Indian Stock Market Poised for Positive Start on Wednesday
The Indian stock market is anticipated to commence trading in the green on Wednesday, February 11, buoyed by robust global market signals. Asian markets have opened on a higher note, providing a favorable backdrop, although US stock markets concluded their previous session in negative territory.
Market Outlook and Analyst Insights
Ponmudi R, CEO of Enrich Money, provided a detailed perspective on the current market scenario. "Indian equity markets are expected to open on a flat to mildly positive note today. The broader fundamental backdrop remains supportive, with Foreign Institutional Investor (FII) flows turning decisively positive this month, lending strength to overall sentiment. Domestic institutional investors continue to accumulate on declines, providing a strong underlying cushion even during low-activity sessions."
He further elaborated, "The rupee remains stable, adding macro comfort and limiting currency-driven volatility. However, markets are largely in a wait-and-watch mode ahead of key macro cues, particularly the January CPI (new series) data, where any material deviation could influence expectations around future rate cuts. In the absence of fresh triggers, the near-term trend is likely to remain range-bound, with consolidation around current levels."
Previous Session Performance
On Tuesday, the Indian benchmark indices, Sensex and Nifty 50, extended their rally for a third consecutive session, supported by positive global cues. The Sensex concluded at 84,273.92, registering a gain of 208 points or 0.25%. Simultaneously, the Nifty 50 advanced by 68 points, or 0.26%, to close at 25,935.15.
Stocks to Watch in Today's Trading Session
Several key stocks are expected to be in focus as companies prepare to announce their third-quarter financial results. The following companies will declare their Q3 results today:
- M&M
- LG Electronics India
- Lenskart Solutions
- Ashok Leyland
- AstraZeneca Pharma India
- Max Financial Services
- Patanjali Foods
Recent Corporate Earnings Highlights
Titan: The Tata Group company reported a significant 48.5% year-on-year surge in net profit to ₹1,470 crore for the quarter, up from ₹990 crore in the corresponding period last year.
Grasim Industries: On Tuesday, February 10, the company posted a net profit of ₹1,037 crore for the third quarter, marking a substantial 26.5% increase from ₹820 crore reported in the same quarter last year.
BHEL: The central government is preparing to divest a 3% stake in state-run engineering major Bharat Heavy Electricals Ltd (BHEL), with the option to offload an additional 2% via an offer for sale (OFS).
Jubilant FoodWorks: The company reported a 13.3% year-on-year increase in consolidated revenue to ₹2,437 crore, while its EBITDA grew 20.2% to ₹482.8 crore.
Eicher Motors: The company reported a strong performance in the December quarter, with consolidated revenue increasing 23% year-on-year to ₹6,114 crore.
Britannia Industries: The FMCG major posted a net profit of ₹682.1 crore for the December quarter, marking a 17% year-on-year increase from ₹582.3 crore and largely meeting Street estimates.
Tata Motors CV: The company’s Indonesian arm has won its biggest-ever contract, securing an order for 70,000 Yodha and Ultra T.7 vehicles to be deployed across Indonesia.
Other Corporate Developments
Shoppers Stop: The Board has appointed Pankaj Chaturvedi as the company’s Chief Financial Officer (CFO) and Key Managerial Personnel, effective April 1. This follows the resignation of Karunakaran Mohanasundaram from the role, with his resignation taking effect on February 17.
Highway Infrastructure: The company has signed a contract for the operation and toll collection at the Mundka Fee Plaza, with the agreement valued at ₹64.68 crore.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
