Market Highlights

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Get the latest Indian stock / share market highlights, BSE/NSE stock news, business research reports & details - updated daily by Money Times.

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December 12, 2024

• Bondada Engineering Aims To Double Revenue, CAGR Annually Over Next Three Years On Strong Order Book https://www.ndtvprofit.com/business/bondada-engineering-revenue-target-cagr-strong-order-book
• AMI ORGANICS: The Board approved a ₹177 crore capital expenditure for the Jhagadia brownfield project to automate operations and build utilities, storage, and packaging facilities.
• Proposed Capacity; 4000 MT / year for electrolyte additives products
• Capacity to be added By the H1 of FY 2025-26
• Capital expenditure approved for capacity addition at the Jhagadia brownfield project to automate operations and build utilities, storage, and packaging facilities.
• GLAND PHARMA: Gland Pharma receives USFDA approval for Phytonadione Injectable Emulsion USP (Vitamin K1), bioequivalent to Hospira's product.
• Indicated for coagulation disorders, it will launch soon through marketing partners.
• US sales reached $15 million (Sept 2024).
• NAVA: Update on CBI case involving the Managing Director of the Company
• Today Special Judge Released all, including Mr. P. Trivikrama Prasad, MD of Nava Limited, from all charges in the Coal Block Cases.
• STRIDES: UPDATE ON DEMERGER
• In line with the Share Entitlement Ratio, OneSource has allotted One Equity Share of Re. 1/- each of OneSource for every Two Equity Shares of Rs. 10/- held by Strides’ shareholders.
• OneSource is in the process of filing Information Memorandum with the Stock Exchanges during December 2024 and is expecting to receive Listing Approval from the Stock Exchanges during Q4 FY 25.
• KSOLVES: Board Meet On 20 Dec To Consider Stock SPLIT
• SHRIRAM FINANCE: Shriram Finance Limited Concludes Transfer of Shriram Housing Finance Limited to Warburg Pincus for Rs 3929 Cr
• Post this transaction, Co. is well-
• positioned to further expand its operations and accelerate its growth under Warburg Pincus’ ownership and guidance.
• RAMA STEEL: The Board approved the subscription of a 24.80% stake in Bigwin Buildsys Coated Pvt. Ltd. for ₹5.65 crore, through the issuance of fresh equity shares of Rama Steel Tubes Ltd.
• Co. To Issue 40,32,126 Shares To M/ s Bigwin Buildsys @ ₹ 14/Share
• M/ s Bigwin Buildsys is engaged in inter-alia in the business of green energy solution specially in Solar Structures.
• The acquisition of the M/s Bigwin Buildsys Coated Private Limited as envisaged will help in diversification of business in the field of Green Energy Solutions specially in Solar Structures
• Bigwin Buildsys TURNOVER
• FY 2021-22: Rs. 44.03/- Crore
• FY 2022-23: Rs. 28.87/- Crore
• FY 2023-24: Rs. 23.25/- Crore
• HYUNDAI MOTORS: The company was accused of excess royalty payments in FY 2007-08/AY 2008-09, leading to a Transfer Pricing adjustment.
• The appeal resulted in a reduced adjustment from ₹86.88 crore to ₹21.83 crore.
• Company is of the view that there will be no material impact on financial, operation or other activities of the company due to this ITAT Order.
• PC JEWELLERS: Board Approved Issuance of 5,17,11,462 equity shares (₹10 each) via preferential allotment to Consortium Lenders under the 'Non-Promoter, Public Category' for settling part of outstanding debts, per the Joint Settlement Agreement
• The issue price and share quantity will be adjusted post-record date (December 16, 2024) for the sub-division of shares from ₹10 to ₹1 each.
• AEROFLEX IND: Board Meet On 14 Dec To Consider Fund Raising
• SHRADHA INFRA: Active Infrastructures Limited (AIL), a subsidiary of Shradha Infraprojects Limited, has re-filed its draft Red Herring prospectus with NSE [SME e-merge Platform] for an IPO of up to 43,00,200 equity shares.
• Copied from stockaajorkal telegram channel
• NOTE ; Shradha Infraprojects holds 99.99% of AIL's pre-issue capital.
