HImFasHIon: 2023-01-01

Saturday 7 January 2023

Q3 earnings from IT majors, macro data to drive markets this week: Analysts

Trend in the equity market will be guided by a host of factors lined up this week, including inflation numbers, IIP data and quarterly earnings from IT majors, analysts said. Global cues, movement of the rupee, Brent crude oil and foreign funds will also influence Dalal Street this week, they added. "We have important macroeconomic numbers this week, as our IIP and CPI inflation will be announced on January 12. On the same day, China and the US will also come out with their inflation figures. "The Q3 earnings season will kick off with IT major earnings this week, including TCS, Infosys and HCL Tech," said Santosh Meena, Head of Research, Swastika Investmart Ltd. Last week, the Sensex lost 940.37 points or 1.55 per cent, while the Nifty declined 245.85 points or 1.36 per cent. The Indian equity markets have begun the New Year on a slightly cautious note, in line with the global markets, continuing the trend visible in December 2022, said Milind Muchhala, Executive Director, Julius

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8 of top 10 firms lose Rs 1 trn in mcap; Infosys, HDFC Bank, TCS top losers

Eight of the top 10 most valued firms faced a combined erosion of Rs 1,06,991.42 crore in market valuation last week, with IT majors Infosys and Tata Consultancy Services along with HDFC Bank taking the biggest hit. Last week, the Sensex declined 940.37 points or 1.55 per cent. Barring Hindustan Unilever and Life Insurance Corporation of India (LIC), eight firms suffered erosion from their market capitalisation (mcap). The market valuation of Infosys tumbled Rs 25,185.37 crore to Rs 6,09,687.79 crore, the most among the top 10 firms. The mcap of HDFC Bank tanked Rs 18,375.41 crore to Rs 8,89,130 crore. The valuation of Tata Consultancy Services (TCS) eroded by Rs 17,289.02 crore to Rs 11,75,287.30 crore and that of ICICI Bank diminished by Rs 14,447.69 crore to Rs 6,07,140.65 crore. State Bank of India's market valuation slumped Rs 11,245.01 crore to Rs 5,36,012.18 crore. HDFC's valuation declined by Rs 7,419.45 crore to Rs 4,74,018.02 crore and that of Reliance Industries Limit

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FPIs sold for 11 consecutive days; cumulative selling at Rs 14,300 crore

FPIs have turned sustained sellers in the Indian market and sold for 11 consecutive days taking cumulative selling to Rs 14,300 crore, says V.K. Vijayakumar

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Friday 6 January 2023

TCS Q3 preview: Margins to expand sequentially; Revenue may grow 16-18% YoY

TCS Q3 results preview: As per brokerage estimates, TCS may post up to 18 per cent Yo revenue growth to an average of Rs 57,446 crore. The bottom line could rise 10-16 per cent to around Rs 11,046 cr

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Gold and silver prices fall; yellow metal selling at Rs 55,530 per 10 g

The price of 22-carat gold fell Rs 400 from yesterday's close to Rs 50,900, according to the GoodReturns website

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Gold declines Rs 153 amid weak global trends

Gold price in the national capital declined Rs 153 to Rs 55,650 per 10 grams on Friday amid a fall in precious metal prices globally, according to HDFC Securities. The yellow metal had ended at Rs 55,803 per 10 grams in the previous trade. Silver also fell Rs 7 to Rs 68,700 per kilogram. "Gold price fall was extended after stronger than expected US job market data allowed US Fed to continue with higher interest rate," said an analyst at HDFC Securities. In the overseas market, gold was quoting lower at USD 1,839.6 per ounce while silver was flat at USD 23.46 per ounce. The US job market data pushed US dollar to a fresh one-month high. Rising interest rates and higher dollar index tend to weigh on yellow metals, the analyst added.

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Thursday 5 January 2023

IDBI Bank up 5% on Sebi nod to reclassify govt post sale stake as 'public'

At present, the government and state-owned Life Insurance Corporation hold a little over 94 per cent in IDBI Bank and are classified as co-promoters.

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Gold prices rise, silver unchanged; yellow metal trading at Rs 55,960

The price of 22-carat gold rose by Rs 200 from yesterday's to Rs 51,300

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Watch out for these key levels on HDFC Life, ICICI Pru, says Mehul Kothari

According to the technical analyst from Anand Rathi, HDFC Life can jump to Rs 660; while ICICI Prudential Life can rally to Rs 510.

