All You Need To Know Going Into Trade On January 11
Asian stocks opened mostly lower Tuesday after the S&P 500 closed lower for the fifth consecutive session.
Japan shares declined and Australian equities also fell while South Korea advanced. U.S. contracts were volatile after the S&P 500 posted its longest losing streak in over three months. The Nasdaq 100 recovered to end with gains after sliding as much as 2.7%
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index's performance, shed 0.30% to 17,993.50, as of 7:15 a.m
Elsewhere, Bitcoin recovered to around $42,000 after dipping below $40,000, putting it on track for its worst start to a year since the earliest days of digital currencies. Oil edged up.
Stocks To Watch
One97 Communications: The company disbursed loans worth Rs 2,180 crore in October-December quarter, up 73% QoQ. Gross merchandise value for Q3 stood at Rs 2.5 lakh crore, up 28% QoQ. Average monthly transacting users rose to 6.44 crore in Q3, up 12.5% QoQ. The company also deployed over 20 lakh devices in Q3, up 54% QoQ.
Mindspace Business Parks REIT: Blackstone exited Mindspace Business Parks REIT by selling its stake to the Abu Dhabi Investment Authority, Moneycontrol reported, citing sources. The deal was struck for about $240 million, according to the report.
Spandana Sphoorty Financial: To raise upto Rs 300 crore from founder Kanchenjunga.
Axis Bank: Approves re-appointment of Rajiv Anand as deputy MD for 3 years.
Fortis Healthcare: A suit has been filed against the company along with others by Emqore Envesecure alleging copyright infringement, tortious interference with contracts, etc. and has claimed damages more than $6.5 billion from all defendants.
Bank of Baroda: The bank has cut overnight MCLR from 6.50% to 6.45% effective Jan. 12, 2022.
Take Solutions: The company has defaulted on loans of nearly Rs 238 crore from Siemens Bank and IndusInd Bank as of Dec. 31, 2021.
Sona BLW Precision Forgings: NCLT has sanctioned the scheme of amalgamation of Comstar Automotive Technologies with Sona BLW Precision Forgings and their respective shareholders.
SJVN: The company has been granted a Category “I” license for inter-state trading in electricity in the whole of India by Central Electricity Regulatory Commission.
JSW Ispat Special Products: The company reported production of 1.4 lakh tonnes of crude steel, a growth of 14% sequentially.
Antony Waste Handling Cell: The company reported growth of 22% in Q3 in operating revenue on YoY and sequential basis. Total tonnage handled by the Collection & Transportation reported around 13% growth YoY and around 3% growth sequentially, while total waste processed by the company during the quarter has improved by around 6% YoY and around 4% sequentially. Total compost sales rose 8.11% to 3,144 tons versus 2,908 tons in Q2.
RPSG: The company will consider fund raising proposal on Jan. 13.
Brookfield India Infrastructure: The company has called an Extraordinary General Meeting on Jan. 10 to consider proposal to borrow and create charge on assets, approve preferential issue of upto 52,87,01,04 units.
Timex Group India: Gets rights for Guess and GS Branded watches in India
Earnings: Delta Corp, National Standard (India)
Waaree Energies and Five-Star Business Finance have received SEBI approval for IPOs. SEBI issued an observation to Waaree Energies on Jan. 3 and to Five-Star Business Finance on Jan. 7.
Mindspace Business Parks REIT: Platinum Illumination A 2018 Trust bought 5.43 crore (9.1%) units at Rs 320 apiece. Brep Asia SG Pearl Holding NQ PTE sold 5.42 (9.1%) crore units at Rs 320 apiece.
Cerebra Integrated Technologies: Barclays Securities India bought 6.13 lakh (0.50%) shares at Rs 92.5 apiece.
NCC: KBC Eco Fund sold 32.55 lakh (0.53%) shares at Rs 73.52 apiece.
Vimta Labs: To announce Q3 results on Jan. 20.
Exide Industries: To announce Q3 results and consider declaration of interim dividend on Jan. 31
PNB Housing: To announce Q3 results on Jan. 20.
Gujarat Narmada Valley Fertilizers and Chemicals: To announce Q3 results on Feb. 4.
Ion Exchange: To announce Q3 results on Jan. 25.
Chambal Fertilizers and Chemicals: To announce Q3 results and consider declaration of interim dividend on Jan. 28.
PNB Housing: To announce Q3 results on Jan. 21.
Newgen Software Technologies: To announce Q3 results on Jan. 18.
Team Lease Services: To announce Q3 results on Jan. 25.
Rajratan Global Wire: To announce Q3 results on Jan. 18.
Polycab India: To announce Q3 results on Jan. 21.
LIC Housing Finance: To announce Q3 results on Jan. 19.
Sterlite Technologies: To announce Q3 results on Jan. 19.
Bharat Electronics: To announce Q3 results and consider interim dividend on Jan. 28.
Supreme Petrochemicals: To announce Q3 results on Jan. 21.
Prism Johnson: To announce Q3 results on Feb. 1.
Who’s Meeting Whom
Team Lease Services: To meet investors on Jan. 25.
CEAT: To meet investors on Jan. 20.
Polycab India: To meet investors on Jan. 21.
L&T Technology Services: To meet investors on Jan. 18.
Sterlite Technologies: To meet investors on Jan. 19.
Delta Corp.: To meet investors on Jan. 12.
Tejas Networks: To meet investors on Jan. 19.
Price Band Revised From 10% To 5%: Manali Petrochemical
Price Band Revised From 20% To 5%: Jaiprakash Power Ventures, Vardhman Holdings
Move Into Short-Term ASM Framework: Vardhman Holdings
Move Out Of Short-Term ASM Framework: Graphite India
Record Date Face Value Split: IPCA Laboratories
Ex-Date Demerger: GMR Infrastructure
Ex-Date Spin Off: GMR Infrastructure
Money Market Update
The rupee ended at 74.03 against the U.S. Dollar on Monday as compared to Friday's closing of 74.30.
JSW Steel cut to 'underperform' at Jefferies; price target set at Rs 600.
Navneet Education raised to 'buy' at Prabhudas Lilladher
Tata Steel cut to 'hold' at Jefferies; price target set at Rs 1,240.
Nifty January futures ended at 18,054.95; a premium of 51.65 points.
Nifty January futures added 5.05% and 10,367 shares in Open Interest.
Nifty Bank January futures ended at 38,513.25; a premium of 165.35 points.
Nifty Bank January futures added 5.96% and 5,594 shares in Open Interest.
Securities in the ban list: RBL Bank, Delta Corp
Securities added to the ban list: Indiabulls Housing Finance