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Research Periodic Report Star Cement Surges, Cochin Shipyard Hits Upper Circuit, NHPC Declines; IPO Buzz Continues

Star Cement Surges, Cochin Shipyard Hits Upper Circuit, NHPC Declines; IPO Buzz Continues

Written by - Fisdom Research

December 27, 2024 2 minutes

Market Snapshot

  • Indian markets ended higher on December 27, driven by gains in Asian equities.
  • The Nifty Auto Index led domestic sectoral gains, rising 1%, followed by Nifty Healthcare (+0.8%) and Nifty Bank (+0.3%). 
  • On the downside, Nifty Metal and PSU Bank dropped 1% each, while Nifty Oil & Gas fell 0.7%, and Realty and Consumer Durables shed 0.5% each.

Sectoral Trends

Sector Name % Change Sector Name % Change
NIFTY PHARMA 1.3 NIFTY PRIVATE BANK 0.5
NIFTY AUTO 1.0 NIFTY MEDIA 0.4
NIFTY HEALTHCARE INDEX 0.8 NIFTY FMCG 0.3
NIFTY MIDSMALL HEALTHCARE 0.7 NIFTY BANK 0.3

Top News

  • Star Cement surged 7% as UltraTech Cement announced acquiring an 8.69% stake for ₹851 crore, buying up to 3.7 crore shares at ₹235 each, excluding taxes.
  • Cochin Shipyard hit a 5% upper circuit on December 27 after Adani Ports announced an ₹450 crore contract for eight harbour tugs to be delivered between December 2026 and May 2028.
  • NHPC shares declined as it revised the loss from Sikkim’s Teesta Power Station flash floods to ₹1,075.97 crore, citing debris-covered infrastructure hindering damage assessment.
  • IPO mop up could top Rs. 2 trillion in 2025
  • Indo Farm Equipment IPO to open in on Dec 31st

Technical Outlook: Key Indices

Indices Name Support Resistance
Nifty 23,600 24,150

Bank Nifty

50,500 52,000

Top Gainers and Losers

Top Gainers % Change Top Losers % Change
DRREDDY 2.7 HINDALCO -1.7
INDUSINDBK 2.4 SBIN -1.4
M&M 2.2 COALINDIA -1.4

Trade Ideas Update

  • Our trade ideas success rate has 60% over the past month, even with increased volatility in the benchmark index. Follow Trade Ideas for timely stock insights.
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