*AUROBINDO PHARMA:* CO ANNOUNCES THAT CO SUBSIDIARY HAS EXPANDED THE SCOPE OF ITS MARKETING AND DISTRIBUTION AGREEMENT WITH ORION CORPORATION (ORION) TO COMMERCIALIZE ITS BIOSIMILARS PIPELINE TO INCLUDE THE BALTIC STATES IN EUROPE. (SUPPORTIVE FOR STOCK PRICES)

*MARKSANS PHARMA:* CO ANNOUNCES FINAL APPROVAL FOR CETIRIZINE HYDROCHLORIDE TABLETS 5 MG AND 10MG FROM US FDA. (SUPPORTIVE FOR STOCK PRICES)

*Sector Update*

Railway stocks seen Buying move and trading at day’s high.

*Top Picks*

RITES CMP 276.0 Support 272.0 TGT 286.0
RAILTEL CMP 121.0 Support 119.0 TGT 126.0
TEXRAIL CMP 38.5 Support 37.0 TGT 42.0
IRCON CMP 47.0 Support 46.0 TGT 50.0

*Tradable Stocks in News*


*Federal Bank:* Fedbank Financial Services board approves initiating IPO process. (Positive 95.0 Support 93.0 TGT 100.0)

*UltraTech Cement;* Commissions line II of Bara grinding unit with 2 MTPA capacity in UttarPradesh (Positive 7590.0 Support 7542.0 TGT 7680.0)

*Delta Corp:* Net Profit at Rs 70.4 crore versus Rs 12.8 crore YoY (Positive 280.0 Support 277.0 TGT 288.0)

*PI Industries:* Life Insurance Corporation of India acquired 72,000 equity shares in the company via open market transactions on January 10 (Positive 2860.0 Support 2832.0 TGT 2920.0)

*IRFC:* The company has appointed Joint Lead Managers and Joint Bookrunners for its $700 crore global medium-term note programme. (Positive 22.0 Support 25.0 TGT 21.0)

*Container Corp:* Says 3Q volumes up 6.8% y/y. (Positive 643.0 Support 635.0 TGT 660.0)

*Tata Consumers:* Appoints Gharry Eccles as President- International Business (Positive 735.0 Support 728.0 TGT 758.0)

JP Morgan on *NMDC:* Upgrades to Overweight on company, target price at Rs 210/Sh (Positive 135.0 Support 132.0 TGT 142.0)

Macquarie on *SBI Cards:* Maintains Outperform on company, target price at Rs 1230/Sh (Positive 880.0 Support 871.0 TGT 910.0)

Jefferies on *Varun Beverages:* Maintains Buy on company, target price at Rs 1215/Sh (Positive 865.0 Support 854.0 TGT 888.0)

CLSA on *Sun Pharma:* Maintains Buy on company, target price at Rs 1100/Sh (Positive 830.0 Support 820.0 TGT 860.0)

CLSA on *Bharat Forge:* Downgrade to Sell on company, cut target price at Rs 690/Sh (Negative 771.0 Resistance 776.0 TGT 758.0)

NIFTY BUYING ZONE SUPPORT 17850 AND SELLING ZONE 18480. AND BANKNIFTY BUYING ZONE 38080 AND SELLING ZONE 38888

*Sector Update*

Chemical stocks seen Buying move and trading at day’s high.

*Top Picks*

TATACHEM CMP 985.0 Support 975.0 TGT 1025.0
SRF CMP 2560.0 Support 2521.0 TGT 2640.0
DEEPAKNTR CMP 2610.0 Support 2575.0 TGT 2660.0
GHCL CMP 410.0 Support 401.0 TGT 432.0
GNFC CMP 451.0 Support 445.0 TGT 467.0

*POWERGRID:* LIC BOUGHT 7.5% STAKE IN CO DURING Q3 (SUPPORTIVE FOR STOCK PRICES)

We were the first to give out this Call.
🚀

Stocks in News*


*Infosys:* Net profit at Rs 5,809 cr vs Rs 5,421 cr (QoQ). Guidance FY22 revenue growth guidance raised to 19.5-20% from 16.5-17.5% (Positive)

*Manappuram Finance:* Board meeting to be held on January 17 to consider raising funds via NCDs. (Positive)

*TCS:* Company announces buyback valued at Rs 18,000 cr at Rs 4,500/sh. (Positive)

*Tata Motors:* Company continues to see strong demand for its products with global retail orders at record levels (Positive)

*Rites:* Company signs MoU with IIT Roorkee to explore viable business opportunities in the infrastructure sector. (Positive)

*NALCO:* Company operationalizes 100% of its Pots; brings into operation 960 pots in its smelter plant at Angul. (Positive)

*Sandhar:* The Company has applied under the PLI Scheme for Automobile and Auto Components Sector. (Positive)

