Key economic indicators
Actual on 16:00 on January 02
World economic indicators
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Stocks
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Change
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|---|---|
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🇮🇳 Nifty
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+ 1.79%
|
|
🇮🇳 Sensex
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+ 1.77%
|
|
🇮🇳 India VIX
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– 5.91%
|
|
🇺🇸 S&P 500
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- 0.81%
|
|
🇺🇸 Nasdaq
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- 0.89%
|
|
🇺🇸 Dow Jones
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- 0.87%
|
|
🇪🇺 Euro Stoxx
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+ 0.42%
|
|
🇨🇳 China A50
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- 2.71%
|
|
🇨🇳 DJ Shanghai
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– 2.73%
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🇬🇧 FTSE 100
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+ 1.07%
|
|
🇯🇵 Nikkei 225
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- 0.96%
|
|
🇮🇩 IDX Composite
|
+ 1.18%
|
|
🇸🇦 Tadawul All Share
|
+ 0.21%
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Top Gainers on Indian Stock Market
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Stocks
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Change
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|---|---|
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Bajaj Finserv
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+ 7.86%
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Bajaj Finance
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+ 6.50%
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Maruti Suzuki India
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+ 5.49%
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Titan Company
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+ 0.95%
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Mahindra & Mahindra
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+ 0.88%
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Top Losers on Indian Stock Market
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Stocks
|
Change
|
|---|---|
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Petronet LNC
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- 5.72%
|
|
V-Guard
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– 3.83%
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Suzion Energy
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– 3.69%
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|
Crisil
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– 3.47%
|
|
Sun Pharmaceutical Industries
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– 0.62%
|
News
Jai Corp’s Losses and Capital Reductions
Jai Corp shares hit rock bottom on Thursday, crashing to a 52-week low of ₹247.90 after slamming into the 20% lower circuit. Heavy trading action accompanied this sharp drop, marking the stock’s third straight losing session. The trigger? A big announcement from Urban Infrastructure Holdings Pvt.., where Jai Corp holds a 32% stake. UIHPL is pushing for a capital reduction, a move that’s now up for shareholder approval. If the plan gets the green light from shareholders, the NCLT, and regulators, Jai Corp could pocket ₹364 crore. UIHPL plans to slice away 99.76% of its share capital, including equity shares and CCPS, handing ₹3,746.87 crore to its shareholders. This shake-up comes on the heels of another big transaction. Dronagiri Infrastructure Private Limited (DIPL), a UIHPL subsidiary, offloaded a 74% stake in Navi Mumbai IIA Private Limited to Reliance Industries for ₹1,628.03 crore last month. With CIDCO holding the remaining 26%, DIPL now finds itself cash-heavy, prompting its own capital reduction proposal. Jai Corp’s rough patch isn’t new. The stock has been on a downward spiral, losing over 36% in 2024 and sitting 43% below its July high of ₹438.
Snapdeal Trims Losses
Snapdeal is tightening its belt, and it’s paying off—sort of. Despite barely nudging its revenue upward in FY24, the e-commerce player slashed its net losses by a whopping 43%, bringing them down to ₹160.4 crore from the previous year’s ₹282.2 crore. Also an 88% reduction in Ebitda losses, which now stand at just ₹16 crore compared to ₹144 crore in FY23. Total outgoings shrank by 21% to ₹540.8 crore, thanks to halved employee costs (₹158.4 crore) and a scaled-back advertising spend, which dropped 24% to ₹70.4 crore. After a failed merger with Flipkart, it ditched pricey categories like electronics and appliances to concentrate on affordable items like fashion, home goods, and beauty products—most of which are priced below ₹1,000. The company also trimmed some fat elsewhere, cashing out stakes in Unicommerce and made ₹33 crore from a secondary sale of 3.4% last year and another ₹81 crore by offloading 9.2% through an IPO offer-for-sale route.
Eicher Motors Hits High Gear with December Sales Surge
Shares of the Royal Enfield (owned by Eicher Motors) maker roared ahead by 9% on Thursday, climbing to ₹5,325.75 on the BSE, all thanks to stellar December sales numbers. The company reported a 25% year-on-year surge in Royal Enfield sales, moving 79,466 units. During year sales volumes have grown 6%, reaching 7,27,077 units compared to 685059 units over the same period last year. Royal Enfield launched its first fully-owned assembly plant outside India in Bangkok this quarter, adding to its network of facilities in Argentina, Colombia, Brazil, Bangladesh, and Nepal. On the home turf, its pre-owned bike business, REOWN, has expanded to 236 cities, opening more doors for riders to embrace the brand. Trendlyne data pegs the stock’s average target price at ₹4,869, which suggests a 7% downside from the current lofty levels. By the end of Thursday, the stock closed at ₹5,307.90, up 8.65% on the day. With momentum like this, Royal Enfield seems to be firing on all cylinders, both on and off the road.
