Market Bizzz

The rate hikes partly helped Jio grow average revenue per user(ARPU) 4.2% on-quarter to ₹203.3. But the full beneficial impact of the price hikes will be staggered, and likely to come through Q4FY25 and Q1FY26, since Jio has a higher share of subscribers on longer-validity plans compared to Bharti Airtel or Vodafone Idea, said analysts.

Remarks from senior BOJ officials along with Japanese data that points to persistent price pressure and strong wage growth have helped boost market confidence that a rate shift is in the offing with traders pricing in an 80% chance of a hike next week.

Abheek Barua, economist, highlights the need for adjustments in income tax rates, particularly for the lower middle class, to boost mass consumption. He suggests there may be tweaks or reductions in the upcoming budget to address this issue. Barua also advocates for increased allocations to welfare schemes like NREGA to support those outside the tax pool.

Barflex Polyfilms IPO was subscribed nearly 141 times at close due to bidding largely driven by non-institutional investors. The company, which offered a mere 47 lakh shares, received bids for nearly 66 crore shares.

The yen was the biggest major mover on the dollar overnight, rising about 1% and extending gains in Asia, as inflation relief in the U.S. raised chances of Federal Reserve rate cuts and coincided with murmurs of a Bank of Japan hike next week.

Naveen Mathur from Anand Rathi states that the rupee, despite its decline against the dollar, has performed better than other emerging market currencies. The rupee may stabilize at 85 levels medium-term but could drop to 87 in the short-term. Gold remains a safe haven with potential growth opportunities, and investment in gold is recommended.

Rikhav Securities will launch their IPO today, aiming to raise Rs 89 crore through a mix of fresh equity and an OFS of 20 lakh shares. The IPO price band is set between Rs 82-86. The company plans to use the funds for working capital, IT software, and general purposes.

Kabra Jewels IPO opened for subscription on January 15, aiming to raise Rs 40 crore through a fresh equity sale of 31.25 lakh shares priced at Rs 121-128 each. The company plans to use the proceeds for debt repayment, working capital, and corporate purposes. The issue is managed by Marwadi Chandarana Intermediaries and will close on January 17.

Angel One Share Price: Co reported an 8% YoY rise in Q3FY25 net profit to Rs 281.47 crore, with revenues growing 19.2%. The company declared a Rs 11 interim dividend and posted a 33.5% sequential decline in profit. Client base grew 7.4% QoQ, and gross client acquisition declined by 30.3%. The stock target price suggests a 39% upside.

Long-term contracts for Indian refiners will remain unaffected by the new sanctions on Russian oil. However, spot purchases of Russian oil, which account for 40-45% of India’s imports, will be impacted. Indian refiners will need to source oil from the Middle East without discounts, resulting in lower refining margins. Oil marketing companies will face challenges with increased crude costs.