morning update

 

Indices at 10:00 am

Nifty50 14,031 ▲ 49 (+0.3%)

Sensex 47,935 ▲ 184 (+0.3%)

Nifty Bank 31,349 ▲ 85 (+0.2%)

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In the news

 
Escorts’ December tractor sales soar

·  Escorts sold 7,733 tractors in December (its highest ever in December) registering an 88% growth over December last year. Domestic sales growth was even higher at 90%. 

· The company believes the macroeconomic factors are favourable for continued growth. However, rising inflation and input prices could act as headwinds. Shares of Escorts are up 3.2% today. Tractor market leader M&M too is upbeat with a 1.6% rise. 
 

 

MOIL hikes prices from today

·  State-owned MOIL (formerly Manganese Ore (India) Limited) has hiked ferro-manganese prices by 10-15%, effective today. 

· Ferro-manganese is used as a deoxidiser in manufacturing iron and steel. Shares of MOIL traded 2.6% higher today morning and have gained over 15% in December. 
 

 

Antony Waste Handling gets listed

·  Shares of Antony Waste Handling debuted at a +36.5% premium to its issue price of ₹315. The debut is tepid compared to the listing gains delivered by recent IPOs of Mrs. Bectors Food (~73%) and Burger King (~87%). 

· Antony Waste Handling is the second-largest player in the domestic municipal solid waste (MSW) management sector. Its ₹300 crore issue was subscribed 15 times. 
 

Events in this week

         Friday: Auto sales volumes 

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Sectoral indices

Top gainers	Top losers
Nifty PSU Bank ▲ 1.9%	Nifty Pharma ▼ 0.2%
Nifty Realty ▲ 0.8%	Nifty Metal ▼ 0.1%

 

Global markets	Today's movement
Nikkei 225 (Japan) 30/12	▼ 0.4%
Hang Seng (Hong Kong) 31/12	▲ 0.3%
SSE Composite (China)	▲ 1.7%
Dow Jones (US) 24/12	▲ 0.6%

 

Fact of the day

Samsung was founded in 1938 as a shop selling vegetables and dried fish.
Source: Success Story 

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Disclosures and Disclaimer

 

Investment in securities markets are subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.

 

Upstox Team

Authorised Partner