-Sensex and Nifty close flat after a rangebound trade.

Shares of Apollo Micro Systems jumped 8 percent on Friday, extending gains to the third session, to hit a two-month high of Rs 82.75, as the company received a supply order worth Rs 18.1 crore from Bharat Dynamics. 

Shares of Dishman Carbogen Amcis hit their 5% lower circuit of Rs 84.25 after rising as much as 4 percent earlier in the day as investors booked profits. Shares of the company rose over 10 percent in two days due to investors' optimism after the company, on Thursday, announced a share buyback. The company is set to buy back up to 4.8 million shares at up to Rs 150 apiece, a 69.20 percent premium to Thursday's closing price of Rs 88.65. The company will spend up to Rs 720 million to buy back 2.97 percent of the equity through the open market. The buyback by the company comes at a time when there are concerns over its corporate governance standards and the accuracy of its financial accounts.  

Crompton Greaves Consumer Electricals Ltd surged as much as 5 percent on Friday as CLSA maintained an outperform rating on the stock at a target price of Rs 290, hoping for sustainable growth moving forward. READ MORE

Noida-based information technology giant HCL Technology will declare its Q3 results today. The December quarter is expected to be relatively better for the company.

Here are the key expectations:

1. Dollar revenue growth of 2.5 percent is expected, while constant currency revenue growth on a quarter-on-quarter basis should be 1.8-1.9 percent.

2. Margins will be on the flatter side as a contribution of products business incremental will be offset by the wage hikes.

3. Profits should be up 5 percent, according to CNBC-TV18 poll. 

Read more here

The share price of Piramal Enterprises rallied 7 percent intraday on Friday after the company sold its healthcare insights & analytics business for $950 million to Clarivate Analytics.

The company's BSE regulatory filing said, "The board of directors of the company had approved the divestment of stake in the healthcare insights and analytics business, held by the company directly and through its wholly-owned subsidiaries including PEL-DRG Dutch Holdco BV, to Clarivate Analytics Plc."

At 2:09 pm, the stock was trading 6.15 percent higher to Rs 1,642. 

Sources said: 

1. GAIL, Power Grid likely to move pleas before SC for clarification

2. PSUs likely to prefer clarification pleas, over filing review petitions before SC

3. Modification pleas can be mentioned, heard by the bench in open court

4. Modification pleas likely to seek to make a distinction between telcos, PSUs

5. Modification pleas may seek distinction based on core competencies

6. Modification pleas likely to argue that PSUs not party to hearing in the case

7. Pleas likely to argue that communication networks of PSUs form a limited number of internal users

Mutual funds in the country added Rs 2.75 lakh crore to their asset base in the nine months of FY20, which is an increase of 11.6 percent, according to a CARE Ratings report.

With this addition, mutual funds’ assets under management (AUMs) has reached Rs26.54 lakh crore in December 2019.

Overall exposure of MFs to NBFCs stood at Rs 1.65 lakh crore in the last month of 2019, a drop of about Rs 1 lakh crore since July 2018, when NBFC crisis began. MFs exposure to NBFCs declined to 11.3 percent in December 2019 from 19 percent in July 2018, according to the report. 

Click here to read the full story.

1. Indian market turned volatile on Friday after banks slipped on the recent Supreme Court ruling on AGR dues. 

2. At 12:46 pm, the Sensex was trading 34.16 points or 0.08 percent higher at 41,966.72 while the Nifty50 was at 12,353.60, down 2.10 points or 0.02 percent. 

3. Broader indices were trading higher, with Nifty Midcap100 and Nifty Smallcap100 indexes up 0.61 percent and 0.35 percent respectively. 

4. Bharti Airtel, Reliance Industries, Dr Reddy's Laboratories, Grasim and Hero MotoCorp were the Nifty50 top gainers while Bharti Infratel, YES Bank, GAIL, IndusInd Bank and BPCL remained the top losers. 

Shares of â€‹Grasim Industries plunged nearly 6 percent on Friday as investors' worries over the fate of the Aditya Birla Group company's investment in Vodafone Idea weighed on the stock. Grasim holds an 11.55 percent stake in Vodafone Idea.

