The outlook is a flat start. The indices could soften later in the day depending on the global cues. Most Asian markets are in a range and slightly lower. Japan's Nikkei is marginally down while China's Shanghai Composite has lost a quarter percent. South Korea's Kospi had shed nearly half a percent. Overnight, the US indices ended higher.
The Christmas week seems to have brought some joy with indices racing ahead on Monday. The gains may have managed to wipe out Friday’s losses but a Santa Claus rally remains a fantasy in the holiday shortened week. With a day to go for Parliament ‘s Winter session to get over, nothing much can really be expected. On Monday, the government moved the Insolvency and Bankruptcy Code, 2015 in the Lok Sabha. This will help resolve corporate bankruptcy issues in a time-bound manner while ensuring stakeholder interests are protected and assets are put to use quickly.
The outlook is a flat start. The indices could soften later in the day depending on the global cues. Most Asian markets are in a range and slightly lower. Japan's Nikkei is marginally down while China's Shanghai Composite has lost a quarter percent. South Korea's Kospi had shed nearly half a percent. Overnight, the US indices ended higher.
Narayana Hrudayalaya IPO was oversubscribed 8.41 times. The Qualified Institutional Buyers(QIBs) bid for 8,44,63,620 shares out of the basket of 49,04,660 shares, thus oversubscribing by 17.22 times.
The Finance Ministry has cut its ambitious disinvestment revenue target by 57% to Rs.30,000 crore for the current fiscal year. Despite missing targets in the past five years, the Centre had set an ambitious disinvestment revenue target of INR 69,500 crore (INR 41,000 crore through PSU stake sales and INR 28,500 crore via strategic stake sales) for FY16. But, strategic stake sales failed to take off and minority stake sales in PSUs also came to a halt after initial promise due to volatile markets, according to a financial newspaper.
State Bank of India: SBI is planning to raise Rs.12,000 crore through private placement of tier-II bonds in tranches.
Adani Enterprises: Adani Green Energy Limited (AGEL), a subsidiary of the Company, has acquired 100% Equity Shares of Duryodhana Developers.
Nestle India: Nestle India reportedly said it will launch other variants of the brand such as oats noodles and cup noodles in 3-4 months.
Tata Power: Tata Power has completed its tie-up of power through Long term PPA with the commencement of power flow to Kerala State Electricity Board.
Tata Consultancy Services: TCS launched Comprehensive Inventory Management system to assist Mumbai Mobile Creches.
NBCC: The All India Institute of Medical Sciences (AIIMS) has inked an MoU with the National Buildings Constructions Corporation Ltd (NBCC) to build the second phase of the existing trauma centre of the institution.
Eon Electric: Eon Electric has reached yet another milestone by securing an extension to the ongoing LED streetlights installation project. As part of the extended project, Eon will be installing additional 33,153 LED streetlights in the city.
Glenmark Pharmaceuticals: Glenmark Pharmaceuticals has entered into a Settlement Agreement with Forest Laboratories, LLC, Forest Laboratories Holdings, Ltd., and Royalty Pharma Collection Trust to settle and dismiss the outstanding patent litigation related to Glenmark’s Abbreviated New Drug Application for Milnacipran Hydrochloride 12.5 milligram, 25 milligram, 50 milligram, and 100 milligram tablets, the generic version of Forest’s Savella.
HDIL: HDIL has sold 850,000 square feet of development rights in Kurla to a company belonging to the Mumbai-based Wadhawan Group for Rs. 649 crore, as per media reports.
SpiceJet: Budget carrier SpiceJet has reported a seat factor of above 90 per cent in November, according to DGCA data.
Godrej Industries: Godrej Agrovet Limited (GAVL), a subsidiary of Godrej Industries Ltd, announced acquisition of controlling stake in Creamline Dairy Products Ltd (Creamline).
Allahabad Bank: The bank has announced that the Bank has successfully raised BASEL III compliant Tier 2 Bonds aggregating to Rs. 1,000 crore through Private Placement.
