News and Global Index updates.

🌹 🌞Good Morning 🌞🌹

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*Today's Corporate Action*

*5th Dec Ex Date*

PANCHSHEEL 

Interim Dividend - Rs. - 0.8000

*Today's Key Results/Board Meetings*  5-Dec-22*

ALFATRAN 

Issue Of Warrants;Preferential Issue of shares

BHANDERI 

Quarterly Results      

DHANBANK 

General        

GUJTLRM 

Preferential Issue of shares    

MARG 

Quarterly Results      

MTPL 

General        

MUFIN 

General        

RAJINFRA 

General        

SABTN 

General        

SOFTRAKV 

General        

SUKHJITS 

Interim Dividend      

TIGERLOGS 

General        

TRIVIKRAMA 

General        

VEERHEALTH 

General;Preferential Issue of shares

*Stock under F&O ban on NSE*

*5-Dec-22*

1 DELTACORP 

2 IBULHSGFIN  

3 PNb

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🌹News Room🌹

News Headlines from Business News Agencies:

Business Standard

• After toys, govt looks to curb China electric fan, smart meter imports

• Indian legal system a hurdle for aircraft lessors: Air India to govt

• Tepid demand for cyber insurance policies despite steep rise in attacks

• India to continue buying oil from all countries including Russia: Official

• Rural demand for FMCG dips 17% in Nov as post-festive consumption slows

• Forex reserves rise for third week in a row; up $2.9 bn to $550.14 bn

• Canara Bank wins 'Banker's Bank of the Year Award 2022' for India

• Indian Oil plans to upgrade supply locations, aviation fuel station in Goa

• Reliance Infra moves SC against DMRC for payment of Rs 4,500 crore

• Tech Mahindra signs MoU with Egyptian agency for delivery centre in Cairo

• Westlife eyes almost 3-fold sales growth in 5 yrs, to add 300 McDonald's

• Amara Raja to invest Rs 9,500 crore in Telangana battery-making unit

• Govt likely to roll back states' ability to borrow more, says report

• Oil ministry to seek compensation for petrol, diesel losses from FinMin

• MOIL registers growth of 60% during month over Oct: Steel ministry

Economic Times

• India Inc opens more doors for differently abled

• IMF says it fully supports India's G20 agenda

• G7 nations, EU, Australia agree on $60 per barrel price cap for Russian oil

• Bharti Telecom issues multiple tenor bonds worth ₹4,500 cr

• SBI Chairman Dinesh Khara says digital rupee a game changer

• Putin says strikes on Ukraine ‘inevitable’ as Kremlin rejects Biden’s demand for talks

• Goldman warns of bonus cuts for traders: Report

• NMDC records 8% jump in iron ore production at 3.61 Mn tonnes in November

• Softbank sells 5.1% stake in Policybazaar for Rs 1,043 crore

• NCLAT asks CCI to pass fresh order; review fines to save domestic tyre industry

• After FTX collapse, pressure builds for tougher crypto rules

• Fed's Barkin: labor supply likely will remain constrained

• SpiceJet to have its annual general meeting on December 26

• US adds more than expected 263,000 jobs in Nov, unemployment at 3.7%

• UPI market share rules postponed; Amazon plays down India layoffs

• NTPC coal mining output jumps 48% to 12.24 MMT in April-Nov

Mint: 

• McDonald’s south and west operator to invest ₹1,400 cr to increase store count

• Bandhan looks to diversify, focus on granular deposits

• Startups, e-commerce firms step up campus hiring at IITs

• Reliance Capital’s bidders press for clarity on process, timeline

• Public Health Foundation awarded £10 million grant for long term research

• PHD Chamber seeks single GST rate for hotels at 12%

• US assures ‘tremendous effort’ to reduce wait time for visa issuance to Indians

• States to set up district-wise price monitoring centre for essential commodities

• Germany Immigration law eased, nation needs 4L skilled workers per year

• Rise in cost of living in India lower vis-a-vis Germany and UK in last one year

• China relaxes Covid curbs, but imposes ‘emergency’ censorship on protests

• Data Protection Bill likely to be introduced in Budget Session

• NPCI extends UPI market cap deadline by 2 yrs to December '24

 

*: 🇮🇳India 🇮🇳Daybook – Stocks in News* 

 

 

*M&M Fin:* November disbursement at approximately Rs 4,500 cr, up 75% (YoY) (Positive) 

 

*Hindustan Aeronautics:* Company gets Rs 427.45 cr Income Tax refund order (Positive) 

