- #TCS renews contract with #Aviva for 15 more years
- What should you expect from #JubilantFoodworks' Q3 results?
All this and more with Alex Mathew on 'All You Need To Know'. #NDTVProfitLive
_______________________________________________________
For more videos subscribe to our channel: https://www.youtube.com/@NDTVProfitIndia
Visit NDTV Profit for more news: https://www.ndtvprofit.com/
Don't enter the stock market unaware. Read all Research Reports here: https://www.ndtvprofit.com/research-reports
Follow NDTV Profit here
Twitter: https://twitter.com/NDTVProfitIndia , https://twitter.com/NDTVProfit
LinkedIn: https://www.linkedin.com/company/ndtvprofit
Instagram: https://www.instagram.com/ndtvprofit/
#ndtvprofit #stockmarket #news #ndtv #business #finance #mutualfunds #sharemarket
Share Market News | NDTV Profit LIVE | NDTV Profit LIVE News | Business News LIVE | Finance News | Mutual Funds | Stocks To Buy | Stock Market LIVE News | Stock Market Latest Updates | Sensex Nifty LIVE | Nifty Sensex LIVE
- What should you expect from #JubilantFoodworks' Q3 results?
All this and more with Alex Mathew on 'All You Need To Know'. #NDTVProfitLive
_______________________________________________________
For more videos subscribe to our channel: https://www.youtube.com/@NDTVProfitIndia
Visit NDTV Profit for more news: https://www.ndtvprofit.com/
Don't enter the stock market unaware. Read all Research Reports here: https://www.ndtvprofit.com/research-reports
Follow NDTV Profit here
Twitter: https://twitter.com/NDTVProfitIndia , https://twitter.com/NDTVProfit
LinkedIn: https://www.linkedin.com/company/ndtvprofit
Instagram: https://www.instagram.com/ndtvprofit/
#ndtvprofit #stockmarket #news #ndtv #business #finance #mutualfunds #sharemarket
Share Market News | NDTV Profit LIVE | NDTV Profit LIVE News | Business News LIVE | Finance News | Mutual Funds | Stocks To Buy | Stock Market LIVE News | Stock Market Latest Updates | Sensex Nifty LIVE | Nifty Sensex LIVE
Category
📺
TVTranscript
00:00 (upbeat music)
00:02 (upbeat music)
00:05 (upbeat music)
00:07 (upbeat music)
00:10 Good morning, and thanks so much for tuning in.
00:39 This is NDTV Profit and my name is Alex Mathew.
00:41 You're watching All You Need to Know.
00:43 Let's get to the headlines.
00:45 IMF upgrades India's GDP growth forecast to 6.7% as part of a global growth upgrade.
00:51 The fund also sees China's growth picking up.
00:55 US markets trade mixed amid caution ahead of the Fed outcome.
01:00 Shares of Alphabet as well as Microsoft slide on results.
01:03 The Dow, however, notches a second straight record close.
01:08 Asian markets follow suit.
01:10 Early risers open mixed as China and Australia await key economic data.
01:16 Tata Consultancy Services signs a new 15-year deal with Aviva PLC to service its 5.5 million
01:22 customers.
01:23 The deal could be worth over $1 billion.
01:27 Swiggy's losses increase to over Rs 4,000 crore despite a 45% surge in revenue.
01:36 First up, it's good news for India's economy.
01:39 A day before the Union Budget, the International Monetary Fund has revised its growth forecast
01:46 to 6.7% in the current financial year.
01:49 That's 40 basis points higher than its previous forecast.
01:53 The IMF has also revised the forecast for FY25 and FY26 by 20 basis points each and
02:00 now projects the GDP to grow 6.5% in both of those financial years.
02:07 In international news, US markets closed mixed as investors await the first interest rate
02:12 decision of 2024.
02:13 The Dow notched a second straight record close.
02:16 While the S&P 500 and the Nasdaq fell about 0.06%, its flat more or less and about 7.1%
02:26 respectively.
02:27 Asian markets have followed suit with the early rises in trade mixed.
02:31 In fact, right now you're seeing red across the board.
02:34 The Nikkei 225 trading with cuts of about 0.7% and Shanghai also losing ground.
02:40 Narrow cuts for the Hang Seng as we speak.
02:43 In Japan, you've seen a rebound in factory output in December though it was still below
02:49 the consensus estimates.
02:51 Let's turn to the Indian equity markets and talk about the latest skews from the F&O space.
02:56 You've seen a lot of chop and churn over the last few sessions.
03:00 In fact, you saw a bit of selling in trade yesterday.
03:02 Agam is here to break down the latest data for you.
