Stock Market Today: All You Need To Know Going Into Trade On Dec. 22

Stocks opened higher in Japan, South Korea and Australia on Thursday, buoyed by gains in the U.S. markets. Futures for Hong Kong climbed, as did an index of US-listed Chinese shares. 

U.S. stocks fared well as rising investor sentiment and better-than-expected results by some propped up the market. The S&P 500 was up 1.4%, as were 95% of the stocks listed on the index, and so was the tech-heavy Nasdaq 100. The yield on 10-year Treasuries was stable at 3.69%.

Crude rose 2.3%, while gold futures changed little. Bitcoin declined 0.5% to trade around $16,800-level.

India benchmark indices Sensex and Nifty opened higher but closed lower after a highly volatile session. The market breadth was skewed in the favour of bears.

Overseas investors in Indian equities turned net sellers on Wednesday. Foreign portfolio investors offloaded equities worth Rs 1,119.1 crore, while the domestic institutional investors remained net buyers for the 11th day in a row, mopping up equities worth Rs 1,757.4 crore, according to NSE data.

Rupee continued to fall against U.S. dollar amid a poor show by domestic equities and risk aversion in global markets.

The Singapore-traded SGX Nifty, an early barometer of India's benchmark Nifty 50, was up 0.48% to 18,337.5 at 6:23 a.m.

• Adani Enterprises: Group subsidiary Adani Solar launched India’s first large sized monocrystalline silicon ingot, which can be used to make PV modules with efficiencies ranging from 21-24%.

• Reliance Industries: Reliance Retail Ventures Ltd., a subsidiary of Reliance Industries Ltd., signed definitive agreements to acquire 100% equity stake in METRO Cash & Carry India Pvt Ltd. for a total cash consideration of Rs 2,850 crore, subject to closing adjustments.

• Bharat Forge: The company started supply of forgings utilising green steel in order to reduce carbon footprint.

• Speciality Restaurants: The board approved raising Rs 127.23 crore via issue of 60 lakh warrants convertible at Rs 212.05 each.

• Torrent Pharmaceuticals: The board approved scheme of amalgamation for merger of subsidiary Curatio Health Care into itself.

• JB Chemicals & Pharmaceuticals: The company has completed acquisition of Razel franchise from Glenmark Pharmaceuticals.

• Union Bank of India: The bank considered issued AT-I bonds worth Rs 200 crore with a green shoe option of Rs 580 crore on private placement basis.

• Bandhan Bank: The bank has received a binding bid from an asset reconstruction company worth Rs 801 crore on security receipt consideration basis, for the written-off portfolio with outstanding of Rs 8,897 crore.

• Kalpataru Power Transmission: The Ahmedabad Bench of the National Company Law Tribunal approved the merger of JMC Projects with the company.

• Supriya Lifescience: The company signed an agreement with Pune-based Enrich Energy to develop 4.68 MWp DC solar photovoltaic power project in Nanded, Maharashtra to fulfill about 50% requirement of the company.

• 3M India: 3M India Ltd. will exit per and polyfluoroalkyl (PFAS) substance PFAS manufacturing by the end of 2025. The Company is in the process of assessing the implications for India business. The current annual net sales of manufactured PFAS are approximately Rs 107.74 lakh crore with estimated Ebitda margin of approximately 16%.

• S Chand and Company: Board of the company has approved the sale of the entire 6.05% of stake, on fully diluted basis via its subsidiaries in iNeuron Intelligence Pvt. Ltd. The company owns the stake in iNeuron via its two subsidiaries Vikas Publishing House Pvt. Ltd. and Chhaya Prakashani Ltd.

• Borosil: Trial production of opal ware glass for the additional capacity of 42 tonnes per day, began at the company's Jaipur on December 20, 2022.

• KFin Technologies: The IPO was subscribed 2.59 times on the final day. The QIB portion was subscribed 4.17 times, while the non-institutional investors placed bids for 23% of their portion. The retail portion was subscribed 1.36 times.

