Nifty Analysis for tomorrow: December 2019

MG Motor India sells 3,021 units of Hector in December

"As a new entrant in the Indian market, the robust sales momentum of our first offering, the Hector, has been very encouraging. We are working closely with our global and local suppliers to increase the production of the Hector in 2020 to support the booking backlog," said Rakesh Sidana, director for sales, MG Motor India.

Maruti Suzuki December sales rises 3.9%, in line with expectations

Domestic sales during the month grew by 3.5 percent to 1.25 lakh units and exports increased 10.2 percent to 7,561 units compared to December 2018.

Karvy Group splits biz in two verticals; non-fin businesses to be housed in separate arm

It has also appointed Amitabh Chaturvedi, who used to head private sector lender Dhanlaxmi Bank, as the company#39;s group chief executive for financial services.

CAD narrows to 0.9% of GDP in July-Sept on lower trade deficit: RBI

In the first half of the current fiscal, the CAD narrowed to 1.5 percent of GDP from 2.6 percent in the same period in FY2018-19 on the back of a reduction in the trade deficit.

Investors richer by over Rs 11 lakh crore in 2019 market rally

As the Indian equities signed off 2019 on a remarkable note, the market capitalisation (m-cap) of BSE-listed companies rose by Rs 11,05,363.35 crore to Rs 1,55,53,829.04 crore.

Rupee ends 2019 with 2.28% annual loss at 71.36 against US dollar

Rupee had closed the 2018 year at 69.77 to the US dollar.

NBFCs hope to come out of deep, dark tunnel in 2020

To alleviate the stress in the sector, the government and RBI announced several measures such as allowing banks to provide partial credit enhancements to bonds issued by NBFCs, relaxing the minimum holding period to encourage loan securitisation.

Govt cuts expenditure limit for March quarter on revenue concerns

The government has asked all departments to restrict the expenses to 25 per cent of the Budget Estimate (BE) in January-March.

RBL Bank raises Rs 676 cr via preferential allotment of shares

The preferential allotment increases the bank#39;s total capital adequacy ratio to 16.31 per cent, core equity tier I ratio to 15.29 per cent, enhancing the bank#39;s capital adequacy.

Ban of upfront commission hits new IFA registrations, plummets 42% YoY

From April to November, the industry added 5,709 new individual ARNs as against an addition of 13,272 ARNs in the same period last year

Manappuram Finance raises Rs 350cr by issuing bonds

The Financial Recourse and Management Committee of the company#39;s board has approved allotment of 3,500 secured, rated, listed, redeemable non-convertible debentures of face value of Rs 10 lakh each, aggregating to Rs 350 crore, according to a BSE filing.

Indoco gets USFDA nod for Febuxostat tablets

"Indoco Remedies received final approval of its ANDA (Abbreviated New Drug Application) for Febuxostat tablets 40 mg and 80 mg, which is therapeutically equivalent to the Reference Listed Drug (RLD), viz, Uloric Tablets 40 mg and 80 mg of Takeda Pharmaceuticals USA, Inc," the company said in a filing to the BSE.

Hero MotoCorp launches HF Deluxe BS-VI, price starts at Rs 55,925

The HF Deluxe BS-VI will be available at Rs 55,925 for self-start alloy-wheel variant and Rs 57,250 for self-start alloy i3S variant (prices ex-showroom Delhi) from the beginning of January 2020, the company said in a statement.

Adani Electricity may raise $1.5 billion overseas in 2020: Report

As part of this fundraising round, the proposed loans will be offered globally, including in the US, with securities which may have a maturity period of 7 or 10 years.

Alkem Labs acquires anti-nausea drug Marinol from AbbVie for $10 million

Marionol capsules are used to treat the loss of appetite (anorexia) in AIDS patients and to treat nausea and vomiting in patients receiving chemotherapy.

Thermax bags Rs 431cr order for setting up two FGD systems in Jharkhand

In a flue gas desulphurisation system (FGD), sulphur compounds are removed from the exhaust emissions of fossil-fuelled power stations.

Axis Bank appoints Amit Talgeri as Chief Risk Officer

"Cyril Anand, the incumbent CRO will retire from the services of the bank, with effect from close of business hours of December 31, 2019," Axis Bank said in a statement.

