MCX Trading Hours Revised for Daylight Saving Time

MCX Revises Trading Hours Effective March 10 Due to US Daylight Saving Time

The Multi Commodity Exchange (MCX) has announced revised trading hours, set to take effect on March 10, 2025, in response to the changes in U.S. daylight saving time. This adjustment ensures alignment with international market timings and facilitates smoother trading operations.

SEBI Directive and MCX Circular

This decision is in accordance with the directive issued by the Securities and Exchange Board of India (SEBI) under Circular No. SEBI/HO/CDMRD/DMP/CIR/P/2018/146, dated November 30, 2018. It also follows MCX's earlier circular released on September 27, 2024.

Revised Trading Hours for Commodities

The revised trading hours are as follows:

• Non-Agri Commodities: 9:00 AM – 11:30 PM (Client code modification allowed until 11:45 PM)
• Select Agri Commodities (Cotton, Cotton Oil & Kapas): 9:00 AM – 9:00 PM (Modification until 9:15 PM)
• All Other Agri Commodities: 9:00 AM – 5:00 PM (Modification until 5:15 PM)

Impact on Market Operations

The adjustment in trading hours is expected to impact traders and investors dealing in commodities on the MCX. It is crucial for market participants to take note of these changes to ensure timely execution of trades and modifications.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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Q3 Earnings This Week: HAL, Nykaa, and 108 More

108 Companies Gear Up to Announce Q3 Earnings This Week: HAL, Vi, Nykaa, and More

The Q3 FY25 earnings season is drawing to a close, with a significant number of companies poised to release their financial results this week. A total of 108 companies are scheduled to announce their earnings, offering investors a final glimpse into the performance of various sectors.

Key Earnings Releases to Watch

This week's earnings announcements include prominent names across diverse industries. Here are some key companies to keep an eye on:

• Eicher Motors
• Nykaa
• Hindalco
• Patanjali Foods
• Varun Beverages
• IRCTC
• Lupin
• Tata Investment Corporation
• Vodafone Idea
• Ashok Leyland
• Hindustan Aeronautics (HAL)
• Honasa Consumer
• RVNL

Earnings Release Dates: February 10 - February 14

The earnings releases are spread throughout the week, from February 10 to February 14. Here's a breakdown of companies announcing results each day:

February 10

Apollo Hospitals Enterprise, Avanti Feeds, Bata India, CRISIL, Eicher Motors, Elgi Equipments, Engineers India, Esab India, Escorts Kubota, FSN E-Commerce Ventures, Galaxy Surfactants, Garware Technical Fibres, Gillette India, Grasim Industries, Gujarat State Fertilizers & Chemicals, HBL Engineering, National Aluminium Company, Patanjali Foods, PNC Infratech, Saregama India, Signatureglobal (India), Sun Pharma Advanced Research Company, TVS Supply Chain Solutions, Varroc Engineering, and Varun Beverages.

February 11

Astrazeneca Pharma India, Bayer CropScience, Berger Paints India, Birlasoft, BLS International Services, Campus Activewear, Cello World, Cera Sanitaryware, Devyani International, E.I.D. - Parry (India), EIH, HEG, Indian Railway Catering and Tourism Corporation (IRCTC), Ircon International, Kirloskar Oil Engines, Lupin, NBCC (India), Procter & Gamble Hygiene and Health Care, RHI Magnesita India, Sammaan Capital, Schneider Electric Infrastructure, Shree Renuka Sugars, Steel Authority of India, Tata Investment Corporation, Techno Electric & Engineering Company, and Vodafone Idea.

February 12

Aegis Logistics, Ashok Leyland, Balaji Amines, Bharat Forge, Bombay Burmah Trading Corporation, Crompton Greaves Consumer Electricals, Endurance Technologies, FDC, Finolex Cables, Godawari Power and Ispat, Godrej Industries, Graphite India, Hindustan Aeronautics, Honasa Consumer, IFCI, IIFL Finance, Jubilant FoodWorks, Kirloskar Brothers, Muthoot Finance, Natco Pharma, Power Finance Corporation, Procter & Gamble Health, Rail Vikas Nigam (RVNL), Rashtriya Chemicals and Fertilizers, Ratnamani Metals & Tubes, Siemens, SKF India, Suven Pharmaceuticals, TBO Tek, Valor Estate, and Vijaya Diagnostic Centre.

February 13

Anupam Rasayan India, Concord Biotech, Deepak Nitrite, Godfrey Phillips India, Grindwell Norton, Gujarat Pipavav Port, Hindalco Industries, Ipca Laboratories, ITI, KIOCL, KNR Constructions, Manappuram Finance, MMTC, SJVN, and United Breweries.

