Top things to know today morning:

Indian Stock Market: After seven consecutive sessions of gains, benchmark indices took a breather on Thursday. Nifty fell below 20, 900, driven by selling in capital goods, FMCG, IT, and metal stocks.

US Markets: Nasdaq surged 1.37% to 14,339.99 points on Thursday, driven by Alphabet and Advanced Micro Devices, boosting optimism about artificial intelligence.

RBI's MPC Decision: RBI's Monetary Policy Committee is expected to keep the repo rate steady in its latest review.

FII and DII Activity: Overseas investors continued to be net sellers in Indian equities for the second consecutive session.

Indian Rupee: The Indian rupee weakened by 2 paise to Rs 83.35 against the U.S. dollar on Thursday.

Oil Prices: Oil prices fell to six-month lows on Thursday due to concerns about sluggish energy demand in the US and China.

Gold Prices: Gold prices firmed on Thursday as the dollar weakened in anticipation of U.S. non-farm payrolls data.

Stock specific updates:

Zomato: SoftBank is expected to sell Zomato shares worth $135 million via a block deal at Rs 120.50 per share.

Adani Ports & Special Economic Zone: Expects to exceed FY24 guidance of 370-390 MMT and is on track to cross 500 MMT by FY25.

Vedanta: In talks with foreign investors to raise $1.25 billion ahead of a $1 billion debt maturity in January 2024.

Olectra Greentech: Received a Letter of Award for the supply and maintenance of 40 electric buses from Vasai Virar City Municipal Corporation, Mumbai, valued at Rs 62.80 crore.

IRCON International: The Government of India will exercise the greenshoe option, selling an additional 7% stake in the offer-for-sale (OFS) of IRCON International.

Container Corporation of India: Signed a MoU with NTPC Vidyut Vyapar Nigam (NVVN) to develop PV Solar renewable energy projects in CONCOR terminals.

GlaxoSmithKline Pharmaceuticals: Established an omnichannel team to expand reach and coverage using technology. Completed a VRS for commercial function employees, incurring a one-off cost of Rs 156.57 crore.

IIFL Securities: Securities Appellate Tribunal set aside SEBI's order, reducing the monetary penalty from Rs 1 crore to Rs 20 lakh.

Bharat Forge: Kalyani Strategic Systems proposed to acquire a majority stake in Zorya Mashproekt India.

DB Realty: Vanita Infrastructure's subsidiary acquired equity shares of DB Conglomerate Realty, making it a step-down subsidiary.

IRB Infrastructure Developers: Logged November toll collection at Rs 437 crore, a year-on-year increase from Rs 366 crore.

Top Things To Know Today Morning:

Domestic equity indices extended their winning streak on December 6, marking the seventh consecutive day of gains. The bullish momentum persisted with notable buying activity in information technology and power sectors, coupled with continuous foreign inflows, propelling the benchmarks to achieve a new high for the third consecutive day.

The Sensex concluded the day with a robust gain of 357.59 points, reaching 69,653.73, while the Nifty surged by 82.60 points to attain a new closing high of 20937.70 for both indices.

In contrast, U.S. stocks experienced a dip on Wednesday, driven lower by megacaps and energy shares. Concerns over a cooling jobs market heightened expectations of the Federal Reserve initiating interest rate cuts early next year. The S&P 500 dropped by 0.39% to close at 4549.34 points, the Nasdaq Composite Index fell by 0.58% to 14146.71, and the Dow Jones Industrial Average slid by 0.19% to 36054.43.

The Reserve Bank-led Monetary Policy Committee (MPC) is anticipated to maintain repo rates unchanged until June next year, according to a report from a foreign brokerage. The decision on rates will be disclosed on December 9 after the bi-monthly MPC meeting that commenced on December 6.

Market Movements:

Indian Rupee: The Indian rupee strengthened by 6 paise, closing at 83.33 rupees against the U.S. dollar on Wednesday.

Oil Prices: Brent crude witnessed a 3.76% decrease, trading at $74.30 per barrel.

