Indices at 10:45 am
Nifty50 13,409 ▲ 53 (+0.4%)
Sensex 45,660 ▲ 233 (+0.5%)
Nifty Bank 30,206 ▼ 4 (-0.0%)
In the news
Hindalco chalks out capex
- The Aditya Birla Group’s metal company plans to set up a 34,000-tonne aluminium extrusion plant with an investment of ₹730 crore. The company is seeing demand for downstream aluminium products picking up in the building, construction and automotive sectors.
- Over the next few years, Hindalco expects to invest ₹7,000 crore in doubling its capacity to 6 lakh tonne. Shares of Hindalco have seen a sharp rise recently, having gained nearly 32% in November.
- The Aditya Birla Group is on a capex spree. It had recently announced a nearly ₹5,500 crore-worth capex in its cement company Ultratech.
V-Day is here
- The first vaccine for Covid-19 will be rolled out today in the UK and will be given to front-line health workers, care home workers and those aged over 80. Amidst the buzz around Brexit, British newspapers have hailed the vaccine rollout as ‘Vaxit’.
- Going ahead, it would not be surprising to hear news on vaccine roll-outs from various major countries. In India, the vaccine may be ready in a few weeks.
Mrs Bector's Foods IPO expected next week
- As per reports, the biscuit maker and suppliers of buns to fast-food chains like Burger King and McDonald’s, Mrs Bector’s Foods plans to open its IPO next week. The issue, pegged at about ₹540 crore, includes a ₹500 crore ‘offer for sale’ from private equity investors.
- Given the favourable returns delivered by most IPOs this year, investor interest seems high. Last week, QSR major Burger King closed its IPO, which was oversubscribed nearly 157 times.
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 PSU Bank ▲ 1.8% | Nifty Metal ▼ 1.2% |
| Nifty Realty ▲ 0.9% | Nifty Pharma ▼ 0.6% |
Global markets
| Nikkei 225 (Japan) | ▼ 0.1% |
| Hang Seng (Hong Kong) | ▼ 0.4% |
| SSE Composite (China) | ▼ 0.1% |
| Dow Jones (US) | ▼ 0.4% |
Fact of the day
The name "blue chip" is believed to have been derived from the game of poker in which the blue chips have the highest value.
Source: Poker-king
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Investment in securities markets are 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.