Gift Nifty Up 90 Points | Tata Power & SJVN Q3 Results | DB Realty to Demerge Hospitality Business | Top Buzzing Stocks Today

Mon, 12 Feb Pre-Open

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On Friday, Indian share markets remained volatile as the session progressed and ended the day higher.

The equity benchmark indices were volatile in Friday's trade amid lacklustre cues from global peers.

At the closing bell on Friday, the BSE Sensex closed higher by 167 points (up 0.2%).

Meanwhile, the NSE Nifty closed higher by 67 points (up 0.3%).

SBI, Grasim Industries and Sun Pharma were among the top gainers.

M&M, UPL and NTPC on the other hand, were among the top losers.

Broader markets are trading on negative note. The BSE Mid Cap ended 0.8% lower and the BSE Small Cap index is trading 1.4% lower.

Sectoral indices are trading mixed, with socks in banking sector, FMCG sector and healthcare sector witnessing most buying. Meanwhile, stocks in oil & gas sector and metal sector witnessed selling pressure.

Gold prices for the latest contract on MCX were trading flat at Rs 62,448 per 10 grams at the time of Indian market closing hours on Friday.

At 7:40 AM today, the Gift Nifty was trading 90 points higher at 21,940 levels.

Indian share markets are headed for a positive today following the trend on Gift Nifty.

Speaking of stock markets, smallcaps were not the only outperformers of 2023.

Stocks from the defence, railways and electric vehicle sectors also found their place under the sun.

Stocks of the largest public sector entities in defence and railway sectors fetched handsome gains every time the government ordered more spending.

But there were also plenty of private sector entities in defence ecosystem that commanded premium valuations.

The EV sector became a stock market favourite in 2023.

Am sure you wonder, what after these big-ticket gains?

Will the stars of 2023 continue to shine in 2024? Or should you consider a different set of potential wealth creators?

Research Analyst, Tanushree Banerjee answers this in below video.

Top buzzing stocks today

Canara Bank share price will be in focus today.

Bank of Baroda and Canara Bank have plan to issue bonds worth Rs 45 bn, according to sources. Canara Bank will raise to Rs 20 bn via Additional Tier-I bonds, while Bank of Baroda to raise to Rs 25 bn through Tier-II bonds.

Canara Bank's bond issue has a base issue of Rs 5 bn and will retain an oversubscription of Rs 15 bn. Whereas, Bank of Baroda's bond issue have a base issue of Rs 10 bn and a greenshoe option of Rs 15 bn.

Emami will also be a top buzzing stock.

Consumer products major Emami on 9 February reported a net profit of Rs 2.6 bn for the December quarter of FY24, registering a growth of 11.8% from Rs 2.3 bn posted a year back.

Total revenue of the company stood at Rs 9.9 bn, up 1.4% from Rs 9.8 bn last year.

Tata Power Q3 Results

Tata Power, on 9 February, declared a consolidated net profit of Rs 10.8 bn for the third quarter of FY23-24, registering an on-year growth of 2% over the consolidated profit of Rs 10.5 bn last year.

The company said the net profit was on account of better realisation in the core business segments consisting of generation, transmission, distribution and renewables.

The consolidated revenue for the Tata Group company increased by 6.2% to Rs 152.9 bn compared to Rs 144 bn during the same period last year.

The company attributed its strong financial performance to its healthy balance sheet, operational excellence, and synergies across business clusters.

Its earnings before interest, taxes, depreciation, and amortisation (EBITDA) jumped 20% to Rs 30.6 bn from Rs 26.1 bn.

As of December 2023, the company's operational capacity was 4270 MW in the renewables segment, generating 6,031 MUs of green power.

Another 4752 MW of projects under TPREL and 4120 MW of projects under TPSSL are under execution, thus taking the total clean energy capacity to over 10,000 MW in the next 12-24 months.

Tata Power's core businesses of generation, transmission and distribution, and renewables contributed more than 71% of the PAT before exceptional items in Q3 FY24 vis a vis 39% in FY23.

With increasing demand for electricity, to know which power behemoth is better at grabbing the opportunity, check out Adani Power vs Tata Power: Which Power Stock is Better for 2024?

SJVN Q3 Profit Falls 51%

State-owned SJVN on Friday reported a 51.6% YoY drop in net profit at Rs 1.4 bn for Q3.

In the corresponding quarter last year, SJVN posted a net profit of Rs 2.9 bn. The company's revenue from operations declined 1.6% to Rs 5.4 bn against Rs 5.5 bn in the corresponding period of the preceding fiscal.

At the operating level, EBITDA declined 3.2% to Rs 3.7 bn in the third quarter of this fiscal over Rs 3.8 bn YoY.

The EBITDA margin stood at 67.8% in the reporting quarter against 69% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

SJVN said the board of directors has approved an interim dividend of Rs 1.15 per equity share for the financial year 2023-24.

After zooming 190% in 2023, shares of the company hit an all-time high in January 2024. To know what's driving the rally, check out Why SJVN Share Price is Rising.

For more details about the company's vision to diversify into renewable energy, check out This Company is Transforming into a Huge Solar Energy Giant. Take a Look...

DB Realty to Demerge Hospitality Business

DB Realty, on 9 February, said it would demerge its hospitality business as a separate unit. The announcement led to buying in the stock, which gained over 2%.

The demerged entity will consist hotel business and assets, including Goan Hotels & Realty Private Limited, a wholly owned subsidiary; BD and P Hotels (India) Private Limited, a subsidiary and Bamboo Hotel and Global Centre (Delhi) Private.

DB Realty said the demerger will unlock the value of the real estate and hospitality business for shareholders, enable a differentiated strategy to capture the huge potential of the Indian hospitality sector and attract a distinct set of investors, partners, collaborators and leadership talent focused on the hospitality business.

On completion of the demerger, the shares of the resulting company are proposed to be listed on the BSE and the National Stock Exchange. The shareholders will hold a substantial stake in the resulting company, with the balance being held by DB Realty.

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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