KEY ECONOMIC INDICATORS
WORLD ECONOMIC INDICATORS
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Stocks
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Change
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|---|---|
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🇮🇳 Nifty 50
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- 0.42%
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🇮🇳 Sensex
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- 0.39%
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🇮🇳 India VIX
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+ 1.62%
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🇺🇸 S&P 500
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- 1.29%
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🇺🇸 Nasdaq
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- 1.57%
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🇺🇸 Dow Jones
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- 1.17%
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🇪🇺 Euro Stoxx
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- 0.44%
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🇨🇳 China A50
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- 1.03%
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🇨🇳 DJ Shanghai
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- 1.23%
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🇬🇧 FTSE 100
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- 0.63%
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🇯🇵 Nikkei 225
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- 1.04%
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🇮🇩 IDX Composite
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+ 0.59%
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🇸🇦 Tadawul All Share
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+ 0.07%
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TOP GAINERS ON THE INDIAN STOCK MARKET
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Stocks
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Change
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|---|---|
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Tata Consultancy
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+ 5.67%
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Tech Mahindra
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+ 3.63%
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HCL Technologies
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+ 3.13%
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Wipro
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+ 2.89%
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Infosys
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+ 2.55%
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TOP LOSERS ON INDIAN STOCK MARKET
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Stocks
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Change
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|---|---|
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Indsuind Bank
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- 4.41%
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NTPC
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- 3.78%
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Ultratech Cement
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- 3.57%
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State Bank of India
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- 2.26%
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Sun Pharmaceutical Industries
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- 2.25%
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NEWS
Jesons Industries Reignites IPO Journey
Jesons Industries, the Mumbai-based chemicals and adhesives player, has taken another swing at going public, refiling its draft red herring prospectus with SEBI. The company’s IPO game plan features a ₹300 crore fresh issue and an offer for sale of 9.46 million sharesa. Employees haven’t been left out, with a reserved portion and discounted bidding under the employee reservation category. On top of that, Jesons may explore a ₹60 crore private placement, which, if successful, will trim the fresh issue size accordingly. The fresh funds have a roadmap: ₹165 crore is earmarked to tackle outstanding debt, ₹77.9 crore will fuel capital expenditure through its subsidiary Jesons Innovative Polymers, focusing on setting up new production lines for solvent-based adhesives and flexible packaging adhesives. The rest is set aside for general corporate purposes, reinforcing the company’s growth ambitions. The IPO follows the book-building process, dividing the offer across investor types: half for institutional buyers, 15% for non-institutional investors, and 35% for retail bidders. Jesons aims to debut on both the NSE and BSE. This IPO is more than a funding exercise—it’s a strategic step to amplify Jesons’ presence in the industrial chemicals space while fueling its next phase of growth.
GTPL Hathway Stumbles on Weak Results but Hints at a Comeback
GTPL Hathway had a rough day on Friday, as its stock nosedived nearly 10 percent, hitting a 52-week low of ₹132.65. The tumble followed disappointing Q3FY25 earnings that left investors jittery. By the end of the session, the stock was trading a staggering 38 percent below its 52-week high of ₹215.05 from February 2024. The numbers told a tough story. EBITDA dipped 12.8 percent to ₹113.80 crore, and margins shrank to 12.7 percent from 15.2 percent last year. Sequentially, the story wasn’t much better: profits slid 20 percent, though revenue edged up 3.7 percent. But not all signals flashed red. Subscriber growth across GTPL’s key segments provided a glimmer of hope. In the Digital Cable TV business, active and paying subscribers both increased by 200,000 year-on-year, reaching 9.6 million and 8.9 million, respectively. The Broadband segment also showed steady progress, with subscribers rising by 37,000 to hit 1.04 million. While GTPL Hathway’s financial performance this quarter raised concerns, its expanding subscriber base and focus on infrastructure upgrades suggest a potential turnaround. Investors will be watching closely to see if this growth momentum can offset the profitability crunch in the quarters ahead.
Fabtech Technologies Makes a Dazzling Market Debut
Fabtech Technologies Cleanrooms hit the stock market running, debuting at ₹161.50 on BSE SME, a stunning 90 percent jump from its IPO price of ₹85. This remarkable start highlights the overwhelming demand for the ₹27.74 crore IPO, which saw bids pouring in during its subscription period from January 3 to January 7. The enthusiasm was palpable, with the IPO oversubscribed a jaw-dropping 227.67 times. The breakdown was equally impressive: retail investors booked 101.79 times, non-institutional investors a staggering 501.75 times, and Qualified Institutional Buyers locked in 242.4 times the shares allocated. Fabtech’s IPO consisted entirely of a fresh issue of 32.64 lakh shares, with no offer-for-sale component. Retail investors entered with a minimum lot size of 1,600 shares, requiring an investment of ₹1.36 lakh. Ahead of the IPO, Fabtech raised ₹7.89 crore from anchor investors, setting the stage for its stellar listing. The funds raised are earmarked for critical growth strategies: bolstering working capital, acquiring Kelvin Air Conditioning and Ventilation Systems Private Limited, and covering general corporate expenses. Fabtech Technologies, established in 2015, has carved a niche in cleanroom solutions, catering to pharmaceutical, healthcare, and biotech clients.
