Stocks To Watch: Wipro, M&M, Ashoka Buildcon, Spandana Sphoorty, Tata Power
Stocks to watch before going into trade today
Fresh concerns about the spread of Covid-19 from China unnerved investors, dragging Asian stocks lower in trade. Australian shares fell and contracts for equity benchmarks in Japan, Singapore and Taiwan dropped.
US shares were lower for a second day on Wednesday after, the S&P 500 slid 1.2% to the lowest level in more than a month. The 10-year Treasury yield climbed and the dollar strengthened.
The crude also fell, declining 1.7%, whereas gold futures dipped 0.8%. Bitcoin declined 0.5% to trade around $16,600-level.
Indian benchmark indices snapped their two-day rally to close in the red, tracking weak performance of their Asian peers.
Overseas investors in Indian equities remained net sellers for the fourth day in a row on Wednesday. Foreign portfolio investors offloaded equities worth Rs 872.6 crore, while the domestic institutional investors remained net buyers for the 16th day in a row and mopping up stocks worth Rs 372.9 crore, according to NSE data.
The rupee closed mostly flat against the U.S. dollar with support from softening crude prices.
At 6:21 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- fell 0.39% to 18,066.5.
Stocks To Watch
Wipro: The company completed the acquisition of remaining 3.3% stake in Encore Theme Technologies.
Mahindra & Mahindra: The company will raise its stake in associate MITRA Agro Equipments to 100% from the current 47.33%.
Tata Power: The company’s subsidiary Tata Power Renewable Energy received the letter of award from Tata Power Delhi Distribution Ltd. for setting up a 255 MW hybrid (wind and solar) power project in Karnataka.
Ashoka Buildcon: The company has been awarded three projects worth Rs 754.57 crore from Madhya Pradesh PoorvKshetra Vidyut Vitaran Company.
Spandana Sphoorty Financial: The company will transfer stressed loan portfolio, including written off loans, worth Rs 323.08 crore to an asset reconstruction company for a consideration of Rs 95 crore.
JSW Energy: The company implemented the NCLT-approved resolution plan for Ind-Barath Energy (Utkal) and acquired the same.
Garware Technical Fibres: The company closed its buyback scheme are buying 2.4 lakh shares at Rs 3,750 apiece.
Listing
KFin Technologies: The shares of the company will be listed on the exchanges on Dec. 29. The issue price of the IPO, which was subscribed 2.59 times, was Rs 366 per share. The Rs-1,500-crore IPO saw 4.17 times subscription in the QIB portion, and 23% subscription from HNIs. The retail portion was subscribed 1.36 times.
Block Deals
Bajaj Finserv: Bajaj Sevashram bought 4.93 lakh shares (0.03%), Rishab Family Trust sold 4.93 lakh shares (0.03%) at Rs 1,528 apiece.
Polyplex Corporation: Bhilangana Hydro Power bought 2 lakh shares (0.64%), Sanjiv Sarita Consulting sold 2 lakh shares (0.64%) at Rs 1,586 apiece.
Who’s Meeting Whom
Praj Industries: To meet investors and analysts on Dec. 29 and Dec. 30.
AGM
Dish TV India
Trading Tweaks
Ex-Date Annual General Meeting: IVRCL
Ex-Date Interim Dividend: Sikko Industries
Ex-Date Bonus: Advait Infratech
Record-Date Face Value Split: Filatex India
Insider Trades
Indo Rama Synthetics India: Promoter Group Devang Kumar sold 1 lakh shares between Dec. 26 and Dec. 27.
Thirumalai Chemicals: Promoter Group S Varadarajan sold 10,000 shares on Dec. 27.
Poonawalla Fincorp: Promoter Rising Sun Holdings bought 43.21 lakh shares between Dec. 26 and Dec. 28.
Emami: Promoter Group Sneha Enclave created a pledge of 8.81 lakh shares on Dec. 23.
Vaibhav Global: Promoter Group Brett Enterprises bought 4,000 shares on Dec. 27.
Texmaco Rail and Engineering: Promoter Group Adventz Finance bought 1 lakh shares on Dec. 23.
Dollar Industries: Promoter Vinod Kumar Gupta sold 2.45 lakh shares and Promoter Group V.K. Mercantile bought 2.45 lakh shares on Dec. 15.
Pledge Share Details
Sun Pharma Advanced Research Company: Promoter Group Raksha Valia created a pledge of 19 lakh shares on Dec. 26.
Gensol Engineering: Promoter & Director Anmol Singh Jaggi created a pledge of 2.56 lakh shares on Dec. 27.
Chambal Fertilisers & Chemicals: Promoter Group Simon India revoked a pledge of 1.3 lakh shares and Master Exchange & Finance revoked a pledge of 7 lakh shares on Dec. 26.
F&O Cues
Nifty December futures ended at 18,113.65, a discount of 24.35 points.
Nifty December futures fell 28.76% and 36,485 shares in Open Interest.
Nifty Bank December futures ended at 42,783, a discount of 69.80 points.
Nifty Bank December futures fell 33.68% and 16,605 shares in Open Interest.
Securities added to the ban period: Balrampur Chini Mills, IndiaBulls Housing Finance
Securities removed from the ban period: Punjab National Bank
Research Reports
Indian Markets Continue To Show Resilience, Persistence, Strength: Dolat Capital
Chalet Hotels - Right Time To Check-In: Prabhudas Lilladher Initiates Coverage
United Spirits - Hopeful Of Inflationary Pressures Abating From Q4: Nirmal Bang
Undercurrents In Cement Industry; Stick To Fundamentals Says Nirmal Bang