Rolta India: Rolta India said that its Wholly Owned Subsidiary Company, Rolta Americas LLC, USA (Subsidiary) has bought back via open market repurchase transaction US$ 5,650,000 in-principal out of the outstanding US$ 373,345,000 8.875% senior notes due 2019 (The Bonds) and cancelled these Bonds purchased by the Subsidiary.
Reliance Communications: Reliance Communications is selling nearly 150 residential flats situated at Sea Woods complex in Navi Mumbai.
Thomas Cook: Thomas Cook has announced a strategic partnership with ItzCash to extend its outreach to India’s rapidly growing unbanked inward remittance market, by offering remittance services (Xpress Money & MoneyGram) across an extensive network of over 75000+ touch points, pan India.
Cipla: Cipla announced the launch of generic version of anti-hepatitis drug Ledipasvir-Sofosbuvir in the domestic market. The drug is used for treating hepatitis C virus.
The proposed 1% additional tax on inter-state sales is against the spirit of Goods and Services Tax (GST) and that should not be implemented, former RBI Governor C Rangarajan reportedly said.
Despite government’s strict norms that prohibit children under 13 from joining the social-networking site, nearly 76% of children ages 7 to 13 visit ‘YouTube’ daily in tier-I & tier-II cities which can lead to negative outcomes such as cyber bullying and online sexual abuse, reveals the ASSOCHAM latest survey.
Sun Pharma slipped 4.6% to Rs. 754.45 on BSE. The pharma company received a Warning Letter from the US FDA as a result of the September 2014 inspection, for its facility located at Halol, Gujarat in India.
IVRCL soared 4.8% to Rs. 9.63 on BSE. The company said that while the EPC company will have working capital and current assets, the BOT company will have land and other long term assets. The proposal will have to be approved by the joint lenders forum, and the high courts of Telangana and Andhra Pradesh among others.
Gammon India galloped 9.9% to Rs.16.65 on BSE. Lenders to Gammon India Ltd. will convert Rs. 245 crore worth of debt to a 60.10% equity stake under the strategic debt restructuring (SDR) norms. The company said in a stock exchange filing on Friday that a 12-member consortium, led by ICICI Bank, will convert part of its debt to majority equity at Rs. 11.89 per share. The conversion under SDR is done at fair value - which is lower than market price, or book value, or face value, whichever is higher.
InterGlobe Aviation slumped 5.6% to Rs.1,079 on BSE. the company said the delivery of the Airbus A320 neo has been delayed and there could be additional delays, citing “industrial reasons” at European plane maker Airbus SAS.
MBL Infrastructures rallied 1.4% to Rs. 218.30 after the company was awarded the project of 'Rehabilitation and Upgradation from Jabalpur to Hiran River Section of NH-12 to four-lanes with payed shoulders configuration from km 10.4000 to km 66.000 (Design length 55.600 kms) in the State of Madhya Pradesh under NHDP III through Engineering, Procurement & Construction Basis Contract for a contract price of Rs 414.75 crore from Ministry of Road Transport & Highways. The execution period of the project is 24 months from the appointed date.
Kesoram Industries climbed 4.9% to Rs. 115 on BSE. The board approved the company's proposal to raise up to Rs. 650 crore through qualified institutional placement. The board has also given the approval to dispose off the company's spun pipe and the heavy chemicals units located in West Bengal.
Jubilant Life Sciences gained 2% to Rs.428. The Reserve Bank of India has allowed foreign investors to pick up to 45% in Jubilant Life Sciences under the portfolio investment scheme.
Glenmark Pharmaceuticals climbed 1.6% to Rs.927 after the pharma company has entered into a Settlement Agreement with Forest Laboratories, LLC, Forest Laboratories Holdings, Ltd., and Royalty Pharma Collection Trust to settle and dismiss the outstanding patent litigation related to Glenmark’s Abbreviated New Drug Application for Milnacipran Hydrochloride 12.5 milligram, 25 milligram, 50 milligram, and 100 milligram tablets, the generic version of Forest’s Savella.
Shares of NHPC are closed up 3.2% at Rs. 20.45 after its Sewa-II Power Station which was under complete shutdown for Annual Maintenance of Machines / MIVs has started generation on December 18, 2015.
