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HUL (+4%), HCL Tech (-9%) and more

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HUL (+4%), HCL Tech (-9%) and more

Tribe Weekly

Tribe Wealth
Dec 11, 2022
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HUL (+4%), HCL Tech (-9%) and more

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Market Summary

Nifty off lows but ends in red due to volatile sessions.


Companies

HUL (+4%) rose after the company bought a stake in 2 digital wellness startups for Rs 334 cr. Larsen & Toubro (+3%) rose after the company bought a minority stake in a Delaware-based software company for $ 1 million. Axis Bank (+3%) rose after the bank announced it’s plan to raise Rs 12,000 cr via tier-2 bonds.


Sectors

Nifty Pvt Bank (+1%) rose due to strong performance of Axis Bank, IndusInd Bank and HDFC Bank. Nifty IT (-6%) plunged due weak performance of HCL Tech, Tech Mahindra, Wipro and TCS.


News of The Day

1.​​ NCLT Chennai approved the merger of 3 IDFC wholly-owned arms with the parent. (CNBC TV 18)

2.Emami hiked its stake in Brillare Science from 77.53% to 80.59%. (Business Standard)

3.Zydus Lifescience got USFDA nod for two generic drugs. (Money Control)

4.Snapdeal deferred Rs 1,250 cr IPO. (Devdiscourse)

5.India’s forex reserves hit over 3-month high, rise for 4th straight week. (Economic Times)


Tribe Weekly

December 12: Sula Vineyards IPO to premiere on December 12

December 13: One 97 Communications board meeting to consider on buyback of shares

December 14: India Wholesale Price Index (WPI) inflation YoY basis report

December 15: FED will decide on an Interest rate hike

December 16: Shree Securities Limited (SSL) board meeting to consider the subdivision of equity shares.


Market Sentiment


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HUL (+4%), HCL Tech (-9%) and more

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