The Nasdaq and S&P 500 ended higher on Thursday and touched roughly five-month highs as a more dovish-than-expected message from Federal Reserve Chair Jerome Powell boosted equities and Meta Platforms shares soared on rigorous cost controls.
Stocks in the Asia-Pacific were mixed on Friday after Wall Street’s rally driven by technology stocks. Meta surged 23%, marking its best day since 2013 after seeing a better-than-expected earnings report.
Stocks in news
Results on February 3: State Bank of India, Divis Labs, Bank of Baroda, Tata Power, InterGlobe Aviation, One 97 Communications (Paytm), Marico, Mahindra & Mahindra Financial Services, Zydus Lifesciences, Manappuram Finance, Aarti Industries, Borosil, Clariant Chemicals, Elgi Equipments, Emami, Engineers India, India Cements, Intellect Design Arena, JK Tyre & Industries, Jubilant Pharmova, Kansai Nerolac Paints, Nava, Praj Industries, Quess Corp, Shipping Corporation of India, Sun TV Network, and Tube Investments of India would be in focus ahead of quarterly earnings on February 3.
Adani Enterprises: After inclusion of three Adani group stocks — Adani Enterprises, Adani Ports and Special Economic Zone and Ambuja Cements in ASM (additional surveillance measure) list for short term, Adani Enterprises shares are now facing removal from the Dow Jones Sustainability Indices, effective prior to open on Tuesday, 7th February 2023. The information has been made in index announcement by the US markets. Adani group stocks have been under huge selling pressure after US-based short seller Hindenburg Research raised concern over the debut positioning of Adani group companies.
Ambuja Cements: The National Stock Exchange has placed three Adani group companies, including Adani Enterprises, Adani Ports and Special Economic Zone and Ambuja Cements, under short-term additional surveillance measure (ASM) framework, effective Friday (3 February, 2023).
Hindustan Zinc: The government is likely to sell a part of its remaining stake in Hindustan Zinc Ltd by next month said DIPAM Secretary Tuhin Kanta Pandey.
Life Insurance Corporation: The government does not plan to sell additional shares of state-run Life Insurance Corp. of India to the public in FY24 due to unfavourable market conditions and weak retail demand.
ITC: The cigarette-hotel-to-FMCG major is going to announce its December FY24 quarter earnings on February 3. The stock has hit a record high of Rs 385 on February 2, continuing uptrend for third straight session.
NMDC: The state-owned iron ore company has fixed lump ore price (65.5%, 6-40mm) at Rs 4,400 per tonne, and fines price (64%, -10mm) at Rs 3,910 per tonne.
Dabur: India reported a 5% year-on-year (YoY) fall in consolidated net profit for the December quarter to Rs 476 crore. Revenue from operations grew by a moderate 3.4% to Rs 3,043 crore.
Shares of Vaibhav Global, which have given multibagger returns to investors in the last five years, will trade ex-dividend on Friday.
Karnataka Bank’s net profit more than doubled during the December quarter at Rs 300 crore, compared with Rs 146 crore in the same quarter last year.
Berger Paints India: The paint company has recorded a 20.5% year-on-year decline in consolidated profit at Rs 200.94 crore for quarter ended December FY23 impacted by weak operating margin performance
Results on February 4: MCX India, Affle (India), Apex Frozen Foods, Atul Auto, Birla Corporation, Dalmia Bharat, Finolex Industries, India Pesticides, Relaxo Footwears, Rossari Biotech, Skipper, and Voltamp Transformers will be in focus ahead of December FY23 quarter earnings on February 4.
Apollo Tyres: Apollo Tyres on Thursday said its consolidated net profit increased 30% to Rs 292 crore for the December quarter, aided by robust sales in the domestic market. The company had reported a net profit of Rs 224 crore in the year-ago period.
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