Nestle Financial News

Life Insurance Corporation of India (LIC) alone was slapped with notice for around ₹806 crore on January 1. The next day, Hindustan Unilever was sent a GST demand of ₹447.5 crore. Similarly, a series of notices to Asian Paints, Eicher Motors, ICICI Prudential, and Nestle India, with regards to pending GST dues and penalties for FY19 and FY20, have rattled corporate India.

Sanjiv Bhasin, Director, IIFL Securities, says “for this quarter, it will be Indus Tower on the back of results, on the back of positive developments on Idea. SW Solar is my stock for the year. Do not sell it for less than Rs 750. Their book is doing extremely well. It is a debt-free company. It has an order inflow of almost Rs 40,000 crore in FY24-25 with not a single order from the parent. There is a 12% MVP margin. This stock can be an outperformer from here. And last but not least, DCB Bank.” What exactly is the strategy going to be when it comes to largecap IT? We were just mapping out the one-year returns of individual IT stocks and very diverging moves for instance between an HCL Technologies versus an Infosys. How are you looking at identifying some of the winners in particular within the IT space for the year ahead? Sanjiv Bhasin: HCL Tech has been one of our top picks along with Persistent and LTTS. We still think that combination is going to work excellently. HCL Tech's numbers will be by far the best we have seen in the largecaps. But now we have upgraded Wipro. We think Wipro is going to be a key outperformer in the sense that a large part of the domestic government contracts are going to come online and they are gaining more and more contracts on that basis. They are very well equipped for that.

stood among the top gainers. Gujarat Narmada Valley Fertilizers & Chemicals Ltd.(down 4.81%), Chambal Fertilisers & Chemicals Ltd.(down 3.58%), Khaitan Chemicals & Fertilizers Ltd.(down 3.00%), Agro Phos India Ltd.(down 2.97%), Paradeep Phosphates Ltd.(down 2.96%), Madras Fertilizers Ltd.(down 2.63%), Gujarat State Fertilizer & Chemicals Ltd.(down 2.46%), Southern Petrochemicals Industries Corporation Ltd.(down 2.30%), National Fertilizers Ltd.(down 2.15%) and Rashtriya Chemicals & Fertilizers Ltd.(down 2.12%) were among the top losers of the day.

GE Power India Ltd.(up 11.70%), Transformers & Rectifiers(India)Ltd.(up 6.37%), Indo Tech Transformers Ltd.(up 4.99%), Power and Instrumentation(Gujarat)Ltd.(up 4.94%), Suzlon Energy Ltd.(up 4.90%), RattanIndia Power Ltd.(up 4.52%), NHPC Ltd.(up 4.19%), Reliance Power Ltd.(up 3.28%), CESC Ltd.(up 2.78%) and Torrent Power Ltd.(up 2.32%) stood among the top gainers. KKV Agro Powers Ltd.(down 10.00%), GE T&D India Ltd.(down 3.51%), NLC India Ltd.(down 2.49%), Inox Wind Ltd.(down 1.53%), JSW Energy Ltd.(down 1.48%), Voltamp Transformers Ltd.(down 1.36%), Adani Energy Solutions Ltd.(down 1.33%), Adani Power Ltd.(down 1.33%), Inox Wind Energy Ltd.(down 1.18%) and Adani Green Energy Ltd.(down 1.09%) were among the top losers of the day.

Also Read: Q3 result preview: NBFCs likely to see healthy profit growth of 27% YoY amid moderating margins A delayed winter has shrunk demand for seasonal categories during the quarter, falling short of initial expectations across FMCG companies. In terms of categories, food and beverages is anticipated to outperform home and personal care, said Elara Securities.

HDFC Bank, Axis Bank, Infosys, Larsen & Toubro, NTPC , Bharti Airtel , Reliance Industries, Cipla, Adani Ports and Special Economic Zone . Also Read- Hindustan Aeronautics share price jumps over 4% to a record high; market cap surpasses ₹2 lakh crore for first time Analysts at Bernstein continue to remain positive on financials, which is further helped by its lagging performance in 2023 and they believe it will be a key sector which is also an enabler of the current capex cycle for India.

