Sensex slips 100 pts, Nifty below 18.3k; auto, AGSmetal stocks drag

Top Sensex drags

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For Indraprastha Gas, surge in EV sales in Delhi NCR pose challenge

Rising demand for compressed natural gas (CNG) has remained a key growth driver for city gas distribution (CGD) companies. Favourable cost dynamics of CNG compared to other auto fuels such as petrol and diesel have led to regular growth in CNG sales. Pollution concerns in Delhi NCR have also been key reasons for consumers opting for CNG and purchasing CNG vehicles.

Rakesh Jhunjhunwala-backed Nazara Tech acquires majority stake in ad tech company Datawrkz

Gaming and sports media company Nazara Technologies on Tuesday announced that it has entered an agreement to acquire a 55% stake in programmatic advertising and monetization company Datawrkz valuing the company up to ₹225 crore linked to CY 22 EBITDA performance.

Tata Motors may launch six new SUVs in 2022

Tata Motors plans an aggressive 2022 for its portfolio of cars in India. The new 2022 portfolio will include petrol variants, and the most searched, electric cars as well. Tata Nexon remains an impressive driver for the homegrown auto major last year. Nexon became so hit that company also introduced an EV variant as well. News reports suggest that this year Tata Motors may launch a new Nexon EV with a larger battery pack and of course, mileage.

Here is the expected list

ICICI Securities sees more upside on this Tata group multibagger stock

Domestic brokerage house ICICI Securities believes, key moving parts for Tata Motors are set to turn favourably from FY23E post impacting cashflows negatively in YTDFY22. Tata Group’s auto subsidiary Tata Motors is among ICICI Securities’ top stock picks in the auto sector along with Ashok Leyland and TVS Motors. 

Shriram Transport Finance partners Skill India to train drivers for transporting oxygen tankers

Commercial vehicle financier Shriram Transport Finance Company (STFC) has partnered with Skill India to train 1,000 drivers to ensure seamless and accident-free transportation of oxygen tankers. 

Rupee falls 18 paise to 74.43 against US dollar in early trade

The rupee declined by 18 paise to 74.43 against the US dollar in opening trade on Tuesday, as strong American currency and elevated crude oil prices weighed on investor sentiments.

Forex traders said muted domestic equities and dollar buying by banks on behalf of importers also dragged the local unit down.

At the interbank foreign exchange, the rupee opened weak at 74.36 against the US dollar, then fell further to 74.43 against the greenback in early deals, registering a decline of 18 paise from the last close.

Govt’s earnings from dividends rise to ₹39,936 cr for FY22

 The government received a bumper ₹7,839 crore as dividend from Nuclear Power Corporation of India Limited (NPCIL), Power Grid Corporation of India Limited, NMDC, GAIL among others, taking the total proceeds from dividend from public sector enterprises to over ₹39,936 crore for FY22 so far.

Auto, pharma stocks drag

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Market opening view: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

“The markets are taking a bit of a breather this morning. While it is facing some resistance at 18350, the trend continues to remain positive and the Nifty should be able to achieve 18600. A strong support lies at 18100 and hence any market drop can be used to accumulate long positions.” 

Tech Mahindra’s CTC acquisition doesn’t excite the Street

Tier-1 IT services provider Tech Mahindra Ltd which is on an acquisition spree has bought an East European IT services company Com Tec Co IT (CTC) for EUR310 million, which caters to clients in the insurance vertical.Tech Mahindra has also purchased a minority stake of 25% in two insurance technology platforms called SWFT and Surance for for EUR20 million.

In a call with the analysts, the management said that CTC has industry-leading earnings before interest and tax ( Ebit) margin and will be accretive on an earnings per share, free cash flow and return on equity basis. In CY18/CY19/CY20, CTC had a revenue of EUR36.6/EUR57.6/EUR71.3, respectively, the management said.

This acquisition and it’s stake in two platforms are poised to boost Tech Mahindra’s presence in the insurance vertical. But the Street is not too enthused about it. Reacting to this development, shares of company fell by around 1.2% on the NSE in Tuesday’s opening trade.