03:06 Agam, I guess caution is what is prevailing across the board globally.
03:13 What are the cues heading into trade today for us?
03:15 Right.
03:16 Again, Alex, it's not going to be a very easy market trade as you've already suggested.
03:20 It has been a choppy one over the past few weeks and well, there's a likelihood that
03:25 choppiness could come through until we finally have the outcome of the Voton account that
03:29 comes up tomorrow.
03:31 Of course, the fact that we do have weekly expiry is now coming in doesn't really help,
03:37 but we certainly did have a lot of traction when it comes to markets yesterday.
03:41 And even as the index, that is the Nifty, fell by around 1%, we saw a lot of traders
03:46 take off their positions.
03:47 There was indicated by a near 9% decline in OI.
03:50 As far as the Nifty futures go, for the bank Nifty futures again, we didn't see too much
03:55 change in the underlying nor did we see too much change as far as its open interest is
04:01 concerned.
04:02 Now, in terms of the range that we are keeping an eye on as far as the Nifty goes, well,
04:06 yesterday of course we saw a lot of writing around 21.6 and 21.7.
04:12 Well, considering the Nifty came off to a certain extent and I reckon it is going to
04:18 be a hard one to call because at this point of time in the run up to the budget, there
04:24 will not just be writing, but a lot of buying as far as options are concerned as well.
04:28 But where does that leave us when it comes to range based on max OI on the Nifty?
04:32 That hasn't really changed.
04:34 On the higher end, but we are looking at a considerable amount of writing around the
04:39 21.7 through 22,000 calls.
04:43 And on the lower end, we don't have as much traction as far as puts go, which also begs
04:48 the question of whether or not we can in fact expect a little bit more weakness based on
04:51 max OI right now.
04:53 It is also the bank Nifty expiry and we will be talking about that as well.
04:57 Well, the sort of a kind of a pivot is around 44, 500 and that's where we are seeing significant
05:03 amount of traction as far as calls go.
05:05 On the lower end, continuing to keep an eye on 45,000, which at the moment seems unlikely.
05:10 It could be breached, but these days we have about a good 500, 600 point move.
05:15 So it isn't out of the works completely.
05:19 But that said, let's talk about stocks then.
05:22 We saw longs building up in Concord and Zee Entertainment and shorts building in Coromandel
05:26 International, Bajaj Finance reacting to earnings and Chambal Fertilizers.
05:30 And on the other hand, saw longs and winding in Co-Forge Gales and MCX and about a short
05:36 covering for JK Cement and Sinjin International.
05:39 And once again, Alex, today is the Bank Nifty weekly options expiry.
05:42 I reckon banking counters once again will remain focused today.
05:45 Alright, thanks so much, Agam for bringing us those details.
05:48 From the IT space, Tata Consultancy Services is likely to be active in trade today because
05:53 it signed a new 15 year deal with Aviva.
05:57 In the release that was sent out yesterday, there was no mention of the quantum of the
06:01 deal, but there are indications as to how big it could be.
06:04 Tushar is joining in to tell you about the significance and also the nitty gritties of
06:08 it.
06:09 Tushar, you've picked up what the deal value could potentially be.
06:13 Is this significant and how does one look at it in the context of deal making for IT
06:18 companies?
06:19 Absolutely, Alex.
06:20 First of all, good morning to you and Agam both.
06:23 So this is actually a renewal contract with the UK's biggest insurers, insurer Aviva,
06:27 PLC.
06:28 We have to remember that TCS and Aviva have been in a deal for 20 years.
06:32 Now, this particular deal will push the TCS Aviva Alliance to about 2039.
06:37 Now, while TCS did not disclose the financial details of the transaction, our conversations
06:42 with analysts indicated that TCS stands to gain at least $100 million every year from
06:49 this particular deal.
06:50 A Mint report also indicated that the deal could be valued at $2.5 billion, which will
06:56 be actually the largest outsourcing contract that TCS has won in its lifetime.
07:02 So what essentially that means for TCS's earnings, TCS's dollar revenue growth so far this fiscal
07:08 year, in the nine months to December 31st, rose about 4.7 percent.
07:12 TCS now needs about only $146 million to beat its FY23 growth numbers.
07:19 That is the key number that is there.
07:20 So estimating that it's going to earn $100 million and if these incremental revenues
07:24 step in at Q4, that's a plus for TCS.
07:27 We have to also remember that these compare with the TCS Transamerica deal that was scrapped
07:33 last June.
07:34 That was a $2 billion deal spread over 10 years.
07:37 And we also have to remember that TCS has struck another deal with an insurer, a U.S.-based
07:41 insurer, a U.K.-based insurer called Nest at $1.99 billion over 18 years.
