Indices at previous closing
Nifty50: 18,055 ▲52 (+0.2%)
Sensex: 60,616 ▲221 (+0.3%)
Nifty Bank: 38,442 ▲94 (+0.2%)
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Paytm shares at all-time low
Shares of the leading fintech player fell 3.5% and closed at their all time low on Tuesday. Paytm’s shares were under pressure despite the strong Q3 update. The number of loan disbursal rose 401% year-on-year to 44 lakh.
In the December quarter, the user engagement also rose 37% YoY with 6 crore average monthly transacting users. However, according to reports, one of the anchor investors HDFC AMC has trimmed its stake in the company.
JSW Steel ramps up production
In the December quarter, the steel maker’s combined crude steel volume rose 28% year-on-year to 5.3 million tonnes. On a sequential basis too, the volumes rose 6%.
The management said that its capacity utilisation in Q3FY22 stood at 94%. However, it’s acquisition Bhushan Power & Steel’s production was lower mainly due to the shutdown of a plant for 10 days for upgrading automation. Meanwhile, shares of JSW Steel were down 3.4% on Tuesday.
Companies to face margin pressure in Q3
On the back of price hikes, Indian companies are likely to report a 16-17% growth in revenue in their December quarter, according to a report by Crisil. However, out of 40 sectors, 27 are likely to witness margin compression due to rise in commodity prices.
As a result, for the first time in 12 quarters, the operating margin is expected to drop by 1-2% year-on-year, adds the report. This is due to rising input cost and inability to fully pass it on to the end consumer. Meanwhile, the Nifty50 was up 0.2% yesterday.
Sectoral indices (January 11)
| Top gainers | Top losers |
| Nifty IT ▲ 1.0% | Nifty Metal ▼ 1.9% |
| Nifty Realty ▲ 0.5% | Nifty FMCG ▼ 0.3% |
Global markets (at 8:00 am today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.6% |
| Nikkei 225 (Japan) | ▲ 1.8% |
| Hang Seng (Hong Kong) | ▲ 1.8% |
| SSE Composite (China) | ▲ 0.3% |
| Dow Jones (US) (January 11) | ▲ 0.5% |
| NYSE (US) (January 11) | ▲ 1.0% |
| Nasdaq (US) (January 11) | ▲ 1.4% |
| S&P 500 (US) (January 11) | ▲ 0.9% |
Fact of the day
Produced first in 1932, the RE Bullet 350, is today the longest running motorcycle to be in continuous production.
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