Closing Index

 10 Dec 2020 

BSE CLOSED @ 45959.88 ❌ 143.62 Points 

NSE CLOSED @ 13478.30 ❌ 50.80 Points 

BankNifty Closed 30510.35 ❌ 199.05 Points 

India VIX Closed 18.7125 ❌ 0.2075 Points.

Asian Market Updates

 Asian Stocks Retreat After U.S. Tech Giants Slide: Markets Wrap

Asian stocks slipped Thursday after U.S. technology giants dragged Wall Street benchmarks lower amid dimming prospects for fresh stimulus. The pound fell amid a stalemate in Brexit negotiations.

Shares in South Korea saw the brunt of losses, while those in Japan and Australia saw more modest declines. S&P 500 futures were little changed after the gauge slid from a record, and the Nasdaq 100 had its biggest slump in a month. Facebook Inc. sank after being sued by U.S. antitrust officials, while Tesla Inc. tumbled as JPMorgan Chase & Co. called it “dramatically” overvalued. The dollar was steady and Treasury yields ticked lower.

Talks between U.K. Prime Minister Boris Johnson and European Commission President Ursula von der Leyen ended without a breakthrough on Wednesday night as large gaps remain between the two sides. They agreed to continue talks over the next few days. Crude oil fluctuated.

Equities are coming under pressure as a U.S. stimulus deal remains elusive amid the most-intense negotiations over a Covid-19 package since Election Day. The Democratic and Republican lawmakers working on a relief plan delivered a more-detailed summary of their proposal, but haven’t yet resolved the deadlock over a business liability shield as well as aid to state and local governments.

“The idea here is that you’re not going to see a huge stimulus package,” Matt Brill, senior portfolio manager at Invesco, said on Bloomberg TV. “You are probably going to get something done, but it’s probably not going to be enough to put a lot of pressure on rates overall.”

Later Thursday comes the European Central Bank policy decision and a press briefing from Christine Lagarde. Economists widely expect the central bank to increase and extend its pandemic bond-buying program.

Fno Ban Stocks 10.11.2020

Stock under F&O ban on NSE 10-Dec-20

1 PNB

Corporate Actions

Today's Corporate Action 10th Dec Ex Date

GARFIBRES Buy Back of Shares

INFIBEAM Spin Off

LEX E.G.M.

RUSHIL Final Dividend - Rs. - 0.5000

SBTL Reduction of Capital

SHAHLON Dividend - Rs. - 0.2500

WIPRO Buy Back of Shares

Today's Key Results/Board Meetings 10-Dec-20

ECORECO Quarterly Results

GOBLIN General

Vaswani Industries: The board will meet for general purposes on December 10.

HLE Glascoat: The board will meet on December 10 for the issuance of warrants and the preferential issue of shares.

Canara Bank: The board will meet for general purposes on December 10.

Eco Recycling: The board will meet on December 10 for quarterly results.

Stocks in the news

TCS: The company said the date of opening of the share buyback is December 18 and the date of closing is January 1.

Eveready Industries: The company has denied reports of Dabur promoters buying a controlling stake in it.

Cerebra Integrated Technologies: The company has been assigned a rating of ‘CRISIL BB+/Stable/CRISIL A4+'.

Federal-Mogul Goetze (India): IEH FMGI Holdings LLC, promoter of the company has informed about the offer for sale up to 1,15,43,531 shares of the face value of Rs 10 each of the company on December 10.

Varroc Engineering arm VarrocCorp Holding BV acquired balance 30 percent stake of VARROC- ELBA ELECTRONICS SRL held by ELBA SA, Romania for consideration of €1.05M

M&M: The company subscribed shares of Sampo Rosenlew Oy, Finland, increase voting rights from 74.97 percent to up to 79.13 percent.

Jai Corp: The company to redeem 6,00,000 non-cumulative, non-participating redeemable preference shares on December 11, 2020.

