Indian Indices: Nifty has been flirting to its 50-DEMA from last 38 trading sessions and got stuck in a broader trading range with crucial hurdle at 10950-10985 zones.
Global Market:
Asian markets: Shares in Hong Kong are higher today as the Hang Seng gains 1.60%. The stock markets in Tokyo and Shanghai are closed at this time.
US Markets: U.S. Stock Futures Rally After Trump-Xi `Big Progress' Phonecall.
European markets: European markets closed sharply higher on Friday with shares in London leading the region. The FTSE 100 is up 2.27% while France's CAC 40 is up 1.74% and Germany's DAX is up 1.71%.
Major Headlines of the day:
Stocks To Watch
Marico: Minimum Support Price for Copra has been hiked by over Rs 2,000 per quintal for 2019 season by CCEA. The MSP of Copra has been increased from Rs 7,511 per quintal to Rs 9,521 per quintal. (Bloomberg News-All India Radio) IDBI Bank allotted 239 crore shares via preferential issue to LIC at a price of Rs 60.73 per share aggregating to Rs 14,500 crores in tranche 1. This exercise is the part of ongoing acquisition of 51 percent controlling stake by LIC in IDBI Bank. Aavas Financiers received fresh refinance assistance of Rs 500 crore from National Housing Bank. The company says that this refinance will strengthen the liquidity position of the company and will provide a strong boost to retail home loan activities in semi-urban and rural areas. Power Grid Corporation entered into a loan agreement for 200 million euros with Germanys KfW for the financing of transmission project for integration of clean energy and system strengthening. Government conveyed its decision to invest Rs 5,500 crore in Oriental Bank of Commerce by way of preferential allotment. The meeting to consider this capital raise will be held on Jan. 2. JK Cement approved qualified institutional placement Issue price at Rs 695.8 per share which is at a discount of 5 per cent to the floor price of Rs 732.42.
credit access Grameen completed a direct assignment transaction of Rs 176.59 crore. The company says that with this transaction, the entity has completed five secularisation transactions and two direct assignment transaction amounting to Rs 909.70 crore in the financial year 2019. The financial services company also stated that the entire pool qualifies for priority sector treatment as per the Reserve Bank of Indias Priority Sector lending guidelines. Rane Holdings increased its stake in its arm Rane Madras Ltd. from 3.05 per cent to 61.64 per cent for a consideration of Rs 20 crore. Manali Petrochemicals clarified that there was no strike or lockout and no insurance cover based on notice received from the Pollution Control Board for the closure of Plant 1 on Dec. 25. The company also stated that quantum of loss would depend on the period of closure and the company has taken actions for an early restart to recoup the production loss.
Karnataka Bank raised its deposit interest rate by 10 basis points for domestic and NRE Rupee term deposits to 7.40 per cent with effect from Dec. 28. Government conveyed its decision to invest Rs 1,632 crore in Syndicate Bank by way of preferential allotment of equity shares. Piramal Enterprises said it was considering raising Rs 100 crore via NCDs on Jan.2. Central Bank of India's board approved raising Rs 200 crore via employee stock option.
Ashok Leyland changed its object clause in which the company will engage in the business of developing, manufacturing and selling light commercial vehicles up to 7.5-tonne gross vehicle weight, powertrain for LCVs, and spare parts in India and other countries. This change in object clause comes after NCLT approved the order of amalgamating its three arms with as on Dec. 17.
Omaxe clarified that the NCLT issuing contempt notice against its CMD Rohtas Goel was wrongly interpreted as the notice is related in Buildwell Builders Pvt. Ltd., where Rohtas Goel is the director as well as the shareholder. There is no effect on the operations or the performance from the above news as stated by the company.
Bank of Baroda to consider raising funds on Jan. 02 through Basel III compliant tier II bonds.
Tata Investment Corporation fixed Jan.11 as the record date for buy-back.
Infibeam Avenues terminated the proposed acquisition in the entire stake of Unicommerce, as the conditions precedent were not fulfilled within the stipulated time period. NLC India commissioned 1000 MW (2*500 MW) of the thermal power project. The project has been completed in four months as against a target of six months. Asian Granito's promoter and MD was arrested by Directorate of Revenue Intelligence for a case related to an amount of Rs 3.5 crore. Currently Mukeshbhai Patel is out on bail.
Fortis Healthcare: Pursuant to share issue, IHH prefers to align its auditors on a group-wide basis which may streamline the audit process and bring inefficiencies. After due consideration, Deloitte the statutory auditors have tendered their resignation.
Cadila Healthcare: received final approval from the U.S. FDA to sell an anti-acne medication. The drug will be made in Ahmedabad facility.
Bank of India: Government to infuse Rs 10,086 crore via equity in the bank. Board to consider resolution for the same on Jan. 02.
Bharat Financial Inclusion: NBFC assigned a pool of receivables of an aggregate value of Rs 849.36 crore to private sector banks on a direct assignment basis. With this transaction, the Company has completed five direct assignment transactions worth Rs 3,864.91 crore in the current financial year.
Kotak Mahindra Bank in focus today as it is the RBI deadline date for owner Uday Kotak to cut stake in the company.
The trend in FII flows:- The FIIs were Net Value of Rs -119.6 segment while the DIIs were Net Value of 1199.4 the provisional figures.
Securities in Ban For Trade Date 31-DECEMBER-2018
1.Adani power
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