Stock Market

Stock Market LIVE: Indices turn flat; FMCG, Pharma, Auto shed; IT shines

The US CPI is expected to show December’s headline inflation at 6.5% versus 7.1% in November, which might give the Fed a reason to be less concerned about inflation. Meanwhile, the World Bank slashed its growth forecasts for most countries and warned that new adverse shocks could tip the global economy into a recession.

11 Jan 2023, 01:10:54 PM IST

1:5 stock split: ₹1 lakh turns to ₹87 lakh in 7 years. Do you own?

A long-term investor enjoys some extra return over a short-term investors as listed companies announce various rewards for their loyal investors. A company announces such rewards from its capital reserves and the form of reward can be a buyback of shares, dividend (whether interim, final or special), issuance of bonus shares, etc. To understand how these rewards can be an attractive offer for a long-term investor, one needs to look at R & B Denims share price history. In last seven years, this small-cap stock has risen from 2.25 to 39 apiece levels, clocking more than 1600 per cent rise in this period. However, there is a catch. the small-cap stock has traded ex-split in October 2021.

The small-cap stock traded ex-split on 28th October 2021 in the ratio of 1:5. This means, a shareholders of one stock became five after the stock split as the company went for subdivision of its shares from the face value of 10 per equity share to 2 per equity share. (Read More)

11 Jan 2023, 12:45:48 PM IST

FMCG index drags as it sheds a per cent with most stocks in red

FMCG

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FMCG
11 Jan 2023, 12:41:31 PM IST

Tata Group reviews Super App strategy as sales may miss target by 50%

Tata Group’s ambitious super app is expected to meet just half of the sales target in its debut year, forcing the sprawling Indian corporate to review its digital strategy, people familiar with the matter said.

Tata Digital Pvt.’s online platform, Tata Neu, which went live in April, will see sales of about $4 billion in the year to March 31 compared with the $8 billion target set at the beginning of 2022, the people said, asking not to be named as the information is not public. The company, helmed by Chief Executive Officer Pratik Pal, is overhauling the strategy to scale up the business profitably, they said. (Read More)

11 Jan 2023, 12:35:35 PM IST

Yes Bank share price retraces 20% from 52-week high. Buy, sell or hold?

Yes Bank shares recently made a 52-week high of 24.75 apiece on 13th December 2022. However, after ascending to this peak, Yes Bank share price has remained an ideal ‘sell on rise’ stock on Dalal Street. Yes Bank share price today continues to attract bears and made its intraday low of 20.05 per share, clocking near a 3 per cent intraday loss in early morning deals. However, if we compare Yes Bank stock price today with its 52-week high, the stock has retraced to the tune of nearly 20 per cent in nearly one month.

According to stock market experts, the stock is expected to remain range bound till March 2023 as the three-year lock-in for leading banks like IDFC First Bank, Axis Bank, Kotak Mahindra Bank, etc. is ending this March. So, the market is buzz about profit booking by these private lenders as Yes Bank share price has almost doubled in last three years and after the end of the lock-in period, these banks may think of profit booking in March 2023 (may be partially if not fully). (Read More)

11 Jan 2023, 12:12:39 PM IST

PL Stock Report – Bank of Baroda (BOB IN): BUY – Scaling new heights

Bank of Baroda (BOB IN) – Gaurav Jani – research analyst, Prabhudas Lilladher Pvt Ltd: Rating: BUY | CMP: Rs181 | TP: Rs220

Company Update – Scaling new heights

We remain positive on Bank of Baroda (BOB) given, 1) domestic corporate credit is reviving as growth touched an 8-yr high of +13% YoY and BoB would be a key beneficiary as corporate loan share is ~40% and market share in overall advances is sizeable at 6.6% post-merger 2) BOB could see NIM expansion for 1-2 more quarters while private bank margins might peak in Q3FY22, due to higher share of MCLR linked loans (53% vs 30% for private banks) 3) balance sheet is stronger as GNPA in Q2FY23 reduced to 5.3% from 8.1% while PCR enhanced from 67% to 79%; expect RoA/RoE to improve over FY22-25E from 0.6%/9.6% to 0.9%/14.7%. We had recently raised FY23E earnings by 8% for BoB, however, with asset quality risks abating and steady credit growth outlook, there is likelihood of further earnings upgrade. Rolling forward to Mar’25 ABV, we raise multiple from 1.0x to 1.1x and maintain TP at Rs220. Reiterate ‘BUY’.

