All You Need To Know Going In To Trade On January 1
Here’s wishing all you readers a very happy 2021!
Most Asian equities are shut today on account of the New Year holiday.
U.S. markets climbed to a record high on the final trading day of the year, amid thin volumes. The U.S. Dollar rebounded from a two-and-a-half year low.
Financial companies were among the best performers while energy producers underperformed.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.
Stocks To Watch
- Mahindra & Mahindra: Ford along with the company have pulled out of a proposed joint venture. The companies agreed to terminate the venture after reassessing in part due to the pandemic. The deal was signed more than a year ago, under which Ford was expected to fold its local operations, including two factories, into a JV that would be majority-controlled by Mahindra. Ford has said that its standalone operations in India will continue as is.
- TCS: The Board of Directors to consider declaration of a Third Interim Dividend to the equity shareholders on January 8.
- InterGlobe Aviation: Said that some of their servers were subject to a hacking incident earlier in December. The carrier said that as some segments of data servers were breached, there is a possibility of some documents getting uploaded on public websites and platforms. The airline has said that the incident will be investigated in detail.
- Bharat Dynamics: With the announcement from the Union Cabinet regarding clearance of Akash Weapon System for Export, Bharat Dynamics Limited, the manufacturer of Akash Missile is geared up to take up export order. The Akash Weapon System, designed and developed by DRDO with 96% indigenous content, is being manufactured by BDL at its Hyderabad Unit with a large number of supply chain partners which include DPSUs, MSMEs and private industry.
- Zensar Technologies: Board of Directors to consider and approve a proposal for payment of Interim Dividend, for the Financial Year 2020- 21 on January 21.
- MOIL: The company has fixed/revised prices of different grades of Manganese Ore and other products, effective from January 1, 2021. The prices of all Ferro grades of manganese ore having Manganese Mn-37% and above have been increased by 10% and all the other Ferro grades of Manganese Ore having Manganese below Mn-37% have been increased by15 % on the prices prevailing since December 1, 2020. The prices of all SMGR grades (Mn-30% & Mn-25%) and all grades of Fines have been increased by 15%. The prices of all grades of chemical grades of manganese ore have been increased by 10%.
- Jindal Steel & Power: The Ministry of Coal has declared Jindal Power as the successful bidder for Gare Palma IV/1 Mine. The company won the auction for the coal mine at 25% bid premium of the representative price.
- IDBI Bank: Has completed sale of its 23% stake in IDBI Federal Life Insurance Company to Ageas Insurance International JV on December 31 for Rs 507.10 crore. IDBI Bank's shareholding in IFLI now stands at 25% from the earlier 48%. Following this transaction, the joint venture has been rebranded as Ageas Federal Life Insurance Company Limited.
- Infibeam Avenues: Has divested its 100% ownership with control in its wholly-owned subsidiary, Cardpay Technologies, to its subsidiary, Instant Global Paytech. Hence, Cardpay will become a step-down subsidiary of the company.
- Canara Bank: Has issued and allotted 16,350 Basel-III Compliant Additional Tier-I Bonds amounting to Rs 1,635 crore.
- Aavas Financiers: The Executive Committee of the Board of Directors has approved the allotment of 1000 secured NCDs of face value of Rs 10 lakh each aggregating up to Rs 100 crore to Kotak Mahindra Bank on a Private Placement Basis. The coupon payable on the Debentures is floating rate linked to the Repo Rate plus 2.63% per annum. The Final Schedule Maturity Date is December 31, 2025.
- Spandana Sphoorty Financial: The Management Committee of the Board of Directors has approved the issuance of up to 2,500 secured NCDs having face value of Rs 1 lakh each aggregating up to Rs 25 crore with the green shoe option up to 2,500 secured NCDs.
- IRB Infrastructure Developers: The Thane Ghodbunder Toll Road Pvt Ltd - a wholly owned subsidiary of the company, has received a communication from MSRDC granting interim extension of concession period of Thane-Ghodbunder BoT Project up to January 30, 2021. On the basis of the claim submitted by the SPV, the total extension period is expected to be beyond January 30, 2021.
- Satin Creditcare Network: The Working Committee has allotted 1,500 NCDs of Rs 10 lakh each aggregation Rs 150 crore on a Private Placement basis for tenure of 18 months from the date of allotment. The coupon/interest offered is fixed at 10.30% per annum.
