Stocks To Watch: Macrotech Developers, HCL Tech, VA Tech Wabag, Lumax, ONGC
Stocks to watch before going into trade today
Asian stocks opened lower following the flat closing in the U.S, markets after a volatile trading session. The Japanese Nikkei 225 fell nearly 0.82%, while the Australian S&P/ASX 200 was down 0.60% as of 6:17 am, local time.
U.S. stocks were caught in a volatile session as traders were worried by the prospects of an impending recession amid tight Federal Reserve policy. The added danger of Russia's refusal to promise not to use nuclear weapons has also spooked markets.
The Dow closed flat after swinging between gains and losses on Wednesday. The Nasdaq Composite fell 0.5%, and the S&P 500 fell 0.2%.
The 2-10 Treasury yield curve inverted by 83 basis points, the biggest inversion in about four decades, signaling increasing concerns about a potential recession.
Oil fell 2.8%, while gold futures rose 0.9%. Bitcoin fell 1% to trade around $16,800-level.
The Indian benchmark indices closed lower during trade on Wednesday, after the RBI Monetary Policy Committee's decision to hike interest rates by 35 basis points to 6.25%.
Rupee snapped its losing streak against the U.S. dollar as the RBI hiked interest rates by 35 basis points.
At 6:41 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- fell 0.06% to 18,683.5.
Stocks To Watch
Macrotech Developers: Launches QIP consisting of 'offer for sale' to meet minimum public shareholding. The promoter shareholding currently stands at 82.2%. Floor price has been set at Rs 1,022.75 per share, 4.17% lower than the current market price.
HCL Tech: The company tied up with Intel and Mavenir to develop and deliver private 5G enterprise network solutions for communication service providers and broader cross-vertical enterprises.
Axis Bank: The wank will raise Rs 12,000 crore via unsecured, rated, listed, subordinated, taxable, non-convertible, Basel III compliant Tier II bonds with a green shoe option of Rs 11,000 crore.
VA Tech Wabag: The company appointed Pankaj Malhan as Deputy Managing Director and Group CEO, with effect from Dec. 7.
Eveready Industries India: The company appointed Bibek Agarwala as the CFO, with effect from Feb. 14, 2023.
Inox Wind: Promoters infused Rs 623 crore in the company, which was used to repay Gujarat Fluorochemicals.
Lumax Industries: The board approved setting up of new greenfield project at Chakan, Maharashtra, and availing long term credit facilities to fund this project.
ONGC: The petroleum ministry appointed Arun Kumar Singh as chairman of the company for three years, with effect from Dec. 7. The company also signed an MoU with Shell for carbon capture, utilisation and storage
Tata Consultancy Services: The company entered a partnership with BT Group to transform the latter’s legacy IT estate.
Ujjivan Small Finance Bank: The RBI approved re-appointment of Ittira Davis as managing director and chief executive officer for period of two years.
Bank of India: The bank hiked repo-based lending rates by 35 basis points with effect from Dec. 7.
Triveni Engineering and Industries: Promoter Dhruv Manmohan Sawhney to sell 7.03% stake at Rs 280-285 per share, which is a 3.04-4.75% discount to closing price on Dec. 7.
IL&FS: Company has entered into a share purchase agreement on with Axis Trustee Services to sell and transfer 1,70,30,000 equity shares representing 50% of the paid-up capital of Thiruvananthapuram Road Development Company Ltd., a joint venture of the Company for a consideration of Re 1. Company has also assigned its receivables in Thiruvananthapuram Road Development Company Ltd. and Hazaribagh Ranchi Expressway Ltd.
Elantas Beck India: Nippon India Mutual Fund bought 2.15 lakh shares (2.71%) and Pinebridge INV Asia Limited A/C PB Global Funds-Pinebridge India EQ Fund sold 2.16 lakh shares (2.72%) at Rs 4,100 apiece.
Knowledge Marine & Engineering Works: Himalaya Finance & Investment Company bought 55,000 shares (0.53%) and Pinkesh sold 1.04 lakh shares (1.01%) at Rs. 875 apiece.
Stylam Industries: India 2020 Fund II sold 1.19 lakh shares (0.7%) at Rs 1,166.02 apiece, Abakkus Asset Manager LLP (HDFC Custody) bought 3.5 lakh shares (2.06%) and Vanaja Sundar Iyer bought 1.3 lakh shares (0.76%) at Rs 1,127.05 apiece.
