Quant Mutual Fund purchased 10 lakh shares of Sula Vineyards

Opening Bell:

SGX Nifty is up by 1.5 points in the early morning trade, indicating a flat opening for Indian stock market.

Asia-Pacific markets traded mixed Tuesday as investors await a slew of Chinese economic data. Economists are expecting a quarterly contraction of 0.8% in the nation’s gross domestic product and 1.8% annualized growth, according to a poll by Reuters The Japanese Nikkei is up by 1.3 percent. Hong Kong’s Hang Seng is down by 0.46 percent and South Korea’s Kospi is down by 0.46 percent in early morning deals.

Stock futures were down slightly Monday night as investors attempted to keep building on early 2023 momentum and looked ahead to more corporate earnings. All three of the major indexes are up coming off a positive first two weeks of trading in the new year. The Nasdaq Composite is leading the way up 5.9%, as investors bought beat-up technology shares amid rising hopes of an improving landscape for growth stocks.

Stocks News:

?Siemens has received an order for 1,200 locomotives of 9,000 horsepower (HP) from the Indian Railways, marking the single largest order in the history of Siemens in India. It will design, manufacture, commission and test the locomotives. Deliveries are planned over an eleven-year period, and the contract includes 35 years of full service maintenance.

?Government of Tripura has signed a Memorandum of Understanding with NTPC Renewable Energy. The company in collaboration will develop large sized renewable energy projects in Tripura.

?Quant Mutual Fund purchased 10 lakh shares of wine maker Sula Vineyards via open market transactions. The average buying price for these shares is Rs 361.82 per share.

?M&M aims to deliver 20,000 units of its electric SUV XUV400, which has been launched at an introductory price starting at Rs 15.99 lakh. M&M, which had unveiled the XUV400 in September last year, said the vehicle would be launched in two variants across 34 cities in phase I.

?Foreign institutional investors (FIIs) sold shares worth Rs 750.59 crore, continuing selling for the 17th consecutive session, but domestic institutional investors (DIIs) managed to offset the FII outflow, to a major extent, by net buying shares worth Rs 685.96 crore on January 16, as per provisional data available on the NSE.

Domestic and International Events

The Reserve Bank of India on Monday tweaked norms related to acquisition and holding of shares in banks to ensure that their ultimate ownership and control remain well diversified and the major shareholders are ‘fit and proper’ on a continuing basis.
India has cut its windfall tax on crude oil and exports of aviation turbine fuel (ATF) and diesel, according to a government notification dated January 16. It cut its windfall tax on crude to 1,900 rupees ($23.28) per tonne from 2,100 rupees per tonne, effective Tuesday.
In the latest Chief Economists’ Outlook, the World Economic Forum (WEF) spoke to leading economists to find out their views on likely headwinds that businesses may face in 2023 and sought their advice on how to best tackle such economic turbulences.
Energy imports by India jumped in the nine months ended December as domestic demand remained high amid the global energy crisis. Among imported commodities, the highest surge was reported in petroleum, crude and petroleum products, followed by coal, coke and briquette, according to the data released by Ministry of Commerce & Industry on January 16.