All You Need To Know Going Into Trade On September 23
Stocks rose in Australia and dipped in South Korea. Japan is shut for a holiday and Hong Kong will reopen from one. U.S. futures climbed after the S&P 500 pushed higher for the first time in five sessions and the Nasdaq 100 advanced.
Fed Chair Jerome Powell said the central bank could begin scaling back asset purchases in November and complete the process by mid-2022. Officials also revealed a growing inclination to raise interest rates next year. Shorter-maturity Treasury notes fell while longer-maturity debt edged higher. The dollar rose. Cash Treasuries won’t trade in Asia because of the Japan holiday.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, rose 0.56% to 17,649.00, as of 7:00 a.m.
Traders are continuing to monitor the debt crisis at China Evergrande Group. Some investor concerns appear to have eased though questions remain after the developer -- which is straining under more than $300 billion of liabilities -- issued a vaguely worded statement on a local bond interest payment. The focus has shifted to a payment due on a dollar note.
Elsewhere, oil pared a rally, gold held a retreat and Bitcoin traded above $43,000.
Stocks To Watch
Adani Ports and SEZ: The company has acquired a 10.4% stake of Gangavaram Port from the government of Andhra Pradesh for Rs 645 crore. Both boards have also approved the merger of Adani Ports and Gangavaram Port at a swap ratio of 159:1,000 shares. The merger has an appointed date of April 1, 2021, and is expected to conclude by March 31, 2022. With this stake purchase, Adani Ports has completed the acquisition of Gangavaram Port for an equity value of Rs 6,200 crore.
Jubilant Ingrevia: Jubilant Life Sciences International Pte., Singapore, a wholly owned subsidiary of the company, has divested its entire 10% stake held in Safe Foods Corporation for $18.2 million (approximately Rs 132.4 crore ).
Piramal Enterprises: To consider issue of secured NCDs up to Rs 200 crore along with an option to retain oversubscription up to Rs 200 crore, the total size aggregating up to Rs 400 crore on private placement basis, on September 27.
Amtek Auto: The company’s shares will be delisted from exchanges from September 27. Insolvency Professional of the company has appointed Ram Singh Poswal as CEO of the company.
Infosys: The company has collaborated with Amazon Web Services to develop quantum computing capabilities and use cases. Infosys will use Amazon Braket to explore and build multiple use cases in quantum computing as part of Infosys Cobalt cloud offerings.
IDFC: Shareholders voted against a resolution to appoint Vinod Rai as non-independent, non-executive director on the company's board. At the AGM, 62.3% of the shareholders voted against the proposal, with only 37.7% in favour. Rai is currently the non-executive chairman of IDFC and his term as an independent director ended on July 30.
Sarda Energy & Minerals: Chhattisgarh State Electricity Regulatory Commission has approved a provisional tariff for the 113 MW hydropower project of subsidiary Madhya Bharat Power Corporation, considering 85% of the cost of the project incurred as of March 2021 with return on equity of 15.5% per annum.
Paras Defence IPO subscribed over 40 times on day 2.
Pledge Share Details
Adani Ports and SEZ: Promoter group (Gautam Adani and Rajesh Adani) revoked pledge of 10 lakh shares on September 21.
Adani Transmission: Promoter group (Gautam Adani and Rajesh Adani) revoked pledge of 6 lakh shares on September 21.
Ajanta Pharma: Promoter Aayush Agrawal created a pledge of 1.25 lakh shares on September 21.
Sun Pharmaceutical Industries: Promoter Shanghvi Finance created a pledge of 60.60 lakh shares on July 2.
As reported on September 22.
GMR Infrastructure: Promoter GMR Enterprises sold 4.10 crore shares (0.68%) at Rs 35.30 per share.
Ahluwalia Contracts (India): Aditya Birla Sun Life Mutual Fund bought 8.15 lakh shares (1.22%) at Rs 369.5 per share. Promoter Sudershan Walia sold 18 lakh (2.69%) shares at Rs 369.59 per share.
GFL: Promoter Inox Leasing and Finance sold 5.81 crore shares (52.93%) at Rs 70.90 per share. Promoter Nandita Jain bought 65.12 lakh shares (5.93%) at Rs 70.90 per share. Promoter Nayantara Jain bought 68.17 lakh shares (6.21%) at Rs 70.90 per share. Promoter Pavan Jain bought 71.47 lakh shares (6.51%) at Rs 70.90 per share. Promoter Vivek Jain bought 83.44 lakh shares (7.60%) at Rs 70.90 per share. Promoter Devansh Jain bought 1.45 crore shares (13.24%) at Rs 70.90 per share. Promoter Siddharth Jain bought 1.47 crore shares (13.46%) at Rs 70.90 per share.
Kabra Extrusiontechnik: Promoter Kolsite Industries bought 77,000 shares between September 17-20.
Karda Constructions: Promoters (Naresh Karda and Neha Karda) sold 32.50 lakh shares between September 20-21.
Manappuram Finance: Promoter VP Nandakumar bought 5 lakh shares on September 21.
STEL Holdings: Promoters (Secura India Trust and Castor Investments) bought 33,237 shares between September 17-22.
West Coast Paper Mills: Promoter (Veer Enterprises and Shree Satyanarayan Investments Company) bought 33,380 shares between September 20-21.
Usha Martin: Promoter Peterhouse Investments sold 1.50 lakh shares on September 21.
Who’s Meeting Whom
Indian Energy Exchange: To meet Dhando Funds on September 23 and Perpetuity Ventures on September 27.
GE Power India: To meet Nippon Life India Trustee on September 23.
Themis Medicare: To meet Kotak PMS on September 23.
Gujarat Themis Biosyn: To meet Kotak PMS on September 23.
Gulshan Polyols: To meet Abakkus Asset Managers on September 23.
HPL Electric & Power: To meet River Valley Asset Management on September 23.
Timex Group India: To meet meet Consortium Securities, Astute Investment Management, and Artha Ventures on September 23.
Tata Consumer Products: To meet Equirus Securities on September 24.
Greaves Cotton: To meet SBI MF on September 28.
GMM Pfaudler: To meet Kotak Securities on September 29.
Ex-Date AGM: Natco Pharma, NMDC, DB Corp, GOCL Corporation, AYM Syntex, Securekloud Technologies, Indiabulls Real Estate
Price Band Revised From 10% To 5%: Happiest Minds Technologies, New Delhi Television
Ex-Date Stock Split: Artemis Medicare Services
Ex-Date EGM: CarTrade Tech
Ex-Date Final Dividend: DB Corp, GOCL Corporation, Jindal Worldwide, Mangalam Organics, Mastek, National Aluminium Co
Ex-Date Bonus Issue: Sportking India
Record Date Final Dividend: SVP Global Ventures, NBCC (India)
Record Date Dividend: Mold-Tek Packaging
Move Out Of Short-Term ASM Framework: Reliance Capital, Cantabil Retail India
Move Into ASM Framework: Reliance Infrastructure
Money Market Update
The rupee ended at 73.86 against the U.S. Dollar on Wednesday as compared to Tuesday's closing of 73.61.
Nifty September futures ended at 17,567, a premium of 20.35 points
Nifty September futures shed 1.41% and 3,630 shares in Open Interest
Nifty Bank September futures ended at 37,101.15, a premium of 156.5 points
Nifty Bank September futures added 3.51%, and 2,736 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 added to the ban list: Escorts