Asia-Pacific stocks were largely down on Thursday, mirroring overnight losses on Wall Street. The Nikkei 225 in Japan fell 1.06 percent, the Kospi in South Korea rose 0.21 percent, and the S&P/ASX 200 in Australia fell 0.11 percent. The Hang Seng index in Hong Kong plummeted 0.72 percent, while the Shanghai Composite in Mainland China dipped 0.26 percent.
At 7:15 a.m., the SGX Nifty was down 83 points at 18,139.
Major US market indices fell overnight, with the S&P 500 having its worst day in more than a month. The Dow fell 1.81 percent, the S&P 500 fell 1.56%, and the Nasdaq Composite fell 1.24 percent, halting a seven-day winning run.
Here is a selection of equities to watch on Thursday, January 19:
Earnings today: Automobile Corporation of Goa, Anant Raj, Asian Paints, AU Small Finance Bank, CanFin Homes, Datamatics, Gujarat Credit Corporation, Happiest Minds Technologies, Hatsun Agro Product, Havells India, Hindustan Unilever, Hindustan Zinc, IIFL Wealth Management, India. MART InterMESH, ICICI Securities, Kuantum Papers, Martin Burn, Menon Bearings, Meghmani Finechem, Mahalaxmi Rub
Adani Enterprises: For its Rs 20,000-crore follow-on public offering, Adani Enterprises (AEL) has established a price band of Rs 3,112 and Rs 3,276 per share (FPO). The company’s shares recently closed at Rs 3,595 on the BSE.
The floor price is set at a 13.4% reduction to the previous closing, while the top end is close to 9% lower. AEL is offering an additional discount of Rs 64 to retail investors.
IndusInd Bank: IndusInd Bank reported a 58% year-on-year (YoY) increase in consolidated net profit to Rs 1963.64 crore in October–December on the strength of a robust rise in net interest income. A significant decrease in provisions for problematic loans increased the bank’s bottom line in Q3 FY23.
Vedanta: Metals and mining conglomerate Vedanta will pay Rs 1,440 crore for debt-ridden power unit Meenakshi Energy, the firm said in a stock market statement on Wednesday.
Mahindra Lifespace: The Mahindra Group’s real estate and infrastructure development business has been chosen as the preferred partner to renovate two neighbouring residential societies in Santacruz West. The project has a revenue potential of roughly Rs 500 crore for Mahindra Lifespaces.
Coal India: The government announced on Wednesday that it has set a coal output target of more than one billion metric tonnes (BT) for the next fiscal year. State-owned CIL has been tasked with producing 780 metric tonnes of coal, followed by Singareni Collieries Company Ltd. (SCCL) at 75 MT and captive and commercial mines at 162 MT.
Rallis India, a Tata Group company, reported a 43% drop in net profit for the December quarter (Q3FY23) to Rs 22.55 crore, compared to Rs 39.55 crore in Q3FY22. Revenue from operations grew to Rs 630.39 crore, up from Rs 628.08 crore the previous year.
Oracle Financial Services Software: Revenue for the information technology firm climbed to Rs 1,490.1 crore in Q3FY23 from Rs 1,301.9 crore in Q3FY22. It increased sequentially from Rs 1,421.6 crore to Rs 1,421.6 crore.Furthermore, its net profit was Rs 437.3 crore, up from Rs 435.3 crore year over year and Rs 397.7 crore quarter over quarter.
Persistent Systems: Revenues increased by 6% year on year to Rs 2,169.37 crore, matching street expectations. Earnings before interest and taxes (Ebit) increased 11.57 percent to Rs 333.21 crore, while the margin increased to 15.36 percent. Net profit increased 8.15 percent year on year to Rs 237.95 crore (against a Bloomberg forecast of Rs 239.87 crore). The board of directors approved a Rs 28 interim dividend per share.
Vivanta Industries: The Board of Directors has approved dividing one equity share of the firm into ten equity shares. The record date for the equity share subdivision will be determined in due course. Separately, the company has received orders worth Rs 52 crore.
Gulshan Polyols: Gulshan Polyols’ Board of Directors has authorised a proposal to acquire up to 40% of the equity share capital of JGN Sugar and Biofuels Private Limited.
Welspun Enterprises: The Board of Directors has approved the voluntary liquidation of the company’s wholly owned subsidiary, Welspun Natural Resources Private Limited (WNRPL).
SBI: The State Bank of India (SBI), the country’s largest lender, collected Rs 9,718 crore on Wednesday through the offering of 15-year infrastructure debt with a yield of 7.70%.
DCM Shriram: The business has notified the exchanges that the distillation capacity at DCM SHRIRAM, Sugar Unit: Ajbapur, has been increased from 200 KLD to 320 KLD.
Aurobindo Pharma: From January 9 to 18, 2023, the US Food and Drug Administration (US FDA) visited the company’s wholly owned subsidiary, APL Health Care Limited’s Units I and III, and the Derma Manufacturing plant in Jadcherla, Telangana. It received a “Form 483” with two observations at the end of the inspection.
KDDL: The Board of Directors has authorised a share repurchase at a maximum price of Rs 1,200 per share for a total of Rs 21 crore. This will be accomplished through the open market.