Analysis Financial News

EID Parry(India)Ltd.(up 2.82%), Sakthi Sugars Ltd.(up 2.28%), Shree Renuka Sugars Ltd.(up 2.20%), Ponni Sugars(Erode)Ltd.(up 2.10%), Bajaj Hindusthan Sugar Ltd.(up 1.83%), Kothari Sugars & Chemicals Ltd.(up 1.25%), Rana Sugars Ltd.(up 0.77%), KM Sugar Mills Ltd.(up 0.52%), Dhampur Sugar Mills Ltd.(up 0.37%) and DCM Shriram Industries Ltd.(up 0.19%) stood among the top gainers.

Budget, set to be presented on February 1, retail investors and industry stakeholders are hopeful of consumer relief and market-friendly reforms. Anticipation is building around potential tax breaks for lower-income groups and adjustments to capital gains taxes — measures that experts believe could boost consumption, revive urban demand, and reinvigorate the stock market. Shripal Shah, MD & CEO of Kotak Securities, highlighted key measures that could shape the economic and market landscape. “The upcoming Budget holds promise for retail investors, particularly with expectations of tax relief in the lower income slabs. If the government reduces tax rates for smaller taxpayers, it could lead to higher disposable income in the hands of the common man,” Shah said.

Axis Bank shares fell over 3% to a low 1,014.65 on the NSE on Wednesday amid a block deal where 33.2 lakh shares are reported to have changed hands. ETNow reported about the block deal. Details of the buyers and sellers were not known immediately.

Macquarie has initiated coverage on two key players in the quick service restaurant (QSR) sector, Devyani International and Sapphire Foods, with «Outperform» ratings expressing a positive outlook on the sector in India. The brokerage firm has set a target price of Rs 230 for Devyani International, a Yum! Brands franchisee in India, and Rs 390 for Sapphire Foods.

Crypto prices are showing signs of recovery from the past two trading sessions, ahead of U.S. consumer price data due on Wednesday that could potentially shift the monetary policy outlook. Bitcoin, which had fallen to $89K, a level it hadn’t seen in 24 days, has rebounded strongly, surging to the $97,000 level. As of 11:00 am IST, Bitcoin was trading at $96,932, up 2.15%, after hitting an intraday high of $97,650. Ethereum surged 1.2% to $3,222. Meanwhile, the global crypto market cap saw a 2.5% rise, reaching $3.37 trillion.

Shriram Finance Ltd. 2.69 per cent to Rs 530.15 in Wednesday's trade as of 01:54PM (IST). The stock hit a high price of Rs 548.95 and low of Rs 529.45 during the session. The return on equity (ROE) for the stock stood at 15.04 per cent. Traded volume on the counter stood at 01:54PM shares and turnover at Rs 2.91 crore around that time. The stock of Shriram Finance Ltd. quoted a 52-week high price of Rs 730.43 and 52-week low prices of Rs 438.83, respectively.

Lupin Ltd. 1.44 per cent to Rs 2124.05 at 01:49PM hours (IST) on Wednesday. Earlier in the day, the stock saw a gap up start to the session. As per data available on BSE, total traded quantity on the counter stood at 11,639 shares with a turnover of Rs 2.47 crore till 01:49PM (IST). The stock traded at a price-to-earnings (P/E) multiple of 36.84, while the price-to-book value ratio stood at 5.16.

«The large private sector banks is one such pack, while there are of course near term headwinds, credit growth has slowed down, there are pockets of asset quality stress, and margins have been under pressure, we believe that the valuations for that largecap banking space specifically the private sector banks is possibly more than capturing in these kind of headwinds,» says Shibani Sircar Kurian, Kotak Mahindra AMC. The correction that we have been seeing recently, the kind of fall that we have seen across indices, be it the largecap, the midcap, smallcap, do you believe that the valuations have corrected enough to make these stocks attractive now? Do you believe the kind of correction we have seen in valuations is significant enough for us to now confidently say that only good days are ahead? Shibani Sircar Kurian: So, when you look at the correction that we have seen recently over the last couple of months, you must put it in context of what has happened in the last four years, especially since post COVID period. Our markets have had a significant uptrend and it has been a one-way move in the market and therefore, in that context, we must look at the last two months of correction and volatility as something that is possible, given that equity markets have seen such a one-way up move.

Benchmark NSE Nifty index rose 61.55 points to 23237.6 amid buying in frontline bluechip stocks.

