Stocks in the Asia-Pacific region advanced on Wednesday following a muted Wall Street session as traders awaited further cues from the upcoming key inflation data.
Australia's S&P/ASX 200 opened higher with the benchmark index advancing by 0.30%, or 25 points, to 8,255 as of 6:26 a.m. Japan's Nikkei was up 76 points, or 0.20% at 38,508.
Future contracts in Mainland China were to a negative start, while those in the US rose in early trade on Tuesday. Meanwhile, benchmark indices in China and India are seeing their worst start to a year since 2016.
US markets saw a muted session on Tuesday with slight decline in tech stocks. The S&P 500 rose 0.1% to close at 5,842.91, while the Dow Jones Industrial Average advanced 0.52% to 42,518.28. Nasdaq Composite declined 0.23% to 19,044.39.
All three main US stock market indices ended mixed on Tuesday, with the Dow Jones Industrial Average closed 0.52% higher. The S&P 500 rose 0.11% and the Nasdaq Composite lost 0.23%.
The dollar index — which tracks the greenback's performance against a basket of 10 leading global currencies — was 0.62% lower at 109.27. This is the first fall in the dollar index in last six sessions. The fall comes after the data showed that US wholesale inflation has eased unexpectedly.
Brent crude was trading 1.35% lower at $79.92 a barrel as of 6:37 a.m. IST. Gold spot was trading 0.13% lower at $2,673.95 an ounce.
The NSE Nifty 50 and BSE Sensex snapped a four-session declining streak on Tuesday, tracking a rise in HDFC Bank Ltd. and ICICI Bank Ltd.
The benchmark also posted their best session in over a week. Adani Enterprises Ltd. and Adani Ports and Special Economic Zone Ltd. were the top gainers in the Nifty.
The NSE Nifty 50 ended 90.10 points or 0.39% higher at 23,176.05, and the BSE Sensex closed 169.62 points or 0.22% higher at 76,499.63.
Foreign portfolio investors stayed net sellers of Indian equities for the eighth straight session on Tuesday and sold stocks worth Rs 8,132.3 crore.
Domestic institutional investors have been buyers for 20 consecutive sessions and bought stocks worth Rs 7,901.1 crore, according to provisional data from the National Stock Exchange.
Indian rupee weakened by eight paise to close at 86.65 against the US dollar.
Earnings Today
Aeroflex Industries, Authum Investment & Infrastructure, Ceat, HDFC Life Insurance Co., L&T Technology Services, Bank Of Maharashtra, Maharashtra Scooters, Nelco, Oracle Financial Services Software, Oriental Hotels, Punjab & Sind Bank, Reliance Industrial Infrastructure, Transrail Lighting.
Earnings Post Market Hours
Hathway Cables and Datacom Q3FY25 (Consolidated YoY)
Revenue up 1.3% at Rs 511 crore versus Rs 505 crore
Ebitda up 1.2% at Rs 83.1 crore versus Rs 82.1 crore
Margin at 16.3% versus 16.26%
Net profit down 39% at Rs 13.6 crore versus Rs 22.4 crore
Shoppers Stop Q3FY25 (Consolidated YoY):
Revenue up 11.5% at Rs 1,379 crore versus Rs 1,237.5 crore
Ebitda up 13 % at Rs 246 crore versus Rs 218 crore
Margin at 17.8% versus 17.6%
Net profit up 42% at Rs 52 crore versus Rs 37 crore
Network18 Media and Investment Q3FY25 (Consolidated YoY):
Revenue down 23.3% at Rs 1,361 crore versus Rs 1,774 crore
Ebitda loss at Rs 21.6 crore versus Loss of Rs 172 crore
Net loss at Rs 1,400 crore versus loss of Rs 102 crore
Stocks To Watch
Allcargo Gati: The company reported a total volume of 113kt for December 2024, including surface and air express, compared to 105kt in December 2023 and 102kt in November 2024.
Indian Railway Finance Corp.: The company has been selected as the lowest bidder to finance Rs 3,167 crore for the development of a coal block in Jharkhand. This project is being executed by Patratu Vidyut Utpadan Nigam Ltd., a joint venture between NTPC Ltd. and Jharkhand Bijli Vitran Nigam Ltd.
Federal Bank: The bank has received an order from the Office of the Principal Commissioner, Central Board of Indirect Taxes and Customs, Kochi, imposing a penalty of Rs 10,46,59,172. It will file an appeal against this order.
ASK Automotive: Arm ASK Automobiles Pvt. Ltd. has started commercial production at its manufacturing facility in Karnataka.
Quadrant Future Tek: The company has appointed Amit Kumar Jain as chief executive officer and Mohit Vohra as managing director.
Adani Green Energy: Adani Renewable Energy Forty-Eight Ltd., a step-down subsidiary of Adani Green Energy Ltd., has successfully commissioned a 57.2 megawatt of wind power component at the Khavda project. With this addition, the company’s total operational renewable generation capacity now reaches 11,666 MW.
Syngene International: The company has received certificates in form two from the Commissioner of Income Tax for the assessment years 2012-13 to 2018-19 under the 'Direct Tax Vivad Se Vishwas Scheme.' The company is now required to pay a total tax amount of Rs. 9,46,57,694 for these assessment years.
Blue Dart Express: The company has launched India's largest low emission integrated operating facility in Delhi. This facility, featuring solar power installations, links various air and ground services between North India and the rest of the country.