Shriram Finance Takes a Hit on Stock Split Day
Shriram Finance shares nosedived 6 percent on January 10, marking the ex-date for its 1:5 stock split. The market response was less than enthusiastic, with the stock sliding to a day’s low of ₹528.70 on the BSE, despite an initial uptick to ₹569.95 at the opening bell. By mid-session, the optimism had fizzled, and the stock was trading well below its previous close of ₹562.55. The stock split, approved back in October, reduces the face value of shares from ₹10 to ₹2 each, effectively splitting one share into five. Shareholders needed to own the stock by January 9 to qualify, given the T+1 settlement cycle. The move, aimed at increasing liquidity and making the stock more accessible to smaller investors, was finalized following shareholder approval via postal ballot on December 20. While the split may benefit the stock in the long run, recent performance paints a grim picture. Shriram Finance shares have dropped 13 percent in the past month, 20 percent in three months, and 3 percent over the past six months. Yet, on a broader scale, the stock still boasts a 25 percent gain over the last year, reflecting a resilient long-term trajectory.
Indian Real Estate Hits Record-Breaking Investment Boom
India’s real estate market hit a historic milestone in 2024, attracting a staggering USD 11.4 billion in equity investments—a 54 percent surge compared to the previous year. Foreign investors played a significant role, with Singapore leading the charge, accounting for 36 percent of foreign equity inflows. Close behind were the United States and Canada, contributing 29 percent and 22 percent, respectively. Even the UAE made a stronger play, showing a marked increase in investments compared to 2023. Yet, domestic investors remained the bedrock, driving 70 percent of the total equity inflows. Developers were the largest recipients, cornering 44 percent of the equity pie, while institutional players secured 36 percent. Corporations, REITs, and other segments rounded out the rest, reflecting a diverse ecosystem of capital flows. Looking ahead to 2025, the momentum seems unstoppable. CBRE’s Anshuman Magazine predicts a robust pipeline for office assets and residential sites, fueled by the e-commerce and quick-commerce booms. These industries are driving demand for high-quality logistics and warehousing infrastructure, creating fresh opportunities for investors and developers alike. India’s metro and tier-I cities are expected to remain the epicenters of this activity, but tier-II cities are emerging as promising alternatives. With rising real estate development, these smaller hubs are seeing healthy demand across residential, mixed-use, retail, and hospitality sectors.
Delta Corp Shares Surge After Supreme Court Offers Relief to Gaming Industry
Delta Corp saw its shares jump by up to 7 percent on January 10, following a Supreme Court decision to pause ₹1.12 lakh crore in GST show cause notices issued to online gaming companies. This temporary halt has brought a much-needed breather to the gaming sector, with proceedings suspended until a final verdict on March 17. By midday, Delta Corp shares were trading over 4 percent higher at ₹118.16 on the NSE, reflecting market optimism fueled by the ruling. The gaming industry has been grappling with 71 GST show cause notices, stemming from alleged tax evasion during 2022-23 and early 2023-24. These notices, issued by the DGGI, demand a staggering ₹1.12 lakh crore, with potential penalties pushing the figure to ₹2.3 lakh crore. The issue traces back to August 2023, when an amendment to the CGST Act imposed a 28 percent tax on the “full face value” of gaming entry amounts, retroactively applied from 2017. This sparked widespread challenges, with companies contesting the hefty demands. The Karnataka High Court had earlier annulled a ₹21,000 crore notice against Gameskraft in May 2023, but the Supreme Court stayed this ruling in September, keeping the sector in limbo. Analysts suggest that the government and companies interpret the GST rules differently. While businesses argue the 28 percent rate applies from October 2023, the government contends the amendment merely clarified pre-existing tax liabilities, leading to the massive notices.
TCS Shares Soar Nearly 5% After Strong Earnings Beat
Tata Consultancy Services (TCS) shares surged nearly 5% on Friday morning as the IT heavyweight reported an impressive 11.95% rise in net profit for the December quarter, reaching ₹12,380 crore. The stock rallied to ₹4,227.70 on the BSE, climbing 4.73%, and hit ₹4,225 on the NSE, up 4.60%. This surge added ₹69,829 crore to TCS’s market valuation, propelling it to ₹15.30 lakh crore and making it the top gainer among Sensex and Nifty constituents in an otherwise muted market. The broader IT sector also saw a ripple effect, with stocks like Tech Mahindra, Infosys, HCL Tech, and Wipro trading in positive territory. Notably, new order bookings stood at $10.2 billion, a sharp jump from $7.9 billion in the year-ago quarter. CEO K Krithivasan acknowledged ongoing macroeconomic challenges but highlighted the diversified nature of the new orders across industries, geographies, and service lines, which provides “good visibility to long-term growth.” With a strong earnings report and optimistic projections, TCS has reaffirmed its position as a bellwether for the IT sector, offering a glimmer of optimism in an otherwise challenging environment.
