All You Need To Know Going Into Trade On December 3
Asian stocks were mixed Friday as traders evaluated risks from the omicron virus strain, while Treasury yields pared a climb spurred by Federal Reserve comments about a quicker reduction in stimulus.
Equities fluctuated in Japan, fell in South Korea and rose in Australia. China and Hong Kong face headwinds: Chinese shares traded in the U.S. slid over the risk of delisting for flouting disclosure rules.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index's performance, shed 0.46% to 17,364.50 as of 7:20 a.m.
Treasury yields dipped, retracing some of their jump in the U.S. on Thursday. Fed officials laid out the case for a faster removal of policy support amid high inflation. The dollar was steady.
Crude was higher after OPEC+ proceeded with an output hike but left room for quick adjustments.
Stocks To Watch
Reliance Capital: RBI has initiated insolvency proceedings against the company. The central bank has filed insolvency application at Mumbai bench of NCLT. Interim moratorium will commence from date of filing till admission/rejection.
Biocon: Biocon Pharma, a subsidiary of the company, received approval of its ANDA for Mycophenolic Acid from the U.S. FDA.
Unichem Laboratories: The company has received ANDA approval for its Aripiprazole Tablets USP from the U.S. FDA.
Bharti Airtel: The company has given a clarification on report of talks to buy stake in Dish TV. As a matter of policy, we do not comment on media speculation or reports, Bharti Airtel said. The company evaluates various opportunities of restructurings, alliances or acquisitions and other similar avenues as per its requirements in the ordinary course of business.
NHPC: To consider the proposal regarding monetisation of Return on Equity of one power station of the company through securitisation for suitable tenure on December 7.
Apollo Pipes: Crisil Ratings has upgraded the long-term credit rating of bank loan facilities-- of Rs 180.2 crore-- of the company to A/stable and short-term rating to A1.
India Tourism Development Corporation: Ministry of Tourism has appointed Sambit Patra as part time non-executive director and chairman of the company for three years.
Sona BLW Precision Forgings: India Ratings & Research has upgraded the company's long-term issuer rating to AA from AA- and the outlook is stable.
Delta Corp: Waterways Shipyard, an associate company of Delta Corp, to acquire 50% stake in WSPL Containers for Rs 5 crore. The acquisition is expected to be completed by December 31.
DCB Bank: The bank has revised Marginal Cost of Funds based Lending Rate across tenors. It has also revised its Base Rate to 10.50% per annum from the earlier Base Rate of 10.64% p.a. The revised rates will be applicable with effect from December 6, 2021.
Hindustan Zinc Board: To consider interim dividend on December 7; the record date for eligibility for interim dividend will be December 15.
Offerings
Star Health and Allied Insurance Co.'s IPO was subscribed 79% on the final day.
The Rs 619-crore initial public offering of Tega Industries was subscribed 13.87 times on the second day.
Anand Rathi Wealth IPO was subscribed 1.6 times on the first day.
Pledge Share Details
Chambal Fertilisers & Chemicals: Promoter Zuari Global revoked pledge of 5.60 lakh shares between November 29-30.
Cholamandalam Financial Holdings: Promoter Lakshmi Ramaswamy Family Trust created a pledge of 1.25 lakh shares on November 29.
Emami: Promoter Sneha Enclave created a pledge of 1.76 lakh shares on November 30.
Swan Energy: Promoter Dave Impex created a pledge of 51 lakh shares on November 30.
Wockhardt: Promoter Themisto Trustee Company created a pledge of 4 lakh shares on November 30.
As reported on December 2.
Bulk Deals
Redington (India): Marina IV (Singapore) Pte sold 54.40 lakh shares at Rs 150.42 per share.
Kirloskar Oil Engines: Franklin Templeton Mutual Fund India Taxshield Open bought 10 lakh shares (0.69%) at Rs 180 per share. Franklin Templeton Mutual Fund India Prima Plus bought 30 lakh shares (2.07%) at Rs 180 per share. Nalanda India Fund sold 52 lakh shares (3.60%) at Rs 180.92 per share.
Karda Constructions: Societe Generale bought 36 lakh shares (0.59%) at Rs 16.65 per share.
Insider Trades
Aditya Birla Capital: Promoter Birla Group Holdings bought 3.87 lakh shares on November 26.
Bajaj Holdings & Investment: Promoters (Bachhraj & Company and Bachhraj Factories) bought 1.14 lakh shares between November 29-December 1.
Bajaj Auto: Promoter Maharashtra Scooters bought 30,000 shares on December 1.DB Realty: Promoter Vinod Goenka HUF bought 10,000 shares on December 1.
Grasim Industries: Promoter IGH Holdings bought 3 lakh shares between November 26-30.
Lincoln Pharmaceuticals: Promoters (Ashish Patel, Jigar Patel and Aniruddh Patel) bought 70,500 shares between November 30-December 1.
Meghmani Finechem: Promoters (Maulik Patel, Ashishbhai Soparkar, Patel Karana and Meghjibhai Patel) bought 41,309 shares on December 1.
Shoppers Stop: Promoter Neel Raheja bought 20,000 shares on November 30.
Star Cement: Promoter Prem Bhajanka bought 42,560 shares on November 29.
Who's Meeting Whom
Nuvoco Vistas Corporation: To meet Principal Mutual Fund and DAM Capital on December 3.
Puravankara: To meet India Capital Fund, Old Bridge Capital Management, Premji Invest, Tata Mutual Fund and Value Quest Investment Advisors on December 3.
Kalyan Jewellers India: To meet Rare Enterprises on December 6.
Adani Green Energy: To meet equity research analyst on December 6-7.
Accelya Solutions India: To meet Nirmal Bang Securities on December 7.
IIFL Finance: To meet Motilal Oswal AMC on December 7.
Trading Tweaks
Ex-Date Bonus Issue: Indian Energy Exchange
Move Into Short-Term ASM Framework: PNB Housing Finance, Aurionpro Solutions
Money Market Update
The rupee ended at 74.99 against the U.S. Dollar on Thursday as compared to Wednesday's closing of 74.91.
F&O Cues
Nifty December futures ended at 17,439.90; a premium of 38.25 points.
Nifty December futures added 0.51% and 1,206 shares in Open Interest.
Nifty Bank December futures ended at 36,655; a premium of 146.75 points.
Nifty Bank December futures shed 4.09% and 4,048 shares in Open Interest.
Securities in the ban list: Indiabulls Housing Finance
Securities added to the ban list: Vodafone Idea
Top Research Reports
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
