Stock Market Today: All You Need To Know Going Into Trade On Jan. 8
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
The S&P 500 and Dow Jones Industrial Average edged higher on Tuesday ahead of the release of US jobs data. The S&P 500, which is the broader index, rose over 0.39%, whereas the tech-heavy Nasdaq Composite and Dow rose 0.26% and 0.38%, respectively.
Brent crude was trading 0.80% higher at $76.91 a barrel as of 12:04 p.m. EST. Gold spot rose 0.61% to $2,652.42 an ounce.
The benchmark equity indices reversed two sessions of decline to close higher on Tuesday, helped by a broad-based rally led by oil and gas, and financials. The NSE Nifty 50 ended 91.85 points or 0.39% higher at 23,707.9, and the BSE Sensex advanced 234.12 points or 0.3% to close at 78,199.11.
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 14th consecutive session and bought stocks worth Rs 5,749.7 crore.
The Indian currency strengthened by 11 paise to close at 85.72 against the US dollar.
Stocks To Watch
Signature Global: The company reported a more than two-fold jump in sales bookings to Rs 2,770 crore on the back of better demand for its housing project in Gurugram.
Tata Steel: The company's production in India grew 6% year-on-year to 5.68 million tonnes on the back of commissioning of the blast furnace of 5 million tonnes per annum at Kalinganagar, Odisha, in September.
Sobha: The company reported a 29% year-on-year decline in total sales at Rs 1,388.6 crore. On the other hand, price realisation stood at Rs 13,663 per sq. ft. against Rs 11,732 per sq. ft. in the same period last year.
One Mobikwik Systems: The digital payments provider clarified a typographical error in its submission of unaudited financial results for the quarter and half-year ended Sept. 30, 2024.
Maruti Suzuki India: The company is set to unveil the E-Vitara at the Bharat Mobility Auto Show.
Exicom Tele-Systems: The company has signed a Memorandum of Understanding with Mufin Green Infra to develop EV charging infrastructure.
Sapphire Foods: The company has received a GST order from the Bengaluru Tax Authority demanding Rs 81.45 lakh, including interest and penalties.
The Orissa Minerals Development Co: The company has issued a suspension order against Ramakanta Behera, its chief financial officer, with immediate effect due to allegations of misconduct.
State Bank of India: The bank has appointed Baldev Prakash as deputy managing director and group chief risk officer.
Akzo Nobel, Berger Paints: Both companies have clarified that there is no development to disclose regarding any acquisition of stake. This follows reports suggesting that Berger Paints may be looking to buy Akzo Nobel's stake.
Blue Cloud Softech: The company has secured an order worth Rs 1.05 crore from Discovery Oaks Public School for the implementation of its AIoT products, Edugenie and Emotifics.
Tata Technologies: The company has signed a MoU with Telechips to innovate solutions for next-generation software-defined vehicles.
Rail Vikas Nigam: The company has signed a MoU with Dubai-based GBH International Contracting LLC to explore business opportunities in the civil infrastructure sector across GCC countries.
Puravankara: The company's board has appointed Deepak Rastogi as Group chief financial officer, effective Jan. 15. Additionally, the board has approved the acquisition of the remaining shares of Sobha Puravankara Aviation.
Birlasoft: Roopinder Singh has resigned from his position as chief executive officer - Americas of the company, effective Feb. 7.
NTPC: The company has incorporated NTPC Parmanu Urja Nigam as its arm.
Waaree Renewable Technologies: Dilip Panjwani has resigned from his position as chief financial officer, effective Jan. 31.
WPIL: The company's European arm has acquired a 100% stake in MISA Italy to expand its business in the supply of large pumps.
MedPlus Health Services: The company's arm, Optival Health Solutions, has received a suspension order for the drug licence of a store located in Chhattisgarh.
Mahindra & Mahindra: The company has announced the pricing for the top-end variants of its upcoming electric sports utility vehicles, with an aim to clock sales of 5,000 units per month from the get-go.
Jindal Worldwide: The company has recommended the issue of 4 bonus shares for each held.
