Stocks in News
Uniparts India: The company will make its debut on bourses on December 12. The issue price is fixed at Rs 577 per share.
Bharti Airtel: After receipt of notice for conversion of FCCBs of principle value of $8.6 million from certain holders of FCCBs, the board members have approved the allotment of 11.88 lakh equity shares at a conversion price of Rs 521 per share to such FCCBs holders.
PTC India Financial Services: The company said the board of directors has sanctioned additional loans of Rs 800 crore to various borrowers. The company is committed to perform better in coming quarters to achieve sustainable growth.
Himatsingka Seide: The board of directors of the company will meet on December 15 to consider fund raising up to Rs 108 crore. They will also consider an issue of non-convertible debentures up to Rs 500 crore, to identified investors.
PSP Projects: The company has received a letter of intent from Nila Spaces for civil constriction of residential project “VIDA” at GIFT City Gandhinagar, Gujarat. The construction order is worth Rs 121.51 crore. With this, the total order inflow for the financial year 2022-23 till date amounts to Rs 1,833.09 crore.
Apar Industries: HDFC Mutual Fund sold 1 lakh shares in the company via open market transactions on December 7. With this, the fund house shareholding in the company reduced to 6.78%, from 7.04% earlier.
Kalpataru Power Transmission: The company has raised Rs 99 crore by allotment of 990 NCDs of the face value of Rs 10 lakh each on private placement basis. The said NCDs will be listed on wholesale debt market segment of BSE
Uniparts India: The company will make its debut on bourses on December 12. The issue price is fixed at Rs 577 per share.
Bharti Airtel: After receipt of notice for conversion of FCCBs of principle value of $8.6 million from certain holders of FCCBs, the board members have approved the allotment of 11.88 lakh equity shares at a conversion price of Rs 521 per share to such FCCBs holders.
PTC India Financial Services: The company said the board of directors has sanctioned additional loans of Rs 800 crore to various borrowers. The company is committed to perform better in coming quarters to achieve sustainable growth.
Himatsingka Seide: The board of directors of the company will meet on December 15 to consider fund raising up to Rs 108 crore. They will also consider an issue of non-convertible debentures up to Rs 500 crore, to identified investors.
PSP Projects: The company has received a letter of intent from Nila Spaces for civil constriction of residential project “VIDA” at GIFT City Gandhinagar, Gujarat. The construction order is worth Rs 121.51 crore. With this, the total order inflow for the financial year 2022-23 till date amounts to Rs 1,833.09 crore.
Apar Industries: HDFC Mutual Fund sold 1 lakh shares in the company via open market transactions on December 7. With this, the fund house shareholding in the company reduced to 6.78%, from 7.04% earlier.
Kalpataru Power Transmission: The company has raised Rs 99 crore by allotment of 990 NCDs of the face value of Rs 10 lakh each on private placement basis. The said NCDs will be listed on wholesale debt market segment of BSE
🌹India Daybook – Stocks in News
PSP Projects: Company gets order worth Rs 122 cr for civil construction (Positive)
Steel Companies: Government to give PLI for Specialty Steel. Selects 67 applications under Speciality Steel PLI scheme (Positive)
Emami: Company increases stake in Brillare Science to 80.59% from 77.53% (Positive)
Zydus Life: Receives final approval from USFDA for Silodosin and Pregabalin capsule (Positive)
Lupin: Company to enter cardio-vascular therapeutics space in 10 cities by Feb (Positive)
TVS Motor's Singapore arm to acquire EV related tech, assets in Germany (Positive)
Marico: Company to acquire 100% stake in Vietnamese personal care brand Beauty X (Positive)
Oil marketing PSUs: Fuel demand in India hits eight-month peak in November amid festivals (Positive)
Dr Reddy’s: Company gets US FDA nod for Bendamustine Hydrochloride (Positive)
Affle India: Board meet On 14-December to Consider Issue Of Securities Via Preferential Issue (Positive)
Adani Total Gas: Receives Letter of Award from Convergence Energy Services (Positive)
Alkem: Gets US FDA Nod For Eslicarbazepine Acetate (Positive)
Aditya Vision: Ashish Rameshchandra Kacholia acquired 1 lakh shares in the company via open market transactions. (Positive)
Apar Industries: HDFC Mutual Fund sold 1 lakh shares in the company (Positive)
NTPC: Company has commissioned 162.27 MW of solar power capacity at Ettayapuram in Tamil Nadu (Positive)
Airlines stocks: Domestic Air Traffic Data on December 10’22 hit new high since Covid (Positive)
Kalpataru Power: Raises Rs 99 cr via NCDs on private placement basis (Neutral)
PFS: Company’s board approves sanctioning of Rs 800 crore as loan (Neutral)
Bharti Airtel: Company allocates equity worth Rs 71 crore to foreign debt bond holders (Neutral)
Gujarat Gas: Company has reduced price by Rs 5/scm to Rs 52/scm (Industry Sources) (Neutral)
Vodafone Idea: Company & ATC have mutually extended the last date for the subscription of the OCDs (Neutral)
Trent: Company to sell Unistore stake to Tata Digital (Neutral)
RSWM: Board meet today to consider & Approve the Terms and Conditions of the Rights Issue (Neutral)
Himatsingka Seide: The board of directors of the company will meet on December 15 to consider fund raising up to Rs 108 crore (Neutral)
Glenmark: USFDA has pulled up drug maker for manufacturing lapses, including failure to establish required laboratory control mechanisms, at its Goa-based manufacturing plant.
