Daily Stock Tips & Market Updates

Key equity benchmarks closed at record high levels for second session in a row on Wednesday.  Most Tata Group stocks declined after NCLAT restored Cyrus Mistry as executive chairman of Tata Group. The International Monetary Fund (IMF) will significantly lower India’s growth forecast from the earlier number of 6.1% for FY20 on 20 January 2020, given the fall in consumption, lack of private investments and sluggish exports.

Global Markets

McDonald’s has shut all its restaurants in Peru for two days of mourning after two of its employees died.The two teenaged employees were electrocuted while cleaning the kitchen of a McDonalds in Pueblo Libre.World stocks hovered just off record highs on Wednesday after climbing for five straight sessions, while Britain’s pound nursed heavy losses in the wake of renewed Brexit uncertainty.

Stock Snippets

Shares of state-owned mineral producer NMDC gained more than 2 percent intraday on December 18 after the company received an extension of mining leases for 20 years.

Tata Consultancy Services bags contract from pet specialty retailer in US, share price gains 2%

Indian IT major Infosys has agreed to pay $800,000 (nearly Rs 5.6 crore) to settle allegations of misclassification of foreign workers and tax fraud, officials said on Tuesday.

Castrol India has entered into a strategic partnership with Renault India Private Limited.

Shares of PC Jeweller slumped over 4% after media reports said that Sebi has imposed a total fine of over Rs8cr on Shivani Gupta, Sachin Gupta, Amit Garg and Quick Developers Pvt. Limited for violating insider trading rules in PC Jeweller case.

Zee Entertainment was down after credit rating agency, Brickwork Ratings India, downgraded the company’s cumulative redeemable non-convertible preference shares & the issuer rating.

Global Markets

Japan stocks were lower after the close on Wednesday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares lower. The Nikkei 225 declined 0.55%.

Australia stocks were higher after the close on Wednesday, as gains in the Utilities, Healthcare and Energy sectors led shares higher. The S&P/ASX 200 gained 0.06%.

China’s Shanghai Composite slipped 0.1%, while the Shenzhen Component inched up 0.1%.

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