All You Need To Know Going Into Trade On December 1

Asian stocks were mixed Wednesday after Federal Reserve Chair Jerome Powell sought officials to consider a faster removal of monetary stimulus amid high inflation.

Shares slipped Japan and Australia and rose in South Korea, while U.S. equity futures pared earlier gains. The S&P 500 slumped almost 2% overnight and measures of equity volatility jumped on the prospect of tightening policy.

The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index's performance, was little changed at 17,072.50 as of 7:00 a.m.

Powell said the next Fed meeting should discuss whether to wrap up bond purchases a few months earlier and retired the word “transitory” to describe high inflation. That could open the door to earlier interest-rate hikes. The U.S. 10-year Treasury yield edged up while remaining below 1.50%.

The dollar was little changed, while crude oil pared a tumble and gold held a drop.

Stocks To Watch

• Maruti Suzuki India: The company expects adverse impact on vehicle production in Haryana and Gujarat plant in December due to chip shortage. Total production volume across both the locations to be around 80-85% of normal production.

• UltraTech Cement: The company has commenced mining of coal from its Bicharpur Coal mines situated in Madhya Pradesh. The mines have extractable reserves of 29 MMT.

• Rail Vikas Nigam: The company has entered into an MoU with Economic Policy Research Institute of Kyrgyz Republic for development of railway corridor projects between Bishkek to Karakechenskoye.

• NMDC: The company has fixed the price of lump ore (65.5%, 6-40mm) at Rs 5,200 per tonne, and fines (64%, -10mm) at Rs 4,560 per tonne.

• NTPC: Unit-4 of 250 MW capacity of Nabinagar Thermal Power Project of Bhartiya Rail Bijlee Company, a subsidiary company of NTPC, has commenced commercial operation. With this, the commercial capacity of NTPC group will become 67,907.5 MW.

• Indian Bank: The bank has declared the non-performing accounts of Raj Events and Entertainment (P) Ltd. and Capricorn Food Products India Ltd as fraud and reported them to the RBI.

• India Pesticides: The company has received allotment letter for additional 1,300 square metres of land adjacent to its existing Sandila Plant.

• TCS: The company has launched TCS Assessment and Migration Factory, a set of tools, accelerators, and services that enable customers to shift their mainframe workloads to the new AWS Mainframe Modernization (M2) platform.

• PB Fintech: Approved further investment of Rs 10.80 crore by Docprime Technologies, a wholly owned subsidiary of the company, in Visit Health.

• Coal India: to invest Rs 19,650 crore to boost rail transport infrastructure.

• Shriram Transport: Shriram founder forms board to manage promoter company.

Offerings

• Tega Industries IPO to open for subscription today. The company has raised Rs 185.76 crore from anchor investors. It allocated 41 lakh shares to 25 anchor investors at Rs 453 apiece.

• Star Health and Allied Insurance Company’s IPO was subscribed 12% on the first day.

Pledge Share Details

• Chambal Fertilisers & Chemicals: Promoter Zuari Global revoked pledge of 3.64 lakh shares on November 25.

  As reported on November 30.

Bulk Deals

• Go Fashion India: Nomura India Investment Fund bought 7.25 lakh shares at Rs 1,277.97 per share. Nomura Funds Ireland bought 2.75 lakh shares at Rs 1,277.97 per share.

• DCB Bank: Ishares Core Emerging Markets Mauritius Co sold 16.45 lakh shares (0.53%) at Rs 82.3 per share.

• Ipca Laboratories: Integrated Core Strategies (Asia) Pte bought 25.46 lakh shares (2.01%) at Rs 2,103.52 per share.

• REC: Integrated Core Strategies (Asia) Pte bought 2.18 crore shares (1.11%) at Rs 134.46 per share.

• Godrej Properties: Integrated Core Strategies (Asia) Pte sold 28.49 lakh shares (1.02%) at Rs 1,997.77 per share.

• IRCTC: Integrated Core Strategies (Asia) Pte sold 51.52 lakh shares (3.22%) at Rs 794.4 per share.

• Mindtree: Integrated Core Strategies (Asia) Pte sold 16.21 lakh shares (0.98%) at Rs 4,318.82 per share.

• Mphasis: Integrated Core Strategies (Asia) Pte sold 21.51 lakh shares (1.15%) at Rs 2,895.9 per share.

• SRF: Integrated Core Strategies (Asia) Pte sold 35.20 lakh shares (5.94%) at Rs 2,001.89 per share.

• Tata Power Co.: Integrated Core Strategies (Asia) Pte sold 3.28 crore shares (1.03%) at Rs 216.48 per share.

• Zomato: Integrated Core Strategies (Asia) Pte sold 4.17 crore shares (0.53%) at Rs 151.87 per share.

Insider Trades

• DB Realty: Promoter Vinod Goenka HUF bought 50,000 shares on November 29.

• Phillips Carbon Black: Promoter STEL Holdings bought 5 lakh shares on November 30.

• Man Infraconstruction: Promoter Parag Shah bought 1.51 lakh shares on November 29.

• Meghmani Finechem: Promoters (Kruti Patel, Adesh Patel, Maulik Patel and Rameshbhai Patel) bought 42,500 shares between November 23-29.
  Usha Martin: Promoter Peterhouse Investments sold 5 lakh shares between November 26-29.

Who’s Meeting Whom

• Apollo Tyres: To meet Investec Capital Services (India) on December 1.

• Tata Consumer Products: To meet Ratnabali Investment on December 1.

• Mold-Tek Packaging: To meet IDFC MF on December 1, Max life on December 2, and Bajaj Allianz on December 3.

• India Pesticides: To meet Dolat Capital on December 1.

• Krishna Institute of Medical Sciences: To meet UTI MF on December 1.

• Themis Medicare: To meet Lucky Securities on December 1.

• TCS: To meet Fidelity Management & Research, Hong Kong on December 2.

• Escorts: To meet Wellington Management on December 2.

Trading Tweaks

• Move Into Short-Term ASM Framework: One 97 Communications, Jaiprakash Associates, ISMT, Raymond, HCL Infosystems

• Move Into ASM Framework: Nagarjuna Fertilizers and Chemicals

• Move Out Of ASM Framework: HDIL

Money Market Update

• The rupee ended at 75.16 against the U.S. Dollar on Tuesday as compared to Monday's closing of 75.09.

Economic Data

• Market India Manufacturing PMI for November due today

Analyst Actions

• Honeywell Automation rated 'new buy' at Equirus Securities; price target: Rs 48,250

• Zomato rated 'new hold' at Edelweiss Capital; price target: Rs 151

F&O Cues

• Nifty November futures ended at 17,036.95; a premium of 53.75 points.

• Nifty November futures added 3.70% and 8,097 shares in Open Interest

• Nifty Bank November futures ended at 35,711; a premium of 15.7 points

• Nifty Bank November futures added 4.08% and 4,098 shares in Open Interest

• Securities in the ban list: India Bulls Housing Finance

Top Research Reports

• Ecowrap - GDP Growth Likely To Top 9.5% In FY22: SBI Research

• India’s Economy In Q2 FY22 - Recovery Gaining Traction: CARE Ratings

• Tega Industries IPO - Leading Player Of Mill Liner Mining Consumables: ICICI Direct

• Emami Management Meet Update - Cost Control, Re-Engineering Synergies To Support Margins: Dolat Capital