All You Need To Know Going Into Trade On September 27
Asian stocks edged up at the open Monday with traders keeping an eye on China Evergrande Group’s debt crisis and after Treasury yields jumped. The euro was steady amid a close German election.
Shares had modest gains in Japan, where the ruling coalition chooses a new leader this week who will probably be the next prime minister. Australia also rose, while South Korea was little changed. U.S. futures advanced. The Nasdaq Golden Dragon China Index -- which tracks some of the Asian nation’s largest firms listed in the U.S. -- sank Friday. The S&P 500 edged up to eke out a weekly gain.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, rose 0.26% to 17,908, as of 6:45 a.m.
Investors are also be watching bond yields. Ten-year Treasury yields broke through the top of a range that’s held since mid-July, surpassing 1.40% after hawkish messages last week from the Federal Reserve and the Bank of England. The dollar slipped.
The euro pared an earlier gain versus the dollar as the German election failed to produce a clear winner, raising investor concerns of a prolonged decision on the leadership of Europe’s biggest economy. Olaf Scholz of the Social Democrats inched ahead of Chancellor Angela Merkel’s conservatives.
Bitcoin was stable around $43,000. Digital currencies plunged Friday as China intensified its push to rein in crypto speculation and mining, but recovered much of the drop over the weekend.
Stocks To Watch
Alembic Pharmaceuticals: Almirall sues Aleor to block copies of Aczone acne treatment
Balkrishna Industries: To raise Rs 1,000 crore via long term finance
NBCC (India): The company has secured an order for construction of 2,000 social housing at Hulhumale, Maldives on EPC basis. The total cost of the project is $130 million (approximately Rs 968.50 crore)
United Breweries: The Competition Commission of India has imposed a penalty of Rs 751.83 crore on the company for anti-competitive conduct in the beer market in India.
SJVN: The company has bagged a 1000 MW solar power project through Request for Proposal floated by Indian Renewable Energy Development Agency. The tentative cost of construction and development of this project is Rs 5,500 crore.
Indiabulls Housing Finance: The company has sold a portion of its stake in OakNorth Holdings for approximately Rs 251 crore.
Nucleus Software Exports: Approved buyback of 22.67 lakh equity shares, comprising of 7.81% of the total paid-up equity capital of the company, at Rs 700 each for an aggregate amount of Rs 158.71 crore.
Dalmia Bharat: Dalmia Cement (Bharat), a subsidiary of the company, has commenced commercial production of Line 2, having a capacity of 2.25 million tonnes at its Kapilas Cement Manufacturing Works Unit near Cuttack, Odisha. With this addition, the company’s overall capacity at the plant has gone up to 3.95 MT per annum.
Hindustan Copper: Government to offer up to 31.98 lakh equity shares of face value of Rs 5 each to the eligible employees of the company at Rs 116 per equity share.
Orient Cement: The company has identified land admeasuring approximately 35 acres in Maharashtra, for establishing a Cement Grinding Unit. In this regard, Orient Cement has entered into a non-binding MoU with Adani Power Maharashtra, the lawful lessee, for facilitating bona fide use of the land for setting up CGU.
Container Corporation of India: Extended the tenure of V Kalyana Rama, Chairman and Managing Director of the company, till September 30, 2023.
EKI Energy Services: The company has opened three new international business points in Thailand, Jordon, and Indonesia, to meet the growing demand of services related to carbon credits. With this, the company now has presence in 12 countries.
Power Grid Corp: Seeks to raise funds up to Rs 6,000 crore
AGMs: Bharat Petroleum Corp. (10:30 a.m.), LIC Housing Finance (3 p.m.); Network18 Media (12 p.m.); TV18 Broadcast (10:30 a.m.); Dish TV (11 a.m.); Gujarat State Fertilizers (3:30 p.m.); GIC Housing (11:30 a.m.); Prestige Estates (12 p.m.); Bharat Dynamics (3 p.m.)
