Stocks To Watch: NTPC, HPCL, Bharti Airtel, GR Infraprojects, Tata Power

Asian markets headed towards a positive opening on Thursday after the U.S. shares snapped its two-day losing streak.

Equity benchmarks in Australia and South Korea rose less than 1%, while Japanese stocks fluctuated. The S&P 500 rose 0.8% and Treasuries rallied for a second day to close at 3.70%. The dollar weakened.

At 6:07 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was up 0.26% to 18,158.5.

Meanwhile, yield on 10-year Treasuries fell three basis points to 3.70%.

Crude price was down nearly 5% amid demand concerns arising from longer-than-expected recovery in China.

Domestic indices ended their two-day rally to end 1% lower, with the market breadth skewed in favour of bears.

Overseas investors were net sellers of Indian equities for the ninth day in a row on Wednesday. Foreign portfolio investors net sold Indian equities worth Rs 2620.89 crore, while domestic institutional investors continued mopped up equities worth Rs 773.58 crore of Indian stocks.

Rupee maintained its strong start against the U.S. dollar from earlier in the day to close in the green after two consecutive days of losses.

• Mahindra & Mahindra Financial Services: The RBI has lifted restrictions against Mahindra Finance on appointing third party agents for recovery or repossession. Also, the board of the company will meet on Feb. 3 to consider its financial results for the quarter ended December 2022.

• NTPC/ Hindustan Petroleum: NTPC Green Energy, a subsidiary of NTPC, signed an MoU with HPCL to develop renewable energy projects and supply 400 MW green energy to latter's facilities.

• IRB Infrastructure Developers: The board approved the proposal to split each existing share with a face value of Rs 10 into 10 shares with a face value of Re 1 each.

• Bharti Airtel: The special committee of directors approved allotment of 83.5 lakh shares at a conversion price of Rs 521 apiece after certain holders converted FCCBs worth $60.4 million.

• SJVN: The Cabinet approved investment of Rs 2,614 crore for the company's 382 MW Sunni Dam Hydro Electric Project in Himachal Pradesh.

• Hindustan Unilever: The company completed the acquisition of 19.8% stake in Nutritionalab for Rs 70 crore.

• Hindustan Petroleum Corporation: The company forayed into petrochemical business with pre-marketing of HP Durapol branded polymers in a pre-cursor to setting up a 9MMTPA refining and petrochemical complex in Rajasthan.

• Tata Power: The company will compute and claim tariff from the beneficiaries based on the Central Electricity Regulatory Commission order that grants compensation for emergency supply from its Mundra plant.

• Krishna Institute of Medical Sciences: The board approved raising funds via issuance of non-convertible debentures of Rs 300 crore in one or more tranches.

• GR Infraprojects: Subsidiary GR Bhimasar Bhuj Highway received a letter from the NHAI declaring the appointed date of Jan. 2, 2023, for upgrading a section of NH341 from Bhimasar to Anjar–Bhuj in Gujarat to four-lanes. The bid project cost is Rs 1,085 crore.

• National Aluminium Co.: The company's board will meet on Jan. 17 to consider interim dividend for the current fiscal.

• Adani Ports and Special Economic Zone: Business Updates For December 2022 (YoY)

1. The total cargo handled grew 8% to 25.1 million metric tonnes.

2. Cargo volumes increased 8% to 253 million metric tonnes during April-December 2022 period.

• Bajaj Finance: Business Updates For December Quarter (YoY)

1. AUM as of Dec. 31, 2022, rose 27% to Rs 2.3 lakh crore

2. New loan accounts grew 5.4% to record figure of 7.8 million

3. Deposit book rose 41% to Rs 43,000 crore.

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

1. Total deposits increased 11% to Rs 81,746 crore.

2. CASA deposits increased 18% to Rs 29,948 crore.

3. Gross advances increased 14% to Rs 68,371 crore.

• Marico Ltd: Business Updates For December Quarter

1. Consolidated revenue in the quarter grew in low single digits on annual basis.

2. Gross and operating margins are expected to improve both on a sequential and on-year basis.

3. The company expects a modest growth in operating profit.

Sah Polymers: The IPO was subscribed 17.46 times on the final day. The QIB portion was subscribed 2.4 times, while the HNI portion was subscribed 32.69 times. The retail portion was subscribed 39.78 times.

Somany Ceramics Limited: PGIM India Mutual Fund bought 3.07 lakh shares (0.72%) at Rs 499.03 apiece.

Price Band Revised From 20% To 10%: BF Investment

Mangalore Chemicals & Fertilizers: Promoter Zuari Agro Chemicals created a pledge of 20 lakh shares on Jan. 2.

• Nifty January futures ended at 18,102.95, a discount of 214.35 points.

• Nifty January futures fell 1.76% and 3,853 shares in Open Interest.

• Nifty Bank January futures ended at 43,150, a discount of 459.30 points.

• Nifty Bank January futures rose 2.23% and 2,046 shares in Open Interest.

• Securities added to the ban period: Nil

• Securities removed from the ban period: Nil

• SBI, Tech Mahindra, Dalmia Bharat, PNC Infra And More - Top Stock Picks For January: Axis Securities

• IT Services Q3 Results Preview - Seasonality-Led Slower Demand To Hurt Growth: Motilal Oswal

• Oil & Gas Q3 Preview - Operationally Strong Results Likely: Prabhudas Lilladher

• AlcoBev, Hotel, Media, Retail, Telecom Q3 Results Preview - Risk-Reward Turning A Bit-Favorable: Dolat Capital

• Telecom Q3 Results Preview - Steady Growth Expected: Prabhudas Lilladher

• Gujarat Themis Biosyn - New Business Model To Drive Topline, Margin: HDFC Securities Initiates Coverage

• RateGain Travel - Attractive Acquisition Deepens Tech Moat, Business Scale: Dolat Capital

• Ahluwalia Contracts - Healthy, Diversified Order Book Provides Long-Term Revenue Visibility: HDFC Securities

• JSPL - Capacity, Cost-Efficiencies To Aid Earnings: ICICI Securities

• NCC - Order Inflow Traction Remains Strong: ICICI Direct