All You Need To Know Going Into Trade On August 27
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Asian stocks dipped early Friday as traders weighed hawkish comments from some Federal Reserve officials ahead of the Jackson Hole symposium and geopolitical tension over Afghanistan.
Shares retreated in Japan, South Korea and Australia. U.S. contracts fluctuated after the S&P 500 fell from a record overnight, in part as some Fed officials said the time to start tapering stimulus is near.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, fell 0.27% to 16,623.50 as of 6:55 a.m. Meanwhile, President Joe Biden vowed retaliation for deadly blasts outside Kabul airport that stoked tension as the U.S. evacuates the area.
Treasury yields edged lower. Traders are awaiting Chair Jerome Powell’s speech at the symposium for clues on how the Fed might pare bond purchases. A flood of Treasury options set to expire Friday raise the prospect for volatility in the wake of his remarks.
Elsewhere, oil advanced as it headed toward its strongest week since February. Gold held below $1,800 an ounce. Bitcoin was trading around $46,500.
Stocks To Watch
Wipro: The company has partnered with DataRobot to deliver Augmented Intelligence at scale, to help customers become AI driven enterprises, and accelerate their business impact. This collaboration will help accelerate the execution of AI strategy and will ensure quicker “data to value” for businesses, the company said.
Infosys: Infosys Public Services Inc, a subsidiary of the company, has been awarded a contract by Manitoba Public Insurance to digitise driver licensing, vehicle registration, and International Registration Plan services for over 900,000 Manitobans.
IDFC First Bank: RBI has approved the appointment of Sanjeeb Chaudhuri as the part-time Chairman of the bank for a period of three years with effect from August 25. Chaudhuri has served on the boards of Aditya Birla Fashion & Retail, Citigroup Europe and Standard Chartered Securities.
Adani Green Energy: To raise up to $750 million via bond sale overseas. The company approved issuing U.S. dollar denominated foreign currency bonds which may be issued in one or more tranches overseas. The bonds may be listed in any one or more stock exchanges in India or overseas. The company will use proceeds from the bond sale for onward lending to subsidiaries, including step-down subsidiaries, for capital expenditure requirements to fund the development of utility scale projects.
ADF Foods: The company’s wholly owned subsidiary, ADF Holdings (USA), will make an investment of up to $5 million, which would entail asset purchase and setting up of a step-down subsidiary in the United States. ADF Holdings (USA) will have a 70% stake in the proposed step-down subsidiary, which will be a distribution company and will help the company move up the value chain. This will further strengthen its penetration and distribution with the retailers with an enlarged product portfolio.
NLC India: Allotted 10,000 Commercial Papers of face value of Rs 5 lakh each aggregating to Rs 500 crore on August 25.
Mahindra CIE Automotive: Subscribed to 74.34 lakh equity shares of face value of Rs 10 each of ReNew Surya Alok. Consequently, the company’s stake in ReNew has increased to 82.60 lakh equity shares constituting 31.20% of the total equity capital.
JK Lakshmi Cement: Shareholders approved the reappointment of Vinita Singhania as Managing Director of the company for a period of five years effective August 1.
BHEL: The company has signed a Memorandum of Understanding with JSC Rosoboronexport. The MoU aims to cooperate and implement possible joint projects and activities with BHEL for joint production of spare parts and components for Russian-origin equipment installed onboard the Indian Navy Aircraft Carrier, Vikramaditya, and maintenance of systems and equipment of Aircraft Carrier, Vikramaditya, and on other issues of mutual interest, the company said.
InterGlobe Aviation: To start 8 new domestic flights in first week of September: PTI
Aurobindo Pharma: Gets USFDA nod for cyclophosphamide injection.
Offerings
Vijaya Diagnostic sets Rs 522-531/share price band for IPO
Ami Organics IPO to be open for subscriptions Sept. 1-3. Sets Rs 603-610/share price range.
AGMs
Berger Paints
Grasim Industries
HCL Technologies
Indian Oil
NCC
Novartis India
Pledge Share Details
Bajaj Hindusthan Sugar: Promoters (Kushagra Bajaj and SKB Roop Commercial LLP) created a pledge of 14.38 crore shares between August 24-25.