11 Jan 2023, 12:04:02 PM IST

Rekha Jhunjhunwala buys more shares of this financial stock in Q3

Indian ace investor Rekha Jhunjhunwala has increased her stake in the portfolio stock Geojit Financial Services by more shares of the financial services provider during the third quarter ended December 2022 of the current fiscal (Q3 FY23).

As per the recent shareholding pattern on the BSE, Rekha Rakesh Jhunjhunwala holds 8.38% stake or 2,00,37,500 equity shares during the October-December 2022 period, which is higher than 7.54% stake or 1,80,37,500 shares that her late husband Jhunjhunwala Rakesh Radheshyam had held as of September 2022 quarter (Q2), as per the exchange data. (Read More)

11 Jan 2023, 12:02:00 PM IST

Amidst high volatility, Indices manage to stay in a flat-to-green zone with Sensex trading 80 pts higher and Nifty 5 pts 

Sensex at Noon

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Sensex at Noon
11 Jan 2023, 11:55:59 AM IST

B2C e-commerce startups fastest to achieve unicorn status, says PwC India report

E-commerce firms operating in the business-to-consumer (B2C) space are the quickest to churn out unicorns, while those in the online gaming and software-as-a-service (SaaS) industry take almost a decade to touch the $1 billion valuation mark, according to PwC’s CY22 Start-up Perspectives report. (Read More)

11 Jan 2023, 11:39:33 AM IST

Sebi brings clarity on passive ELSS launch procedure

Mutual funds in India can launch passive equity-linked savings scheme (ELSS) but only after the closure of the existing actively-managed ELSS fund for subscription, markets regulator Securities and Exchange Board of India or Sebi said in a circular.

The fund house must stop all fresh inflows, including systematic investment plans and systematic transfer plans to the actively managed ELSS scheme. (Read More)

11 Jan 2023, 11:36:39 AM IST

Sun Pharma shines in today’s trading as it gains 1%

Sun Pharma

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Sun Pharma
11 Jan 2023, 11:24:40 AM IST

SC agrees to hear plea of Google against NCLAT order

The Supreme Court on Wednesday agreed to hear a plea of US tech giant Google against an order of the National Company Law Appellate Tribunal (NCLAT) refusing an interim stay on the competition regulator imposing a 1,337 crore penalty on it .

A bench comprising Chief Justice DY Chandrachud and Justice P S Narasimha took note of the submissions of senior advocate A M Singhvi, appearing for the US firm, and said that it will list the plea for hearing on Monday.

The senior lawyer said that extraordinary directions have been passed by the Competition Commission of India (CCI) and the order has to be complied by January 19.

“There is no finding of abuse of dominance,” he said.

The NCLAT, on January 4, had refused an interim stay on an order of the competition regulator imposing a 1,337 crore penalty on Google and had asked it to deposit 10 percent of the amount. (PTI)

11 Jan 2023, 11:10:02 AM IST

Multibagger SME IPO jumps 550% in 4 month. Declares bonus shares, stock split

The initial public offering (IPO) of Rhetan TMT Ltd was launched in August 2022 and the Rhetan TMT shares were listed on the BSE SME exchange on 5th September 2022 at 70 apiece level, exactly at its price band of 70 per equity share. However, it ended at 66.50 apiece level, below its price band. But, those allottees who remained invested in the stock backing their conviction, have got strong returns in the last four months of its listing. Rhetan TMT share price today is 447 per share, around 540 per cent higher than its issue price of 70 per equity share. (Read More)

11 Jan 2023, 11:07:07 AM IST

Auto Index sheds as most stocks are trading lower in today’s session

Auto Index

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Auto Index
11 Jan 2023, 10:39:23 AM IST

Adani Wilmar up about 3% on strong Q3 volume growth; expert advises ‘hold’

The Adani Wilmar share price was up about 3% in early trade on January 11 after posting healthy volume growth for the quarter ended December 31. The stock opened higher at 584 and continued to gain to hit day’s high of 596 in early morning trade.

