Share Market Highlights 22 December 2023: Sensex climbs 241 pts to settle at 71,106; Nifty closes at 21,349

Stock markets extended gains for a second day on Friday following buying in IT stocks and firm trends in the US markets.

The 30-share BSE Sensex climbed 241.86 points or 0.34 per cent to settle at 71,106.96. During the day, it jumped 394.45 points or 0.55 per cent to 71,259.55. The broader Nifty went up by 94.35 points or 0.44 per cent to 21,349.40.

Among the Sensex firms, Wipro jumped over 6 per cent, the most among the frontline companies. HCL Technologies, Tata Motors, Maruti, Tata Steel, Infosys, Tech Mahindra, Larsen & Toubro and JSW Steel were the other major winners.

State Bank of India, Bajaj Finance, ICICI Bank, HDFC Bank, Axis Bank and IndusInd Bank were among the laggards.

The Indian rupee posted its biggest weekly loss in over two months, even as it closed stronger on Friday tracking a rise in its Asian peers and aided by dollar sales from large foreign banks.

The rupee ended at 83.14 against the U.S. dollar, compared to its previous close at 83.2775.

The rupee’s gains on Friday were aided by dollar sales from two large foreign banks, likely on behalf of custodian clients, a foreign exchange at a private bank said.

Stocks hitting 52 week low on the NSE - Latteys Industries Ltd (-5.04%), Bajel Projects Ltd. (-4.99%), Bohra Industries Ltd (-4.83%), SEL manufacturing Ltd. (-1.99%), Raj Rayon Industries Ltd (-1.91%)

Stocks hitting 52 week high on the NSE - Lakshmi finance and industrial corporation Ltd (20%), Starteck Finance Ltd (19.99%), Balmer Lawrie and company ltd. (19.98%), Sangam Ltd. (19.63%), Transformers and Rectifiers Ltd. (18.71%)

ICICI Bank Limited disclosed a GST demand of Rs 52,650, penalty of Rs 20,000, and interest of Rs 56,865 imposed by West Bengal GST Department, shares were down by 0.93% to Rs 994.30 on the BSE.

A total of 3,863 stocks were traded on the BSE, of which, 2,469 advanced, while 1,260 declined and 134 stocks remained unchanged. As many as 230 stocks hit a 52 week high and 14 stocks hit a 52 week low at 3 pm on Friday.

Top gainers:

• Wipro Ltd (6.34%)
• HCL technologies Ltd (2.89%)
• Coal India ltd (2.21%)
• Hindalco industries Ltd (2.23%)
• Tata Motors Ltd (2.24%)

Top losers:

• Grasim industries Ltd (-1.86%)
• State Bank of India (-1.10%)
• ICICI Bank Ltd (-1.06%)
• SBI life insurance company ltd (-0.97%)
• Bajaj Finance Ltd. (-0.87%)

EaseMyTrip.com has secured approximately 13 per cent stake in Eco Hotels and Resorts Ltd, a BSE listed entity.

According to the company’s stock exchange filing, the investment is aimed at acquiring a minority interest and to promote environmentally-friendly practices in the hospitality sector.

Easy Trip Planners stock inched up by 0.13 per cent on the NSE, traded at ₹38.30 as of 2:30 pm on Friday. 

Goldiam International Limited secured export orders totaling Rs 50 crore for the manufacturing of lab-grown diamond-studded gold jewellery from international clients. Shares were up by 1.12% to Rs 175.30 on the BSE.

​TVS Srichakra Limited​ acquired 6.66% of the paid-up Equity Share Capital of Clean Max Genesis Private Limited, aiming to purchase solar power. Shares were down by 0.25% to Rs 4577 on the BSE.

Bharat Electronics Ltd (BEL) has received orders worth ₹2,759.15 crore. This includes an order worth ₹1,701 crore from Goa Shipyard Ltd, and a ₹972-crore order from Garden Reach Shipbuilders & Engineers Ltd (GRSE) for the supply of 14 types of sensors for use on Next Generation Offshore Patrol Vessels (NGOPV).

In addition, it has received a ₹86.15-crore order for miscellaneous spares and services, since the last disclosure on December 15.

The BEL stock rose by 2.26 per cent to trade at ₹174.50 as of 1:07 pm on the NSE on Friday. The GRSE stock inched up 0.24 per cent at ₹819 as of 1:15 pm.

AXISCADES Technologies stock surged 10 per cent to hit a 52-week high on the NSE, it traded at ₹675 as of 1:40 pm on Friday.

The Bengaluru-based engineering solutions provider had recently acquired EPCOGEN Pvt Ltd for ₹26.25 crore, with an additional three-year earnout of ₹7 crore based on performance.

