Stock Market Today: All You Need To Know Going Into Trade On Jan. 18

Asian markets headed for a mixed open on Wednesday as investors assessed the path for monetary tightening and prepared for potential policy tweaks from the Bank of Japan.

At 6:04 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was up 0.25% to 18,122.

U.S. stocks struggled to rise as earnings outlook and Fed’s prospective plans weighed on investor sentiments. The S&P 500 closed in the red for the first time in five days, while Nasdaq 100 eked out gains, up for a seventh day.

Meanwhile, the yield on 10-year Treasuries advanced three basis points to 3.53%. Crude price fell 0.5%, while gold declined 0.6%. Bitcoin rose 0.3% to trade around the $21,200-level.

Indian benchmark indices closed higher after opening with steady gains, with 17 out of 20 sectoral indices compiled by BSE ending in green.

Rupee continued to fall against the U.S. dollar tracking recovery in the greenback and firm crude prices.

Overseas investors in Indian equities turned net buyers on Tuesday. Foreign portfolio investors mopped up equities worth Rs 211.06 crore, while domestic institutional investors bought stocks worth Rs 90.81 crore on Jan. 17.

• ITC: The company will acquire 100% stake of Sproutlife Foods for a cash consideration. Initially, Rs 255 crore will be invested to acquire 47.5% stake till March 2025.

• Rail Vikas Nigam: The company has emerged as the lowest bidder for two projects by under Surat Metro Rail Project Phase-I and Ahmedabad Metro Rail Project Phase-II worth Rs 673.80 crore and 384.30 crore, respectively.

• Adani Enterprises/Ashok Leyland: The company has signed an agreement with Ashok Leyland and Canada’s Ballard Power for a pilot project to develop and launch hydrogen fuel cell electric truck in 2023.

• REC: The entire shareholding of WRSR Power Transmission with REC Power Development & Consultancy, a subsidiary of the company, has been transferred to Adani Transmission.

• Glenmark Pharmaceuticals: The company will divest select brands and sub-brands from its dermatology segment for India and Nepal territories to Eris Oaknet Healthcare for Rs 340.48 crore.

• Jammu & Kashmir Bank: The board will meet on Jan. 23 to consider raising Tier-I capital via employee stock purchase scheme.

• Coforge: Life Insurance Corporation increased its stake in the company to 5.03% from 4.98%.

• Adani Transmission: Operational Updates In Q3 FY23

- Sales improved 4% YoY to 2,165 million units against 2,077 million units a year ago.

- The company added 371 ckms to operational network.

- Distribution loss improved to 5.34% in Q3 FY23, against 6.53% last year.

• ICICI Prudential Q3 FY23 (Consolidated, YoY)

Revenue up 78% at Rs 17,535 crore Vs Rs 9,865 crore

VNB up 23.2% at Rs 1,710 crore Vs Rs 1,388 crore (nine months)

VNB margin at 32% Vs 27.1% (nine months)

Net profit fell 29% at Rs 221.5 crore Vs Rs 312 crore

• ICICI Lombard Q3 FY23 (Consolidated, YoY)

Revenue up 13.18% YoY at Rs 4,362 crore Vs 3,854.14 crore (Bloomberg estimate: Rs 4,378.8 crore)

Gross direct premium income up 21% at Rs 16,048 crore Vs Rs 13,311 crore (nine months)

Return on average equity at 18.1% Vs 15.1% (nine months)

Net profit up 11% YoY at Rs 352.53 crore Vs Rs 317.53 crore (Bloomberg estimate: Rs 448 crore)

• Delta Corp Q3 FY23 (Consolidated, QoQ)

Revenues up 1.26% at Rs 273.37 crore vs Rs 269.97 crore

EBITDA up 1.97% at Rs 102.32 crore vs Rs 100.34 crore

EBITDA margin at 37.43% vs 37.17%

Net profit up 24.28% at Rs 84.82 crore vs Rs 68.25 crore

• Tata Investment Corporation Q3 FY23 (Consolidated, YoY)

Revenues down 26.11% at Rs 37.66 crore Vs Rs 50.97 crore

EBITDA down 30.15% at Rs 31.60 crore Vs Rs 45.23 crore

EBITDA margin at 83.91% Vs 88.74%

Net profit down 13.24% at Rs 34.53 crore Vs Rs 39.8 crore

• Gulshan Polypols Q3 FY23 (Consolidated, YoY)

Revenue up 13.3% at Rs 331.62 crore Vs Rs 292.66 crore

EBITDA down 31.4% at Rs 24.18 crore Vs Rs 35.23 crore

EBITDA margin at 7.2% Vs 12%

Net profit down 37.8% at Rs 118.50 crore Vs Rs 190.50 crore

• Tata Metaliks Q3 FY23 (Consolidated, YoY)

