Infosys Compaz collaborates with Singapore’s StarHub
Infosys Compaz, a joint venture between Infosys and Temasek, today announced a collaboration with Singapore-based communications, entertainment and digital services provider StarHub, to enable their IT transformation, while strengthening their technology operations, service management and cybersecurity.
Infosys was quoting at Rs 1,498.95, down Rs 23.60, or 1.55 percent on the BSE.
Ravindra V.Rao, CMT, EPAT, VP-Head Commodity Research, Kotak Securities
NYMEX WTI crude started the new year with high volatility as price initially inched up testing the immediate resistance near $81.50/bbl and then fell to as low as $76.60/bbl before ending the day in red by around 4%. If we take the retreat from the highs, it fell around 5.5%. The major factor that triggered selling was the looming recession and slowing factory activity in China.
The recent data showing slowing factory activity in the world’s biggest oil importing nation has added fuel to fire. Moreover, IMF’s warning of a potential global recession in 2023 has cast doubts on world oil demand. Additionally, a sharp recovery in US Dollar has supported the bear case. As the global growth worries is haunting oil markets important economic data releases in the week from world’s largest economy, US ,might drive oil prices in the near term.
Nifty Information Technology index shed 1.2 percent dragged by L&T Techniology Services, TCS, Tech Mahindra
NTPC commissions India’s first green hydrogen blending project
NTPC has commissioned India’s first green hydrogen blending project. The green hydrogen blending has been started in the piped natural gas (PNG) network of NTPC Kawas township, Surat. The project is a joint effort of NTPC and Gujarat Gas.
NTPC was quoting at Rs 165.20, down Rs 2.30, or 1.37 percent on the BSE.
Satin Creditcare Network to consider fund raising on January 6
Satin Creditcare Network’s board of directors of the company will meet on January 6 to consider raising of funds through private placement of non-convertible debentures.
Satin Creditcare Network was quoting at Rs 160.95, down Rs 1.45, or 0.89 percent.
Navin Fluorine is seeing massive short buildup with open interest doubling during the day.
Gland Pharma gets establishment inspection report for Dundigal facility at HyderabadGland Pharma informed that following the Pre-Market Inspection covering US FDA’s Quality System/Current Good Manufacturing Practice regulations for Medical Devices (21 CFR Part 820) at the company’s Dundigal Facility at Hyderabad from 22nd August, 2022 to 25th August, 2022; the Company has received the Establishment Inspection Report (EIR) from the Office of Product Evaluation and Quality Center for Devices and Radiological Health, US FDA indicating closure of the inspection.
Market at 12 PMBenchmark indices extended the losses and trading at day’s low.The Sensex was down 535.98 points or 0.87% at 60758.22, and the Nifty was down 162 points or 0.89% at 18070.50. About 1046 shares have advanced, 2110 shares declined, and 122 shares are unchanged.
Ravindra V.Rao, CMT, EPAT, VP-Head Commodity Research, Kotak Securities
COMEX Gold started the year 2023 shining as it ended the first official session of the year with gains. Gold ended Tuesday’s session around 1% higher as cut down in the pace of Interest rate hikes from Fed and fears of recession has triggered safe haven plays in the yellow metal.
The safe haven play can be seen as both the yellow metal and US Dollar gained yesterday which normally is not the case as gold is negatively correlated to dollar. Gold and dollar will be driven by important data pointers this week from the US.
It will start will ISM manufacturing and Dec FOMC meeting minutes today followed by the all-important NFP print later in the week.
Allcargo Logistics to acquire 100% stake in Asiapac Equity InvstmentAllcargo Logistics’ wholly owned step down subsidiary viz, AGL N.V. has entered into a share purchase agreement with Atlas Global Trading F.Z.C. (UAE) to acquire 100% stake in Asiapac Equity Investment Ltd (Hong Kong).
Orient Cement shares gain post clarification on Adani Group stake buyOrient Cement on the new item “Adani Group In Talks To Buy Promoter Stake In Orient Cement” clarified that the company is not privy to any such discussion, and therefore cannot comment on the same.They further clarified that at present there is no material information/announcement, including impending announcement, which in the opinion of the company may have a bearing on the price/ volume behaviour of the scrip.
Anupam Rasayan restarts operations in one plant at the Sachin GIDC Unit after massive fire
The company has restarted operations in one plant out of the two plants in Sachin GIDC unit post receipt of closure revocation order and approval to restart the plant from the GPCB and other regulatory authorities.
In September, worker was killed and 20 others were injured after a major fire broke out in a chemical factory of the plant.
The stock is quoting at Rs 685 apiece on the NSE, lower by 1.17 percent.
