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Share market LIVE updates: Indian indices were lower on Friday as financials sustained the slide on risk aversion due to Hindenburg's report on the books of Adani group companies. At 11am, Sensex was down 754.54 pts at 59,450.52, and Nifty fell 210.50 pts to 17,681.45 Asian stocks rose on Friday and were poised for their fifth straight week of gains after data highlighted a resilient U.S. economy, boosting investor sentiment ahead of next week's slate of central bank policy meetings. MSCI's broadest index of Asia-Pacific shares outside Japan rose as much as 0.55% to hit an almost nine-month high of 562.10. Adani Group stocks fall amid attack from Hindenburg Research Adani Group's listed companies fell on Friday, adding to losses from Wednesday when New York-based Hindenburg Research flagged concerns in a report about debt levels and the use of tax havens at the conglomerate. Adani Transmission Ltd tumbled 19.2% and Adani Total Gas sank 19.1% in their biggest daily drop

On November 25 last year, as per regulatory filing on BSE, Adani Enterprises' board of directors approved the raising of funds through a further-public offering aggregating to ₹20,000 crore. Adani Enterprises share price is in focus on Tuesday amidst news reports of a likely ₹20,000-crore follow-on public offer (FPO). The stock opened lower for second consecutive day despite the FPO buzz in the market. At the time of writing, this Adani stock traded at ₹3,597.60 apiece down by ₹21.40 or 0.59% on BSE. Its market cap has dipped to around ₹4.10 lakh crore.  The stock has touched the day's low of ₹3,560.05 apiece --- resulting in an overall drop of over 1.6% from the previous session. This would also be the second consecutive day of fall of Adani Enterprises stock in the current week. The Adani group company has filed papers with stock exchanges for the proposed issue. The Adani Group's flagship company's FPO filing buzz has been taking rounds since last year. As per the l

TCS declared a third interim dividend of ₹8 and a special dividend of ₹67 per equity share Shares of Tata Consultancy Services (TCS) rose to ₹3,320 apiece on the BSE in Monday's opening deals as the stock started trading ex-dividend on Monday, a day ahead of its record date for the interim and special dividend announced during Q3 results. While announcing its Q3 FY23 earnings, TCS' board of directors also declared a third interim dividend of ₹8 and a special dividend of ₹67 per equity share of Re 1 each of the company, with a total dividend announced of ₹75 per share. "The third interim dividend and the special dividend shall be paid on Friday, February 3, 2023, to the equity shareholders of the Company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Tuesday, January 17, 2023, which is the Record Date fixed for the purpose," India's top IT company had said in the filing. T

Shares of Infosys rose marginally to ₹1,489 apiece on the BSE in Friday's opening deals after the IT company reported a better-than-expected over 13% rise in profit in the December quarter and raised its annual sales forecast on a strong deal pipeline even as it warned of "constraints" in certain verticals amid slowing global economy. CEO Salil Parekh noted that Q3 witnessed ‘exceptionally strong growth’ but acknowledged that signs around are showing a slowing global economy.  “Despite healthy deal wins, Infosys' upward revision in FY23 growth guidance of 16-16.5% implies a soft 4Q. Slowing net hiring also reflects rising caution. We raise our FY23 -25 estimates by up to 2% and expect Infosys to deliver 13% EPS CAGR over FY23-25. Infosys strong execution favorably positions it to gain market share, strong deal bookings and consistent execution provide comfort amidst an uncertain macro. Maintain Buy with target price of ₹1,770/share," said Jefferies in a note. Des

Asian stock markets mostly pushed higher on Thursday, ahead of U.S. consumer price data that investors hope will confirm inflation is in retreat, while the yen rose with a report Japan will next week review the side-effects of its ultra-easy policy. Following gains for Wall Street indexes overnight, MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5% and touched an almost seven-month high. Japan's Nikkei wobbled 0.2% lower. Bonds were bought around the world overnight and the U.S. dollar wavered, to touch a seven-month low at $1.0776 per euro. Due at 1330 GMT, economists expect the rise in core U.S. consumer prices slowed to an annual pace of 5.7% in December, from 6% a month earlier. Month-on-month headline inflation is seen at zero. The hope is that falling inflation reduces the need for interest rate hikes, and markets have priced better-than-even odds that the Federal Reserve slows its cracking pace and hikes by 25 basis points, rather than 50, at next mont

  Titan’s Q3FY23 business update point out that company has witnessed standalone revenue growth of 12%, while TEAL grew 58%; Caratlane grew at 50.0% YoY, driven by new buyer growth in the festive season strong marketing campaign and network expansion. Jewelry sales witnessed growth of 11.0% wherein Tanishq opened its first international store in the USA. Studded jewelry reported higher growth than overall divisions led by activations driven by higher contribution from premiumsiation. In Q3, Titan added 111 stores across divisions/ formats. “We believe the continued sales momentum across business divisions would have positive impact on the organized Jewelry," said brokerage Centrum which has remained positive on growth prospects for Titan shares and retains Buy with DCF-based target price ₹3,115 apiece. “In line with our thesis as argued in our report, we expect continued strong uptick in revenue, as the demand is expected to be robust in going forward. We believe the continued sal

India's top valued company Reliance Industries Ltd's (RIL) shares outperformed Nifty by about 4% in 2022. Global brokerage Jefferies' sees potential earnings upside from RIL's O2C if China's demand recovers by mid-CY2023 and export duties are eliminated.  “We forecast 18% EBITDA growth in FY24E with 21% in Retail on the back of floorspace growth and 24% in Jio on tariff hike and home broadband traction. Valuation has moderated imputing little value to green energy in our view. Borrowings likely will rise," the note stated. Jefferies has maintained its Buy rating on RIL shares with a target price ₹3,100, implying more than 22% upside from the current level. The brokerage expects Jio to deliver 19% YoY rev growth led by tariff hikes in the mobile segment and continued traction in non-mobile segment. 5G pricing/adoption and its impact on market dynamics is key monitorable. The timing and quantum of next tariff hikes and Jio's response to Bharti's rural exp

General Motors Co reclaimed the top spot in U.S. auto sales from rival Toyota Motor Corp in 2022 as it was able to better meet strong demand for cars and trucks despite industry-wide supply disruptions. Shares of GM rose 2.7% in afternoon trade on Wednesday to $34.75, after the company posted a 2.5% rise in 2022 sales to 2,274,088 vehicles, higher than Toyota's 2,108,458 units, in a closely watched race. Inventory shortages stemming from surging material costs and a persistent chip crunch had hobbled production at many automakers, keeping car and truck prices elevated. Asian brands were hit hardest. "Toyota is still among the tightest when it comes to inventory," Cox Automotive senior economist Charlie Chesbrough said. The Japanese automaker cut its full-year production target in November. Sales of its SUVs, a key segment, fell 8.6% in 2022, data on Wednesday showed. However, Toyota executives said there were some positive signs emerging, and the rate of inventory buildup