Australian stocks were steady on their first trading day of the year after European shares rallied Monday, shaking off some of the tumult of 2022.
Indian stocks are likely to follow domestic cues and China's Covid fallout as the U.S. markets were closed on Monday, the New Year's Day.
At 5:29 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was up 0.35% to 18,286.
Domestic indices—Sensex and Nifty—inched up to close with marginal gains on the first trading session of the year after opening flat.
The rupee had a poor start to the year as it closed marginally lower against the U.S. dollar amid surge in crude prices and continuous foreign fund outflows.
Overseas investors started the year by net selling stocks worth Rs 211 crore. This was the seventh session of foreign outflows. Foreign portfolio investors off loaded equities worth Rs 212.57 crore, while domestic institutional investors bought equities worth Rs 743.35 crore, as per NSE.
Among global assets, Bitcoin was trading 0.65% higher around $16,700-level.
Stocks To Watch
Zee Entertainment Enterprises: The company will contest the insolvency plea by operational creditor Indian Performing Right Society over claims of Rs 211.42 crore.
Zomato: Gunjan Patidar, co-founder and chief technology officer of the company, resigned due to undisclosed reasons.
Maruti Suzuki: The production volumes of the company in December declined almost 18% y-o-y to 1.25 lakh units in December.
SBI/ICICI Bank/HDFC Bank: The Reserve Bank of India marks these three banks in its list of domestic systematically important banks.
Dabur India: The company completed acquisition of 51% shareholding of Badshah Masala pursuant to the share purchase agreement and shareholders agreement with the latter's promoters and shareholders.
ONGC: The company's Sagar Samrat offshore drilling rig, which has been commissioned as a mobile offshore production unit, started oil and gas production in Arabian Sea.
HFCL: The company and its subsidiary HTL have received an order worth Rs 95.38 crore from Reliance Projects & Property Management Services for supply of optical fiber cables.
Birlasoft: Chandrasekar Thyagarajan, chief financial officer of the company, has resigned due to personal reasons, effective Feb. 2, 2023.
PSP Projects: The company has won the bidding process for construction of high-rise office building for Surat Municipal Corporation for Rs 1,364.47 crore.
MOIL: The company registered 18% sequential increase in production at 1.41 lakh tonne, and 91% rise in sales at 1.64 lakh tonne in December 2022.
L&T Technology Services: The board will meet on Jan. 19 consider and approve the financial results for quarter ended December 2022.
Angel One: The board will meet on Jan. 16 to consider and approve financial results for three months to Dec. 31, 2022 and the third interim dividend for the current fiscal.
Hindustan Zinc: Business Updates For Quarter Ended Dec. 31, 2022 (Y-o-Y)
Gross advances increased 18% to Rs 70,168 crore.
The mined metal quantity increased 1% to 2.54 lakh tonnes.
Wind power production decreased 15% to 50 million units.
South Indian Bank: Business Updates For Quarter Ended Dec. 31, 2022 (Y-o-Y)
Gross advances increased 18% to Rs 70,168 crore.
CASA increased 9% on-year to Rs 30,699.
CASA ratio improved 189 basis points to 33.84%.
Karnataka Bank: Business Updates For Quarter Ended Dec. 31, 2022 (Y-o-Y)
Gross advances increased 12.37% to Rs 63,658.59 crore.
CASA increased 9.5% to 26,991.74 crore.
Indian Bank: The bank increased lending rates by up to 25 basis points, effective Jan. 3.
Ashapura Minechem: The board approved issue upto 40,40,000 warrants to the promoter group members viz. Manan Shah and Ashapura Industrial Finance, on preferential basis.
Likhitha Infra: Company received orders worth Rs 120 crore from various oil and gas distribution companies during the October-December quarter.
Mahindra & Mahindra Financial Services Updates For Quarter Ended Dec. 31, 2022 (Y-o-Y)
Disbursement growth of 22% QoQ.
