Pre Market Analysis: Dalal Street may open lower; Britannia, Cadila and Jindal Stainless in news today

Market Opening - An Overview

Nifty futures on the Singapore Exchange were trading 0.24% lower at 17,286.50, signalling that Dalal Street was headed for a negative opening on Friday.

Asian shares were trading lower after the US imposed fresh sanctions and trade curbs on China over its treatment of the country’s Uyghur minority. In Japan, investors awaited Bank of Japan decision on monetary policy due later in the day. Japan’s Nikkei fell 0.92%, Topix was down 0.70%, Hang Seng dropeed 0.75% and CSI 300 plunged 1.02%.

Indian rupee fell 0.15 paise to 76.09 against the US dollar on Thursday.

RateGain Travel Technologies, a software as a service (Saas) player will make its stock market debut on Friday. The company sold its shares in the range of Rs 405-425 to raise Rs 1,335.74 crore via IPO.

FII/DII Trading Data on Thursday (16-12-2021)

CategoryBuy ValueSell ValueNet Value
*All numbers are in INR crore

Stocks in News Today

Britannia: The biscuit maker has revamped its largest selling biscuit brand Good Day and as part of that, revealed its new identity. Britannia is also expanding the product portfolio of its most-penetrated brand Good Day by adding three more variants in the premium segment, said Varun berry, its Managing Director. Britannia will launch Good Day Harmony and two other variants in the premium segment, which is growing fast after the pandemic, within 15 days.

Cadila Healthcare: The pharma company said its antimalarial compound ZY19489′, which is currently under development with Medicines for Malaria Venture (MMV), has received ‘orphan drug designation’ from the US Food and Drug Administration. The orphan drug designation provides eligibility for certain development incentives, including tax credits for qualified clinical testing, prescription drug user fee exemptions and seven-year marketing exclusivity upon USFDA approval.

Jindal Stainless Ltd: The company aims to capture 20 per cent market share over the next three years from its hot-rolled stainless steel chequered sheet business, amounting to an additional business potential of Rs 500 crore. The current size of the chequered sheet market in India is 2,00,000 tonnes annually and is growing at an annual rate of 8 per cent, the stainless steel player said in a statement. The company said it has launched India’s first branded chequered stainless steel sheet with brand name Infinity.

Tata Motors: The automaker said its bus brand Starbus has crossed the 1 lakh units cumulative sales milestone. The Starbus platform is available in varied configurations to suit various transportation needs. It is also available as an electric bus and has been successfully running in several cities across India, the company said in a statement.

YES Bank: The lender plans to raise funds through various instruments, including equity and bonds, and it will seek shareholders’ approval in a meeting of the board of directors next week on December 21. The bank did not mention how much money it intends to raise.

Coal India Limited (CIL): The public-sector enterprise said it has drawn up plans to boost coal stock at thermal power plants to over 45 million tonnes (MT) from its own sources by the end of fiscal year 2022. The intent is to maintain steady supply of coal to power plants during summer and monsoon months to avoid disproportionate demand-despatch scenario.

NTPC: The state-backed power company said it will raise Rs 1,175 crore on December 20, 2021 through issuance of unsecured non-convertible debentures (NCDs) on private placement basis. The proceeds will be utilized for funding of capital expenditure, refinancing of existing loans and other general corporate purposes.