Stocks To Watch: TCS, Tata Motors, Sona BLW, DB Realty, HDFC
Stocks to watch before going into trade today
Asian stocks were mixed on Tuesday after a US rally fizzled out as the Federal Reserve officials signaled that the central bank will likely need to raise interest rates above 5% before pausing and holding for some time.
Australian stocks fell and equity futures for Hong Kong were slightly weaker, while Japan’s Topix Index rose after reopening following a public holiday Monday. Contracts on the S&P 500 edged lower after the index failed to stay above the key 3,900 level, erasing an advance that reached almost 1.5% Monday.
The Dow Jones Industrial Average underperformed, while the Nasdaq 100 rose thanks to gains in big tech, with Tesla Inc. surging about 6%. The dollar and Treasury yields pared their declines.
Crude price rose 1.6%, while gold was up 0.3%. Bitcoin increased 2.3% to trade around the $16,800-level.
Domestic indices closed 1% higher, tracking rallies in the Asian stocks.
The rupee started the week closing higher against the U.S. dollar on the back of a strong show by domestic equities.
At 6:35 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was down 0.07% to 18,160.5
Stocks To Watch
Tata Motors: Tata Motors Group global wholesales increased 13% on-year in the December quarter at 3.23 lakh units. Passenger vehicles sales were up 23% during the period at 2.25 lakh units. Meanwhile, Jaguar Land Rover wholesales, excluding China JV, rose 15% YoY to 79,591 units in December quarter, with a positive free cash flow of £400 million (Rs 4,003.15 crore).
LT Foods/Chaman Lal Setia Exports/Others: Authorities are planning to remove the ban imposed in September last year on export of certain varieties of rice as domestic prices stabilise, according to a Bloomberg report. This will be positive for stocks of rice exporting companies.
DB Realty: NCLT approved Adani Goodhomes' resolution plan for Radius Estates, a JV partner of MIG (Bandra) Realtors & Builders, which is a subsidiary of DB Realty. Radius Estates and MIG are developing Project Ten BKC property in Mumbai.
HDFC: The lender will sell its entire 17.5% stake in Kaizen Management Advisors for Rs 1.10 crore. Meanwhile, subsidiary HDFC Capital Advisors has achieved the initial close for Scheme 2 of the HDFC Capital Affordable Real Estate Fund–3.
IRB Infrastructure Developers: The company reported a 32% YoY increase in consolidated Q3 toll revenue at Rs 388.01 crore.
Sona BLW Precision Forgings: The company will acquire 54% stake in NOVELIC d.o.o. Beograd–Zvezdara for €40.5 million (Rs 355.98 crore).
Indian Overseas Bank: The bank will increase lending rates by 5 basis points across tenors from Jan. 1, 2023.
Lupin: The Spanish Ministry of Health approved the reimbursement of Lupin’s NaMuscla (mexiletine) for the symptomatic treatment of myotonia in adults with non-dystrophic myotonic disorders.
Page Industries: Rohan Genomal resigned as Executive Director-Strategy, effective March 31, 2023, for personal reasons.
Welspun Enterprises: Chief financial officer Sanjay Sultania resigned, effective Jan. 9, 2023, to take up other major responsibility within the Welspun Group.
Stylam Industries: Abakkus Growth Fund increased stake in the company by 0.12% to 2.39%, while Sixth Sense India raised its shareholding by 0.26% to 4.5%.
Surya Roshni: Mukul Agarwal increased stake in the company to 1.71%, while Vikas Khemani’s take remains unchanged at 1.45%.
Gillette India: The board of the company will consider and approve results and dividend on Feb. 1.
Procter & Gamble Hygiene & Health Care: The board will meet on Feb. 8 to consider and approve financial results for the December quarter and interim dividend.
Star Health and Allied Insurance Company: Business Update for YTD Dec. 31, 2022 (YoY)
The company registered 13% rise in total gross direct premium at Rs 8,752 crore.
While gross direct premium in personal accident space increased 23% to Rs 133.5 crore, health-retail segment saw 19% growth at Rs 8,045.50 crore.
Gross direct premium in health-group space declined 38% to Rs 571.70 crore.
Tata Consultancy Services (Consolidated, QoQ)
Revenue up 5.2% at Rs 58,229 crore vs Rs 48,885 crore (Bloomberg estimate: Rs 57,205 crore)
EBIT up 7.56% at Rs 14,284 crore vs Rs 12,237 crore (Bloomberg estimate: Rs 14,075 crore)
EBIT margin at 24.53% vs 25% (Bloomberg estimate: 24.6%)
Net profit up 4% at Rs 10,883 crore vs Rs 9,806 crore (Bloomberg estimate: Rs 11,083 crore)
The company announced an interim dividend of Rs 8 and a special dividend of Rs 67.
Bombay Burmah Trading Corporation: Macrofil Investments bought 4.40 lakh shares (0.63%), The Bombay Dyeing and Manufacturing Co. sold 4.40 lakh shares (0.63%) at Rs 954.50 apiece.
Zensar Technologies: Scountbit General Trading LLC sold 14 lakh (0.62%) at Rs 208.34 apiece.
Pledge Share Details
Kuantum Papers: Promoter Kapedome Enterprises revoked a pledge of 22 lakh shares on Oct. 31, 2022.
Who’s Meeting Whom
Mazagon Dock Shipbuilders: To meet investors and analysts on Jan. 10.
Landmark Cars: To meet investors and analysts on Jan. 10.
HFCL: To meet investors and analysts on Jan. 10.
Ex Date Stock Split: Rajnish Wellness
Record Date Stock Split: Rajnish Wellness
Nifty January futures ended at 18,161.80, a premium of 218.60 points.
Nifty January futures fell 2.27% and 5,233 shares in Open Interest.
Nifty Bank January futures ended at 42,741, a discount of 382.50 points.
Nifty Bank January futures fell 8.18% and 7,701 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