Experts Financial News

TCS and HDFC Bank. The BSE Sensex was trading 56 points or 0.08% higher at 71,370. Nifty50 was trading at 21,426, up 8 points or 0.04% at around 9.18 am. From the Sensex stocks, Nestle India, Sun Pharma, Reliance Industries, NTPC, and Maruti opened in the green, while TCS, HDFC Bank, IndusInd Bank, and Kotak Bank opened in the red. Among individual stocks, Apollo Tyres opened 7% higher amid a 4.5% block deal in the counter. Vedanta shares opened 2.4% higher after the company declared a second interim dividend of Rs 11 per share for fiscal 2024.

Gautam Adani, who has survived the 2008 terror attack in Mumbai's Taj Hotel and kidnapping incident in 1998, is walking out of 2023 after suffering a loss of about $35 billion from the Hindenburg attack. Following the Hindenburg controversy and subsequent investigation by markets regulator Sebi on allegations of share price manipulation, the 61-year-old tycoon saw the highest decline in his personal wealth globally, data from Bloomberg Billionaires Index shows. In pre-Hindenburg days, the maverick businessman's wealth saw a gravity-defying one-way movement that took him to the position of world's second richest man for a brief period. With his fortune being estimated at around $85 billion, Adani is now the second richest Indian after Mukesh Ambani. In the world order of billionaires, the school dropout now stands at the 15th spot after losing over 29% of his wealth in the worst crisis faced by the apples-to-airport conglomerate’s history. The combined market capitalisation of all 10 listed Adani stocks has now fallen to about Rs 14 lakh crore from over Rs 19 lakh crore before the Hindenburg report was released. At one point during the year, almost 60% of Adani's wealth was wiped off following non-stop selling of Adani stocks.

By Scott Murdoch and Melanie Burton

Credo Brands Marketing IPO: The initial public offering (IPO) of Credo Brands Marketing Limited has opened today and it will remain open till 21st December 2023 i.e. till Thursaday this week. This means, Credo Brands IPO date of subscription will remain open from Tuesday to Thursday this week.

₹52 to ₹55 per equity share of the face value of ₹10.Motisons Jewellers IPO comprises a fresh issue of shares of up to 2,74,71,000 equity shares of face value of ₹10 each, as per Red Herring Prospectus (RHP).Motisons Jewellers Limited sells jewellery crafted from gold, diamonds, and kundans in addition to other jewellery items made of metals like pearl, silver, platinum, and other alloys.Motisons Jewellers IPO comprises a fresh issue of shares of up to 2,74,71,000 equity shares of face value of ₹10 each, as per Red Herring Prospectus (RHP).The company intends to use the net proceeds of the fresh offering to finance the following goals: meeting the company's working capital needs; general corporate purposes; and repaying the company's outstanding loans from scheduled commercial banks.The registrar of the Motisons Jewellers IPO is Link Intime India Private Ltd, and the book running lead manager of the offering is Holani Consultants Private Limited.Motisons IPO GMP today or Motisons IPO grey market premium is +109, similar to the previous session. This indicates Motisons Jewellers share price were trading at a premium of ₹109 in the grey market, according to investorgain.com.Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Motisons Jewellers share price was indicated at ₹164 apiece, which is 198.18% higher than the IPO price of ₹55.Based on last 16 sessions grey market activities, today IPO GMP points upward and expects a strong listing.

The admissions from these usually gloomy forecasters mark a turning point after they advised clients to stay cautious on US stocks this year — even as the market surged toward double-digit gains that have left major indexes at or near record highs. Heading into 2023, prognosticators had warned that higher rates would tip the economy into recession and erode corporate earnings, spurring an equities selloff. Instead, the labor market, consumers and US firms have been resilient, propelling the S&P 500 to a roughly 24% advance. Some strategists still dug in their heels, saying that the lagged impact of elevated borrowing costs would eventually deliver a reality check to investors.

“Indian markets are not necessarily in the bubble zone as of now. Markets are certainly in the higher than long-term average zone, but not in the Bubble zone," Rohit Agarwal, Senior Executive Vice President and equity Fund Manager,Kotak Mahindra Life Insurance Company Limited. In an interview with ETMarkets, Agarwal said: “In the last 3 years or so, market earnings have beaten the market expectations. Going forward, market expectations are mid-teens type of earnings,” Edited excerpts: The month of December started on a robust note with benchmark indices hitting fresh record highs. Where is the market headed in 2024? The macro has improved recently. With the State election results throwing some positive surprises, the equity markets have rallied.

global market cues. The trends on Gift Nifty also indicate a muted start for the Indian benchmark index. The Gift Nifty was trading around 21,465.00 level as compared to the Nifty futures’ previous close of 21,466.00.

Happy Forgings IPO: The initial public offering (IPO) of Happy Forgings Limited has opened today and it will remain open till 21st December 2023 i.e. till Thursaday this week. This means, Happy Forgings IPO date of subscription will remain open from Tuesday to Thursday this week.

