Indian Stock Market News | BSE/NSE Sensex Updates | Equity Market Highlights

Market Highlights

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

December 11, 2024

Shrimp prices on move gradually Stock on radar APEX frozen Coastal Corp Zeal Aqua
ATULLTD Horizontal line breakout seen, looks good, range 7456 to 7390 can test 8100 support at 7199 positionalview
INSTL. INVESTORS EQUITY DERIVAT. TRADES AS ON 10-12-2024 :
FIIS F & O : RS. CRS. :
TOTAL NET SELL : -22851
INDEX FUT. : -566
INDEX OPT. : -16706
STOCK FUT. : -1899
STOCK OPT. : -3680
SEC. IN BAN FOR, 11-DEC-2024 :
1. GRANULES 2. MANAPPURAM 3. PVRINOX 4. RBLBANK 5. METROPOLIS
ADDITION : METROPOLIS
DELETION : NIL
INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 10-12-2024 :
FIIS : BUY +1,286 (19,937-18,651)
DIIS : BUY +605 (11,264-10,659)
BSE SENSEX : +02 (81,510)
NSE NIFTY : -09 (24,610)
BSE MIDCAP. : +145 (47,967)
BSE SMLCAP. : +190 (57,503)
B. CRUDE : $ 72.04
GOLD:$ 2,691=INR 80,230(10gr)
SILVER : RS. 94,500 (kg)
FOREX : RS. $ 84.85
6.79% NEW '34: 6.7073%(100.5750)
7.10% GOI '34: 6.7493% (102.3850)
7.23% GOI '39: 6.8396% (103.52)
Securities in Ban For Trade Date 11-DEC-2024:
1 GRANULES
2 MANAPPURAM
3 METROPOLIS
4 PVRINOX
5 RBLBANK
Summary of Market Participants Positioning in the Derivative Segment for 10th December, 2024.
Synopsis:
FIIs bought to the tune of 1,285.96 cr. while DIIs also bought to the tune of 605.79 cr.
FIIs' Long short ratio for index futures is at 43.49 as on a net basis, they sold 9,058 index futures.
On the stock futures front, FIIs have sold to the tune of 27,800 contracts, while on the Options Front, FIIs sold 1,35,593 call contracts and 1,58,009 Put Option contracts.
https://x.com/_sbisecurities/status/1866507184801988894?s=46
Navigating the Opening Bell with Sbi Securities: 6 Key Technical and Derivative Insights
Midcaps and Small Caps Outshine Frontline Indices
1. Global Market:
The #Dow has extended its losing streak to four consecutive sessions, closing in the red once again and approaching its 20-day EMA level. Meanwhile, the #Nasdaq and #S&P 500 have also experienced profit-booking, slipping by 0.34% and 0.30%, respectively.
Going ahead, for the S&P 500, the 20-day EMA zone of 6000-5980 will act as immediate support for the index. While, on the upside, the zone of 6060-6080 will act as a crucial hurdle for the index.
On Tuesday, #BrentOil has ended on a flat note. However, the overall trend remains bearish, as prices continue to trade below their short and long-term moving averages. Going ahead, a sustained move below the $70 level could trigger a sharp correction, potentially driving prices down to $67 in the short term.
Over the last nine trading sessions, the U.S. Dollar Index (#DXY) has been oscillating within the 106.73–105.42 range. A decisive breakout on either side could trigger a trending move in the DXY.
2. Nifty View:
On Tuesday, the benchmark index Nifty traded predominantly with a negative bias. However, in the final hour, it found support near the lower trendline of its rising channel and staged a sharp rebound. The session concluded on a flat note at the 24610 level. On the daily chart, Nifty formed a small-bodied bearish candle with a long lower shadow, reflecting buying interest at lower levels.
The major trend of the index remains bullish as it is quoting above its short and long-term moving averages. The momentum indicators and oscillators have been oscillating in range since the last three trading sessions.
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 on a flat note, while the combined #OpenInterest for the current, next, and far series surged by 0.13 percent.
Among the constituents of the #Nifty index, 9 stocks have witnessed a long build-up, and 13 stocks have witnessed a short covering rally. While 17 stocks have witnessed a short build-up, and 11 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 0.70. While, for the December monthly series, OI PCR is at 1.18.
3. Bank Nifty View:
The Bank Nifty recorded a narrow trading range of just 321 points, marking its tightest daily movement since November 6, 2024. This also marked the third consecutive session of constrained trading activity for the index, signaling a phase of consolidation.
Despite the low volatility over the last three sessions, the major trend remains bullish as the index continues to trade above its short and long-term moving averages.
