All You Need To Know Going Into Trade On September 22
Asian stocks and U.S. futures fell Wednesday as traders assess the debt crisis at China Evergrande Group and gird for a Federal Reserve meeting that is expected to signal a reduction in stimulus later this year.
Equities in Japan and Australia retreated. China resumes trading later in the morning after a two-day holiday, while Hong Kong is shut. S&P 500 and Nasdaq 100 contracts declined after dip-buying waned in the U.S. session, leaving the broader U.S. benchmark gauge little changed.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance fell 0.44% to 17,485, as of 6:40 a.m.
Evergrande, which has more than $300 billion of liabilities, missed some interest payments due Monday and investors are seeking clues about how Beijing plans to deal with the cash crunch. The Chinese central bank’s daily open-market operations may hint at whether officials are aiming to avert systemic stress.
Treasuries were steady ahead of Wednesday’s Fed meeting. A strong auction of 20-year debt highlighted cautious sentiment and demand for less risky investments. The dollar was little changed. Elsewhere, Bitcoin slid below $40,000 for the first time since early August before rebounding.
Oil edged up for a second day, while iron ore futures took a breather following Monday’s rout, though stayed below $100 a ton on China’s steel output curbs. South Korea’s markets are closed for a holiday.
Prime Minister Narendra Modi will leave for the U.S. Wednesday, with a delegation that includes External Affairs Minister S. Jaishankar, National Security Advisor Ajit Doval and Foreign Secretary Harsh Vardhan Shringla among others
RBI will auction Rs 17,000 crore of T-bills; Hindustan Copper, IDFC, Inox Leisure among companies to hold annual shareholders’ meeting; Road Transport Minister Nitin Gadkari and Commerce Minister Piyush Goyal to speak.
Stocks To Watch
Torrent Power to acquire Surya Vidyut at Enterprise Value of Rs 790 crore. The company has entered into a Share Purchase Agreement with CESC, Haldia Energy and other nominal shareholders for the acquisition of 100% of the share capital of Surya Vidyut, a wholly owned subsidiary of CESC. The acquisition is expected to be completed within 60 days. Surya Vidyut operates 156 MW Wind power plants, spread across the states of Gujarat, Rajasthan and Madhya Pradesh.
KEC International: The company has secured new orders of Rs 1,157 crore across its various businesses.
Infosys: The company has collaborated with ServiceNow, a digital workflow company, to provide enterprise-level service management for customers in manufacturing industries. Infosys will leverage its industry cloud blueprints, part of Infosys Cobalt, and deploy ServiceNow Operations Technology Management, to support manufacturing industries as they digitise their factories, floors, and plant operations.
Vikas Lifecare: The company’s Agro Products division has received the largest single export order to date, amounting $1 million.
Surya Roshni: The company has received order of Rs 41.22 crore for implementing of smart LED streetlights and installation of centralised monitoring system with operation and maintenance for 7 years from Greater Noida Industrial Development Authority.
Bhansali Engineering Polymers: The company has received environmental clearance from the government for expansion of High Rubber Graft (Rubber Rich ABS) unit from 15,000 TPA to 50,000 TPA for company's Satnoor Plant located at Chhindwara in Madhya Pradesh.
PDS Multinational Fashions: Smart Notch Industrial, a subsidiary of the company, has completed the acquisition Filkor on September 21 for £500,000. The investment is in line with the Sustainability and Circularity goals of the company.
MTAR Technologies: The company has received NADCAP certification for its 100% Export Orient Unit and Unit 5 in Telangana.
Nucleus Software Exports: Board will consider buyback of shares on September 24.
AGMs: Hindustan Copper (11 a.m.); IDFC (11 a.m.); INOX Leisure (12 p.m.); Jubilant Ingrevia (3 p.m.); Jubilant Pharmova (11 a.m.); Arvind SmartSpaces (11 a.m.); Coffee Day Enterprises (11 a.m.); New Delhi Television (3 p.m.); West Coast Paper (11:30 a.m.); Panasonic Energy India (11 a.m.); Fertilizers and Chemicals (11 a.m.); Finolex Industries (4 p.m.); Gati (3 p.m.); ITD Cementation (3 p.m.)
Paras Defence $23 million India IPO subscribed 16.6 times on first day sale, offer close Sept. 23
India’s Puranik Builders seeks SEBI approval for IPO
Pledge Share Details
Chambal Fertilisers & Chemicals: Promoter Zuari Global revoked pledge of 8.70 lakh shares between September 16-17.
Mangalore Chemicals & Fertilizers: Promoter Zuari Agro Chemicals created a pledge of 45 lakh shares on September 17.
