February 3, 2022:

Indian benchmark indices Sensex and Nifty50 bled red. 

• BSE Sensex ended 770.31 points or 1.12% lower at 58,788.02.

• The NSE Nifty slipped 219 points or 1.24% to close at 17,560.20.

Except for auto and consumer durable indices, all other indices ended in the red terrain with oil & gas, financial services, IT, realty indices shedding between 1-2 percent. 

BSE midcap index plummeted 0.9 percent, while smallcap index tumbled 0.38 percent.

Asian Markets:

Japan’s Nikkei 225 closed 455 points or 1.06% lower at 27,241.31.

Australia’s ASX 200 plummeted 0.7% to 7,087.

KOSPI, the major stock market index of South Korea, closed 44.48 points or 1.67% higher at 2,707.82.

Hong Kong’s Hang Seng index rose 1.07% to close at 23,802.26.

China’s SZSE Component Index and the Shanghai Composite were closed on account of the Chinese New Year.

Top Trending Stocks On Quantale Dashboard:

News Wrap:

GAIL India Q3 Net profit Rises 33% YoY; Revenue Jumps 20%

GAIL India saw a 33% year-on-year (YoY) jump in net profit at Rs 3,288 crore in the quarter ended 31 December 2021, as against 2,863 crore posted in a year-ago period. 

The company's revenue also increased 20% YoY Rs 25,775 crore.

Segment-wise, the petrochemical segment reported sales at Rs 2,400.5 crore, up 24% YoY. 

The LPG segment reported sales of Rs 1,533 crore versus Rs 878 crore a year ago.

The natural gas marketing segment led the growth in sales, rising 85.6 percent YoY to Rs 22,092 crore in Q3FY22.

Gail India’s EBITDA for Q3FY22 stood at Rs 4,228.2 crore, beating the Street’s estimate of Rs 21,511 crore. The EBITDA margin stood at 16.4 percent ahead of analysts’ estimate of 15 percent.

Titan Q3 Net Profit Surges More Than Double To Rs 987 Cr

Titan Company Ltd standalone net profit increased more than double to Rs 987 crore in the quarter ended December 31, 2021. 

Titan's revenue rose 30.6% YoY to Rs 9,515 crore in Q3FY22. 

The company's earnings before interest, tax, depreciation and amortization (EBITDA) rose 62.9% to Rs 1,398 crore 

Titan’s EBITDA margin stood at 14.7 percent in Q3FY22, against 11.8 percent in Q3FY21.

"Driven by festive purchases in October and November, the jewellery business registered an income of Rs 8,563 crore with 37 per cent growth in Q3 FY22 compared to Rs 6,249 crore in Q3 FY21 (excluding bullion sale in both the periods)," Titan said in a release.

Adani Transmission Net Profit Slumps 40% In Q3

Adani Transmission consolidated net profit decreased 40% year-on-year (YoY) to Rs 277 crore in the quarter ended December 2021 compared with Rs 464 crore posted in a year-ago period. 

Its total income in Q3FY22 increased to Rs 3,085.20 crore, from Rs 2,734.04 crore in Q2FY21.

“In Q3FY22, the consolidated PAT (profit after tax) decline of Rs 187 crore, (-)40.3%y-o-y decline.”

"Q3FY22 PAT (October-December 2021) not comparable YoY on account of Rs 62 crore reversal of earlier interim power purchase bill, one-time deferred tax assets creation of Rs 129 crore and forex MTM gain of Rs 40 cr in Q3FY21 (October-December 2020) in (electricity) distribution business," the company said in a statement.

Godrej Properties Q3 Consolidated Net Profit Increases Over 171.42%

Godrej Properties Ltd (GPL) saw a 171.42% year-over-year (YoY) rise in its consolidated net profit to Rs 38.95 crore in the third quarter of fiscal 2022. It stood at Rs 14.35 crore in the third quarter of the previous fiscal. 

Revenue from operations stood at Rs 278.76 crore, up 63% from Rs 170.49 crore a year ago. 

Ebitda rose 42% YoY to Rs 115 crore. 

Net debt at the end of Q3FY22 stood at Rs 313 crore.

