Market Highlights

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Get the latest Indian stock / share market highlights, BSE/NSE stock news, business research reports & details - updated daily by Money Times.

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January 02, 2025

• May the New Year bring you:
• * Sharp insights: May your market analysis be razor-sharp, anticipating trends and identifying opportunities with precision.
• * Calm nerves: May you navigate the inevitable market volatility with unwavering composure, making rational decisions even in the face of uncertainty.
• * Discipline and patience: May you stick to your trading plan with unwavering discipline, resisting the urge to overtrade or panic sell, and reap the rewards of long-term patience.
• * Lucrative returns: May your portfolio flourish, yielding consistent and substantial profits that exceed your expectations.
• * Continuous learning: May you embrace continuous learning, refining your trading strategies and adapting to the ever-evolving market landscape.
• And above all, may the New Year bring you joy, fulfillment, and success in all aspects of your life.
• I hope this resonates with stock market traders!
• Disclaimer: This is a general message and does not constitute financial advice.
• PTC Industries commissions India's first aerospace-grade Titanium VAR facility.
• UGRO CAPITAL: Update On Datasigns Technologies Private Limited (“DTPL”) Acquisition
• Company has entered into a Share Purchase Agreement (SPA) and Shareholders’ Agreement (SHA) on January 01, 2025, for acquisition of shares of DTPL from its existing shareholders.
• DHANUKA AGRITECH: Smt. Urmila Dhanuka, a member of the Promoter Group of the Company, passed away on December 31, 2024.
• PRAVEG: CO CAVES JAWAI LAUNCHES OPERATIONS AT JAWAI, RAJASTHAN
• CO CAVES JAWAI IS PROJECTED TO ACHIEVE AN OCCUPANCY RATE OF 60% TO 70% REFLECTING THE RISING DEMAND FOR HIGH-END STAYS || WITH AVERAGE ROOM RATES RANGING FROM INR 18,000 TO INR 22,000
• PRAVEG: CO CAVES JAWAI LAUNCHES OPERATIONS AT JAWAI, RAJASTHAN
• CO CAVES JAWAI IS PROJECTED TO ACHIEVE AN OCCUPANCY RATE OF 60% TO 70% REFLECTING THE RISING DEMAND FOR HIGH-END STAYS || WITH AVERAGE ROOM RATES RANGING FROM INR 18,000 TO INR 22,000
• Nibe Ordnance
• Approval of rights issue for Rs. 1.50 Crores.
• INSIDER TRADE ALERT:
• -KILBURN ENG
• Promoter bought 0.06%
• -ALMONDZ GLOBAL
• Promoter Bought 0.11%
• -ARCHIT ORGANOSYS
• Promoter Bought 0.07%
• -Harshdeep Hortico
• Director Bought 0.01%
• -Riddhi Steel
• Director Bought 0.03%
• MORGAN STANLEY ON MUTHOOT FINANCE
• Maintain Equal-Weight, TP 1825
• Raise F25/26/27 EPS estimates by 1.6% / 3.4% / 3.8% as F24-27 AUM CAGR to ~20% from ~19% earlier.
• Raise our F25-27 NIM to average 11.6% from 11.5% earlier
• Reduce  cost of equity by 50bp to 12.5%
• Together with the earnings increase, this drives ~14% increase in  SOTP scenario values and price target.
• EXIDE , AMARA RAJA ; FM Nirmala Sitharaman to present Budget in February. EV industry expects reduced GST on batteries, infrastructure status for charging stations, and manufacturing incentives to boost affordability.- ET
• CITI ON KOTAK MAHINDRA BANK
• Upgrade to 'Buy', target price at Rs 2070
• Initiate 90-days positive catalyst watch
• Sustain loan growth momentum
• P/L with improved delinquency trends to gather pace
• Credit cost expectations already set in higher
• Tweaking medium-term growth with relatively low beta
• MORGAN STANLEY ON SBI CARD AND PAYMENTS
• Maintain equal weight, TP 685
• Cut F25 EPS by 4.7%, reduce ouspending growth (~4% YoY from ~10% earlier) and receivables growth (~15% YoY from ~23% earlier) assumptions
• Raise FY25 credit cost assumption by 10bp to 8.65%.
• The higher NIM assumptions in F26-27 and lower credit costs drive ~5% increases in both FY26 and F27 EPS estimates.
• The earnings increases drive ~5% increases in our scenario values and price target
• PAYTM , MOBIKWIK ;UPI transactions in December increased 8% month-on-month and 39% year-on-year.