TRF Limited received an Adjudication Order from the Central Goods & Service Taxes, Bolpur, claiming a demand of Rs 3.79 crore for irregular availing of transitional service tax credit. Shares were down by 0.26% to RS 247.80 on the BSE.

Swan Energy Limited (SEL) announced the approval for a one-year extension in the repayment schedule, as sought by Hazel Mercantile Limited for the acquisition of Reliance Naval and Engineering Limited. The extension relates to delaying the payment of the second installment of Rs 312 crore, originally due on December 23, 2023.

Mishtann Foods Limited incorporates a wholly-owned subsidiary, “Grow and More Nutrifoods Ltd.” in Singapore, focused on the Foods and Beverages (FMCG) industry. Shares were up by 1.37% to Rs 16.28 on the BSE

Fast-Moving Consumer Goods (FMCG) major Godrej Consumer Products Ltd (GPCL) has ramped up its advertising spend for Raymond’s FMCG business.

The company’s half-year advertisement spend for FY23-24 was up 41.44 per cent year-on-year at Rs 686.33 crore, compared to Rs 485.25 in the same period of FY23. Further, the advertisement spends in Q2FY24 are up 28.91 per cent year-on-year at Rs 365.94 crore.

Scintilla Commercial & Credit Ltd. disclosed the dilution of shareholdings in its subsidiaries, Mericogold Trading Pvt. Ltd. and Jaimatarani Merchants Pvt. Ltd., from 55.55% to 24.44%.

Tata Metaliks Limited confirms the approval of the Scheme of Amalgamation with Tata Steel Limited by the Hon’ble National Company Law Tribunal, Kolkata Bench. Tata Metaliks shares were up by 1.80% to Rs 1029.50 on the BSE.

Zuari Agro Chemicals shares trading at Rs 191.15, up by 9,48 p.c. over previous close. Reports a spurt in volume by 3.21 times.

Axis Mutual Fund has garnered over Rs 3,400 crore through its Axis India Manufacturing Fund new fund offer.

The NFO opened on December 1 and closed on December 15.

Ashok Alco-Chem Limited announced the renaming of the company to “Aeonx Digital Technology Limited,” and the sale of 100% Equity Shares in its subsidiary, M/s. Aeon Procare Private Limited, to Ashapura International Limited. Shares up by 0.22% to Rs 135 on the BSE.

Easy Trip Planners Limited has executed a 1:1 share swap, acquiring 40,00,000 equity shares of Eco Hotels and Resorts Limited, with a 13.39% shareholding now held by Easy Trip Planners in Eco Hotels and Resorts Limited. shares were up by 0.92% to Rs 38.62 on the NSE

Bharti Airtel’s OTT platform, Airtel Xstream Play, partnered with aha Telugu and Tamil. The collaboration aims to offer content, including films, original shows, talk shows, and reality TV, to Airtel Xstream Play’s subscribers. shares were up by 2.30% to Rs 597 on the NSE.

Bharat Electronics Limited received orders worth Rs 2,673 crore from

Goa Shipyard Limited and Garden Reach Shipbuilders & Engineers for supply of 14 types of sensors for use on Next Generation Offshore Patrol Vessels. shares up by 0.70% to Rs 171.85 on the NSE.

The central government has extended the reduced import duty regime for some of the key edible oils by a year as it makes interventions to keep food inflation in check.

The reduced duty, which was set to end in March 2024, will continue till March 2025, an official notification from the government showed.

The basic import duty on refined soyabean oil and refined sunflower oil was reduced from 17.5 per cent to 12.5 per cent.

Nifty could hit the 24200 level in 2024, driven by heavyweight stocks from the BFSI, auto, cement and healthcare sectors, ICICIdirect has said in its latest Quant Yearly Outlook report.

The Nifty was up by 119.10 pts or 0.56 per cent at 21,379.10 as of 11:30 am on Friday. The Nifty 50 pack was at 21,373.90, up by 118.85 points or 0.56 per cent. Major stocks that gained on the NSE as of 11:51 am were Divi’s Laboratories, Tata Motors, Coal India, Maruti, and Tata Steel. 

Aavas Financiers Ltd. approved the issuance of up to 6,500 Non-Convertible Debentures worth Rs 650 crore on a private placement basis. The NCDs, with a face value of Rs 10 lakh each, have a tenor of 5 years, and the coupon rate will be decided at the time of disbursement.

shares down by 0.44% to Rs 1481.30 on the NSE

Infosys Ltd. allotted 11,965 equity shares through Restricted Stock Unit. The allotment includes 10,532 equity shares under the 2015 Incentive Compensation Plan and 1,433 equity shares. shares were up by 0.66% to Rs 1546.15 on the NSE.

