IPOs, Key Economic And Industrial Data Incoming This Christmas: The Week Ahead
The upcoming week starting Dec. 23 will see the IPO market stay busy along with significant economic and industrial data releases from major global economies.
The coming week is set to be a flurry of activity based on the key economic and industrial data that is awaited. In the primary market, there is also a wide array of IPOs open this week while some major global economic decisions are expected this week.
On the global front, UK GDP is expected to be released on Monday, Dec. 23. The Bank of Japan is set to address the Keidanren council, which is an economic organisation of Japan's industrial associations. The Tokyo CPI data is also expected this week along with other industrial data from Japan, China and Singapore.
The week was bustling with activity in the primary market with 12 IPOs open for subscription. IPOs like Mamata Machinery, DAM Capital Advisors, Transrail Lighting and Concord Enviro were fully subscribed. To add to the flurry, Unimech Aerospace IPO is also set to open on Dec. 23.
Markets This Week
A recap first. The Nifty fell 4.38%, and the Sensex fell 4.53%. The benchmark equity indices ended at the lowest in over a month on Friday and recorded the worst week in months as a hawkish outlook from the US Federal Reserve rattled global markets across the globe. The market cap of the Nifty 50 companies declined Rs 2.9 lakh crore to Rs 186.97 lakh crore, according to data on the NSE.
The Fed reduced the repo rate by 25 basis points to 4.25 from 4.50% after its two-day policy meeting on Wednesday. It raised the inflation and economic growth outlook. This also lowered the rate-cut projection to 50 basis points in 2025 as compared to 100 basis points earlier.
Global Cues
Indicators that reflect growth and other elements have an impact on the economy and markets. Multiple countries are expected to release key data this week.
On Monday, Dec. 23, Singapore will release their CPI data for November. Singapore’s inflation likely picked up to 1.9% year on year in November from 1.4% in the previous month. This can be buoyed by base effects for fuel-sensitive goods and services. While Spain, along with the UK, is also set to release their GDP data. Taiwan will announce the industrial production and jobless rate on Monday.
On Tuesday, Dec. 24, the new home sales data is awaited from the US.
On Wednesday, Dec 25, all stock markets across the world will remain closed on account of Christmas. The industrial production data from Russia is set to be announced on Wednesday. The Bank of Japan Governor Kazuo Ueda will also address the Keidanren council. This is an economic organisation of Japan's industrial associations and the regional economic organisations.
On Friday, Dec. 27, Japan's industrial production data for the month of November is expected. Japan’s industrial output likely decreased in December due to a downswing in the output of high value-added products. China's industrial profits for the previous month will also be announced, and the decline in China’s industrial profits is likely to be deepened. For November alone, the estimated year-on-year fall in profits may ease to about 6%.
Tokyo will also announce their CPI data on Friday as well. Tokyo’s core inflation, excluding fresh food, is expected to climb to 2.5% year on year in December. The US initial jobless claims are also expected along with Singapore's industrial production numbers. A South Korean court will hold a preliminary hearing on impeachment on Friday as well.
Primary Market Action
The IPO market will be buzzing in the coming week, with offerings scheduled in both the mainboard and SME space.
Mainboard IPOs
The Mamata Machinery IPO will close on Monday, Dec. 23, along with the Concord Enviro IPO. DAM Capital Advisors, which was open from Dec. 19, will also close on Monday. The Sanathan Textiles IPO, along with Transrail Lighting, also closes on Dec. 23. The Senores Pharmaceuticals IPO also opens on Dec. 24 along with the Ventive Hospitality IPO. Carraro India IPO, which was open from Dec. 20, will also close on Tuesday. Unimech Aerospace IPO will open on Dec. 23.
SME IPOs
In the SME space, there are three IPOs that are open for the week. Newmalayalam Steel IPO opening on Dec. 19 will close on Monday, Dec. 23. Anya Polytech IPO opening on Dec. 26 and will close on Dec. 30. While Solar91 Cleantech IPO that opens on Dec. 24 and will be open till Dec. 27.
Corporate Action
Some big company names have some announcements lined up. Vedanta Ltd. is set to announce their interim dividend of Rs 8.5 on Dec. 26. Mazagon Dock Shipbuilders Ltd. on Dec. 27 is also set to announce their stock split from Rs 10 to Rs 5. While Anupam Finserv Ltd. will be announcing their right issue of equity shares on Dec. 27. Some companies are also announcing their bonus issues and holding extraordinary general meetings. Check the full list below:
