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Stocks To Watch: Coal India, GSK, Religare Enterprises, Tata Consultancy Services

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Indian equity benchmarks on Wednesday rose for seventh straight day on the back of sharp drop in crude oil and a day after the Reserve Bank of India announced hike in bond purchases to boost liquidity.

The S&P BSE Sensex rose 0.38 percent or 137 points to 36,484 and the NSE Nifty 50 Index climbed 0.54 percent or 59 points to 10,967. In the last seven sessions Nifty has advanced 4.57 percent and clocked its longest stretch of gains since April.

Stocks To Watch

  • Pfizer Inc entered into a joint venture agreement with GlaxoSmithKline Plc to create a global consumer company. However the entity will not include brands like Corex, Gelusil and Becosules and they will be continued to be marketed by Pfizer’s Indian arm in its respective territory.
  • Uflex launched three packaging foil solutions for pharma companies. Executive Director Amitava Ray said that the ‘fast tear strip’ foil will prove to be a game-changer for the pharma industry globally and they saw a potential growth market of 5,000 tons annually in India.
  • Reliance Industries clarified on the news regarding Department of Telecommunications rejecting Reliance Communication-Jio spectrum deal stating that a correspondence was received by the company from DoT on Dec. 18 with respect to application and the company is seeking appropriate clarifications in this regard.
  • Coal India seeks to buy coking coal mines in Australia and Canada. The state run-miner has identified “certain assets’, which are under different stages of due diligence, Coal Minister Piyush Goyal tells lawmakers in a written reply to questions. (Bloomberg News)
  • Tata Consultancy Services aunched Cloud Solutions Program in Canada. This solution provides cloud infrastructure and secured functioning between premise and public cloud environment.
  • Cosmo Films launched sterilisable conduction sealing film. This film is mainly used in dairy industry for flavored milk, pharma industry and bakery products.
  • Religare Enterprises’ subsidiary filed a criminal complaint against the Singh brothers, former promoters of the parent, and their associates for allegedly siphoning and misappropriating Rs 740 crore.
  • JSW Steel said that NCLT approved the resolution plan in the insolvency resolution process for Vardhman Industries.
  • KPIT Technologies: NCLT approved the merger plan with Birlasoft, which will then split into two-publicly traded companies. The tribunal also approved the demerger of company’s engineering business into KPIT Engineering.
  • Alembic Pharma received zero observations under Form 483 from the U.S. FDA for its API facility in Gujarat.
  • Allcargo Logistics said it will explore emerging business opportunities related to Container Freight Stations, Inland Container Depots and Logistics Parks in India.
  • Thomas Cook board approved amalgamation of its three arms with self. The board also gave a nod to the demerger of the inbound business of the company to SOTC Travel and demerger of company’s Human Resources Services Business to Quess Corp.

Who’s Meeting Whom

  • Gujarat Pipavav Ports to meet Indsec Securities & Finance on Dec. 20.
  • Mahindra Holidays & Resorts to meet Sundaram MF, Franklin Templeton and other investors on Dec. 21.
  • Eicher Motors to meet Axis Capital on Dec. 20.
  • Shriram City Union Finance to meet Batlivala & Karani Securities and Newmark Capital between Dec. 20-28.

Insider Trading

  • Orient Bell promoter acquired 11,000 shares on Dec. 18.
  • Max India promoter Max Ventures Investment Holdings sold 1.9 crore shares on Dec. 17.
  • Jindal Stainless promoter Abhyuday Jindal acquired 50,000 shares between Dec. 17 and 18.

(As reported on Dec. 19)

Trading Tweaks

  • Bosch, SKF India Ex-Date for share buyback.

Money Market Update

  • Rupee on Wednesday closed at 70.40/$ versus Tuesday’s 70.42/$.

F&O Cues

  • Nifty December futures closed trading at 10,986, premium of 19 points.
  • Max open interest for December series at 11,000 strike value call option (open interest at 38 lakh shares)
  • Max open interest for December series at 10,000 strike value put option (open interest at 47 lakh shares)

Stocks In F&O Ban

  • Adani Enterprises
  • Adani Power
  • Jet Airways
  • Reliance Capital

Put-Call Ratio

  • Nifty PCR at 1.66 from 1.58.
  • Nifty Bank PCR at 1.36 from 1.51.

Get a detailed drawdown of derivatives on BloombergQuint's F&O page.

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