Infosys Ltd., Canara Bank, and Dixon Technologies Ltd. will be the major stocks in focus on Tuesday.
The chief financial officer and key managerial personnel of Infosys, Nilanjan Roy will resign from the position effective March 31, 2024. Canara Bank has raised Rs 1,403 crore through the issue of additional tier-1 bonds of face value Rs 1 crore each at a coupon rate of 8.40%.
Meanwhile, Dixon Technologies' unit Padget Electronics Pvt. has bagged a contract from Lenovo for manufacturing laptops and notebooks under the Production-Linked Incentive scheme 2.0.
Most share indices in the Asia-Pacific region rose on Tuesday, tracking overnight gains on Wall Street as investors shift their focus on key U.S. inflation data today, and policy meetings of major central bank this week.
Share indices rose in Japan, South Korea, and Australia. However, equity indices in Hon Kong declined on caution before an annual year-conference meet of Chinese policy makers which will set down new agenda for upcoming year.
The U.S. consumer price index is scheduled for release later today, and is expected to provide final cue before the Federal Reserve's policy outcome on Wednesday. According to a Bloomberg Survey, the annul CPI print is expected to come at 3.1% for November from 3.2% in the preceding month.
Moreover, market participants will also keep an eye on the European Central Bank, and the Bank of England's policy meeting on Thursday.
The S&P 500 index and Nasdaq Composite rose by 0.39% and 0.20%, respectively on Monday The Dow Jones Industrial Average gained 0.43%.
Brent crude was trading 0.25% higher at $76.03 a barrel. Gold was up by 0.15% at $1,984.83 an ounce.
The GIFT Nifty was up 4.0 or 0.02% at 21,145.00 as of 6:43 a.m.
India's benchmark indices closed higher for the second consecutive session, after they broke their seven-day gaining streak on Thursday.
Intraday, the Nifty 50 reclaimed the 21,000 level and the Sensex crossed the 70,000 mark for the first time. Both indices closed at record high levels. The S&P BSE Sensex closed 102.93 points, or 0.15%, higher at 69,928.53, while the NSE Nifty 50 ended 27.70 points, or 0.13%, up at 20,997.10.
Overseas investors remained net buyers of Indian equities for the second consecutive day on Monday. Foreign portfolio investors mopped up stocks worth Rs 1,261.1 crore, while domestic institutional investors remained net sellers and offloaded equities worth Rs 1,032.9 crore, the NSE data showed.
The Indian rupee closed flat at Rs 83.39 against the U.S. dollar on Monday.
Stocks To Watch
Infosys: The IT major's chief financial officer and key managerial personnel Nilanjan Roy to resign from the position effective March 31, 2024. The company appointed Jayesh Sanghrajka as the chief financial officer and key managerial personnel of the company effective April 1, 2024.
Canara Bank: The bank has raised Rs 1,403 crore through the issue of additional tier 1 Bonds of face value Rs 1 crore each at a coupon of 8.40%.
Dixon Technologies: The company’s arm Padget Electronics received a manufacturing contract from Lenovo for manufacturing laptops and notebooks under the PLI 2.0 scheme.
Rail Vikas Nigam: The company with its JV URC (51:49) wins a bid of Rs 543 crore from the Madhya Pradesh metro project.
Sterling and Wilson Renewable Energy: The company launched its qualified institutional placement to raise Rs 1500 crore. The floor price for the QIP is set at Rs 365.02 per share, which is a discount of 13.75% to the stock's previous close of Rs 423.20 on the NSE.
Jammu & Kashmir Bank: The company launched its qualified institutional placement to raise Rs 750 crore. The floor price for the QIP is set at Rs 112.66 per share, which is a discount of 10.02% to the stock's previous close of Rs 125.20 on the NSE.
Wipro: The IT major has supported Marelli electronic systems in the development of its cabin digital twin, which enables original equipment manufacturers to introduce connected vehicle services to the market quickly.
DLF: The company's CFO Vivek Anand tendered his resignation due to professional reasons. Managing Director Ashok Kumar Tyagi will now have oversight of the group finance.
BLS International Services: The company has been awarded the contract for outsourcing consular, passport, and visa services by the High Commission of India in Canada. This contract encompasses operations at HCI in Ottawa and Consulate Generals of India (CGIs) in Toronto and Vancouver.
PNC Infratech: The company received Rs 116 crore from the National Highways Authority of India towards the 'Eligible Disputes' raised by PNC Raebareli Highways Pvt., a subsidiary of the company for 'one-time settlement' under the 'Vivad Se Vishwas II (Contractual Disputes)' scheme of Government of India.
