The benchmark indices extended gains in morning trade, supported by banks and oil & gas stocks. At 10:30 IST, the barometer index, the S&P BSE Sensex, jumped 493.76 points or 0.83% at 60,095.60. The Nifty 50 index surged 147.80 points or 0.83% at 17,893.70.
In the broader market, the S&P BSE Mid-Cap index rose 0.76% while the S&P BSE Small-Cap index gained 0.82%.
The market breadth was strong. On the BSE, 2,438 shares rose and 731 shares fell. A total of 99 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,926.77 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 800.91 crore in the Indian equity market on 6 January 2022, provisional data showed.
Buzzing Index:
The Nifty Bank index rose 1.52% to 38,058.75. The index fell 0.55% in the last trading session.
Bandhan Bank (up 3.29%), AU Small Finance Bank (up 2.46%), ICICI Bank (up 1.92%), State Bank of India (SBI) (up 1.54%) and HDFC Bank (up 1.53%) were the top gainers in the Bank segment.
Ujjivan Small Finance Bank (SFB) soared 8.54%. The bank said that its gross loan book rose 22% to Rs 16,600 crore as on 31 December 2021 as against Rs 13,600 recorded on 31 December 2020. The loan book has increased by 15% as compared with Rs 14,500 crore as on 30 September 2021. Total deposits aggregated to Rs 15,600 crore as on 31 December 2021, growing 34% Y-o-Y and rising 10% Q-o-Q.
CASA ratio was at 26% as on 31 December 2021 as compared to 18% as on 31 December 2020 and 22% as on 30 September 2021. Collection efficiency (including additional collections) for December 2021 was 112%, for November 2021 was 107% and for October 2021 was 107%. GNPA for December 2021 was 10.5%, for November 2021 was 11.2% and for October 2021 was 11.6%.
RBL Bank (down 0.33%) is under the F&O ban for Friday, 7 January 2022. The securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.
Stocks in Spotlight:
Anand Rathi Wealth rose 0.20%. The company's consolidated net profit surged 144.80% to Rs 32.02 crore on 54.87% increase in total income to Rs 108.66 crore in Q3 December 2021 over Q3 December 2020. On a consolidated basis, the company's profit before tax (PBT) climbed 140.71% to Rs 42.87 crore in Q3 December 2021 over Q3 December 2020.
Total expense rose 25.70% to Rs 65.79 crore during the period under review. Employee expense jumped 43.60% year-on-year (Y-o-Y) to Rs 49.83 crore in Q3FY22. The company said its operating cash flow for 9 months April to December 2021 was Rs 86.20 crore. The board declared an interim dividend of Rs 5 per share. The record date is fixed on 20 January 2022.
Titan Company gained 0.19%. The company posted strong demand across its consumer businesses and clocked 36% growth over the festive quarter last year. The company's flagship Jewellery division saw a 37% year-on-year (Y-o-Y) revenue growth in Q3 FY22. Titan said buoyancy in jewellery demand was driven by festive purchases in October and November. Both walk-ins and customer conversions were significantly higher compared to last year. New buyer growth was higher than total buyer growth driven partly by Tanishq's regionalization strategy.
While ticket sizes were stable, Titan said they were 15% higher than pre-pandemic levels. The contribution from Tier-1 towns continued to improve and were close to pre-pandemic levels. Both plain and studded categories witnessed strong double-digit growth. Studded share in the overall pie has slightly improved compared to same period last year. Meanwhile, GHS enrolments recorded high double-digit growth rates driven by strong buyer uptick. Tanishq added 14 new stores in Q3 FY22 (net) including 2 new stores in Dubai.
Shares of Hinduja Global Solutions (HGS) hit a lower circuit of 20% at Rs 2855.45. HGS declared the third interim dividend of Rs 150 per share for the current financial year 2021-22. The company has fixed 18 January as the record date for the payment of this dividend. The dividend will be paid to the eligible shareholders and members on or before 27 January 2022.
Further, the company's board has also recommended issuing one bonus equity share for one equity share held (1:1).
Moreover, the board also approved to enhance the limits applicable for extending loans, making investments and providing guarantees or security upto Rs 3,500 crore. The proposal (under Section 186) is subject to the approval of the shareholders/ members and statutory/regulatory and other approvals, as may be necessary.
Meanwhile, Hinduja Global Solutions has completed the sale of its healthcare services business to wholly-owned subsidiaries of Betaine BV, funds affiliated with Baring Private Equity Asia (BPEA), one of the largest private alternative investment firms in Asia. The transaction was based on an enterprise value of $1,200 million, subject to closing adjustments, and resulted in inflows of $1,088 million.
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