Indian Indices: A move above 10,950 can be a new uptrend for nifty.
Global Market:
· Asian markets: Asian markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 1.23% while the Hang Seng is down 0.91%. The Shanghai Composite is not trading.
· US Markets: Dow falls another 500 points, extending worst start to a December in 38 years.
· European markets: European markets finished broadly lower today with shares in France leading the region. The CAC 40 is down 1.11% while London's FTSE 100 is off 1.05% and Germany's DAX is lower by 0.86%.
· Major Headlines of the day:
· Stocks To Watch
· Karnataka State Pollution Control Board renewed the consent to operate for Graphite India’s electrode plant in Bengaluru for a period up to June 30, 2020 only with the condition to shift the unit from the existing location. The company said that this condition will not have adverse impact on the production capacity of the graphite electrode division in the medium term and long-term horizon.
· Tata Steel and ThyssenKrupp AG’s European joint venture will be headed by the latter’s steel division chief Andreas Goss, who will also chair the management board. Hans Fischer, the current chief executive officer of Tata Steel Europe, will be the deputy chief executive officer and chief technology officer of the new entity. It also announced the elevation of Tata Steel’s Group Executive Vice President Sandip Biswas as the designated chief financial officer, and the ThyssenKrupp's steel business’ Chief Financial Officer Premal Desai as the chief strategy officer of the new partnership which will be headquartered in Amsterdam.
· Tata Motors-Jaguar Land Rover hired Boston Consulting Group for $3.2 billion turnaround plan, the spokesperson of JLR worker’s representative body Unite Union said. He added that the workers had not been informed of any job reductions in January next year and do not expect any, as they have to be given at least 45 days of notice. (Bloomberg News)
· Bombay Dyeing and Manufacturing Company’s board approved closure of loss-making Indonesian arm from Dec. 31.
· Sadbhav Infrastructure and its parent company Sadbhav Engineering arrived at an amicable settlement with Montecarlo Limited with the help of settlement of litigation. Both, NCLT and Gujarat High Court, disposed the matter and accordingly the legal matters now stands closed.
· Jet Airways said that as per directions of State Bank of India, forensic audit of specific transactions of the company for the period of April 2014 to March 2018 was already in progress and the aviation company is co-operating fully with auditors and providing them all the information.
· Ashoka Buildcon board approved to raise Rs 150 crore via non-convertible debentures. Company’s arm also raised Rs 150 crore from Morgan Stanley India Infrastructure for city gas distribution.
· NMDC revised prices of lump ore at Rs 3,250 per ton and fines ore at Rs 2,860 per month with effect from Dec. 13.
· IL&FS said it was looking to sell 22 assets and businesses in its domestic roads vertical to seek expressions of interest for road projects. The company appointed Arpwood Capital and JM Financial as financial and transaction advisers. Alvarez & Marsal to act as resolution consultants.
· Punjab & Sind Bank revised its MCLR across various tenors. One month MCLR is at 8.2 percent and one year MCLR at 8.85 percent..
· Trend in FII flows:- The FIIs were Net Value of Rs -60.95 segment while the DIIs were Net Value of -76.84 the provisional figures.
Securities in Ban For Trade Date 18-DECEMBER-2018
1.Adanient
2.Adanipower
3.Jetairways
4.Relcapital
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
