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Benchmark indices wiped off morning gains and plunged to close lower for the second day on Monday amid concerns over rising cases of Omicron virus in Europe and surging inflation across the world. The 30-share pack Sensex declined 503.25 points or 0.86 per cent to close at 58,283.42. The index plunged over 900 points from day’s high. Its broader peer NSE Nifty dropped 143.05 points or 0.82 per cent to 17,368.25. Equity investors were left poorer by Rs 1.06 lakh crore by the end of the day. Stocks from sectors, barring some IT names, saw selling. Bank and financial names were among the biggest drags.
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MapmyIndia IPO subscribed 154.7 times on final day
On the third and final day of the bidding process, the Rs 1,039.61-crore initial public offer (IPO) of CE Info Systems (MapmyIndia) is witnessing a strong response from investors. The issue was subscribed 154.7 times at 5:00 pm on Friday, thanks to strong buying from all categories of investors. It saw applications for 1,08,98,95,450 shares against the issue size of 70,44,762 shares, the data from BSE suggested.
JK Paper issued NCDs worth Rs 125 crore
JK Paper Ltd on Monday said it has issued 12,500 non-convertible debentures (NCDs) to raise Rs 125 crore from the market on a private placement basis. This is in accordance with the company’s plan to raise Rs 260 crore from the market through NCDs, as informed by it earlier on October 29, 2020, the JK Organisation group firm said in a regulatory filing.
Amazon-backed grocer More Retail weighing India IPO at $5 billion value
More Retail Pvt., an Indian grocery chain backed by Amazon.com Inc., is considering an initial public offering that could value the company at as much as $5 billion, according to people with knowledge of the matter. The company is weighing a first-time share sale in Mumbai as early as June, the people said, asking not to be identified as the information isn’t public. More Retail could raise as much as $500 million in a listing, which would consist largely of new shares, one of the peopl said.
“We expect liquidity issues in the market for the coming days, majorly due to several upcoming IPOs. The current market is stock-specific, and short-term traders should keep booking profit at each rising level. It is also advised to remain cautious and follow strict stop loss. Investors have every opportunity to enter with each correction. Sector in focus on Tuesday – Banks, IT, Metals and Automobiles.”
– Rahul Sharma, Co-Founder, Equity99
JUST IN: BPCL to collaborate with BARC for producing green hydrogen
> Have plans to expand renewable energy portfolio: BPCL (Source: Agencies)
Markets are currently dealing with mixed cues. At one end, the encouraging updates on the new COVID variant have eased some pressure however caution ahead of the US Fed meet amid the inflation woes is keeping the participants on the edge. In the current scenario, it’s prudent to restrict leveraged positions and let the markets stabilise.
– Ajit Mishra, VP – Research, Religare Broking
JUST IN: Sebi approves Emcure Pharma’s IPO plan (Source: Agencies)
Nandan Terry files Rs 255 crore IPO papers with Sebi
Nandan Terry, part of the Chiripal group, has filed preliminary documents with markets regulator Sebi to raise Rs 255 crore through an initial public offering (IPO). The proceeds of the public issue will be used for payment of debt, for funding working capital requirements and general corporate proposes, according to the draft red herring prospectus (DRHP). The company may consider to raise Rs 40 crore through a pre-IPO placement. If pre-IPO round is undertaken, the issue size will be reduced.
Wipro expands sports, entertainment, retail and transport offerings with launch of Wipro VisionEDGE Solution
Ahead of the release of domestic inflation data and key global central bank meetings, the benchmark indices dived into the negative zone digesting weak macroeconomic numbers and continued FII selling. India’s Index of Industrial Production grew by 3.2% in October, which was lower than market expectations. The US CPI inflation was above expected lines at 6.8% YoY in November, owing to rising food, energy and shelter prices. Given the rising global inflation, the policy outcome of key central bank meetings especially the US Fed and European Central Bank, will be keenly monitored by the markets to determine its trends.
– Vinod Nair, Head of Research at Geojit Financial Services
SEC (Subject Expert Committee) has give go ahead to SII to conduct booster dose trial on Indians
– SEC analysed SIIs application
Tech View: Nifty forms bearish candle on daily chart
— Rohit Singre, Senior Technical Analyst at LKP Securities
Advance-decline ratio on BSE favours gainers
BSE SMALLCAP ends higher
VIX rises over 3% to above 16.5
Sector Watch: IT only sectoral gainer on NSE
CLOSING BELL: RIL, Bajaj twins drive Sensex 503 pts down; Nifty slips below 17,400; Voda Idea, IDBI Bank 5% each
Top 5 losers on NSE in closing trade
Price as on 13 Dec, 2021 03:18 PM, Click on company names for their live prices.
