..... . VALI disclosures . .....: 09/01/26, Economic Times Report

Friday, January 9, 2026

09/01/26, Economic Times Report

Stocks to Watch Today: Several listed companies are in focus today following quarterly earnings announcements, corporate actions, order wins and regulatory updates.

Developments across sectors such as engineering, consumer services, defence, energy, financial services and aviation are likely to influence stock-specific movements during the session.

Elecon Engineering Company Profit Declines

Elecon Engineering Company reported a 33 per cent year-on-year decline in its quarterly profit, which fell to Rs 72 crore compared with Rs 107.5 crore in the corresponding period earlier. Revenue for the quarter rose 4.3 per cent to Rs 551.7 crore from Rs 528.9 crore.

Corporate Development

Devyani International subsidiary divests stake

Devyani International said its subsidiary, Sky Gate Hospitality, has sold its stake in Peanutbutter and Jelly to Heritage Foods. The company did not disclose the financial details of the transaction.

Saatvik Green Energy secures solar project order

Saatvik Green Energy announced that it has received an order worth Rs 21 crore for the development of a solar project. The order adds to the company's project pipeline in the renewable energy segment.

Bharat Forge MoU signed for AI-Driven Robotics

Bharat Forge has signed a memorandum of understanding with Germany-based Agile Robots SE.

Eternal GST demand orders received

Eternal, the parent entity of Zomato and Blinkit, has received two Goods and Services Tax demand orders amounting to over Rs 27.56 crore. The amount includes interest and penalty, according to the company's disclosure.

Bajaj Finserv Allianz stake acquisition completed

Bajaj Finserv announced the successful completion of the acquisition of a 23 per cent stake in its insurance subsidiaries, Bajaj General Insurance and Bajaj Life Insurance, from Allianz SE. The acquisition was carried out along with Bajaj Holdings and Investment and Jamnalal Sons. The stake purchases were completed for Rs 12,190 crore and Rs 9,200 crore, respectively.

Rail Vikas Nigam Railway project LoA received

Rail Vikas Nigam said it has received a Letter of Acceptance from East Coast Railway for setting up a wagon Periodic Overhaul workshop at Kantabanji. The project, with a capacity of 200 wagons, has a cost of Rs 201.2 crore.

Bharat Electronics Limited's fresh orders add to order book

Bharat Electronics Limited reported that it has received additional orders worth Rs 596 crore since its last disclosure on January 1.

Vedanta clarification on contract extension reports

Vedanta issued a clarification regarding reports about the extension of its contract. The company stated that the Ministry of Petroleum and Natural Gas had rejected its application in September 2025.

Adani Enterprises' Initial pact with Embraer

Adani Enterprises is in focus after reports said the Adani Group has signed an initial pact with Brazilian aerospace major Embraer. The agreement is aimed at setting up a final assembly line for Embraer's regional jets in India, according to sources cited by Press Trust of India.

IPO in Focus

Bharat Coking Coal IPO opens today

The initial public offering of Bharat Coking Coal Limited, a subsidiary of Coal India, opens for subscription today, January 9. The IPO is priced in a band of Rs 21 to Rs 23 per share. Ahead of the issue opening, the grey market premium stands at Rs 9.25, indicating a potential listing price of around Rs 32.2. This implies a listing premium of about 40.22 per cent.

source: Dailyhunt

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Trade Cycles

The four important features of Trade Cycle are (i) Recovery, (ii) Boom, (iii) Recession, and (iv) Depression!

The trades cycle or business cycle are cyclical fluctuations of an economy. A full trade cycle has got four phases: (i) Recovery, (ii) Boom, (iii) Recession, and (iv) depression. The upward phase of a trade cycle or prosperity is divided into two stages—recovery and boom, and the downward phase of a trade cycle is also divided into two stages—recession and depression.

Phases of Trade Cycle:

The phases of trade cycle are explained with a diagram:

(1) Recovery:

In the early period of recovery, entrepreneurs increase the level of investment which in turn increases employment and income. Employment increases purchasing power and this leads to an increase in demand for consumer goods.

As a result, demand for goods will press upon their supply and it shall, thereby, lead to a rise in prices. The demand for consumer’s goods shall encourage the demand for producer’s goods.

The rise in prices shall depend upon the gestation period of investment. The longer the period of investment, the higher shall be the price rise. The rise of prices shall bring about a change in the distribution of income. Rent, wages, interest do not rise in the same proportion as prices.

Consequently, the margin of profit improves. The wholesale prices rise more than retail prices. The prices of raw materials rise more than the prices of semi-finished goods and the prices of semi-finished goods use more than the prices of finished goods.

(2) Boom:

The rate of investment increases still further. Owing to the spread of a wave of optimism in business, the level of production increases and the boom gathers momentum. More investment is possible only through credit creation. During a period of boom, the economy surpasses the level of full employment and enters a stage of over full employment.

(3) Recession:

The orders for raw materials are reduced on the onset of a recession. The rate of investment in producers’ goods industries and housing construction declines. Liquidity preference rises in society and owing to a contraction of money supply, the prices falls. A wave of pessimism spreads in business and those markets which were sometime before sellers markets become buyer’s markets now.

(4) Depression:

The main feature of a depression is a general fall in economic activity. Production, employment and income decline. The prices fall and the main factor responsible for it is, a fall in the purchasing power.

