Stock Market Today: All You Need To Know Going Into Trade On Dec. 16
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Shares fell in Asia on Friday, while futures Hong Kong pointed to a decline. The S&P 500 closed at its lowest level in more than a month as investors sought haven assets after warnings by the Federal Reserve and the European Central Bank of more pain to come.
Oil was little changed after a drop on Thursday as renewed fears of a global slowdown offset hopes that China’s easing of Covid-19 restrictions would help boost demand.
Domestic benchmark indices closed in the red following Federal Reserve’s rate hike and signs that it was not done with its fight against inflation. While 19 of 20 BSE sectoral indices fell, only BSE Oil & Gas managed to close flat.
Rupee reversed gains against the U.S. dollar from yesterday to fall as much as 0.4% during the session and close near the day’s low.
At 6:20 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- fell 0.55% to 18,358.5.
Stocks To Watch
Reliance Industries: Reliance Consumer Products launched FMCG brand ‘Independence’ in Gujarat to cater to demand in categories like edible oil, staples, processed foods, beverages and other daily essentials. Reliance Digital Health, another subsidiary of the company, signed a deal to acquire 2.25% stake in New York-based Synchron.
Wipro: The company signed deals with a five-year, multi-million-dollar deal with Mazda Motor Logistics Europe to help industrialise Mazda IT, digitise processes, and enable agile DevOps. It signed another deal with fintech player Finastra to deploy its trade finance solutions in Middle East.
Deepak Fertilisers and Petrochemicals Corporation: The board approved a composite scheme of arrangement to restructure the company’s mining chemical and fertiliser businesses.
Hindustan Petroleum Corporation: The company will raise Rs 10,000 crore debt via non-convertible debentures, bonds or notes.
HDFC Asset Management Company: Life Insurance Corporation of India increased its stake in the company to 9.05% from 7.02%.
AIA Engineering: The company will buy 26% stake in Clean Max Meridius.
Hindustan Foods: The company will purchase Himachal manufacturing plant of Reckitt Benckiser for Rs 156 crore.
Shriram Transport Finance: The board will meet on Dec. 24 to consider the proposal for a dividend.
Shriram Pistons & Rings: The company will acquire majority stake in Singapore-backed electric motor design and manufacturing specialist company EMF Innovations through subsidiary SPR Engenious for a consideration of Rs 78 crore.
SJVN: Subsidiary SJVN Green Energy achieved financial closure of its 1,000 MW solar power project at Bikaner, Rajasthan.
IRCTC: The offer for sale by the company was oversubscribed 3.08 times on the first day. It will open on Dec. 16 for retail investors.
Power Finance: Plans to raise funds from the corporate bond market today. Power Finance’s bonds forms more than two-third of the volumes up for sale.
IDBI Bank: Files insolvency plea against Zee Entertainment to recover Rs 150 crore.
Landmark Cars: The issue was subscribed 3.06 times on the final day. The QIB portion was subscribed 8.71 times, and the HNI portion was subscribed 1.32 times. The retail portion was subscribed 59% and the employee reserved portion was subscribed 2.93 times.
Abans Holdings: The IPO was subscribed 1.1% subscription on the final day. The QIB portion was subscribed 4.10 times. The portion reserved for non-institutional investors was subscribed 1.48 times, while the retail portion was subscribed 40%.
Droneacharya Aerial Innovations: The maiden share sale, which was offered on the BSE SME IPO platform, was oversubscribed 262 times by its closing day. The QIB portion was subscribed 46.21 times, whereas HNIs oversubscribed their portion 388.71 times. The retail portion was subscribed 330.75 times.
FSN E-Commerce Ventures: Mirae Asset Mutual Fund bought 58.5 lakh shares (0.21%), Goldman Sachs bought 1.29 crore shares (0.45%), ICICI Prudential Life Insurance Company bought 87.7 lakh shares (0.31%), Canada Pension Plan Investment Board bought 92.5 lakh shares (0.33%), Kravis Investment Partners II sold 3.68 crore shares (1.29%) at Rs 171 apiece.
Sapphire Foods India: Bajaj Allianz Life Insurance Company bought 1.85 lakh shares (0.29%), Dendana Investments (Mauritius) bought 31,588 shares (0.5%), Fidelity Funds 6.92 lakh shares (1.09%), Ghisallo Master Fund bought 92,799 shares (0.15%), Goldman Sachs (Singapore) Pte- ODI bought 74,240 shares (0.12%), Government of Singapore bought 3.59 lakh shares (0.56%), HSBC Global Investment Funds-Asia Ex Japan Equity Smaller Companies bought 74,240 shares (0.12%), ICICI Prudential Life Insurance Company bought 1.86 lakh shares (0.29%), ICICI Prudential Mutual Fund bought 8.91 lakh shares (1.4%), Integrated Core Strategies (Asia) 92,799 shares (0.15%), ITI Mutual Fund bought 74,240 shares (0.12%), Kotak Funds India Midcap Fund 4.37 lakh shares (0.69%), Mirae Asset Mutual Fund bought 20.04 lakh shares (3.15%), Monetary Authority Of Singapore bought 1.31 lakh shares (0.21%), Nippon India Mutual Fund 7.83 lakh shares (1.23%), PCA India Consumer Equity Open bought 74,240 shares (0.12%), PI Opportunities Fund I bought 4 lakh shares (0.63%), Societe Generale bought 2.41 lakh shares (0.38%), Sapphire Foods Mauritius sold 37.8 lakh shares (5.95%), WWD Ruby sold 30.45 lakh shares (4.79%) at Rs 1,347 apiece.
Dollar Industries: VK Mercantile bought 2.46 lakh shares (0.43%), Vinod Kumar Gupta sold 2.46 lakh shares (0.43%) at Rs 436.5 apiece.
Repco Home Finance: Apax Global Alpha sold 3.64 lakh shares (0.58%) at Rs 243.68 apiece.
Who’s Meeting Whom
Salzer Electronics: To meet investors and analysts on Dec. 16.
Clean Science and Technology: To meet investors and analysts on Dec. 16.
SRF: To meet investors and analysts on Dec. 16.
Meghmani Finechem: To meet investors and analysts on Dec. 16.
CreditAccess Grameen: To meet investors and analysts on Dec. 19 and Dec. 22.
DCX Systems: To meet investors and analysts on Dec. 16.
Price Band Revised From 20% To 10%: UCO Bank
Ex-Date Annual General Meeting: SpiceJet
Ex-Date Face Value Split: Lancer Container Lines, Star Housing Finance, S&T Corporation
Ex-Date Bonus: CL Educate, Star Housing Finance, Gloster
Ex-Date Interim Dividend: Crown Lifters
Record-Date Interim Dividend: Rashtriya Chemicals and Fertilizers, Crown Lifters
Record-Date Bonus: CL Educate
Record-Date Face Value Split: Lancer Container Lines, Star Housing Finance, S&T Corporation
Record-Date Final Dividend: Rashtriya Chemicals and Fertilizers
Move Out Of Short-Term ASM Framework: Purvankara
Orissa Minerals Development Company
GHCL: Promoter Neelabh Dalmia bought 1,400 shares, Promoter Anurag Dalmia (HUF) bought 5,500 shares, Anurag Dalmia bought 3,300 shares and Promoter bought 210 shares between Dec. 12 and Dec. 14.
Usha Martin: Promoter Peterhouse Investments sold 2 lakh shares on Dec. 14.
Vaibhav Global: Promoter Brett Enterprises bought 4,000 shares on Dec. 14.
Geojit Financial Services: Promoter BNP Paribas SA sold 2.5 lakh shares on Dec. 13.
Fineotex Chemical: Promoter & Director Aarti Mitesh Jhunjhunwala bought 15,000 shares and Surendra Tibrewala bought 19,000 shares on Dec. 15.
GNA Axles: Promoter Group GNA Gears bought 1,200 shares between Nov. 24 and Dec. 9.
Money Market Update
Rupee closed near the day’s low against the U.S. dollar at 82.75 on Thursday, compared to Wednesday’s close of 82.44.
Nifty December futures ended at 18,445.50, a discount of 303.40 points.
Nifty December futures rose 3.92% and 8,239 shares in Open Interest.
Nifty Bank December futures ended at 43,504, a discount of 662.20 points.
Nifty Bank December futures fell 7.7% and 9,356 shares in Open Interest.
Securities added to the ban period: Bharat Heavy Electricals, Delta Corp., Gujarat Narmada Valley Fertilizers And Chemicals, IndiaBulls Housing Finance, India Railways Catering and Tourism Corporation, Punjab National Bank
Securities removed from the ban period: Nil
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Prince Pipes - Multiple Growth Levers At Play, Attractive Valuation: IDBI Capital Initiates Coverage
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