Volatility gauge India VIX rises 2.25% to 16.42
Gold, silver spot prices
Where it matters, we are number one. We are number one in terms of sales per square foot, sales per store and everything else. If everything goes well, the gap with Apollo will be significantly bridged in the next two to two and a half years.
– Gangadi Madhukar Reddy, MD & CEO, MedPlus Health
European shares gain ahead of big week for central banks
European shares inched higher on Monday, lifted by economically sensitive sectors, ahead of monetary policy decisions by some of the world’s largest central banks that could potentially include an early end to U.S. policy stimulus. The pan-European benchmark STOXX 600 was up 0.3% at 476.88 points, as of 0826 GMT. Asian stocks tracked Wall Street gains after U.S. inflation data, which was well within market expectations, sent the S&P 500 to all-time high on Friday.
Greenlam announces a stock split — company to issue 5 shares for every 1 held. Stock up over 1%
Price as on 13 Dec, 2021 02:05 PM, Click on company names for their live prices.
Global Market Update: Britain’s FTSE 100 index is seen opening higher on Monday with futures up 0.15%.
IPO CHECK: MedPlus IPO subscribed 40% so far on Day 1
Shriram Group announces amalgamation of Shriram City Union with Shriram Transport
Price as on 13 Dec, 2021 01:27 PM, Click on company names for their live prices.
Sensex tanks over 650 points from day’s high
Price as on 13 Dec, 2021 01:15 PM, Click on company names for their live prices.
Nifty hovers around 17,450; Bajaj twins top losers, RIL down over 1%
Sensex Heatmap: Top gainers & losers from the 30-pack index
Top Sensex drags in early afternoon session: RIL, Bajaj twins
Emkay initiates coverage on Star Health with BUY
- We initiate coverage on STAR HEALTH with a Buy rating and a Mar’23 TP of Rs 1,135 (+25% upside). Our TP implies a valuation multiple of 47x FY25E EPS and a FY25 P/GWP of 2.9x. Our high-conviction Buy on Star Health is underpinned by three factors:
- Health insurance industry is still in its infancy – we expect heady growth rates of ~20% in the next decade
- Star Health’s dominant market share (>3x nearest competitor) in the sticky retail sector offers network effects – trio of hospitals, customers and agents feed off each other in a virtuous cycle. Sub-scale competitors will struggle to outdo this moat
- We expect margin gains with scale. We estimate Star Health’s GWP to see a 25% CAGR through FY25. Unit economics are extremely favorable – we expect ROE of 18%+ as claims normalize in a 66-67% band (after Covid-19 hump), capping combined ratio at 94-95%.
- We apply a DCF model to arrive at our Mar’23E TP of Rs1,135. We are of the view that investors should not be deterred by high valuations, which are rightfully anchored to STARHEALTH’s nearly unassailable position in a high-growth industry.
TVS Motor Company joins Zoho Corporation to invest in Ultraviolette
Ultraviolette Automotive Pvt. Ltd., an innovator in sustainable mobility, today announced that it has raised a new round of capital in its Series C funding, led by TVS Motor Company. Zoho Corporation has joined this round along with TVS Motor, to support Ultraviolette’s vision of developing high performance mobility solutions for India and global markets. TVS Motor Company, which has been an early backer of the company, has led the investment in this roun. Investment to be deployed for production and commercial launch of the F77.
Nifty Media tanks over 1.5%
ITC logs 5th day of gains ahead of analyst meet
Shares of cigarette maker ITC continued to climb higher for the fifth consecutive session on Monday ahead of its much awaited first-ever analyst and institutional investor meet scheduled during the week. The stock added about a per cent to Rs 238 on BSE. It has advanced nearly 9 per cent in the last five sessions, data shows.
MARKET CHECK: Sensex off day’s high, slips below 59K
Paytm GMV more than doubles to Rs 1.66 lakh crore in Oct-Nov 2021 period
Digital payments and financial services firm Paytm on Monday reported over two-fold rise in its gross merchandise value to about Rs 1,66,600 crore in the first two months of the third quarter of this fiscal, driven by sharp uptick in loan disbursals.
Top 10 gainers in late morning session
Price as on 13 Dec, 2021 11:30 AM, Click on company names for their live prices.
India VIX eases over 2% to below 16 level
IPO Update: MapmyIndia subscribed over 8x so far; issue closes today
Network18 Media sees profitbooking after surging over 50% last week
Price as on 13 Dec, 2021 10:36 AM, Click on company names for their live prices.
Rupee gains 15 paise to 75.63 against US dollar in early trade
The rupee appreciated 15 paise to 75.63 against the US dollar in opening trade on Monday, tracking a positive trend in domestic equities. However, surging crude prices in the international market and unabated foreign capital outflows capped the appreciation bias in the local unit, traders said.
