All You Need To Know Going Into Trade On December 24
Stocks rose Friday as concerns over the omicron strain eased a bit after a U.K. study suggested that the infections are less likely to lead to hospitalisation.
Shares climbed in Japan, South Korea and Australia. The S&P 500 hit a record Thursday.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index's performance, rose 0.33% to 17,127.50, as of 6:40 a.m.
Crude oil inched toward $74 a barrel. Bitcoin held above $50,000 after breaching that level for the first time in almost two weeks.
Stocks To Watch
Adani Enterprises: Incorporates wholly-owned subsidiary names Adani Data Networks Ltd.
Allcargo Logistics: Board has approved a scheme of demerger wherein all container freight stations, inland container depots and any other related logistics businesses of the company will be demerged into Allcargo Terminals Pvt. Ltd. All engineering and equipment leasing and hiring solutions, logistics park, warehousing, real estate development and leasing activities and other related businesses will be demerged into Translndia Realty & Logistics Parks Ltd. Scheme yet to be approved by NCLT. The company would continue to run and operate remaining businesses. Scheme could take effect from April 1, 2022.
L&T Finance Holdings: Company to sell its mutual fund business L&T Investment Management to HSBC AMC for $425 million.
United Breweries: NCLAT stays CCI order imposing a penalty of Rs 751.8 crore upon a condition of pre-deposit of 10% of the penalty amount.
Dr. Reddy’s: Merck receives FDA authorisation for its Covid-19 pill. The Hyderabad-based company is a licensee to manufacture the pill.
Poonawalla Fincorp: International Finance Corporation has ceased to be a stakeholder of the company.
UPL: Admitted its GDRs for trading on the International Order Book, London Stock Exchange’s electronic trading platform.
Surya Roshni: Obtained order amounted to Rs 124.35 crore for supply of API 3LPE coated pipes for LPG pipeline project to IHB Ltd.
Ajanta Pharma: Board of directors to meet on Dec. 28 to consider a proposal for buyback of equity shares of face value of Rs 2 each.
Biocon: Clinical study for Itolizumab in Lupus Nephritis initiated in India, post DCGI approval.
Indian Oil: To invest Rs 9,028 crore for new crude oil pipeline from Mundra.
Ircon International: Incorporated ‘Ircon Akloli-Shirsad Expressway Ltd.’ on Dec. 23 as a special purpose vehicle for the purpose of construction of an eight lane access controlled expressway from Akloli to Shirsad.
Tega Industries: Approves setting up a larger, additional plant in Chile at a cost of Rs 175 crore to cater to growing Latin American demand.
Motherson Sumi Systems: NCLT approves scheme of arrangement and amalgamation between the company, Samvardhana Motherson International Ltd., Motherson Sumi Wiring India Ltd. and their respective shareholders and creditors.
Kajaria Ceramics: NCLT has approved scheme of amalgamation amongst Kajaria Tiles Pvt. Ltd. and Kajaria Ceramics Ltd. and their respective shareholders and creditors. Kajaria Tiles is a wholly-owned subsidiary of the company and as per the scheme, shareholding of the company in Kajaria Tiles will automatically be cancelled and no new shares will be issued consequent upon the said amalgamation under the scheme.
SJVN: Entered MoU with Damodar Valley Corporation for harnessing potential solar energy of about 2000 MW available under the DVC Command Area.
Prestige Group, L&T: Prestige Group signed a civil contract worth Rs 1,560 crore excluding GST with Larsen and Toubro for construction of buildings and infrastructure development at the Prestige City, Bengaluru.
TCS: Gets contract from the oldest private non-life insurer in the Swiss market, La Mobiliere to drive its digital transformation agenda.
Escorts: NCLT approved its scheme of capital reduction. Share capital of the Company shall stand reduced from Rs 134.83 crore divided into 13.48 crore equity shares each to Rs 122.57 crore divided into 12.25 crore equity shares once scheme is effective.
Mphasis: Mphasis Consulting Ltd., UK, a wholly owned subsidiary of the company, and Ardonagh signed a business venture agreement wherein Mphasis acquired 51% in Mrald Ltd., a company incorporated and registered in England and Wales.
Glenmark Pharma: Crisil revises outlook to 'positive' from 'stable'; long term rating of AA- reaffirmed.
CMS Info Systems IPO subscribed 2.06 times on the final day.
Data Patterns (India) to list today. The issue was subscribed 119.62 times.
Pledge Share Details
Kalpataru Power Transmission: Promoter Group Kalpataru Constructions Pvt. Ltd. created a pledge of 10,57,861 shares on Dec. 21. Promoter Group K C Holdings Pvt. Ltd. created a pledge of 3,36,000 shares on Dec. 21. Promoter Group Kalpataru Properties Pvt. Ltd. created a pledge of 2,14,004 shares on Dec. 21.
Ajanta Pharma: Promoter Ravi Agrawal, Trustee Ravi Agrawal Trust created a pledge of 5,85,000 shares on Dec. 22.
Grasim Industries: Promoter Group IGH Holdings Pvt. Ltd. bought 1,65,000 shares between Dec. 20 and Dec. 21.
Tilaknagar Industries: Promoter Group M L Dahanukar And Co. Pvt. Ltd. bought 59,43,396 shares on Dec. 19. Promoter Group Arunoday Investments Pvt. Ltd. bought 59,43,396 shares on Dec. 19.
Nava Bharat Ventures: Promoter Group V9 Avenues Pvt. Ltd. bought 20,000 shares between Dec. 20 and Dec. 21.
Vaibhav Global: Promoter Group Brett Enterprises Pvt. Ltd. bought 5000 shares on Dec. 22.
Shoppers Stop: Promoter and Director Ravi C. Raheja bought 11,852 shares on Dec. 22.
Aditya Birla Capital: Promoter Group Birla Group Holdings Pvt. Ltd. bought 9,00,000 shares between Dec. 20 and Dec. 21.
Gujarat Fluorochemicals: Promoter Group Inox Chemicals LLP sold 1,59,418 shares between Dec. 21 and Dec. 22.
Ansal Housing: Algoquant Financials bought 4.75 lakh shares (0.8%) at Rs 10.28 apiece on Dec. 23.
Who’s Meeting Whom
Orient Electric: To meet Stockproadvisors and PhillipCapital (India) on Dec. 29.
Aavas Financiers: Met InCred Capital on Dec. 23.
Indian Energy Exchange: To meet Nippon India on Dec. 27.
Ami Organics: Met Narotam Sekhsaria Family Office on Dec. 23.
Shriram Transport Finance: Met Valiant Capital Partners on Dec. 23.
Dixon Technologies: Met Morgan Stanley and Prabhudas Lilladher on Dec. 22.
Price Band Changed From 10% To 5%: Morarjee Textiles, Suvidhaa Infoserve
Shortlisted In Long-Term ASM Framework Stage-I: TCI Express, Future Enterprises.
Shortlisted In Short-Term ASM Framework Stage-I: Expleo Solutions, Reliance Communications.
Interim Dividend Record Date: Can Fin Homes.
Money Market Update
The rupee ended at 75.24 against the U.S. Dollar on Thursday as compared to Wednesday’s closing of 75.55.
Nifty December futures ended at 17,059; a discount of 13.6 points.
Nifty December futures added 0.94% and 1,815 shares in Open Interest.
Nifty Bank December futures ended at 35,129.45; a discount of 61.7 points.
Nifty Bank December futures shed 12.34% and 11,562 shares in Open Interest.
Securities in the ban list: Escorts, Indiabulls Housing Finance, Zee Entertainment Enterprises, Vodafone Idea.