• Russia’s Novak Hails India Shunning the G-7 Oil Price Cap
• India Eases Soured-Debt Sale Rules to Help Banks Pare Bad Loans
• India Forex Reserves Climb to $561.2 Billion on Foreign Inflows
o Forex Reserves Rose $11b to $561.2b in a Week to Nov. 25
• India’S RBI Sold INR28.9B of Bonds in Secondary Market Last Week
• Indian Farmers Boost Planting of Winter-Sown Wheat and Rapessed
• India’s Neo Aims to Raise Up to INR20b for Private Credit
• India’s November Oil Products Consumption Highest in Eight Months
• Global Funds Sell Net INR1.58B of India Stocks on Dec. 9: NSE
o Domestic funds buy net 5.02b rupees of stocks
• Bhupendra Patel to take oath as Gujarat CM on Monday; PM Modi to attend: PTI
• Tata’s Air India Nears Deal for 150 Boeing 737 Max Jets: ET
• Lenders of Reliance Capital finalise e-auction process for bidders: PTI
• Govt asks trade bodies, banks to explore more countries for trade in rupee: PTI
• 5:30pm: India Nov. Consumer Price Inflation y/y; est. 6.36%, prior 6.77%
• 5:30pm: India Oct. Industrial Production y/y; est. -0.6%, prior 3.1%
• Adani Total Gas (ATGL): Wins mandate for EV charge station in 8 cities
• Emami (HMN): Increases stake in Brillare Science to 80.59% from 77.53%
• Infosys (INFO): Slumps as much as 6% in US Trading After HCL Technologies Warning
• Kalpataru Power (KPP): Raises INR990m via bonds in private placement
• PSP Projects (PSPPL): Gets INR1.22b civil construction order from Nila Spaces
• V-Guard (VGRD): To Buy Sunflame for $80.2 Milllion in All Cash Deal
PSP Projects: Company gets order worth Rs 122 cr for civil construction (Positive)
Steel Companies: Government to give PLI for Specialty Steel. Selects 67 applications under Speciality Steel PLI scheme (Positive)
Emami: Company increases stake in Brillare Science to 80.59% from 77.53% (Positive)
Zydus Life: Receives final approval from USFDA for Silodosin and Pregabalin capsule (Positive)
Lupin: Company to enter cardio-vascular therapeutics space in 10 cities by Feb (Positive)
TVS Motor's Singapore arm to acquire EV related tech, assets in Germany (Positive)
Marico: Company to acquire 100% stake in Vietnamese personal care brand Beauty X (Positive)
Oil marketing PSUs: Fuel demand in India hits eight-month peak in November amid festivals (Positive)
Dr Reddy’s: Company gets US FDA nod for Bendamustine Hydrochloride (Positive)
Affle India: Board meet On 14-December to Consider Issue Of Securities Via Preferential Issue (Positive)
Adani Total Gas: Receives Letter of Award from Convergence Energy Services (Positive)
Alkem: Gets US FDA Nod For Eslicarbazepine Acetate (Positive)
Aditya Vision: Ashish Rameshchandra Kacholia acquired 1 lakh shares in the company via open market transactions. (Positive)
Apar Industries: HDFC Mutual Fund sold 1 lakh shares in the company (Positive)
NTPC: Company has commissioned 162.27 MW of solar power capacity at Ettayapuram in Tamil Nadu (Positive)
Airlines stocks: Domestic Air Traffic Data on December 10’22 hit new high since Covid (Positive)
Kalpataru Power: Raises Rs 99 cr via NCDs on private placement basis (Neutral)
PFS: Company’s board approves sanctioning of Rs 800 crore as loan (Neutral)
Bharti Airtel: Company allocates equity worth Rs 71 crore to foreign debt bond holders (Neutral)
Gujarat Gas: Company has reduced price by Rs 5/scm to Rs 52/scm (Industry Sources) (Neutral)
Vodafone Idea: Company & ATC have mutually extended the last date for the subscription of the OCDs (Neutral)
Trent: Company to sell Unistore stake to Tata Digital (Neutral)
RSWM: Board meet today to consider & Approve the Terms and Conditions of the Rights Issue (Neutral)
Himatsingka Seide: The board of directors of the company will meet on December 15 to consider fund raising up to Rs 108 crore (Neutral)
Glenmark: USFDA has pulled up drug maker for manufacturing lapses, including failure to establish required laboratory control mechanisms, at its Goa-based manufacturing plant.
• Russia’s Novak Hails India Shunning the G-7 Oil Price Cap
• India Eases Soured-Debt Sale Rules to Help Banks Pare Bad Loans
• India Forex Reserves Climb to $561.2 Billion on Foreign Inflows
o Forex Reserves Rose $11b to $561.2b in a Week to Nov. 25
• India’S RBI Sold INR28.9B of Bonds in Secondary Market Last Week
• Indian Farmers Boost Planting of Winter-Sown Wheat and Rapessed
• India’s Neo Aims to Raise Up to INR20b for Private Credit
• India’s November Oil Products Consumption Highest in Eight Months
• Global Funds Sell Net INR1.58B of India Stocks on Dec. 9: NSE
o Domestic funds buy net 5.02b rupees of stocks
• Bhupendra Patel to take oath as Gujarat CM on Monday; PM Modi to attend: PTI
• Tata’s Air India Nears Deal for 150 Boeing 737 Max Jets: ET
• Lenders of Reliance Capital finalise e-auction process for bidders: PTI
• Govt asks trade bodies, banks to explore more countries for trade in rupee: PTI
• 5:30pm: India Nov. Consumer Price Inflation y/y; est. 6.36%, prior 6.77%
• 5:30pm: India Oct. Industrial Production y/y; est. -0.6%, prior 3.1%
• Adani Total Gas (ATGL): Wins mandate for EV charge station in 8 cities
• Emami (HMN): Increases stake in Brillare Science to 80.59% from 77.53%
• Infosys (INFO): Slumps as much as 6% in US Trading After HCL Technologies Warning
• Kalpataru Power (KPP): Raises INR990m via bonds in private placement
• PSP Projects (PSPPL): Gets INR1.22b civil construction order from Nila Spaces
• V-Guard (VGRD): To Buy Sunflame for $80.2 Milllion in All Cash Deal
*INSTL. INVESTORS EQUITY DERIVAT. TRADES AS ON : 12-12-2022 :*
*FIIS F & O : RS. CRS. :*
*TOTAL NET BUY : +5339* 😄😄
*INDEX FUT. : +657*
*INDEX OPT. : +4810*
*STOCK FUT. : -310*
*STOCK OPT. : +182*
*SEC. IN F&O BAN FOR, 13 DEC, 2022 :*
*1. GNFC 2. PNB 3. BHEL 4. DELTACORP*
*ADDITION : NIL*
*DELETION : NIL*
*🔹INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 12-DEC-22 : (Rs. CRS)*
*FIIS : SELL -139 (6,982-7,121)* 😔
*DIIS : BUY +696 (5,308-4,612)* 😊
*BSE SENSEX : -51 (62,130)🔽*
*NSE NIFTY : +00 (18,497)↔️*
*BSE MIDCAP. : +77 (26,173)*🔼
*BSE SMLCAP. : +106 (29,665)*🔼
*B. CRUDE : $ 75.38* 🔽 😄
*GOLD: $1791=INR 53,630(10gr)* ↔️ 😳
*SILVER : RS. 69,300 (kg) (5pm) 🔼 😄*
*FOREX : RS. : $ 82.53* 🔽 😩
*7.26% GOI '32 : 7.2938%(99.7525)*🔽 🙂
*7.54% GOI '36 : 7.4027% (101.15)* 🔽 🙂
*FIIS F & O : RS. CRS. :*
*TOTAL NET BUY : +5339* 😄😄
*INDEX FUT. : +657*
*INDEX OPT. : +4810*
*STOCK FUT. : -310*
*STOCK OPT. : +182*
*SEC. IN F&O BAN FOR, 13 DEC, 2022 :*
*1. GNFC 2. PNB 3. BHEL 4. DELTACORP*
*ADDITION : NIL*
*DELETION : NIL*
*🔹INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 12-DEC-22 : (Rs. CRS)*
*FIIS : SELL -139 (6,982-7,121)* 😔
*DIIS : BUY +696 (5,308-4,612)* 😊
*BSE SENSEX : -51 (62,130)🔽*
*NSE NIFTY : +00 (18,497)↔️*
*BSE MIDCAP. : +77 (26,173)*🔼
*BSE SMLCAP. : +106 (29,665)*🔼
*B. CRUDE : $ 75.38* 🔽 😄
*GOLD: $1791=INR 53,630(10gr)* ↔️ 😳
*SILVER : RS. 69,300 (kg) (5pm) 🔼 😄*
*FOREX : RS. : $ 82.53* 🔽 😩
*7.26% GOI '32 : 7.2938%(99.7525)*🔽 🙂
*7.54% GOI '36 : 7.4027% (101.15)* 🔽 🙂
13/12/2022
BSE:+402(62533)
NSE:+110(18608)
MID:+66(26239)
SML:+120(29785)
FII|FPI:+619Cr
DII:+36Cr
B.Crude: 78
Gold$:1787=INR: 54323
Silver: 68250
$/Rs: 82.80
7.26 : 2032 G-Sec: 7.26
NSE PE: 22.23
BSE:+402(62533)
NSE:+110(18608)
MID:+66(26239)
SML:+120(29785)
FII|FPI:+619Cr
DII:+36Cr
B.Crude: 78
Gold$:1787=INR: 54323
Silver: 68250
$/Rs: 82.80
7.26 : 2032 G-Sec: 7.26
NSE PE: 22.23
MS: Yes Bank Limited | RoA recovery beyond 1% will be gradual; initiate at UW
We expect strong RoA improvement to 1% by F25, helped by higher PPoP margins/lower credit costs as macro improves further. But at 1.6x F24 P/BV, the stock is pricing this in. Beyond 1% RoA, improvement will be tough and gradual as we see much higher competitive intensity in this cycle.
