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Market Opening - An Overview
Nifty futures on the Singapore Exchange were trading 0.15% lower at 18,196.50, signalling that Dalal Street was headed for a negative start on Tuesday.
Most Asian shares were trading lower after data showed Chinese manufacturing activity shrinking for a fifth straight month in December 2022 amid rapid spread of coronavirus infections in China. The Nikkei 225 index was flat, while Topix fell 0.19%. The CSI 300 index was down 0.36% and the Hang Seng rose 0.57%.
Indian rupee fell 2 paise to 82.73 against the US dollar on Monday.
FII/DII Trading Data
Stocks in News Today
Oil and Natural Gas companies: The Central government raised windfall tax on petroleum, crude oil and aviation turbine fuel late on Monday. It raised windfall tax on crude oil to Rs 2,100 ($25.38) per tonne from Rs 1,700 ($20.55), effective on Tuesday. The rise is expected to affect the profit margin of oil and natural gas companies. Meanwhile, ONGC ‘Sagar Samrat’ has started Oil and Gas production in Arabian Sea.
Zomato: Gunjan Patidar, co-founder and chief technology officer of the company, has tendered his resignation. Patidar was one of the first employees of Zomato and built the core tech systems for the company.
Mahindra & Mahindra Financial Services (MMFS): The NBFC said the business continued its momentum with the disbursement of Rs 4,650 crore, a 67% YoY growth led by a positive macro environment in December 2022. In Q3FY23, disbursements stood at Rs 14,450 crore, an 80 percent growth YoY. The year-to-date (YTD) disbursement stood at Rs 35,750 crore, up 95% YoY. Its collection efficiency (CE) was at 98% for December 2022 and for Q3FY23 it was 95%.
Hindustan Zinc: The company’s mined metal production at 254kt increased by 1% YoY driven by higher ore production and down 1% QoQ due to overall mined metal grades, while refined metal production at 257kt fell 2% YoY as per mined metal availability, but sequentially grew 5% with better plant and mined metal availability. Wind power generation for Q3FY23 at 50 million units, down 15% YoY and down 59% QoQ, owing to lower wind velocity and seasonality impact.
IRCTC: The Indian Railways registered a 71% jump in revenue from the passenger segment between April 2022 and December 2022, according to a statement by the Ministry of Railways. The revenue during the period stood at Rs 48,913 crore vs Rs 28,569 crore last year.
Nazara Technologies: India has proposed self-regulatory bodies for online gaming companies operating in the country. The proposal came after a recommendation by a government panel on creating a regulatory body to classify online games as based on skill or chance, introduce rules to block prohibited formats and take a stricter stance on online gambling.
Birlasoft: The company said in an exchange filing that Chandrasekar Thyagarajan – Chief Financial Officer of the Company, has tendered his resignation due to personal reasons. He will be relieved from his duties on February 2, 2023.
Dabur India: The proposed acquisition of a 51% stake in Badshah Masala was completed on Monday and Badshah Masala has become a subsidiary of Dabur.
HFCL: The company along with its subsidiary HTL has received orders worth Rs 95.38 crore from Reliance Projects & Property Management Services for the supply of optical fibre cables to one of the leading private telecom operators of the country. The orders will be executed by February 2023.
PSP Projects: The company has emerged as the lowest bidder (L1) for a government project worth Rs 1,364.47 crore in Gujarat. It will construct a high-rise office building at Surat for Surat Municipal Corporation.
Likhitha Infrastructure: The company has received orders worth Rs 120 crore from various oil and gas distribution companies during the quarter ended December 2022.
South Indian Bank: The Kerala-based private sector lender has clocked 18% year-on-year growth in gross advances at Rs 70,168 crore for the quarter ended December FY23 and deposits in the same period grew by 3% to Rs 90,714 crore. CASA ratio improved to 33.84%, from 31.95% YoY.
Indian Bank: The bank has increased lending rates, including the marginal cost of funds-based lending rates (MCLR), by up to 25 basis points. The new rates are effective from January 3.
CSB Bank: The bank’s gross advances surged 25.74 per cent YoY in December to Rs 18,643 crore vs Rs 14,827 crore last year. Its deposits, meanwhile, grew 18.9 per cent to Rs 22,664 last month.
Karnataka Bank: The lender’s aggregate deposits rose about 8% YoY to Rs 84,592.6 crore at the end of December 2022 as against Rs 78,424.86 crore in December 2021. Its CASA climbed 9.9% YoY, while gross advances were up 12.3% YoY to Rs 63,658.59 crore.
Safari Industries: Safari Manufacturing Limited, the wholly owned subsidiary of the Company, successfully commenced its additional commercial production/manufacturing of luggage on Monday at its factory situated at Halol, Gujarat.
PTC India: Power trading solutions provider PTC India on Monday said its shareholders have approved a final dividend of Rs 5.80 per equity share for 2021-22. This final dividend is in addition to the interim dividend of Rs 2 per equity share, a company statement said.
Family Care Hospitals: Shares of the company will trade ex-rights for its rights issue of 127 shares against every 100 shares held offered at the price of Rs 12 per share.
Vaxfab Enterprises: Shares of Vaxfab Enterprises will trade ex-rights for rights issue of 6 shares for every 1 share held at the rate of Rs 18 per share.