Nifty, Sensex May Move Sideways– Weekly closing report
Moneylife Digital Team 04 December 2021
We had mentioned in previous week’s closing report that Nifty, Sensex correct.
 
The major indices opened lower this week and closed with loss.
 
 
On Monday, the indices opened marginally higher and ended with gain. On the National Stock Exchange (NSE), 445 stocks advanced, 1,599 declined and 53 remained unchanged with advance decline ratio of 0.28, indicating major weakness in broader markets.
 
Reserve Bank of India (RBI) has permitted LIC to raise stake in Kotak Mahindra Bank up to 9.99%. Currently LIC holds 4.96% stake in the bank.
Man Industries has received new orders worth Rs 325 crore.
 
Shakti Pumps is set to enter EV space by setting up a new wholly owned subsidiary which will manufacture EV motor, EV charger, EV controller and multi application VFC.
 
Asian Paints will invest Rs 960 crore at Ankleshwar to expand capacity of paints from 1.3 lakh kl to 2.5 lakh kl and resins & emulsions capacity to 85,000 from 32,000.
 
RBI has superseded the board of Reliance Capital citing defaults and serious governing issues. RBI has appointed Nageshwar Rao Y, ex- Executive Director of Bank of Maharashtra.
 
On Tuesday, the indices opened flat and ended with loss. On the National Stock Exchange (NSE), 1,092 stocks advanced, 910 declined, and 60 remained unchanged with advance decline ratio of 1.20. 
 
October 2021 fiscal deficit was at Rs 20,200 crore as compared to Rs 39,200 crore in October 2020. April to October fiscal deficit has reached 36.3% of Rs 15.07 lakh crore target.
 
Coal India has approved interim dividend of Rs 9 per share and fixed Dec 7 as record date for the purpose of payment of dividend.
 
Tatva Chintan Pharma has acquired industrial land having an area of 50,399 sq-m at Dahej-III GIDC Estate, Gujarat. It will be used on need basis in future.
 
Mastek has bagged a € 45 million healthcare contract with NHS Digital over the period of four years from Oct 2021 to Oct 2025.
 
Supreme Court has allowed Yes Bank to vote in Essel Group owned Dish TV’s AGM.
 
On Wednesday, the indices opened higher and ended with gain. On the National Stock Exchange (NSE), 1,204 stocks advanced, 788 declined, and 68 remained unchanged with advance decline ratio of 1.53.
 
Tata Power Solar Systems, a wholly owned subsidiary of Tata Power has been awarded a contract of Rs 945 crore to build 100 MW EPC Solar projects along with 120 MWh Utility Scale Battery Energy Storage Systems.
 
Maruti Suzuki’s total sales declined 9% to 1,13,017 in November on a y-o-y basis.
 
Ashok Leyland’s total commercial vehicle sales fell by 2% to 10,480 units in November on a y-o-y basis.
 
Mahindra & Mahindra’s passenger vehicle sales were up by 8% to 19,384 units and tractor sales declined by 17% to 26,094 unit in November on a y-o-y basis.
 
Tata Motors total sales were up by 21% to 58,073 units in Nov on a y-o-y basis. The commercial vehicle sales were up by 8% to 28,295 units and passenger vehicle sales were up by 32% to 28,027 units. The electric vehicles sales jumped three times to 1,751 units.
 
Escorts total tractor sales declined by 30% to 7,116 units in November on a y-o-y basis.
 
Bajaj Auto’s total sales declined by 10% to 379,276 units in November on a y-o-y basis.
 
On Thursday, the indices opened flat and ended with gain. On the National Stock Exchange (NSE), 1,439 stocks advanced, 628 declined, and 73 remained unchanged with advance decline ratio of 2.29.
 
Retail intelligence platform Bizom’s data indicates slowdown in FMCG sector as November sales decline 14.4% and active kirana outlets reduce.
 
Maruti Suzuki will increase the price of all models in January 2022.
 
Bharat Dynamics has received Rs 471 crore order from Indian Army for refurbishment of IGLA-1M missiles.
 
M&M Financials November disbursement increased 27% to Rs 2,500 crore on a year-on-year basis. Collection efficiency improved 300 basis points to 94%.
 
L&T has partnered with ReNew Power to place bids as combined company for hydrogen projects.
 
Honda Motor has set up a battery sharing service subsidiary in India with a capital of Rs 135 crore.
 
On Friday, the indices opened higher and ended with loss. On the National Stock Exchange (NSE), 1,074 stocks advanced, 924 declined, and 74 remained unchanged with advance decline ratio of 1.16.
 
Telecom Department (DoT) has started releasing bank guarantee of Rs 20,000 crore issued by Bharti Airtel and Vodafone Idea. Vodafone Idea had issued bank guarantee worth Rs 12,000 crore and Bharti Airtel worth Rs 8,000 crore.
 
Government is seeking Parliament nod for net additional spend of Rs 2.99 lakh crore in FY22. For fertilizer subsidy government seeks Rs 58,400 crore, for MNREGA Rs 22,000 crore.
 
Government is seeking Rs 62,100 crore for Air India SPV; Rs 53,100 crore for export incentive and Rs 49,800 crore for food storage.
 
Indian November PMI (purchase managers index) is at 58.1 compared 58.4 in October 
 
KEC International has bagged an order worth Rs 1,065 crore.
 
Hero Motors has expanded its operations in Argentina by opening dealership in Buenos Aires in partnership with Gilera Motors.
 
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