The total operating cash flow of Adani Transmission in Q3FY22 stood at Rs 1879 crore.

Aditya Birla Capital Records Highest-Ever Quarterly Profit

Aditya Birla Capital Ltd (ABCL), in its Q3FY22 financial results, reported its highest-ever quarterly profit at Rs 577 crore.

The net profit stood at Rs 289 crore in Q3FY21.

Consolidated revenue rose 13% year-on-year to Rs 6,054 crore in Q3 FY22, as against Rs 5,352 crore in Q3FY21.

Overall AUM across asset management, life insurance and health insurance businesses rose 16% YoY to over ₹3,72,423 crore in Q3.

The overall lending book (NBFC and housing finance) increased 7% YoY to ₹61,411 crore. 

The gross premium across life and health insurance for the first three quarters increased 24% YoY to ₹9,236 crore.

ITC Q3 PAT Rises Over 12% ; Revenue Surges Over 32.5% YoY

 ITC Ltd, India’s largest cigarette manufacturer and consumer goods company, reported a standalone profit after tax (PAT) of Rs 4,156.20 crore in Q3FY22, up by 12.7 percent against Rs 3,687.88 crore reported in Q3FY21.

The company's standalone revenue, excluding excise duty, rose 32.5 percent to Rs 15,862.32 crore in Q3FY22 from Rs 11,969 crore in Q3FY21.

Mahindra Holidays & Resorts India Sales Jumps Over 13% In Q3

Mahindra Holidays & Resorts India reported a 7970.59% increase in its net profit to Rs 13.72 crore in December ended quarter versus Rs 0.17 crore a year ago.

Sales increased 13.14% to Rs 553.44 crore in Q3FY22 as against Rs 489.15 crore in Q3FY21.

Big News: 

Zomato Founder Sells His Blinkit Stake To American Investment Firm Tiger Global

Zomato founder and chief executive Deepinder Goyal has disposed of his personal stake in online grocery delivery firm Blinkit (former Grofers) to New York-based investment firm Tiger Global.

Zomato, however, continues to be a shareholder in Blinkit. 

Deal Street Asia reported the story first, quoting Tiger Global's filing with Singapore's Accounting and Corporate Regulatory Authority.

Emami Founders Step Down From Executive Positions; Sons Take The Charge

Founders of Consumer Goods company Emami--- R S Agarwal and R S Goenka have stepped down from their current executive positions. 

Agarwal was chairman, while Goenka was a director on the company’s board.

The company announced that R.S. Goenka would hold the position of Non-Executive Chairman, while Mr R S Agarwal will become Chairman Emeritus w.e.f April 2022. The founders will get any compensation for their new roles.

The company’s board has chosen Mohan Goenka as vice chairman-cum-whole time director and Harsha V Agarwal as vice chairman-cum-managing director to steer the organization forward, subject to shareholders’ approval.

Mohan Goenka is the eldest son of R S Goenka, while Harsha Agarwal is the younger son of R S Agarwal.

More To Know:

• Apple Inc.’s iPhone sales in India increased to 2.3 million units in the fourth quarter, up 34% from a year ago, as per the data of market research firm Counterpoint. China’s Xiaomi Corp. sold 9.3 million units, while South Korea’s Samsung Electronics Co. sold 7.2 million smartphones in Q4CY21. 

• State-run Life Insurance Corporation of India's (LIC) embedded value has been set at over 5 trillion rupees ($66.82 billion), said a government official.

• The unemployment rate in India declined to 6.57 per cent in January, the lowest in 9 months, according to CMIE. Urban unemployment stood at 8.16 per cent, while rural unemployment was 5.84%. 

• Indian pharmaceutical giant Dr Reddy’s Laboratories has agreed to acquire German medical cannabis firm Nimbus Health GmbH for an undisclosed consideration.

• Sony Music Entertainment and Sony Pictures Entertainment have joined hands to launch a talent management firm- Sony Entertainment Talent Ventures India (SETVI) in India. 

  SETVI will provide actors, musicians, sportspersons, gamers and content creators opportunities for co-ventures, metaverse solutions, brand partnerships and management.