Stock Market Today: All You Need To Know Going Into Trade On Dec. 15
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Federal Reserve hiked interest rates by 50 basis points on Wednesday, following which the U.S. stocks fell and the Asian markets also opened on a tepid note on Thursday.
The S&P 500 was down 0.61%, Dow Jones fell 0.42% while Nasdaq was down 0.76% on Wednesday. The Asian markets opened on a cautious note, as of 6:55 am, Japanese Nikkei 225 was down 0.02% and the Australian ASX was lower by 0.23%.
The yield on 10-year U.S. treasuries advanced three basis points to 3.49% on Wednesday.
Crude rose 2.7% as moderate inflation sparked hopes of a better outlook and softer landing. Gold futures rose 0.7%, while
Domestic benchmark gauges closed higher for the second day in a row amid expectations of yet another rate hike by the U.S. Federal Reserve.
Rupee registered gains against the U.S. dollar today to end its two-day-long losing streak ahead of Fed’s policy announcement.
At 6:58 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- declined 0.10% to 18,731.
Stocks To Watch
IRCTC: The company will offload 2 crore shares, representing 2.5% of its entire shareholding, via a OFS route between Dec. 15 and 16 at a floor price of Rs 680 apiece. The issue will have the option to sell 2 crore additional shares in the event of oversubscription.
Sapphire Foods: Promoters Sapphire Foods Mauritius and Sagista Realty Advisors are mulling to sell 40 lakh shares (6.3%) and 1.5 lakh (0.24%) stake, respectively in the company. Shareholder WWD Ruby will sell 31.77 lakh shares, representing nearly 5% stake.
Poonawalla Fincorp: The company will sell subsidiary Poonawalla Housing Finance to TPG-affiliate Perseus SG for Rs 3,900 crore.
Torrent Pharmaceuticals: The company will co-market its anti-diabetic drug and its fixed dose combinations in partnership with Boehringer Ingelheim India across the country.
Dilip Buildcon: The company executed a contract agreement worth Rs 1,061 crore with Gujarat Metro Rail Corporation via its RBL-DBL JV for metro infrastructure construction near Bheshan under the Surat Metro Rail Project.
Shriram Properties: The company acquired Golden Ira, a plotted development project in North Bengaluru, for Rs 125 crore through its wholly owned subsidiary SPL Housing Projects.
Glenmark Pharmaceuticals: The company will sell its cardiac brand Razel (Rousvastatin) and combinations in India and Nepal markets at Rs 313.7 crore to J.B. Chemicals & Pharmaceuticals.
Biocon: The company initiated clinical study of Itolizumab in patients with ulcerative colitis in India, in collaboration with Equillium Inc.
State Bank of India: The bank will raise Rs 10,000 crore AT1 capital via Basel III compliant debt instrument till fiscal ending March 2024. The bank also hiked MCLR by 25 basis points across tenors, effective Dec. 15.
Thermax: The Mumbai bench of Customs, Excise and Service Tax Appellate Tribunal set aside the excise duty demand notices from earlier years for Rs 1,381.55 crore on goods sold by the company.
Wipro: The company announced the launch of Capco, a new financial services advisory capability for the Middle East market.
NTPC: The company commissioned and started commercial operations at the second part capacity of 67.73 MW, out of 230 MW Ettayapuram solar PV project.
Gulshan Polyols: The company received an order worth Rs 137 crore to supply 22,209.2 kilolitres of ethanol to oil marketing companies. It has also won an order worth Rs 54.4 crore to supply 9,300 kilolitres of ethanol to Nayara Energy.
Power Grid Corporation of India: The board approved investment of Rs 330.61 crore for transmission system for evacuation of power from REZ in Rajasthan.
Tamilnad Mercantile Bank: The bank executed the agreement for marketing the general insurance products under the tie-up arrangement with Kotak Mahindra General Insurance Company.
Indian Metals & Ferro Alloys: Subsidiary company Utkal Coal received compensation of Rs 20.69 crore towards reimbursement of statutory expenses from Ministry of Coal for its Utkal 'C' coal block.
Offerings
Sula Vineyards: The IPO was subscribed 2.33 times on its final day. The QIB portion was subscribed 4.13 times. Non-institutional investors placed bids for 1.51 times of their respective portion, while the retail basket was subscribed 1.65 times.
Abans Holdings: The IPO was subscribed 46% subscription on the third day. The QIB portion was subscribed 2.19 times. The HNIs subscribed 17% of their portion, while the retail portion was subscribed 32%.
