Stock Market Today: All You Need To Know Going Into Trade On Dec. 12

Most indices in Asia rose, tracking Nasdaq Composite hitting its record high after November US inflation data. At 7:32 a.m., Japan's Nikkei rose 1.5%, Hong Kong's Hang Seng and China's CSI 300 rose 0.1% each, while South Korea's Kospi was 0.6% up. Australia's ASX 300 was trading 0.1% down.

In US, S&P 500 closed up 0.82% at 6,084.19, Dow Jones was down 0.22% at 44,148.56, and Nasdaq Composite rose 1.77% to close at 20,034.89.

At 07:32 a.m., GIFT Nifty traded at 24,745.50, down by 21 points or 0.1%.

The NSE Nifty 50 snapped its three-session fall, and the BSE Sensex rose for the second consecutive day on Wednesday as traders await inflation data from the US later in the day and from India a day later. The Nifty ended 31.75 points, or 0.13%, higher at 24,641.8, and the Sensex closed 16.09 points, or 0.02%, up at 81,526.14.

Overseas investors turned net sellers of Indian equities on Wednesday after two consecutive days of selling, while domestic institutional investors remained net buyers for the second consecutive session. Foreign portfolio investors offloaded stocks worth Rs 1,012.24 crore, while the DIIs mopped up stocks worth Rs 2,007.85 crore, according to provisional data shared by the National Stock Exchange.

The Indian currency closed flat at 84.84 against the US dollar.

• Godawari Power: The company has entered into a seven-year agreement with GAIL (India) to supply RLNG gas for the company's upcoming pellet plant.

• Electronics Mart India: The company has commenced the commercial operations of a new multi-brand store under Bajaj Electronics.

• Greaves Cotton: The board approved the offer to sell certain equity shares of Greaves Electric Mobility held by the company in the proposed IPO.

• ACME Solar Holdings: The company secured the 250 MW FDRE Project W Firm & Dispatchable Renewable Energy in the e-reverse auction held by NHPC today at a tariff of Rs 4.56 per unit. The project includes a greenshoe option that could potentially expand its total capacity from the initial 250 MW to 500 MW. With this latest win, Acme Solar’s total capacity now stands at 6,970 MW.

• Aurobindo Pharma: The company’s arm allotted 2,041 shares to Satakami Makkapati on a preferential basis. Post the allotment, the arm continues as a subsidiary of the company.

• Bharat Forge: The company completed tranche I investment in the acquisition of shares in SPVs of Sunsure Energy and its arms.

• Sammaan Capital: The company approved the raising of funds, up to an aggregate amount of Rs 2,500 crore, through QIP.

• Tata Chemical: Allied Silica and its promoter filed a statement of claims against the company in arbitration proceedings. The company expected a favourable outcome and no material financial impact.

• Pilani Investment And Industries Corporation: The company submitted the application with RBI for conversion of the company from NBFC to core investment company.

• Happiest Minds Technologies: The company arm PureSoftware has strengthened its position in the digital lending space with its flagship banking-as-a-service platform, Arttha.

• Hyundai Motor: The company received an income tax tribunal order worth Rs 22 crore for the financial year 2008. The company is alleged to have made royalty payments more than industry practice, enforcing transfer pricing adjustment.

• Vedanta: The company will consider the fourth interim dividend on Dec. 16.

• PC Jeweller: The company will issue preferential equity shares worth Rs 1,509.97 crore to its lenders on a private placement basis to settle part of their outstanding debts. The company will issue 5.17 crore shares to the consortium lenders under the non-promoter and public category at an issue price of Rs 292 per share.

• Strides Pharma Science: Shareholders are to receive one Onesource share for every two shares in the company.

• Reliance Power: The company arm Reliance NU Suntech received a 930 MW solar energy contract with a battery energy storage system project from the Solar Energy Corporation of India in an e-reverse auction. Reliance NU Suntech will also have to install a minimum storage capacity of 465 MW/1,860 MWh charged by solar power.

• United Drilling Tools: The company received an order worth Rs 149 crore from Vedanta.

• Varroc Engineering: The Singapore Tribunal passed an order in the matter between Varroc TYC Corp and Beste Motors Company. The Varroc engineering team transferred a 50% stake in Varroc TYC Corp to Beste Motors for RMB 310.5 million.

• Waaree Energies: The company’s arm received a letter of award for the development of a 170 MW solar power plant in Madhya Pradesh from Rewa Ultra Mega Solar. The solar power plant will enable the generation and transmission of clean energy via the Inter-State Transmission System. The project will supply renewable energy to Madhya Pradesh Power Management Company and Indian Railways.

• Veranda Learning Solutions: The company approved a proposal to raise up to Rs 250 crores through a preferential issue. The purpose of the funds raised will be directed towards acquisitions, repayment of existing NCDs, deferred consideration payouts, and expanding and growing the company’s existing business operations.

• Embassy Office Parks REIT: The company approved the issuance of NCD up to Rs 1,000 crore.

• Afcons Infrastructure: The company’s JV with Hindustan Project has been declared as the lowest bidder, worth Rs 503 crore, for the Water Supply Project under the Jal Jeevan Mission with operating and maintenance for 10 years from the Government of Rajasthan.

• Gopal Snacks: The company said that a significant fire accident took place at one of its production units in Gujarat. The reason for the fire is yet to be ascertained.

• Gland Pharma: The company received approval from the US FDA for Phytonadione Injectable Emulsion USP, 10 mg/mL Single Dose Ampules.

