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China on Thursday reported consumer price falls in December and a larger-than-expected drop in factory gate prices - underscoring the weakness in demand that investors are betting will recover over the coming months.

Since December 22, the stock is showing a continuous downtrend, the price has trimmed more than 10% in this period. So, after the result, some recovery is expected in this IT giant. Technically there is a major support level of Rs 1350, and any unexpected outcome from the results can retest the price to its support level.

Noida-based IT major will declare its quarterly results today. Alongside, the company will also be announcing its fourth interim dividend. The company since the year 2000 has in total declared 83 dividends. And in the current FY, it has so far declared Rs 38 per share dividend. The consensus recommendation from 42 analysts for the stock is buy.

“Coming to the IT sector, there will be differentiation in a lot of IT companies in terms of which companies are really adding value, seeing vendor consolidation and managing how they are able to get the freshers because that takes two to three quarters and addresses other supply side pressures.”

Hindalco Industries, incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 110324.94 Crore) operating in Metals - Non Ferrous sector.

The Nifty Auto index closed 0.52 per cent down at 12753.05.

Indian gold refiners have nearly stopped imports of gold dore, a semi-pure alloy, as grey market operators offer hefty discounts to market rates and cut into their slender margins, making business a losing proposition, industry officials say.

The market is bracing for additional curbs aimed at Russian fuel products sales set to come into force in February as the European Union (EU) keeps working on more sanctions against Moscow over the invasion of Ukraine.

HUL has completed the acquisition of 51 per cent shareholding of Zywie for a total consideration of Rs 264.28 crore for the first tranche, in accordance with the terms and conditions of the definitive agreements dated 8th December 2022," according to a regulatory filing.

The central bank also said that no request for cancellation of bids will be entertained after the close of the auction window.