Scan to Download
PCA framework applies to
All Deposit Taking NBFCs (Excluding Government Companies)
All Non-Deposit Taking NBFCs in Middle, Upper and Top Layers
Excludes NBFCs not accepting/not intending to accept public funds; Government Companies, Primary Dealers and Housing Finance Companies.
Source: RBI Release
"Markets consolidated in a range and ended marginally lower, in continuation to the previous session’s fall. Weak global cues triggered a gap down start however mixed trends across the sectors capped the movement thereafter", Ajit Mishra, VP - Research at Religare Broking Ltd. wrote in a note. He added, "participants are maintaining a cautious stance ahead of the US Fed meeting outcome, which is scheduled on December 15 and we may see a similar trend on Wednesday as well. On the benchmark front, a decisive fall below 17,150 in Nifty would further fuel the negative bias. We reiterate our view to limit leveraged positions and maintain positions on both sides".
Shares of Natco Pharma rose over 3% to Rs 912.05 apiece after the company approved the acquisition of Dash Pharmaceuticals LLC, U.S., through its subsidiary company.
Cash consideration for the acquisition $18 million.
Dash Pharma expected to have net sales of $15 million for the year ending December 2021.
Source: Exchange Filing
Shares of Raymond Ltd. rose as much as 7.64% to Rs 708.4 apiece after the company said it will consider and approve the issuance of non-convertible debentures aggregating to Rs 100 crore on a private placement basis, on December 17.
Relative strength on the stock is 74, suggesting it may be overbought. Trading volume on the stock was 1.9 times the 30-day average volume, for this time of the day.
Shares of cooking appliances maker Stove Kraft Ltd. rose as much as 2.68%, the biggest intraday gain in four sessions, to Rs 980 apiece after rating agency ICRA Ltd. reaffirmed the long-term and short-term credit rating of the company. ICRA has revised the outlook from 'stable' to 'positive' as well.
All five analysts tracking the company maintained 'buy' recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 28.5%.
Shares of IRCON International Ltd. rose over 2% in intraday trade to Rs 47.6 apiece after the company emerged as the lowest bidder for highway construction project in Punjab for Rs 1,107 crore. The completion period of the project is two years. The work will be executed by a Special Purpose Vehicle, which shall be incorporated by IRCON as its wholly-owned subsidiary.
Trading volume on the stock was 2.5 times the 30-day average volume, for this time of the day. Shares of IRCON International rose above the 50-day simple moving average in today's session, indicating potential upward price momentum.
In a separate exchange filing on Monday, Greenlam Industries announced entry into plywood and particle board business. The company intends to invest Rs 950 crore over 2-3 years to set up third laminate plant. Greenlam Industries' said that the venture into plywood and particle board segment is to utilise the rising demand in wood panel segment. The investments in laminate plant will be done under Greenlam South Ltd, a 100% subsidiary based in Andhra Pradesh. Greenlam expects to commence the commercial production of plywood and laminate by Q4FY23 and particle board by Q4FY24.
Of the eight analysts tracking the company, six maintained 'buy', one maintained 'hold' and one maintained 'sell' recommendations. The overall consensus price of analysts tracked by Bloomberg implied a downside of 19.2%.
Infosys Ltd. has been selected by Finland-based Orion Corporation to transform its ERP and planning platforms, enhance employee experience and drive business value realisation, the company said in an exchange filing.
Infosys will adopt best SAP practices to enable end-to-end visibility across Orion's operations, reduce business operations cost through AI, ML and robotic process automation (RPA).
Source: Exchange Filing
Bank focussing on fully-digitised on-boarding of corporate customers
Also pushing mobile-first proposition for SMEs
Talking to corporate clients about capital expenditure, which will pan out over 9-12 months
Adopting an ecosystem approach to drive business to customers associated with the corporate clients
Axis Bank seeing large capex demand from renewables sector, says Rajiv Anand, deputy managing director, Axis Bank
Also seeing demand from roads, ports, speciality chemicals
Customers have also been able to deploy capex through internal accruals as they have been deleveraging their balance sheets
Private capex demand in FY22-23 will be larger than what we saw in the last 3-5 years
Banks talking to RBI for extension on moratorium for corporate loans restructured under first Covid restructuring scheme, says Rajiv Anand, DMD, Axis Bank
Banks are currently discussing the proposition with RBI
Axis Bank not seeing the need for such an extension for its own restructured loans
Source: Axis Bank press briefing
BLOOMBERG EXCLUSIVE
Gautam Adani's realty unit Adani Realty is in advanced talks to take over Ozone group, at an enterprise value of $1 billion.
Adani Realty seeks to take over Bengaluru-based Ozone, which has an outstanding debt of Rs 6,000 crore.
Source: People familiar with the matter
A spokesman of Adani Group declined to comment.