• WAAREE ENERGIES: WINS ORDER
• Waaree Forever Energies Private Limited a wholly owned subsidiary of the Company has today received Letter of Award (LoA) for the development of 170 MW Solar power plant in Madhya Pradesh, from Rewa Ultra Mega
• Solar Limtied (RUMSL).
• The Solar power plant will enable the generation and transmission of clean energy via the Inter-State Transmission System (ISTS).
• Copied from stockaajorkal telegram channel
• The project will supply renewable energy to Madhya Pradesh Power Management Company Ltd and Indian Railways thus contributing significantly to India’s renewable energy goals.
• 4th Interim Dividend ?
• Vedanta Board to meet on 16 December, 2024 to consider and approve the fourth interim dividend.
• Record date for dividend if declared will be 24 December, 2024.
• STOCK IN F&O BAN LIST FOR 12 DEC
• STILL IN BAN
• GRANULES
• MANAPPURAM
• METROPOLIS
• PVRINOX
• RBLBANK
• NEW ENTRY
• HINDCOPPER
• EXIT ; NIL
• RITCO LOGISTICS MONTHLY BIZ UPDATE
• Ritco Wins 120 Crore Contract with Haldia Petrochemicals: Ritco secures a significant road transport contract, reinforcing its position in the petrochemical logistics sector.
• Logistics Deal with Mahadhan AgriTech: Ritco lands a 2115 crore contract from Mahadhan AgriTech, solidifying its service excellence in the West Zone.
• P&G Partnership in South Zone: Ritco secures a major logistics contract with Procter & Gamble, emphasizing its global operational capabilities.
• Expanding in Key Sectors: Ritco strengthens its portfolio in coal, steel, polymer, and plastics by onboarding top-tier customers.
• Blue Star Collaboration: Ritco begins logistics operations for Blue Star Ltd. in the North Zone, marking another milestone.
• Three Work Orders from Sandur Manganese: Ritco wins three major contracts for transporting 20,000 MT of coal from Sandur Manganese in the South Zone.
• Multimodal Transportation Growth: Ritco restructures to drive growth in multimodal transportation with a new industry expert leading the department.
• STOCKS MOVED TO SHORT TERM ASM LIST
• A2Z Infra Engineering Ltd
• Amic Forging Ltd
• Deepak Chemtex Ltd
• Greaves Cotton Ltd *
• Indo Us Bio-Tech Ltd *
• Kernex Microsystems India Ltd *
• Mahalaxmi Rubtech Ltd *
• Mishtann Foods Ltd
• Raghunath International Ltd
• Raghunath Tobacco Company Ltd
• Shilp Gravures Ltd
• Spectrum Foods Ltd
• Sujala Trading & Holdings Ltd
• Swashthik Plascon Ltd
• Syschem India
• The Phosphate Company
• STOCKS OUT FROM SHORT TERM ASM LIST
• Anand Rayons Ltd
• Apeejay Surrendra Park Hotels Ltd
• Apoorva Leasing Finance
• Benara Bearings and Pistons Ltd
• BFL Asset Finvest Ltd
• Bhandari Hosiery Exports Ltd
• Bliss GVS Pharma Ltd
• Chemo Pharma Laboratories Ltd
• Fiberweb India Ltd
• Lactose India Ltd
• Maximus International Ltd
• Monind Ltd *
• Nelco Ltd
• Olympic Cards Ltd
• Orient Technologies Ltd
• Panjon Ltd *
• Pudumjee Paper Products Ltd
• Response Informatics Ltd
• Shradha AI Technologies Ltd $
• Shree Pushkar Chemicals
• Siyaram Silk Mills Ltd
• Superior Industrial Enterprises
• Tolins Tyres Ltd
• Veejay Lakshmi Engineering
• Ventura Textiles Ltd *
• Q2FY25 GDP number is here -
• Actual - 5.4%
• CNBC TV18 Poll - 6.5%
• NASDAQ HITS 20,000 FOR FIRST TIME
• BEAT THE STREET BULLETIN
• Date: 11-Dec-24 (PART 2)
• NEW ORDERS & CONTRACTS
• - WAAREE ENERGIES: Waaree Forever Energies, a wholly owned subsidiary, receives a Letter of Award for the development of a 170 MW solar power plant in Madhya Pradesh from Rewa Ultra Mega Solar Limited (RUMSL). The project will generate clean energy for Madhya Pradesh Power Management Company Ltd and Indian Railways.
