All You Need To Know Going Into Trade On September 1
Asian stocks were steady Wednesday as traders evaluated the resilience of the global recovery to the delta virus strain and the outlook for central bank stimulus support.
Shares made gains in Japan, fluctuated in South Korea and fell in Australia. U.S. equities edged back from all-time highs amid some mixed data, including a drop in consumer confidence to a six-month low and a record jump in home prices. S&P 500 and Nasdaq 100 futures were little changed.
Hawkish comments from some European Central Bank officials highlighted the prospect of a tapering in the monetary-policy largesse that has helped financial markets. Treasury yields advanced following losses in European sovereign debt. Australian government bond yields rose. The dollar was steady.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, fell 0.11% to 17,107 as of 7:20 a.m.
Elsewhere, oil was steady ahead of an OPEC+ meeting that could result in a rise in output.
Data to Watch
10:30am: Markit India Manufacturing PMI for August, prior 55.3
Stocks To Watch
Maruti Suzuki India: Expects output to plunge in September as the semiconductor shortage hits production. Total vehicle production volume could be around 40% of normal output, the company said. Vehicle production to be affected at Haryana plant and contract manufacturer, Suzuki Motor Gujarat Pvt.’s Gujarat facility. The company cited “a supply constraint of electronic components due to the semiconductor shortage situation” for the impact on production.
Shoppers Stop: Approved sale of 100% equity shares held by the company in Crossword Bookstores, a wholly owned subsidiary, to M/s.Dinesh Gupta, Aakash Gupta & Family (Owners of Agarwal Business House). The business of Crossword Bookstores is valued at Rs 41.6 crore. ABH will take over all the assets and brand.
BHEL: Secured order worth Rs 10,800 crore from NPCIL for EPC of Turbine Island for 6 units of 700 MWe. Six orders, received from NPCIL on August 30, envisage setting up of 4 units of 700 MWe at Gorakhpur, Haryana and 2 units of 700 MWe at Kaiga, Karnataka.
Likhitha Infrastructure: Received an order worth Rs 145.86 crore from Indradhanush Gas Grid for laying and construction of steel gas pipeline and terminals along with associated facilities for section 5 & 9 of North-East Gas Grid Project.
Wipro: Partnered with HERE Technologies to offer location-based services, to customers from energy & utilities, manufacturing, transport & logistics, telecom and automotive industry verticals. Wipro and HERE will jointly develop solutions in the areas of asset tracking, logistics, supply chain, smart-metering and analytics, field workforce management, and private mapping-as-a-service for indoor and outdoor real-time asset tracking.
AU Small Finance Bank: Clarified on recent exits at the bank. Sumit Dhir, head of internal audit resigned due to changes in personal circumstances following Covid second wave, the bank said. Dhir continues to be on the bank's rolls as head of internal audit. The bank remains in discussions with him for a possible retention. In March, Nitin Gupta, who had been with the bank since 2015, resigned as head of internal audit. And in July Alok Gupta resigned as the chief risk officer.
ONGC: Begins gas production from deepwater well in KG Basin block
Mastek: The company partnered with fulfillmenttools to deliver modern omnichannel fulfillment solutions to customers worldwide.
CreditAccess Grameen: Approved allotment of 1,000 secured NCDs of face value of Rs 10 lakh each, aggregating up to Rs 100 crore on private placement basis.
Tourism Finance Corporation of India: To consider fundraising proposal on September 3. The board may consider raising funds by way of issue of equity shares, convertible/non-convertible preference shares, convertible securities of any description or warrants or debt securities.
JB Chemicals & Pharmaceuticals: Vijay Bhatt has resigned as the Chief Financial Officer of the company effective August 31.
Chemplast Sanmar: Appointed N Muralidharan as the Chief Financial Officer with effect from September 1.
HDFC Life Insurance Company: To consider issue of equity shares and/or other securities of the company by way of preferential allotment on September 3.
Bank of Baroda: Says ED Khichi’s term extended until July 2022
MapmyIndia files initial share sale documents for India listing. Shareholders of the company, formally named C.E. Info Systems, will sell 7.55 million shares in the IPO, according to a draft document filed with regulators.
