KEY HIGHLIGHTS
Rupee Depreciates Against US Dollar
Rupee depreciates by 14 paise to close at 83.93 against the US dollar.
It closed at 83.79 on Tuesday.
Source: Bloomberg
Nifty Rises For Fifth Consecutive Session As ITC, Airtel, HUL Lead: Market Wrap
Benchmark stock indices ended Wednesday's choppy session on a positive note with the NSE Nifty 50 recording a five-day winning streak as ITC Ltd. and Bharti Airtel Ltd. gained.
The Nifty settled 71.35 points or 0.29% higher at 24,770.20, and the Sensex ended 102.44 points or 0.13% higher at 80,905.30.
Intraday, the Nifty 50 rose 0.30% to 24,773.25, and the Sensex rose 0.13% to 80,905.89. For the entire session, the Nifty 50 index moved in 133.45 points range, and Sensex in 326.45 points.
"For the Index, the view remains the same i.e. heading towards 24,870 (range breakout target) while the support level shifted higher to 24,640," said Aditya Gaggar, director, Progressive Shares.
ITC Ltd., Bharti Airtel Ltd., Hindustan Unilever Ltd., Titan Co. Ltd., and Tata Consultancy Services Ltd. added to the index.
HDFC Bank Ltd., ICICI Bank Ltd., Tata Steel Ltd., UltraTech Cement Ltd., and Power Grid Corp weighed on the index.
On NSE, seven sectors advanced, four declined, and one remained flat out of 12. The NSE Nifty FMCG emerged as the top gainer, and the NSE Nifty Realty declined the most.
Broader markets outperformed. The BSE Midcap and Smallcap indices ended 0.43% and 0.87% higher, respectively.
On BSE, 16 sectors ended higher out of 20 with the BSE Consumer Durables emerging as the top performing sector.
Market breadth was skewed in favour of buyers. Around 2,611 stocks rose, 1,340 stocks declined, and 87 remained unchanged on BSE.
Market At Close
The NSE Nifty 50 rose for a fifth consecutive session on Wednesday. The index moved in a range of 133.45 points.
The BSE Sensex rose for a second consecutive session. The index move in the range of 326.45 points.
ITC Ltd., Bharti Airtel Ltd., and Hindustan Unilever Ltd. are top gainers in the Nifty 50 index.
HDFC Bank Ltd., and ICICI Bank Ltd. are top losers in the Nifty 50 index.
The NSE Nifty Pharma extended its record rally to second session as Divi's Laboratories Ltd. and Dr. Reddy's Laboratories Ltd. rose.
The NSE Nifty FMCG rose to record high on Wednesday as ITC Ltd., and Hindustan Unilever Ltd. led.
The NSE Nifty Midcap 150 ended 0.45% higher at 21,626.75.
The NSE Nifty Smallcap 250 index ended 1.06% higher at 17,920.90.
Central Bank Of India Emerges As Successful Bidder For Future Enterprises' Asset
Central Bank of India is declared as a successful bidder for the sale of Category 1 assets of Future Enterprises.
Successful bidder is for Future Generali India stake.
Source: Exchange filing
SEBI Settlement Order For Spandana Sphoorty Financial
The company is investigated for alleged violations of disclosure and listing regulations.
A Show Cause Notice was issued on Jan 4, 2024.
The company proposed a settlement on Mar 5, 2024.
SEBI's committee recommended a settlement payment of Rs. 38 Lakhs.
SEBI approved the settlement on July 25, 2024.
Payment was confirmed on Aug 9, 2024.
Proceedings were closed after payment.
SEBI can take further action if terms are violated.
Source: SEBI order
Watch India Market Close At NDTV Profit
ONGC Approves Buyback Of Debt Securities Worth Rs 7,778 Crore
Oil and Natural Gas Corp approved buyback of compulsorily convertible debentures worth Rs 7,778 crore issued by OPaL.
Approves payment of Rs 86 crore call money to convert warrants held in OPaL
Conversion of warrants and debentures into equity will raise co's stake in OPaL to 92.3% from 49.4%.
Alert: OPaL is ONGC Petro additions Ltd
Nifty FMCG Rises To Life High As ITC & HUL Lead
The NSE Nifty FMCG index rose 1.44% to 63,137.15, the highest level since its incorporation on Sep 22, 1999. ITC Ltd., and Hindustan Unilever Ltd. are the top leaders in the index. It was trading 1.41% higher at 63,117.85 as of 2:23 p.m.
Embassy Office Parks Leases Space To Commonwealth Bank Of Australia
Embassy Office Parks Pvt. Ltd. leased 1.4 million square feet to Commonwealth Bank of Australia in Bengaluru.
Source: Exchange filing
Most European Markets Gain
Reflex Renewables Buys Stakes In Vyzag Bio-Energy
Reflex Renewables is buying 51% controlling stake in Vyzag Bio-Energy for Rs 2.9 crore.
Source: Exchange filing
Kilburn Engineering To Acquire Monga Srayfield
Kilburn Engineering is to acquire Monga Strayfield for Rs 123 crore Equinor India.
