All You Need To Know Going Into Trade On December 29

Asian stocks were mixed Wednesday after a megacap technology selloff weighed on U.S. equities.

Japanese shares fluctuated, Australia climbed after a holiday break and South Korea declined.

U.S. futures rose, suggesting the S&P 500 and the Nasdaq 100 might make up some ground after a dip Tuesday that snapped four sessions of gains. Volumes remained thin into the end of the year in some markets.

The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index's performance, fell 0.2% to 17,227.50, as of 7:10 a.m

Treasuries and the dollar were little changed. Crude oil held an advance to the highest in more than a month. Bitcoin fell below $48,000. [read more here]

Stocks To Watch

• Torrent Pharma: To launch Molnupiravir under the brand name Molnutor after getting DCGI approval.

• Cipla: To launch Molnupiravir under the brand name Cipmolnu to treat mild to moderate covid-19 after receiving DCGI approval.

• Gland Pharma: To meet on Jan. 21 to consider Q3 results.

• Strides Pharma: To launch Molnupiravir under the brand name Stripiravir after getting DCGI approval.

• Shriram Transport Finance: Company will consider raising of funds by way of issue of redeemable non-convertible debt securities including bonds in onshore/offshore market on private placement basis during January.

• Dr. Reddy’s: To launch Molnupiravir capsules under the brand name Molflu after getting DCGI approval. To also meet on Jan. 28 to consider Q3 results.

• Adani Enterprises: Incorporated wholly-owned subsidiaries named Budaun Hardoi Road Pvt. Ltd. and Unnao Prayagraj Road Pvt. Ltd. to carry out various projects.

• Mishtann Foods: Signed a MoU with the Government of Gujarat for the proposed project of manufacturing grain based ethanol.

• GR Infraprojects: Emerged as L-1 bidder in financial bid for a tender invited by Noida Metro Rail Corporation. Total project cost is Rs 593 crore.

• Mahindra & Mahindra: Mahindra Engineering and Chemical Products Ltd., a wholly owned subsidiary, has agreed to sell its entire stake aggregating 49% in Mahindra Tsubaki Conveyor Systems Pvt. Ltd. M&M has also subscribed to 1,60,74,000 shares of ReNew Sunlight Energy Pvt. Ltd. constituting 31.2% of the company. RSEPL has become an associate of M&M.

• Natco Pharma: To launch Molnupiravir under the brand name Molnunat after getting DCGI approval.

• Raymond: Incorporates new unit ‘Ten X Realty’ for its real estate business. To invest up to Rs 150 crore in it.

• Equitas Small Finance Bank: Approved proposal to reappoint Vasudevan PN as CEO till July 22, 2025.

• Aurobindo Pharma: To launch Molnupiravir under the brand name Molnaflu after getting DCGI approval.

• Vakrangee: Tied up with Nayara Energy Ltd. for setting up Vakrangee Kendra outlets at its Nayara retail fuel outlets.

• Blue Dart: India Ratings assigned long-term issuer rating ‘AA’ and rated outlook as ‘stable’.

• Mazagon Dock Shipbuilders: Approved interim dividend of Rs 7.1 per equity share. Declared Jan. 7, 2021 as the record date for reckoning eligibility.

• J&K Bank: Names Baldev Prakash as CEO and Managing Director for a period of three years. Has also appointed Balvir Singh Gandhi as Chief Financial Officer.

• Indo Amines: Sets Jan. 15 as record date for 2-for-1 stock split. Shares of face value of Rs 10 which will be subdivided into two of Rs 5 each.

• Persistent Systems: Former Tata Starbucks and Godrej Nature’s Basket CEO Avani Davda appointed Additional Director. Davda is currently a strategic advisor at Bain Advisory Network.

• Vedanta: Vedanta Resources’ Zambia copper unit, which is under provisional liquidation since May 2019, has been run down and is on the verge of collapse, CEO Sunil Duggal said. The unit known as Konkola Copper Mines requires $1.5 billion to make it a world-class asset, he said.

• Amara Raja Batteries: To invest in InoBat Auto AS, Oslo Norway, which is into research and development in the field of batteries for electric vehicles. Amara Raja also has right to participate and subscribe up to €10 million in InoBat Auto’s further fund raising and subsequent listing at stock exchange. InoBat Auto is in a pre-revenue stage and is intending to raise funds for setting up pilot plant and has further plans to set up giga factories.

Pledge Share Details

• Chambal Fertilisers & Chemicals: Promoter Zuari Global Ltd. created a pledge of 7,00,000 shares on Dec. 24.

