Stock Market Today: All You Need To Know Going Into Trade On Jan. 10
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
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Asian equities edged lower on Friday. Japan's benchmark Nikkei dropped 0.9%, while Australia's S&P/ASX 200 was down 0.5%. South Korea's Kospi index was down 0.15%.
The US markets were closed on Thursday to mourn the death of former President Jimmy Carter. Brent crude was trading 1.30% higher at $77.2 a barrel as of 6:30 a.m. Gold spot was flat at $2,670.56 an ounce.
The Indian equities ended lower for the second day in a row on Thursday as investors shed their risk appetite and raised guard before the start of the third-quarter earnings season. The NSE Nifty 50 ended 162.45 points or 0.69% lower at 23,526.5, while BSE Sensex lost 528.28 points or 0.68% to close at 77,620.21.
Foreign portfolio investors stayed net sellers for the fifth straight session on Thursday and sold stocks worth Rs 7,170.9 crore. Domestic institutional investors stayed buyers for the 17th consecutive session and bought stocks worth Rs 7,639.6 crore, according to provisional data from the National Stock Exchange.
The Indian currency weakened by 1 paise to close at 85.86 against the US Dollar.
Earnings Today
Equinox India Developments, G N A Axles, Just Dial, PCBL
Earnings Post Market Hours
TCS Highlights (QoQ)
Revenue down 0.4% to Rs 63,973 crore versus Rs 64.259 crore (Bloomberg Estimates: Rs 64,749 crore).
Net Profit up 4% to Rs 12,444 crore versus Rs 11,955 crore (Bloomberg Estimates: Rs 12,537 crore).
EBIT up 1% to Rs 15,657 crore versus Rs 15,465 crore (Bloomberg Estimates: Rs 15,986 crore).
Margin at 24.5% versus 24.1% (Bloomberg Estimates: Rs 64,749 crore).
Tata Elxsi Highlights (QoQ)
Revenue down 1.7% to Rs 939.17 crore versus Rs 955.08 crore.
Net profit down 13% to Rs 199.00 crore versus Rs 229.43 crore.
EBIT down 8% to Rs 220.64 crore versus Rs 239.25 crore.
Margin at 23.5% versus 25.1%.
GTPL Hathway Highlights (YoY)
Revenue up 4.3% to Rs 887.27 crore versus Rs 850.88 crore.
Net profit down 61% to Rs 9.62 crore versus Rs 24.67 crore.
Ebitda down 13% to Rs 105.38 crore versus Rs 120.72 crore.
Margin at 11.9% versus 14.2%.
Ireda Result Highlight (YoY)
Revenue up 35.6% to Rs 1,698.45 crore versus Rs 1,252.85 crore.
Net profit up 27% to Rs 425.38 crore versus Rs 335.53 crore.
Stocks to Watch
Senco Gold: The company's same-store sales growth remained steady in the 13-14% range, while the stud ratio was maintained at 10.5%. It also raised Rs 459 crore through a qualified institutional placement at Rs 1,125 per share. The company aims to open 18-20 new jewellery showrooms in the fourth quarter of FY25.
IRB Infrastructure Developers: The December toll collection rose 19% to 580 crore in comparison to Rs 488 crore in the same quarter last year.
United Breweries: The company has reiterated its commitment to continuing investments in Telangana. It noted that nearly 70% of the consumer price for its beer brands comprises state taxes, while the current basic price to Telangana accounts for approximately 16% of the cost to consumers.
Computer Age Management Services: The company’s arm, CAMS Insurance Repository Services, has accelerated the digital transformation of the insurance benefits realization journey and has crossed the milestone of 1 crore e-policies.
Indegene: The company has entered into a pact with CliniOps to accelerate clinical trials.
Zensar Technologies: The company will consider the declaration of an interim dividend for financial year 2025 on Jan. 22.
Adani Wilmar: The company has set the floor price for its offer for sale at Rs 275 per share. Adani Commodities plans to sell up to a 13.5% stake in the company through the OFS, with an additional greenshoe option of 6.5%. The OFS will be held from Jan. 10 to Jan. 13.
