Morning Update for 3 December 2021

Indices at previous closing

Nifty50: 17,401 ▲+234 (+1.3%)
Sensex: 58,461 ▲+776 (+1.3%)
Nifty Bank: 36,508 ▲+143 (+0.3%)

For more updates on F&O, click here.

Bharat Dynamics signs contract with the Indian Army

Shares of state-owned Bharat Dynamics (BDL) gained 3.5% yesterday as it signed a contract worth ₹471.4 crore with the Indian Army. The contract involves refurbishment of IGLA-1M missiles. 

Meanwhile, the company is planning to set up it’s sixth manufacturing unit in Jhansi. In this facility, it will make propulsion systems which are used in anti-tank guided and futuristic missiles manufactured by the firm. Shares of BDL closed 3.5% higher yesterday.

Dish TV spurts amid stake purchase buzz

Shares of Dish TV were locked in a 5% upper circuit after the reports claimed that the telecom major Bharti Airtel is in talks to buy a majority stake in the DTH service provider. Experts believe that if this deal goes through, it would give Bharti Airtel control of 50% of DTH market in India.  

However, Dish TV has informed the stock exchanges that it is not aware of the said transaction. Meanwhile, its shares rose coupled with high volumes.

IPO rush continues on D-Street

Investors have continued to flock towards Tega Industries' IPO with the public issue being oversubscribed over 13 times on its day 2. Similarly, Anand Rathi Wealth’s IPO was fully subscribed on day 1. You can apply for these IPOs on Upstox. 

More companies are making a beeline to list on the exchanges. RateGain Travel Technologies, C.E. Info systems and Metro Brands are expected to open their IPOs for subscription soon.

Sectoral indices (December 2)

Global markets (at 8:15 am today)

Fact of the day

Hamleys’ first toy shop opened around 260 years ago in London. It was then called Noah’s Ark.

Source: TimeOut

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Investment in securities markets is subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.