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Stock Market Highlights: Sensex, Nifty end higher; auto, realty advance, Adani Green up 8%

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Stock Market Highlights: Sensex, Nifty end higher; auto, realty advance, Adani Green up 8%

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Stock Market LIVE Updates: Indian shares edged up led by auto stocks after starting Monday's session in the red. The benchmark 30-share BSE Sensex down 7 points to start at 61,215.80, while the broader NSE Nifty50 dipped 20 points to start trade at 18,235.70. Among stocks, HCL Tech was the top loser after a mixed set of earnings, down 4.80 percent. HDFC Bank, Kotak Mahindra Bank, Cipla and NTPC were other major laggards, down up to a percent. Catch all the live updates here

Stock Market Highlights: Sensex, Nifty end higher; auto, realty advance, Adani Green up 8%
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  • Market Watch: Hemang Jani Motilal Oswal Fin Services on HeroMotoCorp

    “Because of the entire EV disruption and because the demand environment has not been good, some of the two-wheelers had gone through a lot of correction and now we are seeing a technical pullback. Our view on two-wheelers is very clear that these companies will have a combination of demand challenges as well as a possible disruption because of EV. So it makes sense to focus on passenger vehicles or a CV player like Ashok Leyland or a pure EV focused player like Tata Motors rather than trying to get into the two-wheeler space.”

  • Market Watch: Nischal Maheshwari Centrum Broking on Britannia

    I think this time most FMCG stock is going to have a pressure as far as margins are concerned and I think Britannia also would be. Secondly we are expecting some volume pressure also as far as Britannia is concerned. Stock on the valuation front seems to be in a okay spot basically so I think this is a hold for us.

  • Closing Bell: The 30-mark benchmark Sensex was up 85.88 points or 0.14 percent at 61,308.91 and the broader Nifty was up 52.30 points or 0.29 percent at 18,308.10. Among stocks, Hero MotoCorp, Grasim Industries, ONGC, Tata Motors and UltraTech Cement were the top Nifty gainers while HCL Tech was the top laggard.

  • Real Estate will require support to chart a sustained recovery: Shishir Baijal - Chairman, Managing Director, Knight Frank India

    The real estate sector was adversely impacted by the onslaught of the pandemic.  Improved sense of homeownership and some state government incentives have rekindled demand.  However, the prolonged pandemic implies that the sector will require support to chart a sustained recovery.

    Currently, there is a GST of 5% on under-construction residential units and 1% on affordable housing, but without Input Tax Credit (ITC). No GST is charged on completed units. The GST on cement and steel is 28% and 18% respectively and the tax outgo has spiked along with the rise in these commodity prices.

    As the developers cannot claim tax credits for GST paid on input items, this amount gets added to the construction cost and leads to higher apartment prices for homebuyers. Further, it also negates the purpose of GST which was to remove cascading impact of taxes. If ITC were allowed, the tax savings will be substantial and allow developers the room to lower prices. 

    The Government can use this budget session to assuage this concern and assure for restoration of ITC in the upcoming GST council meet. The government should also look at reducing the GST rate on cement to give a boost to construction activity in the economy.

  • L&T dispatches critical reactors to US for renewable diesel project ahead of schedule

    Larsen & Toubro (L&T) on Monday said that its heavy engineering arm has flagged off five critical renewable diesel reactors to North America's largest renewable diesel producer Diamond Green Diesel (DGD), two weeks ahead of the contractual delivery date. DGD is a joint venture of Darling Ingredients Inc and Valero Energy Corporation in Texas, USA.

  • PwC Global CEO Survey: 99% Indian CEOs believe economic growth will improve in India

    Over 99 percent of chief executive officers (CEOs) in India are optimistic about India's growth story in the next 12 months and some 94 percent are optimistic about the global growth, a survey showed. Indian CEOs are more optimistic as compared to world CEOs, as only 77 percent of global CEOs are believe global growth will improve this year.

    The 25th annual Global CEO Survey conducted by PricewaterhouseCoopers (PwC) polled over 4,446 CEOs from across 89 countries and territories of the world, of which, around 77 CEOs were from India.

  • NTPC plans to raise up to $ 750 million via ECB

    State-owned NTPC has invited a request for proposal (RFP) for raising up to USD 750 million (around Rs 5,570 crore) via ECB to fund its power projects, including renewable energy. "NTPC Ltd is looking to raise external commercial borrowing (ECB) in the form of term loan amounting to USD 500 million-plus greenshoe option of USD 250 million... accordingly it is requested to quote unconditional and firm rate for raising ECB," the RFP document floated by NTPC on Monday stated.

  • Budget 2022: What Dalal Street wants

    With the Union Budget being around the corner, as part of our special segment, What Market Want, CNBC-TV18 spoke to Nilesh Shah, MD, Kotak Mahindra Asset Management, Prashant Khemka, Founder, White Oak Capital Management, and Saurabh Mukherjea, Marcellus Investment Managers, to understand Dalal Street's 2022 wishlist.

