Due to the caution of the majority of international investors, equity markets may open Tuesday’s trading session on a shaky note. The SGX Nifty was down about 70 points at 18,153 levels at 7:10 AM.
Early today trades saw the South Korean Kospi down 1.5% while the Australian ASX200 fell 1.7%. Hong Kong’s Hang Seng fell 2%, and China’s Shanghai Composite index was slightly in the red.
On January 3rd, investors will be keeping an eye on the following stocks:
Zomato: Gunjan Patidar, the company’s co-founder and chief technology officer, has left Zomato. Patidar was a member of the Zomato founding group. His departure is the most recent in a recent run of well-known resignations.
ONGC and Reliance Industries: Late on Monday, the Central government increased the windfall tax on gasoline, crude oil, and aviation turbine fuel. Effective as of Tuesday, it increased the windfall tax on crude oil from Rs 1,700 ($20.55) per tonne to Rs 2,100 ($25.38).
In the meantime, ONGC’s “Sagar Samrat” has begun producing oil and gas in the Arabian Sea.
Zee Entertainment: The media business announced to the stock markets on Monday that an operating creditor has launched an insolvency lawsuit against Zee Entertainment Enterprises (Zee) for Rs 211 crore. The business said that it would file a reply rejecting the claim on the grounds that the parties already disagreed over the claimed sum.
Maruti Suzuki: The largest domestic automaker in India, Maruti Suzuki, saw a fall in passenger vehicle production volume of 16.5% year over year in December 2022. The total output, which includes light commercial vehicles, decreased by 18%. The business acknowledged that a lack of electronic parts had some effect on vehicle production throughout the month, despite its best efforts to minimise the effect.
M&M Financial Services: In December 2022, the non-bank finance company disbursed loans of over Rs 4,650 crore, representing a rise of 67% year over year (YoY). While the YTD distribution (Rs. 35,750 crore) saw a YoY growth of 95%, the Q3 disbursements, at about Rs. 14,450 crore, saw an increase of 80% YoY. For December 2022, the Collection Efficiency (CE) was 98%.
L&T: S N Subrahmanyan, CEO & MD of Larsen & Toubro, has issued a warning that the most recent surge in Covid-19 cases in numerous countries will make 2023 tough for the entire world. While praising the government’s proactive attitude to infrastructure, he claimed that supply lines were interrupted by the Russia-Ukraine war, which was the reason for the skyrocketing prices of oil, gas, and other commodities.
India PTC: PTC India, a provider of power trading solutions, announced on Monday that its shareholders had authorised a final dividend of Rs 5.80 per equity share for the years 2021–2022. According to a business release, this final payment is in addition to the interim dividend of Rs 2 per equity share.
PSP Projects: The business won the contract for a government project worth Rs 1,364.47 crore for the Surat Municipal Corporation as the Lowest Bidder (L1).
Likhitha Infrastructure: During the three-month period from October 2022 to December 2022, the company got orders totaling Rs 120 crore from a number of oil and gas distribution companies.
HFCL: Reliance Projects & Property Management Services Limited has given the firm and its material subsidiary, HTL Limited, purchase orders totaling Rs 95.38 crore for the provision of optical fibre cables to one of the top private telecom carriers.
