Stock Market Today: All You Need To Know Going Into Trade On Dec. 23

Asian equities opened lower on Friday amid a downbeat tone in the markets owing to a slump in U.S. technology stocks and more economic data justifying case for the Federal Reserve to keep raising the interest rates.

Shares fell in Japan, South Korea and Australia while Hong Kong futures and an index of US-listed Chinese companies dropped.

Meanwhile, the S&P 500 closed down 1.5% and the tech-heavy Nasdaq 100 declined 2.5%, with sentiment battered by a bleak outlook from chipmaker Micron Technology Inc.  

U.S. stocks reversed gains as investors grappled with data that established Federal Reserve’s claims of the economy being robust enough to stand further tightening.

The dollar was steady against most of its major counterparts Friday after edging higher Thursday as the policy-sensitive two-year Treasury yield climbed to 4.27%.  Treasuries were little changed in early Asian trading. Australian and New Zealand government bond yields rose.

Crude fell 0.7%, while gold futures declined 1.3%. Bitcoin dropped 1.2% to trade around $16,600-level.

India benchmark indices pared their gains from opening trade and closed lower at the end of a volatile session. All 20 sectoral indices compiled by BSE Ltd. closed in red.

Rupee snapped its losing run against the U.S. dollar, rising as much as 0.21% to 82.64, and closing higher.

At 6:44 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- fell 0.61% to 18,067.

• Reliance Industries: Indian Oil Corporation has selected the company’s telecom arm Reliance Jio Managed Network Services for retail automation and critical business processes at its retail outlets. Reliance Projects and Property Management Services, a wholly owned subsidiary of the company, acquired 100% stake ion Reliance Infratel. Reliance Projects & Property Management Services, another subsidiary of the company, acquired 23.3% stake in robotics company Exyn Technologies for $25 million.

• Yes Bank: The bank transferred invoked shares of seven companies identified as stressed assets to JC Flowers ARC.

• Rail Vikas Nigam: The company has won the contract worth Rs 198.93 crore by Gujarat Metro Rail Corporation for construction of Bhesan depot cum workshop for Surat Metro Rail Project Phase-1.

• NTPC: The company signed an MoU with GE Power India to reduce carbon intensity at the former’s coal fired units.

• Lupin: The company recalled four lots of Quinapril tablets in the U.S. market due to potential presence of a nitrosamine impurity.

• Ingersoll-Rand (India): The board of the company approved setting up a new manufacturing plant in Gujarat to increase the manufacturing capacity of the existing products and as well as manufacture new products.

• GAIL (India): The Life Insurance Corporation of India increased its stake in the company to 6.833% from 4.815%.

• Info Edge (India): The Life Insurance Corporation of India increased its stake in the company to 5.008% from 4.988%.

• RailTel Corporation of India: The company has received an order worth Rs 98.56 crore from Webel Technology Limited for acting as system integrator for capacity enhancement of West Bengal State Data Centre at Monibhandar, Kolkata.

• Granules India: The board appointed Mukesh Surana as chief financial officer, with effect from Dec. 30, 2022. It also approved the proposal to incorporate a wholly owned subsidiary for setting up a greenfield facility to manufacture green chemicals.

• Adani Ports and Special Economic Zone: The company’s subsidiary Adani Logistics entered a joint venture agreement with DA Group and its affiliates to explore opportunities in warehousing business.

• GR Infraprojects: The company received a completion certificate for construction of eight lane access-control expressway carriageway from Miyati village to Madhya Pradesh-Gujarat border under the Bharatmala project.

• PNC Infratech: The company’s subsidiaries Hathras Highways Pvt. Ltd. and Yamuna Highways Pvt. Ltd. have received financial closure on completion of Gaju Village to Devinagar bypass and Mathura Bypass to Gaju Village projects.

• NLC India: The Unit-I of Neyveli New Thermal Power Station run by the company suffered a fire incident and was subsequently closed.

• IDFC First Bank: The bank clarified that it is in discussion with Vaya Finserve for possible buyout of their loan receivables in accordance with relevant RBI master direction.

• Biocon: The company has received a Good Manufacturing Practice Certificate of Compliance by the European Directorate for the Quality of Medicines & HealthCare for its API manufacturing facility in Bengaluru.

• Elin Electronics: The IPO was subscribed 3.09 times on the final day. The QIB portion was subscribed 4.51 times, while the non-institutional investor portion was subscribed 3.29 times. The retail portion was subscribed 2.2 times.

• Radiant Cash Management Services: The maiden share sale of the company will open on Dec. 23 and close on Dec. 27. The retail cash management firm is looking to raise Rs 387.9 crore through the IPO, which includes fresh issue of shares worth Rs 60 crore and an offer for sale worth Rs 327.9 crore. The price band for the issue has been fixed at Rs 94-99 per share.