EPFO to focus on subscribers#39; convenience, ease of doing biz through digital tools in 2020

Employees#39; Provident Fund Organisation (EPFO) is undertaking several digital initiatives including online Universal Account Number (UAN) generation facility for subscribers and e-inspection system for employers.

More cars get top safety ratings in India

While Nexon became the first Made-in-India car to be awarded five star ratings Kia followed next with the mid-size SUV Seltos

Huawei thanks Indian Govt for 5G trials permission, says committed to India

Telecom Minister Ravi Shankar Prasad on Monday said the government will allocate airwaves to all telecom service providers for conducting trials of super-fast speed 5G networks.

Rattanindia resolves debt with lenders through one-time settlement

A consortium of 12 lenders led by Power Finance Corp and State Bank of India assigned the existing principal debt of 65.74 billion rupees to a set of new investors and lenders, led by Goldman Sachs and Varde Partners for 40.50 billion rupees.

Automation, AI continue to offer rich promises to Indian cos

In a departure from the past, industry body Nasscom discontinued providing its annual growth forecast for the industry -- an important tool to gauge the sentiment of the sector.

CG Power board okays appointment of Pradeep Mathur as additional, non-executive independent director

The appointment of Mathur, for a period of five years, is subject to the approval of the members at the next annual general meeting of the company, CG Power and Industrial Solutions said in a filing to BSE.

Kalpataru Power Transmission bags orders worth Rs 979cr

"Kalpataru Power Transmission Ltd (KPTL)... has secured new orders/notification of award of approximately Rs 979 crore. The company#39;s international subsidiary secured new TD projects in Europe," it said in a filing to BSE.

NTPC#39;s 800 mw unit of Darlipali Super Thermal Power Project in Odisha gets operational

"... 800 MW unit of Darlipali Super Thermal Power Project has been added to installed capacity of NTPC on successful completion of trial operation," the company said.

FinMin, IRDAI seek insurance for bank deposits above Rs 1 lakh: Report

The finance ministry and IRDAIâ€™s requests comes in the aftermath of the Punjab and Maharashtra Cooperative (PMC) Bank scam

Without buyer, Air India might be forced to shut down in six months: Official

The airline has a debt burden of around Rs 60,000 crore and the government is still working on the modalities for the disinvestment.

Govt might breach fiscal deficit target in FY20; need for fiscal stimulus rises: Report

According to Dun Bradstreet#39;s Economy Forecast, the need for fiscal stimulus has increased even as the government finances remain "strained".

Rupee settles 4 paise higher at 71.31 against US dollar

At the interbank foreign exchange market, the rupee opened at 71.36 against the US dollar.

Chalet Hotels strengthens partnership with Marriott Intl with 5 new pacts

Under the pacts, the company would build hotels and extend contracts across brands such as #39;W#39;, #39;Westin#39; and #39;Marriott Executive Apartment#39; in Hyderabad and Mumbai.

World stocks hold onto gains, dollar under pressure

The pan-regional Euro Stoxx 600 was down 0.3 percent while Germany#39;s DAX slipped 0.5 percent.

Singtel, Grab join forces for Singapore digital bank licence

The companies said in a joint statement that they will form a partnership, with Grab owning 60 percent and Singtel holding the remainder to apply for a digital banking licence to serve retail and small and medium enterprises.

AstraZeneca, Merck score win with Lynparza approval for pancreatic cancer

The drug is now the only approved medicine in biomarker-selected patients with advanced pancreatic cancer.

Govt will give 5G spectrum for trials to all players: Ravi Shankar Prasad

Sources said all operators and vendors, including Huawei, will be included in trials.

245 Star Export Houses, 5,000 small exporters denied GST dues: Report

This comes at a time when the country#39;s exports have not performed all too well, with merchandise exports having contracted by 0.34 percent year-on-year in November.

BSNL clears Rs 1,700cr in dues to vendors; pays November salaries: CMD

"Payments worth Rs 1,700 crore have been released to our vendors and contractors of BSNL," he said.

Retail chain 1-India Family Mart looking to open 200 stores by 2022

Speaking about the overall slowdown, the company#39;s chief said: "The year 2019 has been a tough year in terms of the consumption but we are putting in best of the efforts in marketing, product profiling, technology and customer profiling to grab the best we can."