Source: Exchange filing
Shriram Properties Aims To Double Sales
Shriram Properties Ltd. aimed to double sales, triple revenue in three years.
Renews focus on mid-market and mid-market premium segments.
Targets cumulative sales of over 20 million square feet predominantly focused on Bengaluru, Chennai and Pune.
Source: Exchange filing
BPCL Clarifies Proposal To Buy LPG From Equinor India
Bharat Petroleum Corp clarified a proposal to buy LPG from Equinor India under discussion
No contract is finalised to buy LPG from Equinor India
Source: Exchange filing
Indoco Remedies Gets ANDA For Lofexidine Tablets
Indoco Remedies Ltd. received abbreviated new drug application approval for Lofexidine tablets from the US Food And Drug Administration.
Alert: Lofexidine tablets are used to manage opioid withdrawal symptoms
Source: Exchange filing
Delhi High Court Withdraws Compensation Proceedings Against Mama Earth
Delhi HC directs RSM General to withdraw execution proceedings of Rs 57 crore compensation against Honasa Consumer Ltd.
Source: Exchange filing
Tata Motors In Pact With Delta Electronics & Thunderplus
Tata Motors Ltd. is in pact with Delta Electronics & Thunderplus for 250 fast-charging stations.
Source: Bloomberg
BEML Signs MoU With Defence Ministry
Ministry of Defence signed a memorandum of understanding with BEML Ltd. to drive indigenisation of marine equipment and systems.
Source: PIB
CESC Shares Gain After Arm's Renewable Energy Push
Shares of CESC Ltd. gained over 6% on Wednesday after its subsidiary incorporated three new companies to explore opportunities in the renewable power sector.
Over the last few days, the subsidiary Purvah Green Power Pvt. incorporated Ecofusion Power Pvt., Ecovantage Energy Pvt., and Vitalgreen Power Pvt. to tap the green energy business.
L&T Bags Large Order For Transportation Infrastructure
Larsen & Toubro Ltd. has received a large order for Transportation Infrastructure Business.
Alert: L&T classifies large orders as Rs 2,500 to 5,000 crore
Source: Exchange filing
Rupee Weakens Sharply Against US Dollar
Rupee weakened 10 paise to 83.89 against the US dollar.
It closed at 83.79 on Tuesday.
Source: Bloomberg
ICRA On Non-Banking Financial Segment
Regulatory actions and tight liquidity conditions to hit outlook for financial year 2025.
Sharp slow down in personal loan growth may impact overall growth
Defaults to see uptick in the near term, credit cost expected to rise NBFC may look for alternate funding avenue as bank financing constrained
Source: ICRA Outlook for the NBFC sector Webinar
Servotech Power Wins Contract From Kerala Government
Servotech Power Systems Ltd.'s contract for installing 12 electric vehicle charging stations from Kerala government.
Source: Exchange filing
Nifty Pharma Extends Record Rally To Second Session As Divi's Labs, Cipla Lead
The NSE Nifty Pharma index hit a new high for second consecutive session on Wednesday as Divi's Laboratories Ltd., and Cipla Ltd. rose. The index rose as much as 0.96% to 22,587.95, the highest level since its incorporation on July 1, 2005.
The index has been rising for four sessions from last Friday.
Adani Enterprises Increases Public Bond Sizes To Rs 800 Crore
Adani Enterprises Ltd. has increased public bond sale size to as much as Rs 800 crore.
Alert: Company had earlier filed draft prospectus for up to Rs 600 crore
Source: Bloomberg
Angel One Jumps 36% In 5 Sessions To Hit Highest Level In Nearly Four
Shares of Angel One Ltd. continued its gains in the fifth consecutive session to hit its highest level in nearly four-months. The stock added more than 36% in the five day rally.
In today's session, the scrip rose as much as 5.86% to Rs 2,855 apiece, the highest level since April 29. It pared gains to trade 1.64% higher at Rs 2,738.85 apiece, as of 10:51 a.m. This compares to a 0.1% advance in the NSE Nifty 50 Index.
Dhanuka Agritech Jumps After Board Approves Buyback Worth Rs 100 Crore
Shares of Dhanuka Agritech Ltd. jumped 7.02% to Rs 1,870.00, the highest level since Aug 12. The board has approved a proposal to buyback shares worth Rs 100 crore. It pared gains to trade 2.45% higher at Rs 1,790 apiece as of 11:02 a.m.
Thai Airways Picks Rategain Travel For Multi-Year Partnership
Thai Airways selected Rategain Travel Technologies Ltd. for multi-year partnership for accurate pricing intelligence.
Source: Exchange filing
Hindustan Zinc Gets GST Penalty & Tax Demand
Hindustan Zinc Ltd. received GST penalty along with tax demand of Rs 26 crore for financial years 2020 and 2021.
The company intends to file appeal before Appellate Authority.
