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Early on Thursday, SGX Nifty futures were up 51 points at 18,162 levels, following gains in Asian rivals. The majority of A-Pac markets increased today as investors discounted the US Federal Reserve’s pledge to raise interest rates in order to combat inflation.
The Nikkei 225 in Japan increased by 0.35 percent, the S&P/ASX 200 in Australia up by 0.42 percent, and the Kospi in South Korea increased by 0.71 percent.
The Dow Jones Industrial Average gained 0.4% throughout the course of the night, while the S&P 500 gained 0.75 percent and the Nasdaq Composite gained 0.69 percent.
Here’s a list of stocks in focus for Thursday, January 5:
M&M Financial Services: Mahindra & Mahindra Financial Services Limited is no longer subject to Reserve Bank of India (RBI) regulations that prevented it from engaging in outsourcing-related recovery or repossession activities.
Separately, on Friday, February 3, 2023, the Board of Directors will meet to discuss and approve the Company’s unaudited standalone and consolidated financial results for the third quarter and nine months ended December 31, 2022.
IndiGo and SpiceJet: According to reports, the price of Aviation Turbine Furel (ATF) in Delhi was reduced on Thursday morning by about 8% to Rs 1,08 Lk/kL from Rs 1.17 Lk/kL.
Indus Towers: On Wednesday, the telecom infrastructure provider announced the appointment of Prachur Sah as managing director and CEO of the business, effective January 3, 2023. Since Bimal Dayal’s resignation in July, the job has been vacant.
Bajaj Finance: In a Q3 business update, Bajaj Finance said that new loans booked during Q3FY23 were at an all-time high of 7.8 million, up from 7.4 million in Q3FY22. AUM increased from Rs 1.81 trillion at the end of Q3FY22 to about Rs 2.31 trillion at the end of Q3—a 27 percent increase. AUM increased by around Rs 12,500 crore in Q3FY23.
The company’s customer franchise increased by the most ever quarters, by 3.1 million, in Q3FY23.
Marico: The company reported in a business update that during the December quarter, the sector saw modest recovery in demand, which was especially apparent in certain categories spurred by the holiday spirit and impending winter season. The India company posted a mid-single-digit volume growth, which was a little improvement over the prior quarter.
Oil Marketing Companies: After the US Federal Reserve’s most recent policy meeting minutes excluded interest rate reductions in 2023, Brent crude prices fell more than 5% overnight to $78 per barrel.
Analysts said that the third quarter of 2022–23 (FY23), which covers October–December, is projected to show a decrease in operating losses for Indian OMCs following two quarters of tight profit-margin contraction due to global volatility.
Adani Ports and SEZ: APSEZ carried close to 25.1 million metric tonnes (MMT) of total cargo in December 2022, indicating an increase of 8% in container volumes.
Likhitha Infrastructure: During the three-month period from October 2022 to December 2022, the company got orders totaling Rs. 457.39 crore (excluding of GST) from various oil and/or gas distribution companies.
Srei Infrastructure Finance: In the auction for Srei Infrastructure Finance and Srei Equipment Finance, National Asset Reconstruction Company (NARCL) has emerged as the top bidder. According to banking sources, NARCL’s bid was the highest with a net present value (NPV) of Rs 5,555 crore.
RBL Bank: During the December quarter (Q3FY23), the lender’s gross advances increased 14% year over year (YoY) to Rs 68,371 crore, while deposits increased 11% YoY to Rs 81,746 crore. Deposits at CASA increased by 18% year over year, and the ratio improved by 220 basis points.
SJVN: The Cabinet Committee on Economic Affairs has authorised a $2,614 million investment in Himachal Pradesh’s 382 Mega Watt Sunni Dam Hydroelectric Project. Within 63 months of the start of development, the project is expected to be completed and will produce 1,382 million units yearly.
KIMS: The Board of Directors has given the go-ahead for KIMS to issue Non-Convertible Debentures (NCDs) totaling Rs 300 crore in one or more tranches over the course of time in order to raise money.
IRB Infrastructure Developers: The Board of Directors has approved splitting the company’s current equity shares from one to ten.
Nalco: To discuss the interim dividend, if any, for the fiscal year 2022–2023, the Board of Directors will meet on Tuesday, January 17, 2023. (FY23).
HPCL: Hindustan Petroleum Corporation Ltd. has entered the petrochemical industry by launching the pre-marketing of polymers under the “HP DURAPOL” brand. This is a step before the petrochemical products of HPCL Rajasthan Refinery Limited (HRRL) are marketed.
Separately, HPCL and NTPC Green Energy Ltd have signed a Memorandum of Understanding that outlines their intentions to work together and share resources in the areas of renewable energy (RE), energy storage projects, RTC power, electric mobility, the solar wind value chain, and meeting HPCL’s green power needs.
HUL: Hindustan Unilever Limited has finalised the purchase of 19.8% of Nutritionalab’s shares for a value of Rs 70 crore.