Pre Market Report: SGX Nifty indicates positive opening for Indian indices; Adani Ports, Bajaj Finance and HPCL in news

Market Opening - An Overview

Nifty futures on the Singapore Exchange were trading 0.28% higher at 18,162, signalling that Dalal Street was headed for a positive start on Thursday.

Asian shares were trading higher with Hing Kong leading the rally as investor sentiments were boosted by China’s reopening of the economy. The Nikkei 225 index wasa up 0.34% and the Topix index slipped 0.05%. The Hang Seng index jumped 1.5% and the CSI 300 index rose 1.44%.

Indian rupee fell 8 paise to 82.80 against the US dollar on Wednesday.

FII/DII Trading Data

Stocks in News Today

Adani Ports and SEZ: The company has handled 25.1 million tonne cargo in December 2022, witnessing a growth of 8% YoY. For the 9 months ended December, the company saw 8% on year growth in cargo volumes to 253 million tonne.

Bajaj Finance: The NBFC has booked 7.8 million new loans in the quarter ended December 2022, compared with 7.4 million a year ago, according to provisional figures. The new loans booked in the last quarter were the highest-ever for the company. The company’s liquidity position remains strong, with the consolidated net liquidity surplus at Rs 12,750 crore at the end of the last quarter.

Hindustan Petroleum Corporation (HPCL): The company has forayed into petrochemical business with pre-marketing of ‘HP Durapol’ brand of polymers, which is a pre-cursor to marketing of HPCL Rajasthan Refinery (HRRL) petrochemical products. HRRL sees a 9-MMTPA-capacity grassroot refinery-cum-petrochemical complex at Pachpadra in Rajasthan.

Bharti Airtel: The company will allot 8.35 million shares on conversion of dollar-denominated bonds due in 2025. The bonds can be converted into fully paid-up equity shares of 5 rupees each by February 7, 2025.

Hindustan Unilever: The FMCG major has completed the acquisition of 19.8% shareholding of Nutritionalab, for Rs 70 crore.

Marico: The company’s consolidated revenue in Q3FY23 grew in low single digits on a year-on-year basis. It expects gross and operating margins to improve both YoY and sequentially, but operating profit could see a moderate growth.

NTPC: The company’s subsidiary, NTPC Green Energy (NGEL), has signed a non-binding memorandum of understanding (MoU) with Hindustan Petroleum Corporation for development of renewable energy based power projects. NTPC will tap business opportunities in renewable energy and supply 400 MW round the clock renewable power for requirements of HPCL.

AU Small Finance Bank: The lender’s gross advances rose 7% sequentially to Rs 56,335 crore as of December 31, according to the provisional data. The total deposits at Rs 61,101 crore was up 5% sequentially.

RBL Bank: The bank’s gross advances rose 14% YoY to Rs 68,371 crore as on December 31, according to provisional data. Sequentially, the advances rose 6%. Retail loans rose 12% on year and 7.0% sequentially, while wholesale loans increased by 17% on year and 5% sequentially.

SJVN: The Cabinet Committee on Economic Affairs has approved investment of Rs 2,614 crore for company’s 382 MW Sunni dam hydroelectric project in Himachal Pradesh. The project is scheduled to be commissioned within 63 months of the commencement of construction works and will generate 1,382 million units annually. On completion of the project, the company will earn 16.50% return on the equity infusion. The investment will be 70% debt and 30% equity.

M&M Financial: The Reserve Bank of India has lifted the restrictions on the NBFC major for carrying out loan recovery or repossession activities through outsourcing arrangements with third parties.

HT Media: The National Company Law Tribunal has refused to admit an insolvency petition by JHS Svendgaard Laboratories Ltd against the company on grounds of pre-existing dispute between the parties.

IRB Infrastructure Developers: The board has approved sub-division of one equity share with face value of Rs 10 into 10 equity shares with face value Rs 1.

RHI Magnesita: The company’s board meeting will be held to issue and allot 2,70,00,000 equity shares on a preferential basis to DBRL.

VLS Finance: The company’s board meeting will be convened for considering share buyback. Pacific Industries: The company’s board meeting will be held to consider rights issue of shares

Krishna Institute of Medical Sciences: The company has received board approval for raising of funds via issuance of non-convertible debentures (NCDs) of Rs 300 crore in one or more tranches over a period of time. This is subject to shareholders approval.

GR Infraprojects: The company’s subsidiary, GR Bhimasar Bhuj Highway, has received a letter from the National Highways Authority of India declaring appointed date as January 2, 2023, for the road project. The project includes upgradation to four lane with paved shoulder of NH341 from Bhimasar, Junction of NH-41 to Anjar – Bhuj upto Airport Junction in Gujarat on hybrid annuity mode. The bid project cost is Rs 1,085 crore.

Likhitha Infrastructure: The company has received total orders worth Rs 457.39 crore from various oil & gas distribution companies during the quarter ended December FY23 including order worth Rs 120 crore received on January 2, 2023.