Stock Market Updates Today: Zee Entertainment, Lupin, Tata Power in Focus

Dalal Street witnessed yet another bull run on December 15 with Sensex, Nifty and Bank Nifty hitting record highs. At close, Sensex surged 969 points or 1.37 percent at 71,483.75. Nifty zoomed 274 points or 1.29 percent and closed the session at 21,456.70.

On the technical front, Nifty formed yet another strong bullish candle on the daily chart for the second consecutive day in a row to register a fresh all-time of 21492.

About 1,346 stocks advanced and 1,154 stocks declined while 117 stocks remained unchanged on NSE.

Stocks on the radar

Zee Entertainment: The company on Sunday sought an extension to complete its proposed merger with Sony India. The cutoff date for concluding the merger, which will create India’s biggest media conglomerate, is December 21.

SBI: Chairman Dinesh Khara stated that the bank has slowed unsecured retail loans as it will focus on ‘healthy’ growth, even though steady demand from corporates is expected to maintain overall loan growth at 15 percent in FY24.

Bata India: The shoe maker has inked a licence agreement with Nine West. Bata will manufacture in India and sell its footwear and accessories (handbags). Further, is also pushing its Floatz product line to grab a share of the moulded footwear market but at a lower price than Crocs and Birkenstock.

NTPC: The firm plans to add 800 megawatt (Mw) capacity to its Sipat Super Thermal Power Station in Chhattisgarh’s Bilaspur district.

Mazagon Dock Shipbuilders: The company signed individual shipbuilding contracts with the European client to construct three units of 7,500 DWT multi-purpose hybrid powered vessels. The contract’s value is approximately $42 million.

Lupin: The United States Food and Drug Administration has approved Lupin’s abbreviated new drug application for Allopurinol tablets USP, 100 mg and 300 mg to market a generic equivalent to the reference listed drug (RLD), Zyloprim tablets, of Casper Pharma LLC.

Tata Power: Tata Power Solar Systems, a wholly owned subsidiary of Tata Power Renewable Energy, has signed a contract to supply 152 MWp DCR solar PV modules for NTPC’s Nokh solar PV project in Rajasthan.

Wall Street ends mixed

Wall Street stocks wobbled to a mixed close and the dollar bounced back on Friday. Market participants caught their breath at the end of a week loaded with central bank policy decisions and crucial economic data.

The Dow Jones Industrial Average rose 56.81 points, or 0.15%, to 37,305.16. S&P 500 lost 0.36 points, or 0.01%, to 4,719.19 and the Nasdaq Composite added 52.36 points, or 0.35%, to 14,813.92.

DOMS Industries IPO Sees Robust Subscription, Issue Booked 93.38 Times

Asian shares slip into BOJ meeting, US inflation test

Asia stocks slipped on Monday in a subdued start to a week where Japan’s central bank might edge further away from its uber-easy policies. A key reading on US inflation is expected to underpin market pricing of interest rate cuts in the US, according to a Reuters report.

Japan’s Nikkei lost 1.2%, weighed in part by a firm yen. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.5%.

Oil climbs nearly 1% on drop in Russia exports, Red Sea jitters

Oil prices rose nearly 1% in early Asian trade on Monday. Lower exports from Russia supported it, while concerns about oil supply disruption increased due to attacks by the Houthis on ships in the Red Sea. Brent crude futures climbed 69 cents, or 0.9%, to $77.24 a barrel by 0037 GMT. US West Texas Intermediate crude was at $72.08 a barrel, up 65 cents, or 0.9%.

Bulk Deals:

Kfin Technologies Limited: General Atlantic Singapore Fund Pte Ltd sold 17000000 shares at Rs 500.5 per share

PVR Inox Limited: Plenty Private Equity Fund I Limited sold 1076258 shares at Rs 1753 per share

J.Kumar Infraprojects: Abakkus Diversified Alpha Fund bought 500000 shares at Rs 455.5 per share

Updater Services Limited: BoFA Securities Europe SA sold 400000 shares at Rs 303.5 per share

Policy Baazar: Svf Python II Cayman Limited sold 11421212 shares at Rs 800.05 per share

Stocks under NSE Ban:

Balrampur Chini, Delta Corp, Hindustan Copper, India Cement, Manappuram Finance, SAIL, Zee Entertainment.

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 9,239.42 crore. Domestic institutional investors (DIIs) sold Rs 3,077.43 crore worth of stocks on December 15.

_{Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.}