Newsmakers: Indian Bank, MCX, Zen Technologies and ICICI Bank among top 10 stocks that moved the most on December 8
The Indian market for the second straight session witness buying spree as Sensex jumped over 1000 points and Nifty surpassed 17450-level at the market close on Wednesday. The surge was mainly led by banking and financial stocks, reacting to the RBI MPC’s bi-monthly policy decision released today. The Monetary Policy Committee of the Reserve Bank of India for the ninth consecutive time has kept the benchmark interest rates unchanged to 4 per cent and maintained the accommodative stance. At the market close, the BSE Sensex surged 1016 points or 1.76 per cent to 58645, and Nifty50 soared by 293 points or 1.7 per cent to at the market close. Even the broader markets following the suite of benchmarks grew as mid and small-cap each gained almost 2 per cent at the market close. Here is a list of 10 buzzing stocks to watch out for:
RIIL: Up 20%
The shares of the company closed in green at Rs 999.65 with a gain of 20 per cent as per NSE. As per BSE, the shares of the company closed in green at Rs 997.90 with a gain of 20 per cent. Zee Business reported that a bill to amend the Special Economic Zones (Amendment) Act is likely to be approved at the Union Cabinet meeting scheduled to be held today. Sources aware of the development has informed Zee Business that big changes are likely to be announced in the Act to attract investment. It will add special rules and easy conditions for new businesses. It will also encourage single/multi-partner investment of foreign companies. According to sources, the Act is being amended with an aim to attract international investors to SEZ. Recently, SEZ denotification has to be approved by many big investors and efforts are being made to make those company to rejoin and take benefit of other schemes as well. Source: riil.in
Indian Bank: Up 5.54%
The shares of the company closed in green at Rs 154.30 with a gain of 5.54 per cent as per NSE. As per BSE, the shares of the company closed in green at Rs 154.25 with a gain of 5.51 per cent. In the afternoon, the psu bank stocks were on a move with Nifty PSU Bank index trading 1.38% higher. The Reserve Bank of India (RBI) made the announcements of the Monetary Policy Committee on Wednesday, December 8, 2021. RBI Governor Shaktikanta Das addressed the review of the MPC. It has to be noted that in today's policy, the Reserve Bank had kept the key interest rate unchanged in its after monetary policy review in August citing inflationary concerns. The repo rate and reverse repo rate unchanged at 4 per cent and 3.35 per cent, respectively. Also, it maintained its "accommodative" stance to ensure better economic recovery. Source: Indian Bank Twitter
BF Utilities: Up 5.48%
The shares of the company closed in green at Rs 412 with a gain of 5.48 per cent as per NSE. As per BSE, the shares of the company closed in green at Rs 411 with a gain of 4.99 per cent. Zee Business reported that a bill to amend the Special Economic Zones (Amendment) Act is likely to be approved at the Union Cabinet meeting scheduled to be held today. Sources aware of the development has informed Zee Business that big changes are likely to be announced in the Act to attract investment. It will add special rules and easy conditions for new businesses. It will also encourage single/multi-partner investment of foreign companies. According to sources, the Act is being amended with an aim to attract international investors to SEZ. Recently, SEZ denotification has to be approved by many big investors and efforts are being made to make those company to rejoin and take benefit of other schemes as well. Source: bfutilities.com
MCX: Up 5.12%
The shares of the company closed in green at Rs 1707.40 with a gain of 5.12 per cent as per BSE. As per NSE, the shares of the company closed in green at Rs 1,703 with a gain of 4.91 per cent. SEBI issues consultation paper regarding developing One Commodity One Exchange. Source: MCX Twitter
Zen Technologies: Up 3.10%
The shares of the company closed in green at Rs 214.45 with a gain of 3.10 per cent as per NSE. As per BSE, the shares of the company closed in green at Rs 213.95 with a gain of 2.95 per cent. Unistring Tech Solutions Private Limited (UTS), a subsidiary of Zen Technologies Limited, has secured an order worth Rs 61 crores from an Indian defence PSU. UTS has embraced the 'less is more’ philosophy following Zen's investment and has achieved this milestone order by ensuring laser-like focus on developing electronic warfare and counter-drone technologies. Source: zentechnologies.com
ICICI Bank: Up 2.57%
The shares of the company closed in green at Rs 753.55 with a gain of 2.57 per cent as per NSE. As per BSE, the shares of the company closed in green at Rs 753.40 with a gain of 2.55 per cent. In the afternoon, The private banking stocks were on a move with Nifty Private Bank index trading 1.38% higher. Source: ICICI Bank Cares Twitter
Tata Motors: Up 2.46%
The shares of the company closed in green at Rs 493.75 with a gain of 2.46 per cent as per BSE. As per NSE, the shares of the company closed in green at Rs 493.60 with a gain of 2.45 per cent. India’s largest commercial vehicle manufacturer has announced an impending price hike in its commercial vehicle range. An increase in price in the range of 2.5%, will be implemented from January 1, 2022, and will be put into effect across segments – M&HCV, I&LCV, SCV and Bus, basis individual model and variant of the vehicle. The increase in the prices of commodities such as steel, aluminium and other precious metals, in addition to higher costs of other raw materials, has incited this price hike in commercial vehicles. While the company is absorbing a significant portion of the increased costs at various levels of manufacturing, the steep rise in overall input costs makes it imperative to pass on some residual proportion via a minimal price hike. Source: Reuters
Reliance Industries: Up 1.64%
The shares of the company closed in green at Rs 2,420.95 with a gain of 1.64 per cent as per NSE. As per BSE, the shares of the company closed in green at Rs 2417.40 with a gain of 1.50 per cent. Abu Dhabi Chemicals Derivatives Company RSC Ltd (“TA’ZIZ”) and Reliance Industries Limited (RIL), have agreed to launch ‘TA’ZIZ EDC & PVC’, a world-scale chemical production partnership at the TA’ZIZ Industrial Chemicals Zone in Ruwais. The new joint-venture will construct and operate a Chlor-Alkali, Ethylene Dichloride (EDC) and Polyvinyl Chloride (PVC) production facility, with an investment of more than $200 crore. The first investment by Reliance in the region strengthens ties between the UAE and India. Source: ril.com
DLF: Up 1.53%
The shares of the company closed in green at Rs 397.35 with a gain of 1.53 per cent as per BSE. As per NSE, the shares of the company closed in green at Rs 396.80 with a gain of 1.43 per cent. The real estate company has plans to launch projects worth Rs 1,800 crore in the second half of FY22 (H2FY22). It will launch projects of 77 lakh square feet that will include value homes, premium and commercial properties. ( Info Given In Analyst Call) Source: dlf.in
Vodafone Idea: Up 0.70%
The shares of the company closed in green at Rs 14.35 with a gain of 0.70 per cent as per NSE. As per BSE, the shares of the company closed in green at Rs 14.29 with a gain of 0.56 per cent. The telecom in its clarification to the news item published in a national daily on getting back the bank guarantees from DoT said it has not received any bank guarantees from DoT. It added that the reform package announced by the government on September 15, 2021, reads "there are no requirements for multiple Bank Guarantees (BGs) in different Licenced Service Areas (LSAs) regions in the country. Instead, One BG will be enough." Source: Vi Customer Care Twitter