The distribution of national income changes. As the costs are rigid in nature, the margin of profit declines. Machines are not used to their full capacity in factories, because effective demand is much less. The prices of finished goods fall less than the prices of raw materials.

✳Reality Tips to Traders

1)Trading in the stock market is a marathon. 2)Protecting your capital is key. (Learn to protect first) 3)Making 0 on the day is better than losing 50k 4)Losses happen; they are part of this business. 5)It’s not you vs. the market. It’s you VS you. 6)You are your biggest enemy; learn to be mentally disciplined. 7)Don’t follow the majority; follow the correct path. 8)Traders without a stop loss end up not being traders for long. 9)There is always another trade. 10)The big money is made waiting for the right set-ups. 11)Waiting for the right trade is the most powerful strategy. 12)It is better to cut a loss than to wait to be proven right. 13)Position sizing can make or break you. 14)Worry about the downside before you even think about the upside. 15)Don’t listen to headlines

..BANKING TERMINOLOGY

There are various types of Banks: PSU Banks, Private Banks, Co-operative/Regional Banks, Small Finance Banks and Foreign Banks. When you deposit money in a bank, let's say the bank gives you an interest rate of 4%. But when the bank lends out this money, they lend it out at say, 12%. The difference of 8% in the above scenario is effectively the profit of the bank! The loans that do not pay interest for 90 days are known as Non-performing Assets. Banks have to provide for such bad loans. Structure of a Bank Asset for a Bank: The asset portion of a bank's capital includes cash, government securities, and interest-earning loans (e.g., mortgages, letters of credit, and inter-bank loans). Liabilities for a Bank: The bank's main liabilities are its capital (including cash reserves and, often, subordinated debt) and deposits. The latter may be from domestic or foreign sources (corporations and firms, private individuals, other banks, and even governments). Banks are required to maintain Liquidity with the Reserve Bank of India: SLR (Statutory Liquidity Ratio): It is the money a bank needs to preserve in the form of cash, gold or government Bonds before providing credit customers. This limitation is added by RBI on banks to make funds available to customers on-demand at your earliest convenience. Banks are required to maintain SLR at 18%. CRR (Cash Reserve Ratio): Banks are required to hold a certain proportion of their deposits in the form of cash. Banks don’t hold these as cash with themselves, but deposit such amounts with RBI / currency chests. CRR rate is at 4.5% currently. Repo Rate: The rate at which the RBI lends short-term money to the banks. The RBI through its Monetary Policy committee changes the repo rate to balance growth and Inflation. Reverse Repo rate: The rate at which banks park their short-term excess liquidity with the RBI. Now let us understand various terminologies for Banks Net Interest Income (NII): This is the spread the bank makes on its lending. It is calculated as Interest Income – Interest Expended Net Interest Margin (NIM): This is the spread the bank makes on its lending. It is the earning which is left after deducting the cost paid to depositors from its yields on Loans. This is denoted in % terms. The formula is Yield on Loans – Cost of funds Capital Adequacy Ratio (CAR): The capital adequacy ratio (CAR) is a measure of a bank's available capital expressed as a percentage of a bank's risk-weighted credit exposures. Essentially, it is the Capital that is available to lend. Tier I Capital – In simple words this capital is freely available with the bank to lend out. Tier II Capital- This is the capital tied up somewhere and is less freely available to lend. In case of an adverse event, the bank can use this capital to lend. Under Basel III norms, a bank’s tier 1+tier 2 capital must be a minimum of 8% of its risk-weighted holdings. The minimum capital adequacy ratio, also including the capital conservation buffer, is 10.5%. Current Account Saving Account (CASA)- There is no interest paid on the Current Account and a small interest rate is paid on a savings account. The combination of both is called CASA which shows the liabilities of the bank on which it pays relatively less interest. Deposits: Bank deposits are a savings product that customers can use to hold an amount of money at a bank for a specified length of time. In return, the financial institution will pay the customer the relevant amount of interest, based on how much they choose to deposit and for how long. Now let us come to NPA. Gross NPA (GNPA): It is the total loans on which no payment has been paid for 90 days or more. GNPA % is usually shown in each Bank’s quarterly results. The percentage is basically the GNPA amount as a % of the total advances. Slippages: Slippages denote the fresh amount of loans that have turned bad in a year. The slippage ratio of a bank is calculated as Fresh accretion of NPAs during the year /Total standard assets at the beginning of the year multiplied by 100. Provisioning Coverage Ratio (PCR): This is the ratio of provisioning to GNPA and indicates the extent of funds a bank has kept aside to cover loan losses. For Instance, a company has GNPAs of Rs 100 and they have set aside 50 Rs, then the PCR is 50%. Net NPA (NNPA): The total figure left after deducting provisions made for bad loans from GNPA. (GNPA – Provisions+upgrades/writeoffs = NNPA) Special Mention Account (SMA) SMA-0 is a category in which stress with respect to the principal and interest has remained overdue for a period of 0 to 30 days. SMA-1 is a category in which stress with respect to the principal and interest has remained overdue for a period of 30-60 days. SMA-2 is a category in which stress with respect to the principal and interest has remained overdue for a period of 60-90 days

..... . VALI disclosures . .....

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Friday, January 9, 2026

09/01/26, Economic Times Report

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Today's

14/01/26, The Indian benchmark indices, SENSEX and NIFTY50, closed in negative territory on Wednesday, January 14, for the second consecutive session, amid selling in IT and realty stocks.

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