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December 06, 2024

Summary of Market Participants Positioning in the Derivative Segment for 5th December, 2024.
Synopsis:
FIIs bought to the tune of 8539.91 cr while DIIs sold to the tune of 2303.64 cr.
FIIs' Long short ratio for index futures is at 43.81 as on a net basis, they bought 37166 index futures.
On the stock futures front, FIIs have bought to the tune of 97606 contracts, while on the Options Front, FIIs sold 370806 call contracts and sold 310196 Put Option contracts.
https://x.com/_sbisecurities/status/1864699204347514939?s=46
INSTL. INVESTORS EQUITY DERIVAT. TRADES AS ON 05-12-2024 :
FIIS F & O : RS. CRS. :
TOTAL NET BUY : +87249
INDEX FUT. : +2412
INDEX OPT. : +78837
STOCK FUT. : +6825
STOCK OPT. : -825
SEC. IN F&O BAN FOR 06.12.2024 :
1. MANAPPURAM 2. GRANULES
ADDITION : NIL
DELETION : RBL BK.
INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 05-12-2024 :
FIIS : BUY +8,540 (24,717-16,177)
DIIS : SELL -2,303 (13,396-15,699)
BSE SENSEX : +810 (81,766)
NSE NIFTY : +241 (24,708)
BSE MIDCAP. : +128 (47,500)
BSE SMLCAP. : +90 (56,707)
B. CRUDE : $ 72.42
GOLD:$ 2,633=INR 78,150(10gr)
SILVER : RS. 90,000 (kg)
FOREX : RS. $ 84.73
6.79% NEW '34: 6.6802%(100.77)
7.10% GOI '34: 6.7281% (102.5350)
7.23% GOI '39: 6.8140% (103.76)
India Daybook – Stocks in News
GRSE: Company signs contract for construction and delivery of 2nd ship from series of 4. (Positive)
Waaree Energies: Company secured a second NABL accreditation for its advanced PV module testing lab in Chikhli, Gujarat. (Positive)
Dynamic Services: Company gets offer letter for “Mega Project” from the Government of Maharashtra to set up a new project for manufacturing of solar PV panels 1800 MW (Positive)
Afcons Infrastructure: Company achieves longest tunnelling drive for DMRC in Delhi Metro Phase 4. (Positive)
Shriram Pistons: Company renewed its 5-year Technical Collaboration Agreement with Fuji Oozx Inc., Japan. (Positive)
PG Electroplast: Company’s long-term rating upgraded to CRISIL A+. (Positive)
NBCC: Company wins ₹599.35 Cr work order from National Health Mission, Maharashtra (Positive)
Abha Power: Company secured a ₹6 crore order from Indian Railways. (Positive)
Lemon Tree Hotels: Company announced a new resort in Pavagadh, Gujarat, India. (Positive)
Advait Energy: Company received a domestic order from NRSS Transmission Ltd for Supply and Installation of 24 F OPGW for a 400 KV transmission line (Positive)
Harsha Engineers: Company signed a long-term agreement with a multinational bearing company to supply bearing cages. (Positive)
Mehai Technology: Company receives ₹16.24 Cr order from Leapfrog Engineering for equipment maintenance. (Positive)
Electronics Mart: Company opened a new Bajaj Electronics store (6,300 sq ft) in Vijayawada, Andhra Pradesh. (Positive)
Canara Bank: RBI approves for divesting its shareholding in Canara Robeco AMC & Canara HSBC Life Insurance Company by 13% and 14.5% respectively through IPO. (Positive)
GPT Healthcare: Company said it has entered into a MoU and Letter of Intent with Naveen Singh and other lessors to construct and finish a high-class hospital building in Jamshedpur. (Positive)
RITES: Company said it has been appointed as the Project Management Consultant for the development of the Phase II campus of the IIM Raipur. (Positive)
Larsen & Toubro: Company received a Rs 4.4 crore penalty notice from the Joint Commissioner, CGST & Central Excise, Jamshedpur. (Neutral)
Kolte-Patil Developers: Company to sell 17% stake in Kolte-Patil planet kiwale project, deal worth Rs 37.9 million (Neutral)
Sylph Technologies: Company board approved a rights issue to raise up to Rs 49 Cr. (Neutral)
Zenith Drugs: Company participated in the CPHI 2024 convention in Delhi NCR, connecting with over 3000 industry professionals. (Neutral)
VSTL: Company’s Odisha Unit III operational start delayed to end of January 2025 due to electricity connection delays. (Neutral)
Canara Bank: CRISIL reaffirmed Bank's debt instrument ratings. (Neutral)
Maruti Suzuki: Company informs that the NCLAT hearing on CCI matter, previously adjourned multiple times, has been further adjourned to February 7, 2025. (Neutral)
