Jupiter India Fund has bought 6.32 lakh shares in Sula Vineyards

Opening Bell:

SGX Nifty is down by 82.0 points in the early morning trade, indicating a negative opening for Indian stock market.

Asia-Pacific shares traded lower, taking the lead from losses on Wall Street while investors also looked ahead to some economic data in the region. Japan’s core consumer price index at 3.7 percent in November on an annualized basis, marking the fastest pace since December 1981. The Japanese Nikkei is down by 1.15 percent. South Korea’s Kospi declined 1.53 percent. Hong Kong’s Hang Seng is down by 0.53 percent in the early morning trades.

Wall Street’s major indices closed lower on Thursday with technology-heavy Nasdaq’s 2 percent drop leading losses as investors worried that data showing a resilient economy would lead the US Federal Reserve to keep hiking interest rates for longer than feared. S&P 500 declined by 1.45 percent.

Stocks News:

?Reliance Industries Limited (RIL) has announced that its subsidiary Reliance Jio Infocomm Limited has been awarded an order from Indian Oil Corporation Limited (IOCL) to provide an SD-WAN (Software Defined Wide Area Network) solution to power the oil company’s retail automation and critical business processes across 7,200 outlets for a period of 5 years.

?RVNL has received contract for ‘construction of Bhesan depot cum workshop, for Surat Metro Rail Project Phase-1, DC 2, from Gujarat Metro Rail Corporation (GMRC). The total cost of project is Rs 198.93 crore.

?Kensai Nerolac Paints has invested Rs 10.99 crore in its subsidiary in Sri Lanka, Kansai Paints Lanka, wherein it holds 60 percent stake. Sri Lankan subsidiary has allotted 8.1 crore ordinary shares at LKR 6 per share to Kansai Nerolac.

?Jupiter India Fund has bought 6.32 lakh shares in Sula Vineyards at an average price of Rs 361 per share, and Goldman Sachs Funds Goldman Sachs India Equity Portfolio acquired additional 6.95 lakh shares at an average price of Rs 351.48 per share. Goldman Sachs already held 12 lakh shares or 1.43 percent stake in the company.

?Foreign institutional investors (FIIs) have bought shares worth Rs 928.63 crore, while domestic institutional investors (DIIs) purchased shares worth Rs 2,206.59 crore on December 22, as per provisional data available on the NSE.

Domestic and International Events

• Prime Minister Narendra Modi on December 22 chaired a high-level meeting to assess the Covid-19 situation in the country, the preparedness of health infrastructure and logistics, the status of the vaccination campaign, and the emergence of new SARS-CoV-2 variants and their public health implications for the country.
• The number of Americans filing new claims for unemployment benefits increased less than expected last week, pointing to a still-tight labor market, while the economy rebounded faster than previously estimated in the third quarter.
• Japan’s core consumer inflation hit a fresh 40-year high of 3.7 percent in November as companies continued to pass on rising costs to households, data showed on Friday, a sign price hikes are spreading to broader sectors of the economy.
• In the India long-only equity portfolio, Chris Wood added REC Limited, formerly Rural Electrification Corporation, with a 4 percent weighting. He did this by shaving investments in HDFC Bank, Bajaj Finance, ICICI Prudential Life Insurance and ICICI Lombard General Insurance by one percentage point each.

Key Equity Indices