The MSCI India Index trades at a 157% premium over the China gauge on valuations based on forward earnings estimates, just 3 percentage points short of the record reached in October 2022, according to data compiled by Bloomberg.

Around three months back a small liquor company, which has not been covered by any analysts and ignored by the street, announced that sales of its recently launched single malt had crossed a certain threshold. The market cap of the company went up three times in less than two months. After that stock has corrected but still is quoting very close to the high it had formed post the news. That is the power of a brand and also the fact at this point in time, the street is hungry for any new idea and a possible success story has led to this kind of reaction. But there is another thing which needs to be realized that in the liquor industry, probably some of the Indian promoters have realized that if they have to move up in the ladder, they need to have strong brands, even if it means investing better and having patience. The only unanswered question and also probably the risk associated is whether these promoters are ready to have better transparency and higher corporate governance standards .

Indian shares were muted on Tuesday, weighed by a pullback in information technology stocks after a recent rally, and amid weakness in Asian peers ahead of key economic data from China. However, in today's trade, six BSE PSU stocks hit new 52-week highs. Here's the list:

Share Price of Jyoti CNC Automation surged nearly 13% after a successful debut on the exchanges, trading at Rs 418 apiece, up 27% over the issue price. The market optimism is based on the company's market leadership, global presence in CNC machine manufacturing, and strong client base. Concerns remain regarding the high valuations. Analysts recommend booking profits and advise evaluating the company's quarterly performance for further investment.

A long buildup is when there is a rise in open interest and volumes along with an increase in the price of the underlying stock in the Futures and Options segment. The long buildup is the occurrence of a long (buying) trend in the share market. In Monday's trading session, five stocks witnessed a build of fresh long positions. Here's the list:

A short buildup is when there is a rise in open interest and volumes along with a decrease in the price of the underlying stock in the Futures and Options segment. Short buildup means more people are expecting the prices to go down and creating short positions. In Tuesday’s trading session, five stocks witnessed a build of fresh short positions. Here's the list:

Domestic benchmark equity indices were muted on Tuesday, weighed by a pullback in information technology stocks after a recent rally, and tracking Asian peers ahead of key economic data from China. As per data available on StockEdge, several largecap stocks outperformed the benchmark Nifty50 index on a 1-week and 3-month basis as of January 15. Take a look:

UBS' coverage on the new-age stock comes days before the fintech payments major is scheduled to announce its Q3 report card on Friday. The brokerage house has forecast an overall revenue CAGR of 21% in FY24-28.

If the reaction of the street to the Q3 result of large cap IT companies is anything to go by, it appears that ample liquidity and positive sentiment of the street would lead to reward for stocks wherever there is any positive surprise. But both sentiments and liquidity are fickle and one should be prepared for change in them at any point of time. One way to prepare is to stay with stocks from a sector which are defensive in nature and also to stay with companies which some development has led to improvement in analyst score, but to be sure, even check basic fundamental ratios. ET screener powered by Refinitiv’s Stock Report Plus applies different algorithms & filters to all BSE and NSE stocks, and lists stocks which fulfill the various criteria as specified into the algorithms & filters to find those which might help navigate mid cap space.

One of the basic principles of figuring out whether the stock prices have bottomed out or have topped out is how they react to the negative and positive news. Now let's use the same thing on Infy, TCS and HCL tech Q3 results reaction. The companies which have seen muted growth and given similar guidance did not do something which was very different in Q3 results. No great expansion in margins nor any indication that tech spending is back in a major way. The only difference was the expectation of the street which has been extremely low. That is why the positive reaction was witnessed and that probably the worst of the slowdown has been priced in.

The MSCI India Index trades at a 157% premium over the China gauge on valuations based on forward earnings estimates, just 3 percentage points short of the record reached in October 2022, according to data compiled by Bloomberg.

In the December quarter, RIL’s consolidated EBITDA is expected to decline by 2% on-quarter to Rs 39,997 crore due to weak refining & petchem margins which would offset decent performance from retail and Jio.

LIC shares were listed on May 17, 2022, at a discount of 8.6% to the upper price band of Rs 949 per equity share. The stock was trading amid significant volumes with over 48.64 lakh shares changing hands on the NSE around 11:20 am. Extending Monday's gains, the stock has shot up 8% in two sessions.

