Stocks To Watch: Grasim Industries, Dabur, Lupin, SBI, Jupiter Wagons, REC, Power Finance Corp

Grasim Industries Ltd., Dabur India Ltd. and Jupiter Wagons Ltd. will be among the companies in focus on Friday.

Grasim Industries has set Rs 1,812 per share as the price for its Rs 4,000-crore rights issue, which is at a 12.47% discount to the current market price, while Dabur India estimated that its revenue in Q3 will grow to mid-to-high single digit, driven by food business.

Jupiter Wagons received an order worth Rs 473 crore from the Ministry of Defence.

Markets in Asia-Pacific region traded on a mixed note in early Friday as investors await U.S. non-farm payroll data, due to be released today for further insight in to the world's largest economy's labour market

The Nikkei was trading 0.19% higher at 33,349.15, while the S&P/ASX 200 index was trading 0.11% at 7,502.40.

U.S. Treasury yields rose while stocks clawed back gains after data showed initial unemployment claims fell, sparking doubts about how soon and deeply the Federal Reserve could start cutting interest rates, Bloomberg reported.

Data from the U.S. Labor Department showed the number of people filing for initial state unemployment benefit lessen 18,000 to 202,000 in the last week of 2023, touching four-month low.

The S&P 500 index declined 0.34%, and Dow Jones Industrial Average advanced 0.03% and 0.32%, on Thursday. The Nasdaq 100 declined for fith day in a row, and settled 0.53% lower.

Brent crude was trading 0.66% lower at $77.59 a barrel. Gold was up 0.05% at $2,044.83 an ounce.

India's benchmark stock indices snapped a two-day losing streak to end higher on Thursday, led by gains in financial services companies.

The NSE Nifty 50 ended 141 points, or 0.66% higher, at 21,658.60, while the S&P BSE Sensex gained 491 points, or 0.69%, to close at 71,847.57.

Overseas investors turned net buyers of Indian equities after a day on Thursday. Foreign portfolio investors mopped up stocks worth Rs 1,513.4 crore, while domestic institutional investors offloaded equities worth Rs 1,387.4 crore, according to provisional data from the NSE.

The Indian rupee strengthened 6 paise to close at Rs 83.23 against the U.S. dollar on Thursday.

Stocks To Watch

• Grasim Industries: The company set Rs 1,812 per share as the price for its Rs 4,000-crore rights issue, which is at a 12.47% discount to the current market price. It will issue up to 2.2 crore shares on a partly-paid basis.

• Dabur India: The company estimated that its revenue in Q3 will grow to a mid-to-high single digit, driven by the food business. The food and beverage category is expected to grow in the high-single-digit, while the home and personal care division is expected to have record growth in the mid-single digits.

• Jupiter Wagons: The company received an order worth Rs 473 crore from the Ministry of Defence to manufacture and supply of 697 Bogie open military wagons.

• Lupin: The pharma major has received tentative approval from the U.S. FDA for Dapagliflozin and Saxagliptin tablets to market a generic equivalent of Qtern tablets of AstraZeneca AB.

• State Bank Of India: The private lender concluded the placement of a BBB-rated Green Bond worth $250 million.

• Power Finance Corp: The company increased its FY24 market borrowing plan to Rs 1.05 lakh crore from Rs 80,000 crore.

• REC: The company's unit REC Power Development and Consultancy signed a Rs 2,094 crore MoU with the Gujarat Government for the implementation of a smart metering project in Paschim Gujarat Vij Company.

• L&T Finance Holdings: The company estimates retail loan book at Rs 74,750 crore up 31% YoY and retail disbursement at Rs 14,500 crore up 25% YoY and portfolio realisation estimated at 91% at the end of Q3. The company raised Rs 500 crore via private placement of non-convertible debentures.

• RBL Bank: The company recorded total deposits at Rs 92,743 crore, up 13% YoY, and gross advances at Rs 81,870 crore, up 20%, and a CASA ratio of 33.8% vs 36.6% YoY.

