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