Top gainers on the NSE at 12 pm include - Divi’s laboratories Ltd (3.39%), Coal India Ltd. (2.81%), Maruti Suzuki India ltd (2.88%), Tata Motor Ltd. (2.60%), Hindalco industries Ltd (2.24%) 

Top losers on the NSE at 12 pm include - Bharat petroleum corporation Ltd (0.61%), Grasim industries Ltd (0.61%), HDFC Bank Ltd (0.56%), Reliance industries Ltd (0.37%), HDFC life insurance company ltd (0.11%)

A total of 3,746 stocks were traded on the BSE, of which, 2,600 advanced, while 988 declined and 158 stocks remained unchanged. As many as 196 stocks hit a 52 week high and 10 stocks hit a 52 week low at 12 pm on Friday.

The shares of Life Insurance Corporation of India (LIC) surged over 7% to hit a 52-week peak during early trading on Friday. This increase follows the news of LIC receiving a special exemption allowing them to attain the 25% Minimum Public Shareholding requirement within a 10-year period. On the BSE, the stock soared by 7.25% to reach Rs 820.05, while at the NSE, it rose by 7.39% to Rs 821, both marking their respective 52-week highs. LIC, a state-owned insurer, confirmed the government’s approval of this one-time exemption for MPS compliance.

Blue Star Limited received an order from the Assistant Commissioner of State Tax, Gujarat, demanding Rs 6.10 lakh for tax liability, interest, and penalty related to the GST audit conducted for the period 2017-2018.

KPI Green Energy Limited’s subsidiary, KPIG Energia Private Limited secured an order for a 1.80 MW solar power plant under the Captive Power Producer (CPP) segment. Cost of acquisition is Rs 91 crore. Shares were up by 1.85% to Rs 1315.30 on the BSE

The BSE Sensex was up by 0.49% or 339.56 points to 71,192.68 while NSE Nifty was up by 0.57% or 121. 95 points to 21,377

Lupin Limited’s wholly-owned subsidiary, Lupin Atlantis Holdings SA, Switzerland will acquire products in Europe and Canada from French pharmaceutical company, Sanofi. Order’s worth is Rs 9 crore. Shares were up by 2.08% to Rs 1281.65 on the BSE

Brigade Enterprises has announced in an exchange filing that design engineering solutions provider Sidvin Core-Tech India Pvt Ltd has entered into an lease agreement with Brigade Group for 54,300 square feet of Grade A office space at Brigade Deccan Heights in North-West Bengaluru.

It is located in Yeshwanthpur on the Outer Ring Road in North-West Bengaluru, and spans 2.2 acres with a 4.3 lakh square feet development area.

The Rashtriya Ispat Nigam Ltd, known as Vizag steel plant, has forged a deal with Jindal Steel and Power Ltd to get an infusion of working capital up to ₹900 crore in a bid to propel sales revenue, monthly turnover and slash losses.

The timely deal enables the steel plant to procure raw material and start consistent Blast Furnace-3 (BF-3) operations with the planned blowing-in scheduled on December 30 at a capacity of two lakh tonnes of hot metal per month, an official said here on Thursday.

Sarda Energy and Minerals Ltd., received consent from Chhattisgarh Environment Conservation Board to operate its Iron Ore Pellet Plant at a capacity of 9,00,000 tonnes per annum, up from the existing 8,00,000 tonnes. Shares were up by 0.84% to Rs 250.70 on the NSE

PDS Limited announced its subsidiary, Norlanka Manufacturing Limited, acquired a 26% stake in Nobleswear Private Limited, a Sri Lanka-based children’s wear company. The acquisition is valued at approximately Rs 8.7crore. Shares up by 1.66% to Rs 573 on the BSE

State Bank of India disclosed the signing of a USD 165 million World Bank Line of Credit to finance grid-connected rooftop Solar PV Projects in the Residential and Institutional sectors. Shares up by 0.565 to Rs 647.50 on the BSE.

Brigade Enterprises has announced in an exchange filing that design engineering solutions provider Sidvin Core-Tech India Pvt Ltd has entered into an lease agreement with Brigade Group for 54,300 square feet of Grade A office space at Brigade Deccan Heights in North-West Bengaluru.

Brigade Enterprises stock rose by 1.77 per cent on the NSE, and was trading at ₹877.15 as of 10:58 am on Friday.

Winsome Yarns Limited dissolved its Wholly Owned Subsidiary, Winsome Yarns (Cyprus) Limited, along with the defunct status or liquidation of Step Down Subsidiary companies. Shares up by 1.94% to Rs 3.67 on the BSE

Benchmark equity indices began the trade on an optimistic note on Friday tracking firm global market trends.

