Key economic indicators
Actual on 22:00 on December 12
World economic indicators
|
Stocks
|
Change
|
|---|---|
|
🇮🇳 Nifty
|
- 0.42%
|
|
🇮🇳 Sensex
|
- 0.32%
|
|
🇮🇳 India VIX
|
- 0.4%
|
|
🇺🇸 S&P 500
|
- 0.27%
|
|
🇺🇸 Nasdaq
|
- 0.39%
|
|
🇺🇸 Dow Jones
|
- 0.19%
|
|
🇪🇺 Euro Stoxx
|
+ 0.1%
|
|
🇨🇳 China A50
|
+ 1.32%
|
|
🇨🇳 DJ Shanghai
|
+ 0.82%
|
|
🇬🇧 FTSE 100
|
+ 0.12%
|
|
🇯🇵 Nikkei 225
|
+ 1.27%
|
|
🇮🇩 IDX Composite
|
- 0.94%
|
|
🇸🇦 Tadawul All Share
|
- 0.41%
|
Top Gainers on Indian Stock Market
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Stocks
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Change
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|---|---|
|
Tech Mahindra
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+ 1.67%
|
|
Bharti Airtel
|
+ 1.56%
|
|
Indusind Bank
|
+ 1.31%
|
|
Infosys
|
+ 0.92%
|
|
Tata Consultancy Services
|
+ 0.66%
|
Top Losers on Indian Stock Market
|
Stocks
|
Change
|
|---|---|
|
NTPC
|
- 2.76%
|
|
Hindustan Unilever
|
- 2.42%
|
|
Tata Motors
|
- 1.59
|
|
Maruti Suzuki India
|
1.42%
|
|
Larsen & Toubro
|
1.26%
|
News
PropShare Platina REIT Crowned Most Expensive Stock
PropShare Platina REIT has stormed in, claiming the title of the priciest stock with a jaw-dropping debut at â‚ą10.5 lakh per unit. PropShare Platina is the first to feature the sleek new SM REIT license, thanks to SEBI’s regulations introduced in March 2024. Focused on bite-sized, high-impact real estate plays, SM REITs are tailored for investors who want a piece of the action without diving into mammoth portfolios. Think â‚ą50-500 crore market caps and single-property specialization, not the sprawling diversification of traditional REITs. The buzz around PropShare Platina’s â‚ą353 crore issue was electric—it sold out fast, oversubscribed 1.19 times during its December 2-4 window.
BlueStone Sparkles Gears Up for IPO
BlueStone Jewellery, the Bengaluru-based e-commerce juggernaut for fine jewellery, is ready to dazzle the stock market. Filing its draft papers with SEBI on December 12, the company is planning a blockbuster IPO that promises to be as glittering as its diamond collections. Backed by heavyweights like Ratan Tata and Zerodha’s Nikhil Kamath, BlueStone is raising funds to expand its horizons and solidify its status as a top lifestyle brand. Here’s the breakdown: the IPO includes a ₹1,000 crore fresh issue and an offer for sale (OFS) of 2.4 crore shares. Proceeds from the fresh issue—are earmarked for working capital and corporate expenses.
Foreign Direct Investments Debates
Speaking at the CII Global Economic Policy Forum 2024, Panagariya ( Chairman of the 16th Finance Commission) emphasized that India could take a page out of developed countries’ playbooks. Selectively embracing Chinese investments could bolster local manufacturing and position India better in the global supply chain. It’s a perspective backed by the Economic Survey 2023-24, which highlighted how increased FDI from China could enhance export potential and help India carve a bigger slice of the international trade pie. Panagariya underlined the importance of safeguarding against investments from “unfriendly countries” that might harm national interests. The approach isn’t about blind acceptance; it’s about striking the right balance.
India’s Hotel Industry waiting In for future growth
India’s hotel industry is on a roll, riding a wave of demand that’s outpacing supply—and by a comfortable margin, according to Axis Capital’s latest report. Demand is set to grow at a brisk 12% CAGR for FY24-27, outshining the modest 9% CAGR expected in supply. Structural drivers are paving the way for sustained growth. Leisure travel, buoyed by rising disposable incomes and wealthier households, has been a consistent star, accounting for nearly half of total hotel demand. Business travel, after years of decline, is primed for a rebound as corporate profits and travel budgets recover. Sure, the sector has its risks—seasonality, economic slowdowns, and new market entrants could shake things up. But for now, de-leveraged portfolios and better cash flows have set a solid foundation.
India and EU: Gearing Up for a Trade Pact That Packs a Punch
Union Minister Piyush Goyal has set the stage for a high-stakes economic partnership, reaffirming India’s commitment to crafting a Free Trade Agreement (FTA) with the European Union. And it’s not just talk—this pact is aimed to be ambitious, balanced, and, most importantly, a win-win for both sides. India-EU trade numbers already speak volumes. With $137.41 billion in goods trade and $51.45 billion in services trade in 2023-24, the EU isn’t just a trading partner—it’s India’s biggest one. Goyal underscored how an FTA could turbocharge these numbers, giving India’s exports a much-needed boost and making global supply chains more robust. The European delegates were equally bullish, highlighting untapped opportunities and pointing to the India-EU Trade and Technology Council—a rare, strategic collaboration that India otherwise shares only with the U.S.