• Jindal Steel & Power: Promoter group Opelina Sustainable Services Ltd. created a pledge of 14,30,000 shares on Dec. 22.

• Wockhardt: Promoter group Themisto Trustee Company Private Ltd. created a pledge of 19,00,000 shares on Dec. 23.

Bulk Deals

• Bombay Dyeing & Manufacturing Co.: QE Securities bought 10,30,739 (0.49%) shares at the price of Rs 115.68 per share and sold 10,65,925 (0.51%) shares at Rs 115.99 apiece.

• Elecon Engineering Company: HDFC Mutual Fund-HDFC Multi-Cap Fund bought 20,20,682 (1.80%) shares at Rs 176.8 apiece and sold 18,57,100 (1.65%) shares at Rs 176.8 apiece.

• Jaiprakash Power Ventures: Share India Securities Ltd. bought 5,36,57,333 (0.78%) shares at Rs 6.36 apiece and sold 5,63,76,031 (0.82%) shares at Rs 6.37 apiece. Adroit Financial Services Pvt. Ltd. bought 4,59,15,782 (0.66%) shares at Rs 6.37 apiece and sold 4,41,38,128 (0.64%) shares at Rs 6.37 apiece.

• Supriya Lifescience: Dipan Mehta Commodities Pvt. Ltd. bought 4,06,777 (0.50%) shares at Rs 398.95 apiece and sold 4,57,437 (0.56%) shares at Rs 398.37 apiece.

Insider Trades

• Chambal Fertilisers & Chemicals: Promoter group Texmaco Rail & Engineering Ltd. sold 1,50,000 shares and Promoter Group Adventz Finance Pvt. Ltd. bought 1,50,000 shares on Dec. 24.

• Apcotex Industries: Promoter group Mazda Colours Ltd. sold 28,000 shares on Dec. 24. Promoter group Amit C Choksey HUF sold 1,02,850 shares and Promoter group Namrata Nihal Doshi bought 1,02,850 shares on Dec. 27.

• Gati: Promoter group TCI Finance Ltd. sold 15,000 shares on Aug. 18. Promoter group Bunny Investments and Finance Ltd. sold 50,000 shares between Dec. 23 and Dec. 27.

• Moschip Technologies: Promoter and Director K. Ramachandra Reddy sold 3,00,000 shares Dec. 27.

• Sastasundar Ventures: Promoter group Ravi Kant Sharma jointly with Luv Kush Projects Ltd. as Trustee of Microsec Vision Trust One sold 2,25,000 on Dec. 27.

• Lux Industries: Promoter group Navin Kumar Todi sold 1,35,000 shares on Dec. 27.

• Gujarat Fluorochemicals: Promoter group Inox Chemicals sold 65,719 shares on Dec. 27.

Block Deals

• Dynamatic Technologies: JKM Holdings Pvt. Ltd. bought 2,00,000 (3.15%) shares at Rs 2,087 apiece. Wavell Investment Pvt. Ltd. sold 2,00,000 (3.15%) shares at Rs 2,087 apiece.

Who’s Meeting Whom

• IIFL Finance: To meet ICICI Securities on Dec. 31.

• Kirloskar Oil Engines: Met Ventura Securities on Dec. 28.

• Care Ratings: To meet Motilal Oswal on Dec. 29.

• JM Financial: Met Fiera Capital on Dec. 28.

Trading Tweaks

• Price Band Changed From 10% To 5%: MTNL

• Price Band Changed From 20% To 10%: Kabra Extrusion Technik

• Shortlisted In Long-Term ASM Framework Stage-I: Digjam

• Shortlisted In Short-Term ASM Framework Stage-I: Kingfa Science & Technology (India), Kabra Extrusion Technik, Gravita India, Minda Industries

Money Market Update

The rupee ended at 74.66 against the U.S. Dollar on Tuesday as compared to Monday’s closing of 74.99.

Analyst Actions

• CAMS: Haitong International initiates coverage with ‘outperform’, price target set at Rs 3,100.
  

F&O Cues

• Nifty December futures ended at 17,257; a premium of 23.75 points.

• Nifty December futures shed 16.4% and 27,703 shares in Open Interest.

• Nifty Bank December futures ended at 35,213.95; a premium of 30.15 points.

• Nifty Bank December futures shed 20.61% and 16,366 shares in Open Interest.

• Securities in the ban list: Indiabulls Housing Finance, Vodafone Idea, RBL Bank

• Securities removed from the ban list: Escorts