Yes Bank – Moving in the right direction post 2020 NPA crisis: Yes Bank has focused on reducing asset quality challenges by accelerating provisions and cleaning up its balance sheet (organically as well as via asset sales). We expect its gross impaired loans to fall to 9% by end-F23 from a peak of 22% in Mar-20. Further, unlike the previous cycle, the bank has focused on increasing the share of retail on both sides of the balance sheet. Indeed, the share of CASA + retail deposits currently amounts to 48% of total funding (vs. 33% in Mar-20). On assets, retail/SME loans have increased to 66% vs. 44% in Mar-20 (implied CAGR of 23%).
We expect strong cyclical improvement over the next few years: Having cleaned its balance sheet, we expect Yes Bank's loan growth and margin profile to improve as the macro recovery gains pace. We expect loan growth to accelerate to a 20% CAGR in F23-25, vs. 15% in F23 (3% CAGR in F20-22). This, along with an improving share of retail/SME loans (where we project a 25% CAGR in F23-F25) should help offset rising funding costs and drive higher margins to 3.2% by F25, vs. 2.6% in F23. Overall, we expect a core PPoP CAGR of >50% in F23-25, which, coupled with benign credit costs (0.7% average for F23-25), will drive RoA improvement to 1% by F25, vs. an estimated 0.4% in F23. Indeed, our estimates are~20%/35% above consensus for F24/F25.
Valuations, however, at 1.6x F24 book, are already pricing this in, we believe. More importantly, we see limited improvement beyond 1% RoA given high competitive intensity in retail deposits as well as assets. As discussed in our report, India Banks: Retail deposit competition to intensify, we expect the competitive intensity in retail deposits to touch a new high in the current cycle. Yes Bank, with a 116% liquidity coverage ratio (LCR) as of Sept-22, a narrowing deposit spread relative to large private banks, and a relatively high outflow rate (under LCR), will see greater challenges like some other mid-sized private banks, we believe. Further, we expect the competitive intensity on retail assets to build up as well. This will weigh on loan spread expansion over the medium term.
Initiate at UW at a PT of Rs20.5: Our PT implies 1.3x Dec-24 P/BV, which we think is fair in the context of 10% F25 RoE. Current valuations at 1.6x F24 book are already pricing in strong earnings over next few years. Much stronger execution on funding and/or high margin retail assets could lead us to revisit our thesis.
We expect strong RoA improvement to 1% by F25, helped by higher PPoP margins/lower credit costs as macro improves further. But at 1.6x F24 P/BV, the stock is pricing this in. Beyond 1% RoA, improvement will be tough and gradual as we see much higher competitive intensity in this cycle.
Yes Bank – Moving in the right direction post 2020 NPA crisis: Yes Bank has focused on reducing asset quality challenges by accelerating provisions and cleaning up its balance sheet (organically as well as via asset sales). We expect its gross impaired loans to fall to 9% by end-F23 from a peak of 22% in Mar-20. Further, unlike the previous cycle, the bank has focused on increasing the share of retail on both sides of the balance sheet. Indeed, the share of CASA + retail deposits currently amounts to 48% of total funding (vs. 33% in Mar-20). On assets, retail/SME loans have increased to 66% vs. 44% in Mar-20 (implied CAGR of 23%).
We expect strong cyclical improvement over the next few years: Having cleaned its balance sheet, we expect Yes Bank's loan growth and margin profile to improve as the macro recovery gains pace. We expect loan growth to accelerate to a 20% CAGR in F23-25, vs. 15% in F23 (3% CAGR in F20-22). This, along with an improving share of retail/SME loans (where we project a 25% CAGR in F23-F25) should help offset rising funding costs and drive higher margins to 3.2% by F25, vs. 2.6% in F23. Overall, we expect a core PPoP CAGR of >50% in F23-25, which, coupled with benign credit costs (0.7% average for F23-25), will drive RoA improvement to 1% by F25, vs. an estimated 0.4% in F23. Indeed, our estimates are~20%/35% above consensus for F24/F25.
Valuations, however, at 1.6x F24 book, are already pricing this in, we believe. More importantly, we see limited improvement beyond 1% RoA given high competitive intensity in retail deposits as well as assets. As discussed in our report, India Banks: Retail deposit competition to intensify, we expect the competitive intensity in retail deposits to touch a new high in the current cycle. Yes Bank, with a 116% liquidity coverage ratio (LCR) as of Sept-22, a narrowing deposit spread relative to large private banks, and a relatively high outflow rate (under LCR), will see greater challenges like some other mid-sized private banks, we believe. Further, we expect the competitive intensity on retail assets to build up as well. This will weigh on loan spread expansion over the medium term.
Initiate at UW at a PT of Rs20.5: Our PT implies 1.3x Dec-24 P/BV, which we think is fair in the context of 10% F25 RoE. Current valuations at 1.6x F24 book are already pricing in strong earnings over next few years. Much stronger execution on funding and/or high margin retail assets could lead us to revisit our thesis.
🌹India Daybook – Stocks in News
UltraTech Cement: Commissioning 1.9 MTPA greenfield clinker-backed grinding capacity at Pali, Rajasthan. (Positive)
Reliance Ind: Heads Up Ventures enters into a pact with Reliance Retail to sell its products (Positive)
Tata Motors: Board approves partial divestment of the company’s investment in Subsidiary Tata Technologies through IPO route (Positive)
HDFC: BSE & NSE give in-principle approval to merger with HDFC Bank (Positive)
Delta Corp/Nazara Tech: GoM report on online gaming, casinos and race courses unlikely to be taken up in the upcoming council meeting (Positive)
Bank of Baroda: Board approved divestment of holding in Nainital Bank (Positive)
TVS Motor: Plans to launch Euro-5 two-wheelers in Turkey (Positive)
Gold Loan NBFCs: Gold prices pierced and sustained above $1800/oz (Positive)
Oil upstream stocks: Brent again crossed $80/barrel on supply risks amid ongoing Keystone outage (Positive)
PEL: Piramal Capital acquired 100% stake in PRL Agastya for Rs 90 cr (Neutral)
Yes Bank: Board approves allotment of shares & warrants to Carlyle Group & Advent Intl (Neutral)
Patel Engineering: Company to consider fund raise via Rights Issue on December 16 (Neutral)
Adani Transmission: Says incorporates unit Adani Cooling Solutions (Neutral)
IFB Industries: The company has received approval from board of directors for investment of up to Rs 97 crore in equity issue of IFB Refrigeration in one or more tranches. (Neutral)
Axis Bank: The private sector lender has received board approval for allotment of 12,000 non-convertible, Basel III compliant Tier II bonds (Neutral)
Sagar Cement: Company to consider a draft scheme of amalgamation for the proposed merger of its wholly-owned subsidiary Jajpur Cements with itself (Neutral)
Paytm: Board approves Open Market share Buyback up to Rs 850 cr at max Rs 810/share.