Adani Wilmar saw strong volume growth across all segments in the quarter. As per the regulatory filing, Adani Wilmar posted high-single-digit growth in edible oil volumes, while the growth was in low-single digit in value terms in Q3FY23. (Read More)

11 Jan 2023, 10:23:36 AM IST

Axis Securities Sector Preview of Consumer Durables & Metals 

Consumer Durables Q3FY23 PREVIEW: TEPID SENTIMENTS LEAD TO MODERATE DEMAND

We would watch out for management commentaries on a) Channel inventory in the system given the volatility of RM prices; b) The impact of Rupee depreciation on margins; c) Market share gains vs. unorganized players (for Polycab India and Sheela Foam); d) Any impact on supply-chain given increased COVID-19 cases across countries; e) Updates on production under the PLI schemes (for Dixon Technologies and Amber Enterprises). We would also closely monitor commentary on international subsidiaries and their performance (especially Symphony and Sheela Foam) as well as export opportunities going forward.

OUR TOP PLAYS

Positive: Polycab India, Dixon Technologies

Negative: Symphony Ltd

Metals: CHINA OPENING AND USD PEAKING MAY PROVIDE SUPPORT TO BASE METALS AND STEEL PRICES

Steel Q3FY23 Preview – Margins to recover from a trough of Q2FY23

Aluminium Q3FY23 Preview – Margins to compress on lower average LME

Our Top Positive Plays: APL Apollo tubes, Hindalco, and Tata SteelAluminium and higher energy costs

 

 

11 Jan 2023, 10:13:37 AM IST

Hindalco stock has a strong start as it gains 2% in early trading

Hindalco

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Hindalco
11 Jan 2023, 10:12:07 AM IST

SBI shares a ‘good structural bet’, other 2 PSU bank stocks near-term bets: Brokerage

PSU banks outperformed Bank Nifty by 46%/107% over the last 1/2 years driven by improving loan growth, expanding net interest margins (NIMs) and improving asset quality, highlighted domestic brokerage and research firm Ambit.

“Moreover, most PSBs are losing market share in loans/deposits/payments and their asset quality performance during Covid does not indicate structural improvement in under-writing capabilities. That said, higher liquidity buffers and a floating rate loan book should benefit PSBs in the short term in maintaining loan growth/NIMs. Also, a benign asset quality cycle should keep credit costs low. Combining short-term earnings drivers and structural strength of the franchise, State Bank of India (SBI), Bank of Baroda (BOB) and Bank of India (BOI) are better placed PSBs,” the note stated. (Read More)

11 Jan 2023, 10:07:59 AM IST

Reliance Capital lenders vote for second round of auction on 16 January

Lenders to Reliance Capital on Tuesday unanimously voted to restart the bidding process to auction the bankrupt company, two officials familiar with the matter said. The auction will be conducted with a base price of 9,500 crore, including upfront cash of 8,000 crore. The voting, which started on Monday, ended on Tuesday afternoon. The auction may be conducted on 16 January.

The decision also offers other initial bidders, including the Cosmea-Piramal consortium and Oaktree Capital, a new chance to revise bids. However, lenders said both these bidders, who had exited the race in the first round itself, are unlikely to bid higher. (Read More)

11 Jan 2023, 09:58:43 AM IST

IT Index gains in early trading as all stocks are trading higher 

IT Index

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IT Index
11 Jan 2023, 09:39:16 AM IST

Geojit Financial Services on today’s market: Higher valuations in India and attractive valuations in markets like China are nudging the FIIs to sell in India and move money to cheaper markets

Dr V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services: The biggest drag on the market in the near term is the sustained selling by FIIs for thirteen continuous sessions, which has taken the cumulative cash market selling to 16587 crores. Higher valuations in India and attractive valuations in markets like China are nudging the FIIs to sell in India and move money to cheaper markets. Even though this is a short-term challenge, this can also turn out to be an opportunity for long-term investors. Last year, too, FIIs sold heavily in early months and DIIs/ retail, who absorbed all FII selling, made big profits when the market recovered. Bank stocks are down due to FII selling, but the segment is doing well and Q3 results will be good. The market will respond to the results.

11 Jan 2023, 09:34:21 AM IST

Bharti Airtel comes under pressure in early trading as it sheds more than 3%

Bharti Airtel

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Bharti Airtel
11 Jan 2023, 09:33:25 AM IST

World’s biggest ship skips India in blow to its trade goals

Prime Minister Narendra Modi’s goal of making India the world’s factory risks being held back by the country’s inability to attract bigger container ships due to inadequate port infrastructure.

