All You Need To Know Going Into Trade On November 17

Most Asian stocks dipped Wednesday after robust U.S. economic data lifted Wall Street shares, Treasury yields and the dollar and prompted more calls for tighter monetary policy.

Shares were lower in Japan, South Korea and Australia. U.S. futures were little changed after American benchmarks extended a rally, buoyed by expanding retail sales and factory output. A call for more hawkish monetary policy from Federal Reserve Bank of St. Louis President James Bullard underlined worries that high inflation could eventually bite.

The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, fell 0.34% to 17,944.50, as of 7:05 a.m.

Treasuries held losses, with the 10-year yield above 1.6%. Traders are waiting to see the strength of demand at an auction of 20-year notes Wednesday. The dollar was near the highest level in 12 months. Markets are waiting for President Joe Biden to select the Fed chair nominee.

Elsewhere, cryptocurrencies remained lower after a tumble, with Bitcoin trading below $60,000.

Stocks To Watch

• Biocon: Biocon Biologics and Viatris Inc. have launched interchangeable SEMGLEE (insulin glargineyfgn) injection and Insulin Glargine (insulin glargine-yfgn) injection in U.S. to help control high blood sugar in adult and pediatric patients with type 1 diabetes and adults with type 2 diabetes.

• InterGlobe Aviation: IndiGo has scrapped plans to raise funds as revenue recovers. IndiGo is unlikely to raise funds through a share sale to institutional investors, as the carrier’s revenue is recovering and there are no signs of third wave of the Covid pandemic erupting in India, CEO Ronojoy Dutta said. The budget carrier is also mulling charging passengers for checked-in luggage.

• Infosys and MIT Technology Review launched ‘The Cloud Hub’, a forum offering insights and learning from successful cloud transformations to help global enterprises accelerate their cloud journey.

• Ugro Capital: State Bank of India has inducted Ugro Capital as its first co-lending partner for its Sanjeevani program to finance MSMEs. Through this collaboration, SBI and Ugro aim to disburse upto Rs 500 crore by March 2022.

• Tourism Finance Corporation of India: Resource Committee to meet on November 22 to consider issuing NCDs on private placement basis.

• Home First Finance Company India: Board to meet on November 22 to consider raising up to Rs 99 crore via issuance of secured NCDs on private placement basis.

Offerings

• Go Fashion (India) has raised Rs 456.12 crore from anchor investors ahead of its IPO rollout on Wednesday. The company allocated 66.10 lakh shares to 33 anchor investors at Rs 690 apiece.

• Tarsons Products IPO was subscribed 3.58 times on the second day.

Pledge Share Details

• Ajanta Pharma: Promoter Ravi Agrawal created a pledge of 1 lakh shares on November 15.

• Chambal Fertilisers & Chemicals: Promoter Zuari Global revoked pledge of 1.30 lakh shares on November 11.

• Future Consumer: Promoter Future Capital Investment invoked pledge of 20 lakh shares between November 11-12.

• Future Retail: Promoter Future Corporate Resources invoked pledge of 1.01 lakh shares on November 11.

  As reported on November 16.

Bulk Deals

• Metropolis Healthcare: Promoter Duru Sushil Shah sold 4.25 lakh shares (0.83%) at Rs 3,142.72 per share.

• Tanla Platforms: Pioneer Investment Fund bought 13.50 lakh shares (1%) at Rs 1,200 per share. Banyan Investments sold 20.58 lakh shares (1.52%) at Rs 1,200.04 per share.

• Poonawalla Fincorp: Promoter Rising Sun Holdings bought 1.24 crore shares (1.62%) at Rs 201.5 per share. Microfirm Capital sold 1.22 crore shares (1.61%) at Rs 201.56 per share.

• Punjab Alkalies & Chemicals: Plutus Wealth Management LLP bought 2.50 lakh shares (0.52%) at Rs 194.24 per share.

• TV Today Network: Abakkus Asset Manager LLP bought 8 lakh shares (1.34%) at Rs 345 per share. Steinberg India Emerging Opportunities Fund sold 8 lakh shares (1.34%) at Rs 345 per share.

• Kirloskar Pneumatic Co: HDFC Mutual Fund sold 5 lakh shares (0.78%) at Rs 410.10 per share.

Block Deals

• Elpro International: Promoter IGE (India) bought 1.34 crore shares (7.95%) at Rs 60.50 per share. Promoter International Conveyors sold 1.34 crore shares (7.95%) at Rs 60.50 per share.

Insider Trades

• Gujarat Fluorochemicals: Promoter Inox Chemicals LLP sold 29,594 shares on November 15.

• Heritage Foods: Promoter Neelima NP sold 9,375 shares between November 8-12.

Who’s Meeting Whom

• Dr. Lal PathLabs: To meet Motilal Oswal Mutual Fund on November 17.

• Gujarat Pipavav Port: To meet Bajaj Allianz Life Insurance Company, L&T Mutual Fund, Birla Sun Life Insurance Company, Canara HSBC Life Insurance Company and BNP Paribas India on November 17.

• Eris Lifesciences: To meet Ask Investment Managers, Aum Fund Advisors LLP, Quest Investment Advisors and Fundsmith LLP on November 17.

• Indian Energy Exchange: To meet Union Mutual Fund on November 17.

• UltraTech Cement: To meet GAM Investments on November 17.

• Nuvoco Vistas Corporation: To meet Nirmal Bang and Dolat Capital Research and Development on November 17. The company will meet Antique Stock Broking and Investec Capital Services (India) on November 18.

• Crisil: To meet Monarch Networth Capital on November 18.

Trading Tweaks

• Ex-Date Interim Dividend: MRF, Page Industries, Petronet LNG, Anupam Rasayan India, Astral, Aurobindo Pharma, Balkrishna Industries, Shyam Metalics and Energy, Balu Forge Industries, EID-Parry (India), EPL, ESAB India, Laurus Labs, Pitti Engineering, Saksoft

• Ex-Date Final Dividend: Gujarat Mineral Development Corporation

• Ex-Date Bonus Issue: Man Infraconstruction

• Ex-Date Income Distribution RITES: Mindspace Business Parks REIT

• Move Into Short-Term ASM Framework: NIIT, Asahi India Glass

• Move Out Of Short-Term ASM Framework: Barbeque Nation Hospitality

• Record Date Interim Dividend: Amrutanjan Health Care, Gulshan Polyols, Nahar Spinning Mills

• Record Date Income Distribution RITES: Brookfield India Real Estate Trust REIT

Money Market Update

• The rupee ended at 74.37 against the U.S. Dollar on Tuesday as compared to Monday's closing of 74.48.

F&O Cues

• Nifty November futures ended at 17,987; a discount of 12.2 points.

• Nifty November futures shed 1.22% and 2,473 shares in Open Interest

• Nifty Bank November futures ended at 38,321.75; a premium of 14.65 points

• Nifty Bank November futures added 3.57% and 2,895 shares in Open Interest

• Securities in the ban list: Punjab National Bank, Sun TV, BHEL, Indiabulls Housing Finance, IRCTC, SAIL, Nalco

• Securities removed from the ban list: Bank of Baroda, Escorts

Top Research Reports

• Go Fashion IPO - Market Leader In Women’s Bottom-Wear Space: ICICI Direct

• RailTel Q2 Review - Expects 25% Revenue Growth In FY22: ICICI Securities

• Insecticides India Q2 Review — Higher Profitability Despite Input Inflation: ICICI Securities

• GE T&D India Q2 Review - Muted Execution Impacts Margins: ICICI Securities