All You Need To Know Going Into Trade On December 23

Asian stocks gained Thursday after U.S. shares rose, as concerns over omicron variant ease a bit. A trio of studies of preliminary data from Scotland, Imperial College, London and South Africa showed that omicron strain may be less likely to land patients in the hospital than the delta strain.

Equities rose in Japan, Australia and South Korea. Trading volumes thinned in the run-up to Christmas. U.S. futures were little changed after the S&P 500 reached within touching distance of its record high.

The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index's performance, rose 0.56% to 17,072.50, as of 7:10 a.m.

Treasury yields were steady. Oil hovered around a four-week high $73 a barrel. Bitcoin slipped toward $48,000.

Stocks To Watch

• Zomato: Zomato, Swiggy, Ola and Uber served petition filed by the Indian Federation of App-Based Transport Workers. Petitioners seek directions from the Supreme Court to the government to notify or recognize app based workers as 'workers' or alternatively as 'unorganised workers' or 'wage workers' under various labour legislations.

• Zee Entertainment: Brand Zee gets merged in the new entity. New merged board will decide which brand to keep, says Punit Goenka.

• Vedanta: Proposes to offer NCDs aggregating up to Rs 1,000 crore in one or more tranches and in this regard, is holding a meeting of directors on Dec. 27.

• Tata Motors: Incorporated a wholly owned subsidiary named Tata Passenger Electric Mobility Ltd.

• Axis Bank: Approves allotment of Rs 2,600-crore worth debentures at 6.99%.

• Indiabulls Real Estate: Approves raising of up to Rs 1,500 crore via qualified institutional placement.

• Cineline, PVR: Cineline to re-enter exhibition business via owned properties, to acquire additional properties on lease. Its various leave and license agreements with PVR are expiring in March 2022.

• Great Eastern Shipping: To consider share buyback proposal on Dec. 27.

• Mahindra CIE: To meet on Feb. 22 to consider Q3 results.

• Somany Ceramics: National Company Law Tribunal, Kolkata Bench has pronounced an order approving the scheme of amalgamation of Schablona India Limited with self.

• Kotak Mahindra Bank: Kotak Mahindra Prime acquires the Indian captive financing arm of Ford Motor Company, Ford Credit India. Acquisition gives Kotak Prime access to over 16,000 customers with outstanding loans of Rs 425 crore.

• Mindspace REIT: CRISIL Ratings has assigned ‘CRISIL AAA/Stable’ to its non-convertible debentures of upto Rs. 100 Crores.

• The Phoenix Mills: National Company Law Tribunal, Mumbai Bench has approved the scheme of merger by absorption of Phoenix Hospitality Company Pvt. Ltd. into the company.

• Inox Wind Energy: To consider the proposal for raising of funds by way of private placement/ preferential issue of one or more instruments including equity shares on Dec. 27.

• HFCL: Received the purchase order of Rs 119.1 crore, from one of the network and engineering service providers, for supply of optical fibre cables.

• Jubilant Foodworks: Morgan Stanley says 5-6% price hikes across the Dominos India portfolio is a 'positive' for the company, as it will partially offset margin pressure. The brokerage said Jubilant is in an opportune position to capitalise on the growth prospects for the organised food service industry in India.

Offerings

• CMS Info Systems IPO subscribed 69% on day two.

Listings

• MedPlus Health to list today. The issue was subscribed 52.59 times.

Pledge Share Details

• Asahi India Glass: Promoter and Director Sanjay Labroo revoked a pledge of 1,00,000 shares on Dec. 20.

• Jayaswal Neco Industries: Promoter Group Jayaswal Neco Metallics Pvt. Ltd. revoked a pledge of 73,84,281 shares on Dec. 20.

• Sun Pharmaceutial Industries: Director Sailesh T. Desai created a pledge of 15,000 shares on Dec. 20.

• Ajanta Pharma: Promoter Ravi Agrawal, Trustee Ravi Agrawal Trust revoked a pledge of 2,61,800 shares on Dec. 21. Promoter Aayush M Agrawal, trustee Aayush Agrawal Trust created a pledge of 6,00,000 on Dec. 21.

• Crompton Greaves Consumer Electricals: Secretary and Compliance Officer Pragya Sahal Kaul created a pledge of 16,070 shares on Dec. 21.

