Stocks To Watch: Adani Ports, Tata Motors, Uttam Sugar Mills, Adani Wilmar

Asian shares advanced on Wednesday following Wall Street gains on Tuesday as traders bet that the upcoming US consumer price index will show further softening.

U.S. stocks were waiting for a cue from Fed Chair Jerome Powell, who refrained from divulging clues on the policy outlook. Stocks moved decidedly higher in afternoon New York trading, with the S&P 500 finishing above its key 3,900 mark.

At 6:04 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was up 0.07% to 17,998.5.

Domestic indices closed 1% lower as losses in telecom, financials, banking, and technology stocks weighed the gauges down.

Overseas investors in Indian equities were net sellers for the 13th day in a row on Tuesday. Foreign portfolio investors offloaded stocks worth Rs 2,109.34 crore, while domestic institutional investors mopped up stocks worth Rs 1,806.62 crore.

Rupee extended its rally against the U.S. dollar to close below the 82-mark for the first time since Dec. 6, 2022.

• Adani Ports and Special Economic Zone: The Adani-Gadot combine has completed the acquisition of Haifa port in, the finance ministry of Israel said in a statement.

• Tata Motors: The company’s subsidiary Tata Passenger Electric Mobility completed the acquisition of Ford India’s Sanand-based manufacturing plant.

• Bank of Baroda: The bank has hiked lending rates across tenors in the range of 20-35 basis points, with effect from Jan. 12.

• Shree Renuka Sugars: The company’s board will meet on Jan. 27 to consider and approve change in terms of its non‐convertible debentures.

• Uttam Sugar Mills: The company’s board approved increasing daily capacity of its ethanol distillery in Barkatpur by 100 kilolitres to 250 kilolitres with a capex of Rs 56 crore. The company will also send Rs 40 crore to increase its cane crushing capacity enhancement to 26,200 tonne of cane per day.

• Agarwal Industrial Corporation: Investor Ashish Kacholia increased his stake in the company to 3.82%.

• Adani Wilmar: Business Updates for December Quarter (YoY)

1. The company registered overall volume growth in high teens and value growth of high single-digit.

2. Edible oil segment saw high-single digit volume growth, and low-single digit rise in value.

• PC Jeweller: Business Updates for December Quarter (YoY)

1. The company recorded 38% growth in domestic turnover at Rs 829.10 crore.

2. It also opened a new franchisee showroom in Bihar.

• National Standard (India)

Rama Steel Tubes: Nomura Singapore sold 5 lakh (0.11%) at Rs 42.8 apiece.

• Jindal Stainless: To meet investors and analysts on Jan. 11.

• Xpro India: To meet investors and analysts on Jan. 11.

• Electronics Mart India: To meet investors and analysts on Jan. 11.

• Ex Date Amalgamation: JMC Projects (India)

• Ex Date Special Dividend: Welspun Enterprises

• Record Date Amalgamation: JMC Projects (India)

• Record Date Special Dividend: Welspun Enterprises

• Move Out Of Short-Term ASM Framework: GRM Overseas, Southern Petrochemicals Industries Corporation, Themis Medicare

• Nifty January futures ended at 17,988.45, a discount of 184.75 points.

• Nifty January futures rose 3.38% and 7,609 shares in Open Interest.

• Nifty Bank January futures ended at 42,222.20, a discount of 545.15 points.

• Nifty Bank January futures rose 3.02% and 2,610 shares in Open Interest.

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

• Securities removed from the ban period: Nil

• Q3 FY23 Results Preview - Stem The Game: Motilal Oswal

• Cement Q3 Results Preview - Pick-Up In Volumes, Easing Cost Pressure To Aid Margin Recovery: ICICI Direct

• Consumer Sector Q3 Results Preview - Demand Tepid, Margins Improve Sequentially: Prabhudas Lilladher

• Banks, NBFCs Q3 Results Preview: Healthy Growth In Credit, Operating Profits Will Boost Earnings: KRChoksey

• India Automobiles Q3 Results Preview - Benign Commodity Costs To Aid In YoY Margin Expansion: Systematix

• Orient Electric - Near-Term Challenges Persists; Long-Term Growth Potential Intact: ICICI Securities

• HUDCO - Stable NPAs, Strong Capital Adequacy; Valuations Remains Inexpensive: HDFC Securities

• Life Insurance - Individual WRP For Private Players Grows 15.9% In Dec; LIC’s Grows 3.1%: Motilal Oswal

• Titan Company - Fine-Tuning Right To Win In South India: ICICI Securities