Petronet LNG Faces Regulatory Heat, Shares Plunge
Petronet LNG had a rough Thursday, with its shares taking an 8.5% dive during intra-day trading, landing at ₹317.95. The sell-off came hot on the heels of critical remarks from the Petroleum and Natural Gas Regulatory Board (PNGRB) about its tariff practices, alongside a bearish call from Citi. PNGRB claims that Petronet LNG has been milking its Dahej terminal’s success, hiking tariffs excessively despite operating at over 90% capacity. Regulator sure that there is “profiting immensely” at the expense of gas consumers. This isn’t just about Dahej, though—the regulator’s concern is that other LNG terminals might follow the same playbook. Petronet, however, isn’t going down without a fight. The company quickly issued a clarification, pointing out that PNGRB doesn’t have jurisdiction over LNG terminal tariffs. For investors, it’s a mixed bag. The stock has gained 53% over the past year, despite being 17% off its 52-week high of ₹384.90 from August. But with regulatory clouds gathering, the road ahead might be bumpier than expected.
New Accel’s $650M India Fund
Accel is making waves again, locking in $650 million for its eighth India fund, per SEC filings. That brings the venture capital giant’s India investment tally to nearly $3 billion. Accel is cashing in big time. Its $20 million bet on Swiggy turned into a 35x return after the food delivery giant went public last November. Blackbuck, another Accel portfolio star, has delivered a 4-5x return following its listing. And if you’re tracking unicorns, Accel has its fingerprints on about 20% of them in India. Accel is diversifying its playbook, targeting non-metro markets and even rural India. Don’t underestimate the countryside, either—the top 20-30% of rural spenders are dropping over $250 billion annually, according to Accel partner Anand Daniel. While competitors like Sequoia and Matrix have spun off their India units, Accel is sticking to its global roots, proving it’s in it for the long haul. For Indian entrepreneurs, especially those outside the metro bubble, that’s a big green light.
CSB Bank Shares Surge on Strong Q3FY25 Business Update
CSB Bank shares jumped 6.65% to ₹334.90 during early trade on January 2, 2025, after the bank’s Q3FY25 business update showcased impressive growth. The private sector lender reported a 26.45% YoY surge in gross advances, which reached ₹28,914 crore, compared to ₹22,867 crore in Q3FY24. Deposits also saw robust growth, rising 22.17% YoY to ₹33,406 crore. The bank’s CASA deposits increased by 5.69% YoY to ₹8,041 crore, while term deposits surged 28.10% to ₹25,365 crore. CSB Bank’s gold loan business performed exceptionally well, expanding 36.28% to ₹13,018 crore from ₹9,553 crore a year ago. Following the announcement, CSB Bank shares opened higher at ₹330. Despite the strong Q3 update, CSB Bank shares ended 2024 on a weaker note, declining 25% for the year. However, the stock has delivered a 50% return over the last five years, underperforming the Sensex, which gained 90% over the same period. Investors are optimistic that the latest results signal a turning point for the bank’s growth trajectory.
Overview
The equity markets kicked off 2025 on a strong note, with the Sensex climbing 1,436 points to close at 79,944 and the Nifty adding 446 points to settle at 24,189. Both indices rose nearly 2%, driven by stellar performances in IT and auto stocks. Intraday, the Sensex breached the 80,000 mark, while Nifty reclaimed 24,200, surpassing key technical levels, including its 20-day and 50-day moving averages. Sectorally, Nifty Auto led the charge, surging nearly 4%, while Nifty Media was the only laggard. Auto giants like Eicher Motors soared nearly 9% to an all-time high, and Maruti Suzuki posted its best single-day gain since July 2024. Bajaj Finserv and Bajaj Finance rallied around 7% each, supported by favorable broker outlooks. Broader market sentiment remained optimistic, with 48 of the Nifty 50 stocks advancing. Investor wealth increased by ₹6 trillion as the indices broke through resistance levels, including the Nifty’s 200-day moving average. Globally, Euro Stoxx 50 and Nasdaq 100 futures rose over 0.5%, signaling a tech rebound. Meanwhile, crude oil prices climbed, with Brent trading above $75 a barrel amid reports of shrinking US crude stockpiles and bullish technical indicators. Gold prices also saw a modest uptick, with gold priced at ₹7,818.3 per gram in India, reflecting a ₹460 rise. Silver remained stable at ₹93,500 per kg.