Bayer Crop: Company temporarily discontinued operations at crop protection formulations plant at Himatnagar
Oil downstream stocks: Brent again crossed $80/barrel on supply risks amid ongoing Keystone outage
UltraTech Cement: Commissioning 1.9 MTPA greenfield clinker-backed grinding capacity at Pali, Rajasthan. (Positive)
Reliance Ind: Heads Up Ventures enters into a pact with Reliance Retail to sell its products (Positive)
Tata Motors: Board approves partial divestment of the company’s investment in Subsidiary Tata Technologies through IPO route (Positive)
HDFC: BSE & NSE give in-principle approval to merger with HDFC Bank (Positive)
Delta Corp/Nazara Tech: GoM report on online gaming, casinos and race courses unlikely to be taken up in the upcoming council meeting (Positive)
Bank of Baroda: Board approved divestment of holding in Nainital Bank (Positive)
TVS Motor: Plans to launch Euro-5 two-wheelers in Turkey (Positive)
Gold Loan NBFCs: Gold prices pierced and sustained above $1800/oz (Positive)
Oil upstream stocks: Brent again crossed $80/barrel on supply risks amid ongoing Keystone outage (Positive)
PEL: Piramal Capital acquired 100% stake in PRL Agastya for Rs 90 cr (Neutral)
Yes Bank: Board approves allotment of shares & warrants to Carlyle Group & Advent Intl (Neutral)
Patel Engineering: Company to consider fund raise via Rights Issue on December 16 (Neutral)
Adani Transmission: Says incorporates unit Adani Cooling Solutions (Neutral)
IFB Industries: The company has received approval from board of directors for investment of up to Rs 97 crore in equity issue of IFB Refrigeration in one or more tranches. (Neutral)
Axis Bank: The private sector lender has received board approval for allotment of 12,000 non-convertible, Basel III compliant Tier II bonds (Neutral)
Sagar Cement: Company to consider a draft scheme of amalgamation for the proposed merger of its wholly-owned subsidiary Jajpur Cements with itself (Neutral)
Paytm: Board approves Open Market share Buyback up to Rs 850 cr at max Rs 810/share.
Bayer Crop: Company temporarily discontinued operations at crop protection formulations plant at Himatnagar
Oil downstream stocks: Brent again crossed $80/barrel on supply risks amid ongoing Keystone outage
👍1
Dow +103.60 pts ,Nsdq +113.08 pts, S&P
+29.09 pts , Bovespa -1803 pts , Ftse +56 pts , Dax +191 pts , Cac +94 pts , Crude @ $75.28 brl (-0.11), Brent @ $80.39 brl (+2.40) , Gold @ 1822.30 (-3.20), Silver @ $23.935 (-0.05), Euro @ $1.062, JPY @ $135.66, INR @ 82.375
US GOVT. 10-YEAR YIELD : 3.49%
Today's Corporate Action, 14 Dec Ex Date :
ALSTONE
Bonus issue 9:1
ALSTONE
Stock Split From Rs.10/- to Rs.1/-
TELESYS
E.G.M.
Today's Key Results/Board Meetings, 14-Dec-22 :
AMAL
Right Issue of Equity Shares
DIAPOWER
Quarterly Results
GLCL
Bonus issue
KAMATHOTEL
Issue Of Warrants;Preferential Issue of shares
KSERASERA
General
MFSINTRCRP
Quarterly Results
MKEXIM
General
SBIN
General
SICAPIT
General
TIJARIA
General
ZODJRDMKJ
General
SEC. IN F&O BAN FOR, 14 DEC, 2022 :
1. GNFC 2. BHEL 3. DELTACORP
ADDITION : NIL
DELETION : PNB
• India, UK Agree to Conclude FTA Negotiations at the Earliest
• India Working on National Policy to Curb Steel Industry Emission
• India May Issue Green Bonds Between January and March: Minister
• India Set to Miss Rooftop Solar Energy Goal, Minister Says
• RBI Asks Banks to Give More Disclosures in Financial Statements
• Global Funds Buy Net INR6.20B of India Stocks on Tuesday: NSE
o Domestic funds buy net 367.5m rupees of stocks
• IL&FS resolves debt of Rs 56,943 crore, reduces number of entities to 101: PTI
• 12pm: India Nov. Wholesale Price Inflation Y/y, est. 6.30%, prior 8.39%
• Adani Transmission (ADANIT): Says incorporates unit Adani Cooling Solutions
• Bank of Baroda (BOB IN): Board approved divestment of holding in Nainital Bank
• One 97 Communications (PAYTM IN): India’s Paytm Approves INR8.5B Share Buyback at 810 Rupees Each
• Patel Engineering (PEC): To consider fund raising via right issue of shares on Dec. 16
• TVS Motor (TVSL): Plans to launch Euro-5 two-wheelers in Turkey
• UltraTech Cement (UTCEM): Commission 1.9 mtpa greenfield clinker backed grinding capacity at Pali, Rajasthan; total cement manufacturing capacity in India now at 121.35 mtpa
• Yes Bank (YES IN): Yes Bank Approves Allotment of Shares to CA Basque, Verventa
+29.09 pts , Bovespa -1803 pts , Ftse +56 pts , Dax +191 pts , Cac +94 pts , Crude @ $75.28 brl (-0.11), Brent @ $80.39 brl (+2.40) , Gold @ 1822.30 (-3.20), Silver @ $23.935 (-0.05), Euro @ $1.062, JPY @ $135.66, INR @ 82.375
US GOVT. 10-YEAR YIELD : 3.49%
Today's Corporate Action, 14 Dec Ex Date :
ALSTONE
Bonus issue 9:1
ALSTONE
Stock Split From Rs.10/- to Rs.1/-
TELESYS
E.G.M.
Today's Key Results/Board Meetings, 14-Dec-22 :
AMAL
Right Issue of Equity Shares
DIAPOWER
Quarterly Results
GLCL
Bonus issue
KAMATHOTEL
Issue Of Warrants;Preferential Issue of shares
KSERASERA
General
MFSINTRCRP
Quarterly Results
MKEXIM
General
SBIN
General
SICAPIT
General
TIJARIA
General
ZODJRDMKJ
General
SEC. IN F&O BAN FOR, 14 DEC, 2022 :
1. GNFC 2. BHEL 3. DELTACORP
ADDITION : NIL
DELETION : PNB
• India, UK Agree to Conclude FTA Negotiations at the Earliest
• India Working on National Policy to Curb Steel Industry Emission
• India May Issue Green Bonds Between January and March: Minister
• India Set to Miss Rooftop Solar Energy Goal, Minister Says
• RBI Asks Banks to Give More Disclosures in Financial Statements
• Global Funds Buy Net INR6.20B of India Stocks on Tuesday: NSE
o Domestic funds buy net 367.5m rupees of stocks
• IL&FS resolves debt of Rs 56,943 crore, reduces number of entities to 101: PTI
• 12pm: India Nov. Wholesale Price Inflation Y/y, est. 6.30%, prior 8.39%
• Adani Transmission (ADANIT): Says incorporates unit Adani Cooling Solutions
• Bank of Baroda (BOB IN): Board approved divestment of holding in Nainital Bank
• One 97 Communications (PAYTM IN): India’s Paytm Approves INR8.5B Share Buyback at 810 Rupees Each
• Patel Engineering (PEC): To consider fund raising via right issue of shares on Dec. 16
• TVS Motor (TVSL): Plans to launch Euro-5 two-wheelers in Turkey
• UltraTech Cement (UTCEM): Commission 1.9 mtpa greenfield clinker backed grinding capacity at Pali, Rajasthan; total cement manufacturing capacity in India now at 121.35 mtpa
• Yes Bank (YES IN): Yes Bank Approves Allotment of Shares to CA Basque, Verventa
D-STREEt CLOSe WITh MINOr GAINs...!!!
