Sensex Trades Marginally Higher; Dow Futures Down by 42 Points

Fri, 12 Feb 12:30 pm

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Share markets in India are presently trading marginally higher.

The BSE Sensex is trading up by 155 points, up 0.3% at 51,687 levels.

Meanwhile, the NSE Nifty is trading up by 32 points.

Adani Ports and IndusInd Bank are among the top gainers today. ITC and Coal India are among the top losers today.

The BSE Mid Cap index is trading up by 0.2%.

The BSE Small Cap index is trading up by 0.5%.

On the sectoral front, stocks from the IT sector, are witnessing most of the buying interest.

On the other hand, stocks from the FMCG sector are witnessing most of the selling pressure.

US stock futures are trading lower today, indicating a negative opening for Wall Street.

Nasdaq Futures are trading down by 20 points (down 0.1%) while Dow Futures are trading down by 42 points (down 0.1%)

The rupee is trading at 72.79 against the US$.

Gold prices are trading down by 0.1% at Rs 47,450 per 10 grams.

Gold prices edged lower in Indian markets today, extending the sharp losses of the previous session. On MCX, gold futures eased 0.1% to Rs 47,474 per 10. In the previous session, gold had declined 1% while silver 0.33%.

Note that in India, gold prices are down about Rs 9,000 from its August highs of Rs 56,200.

In global markets, gold rates eased today, weighed down by a stronger US dollar and higher Treasury yields. Spot gold dipped 0.3%. The dollar and benchmark ten-year US Treasury yields ticked higher, reducing gold's appeal.

To know more about gold, check out our article on how to invest in gold here: How to Invest in Gold?

Speaking of the stock markets, India's #1 trader, Vijay Bhambwani talks about how you can become a professional trader, in one of his latest videos for Fast Profits Daily.

The video below, is his first video from a series of videos, in which he shares the basics on how you can become a successful professional trader.

Tune in to find out more:

Moving on to stock specific news...

Among the buzzing stocks today is Power Grid Corporation of India.

State-owned power transmission company Power Grid Corporation of India on February 11, 2021, reported a 26% year-on-year (YoY) growth in consolidated profit at Rs 33.6 billion for the quarter ended December on account of higher revenue and lower finance costs.

The company's revenue from operations for the quarter also increased by 8.3% to Rs 101.4 billion compared to Rs 93.6 billion in the corresponding period a year ago.

At the operating level, its earnings before interest, tax, depreciation and amortization (EBITDA) grew by 8.1% YoY to Rs 89.1 billion compared to the same period last year but EBITDA margins contracted to 87.9% in Q3FY21, from 88.1% in the corresponding period.

The company's transmission business, its main segment, recorded a 9.3% YoY growth in revenue at Rs 100.4 billion. Its earnings before interest and tax (EBIT) grew by 11.5% to Rs 64.2 billion in the same period.

On the other hand, the telecom segment registered a 4.5% YoY growth in revenue at Rs 2.1 billion, but consultancy segment showed a 14.8%YoY decline at Rs 1.2 billion.

We will keep you posted on more updates from this space. Stay tuned.

At the time of writing, Power Grid Corporation share price was trading down by 0.6% on the BSE.

Speaking of the power sector, it is interesting to note that the power exchanged in India is about

4.5% of the overall power production, as can be seen in the chart below:

As per Tanushree Banerjee, Co-Head of Research at Equitymaster, India's power sector is currently in transition. It is driven by increasing reliance on short-term contracts and electricity spot markets.

This transition to the short-term market is happening due to quickly evolving industry dynamics.

Tanushree believes the Indian power sector will see a surge in spot power volumes due to certain factors.

In August 2020, Tanushree recommended a high quality stock from this space. Subscribers can read the report here (requires subscription).

And if you are not a StockSelect subscriber, here's where you can sign up.

Moving on to news from the cement sector...

ACC Q3FY21 Results: Net Profits Jumps 73% To Rs 4.7 Billion

Cement maker ACC on February 12, 2021, reported a 72.8% year-on-year (YoY) increase in consolidated net profit to Rs 4.7 billion for the quarter ended December.

The company, which follows the January-December financial year cycle, had posted a profit of Rs 2.7 billion in the corresponding quarter a year ago.

The company's total revenue from operations during the quarter rose 2.1% YoY to Rs 41.4 billion, against Rs 40 billion in the year-ago period.

Its revenue from cement was up 4.6% YoY to Rs 38.7 billion against Rs 37 billion of the corresponding quarter while ready mix concrete was down 19.5% YoY to Rs 3.1 billion, against Rs 3.8 billion.

ACC's total expenses for the quarter stood at Rs 37.5 billion, up 1% YoY as against Rs 37.1 billion a year ago.

The company's board has recommended a dividend of Rs 14 per equity share of Rs 10 each (fully paid-up) for the year ended December 2020.

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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