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

Stocks in Asia opened mixed as investors focused on the outlook for inflation and interest rates ahead of the Bank of Japan’s policy decision later Tuesday.

Shares ticked higher in Japan, but down in South Korea and Australia. US equity futures rose after the S&P 500 closed at its lowest level in more than a month on Monday. The benchmark was dragged down by declines in big-tech firms including Apple Inc., Microsoft Corp. and Amazon.com Inc. 

Crude rose 1.7%, while gold futures fell 0.2%. Bitcoin dipped 0.8% to trade around $16,600-level.

Domestic benchmark indices snapped their two-day losing streak to close higher. Broader market indices underperformed their larger peers.

Overseas investors in Indian equities remained net sellers for the third day in a row on Monday. Foreign portfolio investors offloaded equities worth Rs 538.1 crore and domestic institutional investors continued their buying spree for the ninth day, mopping up equities worth Rs 687.3 crore, according to the NSE.

Rupee appreciated against U.S. dollar to close near the day’s high, supported by strong performance by domestic equities.

At 6:50 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- was up at 0.21% to 18,449.

• NDTV: Adani Group subsidiary Vishvapradhan Commercial Pvt. Ltd. has bought 8.27% stake in the company via open offer, taking its overall shareholding to 37.45%.

• Jet Airways: The monitoring committee informed NCLT that slots have not been procured for Mumbai and Delhi airports as pending dues, required to be paid as per resolution plan, have not been deposited with airport authorities in these two cities.

• Sterling and Wilson Renewable Energy: Promoters Shapoorji Pallonji and Co. and Khurshed Yazdi Daruvala will sell up to 3.69% and 1.58% stake of the company, respectively, amounting to 1 crore shares, at a floor price of Rs 270 per share on Dec. 20 and 21.

• HDFC: The lender raised home loan rates by 35 basis points for customers with credit scores over 800. The new rates, effective Dec. 20, will start from 8.65% for such customers.

• DFM Foods: The discovered price from the company’s delisting process is Rs 525 apiece, compared to its floor price of Rs 263.80.

• IRB Infrastructure Developers: The board of the company will meet on Jan. 4, 2023, to consider a stock split.

• IRCTC: Life Insurance Corporation of India increased its stake in the company to 7.28% from 5.01%.

• Bank of India: The bank infused Rs 57.92 crore in its joint venture Star Union Dai-lchi Life Insurance Co.Ltd.

• Just Dial: Promoter Reliance Retail Ventures Ltd. will sell 16.86 lakh shares, representing 2% of the overall shareholding, via open market sale to achieve minimum public shareholding.

• NBCC (India): The company secured a project worth Rs 69.3 crore for construction of multistoried quarter complex at Bhoinager, Bhubaneswar by Odisha Power Transmission Corporation.

• Ipca Laboratories: The company acquired additional 6.53% stake in Trophic Wellness Pvt. Ltd., taking its overall shareholding to 58.88%.

• KFin Technologies: The IPO was subscribed 0.55 times, or 55%, on the first day. The QIB portion led the demand with 91% subscription, while non-institutional investors placed bids for 1% of their portion. The retail portion was subscribed 26%.

• Elin Electronics: The electronics manufacturing services provider will launch its initial share sale on Dec. 20, which will continue till Dec. 22. The company had reduced its IPO size to Rs 475 crore, which will include a fresh issue worth Rs 175 crore and an offer for sale worth Rs 300 crore. The price band for the issue has been fixed at Rs 234-247 apiece.

• ISGEC Heavy Engineering: To meet analysts and investors on Dec. 20.

• Ador Welding: To meet analysts and investors on Dec. 20.

• Arvind: To meet analysts and investors on Dec. 20.

• Nuvoco Vistas Corporation: To meet analysts and investors on Dec. 20 and Dec. 21.

• Meghmani Finechem: To meet analysts and investors on Dec. 20.

• Solar Industries India: To meet analysts and investors on Dec. 21 and Dec 22.

• Price Band Revised From 20% To 10%: Fertilizers and Chemicals Travancore, Madras Fertilizers

• Ex-Date Annual General Meeting: Sanwaria Consumer, Hemisphere Properties India

• Ex-Date Reduction of Capital: Sankhya Infotech 

• Ex-Date Bonus: Sarthak Industries 

• Move Into Short-Term ASM Framework: Themis Medicare

Aster DM Healthcare, Firstsource Solutions, L.G.Balakrishnan & Bros., Manorama Industries, RailTel Corporation of India, Technocraft Industries (India), Tips Industries

• GHCL: Promoter Neelabh Dalmia bought 1,200 shares between Dec. 15 and Dec. 16.

• GMM Pfaudler: Promoter Pfaudler Inc sold 77.85 lakh shares on Dec. 16.

• NRB Bearings: Promoter Aziz Yousuf Zaveri bought 4,320 shares on Dec. 16.

• GNA Axles: Promoter Group Gursaran Singh bought 13,200 shares on Dec. 15.

• Indian Railway Catering and Tourism Corporation: Promoter ‘The President of India, acting through and represented by the Ministry of Railways, Goverment of India’ sold 4 crore shares between Dec. 15 and Dec. 16.

• Suryoday Small Finance Bank: Promoter Baskar Babu Ramachandran sold 50 lakh shares on Dec. 16.

• Sapphire Foods India: Promoters Sapphire Foods Mauritius sold 39 lakh shares and Sagista Realty Advisors (as Trustee of QSR Management Trust) sold 1.35 lakh shares between Dec. 15 and Dec. 16.

• Sterling and Wilson Renewable Energy: Promoter Shapoorji Pallonji and Company created a pledge of 70 lakh shares on Dec. 15. 

• Suryoday Small Finance Bank: Promoter Baskar Babu Ramachandran invoked a pledge of 50.5 lakh shares on Dec. 16.

Rupee closed 0.20% higher against the U.S. dollar at 82.70 on Monday, compared to Friday’s close of 82.87.

• Nifty December futures ended at 18,499, a premium of 170.35 points.

• Nifty December futures fell 3.51% and 7,324 shares in Open Interest.

• Nifty Bank December futures ended at 43,561.10, a premium of 274.30 points.

• Nifty Bank December futures rose 8.32% and 8,545 shares in Open Interest.

• Securities added to the ban period: Balrampur Chini Mills, 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

• Elin Electronics IPO - Leading Electronics Manufacturing Services Provider: Reliance Securities

• KFin Technologies IPO - Investment Rationale, Strengths, Key Strategies, Risks, Financials: Anand Rathi

• JSW Steel - Near-Term Bottom In Place; Set For An Upswing: Systematix

• KNR Constructions - Execution Set To Improve; New Order Inflows Expected: Motilal Oswal

• Cement Sector Check - Lackluster Demand; Infrastructure Driving Growth: Nirmal Bang

• India Consumer Staples - Silver Lining For Recovery In Rural Markets: Dolat Capital