BSE Sensex, NSE Nifty 50 likely to open in green, hints SGX Nifty amid positive global cues. Hindustan Unilever, Mahindra & Mahindra Financial Services, NTPC among stocks to watch today.
SGX Nifty hints at a positive start for benchmark indices NSE Nifty 50 and BSE Sensex. Nifty futures are trading at 18,164, up 53 pts on the Singapore Exchange. “While markets could remain sideways in near term, we expect buying emerging at lower levels. 18,000 mark can act as strong support zone and recovery might be seen once the event is over. IT sector is likely to see some action ahead Q3 results next week. Some of the banks have announced strong pre-quarterly business updates indicating good results ahead, which could keep the sector in limelight. Other sectors like insurance, fertilizer, capital goods and agri related stocks can see some momentum in anticipation of development in the upcoming budget,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.
Stocks in focus on 5 January, Thursday
M&M Financial: The Reserve Bank of India (RBI) has allowed Mahindra and Mahindra Financial Services to resume loan recovery and repossession activities through third parties. The RBI has informed M&M Financial of its decision to lift restrictions following submissions made by the company, its commitment to strengthen recovery practices and outsourcing arrangements, tighten the process of on-boarding third party agents and strengthen accountability framework, the non-banking financial company said in an exchange filing.
ICICI Bank: The private lender has launched a range of digital solutions to streamline the lifecycle of exports. Designed especially for exporters, these solutions range from identification of the right export market, to accessing export finance and foreign exchange services to receipt of export incentives.
Coal India: State-owned Coal India and trade unions have agreed to a 19% minimum guaranteed benefit of the monthly emolument, benefitting more than 2 lakh non-executive workers, an official statement said on Wednesday. “CIL and the four central trade unions BMS, HMS, AITUC and CITU have inked a Memorandum of Understanding (MoU), recommending 19% Minimum Guaranteed Benefit (MGB) for 2.38 lakh non-executive employees as part of the ongoing National Coal Wage Agreement –XI (NCWA-XI),” Ministry of Coal said in a statement.
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Hindustan Unilever Limited (HUL): The company on Wednesday informed the stock exchange that the company has completed the 19.8% acquisition of Nutrionalab Private Limited for Rs 70 crore. The company had earlier announced that it would acquire two D2C brands—OZiva and Wellbeing Nutrition and with the current acquisition it will foray into the health and well-being category. utritionalab Private Limited was founded in 2019 and HUL acquired a 19.8% equity stake in the company through a combination of primary infusion and secondary buyouts.
New Delhi Television (NDTV): Investor LTS Investment Fund has further offloaded 2.38% stake in New Delhi Television via open market transactions. With this, LTS’ shareholding in the company dropped to 2.69%, down from 5.08% earlier.
NTPC: NTPC Green Energy Ltd (NGEL) has signed an agreement with Hindustan Petroleum Corporation Ltd (HPCL) for the development of renewable energy-based power projects. Under the agreement, NTPC said its renewable energy arm — NGEL — will also supply 400 MW round-the-clock to HPCL.
Hindustan Petroleum Corporation (HPCL): The company has forayed into petrochemical business with pre-marketing of ‘HP Durapol’ brand of polymers, which is a pre-cursor to marketing of HPCL Rajasthan Refinery (HRRL) petrochemical products. HRRL sees a 9-MMTPA-capacity grassroot refinery-cum-petrochemical complex at Pachpadra in Rajasthan.
Marico: Company’s consolidated revenue in Q3FY23 grew in the low single digits on an on-year basis. As there has been some semblance of stability in key input prices and consumer pricing across key franchises, gross and operating margins are expected to improve both on a sequential and on-year basis. Company expects a modest growth in operating profit due to lower revenue growth.
GR Infraprojects: Subsidiary GR Bhimasar Bhuj Highway has received a letter from the National Highways Authority of India declaring the appointed date as January 2, 2023, for the road project. The project includes upgradation to four lane with paved shoulder of NH341 from Bhimasar, Junction of NH-41 to Anjar – Bhuj upto Airport Junction in Gujarat on hybrid annuity mode. The bid project cost is Rs 1,085 crore.
