Despite cautious global indications, the SGX Nifty is indicating a flat-to-positive start on Wednesday. As investors anticipate the results of the Bank of Japan’s monetary policy meeting, Asia-Pacific equities traded neutral.
Japan’s Nikkei 225 rose 0.66 percent, Hong Kong’s Hang Seng index fell 0.17 percent, China’s Shanghai Composite rose 0.13 percent, Australia’s S&P/ASX 200 remained steady, and the Kospi fell 0.68 percent.
Overnight, the Dow Jones sank 1.14 percent, the S&P 500 declined 0.2%, and the Nasdaq Composite gained 0.14 percent.
Here is a selection of stocks to watch on Wednesday, January 18:
Earnings today: Aashka Hospitals, Alok Industries, Amal, Anubhav Infrastructure, Aurum PropTech, CCL Products (India), Central Bank of India, Cosyn, Elegant Floriculture and Agrotech (India), Goa Carbon, IndusInd Bank, Oracle Financial Services Software, Orosil Smiths India, Persistent Systems, PSP Projects, Rallis India, Shemaroo Entertainment, Stylam Industries, Supreme Holdings and
ITC: The firm has signed a binding term sheet to acquire 100 percent of the share capital (on a fully diluted basis) of Sproutlife Foods Private Limited, an Indian company principally involved in the business of production and distribution of food items under the brand “Yoga Bar.”
Adani Transmission, REC: Adani Transmission, REC has agreed to buy the entire share of WRSR Power Transmission Limited from REC Power Development and Consultancy Limited.
Sundram Fasteners: A top global car manufacturer has awarded the business a $250 million contract to provide subassemblies for its electric vehicle platform.
Dishman Carbogen Amcis: The company’s Board of Directors has approved a private issue of non-convertible debentures worth up to Rs 100 crore.
Life Insurance Corporation: LIC has boosted its shareholding in Coforge from 4.98 percent to 5.03 percent.
Delta Corp.: The firm reported a standalone net profit of Rs 74.2 crore for the quarter ended December 20, 2022 (Q3FY23), up from Rs 66.86 crore in the previous quarter. Revenue from operations climbed slightly year on year to Rs 166.1 crore from Rs 165.2 crore (YoY).
Tata Methinks: Tata Methinks reported a 73% drop in net profit for the December quarter, to Rs 9.48 crore, due to higher costs. According to a statement, the firm had a net profit of Rs 35.65 crore the previous year. Its overall income increased to Rs 792.43 crore from Rs 693.12 crore in the previous year’s October-December period.
Bank of India: The Bank of India stated that it anticipates gross non-performing assets (GNPAs) to be less than 7% in the current fiscal year (FY23). The lender’s GNPA ratio was 7.66% at the end of Q3 FY23, while the NNPA ratio was 1.61%. It reported a net profit of Rs 1,151 crore, up 12% year over year and 20% sequentially.
Paint, tyre, and OMC stocks: Paint, tyre, and OMC stocks are likely to be on investors’ minds after Brent crude prices increased nearly 2% overnight to hover around $85 per barrel.
RVNL: RVNL was named the Lowest Bidder (L1) for the Surat Metro Rail Project Phase-I (costing Rs 673.8 crore) and the Ahmedabad Metro Rail Project Phase-II (costing Rs 384.3 crore).
EID-Parry: Commercial operations have begun at the company’s new 120 KLPD distillery at its sugar factory in Sankili, Andhra Pradesh.
Eris Lifesciences: The Indian pharmaceutical company said on Tuesday that it will purchase a portfolio of dermatological brands from Glenmark Pharmaceuticals for Rs 340 crore ($41.63 million) in order to expand its foothold in the anti-fungal and anti-psoriasis markets. Separately, for the fiscal year ending December 31, 2022, the business recorded total income of Rs 425.495 crore and a net profit of Rs 101.859 crore.
Gokaldas Exports: Goldman Sachs Asset Management International has increased its investment in Gokaldas Exports from 4.985 percent to 5.003 percent.
ICICI Prudential Life Insurance Company recorded a 29% year-on-year drop in net profit for the third quarter of fiscal year 23 at Rs 220.63 crore on Tuesday. Meanwhile, net premium income increased by 4.3% year over year to Rs 9,465 crore. Net investment income more than tenfold increased year on year to Rs 7,722 crore.
ICICI Prudential General Insurance: ICICI Prudential General Insurance’s net profit increased by 11% year on year to Rs 353 crore, supported by higher gross premiums.
Tata Investment Corp.: Tata Investment Corp.’s net profit declined 59.5 percent year on year to Rs 14.8 crore in the December quarter, while revenue fell 53% to Rs 24.8 crore.
Hathway Cable and Datacom: The company’s consolidated net profit for Q3FY23 fell 15.3 percent year on year to Rs 28.74 crore. Year on year, consolidated income increased by 5% to Rs 478.45 crore.
Stocks in the F&O ban include: Delta Corp., GNFC, Indisbulls Housing Finance, and L&T Finance Holdings.