DB Corp: Promoter DB Consolidated created a pledge of 11 lakh shares on August 24.
Kalpataru Power Transmission: Promoter Kalpataru Constructions revoked pledge of 1.29 lakh shares on August 23. Promoter Kalpataru Properties created a pledge of 1.29 lakh shares on August 24.
Zuari Agro Chemicals: Promoters (Zuari Global and Zuari Management Services) created a pledge of 17 lakh shares on August 23.
As reported on August 26.
Bulk Deals
Cheviot Co.: Promoter Harsh Investments bought 3.75 lakh shares (5.98%) at Rs 1,310 per share. Promoter Malati Kanoria sold 3.75 lakh shares (5.98%) at Rs 1,310 per share.
Greenply Industries: Promoter Showan Investment bought 60.42 lakh shares (4.93%) at Rs 182.25 per share. Promoter Prime Holdings sold 60.42 lakh shares (4.93%) at Rs 182.25 per share.
Insider Trades
Adani Green Energy: Promoter Infinite Trade and Investments bought 13.80 lakh shares on August 25.
Apollo Tyres: Promoter PTL Enterprises Bought 1 Lakh Shares Between August 23-24
Elecon Engineering: Promoters (Taruna Patel and Akanksha Patel) bought 10,650 shares between August 23-24.
GRM Overseas: Promoters (Atul Garg and Mamta Garg) bought 23,802 shares between August 24-25.
Jindal Stainless (Hisar): Promoter JSL Overseas bought 1.50 lakh shares on August 25.
NRB Bearings: Promoters (Harshbeena Zaveri and Aziz Zaveri) bought 9,100 shares between August 20-23.
Who’s Meeting Whom
Tata Chemicals: To meet Ishana Capital on August 27.
UltraTech Cement: To meet Neuberger Berman Group LLC on August 27.
Meghmani Finechem: The company's officials will meet GIC (Government of Singapore Investment Corporation) on August 27.
Narayana Hrudayalaya: To meet UTI Mutual Fund on August 30.
Garware Hi-Tech Films: To meet Aditya Birla Money on August 31.
Trading Tweaks
Ex-Date AGM: Hatsun Agro Product, Panama Petrochem, Gateway Distriparks, HG Infra Engineering
Ex-Date Interim Dividend: Aurobindo Pharma, Computer Age Management Services
Ex-Date Final Dividend: CEAT, HG Infra Engineering, Panama Petrochem, Sutlej Textiles & Industries
Ex-Date Dividend: Amines & Plasticizers
Record Date Dividend: Kirloskar Brothers
Record Date Final Dividend: Indo Count Industries
Record Date Interim Dividend: GRM Overseas
Record Date Buy Back: R Systems International
Move Into Short-Term ASM Framework: BLS International Services, Linde India
Move Out Of Short-Term ASM Framework: SVP Global Ventures, Stylam Industries
Money Market Update
India’s bond traders are awaiting a Rs 31,000-crore sale of sovereign debt to gauge demand.
RBI won’t announce a policy shift without first preparing the market for it, Governor Shaktikanta Das was cited as saying in a CNBC interview
Central bank is in no hurry to reverse course on record low interest rates despite concern about mounting inflation, Das told CNBC in the pre-recorded TV interview aired Thursday
USD/INR closed little changed Thursday at 74.2225
Implied opening from forwards suggest spot will start trading around 74.19 on Friday
Indian 10-year yields rose 1 basis point Thursday to 6.25%
RBI will hold a 3t rupee 13-day variable reverse repo auction
F&O Cues
Nifty August futures ended at 16,638.95, a premium of 2.05 points.
Nifty August futures shed 41.61%, and 64,652 shares in Open Interest.
Nifty Bank August futures ended at 35,618, a premium of 0.45 points.
Nifty Bank August futures shed 50.17%, and 20,677 shares in Open Interest.
Securities removed from the ban list: NMDC, Nalco, Vodafone Idea, SAIL.
