Key economic indicators
Actual on 16:00 on December 13
World economic indicators
|
Stocks
|
Change
|
|---|---|
|
🇮🇳 Nifty
|
+ 0.96%
|
|
🇮🇳 Sensex
|
+ 1.06%
|
|
🇮🇳 India VIX
|
- 1.54%
|
|
🇺🇸 S&P 500
|
+ 0.33%
|
|
🇺🇸 Nasdaq
|
+ 0.69%
|
|
🇺🇸 Dow Jones
|
- 0.05%
|
|
🇪🇺 Euro Stoxx
|
+ 0.19%
|
|
🇨🇳 China A50
|
- 2.47%
|
|
🇨🇳 DJ Shanghai
|
- 2.11%
|
|
🇬🇧 FTSE 100
|
- 0.31%
|
|
🇯🇵 Nikkei 225
|
- 1.02%
|
|
🇮🇩 IDX Composite
|
- 0.94%
|
|
🇸🇦 Tadawul All Share
|
- 0.41%
|
Top Gainers on Indian Stock Market
|
Stocks
|
Change
|
|---|---|
|
Tech Mahindra
|
+ 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
|
|---|---|
|
Steel Authority of India
|
- 5.24%
|
|
Indian Overseas Bank
|
- 4.65%
|
|
Glenmark Pharmaceuticals
|
- 4.63%
|
|
NMDC
|
- 4.53%
|
|
UCO Bank
|
- 4.36%
|
News
Shipbuilder Stocks Sinking—But There’s More Beneath the Surface
India’s ambitious $6 billion plan to build six cutting-edge submarines has hit choppy waters, thanks to contractor complaints about testing protocols at sea. Shares of Mazagon Dock Shipbuilders and GRSE took a nosedive on Friday, slipping over 4% each. Mazagon Dock shares dipped to â‚ą4,741.30, while GRSE touched â‚ą1,701.85—both marking notable drops. On the international front, German giant ThyssenKrupp Marine Systems and Spain’s Navantia SA, both paired with Indian firms, are competing for the deal. But procedural hiccups could push timelines, leaving India’s naval expansion ambitions momentarily stalled. Despite the current sell-off, both Mazagon and GRSE remain long-term heavyweights. Mazagon has been on a dream run, delivering 132% returns over the past year and 110% year-to-date. GRSE isn’t far behind, clocking 110% in one year and 96% YTD.
Agrochemicals: Slow and Steady, But No Double-Digit Comeback Yet
The agrochemicals industry is gearing up for a modest bounce back, with CRISIL Ratings predicting 7-9% growth next fiscal, a step up from this year’s 5-6%. The boost comes courtesy of steady domestic demand and improving export volumes. Margins are inching up, expected to land at 12-13% next fiscal—a slight recovery but still shy of the robust 15-16% seen before the pandemic. Cautious optimism rules the boardrooms, with companies choosing to play it safe on capital expenditure and focus on tightening their cash flows and balance sheets. While export volumes look promising, revenue growth this year is pegged at a modest 3-4%, courtesy of pricing pressure from Chinese competitors. Debt metrics are holding steady, with interest coverage at a comfortable 8x and debt-to-Ebitda hovering around 1.1-1.2x. The agrochemicals sector is moving forward, but don’t expect a sprint—it’s a marathon for now.
India-UK FTA Talks
SAfter months on pause, negotiations for the India-UK free trade agreement (FTA) are set to restart by late January. India and the UK have been at this since January 2022, clocking 14 rounds of negotiations. From the UK’s perspective, it’s about more access for their goods like automobiles and whiskey, plus tweaks on rules of origin and intellectual property rights. India’s stance? It’s all about visas—making it easier for Indian professionals to work in the UK. Beyond trade in goods, there’s an investment treaty also on the negotiating table. While the UK is India’s 16th largest trading partner for goods, services trade paints a brighter picture. UK firms have pumped $225.5 billion into India, while Indian businesses have invested $12.9 billion in the UK. Clearly, this isn’t just about trade, it’s about deepening economic ties.
Dixon Technologies – a bull run
Dixon Technologies, stock has smashed through the ₹18,000 mark, setting a fresh record at ₹18,034 per share—its fourth straight day in the green. But the real story? A jaw-dropping 200% rise since February 2024. Yep, from ₹5,991 to ₹17,960, this isn’t just a bull run, it’s a stampede. With policies like the Production-Linked Incentive (PLI) scheme and SPECS boosting local production, coupled with the global “China+1” strategy, Dixon is cashing in big time. But it’s not just about policies—it’s the partnerships. Dixon’s collaboration with Google for Pixel smartphones, HP, and Asus for IT hardware is a game-changer. Laptops, smartphones, you name it—Dixon’s Chennai plant is gearing up to churn out 2 million units annually by FY25, targeting ₹3,500–4,000 crore in revenue by FY26.
ICICI Bank Trims the Fat, Divests IMSPL Stake to Refocus Strategy
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.
Indus Towers Stock Takes a Hit
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.
China’s Economic Woes Weigh on Metal Stocks
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%.
Hamps Bio IPO Draws Strong Demand
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 â‚ą6.22 crore via its IPO by issuing 12.22 lakh new shares, priced at â‚ą51 per share. The funds will go toward purchasing plant and machinery for its FMCG division, boosting brand visibility, and supporting general corporate expenses.
Overview
Indian stock markets reversed early losses on Friday, December 13, and ended the day on a strong note.The Sensex jumped 843.16 points, or 1.04%, to finish at 81,289.96. Meanwhile, the Nifty gained 219.60 points, or 0.89%, finishing at 24,768.30 points. With India’s retail inflation easing to 5.48% in November, falling within the Reserve Bank of India’s comfort zone, the economic backdrop is looking favorable.
In terms of sectoral movements, FMCG, private banks, and consumer durables posted gains, while media, metal, and pharma sectors lagged.
The rupee closed at 84.7875 against the U.S. dollar, reflecting a 0.1% weekly decline. The currency faced pressure from sustained dollar demand in the non-deliverable forwards market, compounded by a weaker Chinese yuan.
Oil prices held steady on Friday, December 13, with both Brent crude and U.S. West Texas Intermediate (WTI) crude showing modest increases. Gold prices edged higher on Friday, December 13, and were set for a weekly gain. Silver stayed steady at $30.94 per ounce.
The US stock markets showed mixed results on Thursday, December 13, as investors awaited key economic data ahead of the Federal Reserve’s December 17-18 meeting.
European stock markets edged lower on Friday, with investors cautious about the economic outlook and the pace of monetary easing in the euro zone for the upcoming year.
The UK’s FTSE 100 saw some positive movement, as the pound weakened after UK GDP data revealed that the economy shrank for the second consecutive month in October.