The 30-share BSE Sensex climbed 180.55 points to 71,045.65 in early trade. The Nifty went up by 58 points to 21,313.05.

However, both the benchmark indices faced volatile trends after early optimism but later bounced back to trade with significant gains.

The Bank Nifty index is trading higher. The index is currently at 47,930, up 0.20 per cent. The advances/ declines ratio is at 11:1. This indicates the overall strength in the index. HDFC Bank, down 0.6 per cent, is the only stock in the red. Kotak Mahindra Bank is the outperformer in the index. The stock is up 1.17 per cent.

Crude oil futures traded higher on Friday morning as more shipping lines decided to avoid the Red Sea route following the attacks on merchant vessels by Houthi militants.

At 9.54 am on Friday, February Brent oil futures were at $79.96, up by 0.72 per cent, and February crude oil futures on WTI (West Texas Intermediate) were at $74.45, up by 0.76 per cent.

Nifty 50 began today’s session with 21,295.85 versus Thursday’s close of 21,255.05. The index added gains post the open and is now at 21,340, up 0.4 per cent.

The advance/decline ratio of Nifty 50 stands at 43/7, giving the index a positive bias. Like the benchmark, all mid- and small-cap indices are in the green. 

Allcargo Logistics Ltd and Allcargo Gati Ltd have announced a composite scheme of arrangement for restructuring of businesses. As per the exchange filing, International Supply Chain (ISC) business will be demerged into a separate entity called Allcargo ECU Ltd.

The company’s express business and contract logistics would come under the resulting entity Allcargo Logistics (post ISC demerger).

Cosmo First Limited’s pet care brand, Zigly, inaugurated a center in Jaipur’s Vaishali Nagar. The 1428 sq. ft. store has veterinary services, pet spa, and grooming services. Shares were up by 0.60% to Rs 604.90 on the BSE.

The rupee rose 2 paise to 83.25 against the US dollar in early trade on Friday, tracking a lower greenback on the back of easing US bond yields.

However, a muted trend in the domestic equity markets, unabated outflow of foreign funds and increased volatility in crude oil prices triggered by the geopolitical situation put pressure on the Indian currency, forex traders said.

HFCL Limited introduced 5G Fixed Wireless Access (FWA) Products. The portfolio includes four variants of 5G FWA Customer Premise Equipment (CPE) addressing connectivity requirements in both urban and rural areas. Shares were up by 4.70% to Rs 80.90 on the BSE.

Buy, TP raised to Rs 750 from Rs 615 

Well placed to roll-out mid-market strategy by Apr’24 post robust pilots. 

Leveraging existing product/service capabilities coupled with network effect will support client acquisition. 

Sweetly positioned in niche UHNI space

Overweight Call, Target Rs 485 

Chemical Integration From Oil To Chemicals Continues 

Chemical Integration Leverages Its Excess Light Feedstock To Expand Returns 

India’s $40 Bn Chemical Capacity Is Inflecting For 1st Time In A Decade 

New PP Expansion Should Be Earnings 

Overweight Call, Target Rs 10,000 

SAT Quashes SEBI Orders On Karvy; Lenders To Be Paid Their Dues With Interest 

Bajaj Finance Had Charged Off Rs 320 Cr In FY20 To Karvy 

Await Commentary From Co To Understand the Probability & Extent Of Recoverability 

If & When Received, It Could Translate To 1.7%/ 1.3% Of FY24e / FY25e PAT 

Adding Four Years Of Interest, This Could Translate To 2.4%/1.9%, Respectively

Buy Call, Target Rs 165 

Shiprocket Deal Appears Unlikely To Us (Anyway Co Denied) 

Zomato Already Owns 5% Stake Following An Investment In 2021 

Ascribe A Low Probability Of A Deal At This Stage 

Ascribe A Low Probability Of Deal As Mgmt Hands Are Full With Quick Commerce 

Co Still In Ramp-up Phase While Balancing Growth & Margin Is A Key Focus In Food Delivery 

Buy Call, Target Raised To Rs 5,000 From 4,520 

Siemens At Its FY23 Analyst Meet Discussed That Capex Outlook Remains Strong For India 

Private Sector Capex Is At An Inflection Point With Enquiries Converting To Tenders 

At A Company Level, There Is Confidence On Maintaining Profitability 

Corporate Action Could See Energy Listing Separately 

Believe Siemens Is A Good Play On Power Transmission And Railways 

The BSE Sensex was down by 0.04% or 26.57 points to 70,833.98 while NSE was up by 0.09% or 18.30 points to 21,273.35

Buy Call, Target Rs 1,350 

OEM Partnerships Have Started To Bear Fruit With Higher Conversions In PV & LCV 

Higher Tie-up Of HPHT Gas Is Compensating For APM Shortfall With Minor Price Tweak 

