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At 3:30 p.m., futures contract of Dow Jones rose 0.1%, that of S&P 500 rose 0.2%, and Nasdaq 100 rose 0.3%.
US: Empire State Manufacturing Index — 7:00 p.m.
US: Flash Manufacturing PMI — 8:15 p.m.
US: Flash Services PMI — 8:15 p.m.
Market breadth was skewed in the favour of buyers. As many as 2,338 stocks rose, 1,802 fell, and 100 remained unchanged on the BSE.
The NSE Nifty 50 and BSE Sensex ended lower on Monday.
The NSE Nifty Metal declined the most. It ended 0.97% down at 9,347.75
The NSE Nifty Realty was the best performing sector. It ended 3.10% higher at 1,18.65.
The NSE Nifty Midcap 150 ended 0.69% higher at 21,898.80.
The NSE Nifty Smallcap 250 ended 0.44% higher at 18,344.00
NBCC (India) Ltd. has received multiple construction orders worth ₹489.6 crore, according to an exchange filing.
India Pesticides Ltd. has stated that the Income Tax Department carried out a search at its registered office and other premises, with the company and its employees fully cooperating with the authorities, according to an exchange filing.
Prudential Sugar Corp has entered into an Memorandum of Understanding with the Rajasthan government for a proposed investment of Rs 450 crore, according to an exchange filing.
RBL Bank Ltd. has re-appointed R. Subramaniakumar as chief executive officer and managing director, effective from June 23, 2025, according to an exchange filing. Subramaniakumar got three–year extension.
Jindal Worldwide will consider a proposal for the bonus issue of shares on January 7, 2025, according to an exchange filing.
Alphageo (India) Ltd. has received a work order worth ₹119 crore from ONGC for the 2D seismic data, according to an exchange filing.
Insolation Energy has approved a proposal from the Madhya Pradesh government for the allotment of 45 acres of land, intended for the establishment of a manufacturing facility for solar PV modules, solar cells, and aluminum frames. The company will receive a capex subsidy of up to 40%, among other benefits, in line with its aspirations of achieving $1 billion in revenue. The proposed facility will include 3GW solar cell manufacturing, 4GW solar module manufacturing, and 24,000MT aluminum frame manufacturing, with an investment of Rs 1,800 crore planned for the new project.
Best Agrolife Ltd. has been granted a 20-year patent by the government for its invention titled "Synergistic Pesticidal Composition," according to an exchange filing.
November Wholesale Prices Rise 1.89% Vs 2.36% In October
November Wholesale Food Prices Rise 8.63% (YoY)
November Fuel, & Power Prices Fall 5.83% (YoY)
November Primary Article Prices Rise 5.49% (YoY)
November Manufactured Product Prices Rise 2% (YoY)
Caplin Point Laboratories Ltd.'s arm has received US Food And Drug Administration's approval for Difluprednate Ophthalmic Emulsion, according to an exchange filing.
Gopal Snacks Ltd. has temporarily halted operations at its fire-hit plant. The company scaled up production at other manufacturing facilities and engaged third-party manufacturers to boost supply. As of December 16, the company has restored about 50% of its supply levels, according to an exchange filing.
Royal Orchid Hotels has strengthened its religious tourism portfolio with the launch of Regent Hotel Dwarka, according to an exchange filing.
Senores Pharma's IPO is set to open on Dec 20 and close on Dec 24, according to Bloomberg.
Bharat Global Developers has successfully completed the Rs 300 crore Fluidized Catalytic Cracker project for Reliance Industries, according to an exchange filing.
Seamec Ltd.'s vessel has been hired by Mermaid Subsea Services for operations in the Kingdom of Saudi Arabia for 50 days, generating $3.46 million, according to an exchange filing.
Bitcoin reached an all-time high on Sunday evening, surpassing the $106,000 mark, as investors eagerly await the Federal Reserve’s anticipated interest rate decision later this week. The cryptocurrency’s rally comes just 10 days after it crossed the $100,000 threshold on Dec. 5, marking a significant milestone in its recent upward trajectory.
Read the full article here.
JSW Energy Ltd. has secured multiple renewable energy projects in the Commercial & Industrial power market, achieving a total locked-in generation capacity of 20 GW.
Glenmark Pharmaceuticals Ltd. US has introduced Lacosamide Oral Solution, 10 mg/mL, according to an exchange filing.
Market breadth was skewed in favour of buyers. Around 2,212 stocks advanced, 769 stocks declined, and 164 stocks remained unchanged on BSE.
The yield on the 10-year bond opened flat at 6.73%. It closed at 6.73% on Friday, according to data Bloomberg.
At pre–open, the NSE Nifty 50 was trading 0.04% down at 24,753.40, and the BSE Sensex was 0.16% down at 82,000.31.
Rupee weakened by 4 paise to open at 84.83 against the US Dollar. It closed at 84.79 on Friday, according to data on Bloomberg.
Nomura on India Cement: Prefers Ultratech Cement, Shree Cement, Ambuja Cement & Ramco Cement (All Rated Buy)
Average Q3FY25 cement spreads rise to Rs 2447/tonne amid flat prices & lower fuel costs
Expect industry to keep reaping benefits of the low-cost fuel in H2FY25
Cement prices in Dec so far up Rs 5/bag MoM; prices in Q3 up by Rs 2/bag
Brokerage bullish on long term tailwinds despite recent correction in stocks
Key tailwinds for sector: Higher volume growth, lower operating costs
Sector trades at only 14% premium to year 3 year historical avg valuations
Neutral rating maintained on Nuvoco Vistas Corp, ACC, Reduce rating on Dalmia Bharat
Initiates Buy with a target price of Rs 640, which implied a 20% upside.
Presents a compelling investment opportunity
Believes q-com market Gross order value to touch $6.8 billion FY25E
Pickup in quick food delivery through ‘Bolt’ would be a further kicker
Profitability sees improvement; quick fixes should aid margin expansion
Expects a 38% revenue CAGR (FY24-27E)
Maintain Neutral, Target: Rs 1,815, downside 7.8%
Hosted Nitin Mohta, Head IR
80% of HCLT’s US workforce is visa-independent
HPE CTG acquisition is focused on expanding its telecom client base
Focus is to improve the revenue growth from low single-digit to mid-to-high single-digit growth
Near term, HCLT expects low single digit revenue growth yoy trajectory to continue, in Products segment.
Maintain Sell, Target: Rs 1,475, downside 18.1%
Hosted Atul Soneja, COO
Tech Mahindra Ltd. aims to improve margins to 15%, primarily through gross margin improvement
Key margin levers are – pyramid improvement, pricing optimization
Other levers include reducing subcontracting costs, improving utilization rates
Maintain Sell, Target: Rs 3,935, downside 12.1%
Hosted Nehal Shah, Head IR
Optimism has increased after the US elections, with clients expressing positive sentiment
However, actual execution is on hold pending policy clarity
Estimate TCS’s earnings will grow at an ~5.5% CAGR in FY24-26E
Cost optimization efforts have helped deliver relative good margin performance.
On Friday, stock gauges on Wall Street ended on a mixed note. The Dow Jones Industrial Average ended 0.20%, and S&P 500 ended flat. The Nasdaq Composite ended 0.12% higher.
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