Revenue up 14.56% at Rs 790.23 crore Vs Rs 689.8 crore

EBITDA down 42.88% at Rs 38.74 crore Vs Rs 67.82 crore

EBITDA Margins at 4.9% Vs 9.83%

Net profit down 73.41% at Rs 9.48 crore Vs Rs 35.65 crore

• Eris Lifesciences Q3 FY23 (Consolidated, YoY)

Revenue up 27.43% at Rs 423.26 crore Vs Rs 332.16 crore (Bloomberg estimate: Rs 445.93 crore)

EBITDA up 12.72% at Rs 137.2 crore Vs Rs 121.72 crore (Bloomberg estimate: 142.23 crore)

EBITDA margin at 32.42% Vs 36.65% (Bloomberg estimate: 31.9%)

Net profit up 1.1% at Rs 101.86 crore Vs Rs 100.77 crore (Bloomberg estimate: Rs 108 crore)

• Shalby Q3 FY23 (Consolidated, QoQ)

Revenue up 0.33% at Rs 202.46 crore Vs Rs 201.8 crore (Bloomberg estimate: Rs 213.90 crore)

EBITDA down 9.08% at Rs 33.96 crore Vs Rs 37.35 crore

EBITDA margin at 16.77% Vs 18.51%

Net profit down 16.95% at Rs 15.29 crore Vs Rs 18.41 crore (Bloomberg estimate: Rs 20 crore)

• Hathway Cable & Datacom Q3 FY23 (Consolidated, QoQ)

Revenues up 1.11% at Rs 478.45 crore Vs Rs 473.22 crore

EBITDA down 3.56% at Rs 2.44 crore Vs Rs 2.53 crore

EBITDA margin at 0.51% Vs 0.54%

Net profit down 4.9% at Rs 28.74 crore Vs Rs 30.22 crore

IndusInd Bank, Persistent Systems, Central Bank of India, Rallis India, Oracle Financial Services Software, CCL Products (India), Alok Industries, PSP Projects, Stylam Industries, Surya Roshni, Wendt (India)

• Bajaj Finserv: Madhur Securities bought 1.45 lakh shares (0.09%), Rahul Securities bought 2.55 lakh shares (0.16%) and Rishab Family Trust sold 4 lakh shares (0.25%) at Rs 1,380 apiece.

• V-Mart Retail: Amansa Holding bought 1.65 lakh shares (0.83%) at Rs 2,800 apiece.

• BCL Industries: Kedia Fintrade bought 2 lakh shares (0.83%) and Rollon Investment sold 2 lakh shares (0.83%) at Rs 450 apiece

• Samvardhana Motherson International: Sojitz Corporation sold 10.61 crore share (1.57%) at Rs 73.11 apiece.

• Hindustan Aeronautics: To meet analysts and investors on Jan. 19.

• Ex-Date Bonus Issue: KPI Green Energy

• Ajanta Pharma: Promoter Aayush M Agrawal, trustee Aayush Agrawal Trust, revoked a pledge of 8.20 lakh shares on Jan. 12.

• Rupee closed 0.19% lower against the U.S. dollar at 81.77 on Tuesday, compared to Friday’s close of 81.62.

• Nifty January futures ended at 18,092.50, a premium of 150.75 points.

• Nifty January futures fell 1.84% and 4,336 shares in Open Interest.

• Nifty Bank January futures ended at 42,380, a premium of 78.75 points.

• Nifty Bank January futures fell 5.37% and 4,603 shares in Open Interest.

• Securities added to the ban period: Delta Corp, Gujarat Narmada Valley Fertilizers & Chemicals, Indiabulls Housing Finance, L&T Finance Holdings and Manappuram Finance

• Securities removed from the ban period: Nil

• Care Ratings - Undemanding Valuation, Assured Revenue Growth: HDFC Securities Initiates Coverage

• Apollo Hospitals - Past Was Good; Await Better Future: Motilal Oswal

• Astral - Robust Volume Outlook In Pipes For H2 FY23E With Margin Improvement: ICICI Securities

• Gas Prices - How Long Can The Bearish Sentiment Last? ICICI Securities' Analysis  

• Anup Engineering - A Combination Of Sustained Growth, Superior Operating Margin: HDFC Securities

• Cement Sector Q3 Results Preview - Margins Continue To Remain Under Pressure: Nirmal Bang

• India Metals, Mining Q3 Results Preview - China Reopening, Record Deficits To Drive Outperformance: Systematix

• Hotels & Tourism Q3 Results Preview - Strong Performance To Continue: ICICI Direct

• NBFCs Q3 Results Preview - Business Momentum Remain Strong: Systematix

• Pharma, Healthcare Q3 Results Preview - Cost Pressures Have Started Abating: ICICI Securities