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UBS ON GOVT BUDGET

Government to continue with consolidation

Revenue collection to marginally improve in line with nominal GDP

Key focus: capex, consumption and employment but within fiscal boundaries

Muted impact on equities

If FY26 capex is budgeted at around Rs11 trn (similar to the FY25 budgeted capex), it would be negative for L&T

10-year government bond yield to decline to 6.25% in FY26E
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India Dec Trade Deficit narrows to a six-month low of USD 21.94bln from USD 31.85 bln (Revised) in Nov vs Bloomberg Median Estimates for USD 25.8bln and our own estimates at USD 23.5bln.
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India Daybook – Stocks in News


Optiemus: Company partners Taiwan-based KunWay Technology to Drive Drone Manufacturing Localization in India. (Positive)

Finolex Cables: Company announces the launch of its new product, FinoUltra a wire for the domestic market. (Positive)

Blue Dart: Company launched India's largest integrated operating facility in Bijwasan, Delhi. (Positive)

Allcargo Gati: Q3 total volume at 113 KT vs 105 KT (YoY). (Positive)

ASK Automotive: Company announced commencement of commercial production at new facility in Karnataka by the company. (Positive)

Adani Green: A step-down subsidiary has commissioned a 57.2 MW wind power component of its wind-solar hybrid project at Khavda, Gujarat (Positive)

IRFC: Company emerges as the lowest bidder to finance ₹3,167 crore for a Jharkhand mine. (Positive)

Shoppers Stop: Net profit at ₹52.2 cr vs ₹36.9 cr, Revenue at ₹1,379.5 cr vs ₹1,237.5 cr (YoY). (Positive)

Hero Moto Corp: Company launches new Destini 125 in three variants starting at ₹80,450. (Positive)

Royal Sense: Company announced the launch of 10 new pharmaceutical products on January 14, 2025 (Positive)

Benares hotels: Company’s Q3 SL net profit 13.6 cr rupees vs 11.3 cr (YoY) Revenue 38.9 cr rupees vs 33.6 cr (YoY) (Positive)

Larsen & Toubro: Company launches second multi-purpose vessel for the Indian Navy from its Kattupalli Shipyard near Chennai. (Positive)

Welspun Corp: Company signed a MoU with Saudi Aramco to establish a state-of-the-art Longitudinal Submerged Arc Welded line pipe manufacturing facility in Saudi Arabia. (Positive)

Glenmark Life: Company announced Change of Name of the Company from ''Glenmark Life Sciences Limited'' to ''Alivus Life Sciences Limited'' (Neutral)

Sula Vineyards: Net revenue at ₹217.3 cr vs ₹219 cr, Own brands revenue at ₹194.7 cr vs ₹192.8 cr (YoY) (Neutral)

Federal Bank: Bank received a Rs. 10.46 Cr IGST penalty order from the Office of the Principal Commissioner, Central Board of Indirect Taxes and Customs, Kochi. (Neutral)

MTNL: Company announced the extension of Shri A. Robert J. Ravi's additional charge as CMD for three months. (Neutral)

Sayaji Hotels: Company announced a rights issue of equity shares totaling Rs.50 Crore. (Neutral)

Siemens: Company released its Annual Report for FY2023-24 and notice for the 67th AGM on February 12, 2025. (Neutral)

Netwotk18: Net loss at Rs 1440 cr vs Rs 58.1 cr (Exceptional loss Rs 1426 crore), Revenue at Rs 1360 cr vs Rs 1774 cr (YoY). (Neutral)

SAIL: Company appoints Alok Verma as Director In-Charge of Rourkela steel plant (Neutral)

Adani Wilmar: Company will see an ad-hoc weight up across FTSE India indices. (Neutral)

Adani Ent: Adani Group is in advanced talks with Dubai-based developer Emaar Group to acquire a majority stake in its Indian business for ₹4,000-5,000 crore: Mint. (Neutral)

Escorts Kubota: Company announced that the Delhi High Court has dismissed the appeal filed by the Income Tax Department against the company for the assessment year (AY) 1986-87 (Neutral)

Morepen Laboratories: Company said its board has approved the hiving off of its medical devices business to its subsidiary, Morepen Medtech Ltd, on a slump sale basis as a going concern. (Neutral)

Hathway Cable: Net profit at Rs 13.7 cr vs Rs 22.3 cr , Revenue at Rs 511 cr vs Rs 505 cr (YoY). (Neutral)

Hindustan Zinc: Company faces ₹92.55-crore GST penalty in Rajasthan

J&K Bank: SEBI issues warning to J&K Bank over delay in CEO announcement
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Corporate Actions

Quadrant Future Tek is set to make stock market debut today, January 14. The issue price is fixed at Rs. 290 per share.

