Market Watch: VK Sharma, HDFC Securities
Buy 610 call on Axis Bank at Rs 11 with a stop loss at Rs 7 for a target of Rs 20.
Buy a 5200 call on Bajaj Finance at Rs 88 with a stop loss at Rs 60 for a target of Rs 150.
Buy 500 call on Cadila Healthcare at Rs 8.20 with a stop loss at Rs 5 for a target of Rs 15.
Buy 680 calls on Max Financial Services at Rs 17 with a stop loss at Rs 13 for a target of Rs 25.
Buzz | Paisalo Digital shares rose 20 percent to a 52-week high of Rs 625.55 each on the BSE after SBI Life Insurance acquired an 8.99 percent stake in the company for a cash consideration of approximately Rs 186.20 crore.
Ports of Adani and SEZ | Adani International Container Terminal Private Limited (AICTPL) inaugurated the USD 300 million public bond issue subscribed 10 times, said Adani Port. The 10-year issue was traded at par to yield 3.00%, which is also the lowest coupon achieved by any Indian corporate issuer in the past 5 years, he added.
Technical view | We have opened on a boisterous note and should soon be heading to levels of 13,950-14,000. This could be as early as this week. Weekly support is at 13,550-13,600 and any drop towards those levels becomes a good buying opportunity for higher targets, it says. Manish Hathiramani, Technical Analyst and Owner Index Trader, Deen Dayal Investments.
The market opens | Benchmarks of Indian stocks, Sensex and Nifty opened at record highs Monday following gains in their Asian peers after reports said US President Donald Trump signed a pandemic aid package. of USD 900 billion. The broader markets, Nifty Midcapp100 and Smallcap100 supported the gains. All of Nifty’s industry indices were in the green led by banks and metals.
Market Watch: Prakash Diwan, Market Expert
In NCC
Stocks like NCC are likely to be involved in this new phase of the small-cap and mid-cap upward movement for the simple reason that the market is experiencing such active turnover. The company has excellent order books and this is a company that has done a lot of repairs in the last 2-3 years in terms of asset turnover, it will probably stand out and they will gain market share, they will be able to participate more actively. in bids that are presented in the following year.
At Tata Motors
Tata Motors, the crash we saw before the second wave, particularly in the UK, was the opportunity that you could have stepped into, because I don’t think life will change drastically just because the UK and Europe have decided to sit in it. table. Tata Motors, particularly JLR, has a business profile that is much more dependent on many other geographies. So my calculation is that it doesn’t change too much for Tata Motors, except for the sentimental positive that can be seen in today’s prices. However, I don’t think you can accept it just for this.
6 of the top 10 most valued companies add Rs 60,198 cr in m-cap; Infosys, the main winners of TCS
Six of the top 10 most valued Indian companies together added Rs 60,198.67 crore in market valuation last week, with top IT companies Infosys and Tata Consultancy Services (TCS) emerging as the biggest winners. Reliance Industries Ltd (RIL), TCS, Hindustan Unilever Ltd (HUL), Infosys, Kotak Mahindra Bank and Bharti Airtel were the six winners on the top 10 list.
On the other hand, HDFC Bank, HDFC, ICICI Bank and Bajaj Finance all witnessed a drop in their market valuation.
Infosys market capitalization increased by Rs 19,849.41 crore to Rs 5,26,627.07 crore.
TCS added Rs 17,204.68 crore to bring its valuation to Rs 10,91,362.33 crore and the HUL valuation gained Rs 16,035.72 crore to Rs 5,63,881.75 crore. Keep reading.
442 infrastructure projects show cost overruns of Rs 4.34 lakh crore
Up to 442 infrastructure projects, each worth Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.34 lakh crore, according to a report. The Ministry of Statistics and Program Implementation oversees infrastructure projects worth Rs 150 million or more. Of the 1,671 projects of this type, 442 reported cost overruns and escalation 536 times.
“The original total implementation cost of the 1,671 projects was Rs 21,21,383.82 crore and their anticipated completion cost is likely to be Rs 25,55,957.52 crore, reflecting an overall overrun of Rs 4,34,573.70 crore (20.49 percent of the original cost), “said the latest ministry report for November 2020.
The expense incurred on these projects until November 2020 is Rs 11,93,997.81 crore, which is 46.71 percent of the anticipated cost of the projects.
However, he said that the number of delayed projects is reduced to 412 if the delay is calculated on the basis of the latest completion schedule.
In addition, the report says that for 942 projects neither the year of commissioning nor the tentative gestation period has been reported. Read more here.
FPIs were pumped at Rs 60,094 crore in December so far
Foreign Portfolio Investors (FPIs) have injected a net amount of Rs 60.094 crore into Indian markets in December so far amid optimism in global markets.
According to depositary data, FPIs invested a net amount of Rs 56,643 crore in equity and Rs 3,451 crore in debt instruments between December 1 and 24. Total net investment during the period under review was Rs 60,094 million.
In November, the total net investment of FPIs stood at Rs 62,951 crore. Read more here.
Oaktree hints at legal action for ‘misrepresentation’ of DHFL offer
Oaktree Capital, one of DHFL’s bidders, in a letter to the Creditors Committee (CoC), has said that its bid for the troubled home finance company is constantly being misrepresented and that the evaluation of its financial proposals based on information incorrect may be subject to judicial, administrative and investigative review.
According to Oaktree, despite presenting an offer that offers maximum value to all interested parties, there seems to be a constant campaign to misrepresent information about their proposals.
“In terms of the full recovery offered to financial creditors, as well as the net present value, Oaktree’s financial proposition is clearly superior to all other PRAs,” the company said in the letter. Keep reading.
Trump signs pandemic aid package and government funding measure, avoiding a government shutdown
President Donald Trump has signed a $ 900 billion pandemic relief package that will deliver long-sought cash to businesses and individuals. It also prevents the government shutdown. Trump announced the signing in a statement Sunday night.
The huge bill includes $ 1.4 trillion to fund government agencies through September and contains other priorities at the end of the session, such as money for cashless transit systems and an increase in food stamp benefits. Democrats promise more help once President-elect Joe Biden takes office, but Republicans are signaling a wait-and-see approach. Read more here.
First, here is a quick update on what happened in the markets on Thursday.
Indian indices closed higher on Thursday led by gains mainly in heavyweight RIL and banking and financial stocks. Sentiment was also fueled by a rally in world pairs on news that a Brexit trade deal was imminent, boosting global sentiment ahead of the Christmas holidays. The Sensex closed 529 points higher to settle at its closing high of 46,973 while the Nifty rose 148 points to finish at 13,749. The broader markets were mixed during the day: the mid-cap index was up 0.2 percent and the small-cap index was up 0.9 percent. The Indian market was closed on Friday for Christmas.
Good morning readers! I’m Ankit Gohel from CNBC-TV18’s Market Desk. Welcome to our market blog, where we provide live news coverage of the latest events in the stock market, business and the economy. We’ll also get instant reactions and guests from our stellar lineup of TV guests and editors, researchers, and internal reporters. If you are an investor, we wish you a great trading day. Good luck!
