Pre Market Analysis: Dalal Street may open lower; RIL, Maruti Suzuki and Marico in news today

Market Opening - An Overview

Nifty futures on the Singapore Exchange were trading 0.12% lower at 17,686 signalling that Dalal Street was headed for a flat to negative start on Tuesday.

Asian shares were mixed as Japanese markets rose tracking the US markets, which settled at record highs on Monday, with Apple becoming the first company to hit the $3 trillion mark in market capitalisation. Meanwhile, Chinese indices were trading in the negative territory. Japan’s Nikkei and Topix rose 1.38% and 1.27%, respectively. China’s Hang Seng fell 0.44% and CSI 300 index was down 1.32%.

Indian rupee rose 7 paise to 74.26 against the US dollar on Monday.

FII/DII Trading Data on Monday (03-01-2022)

CategoryBuy ValueSell ValueNet Value
*All numbers are in INR crore

Stocks in News Today

Reliance Industries Ltd (RIL): Sterling and Wilson Renewable Energy Ltd (SWREL) said that Reliance New Energy Solar Ltd (RNESL), a subsidiary of RIL, has become its promoter post payment of balance Rs 1,583 crore for acquisition of 25.90% equity in it. With this transaction, RNESL and other group firms together hold over 40 per cent stake in SWREL.

Maruti Suzuki: The automaker said that it has shipped over two lakh vehicles in 2021, its highest ever in a calendar year, to various markets across the globe. The company exported 2,05,450 vehicles in 2021, the carmaker said in a statement. The top five export models in 2021 were Baleno, Dzire, Swift, S-Presso and Brezza.

Marico: The FMCG company’s revenue growth is expected to be in double digits in the third quarter of FY22 but its volume growth is expected to be flat, it said in a quarterly update before announcing results. The company said that the fast-moving consumer goods sector witnessed slowing consumption pattern, mainly due to inflation impacting overall disposable incomes.

HDFC: The country’s largest mortgage lender said it assigned loans of Rs 7,468 crore in the quarter ended December 2021, up by 5.5% from  Rs 7,076 crore in the year-ago period. 

Tech Mahindra: The IT company major announced it has achieved the Data Analytics specialisation certification in the Google Cloud Partner Advantage Program, strengthening its expertise in data analytics space.

Olectra Greentech: The Hyderabad-based country’s largest manufacturer of electric buses said it has received a letter of award (LoA) for 50 e-buses from “one of the state transport authorities” for inter-city operations under the central government’s FAME-II scheme. These buses are to be delivered in 12 months.

IndiGo: The budget carrier is limiting its operations to Kolkata, Durgapur and Bagdogra from Delhi and Mumbai, to only Monday and Friday in line with the West Bengal government directives. The restrictions were due to curbs announced by the state government to contain the spread of Covid-19 amid a surge in cases. The airline added that the limited capacity may lead to inflationary impact on the airfares on these routes.

Tata Power: The company said that Sanjeev Churiwala has joined the company as its new Chief Financial Officer. Ramesh Subramanyam, the erstwhile CFO, will be moving into a new role within the Tata Group, the company said in a statement. Churiwala has more than 27 years of corporate experience spanning across the financial services sector.

Oil and Natural Gas Corporation (ONGC): Alka Mittal, the Director for Human Resources (HR) at ONGC has been given the additional charge as the public sector undertaking’s Chairman and Managing Director (CMD). This late-night development comes two days after Subhash Kumar, the Director (Finance) who was holding additional charge of CMD, superannuated on December 31, 2021.

Hindustan Zinc Ltd: The company Monday reported an 11% rise in integrated metal production at 2,61,000 tonnes in the third quarter of this fiscal, supported by better plant and mined metal availability and improved operating parameters. The company’s integrated metal production stood at 2,35,000 tonnes in the year-ago period, it said in a regulatory filing. Integrated zinc production was at 214,000 tonnes, up 17 per cent as compared to Q3 FY’21.

Dhani Services (Indiabulls Ventures): The company will launch its Rs 300 crore fundraise programme through a public issue of bonds on Tuesday. The non-convertible debenture (NCD) issue has a base size of Rs 150 crore with an option to retain oversubscription of up to Rs 150 crore, aggregating to Rs 300 crore. The issue opens on January 4, 2022 and closes on January 27, 2022 with an option of early closure or extension.