MedPlus Health IPO opens for subscription. Should you subscribe?
Medplus, with its clustered store presence, was well suited to leverage on an omnichannel platform with a hyperlocal delivery model, said ICICIDirect. “At the upper price band, it is valued at ~43.9x EV/EBITDA and ~3.1x EV/Sales for FY21. We assign a subscribe rating given its unique model and decent valuation,” it added. The company is predominantly a brick-and-mortar retail pharmacy with a relatively smaller presence on omnichannel.
Gravita today announced operationalization of its new Battery recycling unit. In Phase-I, 19,500 MTPA plant is strategically located at the Mundra Port and is equipped with state-of-the-art facilities.
Price as on 13 Dec, 2021 10:31 AM, Click on company names for their live prices.
Venky’s (India) is setting up a new project for manufacture of Veterinary Medicine Products under its Animal Health Product Segment. Total cost of the project is estimated at Rs 30 crore which will be funded from internal accruals.
Price as on 13 Dec, 2021 10:23 AM, Click on company names for their live prices.
Tega industry is debuting the secondary market on expected line as the grey market was indicating a listing gain of 65-70%. The fundamentals of the company are very sound and the outlook for the industry is also bullish therefore long-term investors should hold this company into their portfolio while those who applied for listing gain can keep a stop loss at Rs 690.
– Santosh Meena, Head of Research, Swastika Investmart
Friday’s close was just at the brink of 17,500 which was a positive sign. If we can keep above this level today, the markets are heading higher to levels closer to 18,200. This is also a point where the Nifty may resist and if that happens there could be a knee jerk reaction on the reverse side. Hence, today’s closing is imperative.
– Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
Re-entry opportunity in Reliance Industries
LISTING ALERT: Tega Industries lists at 68% premium over issue price
Zydus to begin Phase II (a) clinical trial of ZYIL1, a novel oral NLRP3 inflammasome inhibitor in patients with Cryopyrin-Associated Periodic Syndrome (CAPS) in Australia
Price as on 13 Dec, 2021 10:00 AM, Click on company names for their live prices.
Board of Directors of the company is scheduled to be held on Thursday, December 16 for considering the purchase of technology and brand name.
Price as on 13 Dec, 2021 09:44 AM, Click on company names for their live prices.
Paytm released update on November biz growth
Tega industry is likely to debut secondary market on a strong note despite being a complete OFS. The fundamentals of the company are very sound whereas valuations are also attractive. It witnessed strong top-line and bottom-line growth with a rise in margins in recent years and it has healthy cash flows. The outlook for the industry is also bullish therefore long-term investors should hold this company into their portfolio. Grey market premium is suggesting a listing gain of around 60-70%.
– Aayush Agrawal, Sr. Research Analyst – Merchant Banking, Swastika Investmart Ltd.
Its material subsidiary, AG Enviro Infra Projects has received letter of intent for contract namely ‘door to door collection and transportation of municipal solid waste to disposal site and operation & maintenance of equipment/machineries’ from city – Sadar Paharganj Zone of North Delhi Municipal Corporation.
Price as on 13 Dec, 2021 09:25 AM, Click on company names for their live prices.
The recently listed lender has witnessed good growth across key parameters during the first half of the current fiscal year and is expecting to grow at about 30-35 per cent in terms of revenue on a long-term basis.
Price as on 13 Dec, 2021 09:25 AM, Click on company names for their live prices.
The company has approved second interim dividend of Rs 13.50 per equity share on face value of Re 1 per share for FY22, amounting to Rs 5,019 crore.
Price as on 13 Dec, 2021 09:24 AM, Click on company names for their live prices.
Listen In: Why MedPlus IPO appears to be a pricey affair
Most active stocks on NSE in early trade
Price as on 13 Dec, 2021 09:20 AM, Click on company names for their live prices.
OPENING BELL: Sensex jumps 400 points, tops 59K; Nifty above 17,600; Vedanta, Axis Bank rise 2% each
SGX Nifty signals a positive start
SGX Nifty signals a negative startDomestic equity markets are set to kick off the new week on a strong note, following the global trends. Nifty futures on the Singapore Exchange traded 128.5 point, or 0.73 per cent, higher at 17,673.50, signaling that Dalal Street was headed for a positive start on Monday.
Asian shares trade higher
Asian stocks opened higher on Monday as investors took heart from US rallies and digested the Bank of Japan’s key business confidence survey. MSCI’s index of Asia-Pacific shares outside Japan was up by 0.95 per cent.Japan’s Nikkei rallied 0.99%South Korea’s Kospi gained 0.80%Australia’s ASX 200 added 0.55%China’s Shanghai surged 1.05%Hong Kong’s Hang Seng surged 1.62%
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