday:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	99.16	2.43	2.51%	99.21	96.82	152.1	83.45
Apple	143.96	2.1	1.48%	144.25	141.9	179.61	124.17
Meta	147.3	5.8	4.10%	147.51	143.3	328	88.09
Tesla	160.27	15.84	10.97%	161.42	154.76	384.29	101.81
Netflix	364.87	-3.09	-0.87%	369.02	361.7	458.48	162.71
Amazon	99.22	2.04	2.10%	99.49	96.92	170.83	81.43
Microsoft	248	7.39	3.07%	248.31	242	315.95	213.43
Dow Jones	33,949.40	205.6	0.61%	33,953.79	33,635.60	35,824.28	28,660.94
Nasdaq	11,512.40	199.1	1.76%	11,516.05	11,341.19	15,265.42	10,440.64

Source: Equitymaster

Back home, Indian share markets are trading on a weak note, tracking the losses in banking stocks and a steep fall in Adani group stocks.

At present, the BSE Sensex is trading lower by 738 points. Meanwhile, the NSE Nifty is trading lower by 205 points.

Tata Motors, and Bajaj Auto are among the top gainers today.

Adani Ports and ICICI Bank are among the top losers today.

Broader markets are trading on a negative note. The BSE Mid Cap index is trading lower by 0.9% and the BSE Small Cap index is trading lower by 1.3%.

Sectoral indices are trading on a mixed note. Stocks in power sector, energy sector and telecom sector witness selling.

While stocks in healthcare sector, and auto sector witness buying.

Shares of Jindal Saw hit their 52 week high today.

The rupee is trading at Rs 81.65 against the US dollar.

In the commodity markets, gold prices trade lower by 0.5% at Rs 57,194 per 10 grams.

Meanwhile, silver prices are trading higher by 0.1% at Rs 68,775 per 1 kg.

Speaking of stock markets, research analyst Brijesh Bhatia talks about stocks under Rs 100 to add to your watchlist in his latest video.

He focuses on 10 technical potential stocks from the midcap and smallcap space. He also talks about a sector to keep an eye on going forward.

Tune in to the below video for more details.

Tata Motors swings to profit after 7 quarters

After clocking losses for seven straight quarters, Tata Motors on Wednesday posted a consolidated net profit of Rs 30.4 bn in December 2022 quarter. The company posted a loss of Rs 15.1 bn in the same quarter last year.

This came on the back of a strong order book, better semiconductor chip supply, tempered commodity prices, and a better product mix.

For the December 2022 quarter, the revenue jumped by 22.9% YoY to Rs 896.1 bn.

Free cash flow (automotive) in the quarter was positive at Rs 53 bn against Rs 40 bn a year ago. This rise was due to an improvement in cash profits and working capital.

Arm Jaguar Land Rover Automotive, the biggest unit of Tata Motors, reported 28% YoY growth in revenue to £ 6 bn. It reported a net profit of £ 265 m against a loss of £ 9 m a year ago.

Tata Motors remains cautiously optimistic about the demand situation despite global uncertainties.

Its commercial vehicle revenue rose by 22.5% YoY to Rs 169 bn, while its passenger vehicle revenue rose by 37% YoY to Rs 117 bn.

The December 2022 quarter was the best for the passenger vehicle industry, as Tata Motors saw its highest-ever retail sales, which crossed 50,000 units.

The company is leading the electrification drive domestically with a dominant 80% market share in the electric PV space.

People are excited about investing in Tata Motors because of its aggressive EV plans. it's the company has bright prospects in the EV sector.

Tata Motors remains in a fast lane when it comes to electric vehicles (EVs). The Tata group is leading India's EV revolution and Tata Motors has remained at the forefront.

Also, the electric vehicle (EV) megatrend is a once in a century revolution happening right in front of us.

The revolution has taken the auto sector by storm. All segments of the sector are ripe for disruption, and India's top EV stocks are set to benefit from this shift.

Take a look at the chart below, which shows the massive opportunity in the two-wheeler EVs.

Dr Reddy's Laboratories' quarterly update

Pharma major Dr Reddy's Laboratories on Wednesday reported a 77% YoY growth in consolidated net profit at Rs 12.5 bn for December 2022 quarter.

The consolidated revenue also rose by 27% YoY to Rs 37.7 bn.

This growth in financial performance was due to growth in the US and the Russian markets.

EBITDA for the quarter stood at Rs 19.6 bn in December 2022 quarter, up 55% YoY, against Rs 12.6 bn in the quarter a year ago. EBITDA margin also expanded by 5.2% to 29%.

North America continued to be the largest contributor to the revenues with a 45% share, followed by emerging markets at 19%, India at 17%, PSAI at 11%, Europe at 6% and others at 1%.

For December 2022 quarter, the company incurred a capex of Rs 2.9 bn and generated a free cash flow of Rs 19.8 bn.

Sun Pharma and Dr Reddy's are competing with each other to grab the top spot, check out, Sun Pharma vs Dr Reddy's: which is better?

Adani Group to invest in petrochemicals

Asia's richest man Gautam Adani's group is eyeing petrochemical and mining projects in Azerbaijan as the ports-to-energy conglomerate looks to expand the business beyond Indian shores.

Gautam Adani met Azerbaijan President Ilham Aliyev in Davos last week.

The parties discussed Azerbaijan's attractiveness for foreign direct investments, the development of the country's economy, and the prospects for cooperation with the Adani Group in petrochemical, mining and metallurgical industries.

Adani, in recent years is on a rapid diversification spree, expanding an empire centered on ports and coal mining to include airports, data centers, cement, and green energy.

Note that Adani Enterprises FPO  opened today for subscription and will close on 31 January 2023.

It also has 5 upcoming IPOs in the pipeline.

Despite bright prospects, the recent allegations by Hindenburg has taken a toll on all Adani group stocks. On Wednesday, all Adani group stocks plunged and they continued the downtrend today and are down around 15-20%.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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