UniHealth Hospitals: Company approved ₹10,00,00,000 additional capital contribution to its subsidiary, UMC Hospitals Pvt. Ltd., through a rights issue of 74,48,000 shares at ₹10 each. (Neutral)
ABFRL: Company received a GST order from Chennai's Assistant Commissioner, Kotturpuram Assessment Circle, and demanding Rs 2.45 Cr (Neutral)
L&T: Company issued Rs 1,500 crore worth of 7.19% Non-Convertible Debentures. (Neutral)
Ola Electric: Company received further communication from CCPA on Dec 4, 2024, requesting additional documents within 15 days. (Neutral)
Welspun Living: Company Ltd announced the approved amalgamation of its wholly-owned subsidiaries: Welspun Home Solutions Ltd and Welspun Advanced Materials. (Neutral)
GAIL: Company’s CSR initiative launched 2 Mobile Medical Units and an advanced life support ambulance to AIIMS. (Neutral)
Apollo Tyres: Company announced the cut-off date for its postal ballot on the issuance of up to Rs 10,000 million in Non-Convertible Debentures via private placement.Neutral)
Torrent Power: Company raises ₹3,500 crore through its QIP; 50% shares issued to one MF (Neutral)
Mahindra Logistics: Company’s ₹100 crore Commercial Paper credit rating (ICRA A1+) remains valid, as confirmed by ICRA on Dec 5, 2024. (Neutral)
KIMS: Company increased its stake in subsidiary Arunodaya Hospitals by 3% to 70.66%, costing Rs 2.25Cr. (Neutral)
Muthoot Capital Services: Company approved issuing Rs 90 crore Non-Convertible Debentures via private placement. (Neutral)
Shriram Asset Management: Board will meet on Dec 10, 2024, to consider a preferential share issue. (Neutral)
Tata Motors: JLR's total sales down 11% at 5,558 units vs 6,251 units year-on-year. (Neutral)
FSN E-Commerce: Nykaa Fashion CEO, Mr. Nihir Parikh, resigned effective December 5, 2024, due to personal reasons. (Negative)
Spandana Sphoorty: ICRA revised outlook to negative from stable for Spandana Sphoorty, rating reaffirmed ICRA A+ (Negative)
Mishtann Foods: SEBI has ordered Mishtann Foods to recover nearly ₹100 crore, misappropriated or diverted through group entities and its promoters. (Negative)
News Headlines from Business News Agencies :
Business Standard :
BharatPe launches offering to protect users from digital transaction frauds
As tariffs loom, Gillette razor-maker P&G sources more steel from India
Apple's iPhone sales hit $10.7 bn in India, overtakes Samsung for 2nd year
India sugar prices hit 18-month low, mills struggle to make cane payments
Farm sentiments likely to cheer domestic tractor sales in H2 FY25
Axis MF launches new fund that tracks NBFC's, housing finance sectors
Oil prices slightly up ahead of decision on supply cut in Opec+ meet
NODWIN Gaming gets Rs 64 cr investment from parent Nazara Technologies
Norway's Equinor, Shell plan to form UK oil and gas joint venture
Fall of govt leaves France without clear path to cutting deficit: S&P
Fairfax India to get addl 10% stake in Bengaluru airport operator BIAL
Foreigners buy $1 bn in bonds, betting on policy easing after GDP data
Economic Times :
Moody's revises global banking outlook to 'stable' from 'negative'
Support homegrown cybersecurity startups, MeitY secretary urges industry and government
Honda to recall over 205,000 US SUVs over fuel leak concern: NHTSA
UK electric vehicle sales surge 58% YOY in Nov, industry data shows
Govt open to idea of alternate financing model for MSME: Piyush Goyal
Boosting engineering goods exports: Industry body EEPC India's recommendations to govt
Apple plans $1 billion manufacturing plant investment in Indonesia, minister says
Russia's Rosneft investeFmynd $20 bn in India, govt quotes Putin as saying
Ericsson working on making network operations autonomous using GenAI agents
Avg housing prices up in 23 major tier II cities; rates fall in 5 small towns: PropEquity
NBCC arm HSCC bags work orders worth Rs 599.35 cr in Maharashtra
Mint :
Star, Manipal among worst insurers in claims settlement; SBI General leads pack
Temasek-backed Star Agriwarehousing files DRHP for IPO with SEBI
Nisus Finance Services IPO booked 18.92x on the second bidding day
JLR UK sales down 11% at 5,558 units vs 6,251 units (YoY)
Myntra announced a multi-year franchise partnership withNYSE-listed Abercrombie & Fitch Co.