• Elin Electronics: The maiden share sale was subscribed 95% on the first day. The QIB portion was subscribed 1%, while the non-institutional investor portion was subscribed 1.29 times. The retail portion was subscribed 1.33 times.

• Sula Vineyards: The company will list its 8.42 crore equity shares of face value Rs 2 will be listed on the exchanges on Dec. 22. The issue price for the IPO was Rs 357 apiece. The maiden share sale was subscribed 2.33 times on the final day. The QIB category was subscribed 4.13 times, the non-institutional investors was subscribed 1.51 times and the retail portion was subscribed 1.65 times.

• Just Dial: Reliance Retail Ventures sold 8.43 lakh shares (1%) at Rs 600 apiece, Reliance Retail Ventures sold 8.43 lakh shares (1%) at Rs 600.02 apiece.

• Max Financial Services: Max Ventures Investment Holdings sold 58.85 lakh shares (1.71%) at Rs 679.2 apiece.

• IRCON International: To meet investors and analysts on Dec. 22.

• GHCL: To meet investors and analysts on Dec. 24.

• Sundram Fasteners: To meet investors and analysts on Dec. 22.

• Price Band Revised From 10% To 5%: Bajaj Hindusthan Sugar 

• Price Band Revised From 20% To 10%: Salasar Techno Engineering

• Ex-Date Extra Ordinary General Meeting: Orchid Pharma

• Ex-Date Buyback: Triveni Turbine, Triveni Engineering & Industries, Kama Holdings

• Ex-Date Bonus: Precision Wires India

• Ex-Date Right Issue of Equity Shares: Quint Digital Media

• Record-Date Right Issue of Equity Shares: Quint Digital Media

• Record-Date Bonus: Sheela Foam, Precision Wires India

• Move Into Short Term ASM Framework: Ugar Sugar Works

• Eureka Forbes

• IFCI

• WPIL: Promoter V.N.Enterprises bought 6,518 shares between Dec. 20 and Dec. 21.

• Vaibhav Global: Promoter CG-Vak Software & Exports bought 4,000 shares on Dec. 20.

• Man Infraconstruction: Promoter Parag K Shah bought 1 lakh shares on Dec. 20.

• Star Cement: Promoter Group Sachin Chamaria sold 22,275 shares, Kamakhya Chamaria sold 12,791 shares and Rahul Chamaria sold 79,043 on Dec. 19.

• Sapphire Foods India: Promoter Sagista Realty Advisors (as Trustee of QSR Management Trust) sold 9,754 shares on Dec. 19.

• Kesoram Industries: Promoter Manav Investment & Trading Company revoked a pledge of one crore shares on Dec. 19. 

• Emami: Promoter Sneha Enclave created a pledge of 14 lakh shares on Dec. 19.

• Rupee closed 0.08% lower against the U.S. dollar at 82.81 on Wednesday, compared to Tuesday’s close of 82.75.

• Nifty December futures ended at 18,277.90, a discount of 146.05 points.

• Nifty December futures rose 1.43% and 2,882 shares in Open Interest.

• Nifty Bank December futures ended at 42,785, a discount of 654.45 points.

• Nifty Bank December futures fell 5.62% and 5,657 shares in Open Interest.

• Securities added to the ban period: Gujarat Narmada Valley Fertilizers And Chemicals, IndiaBulls Housing Finance, India Railways Catering and Tourism Corporation

• Securities removed from the ban period: Delta Corp., Punjab National Bank

• Samvardhana Motherson - Well Placed To Benefit From Easing Supply Issues: Motilal Oswal

• Tanla Platforms - Ready To Take Advantage Of Digital Transformation: Geojit Initiates Coverage

• AMCs - Assets Under Management Growth Versus Yield Balance Will Be Critical For Earnings: ICICI Securities

• Mold-Tek Packaging - Food, FMCG Growth Masked By Seasonal Weakness In Paints: Nirmal Bang

• India Aviation - Operating Parameters Like Daily Passengers, ATF Price, PLFs Improving: ICICI Securities