Most harbours along India’s coast aren’t deep enough to handle vessels like the Ever Alot, the world’s largest boxship at 400 meters long and with a capacity of more than 24,000 twenty-foot equivalent units. Neighboring Sri Lanka, as well as Malaysia, have in recent months received visits from the Ever Alot, which can rival the Empire State Building in length.

India’s biggest state-run container handling facility, Jawaharlal Nehru Port Trust, lacks the 17-meter draft needed for such vessels to navigate. One facility that has said it can handle the behemoth — Mundra Port, operated by billionaire Gautam Adani’s conglomerate — has so far been skipped. The 17,292-TEU APL Raffles is the biggest vessel to have berthed there, in January 2022 with 13,159 TEUs on board. (Read More)

11 Jan 2023, 09:21:59 AM IST

Indices opened in red as Sensex went below 60,000 and Nifty 30 pts lower 

Sensex at Open

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Sensex at Open
11 Jan 2023, 09:07:40 AM IST

Budget 2023: ‘Expect higher allocation for rural spending this year’

Budget 2023 is just around the corner and given that it is the last full budget before 2024 Lok Sabha elections, expectations from the government are running high. While the middle salaried class is expecting some relaxation in income tax slabs, senior citizens want the minimum tax slab to be raised.

A wide expectation from the PM Modi-led government is to continue on the path of fiscal prudence while focusing on infrastructure development.

Prabhudas Lilladher in a recent report said it expects higher allocation for rural spending which includes MNREGA, food security and rural infra, PM Awas, piped water and sanitation, which will improve employment, rural incomes and rural demand. (Read More)

11 Jan 2023, 09:03:53 AM IST

Sensex remains flat at the preopen session; Adani Ports, Tata Motors, NTPC in focus in today’s session

Sensex at Preopen

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Sensex at Preopen
11 Jan 2023, 08:58:56 AM IST

Apple to Begin Making In-House Screens in 2024 in Shift Away From Samsung

Apple Inc. is planning to start using its own custom displays in mobile devices as early as 2024, an effort to reduce its reliance on technology partners like Samsung and LG and bring more components in-house.

The company aims to begin by swapping out the display in the highest-end Apple Watches by the end of next year, according to people with knowledge of the matter. The screens upgrade the current OLED — organic light-emitting diode — standard to a technology called microLED, and Apple plans to eventually bring the displays to other devices, including the iPhone.

The changes are part of a sweeping effort to replace Apple supplies with homegrown parts, an undertaking that will give the company more control over the design and capabilities of its products. The tech giant has dropped Intel Corp. chips in its Mac computers in favor of in-house designs and plans to do the same with the key wireless components in its iPhones. (Bloomberg)

11 Jan 2023, 08:43:21 AM IST

Reliance Securities Stock in Focus for Today: Tata Motors 

STOCK IN FOCUS

Tata Motors (CMP 413) – Recent JLR’s volume performance and company’s indication of GBP400mn+ positive cash flow at JLR in 3QFY23 turns around investor sentiment and increase confidence on company’s business and management capabilities. In view of expected recovery of JLR’s global business with likely ease on semiconductor supply in subsequent quarters and strong order book, turnaround of PV business post restructuring of domestic business and strong domestic CV up-cycle, we have a BUY rating on TTMT with the SOTP based the Target Price of Rs575, valuing the business at Rs684 and excluding the net debt of Rs109/share.

Intraday Picks

TECHM (PREVIOUS CLOSE: 1,003) BUY

For today’s trade, long position can be initiated in the range of Rs995-

1000 for the target of Rs1025 with a strict stop loss of Rs987.

CUMMINSIND (PREVIOUS CLOSE: 1,449) SELL

For today’s trade, long position can be initiated in the range of Rs1460-

1470 for the target of Rs1428 with a strict stop loss of Rs1488.

TATACHEM (PREVIOUS CLOSE: 969) BUY

For today’s trade, long position can be initiated in the range of Rs960-

966 for the target of Rs987 with a strict stop loss of Rs954.