Indian equity benchmarks ended higher on Wednesday amid positive cues from global markets. Investors globally keenly await FOMC decision scheduled to be announced later today.
Bse Sector:
Gainers: Metal, Realty, Capital Goods, IT, Consumer Durables, Industrials, Commodities, Utilities, Power, Teck, Consumer
Discretionary, Healthcare, Telecommunication, Auto, Financial Services, Oil & Gas, Bankex, Services.
Non Gainers : FMCG, Energy.
BEATINg tHe STREEt (Nifty):
Gainers were Hindalco, ONGC, TechM, JSWStl, UPL, EicherMtrs, TataStl, IndusIndBk, NTPC, SBI, PwrGrid, DivisLab
ExPECTATIOn BELIEd (Nifty):
Non Gainers were Nestle, ICICIBk, Airtel, AsianPaints, HUL, SBILifeIns, HeroM, Britannia, UltratechCmnt, RIL, HDFCLife
Indian equity benchmarks ended higher on Wednesday amid positive cues from global markets. Investors globally keenly await FOMC decision scheduled to be announced later today.
Bse Sector:
Gainers: Metal, Realty, Capital Goods, IT, Consumer Durables, Industrials, Commodities, Utilities, Power, Teck, Consumer
Discretionary, Healthcare, Telecommunication, Auto, Financial Services, Oil & Gas, Bankex, Services.
Non Gainers : FMCG, Energy.
BEATINg tHe STREEt (Nifty):
Gainers were Hindalco, ONGC, TechM, JSWStl, UPL, EicherMtrs, TataStl, IndusIndBk, NTPC, SBI, PwrGrid, DivisLab
ExPECTATIOn BELIEd (Nifty):
Non Gainers were Nestle, ICICIBk, Airtel, AsianPaints, HUL, SBILifeIns, HeroM, Britannia, UltratechCmnt, RIL, HDFCLife
*News Headlines from Business News Agencies:*
*Business Standard :*
• India-China trade rises 34% in FY22 thwarting Centre's self-reliance goals
• M&M to invest Rs 10,000 cr to set up plant in Pune for upcoming EV range
• ADB cuts developing Asia's GDP outlook for 2023 amid global growth concerns
• US finalising arms upgrade to Ukraine with Patriot missile batteries
• Billionaire Anil Agarwal struggles to get backers for $19 billion chip unit
• Sundar Pichai coming to India; govt to discuss 'Made in India' Pixel phones
• India and UK look to fast-track free trade agreement negotiations
• United Airlines places largest 787 Dreamliner order in Boeing's history
• Bharti Airtel launches 5G Plus services at no extra cost in Lucknow
• Coal India's 7 projects to be developed by MDOs for import reduction
• Govt extends bid submission deadline till Jan 7 for IDBI Bank sale
• Retail firm Lulu Group signs deal to open 6 shopping malls, 1 hotel in UP
• Colgate Palmolive to focus on volume growth in India, says MD Narasimhan
• Amazon faces $280 mn lawsuit from Vietnamese supplier for post-Covid cuts
• CPAI asks Sebi to provide uninterrupted trading in cotton futures contracts
• Israel to consider cooperation in agriculture, tourism sectors with Kerala
*Economic Times :*
• Indian IT to bag a lion's share of $160 billion tech deals in Q1
• India's wholesale inflation eases to 21-mth low in Nov
• Share of SIP AUM hits a record 17% in total MF AUM amid sustained inflows
• India's Rupee only currency which strengthened during uncertain times, says Finance Minister
• Macro headwinds impact performance of textile players across segments in Q2 FY2023
• Inflation, uncompetitive prices hurting Indian cotton spinners: ICRA
• Sales of automobiles continue to grow even after festive season: SIAM
• 9.79 Lakh vacancies in central government departments: Centre
• Crypto firm Binance says deposits returning after heavy withdrawals
• Paras Healthcare onboards MyHealthcare as their digital transformation partner
• UN recognises Ganges project among 10 initiatives restoring natural world
• Byju's staff reveal harsh work conditions at edtech giant
• Paras Healthcare appoints Santy Sajan as the new Group Chief Operating Officer
• AAI issues notice to Delhi airport for providing deficient services, may slap penalty
• Indian households may more than double savings in 5 years, says Crisil
• UK inflation falls from 41-year high giving some relief to BoE
*Mint :*
• Coal India issues letters of acceptance for seven greenfield coal projects
• NTPC plans to raise ₹500 cr through NCDs via private placement
01q
• Two committees set up to reduce delay in crop loss, damage estimation: Jitendra Singh
• Paytm has excess cash, buyback won't hamper growth plans: Morgan Stanley
• IEX becomes India’s first carbon-neutral power exchange
• Infrastructure consultancy firm REPL to prepare master plan for 19 ULBs of Uttarakhand
• Non-life insurers’ gross direct premium up 22.1% in November
• GMR Hyderabad Airport raises ₹1,150 cr for repayment of offshore bonds
• Success rate of Indian startups higher than rest of the world: Piyush Goyal
• HDFC Bank to acquire 7.75% stake in fintech start-up Mintoak
• Delhi MCD presents budgetary proposals worth ₹16,000 crore.
• Airport congestion: Govt asks airlines to deploy adequate staff
• Anti-trust action against the Microsoft-Activision Blizzard deal is overkill
*Economic Calendar_15.12.2022*
*07.30 AM China Industrial Production y/y (Expectations: 3.4%, Previous: 5.0%)*
*07.30 AM China Retail Sales y/y (Expectations: -3.9%, Previous: -0.5%)*
*17.30 PM U.K. Bank of England Monetary Policy (Expectations: 3.5%, Previous: 3.0%)*
*18.45 PM Euro ECB Monetary Policy (Expectations: 2.5%, Previous: 2.0%)*
*19.00 PM U.S Retail Sales m/m (Expectations: -0.2%, Previous: 1.3%)*
19.00 PM U.S Empire State Manufacturing Index (Expectations: -1.1, Previous: 4.5)
19.00 PM U.S Unemployment Claims (Expectations: 230k, Previous: 230k)
*Business Standard :*
• India-China trade rises 34% in FY22 thwarting Centre's self-reliance goals
• M&M to invest Rs 10,000 cr to set up plant in Pune for upcoming EV range
• ADB cuts developing Asia's GDP outlook for 2023 amid global growth concerns
• US finalising arms upgrade to Ukraine with Patriot missile batteries
• Billionaire Anil Agarwal struggles to get backers for $19 billion chip unit
• Sundar Pichai coming to India; govt to discuss 'Made in India' Pixel phones
• India and UK look to fast-track free trade agreement negotiations
• United Airlines places largest 787 Dreamliner order in Boeing's history
• Bharti Airtel launches 5G Plus services at no extra cost in Lucknow
• Coal India's 7 projects to be developed by MDOs for import reduction
• Govt extends bid submission deadline till Jan 7 for IDBI Bank sale
• Retail firm Lulu Group signs deal to open 6 shopping malls, 1 hotel in UP
• Colgate Palmolive to focus on volume growth in India, says MD Narasimhan
• Amazon faces $280 mn lawsuit from Vietnamese supplier for post-Covid cuts
• CPAI asks Sebi to provide uninterrupted trading in cotton futures contracts
• Israel to consider cooperation in agriculture, tourism sectors with Kerala
*Economic Times :*
• Indian IT to bag a lion's share of $160 billion tech deals in Q1
• India's wholesale inflation eases to 21-mth low in Nov
• Share of SIP AUM hits a record 17% in total MF AUM amid sustained inflows
• India's Rupee only currency which strengthened during uncertain times, says Finance Minister
• Macro headwinds impact performance of textile players across segments in Q2 FY2023
• Inflation, uncompetitive prices hurting Indian cotton spinners: ICRA
• Sales of automobiles continue to grow even after festive season: SIAM
• 9.79 Lakh vacancies in central government departments: Centre
• Crypto firm Binance says deposits returning after heavy withdrawals
• Paras Healthcare onboards MyHealthcare as their digital transformation partner
• UN recognises Ganges project among 10 initiatives restoring natural world
• Byju's staff reveal harsh work conditions at edtech giant
• Paras Healthcare appoints Santy Sajan as the new Group Chief Operating Officer
• AAI issues notice to Delhi airport for providing deficient services, may slap penalty
• Indian households may more than double savings in 5 years, says Crisil
• UK inflation falls from 41-year high giving some relief to BoE
*Mint :*
• Coal India issues letters of acceptance for seven greenfield coal projects
• NTPC plans to raise ₹500 cr through NCDs via private placement
01q
• Two committees set up to reduce delay in crop loss, damage estimation: Jitendra Singh
• Paytm has excess cash, buyback won't hamper growth plans: Morgan Stanley
• IEX becomes India’s first carbon-neutral power exchange
• Infrastructure consultancy firm REPL to prepare master plan for 19 ULBs of Uttarakhand
• Non-life insurers’ gross direct premium up 22.1% in November
• GMR Hyderabad Airport raises ₹1,150 cr for repayment of offshore bonds
• Success rate of Indian startups higher than rest of the world: Piyush Goyal
• HDFC Bank to acquire 7.75% stake in fintech start-up Mintoak
• Delhi MCD presents budgetary proposals worth ₹16,000 crore.