 

*Ion Exchange:* Company bags order worth Rs 343.36 cr From Indian Oil Corporation (IOC) (Positive) 

 

*UltraTech Cement:* Company commissions Maharashtra, Madhya Pradesh grinding units. (Positive) 

 

*Tyre Stocks:* Relief for tyre cos, NCLAT remands levy of Rs 1788cr penalty back to CCI (Positive) 

 

*Canara Bank:* Bank awarded 'Banker’s Bank Of The Year' for India at Global Banking Summit (Positive) 

 

*PB Fintech:* Societe Generale and Morgan Stanley Mauritius Company picked Rs 243 crore worth of shares (Positive) 

  

*Harsha Engineers:* Receives Approval For Merger Of Its Netherlands-based subsidiary Harsha Engineers B.V. With Company (Positive) 

 

*Ashiana Housing:* Enters Into Development Agreement With Pinkcity Infracon To Develop A Group Housing Project (Positive) 

 

*Drone manufacturing companies:* Ministry of Civil issues guidelines for PLI incentive scheme to support the indigenous drone industry. (Positive) 

 

*SRF* Management Meet: Next leg of speciality chemical growth will be driven by more projects in the pharma space (Positive) 

 

*NLC India:* Company signs MoU with Govt of Odisha for Renewable Energy (Positive) 

 

*Maruti:* The company will increase the prices of its vehicles 'substantially' from next month (Positive) 

 

*NTPC:* The company is likely to get a strategic investor for its arm NTPC Green Energy by March 2023 (Positive) 

 

*MOIL:* Company produced 1.2 lakh tonne of manganese ore last month, registering a growth of 60 per cent over October (Positive) 

 

*SJVN:* The state-owned utility plaeyr said that its arm SJVN Green Energy has bagged a 200 MW solar project (Positive) 

 

*DLF* Management Meet: Underlying trends on demand continue to be strong (Positive) 

 

*Ajmera Realty:* Board approves continuation of Rajnikant S. Ajmera as CMD beyond the age of 70 years (Neutral) 

 

*SpiceJet:* Company to hold AGM on Dec 26 (Neutral) 

 

*IIFL Wealth:* Promoter Nirmal Madhu Family Private Trust offloaded shares worth Rs 94.50 crore (Neutral) 

 

*NDTV:* Vikasa India EIF I Fund sold 3.89 lakh equity shares (0.6 percent stake) in the media company (Neutral) 

 

*Veritas:* Investor Swan Energy bought 7 lakh shares or a 2.6 percent stake in the company (Neutral) 

 

*Bank of India:* The public sector lender has raised Rs 1,500 crore (Neutral) 

 

*State Bank:* Raises Rs 10,000 Cr Via Its Maiden Infrastructure Bond Issuance (Neutral) 

 

*Easy Trip* Planners to acquire 75% stake in Nutana Aviation Capital IFSC for Rs 1.5 cr (Neutral) 

 

*Dr Reddy's, Sun Pharma* recall products in US for manufacturing issues (Neutral) 

 

*Inox Green Energy:* The wind power operation and maintenance service provider posted a net loss of Rs 11.87 crore (Negative)

*: Fund Houses Recommendations*  

 

 

MS on *ICICI Bank:* Maintain Overweight on Bank, target price at Rs 1250/Sh (Positive) 

 

Jefferies on *ICICI Bank:* Maintain Buy on Bank, target price at Rs 1150/Sh (Positive) 

 

Nomura on Tech: See Divergence in The Operating Performance Of IT Cos In FY24. Infosys, TCS and Persistent* are top buys  

 

CLSA on *M&M Fin:* Maintain Buy on Company, target price at Rs 260/Sh (Positive) 

 

MS on *M&M Fin:* Maintain Overweight on Company, target price at Rs 275/Sh (Positive) 

 

MS on *Gold NBFCs:* Gold Lending Has Been A Business With Supernormal RoE (Positive) 

 

MS on *Manappuram:* Initiate Overweight on Company, target price at Rs 150/Sh (Positive) 

 

MS on *Muthoot Fin:* Maintain Equal weight on Company, target price at Rs 1150/Sh (Neutral) 

 

Citi on *Motherson:* Maintain Sell on Company, target price at Rs 68/Sh (Neutral) 

 

JP Morgan on *Persistent:* Maintain Neutral on Company, target price at Rs 4100/Sh (Neutral) 

 

MS on *RBL Bank:* Maintain Underweight on Company, target price at Rs 130/Sh (Neutral)

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