All You Need To Know Going Into Trade On August 17
Asian stocks were mixed early Tuesday as traders weighed a record-breaking run in the S&P 500 against concerns that the delta virus variant will choke global growth.
Shares rose in Japan but slipped in Australia and South Korea, while U.S. equity futures edged down. The S&P 500 closed at another all-time high overnight -- doubling from its pandemic low in March 2020 -- with health-care and utility companies advancing.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, was little changed at 16,549 as of 7:10 a.m.
Mobility curbs to fight the delta strain, signs of a slowing recovery from the pandemic in China and Beijing’s regulatory crackdown on private enterprise continue to colour the market mood in Asia. In the U.S., Securities and Exchange Commission Chair Gary Gensler issued his most direct warning yet about the risks of investing in Chinese companies.
Treasury yields held a decline. Traders are awaiting an address by Federal Reserve Chair Jerome Powell on Tuesday and the Jackson Hole symposium in late August for clues on when and how the central bank might taper stimulus.
Elsewhere, oil pared a drop and gold maintained a recent advance. Bitcoin traded around $45,500.
Stocks To Watch
Reliance, Future Retail: Delhi High Court to hear Amazon’s petition to enforce halt on Future-Reliance deal.
Suven Life Sciences: To conduct phase 3 clinical trial of SUVN-502 (Masupirdine), a 5-HT6 antagonist for treatment of agitation and aggression in Alzheimer’s type dementias. The study comprising about 387 patients is likely to be completed in about 36 months and the topline result is expected by the end of 2024.
Lupin: Received tentative approval from U.S. FDA for Brivaracetam Tablets. This product will be manufactured at company’s Nagpur facility. Brivaracetam Tablets are used for the treatment of partial-onset seizures in patients four years of age and older.
Infosys: The company has agreed to invest an additional sum $0.45 million in TidalScale Inc. Earlier, the company had invested $1.5 million in 2016 and $1.5 million in 2018. Further, it bought back shares worth Rs 3.77 crore on August 16.
Adani Road Transport, a wholly owned subsidiary of Adani Enterprises, to acquire Maharashtra Border Check Post Network portfolio from Sadbhav Infrastructure Project at an enterprise value of Rs 1,680 crore. ARTL will acquire 49% at first, with option to acquire additional stake, subject to approvals.
3i Infotech: Mrinal Ghosh has resigned as Chief Financial Officer. He will be relieved from the duties effective September 14.
Fiem Industries: To supply head lamps, tail lamps, indicators, rear fender assembly and mirrors to Ola Electric Mobility for its Scooter S1 and S1 Pro.
Mahindra, Steel Authority of India, Bayer CropScience: India government gives drone use permission to 10 organisations.
CMS Info Systems seeks Sebi approval for up to Rs 2,000 crore IPO
Latent View seeks to raise Rs 474 crore via new shares in IPO
Pledge Share Details
Aurobindo Pharma: Promoter RPR Sons Advisors revoked pledge of 26.30 lakh shares on August 11. Promoter group (Axis Clinicals, Trident Chemphar, and RPR Sons Advisors) created a pledge of 26.30 lakh shares on August 11.
Apollo Tyres: Promoter Sunrays Properties and Investments Company revoked pledge of 1.21 lakh shares on August 11.
Chambal Fertilisers & Chemicals: Promoter Zuari Global revoked pledge of 4 lakh shares on August 11.
Wockhardt: Promoter Themisto Trustee Company created a pledge of 10 lakh shares on August 11.
As reported on August 16.
The Investment Trust of India: Promoter Vijay Parekh sold 2.64 lakh shares (0.51%) at Rs 135 per share. Promoter Paresh Parekh sold 6.20 lakh shares (1.20%) at Rs 135 per share.
Exxaro Tiles: Plutus Wealth Management LLP sold 2.57 lakh shares at Rs 127.67 per share. Morgan Stanley Asia Singapore PTE sold 2.54 lakh shares at Rs 127.07 per share.
KNR Constructions: Kamidi Yashoda sold 20 lakh shares (0.71%) at Rs 286.76 per share.
Windlas Biotech: ICICI sold 1.22 lakh shares at Rs 417.62 per share.
Adani Green Energy: Promoter Infinite Trade and Investments bought 19 lakh shares on August 13.
KEI Industries: Promoter Anil Gupta sold 3 lakh shares on August 12.
KNR Constructions: Promoters (Kamidi Reddy and Kamidi Yashoda) sold 25 lakh shares on August 16.
Lincoln Pharmaceuticals: Promoters (Munjal Patel and Ashish Patel) bought 50,000 shares on August 13.
Panama Petrochem: Promoter Panama Builders Developers bought 30,948 shares between August 12-13.
Sudarshan Chemical Industries: Promoter Rahul Rathi sold 7.50 lakh shares on August 13.
Who’s Meeting Whom
Cipla: To meet Jefferies India on August 17.
Gland Pharma: To meet Franklin Templeton Investments on August 17 and William Blair Investment Management on August 18.
Greaves Cotton: To meet Union MF on August 17.
Supreme Industries: To meet Nippon Life Asset Management on August 17.
Ex-Date AGM: V-Mart Retail, GTPL Hathway, Shipping Corporation of India, Thangamayil Jewellery, Privi Speciality Chemicals, MAS Financial Services, Relaxo Footwears, KPIT Technologies, Borosil, Centrum Capital, Everest Industries, Astra Microwave Products, Expleo Solutions, Fairchem Organics, AVT Natural Products, Deepak Fertilizers and Petrochemicals Corporation
Ex-Date Final Dividend: Anuh Pharma, Astra Microwave Products, AVT Natural Products, Divi's Laboratories, Everest Industries, Indusind Bank, KPIT Technologies, Wardwizard Innovations & Mobility, MAS Financial Services, Novartis India, Privi Speciality Chemicals, Relaxo Footwears, Thangamayil Jewellery
Ex-Date Dividend: Borosil, Deepak Fertilisers & Petrochemicals Corporation, Fairchem Organics, GTPL Hathway, National Peroxide, Rajapalayam Mills, Shipping Corporation of India, WPIL
Ex-Date Income Distribution: Brookfield India Real Estate Trust REIT, Mindspace Business Parks REIT
Ex-Date Stock Split: Sagar Cements
Record Date Final Dividend: Suven Pharmaceuticals
Record Date Dividend: RPG Life Sciences
Record Date Interim Dividend: REC, Pitti Engineering
Price Band Revised From 20% To 10%: Laxmi Organic Industries
Nifty August futures ended at 16,551.05, a discount of 12 points
Nifty August futures shed 1.32%, and 3,597 shares in Open Interest
Nifty Bank August futures ended at 36,109.35, a premium of 14.85 points
Nifty Bank August futures added 4.67%, and 3,589 shares in Open Interest
Securities that continue to be on the ban list: Cadila Healthcare, Indiabulls Housing Finance, Nalco, Punjab National Bank, RBL Bank, SAIL, Sun TV
Securities removed from the ban list: Canara Bank