• - CWD LIMITED: Announced a new purchase order for Sound Boxes from one of India’s top 3 NBFCs. Over 50 million customers will benefit from the nationwide deployment of the product.
• CORPORATE UPDATES & ANNOUNCEMENTS
• - KOTHARI INDUSTRIAL: Board approved the issuance of 3.52 crore equity shares at ₹25 each, totaling ₹88 crore on a preferential basis to promoters and non-promoters. The Board also approved acquiring 30.70% of Mr. Rafiq Ahmed’s stake in Phoenix Kothari Footwear Ltd.
• - AMI ORGANICS: Board approved a ₹177 crore capital expenditure for the Jhagadia brownfield project, focusing on automating operations and expanding capacity to 4000 MT/year for electrolyte additives products by H1 FY 2025-26.
• - GLAND PHARMA: Receives USFDA approval for Phytonadione Injectable Emulsion USP (Vitamin K1), bioequivalent to Hospira’s product, which is indicated for coagulation disorders. US sales reached $15 million as of September 2024.
• - NAVA: Update on CBI case involving the Managing Director. Special Judge releases all, including Mr. P. Trivikrama Prasad, from all charges in the Coal Block Cases.
• - STRIDES: OneSource has allotted equity shares in line with the Share Entitlement Ratio for Strides’ shareholders. OneSource expects listing approval from the Stock Exchanges in Q4 FY 2025.
• - PC JEWELLERS: Board approved the issuance of 5,17,11,462 equity shares via preferential allotment to Consortium Lenders under the 'Non-Promoter, Public Category' for debt settlement. Share quantity and issue price to be adjusted post-record date (Dec 16, 2024) for share subdivision from ₹10 to ₹1 each.
• - SHRIRAM FINANCE: Concludes the transfer of Shriram Housing Finance Ltd. to Warburg Pincus for ₹3929 crore, positioning the company for further growth under Warburg Pincus’ ownership.
• STRATEGIC PARTNERSHIPS & AGREEMENTS
• - RAMA STEEL: Board approved the subscription of a 24.80% stake in Bigwin Buildsys Coated Pvt. Ltd. for ₹5.65 crore, marking a diversification into green energy solutions, especially solar structures.
• INFRASTRUCTURE & EXPANSIONS
• - AMI ORGANICS: Capital expenditure approved for expanding the Jhagadia brownfield project, expected to add 4000 MT/year capacity for electrolyte additives by H1 FY 2025-26.
• RESTRUCTURING & OPERATIONAL SHIFTS
• - KOTHARI INDUSTRIAL: Board approves acquisition of 30.70% stake in Phoenix Kothari Footwear Ltd.
• - HYUNDAI MOTORS: Reduced transfer pricing adjustment in an ITAT appeal for FY 2007-08/AY 2008-09 from ₹86.88 crore to ₹21.83 crore. Company expects no material impact on financials.
• FUNDRAISING UPDATES
• - AEROFLEX IND: Board to meet on 14 Dec to consider fundraising options.
• - SHRADHA INFRA: Active Infrastructures Ltd. re-files its draft Red Herring Prospectus for an IPO of up to 43,00,200 equity shares on the NSE SME e-merge platform.
• REGULATORY & LEGAL UPDATES
• - PC JEWELLERS: Issuance of equity shares for debt settlement under the Joint Settlement Agreement, with share subdivision to follow post-record date (Dec 16, 2024).
• STRATEGIC BUSINESS DEVELOPMENTS
• - SHRIRAM FINANCE: Concludes transfer of Shriram Housing Finance Ltd. to Warburg Pincus for ₹3929 crore.
• SECURITY & COMPLIANCE
• - VEDANTA: Board to meet on 16 Dec 2024 to consider the fourth interim dividend. Record date for dividend (if declared) will be 24 Dec 2024.
