Stock Market Today: All You Need To Know Going Into Trade On Dec. 17

Markets in South Korea were trading in red as political uncertainties in the nation continue to weigh on investors' sentiments. Most markets in Asia-Pacific markets were trading higher ahead of the Federal Reserve policy outcome.

The Kospi was 0.72% down. The Nikkei 225 and S&P ASX 200 was 0.60% and 0.79% higher, respectively as of 06:33 a.m.

On Monday, the Dow Jones Industrial Average ended 0.25% down. The S&P 500 and Nasdaq Composite ended 0.38% and 1.24% higher, respectively.

Brent crude was trading 0.78% down at $73.91 a barrel as of 4:29 a.m., according to Bloomberg. Gold spot price was 0.11% higher at $2,655.53 an ounce as of 6:36 a.m.

The GIFT Nifty was trading 0.10% and 24.50 points down at 24,659.00 as of 6:39 a.m.

The benchmark equity indices ended lower on Monday, weighed down by information technology and metal stocks, as well as losses across the Asia–Pacific after mixed data from China.

The NSE Nifty 50 closed 100.05 points or 0.4% lower at 24,668.25 and the BSE Sensex ended 384.55 points or 0.47% down at 81,748.57.

Overseas investors and domestic institutional investors turned net sellers of Indian equities on Monday after a day of buying.

Foreign portfolio investors offloaded stocks worth Rs 278.7 crore, whereas the DIIs offloaded stocks worth Rs 234.3 crore, according to provisional data shared by the National Stock Exchange.

• Hindustan Petroleum: The board approved the lube modernization and bottoms upgradation project at Mumbai refinery. It will increase the production of lube oil base stocks from 475 kilotonnes per annum to 764 KTP through the manufacture of Group 11+ and Group III LOBS. The estimated cost of this project is Rs 4,679 crore.

• Indus Tower: The Income Tax Appellate Tribunal ruled in favour of the company on denial of depreciation on assets received under merger, disallowance of provision for expenses, amortisation of Asset Retirement Obligation, provision for SLA Credit. This is a significant positive outcome for the company and will result in a reduction of Rs 3,500 crore in contingent liability.

• Shriram Properties: Promoter acquired 5.2 lakh shares of Shriram Properties Holdings from another promoter Shriram Group Executive Welfare Trust. The promoter now holds 48.47% stake in Shriram Properties Holdings.

• Texmaco Rail and Engineering: The railway freight cars manufacturing company received an order worth Rs 187 crore for construction transmission lines on turnkey basis from Chhattisgarh. The project involves building nine 132-kilowatt transmission lines on a turnkey basis of nearly 291 kilometres in Chhattisgarh.

• Kellton Tech Solutions: The company to consider raising funds via QIP or other means on Dec. 19.

• Vedanta: The company approved the fourth Interim dividend of Rs 8.5 per equity share for the financial year 2024-25 amounting to Rs 3,324 crore. The board fixed Dec. 24 as the record date for the purpose of dividend payment.

• Patanjali Foods: The company commenced commercial production at Niglok Palm Oil Processing Mill in Arunachal Pradesh, with palm fruit crushing capacity of 5 MTs per hour.

• Allcargo Terminals: The company CFS volumes were 47.7 TEUs, lower by 4% sequentially, up by 1% year-on-year in November.

• JK Tyre & Industries: The company received GST order demand for Rs 13 lakh with interest and penalty of Rs 7.2 crore.

• HCC: The company opens qualified institutional placement and it has set the floor price at Rs 45.27 per share.

• Everest Industries: CFO Pramod Nair resigned effective Jan. 10.

• Speciality Restaurants: The company has launched Bizarre Asia in Kolkata effective from Dec. 16.

• Happiest Minds Technologies: The company's US-based arm merged Aureus Tech Systems with itself effective Dec 14.

• Gravita: The lead producing firm announced the launch of its Rs 750-crore qualified institutional placement and sets floor price at Rs 2,206.49 apiece.