• Abans Holdings: The shares of the company will be listed on the exchanges on Dec. 23. The issue price for the IPO was Rs 270 per share, and it was subscribed 1.1 times. Institutional buyers placed bids for 4.1 times the basket size reserved for them, whereas the HNIs subscribed 1.48 times their portion. The retail portion was subscribed 40%.

• Landmarks Cars: The premium car dealer will list its share on the exchanges on Dec. 23. The IPO price was 506 apiece. The issue was subscribed 3.06 times on the final day. The QIB basket was subscribed 8.71 times, whereas the portion for non-institutional investors was subscribed 1.32 times. The retail was subscribed 59%, while the employees basket was subscribed 2.93 times.

• Ajanta Pharma: ABS Direct Equity Fund LLC-India Series 1 bought 21,356 shares (0.02%), Abu Dhabi Investment Authority-Way 1.74 lakh shares (0.14%), Aditya Birla Sun Life Mutual Fund bought 5.01 lakh shares (0.39%), Al Mehwar Commercial Investments LLC-Whiting bought 67,313 shares (0.05%), Ashoka India bought 2.24 lakh shares (0.18%), Caisse De Depot Et Placement Du Quebec - White Oak Capital Partners 29,086 shares (0.02%), Franklin Templeton bought 6.79 lakh shares (0.53%), Grandeur Peak bought 10.27 lakh shares (0.8%), ICICI Prudential Mutual Fund bought 10.86 lakh shares (0.85%), India Acorn Fund bought 20,776 shares (0.02%), Mirae Asset Mutual Fund bought 1.29 lakh shares (0.1%), Nippon India Mutual Fund bought 7.15 lakh shares (0.56%), Tata AIA Life Insurance Company bought 3.23 lakh shares (0.25%), Teachers' Retirement System of the state of Illinois bought 72,121 shares (0.06%), Templeton Global Investment Trust - Templeton Emerging Markets Small Cap Fund bought 1.18 lakh shares (0.09%), UTI Mutual Fund 3.05 lakh shares (0.24%), Aayush Agrawal Trust sold 38.54 lakh shares (3.01%), Ravi Agrawal Trust sold 16.39 lakh shares (1.28%) at Rs 1,160.1 apiece.

• Balkrishna Paper Mills: MSPL sold 61,374 shares (0.03%) at Rs 47.68 apiece.

• Madras Fertilizers: Saravana Stocks bought 8.6 lakh shares (0.53%) at Rs 75.48 apiece.

• Rama Steel Tubes: Parikh Bharatbhai Suresh HUF bought 5 lakh shares (0.57%) at Rs 160.5 apiece.

• Sula Vineyards: Jupiter India Fund bought 6.32 lakh shares (0.75%) at Rs 361 apiece, Goldman Sachs India Equity Portfolio bought 6.96 lakh shares (0.83%) at Rs 351.48 apiece.

• Meghmani Finechem: To meet investors and analysts on Dec. 23.

• Ex-Date Annual General Meeting: Dhanlaxmi Bank, Equippp Social Impact Technologies, Fedders Electric and Engineering, SKIL Infrastructure, Viceroy Hotels, Dharani Sugars & Chemicals, Sical Logistics

• Ex-Date Extra Ordinary General Meeting: Mittal Life Style

• Record-Date Buy Back: Triveni Engineering & Industries, Triveni Turbine

• Rashtriya Chemicals & Fertilizers

• Indo Rama Synthetics India: Promoter Group Devang Kumar sold 50,000 shares on Dec. 21.

• Jindal Saw: Promoter Group Global Vision Trust bought 200 shares on Dec. 19.

• Supreme Petrochem: Promoter Group Venktesh Investment And Trading Company bought 1,768 shares on Nov. 1.

• TVS Srichakra: Promoter Group Mr R Haresh on behalf of Sundaram Trust bought 10,462 shares between Dec. 21 and Dec. 22.

• Vaibhav Global: Promoter Group Brett Enterprises bought 4,000 shares on Dec. 21.

• Divi's Laboratories: Promoter Group Divi Madhusudana Rao sold 3,000 shares in Dec 21.

• Man Infraconstruction: Promoter Parag K Shah bought 50,000 shares on Dec. 21.

• Ajanta Pharma: Promoter Ravi Agrawal, Trustee Ravi Agrawal Trust created a pledge of 6.45 lakh shares on Dec. 21.

• Rupee closed 0.07% higher against the U.S. dollar at 82.76 on Thursday, compared to Wednesday’s close of 82.81.

• Nifty December futures ended at 18,159.30, a discount of 116.60 points.

• Nifty December futures fell 2.22% and 4,535 shares in Open Interest.

• Nifty Bank December futures ended at 42,422.85, a discount of 342.5 points.

• Nifty Bank December futures fell 4.45% and 4,224 shares in Open Interest.

• Securities added to the ban period: IndiaBulls Housing Finance

• Securities removed from the ban period: Gujarat Narmada Valley Fertilizers And Chemicals, India Railways Catering and Tourism Corporation

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