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View on market: Stay Cautious, be with quality business:

Stocks rose Friday as concerns over the omicron strain eased a bit after a U.K. study suggested that the infections are less likely to lead to hospitalisation. Shares climbed in Japan, South Korea and Australia. The S&P 500 hit a record Thursday. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.33% to 17,127.50, as of 6:40 a.m. Crude oil inched toward $74 a barrel. Bitcoin held above $50,000 after breaching that level for the first time in almost two weeks.

Economic Calendar:

  • INR: Foreign Exchange Reserve on 24th December, 2021.
  • INR: Infrastructure Output YoY on 31st December 2021
  • USD: Goods Trade Balance on 29th December, 2021.
  • USD: API Weekly Crude Oil Stock on 29th December, 2021.

Brokerage Radar:

MACQUARIE ON PAYTM: Macquarie has given Underperform rating with target price of Rs. 1200 as Three senior executives of PayTM Group have tendered their resignations• Abhishek Arun (COO, PayTM Payments Bank), Renu Satti (COO, offline payments) and Abhishek Gupta (Senior VP & COO, lending) have resigned Believe high senior-management attrition has been one of the main problems at PayTM PayTM’s valuation, at ~17x FY23E Price to Sales (P/S), is expensive

International Markets:

U.S & Europe

Particulars 23rd Dec Chg Chg(%)
Nasdaq 15,653.37 131.48 0.85
Dow 35950.56 196.67 0.55
FTSE 7,373.34 31.68 0.43
CAC 7,106.15 54.48 0.77
DAX 15,756.31 162.84 1.04
Dow Fut.* 35841.00 87.1 0.24

Asian markets:

Particulars 24th Dec Chg. Chg(%)
SGX Nifty 17,149.50 77.5 0.45
Nikkei 28,821.35 22.98 0.08
Straits Times 3,103.54 6.73 0.22
Hang Seng 23,195.15 1.51 0.01
Shanghai 3,626.39 -16.95 -0.47

ADR Watch:

Particulars 23rd  Dec Chg. Chg.(%)
Dr Reddy 62.79 0.67 1.08
HDFC Bank 63.25 -0.26 -0.41
ICICI Bank 19.33 -0.04 -0.21
Infosys 24.73 0.2 0.82
Tata Motor 31.21 -0.29 -0.92
Wipro 9.45 0.04 0.43

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 75.24 -0.42
Brent 76.52    0.10
Gold 1810.10 0.01
Silver 22.910 0.40

FIIs & DII

Particulars 23rd Dec 22nd  Dec
FIIs -271.59 -872.26
DIIs 1196.48 1593.41

News Update:

Data Patterns India : The company will make its debut on the bourses today. The issue price is fixed at Rs 585 per share..           .

PSP Projects : The company has divested its entire stake in the company’s wholly-owned subsidiary PSP Projects INC.

L&T Finance Holdings : The company will sell its mutual fund business L&T Investment Management to HSBC Asset Management (India) for $425 million.

InterGlobe Aviation : The company appoints Neetan Chopra as Chief Digital & Information Officer. Chopra will join IndiGo with effect from January 3, 2022.

Allcargo Logistics : The company has approved to restructure the business by way of a scheme of arrangement and demerger. Container freight station/inland container depots and any other related logistics businesses of the company will be demerged into Allcargo Terminals, and engineering and equipment leasing and hiring solutions, logistics park, warehousing, real estate development and leasing activities and other related businesses of the company will be demerged into Translndia Realty & Logistics Parks.

Tega Industries : The board of directors has given in-principle approval for an investment of Rs 175 crore for an additional plant in Chile, to be set up in around two years.

Mphasis : Subsidiary Mphasis Consulting, UK, and Ardonagh have agreed to set up a shared services entity to service middle and back-office functions. To execute this, Mphasis and Ardonagh, signed a Business Venture Agreement wherein, Mphasis has acquired 51 percent stake in Mrald, a company incorporated in England and Wales.

United Breweries : The National Company Law Appellate Tribunal has stayed the order passed by the Competition Commission of India upon a condition of pre-deposit of 10 percent of the penalty amount imposed on United Breweries. The company will comply with directions and the 10 percent amount shall be deposited through a fixed deposit receipt within stipulated time as mentioned in the order.

TCS: La Mobilière, the oldest private non-life insurer in the Swiss market, selected TCS as a strategic partner to accelerate its digital transformation agenda.

Ajanta Pharma: The Company will consider a proposal to buy back equity shares, on December 28.

Oricon Enterprises: The Company and it’s material subsidiary United Shippers will subscribe to 2 lakh and 22 lakh shares, respectively, in promoter group company Kopran at 255 rupees per share, being issued on a preferential basis.

GPT Infraprojects: The Company has bagged an order worth Rs 56 crore.

Surya Roshni : The company bagged an order worth Rs 124.35 crore for the supply of API 3LPE Coated Pipes for the LPG Pipeline Project.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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