Stock Market Today: All You Need To Know Going Into Trade On Dec. 1

Share indices in Asia-Pacific region were trading on a mixed note ahead of the release of a slew of economic data from Japan, South Korea, and China. Overnight recovery in the U.S. stocks aided the Asian equites.

Shares in Japan, South Korea, and Australia declined, while in China it rose. Japan, South Korea are to release its PMI number for November. From China, investors await Caixin PMI after official data was out on Thursday.

The GIFT Nifty indicated a higher opening for the benchmark. It was up 0.35% or 70.05 points at 20,329.5 as of 6:40 a.m.

India's benchmark indices recovered to end higher after a volatile session on Thursday.

The S&P BSE Sensex closed 87 points, or 0.13%, higher at 66,988.44, while the NSE Nifty 50 ended 37 points, or 0.18%, up at 20,133.15.

Among sectoral indices, five rose, three declined and one ended flat. The Nifty Pharma and Realty gained the most, while the Nifty Bank and IT closed lower.

Overseas investors stayed net buyers of Indian equities for the fifth consecutive session on Thursday. Foreign portfolio investors mopped up stocks worth Rs 8,147.8 crore, and domestic institutional investors turned net sellers to offload stocks worth Rs 780.3 crore, the NSE data showed.

The Indian currency weakened 7 paise to close at its all-time weakest level of 83.40 against the U.S. dollar on Thursday.

• Kesoram Industries: Kesoram Industries announced that its cement business will be merged with UltraTech Cement Ltd. for about Rs 5,379 crore to unlock its value and deleverage its balance sheet. Under the demerger agreement, UltraTech will issue 1 equity share for every 52 equity shares of Kesoram. About 59.74 lakh new equity shares of UltraTech will be issued to the shareholders of Kesoram.

• Hindustan Aeronautics: The company received a nod from the Defence Acquisition Council for the procurement of light combat helicopters for the Indian Air Force and Indian Army and light combat aircraft Mk 1A for the Indian Air Force.

• Defence stocks: The government accorded initial approval to defence acquisition projects worth Rs 2.23 lakh crore, 98% of which will be sourced from domestic industries.

• Infosys: The IT major announced its collaboration with Shell on immersion cooling services to enable sustainability-first data centres.

• Wipro: The company announced that it is working with Amazon Web Services to redefine the future of lab processes in the life sciences industry.

• JSW Group: The Sajjan Jindal-led JSW Group will buy a 35% stake in MG Motor India, owned by Chinese automobile manufacturer SAIC Motor.

• LTIMindtree: The company partnered with Metasphere to deliver smart sewer solutions.

• Dixon: Padget Electronics subsidiary inaugurated a new state-of-the-art smartphone manufacturing plant in the Noida district, Uttar Pradesh.

• H.G. Infra Engineering: H.G. Varanasi-Kolkata PKG-10 highway, a subsidiary, received an order from the National Highways Authority of India for the construction of the Greenfield Varanasi-Ranchi-Kolkata highway for Rs 1,303.11 crore.

• Mahindra and Mahindra: Jade Hybren Pvt. was incorporated as a wholly-owned Mahindra Susten Pvt., which is a subsidiary of Mahindra Holdings, which in turn is a wholly-owned subsidiary of the company.

• ITD Cementation: The company bagged a Rs 1,001 crore order for civil and hydro-mechanical work in Andhra Pradesh.

• Balrampur Chini: The company received a Rs 33.5 crore income tax notice for AY 2020–21.

• Larsen and Toubro: The company incorporated a new wholly-owned subsidiary, L&T Semiconductor Technologies.

• Biocon: Biocon Biologics, a subsidiary of the company, has successfully completed the integration of Viatris Biosimilar Business in 31 countries in Europe.

• CSB Bank: RBI approved an amendment to dilute the schedule of shareholdings of FIH Mauritius Investments to 26% of the paid-up equity capital of the bank within 15 years from the date of completion of investments instead of 15% as advised by RBI at the time of approval of the investment proposal of FIHM in the year 2018.

• KIOCL: Manoj Kumar Jhawar has resigned from the post of Director (Finance) and Chief Financial Officer with effect from Jan. 17, 2024.

• PFC: PFC Consulting, a subsidiary, has been nominated as the 'Bid Process Coordinator' for the selection of developers through tariff-based competitive bidding for the Independent Transmission Projects by the Ministry of Power.

• Orient Green Power: The company incorporated a wholly owned subsidiary, viz., Delta Renewable Energy Pvt.

• Kalyan Capitals: The company's CFO and KMP, Arun Agarwal, resigned from the company on Nov. 30.

• Himadri Special Chemical: Himadri Clean Energy became the wholly owned subsidiary of the company w.e.f Nov. 30.

• Future Consumer: NCLT, via its order, has ceased Future Food and Products Ltd. and Future Food Processing Ltd. to be subsidiaries of the company.

• Primo Chemicals: The company commenced the commercial production of Caustic Soda Flakes in Punjab with an installed capacity of 66,000 tonnes Per year on Nov. 30.

• Sonata Software: The company has fixed Dec. 12 as the record date to ascertain the eligibility of shareholders for the issuance of bonus equity shares of the company in the proportion of 1:1.

• Unitech: The Ministry of Corporate Affairs extended the tenure of Yudhvir Singh Malik as Chairman and MD for a further period of two years.

Flair Writing Industries: The offer was subscribed 46.68 times on its final day. The bids were led by institutional investors (115.60 times), non-institutional investors (33.37 times) and (retail investors: 13.01 times). The IPO price is Rs 304 per share.

• Timken: Profusion Investment Advisors LLP sold 19.40 lakh shares (2.57%) at 2890.41 apiece.

• Ultramarine and Pigments: Promoter group Deepa Ajay sold 12,000 shares between Nov. 28 and 29.

• Advanced Enzyme Technologies: Promoter group Advanced Vital Enzymes sold 1.2 lakh shares between Nov. 28 and 29.

• Thirumalai Chemicals: Promoter group Narayan Santhanam sold 24000 shares between Nov. 28 and 29. Promoter Group Deepa Ajay sold 32,290 shares between Nov. 28 and 29.

• Usha Martin: Promoter group Usha Martin Ventures sold 50,592 shares between Nov. 28 and 29.

• Cigniti Technologies: Promoter Group C. Rajeshwari sold 52,499 shares between Nov. 28 and 29. Promoter C. V. Subramanyam sold 59,727 shares between Nov. 28 and 29.

• Garware Technical Fibres: To meet analysts and investors on Dec. 5 and 6.

• BEML: To meet analysts and investors on Dec. 5.

• Radico Khaitan: To meet analysts and investors on Dec. 5.

• Polycab: To meet analysts and investors on Dec. 5.

• Barbeque-Nation Hospitality: To meet analysts and investors on Dec. 4-5.

• Automotive Axles: To meet analysts and investors on Dec. 5.

• Crisil: To meet analysts and investors on Dec. 1.

• Tega Industries: To meet analysts and investors on Dec. 5.

• Kotak Mahindra Bank: To meet analysts and investors on Dec. 5.

• Ashiana Housing: To meet analysts and investors on Dec. 1.

• V-Mart Retail: To meet analysts and investors on Dec. 4.

• Shriram Finance: To meet analysts and investors on Dec. 5.

• Shoppers Stop: To meet analysts and investors on Dec. 13–20.

• Fine Organics: To meet analysts and investors on Dec. 5.

• Ideaforge Technology: To meet analysts and investors on Dec. 6.

• TCS: To meet analysts and investors on Dec. 6–14.

• Vedant Fashions: To meet analysts and investors on Dec. 8.

• Tata Motors: To meet analysts and investors on Dec. 6.

• Price band revised from 20% to 10%: Navkar Corp.

• Nifty December futures rose 0.08% to 20,269.10 at a premium of 135.95 points.

• Nifty December futures open interest rose by 45.29% to 65,318 shares.

• Nifty Bank December futures fell by 0.37% to 44,741 at a premium of 259.75 points.

• Nifty Bank December futures open interest rose by 45.64% to 54,694 shares.

• Nifty Options Nov 30 Expiry: Maximum call open interest at 21,000 and maximum put open interest at 20,000.

• Bank Nifty Options Nov 30 Expiry: Maximum Call Open Interest at 44,500 and Maximum Put Open Interest at 44,500.

• Securities in the ban period: Nil.

The Indian currency depreciated 7 paise to close at an all-time low of 83.40 against the U.S. dollar on Thursday.

• Sun Pharma - Global Specialty Pipeline To Drive Growth: Nirmal Bang

• Indian Oil, BPCL, HPCL Richly Valued: Prabhudas Lilladher

• SBI - Business Outlook Steady; Internal Accruals To Support Growth Momentum: Motilal Oswal

• Info Edge - Worst Seems To Be Behind Us In IT hiring; Time For A Resurgence? ICICI Securities

• Mahindra & Mahindra - Utility Vehicle Demand Remains Strong; EV Plans On Track: Nirmal Bang

• Newgen Software Technologies - Gen AI, India Key Positives: IDBI Capital