Category: News

As 2024 nears its close, the market has delivered a solid 20% return, but it’s been the mid and small-cap stocks that have really shone this year. Midcaps have surged 28% while small caps have seen even stronger growth, climbing 31%, outpacing the more conservative large-cap returns of 17%. Between January and September, the market saw strong rallies driven by expectations surrounding corporate earnings, national election results, and the budget, all of which helped lift valuations. However, by the end of September 2024, the tide started to turn. Corporate earnings growth, which had been slowing since June, began to show signs of weakness, raising red flags about potential structural issues within India’s economy. The FIIs’ selling spree, which reached a peak between October and November, was exacerbated by the Yen Carry Trade issue. With interest rates rising in Japan, the lucrative short-term bets in Indian equities became less attractive. One key area to keep an eye on is India’s valuations, which remain above the long-term average. Investors will need to be selective and strategic about which themes and stocks to hold onto as the market enters 2025.

Premier Explosives shares shot up by a solid 10% upper circuit to ₹567 in early trading on Monday, December 16, the company has signed an MoU with Global Munition Limited, a subsidiary of NIBE Ordnance and Maritime, to create a joint venture focused on defence and aerospace manufacturing. In another significant move, Premier Explosives bagged a substantial ₹89.20 crore order from Singareni Collieries for supplying a range of explosives and accessories over the next two years. Premier Explosives is deeply embedded in India’s defence and space initiatives, producing solid propellants for missiles like Astra, Akash, and Agni, along with pyrotechnic devices and countermeasures. Its contributions to ISRO are equally notable, as it supplies key materials for satellite launch vehicles.

Dhanlaxmi Crop Science shares opened at ₹104.5. It indicates a considerable 90% gain as it starts from ₹55. The company offered 43.28 lakh new shares, reducing promoter holding from 76.7% to 56.3%, signaling a solid commitment to market participation. The IPO was a roaring success, retail investors came in hot, oversubscribing by 441 times, while non-institutional investors (NIIs) went even bigger with 1,241 times the demand. Qualified institutional buyers (QIBs) weren’t far behind, bidding nearly 198 times their allocated shares. Dhanlaxmi’s stellar debut doesn’t just showcase strong demand—it sets a high bar for SME IPOs and positions the company as one to watch in the agri-solutions space.

PC Jeweller shares took center stage today as they traded ex-date for a 1:10 stock split, an eagerly anticipated move designed to boost liquidity and make the stock more appealing to retail investors. The split transforms each ₹10 face-value share into 10 shares of ₹1 each, reshaping the stock’s accessibility. Adding to the excitement, the company has secured board approval for a preferential issuance of over 51 million shares to major lenders like SBI, PNB, Axis Bank, and Kotak Mahindra Bank. PC Jeweller’s stock has been a superstar in 2024, with a jaw-dropping 247% gain year-to-date. It’s currently trading around ₹175, just shy of its 52-week high of ₹186.80 and miles above its ₹32.27 low. This remarkable rally speaks volumes about investor confidence in the company’s strategic maneuvers.

Monday marked a major milestone for HBL Power Systems, as its stock surged 6.5% intraday, hitting ₹739.65. The buzz? A ₹1,522.40 crore order from Chittaranjan Locomotive Works for their cutting-edge KAVACH Train Collision Avoidance System (TCAS)—a tech designed to make train travel safer and smarter. With India’s government pumping a record ₹2,62,200 crore into rail upgrades for 2024-25, safety and tech investments like KAVACH are at the forefront. HBL is a big telecom battery manufacturer with a deep research base. This isn’t just momentum. It’s a mix of strategy and timing. With its diversified portfolio—spanning batteries, electronics, and defense—HBL is well-positioned to ride the wave of India’s infrastructure push. For investors, the takeaway is clear: HBL is thriving in a market that values innovation and foresight.

The Reserve Bank of India’s interventions to prop up the rupee are running into turbulence, with both local and global pressures testing its resolve. Friday’s 0.1% gain for the rupee—fueled by suspected central bank interventions and possible inflows—was a glimmer of hope. Early indicators from the 1-month non-deliverable forward suggest the rupee will open around 84.82-84.83 per dollar, a hair weaker than Friday’s close of 84.7875. This week, all eyes are on the Federal Reserve’s Wednesday meeting. A quarter-point rate cut seems locked in, but the focus will be on the Fed’s tone for 2025. The rupee’s immediate future looks like a wrestling match between RBI’s defense and a rising U.S. dollar, with inflation and Fed signals playing referee.

Hamps Bio, a company involved in the marketing and distribution of pharmaceutical products and the manufacturing of freeze-dried and frozen goods, is tapping into both domestic and international markets. The company operates through a network of over 50 distributors and e-commerce platforms, with a focus on a variety of products ranging from pharma formulations to fruits, vegetables, and herbs.Hamps Bio’s initial public offering (IPO), which opened for bidding on Friday, December 13, is generating significant buzz. By 4:00 p.m. on the first day, the issue was subscribed 8.79 times, with retail investors driving the surge—seeing a massive 15.83 times subscription. The company plans to generate ₹6.22 crore via its IPO by issuing 12.22 lakh new shares, priced at ₹51 per share. The funds will go toward purchasing plant and machinery for its FMCG division, boosting brand visibility, and supporting general corporate expenses.

Steel Authority of India Ltd (SAIL) took a sharp dive on Friday, December 13, dropping nearly 6% during intra-day trading. This marked the end of a six-session winning streak and made it the top loser in the Nifty Metal index. The broader sector also took a hit, with the Nifty Metal index shedding over 2%, reflecting the mounting pressure on metal stocks across the board. The turbulence seems to stem from concerns over China’s economic moves. Reports are circulating that China plans to weaken the Yuan further against the US Dollar next year, adding to uncertainty in the global markets. SAIL’s stock slid to ₹121.90, marking a 5.8% decline, and is now 31% off its 52-week high of ₹175.65 from May 2024. SAIL wasn’t alone in feeling the heat. The entire Nifty Metal sector saw a sell-off, with major players like NMDC, Hindustan Copper, JSW Steel, and Tata Steel all shedding more than 3%. 

Indus Towers just made a notable move in the green energy space, sealing a Power Purchase Agreement with JSW Green Energy Eight Limited, a special purpose vehicle (SPV). The deal, worth around ₹38.03 crore, will see Indus Towers secure 130 MW of renewable energy from a Solar PV plant. The investment comes with a 26% stake in the SPV, aligning with the company’s commitment to achieving its Net Zero goals by ramping up its renewable energy procurement. However, the market’s reaction wasn’t as bright as the company’s green energy ambitions. Indus Towers’ stock dipped 2.5%, hitting an intra-day low of ₹335.35, adding to the tension from Vodafone Group’s announcement to sell its remaining 3% stake in the company.

ICICI Bank just made a big move. The board has greenlit the sale of a 19% stake in ICICI Merchant Services Private Limited (IMSPL), its associate company. This isn’t a casual shuffle of assets—it’s a ₹160-190 crore deal that will streamline the bank’s portfolio and redirect resources toward its core business. The sale agreement should be locked in by June 30, 2025, assuming all the regulatory boxes get ticked. Once the deal’s done, IMSPL steps out of ICICI’s associate status, marking a clean break. And while IMSPL pulled in a respectable ₹475 crore in revenue last fiscal year, ICICI Bank is clearly playing the long game—focusing on core services and sharpening its competitive edge. The stock climbed 2% and it’s not just today, either—ICICI has been riding a wave, up 35% year-to-date and gaining for seven straight months.