Stock Market News and Analysis:
Equity benchmark traded with a negative bias throughout the day as December expiry settlement weighed in. Nifty settled at 12126.55, down by 88 points and for coming session its key support is at 12070 while on higher side its resistance is at 12200.
Headlines for the day:
- Lupin's Ankleshwar facility has won Frost & Sullivan's India manufacturing excellence awards 2019.
- iramal Enterprises on Wednesday said it will raise up to Rs2,750cr by issuing bonds on private placement basis..
- The board of NIIT Technologies has approved a buyback programme worth Rs337.46c
- Manapurram Finance announed that financial resources and management committee of the board of directors of the company held on Thursday, 26th December 2019, has approved the issuance of the Private Placement of Rated, Secured, Redeemable Non-Convertible Debentures having face value of Rs10 lakh each for the amount of Rs350cr.
- Adani Green Energy share prices were locked in the upper circuit limit for the third consecutive session on the BSE in an otherwise weak market. On December 16, Adani Green's $362.5mn (about Rs2,570cr) bonds issue attracted the interest of investors worldwide, the company said on December 16. This was the first-ever deal from India to use an amortizing project finance type structure, giving foreign investors a chance to buy investment-grade bonds from India's renewable energy sector, as per media reports.
- United Breweries Limited (UBL) share prices were trading lower in the morning trade. The company stated that it's not aware of any event that hints at the possibility of Heineken raising stake in the company.
- NTPC Limited is looking to add 10GW of solar energy generation capacity by 2022, which entails an investment of around Rs50,000 crore, to be funded mainly by green bonds, PTI reported.
- HDFC Limited will raise fund up to Rs2,500 crore by issuing bonds on a private placement basis. The secured redeemable NCD’s are to be allotted on a private placement basis on Friday for an issue size of Rs2,500 crore.
- Board of Federal Bank has approved an investment of Rs22 lakh in Kerala lnfrastructure Fund Management Ltd, which is more than 5% of the paid-up Capital of KIFML. KIFML is promoted by Kerala lnfrastructure lnvestment Fund Board, to act as the investment manager of the lnfrastructure Fund Vehicles being setup by KIIFB.
- HCL Technologies Limited has announced the opening of a Global Delivery Center in Moncton, New Brunswick, Canada. The Global Delivery Center will focus on technology areas in application development, support, testing, and servicing global clients.
Calls for Tomorrow:
- CALL: BUY DMART EQ ABOVE 1928 TARGETS 1947.30/1966.60/1985.85 SL 1908.70 Description: Stock form consolidation near its immediate resistance with bullishly bias on intraday chart. Hence rally is expected above the mentioned level.
- CALL: BUY BALKRISIND EQ ABOVE 965 TARGETS 974.65/984.30/993.95 SL 955.35 Description: Stock settled near its key resistance with bullishly bias on daily chart. Hence breakout is expected ahead.