In Asia, most indices fell as global markets await US CPI data. At 7:03 a.m., Australia's ASX 200 traded 0.5% lower, Japan's Nikkei fell 0.1%, CSI 300 was flat, but Kospi traded 0.8% up.
In US, S&P 500 closed down 0.30% at 6,034.91, Dow Jones fell 0.35% to close at 44,247.83, and Nasdaq Composite was down 0.25% at 19,687.24.
At 7:06 a.m., GIFT Nifty was at 24,678.00, up by 17 points or 0.07%.
The benchmark equity indices ended on a muted note on Tuesday after declining for the past two sessions. The NSE Nifty 50 closed 8.95 points or 0.04% down at 24,610.05, while the BSE Sensex settled 1.59 points up at 81,510.05. During the day, the Nifty declined as much as 0.44% to 24,510.65 and the Sensex fell 0.40% to 81,182.69.
Overseas investors remained net buyers of Indian equities on Tuesday for the second consecutive session, while domestic institutional investors turned net buyers after a day of selling. Foreign portfolio investors bought stocks worth approximately Rs 1,286 crore, while the DIIs mopped up stocks worth Rs 605.8 crore, according to provisional data shared by the National Stock Exchange.
The Indian currency weakened by 12 paise to close at a record closing low of 84.85.
Stocks To Watch
NTPC Green Energy: The company's arm, NTPC Renewable Energy, received a 500-megawatt solar power contract in the SECI auction. The contract provides 500 MW of solar power capacity at a tariff of 3.52 KWh.
LTIMindtree: The company announced a strategic partnership with GitHub. This collaboration integrates GitHub’s advanced DevOps and AI-driven pair programming capabilities with LTIMindtree’s expertise in digital engineering and AI transformation, creating a powerful ecosystem to drive enterprise innovation at scale.
PNC Infratech: The company completed four lanes of a national highway in Uttar Pradesh.
Saakshi Medtech and Panels: The company received a letter of business award worth Rs 250 crore from Mahindra & Mahindra for the supply of EV panels, which includes a three-year guarantee and warranty.
BEML: The company received an order worth Rs 83 crore from the Ministry of Defence for the supply of a 50-tonne trailer.
Triveni Engineering & Industries: The company approved composite scheme of arrangement among Triveni Engineering and Industries, Sir Shadi Lal Enterprises and Triveni Power Transmission.
Awfis Space Solutions: Investors to sell up to 12.2% stake in the company via a block deal. The sellers include Bisque Ltd., Link Investment Trust, and promoter Peak XV Partners Investments V. The floor price is set at Rs 680 which is 5% discount on Tuesday's closing price. The deal value for the block deal is Rs 583.4 crore.
Vraj Iron and Steel: The company received consent to operate the company expansion project of Sponge Iron and Power Plant located in Chhattisgarh from the Chhattisgarh Environment Conservation Board.
Hinduja Global Solutions: The company's step-down arm approved to merge five arms with itself.
Blue Jet Healthcare: The company completed the commission of the production block at Ambernath Unit II.
Infosys: The company announced a collaboration with four innovative STEM organizations. This collaborative effort aims to expand access to cutting-edge STEM education and career pathways for Indiana students.
HG Infra Engineering: The company received a letter of acceptance worth Rs 763 crore from the Ministry of Road Transport and Highways.
Karnataka Bank: The company introduced a retail assets centre to grow the retail assets business.
JSW Steel: The company received a GST demand order worth Rs 64 crore from Belagavi division for alleged GST non-payment on upfront and monthly payments for mining rights from July 2017 to 2019.
Bharat Heavy Electricals: The company received a demand order of Rs 30.6 lakh from Maharashtra sales tax authorities.
Life Insurance Corp, Asian Paints: LIC increases stake in Asian Paints from 5.001% stake to 7.010%.
Reliance Infrastructure: The company incorporated Reliance EV Go as a wholly owned subsidiary of arm Reliance Velocity to manufacture, buy, and sell electronic vehicles.
Royal Orchid Hotels: The company announced the signing of a new Regenta property in Pune, Maharashtra.
Kellton Tech Solutions: The company secured a $2.5 million project from Oil India Ltd. to transform well-head monitoring.