Citigroup has launched new AI tools, Citi Assist and Citi Stylus, for 140,000 employees across eight countries.
China’s export ban on key minerals may have a silver lining for the US
Swiggy plans fee hike for Instamart, eyes higher take rate from business
Aurobindo Pharma unit Eugia gets USFDA nod for Pazopanib tablets
High inflation likely to keep consumer demand muted in 2025: Kantar report
Financing will be among the top business categories for Cars24: CEO Chopra
Summary of Market Participants Positioning in the Derivative Segment for 5th December, 2024.
Synopsis:
FIIs bought to the tune of 8539.91 cr while DIIs sold to the tune of 2303.64 cr.
FIIs' Long short ratio for index futures is at 43.81 as on a net basis, they bought 37166 index futures.
On the stock futures front, FIIs have bought to the tune of 97606 contracts, while on the Options Front, FIIs sold 370806 call contracts and sold 310196 Put Option contracts.
https://x.com/_sbisecurities/status/1864699204347514939?s=46
Navigating the Opening Bell with Sbi Securities: 6 Key Technical and Derivative Insights
Nifty's Bullish Structure Intact Despite Volatility Spike (RBI Policy Today)
1. Global Market:
On Thursday, the three major US indices experienced a subdued trading session as market participants showed caution ahead of the Jobs data release. The #Dow declined by 0.55%, the #Nasdaq slipped by 0.31%, and the #S&P500 closed lower by 0.19%.
Going ahead, for the S&P 500, the zone of 6030-6010 will act as crucial support for the index. While, on the upside, any sustainable move above the level of 6100 will lead to a sharp upside rally upto the level of 6170, followed by 6250 in the short term.
The #BrentOil ended on a negative note for the second consecutive trading session. Currently, it is trading below its short and long-term moving averages. Going ahead, any sustainable move below the level of $71 will lead to a sharp correction in Brent Oil. In that case, it is likely to test the level of $69 in the short term.
On Thursday, the U.S. Dollar Index (#DXY) slipped by 0.59 percent. Along with this fall, it has tumbled below its 20-day EMA level. Going ahead, any sustainable move below the level of 105.60 will lead to further correction in the index upto the level of 105 in the short term.
2. Nifty View:
On the weekly expiry day, Nifty experienced significant volatility, trading within a 562-point range, which is the widest daily range in the last 8 sessions. On the daily chart, it formed a bullish candle with wicks on both sides, reflecting indecision during the session. Such heightened volatility suggests an intense tussle between bulls and bears.
High volatility is expected today as the RBI policy announcement is scheduled. Despite this, the index trend remains bullish, trading above its short and long-term moving averages. Additionally, the daily RSI has surged past the 60 mark for the first time in 43 sessions, signaling strengthening momentum.
Going ahead, the zone of 24800-24830 will act as an immediate hurdle for the index. Any sustainable move above the level of 24830 will lead to a sharp upside rally upto the level of 25000, followed by 25200 in the short term.
While, on the downside, the support has shifted higher in the zone of 24600-24570 level.
On the #derivatives front, December #futures surged by 0.83 percent, while the combined #OpenInterest for the current, next, and far series dipped by 2.61 percent, which indicates an overall short-covering rally.
