All You Need To Know Going Into Trade On January 10
Stocks are starting the week weaker as investors brace for bond-market volatility and assess the economic hit from the rapidly spreading Covid omicron variant.
Shares edged lower in Australia and South Korea. U.S. futures slipped after the S&P 500 posted the worst start to a year since 2016 as expectations of faster-than-anticipated U.S. interest-rate increases roiled bond markets. Japan is shut for a holiday Monday.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index's performance, rose 0.33% to 17,916, as of 7 a.m
Elsewhere, Bitcoin traded around $42,000 as cryptocurrencies continue to struggle.
Earnings - Post Market Hours
Avenue Supermarts Ltd Q3 FY22 Consolidated Figures (QoQ).
Revenue up 18% at Rs 9217.76 crore vs Rs 7788.94 crore
Net profit up 32% at Rs 552.53 crore vs Rs 417.76 crore
Ebitda up 30% at Rs 866.46 crore vs Rs 668.58 crore
Margin at 9.4% Vs 8.6%
Stocks to Watch
Reliance Industries: The company's wholly owned subsidiary Reliance Industrial Investments and Holdings Ltd. will acquire indirectly 73.37% equity stake in New York's Mandarin Oriental. It will acquire remaining stake if other owners participate at the same valuations.
Sobha: The company reported Q3 sales volume of 1,322,684 square feet of super built-up area, an increase of 17% YoY. It was valued at Rs 1,048 crore, an 18% increase. It also reported the highest ever share of sale value of Rs 908 crore during the quarter, up by 34% YoY.
Tata Steel: India crude steel production rose 1.5% sequentially in Q3; overall deliveries were lower by 4% QoQ as increase in domestic deliveries was offset by lower exports.
SJVN: The company bagged 125 MW grid connected solar power project in UP Solar Park in Uttar Pradesh. It will build 75 MW grid connected solar power project at Gurhah, in Jalaun District and 50 MW grid connected solar power project at Gujrai, in Kanpur Dehat District in the state.
Indostar: The CEO R. Sridhar has stepped down and Deep Jaggi, the chief business officer has now taken over as the CEO of the company.
Tata Consultancy Services: Board will consider a proposal for buyback of equity shares on January 12, 2022.
Hindustan Construction: The company has defaulted on total loan payments of Rs 2162.35 crore.
KEC International: The company has secured new orders of Rs 1,025 crores across its various businesses including Railways, Civil, Oil and Gas pipeline, Smart Infra and Cables.
Federal Bank: To raise funds by way of issue of Unsecured Basel III Tier-II Subordinate Bonds in the nature of Debentures, amounting up to Rs 700 crore on a private placement basis.
Info Edge: The company declared an interim dividend of Rs 8 per share.
GTL Infrastructure: The company has reported loan overdue of Rs 2882.19 crore as on Dec. 31, 2021.
Data Infrastructure: The company announced rights issue of units.
Reliance Infrastructure: The company has defaulted on loans of Rs. 2,807.43 crore as on Dec. 31, 2021.
Sintex: The company has defaulted on loans of Rs 7,425.5 crore as on Dec. 31, 2021.
Seshasayee Paper and Boards: To announce Q3 results on Jan. 22.
Loyal Textile Mills: To announce Q3 results on Feb. 11.
Sportking India: To announce Q3 results on Jan. 22.
Cholamandalam Investment and Finance: To announce Q3 results on Feb. 1.
CEAT: To announce Q3 results on Jan. 19
Pledged Share Details
Mangalore Chemicals & Fertilisers: Promoter Zuari Agro Chemicals revoked a pledge of 3 lakh shares on Jan. 04.
DB Corp.: Promoter Group DB Consolidated revoked a pledge of 10 lakh shares on Jan. 07.
Zee Learn: Morgan Stanley Asia (Singapore) sold 19.90 (0.61%) lakh shares at Rs 19.18 apiece. Spring Ventures sold 40 lakh (1.23%) shares at Rs 18.59 apiece.
CG Power and Industrial Solutions: American Funds Fundamental Investors bought 17.63 lakh (1.3%) shares at Rs 199 apiece. Amansa Holding sold 17.63 lakh (1.3%) shares at Rs 199 apiece.
Move Into Short-Term ASM Framework: Zee Learn, Jaiprakash Power Ventures, Black Box
Move Out Of Short-Term ASM Framework: Reliance Communications
Price Band Revised From 10% To 5%: JBM Auto
Money Market Update
The rupee ended at 74.30 against the U.S. Dollar on Friday as compared to Thursday's closing of 74.49.
Avenue Supermarts: Raised to 'equal-weight' from 'under-weight' at Morgan Stanley, target price at Rs 4,338.
Spandana Sphoorty Financial: Cut to 'add' from 'buy' at ICICI Securities, target price at Rs 460.
Indian Hotels: ICICI Securities inititates coverage with 'buy', price target set at Rs 237.
Nifty January futures ended at 17,855.15; a premium of 42.45 points.
Nifty January futures added 2.28% and 4,689 shares in Open Interest.
Nifty Bank January futures ended at 37,856.35; a premium of 116.75 points.
Nifty Bank January futures shed 3.47% and 3,262 shares in Open Interest.
Securities in the ban list: RBL Bank
Securities added to the ban list: Delta Corp
India IPO Market Update, Overview, Investment Rationale: ICICI Securities
Cement Sector Q3 Earnings Preview - Seasonal Weakness An Opportunity To Accumulate: ICICI Securities
Bank Credit Deployment In November - Growth In Roads, Small Ticket Personal Loans: CareEdge
Oil & Gas, Chemical, Telecom Sector Q3 Earnings Preview: Reliance Securities
Consumer Sector Q3 Earnings Preview - Health, Hygiene Products To Drive The Show: KRChoksey