Good morning!
The GIFT Nifty is trading at a 0.03% decline at 25,809.50 as of 6:50 a.m., indicating a muted to negative open for the benchmark Nifty 50.
S&P 500 futures trade 0.45% lower.
Euro Stoxx 50 futures trade 0.02% down.
India Market Recap
Indian equities ended lower for the fifth consecutive day on Friday. Nifty had fallen below the 25,700 levels. Intraday, both Nifty and Sensex fell nearly 1%. Nifty ended 193.55 points or 0.75% lower at 25,683.30. Sensex settled 604.72 points or 0.72% down at 83,576.24.
The broader indices also ended in the negative. Nifty Midcap 150 ended 0.88% lower and Nifty Smallcap 250 closed 1.70% lower.
Most sectoral indices fell with Nifty Realty and Nifty Auto leading the decline. Nifty Oil and Gas, Nifty IT and Nifty PSU Banks were among the gainers.
The market breadth was skewed in favour of sellers, as 3,098 stocks declined, 1,067 advanced and 189 remained unchanged on the BSE.
Nifty logged a weekly decline of 2.5%, its worst since the week ended Sept. 22. Trent Ltd. and Reliance Industries Ltd. were the major laggards.
US Market Wrap
The US stock rally on Friday was driven by largely benign jobs data, which showed payroll growth coming in slightly below economists’ expectations while the unemployment rate dipped to 4.4%. In a separate development, the US Supreme Court declined to rule on President Donald Trump’s tariffs, leaving one major source of market uncertainty unresolved for now.
The dollar weakened after Federal Reserve Chair Jerome Powell said the central bank had received grand jury subpoenas from the Justice Department, raising the prospect of a criminal indictment linked to his June testimony before Congress on the renovation of the Fed’s headquarters.
Asian Market Recap
Asian equities opened on a firmer note after strong US jobs data pushed Wall Street to fresh record highs on Friday, while oil prices rose amid escalating protests in Iran.
Stocks in Australia and South Korea, along with Hong Kong index futures, moved higher, tracking the S&P 500, which gained 0.6% to end at an all-time high. US equity futures were slightly lower. Japanese markets are closed on Monday for a holiday, meaning cash trading in US Treasuries will be absent in Asia.
Commodity Check
Gold jumped to a fresh record as US jobs data kept expectations of further interest-rate cuts alive, while intensifying protests in Iran lifted geopolitical risk.
Bullion rose above $4,564 an ounce early Monday after last week’s US payrolls report showed job growth came in below forecasts, reinforcing bets that the Federal Reserve will continue to ease policy to support the economy. Silver was trading just below its all-time high, while palladium and platinum also advanced.
Oil extended gains for a third straight session as unrest in Iran raised concerns about supply from OPEC’s fourth-largest producer. Brent moved toward $64 a barrel after surging almost 6% over Thursday and Friday — its biggest two-day rise since October — while West Texas Intermediate hovered near $60.
Stocks In News
Bank Of Baroda: Receives RBI nod for units for standalone primary dealer business.
Crompton Greaves: Launched 70W & 80W Dynaray LED lamps.
Travel Food Services: Arm TFS Delhi T3 enters a license with Delhi Airport to operate food and beverage outlets at the airport.
Sequent Scientific: Name of the company changed to Viyash Scientific.
ITC Hotels: Receives letter of allotment for leasehold land in Dwarka. The lease premium is of Rs 326.5 crore.
Beta Drugs: Acquired 66.1% stake in Nivian Life Sciences.
Karur Vyasa Bank: Opens new branch in Pune.
CUPID: The company to consider bonus issue on Jan. 29.
NBCC: Opened Dubai office for Project Management Services.
ONGC: Clears out majority debris from Mori Wellsite days after gas leak.
PTC Industries: Arm received an order from Blue Origin. The order is for large superalloy Investment castings.
Akzo Nobel: Board appointed Parth Jindal as Chairman. Rajiv Rajgopal re-designated as joint managing director and chief executive officer.
Vedanta: NCLT Mumbai approves demerger of Talwandi Sabo Power from Vedanta.
Fortis Healthcare: The company's arm completes acquisition of TMI Healthcare.
Saatvik Green: The company clarified that the actual order value of the turnkey EPC project is Rs 21 crore. Reports stating Rs 29 crore are inaccurate.
Tata Power: The company acquired 100% stake in SPV Jejuri Hinjewadi Power Transmission for Rs 2.4 crore.
Bata India: The company has completely implemented its voluntary retirement scheme, which will have a financial impact of Rs 28.06 crore.