APM Shortfall With Minor Price Tweak Enough To Offset Rising Feedstock Cost To Defend Margin 

EV Risks Are Manageable In Our View Vis-À-Vis NCR

Top gainers on the NSE at 9.30 am include - Adani ports and special economic zone Ltd (2.41%), Hindalco industries Ltd (1.97%), Divi’s laboratories Ltd (1.78%), Tata Steel Ltd. (2.10%), Britannia industries Ltd (0.91%)

Top losers on the NSE at 9.30 am- Infosys Ltd (-0.73%), IndusInd Bank Ltd (0.32%), HDFC Bank Ltd (0.43%), Ultratech Cement Ltd (-0.32%), ICICI Bank Ltd (0.37%)

Friday saw India’s primary stock benchmarks, the Sensex and Nifty, initiate the day positively, continuing their rebound from Wednesday’s downturn. This echoes the gains observed in Asian and U.S. markets post-upbeat U.S. growth figures, indicating potential shifts in interest rates. 

In early trade, the 30-share BSE Sensex ascended by 13.48 points to reach 70,878.58, while the NSE Nifty surged 18.25 points to hit 21,273.30.

Despite a 0.9% decrease this week, both the Nifty and BSE Sensex stand to interrupt a seven-week winning streak, wherein they surged by 12.65% and 12.07%, respectively.

Siddhartha Khemka, Motilal Oswal’s head of retail research, anticipates domestic equities to fluctuate amidst the expected slowdown in global investor activity pre-holiday season.

On Wall Street, stocks closed higher following indications of weaker third-quarter U.S. economic growth, fostering expectations of a 2024 rate cut. Markets await a crucial U.S. inflation report, potentially impacting the Federal Reserve’s stance on rates, scheduled for later today. Asian markets opened on a positive trajectory.

Additionally, crude oil futures surged as more shipping lines avoided the Red Sea route due to recent Houthi militant attacks on merchant vessels. Brent and WTI oil futures rose by nearly 1%, with MCX January crude futures reaching ₹6228, up 1.53%, and February futures hitting ₹6247, up 1.36%.

Xchanging Solutions Limited announced the initiation of repayment for the remaining outstanding loan of USD 15.37 million by its wholly owned subsidiary, Xchanging Solutions USA Inc. Followed by a partial settlement of USD 22.55 million earlier in June 2023, leading to a foreign exchange gain of Rs 79.99 crore. Shares were up by 8.90% to Rs 116.52 on the BSE.

Issue Open - 22-December-23 (Today)

Issue Close - 04-January-24

Right issue Size: Rs. 49.88 Crs (0.33 Crs Shares)

Stock Price – 159.00 /-

Right issue Price: Rs. 137.45/-

Payment Terms: 100% at the time of the application

Rights Entitlement Ratio: 133 Rights Equity Shares for every 200 (Effectively 0.67 for every 1 share held).

Last Trade date (Cum Right): 14 December 2023

Ex-Right Trading date: 15 December 2023

Record Date: 15 December 2023

Right Entitlement (RE) Trading Period:- 22 December 2023 to 01 January 2024

Last day of Renunciation of Rights Entitlements: 01 January 2024

Date of Allotment (on or about): 11 January 2024

Date of listing (on or about): 17 January 2024

Route – Tender 

Buyback Price: 550/- 

Current Market Price: 474.35 /- 

Market Cap: Rs 6,913 crores 

Buyback Size: ₹90.00 Crs (representing 9.87% and 4.04% of the aggregate of the Company’s fully paid-up equity capital and free reserves) 

Buyback Size: 16,36,363 shares (representing 1.12% of O/s. shares) 

Retail Quota: 2,45,454 Shares 

Entitlement: 

General Category - 2 Equity Shares for every 207 Equity Shares held on the Record Date 

Retail Category - 13 Equity Share for every 97 Equity Shares held on the Record Date\u0009 

Buyback Record Date: 12 December 2023 

Tender Period: 

Start Date - 18 December 2023 

Close Date - 22 December 2023 (Today) 

Obligation Date - 29 December 2023 

Settlement Date - 01 January 2024

FIIS : SELL -1,636 (9,715-11,351)

DIIS : BUY +1,465 (9,750-8,285)

Crude oil futures traded higher on Friday morning as more shipping lines decided to avoid Red Sea route following the attacks on merchant vessels by the Houthis militants. At 9.07 am on Friday, February Brent oil futures were at $80.16, up by 0.97 per cent; and February crude oil futures on WTI (West Texas Intermediate) were at $74.64, up by 1.02 per cent. January crude oil futures were trading at ₹6228 on Multi Commodity Exchange (MCX) in the initial trading hour of Friday morning against the previous close of ₹6134, up by 1.53 per cent; and February futures were trading at ₹6247 as against the previous close of ₹6163, up by 1.36 per cent.

