News Shots

Dr Reddy’s Laboratories has inked a pact with Glenmark Pharmaceuticals to acquire its select anti-allergy brands in Russia, Ukraine, Kazakhstan and Uzbekistan.

Adani Group has indicated that it can improve on its Rs 33,000 crore takeover offer for collapsed housing lender DHFL and has sought forfeiture of deposits of bidders seeking to vitiate auction by questioning maximum recovery of public money.

Auto makers will be in focus as they will announce their sales for the month of November. Emkay Global, in a note, said wholesale growth should be robust for tractors, two-wheelers and car makers, supported by healthy retails and a favorable base.

OPEC members and its allies are holding a virtual meeting on today and  tomorrow to finalise an expected extension to production cuts as the coronavirus pandemic continues to weigh on global demand. Energy stocks such as Oil & Natural Gas Corp, Oil India etc can be watched.

Realty major DLF has sold nearly 90 independent floors worth over Rs 300 crore in Gurugram and plans to launch more such projects as demand for premium residential properties has revived in the last few months.

Non-banking finance company IndoStar Capital Finance is looking to fully exit from corporate lending business by March 2022.

Route Mobile, a cloud communications platform service provider, is eyeing two acquisitions in areas of conversational AI and virtual contact centre, and the process of “due diligence” is currently on.

Hindustan Construction Company, in a joint venture with Vensar Constructions Company (VCCL), has bagged two orders totaling Rs 236 crore from the Northeast Frontier Railway.

JSW Steel is in the process of acquiring land at Jagatsinghpur in Odisha where it has proposed to set up a 13.2 MTPA greenfield steel plan.

Aurobindo Pharma expects to commercialise its vaccine manufacturing facility in Hyderabad by April-May next year.

TVS Motor to acquire 100% stake in advanced fleet management solutions provider Intellicar Telematics for a cash consideration of Rs 15 crore.

SRF – The company’s resin plant, set-up in Thailand by its wholly-owned subsidiary has been commissioned and capitalised at a cost of $19 million.

Premier Explosives wins a contract worth Rs 14 crore from Ministry of Defence for supply of 26 mm Chaffs.

Finolex Cables makes an addition to its portfolio with the launch of anti-bacteria fans (need to look into what this is 😂)

Bata India announced the appointment of current India CEO Sandeep Kataria as the company’s global CEO – the first Indian to be elevated to this role.

VA Tech Wabag has Incorporated a new subsidiary ‘Kopri Bio Engineering Pvt. Ltd.’ to carry out the business of manufacturing, processing, owning, operating and maintaining sewage treatment plants among other businesses.

What to expect today?

Last week, NIFTY traded within the range of 12,800 to 13,150. In the month of November, FIIs pumped in more than Rs 60,000 crores! Friday was absolute consolidation within 12,950 and 13,050, with unusual volume kicking in towards the end. Click here for a detailed analysis of Friday’s market and stock movements. 

Bank Nifty traded in the range from 28,800 to 30,200. Friday was extreme consolidation between 29,400 and 29,700.

There is not much market shattering news over the extended weekend.

The US and European markets closed in the red. Asian markets are also mostly flat and in the green. SGX NIFTY is trading at 12,996, which is 3 higher, indicating a flat opening in the Indian Market. 

NIFTY is likely to trade between 12,900 and 13,100. There are resistances at 13,030, 13,050 and 13,100. There are supports at 12,960 and 12,900.

My view for the week is NIFTY should consolidate between 12,800 and 13,200. If 13,200 is broken on the upper side is when I’ll turn bullish.

Highest Call Open Interest at 13,000, followed by 13,500. Highest Put Open Interest at 12,000, followed by 13,000.

Foreign institutional investors (FIIs) net bought shares worth Rs 7,712.98 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 4,968.9 crore in the Indian equity market on November 27.

So as we had discussed, there was this sudden inflow of never-seen-before-like amounts of money into the Indian markets towards the closing of the market on Friday. It is being linked to the MSCI rejig, that was absolutely one of the possibilities. If that is the case, out of Rs 63,000 crores FII inflow last month, Rs 25,000 crores was due to MSCI rejig.

Still FIIs bought for Rs 38,000 crores which is huge. But did it all come in associated with the MSCI rejig thing? Let’s watch what FIIs and DIIs are going to do today in the market. I think it will be interesting and decisive.

So in November, NIFTY rallied nearly 15% and Bank Nifty rallied nearly 25%. The December series, with 5 expiries, will definitely be more volatile.

GDP data should most probably be a non event.

In the US, Moderna surged 20% on Monday after the company said that it plans to request clearance for its Covid-19 vaccine in the US and Europe. Another vaccine induced rally?

Reliance was giving pure range bound movement in the last few days between 1960 and 1935. Breaking this range can give a good trading opportunity.

So, a new week and a new month. Hope you did the analysis of November’s profit and loss statement. Now, focus on making December’s P&L awesome! Follow us on marketfeed app’s livefeed section to get real-time updates from the market. All the best for the day!