Indices at 9:30 am
Nifty50 13,469 ▲ 76 (+0.5%)
Sensex 45,872 ▲ 263 (+0.5%)
Nifty Bank 30,374 ▲ 112 (+0.3%)
In the news
6 Covid-19 vaccines in the works
- At a recent international event, Bill Gates said that there could be as many as 6 vaccines available by the first quarter of 2021. He advocated for their equitable distribution.
- Meanwhile, reports suggest that India’s Serum Institute is likely to supply vaccines at ₹250 per dose to the government.
PSU Banks go capital-hunting
- PSU banks are on a capital raising spree. Recently, Indian Bank raised ₹1,048 crore via private placement. Similarly, Canara Bank has launched a qualified institutional placement (QIP) to raise upto ₹2,000 crore.
- Shares of PSU banks are seeing renewed investor interest since November, and the rise in stock prices is coupled with above-average volumes.
JSW Steel stock inches higher
- JSW Steel’s crude steel production grew 3% YoY in November. It’s manufacturing plants ran at 89% capacity, which could have been higher but for a shortage of iron ore.
- The stock has risen for 8 straight months, gaining nearly 150% from 1 April 2020.
TVS has expansion plans
- Leading 2 & 3 wheeler tyre maker TVS Srichakra will invest ₹1,000 crore over next three years to increase manufacturing by 25-30%. The capex will also help to double its off-highway tyre capacity.
- As per the press release, the management is confident of India's recovery and its prospects in the medium-to-long term.
Godrej Properties hits Whitefield
- Mumbai-based Godrej Properties has purchased an 18-acre land parcel in Whitefield, Bengaluru to develop a residential project. The company has not announced the transaction value.
- Meanwhile, shares of Godrej Properties hit a fresh record high yesterday, having gained 7.7% so far in December.
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 Media ▲1.5% | NA |
| Nifty Realty ▲ 0.9% | NA |
Global markets
| Nikkei 225 (Japan) | ▲ 1.1% |
| Hang Seng (Hong Kong) | ▲ 1.2% |
| SSE Composite (China) | ▲ 0.0% |
| Dow Jones (US) | ▲ 0.3% |
Fact of the day
CAPTCHA is short for ‘Completely Automated Public Turing test to tell Computers and Humans Apart’.
Source: Fullforms.com
Yay ? or ? Nay?
We'd love your thoughts on this morning update.
Trading and investing in your favourite stocks is easy on Upstox. If you haven't already, open your Upstox account here.
Disclosures and Disclaimer
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.