Morning Update for 9 December 2020
Indices at 9:30 am
Nifty50 13,469 ▲ 76 (+0.5%)
Sensex 45,872 ▲ 263 (+0.5%)
Nifty Bank 30,374 ▲ 112 (+0.3%)
In the news
6 Covid-19 vaccines in the works
- At a recent international event, Bill Gates said that there could be as many as 6 vaccines available by the first quarter of 2021. He advocated for their equitable distribution.
- Meanwhile, reports suggest that India’s Serum Institute is likely to supply vaccines at ₹250 per dose to the government.
PSU Banks go capital-hunting
- PSU banks are on a capital raising spree. Recently, Indian Bank raised ₹1,048 crore via private placement. Similarly, Canara Bank has launched a qualified institutional placement (QIP) to raise upto ₹2,000 crore.
- Shares of PSU banks are seeing renewed investor interest since November, and the rise in stock prices is coupled with above-average volumes.
JSW Steel stock inches higher
- JSW Steel’s crude steel production grew 3% YoY in November. It’s manufacturing plants ran at 89% capacity, which could have been higher but for a shortage of iron ore.
- The stock has risen for 8 straight months, gaining nearly 150% from 1 April 2020.
TVS has expansion plans
- Leading 2 & 3 wheeler tyre maker TVS Srichakra will invest ₹1,000 crore over next three years to increase manufacturing by 25-30%. The capex will also help to double its off-highway tyre capacity.
- As per the press release, the management is confident of India's recovery and its prospects in the medium-to-long term.
Godrej Properties hits Whitefield
- Mumbai-based Godrej Properties has purchased an 18-acre land parcel in Whitefield, Bengaluru to develop a residential project. The company has not announced the transaction value.
- Meanwhile, shares of Godrej Properties hit a fresh record high yesterday, having gained 7.7% so far in December.
Events in this week
- Wednesday: Crude oil inventories (US)
- Thursday: Inflation, Initial Jobless claims (US)
- Friday: Inflation, IIP (India)
Sectoral indices
Top gainers Top losers Nifty Media
▲1.5% NA Nifty Realty
▲ 0.9% NA
Global markets
Nikkei 225 (Japan) ▲ 1.1% Hang Seng (Hong Kong) ▲ 1.2% SSE Composite (China) ▲ 0.0% Dow Jones (US) ▲ 0.3%
Fact of the day
CAPTCHA is short for ‘Completely Automated Public Turing test to tell Computers and Humans Apart’.
Source: Fullforms.com
Indices at 9:30 am
Nifty50 13,469 ▲ 76 (+0.5%)
Sensex 45,872 ▲ 263 (+0.5%)
Nifty Bank 30,374 ▲ 112 (+0.3%)
In the news
6 Covid-19 vaccines in the works
- At a recent international event, Bill Gates said that there could be as many as 6 vaccines available by the first quarter of 2021. He advocated for their equitable distribution.
- Meanwhile, reports suggest that India’s Serum Institute is likely to supply vaccines at ₹250 per dose to the government.
PSU Banks go capital-hunting
- PSU banks are on a capital raising spree. Recently, Indian Bank raised ₹1,048 crore via private placement. Similarly, Canara Bank has launched a qualified institutional placement (QIP) to raise upto ₹2,000 crore.
- Shares of PSU banks are seeing renewed investor interest since November, and the rise in stock prices is coupled with above-average volumes.
JSW Steel stock inches higher
- JSW Steel’s crude steel production grew 3% YoY in November. It’s manufacturing plants ran at 89% capacity, which could have been higher but for a shortage of iron ore.
- The stock has risen for 8 straight months, gaining nearly 150% from 1 April 2020.
TVS has expansion plans
- Leading 2 & 3 wheeler tyre maker TVS Srichakra will invest ₹1,000 crore over next three years to increase manufacturing by 25-30%. The capex will also help to double its off-highway tyre capacity.
- As per the press release, the management is confident of India's recovery and its prospects in the medium-to-long term.
Godrej Properties hits Whitefield
- Mumbai-based Godrej Properties has purchased an 18-acre land parcel in Whitefield, Bengaluru to develop a residential project. The company has not announced the transaction value.
- Meanwhile, shares of Godrej Properties hit a fresh record high yesterday, having gained 7.7% so far in December.
Events in this week
- Wednesday: Crude oil inventories (US)
- Thursday: Inflation, Initial Jobless claims (US)
- Friday: Inflation, IIP (India)
Sectoral indices
| Top gainers | Top losers |
| Nifty Media ▲1.5% | NA |
| Nifty Realty ▲ 0.9% | NA |
Global markets
| Nikkei 225 (Japan) | ▲ 1.1% |
| Hang Seng (Hong Kong) | ▲ 1.2% |
| SSE Composite (China) | ▲ 0.0% |
| Dow Jones (US) | ▲ 0.3% |
Fact of the day
CAPTCHA is short for ‘Completely Automated Public Turing test to tell Computers and Humans Apart’.
Source: Fullforms.com
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