National Company Law Tribunal, Kolkata Bench, has pronounced an Order sanctioning the Scheme of Amalgamation amongst Tata Metaliks Limited and Tata Steel Limited.

LIC: Company got an exemption from the Department of Economic Affairs to achieve the 25 percent minimum public shareholding threshold within 10 years of listing

GMR Airports: Company entered into a binding agreement with the NIIF to invest Rs 675 crore in the upcoming airport at Andhra Pradesh.

MOIL: Company announced that production by December 20, crossed 16 lakh tonnes in CY2023.

Railtel: Company wins Rs 66 Cr order from Northeast Frontier Railway Construction.

Allcargo Logistics: Company has announced a scheme of arrangement where the ISC business will be demerged into a separate entity - Allcargo ECU. 

Brigade: Company announced that it has entered into a lease agreement with Sidvin Core-Tech India Private Ltd. Under the 10-year agreement, 

Infosys: Company signs 5-year collaboration with LKQ Europe (Distributor of automotive aftermarket parts) 

Signature Global: Company purchased the 8.31-acre land in Gurugram on 21 December 2023. 

Madras Fertilizers: Operations resumed at plant that was shutdown from Dec 4 Due to cyclone Michaung. 

Mining stocks: Mines Ministry to hold pre-bid conference for 1st tranche of rare minerals to auction. 

Lupin: Company has launched Softovac Liquifibre, a liquid laxative.

Kaynes Technology: Company has approved the allocation of 57.75 lakh equity shares as part of its QIP 

Tata Motors DVR: BSE & NSE approve cancellation of entire ‘A’ ordinary shares & allot ordinary shares of Tata Motors.

Bata India: Company said Pankaj Gupta will resign as Head of Retail and franchisee Operations and move to a global position in Bata group 

Suven Pharma: Himanshu Agarwal will be appointed as CFO of the company from January 2, 2024. 

Bank of Baroda: Bank said it raised ₹2,500 crore through the issuance of Basel III compliant tier II Bonds 

UPL: The Board meets to raise funds. 

Zomato: Company has denied reports that it acquired Shiprocket for $2 billion. 

Maruti Suzuki: NCLAT adjourned CCI matter, next listed for hearing on February 2, 2024. 

Coforge: Company has received an income tax demand notice of around Rs 122 crore 

MedPlus: Company has received an order from the Drugs & Control Authority on the suspension of its drug licence for five days

INSTL. INVESTORS EQUITY DERIVAT. TRADES AS ON : 21-12-2023 

FIIS F & O : RS. CRS. : 

TOTAL NET SELL : -25087 😭😭

INDEX FUT. : +212 

INDEX OPT. : -23427

STOCK FUT. : -2566

STOCK OPT. : +694

🔹SEC. IN F&O BAN FOR, 22-DEC-23 :

1. BALRAMCHIN 2.\u0009DELTACORP 3. HINDCOPPER 4. ASHOKLEY 5.MANAPPURAM 6.INDIACEM 7.RBLBANK 8. SAIL

🔹INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 21-DEC-2023 : 

FIIS : SELL -1,636 (9,715-11,351) 😥

DIIS : BUY +1,465 (9,750-8,285) 😃

BSE SENSEX : +359 (70,865)🔼 

NSE NIFTY : +105 (21,255)🔼

BSE MIDCAP. : +563 (35,620)🔼

BSE SMLCAP. : +690 (41,569)🔼

B. CRUDE : $ 79.02 🔽 🙂

GOLD: $ 2,043=INR 64,200(10gr)🔼 🙂

SILVER : RS. 79,500 (kg)(5pm)🔼😊 

FOREX : RS. $ 83.27 🔽 ☺️

7.26%GOI ‘33: 7.2188%(100.26)🔼☺️

7.18%NEW ‘33: 7.1897%(99.92)🔼☺️

7.18%GOI ‘37: 7.3008% (98.96)🔼😩

UBS on Delhivery: Initiate Buy on Company, target price at Rs 500/sh (Positive) 

MS on Bajaj Fin: Maintain Overweight on Company, target price at Rs 10000/sh (Positive) 

MS on BPCL: Maintain Overweight on Company, target price at Rs 485/sh (Positive) 

MS on Embassy REIT: Maintain Overweight on Company, target price at Rs 370/sh (Positive) 

Jefferies on MGL: Maintain Buy on Company, target price at Rs 1350/sh (Positive) 

