All You Need To Know Going Into Trade On December 11
Traffic travels along a highway as residential buildings stand in the background in the Chembur area in Mumbai, India. (Photographer Dhiraj Singh/Bloomberg)

All You Need To Know Going Into Trade On December 11

Asian markets have begun the final trading day of the week on a mixed note.

Benchmark indices in Japan and South Korea are rising while those in Australia have slipped.

Treasuries retained Thursday's advance while oil prices continue to rebound.

The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.24% to 13,557 as of 7:05 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.

Let’s take a look at the factors that may influence equities in today’s session:

  • Futures on the Dow Jones are currently trading 50 points higher. The index ended 0.2% lower on Thursday.
  • Hopes of a stimulus package rose in the U.S. after treasury secretary Steven Mnuchin and House Speaker Nancy Pelosi cited progress towards an agreement.
  • Employment data reported in the U.S. on Thursday revealed that widening business shutdowns to curb the pandemic are spurring fresh job losses.
  • The pound fluctuated as U.K. Prime Minister Boris Johnson warned Britain should prepare to leave the European Union without a trade deal.
  • Yield on the 10-year treasuries stood at 0.91%.
  • West Texas Intermediate crude rose 0.6% to $47.05 per barrel. Brent crude crossed the $50 per barrel mark for the first time since the pandemic.

Get your daily fix of the global markets here.

All You Need To Know Going Into Trade On December 11

Stock To Watch

  • IRCTC: Non-retail OFS gets demand for 198% of the shares on offer. OFS for retail investors to open today. The government will exercise the greenshoe option to sell another 5% stake in the company.
  • HDFC Bank: RBI has imposed a fine of Rs 10 lakh on the bank for bouncing of SGL which lead to shortage of balance in certain securities in the bank’s CSGL account on November 19, 2020.
  • Dalmia Bharat: CCI has initiated investigation against cement companies, including Dalmia Cement (Bharat) Limited regarding anti-competitive behaviour. The company said they continue to conduct business in compliance with the provisions of competition laws and are providing full cooperation to the authorities.
  • United Spirits: Has announced Hina Nagarajan as CEO - Designate from April 1, 2021. Hina Nagarajan will assume office as the new Managing Director & Chief Executive Officer of the Company from July 1, 2021. Current MD & CEO Anand Kripalu to step down on June 30, 2021. Hina Nagarajan is currently the Managing Director, Africa Regional Markets at Diageo.
  • Federal Mogul Goetze: Non-retail OFS gets demand for 17,681 shares out of the total 1.04 crore shares on offer. The company's promoters plan to sell nearly 21% stake through the OFS.
  • TCS: Has expanded its business operations in Austin, Texas with the construction of a new facility, doubling its presence to more than 400 professionals in the city and adding to its 5,500+ employees across the state. The new facility will officially open in late December 2020 and have space for 367 employees. Over the next seven years, TCS will invest more than $100 million in Austin.
  • Ircon International: Awarded the work of upgradation of Gurgaon-Pataudi-Rewari section of NH-352W as feeder route in Haryana by the NHAI. The order has been awarded on a Hybrid Annuity Mode and is valued at Rs 900 crore. The work will be undertaken an executed by an SPV which shall by incorporated by the company as its wholly-owned subsidiary.
  • Gayatri Projects: Has received three Letter of Award for Pipe Drinking Water Schemes from Namami Gange and Rural Water Supply Department of Uttar Pradesh, in joint venture where the Company's share is 97.5%, for a total value of Rs 1,332 crore. All the above LOAs pertain to the water division.
  • PNC Infratech: Received Letter of Acceptance for Rural Water Supply Project in 952 villages in Devipatan Division of Uttar Pradesh from the State Water Supply & Sanitation Mission, Namami Gange & Rural Water Supply Department. The approximate value of the project is Rs 952 crore.
  • Info Edge: Sets up an Alternative Investment Fund named Info Edge Venture Fund. The trust has been registered as a Category II AIF, sponsored through its wholly-owned subsidiary. The fund has a target corpus of Rs 750 crore with a mandate of investing in early stage technology companies. It has also entered into a contribution agreement with MacRitchie Investments, an indirect wholly-owned subsidiary of Temasek Holdings for a contribution commitment of Rs 375 crore.
  • Bank of Baroda: Reduced Marginal Cost of Funds Based Lending Rate by 0.05% across tenors.
  • JSW Energy: The company’s Carbon Disclosure Project Rating has been upgraded to B in 2020 from C 2019. This is the highest rating achieved by any Power producer in India. Carbon Disclosure Project is a U.K.-based Organization that helps companies and cities to disclose their environmental impacts by capturing and evaluating the environmental data and thereby assigning a rating.
  • Mahindra & Mahindra: ICRA reaffirmed rating of Non-convertible Debenture Programme of Rs 1,500 crore to AAA/Stable and assigned a AAA/Stable rating to long-term loans worth Rs 1,800 crore. The rating agency also reaffirmed its rating of short-term, non-fund based facilities worth Rs 350 crore to A1+. Similarly ICRA also reaffirmed AAA/Stable rating to long-term, fund-based facilities worth Rs 15.27 crore and long-term, non-fund based facilities worth Rs 57.50 crore.
  • Indian Bank: Appropriated losses worth Rs 18,975.3 crore from the bank's share premium account. The move has approval from the RBI.
  • Canara Bank: Approves closure of the QIP issue. Issue price is at Rs 103.5 per share, which was also the floor price.
  • Kalpataru Power: Has decided to keep the proposal of construction of a corporate office in abeyance. The company on December 8 had announced that it has authorised capex worth Rs 207 crore towards purchase of land and a further 170 crore towards construction, municipal charges, taxes and for other approvals to construct a corporate office of about 1.79 lakh square feet of leasable area near its existing office in Mumbai.