Rajshree Sugars & Chemicals Ltd.(up 2.94%), Bajaj Hindusthan Sugar Ltd.(up 2.45%), Shree Renuka Sugars Ltd.(up 1.91%), DCM Shriram Industries Ltd.(up 1.90%), Simbhaoli Sugars Ltd.(up 1.69%), KM Sugar Mills Ltd.(up 1.27%), Rana Sugars Ltd.(up 1.26%), Mawana Sugars Ltd.(up 1.23%), Sakthi Sugars Ltd.(up 1.21%) and Uttam Sugar Mills Ltd.(up 1.03%) were among the top gainers. Bannari Amman Sugars Ltd.(down 0.35%), Dhampur Sugar Mills Ltd.(down 0.16%) and Balrampur Chini Mills Ltd.(down 0.09%) were among the top losers.

Stock split 2024: Nestle India's share price witnessed selling pressure in early morning deals on Friday as the stock is trading ex-split today. Nestle India's share price today opened downside and went on to hit an intraday low of ₹2,657 apiece on BSE, logging a nearly 2 per cent dip against its Thursday close of ₹2,711.

Sanjiv Bhasin, Director, IIFL Securities, says “I am amazed at the strength in midcaps. Yesterday, the midcap index was up. So, we are not complaining. All we are saying is that there will be a sectoral churn. Now it is time for banks to come back and if you are looking for an opportunity, then use the next few days’ weakness in metals as a proxy to the dollar to buy.” It is time to definitely tread with caution. I want you to drill the point home that there is no harm in the market consolidating at this juncture, it is only but healthy. Sanjiv Bhasin: Yes, the market consolidation is there and we had run up maybe irrationally and that has seen a little bit of a climax. We have corrected about 400-500 points on the Nifty, which is healthy for the market. I would expect this to end today. There is an up move of about 200-300 points which can come today or tomorrow.

Israeli strike killed the deputy leader of Palestinian militant group Hamas. The day after loud blasts ripped through the district from the drone attack that killed Saleh al-Aruri, armed men of Hezbollah were standing guard in the mainly Shiite Muslim area that is their stronghold. Local residents said they were surprised to learn that their busy street housed the secretive Hamas bureau in a non-descript three-storey building nestled next to a pharmacy and a sweets shop. Israel has not claimed the deadly attack but Hamas, the group behind the October 7 attack that sparked the Gaza war, and Lebanese officials have no doubt it was Israel who killed Aruri and six Hamas operatives. Beirut's southern suburbs have long been a stronghold of the Iran-backed Hezbollah armed group, but it is also an overcrowded residential area packed with civilians, shops and restaurants. «No one knew that there was a Hamas office here,» said Ahmed, 40, who works in the nearby sweets shop.

Benchmark NSE Nifty closed 47.3 points down at 21731.4 amid selling in frontline bluechip counters. However, stocks such as Raj Rayon, IKIO Lighting, Azad Engineering, GIR Natureview and BDR Buildcon, touched their fresh 52-week lows.

By Ankika Biswas

Also Read: Q3 result preview: IT firms expected to post muted revenue, subdued profit amid weak demand “We remain positive on the sector considering buoyancy in the real estate market; government’s focus on housing, sanitation and infrastructure; improvement in agriculture segment with normalization in raw material prices; pick-up in exports and increase in branded or large players market share. In Q3FY24, the plastic pipe sector is expected to report EBITDA margin expansion of 230 bps YoY to 14.7% with sequential stability in raw material prices.

Benchmark NSE Nifty closed 47.3 points down at 21731.4 amid selling in frontline bluechip counters. However, stocks such as Bajel Projects, Akshar Spintex, IKIO Lighting, Raj Rayon and Flair Writing Indust, touched their fresh 52-week lows.

