Sensex Today | Share Market Live Updates: Sensex up 100 pts; Nifty at 21000; small, midcaps shine

NECC touched intraday high of ₹32.70 per share, hitting 5 per cent upper circuit within few minutes of opening. The company received GAIL order worth ₹52.48 crore

Recently, NECC entered into an MoU with SG Logistic Management to acquire up to 20% of shares or securities for an aggregate Investment size of up to 20 crores.

Adani Green Energy plans to raise about $410 million via new bond issuance to refinance a dollar note maturing in a roughly year’s time, according to a filing to Singapore’s stock exchange.

The refinancing plan for Adani Green’s $500 million Dec. 10, 2024 bond, dated Dec. 8, fulfills a requirement laid out in the terms of the note. (Bloomberg)

European stocks and US futures contracts were little changed. The Stoxx Europe 600 was little changed, S&P 500 futures fell 0.1%, Nasdaq 100 futures fell 0.2% and futures on the Dow Jones Industrial Average were little changed. The MSCI Asia Pacific Index fell 0.2% and the MSCI Emerging Markets Index fell 0.2%

The festive season is likely to have brought cheer to the consumer durables industry, paving the way for a good December quarter.

“Festive demand is estimated to have grown in the range of 7-9% year-on-year,\” noted Harshit Kapadia, an analyst at Elara Securities (India). (Read more)

GRM Overseas has sold over 3% stake in its subsidiary company GRM Foodkraft Pvt. Ltd to consumer-focused venture capital fund Sauce.vc. Both parties have yet to disclose the deal amount. 

The power ministry is set to review its current policy of mandating power generation companies to blend 6% imported coal amid a consistent rise in power demand and inadequate domestic coal supplies.

The review, likely in January, will determine whether to continue the blending requirement beyond March and consider increasing the blending percentage in response to growing demand and fluctuating coal stocks, said two people in the know of the development. (Read more)

Asian stock markets displayed a mixed performance on Monday, following Wall Street\’s climb to a 20-month peak. This comes ahead of a pivotal week that will reveal crucial US inflation figures and the Federal Reserve\’s last interest rate decision for the year. While US futures trended upward and oil prices recovered some of their recent significant losses, market responses in Asia varied.

Hong Kong\’s Hang Seng Index dipped by 0.8% while Shanghai Composite Index rose 0.7%. Tokyo\’s Nikkei 225 index surged 1.5% and Seoul\’s Kospi inched up by 0.3% to 2,525.01. Australia\’s S&P/ASX 200 remained largely unchanged.

The stock after witnessing a gradual correction from 780 zone has bottomed out 640 levels taking support and indicating a decent pullback to improve the bias with upside potential visible to carry on the momentum further ahead. The RSI also after the slide has indicated a trend reversal from the oversold zone to signal a buy and with the chart looking good, we suggest to buy and accumulate the stock with an upside target of 775 keeping the stop loss near 650 levels.

Presstonic Engineering IPO has opened for subscription today and will close on Wednesday. The price band is set at ₹72. The Presstonic IPO lot size is 1,600 shares. Investors can bid for a minimum of 1,600 shares and in multiples thereof. The face value of the equity shares is ₹10 each, and the issue price is 7.2 times the face value of the equity shares.x

The company\’s subsidiary, GMR Visakhapatnam International Airport Ltd has secured ₹3,215 crore in funding. This capital, raised from a consortium of five banks/financial institutions, is allocated for the first phase of development of Bhogapuram International Airport. This financing agreement marks a significant step in the expansion plans of GMR Airport.

The departure of Wipro Ltd’s head of large deals Stephanie Trautman was hastened by the inability of the country’s fourth-largest information technology (IT) services firm to win a single mega deal in the last three years, even as three of the larger rivals bagged at least nine contracts valued at more than $1 billion in value. (Read more)

The stock is also trading close to its 52-week highs as investor sentiments rebounded after taking some beating with a decline in Brent crude prices.

Budget carrier SpiceJet announced on Monday its plans to list on the National Stock Exchange. Following this announcement, amid its current financial challenges, the airline\’s shares saw a surge of over 12% on the BSE.

Sensex marginally higher at 69,872.15 in noon trade; Ultratech, Tata Motors top gainers, while Axis Bank and Asian Paints drag

Automotive air-conditioning solution provider, Subros, witnessed a surge in its shares on Monday, reaching a new pinnacle, following the announcement of a new order win from Indian Railways. In an exchange filing on December 09 (Saturday), the company said it bagged a new order worth ₹25 crore from Indian Railways for the supply and commissioning of coach roof mounted air-conditioners.