February 14

Aditya Birla Fashion and Retail, Easy Trip Planners, GlaxoSmithKline Pharmaceuticals, Glenmark Pharmaceuticals, Gujarat Narmada Valley Fertilizers & Chemicals, Ingersoll-Rand (India), Kama Holdings, Narayana Hrudayalaya, PTC Industries, Samvardhana Motherson International, and Swan Energy.

Investors will be closely analyzing these earnings releases to gauge the financial health and future prospects of these companies, which could potentially trigger market movements.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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OYO Reports Rs 166 Crore Profit in Q3, Bookings Rise 33%

OYO Posts Rs 166-Crore Profit in Q3, Gross Bookings Up 33%

Travel tech company OYO has reported a profit after tax (PAT) of Rs 166 crore for the third quarter ended December, marking a significant turnaround from the Rs 25 crore profit in the same period last year. This represents a nearly six-fold increase in profitability.

Key Financial Highlights

Several factors contributed to OYO's strong financial performance in Q3:

• Revenue Growth: Revenue rose to Rs 1,695 crore, a 31% increase from Rs 1,296 crore a year earlier.
• Adjusted EBITDA: Adjusted EBITDA reached Rs 249 crore, a 22% increase from Rs 205 crore a year ago.
• Gross Booking Value (GBV): GBV reached Rs 3,341 crore, a 33% increase from Rs 2,510 crore in the same quarter of the previous fiscal year.

These figures exclude the financials of G6 Hospitality, as the acquisition was effective in the third week of December.

Nine-Month Performance

For the first nine months of the ongoing fiscal year, OYO reported a PAT of Rs 457 crore, compared to a loss of Rs 111 crore in the same period last year. This underscores the company's strong performance throughout the year.

Growth Drivers

OYO's growth was primarily driven by robust performance in its core markets of India and the US. Emerging markets in Southeast Asia and the Middle East also made significant contributions.

Strategic Initiatives

The company's recent strategic initiatives include:

• Premiumisation efforts of its India portfolio.
• Acquisition of US-based hotel major G6 Hospitality.
• Acquisition of Paris-based rental home player Checkmyguest.

Rating Upgrade

Global rating agency Moody's upgraded OYO's rating to B2 from B3, maintaining a stable outlook. Moody's estimates that OYO's EBITDA will reach $200 million in fiscal year 2025-26, which will be its first full year of earnings consolidation with its newly acquired businesses.

OYO's recent performance demonstrates its ability to run profitable operations and achieve strong revenue growth, solidifying its position in the global travel tech market.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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BP & ONGC Partner to Boost Mumbai High Production by 44%

BP to Help ONGC Boost Mumbai High Oil, Gas Production Under 10-Year Deal

Global energy giant BP is set to collaborate with Oil and Natural Gas Corp. (ONGC) to enhance oil and gas production from the Mumbai High fields under a 10-year technical service contract. BP has committed to increasing oil production by 44% and gas output by 89% in exchange for a fixed fee.

The BP-ONGC Agreement

ONGC signed the technical service contract with BP last month to reverse the declining output from the aging field. This collaboration is structured to leverage BP's expertise and technology to boost production levels.

Contract Details

Under the agreement:

• ONGC will make all the necessary investments.
• BP will provide technical advice and expertise.
• For the first two years, BP will receive a fixed fee.
• Thereafter, BP will get a share of the incremental oil and gas production.

Production Targets

BP projects a significant increase in production from the Mumbai High field:

• Oil production is expected to rise by 44% to 65.41 million tonnes.
• Gas output is projected to increase by 89% to 112.63 Billion Cubic Metres (BCM).

The increase in production is expected to commence in the next fiscal year, starting April 1, with full-scale visibility anticipated by 2027-28.

Financial Implications

ONGC estimates that the incremental production will generate additional oil and gas revenue of up to $10.3 billion and contribute as much as $5 billion in taxes and other levies to the government.

BP's service fee is subject to a 25% ceiling. The contract period with BP is 10 years, with a possible extension of five years.

Historical Context

The Mumbai High field currently produces approximately 132,265 barrels of oil per day and around 13 billion cubic meters of gas. Without intervention, this output was projected to decline significantly by 2037-38.

The Mumbai High field, discovered in February 1974, is India's most prolific oil field. Its current output accounts for almost 38% of India's oil production and 14% of its consumption.

