Important stock market news to watch out for today Dec 01

Here is the important stock market news to watch out for today.

  • Markets to open on a positive note; support @12900, resistance at 13035.
  • FIIs bought shares worth Rs7712.98cr (cash), sold Rs4968.9cr in index futures.
  • US markets were end mixed. Asian markets opened with gains.
  • Brent crude was 1.22% lower at $47.59 per barrel.
  • Auto Stocks will be in focus as M&M, Tata Motors, Bajaj Auto, Maruti Suzuki, TVS Motor, Hero MotoCorp and Ashok Leyland will release their November sales data.
  • Hero Motocorp appointed Michael Clarke as chief operating officer.
  • Dr Reddy’s Laboratories to acquire select anti-allergy brands from Glenmark in Russia, Ukraine, Kazakhstan and Uzbekistan.
  • Hindustan Construction Company (HCC), in a Joint Venture with Vensar Constructions has been awarded two separate contracts worth Rs236cr from the North East Frontier Railway. HCC’s share in the JV stands at 55%.
  • SRF’s resin plant, set-up in Thailand by its wholly-owned subsidiary has been commissioned and capitalised at a cost of $19 million.
  • Indiabulls Housing Finance sold further portion of its stake in OakNorth Bank Plc worth Rs 93 crore.
  • Premier Explosives wins contract worth Rs14cr from Ministry of Defence for supply of 26 mm Chaffs.
  • TVS Motor to acquire 100% stake in advanced fleet management solutions provider Intellicar Telematics for a cash consideration of Rs15cr.
  • India Grid Trust signs share purchase agreement to acquire 74% stake in Parbati Koldam Transmission from Reliance Infrastructure.
  • Kesoram Industries Fund raising committee and board approve issuance of NCDs or OCDs aggregating to Rs2,200cr on a private placement basis.
  • Gufic Biosciences granted patent by the Eurasian patent office for invention of a 'freeze dried parenteral composition of tigecycline and process for preparation thereof.
  • Punjab National Bank’s Base rate cut by 15 basis points to 8.65% from 8.8%, effective from December 1, 2020.
  • Tata Steel Long Products in focus as Tata Steel has completed the open market sale of 4.51 lakh shares between November 23-27.
  • Odisha Mineral Development Corporation gets order from the Steel & Mines department of the Government of Odisha, allowing the company to dispose stock from its Bhadrasahi Iron & Manganese mining lease over 998.7 hectares.
  • Future Supply Chain Solutions appoints DMKH & Co. as statutory auditors.
  • Spandana Sphoorty approved and allotted 500 rated, listed, senior, secured, transferable, taxable, redeemable NCDs worth Rs10 lakh each, aggregating to Rs500cr.
  • TML Holdings, a wholly-owned subsidiary of Tata Motors has successfully priced a $300 million notes at 5.5%.
  • Bennett, Coleman & Company reduced stake in Future Consumer to 4.25% from 6.33% via open market transaction.
  • HealthCare Global Enterprises entered into a Share Purchase Agreement with Kamini A Rao and her family members (minority shareholders) for the acquisition of 46,695 Equity Shares aggregating to 49.9 percent in BACC. The company approved the appointment of Meghraj Arvindrao Gore as the CEO.
  • ICICI Lombard: Gets in-principle approval to scheme of amalgamation with Bharti Axa for its general insurance business.
  • Bata India: Announces the appointment of current CEO Sandeep Kataria as the company’s global CEO - the first Indian to be elevated to this role.
  • VA Tech Wabag: Incorporates new subsidiary ‘Kopri Bio Engineering Pvt. Ltd.’ to carry out the business of manufacturing, processing, owning, operating and maintaining seqage treatment plant among other businesses.
  • Aberdeen Standard Investments (Asia) Ltd increased its stake in Fortis Healthcare to 5.02% from 4.96% via open market purchases.