Stock Market Today: All You Need To Know Going Into Trade On Dec. 19
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Most Indices in Asia opened higher tracking gains in the Wall Street. Investors in Japan await the outcome of Japan central bank's two-day meeting.
Amid speculations that Bank of Japan will soon end the world’s last negative-rate regime, economists see April as the most likely timing for a change, according to a Bloomberg survey.
Australia's S&P/ASX 200 opened 0.6% higher, Nikkei traded 0.1% higher and Kospi was flat.
U.S. stocks kicked off the week on a positive note buoyed by a burst of deals, even as Federal Reserve officials sought to sow doubts that aggressive interest rate cuts would materialise early next year, Bloomberg reported.
Brent crude was trading 1.83% higher at $77.95 a barrel. Gold was flat $2,027.36 an ounce.
India's benchmark indices closed lower on Monday mainly due to losses in bank shares, fast-moving consumer goods and information technology.
The NSE Nifty 50 closed 38 points, or 0.18%, lower at 21,418.65, while the S&P BSE Sensex ended 169 points, or 0.24%, down at 71,315.09.
Overseas investors turned net sellers of Indian equities on Monday after being buyers for six consecutive sessions.
Foreign portfolio investors offloaded stocks worth Rs 33.5 crore while domestic institutional investors turned net buyers after one session of selling and bought stocks worth Rs 413.9 crore, the NSE data showed.
The Indian rupee weakened 6 paise to close at Rs 83.06 against the U.S. dollar on Monday.
Stocks To Watch
HDFC Bank: The private lender has raised Rs 7,425 crore through its maiden 10-year infrastructure bond issue on Monday, at a coupon rate of 7.71%, according to market participants with knowledge of the matter.
Vedanta: The company approved a second interim dividend of Rs 11 per share, amounting to Rs 4,089 crore. The record date for the payment of dividends is Dec. 27.
Apollo Tyres: An affiliate of Warburg Pincus is seeking about $100 million through a 3% stake sale, according to Bloomberg News. The floor price is set at Rs 440 apiece.
Sun Pharmaceutical Industries: The drugmaker will acquire a 16.7% stake in Massachusetts-based Lyndra Therapeutics for $30 million.
Nestle India: The company has set Jan. 5 as the record date for determining shareholders' entitlement for stock splits. It had approved a share split in the ratio of 1:10 on Oct. 19.
IDFC First Bank: The company received the RBI nod for the merger of IDFC and IDFC Financial Holding Co. with itself.
India Glycols: The company received an order from oil marketing and oil companies for the supply of 16.55 crore litres of ethanol with an estimated value aggregating to Rs 1,164 crore under the Ethanol Blended Petrol Programme.
Devyani International: The company has announced its foray into the Thailand market by acquiring 274 KFC outlets for Rs 1,066.10 crore, of which Devyani will shell out Rs 341.4 crore. It has also approved an investment of Rs 340 crore in its global arm, Devyani International DMCC, Dubai.
Marico: The company's top brand, Parachute Advanced, launched a new hair oil, "Sampoorna.”
Allcargo Gati: The board will meet on Dec. 21 to consider fundraising.
Kaynes Technology: The company opened its QIP for raising up to Rs 1,400 crore and set the floor price at Rs 2,449.96 per share, which indicates a discount of 5.8% to the stock's previous close of Rs 2,601.65 on NSE.
JTL Industries: The company approved raising up to Rs 810 crore via issuance of warrants and raising up to Rs 500 crore via QIP.
Vakrangee: The company has entered into a share purchase agreement for the acquisition of 8.8% of the equity share capital of Vortex Engineering from International Finance Corp.
KPI Green: The company opened its QIP for raising up to Rs 300 crore and set the floor price at Rs 1,245 per share, which indicates a discount of 9.64% to the stock's previous close of Rs 1,377.85 on NSE.
PNC Infratech: The company emerged as the lowest bidder for the Rs 1,174 crore road project in Madhya Pradesh.
Olectra Greentech: NCLT dismissed the company's petition against MLR Motors for recovery of Rs 10 crore.
Info Edge: The company has agreed to invest Rs 40 lakh in unit Jeevansathi Internet Services.
Prataap Snacks: The company clarified on a media report of promoters being in talks for the sale of a controlling stake. The company is not in negotiations, as reported in the article.
Biocon: The company's unit, Biocon Biologics, announced the successful completion of the transition of the acquired biosimilars business in 120 countries across advanced and emerging markets.
Ethos: Ritesh Kumar Agrawal has resigned from the position of chief financial officer and key managerial personnel for personal reasons.
NHPC: The company will mull the monetisation of future cash flow of one or more power stations at a board meeting on Dec. 22.
DCW: The company temporarily suspended operations at the Sahupuram plant due to flooding and water logging.
Sonata Software: The company announced its collaboration with Bayer to allow Bayer to develop new Agriculture-Powered Services for Microsoft Azure Data Manager for Agriculture that enable retrieval and integration of in-field activity data by working with leading manufacturers of farm machinery.
Dish TV: The company said it would require the government’s nod to appoint Sanjeev Banerjee to the board.
Shankara Building Products: The company approved the demerger of the trading business. The trading business comprises retail and distribution of building products. Shareholders will get 1 share of the demerged company for every 1 share held in the company.
IPL-Linked Companies: The player auction for the Indian Premier League 2024 will be held on Tuesday. Companies that own teams will be in focus. These include:
Lucknow Super Giants: CESC, PCBL, Saregama India, Spencers Retail, and Firstsource Solutions.
Mumbai Indians: Reliance Industries, Network 18, Reliance Power, Alok Industries.
Royal Challengers Bangalore: United Spirits.
Sunrisers Hyderabad: Sun TV.
Punjab Kings: Bombay Burmah Trading Corp., Bombay Dyeing,
Bombay Realty., National Peroxide.
Dehli Capitals: JSW Group companies, GMR Power and Urban Infra.
IPO Offerings
Inox India: The cryogenic tank maker’s public issue was subscribed to 61.28 times on day 3. The bids were led by institutional investors (147.80 times), non-institutional investors (53.20 times) and retail investors (15.30 times).
Motisons Jewellers: The public issue was subscribed to 15.02 times on day 1. The bids were led by retail investors (22.24 times), non-institutional investors (13.82), and institutional investors (0.08 times).
Muthoot Microfin: The public issue was subscribed to 0.83 times on day 1. The bids were led by retail investors (1.38 times), non-institutional investors (0.61 times) and a portion reserved for employees (1.24 times). The portion for institutional investors received no bids.
Suraj Estates: The public issue was subscribed to 0.72 times on day 1. The bids were led by retail investors (1.24 times), non-institutional investors (0.28 times) and institutional investors (0.12 times).
RBZ Jewellers: The IPO will open for bids on Tuesday and only comprise a fresh issue of Rs 100 crore. The price band is fixed at Rs 95–100 per share. The company has raised Rs 21 crore from anchor investors.
Credo Brands: The IPO will open for bids on Tuesday and will only comprise an offer for sale of Rs 549.78 crore. The price band is fixed at Rs 266-280 per share. The company has raised Rs 165 crore from anchor investors.
Happy Forgings: The Rs 1,008 crore IPO will open for bids on Tuesday. It will comprise a fresh issue of Rs 400 crore and an offer for sale of Rs 608.6 crore. The price band is fixed at Rs 808–850. The company has raised Rs 302.5 crore from anchor investors.
Bulk Deals
Archean Chemical: India Resurgence Fund-Scheme 2 sold 19.23 lakh shares (1.56%) at Rs 600 apiece; India Resurgence Fund-Scheme 1 sold 11.38 lakh shares (0.92%) at Rs 601 apiece; Piramal Natural Resources sold 11.38 lakh shares (0.92%) at Rs 600 apiece; Tata AIA Life Insurance bought 14.06 lakh shares (1.14%); DSP Mutual Fund bought 10 lakh shares (0.81%); and Goldman Sachs FDS Goldman Sachs India Equity Portfolio bought 6.23 lakh shares (0.5%) at Rs 600 apiece.
Seamec: Sunil Kumar Bhala sold 1.29 lakh shares (0.5%) at Rs 908.13 apiece.
Sapphire Foods: Sapphire Foods Mauritius sold 33.37 lakh shares (5.24%) and Samara Capital Partners Fund sold 4.49 lakh shares (0.7%) at 1,400 apiece. HDFC Mutual Fund bought 22 lakh shares (3.45%) and the Government of Singapore bought 10.05 lakh shares (1.57%) at Rs 1,400 apiece.
Insider Trades
Usha Martin: Promoter group Neutral Publishing House bought 1.18 lakh shares between Dec. 13 and 14.
Deccan Gold Mines: Promoter Rama Mines Mauritius sold 1.41 lakh shares between Dec. 12 and 15.
Ultramarine and Pigments: Promoter S Narayan sold 5,000 shares between Dec. 15 and 16.
Pledge Details
Choice International: Promoter group Patodia Properties created a pledge of 3.10 lakh shares on Dec. 15. Promoter group NS Technical Consultancy created a pledge of 13.44 lakh shares on Dec. 16.
Who's Meeting Whom
Stove Kraft: To meet investors and analysts on Dec. 21.
Container Corp: To meet investors and analysts on Dec. 20 and 21.
Siemens: To meet investors and analysts on Dec. 21.
Minda Corporation: To meet investors and analysts on Dec. 21.
Eicher Motors: To meet investors and analysts on Dec. 21 and 22.
Rallis India: To meet investors and analysts on Dec. 21.
India Glycols: To meet investors and analysts on Dec. 21.
Idea Forge: To meet investors and analysts on Dec. 21.
Sobha: To meet investors and analysts on Dec. 21.
Waree Renewables Technologies: To meet investors and analysts on Dec. 21.
Trent: To meet investors and analysts on Dec. 21.
Capri Global Capital: To meet investors and analysts on Dec. 19.
Trading Tweaks
Price band revised from 5% to 20%: Borosil.
Ex/record Interim Dividend: Easy Trip Planners.
Moved into a short-term ASM framework: TVS Holdings.
Moved Out of short-term ASM framework: Spencer’s Retail.
F&O Cues
Nifty December futures down by 0.37% to 21,447.25 at a premium of 28.6 points.
Nifty December futures open interest down by 8.6%.
Nifty Bank December futures down by 0.67% to 47947.35 at a premium of 79.65 points.
Nifty Bank December futures open interest down by 6.1%.
Nifty Options Dec. 21 Expiry: Maximum Call open interest at 21,500 and Maximum Put open interest at 21,300.
Bank Nifty Options Dec. 20 Expiry: Maximum Call Open Interest at 48,000 and Maximum Put Open Interest at 47,000.
Securities in the ban period: Balrampur Chini Mills, Hindustan Copper, India Cements, Manappuram Finance, National Aluminium, SAIL, and Zee Entertainment.
Money Market Update
The Indian rupee weakened 6 paise to close at 83.06 against the U.S. dollar on Monday.
Research Reports
Mufti Brand Owner Credo IPO - Investment Rationale, Issue Details, Financials And More: Anand Rathi
Muthoot Microfin IPO - Outlook, Valuations, Key Strengths, Risks, Peer Comparison: KRChoksey
Greenpanel - Leader In The Fast Growing MDF Segment: IDBI Capital Initiates Coverage With A 'Buy'
VRL Logistics - Branch Expansion, Formalisation Of The Sector To Drive Volume Growth: Motilal Oswal
Hero MotoCorp - Better Growth Visibility Driven By Recovery In Two-Wheeler Demand: Motilal Oswal
Federal Bank - Focusing On Growing Profitable Segments: Nirmal Bang