Pledge Share Details
- Emami: Promoter Raviraj Viniyog revoked pledge of 4 lakh shares on December 29.
- Jindal Steel & Power: Promoter OPJ Trading created a pledge of 34 lakh shares on December 24.
- JSW Energy: Promoters Glebe Trading and Danta Enterprises created a pledge of 1.64 crore shares on December 29.
- Bliss GVS Pharma: Promoters Gautam Rasiklal Ashra and Arjun Gautam Ashra created pledge of 1.40 lakh shares on August 31.
- Orient Cement: Promoter Shekhavati Investments and Traders created pledge of 18 lakh shares on August 28.
As Reported On December 31.
- Cybertech Systems & Software: Promoter Steven Llyod Jeske sold 1.50 lakh shares (0.54%) at Rs 162.62 per share.
- Hemisphere Properties India: East Bridge Capital Master Fund I sold 26.70 lakh shares (0.94%) at Rs 96.88 per share.
- Fairchem Organics: Rajasthan Global Securities bought 70,124 shares at Rs 629.96 per share.
- Kirloskar Pneumatic: Acacia Partners LP sold 3.79 lakh shares (0.59%) at Rs 152 per share.
- Sterling and Wilson Solar: Khurshed Yazdi Daruvala sold 26.30 lakh shares at Rs 230.63 per share.
Who’s Meeting Whom
- Dixon Technologies (India): To meet Emkay Global on January 1.
- Neuland Laboratories: To meet Mahindra Manulife Investment Management on January 1.
- Mahindra Lifespace Developers: To meet Motilal Oswal PMS on January 5.
- Listing Today: Antony Waste Handling Cell
- Record Date Buyback: Engineers India, Industrial & Prudential Investments.
- Move In To Short-term ASM Framework: Borosil, Snowman Logistics.
- Move Out Of Short-term ASM Framework: Religare Enterprises
- Move In To ASM Framework: APL Apollo Tubes
- Move Out Of ASM Framework: Bafna Pharmaceuticals, The Orissa Minerals Development Company.
- Mangalam Cement: Promoters Rambara Trading and Avayaan Vikram Jalan acquired 64,400 shares between December 30-31.
- Vardhman Textiles: Promoter Vardhman Holdings acquired 39,191 shares between December 28-30.
- NRB Bearings: Promoter Aziz Yousuf Zaveri acquired 56,334 shares between December 29-30.
- Bhageria Industries: Promoters Suresh Bhageria and Rakesh Bhageria acquired 42,322 shares between December 29-30.
- Medicamen Biotech: Promoter Shivalik Rasayan acquired 27,500 shares on December 30 and promoter Growel Remedies sold 27,500 shares on December 30.
- Man Infra: Promoter Parag Shah acquired 53,089 shares on December 30.
- Vardhman Special Steels: Promoter Sachit Jain acquired 12,500 shares between December 28-30.
- HG Infra Engineering: Promoter Hodal Singh acquired 45,500 shares on December 30.
As Reported On December 31.
Money Market Update
- The currency ended at a four-month high on Thursday, ending at 73.06 against the U.S. Dollar, as compared to Wednesday's close of 73.30.
- The rupee however, was the worst performer among Asian currencies for 2020.
- Nifty January Futures end at 13,998; premium of 17 points
- Nifty January futures add 31.2% and 28.1 lakh shares in Open Interest
- Nifty Bank January futures end at 31,275; premium of 11 points
- Nifty Bank January futures add 34.1% and 14.1 lakh shares in Open Interest
- Nifty Put-Call Ratio at 1.47
- Stocks In F&O Ban: None
Nifty: January 7 Expiry
- Maximum Open Interest on Call side at 14,000 strike (20.3 lakh shares)
- Maximum Open Interest on Put side at 14,000 strike (13 lakh shares)
- Active Options: 14,000 Call (+10.3 lakh shares) and 14,000 Put (+8.2 lakh shares)
Nifty: January 28 Expiry
- Maximum Open Interest on Call side at 14,000 strike (18.6 lakh shares)
- Maximum Open Interest on Put side at 13,500 strike (17.7 lakh shares)