Capital India Finance: The company announced that RBI has renewed the grant of Authorised Dealer Category-II licence, enabling its Remitx vertical to buy or sell foreign exchange.
Manappuram Finance: The company clarified that media reports about the Bain deal being delayed due to regulatory concerns are factually incorrect and speculative in nature.
Shriram Finance: Moody’s has changed the company’s outlook to positive from stable and affirmed its Ba1 rating.
Lemon Tree: Warburg Pincus will buy a 41% stake in Lemon Tree’s arm, Fleur Hotels, from APG Strategic. Warburg Pincus will invest Rs 960 crore in Fleur Hotels, which will be listed as a separate entity on the bourses.
Max Estates: NYL (New York Life Insurance) subscribes to 6.6 crore compulsory convertible debentures of MENPL (Max Estates Noida Private) for Rs 66 crore. MEL subscribes to 6.8 crore compulsory convertible debentures of MENPL for Rs 68 crore.NIIT Learning Systems: The company acquired SweetRush Inc for $26 million.
ICICI Lombard: The company reported an inadvertent leak of draft Q3 financial results and urged investors to ignore unapproved financial information.
Nibe: The company’s arm, Nibe Defence and Aerospace, received a government license for manufacturing and proof testing firearms.
Kernex Microsystems: The company could not complete its order within the timeline due to delays in the certification process. The order was from CLW (Chittaranjan Locomotive Works) to supply KAVACH equipment for 2,500 locomotives.
Zydus Wellness: Gujarat High Court granted an ad-interim relief to its arm, Zydus Wellness Products, regarding a GST demand of Rs 56.3 crore raised by Surat tax authorities on Dec. 25, 2024.
JSW Energy: The company has been served with a copy of the appeal filed by MSEDCL against the MERC order.
Ellenbarrie Industrial Gases: The company signed a Rs. 7.1 crore power delivery and offtake agreement with Pattikonda Renewables Private.
Prestige Estates: The company incorporated a wholly-owned arm named Stellar Prism.
Chemplast Sanmar: The company reappointed Ramkumar Shankar as MD for two months from February 1, and also appointed S Ganeshkumar as director from April 1, and as managing director for three years starting April 1.
Spandana Sphoorty: The board accorded in-principle approval for the proposed merger of its arm, Criss Financial, into the company and authorised the Merger Steering Committee to evaluate the proposed merger.
ONGC: The company established well control at Mori-5 within five days after a blowout occurred on Jan. 5 during service operations.
Zydus Lifesciences: The company dissolved its arm, Ampliman 2, France, without liquidation effective Jan. 9. The dissolution will not impact the company’s business operations.
Indo Thai Securities: The company converted 20,000 warrants into two lakh shares. The preferential allotment committee approved equity share issuance and allots two lakh shares pursuant to conversion of warrants in the ratio of 1 warrant converted into 10 shares under SEBI ICDR preferential issue norms.
Prestige Estates: The company incorporated a new arm named Orange Grove Lands.
Lloyds Engineering Works: The company entered into a pact with The Materials Works (US-based) to manufacture and sell EPS Gen 4 cells.
Protean eGov Technologies: The company received an order worth Rs 25 crore from IIIT Bangalore for delivery of digital public infrastructure and services for Ethiopia’s agriculture ecosystem.
Deep Industries: The company reported that gas leakage at well Mori #5 has been fully contained and successfully stopped. The situation is now under total control with no injury or loss of life reported.
Quadrant Future Tek: The company approved Rs 8.75 crore from its IPO monitoring account for reimbursement of IPO-related expenses.
Kothari Industrial Corp: The company received listing approval from BSE for 11 lakh shares.
Saatvik Green: The company’s arm, Saatvik Solar Industries, received Rs 13.8 crore for the supply of solar PV modules.
Capital India Finance: The company announced that RBI has renewed the grant of Money Transfer Service Scheme licence.
Aequs Limited: Rajeev Kaul is recognised as co-founder of the company.
Beta Drugs: The company will acquire a 66.1% stake in Nivian Lifesciences for Rs 69.4 crore.
Leela Palaces Hotels & Resorts: Material subsidiary Schloss Chanakya received favourable Transfer Pricing order for AY 2023–24; no adjustment proposed.
Dr. Reddy’s Laboratories: The company received Post-Application Action Letter (PAAL) from USFDA for Bachupally biologics facility.
Power Finance Corporation: The company approved public issue of secured, rated, listed NCDs up to Rs 5,000 crore under Tranche I.