Gold Prices: Gold prices saw a firming trend on Wednesday as Treasury yields eased. Spot gold rose by 0.3% to $2025.09 per ounce, while U.S. gold futures gained 0.3% to $2043.10.

Dollar Index: The U.S. dollar touched a two-week high, while the euro displayed weakness across the board. The dollar index was last down 0.01% at 103.95.

Stock-Specific Updates:

1. Shree Cement: Plans to bid for lithium mining rights under a government initiative to secure critical minerals production through auctions.
2. IRCON International: The Government of India plans to sell an 8 percent stake via offer-for-sale (OFS) with a floor price of 154 rupees per share.
3. Dr. Reddy’s Laboratories: Enters into a collaboration with Coya Therapeutics for the development and commercialization of COYA 302, an investigational combination therapy for Amyotrophic Lateral Sclerosis.
4. Bharat Electronics: Receives an order of 580 crore rupees from the Indian Army for the Annual Maintenance Contract (AMC) of radars.
5. One 97 Communications: Expands its business to offer higher-ticket personal and merchant loans in partnership with large banks and NBFCs.
6. IDFC First Bank: Cloverdell Investment, an affiliate of Warburg Pincus, is likely to sell a 1.3 percent stake in IDFC First Bank via a block deal.
7. Network18 Media & Investments: Plans to merge its television and digital news businesses.
8. Delta Corp: The High Court of Calcutta has granted interim relief to subsidiary of Delta Corp, Deltatech Gaming, of 6384 crore rupees for which a GST notice was sent in October.
9. Adani Ports and Special Economic Zone: Will consider a proposal to raise funds through a bond issue in its board meeting on December 12.
10. Hindustan Zinc: Board approves a second interim dividend of 6 rupees per equity share for FY24, amounting to 2535 crore rupees.
11. Hindustan Unilever: Board approves the appointment of Tarun Bajaj as an independent director.
12. Rites: Signs an MoU with Meghalaya Industrial Development Corporation for developing multi-modal logistics projects.
13. Brigade Enterprises: Signs a joint development agreement for office space in Bangalore with a development value of 500 crore rupees.
14. PVR-INOX: Opens a 4-screen multiplex at Gwalior, solidifying its position as the largest multiplex network with 1709 screens across 358 properties in 113 cities.

Top Things To Know Today Morning:

1. On Tuesday, the BSE Sensex surged by 431 points to reach 69,296, and the Nifty50 saw a climb of 168 points, reaching 20,855.
2. The Indian rupee saw a marginal decline of 1 paisa against the U.S. dollar, closing at Rs 83.38.
3. Brent crude oil futures settled at $77.20 a barrel, falling by 83 cents.
4. Spot gold was down 0.4 percent at $2,018.29 per ounce.
5. Dollar index was last up 0.12 percent at 103.73, hovering around one-week highs.

Corporate Updates:

1. State Bank of India (SBI): SBI is acquiring a 20 percent stake held by SBI Capital in SBI Pension Funds for Rs 229.5 crore, increasing its stake to 80 percent.
2. Somany Ceramics: The company has set December 15 as the record date for the Rs 125 crore buyback, representing a 15.18% stake at Rs 850 per share.
3. Ashok Leyland: The company has raised its stake in Switch Mobility's holding company to 92.19% from 91.63%, deploying around Rs 662.5 crore as the first tranche of a planned Rs 1,200 crore investment.
4. Bank of India: The bank has launched its qualified institutional placement (QIP) with a floor price of Rs 105.42 per share.
5. GRM Overseas: The company has approved the appointment of Atul Garg as MD of its subsidiary GRM Foodkraft. Atul Garg will hold the post for 5 years.
6. Axiscades Technologies: The company acquired a 100 percent stake in Epcogen for Rs 26.25 crore. Epcogen is engaged in engineering design and solutions for the energy space.
7. HDFC Bank: The bank has sought approval from shareholders for the re-appointment of Sashidhar Jagdishan as the Managing Director & Chief Executive Officer and the appointment of V Srinivasa Rangan as an Executive Director.
8. Dalmia Bharat: The company has approved the appointment of Puneet Dalmia as MD and CEO for five years, effective from December 8.
9. Power Grid Corporation of India: The corporation has received a letter of intent for the establishment of an inter-state transmission system project in Gujarat.

