Stock Market Today: All You Need To Know Going Into Trade On Jan. 7
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
The S&P 500 and the Dow Jones Industrial Average edged higher on Monday as chipmaker and technology stocks rose at the opening bell.
The S&P 500 rose over 0.74%, whereas the tech-heavy Nasdaq Composite and Dow Jones rose 1.77% and 0.33% respectively.
The Indian benchmark indices declined the most since Oct. 3, 2024, ending lower for the second consecutive session on Monday as a broad selloff in Indian equities sparked high volatility and loss of investor confidence. The NSE Nifty 50 closed 388.70 points or 1.62% down at 23,616.05, while the BSE Sensex settled 1,258.12 points or 1.59% lower at 77,964.99.
Foreign portfolio investors stayed net sellers for the second straight session on Monday and sold stocks worth approximately Rs 2,575.1 crore, according to provisional data from the National Stock Exchange. Domestic institutional investors stayed buyers for the 14 consecutive session and bought stocks worth Rs 5,749.7 crore.
The Indian currency weakened by five paise to close at 85.83 against the US dollar.
Stocks To Watch
Info Edge (India): The company reported standalone billing of Rs 668 crore for third quarter in this fiscal, marking a significant increase compared to Rs 578 crore in the same period last year.
Nuvoco Vistas Corp: The company's resolution plan for Vadraj Cement has been approved. A phased investment in Vadraj Cement will be implemented over a span of 15 months.
ICICI Securities: The company has settled with SEBI by paying Rs 40.2 lakh in a case related to a code-of-conduct violation. SEBI, however, has reserved the right to initiate any necessary actions in the future.
S H Kelkar and Co: The company reported consolidated revenue of Rs 1,548 crore for the first nine months of the financial year, registering a 17% growth year-on-year. However, gross margins remained under pressure, primarily due to supply constraints.
Tata Motors: Production stood at 1.33 lakh units in the third quarter, slightly lower than the 1.35 lakh units produced in the year-ago period. However, sales rose to 1.39 lakh units compared to 1.38 lakh units in the same period last year.
Titagarh Rail Systems: The company has successfully delivered a driverless, Made-in-India train set to Bengaluru Metro's Yellow Line, marking a significant milestone in the development of indigenous metro rail systems.
Bharti Airtel and Vodafone Idea: The companies have entered into a share purchase agreement with iBus Network for the transfer of its entire stake in Firefly Networks. Bharti Airtel and Vodafone Idea will sell its stake in Firefly Networks for Rs 4.5 crore each.
Insecticides India: The company has introduced a new product, Centran, designed to tackle stem borers in paddy crops.
Manappuram Finance: The company has clarified reports regarding a robbery at its branch in Odisha, where gold jewellery and cash were stolen from the strongroom. The value of the stolen assets is estimated to be around Rs 20 crore.
Persistent Systems: The company has signed an asset purchase agreement with Soho Dragon Solutions worth $5.94 million to acquire select assets.
Electronics Mart India: The company has commenced the commercial operations of a new multi-brand store under the brand name 'Bajaj Electronics.
Akzo Nobel India: Akzo Nobel NV is considering the sale of its powder coating business and its international R&D operations to an indirect arm. The company is also exploring the potential acquisition of the Decorative Paints Intellectual Property owned by ANNV.
Coal India: The company has signed a MoU with IREL to collaborate on the development of mutually agreed assets related to critical minerals.
Power Grid Corp: The company has been declared the successful bidder for two projects aimed at establishing an interstate transmission system.
Caplin Point Laboratories: The company's arm has received an Establishment Inspection Report from the US FDA with zero 483 observations for its Tamil Nadu manufacturing facility.
Ashoka Buildcon: The company's arm has executed a concession pact with NHAI, with an accepted bid project cost of Rs 1,391 crore.
Adani Enterprises: The company's arm, Adani Petrochemicals Ltd., has incorporated a joint venture named Valor Petrochem with Indorama Resources.
