Anthony Waste Handling Cell IPO, Developments in the Defence Sector, and Buzzing Stocks Today

Fri, 1 Jan Pre-Open

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Indian share markets ended on a flat note yesterday.

Benchmark indices scaled fresh lifetime highs earlier in the day before turning volatile ahead of the expiry of December series derivative contracts.

At the closing bell yesterday, the BSE Sensex stood higher by 5 points.

Meanwhile, the NSE Nifty ended up by 1 point.

HDFC was among the top gainers. TCS, on the other hand, was among the top losers.

The BSE Mid Cap index ended up by 0.2%. The BSE Small Cap index ended higher by 0.4%.

Sectoral indices ended on a mixed note with stocks in the realty sector and consumer durable sector buying interest.

FMCG stocks and telecom stocks, on the other hand, witnessed selling pressure.

Both benchmarks, Sensex and Nifty logged their highest annual gains since 2017 and ended with double digit gains for second straight year. The BSE Sensex and NSE Nifty surged 16% and 15%, respectively, in 2020.

News on vaccine development and measures from global central banks to cushion the economic fallout from the crisis have helped the indexes log annual gains.

Gold prices for the latest contract on MCX were trading up by 0.1% at Rs 50,190 per 10 grams at the time of closing stock market hours yesterday.

To know more about gold, you can check out our detailed article on investing in gold here: How to Invest in Gold?

Top Stocks in Focus Today

Among the buzzing stocks today will be Tejas Networks.

Tejas Networks has received a purchase order of US$ 13 million from a leading telecommunications service provider in South East Asia.

As per the contract, Tejas will supply and install its award-winning TJ1400 ultra-converged broadband products (TJ1400UCB) to extend high-speed broadband services to underserved rural communities in the region.

Stocks from the will also be in focus today. Most auto stocks continued their upward trend yesterday ahead of December 2020 sales data which will be announced in the first week of January 2021.

As per a leading financial daily, a low base because of last year's de-stocking is likely to aid the December wholesale numbers. The report added that almost all segments are likely to show a decent YoY growth in sales. But given that it's a slow season for commercial vehicles, dispatches in this segment could still be soft. Three-wheeler sales are likely to remain sluggish, still the low base of last year should support growth.

India's largest carmaker, Maruti Suzuki's domestic wholesale numbers are expected to show a growth of about 5-7%.

Commercial vehicles are likely to remain slow. Ashok Leyland is expected to report a flat growth over last year.

Auto stocks were also in focus after it was reported that American clean-energy and electric-vehicle (EV) company Tesla will begin its operations in India in 2021.

Speaking of auto sector and EVs, as per Tanushree, electric vehicles are very much on their way to invading Indian roads. The threat of disruption in this era is something you cannot ignore.

Tanushree believes one of the companies manufacturing lithium ion batteries for powering electric cars will be a key catalyst for the Rebirth of India.

Market participants will also track Yes Bank share price as the lender said it has appointed Niranjan Banodkar as its group Chief Financial Officer (CFO) with effect from January 1, 2021.

Mr. Banodkar will replace Anurag Adlakha who has now been appointed Chief Human Resources Officer (CHRO), the bank said in a notification to exchanges.

Mr. Banodkar has 17 years of diverse experience in Banking in Risk Management, Capital Markets, Financial Planning and Strategy.

Anthony Waste Handling Cell IPO: Shares Trade at Over 30% Premium in Grey Market

In latest developments from the IPO space, Antony Waste Handling Cell shares traded at more than 30% premium in the grey market ahead of its listing scheduled on January 1.

The trading premium in the grey market on December 30 was Rs 100-120 per share over its issue price of Rs 315, the grey market data showed.

Antony Waste Handling Cell, one of the top five players in the Indian municipal solid waste (MSW) management industry, will debut on bourses tomorrow after its IPO received 15 times subscription during December 21-23.

The Rs 3-billion IPO comprised of a fresh issue of Rs 850 million and an offer for sale of Rs 2.2 billion by existing shareholders Leeds (Mauritius), Tonbridge (Mauritius), Cambridge (Mauritius) and Guildford (Mauritius).

How shares of the company perform today remains to be seen. Meanwhile, we will keep you updated on all the developments from this space.

Defence Manufacturing: Government Approves Export of Akash Missile System

Moving on to news from the defence sector, market participants are tracking defence stocks today.

In a major move to boost domestic defence manufacturing, the government approved the export of indigenously-developed surface-to-air Akash missile system and set up a panel to ensure faster approvals for acquisition proposals by various countries.

The Akash missile systems have over 96% indigenous components and the weapon can hit targets at a range of 25 km.

Defence Minister Rajnath Singh said the export version of Akash missiles would be different from the system currently deployed with Indian armed forces.

The decision to export the missile systems was taken at a Cabinet meeting presided by Prime Minister Narendra Modi.

"The export of big platforms was minimal. This decision by the Cabinet would help the country improve its defence products and make them globally competitive," the defence minister said.

Singh said the government intends to focus on exporting high-value defence platforms with an aim to achieve a target of US$ 5 billion in defence exports and improve strategic relations with friendly foreign countries.

Note that the government has been majorly focusing on boosting domestic defence production and set a target of Rs 1.75 lakh crore turnover in defence manufacturing by 2025.

In May, Finance Minister Nirmala Sitharaman rolled out a number of reform measures for the defence sector including making separate budgetary outlay to procure Indian-made military hardware, increasing FDI limit from 49% to 74% under the automatic route and generating a year-wise negative list of weapons which won't be imported.

We will keep you updated on the latest developments from this space. Stay tuned.

Speaking of the defence sector, co-head of Research at Equitymaster, Tanushree Banerjee keeps a close watch on stocks from the defence space. And as per her, defence will be a big wealth-creating opportunity ahead.

Back in June, she recorded a video about India's best defence stocks.

Tune in to the video below to know more:

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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