All You Need To Know Going Into Trade On August 20
Asian stocks wavered early Friday as the delta virus strain and the prospect of reduced central bank stimulus weigh on the economic outlook, hurting commodities and bolstering the dollar.
Equities were little changed in Japan and edged up in Australia and South Korea. The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, climbed 0.2% to 16,372 as of 7:15 a.m.
U.S. contracts fluctuated after modest overnight S&P 500 and Nasdaq 100 gains in a choppy session. Treasuries held a climb and the dollar was around a nine-month high. Commodities have slumped, flashing a warning about the impact of Covid-19’s resurgence on the global recovery.
Chinese stocks listed in the U.S. tumbled further -- including declines of more than 6% in Tencent Holdings Ltd. and Alibaba Group Holding Ltd. -- as Beijing deepens a regulatory crackdown on private industry.
The delta strain is stoking doubts about achieving herd immunity to underpin economic reopening, just as Chinese activity slows and the Federal Reserve eyes a gradual reduction of emergency stimulus. That mix puts global stocks and commodities on course for one of their worst weeks this year. Analysts cautioned that options expirations due Friday may be fueling volatility.
Stocks To Watch
Reliance Industries: The company has shutdown its manufacturing units at Nagothane in Maharashtra. The product supplies to customers will however continue through available stocks and diverting from other manufacturing sites, the company said. The units are expected to resume normal operations from August 25.
Zomato: Completed the acquisition of 9.16% of shareholding on a fully diluted basis in Grofers India for Rs 518 crore and 8.94% of shareholding on fully diluted basis in Hands on Trades for Rs 222 crore.
Advanced Enzyme Technologies: Completed the acquisition of additional stake of 15% in its subsidiary, JC Biotech. The company bought of 31.06 lakh equity shares of JCB for Rs 21.12 crore. Consequently, the company’s stake in JCB has increased to 85% from 70%.
Ujjivan Small Finance Bank: Nitin Chugh has resigned as Managing Director and CEO of the bank. Chugh's resignation to be effective from September 30.
NLC India: Raised Rs 750 crore through allotment of 15,000 Commercial Papers of face value of Rs 5 lakh each.
Indostar Capital Finance: Promoter Indostar Capital to sell 61.89 lakh equity shares, representing 4.56% of the total equity share capital on a fully diluted basis, through an Offer for Sale. The promoter will also have a greenshoe option to sell an additional 61.89 lakh equity shares. The floor price of Rs 290 per share is a 14.34% discount to Wednesday's closing price. The OFS opens for non-retail investors today and for retail investors on August 23.
CG Power and Industrial Solutions: Approved the proposal for voluntary winding up of CG Middle East FZE, a non-operating step-down subsidiary and CG International (Holdings) Singapore Pte., a wholly owned subsidiary of the company, subject to receipt of statutory and regulatory approvals. The company also approved closure of CG Power Solutions, its non-operating subsidiary, under the provisions of the Insolvency and Bankruptcy Code, 2016.
CarTrade Tech shares to start trading today.
Emcure Pharmaceuticals Ltd. filed its draft red herring prospectus with the SEBI on August 19. The company is looking to raise Rs 1,100 crore through a fresh issue of equity shares and also conduct an offer for sale of 1.82 crore shares owned by promoters, promoter group and other investors. The selling shareholders may also undertake a pre-IPO placement worth Rs 200 crore before filing the red herring prospectus, the DRHP said.
Tega Industries seeks Sebi nod for IPO consisting of sale of as many as 13.67 million shares by its shareholders.
RateGain Travel Tech files for IPO; seeks Rs 400 crore via new shares
Pledge Share Details
Jindal Steel & Power: Promoter Siddeshwari Tradex created a pledge of 16 lakh shares on August 13.
As reported on August 18.
AAVAS Financiers: Promoter Lake District Holdings sold 49.54 lakh shares (6.31%) at Rs 2,452.87 per share. Monetary Authority of Singapore bought 5.66 lakh shares (0.72%) at Rs 2,449.92 per share. Government of Singapore bought 26.28 lakh shares (3.35%) at Rs 2,449.92 per share.
Coffee Day Enterprise: KKR Mauritius Pe Investments II sold 19.03 lakh shares (0.90%) at Rs 29.45 per share.
Clean Science and Technology: Plutus Wealth Management LLP bought 5.75 lakh shares (0.54%) at Rs 1,518.42 per share.
Karda Constructions: Elara India Opportunities Fund bought 6.50 lakh shares (1.06%) at Rs 22.60 per share.
Suryoday Small Finance Bank: Kuber India Fund bought 20 lakh shares (1.88%) at Rs 166.74 per share. TVS Shriram Growth Fund sold 20.50 lakh shares (1.93%) at Rs 166.92 per share.
Adani Green Energy: Promoter Infinite Trade and Investments bought 16.75 lakh shares on August 17.
KEI Industries: Promoter Anil Gupta sold 1.44 lakh shares between August 16-17.
Mastek: Promoter Ashank Desai bought 8,300 shares on August 13.
NCL Industries: Promoter PS Raju sold 2,197 shares on August 18.
SVP Global Ventures: Promoters (Moumita Gattani and Shubhankar Gattani) sold 49,026 shares between August 11-16.
Who’s Meeting Whom
Bharat Forge: To meet DSP MF on August 20 and Alchemy Capital on August 27.
Cipla: To meet GIC and Investec Capital Services (India) on August 20.
Titan Company: To meet Franklin Templeton Investments on August 20.
Ex-Date AGM: Sterlite Technologies, Aurobindo Pharma, Lumax Industries, Dhampur Sugar Mills, Lumax Auto Technologies
Ex-Date Interim Dividend: Dolat Investments, GMM Pfaudler, Manappuram Finance
Ex-Date Final Dividend: EKI Energy Services, Lumax Industries, Lumax Auto Technologies, Sterlite Technologies, Vakrangee
Ex-Date Special Dividend: GOCL Corporation
Record Date Interim Dividend: Astrazeneca Pharma India, Hinduja Global Solutions
Record Date Final Dividend: Can Fin Homes, CCL Products (India), Indian Energy Exchange, Nava Bharat Ventures
Record Date Dividend: Karnataka Bank, Reliance Industrial Infrastructure, Zen Technologies, Solara Active Pharma Sciences
Record Date Bonus Issue: Brightcom Group, Redington (India)
Price Band Revised From 10% To 5%: Coffee Day Enterprises
Price Band Revised From 20% To 10%: Fiem Industries
Move Out Of Short-Term ASM Framework: Venus Remedies, Future Consumer, Indo Count Industries
Money Market Update
The rupee ended at 74.24 against the U.S. Dollar on Wednesday as compared to Tuesday's closing of 74.34.
Nifty August futures ended at 16,559.80, a discount of 9.05 points
Nifty August futures shed 4.55%, and 12,003 shares in Open Interest
Nifty Bank August futures ended at 35,502.00, a discount of 52.5 points
Nifty Bank August futures added 2.32%, and 1,807 shares in Open Interest
Securities that continue to be on the ban list: Cadila Healthcare, Canara Bank, Nalco, Punjab National Bank, SAIL, Sun TV, Vedanta