Landmark Cars: The initial share sale saw 39% subscription on the second day. The QIB portion was subscribed 9%, and non-instituitional investors placed bids for 84% of the portion reserved for them. The retail portion was subscribed 36% and the employees portion was subscribed 2.18 times.
Bulk Deals
Equitas Holdings: CDC Group sold 76.04 lakh shares (2.22%) at Rs 125.04 apiece.
Goodluck India: Arpna Capital Services sold 1.44 lakh shares (0.56%) at Rs 496.06 apiece.
VRL Logistics: Max Life Insurance Company bought 7.02 lakh shares (0.79%), ICICI Prudential Mutual Fund bought 5.91 lakh shares (0.67%), Quant Mutual Fund bought 5.26 lakh shares (0.6%) at Rs 570 apiece, Vijay Basavanneppa Sankeshwar sold 47.92 lakh shares (5.42%) at Rs 570.01 apiece.
Who’s Meeting Whom
Safari Industries (India): To meet investors and analysts on Dec. 15.
Adani Wilmar: To meet investors and analysts on Dec. 16.
Sundram Fasteners: To meet investors and analysts on Dec. 15.
Mallcom (India): To meet investors and analysts on Dec. 15.
Can Fin Homes: To meet investors and analysts on Dec. 16.
Trading Tweaks
Price Band Revised From 10% To 5%: Punjab & Sind Bank
Price Band Revised From 20% To 10%: Rajdarshan Industries, SEPC
Ex-Date Annual General Meeting: PTC India, Take Solutions, Rashtriya Chemicals and Fertilizer
Ex-Date Dividend: PTC India, Rashtriya Chemicals and Fertilizer
Ex-Date Interim Dividend: Rashtriya Chemicals and Fertilizer
Record-Date Interim Dividend: Sukhjit Starch & Chemicals
Insider Trades
Maharashtra Scooters: Promoter Group Bachhraj Factories sold 2,329 shares between Dec. 12 and Dec. 13.
Ultramarine & Pigments: Promoter Group Deepa Ajay sold 3,000 shares and Promoter Daya Sridhar sold 4,490 shares on Dec. 14.
Confidence Petroleum India: Promoter Confidence LPG Bottling bought 5.2 lakh shares on Dec. 9.
NRB Bearings: Promoter Group Aziz Yousuf Zaveri bought 806 shares on Dec. 13.
Vaibhav Global: Promoter Brett Enterprises bought 6,000 shares on Dec. 13.
Geojit Financial Services: Promoter Group BNP Paribas SA sold 1 lakh shares on Dec. 12.
Bajaj Healthcare: Promoter Group Anil Champalal Jain bought 6,000 shares on Dec. 13.
Star Cement: Promoter Groups Rahul Chamaria sold 2.16 lakh shares, Sachin Chamaria sold 1.57 lakh shares, Hardeo Das Kamakhya Prasad HUF sold 31,000 shares, Suchita Agarwal sold 15,000 shares, Kamakhya Chamaria sold 20,000 shares between Dec. 12 and Dec. 13.
Pledge Share Details
Aurobindo Pharma: Promoter RPR Sons Advisors Pvt.Ltd., P.Suneela Rani created a pledge of 37.3 lakh shares on Dec. 9.
Money Market Update
Rupee closed 0.43% higher against the U.S. dollar at 82.44 on Wednesday, compared to Tuesday’s close of 82.80.
F&O Cues
Nifty December futures ended at 18,738.40, a premium of 34.55 points.
Nifty December futures fell 0.42% and 896 shares in Open Interest.
Nifty Bank December futures ended at 44,145, a premium of 74 points.
Nifty Bank December futures rose 1.32% and 1,587 shares in Open Interest.
Securities added to the ban period: Bharat Heavy Electricals, Delta Corp., Gujarat Narmada Valley Fertilizers And Chemicals, IndiaBulls Housing Finance
Securities removed from the ban period: Nil
Research Reports
Budget Preview - India's Fiscal Deficit May Be 6.1-6.2% Of GDP In FY23E: Motilal Oswal
IIFL Finance - ‘Phygitally’-Driven Diversified NBFC Focused On Retail: ICICI Securities
India's WPI Inflation Corrected Sharply To A Lower-Than-Expected 5.8% In November: ICRA
India Pharma - U.S. Prescription, Volume Trends - Acceleration In New Launches: Systematix