Indices at previous closing
Nifty50: 17,176 ▲+264 (1.5%)
Sensex: 57,633 ▲+886 (1.5%)
Nifty Bank: 36,618 ▲+882 (+2.4%)
For more updates on F&O, click here.
RIL to set up chemical facility
Reliance Industries (RIL) has entered into a joint venture (JV) with Abu Dhabi Chemicals Derivatives Company RSC for chemical projects. The JV will produce industrial chemicals such as Chlor-Alkali, Ethylene Dichloride (EDC) and Polyvinyl Chloride (PVC) in the UAE region.
Both the companies will invest $2 billion in the joint venture. This will be the first production of these chemicals in the UAE. Meanwhile, shares of RIL were up 0.8% on Tuesday.
Dilip Buildcon jumps on big order
Shares of the road infrastructure company rose 9.3% yesterday as it bagged a project worth ₹2,683 crore from a subsidiary of Coal India.
The project, which has to be completed in about 5 years, involves overburden (or top-soil) removal and preparation of haul roads. As of September 2021, its order book stood at ₹23,103 crore, more than double of its FY21 revenue.
Shriram Properties IPO opens today
The real estate arm of Shriram Group will launch its ₹600 crore IPO today. The price band for this IPO is ₹113-₹118 per share. The company primarily focuses on mid-market and affordable segments in South India with a focus on cities like Bengaluru and Chennai.
Meanwhile, software as a service company RateGain’s IPO has received strong interest from investors. The IPO was subscribed more than 40% on day 1. You can apply for these IPOs on Upstox.
Sectoral indices (December 7)
| Top gainers | Top losers |
| Nifty Metal ▲ 3.3% | NA |
| Nifty Bank ▲ 2.4% | NA |
Global markets (at 8:00 am today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.6% |
| Nikkei 225 (Japan) | ▲ 1.1% |
| Hang Seng (Hong Kong) | ▼ 0.0% |
| SSE Composite (China) | ▲ 0.1% |
| Dow Jones (US) (December 7) | ▲ 1.4% |
| NYSE (US) (December 7) | ▲ 1.5% |
| Nasdaq (US) (December 7) | ▲ 3.0% |
| S&P 500 (US) (December 7) | ▲ 2.0% |
Fact of the day
Spotify is the world’s most popular audio streaming subscription service with 381m users, including 172m subscribers, across 184 markets.
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