Sensex
Broader indexes outperformed the major indices, contributing 0.7 percent apiece to the BSE Midcap and Smallcap indices.
Closing bell
Indian market news
Fii and Dii data
| Fii Sold | 1,721.35 Cr |
| Dii Bought | 2,080.01 Cr |
Indian market news
- The BSE Smallcap index hit a new high of 44,356.12 led by Imagicaaworld Entertainment, MRPL, and Easy Trip Planners.
- Lincoln Pharma, Global Health, and Suven Life Sciences boosted the BSE Healthcare index by 0.3 percent:
- The BSE Auto index rose 1%, led by Hero MotoCorp, TVS Motor Company, and Bajaj Auto:
- HDFC AMC’s third-quarter net income exceeds expectations.
- According to ICRA, the Government of India will aim for a budget deficit of 5.3% of GDP in FY2025.
- The dollar falls ahead of US inflation statistics, while bitcoin rises.
- On the closing day, the retail part of the Jyoti CNC IPO was booked 21 times.
- Smallcap World Fund invests Rs 67 crore in NCC.
- Gold rises as the dollar weakens ahead of US inflation data.
- Tata Consultancy Services will report third-quarter results on January 11:
- The India Japan Fund would invest Rs 400 crores in a subsidiary of M&M.
- The RBI awards UGRO Capital a Certificate of Registration to begin and operate a factoring firm.
- The Ayodhya miracle boosts this small-cap stock by 70% in a month; vibrant Gujarat and the Lakshadweep campaign aid
- Bloomberg reports that Maruti Suzuki will begin exporting electric vehicles to Europe and Japan this year.
- Polycab India Large Trade | According to CNBC-TV18, 33 lakh shares (2.2 percent equity) worth Rs 1,293 crore change hands in several blocks.
- Shyam Metalics & Energy’s December Steel sales increased by 51% year on year to 2,49,550 tons.
- Phoenix Mills claims a 24% year-on-year increase in overall consumption of Rs 3,287 crore.
Indian Market Stocks
| Sensex | 63.47 | +0.09% | 71,721.18 |
| Nifty 50 | 46.85 | +0.22% | 21,665.55 |
| Bank Nifty | 83.50 | +0.18% | 47444.35 |
Market Movers
| Hero Motocorp | 204.15 4.93% | Infosys | -25.70 -1.69% |
| Bajaj Auto | 245.10 3.47% | Dr Reddys Labs | -94.75 -1.64% |
| Reliance | 69.70 2.63% | SBI Life Insura | -23.65 -1.63% |
| Axis Bank | 18.75 1.69% | HUL | -41.20 -1.60% |
| BPCL | 7.45 1.65% | Wipro | -5.40 -1.19% |
News updates
Exclusive: JSW Cement selects bankers and launches massive Rs 6,000-cr IPO following the listing of JSW Infra.
Several persons acquainted with the issue said that Sajjan Jindal’s JSW Group has approached investment bankers to help with the group company JSW Cement’s IPO.
One of the aforementioned individuals, who asked to remain anonymous, stated, “As of right now, the target is to raise up to Rs 6,000 crore, mop up growth capital and fund the company’s aggressive expansion plans.” He continued by saying that the magnitude of the share sale had not yet been decided.
Leading the charge is Parth Jindal, whose intention to list JSW Cement comes after the group’s first public offering (IPO) in thirteen years, that of JSW Infrastructure. With a capacity of 60 million tonnes annually, the so-called green cement maker hopes to rank among the top five cement makers in the country in the next five years.
4% QoQ revenue decline expected for Wipro in Q3 due to sluggish demand; wage increases will hurt margins
Analysts predict that Wipro Ltd, a significant player in the IT industry, will see a 4% quarter-over-quarter (QoQ) decline in revenue for the third quarter of the current financial year due to greater than usual furloughs, notably in the banking, financial services, and insurance (BFSI) and hi-tech verticals. This is anticipated to keep net profit limited in Q3 FY24, combined with weak discretionary demand and cross-currency tailwinds. On January 12, 2024, the corporation is supposed to release its October–December results.
Five brokerages’ average forecast states that revenue will drop by 4% on a quarter-over-quarter basis to Rs 22,408 crore. In terms of revenue growth for the quarter, this would be worse than the extreme end of the management projection band, which is between -1.5 and -3.5 percent. However, Wipro’s net profit is probably going to plummet sharply, dropping by 9% on a quarter-over-quarter basis to Rs 2,756 crore.
In an effort to earn about Rs 4,500 crore, Aurobindo Pharma is currently considering a massive IPO of Eugia Pharma Specialitie
According to many industry sources who spoke with Moneycontrol, Aurobindo Pharma is currently considering a big-bang initial public offering (IPO) of its wholly-owned subsidiary, specialty generic company Eugia Pharma Specialities, in order to earn about Rs 4,500 crore in 2024. The company is currently in value unlocking mode again.
Due to disagreements over values, the Hyderabad-based parent company’s last attempt to sell Eugia failed. In 2022, it had talks with leading private equity firms, but the conversations never materialised into a deal.
SpiceJet’s shareholders have approved the idea to raise money by issuing warrants and shares.
SpiceJet has received approval from its shareholders to raise capital through the issue of equity shares and warrants following its annual general meeting. The shareholders approved the preferential issue of equity shares and warrants with an option to apply for and be allotted equivalent numbers of equity shares. The airline aimed to raise Rs 2,250 crore for development and revitalization, but the amount of fundraising approved by shareholders was not included in the filing. The plan to fund the funds was approved by the airline’s board last month, which will issue up to 130 million convertible warrants and 320.8 million new equity shares at an issue price of Rs 50 apiece.
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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.