United Breweries gained 1% to Rs. 932 on BSE. According to media reports, the company has hiked beer prices by 5%.
Diamond Power Infrastructure rallied 2.9% to Rs.45. The company has received an order for supply of 11 KV, 3 CX185 & 3CX120 HT XLPE Insulated Armoured Shielded PVC sheathed Power Cable from Jaipur Vidyut Vitran Nigam, vide award no JPD/SE (PROC)/SPO-I/TN -4522/D.3671. The company said in a notice to BSE that its board approved selling its entire holding in Maktel. The company also said that its arm allotted Rs 23.95 crore to the strategic investors on preferential basis.
Mahindra & Mahindra stocks closed up 2.6% to Rs. 1,277 on BSE. The automaker will launch a series of compact petrol engines in the near future, even as its mainstay diesel line-up faces an uncertain future in the wake of SC order on pollution curb in Delhi. The company on Friday unveiled its new sports utility vehicle (SUV) christened the KUV1OO to be sold in petrol and diesel options. Bookings are now open for the vehicle.
Global Data: Gfk Consumer Confidence (Dec) GBP, CB Leading Economic Index (Nov) CNY, Import Price Index (MoM) (Nov) EUR, Import Price Index (YoY) (Nov) EUR, Gfk Consumer Confidence Survey (Jan) EUR, Trade Balance (Nov) CHF, Exports (MoM) (Nov) CHF, Imports (MoM) (Nov) CHF, Trade Balance non-EU (Nov)Preliminar EUR, Public Sector Net Borrowing (Oct) GBP, Gross Domestic Product Price Index (Q3) USD, Gross Domestic Product Annualized (Q3) USD, Personal Consumption Expenditures Prices (QoQ) (Q3) USD, Core Personal Consumption Expenditures (QoQ) (Q3) USD, Redbook index (MoM) (Dec 18) USD, Redbook index (YoY) (Dec 18) USD, Housing Price Index (MoM) (Oct) USD, Existing Home Sales (MoM) (Nov) USD, Existing Home Sales Change (MoM) (Nov) USD, Richmond Fed Manufacturing Index (Dec) USD, 4-Week Bill Auction USD, Trade Balance (MoM) (Nov)NZD, Imports (Nov) NZD, Trade Balance (YoY) (Nov) NZD, Exports (Nov) NZD
Trends in FII flows: The FIIs were net buyers of Rs. 373.7mn in the cash segment on Monday. The domestic institutional investors (DIIs) were net buyers of Rs. 627 mn as per the provisional figures released by the NSE.
Other news of the day:
Cipla announced the launch of generic version of anti-hepatitis drug Ledipasvir-Sofosbuvir in the domestic market. The drug is used for treating hepatitis C virus.
Reliance Communications has sold about 150 residential flats in Navi Mumbai for Rs3.3bn. RCom has already received more than 50% of the sale proceeds and the balance amount will be realized in the next 2-3 months.
SpiceJet has, for the seventh consecutive month, reported a seat factor of above 90% in November. As against this, rival IndiGo recorded a seat factor of 83.9% in November while Air India saw its seat factor increasing to 81.7% as compared with 74.6% in October.
Sania Mirza has been roped in as a celebrity endorser for Kesh King, the leading ayurvedic hair care brand owned by Emami Ltd.
Godrej Agrovet has acquired an additional 25% stake in Hyderabad-based Creamline Dairy at an enterprise value of about Rs5.5bn, taking its total holding in the dairy firm to 51%.
Drug firm Strides Shasun has received approval from the Drug Controller General of India (DCGI) to produce a generic version of Gilead's 'Sovaldi' used for treatment of Hepatitis C.
Devendra Fadnavis handed over an “offer letter” allocating 500 acres of land in Amravati district to Raymond Group for setting up a Rs15bn textile unit in Vidarbha.
Jindal Steel and Power will resume mining coal from two of its stalled projects in Australia as it expects to get regulatory clearances from Canberra soon. The firm had to suspend operations at its Russell Vale Colliery in September because of regulatory issues. Wongawilli Colliery was shut for maintenance in August but it now needs government approvals to restart mining.
