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Benchmark indices extended the opening gain and trading at day’s high with Nifty around 17500
The Sensex was up 479.89 points or 0.82% at 58733.71, and the Nifty was up 137.50 points or 0.79% at 17491.50. About 2360 shares have advanced, 679 shares declined, and 96 shares are unchanged.
Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments:
The Nifty is in positive terrain, the breakout level was 17350 and we managed to close above that on Friday. This should allow the index to move higher to 17575-17600 and then 17800.
A good base has been formed at 17100 and as long as we can keep above that, all dips can be utilized to accumulate long positions.
Buzzing
The company’s Motorcycles sales jumped 7 percent to 73,739 units in December 2021, against 68,995 units in December 2020. However, its export rose 144 percent at 8,552 units versus 3,503 units, YoY.
The company’s Commercial vehicle segment sales increased by 25.8 percent to 6,154 units during December 2021, against 4,892 units sold in December 2020.
Its total domestic sales were up 27.6 percent at 5192 units versus 4069 units, YoY.
Eicher Motors was quoting at Rs 2,677.70, up Rs 87.75, or 3.39 percent on the BSE.
Edelweiss Financial raises over Rs 4,500 mn through public issuance of NCDs
Edelweiss Financial Services (EFSL), announced that the issue of Secured Redeemable Non-Convertible Debentures (NCDs) has been successfully completed and the company has allotted 45,62,472 NCDs of the face value of Rs 1,000 each, amounting to Rs 4,562.47 million.
EFSL had decided to do an early closure of the issue on December 22, 2021 against the scheduled closure on December 27, 2021.
Edelweiss Financial Services was quoting at Rs 73.65, up Rs 1.75, or 2.43 percent on the BSE.
UPL swaps USD 700 mn acquisition loan with a sustainability loan
UPL has raised a second tranche of USD 700 million sustainability linked loan (SSL) on December 31, 2021 with a reduction of interest cost by 35bps and an opportunity for a further reduction of 5bps on achievement of sustainability indicators agreed with the banks.
The first tranche of USD 750 million was raised in March and April 2021. Of the USD 1.45 billion, the debt maturity for USD 1.25 billion gets extended by two years to FY 2026 (against FY2024 earlier). The SLL also provides a complete pre-payment flexibility
UPL was quoting at Rs 751.60, up Rs 4.55, or 0.61 percent on the BSE.
Bajaj Auto December auto salesBajaj Auto sold 3,62,470 units in December 2021 against 3,72,532 units in December 2020, down 2 percent. Its domestic sales has increased by 5% at 1,45,979 units against 1,39,606 units and exports were down 7% at 2,16,491 units versus 2,32,926 units, YoY.Bajaj Auto was quoting at Rs 3,262.50, up Rs 11.70, or 0.36 percent.
The BSE Auto index rose 1 percent supported by the Eicher Motors, Tata Motors, Tube Investments
Forex reserves decrease by $587 million to $635.08 billion
India’s forex reserves decreased by $587 million to $635.08 billion for the week ended December 24, the RBI said on Friday. In the previous week ended December 17, the overall reserves had decreased by $160 million to $635.667 billion. The kitty had touched a lifetime high of $642.453 billion in the week ended September 3, 2021.
For the reporting week ended December 24, the dip in the overall reserves was on account of a decline in foreign currency assets (FCA), a major component of the overall reserves. FCA dipped by $847 million to $571.369 billion in the reporting week, the RBI data showed.
GST collection at Rs 1.29 lakh crore in December
GST revenue collected in December 2021 was over Rs 1.29 lakh crore, 13 per cent higher than the same month last year, the Finance Ministry said on Saturday. Though the collection was lower than Rs 1.31 lakh crore mopped up in November, December is the sixth month in a row when revenue from goods sold and services rendered stood at over Rs 1 lakh crore.
The gross GST revenue collected in the month of December 2021 is Rs 1,29,780 crore, of which CGST is Rs 22,578 crore, SGST is Rs 28,658 crore, IGST is Rs 69,155 crore (including Rs 37,527 crore collected on import of goods) and cess is Rs 9,389 crore (including Rs 614 crore collected on import of goods),” the Finance Ministry said in a statement.
Gainers and Losers on the BSE Sensex in the early trade:
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 575.39 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 1,165.62 crore in the Indian equity market on December 31, as per provisional data available on the NSE.
