Stock Market Today: All You Need To Know Going Into Trade On Jan. 19

Stocks in Asia were poised to decline Thursday after US shares fell and the treasuries rallied. Shares edged lower in Australia and a gauge of US-listed Chinese companies slumped 2.5%.

At 5:51 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was down 0.45% to 18,139.5.

U.S. stocks extended losses as economic data sparked concerns over growth outlook. The S&P 500 closed Wednesday 1.6% lower, the biggest decline in a month. The yield on 10-year Treasuries declined to 3.37%.

Crude price rose declined by nearly a percent. Bitcoin broke its rally to fall below $21,000-level.

Indian benchmark indices maintained their upward trend for the second day in a row, with the Sensex reclaiming the 61,000-mark.

Rupee snapped its two-day downfall against the U.S. dollar to close at its highest level since Dec. 2, 2022.

Overseas Investors in Indian equities turned being net sellers after a day on Wednesday. Foreign portfolio investors off loaded equities worth Rs 319.23 crore, while domestic institutional investors bought equities worth Rs 1,225.96 crore, as per NSE,

• Adani Enterprises: The company filed the RHP for its Rs 20,000-crore follow-on public offering, with floor price at Rs 3,112 apiece and cap price at Rs 3,276 per share. The company also announced a discount of Rs 64 per share for retail buyers.

• Vedanta: The company will acquire the debt-laden Meenakshi Energy for Rs 1,440 crore.

• State Bank of India: The bank raised Rs 9,718 crore through 15-year infrastructure bonds at 7.7% coupon rate.

• Aurobindo Pharma: The company’s subsidiary APL Health Care received Form 483 with two observations from U.S. FDA following an inspection of its unit I and III, an orals and derma manufacturing facility in Jadcherla, Telangana.

• Coal India: In a coal ministry review, the company was found to have produced 513 million tonnes of coal so far in fiscal 2023, and is expected to surpass the target of 700 million tonnes for the current fiscal. The ministry has pegged the production target for the company during 2023-24 at 780 million tonnes.

• Kotak Mahindra Bank: The board in its meeting scheduled on Jan. 21 will consider raising funds via non-convertible debentures during the remaining period of FY 2022-23, and by the way of NCDs, bonds or other debt securities during FY24.

• Welspun Enterprises: The board of the company has approved voluntary liquidation of subsidiary Welspun Natural Resources to streamline the structure and reduce administrative overheads of the group.

• Mahindra Lifespaces Developers: The company has been selected to redevelop two adjacent residential societies in Santacruz West, Mumbai. The project has a revenue potential of Rs 500 crore.

• Wipro: The company opened Wipro-AWS Launch Pad Center in Toronto, Canada.

IndusInd Bank Q3FY23 (Consolidated)

• NII up 18.51% at Rs 4,495 crore (YoY)

• Net profit up 58.18% at Rs 1,963 crore (YoY)

• Gross NPA at 2.06% Vs 2.11% (QoQ)

• Net NPA at 0.62 Vs 0.61% (QoQ)

Rallis India Q3 FY23 (Consolidated, YoY)

• Revenues up 0.37% at Rs 630.39 crore (Bloomberg estimate: Rs 829.58 crore)

• Ebitda down 20.89% at Rs 53.31 crore (Bloomberg estimate: Rs 99.23 crore)

• Ebitda margin at 8.46% vs 10.73% (Bloomberg estimate: 12%)

• Net profit down 42.98% at Rs 22.55 crore (Bloomberg estimate: Rs 58.88 crore)

Persistent Systems Q3 FY23 (Consolidated, QoQ)

• Revenues up 5.89% at Rs 2,169.37 crore (Bloomberg estimate: Rs 2,160.60 crore)

• Ebit up 11.57% at Rs 333.21 crore (Bloomberg estimate: Rs 315.60 crore)

• Ebit margin at 15.36% vs 14.58% (Bloomberg estimate: 14.61%)

• Net profit up 8.15% at Rs 237.95 crore (Bloomberg estimate: Rs 239.87 crore)

• The board approved an interim dividend of Rs 28 per share.

Alok Industries Q3 FY23 (Consolidated, YoY)

• Revenue down 19.91% at Rs 1,705.69 crore

• Ebitda loss of Rs 42.4 crore against Ebitda of Rs 197.49 crore

• Net loss widened to Rs 249.83 crore vs Rs 0.09 crore

Oracle Financial Services Software (Consolidated, QoQ)

• Revenue up 5.33% at Rs 1,449.3 crore (Bloomberg estimate: Rs 1,475 crore)

• Ebit up 7.41% at Rs 585.61 crore

• Ebit margin at 40.41% vs 39.62%

• Net profit up 9.96% at Rs 437.33 crore (Bloomberg estimate: Rs 488 crore)

Hindustan Unilever, Asian Paints, Hindustan Zinc, Havells India, Polycab India, Mphasis, L&T Technology Services, AU Small Finance Bank, PVR, ICICI Securities, IIFL Wealth Management, Datamatics Global Services, Can Fin Homes, IndiaMART InterMESH, Anant Raj, Happiest Minds Technologies, Hatsun Agro Products, Kuabntum Papers, Meghmani Finechem, Sterling and Wilson Renewable Energy

• Abans Holdings: Vishal Rajnikant Bhansali sold 4.30 lakh shares (0.86%) at Rs 269.69 apiece.

• Hindware Home Innovation: To meet analysts and investors on Jan. 19.

• Aurobindo Pharma: To meet analysts and investors on Jan. 19.

• Subros: To meet analysts and investors on Jan. 25.

• Maruti Suzuki India: To meet analysts and investors on Jan. 24.

• Ex-Date Interim Dividend: HCL Technologies

• Bajaj Finserv: Promoter group Rishab Family Trust Rajivnayan Bajaj sold 4.27 lakh shares, promoter group Bajaj Sevashram purchased 4.27 lakh shares on Jan 12.

• Shilpa Medicare: Promoter group Dharmavati Bhutada created a pledge of 20 lakh shares, promoter group Keshav Bhutada created a pledge of 15 lakh shares, promoter group Madhav Vishnukant Bhutada created a pledge of 15 lakh shares, between Jan. 16-17.

Indian bonds are likely to rally on a sharp drop in US yields after weaker data there cemented expectations of the Federal Reserve ending its tightening cycle soon. A drop in crude prices is also expected to support.

• USD/INR falls 0.6% to 81.2450 on Wednesday

  • Implied opening from forwards suggest spot may start trading around 81.38

• 10-year yields little changed at 7.32% on Wednesday

• Nifty January futures ended at 18,204.50, a premium of 115.30 points.

• Nifty January futures fell 1.82% and 4,206 shares in Open Interest.

• Nifty Bank January futures ended at 42,518, a premium of 176.80 points.

• Nifty Bank January futures fell 14.78% and 11,982 shares in Open Interest.

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

• Securities removed from the ban period: Nil