*IRCTC:* Indian Railways to restore 2 important trains running between Delhi & Mumbai this month

*Route:* Bank of Maharashtra to transform its customer communications with WhatsApp Banking Service using CPaaS solutions of Route Mobile Limited (Positive)

*Lumax:* Company has commenced its commercial production, of Electronic Components for automotives (Positive)

*HAL:* ICRA has upgraded rating from [ICRNAA+ and outlook revised to Stable from Positive (Positive)

*PB Fintech:* Paisabazaar.com reaches $1.1 billion annualized loan disbursal rate, provides access to credit across 668 cities (Positive)

*Adcon Capital:* To consider stock-split, rights issue on Jan. 21 (Positive)

*Titagarh:* Company acquires infrastructure of erstwhile Precision Shipyard to expand its Ship-building business” (Positive)

*Power Grid:* Company signs a Joint Development Agreement with Africa50 to develop the Kenya Transmission Project (Positive)

*TCS:* Revenue at Rs 48885.0 cr vs poll of Rs 48481.0 cr, Profit at Rs 9769.0 cr vs poll of Rs 9862.0 cr. (Neutral)

*Akshar Chem:* CARE has reviewed the ratings on the bank facilities of the Company and reaffirmed the rating for the Short term Bank Facilities (Neutral)

*Wipro:* $ revenue at $2,639.7 m vs CNCB-TV18 poll of 2,673 m, Revenue at Rs 20432.3 cr vs poll of Rs 20460 cr. (Negative)

NIFTY BUYING ZONE SUPPORT 18018 AND SELLING ZONE 18530. AND BANKNIFTY BUYING ZONE 38380 AND SELLING ZONE 39100

Stock Update: *TATA CHEM* at highest levels since October as price pierced 1001.0 levels, Support 989.0 TGT 1030.0

Stock Update: *HINDALCO* at highest levels since October as price pierced 500.0 levels, Support 495.0 TGT 512.0

Nifty 18200 CALL OPTION 20th January at 175, can hold position for TGT 260.0 with SL 80.0

Nifty Bank 38800.0 CALL OPTION 20th January at 418, can hold position for TGT 620.0/720.0 with SL 230.0

Stock Update: *AU BANK* at highest levels since October as price pierced 1310.0 levels, Support 1292.0 TGT 1340.0

*Sector Update*

Pharma stocks seen Buying move and trading at day’s high.

*Top Picks*

DRREDDY CMP 4738.0 Support 4710.0 TGT 4780.0
AURO PHARMA CMP 721.0 Support 714.0 TGT 740.0
CADILA CMP 447.0 Support 443.0 TGT 458.0
GLENMARK CMP 523.0 Support 517.0 TGT 535.0
LUPIN CMP 962.0 Support 954.0 TGT 978.0

#MarketNews - Bet on infrastructure related sectors ahead of the Union Budget 2022: George Heber Joseph of ITI Mutual Fund

Read: https://ipoinfo.co.in/bet-on-infrastructure-related-sectors-ahead-of-the-union-budget-2022/

#BusinessNews - Adani Group has signed an agreement to build a steel plant in Gujarat.

Read: https://ipoinfo.co.in/adani-group-has-signed-an-agreement-to-build-a-steel-plant-in-gujarat/

*Tradable Stocks in News*


CLSA on *HDFC Life:* Maintains Buy on company, raise target price at Rs 815/Sh (Positive 668.0 Support 660.0 TGT 682.0)

CLSA on *SBI Life:* Maintains Buy on company, raise target price at Rs 1800/Sh (Positive 1248.0 Support 1230.0 TGT 1280.0)

CLSA on *ICICI Pru Life:* Maintains Buy on company, target price at Rs 750/Sh (Positive 587.0 Support 580.0 TGT 600.0)

*Glenmark* gets USFDA nod for Ryaltris nasal spray (Positive 518.0 Support 510.0 TGT 532.0)

Jefferies on *ACC:* Maintains Buy on company, raise target price at Rs 2950/Sh. (Positive 2301.0 Support 2280.0 TGT 2360.0)

Jefferies on *Ambuja:* Maintains Buy on company, raise target price at Rs 470/Sh (Positive 394.0 Support 390.0 TGT 404.0)

Jefferies on *PEL:* Maintains Buy on company, target price at Rs 3050/Sh (Positive 2628.0 Support 2610.0 TGT 2670.0)

JP Morgan on *Tata Steel:* Maintains Buy on company, target price at Rs 1850/Sh (Positive 1212.0 Support 1190.0 TGT 1241.0)

JP Morgan on *SAIL:* Maintains Buy on company, target price at Rs 165/Sh (Positive 106.5 Support 104.0 TGT 110.0)

Stock Update: *LARSEN* At 52 week high as price pierced 2028.0 levels, Support 2010.0 TGT 2060.0