Stock Market Today: All You Need To Know Going Into Trade On Dec. 19

Asia–Pacific share indices fell on Thursday tracking overnight losses on Wall Street after the US Federal Reserve signaled fewer rate cuts and raised inflation projection. The central bank cut interest rate by 25 basis points to the target range of 4.25%–4.50%.

The Nikkei was trading 1.04% down at 38,675.26 as of 6:40 a.m. as traders await policy decision from the Bank of Japan. The S&P ASX 200 and Kospi were trading 1.79% and 1.59% down, respectively.

On Wednesday, the Dow Jones Industrial Average and S&P 500 ended 2.58% and 2.95% down, respectively. The Nasdaq Composite ended 3.56% down.

The GIFT Nifty was trading 0.19%, or 45.50 points lower at 24,942.00, as of 6:43 a.m.

The benchmark equity indices declined nearly 2% in the last three days as market participants look forward to the policy decisions from the US Federal Open Market Committee. Private bank stocks weighed on the Indian benchmarks the most in the last three sessions.

The NSE Nifty 50 ended 137.15 points or 0.56% lower at 24,198.85 and the BSE Sensex closed 502.25 points or 0.62% down at 80,182.20.

Overseas investors stayed net sellers of Indian equities for the third straight day on Wednesday. Foreign portfolio investors net sold stocks worth Rs 1,316.8 crore, whereas domestic institutional investors were net buyers of equities worth Rs 4,084.1 crore, according to provisional data shared by the National Stock Exchange.

• Bank of Baroda: The company considered and approved raising of Rs 10,000 crore through long-term bonds for financing of infrastructure and affordable housing in single or multiple tranches during financial year 2024-25 and beyond if found feasible. This has come as banks have become more aggressive at tapping into such avenues because of slower deposit growth in the system.

• Interarch Building Products: The company announced strategic partnership with Jindal Steel and Power. The company to use steel as the preferred material for multi-story buildings, data centres, and heavy structures

• FDC: The company received final approval from US FDA for abbreviated new drug application for Cefixime 400 mg tablets. The FDA had inspected the company’s manufacturing facility in Himachal Pradesh.

• Dolphin Offshore Enterprises (India): CEO Krishan Gopal resigned, citing personal and professional reasons.

• Brigade Enterprises: The company announced the launch of Brigade Citrine, India’s first net-zero residential development with an estimated gross development value of Rs 500 crore.

• IOL Chemicals and Pharmaceuticals: The company, in its board meeting on Dec. 27, to consider stock split.

• Gandhar Oil Refinery: The FDA issued establishment inspection report for Taloja manufacturing facility with 'voluntary action indicated' and concluded the inspection is closed.

• Nitco: The company secured a work order worth Rs 105 crore from Prestige Group to supply tiles and marble to Prestige Group’s several real estate projects.

• State Bank of India: SBI appointed Rama Mohan Rao Amara as the managing director for three years.

• Borosil Renewables: The company decided to cancel its proposed rights issue of Rs 450 crore and, instead, approved a plan to raise Rs 600 crore through a preferential issue of equity shares and Rs 100 crore through warrants.

• Infosys: The company inaugurated a new development centre in Kolkata. It will make an investment of Rs 426 crore over 320,000 sq. ft. in Kolkata.

• Swelect Energy Systems: The company to raise up to Rs 139 crore via NCDs on a private placement basis.

• Allcargo Gati: The company reported total volume, including surface and air express, at 102 kt versus 100 kt year-on-year.

• Glenmark Pharmaceuticals: The company has acquired a 34% stake in O2 Renewable Energy XXIV Private.

• Lupin: The company received approval from US FDA for abbreviated new drug application for Emtricitabine and Tenofovir Alafenamide Tablets.

• ITC: The company acquired 2.44% stake of EIH and 0.53% stake of HLV from arm Russell Credit.

• Doms Industries: Fabbrica Italiana Lapis ed Affini announced the launch of a placement of up to 27.7 lakh equity shares of Doms Industries, representing 4.57%. Upon completion of the placement, FILA to reduce stake up to 26.01% from 30.58%.

• Asian Paints: The company’s two senior executives, Shyam Swamy- VP, home decor, services and retailing; and Vishu Goel, associate VP - retail sales, marketing; has quit the company.

• Lloyds Metals: The company to acquire 79.82% stake of Thriveni Earthmovers and Infra for Rs 70 crore and to issue guarantee in relation with Thriveni Earthmovers promoters for Rs 2,500 crore. The company to grant Rs 1,000 crore guarantee for Lloyds Surya.

• Steel Exchange of India: The company to consider raising of funds up to Rs 600 crore through QIP or other means.

• Cummins India: The company approved the appointment of Prasad Kulkarni as Interim CFO effective Jan. 10, 2025.

• Zaggle Prepaid: The company opened QIP and sets floor price at Rs 550.73 per share.

• Vakrangee: The company partnered with Canara Bank to offer banking services.

• Ircon International: The company appointed Alin Roy Choudhury as CFO, effective Jan 1, 2025.

• Indowind Energy: The company approved $30 million issue of overseas new securities and approved raising Rs 50 crore via rights issue shares for expansion.