AGS Transact Tech IPO opens tomorrow:

The initial public offering (IPO) of AGS Transact Technologies will open for subscription on Wednesday, January 19. The price band of the three day initial share-sale has been fixed at ₹166-175 a share. The bidding for anchor investors will open on January 18 and the issue will conclude on Friday, January 21.

GMP, key things to know before you subscribe

HFCL net profit, revenue fall in December quarter

HFCL Ltd today reported a consolidated net profit of ₹81 crore for the December quarter, down 5% over a year ago. It was ₹85.11 crore in the same quarter last year.

Most active stocks on Nifty 

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Sensex stocks in the first hour

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Markets at open

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Nifty at open

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Sensex in pre-open

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Nifty above 18.4k-mark in pre-open

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Stocks to Watch: L&T, M&M, Tech Mahindra, Axis Bank

Here is the list of the top 10 stocks that are likely to be in focus on Tuesday.

LIC IPO

From bankers in Mumbai to bureaucrats in Delhi, India’s Aramco moment decoded.

Granules India added to the list of 5 stocks under F&O ban on NSE today

Vodafone Idea, metal stock Steel Authority of India (SAIL), Indiabulls Housing Finance, and auto stock Escorts that were part of the ban in the previous sessions, continue to be among five stocks that have been put under the ban for trade on Tuesday, 18 January 2022 under the futures and options (F&O) segment by the National Stock Exchange (NSE).

Tech Mahindra acquires European firm Com Tec Co IT for   ₹2,620  crore

Tech Mahindra Ltd said on Monday it has agreed to buy Com Tec Co IT Ltd (CTC), a software solutions and service provider with development centres in Latvia and Belarus, for €310 million (around ₹2,620 crore).

Results to be declared today

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Gold steady as investors weigh monetary policy outlook against Omicron variant

Gold steadied after its best week in two months as traders weigh the outlook for monetary policy against the threat posed by a fresh coronavirus wave in the US.

Facing pressure from Congress and the public to tackle the hottest inflation since the 1980s, a chorus of Federal Reserve officials this month floated raising rates in March and the potential need to hike as many as five times this year, marking a clear shift in projections from just a few weeks ago.

SGX Nifty futures trading 7 points (0.03%) lower at 18,343 in early deals

Day trading guide for Tuesday

6 stocks to buy today – 18th January

Rupee falls by 10 paise to 74.25 on high dollar demand

The rupee declined by 10 paise to close at 74.25 against the US currency on Monday, declining for the second straight day due to high dollar demand and forex outflows.

Treasury yields rise

Treasury yields rose Tuesday after cash trading resumed following a holiday, while most Asian stocks advanced as investors weighed the economic recovery from the pandemic.

The drop in U.S. government bonds saw the two-year yield jump past 1% for the first time since February 2020. Investors are girding for a series of interest-rate hikes by the Federal Reserve to quell high inflation.

Shares climbed in Japan and Australia but wavered in South Korea. Nasdaq 100 and S&P 500 futures were broadly steady. U.S. markets will reopen later following a holiday.

Monday market wrap up: Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel One Ltd)

Nifty pushes beyond 18300 gradually, but stocks on a roll

Today morning, the global markets looked a bit nervous but as we approached our opening time, the SGX Nifty recovered to some extent and as a result, the week kick started the week marginally in red. Market did not take much of a time to enter the positive terrain and then remained within a slender range throughout the remaining part of the session. Although there was no real momentum in key indices, Nifty managed to reclaim the 18300 mark at the close.

Since last 3 – 4 trading sessions, the benchmark index has lost its sheen because heavyweight banking space continues to sulk a bit. But we must construe this as an index balancing because we have already seen a massive recovery and now approaching record highs when the mega event budget is around the corner. So this has applied brakes on the momentum in key indices but all this whist, if we look at the overall activity in market meticulously, there is no shortage of action in individual themes. In such times, it’s advisable not to focus on index, rather keep concentrating in stock specific moves that are likely to provide better trading opportunities. As far as levels are concerned, 18350 – 18400 are to be considered as immediate resistances; whereas on the flipside, 18200 – 18150 is to be treated as key supports now.