December Quarter Results, IPO Buzz, and Top Stocks in Action Today

Wed, 29 Jan Pre-Open

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On Tuesday, Indian share markets witnessed selling pressure during closing hours and ended lower.

The BSE Sensex closed lower by 188 points to end the day at 40,967. Bharti Airtel and Tata Steel were among the top losers.

While the broader NSE Nifty ended down by 59 points to end at 12,060.

Among BSE sectoral indices, telecom stocks fell the most, followed by metal stocks and automobile stocks.

Speaking of the Indian share markets, earnings and upcoming budget would play a critical role in shaping the investment trend.

In the below video, Tanushree Banerjee tells how you should react to the biggest economic event of the year - the Union Budget.

Watch Now...

Top Stocks in Action Today

Alembic Pharma share price will be in focus today as the company has received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Azithromycin Tablets USP, 600 mg. The approved ANDA is therapeutically equivalent to the reference listed drug product Zithromax Tablets of Pfizer, Inc.

Bajaj Auto share price will also be in focus today as the company has launched a BS-VI compliant range of its CT and Platina motorcycle models at a starting price of Rs 40,794.

Market participants will also track Quess Corp share price, Nilkamal share price, and Trident share price as the companies will announce their December quarter (Q3FY20) results later today.

Results Corner

United Spirits has reported a rise of 34.5% in its net profit at Rs 2.6 billion for the December 2019 quarter as compared to Rs 1.9 billion for the same quarter in the previous year.

DCM Shriram has reported fall of 22.5% in its net profit at Rs 1,743.5 million for the quarter under review as compared to Rs 2,249.1 million for the same quarter in the previous year.

However, total income of the company increased by 4.4% at Rs 22,294.9 million for Q3FY20 as compared Rs 21,352 million for the corresponding quarter previous year.

To know more, you can read DCM Shriram's Q3FY20 result analysis on our website.

InterGlobe Aviation (IndiGo) has posted a 168% rise in consolidated net profit at Rs 4.9 billion for the quarter ended December 31. The bottom line of the aviation player got a boost on the back of increasing load factor and higher operating income.

The carrier reported revenue from operations of Rs 99.3 billion for the quarter, marking an increase of 25.5% against a 19.3% increase in capacity compared to the same period last year. Total income grew to Rs 103.3 billion during Q3FY20 as against Rs 82.2 billion in Q3FY19.

To know more about the company and the results, you can read InterGlobe Aviation's latest result analysis on our website.

Maruti Suzuki has reported 5.1% year-on-year (YoY) rise in profit at Rs 15.6 billion for the December quarter compared with Rs 14.8 billion in the same quarter last year.

The company said that during the quarter, cost reduction efforts, lower operating expenses, lower commodity prices and reduction in corporate tax rate were partially offset by higher sales promotion expenses, higher depreciation and lower fair value gains on invested surplus.

Sales for the quarter rose 3.8% YoY to Rs 196.4 billion. The automaker sold a total of 4,37,361 vehicles during the quarter, up 2% YoY. Sales in the domestic market stood at 4,13,698 units, higher by 2% YoY.

From the IPO Space...

Burger King India, the national master franchisee of the American burger brand in India, has received a green signal from the markets regulator to float its initial public offering (IPO).

The regulator issued its final observations on Burger King India's IPO proposal on January 24.

The proposed IPO will involve private equity firm Everstone selling a quarter of its shares and the burger chain issuing fresh shares worth Rs 4 billion. The total IPO size is estimated at Rs 10 billion.

The company will use Rs 2.9 billion out of the fresh net proceeds to roll out new company-owned restaurants and part of the money for general corporate purposes.

The burger chain had filed its documents for the proposed IPO last November.

Burger King is the second-largest burger brand globally as measured by the total number of restaurants. It had a global network of over 18,000 restaurants in more than 100 countries and US territories at the end of June 30, 2019.

It would be interesting to see how this IPO sails through.

Speaking of IPOs, Ankit keeps a tab on all the IPOs at his premium newsletter Equitymaster Insider (requires subscription).

He's closely watching IPOs in 2020 and is going to pick all the profitable ones for his readers at Equitymaster Insider.

In one of his recent articles, he has explained why keeping a tab on the IPO market is vital to your overall investing goals. You can read it here: What I Learnt from IPOs in 2019 (requires subscription).

Global Stock Market Drivers

European markets rebounded early on Tuesday after the previous day's thumping, which saw investors worried about the economic fallout from the coronavirus outbreak in China huddle in safe-haven assets.

Japan's Nikkei closed 0.6% lower. Australian shares ended 1.3% down and South Korea's Kospi index skidded 3%.

Brent oil prices stabilized above US$ 59, safely above their three-month low of US$ 58.50 and 10-year US Treasury yields stabilized above 1.6% after briefly dipping below that level on Monday.

The United States and other countries warned against travel to China as the coronavirus death toll rose to more than 100 and after the virus was detected in more than a dozen countries outside China.

As per the economic schedule released by Vijay Bhambwani, editor of Weekly Cash Alerts, here are the important events due later today:

• India - M3 Money Supply
• Australia - CPI Q4
• USA - Crude Inventory

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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