07:47 In the Nest case, the company is handling 10 million accounts.
07:50 In the case of Aviva's new account, they just run 5.5 million accounts.
07:55 So essentially almost half of it.
07:57 So we are ballparking the TCS Aviva deal, the new one, at $1.5 billion.
08:02 Alex.
08:03 Fantastic.
08:04 Thanks so much for bringing us those details.
08:06 Tusharan, it bodes well for the rest of the ITPAC as well, if the largest IT company manages
08:11 to strike a deal.
08:12 Let's talk about the pharma space and earnings then.
08:15 And Dr. Reddy's Laboratories has reported an 11 percent growth in net profit for the
08:19 third quarter.
08:20 But I'm sure there's a lot more to focus on than just that headline number.
08:24 Monal is joining in with all of the fine print.
08:27 Monal, what can you tell us about the numbers?
08:29 Good morning.
08:30 Good morning, Alex.
08:31 Yes, profits did come up, but they were pretty much in line with the estimates while they
08:37 were up 11 percent.
08:38 Margins came in slightly lower at 28.1 on higher SG&A expenses is what the analysts
08:46 are saying.
08:47 The North American market did report a growth of 9 percent, but India market was muted at
08:52 around 5 percent.
08:55 Now, management in conversation with us did tell us that they're expecting a high single
09:01 digit growth to continue and aiming at a double digit growth which will outpace the India
09:07 market very soon.
09:08 They're also aspiring to be in the top five in India.
09:09 Now, all of a sudden, the analysts are still not as positive on the stock.
09:10 Citi has maintained its sell version, saying that the relevant contribution to the U.S.
09:11 business is not enough.
09:12 So, there's a lot of uncertainty.
09:13 And the reason for that is that the stock market is not as positive as it was in the
09:14 beginning.
09:15 So, the reason for that is that the stock market is not as positive as it was in the
09:16 beginning.
09:17 So, the reason for that is that the stock market is not as positive as it was in the
09:18 beginning.
09:19 So, the reason for that is that the stock market is not as positive as it was in the
09:20 beginning.
09:21 So, the reason for that is that the stock market is not as positive as it was in the
09:22 beginning.
09:23 So, the reason for that is that the stock market is not as positive as it was in the
09:24 beginning.
09:25 So, the reason for that is that the stock market is not as positive as it was in the
09:26 beginning.
09:27 So, the reason for that is that the stock market is not as positive as it was in the
09:28 beginning.
09:29 So, the reason for that is that the stock market is not as positive as it was in the
09:30 beginning.
09:31 So, the reason for that is that the stock market is not as positive as it was in the
09:32 beginning.
09:33 So, the reason for that is that the stock market is not as positive as it was in the
09:34 beginning.
09:35 So, the reason for that is that the stock market is not as positive as it was in the
09:36 beginning.
09:37 So, the reason for that is that the stock market is not as positive as it was in the
10:00 beginning.
10:08 So, the reason for that is that the stock market is not as positive as it was in the
10:09 beginning.
10:10 So, the reason for that is that the stock market is not as positive as it was in the
10:11 beginning.
10:12 So, the reason for that is that the stock market is not as positive as it was in the
10:13 beginning.
10:14 So, the reason for that is that the stock market is not as positive as it was in the
10:15 beginning.
10:16 So, the reason for that is that the stock market is not as positive as it was in the
10:17 beginning.
10:18 So, the reason for that is that the stock market is not as positive as it was in the
10:19 beginning.
10:20 So, the reason for that is that the stock market is not as positive as it was in the
10:21 beginning.
10:22 So, the reason for that is that the stock market is not as positive as it was in the
10:23 beginning.
10:24 So, the reason for that is that the stock market is not as positive as it was in the
10:48 beginning.
11:14 This is the reason why I do not track pharma, ladies and gentlemen.
11:17 Updates on new launches as well is what we are looking at.
11:20 We will get Monal to get you more details over the course of the day though.
11:24 Let us talk about Larsen and Tubro then and this is a company that has reported its profit
11:31 as well as revenue and much higher than what was expected as well I believe.
11:37 We have got Vikas joining in to give you some perspective on that.
11:40 Vikas, what can you tell us?
11:42 Yeah, right.
11:43 Alex, good morning.
11:46 As you rightly said, they have reported earnings which are better than the estimates what the
11:51 analysts had estimated and they have beaten it by good numbers as far as the profits and
11:58 revenues are concerned.
12:00 But it is not as good as on the EBITDA margin side, mostly on the strong execution in the
12:07 project and the manufacturing segment that the company has undertaken in this quarter.
