All You Need To Know Going Into Trade On September 3

Asian stocks rose Friday and the dollar held a drop after cyclicals led Wall Street to a record high ahead of a U.S. jobs report that will shape views on the outlook for Federal Reserve monetary policy.

MSCI Inc.’s Asia-Pacific gauge climbed for a sixth day, the longest streak since January, as equities advanced in Japan, Australia and South Korea. U.S. futures fluctuated after energy shares helped the S&P 500 to a new peak. The U.S. 10-year Treasury yield edged up.

The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, was little changed at 17,263 as of 7:20 a.m.

The U.S. payrolls report is another potential test of the prevailing calm in financial markets, which so far have weathered risks to economic reopening from coronavirus variants and the prospect of less expansive monetary policy. Goldman Sachs Group Inc. strategists said concerns about economic expansion are overdone, pointing to possible gains in cyclical assets in the near future.

Crude oil was near $70 a barrel on bets that the market can absorb additional supply from OPEC+ as the U.S. Gulf grapples with Hurricane Ida’s impact.

• 10:30am: Markit India PMI Services for August, prior 45.4

• 10:30am: Markit India PMI Composite for August, prior 49.2

Stocks To Watch

• Reliance Industries Ltd: Reliance Retail Ventures has acquired sole control of Just Dial. Just Dial on September 1 allotted 2.12 crore equity shares at a price of Rs 1,022.25 per equity share to Reliance Retail, representing 25.35% of Just Dial’s paid-up share capital. Move follows acquisition of 1.31 crore shares, representing 15.63% of Just Dial shares on July 20. Reliance Retail now holds 40.98% in Just Dial.

• Granules India: The company has received licence from Defence Research & Development Organisation, Ministry of Defence, to manufacture and market 2-Deoxy-D-Glucose. Developed by DRDO, 2-DG has been granted permission by Drug Controller General of India for emergency use as adjunct therapy in moderate to severe Covid-19 patients.

• IRB Infrastructure Developers: The company has emerged as a preferred bidder for the construction of six lanes of 20.060 kms, Pondavakkam to Kannigaipair stretch, on the upcoming Chittoor – Thachur Highway in Tamil Nadu at the cost outlay of Rs 909 crore. The company bid Rs 844.14 crore for the highway project. The construction is expected to be completed in 730 days.

• RailTel Corporation of India: The company has received a contract from Directorate of Information Technology, Indian Air Force for implementation of secure OPS Network for value of Rs 299.95 crore. The work is expected to be completed over a period of 12 months.

• Jammu & Kashmir Bank: Approved raising of equity share capital up to Rs 1000 crore in one or more tranches by way of rights issue/peferential allotment/private placement/QIP or any other approved mode. The bank also approved raising up to Rs 1000 crore via bonds.

• OnMobile Global: A branch of the company in Panama has been dissolved effective August 31.

• Rossari Biotech: The company has completed the acquisition of the first tranche of 76% of the total equity share capital (on a fully diluted basis) of Tristar Intermediates on September 1.

• Hindustan Aeronautics: Board to consider sub-division of equity shares on Sept. 21.

• Jain Irrigation: Board meeting on Sept. 7 to consider fund raising plan

• MT Educare (MTEL): Defaults on repayment of interest and principal

• AGMs: PNB Housing Finance (3 p.m.); Macrotech Developers (3:30 p.m.); AlA Engineering (10 a.m.); Multi Commodity Exchange (11:30 a.m.); Edelweiss Financial Services (4 p.m.); Strides Pharma (12:30 p.m.); Kalyani Steels (11 a.m.); Electrosteel Castings (1:30 a.m.); Indo Count Industries (12:30 p.m.)

Offerings

• Joyalukkas India is considering an IPO in India that could raise about $400 million in the first quarter of next year, according to a Bloomberg report. The Kerala-based company has picked Edelweiss Financial Services, Jefferies Group LLP, Credit Suisse Group AG and IIFL securities to arrange the potential share sale. Joyalukkas may file a draft prospectus by end of November or early December.

• Vijaya Diagnostic Centre IPO was subscribed 0.47 times on day 2.

• Ami Organics Ltd.’s Rs 570-crore initial public offering was subscribed 3.90 times on second day.

Pledge Share Details

• Ajanta Pharma: Promoter Ravi Agrawal created a pledge of 6.90 lakh shares on September 1.

• Bafna Pharmaceuticals: Promoters (Mahaveer Bafna, Mahaveer Bafna HUF, Amribai Bafna and Sasikala Bafna) invoked pledge of 2.77 lakh shares on April 13. Promoter Paras Bafna revoked pledge of 41,167 shares on April 13.

• Future Consumer: Promoter Future Capital Investment revoked pledge of 2.53 lakh shares on August 31.

  As reported on Sept 3.

Bulk Deals

• Kaveri Seed Company: The company bought 3.19 lakh shares (0.53%) at Rs 583.78 per share.

Insider Trades

• Gujarat Fluorochemicals: Promoter Inox Chemicals LLP sold 28,783 shares on September 1.

• Inox Wind: Promoter Inox Wind Energy sold 90,175 shares on August 31.

• Karda Constructions: Promoters (Komal Karda and Naresh Karda) sold 41.50 lakh shares between August 31-September 1.

• LG Balakrishnan & Bros: Promoter V Rajvirdhan sold 80,000 shares between August 31-September 1.

• Mangalore Chemicals & Fertilizers: Promoter Adventz Finance bought 50,000 shares between August 30-September 1.

• Pidilite Industries: Promoter Maithili Parekh sold 1.45 lakh shares on September 1.

• RPSG Ventures: Promoter STEL Holdings bought 25,000 shares on September 1.

• Sudarshan Chemical Industries: Promoter Narayandas Rathi sold 1.71 lakh shares between August 31- September 1.

• Spencers Retail: Promoter Castor Investments bought 3.30 lakh shares on August 31.

Who’s Meeting Whom

• UltraTech Cement: To meet Avendus Capital on September 3.

• Adani Ports and SEZ: To meet HSBC Asset Management Company on September 3.

• Syngene International: To meet PGIM MF on September 3.

• Kalyan Jewellers India: To meet Infusive Asset Management and Quantum Advisors on September 3. The company will meet Ashmore Group Plc and Wellington Asset Management on September 6 and Dimensional Securities on September 8.

• Sanghi Industries: To meet Ventura Securities on September 6.

• KEI Industries: To meet Elara Capital (India) on September 8.

Trading Tweaks

• Ex-Date AGM: Motherson Sumi Systems, Balrampur Chini Mills, SP Apparels

• Ex-Date Dividend: Banco Products (India), Bombay Burmah Trading Corp

• Ex-Date Final Dividend: Motherson Sumi Systems, SP Apparels, Yuken India

• Record Date Final Dividend: Coal India, Zee Entertainment Enterprises, Surya Roshni

• Price Band Revised From 20% To 10%: Zen Technologies

• Move Into Short-Term ASM Framework: HLE Glascoat, Meghmani Finechem

• Move Out Of Short-Term ASM Framework: Prime Focus

• Move Into ASM Framework: Steel Strips Wheels

Money Market Update

The rupee ended at 73.06 against the U.S. Dollar on Thursday as compared to Wednesday's closing of 73.08.

• Nifty September futures ended at 17,259.40, a premium of 25.25 points

• Nifty September futures added 4.02%. and 11,451 shares in Open Interest

• Nifty Bank September futures ended at 37,023, a premium of 191.7 points

• Nifty Bank September futures shed 4.06%, and 3,017 shares in Open Interest

• Securities added to the ban list: Indiabulls Housing Finance