News and Impact
· Expects market to open on a soft note on account of global cues. Japanese equities declined by 2%, leading the losses in Asia as worries over a new variant of the coronavirus spurred risk-off moves across Asia. South Korea, Taiwan and Australia Index declined half to one percent. The variant recently discovered in South Africa carries an unusually large number of mutations and is clearly very different from previous incarnations. WTO meeting will be held today for discuss on new pandemic in South Africa. US market will be open today for half day while Dow Future slipped over half percent. SGX Nifty declined 0.7%.
· European stocks advanced the most in three weeks as risk appetite outweighed concerns about withdrawal of stimulus and Covid-19 restrictions in the region. France Index gained half percent. Both UK and Germany Index soared quarter percent each.
· Oil edged lower by 1% to below $82/bbl as the market turned its attention to OPEC+’s response to a coordinated release of reserves by major consumers. The alliance meets next week to decide output policy for January following the unprecedented move by the U.S. and other nations to tap strategic stockpiles to tame rising energy prices.
· Gold steadied at $1793/ounce as investors weighed a swath of positive economic data from the U.S. and an indication from Federal Reserve officials of faster tapering. U.S. data showing jobless claims at the lowest level in decades and an increase in consumer spending.
· Weak opening in the Asian markets and continued FIIs selling may negative impact in the market. Rising pandemic cases in the euro and Asian region maus a major concern. Traders buy on decline strategy and stock specific action expected in the market. FIIs were net sellers Rs2301cr while DIIs were net buyers Rs1368cr
· Brokers Radar – Macquarie TGT on HDFC Bank at 2005, Abbott India TGT by Brenston at 14330, Brenston TGT on Dr Reddy at 5034, Lupin Lab TGT by Brenston at 1110, Brenston TGT on Sun Pharma at 901, Brenton TGT on Cipla at 995
· Actionable - BUY - Fortis, Coforge, National Aluminum
· Events – Tarsons listing, Bharti Airtel tariff hike by 20% commence from today. Ex-Dividend - Godawari Power – stock split from Rs10 to Rs5 and bonus 1:1, L&T Tech special dividend Rs10, HUL Rs15, DCM Shriram Rs4.60, Infosys Rs15, Nestle Rs110, Goldiam International share-buy back meeting, Cyient Rs10. ONGC and MRPL merger board meeting today
· Market Summary - HUL, ITC, Parle: FMCG Firms Hike Prices The Second Time This Fiscal As Input Costs Rise, Bharti Airtel Conducts First Trials for 5G Telecom Services, BlackRock, Canada Pension Bought More Paytm Stock After Rout, TCS Bags Contract From South32 To Enhance IT Operating Model, Amazon vs Future Retail: Supreme Court To Hear Amazon's Petition Against Delhi HC Order On Monday, TTK Prestige To Buy 51% Stake In Ultrafresh Modular Solutions. Bosch partners German GIZ for promoting sustainable mobility solutions in Indian cities, JSW Energy Board Approves Re-Organisation Of Renewable And Thermal Businesses, Axis Bank and IndusInd Bank aim to raise Rs 4,000 cr, Metropolis says ramping up labs, collection centres
· Focus on FMCG stocks – HUL, ITC, Britannia after price hike - Hindustan Unilever raised prices in the range of 4-22% across its soaps and detergents segment, it stood at 7-10% for ITC Ltd.’s personal care brands. Parle Products Pvt. plans to increase prices by 8-10% across its biscuits, snacks and confectionery products in the ongoing quarter ending December.- Positive for HUL, ITC, Britannia
· Axis Bank and IndusInd Bank are planning to raise about Rs 4,000 crore in perpetual bonds and infrastructure bonds to make use of a window before the Reserve Bank of India's monetary policy next month – Positive for Axis and IndusInd Bank
· Metropolis Healthcare is ramping up testing capacity across its existing network as well as adding 90 new testing laboratories and 1,800 collection centres in next three years. - positive
· Bosch said it has partnered with Deutsche Gesellschaft fr International GmbH to jointly launch a green urban mobility innovation initiative for implementing sustainable and smart mobility solutions across several Indian cities. – positive
· Nazara Technologies Ltd completes acquisition of 100% in OpenPlay – positive
· West Coast Paper - ICRA has reaffirmed West Coast Paper Long-term Issuer Rating at 'ICRA AA-'. The Outlook on the long-term rating is Stable.- positive
· Sobha Ltd - India Ratings and Research (Ind-Ra) has affirmed Sobha Limited's (Sobha) Long-Term Issuer Rating at 'IND AA-'. The Outlook is Stable- positive
· LT Foods' appoints Mr. Amit Mehta as Head of Convenience & Health Food Business – positive
· HCL Technologies Expands its Presence in Sri Lanka with the Opening of a New Facility at 'The Offices' in Cinnamon Life – positive
· Kirloskar Ferrous commences commercial production of Sinter Plant – positive
· Tarsons Products - The company will make its debut on the bourses today. The issue price has been fixed at Rs 662 per share. It has been subscribed over 77 times.
· Yes Bank: The bank has partnered with Amazon Pay and AWS for UPI payments.- Avoid on account of poor balance sheet
· Motherson Sumi Systems: The company has allotted 7,650 redeemable NCDs on private placement basis for Rs 765 crore.- positive
· Greenlam Industries - Board meeting is scheduled to be held on December 13, 2021, inter alia, to consider and approve the proposal to sub-divide/split the face value of equity shares of the company from Rs 5 per share to Re 1 per share.- Sentiment positive
· Aditya Birla Capital and Honeywell Automation India - NSE has included these two new stocks in Futures and Options series from December 31.- Positive
· Engineers India - The company and Chempolis OY, Finland, have signed a strategic alliance for the conversion of biomass to green fuels.- positive
· Aurobindo Pharma - Life Insurance Corporation bought 79,000 equity shares of Aurobindo Pharma through an open market transaction on Wednesday - positive.
· Kirloskar Pneumatic - HDFC Asset Management Company sold 16.58 lakh equity shares of Kirloskar Pneumatic through an open market transaction on Tuesday.
· SpiceJet – Company has settled a lawsuit filed by aircraft lessor Goshawk and its trustee Wilmington Trust SP Services Dublin attempting to block the transfer of its cargo and logistics business to a separate company, a news report said. The settlement paves the way for SpiceJet to complete the spin-off by January 2022. - positive
· JSW Energy has approved the re-organisation of its renewable and thermal businesses. All existing and upcoming renewable energy businesses will be housed under JSW Energy Neo Ltd, which will be a wholly owned subsidiary of the company. – positive
· Eicher Motor announced commencement of operations of its local assembly unit and completely knocked down (CKD) facility in Thailand, one of the world’s largest automobile manufacturing hubs.- Positive
· L&T Infotech said it opened an innovation and experience hub at the company's campus in Bengaluru, India, focusing on global giant IBM technologies. This new hub will showcase the company's solutions that have been co-created using IBM technologies such as IBM Cloud and Cloud Paks. - positive
· PAYTM to hold conference call on November 27 at 6pm. BlackRock, Canada Pension Bought More Paytm Stock after shares plunged by as much as 41%.
· TCS bagged a contract from South32, a global mining and metals company, to enhance its IT operating model and provide application and infrastructure services critical to its global operations - Positive
· Amazon approached the apex court against Delhi High Court's direction to CCI to take a call on revoking 2019 approval for Future Coupons-Amazon transaction.
· TTK Prestige Ltd. acquired a 51% stake in Ultrafresh Modular Solutions, a company in the business of modular kitchens, for Rs 30 crore. - Positive
· Aurionpro wins order from Uttar Pradesh state transport corporation - positive
· Bharti Airtel successfully conducted India's first 5G trial in the 700 MHz band in partnership with Finnish telecom company Nokia.- Positive
· Power stocks focus - The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the formation of a company special purpose vehicle (SPV) to privatise the electricity distribution business in the Union Territories of Dadra & Nagar Haveli and Daman & Diu - positive for Tata Power, Adani Transmission
· Indiabulls Housing Plans Up to INR20b Public Bond Sale, Issue rating: AA+ (Brickwork), AA (Crisil) - positive.
· NIIT bags ASSOCHAM Award for Building Sales and Service Capability Enabling Business – Positive
· Shriram Transport has approved allotment of 17.36lakh equity shares of face value of Rs. 10 each fully paid up issued at a premium of Rs. 1430/- per equity(CMP 1567) share to Shriram Capital (promoter company)- long term positive
· KPIT Technologies announced re-certification of Automotive SPICE (Software Process Improvement and Capability determination) Organizational Process Maturity Level 5 – Long term positive
· Mukta Arts – Company launch nine new screens across India. The screen count of Mukta A2 Cinemas goes up to 55 screens.- positive
· Gokul Agro - Ind Ra assigns credit ratings to Gokul Agro Resources at ‘IND BBB+. Stable outlook – positive
· PNB - CARE revises Punjab National Bank's Basel II Upper Tier II Bonds from to ‘CARE AA+/Stable’- positive
· BSE Limited has signed an MoU with the Madurai District Gold and Silver Merchant Association to provide the impetus for the growth and development of commodities and proposed Electronic Gold Receipt (EGR) market in India.- Positive
· Cybertech Systems - Ind-Ra upgrades its credit ratings from Long-Term Issuer Rating at ‘IND BBB/Stable/IND A3+’.- positive
· AU Small Finance Bank - CRISIL Ratings has revised its rating outlook on the fixed deposit programme and long-term debt instruments of AU Small Finance Bank Limited to 'Positive' from 'Stable'. At 'FAA+' and 'CRISIL AA-' respectively
· Sandur Manganese & Iron Ores receives 5 Star Rating from Ministry of Mines – Positive
· Centre appoints Dr Amit Kansai as Independent Director on NHPC board – positive
· Supreme Petrochem restoration of production activity at EPS Plant in Manali, Chennai. Supreme Petrochem had temporary shut down Manali plant due to heavy rains in Chennai earlier this month.- positive
· Schneider Electric on Thursday launched its sustainability engagement initiative, Green Yodha, in India to encourage industries, businesses and people to take concrete climate action - positive
· Aegis Logistic - India Ratings and Research (Ind-Ra) has affirmed Aegis Logistics Long-Term Issuer Rating at ‘IND AA’. The Outlook is Positive
· Nagarjuna Fertilizers and Chemicals Ltd temporarily shuts Urea Product in Plant 1 – Avoid. CA Rajesh Desai
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