Asian Granito India: The company entered into a JV agreement with Shudh Investments and Klyn Stone of the UK to acquire shares of Klyn AGL.
Allied Blenders and Distillers: The company signed a definitive agreement for the acquisition of Minakshi Agro Industries. Post acquisition, Minakshi Agro becomes a wholly owned subsidiary of the company.
Indian Overseas Bank: The company received an income tax order worth Rs 1,359 crore for AY 16.
Adani Ports and Special Economic Zone: The firm has opted out of US DFC funding for its Sri Lankan port project. It said it will use its own resources to fund the project.
IPO Offering
Vishal Mega Mart: The company will offer shares for bidding on Wednesday. The price band is set from Rs 74 to Rs 78 per share. The Rs 8,000-crore IPO issue is entirely an offer for sale.
Sai Life Sciences: The company will offer shares for bidding on Wednesday. The price band is set from Rs 522 to Rs 549 per share. The Rs 3,042-crore IPO issue is a combination of fresh issue of Rs 950 crore and rest offer for sale. The company raised Rs 912 crore from anchor investors.
One Mobikwik Systems: The company will offer shares for bidding on Wednesday. The price band is set from Rs 265 to Rs 279 per share. The Rs 572-crore IPO issue is entirely a fresh issue. The company raised Rs 257 crore from anchor investors.
Bulk Deals
Syngene International: Biocon sold 80 lakh shares (1.98%) at Rs 857.68 apiece.
Gateway Distriparks: Wisdomtree India Earnings Fund bought 29.28 lakh shares (0.58%) at Rs 87.9 apiece.
India Pesticides: Delta Capital Investment-Fzco bought 10.13 lakh shares (0.88%) at Rs 190 apiece.
Jeena Sikho Lifecare: Manish Grover sold 5.73 lakh shares (5.67%) at Rs 2,314.11 apiece, while Sixteenth Street Asian Gems Fund bought 4.99 lakh shares (4.94%) at Rs 2,313 apiece.
Mold-Tek Packaging: Wisdomtree India Ex Stateowned Enterprises Fund bought 2.3 lakh shares (0.69%) at Rs 730.87 apiece.
Insider Trades
Paisalo Digital: Promoter Equilibrated Venture Cflow Pvt. bought 7.39 lakh shares on Dec. 9.
Jindal Stainless: Promoter Jsl Overseas Holding bought 4.96 lakh shares between Dec. 5 and Dec. 9.
Pledge Share Details
Oriental hotels: Promoter D Karthik Reddy created a pledge for 19,200 shares on Dec. 6.
Salasar Techno Engineering: Promoter Alok Kumar sold 11.7 lakh shares between Dec. 4 and 5, promoter Shikhar Fabtech sold 29.84 lakh shares on Dec. 4 and Dec. 6, promoter Alok Kumar Huf sold 2 lakh shares on Dec. 5. Promoter Shikhar Gupta sold 7.8 lakh shares between Dec. 5 and Dec. 6.
Trading Tweaks
Ex/record AGM: Hardwyn.
Moved into short-term ASM: Borosil Renewables, ITI.
Moved out short-term ASM: Godavari Biorefineries, Ashapura Minechem, Man Infraconstruction.
Who's Meeting Whom?
Indoco Remedies: To meet investors and analysts on Dec. 17.
Kross: To meet investors and analysts on Dec. 13.
Alkem Laboratories: To meet investors and analysts on Dec. 16, 17 and 19.
Fineotex Chemical: To meet investors and analysts on Dec. 17.
Entero Healthcare Solutions: To meet investors and analysts on Dec. 16.
HDFC Bank: To meet investors and analysts on Dec. 16.
F&O Cues
Nifty November futures down by 0.04% to 24,684 at a premium of 74 points.
Nifty November futures open interest down by 0.43%.
Nifty Options Dec. 12 Expiry: Maximum call open interest at 26,000 and maximum put open interest at 24,000.
Securities in ban period: Granules, Manappuram, Metropolis Healthcare, PVRInox, RBL Bank.
Money Market Update
The Indian rupee weakened by 12 paise to close at a record closing low of 84.85 against the US dollar on Tuesday. During the day, the rupee weakened by 13 paise to a fresh record low of 84.86 against the US Dollar during the trade after it opened lower on Tuesday.
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