IDEAL STOCK MARKET UPDATE | MARKET OPENS

Benchmark indices started on positive note on Wednesday with Nifty trading above 10,950 level.

The Sensex is up 98.30 points at 36715.11, while Nifty is up 42.60 points at 10977. About 392 shares have advanced, 202 shares declined, and 33 shares are unchanged. 

Jubilant Food, Tech Mahindra, HPCL, Zee Entertainment, Indiabulls Housing are trading higher, while NTPC, Dr Reddy's Lab, Adani Ports, UltraTech Cement are among major losers.

Rupee Opens :

The Indian rupee opened flat at 71.55 per dollar on Wednesday versus previous close 71.56.

Rupee ahead of the important RBI policy statement is consolidating in range of 71.40 and 72.20 and most market participants are expected to remain cautious ahead of the new RBI governor’s statement. Expectation is that the RBI could consider cutting rates by 25bps and what will be important to watch is whether the central bank does change its stance.

Global Markets :

Wall Street ends higher: 

US stocks rose on Tuesday as largely upbeat corporate results fueled investor optimism ahead of the highly awaited State of the Union address by President Donald Trump.

Asian markets trade mixed:

Asian shares started cautiously on Wednesday as investors waited to see if US President Donald Trump drops any hints of progress on tariffs in his State of the Union speech.

SGX Nifty:

Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 50 points or 0.46 percent. Nifty futures were trading around 11,010-level on the Singaporean Exchange.

Domestic Markets :

Results Today: 
JSW Steel, Siemens, Cipla, Lupin, Adani Ports, Adani Power, Allahabad Bank, IGL, Punj Lloyd, CG Power, PTC India, Venkys

Here are stocks that are in news today:

Realty major DLF on Tuesday reported a 92 per cent drop in its consolidated net profit at Rs 335.15 crore for the third quarter of this fiscal, as it had posted an exceptional profit in the year-ago period from stake sale in rental arm to GIC.

Its net profit stood at Rs 4,091.27 crore in the year-ago period, the company said in a regulatory filing.

Total income, however, rose to Rs 2,405.89 crore during October-December quarter of 2018-19 fiscal year from Rs 1,855.21 crore in the corresponding period of the previous year.

Tech Mahindra Q3 profit rises 13% QoQ, revenue surges 3.6%

Strides Pharma Science gets EIR from USFDA on continued GMP status for the flagship facility in Bangalore

Jubilant Life & Jubilant Food - Jubilant Enpro Pvt. Ltd. (a promoter group company), has decided not to charge the corporate brand royalty of 0.25% of the consolidated revenues of the company and the same stands withdrawn.

HCL Technologies and Harris Geospatial Solutions partner to deliver advanced analytics solutions for the utility industry

Century Plyboards approved a proposal for setting-up a Particle Board and MDF Unit at Uttar Pradesh.

Majesco releases new electronic billing and payment solution built using Majesco Digital 1st Insuran

Lupin Launches Clomipramine Hydrochloride Capsules USP

Marico: The company's net profit grew 13 percent at Rs 251.7 crore.

HPCL: 
The profit has fallen 77 percent to Rs 247.5 crore against previous quarter.

Axis Bank:
 RBI has imposed a penalty of Rs 2 crore.

RBI Imposes Rs 1 crore penalty on Syndicate Bank

Blue Star:
 Profit for Q3 fell 15 percent to Rs 13.2 crore.

Bombay Dyeing: 
The company has posted a net loss of Rs 142.8 crore

NBCC secured the total business of Rs 355.90 crore in the month of January, 2019

Bank of Baroda has revised Marginal Cost of Funds Based Lending Rate (MCLR) w.e.f. 07th February 2019

Adani Green commissioned 12 MWac Wind Power Project and award of 390 MWac Hybrid Project to Wholly-owned subsidiaries of the company

Dish TV Q3 Cons net profit at Rs 152.7 cr vs Rs 19.7 cr (QoQ)

V-Mart Retail Q3 Net profit up 13.6% at Rs 41.7 cr Vs Rs 36.7 cr (YoY)

Suven Life Sciences Q3 Net profit up 40.2% at Rs 25.1 cr Vs Rs 17.9 cr (QoQ)

Sobha Q3 Net profit up 13% at Rs 60.6 cr vs Rs 53.8 cr (YoY)

Future Enterprises Q3 Net profit at Rs 1.1 cr Vs Rs 81.9 cr (YoY)

Tata Chemicals Q3 Net profit at Rs 266 cr Vs Rs 831.6 cr (YoY)

IDFC First Bank Q3 Net loss at Rs 1,538 cr Vs Rs 146.1 cr (YoY)

Aditya Birla Cap Q3  Net profit up 42% at Rs 206 cr Vs Rs 145 crore (YoY)

Analyst or Board Meet/Briefings

Tube Investments: The company will hold analysts call to discuss financial results on February 7, 2019.

Natco Pharma:
The company will host earnings call on February 13, 2019.

CRISIL: 
Kayne Anderson Rudnick Investment Management will meet the company on February 15, 2019.

AIA Engineering: 
The company will hold a conference call on February 8, 2019. 

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