Kesoram Industries’ rights issue open from Sept. 27 to Oct. 11
IIFL Finance public issue of NCDs up to Rs 1,000 crore open for sale Sept. 27, offer close Oct. 18
JM Financial public issue of NCDs up to Rs 500 crore gets 2.79% demand on first day sale, offer close Oct. 14
HCL Tech rated new Outperform at IDFC Securities
Infosys rated new Outperform at IDFC Securities; price target Rs 2,040
L&T Infotech rated new Neutral at IDFC Securities
Lupin raised to Neutral at Macquarie; price target Rs 1,006
Mphasis cut to Neutral at Goldman; price target Rs 3,014
Mphasis rated new Outperform at IDFC Securities; price target Rs 3,800
Mindtree cut to Sell at Goldman; price target Rs 3,699
Mindtree rated new Neutral at IDFC Securities; price target Rs 4,530
Tata Consultancy rated new Neutral at IDFC Securities
Tech Mahindra rated new Outperform at IDFC Securities
Wipro rated new Neutral at IDFC Securities; price target Rs 680
Pledge Share Details
Adani Transmission: Promoter Adani Tradeline LLP revoked pledge of 2 lakh shares on September 23.
Adani Ports and SEZ: Promoters (Adani Tradeline LLP, Gautam Adani and Rajesh Adani) revoked pledge of 12.30 lakh shares on September 23.
Johnson Controls-Hitachi Air Conditioning India: Promoter JCHAC India Holdco created a pledge of 65.25 lakh shares on May 28.
Max Financial Services: Promoter Max Ventures Investment Holdings revoked pledge of 2.45 lakh shares on September 22.
As reported on September 24.
JTL Infra: Dugar Growth Fund bought 1 lakh shares (0.94%) at Rs 862 per share. Promoter Jagan Industries sold 2.38 lakh shares (2.25%) at Rs 862.79 per share. Blooming Portfolio Services LLP bought 78,229 shares (0.74%) at Rs 862.76 per share and sold 76,429 (0.72%) at Rs 875.70 per share.
Sansera Engineering: Nomura Funds Ireland bought 6 lakh shares at Rs 820.1 per share. Plutus Wealth Management LLP bought 5 lakh shares at Rs 811.5 per share. IIFL Mutual Fund bought 4.70 lakh shares at Rs 820.09 per share. IIFL Asset Management bought 3.97 lakh shares at Rs 818.01 per share. Abu Dhabi Investment Authority bought 4.87 lakh shares at Rs 821.48 per share.
Andhra Cements: Topgain Finance bought 15.17 lakh shares (0.52%) at Rs 17.15 per share.
Aegis Logistics: Promoter Trans Asia Petroleum Inc. bought 50,000 shares on September 22.
Alkyl Amines Chemicals: Promoter Yogesh Kothari sold 7,186 shares between September 22-23.
Gujarat Fluorochemicals: Promoter Inox Chemicals LLP sold 41,552 shares on September 23.
Karda Constructions: Promoters (Neha Karda and Komal Karda) sold 38 lakh shares between September 22-23.
Man Infraconstruction: Promoter Mansi Shah bought 1.70 lakh shares on September 23.
Mayur Uniquoters: Promoters (Suresh Kumar Poddar & Sons HUF and Kiran Poddar) sold 5 lakh shares on September 23.
Sequent Scientific: Promoter Chayadeep Ventures LLP sold 1.05 lakh shares between September 22-23.
Who’s Meeting Whom
Tata Motors: To meet SBI Life Insurance and Jet Age Securities on September 27, Thornburg Investment Management on September 28, and East Bridge Advisors on September 30.
Manappuram Finance: To meet Point72 on September 27.
Gulshan Polyols: To meet UTI AMC on September 27 and HDFC MF on September 28.
Ex-Date AGM: Star Cement, BF Utilities
Ex-Date Rights Issue: Bharti Airtel
Ex-Date Interim Dividend: Cosmo Films
Ex-Date Stock Split: Indo Borax & Chemicals
Record Date Final Dividend: Rangoli Tradecomm
Record Date Stock Split: KPR Mill
Price Band Revised From 10% To 5%: V2 Retail
Move Out Of Short-Term ASM Framework: Zensar Technologies, Filatex India, Zee Learn,
Move Out Of ASM Framework: Reliance Communications, VA Tech Wabag, Reliance Industrial Infrastructure, Panacea Biotec, Nectar Lifesciences, Venky's (India)
Money Market Update
The rupee ended at 73.69 against the U.S. Dollar on Friday as compared to Thursday's closing of 73.64.
Nifty September futures ended at 17,848.80, a discount of 4.4 points
Nifty September futures shed 2.06% and 5,067 shares in Open Interest
Nifty Bank September futures ended at 37,815.05, a discount of 15.25 points
Nifty Bank September futures shed 8.79%, and 6,067 shares in Open Interest
Securities that continue to be on the ban list: Canara Bank, Escorts, Indiabulls Housing Finance, Vodafone Idea, IRCTC, Punjab National Bank
Securities added to the ban list: SAIL, Zee Entertainment