Tuesday’s domestic markets are likely to open with a gap up due to favourable global cues. The SGX Nifty was trading at 18,634 levels at 7:40 am, up 137 points from Monday’s spot Nifty close.
As investors wait for the inflation report, all major averages in the US markets registered significant overnight increases. The closing percentages of the Dow Jones, NASDAQ Composite, and S&P 500 all exceeded 1%.
However, the Nikkei 225, S&P 200, and Topix indices all saw gains of up to 0.4%, which left the Asia-Pacific markets divided. The Hang Seng, Kospi, and Kosdaq indices, on the other hand, experienced losses of up to 0.3%.
ICICI Bank: The private sector lender issued bonds to raise Rs 5,000 crore to finance corporate expansion. The bonds are redeemable at the end of seven years, but they don’t come with any unique benefits or rights. The bonds have an annual coupon of 7.63% and will be listed in the appropriate section of the NSE.
Dalmia Bharat: The flagship company of the Jaypee Group, Jaiprakash Associates, and its affiliated companies sold their cement holdings to Dalmia Bharat for a total of Rs 5,666 crore. By FY27, Dalmia Bharat would have a capacity of 75 million tonnes, according to the management, and will be able to further establish itself in the central region.
ONGC: The company intends to drill 53 exploration wells in Andhra Pradesh between 2021 and 2028, with an investment of Rs 2,150 crore in the Godavari on-Land PML (Petroleum Mining Lease) Block of KG Basin and three in the CD-ONHP-2020/1 (OALP-Vi) Block in Cuddapah basin.
Paytm: According to the business, loan disbursements totalled about Rs 39,000 crore on an annualised basis in November of this year. The company recorded loan disbursements at an annualised run rate of about Rs 37,000 crore last month. On Tuesday, December 13, the board will also meet to discuss a share buyback plan.
Bank of Maharashtra: The state-owned Bank of Maharashtra is reportedly planning to offer up to Rs 1,000 crore worth of extra tier-1 (AT-1) bonds in the upcoming days. The bonds have received an AA rating from Acuite Rating and Infomerics Ratings and are anticipated to have a call option after five years from allocation.
Steel Stocks: After becoming eligible for the PLI scheme for speciality steel, the steel stocks Tata Steel, JSW Steel, JSPL, and SAIL are likely to be in the spotlight during Tuesday’s trading. Other companies chosen to invest under the PLI plan include Gallant Metaliks, Shyam Metalics, and Sunflag Iron and Steel.
Route Mobile: Uganda Telecommunications Corporation has inked an exclusive contract with the company’s wholly-owned step-down subsidiary, 365squared, to receive artificial intelligence (AI) or machine learning-based A2P SMS firewall solutions. The management claimed that for Uganda Telecom, the firewall solutions will reduce revenue leakages and remove grey routes.
Maruti Suzuki: The carmaker unveiled a Wagon R flex fuel prototype model in New Delhi as part of its decarbonization efforts. This vehicle could run on any ethanol-petrol mixture. In order to meet the BS6 Phase-II emission standards, the company has also created engine management system methods and emission control systems.
KEC International: The business received fresh orders totalling Rs. 1,349 crores from a variety of industries. It has landed contracts for T&D projects in the USA, Middle East, SAARC, and India. Aside from that, it has also received orders to construct a data centre in India’s hydrocarbon sector and for a variety of cables in both India and outside.
BGR Energy: With an 18-month completion period, the company received orders from Indian Oil Corporation to build civil and structural works in the Panipat Refinery Project Complex for Rs 330 crore.
Stocks in F&O ban: BHEL, Delta Corporation, GNFC, and PNB were stocks banned in the F&O ban period on Tuesday, December 13.