AMI Organics has raised Rs 170.89 crore from anchor investors ahead of its IPO. The company allotted 28.01 lakh equity shares to 20 anchor investors at Rs 610 a piece.
Vijaya Diagnostics has raised over Rs 566 crore from anchor investors ahead of its IPO. The company has decided to allocate 1.06 crore equity shares to 29 anchor investors at Rs 531 a piece. Fidelity Management Research, Fidelity Investments, Aberdeen, Abu Dhabi Investment Authority, Kuwait Investment Authority and Government Pension Fund Global are among the anchor investors.
Pledge Share Details
Adani Enterprises: Promoter group (Gautam Adani and Rajesh Adani) revoked pledge of 7.19 lakh shares on August 27.
Adani Ports and SEZ: Promoter group (Gautam Adani and Rajesh Adani) revoked pledge of 13.37 lakh shares on August 27.
Adani Transmission: Promoter group (Gautam Adani and Rajesh Adani) revoked pledge of 50,000 shares on August 27.
Solara Active Pharma Sciences: Promoter Pronomz Ventures LLP created a pledge of 3.50 lakh shares between August 26-30. Promoter Chayadeep Properties revoked pledge of 50,000 shares on August 30.
As reported on August 31.
Seamec: Rashi Fincorp bought 1.48 lakh shares (0.58%) at Rs 749.18 per share.
Adani Green Energy: Promoter Infinite Trade and Investments bought 30 lakh shares between August 27-30.
Apollo Tyres: Promoter PTL Enterprises bought 30,000 shares on August 25.
Alicon Castalloy: Promoter Shailendrajit Rai bought 2.66 lakh shares on August 26.
Bajaj Finance: Promoter Bajaj Allianz Life Insurance Co. bought 47,000 shares on August 26.
Cholamandalam Financial Holdings: Promoter Saraswathi Trust sold 23,000 shares on August 30.
Eveready Industries India: Promoter Vivaya Enterprises bought 30,000 shares on August 27.
Elecon Engineering: Promoter Aishwarya Patel bought 3,000 shares on August 26.
Inox Wind: Promoter Inox Wind Energy sold 12.98 lakh shares between August 26-30
Gujarat Fluorochemicals: Promoter Inox Chemicals LLP sold 57,529 shares between August 27-30.
GHCL: Promoter Ram Krishna Dalmia Foundation sold 3,000 shares on August 26.
LG Balakrishnan & Bros.: Promoter V Rajvirdhan sold 1.71 lakh shares between August 27-30.
SVP Global Ventures: Promoter Moumita Gattani sold 2.90 lakh shares between August 17-26.
Safari Industries (India): Promoter group Safari Commercial sold 1.03 lakh shares on August 30.
Who’s Meeting Whom
Poonawalla Fincorp: To meet Wellington Management Singapore PTE on September 1.
HSIL: To meet Locus Investment Group on September 1.
IIFL Finance: To meet Duro Capital on September 1.
Associated Alcohols & Breweries: To meet Ventura Securities on September 1.
Allcargo Logistics: To meet Ventura Securities on September 3.
Ex-Date AGM: Bombay Dyeing & Mfg Company, JB Chemicals & Pharmaceuticals, LG Balakrishnan & Bros, Bannari Amman Sugars
Ex-Date Dividend: Bannari Amman Sugars, LG Balakrishnan & Bros
Ex-Date Final Dividend: JB Chemicals & Pharmaceuticals, KPR Mill
Record Date Interim Dividend: Power Finance Corporation
Record Date Final Dividend: Galaxy Surfactants, Advanced Enzyme Technologies
Move Into Short-Term ASM Framework: Stove Kraft, Gayatri Projects
Money Market Update
The rupee ended at 73 against the U.S. Dollar on Tuesday as compared to Monday's closing of 73.27.
Nifty September futures ended at 17,130.20, a discount of 2 points
Nifty September futures added 3.54%. and 9,828 shares in Open Interest
Nifty Bank September futures ended at 36.490.15, a premium of 65.55 points
Nifty Bank September futures added 4.84%, and 3,330 shares in Open Interest
Securities added to the ban list: Canara Bank