Sensex
The top gainers on the Sensex are HCL Technologies, Bharti Airtel, Bajaj Finance, NTPC, and Power Grid Corporation, while the top losers are HUL, ITC, M&M, Tech Mahindra, and Asian Paints.
Closing bell
Indian market news
Fii and Dii data
| Fii Bought | 1,696.86 Cr |
| Dii Sold | 3,497.62 Cr |
Indian market news
- Mutual fund AUM surpasses Rs 50 trillion for the first time; equity inflows remain stable at Rs 16,997 crore.
- Chambal Fertilisers’ board of directors has approved a repurchase of up to Rs 700 crore.
- Kalyan Jewellers gains 3% on Q3 business report; experts are optimistic about growth
- According to CNBC-TV18, 0.5 percent equity was exchanged in the block transaction window.
- ACC will buy the remaining 55% of Asian Concretes & Cements. 360 ONE Prime to raise up to Rs 1000 crore through NCDs: SIP inflows of Rs 17,610 crore versus Rs 17,703 crore inflows
- India surpasses Taiwan in MSCI EM index weightage to take second place behind China.
- Mobikwik IPO | Financials, peer comparison, and listing facts in 5 charts
- Asian Concretes & Cements is acquired by ACC; shares decline
- DLF’s luxury property project in Gurugram sold out in 72 hours in pre-sales for more than Rs 7,200 crore.
- Adani Wilmar shares fall 2% after standalone sales fall 15%.
- The LIC has received a Rs 191 crore GST demand notice from the CGST in Gandhinagar.
- Asian Concretes & Cements’ remaining 55% interest is acquired by ACC.
- Jupiter Wagons luggage Automobile maker awards Rs 100 crore contract
- Marico’s revenue fell by the low single digits in the third quarter. Operating profit growth is in the low double digits year on year.
- The LIC has received a Rs 191 crore GST demand notice from the CGST in Gandhinagar.
- Union Bank of India advances increased 11.44% year on year to Rs 8.96 lakh crore in the third quarter.
- Bank of Baroda’s global advances increased by 13.6% in the third quarter, while deposits increased by 8.34% year on year.
- Titan’s revenue increased by 22% in the third quarter. Jewelry sales are up 23% year on year.
- In yet another positive surprise, the government forecasts FY24 GDP growth at 7.3%.
Indian Market Stocks
| Sensex | -670.93 | -0.93% | 71,355.22 |
| Nifty 50 | -197.80 | -0.91% | 21,658.60 |
| Bank Nifty | -708.75 | -1.47% | 47,450.25 |
Market Movers
| Adani Ports | 14.60 1.26% | UPL | -20.35 -3.50% |
| HCL Tech | 15.10 1.05% | SBI | -14.95 -2.33% |
| ONGC | 1.50 0.69% | SBI Life Insura | -33.10 -2.28% |
| Hero Motocorp | 19.20 0.48% | Divis Labs | -80.60 -2.01% |
| NTPC | 1.50 0.48% | Britannia | -95.00 -1.80% |
News updates
Since May 2023, 29,273 fraudulent companies implicated in tax evasion of Rs 44,015 crore have been found.
Since the special search for fake registrations started in mid-May 2023, as many as 29,273 fictitious companies linked to suspected input tax credit (ITC) cheating of Rs 44,015 crore have been found, the Finance Ministry announced on January 7.
“Since the start of the targeted campaign against fraudulent registrations in the middle of May 2023, 29,273 fictitious companies suspected of evading Input Tax Credit (ITC) worth Rs. 44,015 crore have been identified. This has prevented ITC from taking effect, saving Rs 4,646 crore, of which Rs 3,802 crore came from recovery and Rs 844 crore from preventing it. In relation to the cases, 121 arrests have been made thus far, according to a ministry statement.
It further stated that 4,153 bogus organisations, involving suspected ITC evasion of about Rs 12,036 crore, were found in the quarter that concluded in December 2023. Up to 2,358 of these bogus businesses were found by the central GST officials.
TN GIM 2024: The government of Tamil Nadu releases a plan to reach a $1 trillion economy
A plan to make the state’s GDP reach $1 trillion by 2030 was revealed by the Tamil Nadu government on January 7 at the two-day Global Investors Meet in Chennai. The report’s releaseer, Chief Minister MK Stalin, declared, “We have set ourselves an ambitious target of becoming a $1 trillion economy by 2030.”
To achieve this, the state has identified seven essential tenets: governance, infrastructure, human capital, innovation, market efficiency, investments, and comprehensive inclusive growth.
Dalal Street Week Ahead: Things to Watch: Red Sea Crisis, US & India Inflation, Q3 Earnings
The upcoming trading week will be influenced by significant events such as Q3 earnings season, inflation data, and individual stock triggers. The Nifty, which recently reached a high of 21,834, moves closer to the 22,000 level. The Nifty ended the week at 21,710, down 0.1%, while the Sensex closed at 72,026, down 0.3%. Sectors like Nifty Realty and Nifty Media saw significant gains, while IT and Metal experienced losses. The overall market outperformed for the second week, with the Nifty Smallcap 100 increasing by 1.9% and the Nifty Midcap 100 climbing by 2.5%. Analysts advise caution for results season due to ongoing unpredictabilities in the Red Sea.
TN GIM 2024: Ahead of the Vibrant Gujarat meeting, Tamil Nadu makes every effort to attract investors.
The presence of grey clouds over Chennai on Sunday morning may have caused a momentary wave of anxiety among government officials and the organisers of the Tamil Nadu Global Investors Meet (GIM).
To their great relief, it ended in a rain, and business leaders and delegates crowded the summit venue in Nandambakkam, the capital city’s western district.
MK Stalin, the chief minister of Tamil Nadu, exchanged his veshti and all-white shirt for a dapper suit. In his inaugural speech, he mentioned it briefly, saying, “I usually wear a suit only when I travel overseas.” I decided to wear it today because Chennai is home to people from all over the world.
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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.