• INVESTEC ON NTPC
• Maintain Buy, target price of Rs 421 (From Rs 457)
• Stock correction presents opportunity
• Strong and stable coal-based capacity across regulated business model
• Risk averse regulatory business model
• Evolution into cleaner energy by focusing on adding renewable capacities
• Assign 25% holding discount to green business
• JPMORGAN ON PREMIER ENERGIES
• Maintain Neutral, target price at Rs 1148
• Facilities are ramping up output
• Driving strong revenue and returns momentum
• Fifth-largest solar module manufacturer in India
• Intends to build new 4+4 GW cell and module facilities by 2026, which should help drive scale further
• MS ON AUTOS
• 2-wheeler Retails Weakened While PVs Saw An Improvement In Trends
• In Terms Of Wholesales, Maruti Was A Positive Surprise
• Est Maruti Ended Month With 10/12 Days Of Inventory As Retails Saw Early Single-sigit Growth
• Bajaj Was Weaker Than Estimates
• Preferred Overweight Remains Maruti, M&M, Hyundai Motor & Ashok Leyland
• CLSA ON WIPRO
• (CMP: 300)
• DOWNGRADE HOLD
• TARGET: 303
• Downgraded Due To Recent Stock Outperformance
• Expect Co To Remain A Laggard With Flat CC QoQ Growth In Q3
• In 2024 Wipro Saw Earnings Downgrades Of 1% & P/E Rerate From 19.7XΧ Το 24.4Χ
• The Next Leg Of Rerating For Wipro Can Only Be Achieved If It Starts Growing In-line With Peers
• CLSA ON IT SECTOR
• 2025 OUTLOOK
• Improved client sentiment not yet percolating in management commentary
• In 3QFY25 we expect revenue growth guidance from both INFY and HCL for FY25 to improve further
• Stable demand commentary and improved client sentiment following the US election
• Recent sharp rupee depreciation is an incremental tailwind for earnings from both translational and transactional perspectives
• Increase our EPS estimates largely on account of a revised USD/INR assumption
• Downgrade Wipro to Hold from OverWeight-portfolio, target price at Rs 303
• CITI on Maruti (CMP: ₹11,208):
• Maintain Buy, Target: ₹13,500
• Strong 24% YoY growth in domestic volumes (Excluding sales to Toyota)
• Surprising 29% YoY growth in small cars!
• December volumes up 30% YoY
• No extraordinary inventory build-up during the festive season
• STOCKS MOVED TO SHORT TERM ASM LIST
• ABM Knowledgeware Ltd
• Dc Infotech and Communication
• Royale Manor Hotels & Industrie
• Sadhana Nitro Chem Ltd*
• STOCKS MOVED OUT FROM SHORT TERM ASM LIST
• Alfavision Overseas India Ltd
• Ashnoor Textile Mills Ltd
• Dishman Carbogen Amcis Ltd
• Maestros Electronics
• Narmada Agrobase Ltd
• Northern Spirits Ltd
• Paisalo Digital Ltd
• SBEC Systems India
• Shantanu Sheorey Aquakult
• Sharanam Infraproject and
• Shriram Asset Management Company
• Suraj Industries
• TANFAC Industries
• Xpro India
• STOCKS IN F&O BAN LIST FOR 2 JAN
• MANAPPURAM ( NEW ENTRY)
• CSB Bank delivers strong growth across key metrics!
• Deposits at ₹33,406 cr, up 22.16% YoY & 4.9% QoQ
• CASA at ₹8,041 cr, up 6.6% YoY & 4.84% QoQ
• Advances rise to ₹28,914 cr, up 17.7% YoY & 7.6% QoQ
• Gold loans surge to ₹13,018 cr, up 25.1% YoY & 8.44% QoQ
• CD ratio at 86.55%, up QoQ
• SBI's growth story continues with strong advances and steady deposits!