Going ahead, the zone of 53700-53800 will act as an immediate hurdle for the index. Any sustainable move above the level of 53800 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 surged by 0.31 percent, and the cumulative #OpenInterest of current, next, and far series has also surged by 0.32 percent.
The 54000 strike has significant call open interest, followed by the 54500 strike. On the put side, 53500 has a substantial open interest, followed by a 53000 strike.
For the December monthly series, OI PCR is at 1.02.
4. Key Market Indicators:
On Tuesday, the volatility index, India VIX, ended below 14 levels with a loss of 2.34 percent. Going ahead, 15.70-16 will act as an immediate hurdle for the index. While, on the downside, the zone of 13.70-13.50 will act as a crucial support for the index.
The #Advance/Decline ratio remains flat on Tuesday.
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 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 bought to the tune of 1,285.96 cr. while #DIIs also bought to the tune of 605.79 cr.
FIIs' #Long-short ratio for index futures is at 43.49 as on a net basis, they sold 9,058 index futures.
On the stock #futures front, FIIs have sold to the tune of 27800 contracts, while on the #Options Front, FIIs sold 135593 call contracts and 158009 Put Option contracts.
India Daybook ~ Stocks in News
Tata consumer/ CCL Products: Global coffee prices at 47-year high, up 83% YoY on supply shortage from Brazil. (Positive)
Indian Overseas Bank: Receives order of refund of ₹1,359.29 crores from Income Tax Department for AY 2015-16. (Positive)
NTPC Green Energy: Company bags order to set up energy storage system of 250 MW/1000 MWh from SECI. (Positive)
Dr Morepen: Company forays into wellness segment with weight management initiative. (Positive)
LTimindtree: Company and Github forge strategic alliance to accelerate AI-driven software engineering. (Positive)
Hinduja Global: Company unit HGS CX technologies to merge five U.S subsidiaries for streamlined operations. (Positive)
HG Infra engineering: Company gets LOA from ministry of road transport and highways, estimated bid project cost at Rs 8.99 billion (Positive)
Cement Stocks: Cement companies across India are mulling a price hike: CNNC (Positive)
Orient Tradelink: Company expands into regional languages, translating 65+ books into Tamil and Telugu. (Positive)
Saakshi Medtech: Company bags order worth Rs 250 crore from M&M for supply of EV panels. (Positive)
Asian Granito: Company formed a joint venture, Klyn AGL Ltd., in the UK with Shudh Investments Ltd. and Klyn Stone Ltd. (Positive)
UPL: ICICI Pru bought 5.25 lac shares at 178.84, Promoters have also been buying in open market. (Positive)
Vipul Ltd: Company board approved a rights issue of up to Rs 49.75 crore (Neutral)
Shriram Pistons: Company announced its wholly-owned subsidiary, SPR Engenious Ltd, will acquire 100% of TGPEL Precision Engineering Ltd for ₹2,200 Mn enterprise value. (Neutral)
Asian paints: LIC increased its stake in Company from 5.001% to 7.010%, stake buy at an AVG price of 2891.25 rupees/share (Neutral)
Biocon/Syngene: Company sells 8 million equity shares of Syngene international through block deal. (Neutral)
Party Cruisers: Company board approved an investment in Glint Design Pvt. Ltd. (Neutral)
Palco Metals: Company increases its stake in subsidiary Palco Recycle Industries Ltd. from 64.72% to 74.21%. (Neutral)
P M Telelinnks: Pratik Rajendrakumar Koralwala resigned as Company Secretary and Compliance Officer (Neutral)
Karnataka Bank: Bank launched its first Retail Assets Centre (RAC) in Bengaluru to streamline retail loan services. (Neutral)
Senco Gold: Rs 500 cr QIP opens, Floor Price Rs 1139.49 (Neutral)
Ujjivan Small Finance Bank: Gets RBI Approval for re-appointment of Banavar Anantharamaiah Prabhakar as part-time Chairman for 3 Years (Neutral)
Awfis: Bisque, Link Investment Trust & Peak XV Partners Investment likely to sell 12.2% stake in Awfis Space Solutions via block deals (Neutral)
Ashiana Housing: Company reported a search conducted by the Directorate General of GST Intelligence (Neutral)
Adani Ports: Company withdraws request for financing Colombo West International Terminal project from the DFC. (Neutral)
Reliance Ind: NCLT approves plan submitted by RIL's arm RSBVL for resolution of Karkinos Healthcare. (Neutral)
GS on Avenue Supermart
Sell, TP cut to Rs 3425 from Rs 4000
Cut FY25/26/27 earnings est by 4.2%/6.2%/6.1%, accounting for lower rev growth
D-Mart’s competitive moat facing increasing pressure & is increasing price disc to maintain competitive advantage
MOSL on VRL Logistics
Buy, TP Rs 670
NDR takeaways
Expects revenue growth of 12-13% annually over next few years, with margins projected to remain strong at 15-16%
Tonnage growth est at 8-10%
Pricing remained steady post price hike undertaken at end of 1QFY25
JM Financial on BHEL
Buy, TP Rs 371
Co bagged orders for 10,400 MW of projects in FY25
Expect revenue/EBITDA to grow at CAGR of 30/103% through FY24-FY27E
MOSL on Zen Tech
Buy, TP Rs 2400
Management meet
Indicate that ordering in key areas of Zen will start ramping up in coming months
Co also close to finalizing plans for an inorganic acquisition for simulator or anti-drone biz & looking at US as one of key markets in future
Antique on OMCs
In a sweet spot currently
Autofuel marketing margin at INR 9.8/ltr is at a high.