• Airport congestion: Govt asks airlines to deploy adequate staff
• Anti-trust action against the Microsoft-Activision Blizzard deal is overkill
*Economic Calendar_15.12.2022*
*07.30 AM China Industrial Production y/y (Expectations: 3.4%, Previous: 5.0%)*
*07.30 AM China Retail Sales y/y (Expectations: -3.9%, Previous: -0.5%)*
*17.30 PM U.K. Bank of England Monetary Policy (Expectations: 3.5%, Previous: 3.0%)*
*18.45 PM Euro ECB Monetary Policy (Expectations: 2.5%, Previous: 2.0%)*
*19.00 PM U.S Retail Sales m/m (Expectations: -0.2%, Previous: 1.3%)*
19.00 PM U.S Empire State Manufacturing Index (Expectations: -1.1, Previous: 4.5)
19.00 PM U.S Unemployment Claims (Expectations: 230k, Previous: 230k)
*19.15 PM Euro ECB Press Conference*
19.30 PM U.S Industrial Production m/m (Expectations: -0.1%, Previous: 0.1%)
19.30 PM U.S Industrial Production m/m (Expectations: -0.1%, Previous: 0.1%)
*🌹India Daybook – Stocks in News*
*Torrent Pharma* Company in co-marketing pact with Boehringer for anti-diabetic drug. (Positive)
*Glenmark Pharma:* Company to divest its Cardiac brand Razel (From Agencies) (Positive)
*Kerala Ayurveda:* Company says US regulator awards patent for a herbal formulation (Positive)
*Poonawalla Fincorp:* Company to sell its housing arm to TPG Group for Rs 3,900 cr (Positive)
*Wipro:* Wipro announced the launch of new financial services advisory company, Capco in the Middle East. (Positive)
*Dunseri Tea:* The company has entered into an MOU to sell the Khagorijan tea estate for an amount of Rs 15 crore. (Positive)
*Tata Motors:* The homegrown auto major said it has inked a pact with Everest Fleet Pvt Ltd to supply 5,000 units of XPRES-T EVs (Positive)
*Shriram Properties:* Company buys Bengaluru plotted development project (Positive)
*Dilip Buildcon:* Gujarat metro contract executed via RBL-DBL JV (Positive)
*Tamilnad Mercantile Bank:* Enters into agreement with Kotak General Insurance for marketing, distribution & selling products (Positive)
*Thermax:* Appellate Tribunal allows company's appeal for demand of Rs 1382 cr from excise department (Positive)
*Ramkrishna Forgings:* Company to buy up to 51% of TSUYO Manufacturing in phases (Positive)
*PEL:* Piramal Capital acquired 100% stake in PRL Agastya for Rs 90 cr (Neutral)
*SBI:* Board approves raising upto Rs 10,000 cr via Basel III compliant debt instrument upto FY24 (Neutral)
*JB Chemicals:* Board approves acquisition of Glenmark’s Razel franchise for Rs 313.7 crore (Neutral)
*AstraZeneca:* Gagandeep Singh Bedi resigns as MD w.e.f December 31, 2022 (Neutral)
*Kamat Hotels:* The company will be issuing up to 58.96 lakh warrants (Neutral)
*SBIN:* Bank to hike lending rates by 25 bps across loan tenures from December 15. (Neutral)
*HDFC Bank:* Bank hikes most retail term deposit rates by 40-75 bps (Neutral)
*Kotak Bank:* Bank increases fixed deposit interest rates up to 7% from Dec 15 (Neutral)
*Power Grid:* Directors panel approves Rs 330.61 cr investment for Rajasthan project (Neutral)
*IRCTC:* Government announces OFS for at Rs 680/share.
*Equitas Holdings:* CDC Group Plc sold 76.04 lakh equity shares or a 2.22 percent stake in the company
*PVR/Inox Leisure:* Non-profit group CUTS has moved NCLAT against the fair trade regulator CCI's order
*Torrent Pharma* Company in co-marketing pact with Boehringer for anti-diabetic drug. (Positive)
*Glenmark Pharma:* Company to divest its Cardiac brand Razel (From Agencies) (Positive)
*Kerala Ayurveda:* Company says US regulator awards patent for a herbal formulation (Positive)
*Poonawalla Fincorp:* Company to sell its housing arm to TPG Group for Rs 3,900 cr (Positive)
*Wipro:* Wipro announced the launch of new financial services advisory company, Capco in the Middle East. (Positive)
*Dunseri Tea:* The company has entered into an MOU to sell the Khagorijan tea estate for an amount of Rs 15 crore. (Positive)
*Tata Motors:* The homegrown auto major said it has inked a pact with Everest Fleet Pvt Ltd to supply 5,000 units of XPRES-T EVs (Positive)
*Shriram Properties:* Company buys Bengaluru plotted development project (Positive)
*Dilip Buildcon:* Gujarat metro contract executed via RBL-DBL JV (Positive)
*Tamilnad Mercantile Bank:* Enters into agreement with Kotak General Insurance for marketing, distribution & selling products (Positive)
*Thermax:* Appellate Tribunal allows company's appeal for demand of Rs 1382 cr from excise department (Positive)
*Ramkrishna Forgings:* Company to buy up to 51% of TSUYO Manufacturing in phases (Positive)
*PEL:* Piramal Capital acquired 100% stake in PRL Agastya for Rs 90 cr (Neutral)
*SBI:* Board approves raising upto Rs 10,000 cr via Basel III compliant debt instrument upto FY24 (Neutral)
*JB Chemicals:* Board approves acquisition of Glenmark’s Razel franchise for Rs 313.7 crore (Neutral)
*AstraZeneca:* Gagandeep Singh Bedi resigns as MD w.e.f December 31, 2022 (Neutral)
*Kamat Hotels:* The company will be issuing up to 58.96 lakh warrants (Neutral)
*SBIN:* Bank to hike lending rates by 25 bps across loan tenures from December 15. (Neutral)
*HDFC Bank:* Bank hikes most retail term deposit rates by 40-75 bps (Neutral)
*Kotak Bank:* Bank increases fixed deposit interest rates up to 7% from Dec 15 (Neutral)
*Power Grid:* Directors panel approves Rs 330.61 cr investment for Rajasthan project (Neutral)
*IRCTC:* Government announces OFS for at Rs 680/share.
