Market LIVE: Sensex 500 pts down, Nifty trades in red; Maruti, TechM top drags


Shares of companies like Bajaj Finance, ICICI Prudential Life, L&T Tech, ICICI Securities, Tata Elexi, DCM Shriram, EKI Energy Services, Newgen Software, Just Dial, and Anup Engineering will be in focus as they announce their December quarter earnings today. Stocks were mixed Monday as traders weighed a global advance in sovereign bond yields and corporate developments. Global stocks have slipped this year, hurt by a retreat in U.S. shares. A key question now is whether company profits will revive sentiment, despite higher costs and challenges from the omicron virus strain.

18 Jan 2022, 03:01:05 PM IST

26 of 30 Sensex stocks in the red

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Sensex stocks
18 Jan 2022, 02:51:27 PM IST

Sensex trades in the red

BSE Sensex

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BSE Sensex
18 Jan 2022, 02:41:52 PM IST

Reliance Retail picks 54% stake in Addverb Technologies for ₹983 cr

Reliance Retail Ventures Ltd, the retail unit of Reliance Industries Ltd, has acquired 54% stake in Addverb Technologies for $132 million ( 983 crore approximately).

India-based Addverb will continue to operate independently and will use the fresh funds received from RIL to expand business overseas as well as set up one of the biggest robotic manufacturing facilities in Noida, which will be completely automated, Sangeet Kumar, Addverb Technologies co-founder and CEO, said. 

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18 Jan 2022, 02:30:30 PM IST

Landmark Cars to file DRHP papers with Sebi for over ₹750 crore IPO

Car dealership chain Landmark Cars is looking to file a draft red herring prospectus (DRHP) on Tuesday with markets regulator Securities and Exchange Board of India (Sebi, people aware of the development told Mint

18 Jan 2022, 02:18:02 PM IST

EKI Energy reports 9M FY2022 revenues of ₹1,325 crore

EKI Energy Services Limited (EKI Energy), a developer and supplier of carbon credit, today announced its results for the third quarter and 9 months period ending December 31, 2021 for FY 21-22.

9M FY2022 Performance Highlights:

Revenues from operations of Rs. 1,325 crores (Rs. 191 crores for full year FY2021)

EBITDA of Rs. 370 crores; margins expanded to 27.9 % (Rs. 25 crores for full year FY2021)

PAT of Rs. 278 crores with margins of 21.0% (Rs. 19 crores for full year FY2021)

Q3 FY2022 Performance Highlights:

Revenues from operations of Rs. 688 crores

EBITDA of Rs. 213 crores; margins 31.0%

PAT of Rs. 161 crores with margins of 23.4%

18 Jan 2022, 02:09:51 PM IST

European shares weighed down by tech stocks on rising U.S. rate hike bets

European shares fell on Tuesday, with tech stocks coming under pressure as a rise in two-year U.S. Treasury yields reflected ramped-up bets for a U.S. policy rate hike as soon as March.

The pan-European STOXX 600 index dropped 0.9%, with tech stocks declining 1.5% after U.S. Treasuries fell along the curve. Two-year yields, which track short-term rate expectations, crossed 1% for the first time since February 2020.

Oil stocks were the only ones in positive territory, jumping 0.4% as crude prices rose to their highest in more than seven years on worries about possible supply disruptions after Yemen’s Houthi group attacked the United Arab Emirates.

18 Jan 2022, 02:00:28 PM IST

Kotak Pre-IPO Opportunities Fund raises ₹2,000 crore in its maiden offer

Kotak Investment Advisors Limited (KIAL) on Tuesday announced that it has closed its maiden Kotak Pre-IPO Opportunities Fund by raising 2,000 crore. The Pre-IPO Fund will invest in a range of India focused late-stage new-age businesses with a strong moat of technology.

18 Jan 2022, 01:50:22 PM IST

Piyush Arora to be the new MD of Skoda Auto Volkswagen India

Piyush Arora will be the new Managing Director of Skoda Auto Volkswagen India Private Limited. He will take charge from March 1 as he succeeds Gurpratap Boparai. He will be responsible for expanding the Volkswagen Group’s business in India, including the recent INDIA 2.0 project of the brands Volkswagen and Skoda. SAVWIPL oversees the India operations of five Volkswagen Group brands; Skoda, Volkswagen, Audi, Porsche and Lamborghini.

18 Jan 2022, 01:40:08 PM IST

HFCL shares plunge after Q3 results as profit, revenue dip

Shares of telecom gear maker HFCL plunged as much as 9% to 88 apiece on the BSE in Tuesday’s session after the company posted 4.7% decline in consolidated profit for the third quarter ended December 31, 2021. The company had posted a profit after tax of 85 crore in the year-ago period. 

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18 Jan 2022, 01:30:34 PM IST

Finance Minister Nirmala Sitharaman to address press conference at 4:30 pm

Nirmala Sitharaman

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Nirmala Sitharaman ( Shrikant Singh)
18 Jan 2022, 01:23:46 PM IST

AGS Transact IPO view: Jyoti Roy – DVP- Equity Strategist, Angel One Ltd

AGS Transact Technologies Ltd. derives majority of its revenues by providing various services to the banking sector. The company derived 60% & 15% of its revenues from the cash management & digital services in the first 5 months of FY2022. There is no comparable company in the listed space which is exclusively engaged in the portfolio of business similar to the company. However CMS Infosystems Ltd. is engaged in cash management services which accounted for 60% of AGS Transact’s revenues. At the higher end of the price band AGS Transact would be trading at P/E multiple of 38.5xFY21 EPS which is at a premium to CMS Infosystems. Moreover AGS has high client concentration with top three customers accounting for 33.6% of revenues and has reported a loss for the first five months of FY2022. Given premium valuations, high client concentration and losses in 5MFY2022 we have a NEUTRAL recommendation on the IPO.

18 Jan 2022, 01:13:51 PM IST

Ascent Capital-backed Radiant Cash Management Services gets Sebi nod for IPO

Radiant Cash Management Services Ltd, backed by Ascent Capital, has received approval from markets regulator Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering (IPO).

18 Jan 2022, 01:03:20 PM IST

Delhivery gets Sebi’s go-ahead to raise ₹7,460 crore via IPO

Supply chain company Delhivery has received capital markets regulator Sebi’s approval to raise 7,460 crore through an initial public offering (IPO).

The IPO comprises fresh issuance of equity shares worth 5,000 crore and an offer for sale (OFS) component of 2,460 crore by existing shareholders, according to the draft red herring prospec

18 Jan 2022, 12:53:22 PM IST

Top gainers/losers at this hour

Source: NSE

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Source: NSE
18 Jan 2022, 12:40:45 PM IST

This multibagger chemical stock is HDFC Securities’ top pick, sees upside in 3 months

Vinyl Chemicals share price is in an intermediate uptrend as it has been making higher tops and higher bottoms for the last several months, highlighted domestic brokerage and research firm HDFC Securities. 

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18 Jan 2022, 12:34:23 PM IST

Banks lead Sensex stocks

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Sensex stocks
18 Jan 2022, 12:22:51 PM IST

Axis Securities has a BUY rating on HDFC Bank

HDFC Bank Limited:

Stable Quarter

CMP : 1545 | Target: 1985 | Upside : 28.5%

· Financial Performance: HCL…



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