Closing bell:- Top gainers on the Nifty were Coal India, NTPC, M&M, Dr Reddy’s Laband Hero MotoCorp, while losers included Adani Enterprises, Eicher Motors, LTIMindtree, L&T and Adani Ports.
Closing bell
Indian market news
Fii and Dii data
| Fii Sold | 2,926.05Â Cr |
| Dii Bought | Â 192.01 Cr |
Indian market news
- Emami, Nestle, and United Breweries boosted the Nifty FMCG index by 1%:
- For the first time, cash market turnover exceeds Rs 1 lakh crore; F&O turnover surpasses a new high.
- Bulls propel the Nifty to 21,700 and the Sensex to a new high; the rally is expected to continue because to the US Fed’s turn and banking gains.
- The market capitalisation of HDFC Bank has surpassed Rs 13 lakh crore:
- Coal India rises 4% after Motilal raises its target price.
- Exide Industries invests Rs 40 crore in Exide Energy Solutions, a subsidiary.
- The India VIX is up nearly 3% after reaching a 9-month high the previous session:
- Azad Engineering goes public at Rs 720, a 37% premium to the IPO price:
- KEC International’s shares rises after receiving a new order for Rs 1,566 crore.
- Oil India defaults on a Rs 551 crore payment to Numaligarh Refinery for rights issuance.
- Hinduja Renewables has been awarded a 140-MW solar project.
- Exide Industries invests Rs 40 crore in Exide Energy Solutions, a subsidiary.
- Adani Green completes its joint venture with TotalEnergies and raises $300 million.
- BofA Securities Europe acquires 0.7% of Droneacharya Aerial Innovations.
- Swan Energy is sold by Hypnos Fund for a 1.2% share.
- Tata Power gets a 100 percent ownership stake in the special-purpose vehicle Bikaner III Neemrana II Transmission.
- Zydus Wellness Large Trade | 7.80 lakh shares worth Rs 127.3 crore change hands in a block deal window at Rs 1,632 per share, according to CNBC-TV18.
Indian Market Stocks
| Sensex | 371.95 | +0.52% | 72,410.38 |
| Nifty 50 | 123.95 | +0.57% | 21,778.70 |
| Bank Nifty | 226.35 | +0.47% | 48,508.55 |
Market Movers
| Coal India | 15.35 4.20% | Adani Enterpris | -36.50 -1.28% |
| M&M | 46.50 2.75% | Adani Ports | -7.55 -0.74% |
| Hero Motocorp | 108.95 2.68% | Larsen | -21.70 -0.61% |
| NTPC | 7.85 2.56% | Eicher Motors | -20.95 -0.51% |
| Dr Reddys Labs | 144.05 2.52% | Infosys | -5.85 -0.37% |
News updates
India to be world’s third-biggest economy by 2032, greatest by end of the century: CEBR
India is poised to become the world’s third-biggest economy by 2032 and will eventually surpass China and the United States to become the “world’s largest economic superpower” by the end of this century, as per a projection released by the Centre for Economics and Business Research (CEBR) on December 27.
India would sustain “robust economic growth”, averaging 6.5 percent from 2024 to 2028, CEBR claimed in its ‘World Economic League Table 2024’ study. This will result in the country surpassing Germany to become the fourth-largest economy in 2027 and overcoming Japan to become the third-largest economy by 2032, it added.
SEBI extends Dec 31 deadline for mutual fund and demat account nomination
With barely a few days remaining for the December 31 deadline for mutual fund (MF) and stock market investors to complete nomination for their investments, the securities market regulator SEBI has again extended this deadline.
As per a circular released on December 27, the regulator has extended the last deadline to June 30, 2024. By this date, investors must either designate a nominee/s or explicitly opt out of nomination by making a declaration.
CCI clears IndusInd Bank-Reliance Capital merger
The Competition Commission of India (CCI) has approved the planned acquisition of a controlling stake in Reliance Capital by IndusInd International Holdings Ltd, IIHL BFSI (India) Ltd, and Aasia Enterprises. Reliance Capital is an RBI-registered non-banking, non-deposit-taking systemically important business. The deal will allow IndusInd Bank and other businesses to have a controlling share in Reliance Capital. In July, Hinduja group-owned IndusInd International Holdings launched a $1.5-billion capital-raising plan to fund the acquisition and increase its ownership in the lender. The board of Mauritius-registered IIHL also agreed to expand its holding in Reliance Capital to 26%. In June, lenders of Reliance Capital accepted a revised bid of Rs 9,661 crore. In November 2021, the Reserve Bank of India replaced the board of Reliance Capital due to payment defaults and governance concerns. Deals exceeding a specific threshold require clearance from the regulator to ensure fair competition and prevent unfair business practices.
Vedanta makes interest payment on NCDs as company navigates through debt concerns
Mining conglomerate Vedanta Limited made the interest payment for secured redeemable non-convertible debentures (NCD) due on December 27, as the company navigates through debt repayment problems.
The NCDs had a face value of Rs 1,00,000, aggregating upto Rs 2,500 crore, the business said in an exchange filing. The Anil Agarwal-owned company which is struggling under a debt mountain, managed to reduce its net debt by Rs 1,420 crore sequentially to Rs 57,771 crore as of the end of the September quarter.
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TCS buyback acceptance percentage at 35%, better than prior time
Tata Consultancy Services (TCS) has decided the acceptance percentage of its buyback issue at roughly 35 percent, some investors who tendered their shares claimed.
The acceptance ratio refers to several shares accepted to be bought by the corporation against the number of tendered shares. The ratio was 24 percent during the 2022 buyback.
For small shareholders, the ratio of repurchase (i.e. eligible number of shares to be tendered for the number of shares owned) was fixed at one share for every six shares held as of the record date. For other stockholders, it was two shares for every 209 shares held by them.
The company planned to buyback 4.09 crore shares at Rs 4,150 apiece and received bids for 26 crore shares.
SpiceJet board meet to examine fundraising and Q2FY24 results adjourned till Dec 12
SpiceJet, once India’s second-largest carrier by market share, said that it has pushed out the board meeting to examine fundraising and Q2FY24 results to December 12. The airline was set to declare its Q2FY24 results on December 11.
Sterling & Wilson Renewable Energy publishes QIP; floor price at Rs 365.02 per share
Sterling and Wilson Renewable Energy Limited on December 11 announced the opening of a qualified institutional placement (QIP) issuance.
The Securities Issuance Committee agreed a floor price for the offer at Rs 365.02 per share following the computation stipulated by the Securities and Exchange Board of India, the business said.
Additionally, the worldwide pure-play, end-to-end renewable engineering, procurement and construction (EPC) solutions provider may consider granting a reduction of up to 5 percent on the floor price. A meeting is scheduled to establish the issuance price of the equity shares, it stated.