🇮🇳 India Daybook ~ Stocks in News

Positive Buzz

• Titan Company: Reported a stellar 61% year-on-year surge in consolidated net profit for Q3, driven by a 42% revenue growth in its jewelry segment amid strong festive demand.
• Grasim Industries: Posted a 28% jump in net profit to ₹2,233 crore, with revenue surging 25% to over ₹44,311 crore, aided by favorable operating leverage.
• Eicher Motors: Delivered a strong performance with a 21% YoY increase in consolidated net profit to ₹1,420 crore on the back of a 23% revenue rise.
• Britannia Industries: Net profit rose 17.14% to ₹682.14 crore for the December quarter, supported by a healthy 8.2% growth in revenue.
• MSCI Index Rebalancing: Aditya Birla Capital and L&T Finance have been added to the MSCI Global Standard Index, which is expected to trigger significant passive inflows. AU Small Finance Bank will also see an increase in its weightage.
• Dividend Heavyweights: Several stocks are trading ex-dividend today, including Cummins India (₹20/share), RVNL (₹1/share), and Uno Minda (₹0.90/share).
• Route Mobile: Consolidated net profit jumped 18.45% YoY to ₹97.70 crore in Q3, despite a marginal decline in operations revenue.

Neutral Developments

• BHEL (Bharat Heavy Electricals): The government is launching a 5% stake sale (3% base + 2% green shoe option) starting today, aiming to raise approximately ₹4,422 crore.
• Q3 Earnings Calendar: A massive lineup of over 330 companies will report today, including Mahindra & Mahindra, Divi’s Laboratories, Ashok Leyland, SJVN, Patanjali Foods, and Bayer CropScience.
• IPO Closures: The initial public offerings of Fractal Analytics and Aye Finance are scheduled to close for subscription today, February 11.
• Oil India: While the company reported a net profit dip, it declared a second interim dividend of ₹7 per share. It also approved a 50% divestment in its non-performing Russian asset (Licence-61).

Negative News

• Oil India: Reported an 11% decline in consolidated net profit to ₹1,195 crore for the December quarter, primarily due to lower realizations in the crude oil segment.
• Happiest Minds Technologies: Net profit declined nearly 20% YoY to ₹40.3 crore, significantly impacted by a one-time charge of ₹22 crore related to new Labour Code compliance.
• MSCI Exclusion: IRCTC has been excluded from the MSCI Global Standard Index, which may lead to potential selling pressure from passive funds.
• Margin Pressures: Broader market sentiment is being tested by rising payroll and compliance costs linked to the new labour codes, which are starting to pinch margins in the hospitality and industrial sectors.

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