*Equitas Holdings:* CDC Group Plc sold 76.04 lakh equity shares or a 2.22 percent stake in the company
*PVR/Inox Leisure:* Non-profit group CUTS has moved NCLAT against the fair trade regulator CCI's order
IRCTC - Government will sell an up to 5 per cent stake in Indian Railway Catering and Tourism Corp (IRCTC) at Rs680 a share (CMP 733) – Today HNI and Tomorrow Retail
Poonawalla Fincorp: The non-banking arm of the vaccine major Cyrus Poonawalla Group announced sale of its housing subsidiary Poonawalla Housing Finance to private equity major TPG for Rs 3,900 crore
Mahindra & Mahindra - M&M has received approval from the Maharashtra government to invest Rs 10,000 crore in an electric vehicle manufacturing plant in Pune. The vehicles proposed to be made at the plant will be based on the company’s INGLO EV platform and will include e-SUVs under the XUV brand – positive
NTPC will issue NCDs worth Rs 500 crore on private placement at a rate of 7.44% annually. The proceeds will be utilized for funding capital expenditure, refinancing of existing loans and other general corporate purposes. – positive
Jubiant Pharmova - The U.S. FDA has issued eight observations after an inspection of the company’s API manufacturing facility at Nanjangud, Karnataka. Company will soon announce the action plan on FDA's observations. – Any sharp decline will be buying opportunity
Coal India has issued LoAs for seven coal projects to be pursued through the mine developers and operators model. The projects have a production capacity of close to 100 million tonne per year cumulatively. Coal India is tracking 15 greenfield coal projects through MDOs. Company’s investment in MDO projects seen at Rs 20,600 crore. - positive
Tata Communications Managed Services components to its wholly-owned subsidiary, Tata Communications Collaboration Services Pvt as a going concern on 'slump sale' basis. The networth, basis the carved out Balance Sheet, as of September 30, 2022, was Rs42.34 crores - positive
WPI Inflation Falls To Lowest Since February 2021 - WPI inflations falls to 10-month low at 5.85% in November 2022 compared to 8.39% in October. Bloomberg expectation 6.30% - Expects positive for the interest sensitive sectors like banks, NBFC, auto and real estate stocks due to nearly 1-year low Wholesale Inflation and Retail Inflation.
Vip Clothing - Mr. Sunil Kumar Alagh former managing director and chief executive officer of Britannia Industries will be joining as a strategic advisor to VIP Clothing Ltd, the leading innerwear brand in India with a legacy over past 52 years in the innerwear industry. – positive
Tata Motors: The homegrown auto major said it has inked a pact with Everest Fleet Pvt Ltd to supply 5,000 units of XPRES-T EVs. As part of the deal, the company handed over 100 units to Mumbai-based Everest Fleet. - positive
Power Grid Corporation: A committee of directors of state-owned have approved a proposal to invest Rs 330.61 crore in a transmission project. It said a decision in this regard was taken by the company's 'committee of directors on investment on projects.
Cineline India has announced the opening of its first flagship 7 screen multiplex at "AMR Planet Mall" situated at Malkajgiri Mandal, Hyderabad, Telangana with a capacity of 1,535 seats. – Positive
Torrent Pharmaceuticals has entered into a strategic alliance with Boehringer Ingelheim India Pvt to co-market Cospiaq, Cospiaq Met™ and Xilingio® in India. – positive
IRIS Business is in receipt of a Letter of Intent from the Royal Monetary Authority of Bhutan awarding the contract for providing consulting services for the implementation of a Data Warehousing and Analytics Platform.- positive
Celebrity Fashion - CRISIL Ratings has upgraded its rating on the long-term bank facilities availed by the Company to 'CRISIL BB/Stable' from 'CRISIL BB-/Stable' and reaffirmed the 'CRISIL A4+' rating on the short-term facility. – positive
Jubliant Food - Domino's Pizza, India's largest pizza chain, has launched a new range of gourmet pizzas - Viva Roma. The new range of scrumptious pizzas, which defines authentic Italian taste in every sense – positive
News and Impact
Expects market to open on a weak note on account of global cues after the US Federal Reserve Chair Jerome Powell reiterated his hawkish stance on its policy-meeting outcome and raised interest rates by an expected 50bps at 4.25 percent to 4.5 percent, its highest level in 15 years. US stocks turned lower over half percent on a highly volatile sessions after the Fed’s latest rate decision and Chair Jerome Powell’s speech signaled the central bank sees work left to do in its battle against inflation. Its updated economic projections published on Wednesday showed that the central bank now sees its benchmark rates rising to a median level of 5.1 percent in 2023, above the 4.6 percent forecast back in September, suggesting a target range of 5 percent to 5.25 percent, or roughly another 75 basis point rate hikes ahead. Asian market declined marginally and US Future is up quarter percent. SGX Nifty slipped by 60 points or 0.3%. However, interesting point that the US CBOE volatility index slipped by 10% and Dollar Index fell to 6-month low to below 104. Back home, positive sentiment in the market on account November Retail inflation fell to 11-month low and Wholesale inflation declined to 21-month. Traders buy on decline strategy in the market and focus on PSU, Metal and Real Estate stocks. Today, ECB and Bank of England will announce interest rate decision.
US stocks turned lower after the Federal Reserve’s latest rate decision and Chair Jerome Powell’s speech signaled the central bank sees work left to do in its battle against inflation.v
The S&P 500 and the Nasdaq 100 erased earlier gains after the Fed raised its benchmark rate by half a percentage point and Powell restated his hawkish stance. Dow and Nasdaq Composite slipped over half percent each.
Asian stocks followed US equities lower after the Federal Reserve signaled interest rates will climb higher than anticipated next year.Japanese, South Korean and Australian shares marginally decline nearly 0.2% each.
European stocks were marginally in the red at close of trading on Wednesday after the U.S. Federal Reserve signaled that it plans to continue raising interest rates next year. UK, Germany and France Index slipped quarter percent each but fell 1% from the intra-day high.
Brent Crude surged 4% to $82/bbl concern of bad weather in US delayed initial efforts to restart a key pipeline. The IEA warned that oil prices could rise next year as the full impact of Russian sanctions is absorbed by the market.
Gold prices edge marginally at $1803/ounce down after the U.S. Federal Reserve signaled that it plans to continue raising interest rates next year
Actionable - SBI, Bikaji Foods, RVNL, Hindalco, Poonawalla Fincorp
Brokers Radar – LIT-Mintree TGT by CLSA at 4900, CLSA TGT on Insurance sectors - HDFC Life at 710, SBI Life at 1650, MAX Life at 970.