TCS: The board has approved the acquisition of land held by TRIL units for a sum of Rs 1,625 crore, aimed at establishing delivery centers.
Polyplex Corp: The company plans to invest Rs 558 crore to set up a BOPET manufacturing film plant in India.
Vodafone Idea: The company has allotted 169 crore shares worth Rs 1,910 crore to Omega Telecom Holdings and Usha Martin Telematics.
Aarti Pharmalabs: The company has entered into a share subscription agreement with SPV Pro-zeal Green Power for the acquisition of a 26.25% stake.
GMR Airports: The company’s arm has agreed to divest a 50% stake in the Megawide GMR Construction JV to Megawide Construction Corp for $1.4 million.
Uno Minda: The company has received a GST demand order of Rs 4.17 crore for financial year 2018 and Rs 14.62 crore for financial year 2019 from the Karnataka government.
Mazagon Dock Shipbuilders: The company has delivered the sixth Scorpene-class submarine, Vaghsheer, to the Indian Navy.
Oil & Natural Gas Corp.: The company has onboarded a technical services provider to enhance production from the Mumbai High field.
Waaree Energies, Waaree Renewables: The companies has incorporated Waaree India Foundation to promote activities in healthcare and education.
Adani Total Gas: GAIL has raised the APM gas allocation to the company by 20%, effective Jan. 16. This upward revision is aimed at stabilizing retail prices for end consumers.
Indian Overseas Bank: The bank is looking to sell 46 non-performing loan accounts worth Rs 11,500 crore and will conduct the sale through an e-auction process. IOB has invited expressions of interest from Asset Reconstruction Companies ahead of the auction.
Mahanagar Gas: GAIL has raised the domestic gas allocation to the company by 26%, effective Jan. 16.
Neogen Chemicals: The National Company Law Tribunal has approved the scheme of amalgamation of its arm, Buli Chemicals, with the company.
Samvardhana Motherson: The company’s arm, MSSL Consol, has invested in a 12% optionally convertible secured note of Prysm Systems Inc.
TV Today Network: The Delhi Tribunal has dismissed appeals filed by the Income Tax Department against the company for assessment years 2017 and 2018.
Aarti Drugs: The company has executed a share subscription agreement with Prozeal Green Power and a Special Purpose Vehicle to acquire a minimum of 26.25% stake in the SPV.
Equitas Small Finance Bank: The bank has revised its interest rates for savings account customers across various balance slabs.
Lupin: The company has completed the acquisition of a 42.61% stake in Sunsure Solarpark.
ICICI Lombard General Insurance Co: The company has made investments in Power Grid Corp. through multiple tranches over a period of time.
Surya Roshni: The company has secured an order worth Rs 81.5 crore from Bharat Petroleum Corp. for a City Gas Distribution project on a pan-India basis.
IPO Offerings
Quadrant Future Tek: The public issue was subscribed to 187 times on day three. The bids were led by non-institutional investors (255 times), retail investors (247 times), qualified institutional investors (133 times).
Trading Tweaks
Price Band Change From Rs 20 To Rs 10: Spandana Sphoorty Financial.
Ex/record Stock Split: Shriram Finance.
Move Into ASM Framework: Spandana Sphoorty Financial.
Move Out Of ASM Framework: Sadhana Nitrochem.
Who's Meeting Whom?
Fino Payments Bank: To meet analysts and investors on Jan. 10.
TD Power Systems: To meet analysts and investors on Jan. 14 and Jan. 15.
BLS International Services: To meet analysts and investors on Jan. 15.
F&O Cues
Nifty January futures down by 0.46% to 23,671 at a premium of 145 points.
Nifty January futures open interest up by 5.52%.
Nifty Options Jan. 16 Expiry: Maximum call open interest at 25,150 and maximum put open interest at 24,550.
Securities in ban period: Bandhan bank, Hindustan Copper, Manappuram Finance, RBL Bank, LTF.
Money Market
The Rupee closed weaker against the dollar at 85.86. The currency weakened by one paise after opening weaker against the greenback as well. It had hit a record low of 85.94 against the dollar during the day. It closed at 85.85 on Wednesday.