REC Ltd. 1.9 per cent to Rs 485.60 at 10:25AM (IST) in Wednesday's trade. The stock hit a high of Rs 486.50 and low of Rs 475.25 so far during the session. The stock had closed at Rs 476.50 in the previous session. The counter had a total traded volume of 10:25AM shares so far with a turnover of Rs 5.10 crore on BSE. The stock traded at a price-to-earnings multiple of 8.55 and a price-to-book ratio of 1.73.

Bajaj Holdings & Investment Ltd. traded 1.95 per cent in Wednesday's trade at 10:20AM (IST). Around 372 shares changed hands on the counter. The stock opened at Rs 11090.00 and touched an intraday high and low of Rs 11090.00 and Rs 10725.15, respectively, in the session so far. Shares of the company of Bajaj Holdings & Investment Ltd. quoted a 52-week high of Rs 13221.50 and a 52-week low of Rs 7667.15.

Aditya Birla Fashion and Retail Limited (ABFRL) on Wednesday approved issuance of shares worth about Rs 2,379 crore on a preferential issue basis to promoters and qualified institutional buyers (QIBs). After a board meeting to consider the fund-raising proposal, the Aditya Birla Group company said it had approved the issuance of up to 4,08,72,580 equity shares at an issue price of Rs 317.45 per share, for an aggregate consideration of up to Rs 1,297.5 crore to the promoter group.

Canara Bank(up 2.23 per cent), Kotak Mahindra Bank Ltd.(up 1.74 per cent), State Bank of India(up 1.19 per cent), Federal Bank Ltd.(up 0.8 per cent) and Punjab National Bank(up 0.74 per cent) were among the top gainers.

Indian Hotels Company Ltd. traded 2.41 per cent up at Rs 800.80 at around 10:15AM (IST) on Wednesday. The stock had closed at Rs 781.90 in the previous session. Equity benchmark Sensex traded 239.07 points at 76738.7 around the same time.

Shoppers Stop climbed as much as 10.8% on Wednesday to Rs 688 on the BSE after the department store chain posted a nearly 41% year-on-year (YoY) rise in quarterly profit, after two straight quarters of loss, driven by strong demand for premium products such as watches and perfumes during the festive season. For the third quarter ending December 31, Shoppers Stop posted a consolidated net profit of Rs 522.3 million, compared to Rs 368.5 million in the same period last year. This marks a strong recovery following two consecutive quarters of losses.

Dixon Technologies may gain investor attention on Wednesday, January 15 as domestic brokerage firm Emkay has initiated coverage on the stock with a ‘buy’ rating and a target price of Rs 20,000, foreseeing a potential for 22% upside. Emkay has initiated coverage on Dixon Technologies citing strong growth prospects driven by several key factors. The brokerage firm highlights Dixon’s established leadership across various product verticals and its consistent expansion into adjacent markets as a key strength.

silver March futures contracts were trading at Rs 90,747/kg, up by 0.21% or Rs 191. Gold prices jumped by Rs 1,550/10 grams in the last one week while silver prices have largely traded flat, tumbling by Rs 191/kg in the same period.

energy stocks. The BSE Sensex rose 251 points, or 0.32%, to 76,748, while the Nifty50 gained 50 points, or 0.22%, to trade at 23,226 around 9:23 am.

Premier Energies are expected to remain in focus on Wednesday, January 15, after the company informed that it has won multiple orders amounting to Rs 1,460 crore from two Independent Power Producers (IPPs) and others. “In accordance with Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that Premier Energies Global Environment Private Limited, Premier Energies International Private Limited, and Premier Energies Photovoltaic Private Limited, subsidiaries of Premier Energies Limited, have received and accepted multiple orders aggregating to Rs 1,460 crore from two large Independent Power Producers (IPPs) and others,” the company stated in its exchange filing.

Indian equity markets in 2025 especially in the second half as corporate earnings pick up and the euphoria of the Trump Presidency wanes in the US,” says Nishit Master, Portfolio Manager, Axis Securities PMS. In an interview with ETMarkets, Master said: “We expect India to be one of the fastest growing major economies for 2025 which will make it more attractive for FPIs as an investment destination especially since after the recent correction, market valuations have become more reasonable,” Edited excerpts:

Donald Trump prepares to assume office in five days, the cryptocurrency market is experiencing significant activity. Bitcoin recently reached a historic high of $108,200 in December, though it has since consolidated as investors took profits. Trump's perceived pro-crypto stance has generated optimism within the crypto community. His administration is expected to introduce crypto-friendly policies, potentially including the establishment of a national Bitcoin reserve and a more favorable regulatory environment.