All You Need To Know Going Into Trade On December 6
Asian stocks fell as investors weighed uncertainties about the omicron variant and looked to U.S. inflation data amid the Federal Reserve’s hawkish tilt. Treasuries pared some of Friday’s rally.
Equity benchmarks dropped in Japan, South Korea and Australia. S&P 500 futures rose, while Nasdaq 100 contracts slipped. U.S. stocks extended a weekly slide Friday after a mixed U.S. jobs report fanned volatility.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index's performance, was little changed at 17,245, as of 7:00 a.m.
Treasury yields rose, trimming Friday’s plunge that sent the 10-year yield closer to 1.30%. The dollar was steady.
Cryptocurrencies got swept up in the risk-off wave, with Bitcoin plunging on Saturday and currently sitting below $50,000. Elsewhere, gold held an advance and oil rose after Saudi Arabia boosted the prices of its crude.
Events To Watch
Russia, India defense and foreign ministers to meet Monday
Rosneft CEO Sechin to join Putin on India visit
RBI Monetary Policy Committee meeting starts Dec. 6; decision to be announced Dec. 8
Stocks To Watch
Eris Lifesciences: The company has formed a joint venture with MJ Biopharm to enter the insulin segment. The 70:30 JV (with Eris holding a 70% stake) will primarily engage in the marketing and distribution of human and analogue insulins (Glargine, Aspart, Lispro) and GLP-1 agonists (Liraglutide) among other biopharma products in India.
Tech Mahindra: The company has acquired Activus Connect for $62 million. The acquisition will bolster Tech Mahindra’s capabilities in emerging workplace solutions and strengthen end-to-end CX portfolio.
Lupin: The company has entered into a distribution and marketing agreement with Biomm SA in Brazil. Under the agreement, Biomm will distribute and market biosimilar Pegfilgrastim in Brazil.
Lloyds Metals and Energy: The mining lease granted to the company for iron ore mines over an area of 348.09 Ha. in Surjagad (Wooria Hill) in Gadchiroli district has been extended for a further period of 30 years and is now valid up till May 2, 2057.
Carborundum Universal: CUMI International, Cyprus, a wholly-owned subsidiary of the company, has entered into an agreement to acquire an existing company in Germany which will become a step-down subsidiary of CUMI. This acquisition will facilitate a base in European Union facilitating CUMI Group accessing markets in EU for its portfolio viz., abrasives, ceramics and electrominerals.
Tatva Chintan Pharma Chem: Appointed Ashok Bothra as Chief Financial Officer and Key Managerial Personnel of the company.
NMDC: Declared interim dividend of Rs 9.01 per share for the financial year 2021- 22. It has fixed December 15 as the record date for the payment of dividend.
Force Motors: The company’s total production in November stood at 1,135 units. It reported domestic sales of 772 units and exported 362 units.
TeamLease Services: The company has sold its entire shareholding in subsidiary IIJT Education.
JK Cement: Approved the scheme of amalgamation of Jaykaycem (Central) with the company with effect from appointed date of April 1, 2021.
Dr Lal PathLabs: Approved the reappointment of Arvind Lal as executive chairman and whole-time director of the company, for a period of five years commencing from April 1, 2022.
Coal India: Aims to move 555 million tonnes Coal per year via mechanised means; India has 14 rail projects at Rs 22,070 crore cost for Coal Transport
Dish TV India: To convene shareholders’ meeting on Dec. 30
Oberoi Realty: To consider part-redemption of NCDs
Pledge Share Details
Confidence Petroleum India: Promoters (Essenn LPG Bottling and Confidence LPG Bottling) created a pledge of 60 lakh shares between November 30-December 1.
Chambal Fertilisers & Chemicals: Promoter Zuari Global created a pledge of 3 lakh shares on December 2.
Cholamandalam Investment and Finance Company: Promoter Lakshmi Ramaswamy Family Trust created a pledge of 1.25 lakh shares on November 29.
Carborundum Universal: Promoter AA Alagammai trustee created a pledge of 1 lakh shares on November 29.
Max Financial Services: Promoter Max Ventures Investment Holdings created a pledge of 1.70 lakh shares on December 1.
Mahindra & Mahindra: Promoter Prudential Management and Services revoked pledge of 12,000 shares on December 2.
