Markets in the Asia Pacific showed movement early in the day even as Wall Street bounced back from a five-day rout. In Australia, shares climbed by 0.4%, while Japan’s benchmark Nikkei 225 index dipped 0.75% to 39,557 in its first session after a prolonged holiday. South Korea’s Kospi was trading near 2,450, up 0.26%.

All three Wall Street indices closed on a positive note on Friday, with S&P 500 looking to snap its five-day losing streak. The broader index closed 1.26% higher at 5,942.47.

The tech-heavy Nasdaq Composite was up 1.77% at 19,621.68, whereas the 30-stock Dow Jones Industrial Average rose 0.80% to 42,732.13.

The NSE Nifty 50 and BSE Sensex snapped their two-day winning streak on Friday. However, the benchmarks rose for the second consecutive week. The Nifty 50 ended 199.60 points, or 0.83%, down at 23,989.05, and the Sensex ended 784.00 points, or 0.98%, down at 79,159.71.

Foreign portfolio investors turned net sellers on Friday and offloaded stocks worth approximately Rs 4,227.25 crore, according to provisional data from the National Stock Exchange. Domestic institutional investors have been buyers for 13 consecutive sessions and bought stocks worth Rs 820.60 crore.

The Indian rupee weakened by two paise to close at 85.78 against the US dollar.

The dollar showed mixed results against major currencies early on Monday, with the yen retreating slightly from its late-week gains, trading around 157 per dollar. The US Dollar Index stood at 109.01.

Crude oil prices extended their longest rally in over a year, driven by a positive sentiment across broader markets. International benchmark Brent hovered around $77 per barrel.

Spot gold prices was up 0.08% at $2,641.28.

Stocks To Watch

  • Dabur India: The company’s consolidated revenue is expected to register a low single-digit growth in the third quarter, anticipating a flattish operating profit growth.

  • RVNL: The company executed MoU with Visakhapatnam Port Authority for construction of internal flyovers to enhance the smooth evacuation of cargo and eliminate the eleven level crossings that are currently hindering the free flow of traffic at VPA.

  • Bank of Baroda: Total domestic deposits rose 9.23% year-on-year to Rs 11.66 lakh crore, while global advances grew 11.65% to Rs 11.71 lakh crore.

  • Vedanta: The company reported 3% year-on-year increase in aluminium production increased to 614 KT compared to 599 KT. Quarterly zinc international volumes grew by 12% year-on-year, while alumina production rose by 7% year-on-year. Additionally, total mined metal production saw a 12% year-on-year increase, and pig iron production recorded a 7% year-on-year growth.

  • JSW Energy: Central electricity regulatory commission did not adopt proposed tariff for battery energy storage systems project. They said that the proposed tariff did not align with the current market prices due to SECI’s delay in signing battery energy storage purchase agreement. The company is in the process of filing an appeal against the order.

  • Brigade Enterprises: The company signed a definitive agreement for a prime land parcel located in Bengaluru for developing a residential project spanning about 20 acres. The project will have a total saleable area of approximately 2.5 million square feet with a GDV of about Rs 2,700 crore and a total land cost of about Rs 630 crore through its subsidiary Ananthay Properties.

  • BASF India: The company has completed the transfer of its coating business to arm BASF India Coatings Pvt. for Rs 182 crore.

  • Marico: The company’s consolidated business delivered mid-teen revenue growth. Similarly, international business delivered broad based mid-teen constant currency growth, and is expecting modest operating profit growth on a year-on-year basis.

  • Bank of India: The lender reported a 13.3% year-on-year growth in total domestic deposits, which stood at Rs 6.8 lakh crore. Similarly, total domestic advances grew by 15% year-on-year, reaching Rs 5.5 lakh crore as against Rs 4.8 lakh crore in the previous year.

  • Dhanlaxmi Bank: The company reported a 5.07% year-on-year growth in total deposits to Rs 15,067 crore in the third quarter of this fiscal. Similarly, total business grew by 7.3% year-on-year, reaching Rs 26,443 crore while the bank’s gross advances rose by 10.3% year-on-year to Rs 11,376 crore.

  • DCX Systems: The company received export purchase order worth Rs 483 crores from Israel’s ELTA Systems to manufacture and supply of close-in weapon system module assemblies.

  • Utkarsh Small Finance Bank: The Reserve Bank of India has approved the amalgamation of Utkarsh CoreInvest with the bank.

  • UCO Bank: The company in reported a 7.03% year-on-year growth in total domestic deposits to Rs 2.7 lakh crore in quarter ending December. Similarly, total domestic advances grew by 18.8% year-on-year, reaching Rs 1.8 lakh crore and the bank’s CASA ratio stood at 37.96%.

  • JSW Infra: The company signed concession agreement with Railway Administration (Northern Railway), government of India for purchase of container train operator license or concession from Sical Multimodal and Rail Transport.

  • Indusind Bank: The company reported a 11% year-on-year growth in total deposits at Rs 4.1 lakh crore in the third quarter of this financial year. Similarly, total net advances grew by 12% year-on-year, reaching Rs 3.6 lakh crore while the bank’s CASA ratio stood at 34.9%.