  • UltraTech Cement reports 6% higher revenue YoY, margin slips nearly 700 bps YoY

    UltraTech Cement Limited, India's largest cement manufacturer, on January 17 exceeded expectations and reported a consolidated profit after tax (PAT) of Rs 1,708 crore for the quarter ended December 2021, up 7.8 percent from Rs 1,584 crore in the year-ago period. PAT during the previous quarter was Rs 1,314 crore.

  • Market Watch | Buy Jindal Saw, GNFC: Jay Thakkar, Marwadi Shares & Fin

    - Buy Jindal Saw with a target of Rs 125.

    - Buy GNFC with a stop loss of Rs 480 and a target of Rs 526-540. 

  • Budget 2022: FADA seeks GST rate cut on two-wheelers to 18 pc to spur demand

    Automobile dealers' body FADA has urged the government to reduce GST rates on two-wheelers to 18 per cent in order to generate demand in the segment. The Federation of Automobile Dealers Association (FADA), which represents over 15,000 automobile dealers having 26,500 dealerships, noted that two-wheelers are not a luxury item and hence GST rates need to come down. "FADA requests the Ministry of Finance to regulate and reduce GST rates on two-wheelers to 18 per cent and continue to move our nation to global leadership," the industry body stated on Monday. Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget 2022-23 in Parliament on February 1.

  • Bhansali Engineering Polymers Q3 earnings

    Bhansali Engineering Polymers has posted 44.4 percent fall in its Q3 consolidated net profit at Rs 75.7 crore versus Rs 136.3 crore in the same quarter last year. Revenue was down 17 percent at Rs 341.5 crore versus Rs 411.3 crore.

  • KEC International bags new orders worth Rs 1,112 crore

    KEC International has secured new orders of Rs 1,112 crore across its various businesses. The transmission & Distribution (T&D) business has secured orders for T&D projects in CIS, Middle East, and Americas.

  • Reliance Industries, Mahindra apply for Rs 18100 crore auto PLI scheme

    CNBC-TV18 has learnt that 10 companies including Reliance New Energy Solar, Ola Electric, Mahindra and Mahindra, Lucas, TVS, Hyundai Global, Amara Raja, Exide are among the participants for the Advanced Chemistry Cell (ACC) Production-Linked Incentive (PLI) scheme. The total bids are amounting up to 130-kilowatt hour which is at least 2.6 times the manufacturing capacity that had to be awarded which is a 50-gigawatt hour.

  • Metal stocks see a sharp surge. JSW Steel and Kalyani Steel up 1% each

  • Oil climbs on supply worries, limited Omicron impact

    Oil prices rose on Monday, with Brent futures touching their highest in more than three years, as investors bet supply will remain tight amid restrained output by major producers with global demand unperturbed by the Omicron coronavirus variant. Brent crude futures gained 40 cents, or 0.5%, to $86.46 a barrel by 0641 GMT. Earlier in the session, the contract touched its highest since Oct. 3, 2018, at $86.71. 

  • Rupee trades in a narrow range in early session against US dollar

    The Indian rupee was trading in a narrow range in morning trade on Monday as elevated crude oil prices negated the impact of positive domestic equities. At the interbank foreign exchange, the rupee opened lower at 74.18 against the American dollar, then inched higher to 74.16, registering a fall of 1 paisa from the last close. On Friday, the rupee had slumped 25 paise to close at 74.15 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading unchanged at 95.16.

  • Market Watch | Buy Bharti Airtel, HUL: Prakash Gaba, prakashgaba.com

    - Buy Bharti Airtel with a stop loss of Rs 720 and a target of Rs 735-740.

    - Buy HUL with a stop loss of Rs 2,360 and a target of Rs 2,420.

  • 50 more in wings to be unicorns; over 100 startups with over $1 bn valuations by 2022-end: Report

    India has 50 startups with the potential to achieve the coveted unicorn' status in 2022 and by the end of the year, the list of the new-age companies valued at over USD 1 billion will be at least 100, a report by a consultancy firm said on Monday. In 2021, which witnessed a huge spike in company valuations in the listed and unlisted space driven by ample liquidity, according to some watchers, India added 43 startups to the list and the number of unicorns shot up to 68 by the end of the year. Over USD 10 billion was invested in the Indian startup ecosystem in the October-December quarter alone, according to the report by PwC India.

  • Startup Your-Space raises USD 10 mn to grow student housing biz

     Student housing startup Your-Space has raised USD 10 million (around Rs 75 crore) from a clutch of investors for the expansion and growth of its business. The company has raised the amount in Series-A funding through a combination of pure equity and convertible debentures, Your-Space said in a statement. The funding round was led by personal investment from Shantanu Rastogi (General Atlantic) and Ajay Gupta's (Capital Foods) family office AJAX Capital and Holy Basil Consultancy.

  • Imagine marketing likely to file DRHP for its IPO by January-end

    Imagine marketing IPO to have fresh issue & OFS Rs 1,000 cr each, according to sources.

