Stock market essentials: December 19

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At 11 am, Union Minister of Railways Ashwini Vaishnaw will address Google for India Summit 2022. Sundar Pichai, CEO, Google; Sanjay Gupta, Country Head, Google India to also speak at the event.

Corporate Action

Lock-in Period Ends: Five Star Business, Kaynes Technology, Inox Green Energy

KFin Technologies IPO to open for subscription from Dec 19 to Dec 21

Hinduja Global Solution: Board meet to consider buyback

Goodluck India: Board meet to consider fund raising

Bajaj Consumer: Buyback to commence via open market route

Hatsun Agro: Rights Issue to open

Sensex reconstitution: Dr Reddy’s dropped, Tata Motors included effective December 19: Agencies

Others

EU energy ministers meet in Brussels, where they’ll resume talks over a winter price cap for natural gas: Bloomberg

Russian Defense Minister Sergei Shoigu travels to India for meetings with his Indian counterpart and other officials: Bloomberg

First session of 15th Gujarat Assembly: Agencies

Oil & Gas:

Brent Crude at $79/bbl Vs $81/bbl

Singapore GRM at $9.7/bbl Vs $10.1/bbl

Asia Spot Gas prices at $35.6/mmBtu Vs $39.3/mmBtu

FII/DII DATA:

FII net sold shares worth Rs. 1975 cr on Dec 16

DII net bought shares worth Rs. 1542 cr on Dec 16

FII F&O CASH DATA:

Index futures net buy Rs 514 cr

Index options net buy Rs 1835 cr

Stock futures net buy Rs 267 cr

Stock options net buy Rs 20 cr

Total FII net buy Rs 2636 cr in F&O

BULK/BLOCK DEAL:

USSL AS TRUSTEE OF UNIVERSITIES SUPERANNUATION SCHEME bought 7.3 lac shares of GMM Pfaudler Limited at 1700

PLUTUS WEALTH MANAGEMENT LLP bought 9.5 lac shares of GMM Pfaudler Limited at 1691.44

PFAUDLER INC sold 67.86 lac shares of GMM Pfaudler Limited at 1700.14

INTEGRATED CORE STRATEGIES (ASIA) PTE. LTD. bought 3.5 lac shares of GMM Pfaudler Limited at 1700

INDUS CAPITAL ADVISORS (UK) LLP A/C INDUS INDIA FUND (MAURITIUS) LIMITED bought 3.08 lac shares of GMM Pfaudler Limited at 1690.96

ADITYA BIRLA SUN LIFE MUTUAL FUND AC BIRLA SUN LIFE EQUITY FUND bought 5.29 lac shares of GMM Pfaudler Limited at 1700

ADITYA BIRLA SUN LIFE MUTUAL FUND AC BIRLA MIDCAP FUND bought 4.41 lac shares of GMM Pfaudler Limited at 1700

CORPORATE ANNOUCEMENTS:

UPL

Announces completion of investment of INR 2,474 Crore ($300 Mn) by KKR for 13.33% stake in Advanta Enterprises, Global Pure Play Seeds Platform

This is a part of the larger corporate realignment exercise announced in October 2022 to create four distinct business platforms – Global Crop Protection (ex-India), India Agtech, Global Seeds and Manufacturing & Specialty Chemicals

To unleash growth potential of each of these platforms and unlock value for UPL shareholders by facilitating ‘fair value recognition’ of each platform.

Edelweiss Financial Service + L&T

Edelweiss backed platform (EAAA) Signed definitive agreements to acquire 100% equity stake in L&T Infrastructure Development Projects Limited (L&T IDPL) from existing shareholders – L&T (51%) and CPP Investments (49%)

Proposed acquisition will be for an enterprise value of approximately INR 6,000 cr

L&T IDPL portfolio comprises nine operating assets – eight roads spanning ~4,900 lane-kms and one power transmission asset covering ~960 ckms

Sun Pharma

Company has received Warning Letter from USFDA for the Halol facility. The Warning Letter summarizes violations with respect to Current Good Manufacturing Practice (cGMP) regulations

Mastek

Co made a strategic investment in VolteoEdge, a SaaS company with an enterprise-ready Edge Intelligence Platform that enables secure IoT workflows and makes business workflows smarter

Tech Mahindra

-Co has approved sale of 100% stake in Dynacommerce Holdings B.V., a wholly owned subsidiary of the Company to Comviva Netherlands B.V., a step-down subsidiary of the Company

-Consideration received from sale/disposal: Euro 6.6 million

Dilip Buildcon

Receipt of letter of acceptance (LOA)

for a new HAM project “4-Laning of karimnagar Warangal Section of NH-563” in the state of Telangana, Order worth Rs. 1647.00 Crores.

