Stock Market Highlights | Nifty 50, Sensex end lower, led by HDFC Bank, Reliance

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Most Heavyweights Close Lower With HDFC, RIL, L&T Top Nifty Drags

Sensex Falls 378 Points To 69,551 & Nifty 96 Points To 20,901

Nifty Bank Down 217 Pts To 47,098, Midcap index 173 Pts To 44,556

2-wheelers (Bajaj Auto & Hero) Rise While 4-wheeler Stocks Slip Aftaer SIAM Data

ITC Closes In The Green But Off Highs Ahead Of Analyst Meet

IREDA Extends Gains, Triples From IPO Price Within 10 Days Of Listing

PI Ind Slides 10% On Rpts Of Increased Competition In Pyroxasulfone Mkt

Mankind Pharma Falls Nearly 4% After 8.7% Equity Changes Hands Via Block

Can Fin Recovers From Lows On Mgmt’s Commentary, Closes 3% Higher

HDFC Life Top Nifty Gainer, Up More Than 5% On `232 Cr Tax Demand Relief

SpiceJet Falls 5% On Q2 Results, `2,250 Cr Fund Raise Nod

Market Breadth Favours Declines, NSE Advance-Decline Ratio Stands At 1:2

Hyderabad-based infrastructure development company NCC is confident of achieving revenue growth of over 20% in the financial year 2024 with order inflow surpassing guidance of ₹26,000 crore.

Neerad Sharma, Head of Strategy at NCC told CNBC-TV18 that the revenue growth target factors in the nearly 35% growth in the past six months. The margin target for the year is set at 10%, he added.

Read more here

SpiceJet has recorded a net loss of ₹432 crore in the July to September 2023 quarter as against a profit of Rs 6.2 crore in the preceding quarter, the Indian carrier informed exchanges on December 13.

The firm has also decided to raise funds worth ₹2,250 crore via equity shares and convertible warrants.

Read more here

 

 

The Board of Adani Ports and Special Economic Zone Limited on Tuesday approved issuance of Non-Convertible Debentures or NCDs worth ₹5,000 crore in one or more tranches on private placement basis.

The Adani Group entity will raise up to ₹250.2 crore through the issuance of preference shares on a private placement basis.

Read more here

 

The Nifty Realty index is the top loser among sectoral indices, down 1.09%.

Barring Phoenix Ltd, the remaining nine stocks in the index are in the red.

The initial public offering (IPO) of DOMS Industries will open for subscription on Wednesday, December 13. The company has fixed a price band of ₹750-790 per share for its offer.

Ahead of the issue opening, the company continues to command a healthy premium in the grey market. Last heard, shares of DOMS Industries were trading at a premium of ₹450 in the unlisted market.

Read more here

Tata Communications on Tuesday bagged an order from JLR to connect its 128 global sites with cloud-first.

While the Sensex reaching 70,000 is a significant milestone, it’s important to remember that investing is a long-term journey, said Nitin Rao CEO, InCred Wealth. “Current valuations are reasonable, supported by strong economic fundamentals and a positive market sentiment. This suggests that markets are likely to continue trending upward alongside economic growth.”

The initial public offering (IPO) of DOMS Industries will open for subscription on Wednesday. The company has fixed a price band of ₹750-790 per share for its offer. Last heard, its shares were trading at a premium of ₹450 in the grey market. Read here

Pidilite shares are in the green after two days, up 2.35%.

The stock has been in the green for three out of the last five trade sessions.

The stock has gained 2.98% this year, so far.

 

Here are a couple more recommendations by technical analyst Mitessh Thakkar:

– Buy Indian Hotels Company at a target of Rs 460 with a stop loss of Rs 438
– Buy Canara Bank at a target of Rs 465 with a stop loss of Rs 439.5

The price band for the initial public offer (IPO) of Motisons Jewellers, which is completely a fresh issue of 2.74 crore shares, has been fixed ₹52-55 per share. Investors can bid for a minimum of 250 equity shares in one lot and in multiples thereafter.

The Jaipur-based jewellery retail company is aiming to raise around ₹151 crore via its IPO route. Subscription for the public issue will open on December 18 and conclude on December 20. The allocation to anchor investors will open for a day on December 15.

Read more here

The USFDA has issued Form 483 with five procedural observations for Torrent Pharma’s oral-oncology facility in Gujarat, the latter said in a stock exchange filing on Tuesday.

The company added there was no observation related to data integrity reported.

Read more here

Click here to watch Praveer Sinhar, MD & CEO Of Tata Power in conversation with CNBC-TV18 LIVE

Shares of Paytm have continued to extend their losses. In the 12 trading sessions since November 23, the stock has declined in 10 of them.

The fintech payments platform is down another 4% on Tuesday after briefly snapping a six-day losing streak on Monday.

Read more here

 

Analysts at Motilal Oswal Financial Services Ltd (MOSL) retained the ‘buy’ recommendation on Tata Group’s retail arm Trent Ltd and projected up to 9% upside in the stock after the company management revealed the plans to drive growth.

MOSL has set a target price of ₹3,140 per share for Trent, which implies a potential upside of 9%, for the next 12 months.

Read more here

Paytm shares are in the green after a day’s breather, down 4.07%.

The stock has been in the red for seven out of the last eight trade sessions.

The stock has gained 18.36% this year, so far.