The state-owned company has launched a new retail division dedicated to offering financing options under the PM-KUSUM scheme, Rooftop Solar, and various other consumer-facing sectors.

The company has secured a contract valued at ₹1,145 crore from ONGC to install roughly 44.4 kilometers of underwater pipelines across 19 segments.

There are early signs that foreign investors are coming back to Indian stocks. This holds the potential to turbocharge the stock market. What should investors do after the market breaks through new all-time highs? (Read here)

Oil prices witnessed an uptick on Monday, continuing their upward trend for the second consecutive session on US\’ efforts to refill its strategic reserves. Brent crude futures climbed by 0.6%, or 48 cents, reaching $76.32 a barrel. The West Texas Intermediate crude futures traded at $71.61 a barrel, up 0.5%, or 38 cents.

KPIL has been taking all the right steps, however valuations at 27.2xFY26 are factoring in expected increase in competition and consequent threat to market share and profitability post Grasim’s entry. We believe improving sales traction and profitability in Industrial paints (45% of sales), could be a saving grace given for KPIL given parent’s strength in Industrial Paints. We estimate 27.9% PAT CAGR over FY23-26 and 13.3% CAGR over FY24-26. Retain accumulate with target price of Rs370 based on 32xSept25EPS ( ₹351 earlier based on 32xFY25 EPS).

India\’s leading private thermal power producer, has presented an improved and revised offer of ₹4,100 crore to the lenders of Lanco Amarkantak Power. Lanco Amarkantak Power, a thermal power company, is currently undergoing insolvency proceedings, sources familiar with the matter told the Economic Times.

On Monday, shares of Dr. Reddy\’s Laboratories dropped by 6.5% following the issuance of three observations by the US Food and Drug Administration for the company\’s facility located in the state of Telangana.

Indian stock indices started the day with slight increases amid mixed signals from global markets. The Sensex rose by 85.93 points, a 0.12% gain, to 69,911.53, while the Nifty increased by 10.70 points, or 0.05%, reaching 20,980.10. The market saw about 1901 shares advancing, 606 shares falling, and 157 shares remaining steady.

Sensex was in the green at pre-open, trading around 150 points higher. Asian markets were mixed in trade on Monday

INOX India has set a price range for its IPO at ₹627- ₹660 per share. The subscription period begins on December 14 and ends on December 18, with anchor investor allocation slated for December 13. The price band reflects 313.5 to 330 times the face value. The IPO\’s price-to-earnings ratio at the cap price is 39.22 times, and 37.25 times at the floor price, based on the FY2023 diluted EPS. Investors can bid for the IPO in lots of 22 shares or its multiples.

Foreign portfolio investors (FPIs), who offloaded bank stocks in the last two and a half months, have shifted their stance to a more bullish outlook on the banking sector. Analysts note that these investors are now actively purchasing cash stocks and futures contracts in December, showing a preference for financial stocks over other large-cap categories. (Full report)

\”Nifty created yet another history scaling the 21,000 landmark during the intraday session witnessing some volatility but regained strength in the second half to end on a positive note. As mentioned earlier, a decisive breach above 21,000 levels is required to maintain the uptrend and expect for next higher targets of 21,800 to 21,900 levels in the coming days with near-term support lying near 20,550 zone of the rising trendline level.\” 

Parekh recommended three intraday stocks for today — Bharat Forge, Infosys and Century Plyboards.

Wipro Ltd’s founder chairman Azim Premji has expressed displeasure about the way the country’s fourth-largest information technology services company is being steered to executive chairman Rishad Premji and chief executive Thierry Delaporte, four people aware of the development told Mint.(read more)

Tata Motors, Wipro, Cipla, Bank of India, PSP Projects, Adani Group companies, Zomato are among stocks that will be in focus on Monday.

Balrampur Chini Mills, Delta Corp, Indiabulls Housing Finance, Hindustan Copper, National Aluminium Company, SAIL, and ZEEL are under F&O ban for Monday

On Monday, Asian stock markets saw a decline in anticipation of a busy week featuring five central bank meetings and the release of U.S. inflation data, which are crucial in determining market expectations for a series of quick rate cuts in the coming year.

Following a positive employment report, investor expectations for a rate cut by the Federal Reserve in March have diminished, though there is still a likelihood of a cut in May.

This week, the Federal Reserve is widely expected to maintain its interest rates at the range of 5.25-5.50%. MSCI\’s broadest index of Asia-Pacific shares outside Japan eased 0.7%. Japan\’s Nikkei rose 1.6% after shedding 3.4% last week.