Karnataka Bank: ICRA upgrades Bank's tier-II bond rating to 'A+' from A.
Mankind Pharma: The company has pledged its remaining 56.31% stake in its arm, Bharat Serums, in favor of Catalyst Trusteeship.
V-Mart Retail: The company has received a penalty order worth Rs 31.3 lakh from the Uttar Pradesh Labour Court. V-Mart plans to file an appeal against the order on legal and merit grounds.
CESC: Company was awarded Purvah Green Power a contract for a 150 MW Wind-Solar Hybrid Project, expandable by 150 MW under a Greenshoe option.
Adani Power: Care Ratings Ltd. has assigned ‘CARE AA; Stable’ credit rating to the proposed NCDs.
Vedanta: The company, in relation to an Oil & Gas block where it is the operator, has received an order from the joint commissioner, CGST & Central Excise, Ahmedabad.
Popular Vehicles - The Assistant Commissioner, Chennai Central, Tamil Nadu, has issued an order under Section 73 of the TNGST Act against the company’s wholly owned subsidiary, Popular Mega Motors (India) Private Limited. The order involves a tax impact, including interest and penalty, amounting to Rs 12.66 crore.
Castrol India, Gland Pharma, NBCC India, The Phoenix Mills, Solar Industries India, Torrent Power: The National Stock Exchange notified on Tuesday that the futures and options contract of six securities would begin trading from Jan. 31.
IPO Offering
Standard Glass Lining Technology: The public issue was subscribed to 34.8x times on day two. The bids were led by non-institutional investors (78.1 times), retail investors (32.8 times) and qualified institutional investors (4.7 times).
Quadrant Future Tek: The public issue was subscribed to 15.8x times on day one. The bids were led by retail investors (54.6 times), non-institutional investors (21.5 times) and qualified institutional investors (0.05 times).
Bulk Deals
Indo Farm Equipment: Negen Capital Services Pvt. bought 3.80 lakh shares (0.79%) at Rs 276.87 apiece.
Insider Trading
Insolation Energy: Manish Gupta and Vikas Jain, promoters and directors of the company, bought 1,450 shares and 550 shares respectively, while promoter group Vikas Jain HUF bought 350 shares on Jan. 6.
Trading Tweaks
Price Band Change From Rs 20 To Rs 10: ITI
Ex/Record Date Bonus Issue 1:2: Algoquant Fintech
Ex/Record Date Rights Issue: Camlin Fine Sciences
Ex/Record Date Stock Split From Rs 5 To Rs 2: Jagsonpal Pharmaceuticals
Ex/Record Date Stock Split From Rs 10 To Rs 1: Kamdhenu
Move Out Of ASM Framework: ITI
Who's Meeting Whom?
Samvardhana Motherson International: To meet analysts and investors on Jan. 10.
Godavari Biorefineries: To meet analysts and investors on Jan. 10.
Fino Payments Bank: To meet analysts and investors on Jan. 8.
Krishna Institute of Medical Sciences: To meet analysts and investors on Jan. 13.
Suraksha Diagnostic: To meet analysts and investors on Jan. 10.
United Spirits: To meet analysts and investors on Jan. 13 and 14.
KRBL: To meet analysts and investors on Jan. 10.
Five-Star Business Finance: To meet analysts and investors on Jan. 9.
F&O Cues
Nifty January futures up by 0.27% to 23,785 at a premium of 77 points.
Nifty January futures open interest up by 1.7%.
Nifty Options Jan. 9 Expiry: Maximum call open interest at 24,500 and maximum put open interest at 23,000.
Securities in ban period: Bandhan bank, Hindustan copper, Manappuram Finance, RBL Bank.
Money Market
The rupee closed at 85.72 on Tuesday. The currency strengthened by 11 paise against the greenback.
The Indian rupee had declined to a fresh low against the US dollar during the day on Tuesday, as demand for the greenback persisted. The Indian unit had declined by four paise to a record low of 85.82 a dollar within one hour of the session.
