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EQUITY - MARKET SCREENER

Broader market trades lower; breadth weak
25-Jan-21   13:30 Hrs IST

The equity barometers continued trading near flat line in afternoon trade. IT, media and auto were under pressure. At 13:20 IST, the barometer index, the S&P BSE Sensex, rose 9.12 points or 0.02% at 48,887.66. The Nifty 50 index gained 16.50 points or 0.11% at 14,388.40.

The broader market was trading lower. The S&P BSE Mid-Cap index fell 0.32%. The S&P BSE Small-Cap index slipped 0.50%.

Sellers outpaced buyers. On the BSE, 998 shares rose and 1,822 shares fell. A total of 179 shares were unchanged. In Nifty 50 index, 30 stocks advanced while 20 stocks declined.

The slow pace of the COVID-19 vaccine rollout coupled with sparring by the US lawmakers over President Joe Biden's proposed $1.9 trillion COVID-19 relief plan worried investors as they imposed significant risks to the global economic recovery from the pandemic.

The investor community hoped for a reassurance from the Fed Chair Jerome Powell after Wednesday's policy meeting that $120 billion of monthly bond purchases won't be tapered any time soon.

Foreign portfolio investors (FPIs) sold shares worth Rs 635.69 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,290.35 crore in the Indian equity market on 22 January 2021, provisional data showed.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 9,91,95,630 with 21,29,418 deaths. India reported 1,84,182 active cases of COVID-19 infection and 1,53,470 deaths while 1,03,30,084 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

Reports suggest Tata Group's healthcare venture is said to have started initial discussions with Moderna Inc for a partnership to launch its COVID-19 vaccine in India. Tata Medical & Diagnostics could team up with the India's Council of Scientific and Industrial Research to carry out clinical trials of Moderna's vaccine candidate in India.

India-China Stand-off:

The media reported that the Indian and the Chinese troops had brawled again on their contested border, leaving injuries on both sides. The incident happened last week at the Naku La pass in Sikkim state.

India and China on Sunday reportedly held the ninth round of senior commanders' talks in a fresh bid to resolve the military standoff at eastern Ladakh.

As per reports, India has insisted on setting in motion at the earliest the process of disengagement and de-escalation of troops by the two countries to restore peace and tranquility in border areas.

The last round of talks between the military commanders was held in November last year while senior diplomats of the two countries met on 18 December under the framework of the Working Mechanism for Coordination and Consultation (WMCC) in border areas.

Gainers & Losers:

Grasim Industries (up 8.84%), Cipla (up 5.87%), UPL (up 4.26%), Axis Bank (up 3.31%) and Sun Pharmaceutical Industries (up 2.80%) were major gainers in Nifty 50 index.

Reliance Industries (down 4.37%), Asian Paints (down 2.79%), Eicher Motors (down 2.64%), BPCL (down 1.64%) and Indian Oil Corporation (down 1.52%) were major losers in Nifty 50 index.

Nifty Results Today:

Larsen & Toubro (up 1.75%) and Kotak Mahindra Bank (up 1.44%) will announce its quarterly result today.

Earning Impact:

Polycab India dropped 4.78%. Its consolidated net profit jumped 19.1% to Rs 263.62 crore on 11.6% rise in net sales to Rs 2,798.83 crore in Q3 December 2020 over Q3 December 2019. Consolidated profit before tax (PBT) soared 22.1% to Rs 354.11 crore in Q3 December 2020 as against Rs 289.97 crore in Q3 December 2019. Total tax expense for the quarter increased 31.99% to Rs 90.49 crore as against Rs 68.56 crore in Q3 December 2019. As of 31 December 2020, net cash position doubled to Rs 1,333.50 crore while the Return on Capital Employed (ROCE) stood at 30.6% in Q3 FY21.

Supreme Industries gained 1.61% after the company's consolidated net profit surged 153% to Rs 312.28 crore on a 34.3% rise in net sales to Rs 1,843.80 crore in Q3 December 2020 over Q3 December 2019. The company's profit before tax stood at Rs 400.92 crore in Q3 December 2020, soaring 142.5% from Rs 165.3 crore in Q3 December 2019. Current tax expense climbed Rs 88.64 crore in Q3 December 2020 from Rs 41.90 crore in Q3 December 2019. Consolidated operating profit advanced 105% to Rs 455 crore in Q3 December 2020 from Rs 222 crore in Q3 December 2019.

Birla Corporation rose 0.43%. Its consolidated net profit soared 82.1% to Rs 148.42 crore on 3.6% rise in net sales to Rs 1,776.62 crore in Q3 December 2020 over Q3 December 2019. Consolidated profit before tax (PBT) surged 64.7% to Rs 212.23 crore in Q3 December 2020 as against Rs 128.86 crore in Q3 December 2019. Current tax expense for the quarter jumped 24.1% to Rs 30.71 crore as against Rs 24.74 crore in Q3 December 2019. Consolidated Q3 PAT improved on the back of a 3.2% growth in sales by volume, aggressive cost rationalization and higher sales of premium products. Consolidated EBITDA jumped 19.4% to Rs 375.94 crore in Q3 FY21 over Rs 314.94 crore in Q3 FY20. Cash profit spurted 39.5% to Rs 302.99 crore in Q3 December 2020 as against Rs 217.22 crore in Q3 December 2019.

Global Markets:

Most European stocks declined on Monday as investors around the world keep across developments on the coronavirus pandemic, and plans for U.S. stimulus measures.

Most Asian stocks advanced on Monday as investors continue to monitor the situation surrounding the coronavirus pandemic.

Amid the pandemic, China surpassed the U.S. as the world's largest recipient of foreign direct investment, according to a report released Sunday from the United Nations Conference on Trade and Development. China brought in $163 billion in inflows last year, compared to $134 billion attracted by the U.S., according to the report.

Developments around COVID-19 are likely to be watched by investors, as the world races to adapt against the mutating coronavirus which has produced a number of potentially more infectious variants.

In US, stocks finished mixed on Friday - the S&P 500 and Dow finished in the red while the Nasdaq Composite closed at a record high. The Dow and S&P 500 ended modestly lower on Friday, dragged down by losses in blue-chip technology stalwarts Intel and IBM following their quarterly results.

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