Benchmark indices extended their losing run to the fourth consecutive session on Wednesday, ahead of the US Fed policy meeting outcome, inflation scare, and amid rising concerns over Omicron variant of coronavirus. The 30-share pack Sensex declined 329.06 points or 0.57 per cent to close at 57,788.03. The index has fallen 1,019 pts in the last four sessions. Its broader peer NSE Nifty dropped 103.50 points or 0.60 per cent to 17,221.40.
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CMS Info Systems IPO to open on December 21
The public issue is a pure offer for sale by promoter Sion Investment Holdings Pte Limited, an affiliate of Baring Private Equity Asia.
JUST IN: CCI approves RIL stake buy in Sterling & Wilson
Source: Agencies
What to expect from Thursday’s session?
— Ajit Mishra, VP – Research, Religare Broking
The USDINR spot is holding the rally and making new highs as the Fed has already acclimatised the fx market to a faster taper, so any indication over quickened rate hike calendar will support the appreciation in spot and we may see it breaching 76.50 zone. Otherwise a slightly hawkish policy on omicron concerns will lead to some consolidation in USDINR spot. Broadly we expect it to remain within 75.75-76.50. Only a consistent trading above 76.50 will lead the rally to 76.90-77 zone.
– Currency Desk of Emkay Global Financial Services
Anxiety over more anticipated hawkish policy statement by Fed pressurised the domestic indices to fall. Overall, Fed is expected to announce a faster end to its bond buying campaign and may signal a rate hike in 2022 amid rising inflationary pressure. While foreign investors continued their selling spree, all sectors barring auto traded in negative territory
– Vinod Nair, Head of Research at Geojit Financial Services
TECH VIEW: Nifty forms bearish candle
Rohit Singre, Senior Technical Analyst at LKP Securities
Rupee ends at lowest level vs dollar since April 24, 2020
Rupee ends at 76.23 vs USD
Top 5 gainers & losers of Wednesday’s trade
Price as on 15 Dec, 2021 03:43 PM, Click on company names for their live prices.
IT, private lenders among top Sensex drags today
CLOSING BELL: Sensex slips for 4th day, ends 329 pts lower ahead of Fed outcome; Nifty barely holds above 17,200; Paytm tanks 8%, Sun Pharma gains 3%
India VIX up nearly 2% at 17.26
Fitch on TCS
Long-term issuer default rating upgraded to A from A-
Outlook Stable from negative
State-run power giant NTPC on Wednesday said it has awarded a standalone fuel-cell based green hydrogen microgrid project at Simhadri, in Andhra Pradesh.
Price as on 15 Dec, 2021 02:53 PM, Click on company names for their live prices.
Auto stocks on the rise on reports Cabinet OKs PLI in semiconductors
Price as on 15 Dec, 2021 02:44 PM, Click on company names for their live prices.
European shares inch higher as investors eye major Fed policy outcome
European shares inched higher on Wednesday ahead of the U.S. Federal Reserve’s policy decision that is likely to signal a quicker withdrawal of its pandemic stimulus measures to counter broadening inflationary risks. The pan-European STOXX 600 was up 0.5% at 471.84 points, as of 0831 GMT. Stock markets across Asia skidded as China’s weaker-than-expected retail sales in November dented sentiment.
ITC is fundamentally a good stock, it pays better than market yield. One day, you will get the breakout but who knows when? I own some ITC and I have been waiting for years. It is kind of a joke but it is a core part of one’s portfolio. But going back to index funds, a lot of the foreign money which currently looks like it is going out. Index funds are the easiest way for a foreigner to invest in India. These are foreign funds that have index funds in India. So that is a place where money can go. I would not count them out. Of course, the active managers will outperform because we have got special opportunities but the real thrust will come in investment into index funds. That is my personal belief.
– Pashupati Advani of pashupatiadvani@globalforay
Nykaa launches skincare brand Elemis on the global store; stock gains over 4.5%
Price as on 15 Dec, 2021 01:39 PM, Click on company names for their live prices.
Genus Power Infrastructures has received Rs 325 cr worth of orders
Price as on 15 Dec, 2021 01:18 PM, Click on company names for their live prices.
Maini Precision Products files draft papers with Sebi to raise funds via IPO
Maini Precision Products has filed preliminary documents with capital markets regulator Sebi to raise up to Rs 900 crore through an initial share-sale. The initial public offering (IPO) comprises fresh issuance of equity shares worth Rs 150 crore and an offer for sale of 2.55 crore equity shares by promoters and existing shareholders, according to the draft red herring prospectus (DRHP).
NIFTY AUTO best performing sector on NSE
- Check out the top gainers & losers from the pack
Tata Motors on Wednesday said it has tied up with Bandhan Bank for retail finance for its range of passenger vehicles.
Price as on 15 Dec, 2021 12:34 PM, Click on company names for their live prices.
We like Data Patterns given its vertically integrated business model, well-diversified portfolio, robust order book and strong client relationship along with consistent financials. The issue is valued at 55x FY21 P/E (on a post issue basis), v/s. 167x for MTAR and 138x for Paras Defense. We believe it could benefit from the government impetus on the defense/ aerospace expenditure. Hence we recommend Subscribe.
– MOSL
Adani Enterprises crowned most consistent wealth creator by Motilal Oswal
Adani Enterprises has emerged as the most consistent and the most all-round wealth creator. Motilal study defined consistent wealth creators based on the number of years the stock has outperformed in each of the last 5 years. Based on this, over 2016-21, Adani Enterprises has outperformed in all the last 5 years and has the highest price CAGR of 86 per cent.
Anupam Rasayan has signed long term binding contract worth Rs 135 crore with Japanese multinational customer for supplying an existing life science related speciality chemical. The company earlier signed LOI for this product with same customer and now have entered into a long-term contract for next four years.
Price as on 15 Dec, 2021 11:48 AM, Click on company names for their live prices.
HP Adhesives IPO subscribed 1.5 times
We have got more positive on the company, post the meet. The major expectation was on the possibility of demerger, and the company is open to the idea. Though it may take time, we may see separate three entities of FMCG, IT and Hotel as the industry recovers, in the future. Ongoing strategy focus will be on M&A, Exports and proximal markets. The company is actively pursuing acquisition opportunities in FMCG and IT businesses and has lined up an investment of Rs 10,000 crore over the next three years (35-40% in FMCG including cigarettes, 25-30% in Paper boards, 10% in Hotel business). Considering the long-term plans and rich cash position, the company is a decent value investment.
– Vinod Nair, Head of Research at Geojit Financial Services
Aditya Birla Fashion adds 3% on licensing agreement to take over Reebok’s India ops
Shares of Aditya Birla Fashion and Retail gained 3 per cent in early trade on Wednesday after the Kumar Mangalam-led firm said that it signed a long-term licensing agreement with New York-based Authentic Brand Group, which has the marketing and branding rights of Reebok. The domestic fashion player’s stock rose to a high of Rs 292.90 as against the previous close of Rs 283.50 on the BSE.The agreement will involve Aditya Birla Fashion conducting the operations of international sportswear, athletic and lifestyle giant Reebok in India and ASEAN markets.
L&T construction awarded large contracts for its water & effluent treatment business. Large contracts are between Rs 2500-5000 crore
Price as on 15 Dec, 2021 11:03 AM, Click on company names for their live prices.
GLOBAL NEWS: US House clears bill to raise debt cap by $2.5 trillion; now goes to Biden
We have got more positive on the company, post the meet. The major expectation was on the possibility of demerger, and the company is open to the idea. Though it may take time, we may see separate three entities of FMCG, IT and Hotel as the industry recovers, in the future.
– Vinod Nair, Head of Research at Geojit Financial Services
Advanced Enzyme Technologies has entered into a Mutually Exclusive Distribution Agreement with Azelis Singapore Pte. Ltd. for the distribution of food enzymes and probiotics for the food & dietary supplement industry in Indonesia, Malaysia, Philippines, Singapore, Thailand & Vietnam.
Price as on 15 Dec, 2021 10:59 AM, Click on…
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