 

11 Jan 2023, 08:39:47 AM IST

Indiabulls Housing Finance, GNFC stocks under F&O ban on NSE today

A total of two stocks have been put under the ban for trade on Wednesday, January 11, 2023 under the futures and options (F&O) segment by the National Stock Exchange (NSE). These securities have been put on ban under the F&O segment as they have crossed 95% of the market-wide position limit (MWPL), as per the NSE.

Indiabulls Housing Finance and Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) are the stocks that continue to be a part of the F&O ban list for today. The NSE updates the list of securities in F&O ban for trade every day. (Read More)

11 Jan 2023, 08:33:13 AM IST

Bitcoin trades above $17,000; Shiba Inu surges 6%. Check cryptocurrency prices today

In cryptocurrencies, Bitcoin price today gained with the world’s largest and most popular digital token trading with gains of nearly 2% at $17,429. Overall, the global cryptocurrency market cap today remained below the $1 trillion mark, even as it was up nearly a per cent in the last 24 hours to $893 billion, as per the data by CoinGecko.

“Bitcoin saw a significant increase in value as it broke through an important resistance level at $17,400 on Tuesday. The rally occurred over the weekend, which propelled the price past this key level. This spike in value could be attributed to the accumulation of whales in the past two days. If bitcoin can maintain this upward momentum, it could potentially reach the resistance level of $17,500 by the end of the week. Ethereum, after a successful implementation of Merge, it is now gearing up for the launch of the Shanghai public testnet in February, which will improve its ability to process high-volume transactions while also reducing costs,” said Edul Patel CEO & Co-Founder, Mudrex. (Read More)

11 Jan 2023, 08:30:16 AM IST

Stocks to Watch: NTPC, Adani Ports, Tata Motors, Axis Bank, Adani Wilmar, Kotak Bank, Coal India, Bharti Airtel, Lupin, and KMC Specality Hospitals

Sanginita Chemicals, Sanathnagar Enterprises and 5paisa Capital will be among the stocks in focus as they declare their December quarter earnings today. (Read More)

11 Jan 2023, 08:10:46 AM IST

Tata Motors acquires Ford India’s manufacturing unit in Gujarat

Tata Motors has completed the acquisition of Ford India’s manufacturing plant at Sanand through its subsidiary, the company informed on Tuesday. Last year, the company informed about the acquisition noting Tata Passenger Electric Mobility Ltd (TPEML) would acquire Gujarat-based Ford India Pvt Ltd’s (FIPL) for 725.7 crore.

With the fulfilment of the necessary conditions, including receipt of relevant regulatory approvals, the parties have completed the transaction and TPEML has acquired the Sanand property and the vehicle manufacturing plant and machinery, Tata Motors said in a regulatory filing. (Read More)

11 Jan 2023, 08:03:19 AM IST

Adani Wilmar records strong volume growth across segments in Q3; to drive sales in HoReCa ahead

Adani Group-backed consumer food company, Adani Wilmar has witnessed yet another healthy quarter for the period ending December 31, 2022. The FMCG player saw strong volume growth across all segments in the quarter. Going ahead, the company plans to develop its operating model in HoReCa (Hotels, Restaurants, Caterers) segment to drive sales.

As per the regulatory filing, Adani Wilmar posted high-single-digit growth in edible oil volumes, while the growth was in low-single digit in value terms in Q3FY23. (Read More)

11 Jan 2023, 07:59:57 AM IST

NTPC produces 14.55 MT coal from captive mines in Apr-Dec

State-owned NTPC on Tuesday said its coal production increased 51 per cent year-on-year from its captive mines to 14.55 million tonne (MT) in April-December 2022.

The power giant had produced 9.65 MT of coal from its captive coal mines in the year-ago period, NTPC said in a statement.

“Coal mining division of NTPC is maintaining its growth trajectory. NTPC surpassed its earlier record with coal production of 14.55 MT till December 2022 in this fiscal compared with 9.65 MT in the same period of the previous year,” it added.

