India Finance News

Closing Bell: Nifty ends at around 18,100, Sensex rises 847 pts; all sectors in the green – Moneycontrol

January 09, 2023 / 03:33 PM IST

Rupee Close:

Indian rupee closed 36 paise higher at 82.36 per dollar against previous close of 82.72.

January 09, 2023 / 03:30 PM IST

Market Close: Indian benchmark indices ended on positive note on January 9 with Nifty finishing around 18,100.

At Close, the Sensex was up 846.94 points or 1.41% at 60,747.31, and the Nifty was up 241.70 points or 1.35% at 18,101.20. About 1986 shares have advanced, 1542 shares declined, and 155 shares are unchanged.

M&M, TCS, HCL Technologies, Tech Mahindra and IndusInd Bank were among the top gainers on the Nifty. However, losers were Titan Company, Bajaj Finserv, Grasim Industries, Bajaj Auto and HDFC Life.

Among sectors, Information Technology, power, auto, capital goods, oil & gas, metal and PSU bank indices up 1-2 percent. 

BSE midcap index up nearly 1 percent and smallcap index up 0.5 percent.

January 09, 2023 / 03:26 PM IST

CLSA maintains ‘Outperform’ rating on Titan Company-Outperform rating, target at Rs 3,000 per share
-Healthy demand & strong execution sustains growth
-Titan noted strong double-digit growth across all its segments
-Company saw 12% growth in overall revenue versus estimates of 13.4% growth 
-Company continued to expand its network with 129 store additions for quarter 
-Titan’s total store count now stands at 2,537

January 09, 2023 / 03:21 PM IST

JK Cement arm invests Rs 153 crore in Acro Paints

JK Cement’s wholly owned subsidiary JK Paints & Coatings initially/at first tranche invested an amount of Rs 153 crore and completed the acquisition of 60 percent equity shares of Acro Paints

JK Cement was quoting at Rs 2,875.40, up Rs 2.70, or 0.09 percent.

January 09, 2023 / 03:19 PM IST

CLSA maintains ‘Buy’ rating on ONGC:

-Buy rating, target at Rs 225 per share
-High confidence in predictability of company’s earnings will be a big positive 
-Policy for crude & gas pricing stabilises in 2023 after uncertainties seen in H2 
-See potential for 65% base case total stock return versus sub 10% downside risk 
-Identify option value equal to 90% of current stock price 
-See possibility that conviction the rise over the next 12-18 months
-Reiterate ONGC as top buy in the sector

Oil and Natural Gas Corporation was quoting at Rs 148.05, up Rs 0.65, or 0.44 percent.

January 09, 2023 / 03:15 PM IST

Gland Pharma arm to acquire 100% stake in Cenexi

Gland Pharma’s Singapore subsidiary, Gland Pharma International PTE. has enters into a share purchase agreement with FPCI Sino French Midcap Fund and others to acquire 100% stake in Cenexi and the Cenexi Holding Entities

Gland Pharma was quoting at Rs 1,560.50, down Rs 4.30, or 0.27 percent.

January 09, 2023 / 03:13 PM IST

BSE Capital Goods index rose 1 percent supported by CG Power, Carborundum Universal, L&T

January 09, 2023 / 03:11 PM IST

Dhruv Consultancy Services bags contract:National Highways Authority of India, Navi Mumbai has awarded contract worth Rs 11,17,80,000 to Dhruv Consultancy Services.

January 09, 2023 / 03:08 PM IST

Morgan Stanley keeps Equal-weight rating on Macrotech Developers

-Equal-weight rating, target at Rs 1,145 per share
-Key themes for MDL include pre-sales momentum 
-Project acquisition via JDA/JV route & de-leveraging 
-Cash repatriation from London projects should accelerate

Macrotech Developers was quoting at Rs 1,054.10, down Rs 7.50, or 0.71 percent on the BSE.

January 09, 2023 / 03:06 PM IST

Gujarat Heavy Chemicals gets regulatory nod to increase soda ash production capacity

Gujarat Heavy Chemicals has received requisite regulatory consent amendment for increase in its Soda Ash production capacity from 11,00,000 Ton per annum (TPA) to 12,00,000 TPA as per consent condition.

Gujarat Heavy Chemicals was quoting at Rs 524.15, down Rs 3.00, or 0.57 percent on the BSE.

January 09, 2023 / 03:04 PM IST

Market at 3 PMThe Sensex was up 806.60 points or 1.35% at 60706.97, and the Nifty was up 227.70 points or 1.27% at 18087.20. About 1889 shares have advanced, 1467 shares declined, and 152 shares are unchanged.

January 09, 2023 / 03:01 PM IST

Macquarie maintains ‘Outperform’ rating on Titan Company

-Outperform rating, target raised to Rs 3,250 per share
-See healthy growth in jewellery, watches 
-Weaker-than-expected pace of store additions key takeaways 
-Raise FY23/24/25e EPS by 2% each to factor sales strength across segments
-Pre-Q3 update reaffirms resilience of Titan’s consumer demand

Titan Company was quoting at Rs 2,480.10, down Rs 56.85, or 2.24 percent on the BSE.

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