Stock Market: Trade Setup for Wednesday(December 23, 2020)
Top 10 things to know before Opening Bell
Global Indices
America’s Indices
- The Dow Jones Industrial Average dropped 0.67% in Tuesday’s stock market trading. The S&P 500 index lost 0.21%. The Nasdaq composite advanced 0.51%.
Europe Indices
- European markets are mixed today. The DAX is up 1.11% while the FTSE 100 gains 0.45%. The CAC 40 is off 3.37%.
Asian Indices
- Asian markets finished broadly lower today with shares in China leading the region. The Shanghai Composite is down 1.86% while Japan’s Nikkei 225 is off 1.04% and Hong Kong’s Hang Seng is lower by 0.75%.
Indian Indices
NSE
BSE
- The BSE Sensex rallied 452.73 points to 46,006.69, while the Nifty50 climbed 137.90 points to 13,466.30 and formed a Hammer kind of pattern on the daily charts, which is a bullish reversal pattern formed after a decline.
- The broader markets gained too, as the Nifty Midcap index was up 0.85 percent and Smallcap rose 0.77 percent.
Indian Sector Indices
NSE
BSE
- All sectoral indices ended in the green, led by BSE IT which rose 3.37 percent, followed by BSE Teck and Utilities that rose 3.01 percent and 2.56 percent, respectively.
Top Gainers & Losers
Gainers
Losers
- Top gainers were Mindtree, Indraprastha Gas, HCL Technologies, Tech Mahindra, Mahanagar Gas, Infosys, Wipro, ICICI Prudential, Nestle India, Titan, Bharti Airtel, Berger Paints and Pidilite Industries while top losers were PVR, Bharat Forge and IndusInd Bank.
ADR’s and FII/DII data
ADR
F&O FII/DII (Index)
F&O FII/DII (Stocks)
Ahead of Market
InMobi’s Glance enters unicorn club after Google-led funding round
InMobi Group’s subsidiary Glance has raised a fresh round of funding of $145 million from Google and its existing investor Mithril Capital. According to sources the current round of funding has been done at a valuation of over a $1 billion turning Glance into a unicorn.
The company said it will use the funds to deepen its artificial intelligence (AI) capabilities across Glance and short-form video platform Roposo along with expanding its technology team and also launching new services on the platform. The company will also be looking at strengthening the brand and expansion across global markets.
Currently, Glance has 115 million daily active users who spend 25 minutes per day on the platform. Glance offers personalised content across entertainment, sports, fashion, news, and other content categories in multiple languages including English, Hindi, Tamil, Telugu and Bahasa on the lock screen of Android smartphones.
Manappuram Finance raises Rs 400 crore via bonds
Manappuram Finance on Tuesday said it has raised Rs 400 crore by issuing bonds on private placement basis.
The Financial Resources and Management Committee of the board of directors of the company has approved the allotment of 4,000 rated, secured, redeemable non-convertible debentures aggregating to Rs 400 crore, Manappuram Finance said in a regulatory filing.
These bonds will mature in three years and carry a coupon rate of 7.45 per cent per annum.
Shares of Manappuram Finance were trading 1.79 percent lower at Rs 159.25 apiece on the BSE.
Burger King India share gains after three sessions, ends 10% higher
Burger King India share ended almost 10% higher today amid bulk deal involving sale and purchase of shares. Share of Burger King India closed 9.64% or Rs 15.25 higher at Rs 173.45 against previous close of Rs 158.20 on BSE. The stock has gained after 3 days of consecutive fall.
Earlier, the stock opened with a gain of 3.98% at Rs 164.50. Market cap of the firm zoomed to Rs 6,619 crore on BSE. The stock touched an intraday high of Rs 174, rising 9.99% on BSE.
A week after listing of shares, the stock still stands 189% higher than its IPO issue price. On Thursday last week, the stock rose 265% higher than its issue price to Rs 219.15 in the fourth session of its listing on bourses. However, the share saw profit-booking in the same session and fell 10% to Rs 179.35 against previous close of Rs 199.25 on BSE.
Neuberg Diagnostics to invest Rs 150 crore to expand in North, East India
Neuberg Diagnostics, one of the fastest-growing lab chains, December 22 said it plans to invest Rs 150 crore for expansion in North and East India markets. The entire investment will be funded by internal accruals and debt, it said.
As part of the expansion in North and East, the company is planning set up new labs and also partner with existing labs. Neuberg has so far commissioned five labs in Delhi and Chandigarh.
Neuberg currently has 80 labs and 1,000 touchpoints and is present in India, UAE and South Africa.
The company’s Chairman and Managing Director, GSK Velu, in a recent interview, told Moneycontrol that the company will be ending FY21 with revenues of Rs 900 -1,000 crore.
Stocks in the news
Forbes & Company: The firm to sell Chandivali (Mumbai) land to GPX India and Equinix India for Rs 200 crore.
Wipro: The share buyback offer will open on December 29 and close on January 11. The company signed a strategic digital and IT deal with METRO AG.
Bajaj Auto: The company signed an MoU with the Maharashtra government to set up a manufacturing unit in Chakan and will invest Rs 650 crore.
Aster DM Healthcare: The company selected Cayman Islands to set up a Clinical Excellence hub for the Western Hemisphere.
Punjab National Bank: Life Insurance Corporation of India increased its stake in the bank to 7.73 percent from 4.12 percent via QIP.
Ravinder Heights: Serum Institute of India Pvt Ltd and PACs received 13.89 percent stake pursuant to a scheme of arrangement between the company and Panacea Biotec.
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