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Sensex Jumps Over 900 Points, Reclaims 60K Mark. Nifty Breaches 18.1K Mark Again


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On Monday, at 12:22 pm IST, BSE Sensex was trading 905.98 points up at 60,806.35 and NSE Nifty was trading 257.65 points up at 18,117.10.

Business News Live On January 9, 2023

Mumbai: Indian indices seem to bounce back as a fresh trading week commences after a lacklustre week that succumbed to bearish sentiments. IT stocks such as Tech Mahindra, HCL Tech, Wipro and the Tata trio — Tata Steel, Tata Motors, TCS — are in the spotlight.

On Monday, at 12:22 pm IST, BSE Sensex was trading 905.98 points up at 60,806.35 and NSE Nifty was trading 257.65 points up at 18,117.10.

STOCKS TO WATCH ON JANUARY 9, 2023

Tata Consultancy Services: IT major TCS will be announcing its Q3 results today. As per brokerages, the company’s consolidated revenue is likely to grow 16.4 per cent year-on-year, while consolidated profit after tax (PAT) is expected to increase 15.1 per cent on-year, according to brokerages. TCS is also expected to announce its third interim divided for FY23 today.

Tata Steel: The company’s business production in India has gone up 4.2 per cent at 5 million tonne and delivery volumes down 3.6 per cent at 4.73 million tonne, QoQ. The business production in Europe has come down 6.25 per cent at 2.25 million tonne and Europe business delivery volume has gone up 4.8 per cent at 1.96 million tonne, QoQ.

IDBI Bank: The government of India and Life Insurance Corporation (LIC), that are jointly looking forward to sell 60.72 per cent stake in IDBI Bank, have received multiple expressions of interest (EoIs) from both domestic and foreign investors, which will go to the successful bidder along with management control.

“Multiple expressions of interest received for the strategic disinvestment of Govt and LIC stake in IDBI Bank. The transaction will now move to the second stage,” department of investment and public asset management secretary Tuhin Kanta Pandey tweeted.

JK Cement: JK Paints & Coatings Limited, a wholly owned subsidiary of JK Cement, has acquired a 60 per cent stake in Acro Paints (APL) for Rs 153 crore.

“APL has become a subsidiary of JKPCL and a step-down subsidiary of the Company with immediate effect,” the company said in a regulatory filing.

HCL Technologies: US-based ODP Corporation has selected HCL Technologies as its primary IT partner. HCL will provide end-to-end IT operations and enterprise-wide digital transformation to support ODP’s business strategy in its Office Depot, ODP Business Solutions and Veyer business units. As part of this agreement, HCL Tech will leverage its automation and artificial intelligence (AI) capabilities to enable efficient IT operations with personalized and intuitive IT services.




Published Date: January 9, 2023 7:54 AM IST



Updated Date: January 9, 2023 12:25 PM IST





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