As reported on September 21.
SBI Cards & Payment Services: Societe Generale bought 85.06 lakh shares (0.90%) at Rs 1,021 per share. CA Rover Holdings sold 1.60 crore shares (1.70%) at Rs 1,021.25 per share and sold another 1.60 crore shares (1.70%) at Rs 1,021.01 per share.
Inox Wind Energy: Promoter Vivek Jain bought 4.97 lakh shares (4.53%) at Rs 647.10 per share. Siddho Mal Trading LLP sold 2.01 lakh shares (1.84%) at Rs 647.10 per share. Inox Chemicals LLP sold 2.95 lakh shares (2.69%) at Rs 647.10 per share.
Welspun Enterprises: Welspun Group Master Trust bought 7.50 lakh shares (0.50%) at Rs 103.36 per share.
Axis Bank: Promoter General Insurance Corporation of India sold 70,000 shares on September 17.
Aegis Logistics: Promoter Trans Asia Petroleum Inc. bought 71,702 shares on September 17.
Grauer & Weil (India): Promoter Vinod Haritwal sold 19,880 shares between August 16-September 15.
Heranba Industries: Promoter SAMS Industries bought 2.48 lakh shares between September 17-20.
Jindal Stainless (Hisar): Promoter JSL Overseas bought 64,506 shares on September 17.
Lincoln Pharmaceuticals: Promoters (Mahendrabhai Patel and Munjal Patel bought 74,500 shares between September 20-21.
NRB Bearings: Promoter Harshbeena Zaveri bought 32,081 shares between September 17-20.
RPSG Ventures: Promoter STEL Holdings bought 68,313 shares on September 20.
Titagarh Wagons: Promoter Titagarh Logistics Infrastructures bought 1.75 lakh shares between September 16-17.
Vaibhav Global: Promoter Brett Enterprises bought 3.05 lakh shares between September 17-20. Promoter Nirmal Bardiya sold 1.52 lakh shares between September 17-20.
Who’s Meeting Whom
Rajratan Global Wire: To meet White Oak Capital and Ambit Capital on September 22 and Carnelian Capital on September 23.
Syngene International: To meet Aikya Investment Management on September 22.
Vedanta: To attend JP Morgan India Investor Summit on September 22.
CARE Ratings: To meet Kotak Mutual Fund on September 23.
Ex-Date AGM: Stylam Industries, Maithan Alloys, Cerebra Integrated Technologies, Hindustan Aeronautics, Inox Wind, Power Mech Projects, Dilip Buildcon, Satia Industries, Confidence Petroleum India, Borosil Renewables, Inox Wind Energy, Dolat Investments, Digispice Technologies, SVP Global Ventures, Steel Strips Wheels, Sunteck Realty, Technocraft Industries (India), SMS Pharmaceuticals, Omaxe, Kaveri Seed Company, VLS Finance, Datamatics Global Services, Jaiprakash Associates, NBCC (India), Anant Raj, JBM Auto, Prime Focus, Responsive Industries, HFCL
Ex-Date Final Dividend: Anant Raj, Confidence Petroleum India, Dilip Buildcon, JBM Auto, Jindal Poly Films, Mold-Tek Packaging, NBCC (India), Responsive Industries, Satia Industries, SMS Pharmaceuticals, Steel Strips Wheels, Sunteck Realty, SVP Global Ventures, VLS Finance
Ex-Date Dividend: HFCL, Maithan Alloys, Rico Auto Industries, Voltamp Transformers
Record Date Final Dividend: RailTel Corporation of India, Mishra Dhatu Nigam, KNR Constructions, Ashapura Minechem
Record Date Dividend: Dalmia Bharat, IRCTC
Price Band Revised From 20% To 10%: Seamec
Move Into ASM Framework: RPSG VENTURES, Alkyl Amines Chemicals
Move Out Of Short-Term ASM Framework: Jain Irrigation Systems, Caplin Point Laboratories, Dish TV India, RPSG Ventures
Money Market Update
The rupee ended at 73.61 against the U.S. Dollar on Tuesday as compared to Monday's closing of 73.74.
Nifty September futures ended at 17,562.05, a premium of 0.05 points
Nifty September futures shed 5.45% and 14,814 shares in Open Interest
Nifty Bank September futures ended at 37,414.90, a premium of 179.05 points
Nifty Bank September futures shed 1%, and 789 shares in Open Interest
Securities that continue to be on the ban list: Indiabulls Housing Finance, Vodafone Idea, IRCTC, Punjab National Bank, Sun TV
Securities removed from the ban list: Exide Industries, National Aluminium Company, SAIL