The four operational coal mines — Pakri-Barwadih (Jharkhand), Chatti-Bariatu (Jharkhand), Dulanga (Odisha) and Talaipalli (Chhattisgarh) — have contributed to accomplish the highest-ever monthly coal production of 22.83 lakh tonnes in December 2022. (PTI)

11 Jan 2023, 07:56:17 AM IST

Buy or sell: Vaishali Parekh recommends 2 stocks to buy today

Vaishali Parekh has recommended two day trading stocks for today, here we list out full details in regard to those intraday stocks for today:

1] Coromandel International: Buy at 901, target 935, stop loss 890; and

2] Tata Consumer: Buy at 769, target 790, stop loss 760. (Read More)

11 Jan 2023, 07:46:08 AM IST

APSEZ, Israel’s Gadot Group complete acquisition of Haifa Port Company

Adani Ports and Special Economic Zones (APSEZ) on Tuesday said the consortium of APSEZ and Israel’s Gadot Group (Gadot) has completed the acquisition of Haifa Port Company Ltd (HPC) from the government of Israel.

APSEZ in a statement said that the consortium had won the bid for HPC on July 22, 2022.

“On July 15, 2022, we announced that the consortium of Adani Ports and Gadot Group (with 70:30 shareholding) had won the competitive bid for the privatisation of HPC at an offer price of NIS 4.1 Bn, equivalent to USD 1.18 Bn.

“The concession period of the port is up to 2054,” it said.

Adani Ports and Special Economic Zone, the flagship transportation arm of the diversified Adani group, is India’s largest private ports and logistics company. (PTI)

11 Jan 2023, 07:36:16 AM IST

Sah Polymers IPO: What GMP reflects ahead of share listing date

After the announcement of share allocation, allottees and market observers are eagerly waiting for Sah Polymers IPO listing date, which is most likely on 12th January 2023. However, official confirmation in regard to Sah Polymers’ share listing date is still awaited. But, before hitting secondary markets, Sah Polymers’ share price has surged in the grey market today. According to primary market observers, shares of Sah Polymers are available at a premium of 7 in grey market today. (Read More)

11 Jan 2023, 07:30:27 AM IST

World Bank warns global economy could easily tip into recession in 2023

The World Bank slashed its 2023 growth forecasts on Tuesday to levels teetering on the brink of recession for many countries as the impact of central bank rate hikes intensifies, Russia’s war in Ukraine continues, and the world’s major economic engines sputter.

The development lender said it now expected global GDP growth of 1.7% in 2023 — the slowest pace outside the 2009 and 2020 recessions in nearly three decades. In its previous Global Economic Prospects report, in June 2022, the bank had forecast 2023 global growth at 3.0%.

The bank said major slowdowns in advanced economies, including sharp cuts to its forecast to 0.5% for both the United States and the euro zone, could foreshadow a new global recession less than three years after the last one. (Read More)

11 Jan 2023, 07:29:23 AM IST

US among top buyers of Indian refined petroleum products

The US emerged as a top destination for refined petroleum products from India in November, much of it processed from Russian crude oil imported at a discount. According to data from the commerce ministry, Russia exported crude oil worth $3.08 billion in November to India, making it the second-largest exporter to India after Saudi Arabia.

Meanwhile, the US imported oil products worth $588 million in November, raising imports to the highest levels this fiscal. Experts said that the imports increased amid the high demand for crude ahead of the US holiday season. (Read More)

11 Jan 2023, 07:28:22 AM IST

Stocks tick higher on Wall Street on Tuesday as inflation report looms

Stocks ticked higher in quiet trading on Wall Street Tuesday, ahead of some potentially market-moving reports scheduled for later in the week.

The S&P 500 rose 27.16 points, or 0.7%, to 3,919.25 after drifting between small gains and losses through the day. The Dow Jones Industrial Average gained 186.45, or 0.6%, to 33,704.10, and the Nasdaq composite climbed 106.98, or 1%, to 10,742.63.

The stock market has had a positive start to 2023 due to hopes that cooling inflation and a slowing economy may convince the Federal Reserve to ease off its markets-shaking hikes to interest rates. The Fed since early last year has been raising rates at a furious pace in hopes of getting the nation’s painful inflation under control. Such moves risk causing a recession and hurt investment prices.

Investors were hoping for some clues about where the Fed is heading from its chair, Jerome Powell, who made remarks at a forum in Stockholm on Tuesday. But he gave little news about rates.

The next big marker for the market is likely Thursday’s update on how bad inflation was last month at the consumer level. Economists expect it to show U.S. inflation slowed further to 6.5% from 7.1% in November and from a peak of more than 9% in the summer. (AP)


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