The S&P BSE MidCap underperformed its larger peers shedding 0.71% while the S&P BSE SmallCap remained little changed.Eleven of the 19 sectoral indices compiled by BSE Ltd. declined with S&P BSE Realty index falling over 1%.
The market breadth was skewed in the favour of bulls. About 1,685 advanced, 1,513 declined and 134 remained unchanged.
Can Fin Homes Ltd. declared an 'interim dividend' of Rs 1.5 per equity face of face value Rs 2 each for the financial year 2021-22.
The company has declared December 24 as the record date to determine the list of eligible members for the payment of interim dividend.
The interim dividend shall be credited before December 31.
Source: Exchange Filing
WPI Inflation Spikes To 14.2% In November
Shares of TTK Prestige rose 7.85% in intraday tradeto hit a record Rs 1,264.65 before erasing the gains.
Trading volume was 73.5 times the 30-day average volume, for this time of the day.
The company approved sub-division of equity shares of the company from face value of Rs 10 each into Rs 1 each. The stock split goes effective from today.
Of the 11 analysts tracking the company, seven maintained 'buy', two maintained 'hold' and two maintained 'sell' recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 1.3%.
Nitin Savara has been appointed as deputy Chief Financial Officer of the company
Anjalli Ravi Kumar appointed as Chief Sustainability Officer.
Neither of them designated as a key managerial personnel.
Source: Exchange Filing
MedPlus Health IPO Subscription: Day 2 Live Updates
Metro Brands IPO Subscription Status: Day 3 Live Updates
Data Patterns IPO Subscription Status: Day 1 Live Updates
Most yields along the India sovereign yield curve fell, with 3-year bonds moving the most in Tuesday morning trading.
The 1-year yield rose 0.8bps to 4.286%
The 10-year yield fell 0.6bps to 6.365%
The 30-year yield was little changed at 6.962%
The 1-year-10-year yield spread was 207.9bps, vs previous close 209.3bps
Source: Bloomberg
Aditya Birla Fashion & Retail shares jump after company approves the acquisition of exclusive online and offline rights of 'Reebok' for Indian market.
Approval also given to purchase certain assets of Reebok India Company.
The cost of acquisition is estimated to be between Rs 75 crore and Rs 100 crore.
Source: Exchange Filing
Minda Industries raised to 'buy' from 'hold' at Systematix Shares & Stocks; price target at Rs 1,220.
Source: Bloomberg
Lupin Shares Jump 10% As U.S. FDA Report Paves Way For Fresh Approvals From Goa Unit
The construction arm of Larsen & Toubro secured a large order for its buildings and factories business from the Government of Odisha.
The order pertains to the construction of clinical blocks & allied infrastructure for a state-of-the-art hospital in Cuttack.
The duration of this project is 30 months.
L&T classifies large order to be in the range of Rs 2,500 crore-Rs 5,000 crore.
Of the 42 analysts tracked by the company, 40 maintained 'buy', one maintained 'hold' and one maintained 'sell' recommendation. The overall consensus price of analysts tracked by Bloomberg implied an upside of 17.9%
Anand Rathi Wealth Lists At 9% Premium On Market Debut
Power Grid Shares Gain As Analysts Rank It Among India's Renewable Shift Winners
Anand Rathi Wealth pre-market discovery price at Rs 602.05 apiece.
Source: Bloomberg
The S&P BSE MidCap almost mirrored its larger peers shedding 0.5% while the S&P BSE SmallCap ourperformed, with 0.2% fall. Thirteen of the 19 sectoral indices compiled by the BSE Ltd. declined with S&P BSE Finance shedding nearly 1%.
The market breadth was skewed neither in the favour of bulls nor bears. About 1,177 stocks advanced, 1,195 declined and 106 remained unchanged.
This is the world's largest ever green power purchase agreement
Agreement is part of a manufacturing-linked solar tender of 8,000 MW awarded to Adani Green in June 2020.
Source: Exchange Filing
Sun Pharmaceutical Industries Ltd. has been accused in a lawuit by WG Critical Care and ACB Dobfar's InfoRLife in the U.S. District Court for Delaware, of patent infringement. The case relates to a generic version of a sedative used during treatment in critical care setting.
The two companies have seeking a court order to block the copies of its product while case proceeds and until patent has expired, as per the complaint. The patent expires in June 2038.
Source: Bloomberg, Court Filings
Axis Capital Ltd. initiates coverage of Max Healthcare Institute Ltd. with a 'buy' recommendation; price target at Rs 465.
Source: Bloomberg
CPI Inflation Rises To A Three-Month High In November
Company approved the issue and allotment of 8.72 crore shares to 21 qualified institutional buyers at the issue price on Rs 68.75 per share, on December 10.
Trading of the newly allotted equity shares commences from today.
Source: Exchange Filing
Data Patterns IPO: All You Need To Know
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
