All You Need To Know Going Into Trade On September 16
Asian stocks were steady early Thursday amid a climb in energy shares and as some of the anxiety about the recovery from the pandemic eased. Treasury yields held an advance.
Japanese and South Korean stocks fluctuated while Australia rose. U.S. futures were little changed after the S&P 500 posted the biggest jump since August, avoiding a break of its 50-day moving average. The dollar remained lower.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance rose nearly 0.1% to 17,550, as of 7:10 a.m.
Brent crude futures hit $75 for the first time since Aug. 2 as the market continues to grapple with curbed supply in the U.S. Prices have steadily climbed since late August and were given a further boost when Hurricane Ida shut down a chunk of U.S. Gulf Coast oil production.
Chinese stocks listed in the U.S. slid the sixth day and U.S. casino firms with exposure to Macau tumbled. Officials have signaled tighter curbs on operators in the gaming hub, again spotlighting Beijing’s regulatory curbs.
Stocks To Watch
Hindustan Copper: Government plans to sell 10% of the company's equity through an Offer for Sale. The initial plan is for the sale of 4.83 crore shares or 5% of the total equity with a green shoe option to sell another 4.83 crore shares or 5% of the total equity. The floor price of Rs 116 per share is at a 6.82% discount to Wednesday's closing price. The OFS opens for non-retail investors today and for retail investors tomorrow.
Coal India: Plans to offer 15 mines to developers to raise output by a combined 160 million tones per year, Chairman Pramod Agrawal said. The company is also executing 35 connectivity projects, including railway lines, at a total cost of Rs 11,500 crore ($1.6 billion) to help transport 414.5 million tons of a coal a year.
Tata Group stocks: Tata Sons has submitted a financial bid for Air India. Further, Tata Sons’ Chairman N Chandrasekaran rejected news reports that claimed the company is considering a revamp of its leadership structure. “No leadership structural changes are on the anvil, as speculated in certain sections of media,” he said.
SpiceJet: Owner Ajay Singh has bid for Air India in his personal capacity, according to a Bloomberg report.
Telecom stocks: The union cabinet has approved a relief package for telecom industry. Telecom Minister Ashwini Vaishnaw announced measures on AGR, spectrum, foreign direct investment and a moratorium on dues to the government. Together, these will give the companies a financial breather even as they make efforts to increase pricing and improve average revenue per user.
Infosys: The company has collaborated with SAP to provide Business Process Transformation-as-a-Service to enterprises.
Fineotex Chemical: The company has entered into a strategic collaboration with Eurodye-CTC, Belgium, to commercialise specialty chemicals for the Indian market.
JSW Energy: JSW Renew Energy Two, a project SPV formed by JSW Future Energy (100% subsidiary of JSW Energy) has signed Power Purchase Agreements with Solar Energy Corporation of India for the cumulative contracted capacity of 450 MW awarded against Tariff based Competitive bid invited by SECI.
Wipro: The company received multi-year IT managed services contract from Kuala Lumpur- headquartered Maxis Broadband Sdn Bhd, a leading converged solutions provider.
CEAT: Shareholders have approved issuance of NCDs up to Rs 500 crore on private placement basis.
NLC India: Allotted 10,000 Commercial Papers of Rs 5 lakh each aggregating to Rs 500 crore on September 15.
Srei Infrastructure Finance: Rakesh Bhutoria has resigned as CEO effective from closing hours of September 15. Bhutoria resigned to explore alternative sectors. His resignation was also considering the salary payment issues arising out of the Trust and Retention Account (TRA) operationalized by the bankers impacting team morale
HG Infra Engineering: The company has received the letter of award from National Highways Authority of India for two HAM projects.
Cholamandalam Investment: To invest up to Rs 97.5 million in Paytail Commerce
HealthCare Global Enterprises: Care Ratings has upgraded the rating of the long-term bank facilities of the company to A/Stable from A-/Stable.
Zee Entertainment raised to Overweight at JPMorgan; price target Rs 320
Zomato rated new Underweight at JPMorgan; price target Rs 120
AGMs: EID Parry India (3:30 p.m.); Chambal Fertilizers (10:30 a.m.); Jindal Stainless (11 a.m.); Westlife Development (2:30 p.m.); Forbs & Co. (4 p.m.)
Sansera Engineering IPO gets 102% demand on second day sale; offer close Sept. 16
Pledge Share Details
Adani Transmission: Promoter group (Gautam Adani and Rajesh Adani) created a pledge of 7 lakh shares on September 13.
Aurobindo Pharma: Promoter Kambam Kirthi Reddy created a pledge of 10 lakh shares on September 13.
Ajanta Pharma: Promoter Ravi Agrawal revoked pledge of 1 lakh shares on September 14.
As reported on September 15.
Embassy Office Parks REIT: BRE Mauritius Investments II sold 1.32 crore units (1.39%) at Rs 355.10 per unit. SG Indian Holding (NQ) CO I Pte sold 1.40 crore units (1.48%) for Rs 355.10-355.18 per unit. Integrated Core Strategies (Asia) Pte bought 60 lakh units (0.63%) at Rs 355.10 per unit. Stichting Depositary Apg Tactical Real Estate Pool bought 42.50 lakh units (0.45%) at Rs 355.10 per unit. American Funds Global Balanced Fund bought 50 lakh units (0.53%) at Rs 355.10 per unit. BNP Paribas Arbitrage bought 55.26 lakh units (0.58%) at Rs 355.11 per unit.
