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Stock Market Today: All You Need To Know Going Into Trade On Jan. 9

Stocks in the news, big brokerage calls of the day, complete trade setup and much more!

<div class="paragraphs"><p>(Source:&nbsp;<a href="https://unsplash.com/@ahmadsyarifm?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">Ahmad Syarif Maulana</a> on <a href="https://unsplash.com/images/food/coffee?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">Unsplash</a>)</p></div>
(Source: Ahmad Syarif Maulana on Unsplash)

Asian stocks rose in early trading after US equities had their best day in more than a month on Friday. Australian stocks gained 1% while US equity futures edged higher.

Contracts for Hong Kong equities climbed 1.5% on Friday. Japanese markets are closed Monday for a public holiday.

Indian stock markets will take cues from earnings of information technology companies and the macro data during the week.

Investors will also look at crude prices and foreign inflows during the week when Tata Consultancy Services Ltd. kicks off the earnings season, and inflation and industrial output numbers are expected.

On Friday, the U.S. stocks had the best day in more than a month as slowing wage growth and an unexpected contraction in services activity, increased expectations of the Federal Reserve easing the pace of rate hikes in its fight against inflation.

The S&P 500 rose 2.3%, while the Nasdaq 100 jumped 2.8%. The yield on 10-year Treasuries declined 16 basis points to 3.56%.

Back home, the S&P BSE Sensex closed 453 points or 0.75% lower at 59,900.37, while the NSE Nifty 50 declined 133 points or 0.74% lower to 17,859.45 on Friday. The Indian currency depreciated by 17 paise to 82.73 at the close against the greenback on Friday.

Overseas investors were net sellers of Indian equities for the eleventh day in a row on Friday. Foreign portfolio investors net sold Indian equities worth Rs 2,902.46 crore, while the domestic institutional investors bought Rs 1,083.17 crore worth of Indian stocks, after breaking a 21-day buying streak on Thursday.

At 6:17 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was up 0.84% to 18,109.5.

Stock Market Today: All You Need To Know Going Into Trade On Jan. 9

Stocks To Watch

  • Lupin: The company received U.S. FDA approval for Abbreviated New Drug Application Fesoterodine Fumarate Extended-Release Tablets to market a generic equivalent of Toviaz Extended-Release Tablet of Pfizer Inc. The tablet has an estimated annual sale of $177 million in the U.S.

  • Gland Pharma: The company through its wholly owned subsidiary has entered into a share purchase agreement with FPCI Sino French Midcap Fund, as the controlling seller to acquire 100% stake in Cenexi and the Cenexi holding entities.

  • HCL Tech: The company has been selected as the primary IT partner for The ODP Corporation, a business-to-business distribution company. HCL Tech will be the IT partner for ODP for end-to-end IT operations and enterprise-wide digital transformation to support ODP’s business strategy in its Office Depot, ODP Business Solutions and Veyer business units.

  • Krishna Institute of Medical Sciences: The company has made a further investment of acquiring 5.53% stake in Sarvejana Healthcare at Rs 340 apiece, taking its total stake to 56.61%.

  • Tata Steel: Provisional production volumes rose to 7.52MT in Q3 Vs 7.5MT in Q2. Deliveries dipped to 6.98MT in Q3 Vs 7.08MT in Q2.

  • Tata Steel Long Products: The provisional production volumes of Direct Reduced Iron rose to 1.83 lakh tons in Q3 from 2.28 lakh tons. Production volumes for crude steel rose 2.28 lakh tons in Q3, compared to 1.61 lakh tons in the previous quarter.

  • Asian Paints: The board approved setting up a new water-based paint manufacturing facility with a capacity of 4 lakhs kilolitres per annum at an approximate investment of Rs 2,000 crore, to be commissioned within three years after acquisition of land.

  • Hi-Tech Pipes: The company signed MoU with the Government of Uttar Pradesh to set up a mega manufacturing facility of steel tubes and pipes and flat steel with an investment of Rs 510 crore.

  • RPP Infra Projects: The board approved raising funds through the issue of three lakh equity shares and 1.15 crore warrants convertible into equity shares on preferential basis to non-promoters at a price of Rs 44.25.

  • Ashoka Buildcon: The company received letters of intent from Dakshinanchal Vidyut Vitran Nigam for two projects worth Rs 807.64 crore.

  • Keystone Realtors: The company has been selected to redevelop the plot and premises of Basant Park Co-operative Housing Society Limited on a plot spanning 16,896.40 square meters in Chembur, Mumbai. This redevelopment will lead to a sale potential of approximately 2.75 lakh square feet of RERA carpet area.

  • Mahindra and Mahindra Financial Services: CRISIL Ratings has upgraded its rating on the long-term bank facilities, subordinated debt and NCDs of the company to ‘CRISIL AAA/Stable’ from ‘CRISIL AA+/Stable’.

  • Titan Company: Business Update For December Quarter

    -Jewellery business grew 11% year-on-year, while watches and wearables segment grew 14%.

    -Eyecare vertical registered 10% growth.

    -Fashion, fragrances and apparel businesses grew 75%.

    -Subsidiaries TEAL and CaratLane grew 58% and 50%, respectively.

    -On standalone basis, Titan Co. had 2,362 stores as of Dec. 31, 2022.

  • Kalyan Jewellers: Business Update For December Quarter

    The company recorded sequential consolidated revenue growth of approximately 13%. Middle East business grew 24% growth sequentially on the back of improved customer sentiment.

  • Bandhan Bank: Business Updates For December Quarter (YoY)

    -Loans and advances grew 14% to Rs 1.01 lakh crore. CASA deposits declined 3% to Rs 37,194 crore, with CASA ratio at 36.4% against 45.6%. Total deposits grew 21% to to Rs 1.02 lakh crore.

Results

  • Tata Consultancy Services

Block Deals

  • Bombay Burmah Trading Corporation: Macrofil Investments bought 13 lakh shares (1.86%), The Bombay Dyeing And Manufacturing Co. sold 13 lakh shares (1.86%) at Rs 928 apiece.

Bulk Deals

  • Landmark Cars: Girik Wealth Advisors bought 4.37 lakh shares (1.1%) at Rs 563.74 apiece, BofA Securities Europe sold 2.5 lakh shares (0.63%) at Rs 576.04 apiece.

  • Sigachi Industries: Dharm Prakash Tripathi sold 1.55 lakh shares (0.5%) at Rs 316.87 apiece.

Who’s Meeting Whom

  • Safari Industries: To meet analysts and investors on Jan. 9.

Trading Tweaks

  • Move Out Of Short-Term ASM Framework: Salasar Techno Engineering

Pledge Share Details

  • Sterling and Wilson Renewable Energy: Promoter Shapoorji Pallonji and Co. released a pledge of 6.29 lakh shares on Jan. 4.

Money Market Update

  • Rupee closed 0.21% lower against the U.S. dollar at 82.73 on Friday, compared to Thursday’s close of 82.55.

F&O Cues

  • Nifty January futures ended at 17,949.05, a discount of 116.95 points.

  • Nifty January futures rose 3.26% and 7,279 shares in Open Interest.

  • Nifty Bank January futures ended at 42,362.90, a discount of 408 points.

  • Nifty Bank January futures fell 1.58% and 1,507 shares in Open Interest.

  • Securities added to the ban period: IndiaBulls Housing Finance

  • Securities removed from the ban period: Nil

Stock Market Today: All You Need To Know Going Into Trade On Jan. 9