All You Need To Know Going Into Trade On August 31
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Asian stocks were steady Tuesday as traders assessed weaker economic activity in China and the latest escalation in Beijing’s regulatory crackdown on private industries.
Equities slipped in Japan and South Korea but pushed higher in Australia. U.S. contracts fluctuated after the S&P 500 notched its 12th all-time high in August and the Nasdaq 100 advanced. Apple Inc.’s market value scaled $2.5 trillion.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, declined 0.16% to 16,937.50 as of 7:20 a.m.
Treasuries held the gains made following Federal Reserve Chair Jerome Powell’s measured comments about a possible reduction in stimulus and any eventual interest-rate hikes. The dollar was little changed.
In the latest U.S. data, pending home sales fell in July. Traders are awaiting key payrolls figures Friday for further guidance on the economy’s strength.
Elsewhere, oil headed for the biggest monthly loss since October. Traders are weighing the prospect of additional OPEC+ production and the restoration of crude output in the U.S. after Hurricane Ida. In cryptocurrencies, Bitcoin fell below $47,000.
Data To Watch
4pm: India fiscal deficit in rupees for April-July period
5pm: India Eight Infrastructure Industries Index for July, Prior 8.9%
5:30pm: India GDP for quarter ended June; est. 21.0% (prior 1.6%)
5:30pm: India GVA for quarter ended June; est. 19.6% (prior 3.7%)
Stocks To Watch
Tata Power Co. and Adani Power Ltd. to sell power on exchange for one month, according to a Economic Times report. Ministry of Power will issue a statutory order allowing plants run by Tata Power Co. and Adani Power Ltd. at Mundra in Gujarat to sell electricity on the power exchanges for a month. About 3,200 MW capacity at Tata Power’s Mundra plant and Adani Power’s 1,200 MW plant will be allowed to sell on the power exchanges for a month to ease electricity supply, according to the report.
Bharat Forge: Says report on Tesla talks incorrect
Bharti Airtel: To take ‘Baby Steps’ to raise tariffs, Mittal says
Jindal Steel & Power: Board has approved a plan to raise up to $1 billion by selling bonds denominated in foreign currency or rupee in one or more tranches.
L&T: The company has completed the sale of its entire stake in L&T Uttaranchal Hydropower to ReNew Power Services.
Ugro Capital: To consider raising funds through various options of borrowings including by way of issue of debt securities through private placement or public issue in September.
HFCL: Board of Directors to meet on September 3 to consider the proposals for raising funds by way of issue of equity shares/preference shares/bonds/debentures/non-convertible debt instruments/warrants/any other securities, including through preferential issue on a private placement basis, QIP, rights issue or any other methods or combination thereof.
NHPC: The Unit 3 (60 MW) of Bairasiul Power Station in Himachal Pradesh has been tested and commissioned after completion of renovation and modernisation works. The commercial operation of Unit 3 will start from August 31, the company said.
Bank of India: Approved the closure of the issue period for QIP on August 30 and the issue price of Rs 62.89 per equity share. The issue price is at a discount of 4.99% to the floor price of Rs 66.19 per equity share.
AGMs: Bharti Airtel (3 p.m.); Sun Pharmaceutical Industries (3 p.m.); GAIL India (11:30 a.m.); DLF (12:30 p.m.); Apollo Hospitals Enterprise (10:15 a.m.), Exide Industries (10:30 a.m.)
Pledge Share Details
Jindal Steel & Power: Promoter Siddeshwari Tradex created a pledge of 5 lakh shares on August 25.
Steel Exchange India: Promoter Vizag Profiles created a pledge of 25.64 lakh shares on August 26.
As reported on August 30.
Bulk Deals
Coffee Day Enterprise: KKR Mauritius PE Investments II sold 24.50 lakh shares (1.16%) at Rs 25.47 per share.
Stove Kraft: WHV-EAM International Small Cap Equity Fund bought (1.02%) 3.33 lakh shares at Rs 947.74 per share.
VIP Industries: Pioneer Investment Fund bought 23.48 lakh shares (1.66%) at Rs 460 per share. Promoter DGP Enterprises sold 16.30 lakh shares (1.15%) at Rs 460 per share. Promoter Kiddy Plast sold 26 lakh shares (1.84%) at Rs 460.02 per share.
Insider Trades
Cholamandalam Financial Holdings: Promoter Lalitha Vellayan sold 3.07 lakh shares on August 26.
Surya Roshni: Promoter Surya Roshni Employees Welfare Trust bought 10,000 shares on August 26.
SVP Global Ventures: Promoters (Shubhankar Gattani and Moumita Gattani) sold 1.47 lakh shares between August 17-26.
Who’s Meeting Whom
Ambuja Cements: To meet Franklin Templeton on August 31.
KEC International: To meet Elara Securities (India) on September 1 and Reliance Securities on September 3.
Titan Company: To meet Macquarie Capital Securities (India) on August 31.
Trading Tweaks
Ex-Date AGM: Ashok Leyland, Rossell India, Galaxy Surfactants, Century Plyboards (India), KEI Industries, GMR Infrastructure, The India Cements, Power Finance Corporation
Ex-Date Final Dividend: Advanced Enzyme Technologies, Ashok Leyland, Century Plyboards (India), Galaxy Surfactants, Rossell India
Ex-Date Dividend: India Cements
Ex-Date Interim Dividend: Power Finance Corporation
Record Date Interim Dividend: Kama Holdings
Record Date Dividend: Kitex Garments
Record Date For Reduction Of Capital: 3i Infotech
Record Date Buyback: Gandhi Special Tubes
Price Band Revised From 10% To 5%: Jain Irrigation Systems
Price Band Revised From 5% To 20%: Exxaro Tiles
Move Out Of Short-Term ASM Framework: VST Tillers Tractors, Fiem Industries
Money Market Update
The rupee ended at 73.27 against the U.S. Dollar on Monday as compared to Friday's closing of 73.68.
F&O Cues
Nifty September futures ended at 16,951.90, a premium of 20.85 points
Nifty September futures added 3.37%. and 9,034 shares in Open Interest
Nifty Bank September futures ended at 36.521.70, a premium of 174.05 points
Nifty Bank September futures added 13.87%, and 8,382 shares in Open Interest
