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Tata Steel , Jindal Steel and Power , JSW Steel and Steel Authority of India have seen their share prices rise 9-28% year to date during 2023. The gains have been led by strong steel demand in the country even though steel prices and raw material prices saw regular volatility. The steel demand remained exceptionally strong led by Government’s spending on Infrastructure during 2023.

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Read here: Nifty 50 valuations are rich, offer 8-10% upside in 2024, says HDFC Securities; lists out stocks to accumulate next year Margin benefits for commodity consuming sectors due to deflation in commodity prices are largely done, so any growth hereon must be volume led, it said. The Retail Research at HDFC Securities has included Advanced Enzyme Technologies and Swaraj Engines in their fundamental picks and expects the stocks to give decent returns in two-to-three quarters. HDFC Securities forecasts revenue, EBITDA and PAT CAGR of 13.5%, 21% and 22% over FY23-25E for Advanced Enzyme Technologies which would be led by strong growth across all segments.

Also Read: FPIs pump ₹42,733 in Indian equities in Dec; Inflows rise after US Fed stance This impressive rally prompted investors to book profits, resulting in a 1.41% dip in the Nifty 50 on December 20. However, analysts anticipate this minor setback to be short-lived, with expectations of a rebound towards the year's end. Despite subdued performances from heavyweight stocks like Reliance Industries, HDFC Bank, and Infosys, the index's rally found support from the automotive and financial sectors in 2023.

Shipping Corporation of India and Great Eastern Shipping Company after correcting 1.7-5.8% on Wednesday though rebounded on Thursday , nevertheless analysts remain cautiously watchful. Houthi attacks have started disrupting and shutting down red sea merchant ships. Ever since the Israel- Hamas Conflict started on October 7th, there have been rising incidents of attacks on commercial vessels in the Red Sea being reported.

Cochin Shipyard Ltd, part of the shipbuilding space, has rallied by about 20% in a month which helped the stock to breakout from a rounding bottom pattern on the daily charts. The breakout has opened room for the stock to head above 1500 levels in the next 3-4 months, suggest experts. The stock rose from Rs 1081 as on 17th November 2023 to Rs 1307 recorded on 19 December 2023 which translates into an upside of over 20% in a month. The stock hit a record high of Rs 1337 on 19 December. The stock faced resistance above 1200 levels in September 2023 and it failed to hold on to the momentum.

₹550 crore initial public offering (IPO) of Mufti Menswear brand owner Credo Brands Marketing (CBML) opened for subscription on Tuesday, December 19, and will close today, December 21. The company has a price band of ₹266-280 per share for the issue. Subscription: On the final day of bidding itself, the issue was subscribed 9.34 times by 11:10 am.

ED has summoned Kejriwal for questioning in the Delhi excise policy-linked money laundering case today i.e. on 21 December. However on Wednesday, he left for an undisclosed location for a 10-day Vipassana meditation course.

rupee settled at 83.17 against the dollar. Lower greenback index weighed in favour of the local currency amid rising concerns over disruption in global trade through the Red Sea route, forex traders said. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) “Rupee is likely to appreciate today amid weak dollar, decline in US treasury yields across the curve and softening of crude oil prices.

₹1,008.59 crore from the initial public offering (IPO). Also Read: Happy Forgings IPO Day 1: Issue subscribed 2.31 times; retail portion booked 3x Let us check Happy Forgings IPO GMP today, subscription status and other key details: Happy Forgings IPO was subscribed 9.11 times on December 21, the third and the last day of the bidding process. The public issue received bids for 7.61crore equity shares as against 83.65 lakh shares on the offer, as per data available on NSE till 10:35 am.

RBZ Jewellers IPO: The initial public offering (IPO) of RBZ Jewellers Limited opened for subscription on 19th December 2023 and it will remain open till 21st December 2023. This means RBZ Jewellers IPO subscription will end today evening or in other words, investors have just one day in hand to apply for the RBZ Jewellers IPO. In two days of bidding, RBZ Jewellers IPO subscription status informs that the public issue has received strong response from investors.

₹1,224.40 apiece on the BSE. On December 20, DOMS Industries shares were listed with a hefty premium of 77.2% at ₹1,400 apiece on the NSE and the BSE against an issue price of ₹790. DOMS Industries IPO received a strong response from investors during December 13 to December 15 as the public issue was subscribed 93.52 times.

₹627 to ₹660 per equity share of the face value of ₹2. The floor price was 313.5 times the face value of the equity shares, and the cap price was 330 times the face value of the equity shares. The price-to-earnings ratio based on diluted EPS for the financial year 2023 for the company at the cap price is 39.22 times, and the floor price was 37.25 times.

INOX India IPO: Listing date of initial public offering (IPO) of INOX India Limited has been fixed on 21st December 2023 i.e. today. As per the information available on BSE website, INOX India share price will list on BSE and NSE in special pre open session during Thursday deals.

Catch Live Market Updates here The domestic market ended with sharp losses on Wednesday as investors opted for profit booking after the indices hit record highs. The Sensex slumped 930.88 points, or 1.30%, to end at 70,506.31, while the Nifty 50 ended 302.95 points, or 1.41%, lower at 21,150.15. “Domestic equities are witnessing sell off after a sharp run up of more than 12% in the last seven weeks.

₹1,614.89-crore deal with the company for six next-generation offshore patrol vessels for the Indian Coast Guard.The company plans to launch Enhertu in India in January 2024. The drug is used in the treatment of adult patients with unresectable or metastatic HER2-positive breast cancer who have received a prior anti-HER2-based regimen.GIFT Nifty trading at a discount of nearly 30 points from Nifty Futures Wednesday close, indicating a start in the red for the Indian market.Oil declined after three days of gains as data showing record-high US production outweighed threats by Houthi rebels in Yemen to continue targeting ships in one of the world’s most important waterways.West Texas Intermediate fell as much as 1% in early Asian trading to below $74 a barrel, after shifting lower at the end of Wednesday’s session as government data showed US crude output hit a new high of 13.3 million barrels a day last week.

Catch Live Market Updates here The domestic indices witnessed a sharp sell-off on Wednesday with the Nifty 50 registering its biggest one-day fall in a year. On December 20, the Sensex slumped 930.88 points to end at 70,506.31, while the Nifty 50 ended 302.95 points, or 1.41%, lower at 21,150.15.

Pink Rathian event in Monster Hunter Now is set to kick off on December 23, 2023, at 9:00 am (local time) and will conclude on December 31, 2023, at midnight (local time). During this period, Pink Rathian, a formidable subspecies, will be found in Forest habitats. Once the event concludes on Sunday, December 31, 2023, Pink Rathian will no longer be accessible. Hunters are advised to seize the opportunity during this limited time to acquire her weapons and armor.