• Gulshan Polyols: The company’s 250 KLPD plant located at Assam have received a production linked Incentive of Rs 2 per litre of bioethanol initially for three years.

• Sanghvi Movers: The company incorporated a wholly owned subsidiary namely ‘Sanghvi Movers Middle East’ in Saudi Arabia.

• JSW Infrastructure: The company’s arm, JSW Tuticorin Multipurpose Terminal, will avail rupee term-loan facility of Rs 500 crore for the development of North Cargo Berth-III with capacity 6.96 million tonnes per annum.

Enviro Infra Engineer Q2 FY25 (Consolidated, YoY)

• Revenue up 77.8% to Rs 213.01 crore versus Rs 119.79 crore.

• Ebitda up 149% to Rs 55.62 crore versus Rs 22.33 crore.

• Margin at 26.1% versus 18.6%.

• Net Profit up 200% to Rs 36.37 crore versus Rs 12.13 crore

• Transrail Lighting: The company will offer shares for bidding on Thursday. The price band is set from Rs 410 to Rs 432 per share. The Rs 838.91-crore IPO issue is a combination of a fresh issue of Rs 400 crore and rest offer for sale. The company raised Rs 246 crore from anchor investors.

• DAM Capital Advisors: The company will offer shares for bidding on Thursday. The price band is set from Rs 269 to Rs 283 per share. The Rs 840.25-crore IPO issue is entirely an offer for sale. The company raised Rs 251 crore from anchor investors.

• Mamata Machinery: The company will offer shares for bidding on Thursday. The price band is set from Rs 230 to Rs 243 per share. The Rs 179.39-crore IPO issue is entirely an offer for sale. The company raised Rs 53.56 crore from anchor investors.

• Sanathan Textiles: The company will offer shares for bidding on Thursday. The price band is set from Rs 305 to Rs 321 per share. The Rs 550-crore IPO issue is a combination of a fresh issue of Rs 400 crore and rest offer for sale. The company raised Rs 165 crore from anchor investors.

• Concord Enviro Systems: The company will offer shares for bidding on Thursday. The price band is set from Rs 665 to Rs 701 per share. The Rs 500.33-crore IPO issue is a combination of a fresh issue of Rs 175 crore and rest offer for sale. The company raised Rs 150 crore from anchor investors.

• Inventurus Knowledge Solutions: The company's shares will debut on the stock exchange on Thursday at an issue price of Rs 1,329. The Rs 2,497-crore IPO has been subscribed 52.68 times on the final day. The bids were led by qualified institutional investors (45.8 times), non-institutional investors (24.84 times) and retail investors (11.21 times), Portion reserved for employees (20.63 times).

• Shoppers Stop: Amazon.Com Nv Investment Holdings LLC sold 43.95 lakh shares (3.99%) at Rs 627.6 apiece, while Tata Mutual Fund bought 19.12 lakh shares (1.73%), Kotak Mahindra Mutual Fund bought 9.56 lakh shares (0.86%), Morgan Stanley Asia Singapore Pte bought 6.37 lakh shares (0.57%) and many others at Rs 627.6 apiece.

• Vishal Mega Mart: Nomura India Investment Fund Mother Fund bought three crore shares (0.66%) at Rs 108.32 apiece.

• IPCA Laboratories: Usha Madhukar Chandurkar sold 40 lakh shares (1.57%) at Rs 1,501.52 apiece.

• Kilburn Engineering: Aionios Alpha Fund I bought 2.5 lakh shares (0.59%) at Rs 480 apiece.

• Tinna Rubber and Infrastructure: Promoter Bhupinder Sekhri & Sons Huf sold 1.2 lakh shares on Dec. 17.

• Wardwizard Innovations & Mobility: Promoter Garuda Mart India sold 9 lakh shares, Promoter Garuda Mart India sold 13 lakh shares between Dec.16 and 17.

• Moved out short-term ASM: ITI.

• Moved in short-term ASM: Enviro Infra Engineers, Fairchem Organics, Indian Card Clothing.

• Inox India: To meet investors and analysts on Dec. 24.

• Axiscades Technologies: To meet investors and analysts on Dec. 23.

• Safari Industries: To meet investors and analysts on Dec. 23.

• Bectors Food Specialities: To meet investors and analysts on Dec. 23.

• Interarch Building Products: To meet investors and analysts on Dec. 23.

• KRN Heat Exchanger and Refrigeration: To meet investors and analysts on Dec. 26.

• Globus Spirits: To meet investors and analysts on Dec. 23.

• Nifty December futures down 0.61% to 24,268 at a premium of 70 points.

• Nifty December futures open interest down 1.06%.

• Nifty Options Dec. 19 Expiry: Maximum call open interest at 25,500 and maximum put open interest at 24,000. 

• Securities in ban period: Bandhan Bank, Chambal Fertilizers, Granules, Hindustan Copper, Manappuram Finance, National Aluminium, NMDC, PVR Inox, RBL Bank, SAIL.

The Indian rupee weakened by 5 paise to end at a fresh record closing low of 84.95 against the US dollar ahead of the final policy decision by the Federal Reserve. The local currency weakened to 84.96 during the day. It closed at 84.90 on Tuesday.