Singapore complex refining margin has bounced back averaging $5/bbl QTD (vs. $3.6/bbl in 2Q)
Val attractive with dividend yields of 4.3–6.4%
HPCL preferred pick
HSBC on Oil & Gas (2025 outlook)
Global oil price, refining & petrochem margins are likely to remain weak but LNG to strengthen on delayed ramp-ups
India to be key destination for global products
Retain Buy on GAIL, HPCL, BPCL, & IOC
Hold on PLNG
Reduce on ONGC
HSBC on Pharma (2025 outlook)
Expect 2025 to be good led by peak gRevlimid sales & differentiated launches in US
Focus will be on efforts/launches in US & elsewhere (e.g. GLP-1 drugs) to minimise impact of gRevlimid fall
Believe underlying growth solid in Cipla, Sun & Torrent
CITI on Bajaj Fin
Buy, TP Rs 8150
Co unveiled LRS 2025-29 & introduced strategy for ‘BFL 3.0–A FINAI Co ’ phase
All in all, BFL aspires to be pre-eminent choice for its 220mn customers and AI enabled tech infra to deliver significant operating leverage and virtuous growth cycle
MS on Bajaj Fin
OW, TP Rs 9000
Analyst meet Key Takeaways
for Bajaj Finance
BAF unveiled its new Long Range Strategy (LRS) 2025-29 and its new construct leveraging Artificial Intelligence (BAF 3.0).
Key financial goals like ROE, credit market shares, etc. remain largely unchanged
CLSA on Cement
Cement prices increased by Rs10-30/bag in early Dec, implying pan India 3Q prices are up 3.5% QoQ but still down 5% YoY
Hence, sustainability of these hikes through March would be key
Remain selective & relatively prefer Ultratech
JPM on Steel Sector
Increasing news flow around China stimulus & Steel Ministry potentially considering a safeguard duty on steel imports are +ve catalysts, while a focus on optimizing coking coal blends by steelmakers could drive cost savings
Prefer JSTL, TATA (OW)
SAIL (N)
HSBC on PB Fintech
Initiate Buy, TP Rs 2550
India’s largest online insurance marketplace & has built strong competitive advantages
Substantial operating leverage over FY25-28e to drive 66% PAT CAGR vs 27% rev CAGR
Forecast EBITDA margin to c19% by FY28e
Citi Consumption/FMCG Trades
A) Pair trade on overweight Britannia/Underweight Dabur and overweight Trent/underweight Page
B) Top Buys (VBL, GCPL, HUL, Britannia, Jubilant Food, Kalyan Jewellers, Trent and Polycab)
C) Top Sells (Colgate, Dabur, Asian Paint, Dmart, Page).
VRAJ IRON: Company has received consent to operate for expansion project of Sponge kon and Power Plant located at Village Dighora, Near Bilha Mode, Tehsil-Takhatpur Dist. Bilaspur Chhattisgarrh 495002 from the Chhattisgarh Environment Conservation Board.
ASHIANA HOUSING: The Directorate General of GST Intelligence conducted a search at Treehouse Hotel Club and Spa, Bhiwadi, from 11:50 AM on 05.12.2024 to 4:15 PM on 06.12.2024, under Section 67(2) of the CGST Act, 2017.
During the investigation, it was found that GST liability was incorrectly calculated due to an error in applying the wrong rate on food and beverage bills at The Treehouse Hotel.
