Asian share markets rose today as investors looked to end the year on an optimistic note after US data showed the Federal Reserve's aggressive monetary policy was dampening inflationary pressures even as worries over Covid-19 cases in China persist.

The Nikkei rose by 0.4% while the Hang Seng was up by 0.8%. The Shanghai Composite is trading lower by 0.6%.

Wall Street's main indices closed higher on Thursday, led by growth stocks in light trading, as US unemployment data signaled the Federal Reserve's interest rate hikes might be starting to dent labor market strength in its bid to fight inflation.

The Dow Jones ended higher by 1.1% while the tech-heavy Nasdaq Composite ended higher by 2.6%

Here's a table showing the performance of US stocks yesterday:

Source: Equitymaster

Back home, Indian share markets are trading on a positive note following the trend on SGX Nifty.

At present, the BSE Sensex is trading higher by 87 points. Meanwhile, the NSE Nifty is trading higher by 33 points.

Bajaj twins, Tata Steel, and Titan are among the top gainers today. IndusInd Bank, HDFC Bank, and Asian Paints are among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap index is trading higher by 0.8% and the BSE Small Cap index is trading higher by 1.2%.

Sectoral indices are trading on a positive note with the exception of the banking sector. Stocks in the consumer durables sector, realty sector, and utilities sector witness buying.

Shares of Solar Industries and Jindal Steel and Power hit their 52-week high today.

The rupee is trading at 82.7 against the US dollar.

In the commodity markets, gold prices trade lower by Rs 50 at Rs 54,921 per 10 grams.

Meanwhile, silver prices are trading lower by 0.1% at Rs 69,684 per 1 kg.

Speaking of stock markets, pharma stocks are rising. Traders have jumped on the bandwagon, buying pharma stocks in the same way they were buying PSU bank stocks a few weeks ago.

But does this rally have legs? How high can pharma stocks rise?
 

Supreme Petrochem to trade ex-bonus soon

Supreme Petrochem is the largest producer and exporter of Polystyrene Polymer in India with a market share of 55%.

During the last year, Supreme Petrochem rose by 15.8%.

Earlier this month on 9 December 2022, the board decided to split the company's shares in a 1:2 ratio. This means that a fully paid-up equity share with a face value of Rs 4 will be split into fully paid-up equity shares of Rs 2 each.

The board has fixed 6 January 2023 as the record date to ascertain the eligibility of shareholders for sub-division/split.

Supreme Petrochem reported a 3.6% YoY jump in revenue to Rs 12.3 bn for the September 2022 quarter. The net profit for the same period came in 53.1% lower at Rs 596.5 m.

For more details, see the Supreme Petrochem company fact sheet and quarterly results.
 

Cipla to Invest in Ethris GmbH

Drugmaker Cipla's wholly-owned subsidiary Cipla (EU), UK, will acquire a 10.4% stake in Ethris GmbH, Germany for a total investment of about Rs 1,322.1 million (m).

Cipla's unit will acquire 9,939 common shares of Ethris.

Incorporated in Germany, Ethris is a pre-clinical stage firm working on a proprietary non-immunogenic mRNA platform. It is known for delivering mRNAs directly to the respiratory system, including administration by inhalation.

mRNA or Messenger RNA are molecules that carry the genetic information needed to make proteins. They carry the information from the DNA to the cytoplasm, where the proteins are made.

Through this investment, Cipla will facilitate a long-term strategic partnership with Ethris to develop mRNA-based therapies and also fast-track the company's foray into the space. The agreement will also pave the way for Cipla to market Ethris' innovative portfolio in Cipla's key emerging markets.

The transaction is expected to be completed within the next 60 days from the date of signing of the agreement or any other time period as agreed upon mutually, subject to the completion of regulatory formalities.

Following the news, Cipla's share price is rising today.

Cipla has a huge respiratory portfolio and this acquisition will just add to its strength. The company could be the biggest winner of Covid 2023.
 

Eicher Motors take a step forward in the EV segment

Indian automotive major Eicher Motors, the parent company of Royal Enfield, on Thursday, announced a strategic collaboration in the space of electric motorcycles with Spain-based Stark Future.

The board of directors of Eicher Motors has cleared an investment of Rs 4,414.4 m for a close to 10.4% equity stake in Stark Future.

With this investment, Eicher will have a seat on Stark Future's board and will explore further opportunities to collaborate in the space of electric vehicles (EV).

This investment has strategic significance for both Royal Enfield and Stark Future, given both companies are keenly invested in creating innovative and sustainable solutions for global mobility.

Stark Future recently launched its first high-performance electric motocross dirt bike, the Stark VARG, which received a good response globally.

BRoyal Enfield has made huge strides in its EV journey over the past few years. The company's research and development programs have included a major focus on sustainable mobility technologies. There are several ideas in the advanced stages of testing.

The company has been aggressively building a sharp and insightful understanding of the EV space to create electric motorcycles with the Royal Enfield DNA, especially in the mid-weight segment.
 

Craftsman Automation to acquire a stake in DR Axion India

Craftsman Automation has entered into a definitive agreement to acquire a 76% stake in DR Axion India for Rs 3.8 bn.

Upon completion of the transaction, DR Axion India will be a subsidiary of the company. The acquisition will help both entities leverage their strengths and build better synergies.

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