Events – Weekly Nifty and Bank Nifty expiry. PVR and Inox Board meeting for merger
Corporate Action - RCF Ex-dividend Rs2.50 and Sukhjit Starch & Chemicals ex-dividend Rs8, Take Solution Board Meting
Global Data – Retail sales, initial jobless claims, Manufacturing Production and Empire Manufacturing (US). ECB Interest Rate decision (Europe Central Bank), CPI (France). WPI (Germany). Bank of England Rate decision (UK). New Home Price, IIP, Retail sales (China)
Market Summary – Government to sell up to 5% stake in railway unit IRCTC
, Poonawalla Fincorp to sell its housing arm to TPG for ₹4k cr, Tata Communications Ltd enters into BTA to hive off non-network IoT business, Mahindra to Invest $1.2B to Set Up EV Plant in Pune, WPI Inflation Falls To 21-Month low, HDFC Bank Buys Minority Stake In Fintech Startup Mintoak Innovations, Deadline For Submitting EoIs For IDBI Bank extended, BSE and NSE approve HDFC, HDFC Bank merger
Expects market to open on a weak note on account of global cues after the US Federal Reserve Chair Jerome Powell reiterated his hawkish stance on its policy-meeting outcome and raised interest rates by an expected 50bps at 4.25 percent to 4.5 percent, its highest level in 15 years. US stocks turned lower over half percent on a highly volatile sessions after the Fed’s latest rate decision and Chair Jerome Powell’s speech signaled the central bank sees work left to do in its battle against inflation. Its updated economic projections published on Wednesday showed that the central bank now sees its benchmark rates rising to a median level of 5.1 percent in 2023, above the 4.6 percent forecast back in September, suggesting a target range of 5 percent to 5.25 percent, or roughly another 75 basis point rate hikes ahead. Asian market declined marginally and US Future is up quarter percent. SGX Nifty slipped by 60 points or 0.3%. However, interesting point that the US CBOE volatility index slipped by 10% and Dollar Index fell to 6-month low to below 104. Back home, positive sentiment in the market on account November Retail inflation fell to 11-month low and Wholesale inflation declined to 21-month. Traders buy on decline strategy in the market and focus on PSU, Metal and Real Estate stocks. Today, ECB and Bank of England will announce interest rate decision.
US stocks turned lower after the Federal Reserve’s latest rate decision and Chair Jerome Powell’s speech signaled the central bank sees work left to do in its battle against inflation.v
The S&P 500 and the Nasdaq 100 erased earlier gains after the Fed raised its benchmark rate by half a percentage point and Powell restated his hawkish stance. Dow and Nasdaq Composite slipped over half percent each.
Asian stocks followed US equities lower after the Federal Reserve signaled interest rates will climb higher than anticipated next year.Japanese, South Korean and Australian shares marginally decline nearly 0.2% each.
European stocks were marginally in the red at close of trading on Wednesday after the U.S. Federal Reserve signaled that it plans to continue raising interest rates next year. UK, Germany and France Index slipped quarter percent each but fell 1% from the intra-day high.
Brent Crude surged 4% to $82/bbl concern of bad weather in US delayed initial efforts to restart a key pipeline. The IEA warned that oil prices could rise next year as the full impact of Russian sanctions is absorbed by the market.
Gold prices edge marginally at $1803/ounce down after the U.S. Federal Reserve signaled that it plans to continue raising interest rates next year
Actionable - SBI, Bikaji Foods, RVNL, Hindalco, Poonawalla Fincorp
Brokers Radar – LIT-Mintree TGT by CLSA at 4900, CLSA TGT on Insurance sectors - HDFC Life at 710, SBI Life at 1650, MAX Life at 970.
Events – Weekly Nifty and Bank Nifty expiry. PVR and Inox Board meeting for merger
Corporate Action - RCF Ex-dividend Rs2.50 and Sukhjit Starch & Chemicals ex-dividend Rs8, Take Solution Board Meting
Global Data – Retail sales, initial jobless claims, Manufacturing Production and Empire Manufacturing (US). ECB Interest Rate decision (Europe Central Bank), CPI (France). WPI (Germany). Bank of England Rate decision (UK). New Home Price, IIP, Retail sales (China)
Market Summary – Government to sell up to 5% stake in railway unit IRCTC
, Poonawalla Fincorp to sell its housing arm to TPG for ₹4k cr, Tata Communications Ltd enters into BTA to hive off non-network IoT business, Mahindra to Invest $1.2B to Set Up EV Plant in Pune, WPI Inflation Falls To 21-Month low, HDFC Bank Buys Minority Stake In Fintech Startup Mintoak Innovations, Deadline For Submitting EoIs For IDBI Bank extended, BSE and NSE approve HDFC, HDFC Bank merger
👍1
Profit booking in Markets ahead of Christmas vacations by some Fii's. Need to keep watch on the Exit plans of open positions either by profit booking or hedging or trail sl.
@AlliesFin
@AlliesFin
👍1
*SGX Nifty -46 pts (18400) from last trade 18446 ,*
Nikkei -444 pts ,
Hangseng -25 pts ,
Around @ 6.54am .
Dow -764.13 pts ,Nsdq -360.36 pts, S&P
-99.57 pts , Bovespa -8 pts , Ftse -69 pts , Dax -473 pts , Cac -208 pts , Crude @ $76.25 brl (+0.14), Brent @ $81.45 brl (-1.25) , Gold @ 1786.40 (-1.40), Silver @ $23.255 (-0.04), Euro @ $1.0634, JPY @ $137.74, INR @ 82.845
*Today's Corporate Action*
*16th Dec Ex Date*
APCL
Right Issue of Equity Shares
CLEDUCATE
Bonus issue 1:1
GLOSTERLTD
Bonus issue 1:1
LANCER
Stock Split From Rs.10/- to Rs.5/-
STARHFL
Bonus issue 1:1
STARHFL
Stock Split From Rs.10/- to Rs.5/-
STCORP
Stock Split From Rs.10/- to Rs.2/-
THAMBBI
Right Issue of Equity Shares
*Today's Key Results/Board Meetings*
*16-Dec-22*
ADVANIHOTR
Interim Dividend;General
EVANS
Increase in Authorised Capital;General
JAIHINDS
General
MURUDCERA
Issue Of Warrants
SHREESEC
Stock Split
*Stock under F&O ban on NSE*
*16-Dec-22*
1 BHEL
2 DELTACORP
3 GNFC
4 IBULHSGFIN
5 IRCTC
6 PNB
Nikkei -444 pts ,
Hangseng -25 pts ,
Around @ 6.54am .
Dow -764.13 pts ,Nsdq -360.36 pts, S&P
-99.57 pts , Bovespa -8 pts , Ftse -69 pts , Dax -473 pts , Cac -208 pts , Crude @ $76.25 brl (+0.14), Brent @ $81.45 brl (-1.25) , Gold @ 1786.40 (-1.40), Silver @ $23.255 (-0.04), Euro @ $1.0634, JPY @ $137.74, INR @ 82.845
*Today's Corporate Action*
*16th Dec Ex Date*
APCL
Right Issue of Equity Shares
CLEDUCATE
Bonus issue 1:1
GLOSTERLTD
Bonus issue 1:1
LANCER
Stock Split From Rs.10/- to Rs.5/-
STARHFL
Bonus issue 1:1
STARHFL
Stock Split From Rs.10/- to Rs.5/-
STCORP
Stock Split From Rs.10/- to Rs.2/-
THAMBBI
Right Issue of Equity Shares
*Today's Key Results/Board Meetings*
*16-Dec-22*
ADVANIHOTR
Interim Dividend;General
EVANS
Increase in Authorised Capital;General
JAIHINDS
General
MURUDCERA
Issue Of Warrants
SHREESEC
Stock Split
*Stock under F&O ban on NSE*
*16-Dec-22*
1 BHEL
2 DELTACORP
3 GNFC
4 IBULHSGFIN
5 IRCTC
6 PNB