Foreign portfolio investors (FPIs) on Wednesday net sold shares worth Rs 319 crore, provisional data showed. DIIs on the other hand, net bought shares to the tune of Rs 1,226 crore.

IndusInd bank on Wednesday reported a nearly 69% year-on-year (YoY) rise in net profit for the December quarter at Rs 1,959 crore, which was slightly higher than ET Now poll estimate of Rs 1,950 crore. Net interest income in the quarter rose 19% YoY to Rs 4,495 crore.

This could put pressure on European Securities and Markets Authority (ESMA) which has derecognised CCIL. The standoff between RBI and European financial regulators stems from the latter's demands which the Indian central bank believes is extra-territorial.

In an exchange filing, Vedanta said that Rs 312 crore is set to be paid upfront, while the balance Rs 1,128 crore will be in the form of secured, unlisted non-convertible debentures (NCDs) issued by Meenakshi Energy, which will mature in equal instalments over the next five years.

More than 40 lakh shares exchanged hands on the BSE and NSE, six times the combined average daily volume of 6 lakh shares in the last one month, exchange data showed. Analysts rolled-forward their valuation expectations and pegged their price targets to FY25 earnings growth from FY24.

India's P/E contracted by around 5% from the peak of 19.9 times at the beginning of the year as stock prices remained subdued across some of the key sectors, reflecting an uncertain demand environment though the 12-month forward earnings per share (EPS) showed improvement. The P/E contraction was higher in steel, energy, pharma and IT sectors.

Separately, the National Asset Reconstruction Company (NARCL), the highest bidder, is awaiting clarity on the payment terms from its owner, the government, on the acquisition of the twin Srei companies. This has also delayed the voting process.

According to a tax official, the enquiries are based on specific information, and assesses have been asked to explain why they have failed to disclose it in the foreign assets (FA) schedule of the I-T returns as mandated under the law.

At the end of the December quarter, the combined foreign ownership of HDFC-HDFC Bank stood at roughly 61%, according to Nuvama Alternative & Quantitative Research. This translates into an additional investible room available to foreign funds at 17.5%, it said.

The total OFS size (base size + green shoe) stood at 1 crore shares, representing 5.27% of outstanding equity shares of the company. The floor price was fixed at ₹270 per share.

The private sector bank witnessed a knee-jerk reaction on Monday post results on Saturday, but it managed to regain lost ground and rose by about 2% since then

At 9:49 a.m. ET, the Dow Jones Industrial Average was up 63.78 points, or 0.19%, at 33,974.63, the S&P 500 was up 14.36 points, or 0.36%, at 4,005.33, and the Nasdaq Composite was up 73.86 points, or 0.67%, at 11,168.98

Adani Enterprises Limited on Wednesday said that the price band for the Rs 20,000-crore follow-on public offer (FPO) will be at Rs 3,112-3,276/share. At the lower end of the price band, the shares are being offered at a discount of 13.5% to the current market price.

"Since the month of October, HDFC Bank has shown an impulsive upmove and has formed a ‘Higher Top Higher Bottom’ formation. Off late, we have seen some consolidation which seems to be just a time wise correction within and uptrend," Ruchit Jain, Lead Research, 5paisa.com, said.

This is the maiden corporate credit fund and the proceeds will be deployed for lending to small and mid-market borrowers struggling to access capital from regular institutional lenders, as per the statement.The fund will invest in high-yielding debentures and mezzanine securities in a portfolio of companies across small businesses, fintech, manufacturing, and services and the company has pegged the opportunity at over USD 7 billion.

The ECB in mid-December pledged further rate hikes, triggering a bond sell-off which drove Germany's 10-year government bond yield from around 2% to its highest since July 2011 at 2.569%.It dropped later as inflation cooled off and fell more than 10 bps on Tuesday after Bloomberg News reported that ECB policymakers were considering a smaller, 25 bps interest rate hike at the March meeting.

