11th December, 2020 Morning Brief

Market will open on a flat note today after a cautious stance experienced yesterday as all indices witnessed profit booking.

Asian markets have begun the final trading week on a mixed note. Futures on the Dow Jones are currently trading 50 points higher. 

Major averages closed on Thursday with a rebound from early lows as investors looked for signs of progress in fiscal stimulus talks to support the economy after labor market data showed a jump in jobless claims.

The Dow Jones Industrial Average fell 69.55 points, or 0.23%, to 29,999.26, the S&P 500 lost 4.72 points, or 0.13%, to 3,668.1 and the Nasdaq Composite added 66.86 points, or 0.54%, to 12,405.81.

US jobless claims jump to 853,000 amid resurgence of coronavirus

Oil rises to $50 for first time since March on vaccine optimism. 

NSE to launch derivatives on the Nifty Financial Services Index from January 11. 

🎯 News & Impact 🎯 

🎯 Reliance : 

Spectrum bands for 5G to be announced soon: DoT official.

Positive for Reliance Jio. 

🎯 IRCTC : Non-retail OFS gets demand for 198% of the shares on offer. OFS for retail investors to open today.

🎯 Federal Mogul Goetze : Non-retail OFS gets demand for 17,681 shares out of the total 1.04 crore shares on offer.

🎯 HDFC Bank: RBI has imposed a fine of Rs 10 lakh on the bank for bouncing of SGL which lead to shortage of balance in certain securities in the bank’s CSGL account on November 19, 2020.

🎯 Dalmia Bharat : CCI has initiated investigation against cement companies, including Dalmia Cement (Bharat) Limited regarding anti-competitive behaviour.

Negative for the. 

🎯 TCS : Has expanded its business operations in Austin, Texas with the construction of a new facility, doubling its presence to more than 400 professionals in the city and adding to its 5,500+ employees across the state.

🎯 Ircon International : Awarded the work of upgradation of Gurgaon-Pataudi-Rewari section of NH-352W as feeder route in Haryana by the NHAI.

Positive for the stock. 

🎯 Gayatri Projects : Has received three Letter of Award for Pipe Drinking Water Schemes from Namami Gange and Rural Water Supply Department of Uttar Pradesh, in joint venture where the Company's share is 97.5%, for a total value of Rs 1,332 crore.

🎯 PNC Infratech : Received Letter of Acceptance for Rural Water Supply Project in 952 villages in Devipatan Division of Uttar Pradesh from the State Water Supply & Sanitation Mission, Namami Gange & Rural Water Supply Department. The approximate value of the project is Rs 952 crore.

🎯 Info Edge : Sets up an Alternative Investment Fund named Info Edge Venture Fund. The trust has been registered as a Category II AIF, sponsored through its wholly-owned subsidiary.

🎯 JSW Energy : The company’s Carbon Disclosure Project Rating has been upgraded to B in 2020 from C 2019. This is the highest rating achieved by any Power producer in India.

Positive for the stock. 

Great Eastern Shipping: Promoter Gopali Mulji sold 90,000 shares between December 8-9.

Vardhman Textiles: Promoter Vardhman Holdings acquired 55,640 shares between December 7-9.

Filatex India: Promoters Anu Bhageria and Vedansh Bhageria acquired 27.25 lakh shares between December 7-9.

NRB Bearings: Promoters Aziz Yousuf Zaveri and Harshbeena Zaveri acquired 86,089 shares between December 4-9.

Man Infraconstruction: Promoter Parag Shah acquired 1 lakh shares on December 9.

🎯 Sadbhav Infra : Promoter Sadbhav Engineering acquired 54,262 shares on December 8.

Positive for the stock. 

🎯 Adani Power : Promoter Adani Tradeline revoked pledge of 2.42 crore shares on December 7.