Nibe: The company has been granted the status of "Mega Projects" for its proposed manufacturing facilities at Reed/Undi Taluka – Ratnagiri.
Hindustan Foods: The company has appointed Manojkumar Patani as President - Ice-cream Business.
Nesco: The company has become the highest bidder for a project from National Highways Logistics Management.
Ceat: The Company has informed about further Investment in Tyresnmore Online Pvt.
Mahindra & Mahindra: The company reported a 20% increase in total production, reaching 53,361 units in comparison to 44,495 units in the same period last year. Total sales saw a 14% rise, amounting to 66,676 units compared to 58,369 units YoY.
Piramal Pharma: The company has appointed Sai Ramana Ponugoti as the CEO of India Consumer Healthcare, effective immediately.
InterGlobe Aviation: The company has received a customs order worth Rs 2.2 crore from the Air Cargo Complex, as the Customs Officer has denied the duty exemption on the import of aircraft parts.
Dynamic Services: The company has entered into a MoU with Orion Security Solutions for a work contract valued at Rs 476 crore.
Vakrangee: The company has renewed its agreement with Bank of Baroda to provide banking services across India. This renewal ensures the continuation of offering comprehensive financial inclusion and banking services nationwide.
ICICI Prudential Life Insurance Co: The company has received a GST order from the Tamil Nadu government upholding a tax demand. ICICI Prudential plans to file an appeal against the demand as per the said order.
Bajaj Finserv: The company reported a general insurance premium of Rs 1,331 crore for December 2024. Meanwhile, total life insurance premium for the month stood at Rs 1,055 crore.
Listing Day
Indo Farm Equipment: Shares of the company will debut on stock exchanges on Tuesday at an issue price of Rs 215 per share. The Rs 260-crore IPO was subscribed 229.68 times as NIIs led demand, with their portion booked 503.83 times. The QIB portion was subscribed 242.40 times, while the retail portion was subscribed 104.92 times
IPO Offering
Standard Glass Lining Technology: The public issue was subscribed 13 times on day 1. The bids were led by non-institutional investors (24.4 times), retail investors (14.2 times), and qualified institutional investors (1.8 times).
Quadrant Future Tek: The IPO opens on Jan. 7 and closes on Jan. 9. The IPO has a price band of Rs 275 to Rs 290 and minimum lot size of 50.
Bulk Deals
Jyoti Structures: Follis Advisory sold 52.47 lakh shares at Rs 25.63 apiece.
Dr. Lal Path Labs: Multi-Manager ICVC sold 4.35 lakh shares at Rs 2,997.11 apiece
Insider Trading
Borosil Renewables: Promoter group Kiran Kheruka bought 96,000 shares on Dec. 31, 2024.
Pledge Share Details
Hubtown: Promoter Vyomesh M. Shah revoked pledge on 6 lakh shares, while promoter group Vyomesh M. Shah HUF revoked a pledge on 9 lakh shares on Jan. 3.
Trading Tweaks
Price Band Change From Rs 2 to Rs 5: Dynamic Services & Security Ltd.
Price Band Change From Rs 20 to Rs 10: Jai Corp
Ex/Record Rights Issue: Nibe Ordnance and Maritime
Who's Meeting Whom
Advanced Enzyme Technologies: To meet investors and analysts on Jan. 9.
F&O Cues
Nifty January futures down by 1.5% to 23,730 at a premium of 114 points.
Nifty January futures open interest down by 1.34%.
Nifty Options Jan. 9 Expiry: Maximum call open interest at 25,000 and maximum put open interest at 21,850.
Securities in ban period: Hindustan Copper, Manappuram Finance, RBL Bank.
Money Market
The rupee weakened by five paise to close at 85.83 against the US dollar. It closed at 85.78 on Friday. The Indian rupee had declined to a fresh low against the US dollar during the day on Monday, as the demand for the greenback persisted. The Indian unit had declined by 4 paise to a record low of 85.82 a dollar within one hour of the session.