Among the constituents of the #Nifty index, 15 stocks have witnessed a long build-up, and 24 stocks have witnessed a short covering rally. While 8 stocks have witnessed a short build-up and 3 stocks have witnessed a long unwinding.
The 24800 strike has significant call open interest, followed by the 25000 strike. On the put side, 24700 has a substantial open interest, followed by a 24500 strike.
For the weekly series, OI PCR is at 1.13. While, for the December monthly series, OI PCR is at 1.25.
3. Bank Nifty View:
Bank Nifty also experienced significant volatility during Thursday’s trading session, moving within a 1037-point range, which is the widest daily range in the last 14 sessions. It formed a high-wave-like candle, reflecting heightened volatility and indecision among market participants.
Despite the volatility, the major trend remains bullish as the index continues to trade above its short and long-term moving averages. Momentum indicators and oscillators further support the strong bullish outlook.
Going ahead, the zone of 53800-53900 will act as an immediate hurdle for the index. Any sustainable move above the level of 53900 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 53350-53300 will act as immediate support for the index.
On the #derivative front, December #futures surged by 0.55 percent, and the cumulative #OpenInterest of current, next, and far series has dipped by 3.12 percent, which indicates an overall short-covering rally.
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 1.16.
4. Key Market Indicators:
The volatility index, India VIX, traded in the zone of 15.70-14.05 on Thursday. It ended the session at 14.52 level with a gain of 0.54 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.
Despite bullish momentum in the frontline indices, the #Advance/Decline ratio remained flat on Thursday.
5. Key Sectors:
On Thursday, Nifty IT gave a cup pattern breakout on a daily scale. Most noteworthy, it has marked a fresh all-time high, which shows strong outperformance as compared to the broader market. We believe it is likely to continue its northward journey in the next couple of trading sessions.
Apart from this, Bank Nifty, Nifty Financial Services, Nifty Consumer Durable, Nifty Realty, and Nifty PSU Banks are likely to continue their outperformance for the next couple of trading sessions.
6. FII/DII Data:
#FIIs bought to the tune of 8539.91 cr while #DIIs sold to the tune of 2303.64 cr.
FIIs' #Long-short ratio for index futures is at 43.81 as on a net basis, they bought 37166 index futures.
On the stock #futures front, FIIs have bought to the tune of 97606 contracts, while on the #Options Front, FIIs sold 370806 call contracts and 310196 Put Option contracts.
JPM on Indus Tower
OW, TP Rs 520
Management meet takeaways
1) Co expects IDEA to clear its entire Rs35bn of past dues by 4QFY25 or worst case early FY26, which should drive increased possibility of dividend announcement for FY25.
2) Tower rollouts to be higher in 2H vs 1H
3) IDEA is currently rolling out in urban areas and INDUSTOW has the tower footprint available to add IDEA as second tenant, keeping fresh capex low.
4) Tower rollouts in FY25 have been skewed towards urban
5) 5G rural rollout is still some time away as 5G use cases haven’t picked up.
6) ARPT is not seeing an increase due to mix shift towards lower rental low cost macro towers & renewal discounts
7) 7-8% tower renewals are coming every year with bulk expected in FY27
8) There are no plans to repay debt as it is comfortable with current leverage and hence excess cash will be returned to shareholders
Nuvama on Zen Tech
Buy, TP Rs 2200
This is strategically positive for ZTL
After a muted H1 in terms of ordering, OI pickup in H2FY25 remains one of the key ask-rates along with meeting its 50% revenue CAGR, 35% OPM and 25% PAT margin guidance over next 2–3years
Jefferies on Newgen Software
Buy, TP Rs 1500
Recent purchase order from RBI worth Rs325m may drive deals from other Indian banks.
