Brokerages pin TCS’s subdued revenue growth on the usual seasonal slump, amplified by higher furloughs, tapering contribution from the BSNL deal, and a dry spell in major deal wins during Q3….Read More
Tata Consultancy Services, Tata Elxsi, Indian Renewable Energy Development Agency, GTPL Hathway, Yash Highvoltage, Padam Cotton Yarns, and Vivo Bio Tech will release their quarterly earnings scorecard on January 9.
#1 RBI’s lifting of ban on Asirvad Finance is a positive
#2 Disbursement in the segment should stay muted near term given stress in MFI segment
#3 Removal of ban was largely expected
#4 Removal of ban reflected in recent rebound in company’s share price to pre-ban levels
#5 Valuation seems attractive, but near-term results drag due to stress in MFI portfolio can weigh
Stocks to Watch, Jan 9: Stocks like Borosil Renewables, PI Industries, Everest Organics, Zee Media, Celebrity Fashions, Vrundavan Plantation, and Money Boxx will also be in focus on January 9…Read More
Nifty witnessed smart upside recovery from the lows on Wednesday after showing a deep cut in the early-mid part of the session and settle the day lower by 18 points. Nifty opened on a positive note and slipped into sharp weakness soon after the opening. The market has started to recover from the swing low of 23496 levels and the upside recovery extended in the mid to later part of the session.
A small red candle was formed on the daily chart with long lower shadow. Technically, this market action indicates a formation of ‘hammer’ type candle pattern. Normally, such hammer formation after a reasonable decline calls for an impending trend reversal on the upside post confirmation.
Though, Nifty placed below the crucial 200day EMA at 23700 levels, there is an absence of sharp break down below this key support. This 200 DEMA has offered significant trend reversal on upside in the past.
The short term trend of Nifty remains weak. But the smart upside recovery from near 23500 levels is indicating chances of an upside bounce in the coming sessions. A sustainable move above the hurdle of 23800 levels could confirm upside bounce in the market. Immediate support is placed at 23496 levels.
#1 NMDC cuts lump ore & fines prices by Rs 350/tonne effective today
#2 BHEL commissions unit-1 & 2 of 6×170 MW Punatsangchhu-II hydroelectric project in Bhutan
#3 Hindalco: Novelis to offer USD 500 millon senior notes due 2030 in private offering
#4 Tata Motors: Q3 JLR retail sales down 3 percent YoY; wholesales up 3 percent YoY
#5 PN Gadgil Q3 Update: Consolidated growth of 24 percent YoY
#6 Acme Solar Holdings commissions 62 MW & 28 MW capacity solar power projects in Rajasthan
#7 Anand Rathi Wealth to consider bonus issue on Jan 13
#8 Lupin gets US FDA EIR for Pithampur Unit-1 with VAI classification
#9 Manappuram Finance: RBI lifts supervisory restriction on Asirvad Micro Finance
#10 Zee Media to consider fund raising on January 13
JSW Cement, part of the Sajjan Jindal led infrastructure-to-metals conglomerate, JSW group, has received the nod from Sebi for its Rs 4,000 crore initial public offer, multiple industry sources in the know told Moneycontrol on the condition of anonymity. The firm had filed its draft red herring prospectus on August 17.
Market seems to be going into the Budget with low expectations thereby any chance of a negative surprise is moderate, Niraj Kumar of Future Generali India Life Insurance Company said….Read More
Oil prices fell on Thursday, extending losses from the previous day, pressured by large builds in U.S. fuel inventories last week, though concerns over tighter supplies from OPEC members and Russia capped the decline.
Brent crude futures fell 28 cents, or 0.4%, to $75.88 a barrel. US West Texas Intermediate crude futures dropped 30 cents, or 0.4%, to $73.02.
#1 Cyclical challenges are abating in refining, but continue in retail – but find this priced in
#2 As new refining capacity is absorbed, retail profitability improves, re-rating should regain traction
#3 As new energy cash flows kick in, re-rating should regain traction
#4 Company stands at number 4 in preference order
The GIFT Nifty is indicating a flat to negative start for the day. US stocks ended little changed on Wednesday in a session they struggled for a clear direction, as investors digested the impact of two conflicting sets of jobs data and a report that said President-elect Donald Trump was mulling a national economic emergency declaration on inflation….Read More
#1 Asian markets fall as FOMC minutes signal higher-for-longer rates amid inflation worries
#2 GIFT Nifty hints at negative start
#3 FOMC minutes signal upside risks to inflation outlook has increased
#4 Wall Street ends mixed: S&P 500 ekes out gains, Nasdaq extends losses
#5 ADP Private Sector Employment rises by 122,000 Jobs in December
#6 Trump considers declaring national economic emergency to impose tariffs: Reports
#7 European markets end lower amid declining economic sentiment
#8 US 10-year yield briefly tops 4.7% as inflation outlook fuels concerns
#9 Dollar index stays above 109 amid concerns over Trump’s tariff plans
#10 Gold climbs after weaker-than-expected private payrolls data
#11 Oil falls on US fuel stocks build, dollar strength; Brent back below USD 76