Gopal Snacks Battles Back After Factory Fire Scare
It’s been a crunchy day for Gopal Snacks’ investors—shares nosedived 10% to ₹406.75 on the BSE following a fire at the company’s Rajkot manufacturing plant. The flames, though dramatic, thankfully didn’t claim any lives or cause injuries, and the company’s IT systems emerged unscathed. In a statement to the exchange, Gopal Snacks emphasized its top priority: the safety of its team. Production has already been cranked up at their Modasa and Nagpur plants to keep the snack train running. For now, the market is jittery, but Gopal Snacks’ swift damage control and diversified manufacturing footprint suggest this is more of a hiccup than a crunch-time crisis.
HDFC Bank Shares Dip Slightly After SEBI Warning
HDFC Bank shares took a modest hit, slipping nearly 0.7% on Thursday after SEBI issued an administrative warning regarding non-compliance in its investment banking operations. This blip comes amidst an otherwise strong six-month rally that saw HDFC Bank shares surge 18%, adding â‚ą3 lakh crore to its market cap. Since its merger with HDFC, the bank has emerged as a top performer among private lenders, thanks to superior margins and solid asset quality—even as peers face rising concerns over unsecured loans. Despite the minor setback from SEBI’s warning, the bank’s strong fundamentals and positive analyst sentiment suggest this is merely a small bump on an otherwise smooth road. Shares closed at â‚ą1,858.95, down just 0.25%.
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MTNL Shares Soar on Government-Backed Bond Payment Assurance
MTNL shares shot up by 13.7% on Thursday, closing at â‚ą61.89 on the BSE, after the company reassured investors that its sovereign guarantee would cover a bond payment default. The rally came in response to MTNL’s announcement that it failed to fund the semi-annual escrow deposit for its 6.85% MTNL Bond Series VI, due on December 21, 2024, citing insufficient funds. However, under a Tripartite Agreement (TPA) involving MTNL, the Department of Telecommunications, and Beacon Trusteeship Ltd., the Indian government is obligated to invoke its sovereign guarantee in such cases, ensuring bondholders receive their payments. This reassurance added fuel to the recent upswing in MTNL’s stock, which has already surged 24.63% over the past month.
Bhartias Sip 40% of HCCB—IPO Brewing on the Horizon
The Jubilant Bhartia Group, known for backing Jubilant FoodWorks (Domino’s Pizza’s franchisee in India), is shaking up the beverage game. They’ve inked a deal to snag 40% of Hindustan Coca-Cola Beverages (HCCB), Coca-Cola’s bottling arm in India. This transaction could clock in at a hefty â‚ą12,500 crore, pegging HCCB’s valuation at a whopping â‚ą31,250 crore. HCCB’s numbers are bubbly – FY24 revenue surged 9.2% to â‚ą14,021 crore, while profits fizzed up an impressive 247% to â‚ą2,808.3 crore. Bhartias plan to cover 40% of the deal themselves—around â‚ą4,000-â‚ą5,000 crore—while Goldman Sachs could step in to fund the rest. This bold move setting the stage for HCCB’s IPO in a few years. The entry of a corporate heavyweight like Jubilant is bound to stir up excitement among investors.
ONGC Ramps Up Tech Talks and Drilling to Reverse Output Dip
India’s state-owned energy giant ONGC is on the move, working on tech collaborations with big names like Shell and Petronas to breathe new life into its offshore gas fields. The numbers tell a story of challenges and resilience. Gas production took a dip, with 4.912 BCM in Q2FY25 versus 5.018 BCM last year. Looking ahead, ONGC aims to ramp up its acreage acquisition to 2.6 lakh square kilometers, a sharp rise from 2023’s 1.5 lakh. By 2027, the company targets a 20% jump in crude and gas output, eyeing a total of 47 MMtoe, up from the current 39.45 MMtoe.
Overview
India’s economic indicators presented a mixed picture. CPI-based inflation eased to 5.48% in November, supported by better vegetable supplies. Meanwhile, industrial production hit a three-month high of 3.5% in October, fueled by a festive season boost in consumer goods and garment manufacturing. The Indian rupee faced a setback on Thursday, falling to an all-time low as continuous depreciation pressures and heightened demand for the U.S. dollar in the non-NDF market pulled it down. The rupee hit a bottom of 84.88 before ending a bit higher at 84.8575, still indicating a small decline for the day. The Reserve Bank of India (RBI) is actively offloading dollars in the spot market, aiming to protect the rupee from additional declines.
Mutual funds were actively reorganizing in November, injecting ₹264 billion into the secondary market. The active churn highlights fund managers’ efforts to optimize portfolios, with movements across large, mid, and small-cap stocks adding intrigue for investors tracking the market.
Gold prices soared by â‚ą500, hitting â‚ą80,900 per 10 grams, a â‚ą2,000 leap over three days. Meanwhile, silver joined the rally, climbing â‚ą700 to â‚ą97,000 per kg. With retailers and jewellers showing no signs of slowing down, the precious metals market is basking in the glow of strong demand.
Thursday’s opening bell brought a mixed bag for Wall Street. The Dow ticked up a modest 20 points, clinging to optimism at 44,168.66, while the S&P 500 and Nasdaq slid into the red, losing 0.16% and 0.44% respectively. Across the pond, the European Central Bank trimmed its benchmark rate to 3%, signaling concern over waning economic growth and geopolitical uncertainties. While the move is designed to cushion the eurozone’s economy, the shadow of potential U.S. tariffs looms large, adding another layer of complexity to global trade dynamics. Nikkei surged 1.21%, marking its fourth consecutive session of gains. The index closed at a two-month high, buoyed by Wall Street’s momentum and expectations of a Federal Reserve rate cut. For the first time in nearly two months, the Nikkei crossed the 40,000 threshold, showcasing robust investor confidence.