• IIFL Wealth Management: Promoter and Director Karan Bhagat created a pledge of 2,09,000 shares on Dec. 20. Promoter Group Shilpa Bhagat created a pledge of 11,00,000 shares on Dec. 20.

Insider Trades

• Chambal Fertilisers & Chemicals: Promoter Group Adventz Finance Pvt. Ltd. bought 2,00,000 shares on Dec. 20.

• Maharashtra Seamless: Promoter Group Sudha Apparels Ltd. bought 75,032 shares between Dec. 17 and Dec. 20.

• Mukand: Promoter Group Bachhraj & Company Pvt. Ltd. bought 73,924 shares between Dec. 17 and Dec. 20.

• Bajaj Holdings & Investments: Promoter Group Bachhraj Factories Pvt. Ltd. bought 69,179 shares between Dec. 17 and Dec. 20.

• CCL Products (India): Promoter and Director Challa Srishant bought 12,775 shares on Dec. 21.

• Kitex Garments: Promoter and Director Sabu M. Jacob bought 66,850 shares on Dec. 20.

• Vaibhav Global: Promoter Group Brett Enterprises Pvt. Ltd. bought 5000 shares on Dec. 21.

Bulk Deals

• Sintex Industries: Manjeet Cotton sold 35 lakh shares (0.58%) at Rs 13.3 apiece on Dec. 22.
  

Who’s Meeting Whom

• RBL Bank: Met ApaH Capital Management on Dec. 21 and Surveyor Capital on Dec. 22.

• Max Healthcare: To meet Polar Capital, Putnam Investments and Canara Robeco MF on Dec. 23.

• Polycab India: To meet IIFL AMC on Dec. 23.

• Cipla: To meet ​​Antique Stock Broking Ltd. on Dec. 23.

• IndusIns Bank: Met ICICI Securities Ltd. on Dec. 22.

• Narayana Hrudalaya: Met Quantum Mutual Fund on Dec. 21 and ICICI Prudential Mutual Fund on Dec. 22.

• ICICI Prudential: Met UTI Asset Management Company on Dec. 22.

• ICICI Lombard General Insurance: Met Batlivala & Karani Securities India on Dec. 22.

Trading Tweaks

• Price Band Changed From 10% To 5%: Sarveshwar Foods, STL Global.

• Shortlisted In Long-Term ASM Framework Stage-I: Steel Exchange India.

• Shortlisted In Short-Term ASM Framework Stage-I: Precision Wires India.

• Record Date Interim Dividend: Power Grid Corporation, Can Fin Homes.

• Record Date Final Dividend: Brightcom Group.

• Stock Split Record Date: Precision Wires.

Bond Sales/Purchases

• RBI to conduct Rs 2 lakh crore, 4-day variable rate reverse repo auction.

Money Market Update

• The rupee ended at 75.55 against the U.S. dollar on Wednesday as compared to Tuesday’s closing of 75.91.
  

Analyst Actions

• Spicejet: Raised to ‘accumulate’ from ‘reduce’ at Elara Securities, target price set at Rs 70.

• IndiGo: Raised to ‘buy’ from ‘accumulate’ at Elara Securities, target price set at Rs 2,252.

• Zee Entertainment: Cut to 'accumulate' from 'buy' at Dolat Capital, price target at Rs 382.

• KNR Constructions: DAM Capital initiated coverage on the stock with an 'outperform' recommendation; price target at Rs 375.

F&O Cues

• Nifty December futures ended at 16,976.25; a premium of 20.8 points.

• Nifty December futures shed 1.06% and 2,066 shares in Open Interest.

• Nifty Bank December futures ended at 35,155; a premium of 125.5 points.

• Nifty Bank December futures shed 0.13% and 122 shares in Open Interest.

• Securities in the ban list: Escorts, Indiabulls Housing Finance, Zee Entertainment Enterprises.

• Securities added to the ban list: Vodafone Idea.

Top Research Reports

• Automobiles Channel Checks - Demand, Profitability Pressure Persists: Nirmal Bang

• India Covid Recovery Tracker - Economic Activity Holds Up Despite Looming Omicron Threat: Nirmal Bang

• BFSI - Changing Landscape For Banks, NPA Issues Behind: ICICI Direct

• Axis Bank - Systematix Analyses Impact Of The Likely Acquisition Of Citi Bank's India Retail Assets

• Amul Annual Report Takeaways - Vision Of Long-Term Growth: ICICI Securities