IRCTC: Government intends to sell 20% stake in the company through an Offer for Sale. The initial sale will be of 15% stake or 2.4 crore shares with a greenshoe option of another 5% stake or 80 lakh shares. Floor price of Rs 1,367 per share is a 15% discount to Wednesday's closing price. The OFS for non-retail investors opens on December 10 while for retail investors it opens on December 11.

Mahindra & Mahindra: The company has said that its automotive division will be affected by the global supply shortage of micro-processors (Semiconductors) used in Electronic Control Units, supplied by Bosch. The company anticipates a reduction in production and sales volume of itself and its subsidiary MVML in the fourth quarter of FY21. The estimation of likely reduction in production / sales is not ascertainable at this stage. Tractor operations and manufacturing of three-wheelers remains unaffected due to this shortage.

TCS: Share buyback opens on December 18 and will close on January 1, 2021. The company on October had announced plans to buyback shares worth Rs 16,000 crore at Rs 3,000 per share. The proposal was given approval by the company's shareholders in November.

Maruti Suzuki India: To increase prices across models in January 2021. The company said that it has become imperative to pass on some of the impact of the rise in cost of the company's vehicles which was adversely impacted due to rise in various input costs.

ICICI Securities: OFS for non-retail investors gets demand of 4.4 times the shares of offer. Bids were received at an indicative price of Rs 459.34 per share, as per Bloomberg. OFS for retail investors opens today.

Federal-Mogul Goetze: The company's promoter plans to sell 1.15 crore shares or nearly 21% of the total equity through the OFS. The floor price of 335 rupees per share is a 4% discount to Wednesday's closing price. This OFS too opens for non-retail investors on December 10 and for retail investors on December 11. The promoter needs to bring down his stake to 75% by January 2021. As per the latest shareholding pattern, the promoter holds 96.8% stake in the company.

Varroc Engineering: VarrocCorp Holding B.V., a wholly-owned subsidiary of the company, has acquired the remaining 30% stake or 60,000 equity shares of Varroc-Elba Electronics held by the other JV Partner, Elba SA, Romania for an aggregate consideration of €1.05 million. After the acquisition, Varroc Elba has become a ‘wholly-owned subsidiary’ of VarrocCorp Holding and in turn a ‘step-down subsidiary’ of the company.

Glenmark Pharmaceuticals: Has redeemed $18,25,00,000 in aggregate principal amount of its 2021 Notes, representing approximately 91.25% of the aggregate principal amount of the 2021 Notes at the time of initial listing. As on the date of this announcement, $1,75,00,000 in aggregate principal amount of the 2021 Notes remain outstanding

Paisalo Digital: Antara India Evergreen Fund has acquired 5.08 lakh shares of the company on December 7. The total shareholding of the fund stands at 15.04 lakh shares i.e. 5.91%. 

Some key events coming up

Thursday brings the European Central Bank policy decision and a press briefing from Christine Lagarde. Economists widely expect the central bank to increase and extend its pandemic bond-buying program.

The FDA meets to discuss the vaccine made by Pfizer/BioNTech on Thursday.

Jobless claims data are due in the U.S. on Thursday.

These are some of the main moves in markets:

Stocks

The S&P 500 declined 0.8% as of 4 p.m. New York time.

The Stoxx Europe 600 Index advanced 0.3%.

The MSCI Asia Pacific Index climbed 0.5%.

Currencies

The Bloomberg Dollar Spot Index increased 0.1%.

The euro dipped 0.2% to $1.2082.

The British pound gained 0.3% to $1.3401.

The Japanese yen was little changed at 104.21 per dollar.

Bonds

The yield on 10-year Treasuries increased two basis points to 0.93%.

Germany’s 10-year yield rose less than one basis point to -0.61%.

Britain’s 10-year yield climbed less than one basis point to 0.261%.

Commodities

West Texas Intermediate crude was little changed at $45.57 a barrel.

Gold fell 1.6% to $1,840.07 an ounce.