• Deposits at ₹105,378 cr, up 6.3% YoY
• CASA at ₹32,831 cr, up 4.1% YoY
• Advances surge to ₹86,965 cr, up 11.94% YoY
• CD ratio hits 82.53%, up YoY
• Goldman Sachs on FMCG and paints preview
• Q3 expected to be weak across top line and bottom line
• FMCG volume growth slowdown driven by macro and micro factors
• Spike in palm oil, coffee and tea prices to impact gross margins of GCPL, Tata, Britannia, HUL and Nestle
• GOLDMAN SACHS ON HUL
• NEUTRAL RATING , CUTS TARGET PRICE TO 2650 FROM 2775
• Volume growth to see further moderation from 3% in 2QFY25 to ~1% in 3QFY25
• GOLDMAN SACHS ON DABUR
• NEUTRAL, CUTS TARGET PRICE TO 540 FROM 580 EARLIER
• Expectations of flat volumes YoY In q3
• GOLDMAN SACS ON GODREJ CONSUMER
• BUY , CUTS TARGET PRICE TO 1370 FROM 1375
• India volumes to be flat YoY In Q3
• GOLDMAN SACS ON MARICO
• BUY , CUTS TARGET PRICE TO 710 FROM 720
• Steady volume growth of ~5% YoY in Q3
• ASHOK LEYLAND DEC SALES ; TOTAL SALES UP 5 % TO 16957 UNITS YOY , EST 16500
• Total M&HCV Sales Up 8% At 11,474 Units Vs 10,630 Units YoY
• M&HCV growth is led by truck segment
• Rupee Opens At 85.70/$ Vs Wednesday’s Close Of 85.64/$
• CITI ON BANKS
• Expect Slowdown In Credit Growth To 2-3% QoQ
• Q3 Slippages To Rise; Expect Credit Cost To Be Elevated
• Rate 'Buy' On Indusind Bank With Target Price Of 1,378 (43% Upside)
• Rate 'Buy' On RBL Bank With Target Price Of 205 (29% Upside )
• Citi on Petronet LNG
• Rate 'Sell' With Target Price At ₹310 (11% Downside)
• Open 90D Negative Catalyst Watch
• PNGRB has called for a regulatory framework to bring regassification activity
• NOMURA ON ITC
• BUY , TARGET PRICE 575
• Nuvama On Infrastructure Sector
• After muted start to FY25, road awarding improved Jul-24 onwards
• In 9mFY25, NHAI awarded ~663km projects, up around 71% year- on-year on low base
• Road construction in December 2024 at around 630km marks, up 97% year-on-year/186% month-on-month
• HI-TECH PIPES Q3 BIZ UPDATE; ACHIEVED EVER HIGHEST SALES VOLUME
• 1,24,233 MT IN Q3FY25 +26% YoY
• 3,69,415 MT IN 9MFY25 +30% YoY
• Hi-Tech Pipes saw strong growth driven by its solar torque tubes, favored for their durability and precision in India's expanding solar energy sector.
• The company also achieved significant gains in infrastructure and construction, supported by its diverse steel product portfolio.
• Geoffrey Dennis
• • Europe's Weakness Creates A Challenging Environment For Emerging Economies
• • US Bond Markets Will Suffer In 2025, Yields Could Hit 5% Or Higher Which Will Keep Dollar Strong
• • India Remains A Good Story Within Challenging Emerging Markets
• • Fiscal Expansion Is A Concern For The U.S. Economy
• • The Indian Currency Is Expected To Perform Better Than Other Currencies
• CITI says Sell on Bajaj Auto, Target Price Rs 7800!
• 2W volumes down 4% YoY, 26% MoM drop!
• Domestic 3W sees a 5% YoY boost!
• Export 3W up 50% YoY!
• 3W overall grows 16% YoY!
• JUPITER LIFELINE Says Indore hosp reached over 60% occupancy in the last quarter - CNBCTV18
• Expect FY25 EBITDA margin to be in the range of 25%
• The new bed addition is a brownfield expansion
• Revenue will also double once the 2,000 beds are fully operational over the years
• Occupancy growth in Pune and Indore, along with case mix optimisation in Indore, will be key growth drivers
• INFO EDGE MNGMT SAYS Non-IT Business Continues To Do Well
• IT Hiring Is Back To Growing In Close To Double Digit
• Things Are Starting To Improve For Entry-Level Hiring
• IT Revenue Growth Was Flattish In Past 2-3 Years Impacting Overall Performance
• Q3 Earnings Schedule
• Q3 नतीजों की तारीखें
• 7th Jan: GM Breweries
• 9th Jan: TCS
• 9th Jan: Tata Elxsi
• 10th Jan: CESC
• 10th Jan: GNA Axle
• 13th Jan: Angel One
• 13th Jan: HCL Tech
• 14th Jan: HDFC AMC
• 15th Jan: HDFC Life
• 15th Jan: LTTS
• 16th Jan: Infosys
• 17th Jan: Amal
• 17th Jan: ICICI General
• 17th Jan: Tech Mahindra
• 20th Jan: ICICI Sec
• 20th Jan: MCX
• 21th Jan: ICICI Pru
• @ SumitResearch
• 21th Jan: KEI Ind
• 21th Jan: Ultratech
• 22th Jan: Coforge
• 22th Jan: HDFC Bank
• 22th Jan: Polycab
• 23th Jan: Cyeint
• 23th Jan: Dr Reddy
• 23th Jan: Mphasis
• 23th Jan: NAM India
• 24th Jan: Atul
• 24th Jan: JSW Steel
• 25th Jan: ICICI Bank
• 25th Jan: IDFC Bank
• 25th Jan: JK Cement
• 28th Jan: Bosch
• 28th Jan: Bajaj Auto
• 28th Jan: Exide
• 28th Jan: M&M Finance
• 28th Jan: RBL Bank
• 28th Jan: UTI AMC
• 29th Jan: KPIT Tech
• 30th Jan: Dabur
• 30th Jan: Naveen Fluorine
• 30th Jan: Shree Cem
• 31st Jan: Nestle
• Indices Returns for CY 23-24 - Yet, another year of higher Mid & Small Cap indices over the Large Cap. Amongst sectoral indices, Pharma, Consumer Durables and IT have outshine others.