The company has proactively paid ₹1.5 crore via DRC-03 and is reviewing records to determine any additional liability, promising prompt payment if required.
Govt Assigns DEA Secy Ajay Seth An Additional Charge Of Revenue Secretary
ASAHI INDIA: The company and other TGPEL shareholders have signed a Share Purchase Agreement with SPR Engenious Limited for the sale of their 30% stake in TGPEL Precision Engineering Limited (“TGPEL”) For Rs 66 Cr
Following the transaction, TGPEL will become a 100% subsidiary of SPREL and will no longer be an associate company of AIS.
TGPEL is engaged in the business of manufacturing, selling products and providing end-to-end solutions ranging from mould design and conceptualization to manufacturing and assembly of intricate plastic injection-moulded components and high-quality moulds.
UJJIVAN SFB: RBI has approved the re-appointment of Mr. Banavar Anantharamaiah Prabhakar as Part-Time Chairman of the Bank for a further period of 3 years w.e.f. November 23, 2024 i.e., November 22, 2027.
SHRIRAM AMC: Co. To Issue 38.8 Lkh Shares worth Rs 105 Cr To Sanlam Emerging Markets (Mauritius) Limited
NTPC GREEN : NTPC Renewable Energy Wins 500 MW Solar Power
Contract in SECI Auction
SENCO GOLD: CO. LAUNCHED QIP FOR FUND RAISING, FIXES FLOOR PRICE @ ₹ 1,139.49/SHARE
Microsoft shareholders reject Bitcoin investment proposal, preliminary results reveal.
ADANI PORTS: CO SAYS WOULD LIKE TO INFORM THAT CWIT PROJECT IN SRI LANKA IS PROGRESSING WELL AND IS ON TRACK FOR COMMISSIONING BY EARLY NEXT YEAR
ADANI PORTS: CO SAYS PROJECT WILL BE FINANCED THROUGH THE CO’S INTERNAL ACCRUALS AND CAPITAL MANAGEMENT PLAN || CO SAYS HAVE WITHDRAWN REQUEST FOR FINANCING FROM THE DFC
MOREPEN LAB: Co. launches LightLife, a 360° weight management program designed for modern lifestyles. Featuring Slimbiome® and Intelicaps Probiotics, it helps curb cravings, boost fullness, and support gut health.
The program includes Pre-meal Nutrition Drinks, On-the-Go Meals, and a mobile app with 24/7 tracking, diet plans, and expert counseling. Priced at ₹599, LightLife offers a simple, affordable solution for sustainable health.
HEERA ISPAT: BOARD MEET ON 18 DEC TO CONSIDER FUND RAISING VIA EQUITY
RAILTEL: WINS RS 11.1 CR ORDER
Co. has received the work order from Mahatma Phule Krisihi Vidyapeeth, Taluka-Rahuri, District-Ahilyanagar for Setting up of Virtual Classrooms with all equipements, Setting Up of Digital Classroom with all necessary equipment, Provision of Videowall,Supply and Installation of Aadhar based System amounting to Rs. 11,11,80,027 (Excluding Tax).
RELIANCE IND: The NCLT Mumbai, on December 9, 2024 ,approved Reliance Strategic Business Ventures Ltd.'s resolution plan for Karkinos Healthcare under the Insolvency and Bankruptcy Code, 2016.
AWFIS SPACC: Sources Says BLOCK deal of Rs 583 cr launched, Bisque Ltd; Link Invt; Peak XV Partners to sell shares - CNBC AWAAZ
Floor Price: INR 680 per Equity share (5.2% discount)
Pre IPO investors to sell up to 12.2% stake in co
ALLIED BLENDERS: Update on acquisition of Minakshi Agro Industries Limited Liability Partnership
Definitive agreements for the acquisition of Minakshi Agro Industries LLP were executed today, December 10, 2024. As a result, MAILLP is now a wholly owned subsidiary of the Company.
TRIVENI ENGINEERING:SIR Shadi Lal Enterprises Board approved a Composite Scheme of Arrangement involving Triveni Engineering & Industries Limited, Sir Shadi Lal Enterprises Limited, and Triveni Power Transmission Limited. The scheme includes:
Amalgamation of Sir Shadi Lal Enterprises into Triveni Engineering, with equity shares issued to Sir Shadi Lal Enterprises' shareholders.
Transfer of Triveni Power Transmission's undertaking to the Resulting Company, with equity shares issued to the Demerged Company's shareholders.
Listing of equity shares of the Resulting Company on BSE and NSE after the scheme is effective, in compliance with SEBI guidelines.
BEAT THE STREET BULLETIN

130