Stock Market LIVE Updates: Sensex, Nifty in green amid volatility; NTPC, PowerGrid, SBI top gainers

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13:20:41 IST

Bank of Maha Q3 Biz Update

Deposits up 2.8% QoQ & up 15.2% YoY; loan growth at 12% QoQ & 23% YoY.

13:07:59 IST

Delhi imposes weekend curfew as COVID-19 cases surge, private offices to work at 50% capacity: Sources

Amid a spike in COVID-19 cases in the national capital, the Delhi Disaster Management Authority (DDMA) has imposed a weekend curfew, sources told CNBC-TV18. The Aam Aadmi Party government has pushed for ‘work from home’ barring essential services with effect from midnight, they said.

Private offices can work at 50 percent capacity, they added. The decision was taken during a meeting of the DDMA on Tuesday. (Read more on Delhi weekend curfew)

12:56:04 IST

Bank of Maharashtra sees robust loan growth in Q3

Here are some highlights: 

Particular Value YoY change (%) QoQ change (%)
Deposit Rs 1,86,614 crore 15.2 2.8
Advance Rs 1,29,052 crore 23 12
CASA Rs 1,02,731 crore 24.6 53.9

The lender’s CASA ratio stood at 55.05 percent in the third quarter of FY22, as against 53.91 percent in the previous quarter, and 50.91 percent in the quarter ended December 2020.

12:46:40 IST

Business Update | HDFC Bank, Federal Bank loan growth at around 5% sequentially in Q3

 

Here are some highlights: 

 

Outperformance or gained market share (QoQ)

 

–HDFC Bank (highest growth amongst lenders that have shared Nos.) 
–Federal Bank 
–CSB Bank
–Karur Vysya Bank

 

Below industry level loan growth (QoQ)

 

–YES Bank
–Karnataka Bank
–IDFC First Bank

 

Loan growth (QoQ)

 

–HDFC Bank: 5.13%
–Federal Bank 4.6%
–CSB Bank 3.77%
–Karur Vysya Bank 3.61%
–YES Bank 2.07%
–Karnataka Bank 1.96%
–IDFC First Bank 1.9%

12:34:01 IST

7 banks share business updates for Q3; industry level loan growth at 7.25% 

 

At the industry level, loan growth has been at 7.25 percent on a year-on-year basis and 3.26% on a quarter-on-quarter basis. 

 

Here are some highlights: 

 

Outperformance or gained market share (on a YoY basis):

 

–HDFC Bank (highest growth amongst lenders that have shared Nos.) 
–Federal Bank 
–CSB Bank
–IDFC First bank

 

Below industry level loan growth (YoY)

 

–Karur Vysya Bank
–Karnataka Bank
–YES Bank

 

Loan growth (YoY)

 

–HDFC Bank: 16.42%
–Federal Bank: 12.06%
–CSB Bank: 11.55%
–IDFC First Bank: 10.48%
–Karur Vysya Bank: 7.06%
–Karnataka Bank: 6.27%
–YES Bank: 3.95%

12:29:58 IST

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HDFC Q3 loans assigned up 5.5% 

12:08:40 IST

Tata Communications in strategic agreement with Zain KSA

Tata Communications has entered a strategic agreement with Zain KSA for digital solutions in Saudi Arabia.

The Tata Communications stock was down 0.9 percent at Rs 1,433.7 apiece on BSE at noon. 

11:58:28 IST

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What semi-fungible tokens are, and how they differ from NFTs

A semi-fungible token (SFT) can change its state from fungible, like a Bitcoin, to non-fungible, like any NFT.

SFTs start as a fungible token, and transform into a non-fungible one. (Learn more about semi-fungible and non-fungible tokens)

11:56:00 IST

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Bond Market Action | HPCL, Godrej Industries, ICICI Securities in focus today

–HPCL will raise funds through a three-month commercial paper at a 3.63 percent coupon.

–Godrej Industries will raise funds through a three-month commercial paper at a 4.02 percent coupon.

–ICICI Securities will raise funds through a three-month commercial paper at a 4.35 percent coupon. (Catch other key bond deals today)

11:53:51 IST

Buy Axis Bank, ICICI Bank: Mitessh Thakkar

Here are two trading calls from Mitessh Thakkar of earningwaves.com:

–Buy Axis Bank for a target price of Rs 720 with a stop loss at Rs 697 

–Buy ICICI Bank for a target of Rs 790 with a stop loss at Rs 765 

Thakkar said the realty space is still recovering from a decline. “We haven’t got signals of a new uptrend starting over here. We are getting a good pullback. DLF is one of the stocks that are outperforming. An important observation here is that yesterday, we got a low of Rs 390.5 and today, we got a low of Rs 391, and that’s where the intraday averages are placed. As long as it is above Rs 390, expect this bounce back to continue to about levels of Rs 418-420 on the upside,” he added.

