Hat-trick

Nifty50: 17,805▲+179 (+1.0%)
Sensex: 57,897 ▲+672 (+1.1%)

• The markets rose for the third day in a row led by heavyweight Reliance Industries and large banks.
• Most international indices were trading in the green and provided positive cues.
• Going ahead, stock specific movements could be seen as investors start factoring in the December quarter result expectations.
• Among the Nifty sectoral indices Oil & Gas (+1.3%) and PSU Bank (+1.2%) were the top gainers. Whereas, Pharma (-0.8%) and Realty (-0.5%) were the top losers.

For more updates on F&O, click here.

Here are the top stories of the day.

Yes Bank says yes to growth

In the December quarter, the private lender’s deposits grew 26% year-on-year to ₹1.8 lakh crore. Its CASA ratio also improved to 31% in Q3FY22 from 27% in Q3FY21. 

In the same period, the bank’s net advances rose 3.9% year-on-year to ₹1.7 lakh crore. After a 10% rise in December, its shares are up nearly 6% so far this month. 

Hind Zinc logs highest-ever production

India’s largest zinc-lead miner has posted its highest ever quarterly integrated metal production in December. The zinc-lead production rose 11% year-on-year to 2.6 lakh tonnes 

The rise was supported by better metal availability and improving operating parameters. Today, the stock broke out of recent consolidation and the rise was supported by high volumes. 

Marico falls as volumes flatten

The Parachute coconut oil maker highlighted that the December quarter saw slowing consumption patterns. The slackness was mainly due to inflation impacting disposable income

While its revenues grew in double digits, the growth was mainly due to price rise as the volume growth was flat. Meanwhile, its Saffola franchise grew in the high teens led by over 20% growth in the foods segment. 

IPO corner

According to the reports, the insurance behemoth LIC is expected to file its draft prospectus with the market regulator SEBI in the third week of January. The government has said that LIC will list on the exchanges before the end of the current financial year. This is expected to be India’s biggest-ever IPO with a size of ₹1 lakh crore. 

Good to know

What is the burn rate?

Burn rate means how quickly a startup is spending money. Burn rate not only helps in setting realistic business timelines but also tells how long a company has before it runs out of funds. A positive burn rate means a company is spending more money than it has or makes and that it should either cut costs or increase revenues. From an investor’s angle, burn rate is an important metric to understand if the business has a realistic chance of becoming profitable.

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