As reported on December 3.
Aarti Surfactants: Promoter Jaya Gogri sold 70,000 shares (0.92%) at Rs 1,050.87 per share.
Krishna Institute of Medical Sciences: Malabar Select Fund sold 4.01 lakh shares (0.50%) at Rs 1,319.04 per share.
Kirloskar Oil Engines: Nalanda India Equity Fund sold 20.21 lakh shares (1.40%) at Rs 184.88 per share.
Karda Constructions: Eriska Investment Fund bought 31 lakh shares (0.50%) at Rs 17 per share.
National Highway Infra Trust: Trust Capital Services India bought 64 lakh units at Rs 101.61 per share. ICICI Bank sold 84 lakh shares at Rs 101.61 per share.
Bajaj Auto: Promoter Maharashtra Scooters bought 21,625 shares on December 2.
DB Realty: Promoter Vinod Goenka HUF bought 25,000 shares on December 2.
Gujarat Fluorochemicals: Promoter Inox Chemicals LLP sold 2.93 lakh between December 1-2.
Meghmani Finechem: Promoters (Dhiren Goyal and Ashishbhai Soparkar) bought 24,500 shares between November 27-December 2.
Shoppers Stop: Promoter Neel Raheja bought 16,313 shares on December 1.
Star Cement: Promoter Sarika Jalan sold 18,826 shares between November 29-December 1.
Karda Constructions: Promoter Naresh Karda sold 30 lakh shares on December 2.
Who’s Meeting Whom
Tata Consumer Products: To meet Artisan Partners on December 6.
Crompton Greaves Consumer Electricals: To meet HDFC Life Insurance and Goldman Sachs on December 6.
UltraTech Cement: To meet Wellington Management Singapore PTE and Kotak Mutual Fund on December 6.
Hindalco Industries: To meet GIC, Drummond Knight Asset Management Pty, Dymon Asia Capital (Singapore) Pte, Eastspring Investments (Singapore), Millennium Capital Management, Millennium Partners LP TX Capital (HK) and Abu Dhabi Investment Authority on December 6.
Shoppers Stop: To meet DSP Black Rock Mutual Fund on December 6.
Can Fin Homes: To meet Ocean Dial Asset Management on December 6 and Principal Mutual Fund on December 7.
Tips Industries: To meet analysts and investors on December 6.
India Pesticides: To meet AUM Fund Advisors on December 6, and Kotak Mahindra AM and ENAM Holdings on December 7.
UTI Asset Management Company: To meet Manulife Investment Management on December 7.
Ex-Date Interim Dividend: Coal India
Record Date Bonus Issue: Indian Energy Exchange
Move Out Of Short-Term ASM Framework: Mahindra Lifespace Developers, Max Healthcare Institute, Nagarjuna Fertilizers and Chemicals
Move Into Short-Term ASM Framework: Nagarjuna Fertilizers and Chemicals
Move Out Of Short-Term ASM Framework: Shoppers Stop
Money Market Update
The rupee ended at 75.17 against the U.S. Dollar on Friday as compared to Thursday's closing of 74.99.
Bharti Airtel cut to Reduce at Spark Capital Advisors
Tata Power cut to Sell at BOB Capital Markets; price target Rs 181
Posts fourth straight quarter of strong volume performancce in Q4FY22.
Equirus Securities raises the company's stock to 'add' from 'reduce', and hikes target price to Rs 2,280 from Rs 2,040, an implied upside of 5%.
The brokerage firm expects the company to deliver EBITDA margin of 12.5%/12.9% in FY23E/FY24E despite the impact due to commodity inflation and tight supply chain scenario.
Motilal Oswal maintains 'neutral' with the price target kept unchanged at Rs 2,065; an implied return of -6%. Motilal Oswal cited Siemens' resilient performance in building segment and robust order inflows as key growth drivers.
Nifty December futures ended at 17,252.30; a premium of 55.6 points.
Nifty December futures shed 4.21% and 9,912 shares in Open Interest.
Nifty Bank December futures ended at 36,353.95; a premium of 156.80 points.
Nifty Bank December futures added 4.87% and 4,625 shares in Open Interest.
Securities in the ban list: Indiabulls Housing Finance, Vodafone Idea