All You Need To Know Going Into Trade On August 25
Asian stocks edged up Wednesday at the open after U.S. gains as strong corporate earnings and a commodity rally boost confidence in the economic recovery from the pandemic.
Benchmarks advanced in Japan, South Korea and Australia. U.S. contracts fluctuated after the S&P 500 and the Nasdaq 100 closed at record highs, with Best Buy Co. the latest U.S. retailer to report robust consumer demand.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, climbed 0.47% to 16,697.50 as of 7:25 a.m.
In commodity markets, oil held above $67 a barrel in part on China’s success in stamping out virus flare-ups, which is easing some of the concerns about the impact of the delta variant on demand. Iron ore also climbed.
In the latest developments following China’s crackdown on private industries, the Securities and Exchange Commission said it will demand that the more than 250 Chinese companies trading in U.S. markets better inform investors about political and regulatory risks.
Stocks To Watch
Adani Ports & SEZ: Company's proposal to acquire 10.4% stake for Rs 644.78 crore of Gangavaram Port Ltd. from the Andhra Pradesh government has received approval from the state's maritime board. The transaction is expected to complete within a month.
Canara Bank: Billionaire investor Rakesh Jhunjhunwala has bought 1.59% stake, according to updated shareholding statement released by the state-run lender. The bank had approved allotment of 16.73 crore shares via qualified institutional placement a day earlier.
ICICI Bank: The Reserve Bank of India has approved reappointment of Sandeep Bakhshi as Managing Director and CEO from Oct. 15, 2021 to Oct. 3, 2023.
Bharti Airtel: India’s top court allows Airtel to move tribunal on AGR dues
Wipro: To open a new delivery center in Sherwood, Arkansas. The company will invest approximately $3 million to transform a 70,000 square-foot facility at Landers Road into a customer service center. The delivery center will provide operational services to Wipro’s clients across industry verticals. Wipro expects to hire up to 400 employees in the next two years in Arkansas. Further the company has been awarded a strategic multi-year contract by E.ON for digital transformation of their financial area. Wipro will provide Application Maintenance & Support Services for innovative projects on SAP S/4HANA.
WABCO India: Promoter ZF International U.K. to sell 3.80 lakh equity shares, representing 2.01% of the total equity share capital, through an Offer for Sale. The floor price of Rs 6,900 per share is a 3.83% discount to Tuesday's closing price. The OFS opens for non-retail investors today and for retail investors on August 26.
Centrum Capital: Approved the transfer of the entire business of its two wholly owned material subsidiaries, Centrum Financial Services and Centrum Microcredit, to its proposed small finance bank, via a slump sale, subject to approval of the members and other requisite statutory and regulatory approvals.
Tata Steel: Brickwork Ratings has upgraded the credit rating of unsecured NCD issues aggregating Rs 4,000 crore to AA+/Stable from AA/Stable.
Tatva Chintan Pharma Chem: Mahesh Tanna has resigned as the Chief Financial Officer of the company. Tanna’s resignation to be effective from August 31.
Earnings to watch: Procter & Gamble Hygiene Q4 FY21
Kotak Mahindra Bank
Vijaya Diagnostic Centre has filed DRHP for initial share sale. The company's shareholders plan to sell up to 3.57 crore share.
Pledge Share Details
Adani Transmission: Promoter Adani Tradeline LLP revoked pledge of 8.54 lakh shares on July 20.
As reported on August 24.
Arvind Fashions: Promoter Aura Business Ventures bought 7.23 lakh shares (0.64%) at Rs 262.28 per share. Multiples Private Equity FII sold 9.14 lakh shares (0.81%) at Rs 261.75 per share.
Capacite Infraproject: Think India Opportunities Master Fund LP sold 13.99 lakh shares (2.06%) at Rs 142.1 per share.
Chemplast Sanmar: Copthall Mauritius Investment sold 8.92 lakh shares at Rs 534.97 per share. CLSA Global Markets Pte sold 11.94 lakh shares at Rs 548.95 per share.
Greenply Industries: Promoter Showan Investment bought 1.11 crore shares (9.11%) at Rs 173.45 per share. Promoter SM Management sold 97.26 lakh shares (7.93%) at Rs 173.45 per share. Promoter Vanashree Properties sold 14.48 lakh shares (1.18%) at Rs 173.45 per share.
Sudarshan Chemical Industries: Axis Mutual Fund bought 5.89 lakh shares (0.85%) at Rs 565 per share. Promoter Rahul Rathi sold 9.80 lakh shares (1.42%) at Rs 565.04 per share.
AAVAS Financiers: Promoters (Partners Group ESCL and Partners Group Private Equity) sold 34.13 lakh shares on August 20.
Bhageria Industries: Promoter Bhageria Trade-Invest bought 10,000 shares on August 23.
Elecon Engineering Co: Promoter Taruna Patel bought 5,000 shares on August 20.
GRM Overseas: Promoters (Atul Garg and Mamta Garg) bought 41,300 shares between August 19-23.
Karda Constructions: Promoters (Laxman Karda and Neha Karda) sold 31 lakh shares on August 23.
Meghmani Organics: Promoter Ashishbhai Soparker bought 1 lakh shares on August 23.
Mangalore Chemicals & Fertilizers: Promoter Adventz Finance bought 30,000 shares on August 23.
Ultramarine & Pigments: Promoters (Sridhar Sundararajan HUF and Kala Sundarvedha) sold 11,960 shares on August 23.
Who’s Meeting Whom
Punjab Chemicals and Crop Protection: To meet Highwest Global on August 25.
Dixon Technologies (India): To meet Barings Asset Management on August 26 and Prusik Investment Management on August 27.
Ex-Date AGM: Indian Energy Exchange, Kokuyo Camlin, TVS Srichakra, Action Construction Equipment, Mangalore Refinery and Petrochemicals
Ex-Date Final Dividend: Hikal, Action Construction Equipment, DCM Shriram Industries, Fermenta Biotech
Ex-Date Interim Dividend: Polyplex Corporation, DB Corp
Ex-Date Dividend: TVS Srichakra
Ex-Date Buyback: Star Cement
Record Date Interim Dividend: Natco Pharma, Datamatics Global Services
Price Band Revised From 10% To 5%: Prime Focus
Price Band Revised From 20% To 10%: Capacite Infraprojects
Move Into ASM Framework: Max Healthcare Institute
Move Into Short-Term ASM Framework: Apex Frozen Foods, Ujjivan Financial Services, Ujjivan Small Finance Bank, Capacite Infraprojects, Sadbhav Engineering, IFGL Refractories
Money Market Update
The rupee ended at 74.19 against the U.S. Dollar on Tuesday as compared to Monday's closing of 74.21.
Nifty August futures ended at 16,616, a discount of 8.6 points.
Nifty August futures shed 19.28%, and 37,114 shares in Open Interest.
Nifty Bank August futures ended at 35,708.65, a discount of 3.45 points.
Nifty Bank August futures shed 29.56%, and 17,298 shares in Open Interest.
Securities that continue to be on the ban list: Canara Bank, NMDC, Vodafone Idea.
Securities added to the ban list: SAIL.
Securities removed from list: Sun TV.