U.S. stocks went through a volatile session as traders weighed whether the Federal Reserve will hike rates even as inflation rise was slower than expected. The S&P 500 rose 0.3%, while the tech heavy the Nasdaq 100 was up 0.4%. Meanwhile, the yield on 10-year Treasuries dropped 12 basis points to 3.50%.
Crude rose 3.6% amid moderation in U.S. inflation and demand returning with China reopening. Gold futures rose 1.4%, while Bitcoin surged 3.1% to trade around $17,700-level.
Domestic benchmark gauges shed losses to end in green after two days of fall, with market breadth in favour of bulls.
Rupee continued to depreciate against the U.S. dollar in the face of forex outflows and anticipation around the Fed policy announcement.
Stocks To Watch
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One97 Communications: The company will buy back 1.05 crore shares for Rs 850 crore at Rs 810 apiece.
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HDFC/HDFC Bank: The NBFC received in-principle approval from BSE and National Stock Exchange for transfer of non-convertible debentures to HDFC Bank under the merger deal between the two lenders.
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Yes Bank: The board approved allotment of 361.61 crore equity shares and 255.97 crore warrants to Carlyle Group’s CA Basque Investments and Advent-controlled Verventa Holdings.
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Bank of Baroda: The bank will divest its 98.57% shareholding in Nainital Bank.
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UltraTech Cement: The company commissioned 1.9 MTPA greenfield clinker backed grinding capacity at Pali Cement Works, Rajasthan.
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Adani Transmission: The company incorporated a wholly owned subsidiary Adani Cooling Solutions to carry on district cooling system business.
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Reliance Industries: Heads Up Ventures has entered into a contract with Reliance Retail for sale of its products on the latter’s e-commerce platform.
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TVS Motor Company: The company is planning to launch five Euro-5 compliant two-wheelers in Turkey.
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Patel Engineering: The board of the company will meet on Dec. 16 to consider raising funds through rights issue.
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Piramal Enterprises: The company’s subsidiary Piramal Capital & Housing Finance acquired 100% stake in step down subsidiary PRL Agastya.
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Bayer CropScience: The operations at the company’s crop protection formulations plant in Himmatnagar, Gujarat have been discontinued on directions from Gujarat Pollution Control Board.
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IFB Industries: The board approved infusion of Rs 97 crore in promoter group company IFB Refrigeration.
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Axis Bank: The board has approved raising Rs 12,000 crore via allotment of non-convertible bonds at a coupon rate of 7.88% on a private placement basis.
Offerings
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Sula Vineyards: The IPO was subscribed 0.59 times or 59% on its second day. Non-institutional investors subscribed 45% of their respective portion, while the retail basket was subscribed 99%. No bids were placed for the QIB portion.
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Abans Holdings: The IPO was subscribed 28% subscription on the second day. The QIB portion was fully subscribed with bids placed for 1.01 times the reserved basket. The HNIs subscribed 13% of their portion, while the retail portion was subscribed 23%.
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Landmark Cars: The initial share sale saw 17% subscription on the first day. The non-instituitional investors placed bids for 39% of the portion reserved for them, while the retail portion was subscribed 17%. The employees portion was subscribed 1.2 times, and no bids were placed in the QIB basket.
Bulk Deals
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IIFL Wealth Management: Capital Income Builder bought 30.43 lakh shares (3.42%) at Rs 1,810 apiece, General Atlantic Singapore Fund sold 31.16 lakh shares (3.51%) at Rs 1,810.09 apiece.
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Wheels India: Sundaram Finance Holdings bought 1.39 lakh shares (0.58%), ABI Showatech (India) sold 1.39 lakh shares (0.58%) at Rs 595.25 apiece.
Who’s Meeting Whom
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Aether Industries: To meet investors and analysts on Dec. 19.
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Can Fin Homes: To meet investors and analysts on Dec. 14.
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Steelman Telecom: To meet investors and analysts on Dec. 15.
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Max India: To meet investors and analysts on Dec. 14.
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Wonderla Holidays: To meet investors and analysts on Dec. 14.
Trading Tweaks
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Ex-Date Annual General Meeting: Dredging Corporation of India, IFCI
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Record-Date Buy Back: Cosmo First
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Move Out Of Short-Term ASM Framework: Salasar Technologies
Insider Trades
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GHCL: Promoter Neelabh Dalmia bought 1,000 shares between Dec. 8 and Dec. 9.
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Maharashtra Scooters: Promoter Group Bachhraj Factories sold 3,614 shares between Dec. 8 and Dec. 9.
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GRP: Promoter Jayvanti M. Desai sold 135 shares on Dec. 12.
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Vaibhav Global: Promoter Group Brett Enterprises bought 4,000 shares on Dec. 12.
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PSP Projects: Promoter Shilpaben P Patel sold 12 lakh shares on Dec. 12.
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Star Cement: Promoter Group Sarika Jalan sold 10,000 shares on Dec. 8.
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Ethos: Promoter Group Dream Digital Technology bought 55,000 shares & sold 62,885 shares on Dec. 9, and Promoter Yashovardhan Saboo sold 55,000 shares on Dec. 12.
F&O Cues
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Nifty December futures ended at 18,711.50, a premium of 106.30 points.
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Nifty December futures fell 1.29% and 2,754 shares in Open Interest.
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Nifty Bank December futures ended at 44,087, a premium of 210.90 points.
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Nifty Bank December futures rose 6.38% and 7,188 shares in Open Interest.
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Securities added to the ban period: Bharat Heavy Electricals, Delta Corp., Gujarat Narmada Valley Fertilizers And Chemicals
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Securities removed from the ban period: Punjab National Bank
Research Reports
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