Rupee Close:
Indian rupee closed 15 paise lower at 82.89 per dollar against previous close of 82.74.
Market Close: Benchmark indices ended on positive note in the volatile session on January 3.
At Close, the Sensex was up 126.41 points or 0.21% at 61,294.20, and the Nifty was up 35 points or 0.19% at 18,232.50. About 1998 shares have advanced, 1423 shares declined, and 130 shares are unchanged.
HDFC Life, SBI Life Insurance, Axis Bank, Titan Company and TCS were among the top gainers on the Nifty. However, losers included Hindalco Industries, Britannia Industries, M&M, JSW Steel and Grasim Industries.
Information Technology, pharma, PSU Bank indices rose 0.5 percent each, while metal index shed 0.5 percent.
BSE midcap and smallcap index ended marginally higher.
Jefferies keeps ‘Underperform’ rating on Mahindra & Mahindra Financial Services-Underperform call, target at Rs 175 per share
-Reported healthy disbursement growth of 22% QoQ
-Business assets rose 20% YoY, a tad softer than our estimate
-Collection efficiency stable YoY at 95% in Q3
-Company expects stage-3 assets to be 6.2% in Q3 vs 6.7% in Q2
Citi expects IT revenue growth to moderate
-Challenging macro to weigh on valuations
-Expect revenue growth to moderate back to pre-pandemic levels
-Coverage universe will likely grow 8.5% (CC) in FY24 versus 14% (CC) in FY23
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Adani lifts payout for NDTV open offer to match payment to founders
Adani Enterprises said on Tuesday it will pay an additional 48.65 rupees per share to New Delhi Television Ltd investors who sold their shares to the conglomerate in its open offer for the news network.
This takes the offer price to 342.65 rupees per share, matching what Adani paid NDTV founders when they sold their stake to the conglomerate last week.
Adani Enterprises was quoting at Rs 3,831.20, down Rs 9.50, or 0.25 percent on the BSE.
Market at 3 PMBenchmark indices were trading in the green with Nifty above 18200.The Sensex was up 67.59 points or 0.11% at 61235.38, and the Nifty was up 19.70 points or 0.11% at 18217.20. About 1862 shares have advanced, 1384 shares declined, and 123 shares are unchanged.
Emkay Global expects IT companies revenue growth momentum to likely moderate in Q3Emkay Global expects revenue growth momentum to likely moderate in Q3 due to furloughs, lower number of working days, deferred spending by few clients, and increased cautiousness among clients amid macro uncertainties. The research house expects revenue growth of 0.8-3.7% in constant currency QoQ for Tier-1 companies and of -0.4% to 3.4% for mid-cap companies. Emkay Global expects Infosys and HCL Tech to retain their guidance of 15-16% CC YoY revenue growth, 21-22% EBIT margin and 13.5-14.5% constant currency revenue growth, 18-19% EBIT margin for FY23, respectively.
Kamat Hotels enters into MoU for sale of VITS, Mumbai unit for not less than Rs 125 croreKamat Hotels entered into MOU with respect to the sale of VITS, Mumbai, Unit of the Company which shall not be less than Rs 125 crore.
Sah Polymers IPO updates:
The public issue of Sah Polymers continued to get healthy subscription on January 3, the third day of bidding. The offer has so far attracted bids for 2.1 crore equity shares as against an IPO size of 56.1 lakh shares, subscribing 3.75 times.
The response by retail investors as well as high networth individuals remain strong as they have bought 12.69 times and 4.23 times the allotted quotas, respectively. The portion set aside for qualified institutional buyers has been subscribed 52 percent so far.
Most active stocks on NSE in terms of volumes
Auto sector negotiates December hurdles, gears up for fast lane in Q4
Seasonally, Q4 is a strong quarter for the sector. PV and M&HCV segments to maintain their strong performance while the improving farm sector will aid pickup in tractors and farm implements. Two-wheeler demand to improve due to upcoming marriage and festive season… Read More
