SGX Nifty Trades Flat | Nykaa Q3 Results | Centre on Adani Expert Panel | Top Buzzing Stocks Today

Tue, 14 Feb Pre-Open

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On Monday, Indian share markets witnessed negative trading activity as the session progressed and ended lower.

Benchmark indices fell ahead of domestic retail inflation data due later in the day while the ongoing uncertainty and spillover effects from the Adani group's rout continued to create an overhang.

At the closing bell on Monday, the BSE Sensex stood lower by 251 points (down 0.4%).

Meanwhile, the NSE Nifty lower by 85 points (down 0.5%).

Titan, L&T, and NTPC were among the top gainers.

Adani Enterprises, Adani Ports, and SBI on the other hand, were among the top losers.

Broader markets settled on a negative note. The BSE Midcap ended 1.3% lower while the BSE SmallCap index ended 1.2% lower.

Sectoral indices ended on a mixed note with stocks in the industrial sector and capital goods sector witnessing buying.

While stocks in the IT sector, realty sector, and power sector witnessed selling.

Shares of Jindal Saw, Cera Sanitary, and APL Apollo Tubes hit their 52-week high on Monday.

To get the latest news and which stocks will move the market, check out the stocks to watch today section on our website.

The rupee was trading at 82.74 against the US$.

Gold prices for the latest contract on MCX trading flat at Rs 56,700 per 10 grams at the time of Indian market closing hours on Monday.

At 7:30 AM today, the SGX Nifty was trading up by 24 points or 0.1% higher at 17,810 levels.

Indian share markets are headed for a flat opening today following the trend on SGX Nifty.

Speaking of stock markets, Brijesh Bhatia talks about a trading technique that can boost your gains in his latest video.

In the video below, he shows a technique that is effective for making higher gains from trading stocks called pyramiding.

Also, to understand what our readers are thinking about the India's growth story, we recently conducted a poll on our telegram channel and here are the results:

With over 1,000 responses from the participants, most of the readers think that the India's rise is unstoppable.

Top Buzzing Stocks Today

Natco Pharma will be among the top buzzing stocks today.

The company on Monday filed a generic version of an oncology drug in the US markets.

The drug major filed an abbreviated new drug application (ANDA) for generic versions of Olaparib tablets - 100 mg and 150 mg with the US Food and Drug Administration (USFDA).

Hindalco will also be in focus today.

JSW Steel, on Monday, reported a 15% YoY rise in crude steel production at 1.8 m tons in January.

The company's crude steel production was at 1.6 m tons in January 2022. This is the highest-ever crude steel production for the month reported by the company.

Adani row: Centre agrees to set up an expert panel

As the Adani-Hindenburg controversy rages on, the Centre, on Monday, agreed to set up a Supreme Court committee for strengthening regulations.

The SC was hearing pleas relating to the Adani stocks rout after the Hindenburg report.

The SC has asked the Centre to come on Friday and apprise it about the remit of the committee.

The government also told the apex court that SEBI and other bodies are equipped to deal with the situation.

Adani group stocks have taken a beating on the bourses after Hindenburg Research made a litany of allegations, including fraudulent transactions and share-price manipulation, against the business conglomerate.

The Adani Group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.

Nykaa Q3 profit declines 71%

Nykaa, on Monday, reported a consolidated net profit of Rs 850 million (m) for the December 2022 quarter against Rs 290 m a year ago, declining 71% YoY. It grew 63% sequentially.

Revenue from operations came in at Rs 14.6 bn, up 33% YoY from Rs 10.9 bn in the December 2021 quarter.

Expenses for the quarter increased 36% YoY to Rs 14.5 bn in the quarter compared to Rs 10.7 bn reported in the corresponding quarter a year ago.

EBITDA stood at Rs 780 m, up 13% year-on-year (YoY) basis, while the EBITDA margin came in at 5.3%.

The gross profit for the December 2022 quarter grew 25% YoY to Rs 6.4 bn.

Total GMV (gross merchandise value) grew 37% YoY to Rs 27.9 bn.

The monthly average unique visitors increased to 24 m, with a YoY growth of 22% in the beauty and personal care vertical and 19 m, with a YoY growth of 18% in the Fashion vertical.

Annual unique transacting customers reached 9.6 m with YoY growth of 27% in the beauty and personal care vertical and 2.4 million with 50% YoY growth in the Fashion vertical.

Nykaa share price witnessed a steep correction in 2022, to know why, check out the entire editorial here: Why Nykaa Share Price is Falling.

Also, for what to do with the stock of Nykaa if you are a shareholder or looking to invest in it, check out our editorial: Zomato, Paytm, and Nykaa: Buy, Avoid, Hold, or Sell?

Crude oil prices dive

Crude oil prices started the week with a loss as traders await the latest inflation reading from the United States and the market prices in Russia's stated plans to reduce oil production by half a million barrels.

The Bureau of Labor Statistics is releasing its consumer price index report for January on 14 February 2023, but a revision of December figures released last Friday showed that CPI for the last month of 2022 increased instead of decreasing as initially reported by the BLS.

Oil prices eased on Monday after rising 2% in the previous session as investors shrugged off the impact of Russian output cuts instead focusing on short-term demand concerns stemming from refinery maintenance in Asia and the United States.

Brent crude futures fell 0.8% to US$ 85.7 a barrel after a 2.2% gain on Friday. US West Texas Intermediate crude was at US $79 a barrel, down 0.9%, after rising 2.1% in the previous session.

China's oil demand recovery is curbing its gasoline exports in February although its refiners are maintaining diesel shipments at above 2 m tons.

Oil prices may resume their rally back to $100 a barrel later this year on China's demand recovery and limited supply growth due to a lack of investment.

Since oil price movements interest you, explore stocks benefitting from falling crude oil prices.

To know what's moving the Indian stock markets, 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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