  • Hindustan Foods: The company’s arm executed a business transfer agreement with MMG Enterprises and its promoter, for the acquisition of manufacturing facility of MMG situated in Odisha including all their components on a slump sale and going concern basis as per conditions set out in BTA. The company is engaged in the business of manufacturing, processing and packaging of bottled water.

  • RPG Life Sciences: An incident of fire occurred at manufacturing plant at Navi Mumbai, however no casualties were reported.

  • Kotak Mahindra Bank: Milind Nagnur, chief operating officer and chief technology officer resigned, effective from the close of business hours on Feb. 15.

  • Deep Industries: The company received letter of award from ONGC for charter hiring of one number of 100MT Workover Rig for a period of seven years for Assam Asset. The total estimated value of the said award is approximately Rs 90.70 crores.

  • Mahindra & Mahindra Financial Services: The company reported a 7% year-on-year increase in overall disbursements reaching 16,450 crore. While collection efficiency remained flat at 95%, business assets rose 18% year-on-year at Rs 1.14 lakh crore. The company’s stage-3 is estimated at about 3.9% and Stage-2 is estimated at around 6.3%.

  • Bajaj Housing Finance: The company reported assets under management grew by 26% year-on-year to approximately Rs 1.08 lakh crore. The loan assets stood at approximately Rs 95,550 crore.

  • L&T Finance: The company saw a 23% year-on-year rise in its retail loan book to Rs 92,200 crore. Retail disbursements jumped 4% to Rs 15,170 crore. The maximum loans were issued under the urban finance segment at Rs 6,520 crore.

  • Azad Engineering: The company approved fundraise of Rs 1,000 crore through issuance of equity shares and appointed Murali Krishna Bhupatiraju as MD.

  • Andhra Paper: The company informed that the operations of the manufacturing plant situated at unit Rajahmundry has been disrupted due to strike of the workers called by the Workers Trade Unions. The loss of production per day of strike is approximately 510 MT. 

  • Baazar Style Retail: The company reported 24% year-on-year rise in standalone revenue from operations at Rs 412 crore in quarter ended December. Sales per square feet per month stood at 879 and the total number of stores as of Dec. 31, stood at 199 up 30% year-on-year.

  • Nazara Technology: The company acquired 35.07% stake in Moonshine Technology for Rs 820 crore.

  • HDFC Bank: The lender’s third-quarter update revealed a strong performance across key metrics. Total advances grew by 3% year-on-year reaching Rs 25.42 lakh crore. Total deposits saw a significant increase of 15.8% YoY, rising to Rs 25.63 lakh crore. CASA deposits also grew by 4.4%, totaling Rs 8.72 lakh crore.

  • NTPC Green Energy: The company secured a 1,000 MW project in UPPCL’s solar power project auction at a tariff of Rs 2.56 per kWh.

  • KNR Construction: The company received letter of acceptance for work order worth Rs 198 crore.

IPO Offering

  • Standard Glass Lining Technology: The company will offer shares for bidding on Monday. The price band is set from Rs 133 to Rs 140 per share. The Rs 410.05-crore IPO issue is a combination of a fresh issue of Rs 210 crore and rest offer for sale.

Insider Trades

  • Star Cement: Promoter Laxmi Chamaria sold 50,000 shares on Dec. 12.

Pledge Share Details

  • Medplus Health Services: Promoter Madhukar Reddy Gangadi created a pledge for 19.18 lakh shares, Promoter Lone Furrow Investment created a pledge for 5 lakh shares between Dec. 30 and 31.

  • Wardwizard Innovations and Mobility: Promoter Yatin Sanjay Gupte created a pledge for 7.5 lakh shares on Dec. 31.

Who’s Meeting Whom

  • Patel Engineering: To meet Investors and analysts on Jan. 8.

  • Mahindra Logistics: To meet Investors and analysts on Jan. 8.

  • Barbeque Nation: To meet Investors and analysts on Jan. 8.

Trading Tweaks

  • Price band change from 2% to 5%: SMS Lifesciences India, Tera Software,

  • Price band change from 20% to 10%: JAI CORP

  • Ex/record demerger: ITC

  • Moving into ASM: Apollo Micro Systems.

  • Moving out of ASM: Borosil Renewables, Kernex Microsystems (India).

F&O Cues

  • Nifty January futures down by 0.86% to 24,092 at a premium of 88 points.

  • Nifty January futures open interest up by 1.48%.

  • Nifty Options Jan. 9 Expiry: Maximum call open interest at 26,500 and maximum put open interest at 21,850.

  • Securities in ban period: Manappuram Finance, RBL Bank.

Money Market

The Indian rupee weakened by two paise to close at 85.78 against the US dollar, after opening five paise weaker at 85.80 against the greenback on Friday.

This marked the ninth consecutive week of decline for the local currency. It had closed the preceding week, ended Dec. 27, at 85.75 against its American counterpart.

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