State Bank of India said it plans to raise up to Rs120bn by issuing tier-II bonds on private placement basis.
After the recommendations of the 14th Finance Commission, the tax devolution to Bihar rose by 16.5% to Rs664bn.
The Ministry of Road, Transport and Highways has fast-tracked the award of three highway projects under the Hybrid Annuity Model (HAM) to the end of December 2015. The three projects are the Meerut-Bulandshahr (61.19 km) stretch, package-I of the Delhi Meerut Expressway (49.40 km) — Nizamuddin-UP border(8.7 km) stretch — and package-III — Dasna-Hapur section (22.27 km). (BS)
India is re-negotiating the terms of long-term gas contract with Qatar to reflect the slump in global energy rates but no binding agreement has been signed so far, Oil Minister Dharmendra Pradhan said. Officials said the revised price has been in-principle agreed between the two and will help cut the rate by about half to $6-7 per million British thermal unit. (ET)
TEN MOST ACTIVE FUTURES
| Symbol |
No.of Cont Traded
|
Last price
|
Open Interest
|
% chg in Op.Int
|
| SUNPHARMA |
23,886
|
754.60
|
14,437,800
|
-0.02
|
| ICICIBANK |
15,497
|
257.25
|
53,369,800
|
-4.89
|
| AXISBANK |
14,691
|
442.90
|
42,332,000
|
-3.96
|
| SBIN |
10,857
|
230.95
|
69,552,000
|
-2.03
|
| TATASTEEL |
9,550
|
258.20
|
30,606,000
|
-0.40
|
| KSCL |
6,691
|
353.30
|
2,730,750
|
46.28
|
| TATAMOTORS |
6,281
|
381.60
|
28,108,500
|
-4.56
|
| LT |
6,049
|
1,294.25
|
12,209,700
|
-0.87
|
| AUROPHARMA |
5,988
|
838.45
|
15,364,300
|
-8.52
|
| HDFCBANK |
5,922
|
1,075.80
|
20,090,000
|
-1.63
|
TEN MOST ACTIVE OPTIONS
Option Type
|
Strike price
|
No.of Cont Traded
|
Open Interest
|
% Chg in Op.In
| |
| SUNPHARMA |
CE
|
760
|
3,908
|
476,400
|
166.44
|
| SUNPHARMA |
PE
|
740
|
3,584
|
706,200
|
136.82
|
| SUNPHARMA |
PE
|
700
|
3,473
|
826,200
|
92.59
|
| SUNPHARMA |
CE
|
780
|
2,884
|
569,400
|
260.84
|
| RELIANCE |
CE
|
1,000
|
2,802
|
1,393,500
|
9.34
|
| ICICIBANK |
CE
|
260
|
2,727
|
4,250,000
|
-17.52
|
| SBIN |
CE
|
240
|
2,686
|
4,978,000
|
-7.09
|
| AXISBANK |
CE
|
440
|
2,465
|
1,705,000
|
0.83
|
| SUNPHARMA |
CE
|
800
|
2,368
|
747,600
|
34.56
|
| AXISBANK |
CE
|
450
|
2,352
|
2,126,000
|
-13.96
|
SUPPORT & RESISTANCE LEVEL
| Company Name |
S3
|
S2
|
S1
|
Close
|
R1
|
R2
|
R3
|
| Sensex Index |
25,509
|
25,564
|
25,622
|
25,736
|
25,850
|
25,908
|
25,963
|
| Nifty Index |
7,764
|
7,781
|
7,799
|
7,834
|
7,870
|
7,888
|
7,905
|
| ABB Ltd |
1,124
|
1,128
|
1,133
|
1,142
|
1,150
|
1,155
|
1,159
|
| ACC |
1,341
|
1,344