Anand Rathi Wealth has approved Bonus Shares in ratio of 1:1 i.e. 1new Equity Shares for every 1 existing Equity Shares held, subject to shareholders approval through postal ballot and any other applicable regulatory and statutory approvals.

Mangalam Global Enterprise has approved Sub-division / Split of existing 1 Equity Share of face value of Rs. 2/- each, into 2 Equity Share of face value of Rs. 1 each, subject to the approval of the shareholders of the Company, through Postal Ballot and regulatory/statutory approvals as may be required.

Dividend

17-Jan-25
TCS: Interim Dividend - Rs. - 76.00
VKAL: Interim Dividend - Rs. - 0.10

21-Jan-25
ANGELONE: Interim Dividend

IPO
Laxmi Dental: Open: 13-Jan-25; Close: 15-Jan-25

Buyback
---

Bonus
Kitex Garments: Bonus Issue 2:1; Ex-Date: 17-Jan-25
Mayukh Dealtrade: Bonus Issue 3:5; Ex-Date: 17-Jan-25
B. N. Rathi Securities: Bonus Issue 1:1; Ex-Date: 24-Jan-25

Stock Split
Regis Industries: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 16-Jan-25
Jai Balaji Industries: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 17-Jan-25
Arunjyoti Bio Ventures: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 17-Jan-25
Nava: Stock Split From Rs. 2/- to Rs. 1/-; Ex-Date: 20-Jan-25
B. N. Rathi Securities: Stock Split From Rs. 10/- to Rs. 5/-; Ex-Date: 24-Jan-25

Right Issue
GTT Data Solutions: Ex-Date: 14-Jan-25
California Software: Ex-Date: 15-Jan-25
Quasar India: Open: 20-Dec-24; Close: 17-Jan-25
Sikko Industries: Open: 23-Dec-24; Close: 21-Jan-25
Pro Fin Capital Services: Open: 09-Jan-25; Close: 24-Jan-24
Camlin Fine Sciences: Open: 17-Jan-25; Close: 27-Jan-24
Dhanlaxmi Bank: Open: 08-Jan-25; Close: 28-Jan-24
California Software: Open: 24-Jan-25; Close: 31-Jan-24
Harshil Agrotech: Open: 10-Jan-25; Close: 05-Feb-24
Sharanam Infraproject And Trading: Open: 13-Jan-25; Close: 10-Feb-24

Open Offer
India Cements: Open: 08-Jan-25; Close: 21-Jan-24
Prataap Snacks: Open: 16-Jan-25; Close: 29-Jan-24
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Today's Headlines from :

Economic Times

I-T dept to tap Interpol in pursuit of tax dodgers and their secret assets

Jio Star targets Rs 6,000 crore from Champions Trophy, IPL

Adani Group to invest Rs 65K crore in Chhattisgarh projects

India's M&A activity sees 38% jump in CY24, $35 billion IPO pipeline

Finmin to meet heads of banks on Jan 15 to review financial inclusion schemes

Microfinance sector contracts below Rs 4 lakh crore amid loan disbursal woes

SAIL, John Cockerill to invest around ₹6,000 crore in building downstream steel plant

Pharma lobby seeks 2-year extension of schedule M deadline

Business Standard

Air India aims to double international transit traffic in three years

We're confident of hiring 40,000 freshers from campuses this year: TCS CHRO

Adani surpasses Mukesh Ambani's RIL group firms in 2024 M&A deals

Centre likely to save over Rs 70,000 crore on expenditure in FY25

JNPA will become first Indian port cross 10 mn TEU capacity mark: Wagh

CP, CD rates harden amid tight liquidity conditions in the market

Realtors seek stamp duty cuts, revised home loan limits in Budget

Mahakumbh opens on Monday with Rs 25,000 crore revenue expectations

Luxury electric vehicle retail sales in 2024 clock 6.7% growth: Fada

Financial Express

US employers opt for remote hiring to bypass likely H-1B rule change

VCs betting on NBFCs for stable investments

Andrew Ng-backed Jivi.ai launches AI platform for HMPV risk assessment

NFRA plans 7 papers to strengthen the audit standards

AMCs get ready with schemes to woo investors

Pan-India crop survey to go digital by FY26

AIFs seek special dispensation for deep-tech startups

IMF warns of weaker Indian economy in 2025 amid global uncertainty and US policy shift

FPI outflow reaches Rs 22,194 crore in January amid weak earnings and steady US dollar

Mint

China reports dip in HMPV infections amid global concern

Parliamentary panel reviews price spike of medicines


Govt to revamp revival framework for MSMEs

Nobel Hygiene eyes up to ₹200 cr in funding led by Neo Group's investment arm

TCS expects margin benefits as BSNL deal tapers; to create 25K-seat capacity in Bengaluru: CFO