• Abbott India: CFO Sridhar Kadangode resigned effective Feb. 26.

• Nitco: The company secured a new order for supply of tiles, marble and mosaic worth Rs 105 crore from Prestige Estates Projects. The order is to be completed within six months.

• GMR Airports: The company's total airport passenger traffic was up 14% year-on-year at 1.12 crore. Aircraft movements rose 8% year-on-year to 69,540.

• Religare Enterprises: The company’s material subsidiary Care Health Insurance received show cause notice from the Insurance Regulatory and Development Authority of India. According to Care Health Insurance, it is in the process of ensuring that the directions in the advisory letter are complied with. The firm added that it will furnish its reply to the show-cause notice along with the supporting documents.

• Wipro: The company has signed an agreement to acquire 100% stake in Applied Value Technologies, Applied Value Technologies B.V. and Applied Value Technologies Pte for $40 million.

• Protean eGov Technologies: The company’s arm NSDL E-Governance (Malaysia) has been dissolved. The dissolution of this subsidiary will not affect the revenue or business of the company as the subsidiary did not undertake any business since its incorporation.

• PNB Gilts: Vikas Goel has resigned from the position of Managing Director and CEO citing personal reasons.

• Railtel Corp: The company received a work order worth Rs 37.99 crore for SITC of CCTV from Central Warehousing Corp. The order needs to be completed by May 16, 2025.

• Varun Beverages: The company acquired 39.93% stake in Lunarmech.

• Rail Vikas Nigam: It received letter of acceptance worth Rs 270 crore from Maharashtra Metro Rail Corp. The order involves the construction of elevated metro stations at various places across Nagpur.

• Inventurus Knowledge Solutions: The public issue was subscribed to 52.68 times on day three. The bids were led institutional investors (80.64 times), non-institutional investors (23.25 times), retail investors (14.55 times), employee reserved (5.2 times).

• International Gemmological Institute (India): The public issue was subscribed to 0.72 times on day two. The bids were led by employee reserved (6.7 times), retail investors (2.44 times), non-institutional investors (0.83 times), institutional investors (0.09 times).

• Mangalam Cement: Pilani Investment and Industries Corp. sold 4.5 lakh shares (1.63%) at Rs 927 apiece, while Vidula Consultancy Services Ltd. bought 4.5 lakh shares (1.63%) at Rs 927 apiece.

• Pitti Engineering: Promoter Akshay S Pitti (Revised) sold 1.18 lakh shares on Dec. 13.

• Cosmo First: Promoter Gayatri and Annapurna through partner Ashok Jaipuria sold 8 lakh shares on Dec. 12.

• Price Band change from 20% to 10%: Siyaram Silk Mills.

• Ex/record dividend: Styrenix Performance Materials.

• Moved in short-term ASM: Ashapura Minechem, Centum Electronics, Nelco.

• Moved out short-term ASM:  Manba Finance, PIX Transmissions.

• V-Mart Retail: To meet investors and analysts on Dec. 19 and Dec. 23.

• Inox India: To meet investors and analysts on Dec. 20.

• Ceigall India: To meet investors and analysts on Dec. 19.

• Advanced Enzymes Technologies: To meet investors and analysts on Dec. 19.

• Can Fin Homes: To meet investors and analysts on Dec. 20.

• Afcons Infra: To meet investors and analysts on Dec. 18.

• Titan: To meet investors and analysts on Dec. 19 and Dec. 23.

• Nifty December futures down by 0.45% to 24,720 at a premium of 52 points.

• Nifty December futures open interest up by 0.19%.

• Nifty Options Dec. 19 Expiry: Maximum call open interest at 26,000 and maximum put open interest at 24,000. 

• Securities in ban period: Granules, Hindustan Copper, Manappuram Finance, National Aluminium, RBL Bank, SAIL.

The Indian rupee closed weaker on Monday, ahead of major central banks' rate decisions this week. The currency weakened by eight paise to close at 84.87 against the US Dollar. It had closed at 84.79 on Friday.