11:47:52 IST

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India’s trade deficit widens; highest-ever exports, imports in December 

India exported goods worth $37.29 billion in December 2021 — the highest-ever in a month, up 37 percent on a year-on-year basis. The country’s imported goods also touched a historic high, as they rose 38 percent to $59.27 billion. The country’s trade deficit widened to $22 billion in December from $22.9 billion in hte previous month.

The rise in exports was led by petroleum products, gems and jewellery, and engineering goods. Imports were led by crude oil, gold and electronic goods. (Read more on trade numbers)

11:39:26 IST

Near-term uncertainties developing due to Omicron: Wells Fargo

In the near term, some uncertainties are developing due to the Omicron variant of COVID-19, according to Gary Schlossberg, Global Strategist at Wells Fargo Investment Institute. He also said the Omicron will have a bigger impact on inflation versus economic growth.

“We are already seeing some disruption in the United States and to a lesser or greater extent overseas,” he told CNBC-TV18. (Read more)

11:37:47 IST

Business Update | IDFC First Bank Q3 customer deposits up 10.5% 

In a business update, IDFC First Bank said its customer deposits increased 1.8 percent sequentially and 10.5 percent annually in Q3.

The lender’s gross funded assets rose 4.3 percent on a quarter-on-quarter basis and 10.7 percent on a year-on-year basis.

The CASA ratio was at 51.9 percent as of December 31, as against 51.3 percent as of September 2021.

11:20:44 IST

Tata Motors, Tata Motors DVR down around 2%

Tata Motors shares were down 1.6 percent at Rs 489.7 apiece on BSE. The Tata Motors DVR stock was down 2.3 percent at Rs 245.6 apiece. 

CLSA downgraded Tata Motors to ‘sell’ from ‘buy’, and lowered its target price on the stock to Rs 408 from Rs 450. 

11:09:09 IST

L&T wins contract worth at least Rs 1,000 crore from DMRC    

L&T said its heavy civil infrastructure business had won a significant order from Delhi Metro Rail Corporation (DMRC) for the design and construction of the underground Metro project of Phase 1 of Patna MRTS. L&T classifies orders worth Rs 1,000 crore-2,500 crore as significant. 

L&T shares were up 0.4 percent at Rs 1,929.3 apiece on BSE.

11:00:23 IST

Long-term prospects remain strong for FMCG space: Dipan Mehta

Dipan Mehta, Director at Elixir Equities, believes the worst is over for the FMCG industry. He said FMCG could be a good contrarian play at current levels.

“While there is short-term disappointment, the medium- to long-term prospects remain strong for the sector and maybe at these corrections, if you want to play a slightly defensive strategy, FMCG certainly fits that criteria,” he said. 

10:58:40 IST

Buy ITC, Axis Bank, Maruti, Balrampur Chini: Rahul Mohindar 

Here are four trading calls from Rahul Mohindar of viratechindia.com:

–Buy Balrampur Chini Mills for a target price of Rs 415 with a stop loss at Rs 379 

–Buy Maruti Suzuki for a target of Rs 7,750 with a stop loss at Rs 7,500 

–Buy Axis Bank for a target of Rs 733 with a stop loss at Rs 695 

–Buy ITC for a target of Rs 228 with a stop loss at Rs 216 

10:50:45 IST

HDFC Bank is back on loan growth front

HDFC Bank’s loan growth is best in six quarters on a year-on-year basis, and seven quarters on a quarter-on-quarter basis. 

Here are some highlights: 

–Advances up 16.4 percent YoY, 5.1 percent QoQ

–Deposits up 13.8 percent YoY, 2.8 percent QoQ (current deposit ratio improves to 87.14 percent from 85.15 percent in previous year and 85.24 percent in previous quarter)

–CASA up 24.6 percent YoY, 3.5 percent QoQ

–CASA ratio at 47 percent vs 43 percent in year-ago period, 46.8 percent in previous quarter 

10:45:32 IST

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ICICI Bank, Reliance Industries, SBI, Kotak Mahindra Bank top Sensex movers

On the other hand, selling pressure in Infosys, HCL Technologies, UltraTech and Sun Pharma limited the upside in the 30-scrip index.

