All You Need To Know Going Into Trade On December 7
Most Asian stocks rose at the open Tuesday after U.S. equities rebounded and China pledged measures to support slowing economic growth. Treasuries steadied after tumbling.
Equity benchmarks advanced in Japan and Australia, while South Korea was little changed. U.S. stock futures fluctuated. The S&P 500 wiped out last week's losses, while the technology-heavy Nasdaq 100 also gained, aided by receding concerns about the severity of the omicron virus variant.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index's performance, rose 0.54% to 17,032.50, as of 7:00 a.m.
Alibaba Group Holding Ltd. led a rebound in Chinese tech firms listed in the U.S., after the company announced a management shakeup.
The U.S. treasury yields rose sharply Monday, erasing most of Friday's steep declines, amid corporate bond offerings. The curve steepened, reversing a trend in which expectations for Federal Reserve rate increases had buoyed short-dated yields. The dollar was steady and oil surged.
Stocks To Watch
IDFC: Board approves draft scheme of amalgamation. IDFC Alternatives Ltd., IDFC Trustee Company Ltd. and IDFC Projects Ltd. proposed to be merged with IDFC Ltd. for streamlining of corporate structure and to focus on operating businesses.
Tata Motors: Company to raise commercial vehicle prices in the range of 2.5%.
Wipro: Launched a supply chain command center solution in partnership with Celonis.
GHCL, Indo Count Industries: GHCL to sell home textiles business to Indo Count for Rs 576 crore. GHCL has also approved the scheme of demerger of its spinning business.
GSS Infotech: Acquires 100% of Indian “farm to store” company Polimeraas, with a combination of stock and cash at a valuation of Rs 250 crore.
Route Mobile: Company's wholly-owned subsidiary, Routesms Solutions acquires Interteleco International for Modern Communication Services, Kuwait.
Vedanta: Company extends the date by which holders can surrender their ADSs to the Depositary in exchange for the underlying equity shares of the company from Dec. 8 to Jan. 10, 2022.
Bajaj Auto: Incorporates wholly owned subsidiary by the name of Bajaj Auto Consumer Finance Ltd.
Sobha: Long term rating of A+ and short term rating of A1 reaffirmed and withdrawn by CRISIL.
Karnataka Bank: Partners with Toyota Kirloskar Motor Pvt. Ltd. to extend retail vehicle finance support to its customers.
InterGlobe Aviation: Company has received a joint requisition from IGE Group and RG Group, who collectively hold 74.44% of the paid-up equity share capital of the Company, to convene an Extraordinary General Meeting of the for removing the Transfer Restriction Articles from the Articles of Association of the Company. EGM to be held on Dec. 30.
Ujjivan Small Finance Bank: Appoints Ittira Davis as CEO for three years.
Indian Oil: Rosneft signs deal to supply as much as two million tons of crude to company in 2022.
Reliance Capital's Insolvency: NCLT admits RBI's application.
Castrol India: Company, BP ink jv extension pact with Vietnam's Petrolimex.
HCL Technologies: Plans to create 12k jobs in U.S. in next five-years.
IL&FS Transportation: To sell 85.5% stake in Moradabad Bareilly.
Indo Count Industries: Buys home textile business of GHCL valued at Rs 576 crore.
Offerings
SEBI approves the IPO proposals of Sterlite Power (pure fresh issue) and ESDS Software (offer-for-sale + fresh issue)
Anand Rathi Wealth IPO subscribed 9.78 times on final day.
RateGain Travel Technologies' Rs 1,335.7-crore IPO opens today.
Pledge Share Details
Kalpataru Power Transmission: Promoter group Kalpataru Constructions Pvt. Ltd. created a pledge of 1.42 lakh shares on Dec. 1. Promoter group Kalpataru Properties Pvt. Ltd. created a pledge of 1.25 lakh shares on Dec. 1. Promoter group K C Holdings Pvt Ltd. revoked a pledge of 2.67 lakh shares on Dec. 3.
Insider Trades
Shoppers Stop: Promoter Neel Raheja bought 16,623 shares between Dec. 2 and 3.
Bajaj Auto: Promoter Maharashtra Scooters Ltd. bought 8,000 shares on Dec. 3.
Star Cement: Promoter Sajjan Bhajanka bought 1.04 lakh shares between Nov. 30 and Dec. 3.
Who's Meeting Whom
GMM Pfaudler: Met Ambit Investment Advisors at the Emerging Giants Virtual Conference on Dec. 6.
Balrampur Chini Mills: To meet Capital Group and Habrok Capital on Dec. 7, East Lane Capital on Dec. 9
Matrimony.com: To meet Ambit Investment Advisors at the Emerging Giants Virtual Conference on Dec. 8.
Finolex Industries: To meet Edelweiss Broking on Dec. 10.
Eicher Motors: To meet Wellington Management on Dec. 7 and Coronation Fund Managers on Dec. 8.
JM Financial: Met Antique Stock Broking Ltd. on Dec. 6.
FSN E-Commerce Ventures: To meet Macquarie Capital Securities (India) Pvt. Ltd. at the 12th Edition of India Conference on Dec. 8.
Nuvoco Vistas: To meet Myriad Asset Management Ltd., Anand Rathi Investment Services and Quantum Mutual Fund on Dec. 7.
EIH: To meet IDFC Mutual Fund on Dec. 7.
State Bank of India: Met with Wellington lnvestment Management on Dec. 6.
Trading Tweaks
Price Band Changed From 10% To 20%: Affle, Aditya Birla Money, Ansal Housing, Coffee Day Enterprises, Emami Realty, Equitas Holdings, Future Enterprises, Gateway Distriparks, Gujarat Alkalies and Chemicals, HFCL, IIFL Securities, Newgen Software Tech, Parsvnath Developers, Reliance Communications.
Price Band Changed From 5% To 10%: Adani Green Energy, Almondz Global Securities, Barbeque Nation Hospitality, Globus Spirits, Poonawalla Fincorp, Reliance Home Finance.
Moved From Long-Term ASM Framework Stage 2 To 3: Tata Teleservices Maharashtra.
Move Into Short-Term ASM Framework: Mindteck (India).
Money Market Update
The rupee ended at 75.42 against the U.S. Dollar on Monday as compared to Friday's closing of 75.17.
Analyst Actions
Piramal Enterprises rated 'new buy' at Jefferies; price target: Rs 3,050
F&O Cues
Nifty December futures ended at 16,950; a premium of 37.75 points.
Nifty December futures added 2.72% and 6,143 shares in Open Interest.
Nifty Bank December futures ended at 35,892.95; a premium of 157.05 points.
Nifty Bank December futures added 4.46% and 4,436 shares in Open Interest.
Securities in the ban list: Indiabulls Housing Finance
Securities removed from the ban list: Vodafone Idea
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