Artificial intelligence company OpenAI laid out a framework to address safety in its most advanced models, including allowing the board to reverse safety decisions, according to a plan published on its website Monday. Microsoft-backed OpenAI will only deploy its latest technology if it is deemed safe in specific areas such as cybersecurity and nuclear threats. The company is also creating an advisory group to review safety reports and send them to the company's executives and board. While executives will make decisions, the board can reverse those decisions.

Day trading guide for today: After logging gains for seventh week in a row, Indian stock market ended lower on Monday. Nifty 50 index finished 38 points down at 21,418 levels, BSE Sensex corrected 168 points and closed at 71,315 mark while Bank Nifty corrected 275 points and finished at 47,867 levels. In broad market, small-cap index gained 0.48 per cent while mid-cap index added 0.28 per cent.

Buy or sell stocks for today: After logging gains for seventh week in a row, Indian stock market ended lower on Monday. Nifty 50 index finished 38 points down at 21,418 levels, BSE Sensex corrected 168 points and closed at 71,315 mark while Bank Nifty corrected 275 points and finished at 47,867 levels. However, broad market outperformed key benchmark indices.

Bank of Baroda (BoB) are the government-owned lenders leading the way. SBI said in August that it wants to hire a consultant to measure carbon footprints in its loan portfolio, and benchmark the bank’s loan mix based on high- and low-emitting sectors, while taking into account the portfolios of other local and global peers. SBI also raised a $1 billion syndicated social loan in February, arranged by MUFG Bank and Taipei Fubon Commercial Bank, which it said was the largest ESG (environment, social, governance) loan by a commercial bank in Asia Pacific and the second-largest social loan globally.

LIC), the country's biggest institutional holder of marketable securities, is officially an anchor investor for an upcoming bond sale by the National Bank for Agricultural and Rural Development (Nabard), marking the first such occurrence in India's corporate debt market. Investment documents seen by ET showed that LIC is the anchor investor for the ₹5,000-crore infrastructure bond sale by Nabard on December 20. Besides the base, the issuer also has a green shoe option of ₹5,000 crore.

promoter entities of Sapphire Foods, operator of KFC and Pizza Hut chains in India, sold shares worth 530 crore through block deals Monday. Sapphire Foods Mauritius divested 33.37 lakh shares, constituting 5.24% of the total equity capital, while Samara Capital Partners sold 4.49 lakh shares, equivalent to 0.71% of the total equity, at an average price of Rs 1,400 per share.

Federal Reserve's hints of rate cuts in 2024 and a plunge in US bond yields have paved the way for Indian sovereign bond yields to ease, although a sustained drop in borrowing costs would hinge on how the Reserve Bank of India (RBI) manages liquidity amid its battle against inflation. Easing sovereign bond yields make it cheaper for companies to raise money through bonds, as corporate borrowing costs are benchmarked to the rate of interest that the government pays to raise funds through debt. Since the US Federal Open Market Committee's policy statement on December 13, yield on the 10-year benchmark Indian government bond has dropped by 10 basis points (bps) to close at 7.16% on Friday. The Fed left interest rates unchanged while a majority of its officials signalled lower interest rates in 2024.

Credo Brands Marketing, an apparel retailing company known for its flagship men's apparel brand Mufti, is rolling out a ₹550-crore offer for sale (OFS) in which the promoter and the promoter group are diluting their stake from 66.7% to 53.6%, with no money coming to the company. Business At the end of September 2023, the company sold its products through 404 exclusive brand outlets, 71 large-format stores, 1,332 multi-brand outlets as well as online marketplaces. About 90% of its revenues are earned from offline channels.

Sapphire Foods In Sapphire Foods, promoter group entities – Sapphire Foods Mauritius and Samara Capital sold stakes in the company through the open market. Archean Chemical Industries Archean Chemical Industries, Piramal Enterprises sold 3.4% stake through the open market for around Rs 252 crore. PNC Infratech The company has been declared Ll (first lowest) bidder in a Madhya Pradesh Road Development Corporation's (MPRDC) highway project. Read more: Here's the trade setup for today's session Nestle Nestle India has fixed January 5 as the record date to determine eligible shareholders for the stock split announced by the company in October. NHPC A Board meeting of NHPC is scheduled to be held on December 22 to consider the proposal regarding monetization of future cash flow of one or more power station(s) of the company for suitable tenure. Sun Pharma Sun Pharma has entered into agreement to acquire 16.7% shares on a fully diluted basis, in Lyndra Therapeutics engaged in the business of developing novel delivery technology for long-acting oral (LAO) therapies.

«Overall we remain bullish on the market given the robust domestic economic data, healthy corporate earnings, and strong FII flows. However, given the recent strong rally, bouts of volatility can’t be ruled out,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal. Here's breaking down the pre-market actions: STATE OF THE MARKETS

Easy Trip Planners Ltd and Paul Merchants Ltd will be in focus when the stock market opens on Tuesday (December 19). The Board of Directors of these companies have declared interim dividend and bonus issue for the eligible shareholders. Easy Trip Planners: The company has declared an interim dividend of ₹0.10 per share.

1) Happy Forgings IPO Dates: Happy Forgings IPO opens for subscription on Tuesday, December 19, and will close on Thursday, December 21. The IPO allotment is expected to be finalized on December 22.