Top Things To Know Today Morning:

1. On Monday, India's benchmark indices ended at a fresh high, gaining 2% for the first time in a year.
2. The Indian rupee weakened 7 paise to close at 83.37 against the U.S. dollar.
3. Benchmark Sensex and Nifty indices are likely to open marginally lower.
4. Brent crude futures settled down 85 cents, at $78.03 a barrel.
5. US gold futures settled down 2.3 percent at $2,042.20.
6. The dollar ticked higher on Monday.
7. Bitcoin breached $42,000 for the first time since early 2022.

Stock specific updates

1. Fireside Ventures is going to sell 61 lakh shares of Mamaearth.
2. HCL Technologies is in talks with State Street Corp. to sell its entire 49% equity stake.
3. The market capitalisation of Bajaj Group crossed the Rs 10 lakh crore.
4. Brigade Group signed a joint development agreement to develop luxury residences.
5. Computer Age Management Services' promoter entity Great Terrain Investment sold its 19.8% stake.

Top Things To Know Today Morning:

1. The Indian stock market is expected to open in the green.
2. Oil prices climbed more than 5 per cent on Monday.
3. SEBI comes out with uniform timeline for listing securities on private placement basis.
4. Supreme Court has deferred the next hearing on loan moratorium to October 13.
5. SEBI introduces very high-risk category in mutual fund schemes.
6. Office absorption up 64% in third quarter, new completions increase 59%: JLL report

Stock Specific News:

1. HDFC Bank’s advances rose 16 percent to Rs 10.4 lakh crore, while deposits increased 20 percent to Rs 12.3 lakh crore, YoY.
2. HDFC Limited’s individual loan approvals in Q1FY21 increased 9 percent YoY but disbursements were down 5 percent YoY.
3. Banks Board Bureau has recommended Dinesh Kumar Khara to take over as the new chairman of State Bank of India.
4. Credit Access Grameen launched QIP issue on Monday at a floor price of Rs 707.69 per share.
5. Britannia board has approved the issue of debenture and payment of a dividend of Rs 12.50.
6. Infibeam Avenues has entered into a definitive agreement with Jio platforms to license.
7. GSFC is set to take up manufacturing of Calcium Nitrate, becoming the first company in India to do so.
8. Tata Motors: JLR retail sales rose 50 percent in Q2FY21. However, sales were down 11.9 percent YoY.
9. Escorts has completed acquisition of 2 crore equity shares of KAI from KBT.
10. PVR has issued NCDs worth Rs 50 crore.
11. Vodafone lenders approve merger of Indus Towers with Bharti Infratel.
12. AirAsia India is getting funds from only Tata Sons and not its Malaysian eponymous parent.

Top Things To Know Today Morning:

1. The Indian stock market is expected to have a gap-up opening.
2. Oil prices fell for a second day on Wednesday.
3. DGCA extends suspension of international commercial flights till October 31.
4. India's external debt at $554.5 billion at June-end: RBI
5. Government to borrow Rs 4.34 lakh crore in second half of FY21.
6. Eight core industries' output contracts 8.5% in August.
7. Centre extends GST return due date deadline for FY19 filing to October 31.
8. US economy plunges 31.4% in spring but big rebound expected.
9. Govt slashes domestic natural gas price by 25 percent to $1.79/mmBtu.

Stock Specific News:

1. Reliance Industries announced that co-investors of Silver Lake will invest an additional Rs 1,875 crore into Reliance Retail Ventures Ltd.
2. The National Housing Bank has imposed a penalty of Rs 1.5 lakh on HDFC for non-compliance.
3. Bank of Baroda has dissolved its wholly-owned non-functional subsidiary in UK.
4. Chemcon Speciality Chemicals and CAMS shares will be listed today.
5. Punjab National Bank has reported a borrowal fraud of Rs 1,203.26 crore in the NPA account of Sintex Industries Ltd.
6. Dhanlaxmi Bank shareholders have rejected the appointment of Sunil Gurbaxani as MD and CEO of the bank.
7. Lupin has launched cancer drug Lapatinib tablets in the US.
8. MOIL has raised price of all grades of Ferro, SMGR grades, fines and Chemical grades by 7.5%.

