Stock Market Today: All You Need To Know Going Into Trade On Jan. 13

Asian stocks opened with tailwinds from easing inflationary pressure in the U.S. and expectations that central banks can slow the pace of interest rate hikes. U.S. stocks moved little while Treasury yields dropped as inflation figures moderated.

At 6:05 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was up 0.40% to 17,990.

Indian benchmark indices closed marginally lower after remaining under pressure through Thursday as market participants turned cautious ahead of India's retail inflation numbers.

Rupee appreciated against the U.S. dollar after a weak opening tracking the overall weakness in the currency.

Overseas investors in Indian equities were net sellers for the 15th day in a row on Thursday. Foreign portfolio investors offloaded stocks worth Rs 1,662.63 crore, while the domestic institutional investors mopped up stocks worth Rs 2,127.65 crore.

• HCL Technologies: The company has been selected by Mattel to drive transformation across the latter’s global technology landscape cutting across applications, infrastructure and information security domains.

• PVR/Inox Leisure: The Mumbai bench of NCLT approved the merger of the two companies.

• Rail Vikas Nigam: The company letter of approval for provision of automatic block signaling in Taduku-Renigunta section and replacement of EI/RRI at Taduku, Pudi and Sri Venkata Perumal Raju Puram stations of Chennai Division in Southern Railway for Rs 38.97 crore.

• Asian Paints: The company incorporated a subsidiary, Asian Paints (Polymers), with a share capital of Rs 100 crore to operate a manufacturing facility for vinyl acetate ethylene emulsion and vinyl acetate monomer in India.

• Rama Steel Tubes: The company signed an MoU with Uttar Pradesh government to set up a steel processing unit with a proposed investment of Rs 600 crore.

• Cigniti Technologies: The company Partners with LambdaTest to offer smart test orchestration platform that can help clients run end-to-end automation tests at faster speeds.

• Shyam Metalics: The company received consent to operate from Odisha government for additional pellet capacity of 1.2 MT at its plant in Sambalpur, Odisha.

• Larsen & Toubro/L&T Technology Services: L&T Technology Services, a subsidiary of Larsen & Toubro, will acquire smart world and communication business of its parent company for Rs 800 crore.

• Linde: The company started construction of its new air separation plant in Ludhiana, Punjab, which is expected to start operations towards the end of 2023.

• V-Guard Industries: The company completed the acquisition of 100% shareholding of Sunflame Enterprises for an aggregate consideration of Rs 680.33 crore.

Wipro, L&T Finance Holdings, Just Dial, Choice International, Ganesh Housing Corporation, Rajnish Wellness, Raghav Productivity Enhancers

• Infosys Q3 FY23 (Consolidated QoQ)

Revenue rose 4.8% at Rs 38,318 crore vs Rs 36,538 crore (Bloomberg estimate: Rs 37,963 crore)

EBIT rose 4.69% at Rs 8,242 Vs Rs 7,873 crore (Bloomberg estimate: Rs 8,263 crore)

EBIT margin flat at 21.5 vs 21.5% (Bloomberg estimate: 21.8%)

Net profit rose 11.33% at Rs 6,586 crore vs Rs 5,916 crore (Bloomberg estimate: Rs 6,465 crore)

• HCL Technologies Q3 FY23 (Consolidated QoQ)

Revenue rose 8.16% at Rs 26,700 crore vs Rs 24,686 crore (Bloomberg estimate: Rs 26,089 crore)

EBIT rose 18.1% to Rs 5,228 crore vs Rs 4,427 crore (Bloomberg estimate: Rs 4,827 crore)

EBIT margin up at 19.58% vs 17.93% (Bloomberg estimate: 18.5%)

Net profit up 17.46% at Rs 4,096 crore vs Rs 3,487 crore (Bloomberg estimate: Rs 3,814 crore)

The board approved interim dividend of Rs 10 per share.

• Den Networks Q3 FY23 (Consolidated QoQ)

Revenue fell 4% to Rs 276.90 crore vs Rs 287.30 crore

EBITDA fell 1% to Rs 37.41 crore vs Rs 37.73 crore

EBITDA margin declined to 13.5% vs 13.1%

Net profit rose 3% to Rs 49.02 crore vs Rs 47.51 crore

• GTPL Hathway Q3 FY23 (Consolidated QoQ)

Revenue rose 5% at Rs 685.63 crore vs Rs 654.98 crore

EBITDA down 15% at Rs 112.1 crore vs Rs 131.32 crore

EBITDA margin at 16.3% Vs 20%

Net profit fell 18% at Rs 37.57 crore vs Rs 45.89 crore

• Bajaj Finserv: Bajaj Sevashram bought 4.27 lakh shares (0.05%), Risabh Family Trust sold 4.27 lakh shares (0.05%) at Rs 1,395 apiece.

• One97 Communications: Morgan Stanley Asia (Singapore) ODI bought 54.95 lakh shares (0.85%) at Rs 534.8 apiece, Ghisallo Master Fund bought 49.80 lakh shares (0.77%) at Rs 534.8 apiece, Alibaba.com Singapore E-Commerce sold 1.92 crore shares (2.96%) at Rs 536.95 apiece.

• IndiaMART InterMESH: To meet analysts/investors on Jan. 20.

• Bank of Maharashtra: To meet analysts/investors on Jan. 16.

• Magellanic Cloud: To meet analysts/investors on Jan. 17.

• Federal Bank: To meet analysts/investors on Jan. 16.

• Central Bank of India: To meet analysts/investors on Jan. 18.

• Hindware Home Innovation: To meet analysts/investors on Jan. 13.

• Aegis Logistics: To meet analysts/investors on Jan. 13.

• Satia Industries: To meet analysts/investors on Jan. 13.

• Ex-Date Stock Split: Vishnu Chemicals

• Move Out Of Short-Term ASM Framework: Universal Cables, GIC Housing Finance, BF Investment and SML Isuzu

• Rupee closed 0.03% higher against the U.S. dollar at 81.55 on Thursday, compared to Wednesday’s close of 81.58.

• Nifty January futures ended at 17,924.50, a discount of 38.45 points.

• Nifty January futures rose 1.42% and 3,262 shares in Open Interest.

• Nifty Bank January futures ended at 42,230.15, a premium of 163.20 points.

• Nifty Bank January futures fell 0.83% and 687 shares in Open Interest.

• Securities added to the ban period: Gujarat Narmada Valley Fertilizers & Chemicals and Indiabulls Housing Finance

• Securities removed from the ban period: Nil

• Star Health - Value-Accretive Business Strategy: Anand Rathi Initiates Coverage

• Mahindra CIE Automotive - On Course Toward Better RoCE: ICICI Securities

• Gujarat Gas - Sunshine After The Storm: Motilal Oswal

• Garden Reach Shipbuilders - Execution Picking Up; Strong Growth Ahead: ICICI Direct Initiates Coverage

• Midcaps Q3 Results Preview - Specialty Chemicals Likely To Deliver A Mixed Performance: Nirmal Bang

• FMCG, Retail Q3 Results Preview - Margins To Lag Revenues In Both Staples, Discretionary: Systematix

• Oil & Gas Q3 Results Preview - Revival Seen For Upstream, Oil Marketing Companies: ICICI Direct

• Metals Q3 Results Preview - China Opening, USD Peaking To Support Base Metals, Steel Prices: Axis Securities

• Automobiles Q3 Results Preview: Commercial Vehicles Could Outperform: HDFC Securities