  • Oil India shares rise over 5% a day after company exits US shale venture

    Shares of state-owned Oil India Ltd (OIL) rose over 5 percent on Monday, a day after the company exited from a US shale oil venture, selling its 20 percent stake to its venture partner for $25 million — the second exit of an Indian firm from the US shale business in two months.

  • Banking frauds to surge over next two years: Deloitte Survey

    Deloitte India’s latest banking frauds survey conducted among 70 respondents across public, private, foreign, co-operative and regional rural banks reveals expectations of a rise in banking frauds over the next couple of years.

  • Metro Brands shares rally 20%; hit upper circuit limit after Q3 earnings

    Shares of footwear retail chain Metro Brands on Monday rallied 20 per cent after the company reported a 54.63 per cent jump in consolidated net profit for the third quarter ended December 2021. The stock zoomed 19.99 per cent to its upper circuit limit of Rs 609.45 on the BSE. At the NSE, it jumped 19.99 per cent to its upper circuit limit of Rs 609.50. Footwear retail chain Metro Brands has reported a 54.63 per cent jump in consolidated net profit at Rs 100.85 crore for the third quarter ended December 2021. The company had posted a net profit of Rs 65.22 crore during the October-December quarter of the previous fiscal, Metro Brands Ltd (MBL), earlier known as Metro Shoes, said in a regulatory filing.

  • In big focus is the NBFC sector this week with HDFC and Bajaj Finance set to report their Q3 numbers. What can we expect from them and the sector?

  • Market Watch: Aditya Agarwala of Yes Securities gives his buy-sell ideas

    Buy Dixon Technologies with a stop loss of Rs 5,300-5,275 and target of Rs 5,600

    Buy Ipca Laboratories with a stop loss of Rs 1,040 and target of Rs 1,120 ​

  • Glenmark Pharma gets tentative USFDA nod for generic Regadenoson injection

    Glenmark Pharmaceuticals on Monday said its US arm has received tentative approval from the country's health regulator for its generic Regadenoson injection. Regadenoson injection is given during the preparation for a radiologic examination of blood flow through the heart to test for coronary artery disease. The tentative approval granted by the United States Food & Drug Administration (USFDA) to Glenmark Pharmaceuticals Inc, USA (Glenmark) is for Regadenoson Injection, 0.4 mg/5 mL (0.08 mg/mL) Single-Dose Pre-Filled Syringe, the company said in a statement. It is the generic version of Lexiscan injection, 0.4 mg/5 mL (0.08 mg/mL), of Astellas US Inc, it added. Citing IQVIATM sales data for the 12 month period ending November 2021, the company said the Lexiscan Injection, 0.4 mg/5 mL (0.08 mg/mL) market achieved annual sales of approximately USD 659.9 million. The company said its current portfolio consists of 172 products authorized for distribution in the US marketplace and 47 abbreviated new drug applications  (ANDAs) pending approval with the USFDA.

  • Market Update: Sensex, Nifty edge up; Auto stocks gain, Hero Moto, Tata Motors lead pack

    The BSE Sensex surged 145 points to trade at 61,368 at 11:25 am, while the NSE Nifty50 rose 50 points to 18,305. Among gainers on Nifty, Hero MotoCorp surged well over 5 percent, followed by ONGC which jumped 3.63 percent. Tata Motors, Maruti Suzuki and Bajaj Auto were other gainers rising between 1.77 and 2.47 percent. HCL Tech shares continue to see sharp selling with the stock down 5.45 percent. Dr Reddy's, Coal India, Hindalco and Axis Bank were other major losers, falling between 1.14 percent and 1.18 percent.

  • FPIs invest Rs 3,117 cr in Indian markets in January so far

    Foreign portfolio investors (FPIs) reversed the three-month selling streak in January by investing net Rs 3,117 crore in Indian markets, so far this month. Depositories data showed that they pumped Rs 1,857 crore into equities and Rs 1,743 crore into hybrid instruments during January 1-14. At the same time, they pulled out Rs 482 crore from the debt segment, taking the total net inflow to Rs 3,117 crore. Prior to this, overseas investors were net sellers in the Indian markets for three consecutive months since October 2021. "IT stocks have boomed in Jan after the good results of IT majors. This is likely to be repeated in the case of financials too," noted VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services. As per Himanshu Srivastava, associate director - manager research, Morningstar India, FPIs have currently adopted cautious stance towards Indian equities.

Stock Market Highlights:
Indian shares ended in green led by auto, realty and power stocks after starting Monday's session in the red. At close, the Sensex was up 85.88 points or 0.14 percent at 61,308.91 and the broader Nifty was up 52.30 points or 0.29 percent at 18,308.10. Among stocks, Hero MotoCorp, Grasim Industries, ONGC, Tata Motors and UltraTech Cement were the top Nifty gainers while HCL Tech was the top laggard. HDFC Bank, Kotak Mahindra Bank, Cipla and NTPC were other major laggards, down up to a percent. 

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