Top Things To Know Today Morning:

1. The Indian stock market is expected to open in the green.
2. Oil drops second day as surging coronavirus cases prompt demand worries.
3. RBI defers CCB implementation by 6 months due to COVID-19.
4. RBI gives more time to states to avail additional market borrowing, OD facility.
5. Ministry of Power is working on a proposal to reduce power purchase costs.
6. Automobile sales may fall 20-25% this fiscal: Ind-Ra.
7. Japan's factory output rises for third month in August.
8. China's factory activity extends solid growth in September, new export orders surge: Caixin PMI.
9. Sugar mills can submit ethanol proposals.
10. India has initiated a probe into an alleged increase in subsidised imports of copper tubes and pipes.

Stock Specific News:

1. The NCLT Mumbai has sanctioned the Scheme of Amalgamation for the merger of HDFC ERGO Health Insurance into HDFC ERGO.
2. Vodafone Idea will seek shareholders' approval to raise the borrowing limit to Rs 1 lakh crore at the annual general meeting scheduled today.
3. Indiabulls Housing Finance has sold a portion of its stake in OakNorth Holding Ltd. to TEMF Ltd for approximately Rs 630 crore.
4. PVR will consider raising funds via NCDs on October 5.
5. ICRA has reaffirmed the credit rating of the Indraprastha Gas for Rs 4,000 crore at AAA and A1+.
6. Welspun Corp has received multiple orders of approximately 147 KMT valuing close to Rs 1,400 crore.
7. The RBI has appointed D K Kashyap, General Manager, Reserve Bank of India as Additional Director on the Board of Dhanlaxmi Bank till September 27, 2022.
8. Promoter Sumitomo Chemical Company will sell up to 1.64 crore equity shares in the Sumitomo Chemical India at a floor price of Rs 270 per share.
9. Arvind Lifestyle Brands and Gap Inc. have decided to mutually terminate their franchise business relationship in India.

Top Things To Know Today Morning:

1. The Indian stock market is expected to open flat.
2. Oil slips as demand worries offset hopes for stimulus.
3. Government keeps tight leash on expenditure.
4. RBI postpones MPC meeting to next week.
5. SEBI eases fund raising norms for REITs, InvITs.
6. North Block is readying a draft Bill to amend the GST Compensation Act.
7. Housing sales up 34% in July-September, unsold inventory marginally down: JLL
8. RBI extends MSF facility for banks until March next year.

Stock Specific News:

1. India Grid Trust has completed the acquisition of 74 percent in JKTPL and Techno Electric & Engineering Company.
2. HDFC Asset Management Company has offloaded the entire 5.02 percent stake in Hexaware Technologies.
3. Shalby board has approved to reduce promoters' shareholding in the company to 75 percent from 79.45 percent.
4. Infosys' subsidiary EdgeVerve Systems has signed a partnership with Minit to help its clients accelerate process excellence.
5. Moody's has downgraded IIFL Finance's CFR and senior secured debt rating to B2 from B1 and changed the outlook to Stable from 'rating under review'.
6. Central Bank of India’s board has approved allotment of 16.58 crore shares aggregating to qualified institutional buyers.
7. According to the transaction auditor Grant Thornton report, fraudulent transactions worth Rs 12,705.53 crore took place at DHFL during FY17 to FY19.
8. Symphony has launched universal packaged air-coolers for industrial and commercial applications.
9. Balaji Telefilms board has approved the liquidation of its subsidiary Chhayabani Balaji Entertainment.
10. Anuh Pharma has received approval from WHO - Geneva Prequalification for Pyrimethamine API.
11. UTI Asset Management Company, Mazagon Dock Shipbuilders and Likhita Infrastructure IPOs open for subscription today.