Catch Live Market Updates here The Indian stock market indices ended flat on Monday, the first trading of the new year 2024, while the second rung midcap and smallcap indices clocked healthy gains. The Sensex gained 31.68 points, or 0.04%, to close at 72,271.9, while the Nifty 50 ended 10.50 points, or 0.05%, higher at 21,741.90. “Market exhibited strength led by optimism on rate cuts, easing global inflation, and softer bond yields.

₹2,300 per tonne, effective Tuesday.For the past two weeks, the levy -- Special Additional Excise Duty (SAED) -- on domestic crude oil was at ₹1,300 per tonne.The ministry, through a notification, has brought down the additional excise duty on the export of diesel and aviation turbine fuel to zero.The increase in the windfall tax on the sale of locally produced crude oil comes at a time when the price of crude oil has largely been steady. On Friday, 29 December, the March contract of Brent on the Intercontinental Exchange closed at $77.49 per barrel, against $76.55 on 15 December.

Vodafone Idea: News reports claim that the government could sell its 33% stake in Vodafone Idea to tech-billionaire Elon Musk and his satellite internet venture Starlink collaborating with the carrier. Securities and Exchange Board of India (Sebi) has sought a clarification from India’s third-largest telecom service provider on the development. Vedanta Ltd: The London-based parent of India’s Vedanta Ltd has received between 20% and 40% investor votes in favour of its $3.8 billion bond restructuring exercise as of 29 December.

Agro Phos(up 11.74%), Sikko Industries(up 4.99%), Bohra Industries(up 4.90%), Nagarjuna Fertilizers & Chem(up 2.79%), ZUARIAGRO(up 2.72%), Madras Fertlizers(up 1.00%), Coromandel International(up 0.96%), Gujarat Narmada Valley Fertilizers (up 0.53%), Deepak Fertilizers & Petrochemicals(up 0.53%) and Krishana Phoschem(up 0.18%) stood among the top gainers. Mangalore Chemicals & Fertilizers(down 2.25%), Chambal Fertilisers & Chemicals(down 2.11%), Aries Agro(down 1.99%), G S F C(down 1.63%), Rama Phosphates(down 0.58%), Khaitan Chemicals & Fertilizers(down 0.50%), Fertilizers & Chemicals Tranvancore(down 0.35%), Southern Petrochemicals Industries(down 0.19%), Paradeep Phosphates(down 0.15%) and Madhya Bharat Agro Products(down 0.12%) were among the top losers of the day.

NMDC Ltd(up 1.21%) and Sandur Manganese & Iron Ores(up 0.63%) stood among the top gainers. Ashapura Minechem(down 1.81%), KIOCL(down 1.81%), 20 Microns(down 1.76%), Coal India(down 1.30%), Pokarna(down 1.03%), MOIL(down 0.98%), Orissa Minerals Development Company(down 0.76%), Gujarat Mineral Dvpt Corporation(down 0.71%), Oriental Trimex(down 0.53%) and Aro Granite Industries(down 0.41%) were among the top losers of the day.

Sensex closed flat in a highly volatile market on the first session of 2024 as gains from IT and energy stocks were offset by banking, auto and financial stocks. The 30-share BSE benchmark Sensex rose 32 points or 0.04% to settle at 72,272. The broader NSE Nifty gained 10 points or 0.05% to end at 21,742.

The NSE Nifty index ended the session 47.3 points down at 21731.4, while BSE Sensex fell 170.12 points to 72240.26. In the Nifty index, Tata Consumer Products Ltd.(up 4.40 per cent), Tata Motors Ltd.(up 3.46 per cent), Bajaj Auto Ltd.(up 1.40 per cent), Adani Enterprises Ltd.(up 1.39 per cent) and Nestle India Ltd.(up 1.26 per cent) stood among the top gainers.