The worries are that the company may have to write off its investments in a situation that could lead to Vodafone Idea going bankrupt as the Supreme Court upheld its October 24 ruling on adjusted gross revenue (AGR). Click here to read more into this story.

1. Indian market turned volatile on Friday after banks slipped on the recent Supreme Court ruling on AGR dues. 

2. At 11:35 am, the Sensex was trading 30.11 points or 0.07 percent higher at 41,962.67 while the Nifty50 was at 12,352.70, down 2.80 points or 0.02 percent. 

3. Broader indices were trading higher, with Nifty Midcap100 and Nifty Smallcap100 indexes up 0.53 percent and 0.29 percent respectively. 

4. Bharti Airtel, Reliance Industries, Grasim, Dr Reddy's Laboratories and Hero MotoCorp were the Nifty50 top gainers while Bharti Infratel, YES Bank, IndusInd Bank, GAIL and Coal India remained the top losers. 

Bharti Airtel surged in trade while Vodafone Idea plunged on Friday after Supreme Court dismissed the plea by telecom companies seeking a review of the court's October 24 ruling on AGR.

Intraday, the share price of Bharti Airtel surged 5.27 percent to Rs 498.75 per share on the NSE while Vodafone Idea's shares tanked 39 percent to Rs 3.65.

The apex court mandated the telcos to pay nearly Rs 1.02 lakh crore as a statutory payment to the government by January 23. READ MORE

With markets consistently hitting record highs, a number of stocks that were under pressure has started showing promise. Brokerage firm Prabhudas Lilladher in a report identifies multi-baggers of the past from the mid, small and microcap universe that have corrected significantly from their 10-year high but are now bouncing back with strong fundamentals intact. READ MORE

In August last year, this small-cap stock stood at its six-year low, and today it has bucked the trend by climbing 164 percent.

Established in 1993, this company was first listed in 2010 at around Rs 26 per share and rallied up to Rs 3,395 in 2015. This year, the stock has already jumped 26 percent in just 11 trading sessions. The rally this year was supported mainly by India Ratings and Research that affirmed the company’s credit ratings on January 1.

Click here to read more into the stock. 

Vodafone Idea's share price tanked 39 percent intraday after Supreme Court dismissed the plea filed by the telcos' to review its adjusted gross revenue (AGR) ruling.

At 9:32 am, the share price was trading 31.67 percent lower to Rs 4.10 per share on the NSE while on an intraday basis, the stock price tanked 39.16 percent. 

Click here to read more on the SC verdict.

1. China Q4 GDP data awaited

Considering seasonal weakness due to furloughs and muted outlook for banking financial services and retail, Tata Consultancy Services is expected to report muted revenue growth for the quarter ended on December 31, 2019, with sequential growth of dollar revenue at 1.5 percent and constant currency revenue growth at 1 percent, according to a CNBC-TV18 poll.

TCS will release its Q3FY20 earnings on January 17.

Read TCS earnings expectations here. 

The Supreme Court on Thursday dismissed review petitions of top telecom firms including Bharti Airtel and Vodafone Idea seeking review of its earlier order asking them to pay Rs 1.47 lakh crore in past statutory dues by January 23 saying it did not find any "justifiable reason" to entertain them.

The apex court had on October 24 ruled that the statutory dues need to be calculated by including non-telecom revenues in what is known as adjusted gross revenues (AGR) of telcos.

Click here to know more. 

After the Supreme Court rejected a plea filed by telecom companies to review its 24 October adjusted gross revenue (AGR) ruling, Bharti Airtel and Vodafone Idea said they could file curative petitions. The SC judgment mandates the telcos to pay nearly Rs 1.02 lakh crore as statutory payment to the government by January 23.

In a late-night statement, Vodafone Idea said, "the company is exploring further options, including the filing of a curative petition". Bharti Airtel also said it was mulling a curative petition over the AGR order. Tata Teleservices, which had also filed the review petition didn't comment on its future course of action.

The Cellular Operators Association of India (COAI), the industry association, termed the dismissal of petitions as the last straw on the sector's back reeling under financial stress.

Here's more on the story here.