Deep Diamond India's shares emerged as one of the multibagger stocks that D-St produced in the last year. The small-cap stock offered over 75% return to its shareholders in the last one month. The share was priced Re 1 around three years ago, so ₹1 lakh invested in this stock would have turned to ₹2.46 crore today, provided the investor had remained invested in the scrip throughout this period.

State Bank of India's (SBI) quarterly profit zoomed by a better-than-expected 68.5% to a record high of ₹14,205 crore, driven by better interest income and a decline in bad loan provisions. Following this, brokerage Nirmal Bang said that India's largest lender registered RoA/RoE at almost a decade high of 1.1%/18.2%. It retained a BUY call on SBI shares with a target price (TP) of ₹667.

Newmont is planning to purchase Australia’s Newcrest Mining for $17 billion to bolster the US mining powerhouse’s position in copper and gold. Newmont, already one of the world’s biggest gold miners with an m-cap of nearly $40 billion, previously offered a lower bid for Newcrest that its board rejected. If this deal becomes successful, it would be the largest takeover globally so far in 2023.

Tata Steel is likely to register a 12.6% decline in Q3FY23 profit sequentially and 13.9% annually at Rs 52,352 crore, as per an analysts' poll. Axis Securities projected that the decline in revenues is due to lower HRC prices in India and Europe QoQ and YoY. However, the analyst forecasted that margins would improve sequentially dragged by lower coking coal costs at Indian operations.

Vaishali Parekh from Prabhudas Lilladher stated that the pullback rally on Friday was well supported by frontline banking stocks. The analyst recommended 3 stocks to buy for today: ✅Axis Bank: Buy at ₹882, target ₹910, stop loss ₹870; ✅ Mahindra & Mahindra: Buy at ₹1388, target ₹1485, stop loss ₹1370; and ✅ Pidilite Industries: Buy at ₹2341, target ₹2395, stop loss ₹2315.

📌Wall Street plunged on Friday with Dow Jones declining 0.38%, S&P 500 tanking 1.04%, and Nasdaq plunging 1.59%. 📌Asian shares eased on Monday as the MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.7%. 📌 SGX Nifty signals a negative opening for Indian indices with a loss of 22 points. 📌Tata Steel, Adani Transmission, and JK Paper among others announcing Q3 results today.

Nifty futures on the Singapore Exchange are trading lower by 23 points or 0.13% at 17,817 on Monday morning. The early barometer of India's benchmark Nifty 50 index indicates that Dalal Street was headed for a negative start today. Asian shares eased during earl deals after a run of upbeat economic data from the United States.

Adani Ports and Special Economic Zone remains under the NSE's F&O ban list for February 6 as its scrip surpassed 95% of the market-wide position limit. The stock was included in the F&O ban list on February 3. It has been experiencing selling pressure after Hindenburg Research accused the Indian conglomerate of stock manipulation and accounting fraud.

✅SBI: It logged a huge 68.5% YoY growth in standalone profit at Rs 14,205 cr in Q3FY23. ✅ITC: Its Q3FY23 profit zoomed 21% to Rs 5,031 cr supported by healthy operating performance.✅Indigo: The budget airline registered an 11-fold YoY jump in profit at Rs 1,422.6 cr in Q3FY23. ✅Vodafone Idea: The govt has directed the telco to convert AGR dues of Rs 16,133 crore into equity shares.

Aswath Damodaran, a finance professor at Stern School of Business at New York University, expressed that Adani Enterprises is priced 'too high' even at the stock's Friday closing price of ₹1,531 on the NSE. He said this after studying the company's fundamentals and analysing the damage that the Hindenburg report might have done to Adani Enterpises' reputation and long-term value.

A news report claimed that Adani Group may reduce its capital spending plans days after Adani Enterprises called off a $2.5 billion share sale. Currently, it may consider a 16-18 months target for growth in certain businesses instead of a 12-month target. The group will implement alternative funding channels from internal accruals, promoter equity funding and private placements to fund biz.

After Citi and Credit Suisse, Standard Chartered has paused lending Adani Group companies' bonds as collaterals as it is involved in a legal battle over allegations of price manipulation and accounting fraud by US short-seller Hindenburg Research. The decision, albeit a temporary one, was taken by the British lender on Friday amid volatility in Adani bond prices.

Asian shares declined today after reports of upbeat economic data from the US decreased the risk of recession. However, the data also indicated that the interest rates need to be hiked further and stay up longer. The dollar continued its uptick on the yen to a three-week top of 132.60 on Monday. MSCI's broadest index of Asia-Pacific shares outside Japan plunged 0.7%, with South Korea down 1.0%.

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