All You Need To Know Going Into Trade On Dec. 2

Stocks in Asia rose along with U.S. equity futures as investors weighed data on China’s economy that showed a bright spot for manufacturing and the latest news on the trade front.

S&P 500 futures edged up and shares opened higher in Sydney, Seoul and Tokyo. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.1 percent to 12,089.00 as of 6:53 a.m.

Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.

Here’s a quick look at all that could influence equities today.

• U.S. stocks dropped from record highs on Friday in the wake of lower European and Asian equities, rounding out a lackluster finale to the third straight month of gains for global benchmarks.
• Oil recovered some lost ground in Asian trade on Monday after an upbeat Chinese economic report at the weekend offered grounds for optimism on the global demand outlook.

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Datawatch

• Markit India manufacturing PMI for November will be released at 10:30 a.m.
• India GDP growth falls to 4.5% in July-September quarter.
• India’s fiscal deficit in October at 102.4% of 2019-20 target.
• India’s core industries contract the most in fourteen years in September.

Indian ADRs

Stocks To Watch

• Yes Bank: After a 12-hour long board meet on Friday, the board of the company approved the issue of $2 billion worth of equity shares on a preferential basis to a clutch of investors.
• RBL Bank's board has approved the lender’s plan to raise about Rs 825 crore via preferential issue of shares, according to an exchange notification. The private lender plans to sell 24,238,310 shares aggregating at Rs 340.70 apiece, it said in a statement. Of the Rs 825 crore, Bajaj Finance Ltd. and East Bridge Capital Master Fund I will be investing nearly Rs 150 crore each, WF Asian Reconnaissance Fund will infuse Rs 224 crore, lshana Capital Master Fund and FEG Mauritius FPI will be investing about Rs 214 crore and 86 crore, respectively, the statement said.
• Bharti Airtel, Reliance Industries, Vodafone Idea: India’s three largest telecom firms on Sunday announced new and costlier prepaid plans, signalling an easing of a price war that started after Asia’s richest man entered the sector in 2016. Airtel and Vodafone Idea’s new plans will be effective Dec. 3; Reliance Jio's will roll out on Dec. 6. The incumbents raised the minimum monthly recharge plan to Rs 45 from Rs 39 earlier, while the upstart didn’t disclose its plan details. Reliance Industries' telecom unit—Reliance Jio, however, said that its customers will get up to 300 percent more benefits under the new prepaid plans and will offer fair usage policy for outgoing calls to rival telecom networks. Besides, Bharti Airtel plans to consider raising funds via debt and equity on Dec. 4.
• DHFL: The Reserve Bank of India has filed for insolvency proceedings to be initiated against the company. The action, it said, was initiated under powers vested with it through a recent amendment to the Insolvency and Bankruptcy Code.
• Adani Group: The Zurich Airport International AG was on Friday was selected as the concessionaire for developing the Jewar airport, billed to be the biggest airport in India upon completion, PTI reported quoting officials. The Switzerland-headquartered company made the highest per passenger bid for the airport, outbidding competitors like Delhi International Airport Ltd., Adani Enterprises Ltd., and Anchorage Infrastructure Investments Holdings Ltd., the report added.
• Infosys gets deal for digital solutions from Services Australia.
• NCC: Reliance Nippon Life Asset Management reduced stake to 4.87 percent from 5.58 percent in the company.
• Jagran Prakashan to consider share buyback on Dec. 9.
• Shoppers Stop has opened a new store in Kolkata. Company now has 86 stores under its operations.
• NTPC has listed its commercial paper in BSE for an issue size of Rs 1,500 crore.
• Kohinoor Foods has requested Oriental Bank of Commerce to keep all its actions-on hold and has already submitted the one-time settlement proposal to the bank for their consideration.
• 5paisa Capital’s arm received certificate of registration to act as a non-banking financial company for P2P business from the RBI with effect from Nov. 29.
• Reliance Power: ICRA has upgraded the company’s arm Rosa Power Supply Company’s long term rating and short term rating to ICRA B+ and ICRA A4, respectively from ICRA D citing regularisation of debt servicing in the current financial year by the company, track record of the plant operations and the adequate coal availability.
• Vedanta plans to offer up to Rs 3,000 crore in non-convertible debentures.
• Sun Pharma must face antitrust suit over Nexium, Diavan Generics, reports Bloomberg.
• Cochin Shipyard signed agreement with Andaman & Nicobar administration for operation and management of the marine dockyard in Port Blair and for development of ship repair ecosystem for the islands. Company will be entitled to a management fee of Rs 15 crore per annum.
• Bank of India said board will meet on Dec. 5 to consider raising funds via QIP.
• Dilip Buildcon wins Rs 1,250 crore road project in Uttar Pradesh.

November Auto Sales Highlights (YoY)

• Maruti Suzuki: Total Sales down 2 percent to 1,50,630 units (Bloomberg Estimate: 1,46,598 units)
• Tata Motors: Total sales down 25 percent to 41,124 units (Bloomberg Estimate: 38,780 units)

M&M

• Auto sales down 9 percent to 41,235 units (Bloomberg Estimate: 41,764 units)
• Mahindra Tractor Sales Down 19 percent to 21,032 units (Bloomberg Estimate: 23,706 units)

Catch all the live auto sales update here.

New Offerings

• Ujjivan Small Finance Bank has finalised allocation of 8.21 crore shares to anchor investors at a price of Rs 37 per share. Key anchor investors are Government of Singapore, CX Partners Fund and Goldman Sachs.