Significance for India

For a country that relies heavily on imports to meet its crude oil and natural gas needs, the BP deal offers a promising prospect for boosting domestic production and reducing import dependence.

ONGC believes that the field still holds a balance reserve of 80 million tonnes of oil and over 40 BCM of gas, making it crucial to partner with companies like BP to tap these resources effectively.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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Nithin Kamath: Digital Fraud Concerns & SEBI, RBI Actions

Nithin Kamath Highlights Rise in Digital Frauds, Urges SEBI and RBI to Take More Action

Nithin Kamath, the founder and CEO of Zerodha, has voiced concerns regarding the increasing prevalence of fake apps impersonating banks, brokers, and payment platforms. His remarks, shared on social media, follow the Reserve Bank of India's (RBI) recent initiative to introduce an exclusive 'bank.in' domain for Indian banks, aimed at combating phishing and online fraud.

Growing Concerns Over Digital Fraud

Kamath emphasized the escalating variety of digital frauds and cautioned that artificial intelligence (AI) could further exacerbate the issue. While acknowledging the efforts of regulatory bodies like the RBI and the Securities and Exchange Board of India (SEBI), he stressed the need for more decisive action, particularly in addressing fake financial apps that mimic legitimate platforms.

SEBI's Proposed UPI ID System

Kamath referenced SEBI's recently released consultation paper, which proposes a unique UPI ID system for registered brokers. Under this proposal, brokers and mutual funds would be assigned UPI handles with the "@payright" identifier, followed by the bank’s name. For instance, a registered broker’s UPI ID might be formatted as “abc.bkr@payrighthdfc.”

This initiative aims to ensure that investors transfer funds only to SEBI-registered intermediaries and not to fraudulent entities using deceptive UPI IDs. A green triangle with a thumbs-up icon would signify verified transactions, helping users distinguish between legitimate brokers and scammers.

RBI's 'bank.in' Domain Initiative

The RBI’s initiative to implement the 'bank.in' domain represents another significant step toward securing digital financial services. This measure aims to prevent phishing scams, which often involve fraudulent websites mimicking bank portals. The domain will be exclusively available to Indian banks, making it easier for users to verify the authenticity of bank websites.

The registration process, overseen by the Institute for Development and Research in Banking Technology, is scheduled to begin in April 2025. The RBI also plans to introduce a similar "fin.in" domain for non-banking financial entities.

The Urgent Need to Address Fake Financial Apps

Kamath underscored that while these measures address website and payment fraud, regulators must also prioritize the removal of fake financial apps, which pose a growing threat to users. These apps can deceive users into providing sensitive financial information, leading to potential losses.

By taking comprehensive action against both website and app-based fraud, regulators can create a safer digital financial environment for investors and consumers.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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FPIs Withdraw Rs 7300 Cr from Indian Equities Amid Trade Concerns

FPIs Continue Selling Spree: Withdraw Rs 7,300 Crore from Indian Equities in a Week

Foreign Portfolio Investors (FPIs) have continued their net selling trend in the Indian equity markets, withdrawing over Rs 7,300 crore (approximately $840 million) in the first week of February. This follows a substantial outflow of Rs 78,027 crore in January.

Reasons Behind the Outflow

Several factors have contributed to this continued selling pressure from FPIs:

• Global Trade Tensions: The imposition of tariffs by the United States on countries like Canada, Mexico, and China has heightened concerns about a potential trade war, leading to risk aversion among global investors.
• Rupee Depreciation: The Indian rupee has weakened significantly, breaching the Rs 87 per US dollar mark. A weaker rupee reduces returns for foreign investors, making Indian assets less attractive.

Expert Opinions

Analysts suggest that market sentiment will likely be influenced by global macroeconomic developments, domestic policy measures, and currency movements.

One expert noted that the strength of the dollar index and high US bond yields continue to put pressure on FPIs to sell. However, they also anticipate that FPI selling may decrease as the dollar index and US bond yields show signs of softening.

The victory of the BJP in the Delhi elections is expected to have a positive short-term impact on the market. The medium to long-term trend will depend on the recovery in GDP growth and earnings.

Debt Market Inflows

While FPIs were net sellers in the equity market, they were buyers in the debt market, investing Rs 1,215 crore into debt general limit and Rs 277 crore into debt voluntary retention route.

Overall Trend and Historical Comparison

The overall trend indicates a cautious approach by foreign investors, with net inflows into Indian equities significantly lower in 2024 at just Rs 427 crore, compared to the extraordinary Rs 1.71 lakh crore in 2023. In 2022, there was a net outflow of Rs 1.21 lakh crore.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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