Indian indices ended in the green for the second straight session on Wednesday led by gains in metal stocks. From the Nifty pack, Hindalo, Tata Steel, L&T, UPL and HDFC led the list of gainers, while laggards included Tata Motors, HDFC Life, UltraTech Cement, Adani Enterprises and BPCL.“Nifty rose for the second consecutive session on January 18 driven by positive Asian cues and dovish signals from the Bank of Japan this morning. Metal stocks continued to rise post China reopening. Nifty could face resistance from 18,265 while the 18,049-18,072 band could provide support,” said Deepak Jasani, Head of Retail Research, HDFC Securities.Here are stock recommendations for Thursday:

The Nasdaq Composite gained 75.84 points, or 0.68%, to 11,170.95 at the opening bell

India's P/E contracted by around 5% from the peak of 19.9 times at the beginning of the year as stock prices remained subdued across some of the key sectors, reflecting an uncertain demand environment though the 12-month forward earnings per share (EPS) showed improvement. The P/E contraction was higher in steel, energy, pharma and IT sectors.

Earlier, alternative investment strategies were used by large institutional investors to hedge their portfolios with allocations to real estate and private equity primarily. However, with the emergence of pooling vehicles like Alternative Investment Funds (AIFs), Real Estate Investment Trusts (REITs), Infrastructure Investment Trust (InvITs), the investor base for alternative assets have become broader.

"Our third quarter revenues witnessed 0.3 per cent growth over last year. This has been in the backdrop of erratic rainfall in the domestic market and headwinds in international business. During the quarter, our domestic crop protection business grew by 7.7 per cent, crop nutrition business by 22 per cent," Rallis India Managing Director and CEO Sanjiv Lal said.

The benchmark index Sensex surged about 390 points to 61,045 on Wednesday. During this rally, 5 stocks from the BSE 500 index managed to record new 52-week highs.The 52-week high is the highest price at which a stock has traded during the last year. Some traders and investors use this technical indicator as an important factor for analysing a stock's current value and for predicting its future price movement.

Lalwani collected funds by providing unregistered investment advice to investors through his proprietary firm Capital Yield Research and Advisory from December 2015 to September 2016. Thereafter, he mobilised capital through his proprietary firm Secure Investor Investment Advisory between August 2016 and July 2017.

Under the FPO, the employee quota has been fixed at 5%, retail at 35%, non-institutional at 15%. Anchor investor bidding date for the FPO has been fixed on Jan 25.

Fear gauge index India VIX was down 0.98% from 14.59 to 14.44 levels. Volatility cooled down from higher zones and needs now to come below 14 zones for stability to resume.

Closing Bell: Sensex surges for 2nd day, ends 390 points higher; Nifty tops 18,150; Siemens, SAIL rise 4% each.

From the Sensex pack, Tata Steel and L&T were the top performers, rising over 2%. Wipro, HDFC Bank, HDFC, Bharti Airtel, NTPC and ITC also closed with gains

According to Nuvama Wealth, if the merged entity continues to have foreign investment limit above 15%, one could see incremental inflows of close to $2.5-3.0 billion ahead of the adjustment of the weightage in the MSCI index.

Delta Corp is engaged in the operation of the casino. Its segments include real estate, gaming, hospitality and others. The company operates its gaming and hospitality businesses under the DELTIN brand. It owns three casinos in Goa, including Deltin Royale, Deltin JAQK and Deltin Caravela.

Anchor investor bidding date for the FPO has been fixed on Jan 25. The company will issue shares on a partly-paid basis, ET Now reported.

"We believe that the strength in gold prices will sustain in CY23 because of the expected deterioration in the broader macroeconomic indicators both in India as well as globally," it said in a report.

The impact of the budget on the market has been on a secular decline albeit actual performance is a function of pre-budget expectations (measured by market performance ahead of the budget). Market participants still need to negotiate volatility,Desai said in a pre-Budget report.

While retail is normally associated with large stores, the retailing landscape is changing. Speciality retail is finally catching up to investors. A jewellery retail chain would have a different cycle when it comes to earnings. A spike in gold prices may not be as positive as it might appear to be for them and a wedding season is more important than even the festive season. ET screener powered by Refinitiv’s Stock Report Plus lists down stocks from the different sectors with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy".

