All You Need To Know Going Into Trade On September 8

Asian stocks were mixed Wednesday after a dip in U.S. shares on concern that the delta coronavirus variant is slowing the economic recovery from the pandemic.

Japanese shares edged up but Australia and South Korea retreated. U.S. futures fluctuated after the S&P 500 fell and the Nasdaq 100 climbed to a record as investors sought more defensive areas of the market. Chinese technology equities listed in the U.S. jumped on bets that the worst of Beijing’s regulatory crackdown has passed.

The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, rose 0.27% to 17,426.50 as of 7:15 a.m.

A selloff across bond markets has intensified in part due to a flood of debt sales. The 10-year U.S. Treasury yield trimmed an advance but remained above 1.36%. Strategists are now evaluating how long a recent bout of yield-curve steepening might last. The dollar held a rally.

Crude oil steadied after a two-day decline. Bitcoin nursed losses amid El Salvador’s rocky implementation of a law that makes the cryptocurrency legal tender.

Stocks To Watch

• Dr Reddy’s Laboratories: Citius buys Dr Reddy’s license for Oncology Immunotherapy

• Wipro: The company has partnered with Securonix to deliver managed security services. Securonix’s cloud-first SIEM, analytics-driven detection and automated response tools with Wipro’s global reach and cybersecurity intelligence capabilities will provide organizations with improved governance and security threat protection, the company said.

• MAS Financial Services: The company has entered into a strategic co-lending partnership with Bank of India for lending to micro, small and medium enterprises.

• TVS Motor Company: Appointed ETG Logistics as new distributor. ETGL will operate 30 dealerships for TVS Motor in South Africa as part of this partnership.

• EID-Parry (India): To set up 120 KLPD Grain/Sugar Syrup/Molasses based distillery at the company's Sankili unit in Andhra Pradesh. The distillery will cost company Rs 92.50 crore and the work is expected to be completed by November 2022.

• ICRA: Life Insurance Corporation of India sold more than 2.07 lakh equity shares of the company, reducing shareholding to 5.81% from 7.96% earlier.

• National Fertilizers: Appointed Nirlep Singh Rai as Chariman and Managing Director of the company effective September 6.

• PSP Projects: The company is in receipt of Letter of Intent(s) for projects worth Rs 132.57 crore towards industrial and precast segment from different clients in Gujarat.

• Vidhi Specialty Food Ingredients: The company has set up 2 MW Solar Power Plant at Rambhapur in Akola, Maharashtra.

• Setco Automotive: India Resurgence Fund, of Piramal Enterprises and Bain Capital Credit, to invest Rs 615 crore in Setco group

• Earnings to watch: Windlas Biotech

• AGMs: Ashok Leyland (3 p.m.); Can Fin Homes (11 a.m.); India Cements (10 a.m.); KEI Industries (2 p.m.) Tide Water Oil Co. (10:15 a.m.); Advanced Enzyme Technologies (10 a.m.), Century Plyboards (11 a.m.); Galaxy Surfactants (3 p.m.); Indo Tech Transformers (10:30 a.m.)

Offerings

• Cash machine operator India1 Payments seeks approval for IPO

• Apax-owned Healthium Medtech seeks approval for IPO

Pledge Share Details

• Max Financial Services: Promoter Max Ventures Investment Holdings revoked pledge of 2.50 lakh shares on September 3.

  As reported on September 7.

Bulk Deals

• Stove Kraft: HSBC Global Investment Funds bought 5.37 lakh shares (1.65%) at Rs 929.85 per share. Sequoia Capital India Growth Investment Holdings sold 8.05 lakh shares (2.47%) at Rs 932.92 per share.

Block Deals

• Olectra Greentech: Nomura India Investment Fund bought 28.20 lakh shares (3.44%) at Rs 321 per share. Promoter Goldstone Power sold 28.20 lakh shares (3.44%) at Rs 321 per share.

Insider Trades

• Gati: Promoter TCI Finance sold 16,956 shares on September 3.