• Jammu and Kashmir Bank: The company recorded total deposits at Rs 1.28 lakh crore, up 9% YoY, and gross advances at Rs 93,626 crore, up 14.1% YoY and CASA ratio at 50.59% vs 53.71% YoY.

• Sun TV Network: The company's unit Kal Radio approved the merger of Udaya FM into itself.

• Torrent Pharmaceuticals: The company incorporated a subsidiary in Columbia for business expansion.

• Brightcom Group: Vijay Kancharla resigned as chief investment officer and executive director, effective Jan. 2 due to personal reasons.

• Waaree Renewable Technologies: The company will consider a stock split in a board meeting on Jan. 20.

• Utkarsh Small Finance Bank: The company recorded December end gross loan portfolio at Rs 16,408 crore, up 30.8% YoY, and total deposit at Rs 15,111 crores up 17.6% YoY and CASA ratio at 20% vs 21% in Q3 2022.

• Power companies: The Central Electricity Regulatory Commission, in its draft tariff norms for FY25–FY29, has raised the return on equity for new storage-based hydro projects—including pumped hydro—to 17% from 16.5%.

Bulk Deals

• Sobha: Dendana Investments Mauritius bought 5.09 lakh shares (0.53%) at Rs 1,269.57 apiece.

Pledge Share Details

• Mangalore Chemicals and Fertilizers: Promoter Zuari Agro Chemicals revoked a pledge for 20 lakh shares on Jan. 2.

Who's Meeting Whom

• Torrent Power: To meet analysts and investors on Jan. 9.

• Allcargo Gati: To meet analysts and investors on Jan. 10.

• Flair Writing Industries: To meet analysts and investors on Jan. 9.

• Gravita India: To meet analysts and investors on Jan. 9.

• Eris Lifesciences: To meet analysts and investors on Jan. 9.

Trading Tweaks

• Price band revised from 10% to 5%: PC Jeweller, Jay Bharat Maruti.

• Ex/record Stock Split: Nestle India.

• Moved into a short-term ASM framework: Alok Industries, Bajel Projects, Indo Amines.

• Moved out of a short-term ASM framework: Genesys International Corp, Heritage Foods, Inox Green Energy Services.

F&O Cues

• Nifty January futures up by 0.86% to 21,785.95 at a premium of 127.35 points.

• Nifty January futures open interest down by 1.8%.

• Nifty Bank January futures up by 1.19% to 48,501.75 at a premium of 305.9 points.

• Nifty Bank January futures open interest up by 2.4%.

• Nifty Options Jan 11 Expiry: Maximum Call open interest at 22,500 and Maximum Put open interest at 21,000.

• Bank Nifty Options Jan 10 Expiry: Maximum Call Open Interest at 50,000 and Maximum Put open interest at 46,000.

• Securities in the ban period: Balrampur Chini Mills, Chambal Fertilizer, Delta Corp, Escorts, Gujarat Narmada Valley Fertilizer and Chemicals, Hindustan Copper, Indian Energy Exchange, Indian Cements, National Aluminium, SAIL, Zee Entertainment.

Research Reports

• Jio Financial Services - Firing On Multiple Engines: KRChoksey Initiates Coverage With A 'Buy' Rating

• NTPC - Well-Placed To Benefit From Re-Transition: Axis Securities Initiates Coverage With A 'Buy' Rating

• Sobha - Aiming For Higher Scale With Strong Balance Sheet: Motilal Oswal

• Sagar Cements - Gearing Up To Monetise The Andhra Land: HDFC Securities

• NBFCs Q3 Results Preview- Healthy Profitability Despite NIM Restraint From Rising Cost Of Funds: Motilal Oswal

• Cement Q3 Results Preview - Lofty Ebitda, Yet Limited Reasons To Cheer: ICICI Securities

• Non-Lending Q3 Results Preview - Capital Markets-Linked Companies To Deliver Strong Performance: Motilal Oswal

• IT, Internet, BPO, KPO Q3 Preview - Higher Furloughs, Projects Cancellations To Weigh On Growth: Dolat Capital

• Banks, Insurance Q3 Results Preview - Growth To Moderate; Remain Watchful On NIMs: Motilal Oswal