Stock Market: Trade Setup for Thursday(Dec 31, 2020)

Top 10 things to know before Opening Bell

Smriti Singh

Published in

Dstreet Games

6 min readDec 30, 2020

Europe Indices

・European markets finished mixed as of the most recent closing prices. The CAC 40 gained 0.42%, while the FTSE 100 led the DAX lower. They fell 0.71% and 0.31% respectively.

Asian Indices

Asian markets finished mixed as of the most recent closing prices. The Hang Seng gained 2.18% and the Shanghai Composite rose 1.05%. The Nikkei 225 lost 0.45%.

Indian Indices

NSE

BSE

the Sensex ended the day 133 points higher at 47,746 and the Nifty gained 49 points at 13,982.

Indian Sector Indices

NSE

BSE

Sectorally, action was seen in auto, realty, metal, consumer discretionary, and consumer durable stocks, while profit-booking was seen in telecom, IT, and healthcare stocks.

Top Gainers & Losers

Gainers

Losers

Positive setup was seen in SAIL, UltraTech Cement, Balkrishna Industries, UPL, Grasim, Bajaj Finance, ACC, Eicher Motors, Maruti Suzuki, DLF, Dabur, Godrej Consumer Products, Tech Mahindra, Tata Steel, Asian Paints and Kotak Mahindra Bank, while weakness was seen in PNB, REC, Marico and Bharat Forge

ADR’s and FII/DII data

ADR

Cash FII/DII

F&O FII/DII (Index)

F&O FII/DII (Stocks)

Ahead of Market

RIL completes IMG Worldwide LLC’s stake acquisition in sports management JV

Reliance Industries Ltd has completed acquisition of IMG Worldwide LLC’s stake in their sports management joint venture IMG Reliance Ltd (IMG-R). “The company has, on December 28, 2020, completed the acquisition of equity shares of IMGR. Accordingly, IMG-R has become a wholly-owned subsidiary of the company,” Reliance Industries said in a regulatory filing.

Last week, Reliance Industries Ltd (RIL) announced it will buy out IMG Worldwide LLC from their sports management joint venture (JV) for Rs 52.08 crore. The nation’s biggest company by market value, in a stock exchange filing, had said it will buy IMG Worldwide’s 50 per cent stake in IMG-Reliance Ltd (IMG-R) for no more than Rs 52.08 crore in cash.

IMG-R had a turnover of Rs 181.70 crore (including GST of Rs 25.79 crore) and a net profit of Rs 16.35 crore in FY20.

RIL shares were trading down 0.49 per cent at 1,979.40 in early session on BSE.

Yes Bank appoints Niranjan Banodkar as new CFO

Yes Bank, on Wednesday December 30, announced senior management change wherein the private sector lender said that it has appointed Niranjan Banodkar as its Group Chief Financial Officer (CFO) with effect from January 1, 2021.

He will supersede Anurag Adlakha, who has been designated as the Chief Human Resources Officer (CHRO), the bank said in a regulatory filing.

Banodkar comes with 17 years of experience in Banking in financial planning and strategy, risk management and capital markets. He is presently responsible for driving the sustainability agenda as well as the strategy and planning function at the bank. Banodkar started working with Yes Bank in April 2006 and was a key member in setting up the Market Risk function, the bank said.

Jindal Stainless Hisar to be merged with JSL via share swap

Jindal Stainless (Hisar) Limited (JSHL) will be merged into Jindal Stainless Limited (JSL) in a share swap ratio of 1:1.95, subject to approvals from statutory authorities, shareholders, creditors, and NCLT. As per the approved share swap ratio, 195 equity shares of JSL will be issued for every 100 equity shares of JSHL.

As per the company, the merged entity will enter the league of top 10 stainless steel companies in the world with stainless steel melt production capacity of 1.9 million tonnes per annum (MTP). Besides, it will also induce a simplified capital structure, expanding the turnover of the merged business to around Rs 20,000 crore.

Ahead of the announcement, shares of Jindal Stainless ended day’s trade at Rs 80.05, up 0.19 per cent, against previous closing price of Rs 80.05 on the BSE.

Astrazeneca Pharma share rises 5% after UK approves Covishield vaccine

Astrazeneca Pharma share rose over 5% in trade today after the UK government accepted recommendation from the Medicines and Healthcare Regulatory Agency (MHRA) to authorise Oxford University-AstraZeneca’s Covid-19 vaccine, named Covishield, for emergency use. Astrazeneca Pharma stock touched an intraday high of Rs 4,770, rising 5.09% against previous close of Rs 4,539 on BSE.

The stock has gained 11.42% in the last five days. Astrazeneca Pharma share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

Later, the share closed 2.56% or Rs 116 higher at Rs 4,655 against previous close of Rs 4,539 on BSE.

Market cap of the firm rose to Rs 11,637 crore on BSE. The vaccine developed by the Oxford University has shown 70 per cent efficacy, which can rise to 90 per cent under certain conditions. In India, the vaccine is being manufactured by Serum Institute of India.

Ansal Properties to sell full 66% stake in IT SEZ project at Greater Noida

Realty firm Ansal Properties & Infrastructure Ltd on Wednesday said the company has agreed to sell its entire 66.24 per cent stake in IT SEZ in Greater Noida to Migsun group. In a regulatory filing, Ansal Properties said the company has entered into an agreement to sell its entire shareholding of 66.24 per cent held in its subsidiary firm Ansal IT City and Parks Ltd, which owns IT Park of 37.5 acres of land at Greater Noida to Mahaluxmi Infrahome, part of Migsun Group.

The deal is subject to the approval of regulatory authorities of SEZ, Greater Noida Industrial Development Authority, and the Ministry of Commerce. “This will reduce the debt of the company on a consolidated basis by Rs 11 crore. Further, the company in this calendar year 2020 on a consolidated basis has reduced its debts/liabilities towards banks/financial institutions etc by approx Rs 500 crore,” the filing said.

Union Bank of India gets shareholders nod to raise up to Rs 6,800 crore

Shareholders of Union Bank of India on Wednesday approved the bank’s proposal for raising up to Rs 6,800 crore equity capital to fund business growth.

During the Extraordinary General Meeting (EGM), the shareholders passed the special resolution with the requisite majority for raising capital through FPO (Follow-on Public Offering) /Rights or QIP (Qualified Institutional Placement) or preferential allotment, the bank said in a regulatory filing.

It would raise the fund during the current fiscal.

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