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As 3:30 p.m. the Dow Jones Industrial Average and S&P 500 futures were trading 0.31% and 0.35% higher, respectively. The Nasdaq 100 future was 0.46% higher.
US: ISM Manufacturing PMI — 8:30 p.m.
US: ISM Manufacturing Prices — 8:30 p.m.
US: Energy Information Administration Natural Gas Storage Report — 9:00 p.m.
US: The US Federal Reserve Bank of Richmond President Thomas Barkin will speak at Economic Outlook Forum, in Maryland — 9:30 p.m.
The NSE Nifty 50 and BSE Sensex rose for second week in a row.
The Nifty 50 and Sensex snapped a two-day rising streak on Friday.
The NSE Nifty IT declined the most, while the NSE Nifty Media rose the most.
HDFC Bank Ltd., ICICI Bank Ltd., and Tata Consultancy Services Ltd. dragged the Nifty 50 index.
Tata Motors Ltd., Reliance Industries Ltd., and Oil and Natural Gas Corp limited losses in the Nifty 50.
The NSE Nifty Midcap 150 ended 0.32% down at 21,403.50.
The NSE Nifty Smallcap 250 ended 0.26% down at 17,960.65.
Panacea Biotec Ltd. arm, Panacea Biotec Pharma, has launched baby diapers and wipes under the brand name NikoMom, according to an exchange filing.
NHPC has received approval from the Ministry of Corporate Affairs for the merger of Lanco Teesta Hydro with the company, according to an exchange filing.
KEC International Ltd. has received orders worth Rs 1,097 crore in its Transmission and Distribution business, according to an exchange filing.
NSE achieved 268 IPOs in 2024.
Mainboard: 90 IPOs; SME: 178 IPOs.
Total capital raised: Rs 1.67 lakh crore.
Highest number of IPOs in Asia.
Highest equity capital raised globally.
Source: NSE Media Release
JM Financial Ltd. has received a warning letter from the Securities Exchange Board of India in relation to the IPO of shares by one of its clients, Western Carriers, according to an exchange filing.
Most share indices declined across Europe on Friday, tracking overnight losses on Wall Street. US jobless claims declined more than expected, showing resilience of labour market in the world's largest country. This nudged the fear that the Federal Reserve will remain hawkish for longer period.
The Euro Stoxx 60 and FTSE 100 were 0.31% and 0.11% down, respectively as of 2:04 p.m.
Should you buy Avenue Supermarts after Friday's rally? How to trade shares of Jai Corp after the sharp decline it saw for a second consecutive session? How is Reliance Industries likely to trade in the near-term?
Read Astha Jain, research analyst at Hem Securities and Kushal Gandhi, technical analyst at StoxBox answer these queries here.
HDFC Bank Not Among CLSA Top 2025 Picks, But These Stocks Are
Rate sell with price target of Rs 96, downside of 6.6%
Both advances and deposits grew faster than PNB’s guidance
Expect RAM segments to be the primary growth driver
Mgmt. maintains NIM guidance of 2.9-3.0%
Expect ~2% QoQ growth in NII and 5-6bps QoQ fall in NIMs
Contained credit cost at 25 basis points could help the bank register RoA of 0.9-1%
Gujarat Pipavav Port Ltd.'s quarter three Container Cargo Volume At 1.77 lakh TEU Vs 2 lakh TEU.
Alert: TEU Is Twenty Foot Equivalent Unit
Source: Exchange filing
Jai Corp Shares Tumble Over 35% In Two Days After Land Parcel Sale To Reliance
Godrej Agrovet Ltd. has launched a new product, Godrej Pride Hog, aimed at boosting pig health and immunity, according to an exchange filing.
Initiate at Buy with a target price with Rs 60, which implied an upside of 20%
Sagility stands out for its steady growth at 12% USD revenue CAGR over FY18-24 and superior margin profile
Although High client concentration remains a risk
Helathcare has a larger target addressable market
Valuations are at 17x Mar’27E EV/EBITDA
JSW Steel Ltd. has received a GST demand of Rs 3.7 crore, including interest and penalty, as per an exchange filing.