Business assets rose 20% YoY to Rs 770 bn, a tad softer than Jefferies estimates.
Collection efficiency was stable year-on-year at 95%.
Asset quality usually seasonally improves in Q3 as per Jefferies.
CSB Bank Updates For Quarter Ended Dec. 31, 2022 (Y-o-Y)
Advances grew 5.6% QoQ & 26% YoY to Rs. 18,643 Cr
Gold advances grew 9% QoQ & 51% YoY to Rs. 8,772 Cr
Gold mix now at 47% vs YoY 39%
Non Gold advances grew 2% QoQ & 10% YoY to Rs. 9,871 Cr
Deposits grew 8% QoQ & 19% YoY
CASA came at 31.4% vs QoQ 34.3% & YoY 34.6%
Safari Industries (India) Co: Unit commenced additional commercial production and manufacturing of luggage at Halol factory, Gujarat.
Price Band Revised From 20% To 10%: GRM Overseas, Southern Petrochemicals Industries Corporation
Ex-Date Interim Dividend: Shriram Finance
Move Into Short-Term ASM Framework: GRM Overseas, Southern Petrochemicals Industries Corporation, Shree Global Tradefin
Move Out Of Short-Term ASM Framework: Prime Focus
Bajaj Finserv: Promoter group Jamnalal Sons bought 6.52 lakh shares, promoter group Bajaj Sevashram bought 4.93 lakh shares, promoter group Rishab Family Trust Rajivnayan Bajaj sold 6.52 lakh shares, promoter group Rishab Family Trust Rajivnayan Bajaj sold 11.45 lakh shares between Dec. 27 and 28.
Indo Rama Synthetics: Promoter group Devang Kumar sold 64,796 shares on Dec. 30.
Bajaj Holdings & Investment: Promoter group Bajaj Sevashram purchased 72,826 shares between Dec. 29 and 30.
Apcotex Industries: Promoter group Jareepa Trading LLP sold 1,100 shares on Dec. 30.
Vaibhav Global: Promoter group Brett Enterprises purchased 4,000 shares on Dec 30.
Sobha: Promoter Puthan NC Menon purchased 18,000 shares on Dec. 30.
GNA Axles: Promoter and director Gurdeep Singh purchased 2,260 shares, promoter group Loveleen Kaur purchased 3,100 shares, promoter group Manjot Seehra purchased 3,800 shares between Dec. 27 and 28.
Emami: Promoter group Suraj Finvest pledged 90,000 shares on Dec. 29.
Steel Strips Wheels: Promoter group DHG Marketing created a pledge of 18 lakh shares on Dec. 31.
Mangalore Chemicals & Fertilizers: Promoter Group ZUARI AGRO CHEMICALS created a pledge of 20 lakh shares on Dec. 29.
Jindal Steel & Power: Promoter group Siddeshwari Tradex created a pledge of 21 lakh shares on Dec. 30.
Nifty January futures ended at 18,278.70, a premium of 71.85 points.
Nifty January futures rose 0.48% and 1,012 shares in Open Interest.
Nifty Bank January futures ended at 43,436.40, a premium of 270.50 points.
Nifty Bank January futures rose 0.87% and 754 shares in Open Interest.
Securities added to the ban period: Nil
Securities removed from the ban period: Nil
IT Services Q3 Results Preview - Seasonally A Weak Quarter: IDBI Capital
RACL Geartech - Strong, Profitable Growth Track Record: HDFC Securities Initiates Coverage
Vardhman Special Steels - Multiple Levers To Unlock Growth In Near-Term: HDFC Securities
Offerings
Sah Polymers: The IPO was subscribed 2.37% on its second day, with most demand coming from retail investors. The retail portion was subscribed 7.46 times. Meanwhile, the QIB portion was subscribed 39%, whereas the HNI portion was subscribed 2.94 times.
Who's Meeting Whom
Angel One: To meet investors and analysts on Jan. 16.
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