All You Need To Know Going Into Trade On January 12
Asian stocks rose after a rebound in the U.S. equities after Federal Reserve Chair Jerome Powell reassured investors the central bank will contain price pressures.
Shares in Japan, Australia and South Korea gained. U.S. futures were volatile after the S&P 500 halted a five-day slide.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index's performance, rose 0.60% to 18,199 as of 7:15 a.m.
Elsewhere, Bitcoin traded above $42,500. Oil prices rose ahead of EIA crude oil inventory report, due today.
Stocks To Watch
Tata Consumer Products: The company has appointed Gharry Eccles as President – International Business with effect from January 17, 2022. Eccles will replace Adil Ahmad who will be retiring from the company on May 31, 2022.
Tata Teleservices: The company has decided to convert interest related to AGR dues of Rs 850 crore into equity. The government will hold approx. 9.5% stake as per company’s estimates. In October, the company had decided to opt for deferment of these dues.
Shriram Transport Finance: The company has raised $475 million Fixed Rate Senior Secured 144A /Reg S Bond (available ECB limit for FY22) for a 3.5-year tenor at an interest rate of 4.15%. The proceeds from the STFC social bond would be used for employment generation, including through MSME financing.
Delta Corp.: The company reported a net profit of Rs 70.38 crore in Q3 as compares to a loss of Rs 22.57 crore in the previous quarter. The revenue jumped more than double at Rs 247.22 crore in contrast to Rs 120.82 crore a year ago. The company also said that its online gaming business arm will explore an IPO by way of offer for sale of equity shares.
Ugro Capital: The company recorded total disbursements at Rs 414 crore in December 2021 as compared to Rs 319 crore in November. As a result, the overall AUM as on December 2021 stood at Rs 2,590 crore, up 97% since March 2021 and 130% since December 2020.
Marico: The company will consider second interim dividend on Jan. 28.
Hindalco: Novelis, a wholly owned subsidiary of the company, will build $365 million aluminum recycling plant in U.S. with annual capacity of about 240,000 metric tons of sheet ingot. It is expected to commence operations in 2024.
Indian Railway Finance Corporation: The company updated its global medium term note programme by increasing the principal amount of notes that may be issues from $4,000,000,000 to $7,000,000,000.
Ultratech Cement: The company has commissioned Line II of the Bara Grinding Unit in Uttar Pradesh taking its total cement manufacturing capacity in India to 114.55 mtpa.
DB Realty: The company has called for an extraordinary general meeting on Feb. 2 to alter the articles of association and increase authorized share capital from Rs 375 crore to Rs 450 crore taking equity shares from Rs 300 crore to Rs 37 crore. It has also proposed to issue fully convertible warrants on preferential basis.
RITES: The company has signed memorandum of understanding with SMEC group to explore infrastructure opportunities.
The Great Eastern Shipping company: The company bought back 30,000 shares at Rs 310.01 from Kotak Securities.
Choice International: The company will consider rights issue on Jan. 14.
KPI Global: The company commissioned 2.964 MW solar power project under Captive Power Producer segment.
Life Insurance Corporation of India likely to file IPO prospectus in the final week of January, reports Bloomberg.
Who’s Meeting Whom
Godrej Properties: To meet investors and analysts on Feb. 3.
Torrent Pharmaceuticals: To meet investors and analysts on Jan. 25.
GTPL Hathway: To meet investors and analysts on Jan. 17.
Pledge Share Details
Sterling and Wilson Renewable Energy: Promoter Kainaz Daruvala created a pledge of 29.33 lakh shares on Jan. 7.
Steel Exchange India: Societe Generale bought 5 lakh shares (0.57%) at Rs 226.02 apiece.
Rupa & Company: Abakkus Asset Manager LLP bought 14.45 lakh shares (1.82%) at Rs 465.5 apiece. Abakkus Growth Fund-2 bought 8.61 lakh shares (1.08%) at Rs 465.5 apiece.
Price Band Revised From 20% To 10%: Greaves Cotton, India Nippon Electricals, Kellton Tech Solutions
Ex-Date EGM: Sindhu Trade Links
Record Date Spin Off: GMR Infrastructure
Move Into Short-Term ASM Framework: Filatex India, Poonawalla Fincorp, Greaves Cotton, Indo Rama Synthetics (India), India Nippon Electricals, Kitex Garments, Maral Overseas, Monarch Networth Capital
Move Out Of Short-Term ASM Framework: Jubilant Industries, HCL Infosystems, Rama Steel Tubes
Move Into ASM Framework: Rama Steel Tubes, AYM Syntex, MEP Infrastructure Developers, Rohit Ferro-Tech
Money Market Update
The rupee ended at 73.91 against the U.S. Dollar on Tuesday as compared to Monday's closing of 74.03
Axis Bank cut to 'hold' at Arihant Capital; price target set at Rs 942
Equitas Small Finance: Haitong International initiated coverage with an 'outperform' recommendation
Indraprastha: Phillip Secs initiated coverage with a 'neutral' recommendation
Mahanagar Gas: Phillip Secs initiated coverage with a 'buy' recommendation; price target set at Rs 1,073
NMDC raised to 'overweight' at JPMorgan; price target set at Rs 210
Petronet LNG: Phillip Secs initiated coverage with a 'buy' recommendation; price target set at Rs 262
Power Grid cut to 'add' at ICICI Securities; price target set at Rs 225
Torrent Power cut to 'sell' at ICICI Securities; price target set at Rs 450
Nifty January futures ended at 18,085.05; a premium of 29.3 points.
Nifty January futures added 1.53% and 3,154 shares in Open Interest.
Nifty Bank January futures ended at 38,555; a premium of 112.8 points.
Nifty Bank January futures added 1.64% and 1,543 shares in Open Interest.
Securities in the ban list: RBL Bank, Delta Corp, Indiabulls Housing Finance.
Securities added to the ban list: Vodafone Idea.