Post meeting, remain constructive on Newgen's growth prospects
HSBC on Swiggy
Initiate Hold, TP Rs 550
Better than expected execution and valuation catch-up are key upside risks
Over FY24-27e, expect Swiggy’s FD biz to grow at a CAGR of 16%, & c65% for QC; do not forecast EBITDA breakeven for overall business before FY28e
CITI On Oil & Gas
String Of Event Catalysts Over Coming Months That Would Be In Focus
Potential Relief For CGDs, Either In Form Of GST Council
There May Be A Proposal To Bring Gas Under GST In The Upcoming Meeting
Govt May Lower Excise On CNG With Union Budget
Sharp Earnings Recovery For OMCs Is Also Expected
Progress On Gail’s Tariff Hike Proposal Will be In Focus
One Of Key Events Include Commissioning Of Reliance Ind’s Solar Module Facility
CGDs Like IGL/MGL Offer Compelling Risk/Reward From A 6-12 Month View
Nearer-term Upsides Could Be Contingent On Govt Action
GS on Westlife
Buy, TP Rs 1045
India Corporate day- Key takeaways
Positive impact from menu interventions
Soft base in 2H to aid SSSG recovery, management confident of outperforming peers
Gross margin impact in 2Q was temporary; operating leverage to start playing
Macquarie on Healthcare
Pharma stocks have corrected in last months despite solid 2Q earnings offering good entry points
Top pick is Sun Pharma
Hospitals reported good 2Q, supported by strong seasonality; however, profitability improvement in existing hospitals remains elusive.
Reiterate OP on Lupin, Cipla, Dr Reddy's, Zyduslife & Eris.
Maintain Neutral on Mankind, Ipca.
Retain UP on Max Healthcare, Apollo Hospital, Alkem
BofA on Divis
Maintain Buy with TP of Rs 6850
DIVI’s ~30% EPS CAGR over FY25-27 is not dependent on Biosecure order wins
Has limited impacted from slower recovery in CRO business
See confidence in medium-term earning recovery, upside from opportunities like GLP-1 supplies as well as macro tailwinds
Biosecure upside is an optionality
Growth will also be supported by the new capex in Kakinada being commissioned in Mar-25 qtr
MS India Strategy
See 14% upside to #BSE #Sensex to Dec-25 in base case – 93,000
Bull case target for Sensex – 1,05,000; Bear case target for Sensex – 70,000
India is Still the Market to Beat
With strong earnings, macro stability and domestic flows, it is hard to argue against India's investment case
Potential global growth risks plus a bunching up of IPOs and near-term growth concerns present challenges
India is our key pick in EM and Asia-Pacific
Most risks to our views come from outside India
2025 is likely to be a stock pickers' market
Prefer Cyclicals > Defensives, SMID > Large caps
Overweight on Financials Consumer Discretionary, Industrials & Technology
Underweight on all other sectors
A good chance of CRR cut in RBI’s Policy today.Repo rate cut of 25 bps is also not totally ruled out .
SHRIRAM AMC: BOARD MEET ON 10 DEC TO CONSIDER FUND RAISING
OPEC has extended the assessment period using three independent sources until November 2026, to guide 2027 reference production levels.
The UAE's required production has been raised by 300 KBD, with the increase gradually implemented from April 2025 to September 2026.
HARSHA ENGINEERING: WINS ORDER
Company has entered into a long term agreement with a leading
multinational bearing company, effective December 5, 2024 for the supply of bearing cages to the said group
Agreement is for an initial period of 6 years
Contract Value : Estimated at Euro 6 million ( ₹ 53.5 Cr ) to Euro 10 million ( ₹ 89.25 Cr ) per annum
FIEM IND: Additional Commissioner CGST Commissionerate, Rohtak, Haryana has conducted inspection under the applicable provisions of Central Goods and Service Tax Act, 2017 (“CGST Act”) at the Company’s two Plants Unit-1 and Unit-7 situated in Sonipat, Haryana.
The Company has responded to all the clarifications and details sought by GST Officers.
Note ; The said inspection did not, in any manner, impact the normal operations of the factories of the Company and no financial, operational or other activities have been impacted
MEHAI TECH: WINS RS 16.24 CR ORDER
Company has recently received orders from Leapfrog Engineering Services Limited for Maintenance work of various equipment
ADVAIT ENERGY: WINS ORDER
Company has received an order for Supply and Installation of 24 F OPGW on Turkey Basis for 400 KV Line from NRSS XXXI (B) Transmission Ltd for 400 KV Transmission Line Kurukshetra- Malerkotla on December 5, 2024.
SETCO AUTOMOTIVE: Subsidiary Lava Cast successfully exported flywheels and covers to the US, marking a key milestone in Setco's global expansion.
