Sensex
Adani Ports, L&T, TCS, SBI Life Insurance, and LTIMindtree were the top gainers on the Nifty, while losers included Nestle India, Britannia Industries, UPL, JSW Steel, and Kotak Mahindra Bank.
Closing bell
Indian market news
Fii and Dii data
| Fii Bought | 1,513.41 Cr |
| Dii Sold | 1,387.36 Cr |
Indian market news
- BSE Smallcap index up 0.6 percent led by Mirza International, Alok Industries, Sula Vineyards:
- BSE Capital Goods index rose 1 percent led by Schaeffler India, Hindustan Aeronautics, Lakshmi Machine Works:
- BSE Oil & Gas index trading in the green backed by HPCL, Indraprastha Gas, Indian Oil Corporation:
- India’s services PMI finishes 2023 at three-month high of 59.0
- India Global December Services PMI at 59 compared 56.9 and Composite PMI at 58.5 versus 57.4, MoM.
- Maharashtra government revives wine marketing initiative, grants VAT refunds; Sula Vineyards up 11%
- Tata Motors arm announces e-vehicle platform ‘acti.ev’
- Gold set for first weekly loss in four; US employment data in focus
- Oil prices higher on Fed remarks on inflation, Middle East concerns
- Dollar heading for highest week since July, yen on back foot
- HDFC Bank shares move in red on Q3 release, gross advances climb 62.4%
- Kaveri Seed board authorizes share purchase up to Rs 325 crore
- UFO Moviez India dissolves joint venture agreements with Qube Cinema Technologies
- I-T department alleges Rs 4,000 crore demand from Shree Cement for improper claims & deductions, claiming Sources
- Jupiter Wagons bags contract for Rs 473 crore from Ministry of Defence
- ESAF Small Finance Bank reports 41% YoY rise in deposits
- Utkarsh Small Finance Bank Q3 total loan portfolio expands 30.8% YoY at Rs 16,408 crore
- L&T Finance Holdings says retail disbursements for Q3 projected to climb 25% YoY to Rs 14,500 crore
- Dabur anticipates consolidated sales to record mid to high single digit increase in Q3FY24
- JLR UK December Sales | Total Sales increased 60 percent at 5,588 units vs 3,501 units, YoY.
- Dendana Investments Mauritius takes over half a percent stake in Sobha
- Seabright II offloads over half a percent interest in Tracxn Technologies
- Pabrai Investment Funds sells 2.03% stake in Sunteck Realty
Indian Market Stocks
| Sensex | 178.58 | +0.25% | 72,026.15 |
| Nifty 50 | 52.20 | +0.24% | 21,710.80 |
| Bank Nifty | -36.85 | -0.08% | 48,159.00 |
Market Movers
| Adani Ports | 31.05 2.76% | Nestle | -45.24 -1.67% |
| TCS | 71.10 1.94% | Britannia | -88.95 -1.66% |
| Larsen | 63.20 1.83% | UPL | -6.40 -1.09% |
| SBI Life Insura | 22.55 1.58% | Sun Pharma | -12.75 -0.97% |
| LTIMindtree | 81.25 1.39% | JSW Steel | -7.70 -0.92% |
News updates
Anticipate a slump in 2024; steer clear of stocks with dubious fundamentals and place bets on these themes
Following an exceptional 2023, in which the Nifty and Sensex both experienced 20 percent gains, the Indian equities markets started 2024 with modest gains amidst elevated volatility. On January 1, the VIX volatility index spiked to 14.5, signalling the impending arrival of extreme volatility.
Large selling episodes may occur at higher VIX levels, according to analysts. However, Vinod Nair, Head of Research at Geojit Financial Services, stated that India is expected to continue to outperform in the long run because of a strong domestic political and economic structure.
Apple’s rating is downgraded again in 2024, marking a difficult beginning.
After Piper Sandler became the second brokerage this week to lower Apple’s shares because to concerns about the company’s sluggish demand for its products, particularly the iPhone, the company saw more declines on Thursday, losing almost $176 billion since the start of the year.
On Thursday, the company’s shares fell 1.7% to $181.20, an eight-week low. Apple’s daily value may drop by $47.4 billion if the declines continue.
They continued, “Adani Transmission is the biggest beneficiary of the same.” Adani Transmission changed its name to Adani Energy Solutions in July 2023.
Rights issue: At Rs 1,812 per share, Grasim plans to issue roughly 2.2 crore shares.
The flagship company of the Aditya Birla Group, Grasim Industries, fixed the price for the rights issue, which was approved in October, at Rs 1,812 per rights equity share. The cement manufacturer intends to raise a maximum of Rs 4,000 crore to fund its ongoing capital expenditure plan and pay off its outstanding debt.
There will be 2,20,73,935 rights equity (RE) shares issued by the corporation in total. Investors will pay Rs 1,812 on a fully paid basis, which is 12.40 percent less than the previous closing price. A company’s offering of shares or convertible securities to its shareholders is known as a rights issue. Businesses use this approach a lot to raise money for different reasons.
The ratio of the rights entitlement, owned by the qualifying equity shareholders on the record date, is six shares for every 179 fully paid-up equity shares of the corporation.
According to DGCA, domestic carriers welcomed 133 aircraft in 2023.
In 2023, domestic airlines added 133 new aircraft to their fleet, a 51% increase in yearly total as they continued to grow their networks to accommodate the increasing number of passengers. Twenty-one of the 133 aircraft were taken on a wet lease by the carriers.
The Directorate General of Civil Aviation (DGCA) stated in a release on January 4 that it is “suitably enhancing its regulatory capacity to further speed up the regulatory approvals related to the induction of aircraft” in response to the expected rise in aircraft inductions in 2024. It was not possible to gather precise information regarding the steps taken to strengthen the regulatory capacity right away.
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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.