KPI Green Energy's arm has received a Letter of Award (LoA) for the development of solar power projects with a cumulative capacity of 32.15 MW under the CPP segment, according to an exchange filing.
Loans & advances as of Dec 31 increased by 12.6% to Rs 2.45 lakh crore compared to Rs 2.18 lakh crore.
Deposits as of Dec 31 grew by 14.6% to Rs 2.77 lakh crore compared to Rs 2.42 lakh crore.
CASA as of Dec 31 increased by 27.6% to Rs 91,575 crore compared to Rs 71,749 crore.
CASA ratio as of Dec 31 was 33% compared to 29.7%.
Source: Exchange filing
Adani Ports & Special Economic Zone Ltd. has reported that its December cargo volumes increasing by 8% year-on-year to 38.4 million metric tonn. Additionally, December container volumes grew by 22%, while liquids and gas volumes saw a 7% increase, as per an exchange filing.
Western Carriers (India) Ltd. has received a work order worth Rs 139 crore from Vedanta for material handling, according to an exchange filing.
Market breadth was skewed in favour of buyers. Around 1,992 advanced, 719 stocks declined, and 120 remained unchanged on BSE.
At pre-open, the NSE Nifty 50 was trading 7.75 points or 0.03% higher at 24,196.40. The BSE Sensex was 129.28 points or 0.16% higher at 80,072.99.
The yield on the 10-year bond opened flat at 6.80%. It closed at 6.79% on Thursday, according to data on Bloomberg.
Rupee weakened by 5 paise to open at 85.80 against the US Dollar. It closed at 85.75 on Thursday, according to data on Bloomberg.
Oil future prices were hovering around two-month high in Asia session Friday as supply outlook worries rise on diminishing US stock piles. As of 8:30 a.m., the February future contract was trading 0.43% higher at $76.06 a barrel as of 8:41 a.m.
Forecast muted Nifty returns in 2025
This is because of the near term growth slowdown in India with elevated valuations
Add Tata motors, NTPC, Nestle and Britannia to CLSA India focus portfolio
Remove: HDFC bank and cut overweight in Banks
Sectoral overweight: Commodity, Insurance
Sectoral underweights: IT, Healthcare, discretionary, industrials
Morgan Stanley maintains EQUALWEIGHT on Petronet LNG at Rs 400 target, which implied a 22% upside
Expect share price to rise over next 15 days
Concerns on regulatory intervention are overdone
Near term triggers: Normalisation of Asian LNG prices, potential to expand by 5 MTPA, growth in Indian LNG demand
Stock at attractive valuations, with volume clarity expected for FY26 and FY25
Expect profit pain to persist; earnings cut are likely
Govt spending may lead a near-term spurt; but credit/export recovery is needed
Export recovery in 2025 still uncertain; downgrade IT to Neutral on rich valuations
Margins levers exhausted in FMCG sector
Key variables for Indian markets: Trade wars, Fed, China and macro policy
What's In Nuvama's Portfolio:
Key Overweight: Pvt banks, insurance, pharma, telecom, cement, consumer, chemicals
Key Underweights: Industrials, power, metals, energy, autos, PSU banks, NBFCs
Note: Nuvama has more conviction on its Underweights vs Overweight
NHPC has received order worth Rs 250 crore under the Mega Insurance Policy for the Teesta-V power station loss, as per an exchange filing.
Maintains Sell rating with a target price of Rs 3,500, which implied a 3.1% downside.
Growth rate accelerates partly led by store expansion
Watch out for margin trajectory
Revenue per store saw 2.7% five-year CAGR
Remains cautious due to increasing competitive intensity from quick commerce
Believes throughput continues to be impacted due to adverse product mix, store additions in smaller towns, increasing competitive intensity from quick commerce
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