Shares of IRFC, RVNL, Texmaco Rail and Titagarh Rail Systems surged in Tuesday's trade, hitting fresh 52-week highs. These railway stocks are rallying ahead of the Union Budget 2024. IRFC has gained 46% in the last five trading sessions and delivered 328% returns in the past 12 months. With a market cap of over Rs 1.85 lakh crore, IRFC is the largest railway stock on the Indian exchanges. RVNL, Ircon International, Jupiter Wagons, Titagarh Rail Systems, and Texmaco Rail have also outperformed the Nifty, with significant gains ranging from 135% to nearly 300%.

Syngene International Ltd, a pharma stock, fell 15% from its September 2023 high but recovered after a Double Bottom formation. Short-term traders can buy the stock for a target of Rs 880 in the next 2 months. The stock found support above 670 levels in October and December 2023, forming a Double Bottom. It closed above the 50-week moving average in January 2024. The stock is now trading above multiple moving averages and the RSI is at 56.5, indicating bullishness.

The board of directors held a meeting on Monday to discuss the progress of the transaction between Affinity Holdings and Alpha GCC Holdings for segregation of the company’s GCC business.

The board has recommended an interim dividend payout of Rs 12.70 a share and has fixed January 23 as the record date to determine the eligible shareholders for the same. This is the third interim dividend payout by the brokerage firm for the current financial year.

PNC Infratech and PNC Infra Holdings, a wholly owned subsidiary of PNC Infratech had executed definitive agreements to sell equity stake in 12 road assets to Highways Infrastructure Trust for an enterprise value of Rs 9,005.7 crore. The road assets are in Uttar Pradesh, Madhya Pradesh, Karnataka and Rajasthan.

The share allotment for the SME IPO of Australian Premium Solar will be finalised today. Investors will know the number of shares allotted to them on the allotment date. They can check the allotment status by visiting the BSE or the registrar's website. The SME IPO was subscribed over 450 times, with the retail category subscribed 530 times, the NII portion booked 770 times, and the QIB part booked 107 times. The proceeds from the public offer will be used for capital expenditure and working capital. The company's shares will likely get listed on January 18.

The board of directors held a meeting on Monday to discuss the progress of the transaction between Affinity Holdings and Alpha GCC Holdings for segregation of the company’s GCC business.

Since it is an interim budget, the government is likely to continue with manufacturing incentives, support infrastructure-related capex in the country, and lay out a plan for disinvestments.

UBS initiated coverage on Paytm with a target price of Rs 900. Continued monetisation and EBITDA break-even are likely to drive re-rating, said UBS.

Shares of Jio Financial Services (JFSL) fell 6.25% to Rs 250.10 on BSE after reporting a 56% QoQ drop in Q3 profit. The decrease was due to the absence of dividend income on shares held in Reliance Industries (RIL) and increased operating expenses. JFSL plans to focus on secured lending, launch a leasing business, and expand its client base in insurance broking.

IBL Finance listed on NSE SME platform at a premium of 9.8% with shares debuting at Rs 56 compared to the issue price of Rs 51. The SME IPO was subscribed 18 times, with the retail investors' category subscribed 24 times. The IPO raised Rs 34.3 crore through the issuance of 67.25 lakh equity shares.

Jyoti CNC Automation's shares listed with a 12.4% premium. The IPO received strong subscription at 38.5 times. It has a robust order book of Rs 3,300 crore and posted revenue and EBITDA CAGR of 27% and 75% over FY21-23. In FY23, revenue rose 24% to Rs 929 crore and profit was at Rs 15 crore.

Its main line of business is to provide access to credit for individuals who possess gold jewelry but may need access to formal credit channels or face delays in obtaining it.

Muthoot Finance has diversified businesses such as financial services, healthcare, education, and hospitality. Strong brand value, experienced promoters, and efficient internal controls and audit systems are expected to support the overall business growth going forward, according to the brokerage.

LIC, a major investor in the Adani Group, booked profits by reducing stakes in Adani Energy Solutions, Adani Enterprises, and Adani Ports during the December quarter. They sold 3,72,78466 shares of the three Adani companies and bought 4,500 shares of Ambuja Cements.

Indian equity indices opened lower due to the decline in Asian peers. The BSE Sensex and Nifty50 both traded in the red, dragged down by IT and energy stocks. HCL Tech, Wipro, NTPC, Tech Mahindra, and Infosys opened with cuts, while JSW Steel, Tata Steel, Bajaj Finance, HDFC Bank, and Bharti Airtel opened with gains. The Nifty IT index fell, led by HCL Tech and Wipro. Aster DM Healthcare shares rose 10% after announcing a dividend for shareholders. Jio Financial Services reported a decline in net profit, causing its shares to fall.

Sensex drops 130 points, Nifty below 22,100; IRFC surges 12%, Wipro sheds 2%; JSW Steel, Bajaj Finance, Asian Paints are some of the other gainers in the morning trade.

L&T Technology Services’ daily trend is bullish to sideways. The RSI for monthly, weekly and daily are showing bullish momentum. Based on option chain analysis, the range is between 5000 and 5500. Let’s plan a trade around this.

ET Now spoke to various experts, and here's what they have to recommend for today's trading session. Kunal Bothra has a buy/sell recommendation on KCP and Voltas, while Nooresh Merani has a buy/sell recommendation on SBI and Syngene for today's trading session. Check out the targets and stoploss.

Anyone wondering whether the India juggernaut is sustainable will find the answer in bonds, which have a penchant for discerning the way of the world and telling every other market what to do.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 1% to its lowest since mid-December. Japan's Nikkei looked set to snap a sharp six-session winning streak with a 0.7% dip away from Monday's 34-year high.

Stocks that were in focus included names like Just Dial, which rose 1.82%, HDFC Life, which declined 3.55%, and Wipro, whose shares jumped 6.37% on Monday.

“ONGC stock has given a breakout above its previous swing highs in the recent upmove and the volumes are also gradually increasing indicating buying interest in the stock. Traders can buy for a target of Rs 245 in the next few weeks," says Ruchit Jain, Lead Research, 5paisa.com.

State-run banks in India are set to revamp their processes by creating a risk-based profitability measurement framework, which will involve more detailed scrutiny of securities pledged by high-value borrowers. The move is part of a proposed strategic roadmap until FY26 being developed in discussions between public sector banks (PSBs) and the government.

Non-banking financial companies (NBFC), however, are unlikely to be provided any relief by the RBI, with industry sources saying the primary goal of the original directive was to de-risk AIF exposures of NBFCs with downstream loan relationships with AIF beneficiaries, and prevent potential evergreening of doubtful advances to struggling corporates.

The Sensex gained 1.05%, or 759.49 points, to a record close of 73,327.94 after touching an all-time high of 73,402.16. The Nifty rose 0.93%, or 202.90 points, to a record close of 22,097.45. The index recorded a lifetime high of 22,115.55 intra-day. Both have gained nearly 3% in last one month.

In new directions effective immediately, exposures to state and central governments, security deposits of borrowers held as collateral and national credit guarantee schemes among others have been exempted from concentration limits allowing NBFCs to reduce their concentration risk.

Data sourced from Prime Database reveals that 48 companies spent ₹48,079 crore on buying back their stocks in 2023 - a year when the benchmark Nifty 50 appreciated over 20%. This is second only to the record of over ₹55,000 crore spent in 2017 when the benchmark index posted a return of 29%.

Jio Financial Services reported a 56% sequential fall in consolidated net profit for the quarter ended December to Rs 294 crore. Consolidated revenue from operations fell nearly 32% from the previous quarter to Rs 414 crore.

They made fresh purchases in stocks like BHEL, Inox Wind, Bank of India, Indian Bank, IDFC First Bank, SAIL and Usha Martin in their December equity portfolios.

The Reserve Bank of India plans to tighten deposit mobilisation rules for housing finance companies like PNB Housing Finance and LIC Housing Finance to align them with other non-banking finance companies. HFCs without investment grade credit ratings will be barred from raising public deposits. The ceiling on public deposits for compliant HFCs will be reduced to 1.5 times net owned funds.

About four dozen companies, including Indian Oil, Grasim, Tata Consumer, South Indian Bank, UPL, among others, have either declared or are contemplating rights issues to mobilise funds amounting to more than ₹50,000 crore.

The NSE IT Index surged 1.9% on Monday, building on Friday's 5.4% jump in the benchmark following December quarter earnings by Infosys and TCS which were not as bleak as investors had expected.

The dollar loan from MUFG was financed through the Japanese lender's Gift City branch and was priced at 110 basis points above the three- year secured overnight financing rate (SOFR), people familiar with the matter said.

Zomato shares fell 4.16% to close at ₹133.75 on Monday. In the past one month, the company's shares have gained 4.05%.

The Oil and Natural Gas Corporation stock hit a fresh 52-week high of Rs 234 in intraday trade on 15 January. It has rallied from Rs 195 recorded on December 14, 2023, which translates into an upside of about 20%. It rose over 7% in a week and more than 26% in the last 3 months. The momentum has helped the stock break out from a swing high of Rs 234 recorded in February 2015.

The highest mobilisation was made by the financial institutions and banks mopping up Rs 4.72 lakh crore, 29 per cent more than Rs 3.66 lakh crore raised in 2022.