The company continued to lose share in this segment, with a share of 13.7% in the third quarter as against 15.7% in the same period of last year. The claims ratio in this segment was high at 73%, up 120 bps year-on-year (YoY).

The company's mined metal output during the September quarter was at 2,55,000 tonne, up 2.8% YoY on the back of better grades and improved mill recoveries. Hindustan Zinc's integrated metal production in the second quarter of 2022 was 2,46,000 tonne, up 17.5% year-on-year.

"Global news flows would continue to dominate the outlook for the Indian metals sector. A faster reopening in China and stimulus has provided a new lease of life for the sector, although on ground demand improvement is still elusive. Post CNY demand would be key for further rerating," said brokerage firm CLSA.

The consensus recommendation from 17 analysts for the new-age tech stock is a buy. Out of the 17 analysts covering the stock, 13 have strong buy and buy ratings, while only one has a sell rating and the remaining three have hold ratings.

Consumer inflation has been easing for six straight months, raising hopes the Fed could soon consider softening its policy on interest rates, even though it has said it will keep raising rates this year and expects no rate cuts until 2024.

While some voices state that it is time for the government to moderate its FY24 target given that it has missed its targets the last 3 years, it is likely the Govt would continue to set an aggressive target given the background of growth push with government spending.

While retail is normally associated with large stores, the retailing landscape is changing. Speciality retail is finally catching up to investors. A jewellery retail chain would have a different cycle when it comes to earnings. A spike in gold prices may not be as positive as it might appear to be for them and a wedding season is more important than even the festive season. ET screener powered by Refinitiv’s Stock Report Plus lists down stocks from the different sectors with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy".

Every business has its own operating matrix, while some businesses require a constant dose of capital, for example banking is one of them. There are some which may require a higher amount of capital but that would be a one time requirement setting up a speciality chemical plant or for that matter setting up of any manufacturing units. In both cases, what is more important is how efficiently the management uses capital so that shareholder returns are maximized. ET screener powered by Refinitiv’s Stock Report Plus lists down stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy".

The stock was last trading at Rs 77.55, up 4.16% from previous close. In the last one year, the stock has more than doubled investors' wealth, rising 106%. On a year-to-date basis, the scrip

Meanwhile, the net NPA ratio stood at 1.61% for the quarter under review. The provision coverage ratio (PCR) came in at 90.27% at the end of the December quarter against 88.96% in the September quarter.

Oravel Stays Ltd, which operates travel tech firm and brand OYO, on Wednesday said it will refile its draft public listing application by the middle of next month. Earlier this month capital markets regulator Sebi had asked the company to refile the draft initial public offering (IPO) papers with certain updates. ET NOW's Sharad Dubey has more details as he also explains the positive triggers for Oyo.

“India’s current underperformance is likely to be temporary since India has the best growth and earnings prospects among large economies. However, concerns of a global slowdown this year and the possibility of FIIs again turning sellers at higher levels will cap the upside to the market in the near-term,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.

However, NBFCs are unable to borrow from the market or from the banking system. By reintroducing the partial credit guarantee scheme, banks can extend financial support to the NBFCs for onward lending and extend much-needed credit to the MSME sector.

Every business has its own operating matrix, while some businesses require a constant dose of capital, for example banking is one of them. There are some which may require a higher amount of capital but that would be a one time requirement setting up a speciality chemical plant or for that matter setting up of any manufacturing units. In both cases, what is more important is how efficiently the management uses capital so that shareholder returns are maximized. ET screener powered by Refinitiv’s Stock Report Plus lists down stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy".

I would also expand the tax relief for MSMEs, rationalise GST and boost credit growth in small and medium enterprises. In addition, I would expand the scope of the Emergency Credit Line Guarantee Scheme (ECLGS) for emergency help for SMEs.

Credit Suisse maintained an outperform rating on Bank of India with a target price of Rs 110. Core profitability has improved, and the provisioning remains elevated, it said.

The budget should focus on encouraging private investment through tax incentive to accelerate growth. This can include things like tax credits, deductions, exemptions, and other financial incentives to encourage entrepreneurs.