Jefferies on Siemens: Maintain Buy on Company, raise target price at Rs 5000/sh (Positive) 

ICICI on Piramal Pharma: Maintain Buy on Company, target price at Rs 180/sh (Positive) 

Jefferies on Credit Card Data: Strong spends growth sustains; Moderation in cards growth observed in November (Positive) 

Jefferies on Zomato: Maintain Buy on Company, target price at Rs 165/sh (Neutral) 

UBS on Zomato: Maintain Buy on Company, target price at Rs 150/sh (Neutral) 

UBS on Adani Ports: Initiate Neutral on Company, target price at Rs 1175/sh (Neutral) 

UBS on Concor: Initiate Sell on Company, target price at Rs 770/sh (Neutral)

The boards of Allcargo Logistics Ltd and Allcargo Gati Ltd have approved the composite scheme of arrangement for restructuring of businesses under Allcargo Ltd and Allcargo Gati Ltd (formerly Gati Ltd). As per the scheme, International Supply Chain (ISC) business will be demerged into a separate entity, Allcargo ECU Limited. This would include the India part of International Supply Chain business along with the international subsidiaries held under the ECU Worldwide NV. Shareholders of Allcargo will get 1:1 shares in the demerged Allcargo ECU Limited and continue to hold their shares in Allcargo Logistics Limited, which will now be the resulting entity holding Express and Contract Logistics business directly. This takes into account 3:1 bonus shares approved by shareholders for Allcargo Logistics recently.

Oriental Rail Infrastructure has allotted 34 lakh shares to Mukul Mahavir Agrawal at Rs 169 a share.

Department of Finance Canada: Under Conditions, RBC Will Continue Providing Banking Services at Minimum of 33 HSBC Branches

Zomato Ltd said it remains focused on its existing businesses with no plans for any acquisition “at this moment”.

Referring to media reports on “Zomato offers to acquire Shiprocket for $2 billion”, the company cautioned investors against such incorrect news floating in the market, per the company’s regulatory filing.

“Kindly note that the Company does not comment on media speculation but is clarifying this information out of abundant caution, given the large size of the deal mentioned in the news article and the uncertainty that it may create in the market,” the company said.

• ASHOK LEY

• BALRAMCHIN 

• DELTACORP 

• HINDCOPPER

• INDIACEM

• MANAPPURAM 

• RBLBANK 

• SAIL

LIC, Tata Motors, Tata Motors DVR, Infosys, HUL, Ami Organics, Lupin, Suven Pharma, Allcargo Gati, Ceat, Kaynes Tech, Paisalo, KPI Green, Brigade Enterprises, MFL

Oil prices rose in early trade on Friday as tensions persisted in the Middle East following Houthi attacks on ships in the Red Sea, although Angola’s decision to leave OPEC raised questions over the group’s effectiveness in supporting prices.

Brent crude futures were up 23 cents, or 0.3%, to $79.62 a barrel by 0121 GMT, while U.S. West Texas Intermediate crude futures were up 22 cents, also 0.3%, at $74.11 a barrel.

More maritime carriers are avoiding the Red Sea due to vessel attacks carried out in support of Palestinians by Yemeni Houthi militant group, causing global trade disruptions through the Suez Canal, which handles about 12% of worldwide trade. - Reuters

Gold prices climbed on Friday to their highest level in nearly three weeks, as rising bets of Federal Reserve interest rate cuts early next year pushed the dollar and bond yields lower ahead of much awaited U.S. inflation data later in the day.

Spot gold was up 0.1% at $2,047.42 per ounce, as of 0109 GMT, after hitting its highest since Dec. 4 earlier in the session. Bullion has risen 1.4% so far this week. U.S. gold futures rose 0.4% to $2,058.80 per ounce. Spot silver was steady at $24.39 per ounce, while platinum eased 0.2% to $961.56 and palladium was flat at $1,213.19. - Reuters

Indian investors have upped their allocations to US technology stocks this year amid a rally in bellwether names. 

Shares of Tesla, Meta Platforms and Nvidia have soared over 100 per cent this year. Shares of Amazon, Netflix and Apple are up 77 per cent, 66 per cent and 56 per cent, respectively. Microsoft and Alphabet have risen 55 per cent.

Investment in FAANGM (Facebook, Apple, Amazon, Netflix, Google, and Microsoft) shares through online investment platform Vested Finance has risen 35 per cent year-on-year to over $40 million. Investment in companies specialising in artificial intelligence and computer chips has jumped 46 per cent to about $10 million. This includes popular AI stocks such as Nvidia, TSMC, UiPath, and ASML.