• Grasim Industries: The board approved the issuance of NCDs on a private placement basis for an amount not exceeding Rs 2,000 crore in one or more tranches.

• AMI Organics: The company has approved an enhancement in capital expenditure amounting to a total cost of Rs 177 crores for its brownfield project focused on electrolyte additive products at the Jhagadia facility. This increase is attributed to the additional expenditure required for building dedicated ancillary infrastructure, which includes transforming manual operations into fully automated systems, as well as constructing dedicated utilities and storage and packaging facilities.

• Karur Vysya Bank: The company inaugurated four new branches today.

• Steel Exchange of India: The board will consider raising funds through QIP or other means on Dec. 18.

• IRFC: The company received a GST demand of Rs 231 crore from the Tamil Nadu Government for FY21.

• Indian Overseas Bank: The company received an income tax refund order worth Rs 808 crore for AY14.

• Hindustan Unilever: The Board approved Vivek Mittal as Executive Director, Legal and Corporate Affairs, effective March 2025.

• Power Grid Corporation of India: “Augmentation of ISTS for Interconnection of HVPNL Transmission Schemes,” a project by the company, has been commissioned with effect from Oct. 6, for which notification for commercial operation was received on Dec. 10.

• Yes Bank: RBI appointed Manish Jain as Executive Director of the Bank for three years.

• Shriram Finance: The company announced the successful completion of the sale of its entire stake in its housing finance subsidiary, Shriram Housing Finance, to Warburg Pincus, for a sale consideration of Rs 3,929 crores.

• Vishal Mega Mart: The public issue was subscribed to 0.51 times on day 1. The bids were led by non-institutional investors (1.11 times), retail investors (0.53 times), and qualified institutional investors (0.03 times).

• Sai Life Sciences: The public issue was subscribed to 0.84 times on day 1. The bids were led by qualified institutional investors (2.62 times), retail investors (0.18 times), and non-institutional investors (0.15 times).

• One Mobikwik Systems: The public issue was subscribed to 7.32 times on day 1. The bids were led by retail investors (26.75 times), non-institutional investors (8.98 times), and qualified institutional investors (0.02 times).

• Inventurus Knowledge Solutions: The company will offer shares for bidding on Thursday. The price band is set from Rs 1,265 to Rs 1,329 per share. The Rs 2,497.92-crore IPO issue is entirely an offer-for-sale issue.

• Valor Estate: Saltoro Alpha LP bought 16.22 lakh shares (0.3%) at Rs 179.15 apiece, while Copthall Mauritius Investment sold 16.22 lakh shares (0.3%) at Rs 179.15 apiece.

• Awfis Space Solutions: PEAK XV PARTNERS INVESTMENTS V sold 26.75 lakh shares (3.81%), and BISQUE sold 31.81 lakh shares (4.5%) at Rs 709.9 apiece. While Invesco Mutual Fund bought 10.84 lakh shares (1.55%), Aditya Birla Sun Life Insurance Company bought 9.71 lakh shares (1.38%), and Ashoka Whiteoak ICAV—Ashoka Whiteoak India Opportunities Fund bought 9.15 lakh shares (1.3%), and many others at Rs 709.9 apiece.

• Pitti Engineering: Akshay Sharad Pitti sold 2.85 lakh shares (0.88%) at Rs 1405.64 apiece.

• Vaishali Pharma: Nishant Pitti bought 2.87 lakh shares (2.43%) at Rs 19.64 apiece.

• Wardwizard Innovations & Mobility: Promoter Yatin Sanjay Gupte created a pledge for 3.75 lakh shares on Dec. 6.

• Steel Exchange India: Promoter Umashiv Garments Private Limited created a pledge for 1.46 crore shares on Dec. 9.

• Moved into short-term ASM: Greaves Cotton, Kernex Microsystems.

• Moved out short-term ASM: Orient Technologies, Apeejay Surrendra Park Hotels. Siyaram Silk Mills, Tolins Tyres.

• Kamat Hotels: To meet investors and analysts on Dec. 16.

• Kaynes Technology: To meet investors and analysts on Dec. 17.

• Le Travenues Technology: To meet investors and analysts on Dec. 16.

• Welspun Corp: To meet investors and analysts on Dec. 16.

• Syngene International: To meet investors and analysts on Dec. 16.

• Uflex: To meet investors and analysts on Dec. 16 and 17.

• Nifty December futures up by 0.22% to 24,738 at a premium of 97 points.

• Nifty December futures open interest down by 0.74%.

• Nifty Options Dec. 12 Expiry: Maximum call open interest at 25,000 and maximum put open interest at 24,000. 

• Securities in ban period: Granules, Hindustan Copper, Manappuram, Metropolis Healthcare, PVRInox, RBL Bank.

The Indian rupee closed flat at 84.84 against the US dollar on Wednesday. It also opened flat at 84.85. The currency had weakened by 12 paise to close at a record closing low of 84.85 against the US dollar on Tuesday.

This marks the continuation of a downward trend that began earlier in the week, after the rupee closed at a low of 84.73 against the greenback on Monday.

During trading hours on Tuesday, the rupee had dropped another 13 paise to a fresh all-time low of 84.86, reflecting market concerns. The rupee’s struggle against the dollar has been a significant talking point, especially after a period of slight positive momentum last week.

Last week, the currency mirrored some optimism led by the Reserve Bank of India maintaining a steady interest rate and introducing measures aimed at boosting market liquidity. Last Friday, the rupee had strengthened by 3 paise to close at 84.7, offering a brief respite.