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Nomura has downgraded Shree Cement from ‘Buy’ to ‘Neutral,’ setting a target price of Rs 28,000. Additionally, the firm has downgraded ACC and Nuvoco from ‘Neutral’ to ‘Reduce,’ with target prices of Rs 1,920 and Rs 330, respectively.

India Inc. is bracing for mixed Q3 results, with earnings growth expected to slow. Analysts predict a 2% Nifty EPS growth for FY25, with many companies facing challenges like sluggish demand, high input costs, and weak margins. Sectors like cement, oil and gas, and consumer goods are hit hardest, while financials, technology, and real estate are expected to show modest growth.

Borosil Renewables announced the 50% expansion in its solar glass manufacturing capacity.

The rupee fell to a record low of 85.92 against the US dollar due to a strong American currency and rising crude oil prices. Forex traders cited foreign fund outflows and subdued domestic equity markets. The 10-year US bond yields remained high, impacting the rupee. FIIs offloaded Rs 3,362.18 crore in the capital markets.

Novelis Inc, a part of Hindalco, plans to raise USD 750 million through bonds. The proceeds will be used to repay USD 738 million of debt and to fund their balance sheet. Novelis reported a decline in net income for the September quarter, but net sales rose due to higher aluminum prices and increased shipments.

ASCF–III will focus on secured credit transactions for operating and holding companies, with a few investments in hybrid structures tailored to deal requirements. Aiming for a gross portfolio IRR of 16%-18%, the sector-agnostic fund will invest in industries such as pharmaceuticals, healthcare, manufacturing, consumer, chemicals, technology, and B2B businesses.

The stock traded at a P/E multiple of 5.45, while the price-to-book value ratio stood at 1.27.

Bajaj Auto share price has risen by 25.15% over the past year, but has dropped by around 7% in the last 6 months. In the past 3 months, the stock has fallen by 24.9%, and in the last month, it has declined by 2.1%.

On January 9, five stocks experienced long unwinding: L&T Finance, SBI Card, PB Fintech, Vedanta, and Naukri, with notable declines in stock prices and open interest.