• Stay Updated With
• BEAT THE STREET
• India Daybook – Stocks in News
• Godawari Power: Company enters into an agreement with GAIL for supply of RLNG Gas. (Positive)
• Greaves Cotton: Company approves OFS of certain shares of arm Greaves Electric held by the company in the proposed IPO (Positive)
• ACME Solar: Company bags 250 MW FDRE (Firm & Dispatchable Renewable Energy) project from NHPC (Positive)
• Emmforce Autotech: Company receives a large order worth Rs 470 crore from a US company. (Positive)
• Shakti Pumps: Company secures Rs 754.30 crore contract from Maharashtra State Electricity Distribution Company Limited for 25,000 solar water pumps. (Positive)
• Reliance Power: Reliance NU Suntech, a Company’s subsidiary, secured India's largest solar energy and battery storage project from SECI at Rs 3.53/kWh (Positive)
• Pilani Investment: Company submits application with RBI for conversion of the company from Non-Banking Financial Company to Core Investment Company (Positive)
• CWD Limited: Company has received an order with a potential of reaching Rs. 24 Crores. (Positive)
• Rudra Global Infra: Company signed a Letter of Intent with Opera Energy Pvt. Ltd. to install a 3.3 MW wind power project for ₹32.28 crore. (Positive)
• United Drill Tools: Company has been awarded an order worth INR 1,486.62 MN from Vedanta Limited. (Positive)
• Afcons Infrastructure: JV with Hindustan Project has been declared as lowest bidder (L1) for the Water Supply Project of 353 villages worth of Rs 504 crore (Positive)
• KSolves: To consider stock split of equity shares (Positive)
• Vedanta: Company to consider fourth interim dividend on December 16 (Positive)
• Indian Overseas Bank: Company receives order of refund of ₹808.3 crores from income tax department for AY 2013-14 (Positive)
• Gland Pharma: Company receives USFDA approval for Phytonadione Injectable Emulsion. (Positive)
• PC Jeweller: Company to issues 5.2 cr equity share to consortium lenders, at an issue price of ₹292/sh (Positive)
• Waaree Energies: Company receives LoA for the development of 170 MW solar power plant in Madhya Pradesh from Rewa Ultra Mega Solar (Positive)
• Nalco/Hindalco: Government may consider addressing inverted duty structure for certain aluminum goods in Budget according to media sources (Positive)
• Shriram Finance: Company completes sale of entire 84.4% stake in arm Shriram Housing Finance to Warburg Pincus for ₹3,929 cr (Neutral)
• Sona BLW Precision: Amit Dixit, Director of Company, resigned on December 11, 2024. (Neutral)
• Shiva Cement: Company amended its MoU with Bhushan Power & Steel Ltd. (Neutral)
• Usha Martin Ltd: Company announced the completion of its subsidiary Usha Martin Americas Inc.'s acquisition of 2.02% stake in Usha Siam Steel Industries Public Company Limited from Kobelco Wire Company Limited (Neutral)
• Embassy Office Parks REIT: Company approved issuance of NCDS aggregating Rs 10 billion (Neutral)
• Swiggy: Company launches One BLCK, Premium membership for convenience and dining (Neutral)
• Sammaan Capital: Company board approves fund raise of up to Rs 2,500 crore via QIP. (Neutral)
• Varroc Engineering: Singapore tribunal passed order in matter beste motors Company (Neutral)
• IDFC FIRST Bank: India Ratings affirmed Bank's debt instruments at IND AA+/Stable. (Neutral)
• Grasim Industries: Company approves ₹2,000 Crore Debenture Issuance. (Neutral)
• Poonawalla Fincorp: Mr. Dhiraj Saxena resigned from Company on Sep 6, 2024 (Neutral)
• Usha Martin: Company’s subsidiary, Usha Martin Americas Inc., will acquire 2.02% stake in Usha Siam Steel Industries. (Neutral)
• Ami Organics: Company approves enhancement in capital expenditure of ₹177 cr for its brownfield project of electrolytes additives products. (Neutral)
• Yes Bank: RBI approves appointment of Manish Jain as Executive Director of YesBank for 3 years (Neutral)
