HUL's Q3 Results, Adani Wilmar IPO, and Top Buzzing Stocks Today

Fri, 21 Jan Pre-Open

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Indian share markets ended on a weak note yesterday.

Benchmark indices witnessed selling pressure for a third straight day on the back of rising US bond yields, FII selling, soaring oil prices, and concerns over inflation.

At the closing bell yesterday, the BSE Sensex stood lower by 634 points (down 1.1%).

Meanwhile, the NSE Nifty closed lower by 181 points (down 1%).

Power Grid Corp and Bharti Airtel were among the top gainers.

Bajaj Finserv and Bajaj Auto, on the other hand, were among the top losers.

The BSE Mid Cap index ended down by 0.1%, while the BSE Small Cap index ended up by 0.1%.

Sectoral indices ended on a negative note with stocks in the IT sector, energy sector and healthcare sector witnessing most of the selling pressure.

Power stocks, on the other hand, witnessed buying interest.

Shares of Bharat Dynamics and Minda Corporation hit their respective 52-week highs.

Gold prices for the latest contract on MCX were trading up by 0.1% at Rs 48,418 per 10 grams at the time of closing stock market hours yesterday.

Here are 4 factors why stock markets fell yesterday

Omicron threat: While the daily coronavirus caseload in cities such as Mumbai and Delhi are showing a slight dip, nationally, the count continues to be high.

India reported more than 300,000 cases, its highest tally since May 2021.

The rise in cases suggests that restrictions imposed by state governments are likely to continue for some time and may hamper economic activity in the near term.

Patchy earnings: With the December quarter earnings season in full swing, investors have not had much to cheer for except the odd breakthrough performance.

Most companies that have reported their earnings have either met expectations or missed them with a few surpassing estimates by a substantial mark.

Paints maker Asian Paints said its consolidated net profit dipped 18% in the December 2022 quarter. While, Bajaj Auto on Wednesday said its standalone net profits for the quarter ended December 2021 declined 22%.

Surging bond yields: The sharp surge in global government bond yields led by the US treasury bonds this week has brought a reckoning for investors, who had gotten used to abundant liquidity driving share prices higher.

The rise in bond yields has forced investors to recalibrate their optimism for growth and shift funds towards less risky assets.

The rise in bond yields has come as the US Federal Reserve is expected to raise interest rates three times in 2022, with the first expected in March.

FPI selling: The surge in global bond yields and a spike in volatility forced foreign portfolio investors (FPIs) to trim their exposure on India.

After a brief pause in the first week of January, foreign investors resumed their selling activity. FPIs have been net sellers of Indian shares for five previous sessions.

We will keep you updated on how these factors develop in the coming days and what effect they have on Indian stock markets. Stay tuned!

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Top Stocks in Focus Today

Among the buzzing stocks today will be Hindustan Unilever.

Hindustan Unilever (HUL) reported a standalone net profit of Rs 22.4 bn for the December quarter, an increase of 17% from Rs 19.2 bn reported in the same quarter last year.

HUL, India's largest consumer goods maker, has gained market share in both urban and rural areas as the country emerged from coronavirus-related lockdowns.

The FMCG major's sales rose 10% to Rs 129 bn against Rs 116.8 bn in the year-ago period.

Hindustan Unilever has clocked 11% growth in domestic consumer growth.

Business fundamentals remained strong with handsome market share gains in all divisions, both urban and rural markets and across price segments. Underlying volume growth at 2% was significantly ahead of the market, HUL said in a filing.

HUL said in the context of unprecedented inflation, it continues to manage business dynamically driving savings harder across all lines of P&L and taking calibrated pricing actions using the principles of net revenue Management.

Apollo Tyres share price will also be in focus today.

Taking forward its long-term commitment to Sustainability, the leading tyre maker, Apollo Tyres, on Thursday announced that it has ensured green power for its manufacturing facility in Chennai, its largest.

This will increase the share of renewable energy to more than 30% of the total for this manufacturing facility, the tyre maker said in a release.

Apollo Tyres has invested in CSE Deccan Solar, a subsidiary of Cleantech Solar, Rs 93 m for a 27.2% equity to get a guaranteed annual supply of 40 million units of electricity for its Chennai facility.

Considering that solar power gets produced only for a few hours every day, and there is no storage facility available, the company opted for an offtake of an optimum quantity, which is about 20% of the total requirements in Chennai.

HCL Tech Expands Digital Transformation Partnership with ams Osram

IT Company HCL Technologies (HCL) has expanded its strategic transformation partnership with ams Osram to digitise one of the optical solutions leader's key business processes and drive enterprise resource planning and customer relationship management systems standardization across the organization.

HCL will also continue to lead IT infrastructure operations integration for the client.

The partnership will enable greater maturity in ams Osram's digital execution capabilities and drive global IT operations excellence by increasing agility and scalability to accelerate innovation, HCL Tech said in a statement.

To enable this, HCL said it will develop and operate a modern digital foundation through data center, hybrid cloud and network transformation.

It will also enhance the end-user experience through increased use of artificial intelligence (AI), automation and self-service capabilities, IT service management, process modernization, and service integration and management.

Osram's post-merger mission is to become the uncontested leader in optical solutions by fostering innovation through intelligent technology that enables customers in the consumer durables, mobility, industrial, and healthcare sector.

HCL's extensive capabilities in managing complex, hybrid technology environments and its proven FENIX 2.0 digital engineering and execution framework made it ideally suited to accelerate ams Osram's digital transformation roadmap.

Adani Wilmar IPO Likely to Launch on 27 January 2022

According to a media report, FMCG company Adani Wilmar, which makes popular edible oil brand 'Fortune' and was set up in 1999 as a joint venture between Gautam Adani led Adani group and Singapore based Wilmar, is likely to launch its initial public offer (IPO) on 27 January 2022.

Their plan is to launch the issue on 27 January and close it on 31 January.

The initial plan of Adani Wilmar was to raise around Rs 45 bn via a pure primary issuance of shares.

This was later reduced to Rs 36 bn. The IPO would not have an offer for sale (OFS) component and the company had only reduced the portion of general corporate purposes and not reduced the core objects of the issue, the report added.

The firm, which aims to be the largest food company in India by 2027, is trying to muscle its way in the fast-growing consumer (FMCG) segment and unlock value through the IPO. If the plans fructify, it will be the seventh firm to be listed from the diversified Adani group's stable.

Ruchi Soya, HUL, Britannia, Tata Consumer Products, Dabur India, Marico and Nestle India are some of the firm's listed rivals and the move for an IPO comes at a time when consumers are increasingly opting for branded & packaged food products, a trend accelerated by Covid-19.

How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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