Santa Claus Rally This Week?

• Indian stock markets declined on Friday, led by losses in financial and IT stocks, as cautious sentiment prevailed following the U.S. Federal Reserve's rate cut outlook. The Sensex dropped 1.49%, while the Nifty fell 1.52%.

• Weakness in the rupee and foreign fund outflows further weighed on the markets. Global markets also traded lower, with investors awaiting U.S. inflation data.

MTAR Technologies +5.69%

• Shares surged 6%, driven by the company’s ₹226 crore order wins in clean energy and aerospace. Of this, ₹191 crore was secured from Bloom Energy for various clean energy products, while ₹35 crore came from aerospace orders from reputed clients such as Rafael, IMI Systems, and IAI.

RBL Bank (7.20%)

• Shares extended losses for a fifth consecutive session, dropping over 10% during the period. In today's session, the stock declined more than 7%. Morgan Stanley reportedly cut RBL Bank's share price target to ₹160 from ₹180, citing higher credit costs and weak margins, further dampening sentiment.

• CII urges reforms in India's priority sector lending framework. (ET)

• Companies are increasingly turning to expensive dollar loans, with NBFCs leading the trend. (ET)

• Central bank minutes reveal that high prices are hindering India's growth. (RT)

• Gravita India completes a ₹1,000 crore ($117Mn) QIP. (BS)

• GSP Crop Science files IPO papers with a fresh issue of ₹280 crore ($33Mn). (MC)

• Unimech Aerospace raises over ₹149 crore ($17.5Mn) through its anchor book. (MC)

• International Gemmological Institute shares list 22% higher than the IPO price. (MC)

• DAM Capital IPO is 7x subscribed on Day 2, driven by retail and NIIs. (MC)

• Concord Enviro Systems IPO retail portion is 2x subscribed on Day 2. (MC)

• Transrail Lighting IPO is 5.31x subscribed on Day 2, led by NIIs and retail bidders. (Mint)

• Sanathan Textiles IPO is 1.43x subscribed on Day 2. (BS)

• Mamata Machinery IPO is 37.34x subscribed on Day 2. (Mint)

• Ventive Hospitality IPO is 71% subscribed on Day 1, led by QIBs. (MC)

• Carraro India IPO is 9% subscribed on Day 1. (ET)

• Senores Pharma IPO is 1.8x subscribed on Day 1. (ET)

This week’s mainboard IPO schedule

• DAM Capital Advisors

  • Offering Period: 19 December - 23 December, 2024

  • Listing Date: 27 December, 2024

  • Issue Price: 269-283

  • Lot Size: 53

• Concord Enviro Systems

  • Offering Period: 19 December - 23 December, 2024

  • Listing Date: 27 December, 2024

  • Issue Price: 665-701

  • Lot Size: 21

• Transrail Lighting

  • Offering Period: 19 December - 23 December, 2024

  • Listing Date: 27 December, 2024

  • Issue Price: 410-432

  • Lot Size: 34

• Sanathan Textiles

  • Offering Period: 19 December - 23 December, 2024

  • Listing Date: 27 December, 2024

  • Issue Price: 305-321

  • Lot Size: 46

• Mamata Machinery

  • Offering Period: 19 December - 23 December, 2024

  • Listing Date: 27 December, 2024

  • Issue Price: 240-243

  • Lot Size: 61

• Ventive Hospitality

  • Offering Period: 20 December - 24 December, 2024

  • Listing Date: 30 December, 2024

  • Issue Price: 610-643

  • Lot Size: 23

• Carraro India

  • Offering Period: 20 December - 24 December, 2024

  • Listing Date: 30 December, 2024

  • Issue Price: 668-704

  • Lot Size: 21

• Senores Pharmaceturical

  • Offering Period: 20 December - 24 December, 2024

  • Listing Date: 30 December, 2024

  • Issue Price: 372-391

  • Lot Size: 38

• Unimech Aerospace

  • Offering Period: 23 December - 26 December, 2024

  • Listing Date: 31 December, 2024

  • Issue Price: 745-795

  • Lot Size: 19

M&A / Investments

• The government will inject ₹500 crore ($58.8Mn) into IFCI to enhance its financial health. (BS)

• Freshworks founder Girish Mathrubootham has sold shares worth ₹331 crore ($39Mn). (YS)

• Goldman Sachs, Citigroup Global, and others buy Amber Enterprises shares for ₹210 crore ($24.7Mn). (ET)

• TeamLease acquires stakes in TSR Darashaw and Crystal for ₹42 crore ($5Mn). (ET)

• Info Edge's arm will acquire an additional stake in Brainsight for ₹3 crore ($353k). (Inc42)

Debt

• Piramal Enterprises to raise ₹2,000 crore ($235Mn) via NCDs. (ET)

• IFC invests ₹636 crore ($75Mn) in NDR InvIT’s sustainability-linked bonds. (ET)

VC