• Nuvama Wealth: EdelFinance, EcapEquities likely to sell 7.1% stake in the co via block deals, at a floor price of ₹6,800/sh. (Neutral)
• AGEL: Adani Group seeks to refinance $1.1 billion loan for AGEL amidst market volatility and legal challenges. (Neutral)
• Neuland Labs: Block deal 3.8% equity worth Rs 747 Cr, Floor price at Rs 15428/Sh. (Neutral)
• Adani Ports: Company achieves record-breaking milestones at Dhamra Port, Odisha. (Neutral)
• IRFC: Company received a ₹230.55 crore GST demand order from the Assistant Commissioner (ST), Chennai. (Negative)
• Gopal Snacks: Company reported a significant fire incident at its Rajkot production unit (Negative)
• Nomura On Ceat
• Neutral Call, Target At Rs3,051/Sh
• Mgmt Noted That Camso Acquisition Is In-line With Stated Ambitions Of Premiumisation
• Camso Acquisition Is For Share Growth Of Its International & High-Margin Speciality Biz
• Margin Should Improve To 20% In A Few Years As Demand Picks Up & Cost Rationalisation
• Management Expects The Acquisition To Be EPS-Accretive Over The Next 1-2 Years
• HSBC On Real Estate
• Hold Call On Oberoi Realty, As Interest Rate Cuts & Launches Support Stock Performance
• Maintain Buy Call On Godrej Properties, DLF & Sobha
• Expect Strong Pre-sales Base To Impact Sales Momentum In 2025 With Q1 Mega Launches
• Expect Demand Shift To More Mid-income Levels, Which Has Implications For Sales Value & Margin
• MS On Steel
• Overweight Call On JSPL, Target At Rs1,200/Sh
• Overweight Call On JSW Steel, Target At Rs1,150/Sh
• Equal-Weight Call On Tata Steel, Target At Rs160/Sh
• Underweight Call On SAIL, Target At Rs115/Sh
• See Greenshoots For Spreads Expansion In 2025
• Inventory De-Stocking Has Started, & Should Be Supported By Improved Demand Outlook
• Key To Watch Will Be Pace Of Demand Recovery In China
• Expect Select Stocks To Do Well In 2025
• Antique On Rallis
• Sell Call, Target At Rs310/Sh
• Over Next 5-6 Yrs Co Aims To Double Pan-India Market Share From Mid-Single Digit
• Improving On-ground Presence And Strengthening Marketing Efforts
• In Seed Business, Rallis Is Envisaged To Double Revenue Over Next Five Years
• Management Is Optimistic About Domestic Demand During H2FY25 Driven By Good Rabi Season
• Believe Rallis Is On Right Track For Long Term, However, Execution Remains Key Monitorable
• Believe Optimism Is Already Priced Into Stock Price
• Macquarie On L&T
• Outperform Call, Target At Rs4,210/Sh
• West Asia - E&C Prospects Continue To Look Good
• Domestic State Capex - L&T Remains Selective
• Domestic Central Gov't Capex Should Pick Up Hereon
• L&T's New Initiatives With Sizeable Medium Term Scale-Up Potential
• GS On CONCOR
• Sell Call, Target Cut To Rs710/Sh
• Believe Co’s Results Have Further Downside Risk Driven By Weak Growth For Rail Container Traffic
• There Are Market Share Concerns Amid Rising Competition
• Think The Earnings Downgrade Cycle Is Likely To Continue
• Despite Recent Correction, See More Downside
• Co’s H1 Volume Growth Of 6% YoY Was Weak
• With Current Runrate Of Rail Container Traffic For Oct/Nov Being Similar, See Guidance As Ambitious
• Macquarie on Delhivery
• O-P, TP Rs 460
• Management explained specifics around why co remains cheapest logistics service provider globally
• CO now looking to drive market share gains with pricing actions
• Co has a cash balance of $650m & co views it as strategic moat compared to peers
• JPM on Cement
• Media articles suggest cement price hike by Rs5-50/bag across India
• To corroborate, called a few cement dealers across country.
• Some price increases have indeed been implemented, but feedback from North / West was more muted, both on prices & demand
• Most dealers expressed caution though - waiting to see if these hikes persist, or if they need to be rolled back in case demand does not improve.
