22nd December, 2020 Morning Brief

Market will open on a positive note today after yesterday's fall.

Futures on the Dow Jones are trading lower by 40 points. Asian markets are trading lower this morning, after Wall Street joined a global decline on the back of a new Coronavirus strain in the U.K.

The S&P 500 closed lower on Monday, having clawed its way back from steep losses early in the session as investors juggled the outbreak of an ominous new strain of COVID-19 with the passage of a long-anticipated stimulus package.

The Dow Jones Industrial Average rose 37.4 points, or 0.12%, to 30,216.45, the S&P 500 lost 14.49 points, or 0.39%, to 3,694.92 and the Nasdaq Composite dropped 13.12 points, or 0.1%, to 12,742.52.

🎯 News & Impact 🎯

Antony Waste Handling Cell IPO : Issue subscribed 1.98 times on the first day of bidding.

Ex-Date Stock Split (From Rs 10 to Rs 5): Starlineps Enterprises 

🎯 Lupin : Has received approval for its Rufinamide Oral Suspension, 40 mg/ml, from U.S. FDA, to market a generic equivalent of Banzel Oral Suspension, 40 mg/ml, of Eisai Inc. 

🎯 Tata Motors: To increase commercial vehicle prices from January 1, 2021.

🎯 JSW Steel : JSW Steel’s Italian unit has entered into a share purchase agreement with Industrial Development Corporation, South Africa to acquire 30.73% of GSI Lucchini S.p.A. for a cash consideration of 1 million Euros.

🎯 Wendt : The offer for sale to sell 4.74% of total equity stands withdrawn.

🎯 Kolte-Patil Developers : Announces second phase of strategic land monetisation for Sector R10 of Life Republic with U.K.-based Planet Smart City for Rs 81 crore.

🎯 Cyient : Beijing Administration for Industry and Commerce has approved the de-registration of the company’s wholly-owned subsidiary Cyient Engineering (Beijing) Ltd.

🎯 Indian Bank : The Special Resolution for appropriation of accumulated losses of Rs 18,975.53 crore was passed with requisite majority by the shareholders of the bank during the EGM.

🎯 Thermax: Increased its stake in First Energy Pvt. Ltd. to 100% from 76% by acquiring the remaining stake. With this, First Energy becomes a wholly-owned subsidiary of the company.

🎯 United Spirits : Has completed the sale of all the shares held in its subsidiary Liquidity Inc. With this, Liquidity Inc. ceases to be a subsidiary of the company.

🎯 Future Enterprises : Defaults on payment of interest of Rs 13.91 crore due on Non-Convertible Debentures. Negative for the stock. 👎🏻

🎯 Filatex India : Promoters acquired 6.05 lakh shares on December 17. Positive for the stock. 👍

🎯 Great Eastern Shipping : Promoter Gopal Mulji sold 10,000 shares on December 18. Positive for the stock. 👍

🎯 Godrej Agrovet : Promoter Godrej Industries acquired 19,040 shares on December 16. Positive for the stock. 👍

🎯 Chambal Fertilisers : Promoter Zuari Global revoked pledge of 17 lakh shares between December 17-18. Positive for the stock. 👍 

🎯 LG Balakrishnan & Bros : Promoter V Rajvirdhan revoked pledge of 26.03 lakh shares on December 18. Positive for the stock. 👍

🎯 The Ramco Cements : Promoter Saradha Deepa created a pledge of 2.48 lakh shares on December 16. Negative for the stock. 👎🏻

🎯 Adani Enterprises : Promoters Gautam Adani and Rajesh Adani revoked pledge of 38.32 lakh shares on December 18. Positive for the stock. 👍

🎯 Adani Ports & SEZ : Promoters Gautam Adani and Rajesh Adani revoked pledge 1.27 crore shares on December 18. Positive for the stock. 👍

🎯 Adani Transmission : Promoters Gautam Adani and Rajesh Adani revoked pledge of 84.97 crore shares on December 18. Positive for the stock. 👍

🎯 Adani Green Energy : Promoters Gautam Adani and Rajesh Adani revoked pledge of 48 lakh shares on December 18. Positive for the stock. 👍

🎯 Jindal Steel & Power : Promoters Danta Enterprises and Glebe Trading revoked pledge of 12.12 lakh shares between December 15-16. Positive for the stock. 👍