Space race heats up as Jeff Bezos' Blue Origin is set to launch its first rocket

Kolkata, Bengaluru lead India's traffic congestion; Mumbai, Delhi also make list

Industry body CII seeks 10-point Ease of Doing Business reforms from Budget 2025.
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TODAYS WEEKLY CLOSING VERY IMP. WATCH 23500 MAKE OR BREAK... +/- 1% buffer.
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India Daybook Stocks in News


Lupin: Company receives Establishment Inspection Report from US FDA for its Pithampur unit-1 manufacturing facility with f Voluntary Action Indicated (VAI) classification. (Positive)

Transrail: CRSIL upgrades long term Credit Ratings of the Company’s bank loan facilities (Positive)

BHEL: Company announced the successful commissioning of Units 1 & 2 of the 6x170 MW Punatsangchhu-II Hydroelectric Project (PHEP-II) in Bhutan (Positive)

Manappuram: RBI lifts restrictions on Asirvad Micro Finance. (Positive)

ACME Solar: Company announces the commissioning of an additional 90 MW of solar power capacity in Rajasthan (Positive)

Advait Infratech: Company a Letter of Intent from Gujarat Urja Vikas Nigam Ltd for a 50 MW portion of a 500 MW battery energy storage system project in Gujarat. (Positive)

Power Finance: SPV Company Incorporated As Subsidiary of PFC Consulting (Positive)

LT Foods: Company incorporated a step-down subsidiary LT Food Arabia Limited Company, in Saudi Arabia. (Positive)

Orient Technologies: Company announced the appointment of Shrihari Bhat as its new Chief Executive Officer (Positive)

Nureca: Company obtains injunction against Threpsi, ARC international, tech-connect, injunction safeguards Nureca's brand equity and IP rights (Positive)

Mangalam Global: Board to meet on 13th January to consider stock split. (Positive)

Zen Technologies: Received patent grant for T-72 Containerized Crew Gunnery Simulator System (Positive)

Caplin Point: Company cleared the FDA inspection with zero 483 Observations (Positive)

Brigade: Company launches mixed use project in Hyderabad, eyes ₹3,300 crore revenue (Positive)

GMR Group: Secures Rs 6,300 crore investment from ADIA to reduce debt. (Positive)

Borosil Renewables: Company announces a 50% Capacity expansion in Solar Glass (Positive)

Man Ind: Sanjay Kumar Agrawal resigns as CFO of the company w.e.f January 8 (Neutral)

Tata Motors: JLR Retail sales in Q3 FY25 were 106,334 units, down 3% vs. Q3 FY24 and up 3% vs. Q2 FY25 (Neutral)

Shriram Fin: Face Value Split (Sub-Division) - From Rs 10/- Per Share to Rs 2/- Per Share (Neutral)

Shelter Pharma: Company Approved Upto Rs 50 Cr Fund Raising Via Rights Issue (Neutral)

MOIL Ltd: Company announced it received a penalty order of Rs 16.77 Cr from the Collector of Balaghat, M.P. The penalty is for excess production at the Tirodi Mine. (Neutral)

Mankind Pharma: Mr Ashish Mittal resigned as Company Secretary and Compliance Officer. (Neutral)

Nalco: Company announced Shri Brijendra Pratap Singh’s appointment as the new Chairman-cum-Managing Director of the Company. (Neutral)

Poonawalla Fincorp: Company approved issuance of NCD'S worth up to Rs 1 Billion. (Neutral)

P N Gadgil Jewellers: Company reports 24% (YoY) consolidated growth in Q3 FY25, PNG Jewellers to open 3 more stores in upcoming Quarter. (Neutral)

PI Ind Ltd: Company announced the resignation of its Company Secretary and Compliance Officer, Ms. Sonal Tiwari (Neutral)

Hindalco Industries: Company announced that its wholly owned subsidiary, Novelis Inc., is issuing $500 million in senior unsecured notes due 2030 via a private offering. (Neutral)

Transchem Ltd: Company announced the resignation of its CFO, Mr Mukesh Garach, and effective January 7, 2025. (Neutral)

JSW Energy: ICRA reaffirmed a rating of 'ICRA AA/Stable' for the company's Non-convertible Debentures and long-term Bank facilities (Neutral)

UltraTech Cement: Company gets GST order worth 1 crore along with interest. (Neutral)

Berger Paints: No material event or development to disclose in the matter of Akzo Nobel stake buy report (Neutral)

Zee Media: Company to consider raising funds by way of further public issue, QIP or other means. (Neutral)

NTPC Green: Company incorporates arm NTPC Rajasthan Green Energy as 74:26 JV of RVUNL & company (Neutral)

Kotak Mahindra: Bank to consider raising funds by issuance of NCDs on private placement basis. (Neutral)

NMDC: Company cuts Lump Ore & Fines prices by ₹350/tonne effective today. (Neutral)
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