IGI Logo

* NTPC: The company's subsidiary NTPC Green Energy has signed a memorandum of understanding (MoU) with Hindustan Petroleum Corporation Limited (HPCL) to develop renewable energy-based power projects. Under the MoU, NTPC Green Energy will supply 400 MW of renewable power to HPCL's refineries and other business units.

* SJVN: The company will make an investment of Rs 2,615 crore in a hydroelectric project in Himachal Pradesh. On completion of the project, the company will earn 16.50% return on the equity infusion. The investment will be 70% debt and 30% equity.

* Hindustan Petroleum Corporation: The company forayed into petrochemical business with pre-marketing of HP Durapol branded polymersin a pre-cursor to setting up a 9MMTPA refining and petrochemical complex in Rajasthan.

* Tata Power: The company will compute and claim tariff from the beneficiaries based on the Central Electricity Regulatory Commission order that grants compensation for emergnecy supply from its Mundra plant.

* GR Infraprojects: Subsidiary GR Bhimasar Bhuj Highway received a letter from the NHAI declaring the appointed date of Jan. 2, 2023, for upgrading a section of NH341 from Bhimasar to Anjar–Bhuj in Gujarat to four-lanes. The bid project cost is Rs 1,085 crore.

* Krishna Institute of Medical Sciences: The board apporved raising funds via issuance of non-convertible debentures of Rs 300 crore in one or more tranches.

* Hindustan Unilever: The company completed the acquisition of 19.8% stake in Nutritionalab for Rs 70 crore.

* Bharti Airtel: The special committee of directors approved allotment of 83.5 lakh shares at a conversion price of Rs 521 apiece after certain holders converted FCCBs worth $60.4 million.

* Adani Ports and SEZ: The company handled 25.1 million tonne cargo in December, witnessing a growth of 8% YoY. For the 9 months ended December, the Adani Group firm saw 8% on year growth in cargo volumes to 253 million tonne.

* Bajaj Finance: The NBFC major has booked 7.8 million new loans in the quarter ended December, compared with 7.4 million a year ago, according to provisional figures. The new loans booked in the last quarter were the highest-ever for the company. The company's liquidity position remains strong, with the consolidated net liquidity surplus at Rs 12,750 crore at the end of the last quarter.

* Tata Motors: The automaker's production in the December quarter rose 12% YoY to 2,21,416 units due to strong domestic demand.

* Marico: The FMCG major expects to post low single-digit YoY growth in the consolidated revenue for the December quarter. It expects gross and operating margins to improve both YoY and sequentially, but operating profit could see a moderate growth.

* Ashok Leyland/JBM Auto: Commercial vehicles manufacturer Ashok Leylandbacked Switch Mobility, JBM Auto, and PMI Electro Mobility have likely emerged as winners in the state-owned Convergence Energy Services Ltd (CESL) tender to the tune of ?30 billion (approximately $362.40 million). Also, on Wednesday, CESL opened a new tender for 4,675 electric buses. These companies had participated in a tender released by CESL on September 21, 2022, for the supply of 465 e-buses for six states. This tender was part of India's aim to deploy 50,000 e-buses over the next 4-5 years at an estimated cost of ?1 trillion ($12 billion).

* 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.

GLOBAL MARKETS

Global Market Update

The S&P 500 finished higher on Wednesday but below its session peak after volatile trading following the release of minutes from the Federal Reserve's last meeting, which showed officials laser-focused on controlling inflation even as they agreed to slow their pace of interest rate hikes. The Dow Jones Industrial Average rose 133.4 points, or 0.4 percent, to 33,269.77; the S&P 500 gained 28.83 points, or 0.75 percent, to 3,852.97; and the Nasdaq Composite added 71.78 points, or 0.69 percent, to 10,458.76.

Crude Oil

Oil fell by more than $4 a barrel on Wednesday, posting the steepest percentage loss in the first two trading days of any year for over three decades, as investors worried about fuel demand as the global economy slows and Covid-19 cases grow in China. Brent futures settled at $77.84 a barrel, falling $4.26, or 5.2 percent. US crude settled at $72.84 a barrel, shedding $4.09, or 5.3 percent.

SGX Nifty:Trends in the SGX Nifty indicate a positive opening for the broader index in India with a gain of 47 points. The Nifty futures were trading around 18,158 levels on the Singaporean exchange.

Nifty Outlook:

Nifty opened flat on Wednesday at 18231, made a high of 18243, low of 18021, and closed on a negative note at 18043 levels. For the day, support for the Nifty exists at 17900 and 17800 levels, whereas resistance for the Nifty stands at 18200 and 18300 levels.

Bank Nifty Outlook:

Bank Nifty opened flat on Wednesday at 43418 made a high of 43578, a low of 42859, and closed on a negative note at 42959 levels. For the day, support for Bank Nifty exists at 42500 and 42000 levels, whereas resistance for Bank Nifty stands at 43200 and 43500 levels

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at www.investmentz.com/disclaimer
SEBI Registration number is INZ000186336

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer