Stock Market Today: All You Need To Know Going Into Trade On Dec. 20

Most markets in the Asia-Pacific region rose, tracking overnight gains on Wall Street as traders continued to remain optimistic about the U.S. Federal Reserve cutting interest rates in 2024.

Equities in Japan rose as traders assessed the Bank of Japan's policy meet outcome. The Japanese central bank held rate steady at -0.1%, and maintained its yield curve control policy, in line with market expectation. The Nikkei was 1.32% higher at 33,656.92 as of 06:28 a.m.

Share indices in Australia and South Korea were also trading in green. The S&P/ASX 200 was 0.58% higher at 7,532.60, while the KOSPI was 0.92% up at 2,592.28 as of 06:28 a.m.

The S&P 500 index and Nasdaq 100 advanced 0.59% and 0.49%, respectively on Tuesday. The Dow Jones Industrial Average rose by 0.68%.

Brent crude was trading 0.97% higher at $73.44 a barrel, as of 06:21 a.m. Gold fell 0.04% to $2,039.56 an ounce.

India's benchmark indices recovered from intraday losses and ended higher, tracking gains in Reliance Industries Ltd., NTPC Ltd., and ITC Ltd.

The S&P BSE Sensex was up 122.09 points, or 0.17%, at 71,437.19, while the NSE Nifty 50 ended 34.45 points, or 0.16%, higher at 21,453.10.

Intraday, the Nifty 50 declined 0.38%, or 80.90 points, to 21,337.75; while the BSE Sensex fell 0.34%, or 243.11 points, to 71,071.89.

Overseas investors remained net sellers of Indian equities for the second consecutive session on Tuesday. Foreign portfolio investors offloaded stocks worth Rs 601.5 crore, while domestic institutional investors mopped up stocks worth Rs 294.3 crore, according to data from the NSE.

The Indian rupee closed 13 paise lower at Rs 83.19 against the U.S. dollar.

• Bharat Petroleum Corp: The company approved a proposal for setting up 400 KTPA polypropylene unit at its Kochi refinery. The cost of the project is Rs 5,044 crore which will be funded in a debt-equity ratio of 65:35.

• Glenmark Life Sciences: The Competition Commission of India has approved the acquisition of majority shareholding of Glenmark Life Sciences by Nirma.

• Embassy Office Parks REIT: Blackstone is looking to sell its entire 23.5% stake in the company via a mega block deal on Wednesday. The floor price is set as Rs 310 per share.

• Nippon Life India AMC: IndusInd Bank will sell a 2.86% stake in the company via a block deal on Wednesday. The floor size is set at Rs 426 per share, 5% discount to Tuesday's closing price.

• Transformers And Rectifiers: The company received an order worth of Rs 118 crore from Uttar Pradesh Power Transmission Corporation.

• Rail Vikas Nigam: The company emerged as the lowest bidder for a project worth 123 crore in a 49: 51 Joint venture with KRDCL. The project is to upgrade Varkala Sivagiri railway station in Kerala.

• Mining and metals stocks: Nearly 100 more blocks of critical minerals will be put on auction before February next year, Coal and Mines Minister Pralhad Joshi said on Tuesday. Offshore minerals will be put on sale in the auction that will take place in March and April.

• JK Tyre and Industries: The company opened its QIP for raising up to Rs 500 crore, and has set the floor price of QIP at Rs 358.96 per share which indicates a discount of 5.2% to the stock's previous close of Rs 378.70 on NSE.

• Varun Beverages: The company will acquire South Africa’s ‘The Beverage Company’ and its subsidiaries for ZAR 3 billion or Rs 1,320 crore. The company signed a MoU with Jharkhand Government for the Patratu manufacturing plant with a total capital outlay of Rs 450 crore.

• ITC: The company’s unit Infotech India incorporated a wholly owned subsidiary ITC Arabia for about Rs 35 crore.

• Tech Mahindra: CP Gurnani ceases to be MD and CEO of the company on account of the completion of his tenure. Mohit Joshi to take over as CEO and MD effective Dec. 20.

• Wipro: The company’s unit Wipro Holdings has transferred 100% shareholding in Designit A/S to Wipro IT Services UK Societas.

• NTPC: The group achieved its fastest 300 billion units of power production so far in FY24.

• Jubilant FoodWorks: The Company's unit, Jubilant Foodworks Netherlands, launched a cash offer to acquire the remaining 45.33% share capital of DP Eurasia, a subsidiary company of JFN, at Rs 95 pence per share.

• Godrej Agrovet: Sandeep Kumar Singh has resigned from the position of CEO of the animal feed business. A. Y. Rajendra has been appointed as CEO of the animal feed business.

• National Fertilizers: The company approved to setting up of a Nano Urea (Liquid) production plant based on the financial viability in Techno-Economic - Feasibility Report.

• Deepak Nitrite:  The company approved the offtake of 250 KTPA propylene and 11 KTPA hydrogen from Petronet LNG's Dahej plant. Petronet LNG will supply hydrogen and propylene to the company’s unit Deepak Phenolics for 15 years.

• Maithan Alloys: The company invested 49.84 crores in GAIL by purchasing 38.34 lakh shares 0.06% stake in the company through an open market.

• Abbott:  Vivek V Kamath resigned from the position of managing director w.e.f March 18, 2024.

• Motisons Jewellers: The public issue was subscribed 51.50 times on day 2. The bids were led by non-institutional investors (69.68 times), retail Investors (64.60 times), institutional investors (0.66 times).

• Suraj Estates: The public issue was subscribed 2.42 times on day 2. The bids were led by retail investors (3.9 times), non-institutional investors (2.06 times) and institutional investors (0.12 times).

• Muthoot Microfin: The public issue was subscribed 2.83 times on day 2. The bids were led by retail investors (4.06 times), non-institutional investors (3.12 times) and employee reserved (2.87 times) and institutional investors 0.46 times.

• RBZ Jewelers: The public issue was subscribed 2.28 times on day 1. The bids were led by, retail investors (4.55 times), and non-institutional investors (0.71 times). There were no bids from institutional investors.

• Credo Brands: The public issue was subscribed 2.09 times on day 1. The bids were led by retail investors (3.29 times), non-institutional investors (2.06 times), and institutional investors (0.01 times).

• Happy Forgings: The public issue was subscribed 2.32 times on day 1. The bids were led by non-institutional investors (3.58 times), retail investors (3.03 times), and institutional investors (0.01 times).

• Azad Engineering: The IPO will open for bids on Wednesday. It will comprise of fresh issue of Rs 240 crore and an offer for sale of Rs 500 crore. The price band is fixed at Rs 499-524. The company has raised __ crores from anchor Investors. 

• DOMS Industries: The company's shares will debut on the stock exchanges on Wednesday at an issue price of Rs 790 apiece. The Rs 1,200-crore IPO was subscribed 93.52 times on its third and final day. Bids were led by institutional investors (115.97 times), retail investors (69.67 times), non-institutional investors (66.51 times), and portion reserved for employees (29.21 times).

• India Shelter Finance Corp: The company's shares will debut on the stock exchanges on Wednesday at an issue price of Rs 493 apiece. The Rs 1,200-crore IPO was subscribed 36.71 times on its third and final day. Bids were led by institutional investors (89.7 times), non-institutional investors (28.51 times) and by retail investors (9.95 times).

• Jindal Saw: Cresta Fund sold 20 lakh shares (0.62%), Albula Investment Fund sold 2.6 lakh shares (0.08%) while Global Worth Securities bought 6.8 lakh shares (0.21%), Societe Generale bought 5 lakh shares (0.15%), HSBC Mutual Fund bought 4.19 lakh shares (0.13%), Flowers Valley bought 4 lakh shares (0.12%), Madhukar Sheth bought 2.6 lakh shares (0.08%) at Rs 429.1 apiece.