• Prefer UTCEM (on consolidation), & ACC (on valuations + better price momentum in South)
• Macquarie on India Consumer & Lifestyle
• Titan remains preferred pick, followed by ITC and Marico
• Category expansion and continued aggression from Q-com players remain as risk to DMart and Nykaa
• Near term volume growth rates likely to remain weak, see risk to earnings for consumer staples
• Volume trends to remain similar/slightly weaker in Q3 vs Q2
• Titan not as same risk as Asianpaint from Birla Group entry
• Quick commerce players are expanding in product categories
• Policy makers suggesting exploration of means to compensate urban consumer
• Jefferies on Midcaps
• Key raw material prices trends-
• Copper price dipped by 9% over Oct-mid Nov, but stabilizing since
• Cable and Wire prices were cut 5% in mid November
• Channel destocking could impact interim volumes
• Copper stability can aid pick up with H2 capex recovery
• Key plays are HAVELLS, FINCABLES and POLYCAB
• PVC prices rose 5% over Oct-Nov to Rs 78/kg
• Bode well for margins for ASTRAL, SUPREMEIND
• Axis Capital on Hotel Sector
• INDHOTEL - Initiate Buy with target price of Rs 976
• CHALET - Initiate Buy with target price of Rs 1191
• JUNIPER - Initiate Buy with target price of Rs 442
• LEMONTREE - Initiate Add with target price of Rs 153
• Believe current upcycle in the Indian hotel industry can last longer
• Supply addition forecast for FY24-27E at 9% CAGR is much lower than demand of 12%
• Demand reasonable compared to the previous cycle (2008-15) growth of 15%, which led to oversupply in the market
• Hotel demand is driven by structural factors
• See more business travel due to better corporate earnings
• Domestic travel boosted by higher disposable income
• Increase in wedding spends and MICE
• Return of foreign visitors
• Hotel stocks have re-rated significantly in the past year, led by IHCL
• Other listed hotel stocks are yet to catch up and look attractive
• Navigating the Opening Bell with Sbi Securities: 6 Key Technical and Derivative Insights
• Nifty Consolidates while Midcaps and Smallcaps continue to Shine !!
• 1. Global Market:
• On Wednesday, most U.S. indices experienced a strong rebound. Notably, the tech-heavy #Nasdaq made a significant move, closing above the psychological mark of 20000 for the first time. The #S&P 500 also surged by nearly 1 percent. However, the #Dow ended on a negative note. The broader market strength was driven by the release of consumer price inflation data that aligned with expectations.
• Going ahead, for the S&P 500, the 20-day EMA zone of 6020-6000 will act as immediate support for the index. While, on the upside, any sustainable move above the level of 6100 will lead to a sharp upside rally in the index.
• On Wednesday, #BrentOil surged by over 2 percent and ended above its 20-day EMA level. Going ahead, the zone of $73.80-74 will act as an immediate hurdle for the Brent Oil. While on the downside, $72.20-72 will act as crucial support.
• The U.S. Dollar Index (#DXY) ended at 106.62 level with a gain of 0.23 percent. Going ahead, any sustainable move above the level of 107 will lead to sharp upside rally upto the level of 107.50.
• 2. Nifty View:
• On Wednesday, the benchmark index Nifty traded within a tight range of just 107 points, marking its narrowest daily range since November 1, 2024. The session concluded on a flat note, with the index forming a small-bodied candle. Notably, this was the fourth consecutive session where Nifty remained range-bound and displayed indecision through similar candle formations.
• However, the major trend of the index remains bullish as it continues to trade above its short and long-term moving averages. Momentum indicators and oscillators have been fluctuating within a range over the last three trading sessions, reflecting a consolidation phase.
• Going ahead, the zone of 24500-24480 will act as immediate support for the index. If the index slips below the level of 24480, then the next support is placed at 24330 level.
• While, on the upside, any sustainable move above the level of 24720 will lead to resume its northward journey. In that case, it is likely to test the level of 24850, followed
• by 25000 in the short term.
• On the #derivatives front, December #futures ended higher by 0.21 percent, while the combined #OpenInterest for the current, next, and far series dipped by 0.25 percent.