for a new HAM project ‘Development of 6 Lane- Maradgi S Andola to Baswantpur in the state of Karnataka, Order worth Rs. 1589.00 Crores

The Phoenix Mills Limited

– The Phoenix Mills Limited announces acquisition of a city-centric, 7.22 acre land parcel in Surat, Gujarat for developing a premium retail destination

– A total consideration of approximately Rs. 510 crores

Tata Motors

Co announced that Bengaluru Metropolitan Transport Corporation (BMTC) has signed a definitive agreement with its fully owned subsidiary, TML Smart City Mobility Solutions Ltd. for operation of 921 electric buses in the city of Bengaluru

Mahindra CIE

-Co had informed about investment in equity shares of Sunbarn Renewables Private Limited for sourcing green energy on captive basis for optimizing the power cost

-Co has further subscribed 2,40,000 equity shares of Rs. 10/- each of Sunbarn which will constitute 26.12% of the post-issue paid-up capital

GMR Airports Infrastructure Limited

GMR Airports International BV (GAIBV) has today received an amount of ₹ 1389.90 Crore, against the sale of shares in GMR Megawide Cebu Airport Corporation (GMCAC) and the issuance of exchangeable notes to Aboitiz InfraCapital Inc (AIC)

Shilpa Medicare

Co has introduced Capecitabine 1000 MG dispersible tablet for the first time in the world, with novel technology of faster dispersion within 90 seconds

Suryoday Small Finance

Mr. Baskar Babu Ramachandran, Managing Director and Chief Executive Officer of the Bank that he has sold 50,00,000 shares today (16-Dec-2022) for approximately Rs 55.44 Crores to close a loan availed by him

RITES

Keystone Realtors

Entered into a joint development Agreement (dated December 15, 2022) with Raj Doshi Exports Pvt Ltd

Dr Reddy’s Lab

Dr. Reddy’s Research and Development B. V., a wholly owned subsidiary of the Company, has entered into an Asset Purchase Agreement for sale of its certain assets and liabilities

3i Infotech

Co have been awarded Wi-Fi Monetisation Project (‘the WiFi Monetisation Project’) by RailTel Corporation of India Limited, with the Company being the lead bidder

Order worth: Rs. 250 cr

Ashoka Buildcon

Subsidiaries of Ashoka Buildcon – Ashoka Concessions Limited (ACL) & Viva Highways Limited (VHL), have entered into a share purchase agreement with National Investment and Infrastructure Fund Limited (NIIF) and Jaora Nayagaon Toll Road Company Private Limited (JTCL)

Sale of stake constituting 100% of the share capital of JTCL, from ACL and VHL to NIIF

Consideration of Rs. 691 cr

Exxaro Tiles

Official of the CBI, ACB, Gandhinagar Department conducted search at the Company’s Registered Office at Talod, Corporate Office at Ahmedabad, one Display center at Ahmedabad, and residence of Mr. Mukeshkumar B. Patel, Managing Director of the Company on 17th December 2022

In context of searching for documents in relation to Gas Supply agreement executed between the Company and ONGC in 2014

Foods & Inns

Securities Allotment Committee of the Board considered and approved the Allotment of 2.22 cr Equity warrants at a price of Rs. 95/- per warrant

Aggregating to Rs. 210.53 cr

Nelcast

Gudur Plant has resumed its operation with effect from Dec 18

Had intimated on Dec 12 regarding temporary disruption of operations

OTHER NEWS

Indraprastha Gas Ltd (IGL) increases CNG prices with effect from today

Boeing Closes In on Big 737 Max Order From Tata’s Air India

India Implementing 241 Port Modernizations at INR2.4T Cost

World Bank in $150M Loan Pact with India, Solar Energy Corp.

GST Council Meet:

-GST Council approved decriminalising certain laws

-Threshold for prosecution has been increased from Rs 1 cr to Rs 2 cr

– Council approved tax clarification on cess for certain items

– 5% GST on ethyl alcohol extended to refineries for blending with petrol

– No claim bonus by insurance cos will not attract GST

– GoM on online gaming will be circulated to all states

– Council approved cess clarification on SUVs

– GST Councils will decide how to go about tax issues in online gaming

India Official Reserves Rise to Highest Since August

Official reserve assets of India rose $2.91b, or 0.5%, from the previous week to $564.1b on Dec. 9, according to Reserve Bank of India figures.

Reserves down 11% from the same period last year

Gold down 0.7% W/w, up 6% Y/y to $40.7b

Foreign currency assets up 0.6% W/w, down 13% Y/y to $500.1b

Special Drawing Rights (SDR) up 0.3% W/w, down 5.3% Y/y to $18.1b