January 08, 2026

TOP NEWS

 

Kalpataru Projects: Company has received necessary approvals for divestment of Vidhyanchal Expressway and  is nearing completion of selling its complete stake in Vindhyachal Expressway Private Limited to Actis Atlantic Holdings .  The strategic divestment is to optimize its portfolio and focus on core business operations. Estimated Enterprise Value: Rs 775 Cr.

 

Dee Development: The closing order book stood at Rs 1,302.73 crores, with cumulative FY 2025-26 inflow reaching Rs 867.04 crores. Strong order inflows. Appointed Brham Prakash Yadav as its Chief Financial Officer, effective January 2026. 

 

Housing and Urban Development Corporation: The company has signed a non-binding Memorandum of Understanding (MoU) with the Government of Chhattisgarh. Under the MoU, the company may provide financial assistance of up to Rs 1 lakh crore over the next five years for the execution of various housing and infrastructure projects in the state. Positive read through for HUDCO.

 

Midwest: The company has received a quarry lease work order from the Department of Mines & Geology, Government of Andhra Pradesh. As per the work order, the company has been permitted to undertake quarrying operations for the extraction of coloured Quartzite blocks suitable for cutting and polishing over an area of 21.012 hectares (51.92 acres) located in Prakasam district, Andhra Pradesh, for a period of 30 years, commencing from January 6, 2026.

 

Meesho: Megha Agarwal has resigned from the position of General Manager – Business and as a Senior Management Personnel of Meesho.

 

Infosys: Infosys and Cognition, today announced a strategic collaboration to scale Devin across global enterprises. The collaboration will deploy Devin across Infosys’ internal engineering ecosystem and client engagements worldwide. Infosys Topaz Fabric is a purpose-built agentic services suite a multi-layer AI fabric that unifies infrastructure, models, data, applications, and workflows into a composable, agent-ready ecosystem. Combining the secure, modular architecture of Infosys Topaz Fabric with Cognition’s advanced agentic and autonomous engineering capabilities, the collaboration aims to help enterprises achieve accelerated time-to-market, enhanced developer productivity, and reduced modernization timelines.

MACRO WRAP

  • The DJIA and the S&P500 fell 0.9% and 0.3% respectively, while the Nasdaq Composite Index rose 0.2%. The Eurostoxx 50 edged down 0.1%. The Dollar Index edged up 0.1% to 98.68. EUR-USD edged down 10 pips to below 1.1680.
  • The US 2Y yield gained nearly 1bp to 3.47% while 10Y yield fell almost 3bp to 4.15%. The German 10Y yield fell 3bp to 2.81%. The UK 10Y yield dropped 6bp to 4.42%.
  • Brent crude oil prices fell 1.2% to USD59.96. Gold fell 0.9% to USD4,456 yesterday after gaining 4% to start the year.
  • Commodity Index rebalancing: Five-day annual rebalancing of commodities Index managed by Bloomberg and S&P Global will begin on January 8, wherein passive funds will likely sell outperforming assets like silver and gold and buy underperforming commodities to match the new weights assigned to the commodities by both the Bloomberg Commodity Index and the S&P GSCI. Bloomberg estimates that around $120 billion is pegged to each Index, based on cash flowing from pension funds, and broader investment portfolios. Gold/silver expected to selling pressure.
  • US private sector jobs grew by 41K in December 2025, recovering from November’s 29K loss. Education/health and leisure/hospitality led gains. Professional services, information, and manufacturing saw cuts. Pay growth remained at 4.4% for job-stayers and rose to 6.6% for job-changers.
  • US job openings fell by 303,000 to 7.146 million in November 2025, below expectations and the lowest since September 2024. Declines were seen in several sectors, with construction rising. All regions experienced drops, while hires and separations remained unchanged at 5.1 million. Positive for Gold.
  • The US ISM Services PMI rose to 54.4 in December 2025, up from 52.6 in November, surpassing expectations and marking the strongest growth since October 2024. All subindexes expanded, including business activity and new orders, while price pressures eased and supplier deliveries slowed. Positive for USD.
  • China's central bank increased its gold reserves for the 14th consecutive month as the People's Bank of China added 30,000 ounces in December, bringing its total holdings to 74.15 million ounces (approximately 2,320 tons). Positive for gold.
  • Data watch: the weekly initial jobless claims (est. 212k for week ending 3 Jan vs. 199k in the week prior), Oct’s trade balance (est. -USD58.7bn vs. -USD52.8bn), and Oct’s final wholesale inventories (est. 0.2% vs. 0.5% prior).

INVESTMENT CALL

 

Sector Preview – Banking Q3FY26 preview: Growth momentum, stable operating metrics to aid return ratios.

  • We expect NII growth to be modest as NIMs look to stabilize in Q3FY26. Yield pressure due to rate cuts would be largely balanced by CRR cut and liquidity.
  • Loan growth trajectory should improve on YoY basis as levers such as GST rationalisation, lower rates etc. to come into play. Deposits growth should be lower than credit growth in Q3FY26.
  • Asset quality to improve on sequential basis in most credit segments. On overall basis we expect banks to put stable return ratios on the back of steady operating metrics.
  • Preferred Picks - Axis Bank, Kotak Bank, HDFC Bank, SBI, CUB.

 

OTHER NEWS

 

Angel One: The Board of Directors will meet on January 15 to consider a proposal for the alteration of the company’s share capital through the sub-division/split of existing equity shares with a face value of Rs 10 each, fully paid up. The Board will also consider the declaration of the first interim dividend for the financial year 2025–26 on the same date.

 

Tata steel: India production grows 11.4% to 6.34 MT Vs 5.69 MT. India delivery volumes increase 14.2% to 6.04 MT Vs 5.29 MT. India achieves best-ever quarterly crude steel production & deliveries.

 

Gland Pharma: Received approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) filed for Olopatadine Hydrochloride Ophthalmic Solution USP, 0.7% (OTC). The drug is indicated for the treatment of ocular itching associated with allergic conjunctivitis.