• Among the constituents of the #Nifty index, 15 stocks have witnessed a long build-up, and 15 stocks have witnessed a short covering rally. While 11 stocks have witnessed a short build-up and 9 stocks have witnessed a long unwinding.
• The 24700 strike has significant call open interest, followed by the 24800 strike. On the put side, 24600 has a substantial open interest, followed by a 24500 strike.
• For the weekly series, OI PCR is at 0.71, and the max pain is at 24600 strike. While, for the December monthly series, OI PCR is at 1.21.
• 3. Bank Nifty View:
• The Bank Nifty also experienced a narrow trading range of 345 points, forming an indecisive candle on the daily chart. Remarkably, for the fourth consecutive session, the index remained confined within last Thursday’s candle range. Notably, it has displayed indecisive candle formations across all four trading sessions, reflecting a continued lack of directional clarity.
• Despite the low volatility, the major trend remains bullish as the index continues to trade above its short and long-term moving averages.
• Going ahead, the zone of 53600-53700 will act as an immediate hurdle for the index. Any sustainable move above the level of 53700 will lead to a sharp upside rally upto the level of 54200, followed by 54600 in the short-term.
• While, on the downside, the zone of 53200-53100 will act as immediate support for the index.
• On the #derivative front, December #futures dipped by 0.26 percent, and the cumulative #OpenInterest of current, next, and far series has surged by 0.57 percent.
• The 53500 strike has significant call open interest, followed by the 54000 strike. On the put side, 53000 has a substantial open interest, followed by a 52500 strike.
• For the December monthly series, OI PCR is at 0.94.
• 4. Key Market Indicators:
• On Wednesday, the volatility index, India VIX, declined by nearly 4%, marking its lowest daily closing level since October 18, 2024. This significant drop reflects subdued market volatility, indicating a period of relative calm and stability in the market sentiment.
• The #Advance/Decline ratio is slightly tilted in favor of advancers on Wednesday.
• 5. Key Sectors:
• Despite consolidation in the frontline indices, the Nifty Midcap and Nifty Small Cap indices continue to outperform strongly. Therefore, we recommend focusing on stock-specific opportunities within these segments.
• Apart from this, Nifty IT, Nifty Consumer Durable, Nifty Private Banks, Nifty PSU Bank, Nifty Financial Services, Nifty Metal and Nifty Realty are likely to outperform in the short-term.
• While, Nifty FMCG and Nifty Auto are likely to underperform in the short-term.
• 6. FII/DII Data:
• #FIIs sold to the tune of 1012.24 cr. while #DIIs bought to the tune of 2007.85 cr.
• FIIs' #Long-short ratio for index futures is at 43.39 as on a net basis, they sold 1016 index futures.
• On the stock #futures front, FIIs have sold to the tune of 26320 contracts, while on the #Options Front, FIIs bought 25588 call contracts and sold 32148 Put Option contracts.
• ACTION FOR DAY
• India: CPI (India CPI Inflation Likely to decline to 5.5% Nov vs 6.2% in Oct (was 14-m High)
• U.S: initial jobless claims
• Eurozone: ECB rate decision
• NHPC board to mull fundraising
• Inventurus Knowledge Solutions IPO opens
• Stay updated with Beat the Street
• MACQUARIE ON INDIA CONSUMER & LIFESTYLE
• Titan remains preferred pick, followed by ITC and Marico