• Navigating the Opening Bell with Sbi Securities: 6 Key Technical and Derivative Insights
• Nifty Kicks Off 2025 in Green, Mid & Small Caps Shine Bright
• 1. Global Market:
• On Wednesday, the US market was closed in celebration of New Year's Day.
• #BrentOil has continued its northward journey after giving a Symmetrical Triangle breakout, and today, it has surged above its 100-day EMA level for the first time after October 11. Further, the daily RSI is sustained above 60 mark for the second consecutive trading sessions. In the short term, it is expected to test the $77 mark.
• The U.S. Dollar Index (#DXY) has recently given a 5-day consolidation breakout on a daily scale. Going ahead, it is likely to test the level of 108.50, followed by 108.90 in the short term.
• 2. Nifty View:
• On the first trading session of CY 2025, the benchmark index Nifty ended on a positive note. However, the spotlight was on the broader market, where Nifty Midcap 100 and Nifty Small Cap 100 broke out of a six-day consolidation on the daily chart. Both indices delivered strong performances, significantly outperforming the frontline indices.
• Talking about Nifty levels, the zone of 23630-23600 will act as immediate support for the index. If the index slips below the level of 23600, then the next support is placed at the 23460 level.
• While, on the upside, the zone of 23880-23900 will act as a crucial hurdle for the index. Any sustainable move above the level of 23900 will lead to an extension of the pullback rally upto the 24100 level.
• On the #derivatives front, January #futures ended higher by 0.39 percent, while the combined #OpenInterest for the current, next, and far series surged by 0.11 percent.
• Among the constituents of the #Nifty index, 10 stocks have witnessed a long build-up, and 23 stocks have witnessed a short covering rally. While 9 stocks have witnessed a short build-up, and 8 stocks have witnessed a long unwinding.
• The 23800 strike has significant call open interest, followed by the 24000 strike. On the put side, 23700 has a substantial open interest, followed by a 23600 strike.
• For the weekly series, OI PCR is at 1.04. For the January monthly series, it is at 1.19.
• Bank Nifty experienced significant volatility on Wednesday, trading within an 836-point range before closing above the 51000 mark with a 0.39% gain. On the daily chart, it formed a high-wave candle, reflecting indecision. The high and low of Wednesday’s session (51322 – 50485) will be key levels to watch in the coming sessions.
• 3. Sensex View:
• The benchmark index #Sensex has also ended on a positive note on the first trading session of CY 2025. On a daily scale, it has formed a bullish candle with shadows on either side.
• Going ahead, the zone of 78900-79000 will act as an immediate hurdle for the index. Any sustainable move above the level of 79000 will lead to an extension of pullback rally upto the level of 79500, followed by 79900 level in the short term.
• While on the downside, the zone of 78000-77900 will act as immediate support for the index.
• On the #derivative front, January #futures surged by 0.42 percent, and the #OpenInterest of the current series has surged by 19.51 percent, which indicates an overall long build up.
• The 79000 strike has significant call open interest, followed by the 79500 strike. On the put side, 78500 has a substantial open interest, followed by a 78000 strike.
• For the weekly series, OI PCR is at 0.91.
• 4. Key Market Indicators:
• The volatility index, India VIX, ended on a positive note for the third consecutive trading session. However, since the last couple of trading sessions, it has been oscillating in a narrow range of 14.90-13.03 level. Going ahead, the zone of 12.50-12.30 will act as immediate support for India VIX. While, 15.50-15.70 will act as a crucial hurdle for the index.
• The #Advance/Decline ratio was largely tilted in favor of advancers.
• 5. Key Sectors:
• We believe the Nifty Midcap and Nifty Small Cap 100 are likely to outperform in the short term as they have given a consolidation breakout on a daily scale.
• Apart from this, Nifty Pharma, Nifty Healthcare, and Nifty Consumer Durable are likely to outperform in the short term.
• 6. FII/DII Data:
• #FIIs sold to the tune of 1782.71 cr. while #DIIs bought to the tune of 1690.37 cr.
• FIIs' #Long-short ratio for index futures is at 13.54 as on a net basis, they sold 12134 index futures.
• On the stock #futures front, FIIs have sold to the tune of 11007 contracts, while on the #Options Front, FIIs bought 64816 call contracts and sold 27869 Put Option contracts.