The coming week is the final week of the calendar year 2023. The domestic traders may witness volatility due to F&O December series expiry slated during the week. Markets will continue to take direction from global as well as domestic factors. On the macro front, market participants will be watching India’s infrastructure output or eight core sector data to be out on December 29, for further cues. Infrastructure output in India rose by 12.1 pct year-on-year in October 2023, accelerating from an upwardly revised 9.2 pct growth in the previous month. At present, recent high of 71,913 poses immediate hurdle for Sensex and we expect selling pressure to prevail on close below 70,400.
Sensex 30 Chart
Stocks to watch
Positive Read through
- Biocon – Partners Sandoz for distribution of Adalimumab bs injection in Japan.
- UPL – To raise funds up to Rs. 42,000 mn via rights issue.
- Lupin – To buy Sanofi Plc’s established PDTS portfolio in Europe for Rs 910 mn.
- RBL bank – Yogesh Dayal’s term as RBI- appointed additional director ends.
- JSPL – Enters into an MoU with Rashtriya Ispat Nigam for blast furnace-3.
- Rites – Signs MoU with North Eastern Electric Power Corp for consultancy works.
- TV18 – As per reports, Reliance-Disney to merge Indian media operations in 51:49 JV.
- EMS – Get letter of award from Urban Development Department awards worth of Rs 3.56 bn.
- Anupam Rasayan – Rs 5.07 bn Lol with Japanese chem company for new-age polymer supply.
- Talbros – To Divest entire 40 pct stake in JV Company Nippon Leakless Talbros for Rs. 818 mn.
- LT Foods – MP HC Gives order in favour of company, allows insurance claim of Rs. 1.61 bn.
- Godrej Prop – Sells over 600 Flats worth of Rs. 26 bn at launch of Godrej Aristocrat Project.
- NTPC – Renewable Energy unit wins bid for 900 MW solar projects.
- Jindal Steel – Entered into a MoU with RINL for the operationalization of RINL’s Blast Furnace-3.
- KPI Tech – Acquires 13 pct stake in N-Dream AG.
- NDTV – Rs. 8,200 mn civil suit against arm by Ankiti Bose, has been settled.
Negative Read through
- Infosys – Global client terminates potential USD 1.5 bn deal.
- Wipro – Denies rumours of Fmr L&T Infotech CEO Sanjay Jalona joining company.
- Aurobindo – US FDA issues 10 observations for new injectable unit of arm Eugi.
- Zydus Life – Us FDA issues 6 observations for Api site at Changodar, Ahmedabad.
- Adani Wilmar – Promoters to sell 1.24 pct via open market to meet MPS norm.
- Paytm – Al-led change will reduce workforce, core business may see 15,000 layoffs.
- Vedanta – Arm BALCO receives Rs 840 mn GST demand from Bilaspur authorities for FY17-18.
- MedPlus – Gets an order from the Drugs & Control Authority on the suspension of its drug license for 5 days.
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