|
1,346
|
1,351
|
1,356
|
1,359
|
1,361
|
| Ambuja Cements |
198
|
199
|
199
|
201
|
202
|
203
|
203
|
| Bajaj Holdings |
1,698
|
1,702
|
1,706
|
1,715
|
1,724
|
1,728
|
1,733
|
| BHEL |
166
|
166
|
166
|
167
|
168
|
168
|
169
|
| Bharti Airte |
317
|
318
|
319
|
321
|
323
|
324
|
325
|
| Cipla |
638
|
639
|
640
|
643
|
646
|
647
|
649
|
| Dabur India |
274
|
275
|
276
|
278
|
280
|
281
|
282
|
| GAIL India |
332
|
333
|
334
|
337
|
339
|
340
|
342
|
| Grasim Ind. |
3,684
|
3,688
|
3,692
|
3,701
|
3,709
|
3,714
|
3,718
|
| HCL Tech |
846
|
848
|
850
|
855
|
859
|
861
|
863
|
| HDFC Bank |
1,068
|
1,070
|
1,072
|
1,075
|
1,078
|
1,080
|
1,081
|
| Hero Honda |
2,651
|
2,662
|
2,673
|
2,696
|
2,718
|
2,730
|
2,741
|
| Hindalco |
80
|
81
|
81
|
81
|
82
|
82
|
82
|
| Hindustan Unilever |
846
|
847
|
849
|
852
|
855
|
857
|
858
|
| ICICI Bank |
252
|
254
|
255
|
258
|
261
|
263
|
264
|
| Infosys Tech |
1,080
|
1,085
|
1,091
|
1,102
|
1,113
|
1,119
|
1,124
|
| ITC Ltd |
319
|
321
|
322
|
326
|
329
|
331
|
332
|
| L&T |
1,281
|
1,283
|
1,286
|
1,290
|
1,294
|
1,296
|
1,298
|
| MTNL |
21
|
22
|
22
|
22
|
23
|
23
|
23
|
| M&M |
1,249
|
1,256
|
1,263
|
1,277
|
1,291
|
1,298
|
1,305
|
| Maruti Suzuki |
4,604
|
4,613
|
4,622
|
4,640
|
4,657
|
4,667
|
4,675
|
| Mahindra Satyam |
515
|
517
|
518
|
521
|
524
|
526
|
528
|
| National Alumin |
42
|
43
|
43
|
44
|
45
|
46
|
46
|
| ONGC |
224
|
226
|
227
|
230
|
233
|
235
|
236
|
| Oriental Bank |
139
|
139
|
140
|
141
|
142
|
142
|
143
|
| PNB |
122
|
122
|
122
|
123
|
123
|
123
|
124
|
| Ranbaxy Labs |
738
|
742
|
746
|
754
|
763
|
767
|
771
|
| Reliance Capital |
401
|
403
|
404
|
408
|
411
|
412
|
414
|
| Reliance Comm |
83
|
83
|
83
|
84
|
84
|
85
|
85
|
| Reliance Energy |
448
|
449
|
451
|
454
|
457
|
459
|
461
|
| Reliance Inds |
984
|
986
|
988
|
992
|
997
|
999
|
1,001
|
| R Power |
51
|
52
|
52
|
53
|
53
|
53
|
54
|
| Siemens India |
1,162
|
1,165
|
1,168
|
1,175
|
1,181
|
1,185
|
1,188
|
| SBI |
228
|
228
|
229
|
230
|
232
|
233
|
233
|
| TCS |
2,414
|
2,421
|
2,428
|
2,441
|
2,454
|
2,461
|
2,468
|
| Tata Motors |
377
|
378
|
379
|
380
|
382
|
383
|
383
|
| Tata Power |
64
|
64
|
65
|
65
|
65
|
65
|
66
|
| Tata Steel |
254
|
255
|
256
|
259
|
261
|
262
|
263
|
| Tata comm |
413
|
415
|
417
|
421
|
425
|
428
|
430
|
| Wipro |
550
|
551
|
553
|
556
|
559
|
561
|
562
|
| Wire And Wireless |
33
|
33
|
33
|
33
|
34
|
34
|
34
|
| Zee Entertainment |
413
|
414
|
415
|
417
|
418
|
419
|
420
|
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