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CORPORATE AND ECONOMY NEWS

* Bharti Airtel: Bharti Airtel on Tuesday said it has acquired an 8% stake in Immensitas Private Limited, which runs Lemnisk, as part of the telecom company’s startup accelerator program. Airtel will integrate the Bengaluru-based startup’s services across several of its platforms, including adtech platform Airtel Ads, digital entertainment apps Wynk Music and Airtel Xstream and online marketplace Airtel Thanks App.

* Jubilant FoodWorks: The company’s flagship brand Domino's Pizza launched 20- minute deliveries across 20 zones in fourteen cities on Tuesday. Earlier, the brand had pioneered 30-minute deliveries and established itself as a market leader in the QSR sector.

* Adani Green Energy: Adani Group-backed renewable energy firm, Adani Green Energy has received the Zero Waste to Landfill (ZWL) certification for 100% of its operating capacity. The certification indicates that Adani Green is equipped with a fully effective waste management system for all its operational sites. this assessment was undertaken by Intertek, which delivers innovative and bespoke assurance, testing, inspection, and certification solutions. The robust audit procedure by Intertek was undertaken on the data/information until FY22.

* NTPC: India’s largest power producer NTPC on Tuesday said that the group, including joint ventures and arms, crossed 3GW of operational renewable energy capacity. The group achieved this milestone with the commissioning of the first part capacity of 100 MW out of the 300 MW Nokhra Solar PV Project at Bikaner, Rajasthan on 20 December. NTPC group crossed 2 GW on 24 June this year with the commissioning of its 92 MW floating solar project at Kayamkulam, Kerala.

* Mindspace Business Parks REIT: The company issued commercial papers worth Rs 100 crore to raise funds to be utilised towards working capital requirements its asset SPVs.

* Dabur India: The company said Gyan Enterprises, and Chowdry Associates, part of Barman family, have sold approximately 1% shares in Dabur through a block deal completed on December 20. The objective of this transaction is to raise funds for financing some ventures in private hands of the Burman family.

* Delhivery: The logistics firm said it is acquiring Algorhythm Tech, which provides supply chain solutions, for Rs 14.90 crore. The transaction is expected to be completed by January 31, 2023.

* Shyam Metalics and Energy: The company has acquired Mittal Corp to foray into the stainless steel or wire rod and bar mill business. This inorganic growth will witness establishment of manufacturing footprints in Madhya Pradesh and add capacities of 1.5 lakh tonne per annum stainless steel / wire rod and bar mill.

* Trucap Finance: MSME-focused shadow lender Trucap Finance has announced two deals -- buying out the retail MSME book of the Jalandhar-based EZ Capital in a share swap deal and a ?105 crore funding in a mix of equity and debt from the Mauritius-based fund Zeal Global. The Mumbai-based NBFC has a loan book of around ?500 crore spread across unsecured small-ticket MSME business loans ( ?270 crore) and ?230 crore of gold loans.

* Visaka Industries: Building material manufacturer Visaka Industries Ltd on Tuesday said its ?130-crore plant that is being built in West Bengal will be operational by August 2023. The project will raise the total capacity of environment-friendly boards and panels to 3.5 lakh tonnes, a company official said. This will be Visaka’s fifth cement fibre board plant in the country and the first such unit in the eastern state.

* GAIL India: The company has raised Rs 1,575 crore from the issuance of 15,750, 7.34% non-convertible debentures (Series-I) of Rs 10 lakh on private placement basis.

* Uno Minda : The company entered a technical license agreement with Korea’s Ascentec to strengthen its advance automotive sensors product portfolio.

GLOBAL MARKETS

Global Market Update

Wall Street closed slightly higher on Tuesday after four sessions of declines, but investors fretted about weak holiday shopping and rising bond yields added pressure after the Bank of Japan's (BoJ) surprise tweak of monetary policy. The Dow Jones Industrial Average rose 92.2 points, or 0.28 percent, to 32,849.74, the S&P 500 gained 3.96 points, or 0.10 percent, to 3,821.62 and the Nasdaq Composite added 1.08 points, or 0.01 percent, to 10,547.11.

Crude Oil

Oil prices ended mostly flat on Tuesday in a volatile session as a worsening outlook for a major US winter storm sparked fears that millions of Americans might curb travel plans during the holiday season. Brent crude futures settled up 19 cents, or 0.2 percent, to $79.99 per barrel while US West Texas Intermediate (WTI) crude futures settled flat at $75.19 per barrel.

SGX Nifty:

Trends in the SGX Nifty indicate a positive opening for the broader index in India with a gain of 66 points. The Nifty futures were trading around 18,492 levels on the Singaporean exchange.

Nifty Outlook:

Nifty opened gap down on Tuesday at 18340, made a high of 18405, made a low of 18203, and closed on a negative note at 18385 levels. For the day, support for the Nifty exists at 18200 and 18100 levels, whereas resistance for the Nifty stands at 18500 and 18600 levels.

Bank Nifty Outlook:

Bank Nifty opened gap down on Tuesday at 43153 made a high of 43426, made a low of 42955, and closed on a negative note at 43360 levels. For the day, support for Bank Nifty exists at 43200 and 42950 levels, whereas resistance for Bank Nifty stands at 43600 and 44000 levels.

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