Indices at 10:00 am
Nifty50 14,467 ▼ 16 (-0.1%)
Sensex 49,162 ▼ 106 (-0.2%)
Nifty Bank 31,850 ▼ 148 (-0.4%)
In the news
Tata Motors jumps on strong JLR growth
- Shares of Tata Motors had gained nearly 11% yesterday and are up 5.0% today. China which is the second-largest market for JLR showed a strong rebound with 20% QoQ and 19% YoY jump in Q3 sales.
- For CY20, the share of EVs for JLR stood at 43% of total sales and the company expects this figure to rise further in 2021.
GAIL to consider share buyback
- On January 15, Gas Authority of India Limited (GAIL), is expected to consider a share buyback with an aim to distribute its excess cash reserves to its shareholders, including the government of India, which holds a 52.1% stake.
- The Nifty50 stock has rallied nearly 40% in Q3, and is up nearly 4.0% today. The government has asked at least eight state-run companies to consider buybacks in a bid to reduce the fiscal deficit, reports suggest.
Thyrocare rises on strong Q3
- The diagnostics chain saw a significant business revival in Q3 after business activities resumed across all states. The company achieved nearly 34% YoY growth in the quarter.
- Its non-Covid business, in particular, is showing growth after the end of the festive season. Meanwhile, Covid tests continue to contribute in terms of the volume of tests. The stock was up 2.8% today. Other diagnostic players such as Dr Lalpath Labs (+0.5%) and Metropolis (+0.4%) are also upbeat today.
Total Renewables to grab stake in Adani Green
- The Competition Commission of India (CCI) has approved Total SE’s acquisition of a minority stake in Adani Green Energy.
- The acquisition will be made via Total Renewables SAS, a fully owned subsidiary of the French multinational oil and gas major. Shares of Adani Green gained 1.1% this morning, but have ceded about 8% in January so far.
Events in this week
- Tuesday: CPI Inflation, IIP (India)
- Wednesday: Crude oil inventories (US)
- Thursday: WPI Inflation (India), Initial jobless claims (US)
Sectoral indices
| Top gainers | Top losers |
| Nifty Metal ▲ 1.4% | Nifty Pvt Bank ▼ 0.6% |
| Nifty Media ▲ 1.0% | Nifty FMCG ▼ 0.5% |
| Global markets | Today's movement |
| Nikkei 225 (Japan) | ▼ 0.0% |
| Hang Seng (Hong Kong) | ▲ 0.4% |
| SSE Composite (China) | ▲ 0.8% |
| Dow Jones (US) | ▼ 0.2% |
Fact of the day
Remember the Tata Sumo? The SUV was named after Sumant Moolgaokar, the former MD of Tata Motors.
Source: The Better India
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