Closing Bell : Sensex and Nifty close lower due to volatility; power stocks surge. Dec-07

Closing Bell

The BSE midcap index increased by 0.7 percent, while the Smallcap index increased by 0.4 percent.

 Indian Market 

FII AND DII 

Stock Market News

1. 1.  Nifty Metal index down 0.6 percent, led by Welspun Corp, Ratnamani Metal, and Hindalco Industries; 
   2. BSE FMCG index fell 0.6 percent, led by Uttam Sugar, Dalmia Sugar, and Ugar Sugar.
   3. As investors gamble on a BOJ change, the euro falls and the yen rises.
   4. PSP Projects is awarded a work order worth Rs 101.67 crore.
   5. Tata Power is the sixth Tata Group firm to reach Rs1 lakh crore in market capitalization.
   6. The REC intends to issue bonds of up to Rs 6,000 crore.
   7. Around 2.75 million RIL shares were traded.
   8. Tata Power is the sixth Tata Group firm to reach Rs1 lakh crore in market capitalization.
   9. Morgan Stanley invests Rs 32.87 crore in Kesoram Industries.
   10. 2I Capital PCC sells Rs 151 crore in Swan Energy shares.
   11. Societe Generale has acquired a 1% stake in JTL Industries.
   12. Ircon shares fall 8% as the government’s OFS offering begins; the stock is risen 166% year to date.
   13. Alok Industries enters into facility agreements with SBI for a Rs 1,750 crore term loan to repay current liabilities.
   14. Bharti Airtel Large Trade | According to CNBC-TV18, 1.8 lakh shares (0.8 percent equity) worth Rs 1,856 crore change hands via block.
   15. Bharat Electronics has received a Rs 580 crore order from the Indian Army for radar AMC.
   16. COYA 302 is being developed by a subsidiary of Dr Reddy’s Labs in collaboration with Coya Therapeutics.
   17. The government intends to sell an 8% stake in IRCON through an offer-for-sale on December 7-8, with a floor price of Rs 154 per share.
   18. HCC sells a land tract near Mumbai for Rs 95 crore.
   19. Doms Industries has established a price band of Rs 750-790 for its initial public offering (IPO), which will take place on December 13th.
   20. Bharat Electronics bags Indian Army orders worth Rs 580 crore

   21. CNBC-TV18 reported that IDFC First Bank Large Trade | 13.5 core shares (2 percent equity) worth Rs 1,162.7 crore change hands at an average price of Rs 86 per share.

 INDIAN MARKET MOVERS 

News Updates

RBI unlikely to lower rates before June: Deutsche Bank

The Reserve Bank-led Monetary Policy Committee (MPC) is unlikely to modify repo rates till June next year, according to a foreign brokerage report.The bi-monthly MPC meeting commenced on December 6 and the decision on rates will be published on December 9.According to the study by Deutsche Bank, the interest rate cycle appears to have peaked and the Reserve Bank of India (RBI) is unlikely to opt for future hikes, unless absolutely essential. The rate is likely to be decreased in June, it said.The RBI hiked the repo rate last on February 23, when it was raised to 6.5 percent.

BSE, NSE GIFT City units to be combined by Jan 2024; direct listing by April

The two functioning international exchanges at GIFT City — BSE’s India INX and NSE’s International Exchange — would be amalgamated by January end, said IFSCA chairperson K Rajaraman on December 6.”The process is in the advanced stage and the merger should be completed in a month,” he said while addressing to the media on the sidelines of the event.The move is expected to produce increased volumes in Gifty City exchanges.

Shree Cement aims to bid in lithium auction

Shree Cement aims to bid for lithium mining rights under a government strategy to secure vital minerals output through auctions that are estimated to raise more than $5 billion.A source with direct knowledge of the situation told Reuters the company would seek for the rights to lithium mining blocks in Jammu and Kashmir, the federally administered territory where an estimated 5.9 million tonnes of reserves were found in February. Shree Cement, India’s second biggest cement business by market capitalisation, will also bid for blocks in the eastern state of Chhattisgarh, said the source, who asked not to be identified because to the commercial sensitivities

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Read more Checkingell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell latest news  fClosing Bell tyClosing Bell above 19,700, Sensex up 385 points; gains in capital goods, real estate, and banks

Force Motors announces August production of 3,032 automobiles. 

Power Mech Projects climbs more than 2% after receiving a Rs 625 crore order.

Hitachi Energy India rises nearly 4% after receiving an order.

Quant Mutual Fund invests Rs 86 crore in JM Financial, while Valiant Mauritius Partners sells 0.8% of its holding.

Baring Private Equity sells Rs 34.7 crore in PG Electroplast shares.

Small Cap World Fund and New World Fund sell Rs 884.43 crore in Shriram Finance shares.

Nazara Technologies will offer 57.42 lakh preferential shares to SBI Funds at Rs 714 per share.

Cochin Shipyard Large Trade | According to CNBC-TV18, 8.6 lakh shares (0.7 percent e

Data from China | Exports were down 8.8% in August, while imports were down 7.3% year on year.

Indian Railways awards Responsive Industries a contract for the Garib Rath Initiative.

CNBC-TV18 reported that Bikaji Foods International Large Trade | 14.1 lakh shares (0.6 percent equity) worth Rs 71.3 crore change hands at Rs 507 per share.

PVR INOX stock rises as SRK’s ‘Jawan’ hits theaters, and the industry anticipates a blockbuster opening.

L&T rises on rumours of a possible order from Saudi Aramco for a gas project.

Varroc Engineering to acquire a 26% share in AMP Energy SPVs TCS forms strategic cooperation with JLR’s digital unit

Tata Motors August Auto Sales | JLR UK sales are down 23.6% year on year at 1,479 units versus 1,935 units.

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