Wockhardt: Humuza Consultants sold 25 lakh shares (1.73%), Kirtan Maneklal Rupareliya bought 7.25 lakh shares (0.5%) and sold 707 shares, Neomile Corporate Advisory bought 15.32 lakh shares (1.06%) and sold 2,600 shares at Rs 225 apiece.
Hindustan Construction Company: IDBI Trusteeship Services sold 77.13 lakh shares (0.5%) at Rs 19.33 apiece.
New Delhi Television: LTS Investment Fund sold 5.46 lakh shares (0.84%) at Rs 358.53 apiece.
Dharmaj Crop Guard: Agro-chemical manufacturer Dharmaj Crop Guard to list today after its Rs 216-crore IPO was subscribed 35.49 times.
Who’s Meeting Whom
Krishna Institute of Medical Sciences: To meet analysts and investors on Dec. 9.
Tarsons Products: To meet investors and analysts on Dec. 8.
Safari Industries (India): To meet investors and analysts on Dec. 8.
Rupa & Company: To meet investors and analysts on Dec. 8.
Prataap Snacks: To meet investors and analysts on Dec. 8. And Dec. 9.
Indigo Paints: To meet investors and analysts on Dec. 8.
Aurobindo Pharma: To meet investors and analysts on Dec. 8.
ADF Foods: To meet analysts and investors on Dec. 9.
J Kumar Infraprojects: To meet investors and analysts on Dec. 8.
BCL Industries: To meet investors and analysts on Dec. 8.
Bigbloc Construction: To meet investors and analysts on Dec. 13.
DCX Systems: To meet investors and analysts on Dec. 8.
Sagar Cements: To meet investors and analysts on Dec. 8.
Aptus Value Housing Finance India: To meet investors and analysts on Dec. 8.
Royal Orchid Hotels: To meet investors and analysts on Dec. 8.
Paradeep Phosphates: To meet investors and analysts on Dec. 8.
Price Band Revised From 10% To 20%: Bank of India, Best Agrolife, Delhivery, GTL Infrastructure, Lloyds Steels Industries, Mangalore Chemicals and Fertilisers, Nelco, PG Electroplast, UCO Bank
Price Band Revised From 20% To 10%: Punjab and Sind Bank
Price Band Revised From 5% To 10%: Rama Steel Tubes, Xpro India
Ex-Date Interim Dividend: Can Fin Homes, Aptus Value Housing Finance India
Ex-Date Bonus: BLS International Services
Record-Date Interim Dividend: Hinduja Global Solutions
Move Into Short-Term ASM Framework: Puravankara, Dish TV India
NCL Industries:Promoter Group BlueVallyDevelopers bought 6,500 shares on Dec. 6 and Promoter Group Kmadhu (HUF) bought 8,000 shares on Dec. 7.
Ultramarine & Pigments: Promoter Group Deepa Ajay sold 3,400 shares and Promoter Daya Sridhar sold 3,769 shares between Dec. 6 and Dec. 7.
S&T Corporation: Promoter & Director Ajaykumar Savai sold 3,000 shares on Dec. 6 and Promoter & Director Dhaval Ajay Savai sold 8,008 shares between Dec. 5 and Dec. 6.
Liberty Shoes: Promoter Group Pranav Gupta sold 89,765 shares between Dec. 2 and Dec. 6.
Arman Financial Services: Promoter Amit R. Manakiwala sold 772 shares on Dec. 6.
Vaibhav Global: Promoter Group Brett Enterprises bought 4,000 shares on Dec. 6.
Geojit Financial Servies: Promoter BNP Paribas SA sold 1.3 lakh shares on Dec. 6.
Gujarat Fluorochemicals: Promoter Inox Leasing and Finance sold 22 lakh shares on Dec. 5.
Pledge Share Details
Jindal Steel & Power: Promoter Group Opelina Sustainable Services revoked a pledge of 17 lakh shares between Dec. 2 and Dec. 5.
Gati: Promoter Mahendra Kumar Agarwal invoked a pledge of 12 lakh shares on Nov. 28.
Star Cement: Promoter Group Vinay And Company invoked a pledge of 50,000 shares on Dec. 1.
Nifty December futures ended at 18,673.70, a discount of 97.65 points.
Nifty December futures rose 0.66% and 1,470 shares in Open Interest.
Nifty Bank December futures ended at 43,330.00, a discount of 127.80 points.
Nifty Bank December futures fell 1.05% and 1,124 shares in Open Interest.
Securities added to the ban period: IndiaBulls Housing Finance, Gujarat Narmada Valley Fertilizers And Chemicals, Punjab National Bank
Securities removed from the ban period: Nil