• Category expansion and continued aggression from Q-com players remain as risk to D-Mart and Nykaa
• JEFFERIES ON MIDCAP
• Key raw material prices trends
• Copper price dipped by 9% over Oct-mid Nov, but stabilizing since
• Cable and Wire prices were cut 5% in mid November
• Channel destocking could impact interim volumes
• Copper stability can aid pick up with H2 capex recovery
• AWFIS : LARGE TRADE NSE
• BISQUE LIMITED SOLD 31.8 LKH SHARES ( 4.52 % STAKE ) @ ₹ 709.90/SHARE
• PEAK XV PARTNERS INVESTMENTS V SOLD 26.75 LKH SHARES ( 3.8 % STAKE) @ ₹ 709.90
• BUYERS @ 709.9/SHARE
• SOCIETE GENERALE BUYS 4.19 LKH SHARES ( 0.59 % STAKE ) @ ₹ 709.90
• WHITEOAK CAPITAL MUTUAL FUND BUYS 5.63 LKH SHARES ( 0.80 % STAKE ( @ ₹ 709.90
• UTI AMC BUYS 7.59 LKH SHARES (1.08 % STAKE )
• NIPPON INDIA MUTUAL FUND BUYS 7.74 LKH SHARES ( 1.1 % STAKE )
• NEW YORK STATE TEACHERS RETIREMENT SYSTEM BUYS 51K SHARES
• MORGAN STANLEY ASIA SINGAPORE PTE BUYS 2.79 LKH SHARES ( 0.39 % STAKE )
• INVESCO MUTUAL FUND BUYS 10.84 LKH SHARES ( 1.54 % STAKE )
• HSHK ASIAN SMALL CAPS BUYS 2.04 LKH SHARES (0.29 % STAKE)
• GOLDMAN SACHS FUNDS - GOLDMAN SACHS INDIA EQUITY PORTFOLIO BUYS 8.7 LKH SHARES ( 1.23 % STAKE)
• CITIGROUP GLOBAL MARKETS MAURITIUS PRIVATE LIMITED BUYS 1.4 LK SHARES ( 0.19 % STAKE )
• AB LIFE INSURANCE BUYS 9.79 LKH SHARES ( 1.39 % STAKE)
• ASHOKA WHITEOAK ICAV - ASHOKA WHITEOAK INDIA OPPORTUNITIES FUND BUYS 9.15 LKH SHARES (1.3 % STAKE )
• AXIS MUTUAL FUND BUYS 5.91 LKH SHARES (0.84 % STAKE )
• CANARA ROBECO MUTUAL FUND BUYS 2.67 LKH SHARES (0.38 % STAKE )
• INDIA ACORN FUND LTD BUYS 70 K SHARES
• MEDIOLANUM BEST BRANDS- MEDIOLANUM INDIA OPPORTUNITIES BUYS 63 K SHARES
• NEW YORK STATE TEACHERS RETIREMENT SYSTEM BUYS 51 K SHARES
• EMAMI REALTY : LARGE TRADE NSE
• INVESTOR LAROIA MONA BUYS 2 LKH SHARES ( 0.52 % STAKE ) @ ₹ 157.16/SHARE
• HSBC ON REAL ESTATE
• Hold Call On Oberoi Realty, As Interest Rate Cuts & Launches Support Stock Performance
• Maintain Buy Call On Godrej Properties, DLF & Sobha
• Expect Strong Pre-sales Base To Impact Sales Momentum In 2025 With Q1 Mega Launches
• Expect Demand Shift To More Mid-income Levels, Which Has Implications For Sales Value & Margin
• RAIL STOCKS
• Lok Sabha passes Railways (Amendment) Bill, 2024, granting statutory powers to the Railway Board.
• The amendment streamlines Indian Railways' governance by increasing the Railway Board's autonomy, efficiency, and alignment with global standards.
• RAILWAY MINISTER Says We aim to modernize railways, not privatize. Safety is paramount, with track upgrades and new technology addressing issues
• Copied from stockaajorkal telegram channel
• A Special Manufacturing program Launched, to produce 12,000 general coaches aims to meet rising demand, with 900 added this year and 10,000 more planned.
• US CPI Alert !
• - Core CPI at 0.308% MoM vs Bloomberg survey estimate at 0.28% MoM
• - Treasury yields move lower, reassured that a Dec Fed cut is very likely
• - USD OIS rates were pricing about -21 bps for Dec prior to CPI. Now near -24 bps
• STEEL EXCHANGE: BOARD MEET ON 18 DEC TO CONSIDER FUND RAISING VIA EQUITY
• Rupee opens at 84.84/$ vs Wednesday’s close of 84.83/$
• MTNL : MTNL Fails to Fund ESCROW Account for 8th Semi-Annual Interest on 6.85% Bond Series VI Due to Insufficient Fund
• BHARTI AIRTEL, VODA IDEA : Reliance Jio hikes prices by 2.7% - NDTV PROFIT
• The new recharge plan will charge Jio mobility users Rs 2025 for 200 days, compared to Rs 3599 for 365 days earlier.