Jammu and Kashmir Bank: The Securities Exchange Board of India has warned Jammu & Kashmir Bank to consistently disclose management disclosures to exchanges. This has come as the bank was late in disclosing the Reserve Bank of India's approval of Amitava Chatterjee as its managing director and chief executive officer of the bank.
Finolex Cables: The company has launched a new product namely ‘FinoUltra’. It is a wired product that will cater to the domestic market.
Hero Motocorp.: The company has launched the Destini 125 scooter in three variants, with prices ranging from Rs 80,450 to Rs 90,300.
Sula Vineyards: The company achieved its highest-ever revenue from its own brands and wine Tourism in the third quarter of fiscal 2025. Net revenue decreased by 0.7% year-on-year to Rs 217 crore. Revenue from its own brands grew by 1% year-on-year to Rs 195 crore. While revenue from its wine tourism increased by 11.5% year-on-year to Rs 16.4 crore.
Escorts Kubota: The Delhi High Court has dismissed the appeal filed by the Income Tax Department against the company for the assessment year 1986-87, reducing the tax implication by Rs 0.84 crore.
PCBL: The company name has been changed from 'PCBL Ltd.' to 'PCBL Chemical Ltd.,' effective from Jan. 20, 2025.
GMR Airports: Vistra ITCL (India) Ltd., acting as debenture trustee and security trustee, has released a 6.4% stake in GMR Airports.
Glenmark Life Sciences: The company name has been changed from 'Glenmark Life Sciences Ltd.' to 'Alivus Life Sciences Ltd.,' effective from Jan. 20, 2025.
Optiemus Infracom: The company’s wholly owned subsidiary, 'Optiemus Unmanned Systems Pvt., has partnered with Taiwan-based drone manufacturer KunWay Technology to produce their extensive range of drones in India.
Larsen & Toubro: The company has launched its the second multi-purpose vessel for the Indian navy from its Kattupalli Shipyard near Chennai.
Innova Captab: The company has announced the start of commercial production at its state-of-the-art manufacturing facility in Kathua, Jammu. With this expansion, the company now operates a total of five manufacturing facilities and nine independent manufacturing blocks at the consolidated level.
Steel Authority of India: The company has appointed Alok Verma as the director in-charge of Rourkela steel plant and Manish Raj Gupta as the director of technical, projects, and raw materials.
Morepen Laboratories: The company has approved the transfer of its medical devices business to its subsidiary— Morepen Medtech, on a slump sale basis.
Camlin Fine Sciences: The company has received a GST demand order of Rs 3.33 crore from the Maharashtra Government.
Trident: Trident Group Enterprises Pte. Ltd., a wholly owned subsidiary of Trident Ltd. based in Singapore, has acquired the entire shareholding of THTL Trading L.L.C., a limited liability company incorporated in Dubai.
Mankind Pharma: The company has set the record date for the redemption of its commercial paper listed on BSE Ltd., as Jan. 15. The redemption is scheduled for Jan. 16.
SIS: The company has made an additional investment of Rs 70 lakh in Agarsha Senior Care Pvt. Ltd. by participating in the rights offer through the subscription of compulsorily convertible preference shares.
Dhani Services: The company has launched a prestigious residential project in Gurugram, named “Indiabulls Estate & Club-I.”
Sudarshan Chemical Industries: The company's subsidiary, Sudarshan Europe BV, has acquired an entity incorporated in Germany. The newly acquired entity will become a step-down subsidiary of the company.
Premier Energies: The company's subsidiaries, Premier Energies Global Environment Pvt., Premier Energies International Pvt. Ltd., and Premier Energies Photovoltaic Pvt. Ltd. have received and accepted multiple orders totaling to Rs 1,460 crore from two major independent power producers and others.
IPO Offerings
Laxmi Dental Ltd.: The public issue was subscribed to 16.03 times on day two. QIBs bid at 0.84 times, non-institutional investors bidding was at 37.41 times, retail individual investors bidding was at 29.51 times.
Bulk Deals
Easy Trip Planners: Attha Samiddhi Ventures bought 4.45 crore shares (1.26%) at Rs 14.59 apiece, while Arunaben Sanjaykumar Bhatiya sold 1.86 crore shares (0.53%) at Rs 14.74 apiece.
Home First Finance Co: Norges Bank on account of the Government Pension Fund Global sold 7.5 lakh (0.84%) at Rs 1,023.28 apiece.
Trading Tweaks
Price Band Change from Rs 10 to Rs 5: Pudumjee Paper Products, Spandana Sphoorty Financial
Move Out of ASM Framework: Ganesh Green Bharat, Zota Health Care
Who's Meeting Whom?
Man Industries (India): To meet analysts and investors on Jan. 17.
Axiscades Technologies: To meet analysts and investors on Jan. 17.
ZF Steering Gear (India): To meet analysts and investors on Jan. 17.
Uno Minda: To meet analysts and investors on Jan. 20.
F&O Cues
Nifty January futures up by 0.51% to 23,280 at a premium of 104 points.
Nifty January futures open interest down by 0.82%
Nifty Options Jan. 16 Expiry: Maximum call open interest at 24,000 and maximum put open interest at 23,000
Securities in ban period: Aarti Industries, Angle One, Bandhan Bank, Hindustan Copper, L&T Finance, RBL Bank
Money Market
The Indian rupee ended at record closing low again on Tuesday as it weakened by seven paise to close at 86.65 against the US dollar.
The currency depreciated by 73 paise over the last two days. On Monday, it closed at 86.58.
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