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CAPITALSTARS PRESENT WEDNESDAY CURRENT MARKET NEWS : 20 JANUARY 2021

20 jan (4)

Barometers trade in range; India VIX down 4%.

The benchmark indices were hovering in a narrow range near the day’s high in early afternoon trade. The barometer index, the S&P BSE Sensex, soared 261.28 points or 0.53% at 49,659.57. The Nifty 50 index jumped 84.95 points or 0.59% at 14,606.10.

In the broader market, the S&P BSE Mid-Cap index rose 0.89% while the S&P BSE Small-Cap index gained 0.83%.

The market breadth was positive. On the BSE, 1,602 shares rose and 1,132 shares fell. A total of 153 shares were unchanged.

Global shares were buoyant ahead of Joe Biden’s inauguration as US president. Washington gets set to try for another massive round of stimulus for the economy.

Derivatives:

The NSE’s India VIX, a gauge of market’s expectation of volatility over the near term, fell 3.81% to 22.0250. The Nifty 28 January 2021 futures were trading at 14,616.25, at a premium of 10.15 point compared with the spot at 14,606.10.

The Nifty option chain for 28 January 2021 expiry showed maximum Call OI of 31.90 lakh contracts at the 15,000 strike price. Maximum Put OI of 28.40 lakh contracts was seen at 14,000 strike price.

Buzzing Index:

The Nifty Auto index gained 1.58% to 10,297.05. The index advanced 3.37% in the past two days.

Tata Motors (up 6.10%), Bharat Forge (up 3.70%), Balkrishna Industries (up 3.40%), MRF (up 2.86%) and Ashok Leyland (up 2.53%) advanced.

Stocks in Spotlight:

Larsen & Toubro Infotech (LTI) gained 1.33% after the company’s consolidated net profit increased by 13.7% to Rs 519.30 crore in Q3 FY21 from Rs 456.80 crore in Q2 FY21. Revenue during the quarter rose by 5.1% to Rs 3,152.80 crore in Q3 December 2020 from Rs 2,998.40 crore in Q2 September 2020. In dollar terms, the company’s increased 5.8% on a quarter-on-quarter (Q-o-Q) basis to $427.80 million. Sequential constant currency revenue growth was 5.3% in the quarter ended December 2020.

EBIT rose 9.1% to Rs 650.20 crore in Q3 December 2020 from Rs 595.70 crore in Q2 September 2020. EBIT margin was at 20.6% as on 31 December 2020 as against 19.9% as on 30 September 2020. Profit before tax in Q3 FY21 stood at Rs 699.40 crore, up by 14.1% from Rs 613.10 crore in Q2 FY21. Current tax expense rose 6.1% Q-o-Q to Rs 162.90 crore in the third quarter.

TV18 Broadcast rose 0.47%. TV18 Broadcast’s consolidated net profit surged 83.9% to Rs 377.20 crore on 4.5% decrease in net sales to Rs 1,360.95 crore in Q3 December 2020 over Q3 December 2019. Profit received a boost from improved performance, lower finance costs & tax reversals. Consolidated profit before tax (PBT) jumped 21.6% to Rs 293.66 crore in Q3 December 2020 as against Rs 241.47 crore in Q3 December 2019. Tax rebate for the quarter stood at Rs 102.41 crore as against a tax expenditure of Rs 36.31 crore in Q3 December 2019.

Consolidated operating EBITDA grew 14% to Rs 321 crore in Q3 December 2020 over Rs 281 crore in Q3 December 2019. Operating EBITDA margin improved to 23.6% in Q3 FY21 as against 19.7% in Q3 FY20.



Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

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