Rajasthan MoU Boosts KPI
- 20th December 2024
Aaj Ka Bazaar
Major U.S. stock indexes ended a volatile session little changed on Thursday, although the Dow snapped a 10-day losing streak. The S&P 500 and Nasdaq were slightly in the red by day’s end, extending Wednesday’s sharp selloff tied to a signal from the Federal Reserve that it may deliver fewer interest rate cuts in 2025 than it had earlier projected. Asian shares were pinned near three-month lows on Friday as investors awaited key U.S. inflation data that could either ease or worsen concerns about price pressures, while the dollar towered at two-year peaks. Japan’s Nikkei rose 0.2% on Friday and is up a whopping 16% for the year, in part due to the weakness in the yen, which has depreciated 12% in 2024 and drew intervention warnings again from Japanese authorities. Considering the global market cues, the Indian benchmarks will likely have a negative start, Indian shares are set for a muted open on Friday after the previous session’s declines on concerns over a slower pace of rate cuts by the U.S. Federal Reserve, while IT stocks are likely to find support after solid results by U.S. peer Accenture. On a stock-specific note, GE Vernova T&D will be in focus as the company has received an order worth Rs. 400 crores from Sterlite Grid 32 Ltd.
Markets Around Us
BSE Sensex -79,036.97 (-0.23%)
Nifty 50 – 23,909.95 (-0.17%)
Bank Nifty – 51,426.05 (-0.29%)
Dow Jones – 42,046.29 (-0.68%)
Nasdaq – 19,369.58 (-0.12%)
FTSE – 8,105.32 (-1.16%)
Nikkei 225 – 38,817.75 (0.03%)
Hang Seng – 19,775.30 (0.11%)
Sector: : Power Generation
KPI Green Rises on Rajasthan MoU
KPI Green Energy’s stock rose 3% in early trade on December 20 after signing an agreement with the Rajasthan government to develop solar and wind hybrid power projects in Jaisalmer. The state government will assist the company in obtaining necessary approvals. Additionally, the company announced January 3, 2025, as the record date for issuing bonus shares at a 1:2 ratio, pending shareholder approval. Earlier this month, KPI secured its largest-ever order worth ₹13.11 billion from Coal India to set up a 300 MW solar plant with maintenance services for five years. The stock, trading at ₹787, is 29% below its 52-week high of ₹1,116 but 89% above its 52-week low of ₹417. This reflects strong growth potential supported by recent developments and increasing demand for renewable energy solutions.
Why it Matters:
KPI Green’s MoU with Rajasthan boosts its renewable energy portfolio, aligning with India’s push for clean energy. The bonus share announcement adds shareholder value, attracting more investors. Its largest-ever solar project order reflects strong business growth and future potential.
NIFTY 50 GAINERS
TCS – 4337.55 (1.54%)
WIPRO – 315.15 (0.77%)
INFY – 1960.55 (0.74%)
NIFTY 50 LOSERS
AXISBANK – 1096.30 (-1.14%)
ITC – 461.85 (-1.01%)
LT – 3685.05 (-0.84%)
Sector: : Port Services
JSW Infra Targets 400 MTPA capacity
JSW Infrastructure, India’s second-largest private port operator, plans to invest ₹30,000 crore to increase its cargo-handling capacity to 400 MTPA by FY30. The company is working on expanding existing ports and developing new ones while enhancing its logistics network through acquisitions like Navkar Corporation. Currently, third-party cargo accounts for 48% of its total business, up from 5% in FY19, with a target of achieving a 50-50 mix between group and third-party clients in the long term. Debt-free and with a market cap of ₹66,000 crore, JSW Infra is focusing on a robust ports and logistics ecosystem aligned with India’s infrastructure goals. It has spent ₹400 crore on capex this year and recently secured contracts for new terminals, supporting its growth plans.
Why it Matters:
JSW Infrastructure’s ₹30,000 crore investment strengthens India’s port and logistics capacity, aligning with national infrastructure goals. The shift towards third-party cargo and acquisitions boosts diversification and long-term revenue potential. Its debt-free status and strong market cap highlight financial stability for sustained growth.
Around the World
Asian stocks mostly fell or stayed flat this Friday, ending a tough week due to concerns over slower U.S. interest rate cuts. Japanese stocks rose slightly despite strong inflation data hinting at possible future rate hikes, as the central bank signaled they may wait until later in 2025. Chinese markets were steadier, with small gains as expectations grew for more government spending next year to support the economy. However, China’s central bank kept rates steady due to limited room for further cuts and a weak yuan. Broader Asian markets, like Australia’s and South Korea’s, fell sharply amid hawkish U.S. Federal Reserve signals and weaker risk appetite, with South Korea’s market hit hardest by political and tech sector challenges. Indian stock futures pointed to more losses after a difficult week. The overall sentiment across Asia reflected caution due to global economic uncertainties.
Option Traders Corner
Max Pain
Nifty 50 – 24,000
Bank Nifty – 52,500
Nifty 50 – 23,942 (Pivot)
Support – 23,879, 23,807, 23,745
Resistance – 24,014, 24,076, 24,148
Bank Nifty – 51,543 (Pivot)
Support – 51,296, 51,017, 50,770
Resistance – 51,822, 52,069, 52,348
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