Stock Market Today: Record Highs and Market Outlook

The mar­ket’s record-break­ing spree con­tin­ues, fueled by a deci­sive break­out, promis­ing a sus­tained upward tra­jec­to­ry. Experts fore­see ongo­ing momen­tum, tem­pered by con­sol­i­da­tion and volatil­i­ty. Key lev­els to mon­i­tor include 22,200–22,400 as resis­tance and 21,900–21,800 as sup­port.

January 15 Surge: BSE Sensex and Nifty 50

On Jan­u­ary 15, the BSE Sen­sex surged 759 points to 73,328, dri­ven by tech­nol­o­gy, banks, and Reliance Indus­tries. Simul­ta­ne­ous­ly, the Nifty 50 soared 203 points to 22,098, form­ing a bull­ish can­dle­stick pat­tern, indi­cat­ing robust buy­ing inter­est at low­er lev­els.

January 16: Earnings Focus

Mul­ti­ple com­pa­nies, includ­ing HDFC Bank, ICICI Lom­bard, L&T Tech­nol­o­gy Ser­vices, and oth­ers, are set to declare their Decem­ber FY24 quar­ter earn­ings on Jan­u­ary 16.

Angel One’s Robust Performance

Retail stock broking firm Angel One report­ed a net prof­it of Rs 260.3 crore, mark­ing a 14.2% YoY growth. Despite a sig­nif­i­cant rev­enue surge of 41.5% YoY to Rs 1,059 crore, mar­gins dipped to 37.6%. The com­pa­ny declared an inter­im div­i­dend of Rs 12.7 per share for FY24.

Jio Financial Services Update

Jio Finan­cial record­ed a con­sol­i­dat­ed prof­it of Rs 293.82 crore in Q3 FY24, with a notable decline from the pre­vi­ous quar­ter. The board appoint­ed Rupali Adhikari Sawant as Group Head of Inter­nal Audit and Sud­heer Red­dy Gov­u­la as Group Chief Com­pli­ance Offi­cer.

Rail Vikas Nigam’s Contract Win

Rail Vikas Nigam secured a con­tract as the low­est bid­der for 11 KV line-asso­ci­at­ed works in var­i­ous cir­cles of MPPKVVCL, Jabalpur. The con­tract spans 24 months.

Zomato Share Sale

Moti­lal Osw­al Mutu­al Fund sold 4.5 crore equi­ty shares (0.51% stake) in Zoma­to via open mar­ket trans­ac­tions at an aver­age price of Rs 138.15 per share.

Patanjali Foods’ Q3 Performance

Patan­jali Foods report­ed sta­ble edi­ble oil prices in Q3 FY24, with sin­gle-dig­it sequen­tial and YoY vol­ume growth. Brand­ed sales con­tributed 75% to total edi­ble oil sales vol­ume.

Corporate Developments: Shakti Pumps and Aster DM Healthcare

Shak­ti Pumps will con­sid­er rais­ing funds through a pref­er­en­tial allot­ment or pri­vate place­ment. Aster DM Health­care’s stake sale in GCC busi­ness is pro­gress­ing, with the board con­tem­plat­ing a div­i­dend dis­tri­b­u­tion based on the deal.

Infrastructure Deals: PNC Infratech

PNC Infrat­e­ch and its sub­sidiary will divest 12 road assets to High­ways Infra­struc­ture Trust for an enter­prise val­ue of Rs 9,005.7 crore.

Usha Martin’s Acquisition Move

Usha Siam Steel Indus­tries in Thai­land, a sub­sidiary of Usha Mar­tin, is set to acquire a 50% stake in Tesac Usha Wirerope Com­pa­ny, a joint ven­ture, from Kobel­co Wire Com­pa­ny.

In con­clu­sion, the mar­ket’s upward trend, earn­ings announce­ments, and strate­gic moves by key play­ers indi­cate a dynam­ic and evolv­ing land­scape. Investors should stay tuned for fur­ther devel­op­ments in this dynam­ic stock mar­ket envi­ron­ment.

Con­tract note – An impor­tant doc­u­ment while deal­ing in Stock Mar­ket.

For more infor­ma­tion relat­ed to invest­ments in secu­ri­ties mar­ket, please vis­it SEBI Investor Web­site https://t.co/PXqhXXiCUk #Investoraware­ness #Inve­storE­d­u­ca­tion #Invest­ment #BSE #BSEIn­dia pic.twitter.com/TEtF8Nx1Ir

— BSE India (@BSEIndia) Jan­u­ary 11, 2024

MediAssist IPO

The Medi Assist Health­care Ser­vices IPO begins with a mod­est start, record­ing a sub­scrip­tion of 54% on the first day. Despite the slow ini­tial response, opti­mism pre­vails for a suc­cess­ful out­come, with two more days remain­ing for investors to par­tic­i­pate in the sub­scrip­tion of the Medi Assist IPO.

Ahead of the IPO, Medi Assist secured Rs 351.5 crore through its anchor book issue. Notable names among anchor investors include Nomu­ra Trust, Gold­man Sachs, Ashoka Whiteoak, Pine­bridge Glob­al Funds, Troo Cap­i­tal, HSBC, and var­i­ous domes­tic investors.

The IPO presents a unique oppor­tu­ni­ty in the health­care admin­is­tra­tion sec­tor, backed by a wide­spread net­work and strate­gic posi­tion­ing. Investors are close­ly watch­ing the devel­op­ments as the sub­scrip­tion peri­od pro­gress­es. 📈 #Medi­As­sis­tIPO #Stock­Mar­ket #Health­careAd­min­is­tra­tion

Epack Durable IPO Details

Epack Durable, the sec­ond-largest orig­i­nal design man­u­fac­tur­er of room air con­di­tion­ers in India, announces its maid­en pub­lic issue. The IPO is set to open on Jan­u­ary 19 and close on Jan­u­ary 23, with a price band of Rs 218–230 per share. The com­pa­ny aims to raise Rs 640 crore at the upper price band, com­pris­ing a fresh issue of Rs 400 crore and an offer-for-sale (OFS) of 1.04 crore equi­ty shares by exist­ing share­hold­ers. The anchor book opens on Jan­u­ary 18. This marks the third pub­lic issue of the year, fol­low­ing Jyoti CNC Automa­tion and Medi Assist Health­care Ser­vices IPOs and pre­cedes the Nova Agritech IPO.

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