• Apollo Tyres: White IRIS Investment sold 2.85 crore shares (4.49%), while Nippon India Mutual Fund bought 1.2 crore shares (1.89%), ICICI Prudential Mutual Fund bought 30 lakh shares (0.47%), Societe Generale bought 23.07 lakh shares (0.33%), Morgan Stanley Asia Singapore PTE bought 16.40 lakh shares (0.24%), among others, at Rs 448.35 apiece.

• Ajmera Realty and Infra: Fahrenheit Fun and Games sold 7 lakh shares (1.97%), while Quest Investment Advisors-PMS bought 3.01 lakh shares (0.84%), Quest Investment Advisors-PMS Multi bought 2 lakh shares (0.56%) at Rs 425 apiece.

• Paisalo Digital: Promoter Equilibrated Venture Cflow bought 6.14 lakhs shares on Dec. 19.

• Choice International: Promoter NS Technical Consultancy bought 90,000 shares on Dec. 18.

• Fusion Micro Finance: Promoter Honey Rose Investment sold 64.57 lakh shares on Dec.14. Promoter Creation Investments Fusion sold 4.34 lakh shares on Dec. 14.

• KFin Technologies: Promoter General Atlantic Singapore Fund PTE sold 1.7 crore shares on Dec. 15.

• Star Cement: Promoter Rajendra Udyog sold 1.4 lakh shares on Dec. 14. Promoter Suchita Agarwal sold 10,000 crore shares on Dec. 14.

• DB Realty: Promoter Shanita Deepak Jain sold 8,116 shares on Dec.11.

• Cigniti Technologies: Promoter C.V.Subramanyam sold 20,000 shares on Dec.14.

• Choice International: Promoter Shree Shakambhari EXIMS revoked a pledge for 7.7 lakh shares on Dec. 18.

• Rolex Rings: To meet investors and analysts on Dec. 28.

• Adani Power: To meet investors and analysts on Dec. 22.

• Transformers and Rectifiers: To meet investors and analysts on Dec. 21 and 22.

• Geojit Financial Services: To meet investors and analysts on Dec. 21.

• ADF Foods: To meet investors and analysts on Dec. 22.

• Kirloskar Pneumatic: To meet investors and analysts on Dec. 22.

• Yathart Hospital and Trauma Care Services: To meet investors and analysts on Dec. 21.

• Price band revised from 10% to 5%: Nintec Systems.

• Ex/record AGM: IFCI, Rashtriya Chemicals and Fertilizers.

• Moved Out of short-term ASM framework: BCL Industries, Bliss GVS Pharma, Syncom Formulations.

• Nifty December futures up by 0.24% to 21,527.75 at a premium of 74.65 points.

• Nifty December futures open interest up by 7.9%.

• Nifty Bank December futures up by 0.13% to 48009.80 at a premium of 138.9 points.

• Nifty Bank December futures open interest up by 3.6%.

• Nifty Options Dec 21 Expiry: Maximum Call open interest at 21,500 and Maximum Put open interest at 21,400.

• Bank Nifty Options Dec 20 Expiry: Maximum Call Open Interest at 48,000 and Maximum Put open interest at 46,500.

• Securities in THE ban period: Balrampur Chini Mills, Delta Corp, Indus Tower, IRCTC, Manappuram Finance, National Aluminum, Piramal Enterprise, RBL Bank, SAIL, Zee Entertainment.

The Indian Rupee weakened 13 paise to close at 83.19 against the U.S. dollar on Tuesday.

• RBZ Jewellers IPO - Investment Rationale, Financials, Key Strategies, Risks: Anand Rathi

• Happy Forgings IPO - Investment Rationale, Issue Details, Financials, Risks And More: Anand Rathi

• Can Fin Homes - Fixing For Governance; Building For Durability: HDFC Securities

• Public Sector Banks - Well Poised For Re-Rating 2.0: Motilal Oswal

• Devyani International - Foray In The Thailand Market: Dolat Capital

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