Adani Wilmar Faces a Rough Ride After Stake Sale Announcement
Adani Wilmar’s stock took a hit this morning, dropping nearly 9.5% to ₹292.65, as news broke that its promoter is offloading up to 20% of the company through an Offer For Sale (OFS). The sale is set to see Adani Commodities, one of the key promoters, unload 13.5% of the company’s shares, amounting to about 17.5 million shares. The kicker? The shares are being sold at ₹275 each, a sharp 15% discount from Thursday’s closing price. Just last month, Adani Enterprises, the powerhouse behind the Adani Group, decided it was time to exit its joint venture with Adani Wilmar. This sale is part of a plan to meet public shareholding rules and mark a shift in ownership. With Wilmar International agreeing to pick up the rest of the stake, the landscape for Adani Wilmar is clearly changing. As the sale kicks off for non-retail investors today and retail buyers can join in on January 13, the market is bracing for potential volatility. The numbers suggest that Adani Wilmar is holding its ground in a tough market, but the big question now is how much this fresh round of selling will shake investor confidence. With a complex shift in ownership and stock now trading under pressure, things could get even more interesting in the coming days.
India’s Trade Deficit Takes a Hit as Precious Metal Imports Get a Makeover
India’s trade deficit hit a new high in November, and the cause? A mistake on the government’s part when it comes to importing precious metals—mainly gold. Turns out, the Ministry of Commerce and Industry had been using inaccurate data for months, which was only revealed after a deeper dive into the numbers. The culprit? A new data transmission system that wasn’t as reliable as expected, leading to some serious miscalculations. For November, gold imports were initially pegged at a jaw-dropping $14.8 billion, fueling worries over a massive trade imbalance. But a revision showed that the actual number was about $5 billion less—around $9.84 billion. That discrepancy, which pushed the trade deficit to a record $37.8 billion, had analysts scratching their heads. The surge in gold imports didn’t make sense, especially after the government slashed duties on the precious metal in July. As the government works to reconcile the numbers, they’re confirming that errors like these do happen from time to time, thanks to late data and occasional tweaks. In fact, the revised import figures for the April-November period now stand at $37.39 billion for gold imports, which is $11.7 billion lower than initially thought.
OVERVIEW
The Indian stock market is in a bit of a slump, with the bears firmly in control for the third day in a row. Both the Nifty 50 and Sensex closed Friday in the red, marking their worst weekly performance of 2025. While the IT sector managed to put up a fight, the rest of the heavyweights, especially financials, couldn’t hold the line, dragging the broader market down. The Nifty 50 ended with a 0.42% loss at 23,431, while the Sensex fell 0.39% to close at 77,378.
It was a rough day for mid- and small-cap stocks, which continued to get hammered. The Nifty Smallcap 100 index hit a six-week low, dropping 2.61%, and closed the week with a 7.29% loss. Midcaps didn’t fare much better—down 2.08% for the day and losing nearly 6% for the week. The cumulative toll on these indices from the last three trading sessions has been severe, with the Nifty Smallcap 100 now down 8.2% from its January peak.
Investors are clearly spooked by the prospect of lackluster earnings in Q3FY25. While there was hope that corporate India would bounce back strongly, the latest updates from companies haven’t been encouraging. Expectations of strong growth have been tempered by modest results, leading to fears of earnings downgrades and multiple cuts. This weak earnings season, combined with high valuations, has left investors in a cautious mood, particularly in the small and mid-cap segments.
The IT sector offered a rare bit of relief. Despite the broader market struggles, the Nifty IT index rose 1.6%, thanks to upbeat comments from Tata Consultancy Services (TCS), which saw its stock jump 3.9%. TCS hinted at a potential demand revival, particularly in North America, which could boost discretionary spending and restore confidence in the IT space.
Gold prices are on the rise today, with 24-carat gold climbing ₹380 to hit ₹7938.3 per gram, and 22-carat gold following suit with a ₹350 increase, now at ₹7278.3 per gram. The upward movement marks a modest shift in the longer-term trend, with 24-carat gold up by 0.65% over the past week and 0.99% over the last month. Silver, however, is holding steady at ₹95,500 per kilogram, showing no change from the previous session.
As for the broader market, global oil prices have seen a significant jump, with Brent crude rising 2.02% to $78.47 per barrel. This increase in oil prices could signal broader inflationary pressures, which may influence precious metal prices moving forward.
As for the rest of the market, it’s clear that worries over Q3 earnings and stretched valuations are weighing heavily on sentiment. With mid- and small-cap stocks facing heavy selling pressure and the broader indices down for the week, it’s looking like a tough start to the year for Indian markets. The outlook remains uncertain, with traders likely to keep a close watch on the upcoming earnings reports.