12:12 The order inflows mostly from the international orders has helped the company.
12:17 Almost 67% of the orders have come from Middle East and other international geographies where
12:23 they are present.
12:25 Although domestic has not done well mostly because it is an election season and the company
12:31 expects that from second quarter of FY25 domestic orders will again pick up.
12:38 But till then it is the international orders which have been helping the company and the
12:41 executions are taking place there in the projects and the manufacturing space mostly.
12:48 As far as their margins are concerned, the company believes that this is likely to be
12:55 hit or will continue to be hit for at least for some quarters.
12:59 There has been sequential recovery in that although, but from FY25 onwards the company
13:05 sees that these legacy orders where the margins were low especially from the Covid period,
13:10 they will start to come up once the execution will happen in that, there also the performance
13:16 will improve.
13:17 As far as the key monitorables or takeaways from this earnings was that the company has
13:24 raised the guidance for order inflows as well as for the revenues.
13:32 Order inflow they expect guidance of 20% in FY24 which was earlier 10-12% and revenues
13:40 they expect that this will be in the high teens.
13:43 Okay, I got it.
13:45 Thanks so much Vikas for bringing that down for us.
13:47 Stock was under little bit of selling pressure yesterday but remember it had a stellar run
13:51 over the last 12 months or so and I am looking at gains of over 70% in that period.
13:57 Let us talk about Maruti Suzuki as well then.
14:00 Its market capitalization being eclipsed by Tata Motors in trade yesterday but of course
14:06 the earnings are what we are focusing on today for Maruti Suzuki and we have got Vinay joining
14:10 in to give you some perspective on what to expect.
14:13 Vinay, what can you tell us?
14:14 Morning.
14:15 Well, according to Bloomberg estimates the profit is likely to rise 27% in higher sales
14:21 and increase share of SUVs in these overall sales.
14:24 So the overall sales in the quarter rose 7.6% year on year to 5.01 lakh units and that is
14:31 going to help the company in the quarter and a combination of higher volumes and rise in
14:36 average ticket prices due to increase share of SUVs in the overall sales will aid the
14:40 company's performance in the quarter.
14:42 Revenue is likely to rise 20% and margin may expand to 11.7% compared with 10.2% last year
14:49 and this is also due to softer commodity prices that we have seen in the quarter for the automobile
14:55 companies.
14:56 Got it.
14:57 Thanks so much Vinay for bringing us those details.
14:59 We have to slip into a very quick break.
15:01 We have got stock specific action on the other side.
15:03 So do stay tuned.
15:04 Thanks so much.
15:05 Thanks.
15:06 Thanks.
15:07 Thanks.
15:08 Thanks.
15:22 Thanks.
15:28 Thanks.
15:38 Thanks.
15:48 Thanks.
15:58 Thanks.
16:08 Thanks.
16:18 Thanks.
16:28 Thanks.
16:38 Thanks.
16:48 Thanks.
16:58 Thanks.
17:08 Thanks.
17:18 Thanks.
17:28 Thanks.
17:38 Thanks.
17:48 Thanks.
17:58 Thanks.
18:09 Thanks.
18:18 Thanks.
18:27 Thanks.
18:36 Thanks.
18:43 Thanks.
18:50 Thanks.
18:57 Thanks.
19:03 Thanks.
19:09 Thanks.
19:19 Thanks.
19:29 Thanks.
19:39 Thanks.
19:49 Thanks.
19:59 Thanks.
20:09 Thanks.
20:19 Thanks.
20:31 Thanks.
20:41 Thanks.
20:51 Thanks.
21:01 Thanks.
21:15 Thanks.
21:25 Thanks.
21:35 Thanks.
21:45 Thanks.
21:55 Thanks.
22:07 Thanks.
22:17 Thanks.
22:31 Thanks.
22:41 Thanks.
22:53 Thanks.
23:03 Thanks.
23:15 Thanks.
23:25 Thanks.
23:39 Thanks.
23:49 Thanks.
24:03 Thanks.
24:13 Thanks.
24:27 Thanks.
24:37 Thanks.
24:51 Thanks.
25:01 Thanks.
25:15 Thanks.
25:25 Thanks.
25:39 Thanks.
25:49 Thanks.
25:59 Thanks.
26:09 Thanks.
26:21 Thanks.
26:31 Thanks.
26:43 Thanks.
26:53 Thanks.
27:05 Thanks.
27:15 Thanks.
27:27 Thanks.
27:37 Thanks.
27:49 Thanks.
27:59 Thanks.
28:11 Thanks.
28:21 Thanks.
28:33 Thanks.
28:43 Thanks.
28:53 Thanks.