Pledge Share Details

  • Adani Power: Promoter Adani Tradeline revoked pledge of 2.42 crore shares on December 7.

As reported on December 10.

Who’s Meeting Whom

  • Mahindra Logistics: To meet Sharekhan Research and Infina Finance on December 11.
  • Mahanagar Gas: To meet IIFL AMC on December 14.
  • Prince Pipes and Fittings: To meet Nomura Asset Management and White Oak Capital Management Consultants LLP on December 11.
  • Gujarat Pipavav Port: To meet Tata Mutual Fund and Centrum Broking on December 16.
  • Balrampur Chini Mills: To meet ICICI Prudential Mutual Fund and JM Financial Institutional Securities on December 11.

Trading Tweaks

  • AGM: Sanghvi Forging and Engineering, Simbhaoli Sugars, Visa Steel,
  • Price Band Revised From 10% To 5%: Adani Power Limited, GTL Infrastructure, Yes Bank.
  • Price Band Revised From 20% To 10%: IFCI, PC Jeweller, Shipping Corporation Of India.
  • Move In To ASM Framework: Surya Roshni, TVS Electronics, HPL Electric & Power, Walchandnagar Industries, Reliance Capital, Bombay Rayon Fashions, Future Supply Chain Solutions, Zee Learn.
  • Move In To Short-term ASM Framework: Indo Rama Synthetics (India), The South Indian Bank, Mukand, Dish TV India, Kuantum Papers.
  • Move out of short-term ASM: ABB Power Products and Systems India, Man Infraconstruction.

Insider Trades

  • Great Eastern Shipping: Promoter Gopali Mulji sold 90,000 shares between December 8-9.
  • Vardhman Textiles: Promoter Vardhman Holdings acquired 55,640 shares between December 7-9.
  • Filatex India: Promoters Anu Bhageria and Vedansh Bhageria acquired 27.25 lakh shares between December 7-9.
  • NRB Bearings: Promoters Aziz Yousuf Zaveri and Harshbeena Zaveri acquired 86,089 shares between December 4-9.
  • Man Infraconstruction: Promoter Parag Shah acquired 1 lakh shares on December 9.
  • Sadbhav Infra: Promoter Sadbhav Engineering acquired 54,262 shares on December 8.

As Reported On December 10.

Money Market Update

  • The currency ended at 73.66 against the U.S. Dollar on Thursday as compared to Wednesday's close of 73.57.
  • The rupee was the second worst performer in Asia on Thursday.
All You Need To Know Going Into Trade On December 11

F&O Cues

  • Nifty December futures end at 13,521; premium of 43 points
  • Nifty December futures shed 6.2% and 7.7 lakh shares in Open Interest
  • Nifty Bank December futures end at 30,614; premium of 104 points
  • Nifty Bank December futures shed 7.7% and 1.3 lakh shares in Open Interest
  • Nifty Put-Call Ratio at 1.85
  • Stocks In F&O Ban: Canara Bank, Punjab National Bank

Nifty: December 17 Expiry

  • Maximum Open Interest on Call side at 14,000 strike (17.7 lakh shares)
  • Maximum Open Interest on Put side at 12,500 strike (14.37 lakh shares)
  • Active Options: 14,000 Call (+11.3 lakh shares) and 12,500 Put (+9.5 lakh shares)

Nifty: December 31 Expiry

  • Maximum Open Interest on Call side at 13,000 strike (24.1 lakh shares)
  • Maximum Open Interest on Put side at 13,000 strike (37.2 lakh shares)
All You Need To Know Going Into Trade On December 11
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