Inox Wind: Promoter Inox Wind Energy sold 13.85 lakh shares (0.62%) at Rs 105.22 per share.
Welspun Specialty Solutions: Remi Finance and Investments sold 1.51 crore shares (2.85%) at Rs 13.86 per share. Hanuman Freight and Carriers bought 1.51 crore shares (2.85%) at Rs 13.86 per share.
RPSG Ventures: Promoter STEL Holdings bought 1.84 lakh shares (0.70%) at Rs 979.15 per share.
Axis Bank: Promoter General Insurance Corporation of India sold 60,000 shares on September 14.
Alkyl Amines Chemicals: Promoter Yogesh Kothari sold 1.29 lakh shares between September 13-14.
Brigade Enterprises: Promoter MR Gurumurthy sold 30,000 shares between September 13-14.
Delphi World Money: Promoter Ebixcash World Money sold 3,400 shares between September 13-14.
Jindal Stainless (Hisar): Promoter JSL Overseas bought 78,250 shares on September 13.
Meghmani Organics: Promoter Ankit Patel bought 40,000 shares on September 13.
NCL Industries: Promoter PS Raju sold 10,000 shares on September 15.
NRB Bearings: Promoter Harshbeena Zaveri bought 26,701 shares between September 9-14.
Who’s Meeting Whom
Escorts: To meet T Rowe Price on September 16 and Nine River Capital on September 17.
Phillips Carbon Black: To meet institutional investors on September 16.
Puravankara: To meet Motilal Oswal Financial Services on September 16.
Rolex Rings: To meet Dolat Capital Market on September 16.
Ex-Date AGM: BPCL, LIC Housing Finance, Indraprastha Gas, Oil India, BEML, TD Power Systems, Texmaco Infrastructure & Holdings, Vardhman Textiles, Jain Irrigation Systems, Panacea Biotec, NHPC, Pearl Global Industries, Monte Carlo Fashions, Paisalo Digital, BLS International Services, Pitti Engineering, NACL Industries, Shree Pushkar Chemicals & Fertilisers, Ircon International, Steel Exchange India, Kellton Tech Solutions, Dhani Services, Vishwaraj Sugar Industries, Somany Home Innovation, NRB Bearing, Ahluwalia Contracts (India), Suzlon Energy, Petronet LNG, Ramkrishna Forgings, The Phoenix Mills, KRBL, La Opala RG, Vardhman Holdings, Finolex Cables, GIC Housing Finance, Arshiya, Sangam (India), India Glycols, Jain Irrigation Systems, Summit Securities, Texmaco Rail & Engineering, ADF Foods, Bodal Chemicals, Filatex India, Poly Medicure
Ex-Date Final Dividend: BPCL, BEML, REC, ADF Foods, Aegis Logistics, BLS International Services, Bodal Chemicals, Capital India Finance, Excel Industries, Finolex Cables, Housing & Urban Development Corporation, Indraprastha Gas, India Glycols, Ircon International, Kellton Tech Solutions, KRBL, La Opala RG, Medicamen Biotech, NACL Industries, Neogen Chemicals, NHPC, NRB Bearings, Oil India, Paisalo Digital, The Phoenix Mills, Somany Home Innovation, TD Power Systems, Vishwaraj Sugar Industries, Wabco India
Ex-Date Dividend: LIC Housing Finance, Andhra Petrochemicals, GIC Housing Finance, Globus Spirits, HBL Power Systems, Lincoln Pharmaceuticals, Monte Carlo Fashions, Nahar Polyfilms, Nahar Spinning Mills, Poly Medicure, Sangam (India), Shree Pushkar Chemicals & Fertilisers, Shri Jagdamba Polymers, Texmaco Infrastructure & Holdings, Texmaco Rail & Engineering, Vardhman Holdings, Vardhman Textiles
Ex-Date Special Dividend: BPCL
Ex-Date Rights Issue: Kesoram Industries
Ex-Date Bonus Issue: Apollo Tricoat Tubes, APL Apollo Tubes
Record Date Final Dividend: Amrutanjan Health Care, Anupam Rasayan India, Infibeam Avenues, Zensar Technologies
Record Date Dividend: Andhra Sugars
Price Band Revised From 10% To 5%: Ganesh Housing Corporation
Move Into Short-Term ASM Framework: Hatsun Agro Product, Gayatri Projects, DB Realty,
Move Out Of Short-Term ASM Framework: Repro India, Tinplate Company of India
Move Into ASM Framework: Isgec Heavy Engineering
Money Market Update
The rupee ended at 73.49 against the U.S. Dollar on Wednesday as compared to Tuesday's closing of 73.68.
Nifty September futures ended at 17,535.10, a premium of 15.65 points
Nifty September futures added 3.88%. and 11,331 shares in Open Interest
Nifty Bank September futures ended at 36,972, a premium of 119.75 points
Nifty Bank September futures shed 2.45%, and 1,778 shares in Open Interest
Securities that continue to be on the ban list: Canara, Exide Industries, Escorts, Vodafone Idea, IRCTC, Sun TV, LIC Housing Finance, National Aluminium Company
Securities added to the ban list: Zee Entertainment