10:43:02 IST

Rate hikes unlikely to hinder rally in equities: White Oak Capital CEO

Equity markets are unlikely to face any challenge due to rate hikes, according to Aashish Somaiyaa, Chief Executive Officer of White Oak Capital Management. “While the timing is hard to predict, it is probably likely within the next 6 months or thereabouts and I do not see any challenges to equity markets due to rate hikes,” he said in an interview to CNBCTV18.com.

Somaiyaa is of the view that a correction may happen for any reason whatsoever. (Read more)

10:28:21 IST

New-age businesses to define future, should wait for a weak phase to buy: Nilesh Shah

Nilesh Shah of Envision Capital is positive on new-age businesses. They will “define the future for us”, he said in an interview to CNBC-TV18.

One should wait for a weak phase to buy into new-age stocks, Shah added. 

10:22:05 IST

Omicron poses a dampener, not a business momentum risk: Nilesh Shah

Nilesh Shah of Envision Capital told CNBC-TV18 the Omicron variant of COVID-19 poses a dampener  but not a risk to business momentum. He doesn’t expect lockdowns or the COVID wave to extend beyond a month. 

10:19:33 IST

Business Update | Kitex Garments Q3 revenue up 69% at Rs 205 crore

10:12:18 IST

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Rupee opens lower at 74.51 against US dollar

The rupee began the day at 74.51 against the greenback. It had settled at 74.26 on Monday. 

10:10:50 IST

Nifty50 headed towards resistance patch of 17,800-17,850 levels: Manish Hathiramani

Manish Hathiramani, Proprietary Index Trader and Technical Analyst at Deen Dayal Investments, said the Nifty50 has crossed an intermediate high of 17,639, which should allow it to ove towards the resistance patch of 17,800-17,850 levels. “Traders can consider booking profits on their long positions when the Nifty hits the 17,800-17,850 zone. The market has good support at 17,200 and intraday dips can be utilised to accumulate long positions,” he said. 

10:04:41 IST

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BTC continues to consolidate around $46,000-$47,000 levels: WazirX’s trade desk

With the 13th anniversary of Bitcoin, the price of the cryptocurrency continued to consolidate around the $46,000-$47,000 levels, WazirX’s trade desk said in a note. 

“The BTC is treading within a triangle pattern on the hourly chart. Meanwhile, one of Italy’s top private banks, Banca Genrali will allow its customers to buy Bitcoin, perhaps marking another step towards global crypto adoption,” it said. 

10:01:40 IST

Stock Tips | HDFC Bank, AB Capital, USL among Sudarshan Sukhani, Mitessh Thakkar’s top picks

–Mitessh Thakkar of mitesshthakkar.com recommends buying HDFC Bank shares for a target price of Rs 1,560 with a stop loss at Rs 1,500.

–Sudarshan Sukhani of s2analytics.com suggests buying United Spirits shares with a stop loss at Rs 860. (Check out their other stock recommendations today)

09:53:40 IST

JSPL steel sales up 27% in December

JSPL’s steel sales increased 27 percent sequentially to 6.85 lakh tonnes in December. 

Its steel production for 2021 stood at eight million tonnes. Steel production in Q3 came in at 1.96 million tonnes, and sales at 1.82 million tonnes. 

JSPL shares were up 1.1 percent at Rs 389.5 apiece on BSE in the morning.

09:31:06 IST

Banking pack rises; HDFC Bank Q3 loan growth up 16.4% 

The Nifty Bank was up a quarter percent in the first few minutes of the session. All 12 constituents of the index were in the green. HDFC Bank was up 0.2 percent, Axis Bank 1.2 percent, and SBI, ICICI Bank, Kotak Mahindra Bank and IDFC First Bank each 0.6 percent. IndusInd Bank was up 0.3 percent. 

Business updates

–Yes Bank’s loan growth in Q3 came in at 2.1 percent on a quarter-on-quarter basis and 3.9 percent on a year-on-year basis. Its deposits increased 4.3 percent sequentially and 26 percent annually. 

–HDFC Bank’s loan growth in Q3 stood at 5.1 percent sequentially and 16.4 percent annually. The lender’s deposits increased 2.8 percent QoQ and 13.8 percent YoY. Retail deposits rose four percent sequentially and 17 percent annually. Its wholesale deposits, however, were down 1.5 percent on a quarter-on-quarter basis though up one percent on a year-on-year basis. HDFC Bank’s CASA ratio stood at 47 percent as of December 2021, as against 46.8 percent as of September 2021.

09:24:53 IST

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NTPC, ONGC, Power Grid, M&M, Adani Ports among top blue-chip gainers

On the other hand, Tata Motors, HCL Tech, Shree Cement and UltraTech were the worst hit among the nine laggards in the Nifty50 pack. 

Here’s how the 30-scrip basket fared: