All You Need To Know Going Into Trade On September 28
Asia stocks fell on Tuesday after a jump in Treasury yields as investors priced in the start of Federal Reserve tapering and elevated energy prices. The dollar edged up.
MSCI Inc.’s index of Asia Pacific stocks snapped a three-day advance, with Japan and Australia sliding. Hong Kong opened firmer, while China slipped. U.S. futures declined. Earlier, the tech-heavy Nasdaq 100 underperformed. Investors rotated out of growth stocks as the benchmark 10-year U.S. yield briefly topped 1.5% -- a level not seen since June. The S&P 500 dipped.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, rose 0.10% to 17,872.52 as of 7:30 a.m.
The U.S. two-year yield hit an 18-month high as traders increasingly priced in the prospect of the Fed trimming its $120 billion in monthly asset purchases soon. The 10-year yield pared gains. The dollar edged higher.
Oil held onto gains on fears of a global energy crunch. Brent was near the highest in almost three years, while WTI crude hovered above $75 a barrel. Goldman Sachs Group Inc. said Brent could hit $90 by year-end as the market is in a bigger deficit than many realize.
Elsewhere, Bitcoin swung between $42,000 and $43,000 after cryptocurrencies made a swift comeback from the turbulence last week triggered by China’s latest crackdown.
Stocks To Watch
BPCL: Plans invest Rs 1 lakh crore over next 5 years in raising petrochemical production capacity, gas business, clean fuel, and augmenting marketing infrastructure, Chairman Arun Kumar Singh said during a conference. The company is also looking to create a 1,000 MW portfolio of renewable power generation capacity, mostly through acquisitions while also invest in biofuels and hydrogen, he added. The company plans to shut Bina plant for work next year; expects Mumbai plant to restart in first half of October. Divestment is expected by March.
Allcargo Logistics: The company is considering selling a stake in its container shipping firm ECU Worldwide, according to a Bloomberg report. The company is working with an adviser on the sale of the stake. Allcargo is seeking a deal that would value ECU at about $1 billion.
RIL: The company is in talks to buy a stake in Glance InMobi Pte, according to a Bloomberg report. RIL is considering investing about $300 million in the unicorn backed by Alphabet Inc.’s Google.
Adani Enterprises: Adani Airport Holdings, a wholly owned subsidiary of the company, has signed share subscription agreement with April Moon Retail and its existing shareholders--Arjun Ahuja, Karan Ahuja, Aliya Ahuja and Kabir Ahuja--for the purpose of strategic partnership to operate duty free outlets in airports. Adani Airport Holdings to own 74% of April Moon Retail.
Paisalo Digital: State Bank of India has signed a Service Level Agreement with the company, National Corporate Business Correspondent of the Bank, for promoting financial inclusion by providing banking services through kiosks.
RBL Bank: RBI has imposed Rs 2 crore penalty on the bank for contravention of norms on maintaining deposits and guidelines governing appointment of directors on board. RBL Bank had opened five savings deposit accounts in the name of a cooperative bank, RBI said. Report for inspection of supervisory evaluation for FY19 revealed non-compliance.
HDFC: Seeks to raise up to Rs 6000 crore via issue of secured NCDs private placement.
NTPC: The company has won 1.9 GW solar projects under CPSU scheme.
Websol Energy System: The Websol Module has been approved by the Government of India under the list of Approved Module Manufacturer. The company has also received approval of its module from BIS and IEC61215. The ALMM list and BIS certification has made Websol modules eligible to be sold in the domestic market for the project approved under the various schemes of the government.
Raymond: Approves consolidation of the tools & hardware and auto components businesses into unit JK Files and real estate business wholly-owned unit
IndiGo cut to Neutral at Goldman; price target Rs 1,950
Paradeep Phosphates has received SEBI's approval for an initial public offering.
Godavari Biorefineries seeks regulatory approval for IPO
CMR Green Technologies seeks approval for IPO
AGMs: NTPC (10:30 a.m.); Bharat Electronics (10 a.m.); Petronet LNG (3 p.m.); Steel Authority of India (10:30 a.m.); Indraprastha Gas (11:30 a.m.); Mahanagar Gas (11 a.m.); Gujarat State Petronet (3 p.m.); Gujarat Gas (12 p.m.); Mastek (5 p.m.); PVR (11 a.m.); Future Retail (11 a.m.); Vardhman Textiles (3 p.m.); Zensar Technologies (3 p.m.); Kajaria Ceramics (3 p.m.)
Pledge Share Details
Sun Pharmaceutical Industries: Promoter Shanghvi Finance created a pledge of 27.50 lakh shares on September 23.
Sanghi Industries: Promoters (Alok Sanghi and Aditya Sanghi) created a pledge of 78.66 lakh shares on September 25. Promoter Ravi Sanghi HUF revoked pledge of 78.66 lakh shares on September 22.
As reported on September 27.
PSP Projects: Abakkus Emerging Opportunities Fund-1 bought 4.45 lakh shares (1.24%) at Rs 425.68 per share. Bellwether Capital sold 3.34 lakh shares (0.93%) at Rs 490.53 per share.
Greenlam Industries: Promoter Saurabh Mittal sold 2.41 lakh shares (1%) at Rs 1,400 per share. Hydra Trading bought 2.41 lakh shares (1%) at Rs 1,400 per share.
Inox Wind: Promoter Inox Chemicals LLP sold 1 crore shares (4.51%) at Rs 101.70 per share. Promoter Siddho Mal Trading LLP sold 97.66 lakh shares (4.40%) at Rs 101.70 per share. Promoter Siddhapavan Trading LLP bought 1 crore shares (4.51%) at Rs 101.70 per share. Devansh Trademart LLP bought 97.66 lakh shares (4.40%) at Rs 101.70 per share.
Aegis Logistics: Promoter Trans Asia Petroleum Inc. bought 50,000 shares on September 23.
Alkyl Amines Chemicals: Promoter Yogesh Kothari sold 3,877 shares on September 24.
Brigade Enterprises: Promoter MR Shivram (HUF) sold 12,000 shares on September 23.
Glenmark Pharmaceuticals: Promoter Glenn Saldanha bought 9,800 shares on September 24.
Greenlam Industries: Promoter Saurabh Mittal sold 2.41 lakh shares on September 27.
NRB Bearings: Promoter Harshbeena Zaveri bought 71,891 shares between September 21-24.
Rajapalayam Mills: Promoter PV Nirmala Raju bought 25,130 shares on September 24.
GMR Infrastructure: Promoter GMR Enterprises sold 5.75 crore shares (0.95%) at Rs 36.3 per share. Hyderabad Jabilli Properties bought 5.75 crore shares (0.95%) at Rs 36.3 per share.
Ex-Date AGM: BF Investment
Ex-Date Final Dividend: Bajaj Healthcare
Ex-Date Interim Dividend: Bajaj Holdings & Investment
Ex-Date Special Dividend: Bajaj Healthcare
Ex-Date Stock Split: Bajaj Healthcare
Record Date Stock Split: Indo Borax
Record Date Rights Issue: Bharti Airtel
Record Date Interim Dividend: Cosmo Films
Price Band Revised From 10% To 5%: Acrysil, Marathon Nextgen Realty
Move Out Of Short-Term ASM Framework: Yes Bank
Money Market Update
The rupee ended at 73.84 against the U.S. Dollar on Monday as compared to Friday's closing of 73.69.
Nifty September futures ended at 17,862, a premium of 6.9 points
Nifty September futures shed 8.61% and 20,764 shares in Open Interest
Nifty Bank September futures ended at 38,227.05, a premium of 55.8 points
Nifty Bank September futures shed 10.36%, and 6,518 shares in Open Interest