Closing bell:- The Nifty is at 21,250, and the Sensex is up 359 points; all sectors are up. Dec 21

Closing bell:- The BSE Midcap and Smallcap indexes are both up 1.5 percent.

Closing bell

Indian market news

Fii and Dii data

Indian market news

1. The Nifty PSU Bank index increased 1.7 percent, led by UCO Bank, the Central Bank of India, and Punjab National Bank:
2. Tarsons Products, Gujarat Themis Biosyn, and Metropolis Healthcare led the BSE Healthcare index up 0.6 percent.
3. Poonawalla Fincorp: According to Bloomberg, around 1.36 million shares of the business changed hands in a series of block deals.
4. Credo Brands Marketing (Mufti) IPO was subscribed to 24 times, with the retail part being booked 16 times on the closing day.
5. On the closing day, the RBZ Jewellers IPO was subscribed to 13 times, with the retail part being booked 21 times.
6. Happy Forgings IPO was subscribed to 20 times, with the retail component booked 12 times on the closing day.
7. Following the introduction of the Bhiwandi mega gateway with 196 docking stations, Delhivery has increased by 6%.
8. Happy Forgings’ IPO was subscribed to 47 times, with the retail part booked 13 times on the closing day.
9. IndusInd Bank sells Rs 795 crore in Nippon Life India shares.
10. Bajaj Finance raised Rs 25.77 crore by selling 3.2 lakh shares in Landmark Cars at Rs 805.58 per share.
11. HDFC Mutual Fund has purchased 6 lakh shares of Symphony.
12. Sunil Singhania’s Rs 326 crore equity acquisition propels Shriram Pistons to the upper circuit.
13. Suzlon Energy receives a repeat order from KP Group in Gujarat for 193.2 MW.
14. INOX India goes public for Rs 949, a 43% premium over the IPO price.
15. Flair Writing Industries’ Q2 profit increased 3.2% year on year, but EBITDA margin fell.
16. Tamil Nadu State Transport Corporation awards Ashok Leyland a Rs 501 crore deal.
17. Ami Organics Large Trade | CNBC-TV18 reported that 46 lakh shares (12.5 percent equity) worth Rs 475.2 crore changed hands at Rs 1,031 per share.
18. Mazagon Dockyard Shipbuilders has signed a contract of Rs 1,600 crore with the Ministry of Defence.
19. Cochin Shipyard signs a contract with the Ministry of Defence worth Rs 488.25 crore.
20. Nippon India MF and Goldman Sachs select 16.01 lakh Indian shares On the day of the listing, shelter
21. UltraTech Cement would pay Rs 20 crore for a 26% interest in Clean Max Terra.
22. Anchor investors purchase shares worth Rs 171 crore in the Innova Captab IPO.
23. A Mumbai-based business couple will invest Rs 1,100 crore in Spicejet, joining 62 other investors.

Market Movers

News updates

While the official estimate is 6.5%, the RBI Model predicts 6.0% GDP growth for India in FY25.

India’s GDP growth for the upcoming year is predicted by a statistical model created by the Reserve Bank of India (RBI) to be 6.0 percent, which is 50 basis points less than the official projection of 6.5 percent provided by the central bank in its Monetary Policy Report from October.

The RBI has developed a dynamic stochastic general equilibrium (DSGE) model as part of the suite of models for guiding monetary policy formulation, according to the central bank’s monthly State of the Economy article, which was published on December 20.

Following the SAT judgement, SEBI, NSDL, and NSE would be required to compensate Karvy lenders with around Rs 1,400 crore.

In response to a ruling by the Securities Appellate Tribunal on December 20, the Securities and Exchange Board of India (Sebi), the National Stock Exchange (NSE), and the National Securities Depository Limited (NSDL) could be held financially liable for more than Rs 1,400 crore.

The order states that they must either reimburse the brokerage’s lenders for the value of the underlying equities plus a ten percent annual interest rate, or return the shares that Karvy Stock Broking pledged.

Lenders including Axis Bank, ICICI Bank, Bajaj Finance, HDFC Bank, and IndusInd Bank came before the tribunal in response to a request from the market regulator for the depository to return assets promised by Karvy to shareholders.

Must read book about investing – check here 

Read more

Closing bell Closing bell Closing bell Closing bell Closing bell Closing bell Closing bell Closing bell

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.