Indian Indices: Nifty futures on Singaporean exchange are trading lower, mirroring the subdued sentiment as Wall Street witnessed selling pressure. This weighed on other Asian indices as well. The futures were trading at 10,970, a fall of 23 points on SGX Nifty.
Global Market:
Asian markets: Asian markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 1.78% while the Hang Seng is down 0.45%. The Shanghai Composite is not trading.
US Markets: Stock market sell-off continues as U.S. government shutdown looms.
European markets: European markets finished broadly lower today with shares in France leading the region. The CAC 40 is down 1.78% while Germany's DAX is off 1.44% and London's FTSE 100 is lower by 0.80%.
Major Headlines of the day:
Stocks To Watch
Dr Reddys Laboratories: Aquestive and Indivior said they would file a petition with the U.S. Court of Appeals for the Federal Circuit for hearing on the ruling to vacate the preliminary injunction that enjoined Dr. Reddys from launching its generic buprenorphine/naloxone sublingual film.
Punjab National Bank: CRISIL downgraded the ratings on various bonds of PNB to CRISIL AA+/CRISIL AA- from CRISIL AAA/CRISIL AA. Separately it has changed the outlook to Stable from 'Rating Watch with Negative Implications'. Bharti Airtel board approved the sale of up to 59.12 crore equity shares, representing 32 per cent stake of Bharti Infratel owned by the company to its arm Nettle Infrastructure Investments. After the deal, Bharti Airtel will own 18.33 per cent stake in its Infratel arm and Nettle Infrastructure Investments and the public will hold 35.18 per cent and 46.49 per cent, respectively. Infosys appointed Nilanjan Roy as company Chief Financial Officer with effect from March 1 2019, while Jayesh Sanghrajka will be the deputy CFO, from the same date. The tech company arm and Qatar National Bank also announced the implementation of digital banking solutions for the bank. NHPC said 520 MW power station in Himachal Pradesh would be under complete shutdown from three months with effect from Dec. 20 for repair and maintenance work. Bosch said it will close Karnataka Bidadi Plant from Dec. 28-29 due to a reduction in volumes seen, as a result of a decline in the customerâ requirement. The company said that there will be no financial impact on account of the proposed suspension of operations.
Power Finance Corporation board approved the proposal to buy Government of India entire shareholding in REC.
Entertainment Network (India) said due to a fire breakout at Common Transmission Infrastructure at Mumbai, terrestrial broadcasting has been disrupted at the company Mumbai radio station and other private broadcasters in Mumbai.
Coal India said it would pay an interim dividend of Rs 7.25 per share aggregating to Rs 4,500 crore to its shareholders with an implied dividend yield of 3 percent. The company has fixed Dec. 31 as the record date.
Indian Hume Pipe received letter of acceptance for constructions of drinking water supply projects worth Rs 502.89 crore in Andhra Pradesh for the state water supply corporation. The project will be completed within 24 months. Indiabulls Real Estate entered into an agreement with Blackstone to divest up to 50 per cent stake in two office assets in Gurugram at an aggregate value of Rs 464 crore. HT Media board approved to acquire a 25 percent stake in Next Mediaworks promoters for Rs 45.15 crore and to additionally acquire 26 per cent stake, by triggering an open offer to the public shareholders. The board also gave nod to acquire 48.6 per cent stake in Next Radio.
JSW Steel said it would infuse Rs 63.5 crore in Vardhaman Industries to pay the creditors as per the Resolution Plan by NCLT. The entire shareholding of Vardhaman Industries will be reduced by way of capital reduction and it will be delisted. Artemis Global Lifesciences received NCLT direction to conduct meetings with shareholder and creditors on Jan. 27 for the amalgamation of the company and its three arms.
CARE Ratings received the SEBI notice for the conduct of adjudication proceedings in relation to credit ratings assigned to Infrastructure Leasing & Financial Services Ltd. and one of its subsidiaries. Infrastructure Leasing & Financial Services sought expression of interests for monetization of education business and Alternative Investment Fund management business. AIF business manages assets worth Rs 13,340 crore.
Escorts Group increased its stake in Optunia Power Infrastructure from 49 per cent to 99 per cent, by acquiring 2.94 crore shares at face value of Rs 10 per share. Mercator sold vessel for $7.6 million and said that proceeds of this sale would be used to reduce debt and liabilities.
Time Technoplast received power cable-ducts orders worth Rs 150 crore from various EPC Contractors.
Mayur Uniquoters CFO Manish Kumar Dwivedi resigned from his post with effect from Dec. 19.
Tata Consultancy Services implemented payments operations solutions for Japan-based-MUFG Bank.
HCL Technologies partnered with Israel based Cloudify to bring 5G network solutions to telecom providers.
Infibeam Avenues and IBM India executed the agreement to develop, implement and promote blockchain applications to Indian clients on Linux platform. Dhanuka Agritech board determined buy-back of 13.12 per cent of equity share capital at a price of Rs 550 per share aggregating to Rs 82.5 crore. Borosil Glass Works board approved winding up of Dubai arm Borosil Afrasia FZE...
Trend in FII flows:- The FIIs were Net Value of Rs -386.44 segment while the DIIs were Net Value of 87.96 the provisional figures.
Securities in Ban For Trade Date 21-DECEMBER-2018
1.Adanipower
2.Adanient
3.Jetairways
4.Relcapital
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