Stocks in the news | Eicher Motors, BEML, Coal India, Ortin Labs, Tata Steel, Adani Green Energy
Follow our LIVE blog for the latest updates on the novel coronavirus pandemic and its impact
ICICIdirect:
Indian markets are likely to see a gap up opening tracking emergency approval of Coronavirus vaccines and optimism about a swift economic rebound. However, global news flows and sector specific development will be key monitorables. US markets were closed on Friday for New Year holidays.
Market at pre-open: Benchmark indices are trading higher in the pre-opening session. At 09:01 IST, the Sensex was up 97.17 points or 0.20% at 47966.15, and the Nifty as up 73.30 points or 0.52% at 14091.80.
Asian markets update: Asian share markets resumed their ascent on Monday as investors pinned their hope on vaccines to eventually deliver a global economic upturn, even as a possible tightening in virus rules for Tokyo pulled Japanese stocks off 30-year highs.
Adani Ports achieves highest monthly cargo volume ever:
Adani Ports and Special Economic Zone handled cargo volume of 27.2 MMT (includes cargo volume of 3.5 MMT of Krishnapatnam Port acquired in October 2020). The growth excluding KPCL was 14% on month on month basis and 28% on year on year basis.
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Trends on SGX Nifty indicate a positive opening for the index in India with a 103 points gain.
Japan snaps 19-month decline in factory activity in December – PMI
Japan’s factory activity ended a record 19-month run of declines in December as output stabilised for the first time in two years, suggesting manufacturers are shaking off the negative impact from the coronavirus pandemic.
The final au Jibun Bank Japan Manufacturing Purchasing Managers’ Index (PMI) rose to a seasonally adjusted 50.0 in December from the previous month’s 49.0 and a preliminary 49.7 reading.
TVS Motor December auto sales:
TVS Motor Company sales grew by 17.5% registering 2,72,084 units in December 2020 as against 2,31,571 units in the month of December 2019.
Total two-wheelers sales grew by 20% recording 2,58,239 units in December 2020 as against 2,15,619 units in December 2019.
Crude Updates: Oil prices edged lower on Monday, the first day of 2021 trading, ahead of a meeting of OPEC and allied producers to discuss output levels for February with fears for first-half demand seeping into the market as the coronavirus pandemic lingers.
Bharat Biotech obtains Central Licensing Authority’s permission to manufacture and sell COVAXIN
The Central Licensing authority has issued permission to Bharat Biotech to manufacture pharmaceutical formulation of a new drug– COVAXIN for sale or distribution on January 3.
The firm will have to submit safety data with due analysis every 15 days for 2 months and monthly thereafter.
It will also have to submit a risk management plan and provide a protocol for rolling out for restricted use of the vaccine in an emergency situation.
Asian Indices trade mixed:
