Stock market essentials: December 26

Stock market essentials: December 26

Photo : iStock

CORPORATE ACTION:

Central Bank Of India: Board meet to consider the proposal of fund raising

Dhanuka Agritech: Buyback Issue to Open

Welspun Ent conference call for discussion on “Divestment of completed Highway Projects portfolio to Actis” on Dec 26

IPO Action:

Radiant Cash India IPO gets 4% demand on first day of sale; offer closes Dec. 27

IPO Lock-in

Supriya Life: Lock-in opens for pre-IPO investors; 48% of equity come out of lock-in

Other events

12:30 pm: Prime Minister Narendra Modi will participate in a programme commemorating ‘Veer Bal Diwas’.

President Droupadi Murmu to visit Hyderabad: Agencies

Covid: Karnataka govt likely to decide on guidelines on Dec 26: Agencies

Sources say

Hinduja Group revises their bid to Rs 10,000 crore for Reliance Capital acquisition

Hinduja’s resolution plan highest in terms of value so far, Torrent Group offered Rs 8,600 crore bid

Hinduja’s offer comprises of Rs 9,000 crore upfront cash

Torrent’s resolution plan offers Rs 4,000 crore upfront cash

Lenders to meet on Dec 26 for further discussion on bids

Lenders to take a final call on selecting H1 bidder based on resolution plan

Oil & Gas

Brent Crude at $83.92/bbl Vs $81/bbl

Singapore GRM at $8.89/bbl Vs $8.7/bbl

Asia Spot Gas prices at $28.12/mmBtu Vs $31.6/mmBtu

FII DII Cash market data

FIIs net sold Rs. 707 cr worth shares on December 23

DIIs net bought Rs. 3,399 cr worth shares on December 23

FII F&O DATA

Index futures net sold Rs 550.85 cr

Index options net buy Rs 5649.18 cr

Stock futures net buy Rs 825.07 cr

Stock options net sold Rs 51.60 cr

Bulk/Block deals:

Landmark Cars

Goldman Sachs Funds bought 3.5 lakh shares @ 466.5

Integrated Core Strategies Asia Pte sold 3.4 lakh shares @ 463.8

Zota Health Care Limited

Barclays Securities India sold 2.1lk shares @ 254.5

CORPORATE ANNOUNCEMENTS:

Dr Reddy’s

Dr Reddy’s Research and Development B. V entered into an Asset Purchase Agreement for sale of its certain assets and liabilities at site situated in Netherlands.

Above agreement completed and Asset Purchase Agreement is now effective

IDFC First Bank

SJVN

Wins 100 MW Wind Power Project @ Rs 2.90 per unit

The tentative cost of the development of this project is Rs 700 cr

Wins project in an e-Reverse auction conducted by Solar Energy Corporation Of India

Deep Industries

Wins two orders from ONGC worth Rs 178 cr

Gateway Distriparks and India Glycols

Completes acquisition of ICD Kashipur from India Glycols

NDTV

Appointed Sanjay Pugalia, as an Additional Director in the capacity of Non-Executive Non-Independent Director;

Appointed Senthil Sinniah Chengalvarayan , as an Additional Director in the capacity of Non-Executive Non-Independent Director

NDTV Founders – Prannoy Roy, Radhika Roy – to sell 27.26% stake to Adani Group. Founders to have only 5% equity in NDTV post the transfer.

Alkem Laboratories

Sold 8% post money stake in unit Enzene Biosciences Limited for Rs 161cr

Tata Motors

Delhi Transport Corporation signs a definitive agreement with TML CV Mobility Solutions Ltd, WOS for operating 1500 electric buses

United Breweries

NCLT dismisses plea by company against CCI order imposing penalty of Rs 751.83 cr

Quess Corp

Approved appointment of Mr. Kamal Pal Hoda as Group CFO and KMP of the Company wef January 10, 2023. Approves withdrawal of Scheme of Amalgamation of Allsec Technologies Ltd with Quess Corp

Restaurant Brand Asia

Popeyes, World-Famous Chicken Restaurant from Louisiana, US enters Indonesia and aims to expand rapidly by opening 300 restaurants in the coming years.

Equitas Small finance bank

PN Vasudevan in response to suggestions of Board has decided to stay on as MD and CEO

Board has resolved to renew his term for a further period of 3 years wef 23rd July 2023

Infibeam Avenues

Announces perpetual renewal of the Bharat Bill Payment License by RBI

The perpetual license will help the company to offer safe, secure and uninterrupted services

It will help to expand into the hinterlands of India

Music Broadcast

NCLT approves issuance of non-convertible non-cumulative redeemable preference shares to non-promoter shareholders. The company will issue one bonus NCRPS of Rs 100 for every 10 shares held.

Suryoday Small Finance

Board approved transfer of stressed loan portfolio of Rs 492 cr to ARC for Rs 135 cr.

Blue Dart Express

21% of institutional shareholders voted against a related party transaction. However, on overall basis the resolution was approved.

SpiceJet

Continues to explore options to settle dues

Transfer of cargo business is in process

Awaiting nod from lenders on financial facilities availed

Karnataka Bank

Receipt of RBI approval for appointment of Sekhar Rao as the Executive Director of the Bank.

NXTDigital

Name to changed to NDL Ventures

Ashok Hinduja will relinquish his role as Chairman Executive of the Company

Sudhanshu Tripathi, Director will assume the role of Non -– Executive Chairman

Rajnish Wellness

Received approval from Eastern Railway for setting up of Business Centres at 500 plus railway stations.

Eastern Railway will offer a pre-defined space to Rajnish Wellness for carrying out various business activities including distribution of medicines under its signature Franchisee model.

Mgmt believes with implementation of this project revenue and profitability will increase multi-fold.

Siemens

Received Letter of Award from the Ministry of Railways.

Earlier on Dec 6, had emerged as the lowest bidder (L1) for the 9000 HP Electric Locomotives project in Dahod, Gujarat, India

Company is yet to execute the contract for the Project with the Ministry of Railways.

Godrej Properties + D B Realty

Godrej Properties Limited has entered into a JV with Neelkamal Realtors Tower Private Limited (NRTPL), a WOS of D B Realty

To develop property situated in Byculla, Mumbai

The project is being developed via a SPV, viz, Godrej Residency Private Limited (GRPL), wherein Godrej Prop will hold 50.01% and the balance 49.99% will be held by NRTPL

Dhani Services + Indiabulls Real Estate

Pursuant to a Share Purchase Agreement, dated December 23, 2022, acquired 100% stake (on a fully diluted basis) of Juventus Estate Limited and Mabon Properties Limited which collectively own the land parcel admeasuring 35 acres approx. at Sector 104, Dwarka Expressway, Gurugram, Haryana.

Alert: Juventus Estate Limited and Mabon Properties Limited are WOS of Indiabulls Real Estate

Acquisition to provide new business opportunities for to venture into real estate business

Enterprise value aggregating to Rs. 240 Crores

Welspun Corp

Commissioning of its Coke Oven plant in Anjar, Gujarat through Welspun Metallics Limited, a wholly owned subsidiary

This facility has a production capacity of approximately 210,000 MT per annum of Coke which will primarily be used in the Blast Furnace for manufacturing of Hot Metal.

This will help with continuous supply of high-quality coke at a competitive cost to run the plant efficiently.

Othe news (From agencies):

India Forex Reserves Fall $0.6 Bn To $563.5 Bn As Of Dec 16

RT-PCR test mandatory for international arrivals from China, Japan, S. Korea, Hong Kong & Thailand

If passenger found symptomatic or tests positive for Covid-19, will be put under quarantine

CBI gets 3-day custody of Chanda & Deepak Kochhar in the alleged ICICI Bank-Videocon loan fraud case

IEA warns oil output curbs could damage emerging economies

Oil Min says 20% ethanol-blended petrol to debut within days

SEBI looks to review fee levied by MF schemes, initiates study: Informist

NCLAT sets aside CCI order on DLF, remanded back directing to examine

Reduce basic customs duty on critical raw materials for aluminium sector: Assocham

Putin says Russia ready to negotiate over Ukraine

Tesla is offering $7,500 discounts on Model 3 and Model Y electric vehicles delivered in the United States this month, its website showed, amid concerns the automaker is facing softening demand

Coal India appoints Mukesh Choudhary as Director Marketing for 5 years

Elon Musk Says “Twitter Isn’t Secure Yet, Just Not In The Fast Lane To Bankruptcy. Still Much Work To Do” – Tweet

Active Covid cases in country rise to 3,424: PTI

India develops herd immunity; BF.7 variant may not be as serious as in China: CCMB chief: PTI

India May Spend Less on Fertilizer Subsidy to Ease Fiscal Burden

Economy growth momentum has sustained well in Oct-Dec

Growth remains broad-based supported by domestic demand

Economy outlook expected to be complicated by global developments

Private investment expected to remain upbeat

India needs to secure tech, alternate energy resources

Food inflation may decline in coming months

Fuel and light inflation may decline in coming months

Inflation is coming down

Some provisions of defence policy bill raise concerns