UCO Bank : The company slashed MCLR across all tenors by five basis points
Waaree Renewable: The company informed that Kamlesh Harchandani has resigned as CEO of data centre business.
SPARC: The board will meet on Jan. 14 to consider raising funds.
Brightcom Group: The company expects retail media networks to double their share of digital budgets by 2027.
MedPlus Health: The company’s arm has received one suspension order for a drug license for a store in Karnataka.
Q3 Business Updates/Earnings
Ashiana Housing
Area booked in Q3 stands at 5.56 lakh square feet
Value of area sold in Q3 stands at Rs 401 crore
M&M
Production up 25% At 68,992 Units (YoY)
Sales up 27% at 85,501 Units (YoY)
Phoenix Mills
Retail portfolio consumption up 20% YoY at Rs. 4,787 crore;
Newer malls continued to scale up well
Gross residential sales at Rs. 140 crore
ICICI Prudential Life
APE grew 3.6% YoY to Rs. 2,525 crore
Retail APE grew 9.9% YoY to Rs. 2,116 crore
New business premium down 12.5% YoY to Rs. 5,634 crore
Signature Global
Pre-sales down 27% at Rs 2,020 crore (YoY)
Collections up 14% at Rs 1,230 crore (YoY)
Life Insurance Data: December Premium
Life insurers premium up 39.5% YoY to Rs 42151 crore
ICICI Pru Life premium up 25.1% YoY to Rs 1945 crore
HDFC Life premium up 14.6% YoY to Rs 3108 crore
SBI Life premium up 19% YoY to Rs 6337 crore
Pvt life insurers premium up 24.9% YoY to Rs 20,85 crore
LIC premium up 57.5% YoY Rs 21,294 crore
Life Insurance Data: December Premium
Life insurers premium up 39.5% YoY to Rs 42151 crore
ICICI Pru Life premium up 25.1% YoY to Rs 1945 crore
HDFC Life premium up 14.6% YoY to Rs 3108 crore
SBI Life premium up 19% YoY to Rs 6337 crore
Pvt life insurers premium up 24.9% YoY to Rs 20,857 crore
LIC premium up 57.5% YoY Rs 21,294 crore
Earnings Post Market Hours
Avenue Supermarts Q3 FY26 (Cons, YoY)
Revenue up 13.3% at Rs 18,101 crore versus Rs 15,973 crore
Ebitda up 20.2% at Rs 1,463 crore versus Rs 1,217 crore
Margin at 8.1% versus 7.6%
Net Profit up 18.3% at Rs 856 crore versus Rs 724 crore
Globus Spirits (Cons, YoY)
Revenue up 19.1% at Rs 717 crore versus Rs 602 crore (YoY)
Ebitda at Rs 75 crore versus Rs 34.3 crore (YoY)
Margin at 10.5% versus 5.7% (YoY)
Net Profit at Rs 30.7 crore versus Rs 55 lakh (YoY)
Tejas Networks (Cons, QoQ)
Revenue down 88.4% At Rs 307 crore versus Rs 2,642 crore (YoY)
Ebitda Loss At Rs 134 crore versus Profit Of Rs 372 crore (YoY)
Net Loss at Rs 197 crore versus Profit Of Rs 166 crpre (YoY)
IREDA
Total income up 26% at Rs 2,140 crore versus Rs 1,699 crore (YoY)
Net profit up 37.6% at Rs 585 crore versus Rs 425 crore (YoY)
Bulk Deals
Tata Capital: Societe Generale bought 14.33 lakh shares (0.03%) at Rs 354.5 apiece while Marshall Wace sold 14.33 lakh shares (0.03%) at Rs 354.5 apiece.
Sigachi Industries: Ketan Hasmukhlal Doshi bought 56.83 lakh shares (1.49%) at 29.91 apiece.
Trading Tweak
Ex-stock split: SKM Egg Products (From Rs 10/- to Rs 5/)
Share to exit anchor Lock-in: Corona Remedies (2%), Canara Robeco AMC (4%), Rubicon Research (4%), Wakefit Innovations (5%), Emcure Pharma (20%), Travel Food (66%)
List of securities to be excluded from ASM Framework: NRB Industrial Bearings.
F&O Cues
Nifty January futures down by 0.67% to 25,810 at a premium of 127 points.
Nifty January futures open interest up by 3.8%.
Nifty Options on Jan 6: Maximum Call open interest at 27,000 and Maximum Put open interest at 26,000. (Bhavcopy not Out Yet)
Securities in ban period: SAIL, Samman Capital
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