Stocks in Asia followed their U.S. peers higher amid signs a rally that took global equities to a record high is broadening into other sectors and away from technology. Treasuries edged up. Japan’s Topix index opened about 1% higher, while South Korea and Australia also rose.
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Here are the stocks to watch in trade today:
- IndusInd Bank to allot 4.76 crore shares at Rs 524 per share aggregating to Rs 2,495.8 crore via share allotment of equity shares on a preferential basis to qualified institutional buyers. Key investors in this issue are Route One Fund, ICICI Prudential Life Insurance, Tata Investment Corporation and AIA. Allotment price is at a discount of 18% to the closing prices as on Sept.2.
- Fitch Ratings has placed Future Retail’s default rating of 'C' and the rating on its $500 million 5.6% senior secured notes due in 2025 of 'C' with a recovery rating of 'RR4' on rating watch positive on sale of its business to Reliance Industries.
- Edelweiss Financial Services: Ontario Teachers’ Pension Plan Board has signed an agreement for an investment of Rs 2,600 crore with Edelweiss Alternate Asset Advisors , the largest private debt manager in India .The agreement represents a long‐term partnership between Ontario Teachers’ and Edelweiss Group that will focus on performing and distressed private credit investment opportunities in the Indian market.
- Engineers India has received project contract from GAIL for setting up PDH/PP plant and pipeline at Uran for Rs 448 crore.
- SH Kelkar: Kedar Vaze has been re-appointed as Group CFO till Aug.2025.
- Sterlite Tech: Anupam Jindal has resigned from the post of CFO with effect from Sept.11.
- SEBI has given open offer exemption in Bharat Forge and Kalyani Forge deal.
- VIP Industries sold its land and building of its Haridwar Factory for Rs 25-30 crore to Fresh Pet on ‘as-is-where is’ basis. The operations at the said Haridwar factory has been suspended since March, 2020 due to Covid-19.
- India Ratings and Research has upgraded JK Paper’s long term issuer rating to IND AA- from IND A+, with outlook remaining stable.
- Kalpataru Power Transmission has incorporated a wholly owned arm in Senegal to foray into transmission and distribution and railways business.
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Nifty Earnings
Coal India Q1 (Consolidated, YoY)
- Revenue down 25.9% at Rs 18,486.8 crore (Est Rs 18,593.6 crore)
- Net profit down 55.1% at Rs 2,079.6 crore (Est Rs 1,947.9 crore)
- Ebidta down 53.8% at Rs 3,051.8 crore (Est Rs 2,540.8 crore)
- Margins at 16.5% versus 26.5% (Est 12.9%)
- Volume impacted due less demand from power sector due to closure of industries due to Covid-19.
- Offtake at 120.42MT versus 153.49MT
- Lower taxes, lower other expenses and aided the profitability of the company
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Other Earnings
Dish TV Q1 (Consolidated, YoY)
- Revenue down 9.79% at Rs 835.6 crore
- Net profit at Rs 75.9 crore versus Net loss at Rs 32 crore
- Ebidta up 2.87% at Rs 551.4 crore
- Margins at 66% versus 57.9%
- Margins improve due to lower operating costs and other expenses
Earnings Today
- Jubilant Industries
- MSTC
- Page Industries
- Panacea Biotec
- Zuari Agro Chemicals
Pledged Share Details
- Max India promoter Max Ventures Investment Holdings released pledge of 91.25 lakh shares on Aug.31
- JSW Energy promoters revoked 68.6 lakh shares from Aug.28-31
- Shilpa Medicare promoter Omprakash Inani released pledge of 5.5 lakh shares on Sept.1
- JSW Steel promoters revoked pledge of 25.8 lakh shares from Aug.28-31
- Asahi India Glass promoter Brij Mohan Labroo created pledge of 40 lakh shares on Aug.27
- Jamna Auto promoter created pledge of 2.5 lakh shares on Aug.31
- Emami promoters released pledge of 67 lakh shares Aug.2-Sept.1
- Parag Milk Foods promoters revoked pledge of 20 lakh shares on Sept.1
(As Reported On Sept.2)
Who’s Meeting Whom
- CG Consumer Electricals to meet Aditya Birla SunLife MF, Antique Stock Broking and other investors from Sept.3-21
- Eicher Motors to meet JP Morgan AMC, Aditya Birla Money and other investors from Sept.3-8
- Tata Power to meet First State Investments, JP Morgan AMC and other investors from Sept.3-4
Bulk Deals
- Rossari Biotech: Plutus Wealth Management acquired 3 lakh shares (0.58%) at Rs 773.82 per share.
Trading Tweaks
- AGM Date: Munjal Auto Industries, JK Paper, HEG, Hindalco, Dhanuka Agritech, Indiabulls Housing Finance, Garden Reach Shipbuilders & Engineers, IIFL Wealth Management, Dabur, Hindustan Zinc.
- Fund Raising: Credit Access Grameen, 5Paisa Capital.
- Price Band Revision From 10% To 5%: Adani Green Energy.
- Move Into ASM Framework: OCL Iron and Steel, S.E. Power, SEL Manufacturing.
- Move Out Of Short Term ASM Framework: Anant Raj, Sundaram Finance Holdings, Remsons Industries, Premier Polyfilm, Oswal Chemicals & Fertilizers, Acrysil, Indo Amines.
Insider Trades
- GOCL Corporation promoter Hinduja Capital sold 4 lakh shares on Aug.31
- Sequent Scientific promoters sold 3.14 lakh shares from Aug.24-31
- Jamna Auto promoter Map Auto acquired 2.25 lakh shares on Aug.31
- Aavas Financiers promoter Partners Group sold 25.6 lakh shares on Aug.31
(As Reported On Sept.2)
F&O Cues
- Nifty September futures closed at 11,565; premium of 30 points versus premium of 58 points
- Nifty September futures Open Interest up 4%, adds 4.4 lakh shares in Open Interest
- Nifty Bank September futures closed at 23921; premium of 46 points versus premium of 133 points
- Nifty Bank September futures Open Interest down 4%, sheds 55,000 shares in Open Interest
Options
- Nifty PCR at 1.3
Nifty Monthly Expiry: Sept 3
- Max Open Interest on call side at 11,700 (27.4 lakh shares)
- Max Open Interest on put side at 11,400 (27.5 lakh shares)
- Active options: 11,500 Put (7.8 lakh shares), 11,500 Call (-8.2 lakh shares)
Nifty Monthly Expiry: Sept 24
- Max Open Interest on call side at 12,000 (20.3 lakh shares)
- Max Open Interest on put side at 11,000 (27.5 lakh shares)
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