Relaxo Footwear: The company has been declared a successful bidder for the purchase of a land parcel of approximately 30 acres situated in Pathredi Industrial Area, Bhiwadi – II, Rajasthan, India. The cost of acquisition of the aforesaid land parcel is Rs 135 Crores.
Jtekt India: The company has received a new order worth Rs 182.7 crore from JTEKT Brasil for the supply of loose child (goods) parts.
Puravankara: The company’s unit launched a project named Deansgate in Bengaluru.
REC: The company enters into a 200-million-euro loan agreement with German bank KfW.
Capri Global Capital: The company received a corporate agency license from the Insurance Regulatory and Development Authority of India for setting up of insurance business.
Bulk Deals
Aditya Vision: Rinu Sinha sold 81,197 shares (0.67%) at Rs 3,442 apiece.
Swan Energy: 2I Capital PCC sold 14.43 lakh shares (0.54%) at Rs 465.85 apiece and 12.30 lakh shares (0.46%) at Rs 461.19 apiece. SBI life Insurance bought 10 lakh shares (0.37%) at Rs 461 apiece.
Insider Trades
Max Estates: Promoter Siva Enterprises bought 1.7 lakh shares on Dec. 6.
Ircon International: Promoter Government of India sold 7.5 crore shares between Dec. 7 and 8.
Goldiam International: Promoter Rashesh Manhar Bhansali sold 15 lakh shares on Dec. 8.
Pledge Share Details
India Cements: Promoter group EWS Finance & Investments created a pledge of 65 lakh shares on Dec. 8.
Paisalo Digital: Promoter group Equilibrated Venture CFlow created a pledge of 18.75 lakh shares on Dec. 11.
Who’s Meeting Whom
Kirloskar Industries: To meet investors and analysts on Dec. 14.
Navin Fluorine International: To meet investors and analysts on Dec. 18 and 19.
Khadim India: To meet investors and analysts on Dec. 14.
Pidilite Industries: To meet investors and analysts on Dec. 18 and 22.
Natco Pharma: To meet investors and analysts on Dec. 14.
Tilaknagar Industries: To meet investors and analysts on Dec. 14.
LTIMindtree: To meet investors and analysts on Dec. 14.
Cello World: To meet investors and analysts on Dec. 18.
MOIL: To meet investors and analysts on Dec. 14.
eMudhra: To meet investors and analysts on Dec. 18.
Inox Wind: To meet investors and analysts on Dec. 14 to 22.
Tega Industries: To meet investors and analysts on Dec. 14.
RPG Life Sciences: To meet investors and analysts on Dec. 15.
EIH: To meet investors and analysts on Dec. 14.
Can Fin Homes: To meet investors and analysts on Dec. 14.
Trading Tweaks
Price band revised from 20% to 10%: Sandhur Manganese and Iron Ores.
Ex/record date Interim dividend: Bharat Petroleum Corp.
Ex/record date Bonus Issue: Safari Industries, Sonata Software.
Ex/record date Buyback: SIS.
Move into a short-term ASM framework: BCL Industries, Inox Wind.
Move out of short-term ASM framework: EMS, Sigachi Industries, Tilaknagar Industries, Veranda Learning Solutions.
F&O Cues
Nifty December futures up by 0.02% to 21,079.5 at a premium of points 82.4 points.
Nifty December futures open interest up by 2.7%.
Nifty Bank December futures down by 0.12% to 47442.35 at a premium of 108.1 points.
Nifty Bank December futures open interest down by 1.1%.
Nifty Options Dec 14 Expiry: Maximum call open interest at 21000 and maximum put open interest at 20,900.
Bank Nifty Options Dec 13 Expiry: Maximum Call Open Interest at 49000 and Maximum put open interest at 47,000.
Securities in ban period: Balrampur Chini Mills, Delta Corp, Hindustan Copper, Indiabulls Housing Finance, National Aluminium, Steel Authority of India.
Research Reports
Inox Wind - The Perfect Pitch: ICICI Securities Initiates Coverage With A 'Buy' Rating
Oil And Gas Sector Check - Volume Growth In Focus For ONGC, GAIL, Oil India: Motilal Oswal
Kansai Nerolac - Making Right Moves In Competitive Environment: Prabhudas Lilladher
Emami - Mixed Demand Trend But Margins To Expand Further; Maintaining A 'Buy': Anand Rathi
HDFC Bank - Execution On Track; Marching Toward Steady Growth, Profitability: Motilal Oswal
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