The shipment caters to top auto players and aftermarket distributors, reflecting rising demand for quality automotive components.
Setco plans to scale up its international operations for Clutches, Flywheels and Castings through Lava Cast, which could contribute meaningfully to the company’s overall revenues.
LEMON TREE : Lemon Tree Hotels signed Lemon Tree Resort, Pavagadh, Gujarat, set to open in FY 2027 under Carnation Hotels' management.
PG ELECTROPLAST: CRISIL Ratings Limited has upgraded PG Electroplast Limited’s Long-Term Rating “CRISIL A/Positive”to 'CRISIL A+/Stabl
PM Surya Ghar: Muft Bijli Yojana
Targeting 1 Crore Solar Installations by 2027
By March 2025, installations under the scheme are expected to exceed 10 lakh, with the numbers doubling to 20 lakh by October 2025, reaching 40 lakh by March 2026, and ultimately achieving the target of one crore by March 2027
The scheme offers a subsidy of up to 40 percent to households, making renewable energy more affordable and accessible
In just nine months, 6.3 lakh installations have been completed, resulting in an impressive monthly installation rate of 70,000, ten times higher than the pre-scheme average
NYKAA: Nykaa Fashion CEO Nihir Parikh resigns, effective December 5, 2024, citing personal commitments.
SPANDANA SPHOORTY: ICRA REVISED OUTLOOK TO NEGATIVE FROM STABLE FOR SPANDANA SPHOORTY
Rating reaffirmed ICRA A+ (negative)
Revision in outlook to negative considering the deterioration in spandana sphoorty fin asset quality & profitability in H1FY25
Expect weak overall performance in near term
MFI industry is experiencing a significant rise in delinquencies due to multiple factors as overleveraging of borrowers, political movement, etc
SSFL is facing high attrition & other operational challenges on account of its intention to transition to a weekly collection model
Company has slowed down this transition because of the headwinds in the sector
TEMBO GLOBAL: WINS RS 52.9 CR ORDER
Company has bagged an order from Domestic Organisation for Supply of DI Pipes ( water Irrigation)
TIME Period; 12 months
CEIGALL India: Update Regarding Arbitration Between M/s Ceigall India Limited and Greater Mohali Area Development Authority (GMADA)
Ceigall India won an arbitration against GMADA, receiving an award of ₹54.2 crore with 12% interest from December 5, 2024, for a road construction project in SAS Nagar.
GLOBAL SPIRITS: Globus Spirits Unveils TERAI India Craft Gin – Litchi & Mulberries: A celebration of Heritage and Innovation
The company launches TERAI India Craft Gin – Litchi & Mulberries, part of The Bagh Explorations series, inspired by fruits from Swarup Family farmlands in Uttar Pradesh.
TERAI India Craft Gin – Litchi & Mulberries is available in a 750 ml bottle & has been launched in major cities of UP, Rajasthan & Goa, will slowly make its way to other major cities as well with pricing varying across states in accordance with local regulations.
CANARA BANK: The Reserve Bank of India has approved Canara Bank to divest 13% in Canara Robeco AMC and 14.5% in Canara HSBC Life Insurance via IPO.
The bank must reduce its stake in these entities to 30% by October 31, 2029, as per government exemption.
Canara Bank will begin the IPO process and update exchanges as per SEBI regulations.
RITES: WINS RS 148 CR ORDER
RITES has been appointed as Project Management Consultant (PMC) for Execution, Supervision, Monitoring & Development of Phase II Campus of Indian Institute of Management Raipur (Chhattisgarh) Project on cost plus basis from Indian Institute of Management Raipur (IIM Raipur).
Time Period; 23 months
CG POWER: The company received an Income Tax Assessment Order for FY 2022-23 with a demand of ₹188.79 crore. It filed an appeal with CIT(A) on March 26, 2024, and sought a stay on the demand.
On December 4, 2024, the Assistant Commissioner approved a partial stay, directing the company to deposit ₹4.89 crore, with the balance demand stayed pending appeal.
MISHTANN FOODS: SEBI asks Mishtann Foods to retrieve nearly Rs 100 cr misappropriated, diverted to group entities, promoters, directors
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