All You Need To Know Going Into Trade On August 24
Asian stocks opened firmer Tuesday after a boost to the U.S. vaccination drive allayed some concerns over the delta strain’s impact, lifting U.S. shares. The dollar held a drop and oil steadied after surging.
Equities climbed in Japan, South Korea and Australia. The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, climbed 0.5% to 16,577 as of 7:15 a.m.
U.S. futures nudged higher after Wall Street extended a rebound on full approval for the Pfizer Inc.-BioNTech SE shot, which raises the prospect of more vaccine mandates to underpin economic reopening. The Nasdaq 100 reached a record.
Commodities held a surge -- including oil’s biggest jump in nine months overnight in New York -- in a return of the reflation trade linked to the recovery from the pandemic. Treasuries were steady ahead of the Jackson Hole symposium.
In China, the central bank in a statement called for more credit support for the real economy, especially smaller companies. Separately, the U.S. Securities and Exchange Commission has begun issuing new disclosure requirements to Chinese companies seeking to go public in New York, according to a report.
Elsewhere, gold was around the highest in more than two weeks and Bitcoin traded at about $50,000.
Stocks To Watch
Eicher Motors: Board has re-appointed Siddhartha Lal as Managing Director for five years. The Board has approved a revised remuneration structure for Lal with a maximum cap of 1.5% of profits. Specific details of the remuneration to be shared via the postal ballot. The Board to go back to shareholders for approval through postal ballot.
Maruti Suzuki India: The Competition Commission of India has imposed a penalty of Rs 200 crore on the company for restricting discounts by dealers. The company was penalised for “indulging in anti-competitive conduct of Resale Price Maintenance in the passenger vehicle segment by way of implementing Discount Control Policy vis-à-vis dealers,” the regulator said. CCI has also directed the company to cease and desist from indulging in anti-competitive practices.
Canara Bank: Raised Rs 2,500 crore through QIP. The Board of Directors of the bank approved closure of the issue period for QIP on August 23 and the issue price of Rs 149.35 per equity share. The issue price is at a discount of 4% to the floor price of Rs 155.58 per equity share.
Punjab & Sind Bank: Appropriated accumulated losses of Rs 3,577.55 crore from Share Premium Account of the bank.
Indian Hotels Company: Approved raising up to Rs 3,000 crore via rights issue. The Board also approved the formation of a Committee of Directors to decide on the terms and conditions of issue including the rights entitlement ratio, the issue price, record date, timing of the rights issue and other related matters.
Paisalo Digital: Board to meet on August 31 to consider raising funds via issue of unsecured NCDs through private placement basis.
Adani Green Energy: Board to meet on August 26 to consider raising funds via issue of securities including any senior secured or unsecured, senior or subordinated NCDs or any other permissible debt securities or by way of external commercial borrowings.
Adani Enterprises: Ordefence Systems, a step-down subsidiary of the company, has incorporated a company named PLR Systems (India). It has been incorporated with the objective to undertake the manufacture of defence and security equipment.
JSW Steel: ICRA has upgraded the credit rating of Long-Term Bank Facilities and NCDs to AA/stable from AA-.
Cadila Healthcare: Aims to make 100M-120M Covid vaccine doses annually.
Aptus Value Housing to start trading after IPO gets 17.2 times demand
Chemplast Sanmar to start trading after IPO gets 2.17 times demand
Pledge Share Details
Ajanta Pharma: Promoter Aayush Agrawal created a pledge of 3 lakh shares on August 20.
Apollo Tyres: Promoter Apollo Finance revoked pledge of 3,000 shares on August 18.
Chambal Fertilisers & Chemicals: Promoter Zuari Global created a pledge of 1.05 lakh shares on August 18.
As reported on August 23.
Greenply Industries: Promoter Showan Investment bought 56 lakh shares (4.57%) at Rs 177.95 per share. Promoter SM Management sold 56 lakh shares (4.57%) at Rs 177.95 per share.
Karda Constructions: Elara India Opportunities Fund bought 27 lakh shares (4.39%) at Rs 22.5 per share. Promoter Laxman Jagumal Karda sold 21 lakh shares (3.41%) at Rs 22.52 per share.
Olectra Greentech: Promoter MEIL Holdings bought 10.45 lakh shares (1.27%) at Rs 280.15 per share. Promoter Trinity Infraventures sold 10.80 lakh shares (1.32%) at Rs 280.11 per share.
RPSG Ventures: CLSA Global Markets Pte bought 12.83 lakh shares (4.84%) at Rs 598.5 per share. Kotak Mahindra (International) sold 12.83 lakh shares (4.84%) at Rs 598.5 per
Adani Green Energy: Promoter Infinite Trade and Investments bought 18.75 lakh shares on August 20.
GHCL: Promoter Ram Krishna Dalmia Foundation sold 3,000 on August 20.
Karda Constructions: Promoters (Laxman Karda and Karamchand Karda) sold 66.50 lakh shares on August 20.
Mangalore Chemicals & Fertilizers: Promoter Adventz Finance bought 27,769 shares on August 20.
Man Infraconstruction: Promoter Mansi Shah bought 4.78 lakh shares between August 20-23.
Poonawalla Fincorp: Promoter Celica Developers sold 50 lakh shares on August 20.
Who’s Meeting Whom
Cipla: To meet Investec Capital Services (India) on August 24.
HSIL: To meet Tusk Investments on August 24.
Indian Energy Exchange: To meet Janchor Partners on August 24.
IIFL Finance: To meet Myriad (HK) on August 24.
Nazara Technologies: To meet GIC on August 24.
Steel Strips Wheels: To meet Edelweiss Securities on August 25.
KEI Industries: To meet Phillip Capital (India) and Jefferies India on August 24.
Ex-Date AGM: Ugro Capital, Apollo Pipes, Macrotech Developers, Precision Wires India, Sundaram Finance, Snowman Logistics
Ex-Date Interim Dividend: Datamatics Global Services, Natco Pharma
Ex-Date Final Dividend: Sundaram Finance, Precision Wires India
Record Date Interim Dividend: Sun Tv Network
Record Date Final Dividend: Indiamart Intermesh, Balaji Telefilms
Record Date Dividend: DLF
Price Band Revised From 10% To 5%: Future Lifestyle Fashions, NACL Industries
Price Band Revised From 20% To 10%: Ujjivan Financial Services
Money Market Update
The rupee ended at 74.21 against the U.S. Dollar on Monday as compared to Friday's closing of 74.39.
Nifty August futures ended at 16,493.35, a discount of 3.1 points
Nifty August futures shed 11.53%, and 25,076 shares in Open Interest
Nifty Bank August futures ended at 35,125, a premium of 0.6 points
Nifty Bank August futures shed 18.86%, and 13,598 shares in Open Interest
Securities that continue to be on the ban list: Canara Bank, NMDC, Sun TV
Securities added to the ban list: Vodafone Idea
Securities removed from the ban list: Nalco, Punjab National Bank, Vedanta