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MARKET LIVE: Sensex, Nifty may see tepid start; Voda Idea, IDBI Bk in focus

Stock market LIVE updates: Overnight, Wall Street closed lower after a one-day hiatus with the S&P 500 falling 1.16 per cent; Dow Jones 1 per cent; and Nasdaq Composite 1.47 per cent

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Stocks to Watch: RIL, Ambuja Cements, IDBI Bank, Voda Idea, VLS Finance

Stocks to watch today: Sebi has acceded to the central government's request to reclassify its shareholding in IDBI Bank after its disinvestment as "public holding"

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Profit-booking takes some sheen off gold; commodity hits all-time high

The yellow metal had closed at Rs 56,195 per 10 gram in the previous trade. Silver also plummeted Rs 1,475 to Rs 69,286 per kilogram

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Wednesday 4 January 2023

Mahindra Finance gains 3% as RBI lifts ban on outsourcing loan recovery

On September 22, 2022, the RBI had directed company to immediately cease carrying out any recovery or repossession activity through outsourcing arrangements, till further orders.

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Bajaj Finance tumbles 8% as AUM logs lesser-than-expected growth in Q3

Bajaj Finance acquired 3.1 million new customers (v/s 2.6 million acquired in Q2FY23). The new customer acquisition run-rate was healthy in Q3FY23.

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Gold prices rise to mid-June highs as markets look to US Fed minutes

The market now awaits the 2 p.m. EST release of the minutes from the Fed's Dec. 13-14 policy meeting

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Tuesday 3 January 2023

Orient Cement up 21% in 2 days; firm clarifies on Adani stake purchase buzz

The BSE had sought clarification from Orient Cement on January 3, 2023, regarding reports stating that Adani Group was in talks to buy promoter stake In the company

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Orient Cement zooms 21% in two days amid buzz of Adani Group eyeing stake

Meanwhile, BSE has sought clarification on an online article claiming that Adani Group was in talks to buy promoters stake in Orient Cement.

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Equitas SFB hits 52-week high, up 7% as RBI approves SBI MF stake buy plan

RBI gave approval to SBI Funds Management Limited (SBIFML) to acquire up to 9.99 per cent of the paid-up equity capital of the Bank through the schemes of SBI Mutual Fund (SBIMF).

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Gold trading at Rs 55,590 as rates rise in early trade, silver unchanged

Gold is considered a hedge against inflation and economic uncertainties, but higher interest rates increase the opportunity cost of holding gold as it pays no interest

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Stocks to Watch: HDFC, IndusInd Bank, PVR, Orient Cement, RIL, IT, FMCG

Stocks to watch today: In a relief to multiplexes, the Supreme Court on Tuesday said that theatre owners had the right to prohibit outside food and beverages on their premises

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The shine is back: Gold prices in India jump to highest in two years

Gold had hit record highs of Rs 55,901 in August 2020. The yellow metal had closed at Rs 54,942 per 10 gram in the previous trade

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Monday 2 January 2023

Life insurance stocks in focus; LIC, HDFC, SBI, ICICI Pru gain up to 5%

Kotak Institutional Equities has initiated coverage on Life Insurance Corporation of India (LIC) with a 'buy' rating and a fair value of Rs 1,000

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Power Finance Corporation surges 5% on heavy volumes; hits over 5-year high

In past six months, the stock has zoomed 51 per cent, as against 8 per cent gain in the S&P BSE Sensex.

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Zomato dips 4% as co-founder, CTO Gunjan Patidar quits company

Gunjan Patidar is the fourth co-founder to exit the company since 2018 and also the fourth top level exit in the company in past two months.

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Stocks to Watch: Zomato, IRCTC, Maruti Suzuki, RIL, Birlasoft, M&M Fin, ZEE

Stocks to watch today: Maruti Suzuki India recorded a 16.5 per cent YoY decline in production volume for passenger vehicles in December 2022

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PTC India shareholders approve final dividend of Rs 5.80 per equity share

Power trading solutions provider PTC India on Monday said its shareholders have approved a final dividend of Rs 5.80 per equity share for 2021-22. This final dividend is in addition to the interim dividend of Rs 2 per equity share, a company statement said. The shareholders during the annual general meeting (AGM) on December 30, 2022 approved the final dividend in addition to the interim dividend, making it the highest-ever dividend declared by the company, it said. "We are also exploring opportunities in emerging areas of Green Hydrogen, Battery Energy Storage Systems through collaborations with global technology companies," Rajib K Mishra, CMD (additional charge), PTC India said. Meanwhile, the consolidated profits for the year ending March, 2022 grew by 21 per cent. The consolidated PAT (profit after tax) increased to Rs 552 crore for FY22 compared to Rs 458 crore in FY21. The company also reported record volumes of 87.5 BU (billion units) during the financial year 2021-22, a .

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