Oberoi Realty (OBER) in Q3-FY24 launched its most-awaited project in Kolshet-Thane (2.5msf) and plans to launch the Pokrhan-2 (about 15msf) project in the next 1-2 quarters. Additionally, the company plans to launch another tower in Goregaon in Q4-FY24.

Borivali Mall & Commerz-III is near completion and is expected to be given for fit-outs by the end of Q4-FY24, which will add significant rental income of ₹860 crore to the portfolio from FY25. With the OC in hand for its 3 projects, the company is expected to generate significant pre-tax cashflow (₹9,100 crore), which will help smooth execution of under-construction projects as well as allow the company to utilise it for business development. We have rationalised the average price realisation for all the projects and push some projects (annuity and resi.) to FY25 (earlier assumed H2-FY24)

Swan Energy has received a one-year extension on payment of second tranche of ₹312 crore due to Reliance Naval and Engineering lenders. As per the Resolution Plan, the company was to pay the dues to the lenders on Saturday.

However, NCLT has approved one-year extension for paying the dues along with applicable interest and the new deadline now will be December 23, 2024.

Bandhan Bank on Thursday said it has received a binding bid worth ₹280.39 crore from an asset reconstruction company (ARC) for a non-performing asset (NPA) portfolio in the housing finance segment.

The bank will take up the bidding as per the Swiss challenge method. However, the name of the ARC was not revealed by the lender.

Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS and SBI

NON-CONVERTIBLE DEBENTURES:

*NABFID accepts bids worth INR95.16 billion for 15-year bonds at 7.65% coupon

*SIDBI accepts bids worth INR40.13 billion for three-year and five-month bonds at 7.79% coupon

*HDB Financial accepts bids worth INR2 billion for 10-year subordinated bonds at 8.40% coupon

*KIIFB accepts bids worth INR15 billion for 10-year STRPP bonds at 8.95% coupon

*PNB Housing Finance accepts bids worth INR290 million for 10-year bonds at 8.13% coupon

Commercial Papers/CD

BOB 3M CD At 7.43, 2000 crs

Godrej Ind 3M At 7.55, 75 crs

Bajaj Housing Fin 3M At 7.53. 300 crs 

HDFC Sec at 8.13, 500 crs

Kotak Sec at 8.13, 500 crs

12.30 U.K. Retail Sales m/m (Expected: 0.5% versus Previous: -0.3%) 

12:30 U.K. Final GDP q/q (Expected: 0.0% versus Previous: 0.0%) 

19:00 U.S. Core PCE Price Index m/m (Expected: 0.2% versus Previous: 0.2%)

19:00 U.S. Durable Goods Orders m/m (Expected: 2.7% versus Previous: -5.4%) 

20:30 U.S. New Home Sales (Expected: 687K versus Previous: 679K)

Stocks in Asia started Friday with gains following a resurgence in US stocks driven by fresh data highlighting the growing pressure on the Federal Reserve to implement more interest rate cuts in 2024 than it previously indicated. Global market participants are also eagerly anticipating today’s release of the US core personal consumption expenditure index.

In early trading, Japan’s Nikkei 225 index rose by 0.26% or 86.41 points to reach 33,226.88, while the broader TOPIX showed a 0.56% increase, up 13.10 points to 2,339.08. South Korea’s KOSPI was also firm, trading 0.20% higher or 5.29 points at 2,605.31. Australia’s S&P/ASX 200 index climbed by 0.06% or 4.90 points to 7,509 during the initial trading session.

Benchmark U.S. crude oil for February delivery fell 33 cents to $73.89 per barrel Thursday. Brent crude for February delivery fell 31 cents to $79.39 per barrel.

Wholesale gasoline for January delivery fell 4 cents to $2.16 a gallon. January heating oil fell 1 cent to $2.70 a gallon. January natural gas rose 12 cents to $2.57 per 1,000 cubic feet.

Gold for February delivery rose $3.60 to $2,051.30 per ounce. Silver for March delivery fell 4 cents to $24.59 per ounce, and March copper rose 1 cent to $3.92 per pound.

The dollar fell to 142.25 yen from 143.83 Japanese yen. The euro rose to $1.0999 from $1.0946. - Reuters

U.S. stocks closed higher on Thursday, winning back much of the previous day’s losses, as economic data fuelled optimism that the Federal Reserve would ease monetary policy and revived investor risk appetite.

Data on Thursday showed third-quarter U.S. economic growth was not as robust as originally stated, and cracks are appearing in the tight labor market, which the Fed considers an obstacle to cooling inflation.

The Dow Jones Industrial Average rose 322.35 points, or 0.87%, to 37,404.35, the S&P 500 gained 48.4 points, or 1.03%, at 4,746.75 and the Nasdaq Composite added 185.92 points, or 1.26%, at 14,963.87. - Reuters