• Jindal Stainless (Hisar): Promoter JSL Overseas bought 1.25 lakh shares on September 3.

• JB Chemicals & Pharmaceuticals: Promoter Pranabh Mody sold 4,000 shares on September 6.

• Nava Bharat Ventures: Promoter D Ashok bought 75,000 shares between September 3-6.

• Pil Italica Lifestyle: Promoter Dawood Investment sold 46 lakh shares between September 6-7.

• Sequent Scientific: Promoter Aditya Kumar sold 74,627 shares between August 31-September 6.

Who’s Meeting Whom

• UltraTech Cement: To meet American Century Investments and C WorldWide Asset Management on September 8.

• Puravankara: To meet HSBC Securities Capital Markets (India) on September 8 and LIC Mutual Fund on September 9.

• Kalyan Jewellers: To meet Moon Capital Management LP on September 8.

• Nazara Technologies: To meet Steadview Capital on September 9 and GIC on September 15.

Trading Tweaks

• Ex-Date AGM: Power Grid Corporation of India, Glenmark Pharmaceuticals, Gujarat State Fertilizers & Chemicals, IOL Chemicals and Pharmaceuticals, Muthoot Finance, India Nippon Electricals, Uflex, Uttam Sugar Mills, Gokaldas Exports, Mangalam Cement, Jindal Stainless, Nitin Spinners, Themis Medicare, Triveni Engineering & Industries, Ajmera Realty & Infra India, Genus Power Infrastructures, Vadilal Industries, Alicon Castalloy, Gulf Oil Lubricants India, Gulshan Polyols, Music Broadcast, Pilani Investment and Industries Corporation, Garware Technical Fibres, Jindal Stainless (Hisar), Salasar Techno Engineering, PSP Projects, ISGEC Heavy Engineering, IIFL Wealth Management, Rossari Biotech

• Ex-Date Final Dividend: Acrysil, Ajmera Realty & Infra India, Dhanvarsha Finvest, Filatex India, Garware Technical Fibres, Glenmark Pharmaceuticals, Gulf Oil Lubricants India, Gulshan Polyols, IOL Chemicals & Pharmaceuticals, ISGEC Heavy Engineering, MOIL, NTPC, Oil and Natural Gas Corporation, Pilani Investment and Industries Corporation, Power Grid Corporation of India, PSP Projects, PTC India, Rossari Biotech, Sahyadri Industries, Salasar Techno Engineering, Sequent Scientific, Themis Medicare, Triveni Engineering & Industries, TV Today Network

• Ex-Date Dividend: Genus Power Infrastructures, Gujarat State Fertilizers & Chemicals, Gujarat State Petronet, Gujarat Gas, Mangalore Chemicals & Fertilizers, Mangalam Cement, Mukand, Nitin Spinners, Uflex

• Ex-Date Interim Dividend: Vedanta

• Ex-Date Rights Issue: Asian Granito India

• Ex-Date Bonus Issue: Mahindra Holidays & Resorts India

• Record Date Final Dividend: Triveni Turbine, Prince Pipes and Fittings

• Record Date Dividend: Capri Global Capital, Axtel Industries, Goodricke Group, Parag Milk Foods

• Price Band Revised From 10% To 5%: Themis Medicare, Zen Technologies

• Price Band Revised From 20% To 10%: Sobha

• Move Into Short-Term ASM Framework: Zen Technologies, Prestige Estates Projects, Delphi World Money, Fiem Industries, Shreyas Shipping & Logistics

• Move Into ASM Framework: Sobha

Money Market Update

• The rupee ended at 73.42 against the U.S. Dollar on Tuesday as compared to Monday's closing of 73.10.

F&O Cues

• Nifty September futures ended at 17,369.25, a premium of 7.15 points

• Nifty September futures added 0.13%. and 394 shares in Open Interest

• Nifty Bank September futures ended at 36,572.90, a premium of 104.1 points

• Nifty Bank September futures shed 10.18%, and 8,119 shares in Open Interest

• Securities that continue to be on the ban list: Indiabulls Housing Finance, National Aluminium Company