Source: Exchange filing
Mazagon Dock Shipbuilders Rebounds From Decline And Jumps Over 6%
Mazagon Dock Shipbuilders Ltd. rebounded from a steep decline it witnessed in past three session on Wednesday, and recorded over 6% gain.
Genus Power Infra Hits Life High After Order Win
Genus Power Infrastructures Ltd. shares hit the upper circuit and touched an all-time high after market open on Wednesday after it received orders for projects worth Rs 3,608.5 crore.
Cyient Touches Four-Month High As It Set To Offload Stakes In Arm
Cyient Ltd. scaled a four-month high level on Monday as the company will sale 14.5% stake in Cyient DLM Ltd on Aug 21.
Nifty, Sensex Open Lower As Private Banks Stocks Drag
Benchmarks opened lower on Wednesday as heavyweight HDFC Bank Ltd., ICICI Bank Ltd. dragged the benchmark index. Decline in Asian share indices also pressured the indices.
As of 09:17 a.m., the NSE Nifty 50 4.10 points or 0.02% higher at 24,702.95, and the BSE Sensex was flat at 80,801.08.
The Nifty 50 has moved higher near to the gap levels of 24,800 and crossover of the same would extend the move near to all time high, said Vikas Jain, head, research, Reliance Securities.
Any corrective action to the support of 24,400 levels over the next few days will be a good opportunity to add longs. RSI has been overbought on hourly charts and would witness some corrective action to test the lower band of averages. Highest call OI is at 25,000 strikes while the downside the highest put OI moved higher to 24,600 for the weekly expiry, Jain said.
HDFC Bank Ltd., ICICI Bank Ltd., Reliance Industries Ltd., Tata Consultancy Services Ltd., and Shriram Finance Ltd. weighed on the Nifty 50 index.
Bharti Airtel Ltd., Larsen & Toubro Ltd., ITC Ltd., Divi's Laboratories Ltd., and Tata Motors Ltd. limited losses in the index.
On NSE, six sectors advanced, three declined, and three remained flat out of 12. The NSE Nifty Realty led losses, and the NSE Nifty Pharma logged most gains.
Broader markets outperformed benchmark indices. The BSE Midcap and Smallcap indices were 0.15% and 0.40% higher, respectively.
On BSE, 14 sectors advanced, and six declined out of 20. The BSE Industrial rose the most, and the BSE Realty declined the most.
On BSE, 2,046 stocks advanced, 847 stocks declined, and 141 stocks remained unchanged.
Nifty, Sensex Trade Lower At Pre-Open
The NSE Nifty 50 was 0.07% or 18.30 points lower at 24,680.55, and the BSE Sensex was 0.17% or 135.61 points lower at 80,667.25.
Jefferies On TRAI Telecom Data
Jio led the sector’s active subscriber additions
Bharti Airtel Ltd. gained market share in wireless broadband additions
Vodafone Idea Ltd. continues to lose subscribers
Jio’s lead in subscriber additions would have led it to take the lead in tariff hikes in Jun-24
Market gains may continue for Bharti/Jio in the near term
This could moderate in FY26 given Vodafone Idea’s recent capital raise.
Yield On The 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 6.85%.
It closed at 6.85% on Tuesday.
Source: Bloomberg
Rupee Weakens Against US Dollar
Rupee weakened 3 paise to open at 83.82 against the US dollar.
It closed at 83.79 on Tuesday.
Source: Bloomberg
Global Cues
U.S. Dollar Index at 101.46
U.S. 10-year bond yield at 3.81%
Brent crude down 0.19% at $77.05 per barrel
Nymex crude down 0.44% at $74.04 per barrel
Bitcoin rose 0.03% at $59,327.59
Cera Sanitaryware's Buyback To Open On Aug 22
Cera Sanitaryware Ltd.'s buyback to open on August 22 and closed on August 28.
Source: Exchange filing
Samvardhana Motherson's Units Merge
Motherson Innovations merged with arm Samvardhana Motherson Innovative Autosystems.
Alert: Motherson Innovations is an indirect subsidiary of company
Source: Exchange filing
F&O Cues
Nifty August futures up 0.47% to 24,711 at a premium of 13 points.
Nifty August futures open interest down by 1.77%.
Nifty Bank August futures up by 0.81% to 50,892 at a premium of 89 points.
Nifty Bank August futures open interest down by 8.5%.
Nifty Options Aug. 22 Expiry: Maximum call open interest at 25,000 and maximum put open interest at 24,300.
Bank Nifty Options Aug. 21 Expiry: Maximum call open interest at 51,000 and maximum put open interest at 50,000.
Securities in ban period: Aaarti Industries, Aditya Birla Fashion, Balrampur Chini Mills, Bandhan Bank, Birlasoft, Gujarat Narmada Valley Fertilizers & Chemicals, Granules India, Hindustan Copper, India Cements, LIC Housing Finance, Manappuram, National Aluminium, PEL, RBL Bank, SAIL, and Sun TV Network.
Insider Trade
Info Edge (India): Promoter Endeavour Holding Trust sold 10,500 shares on Aug. 19 and promoter Hitesh Oberoi sold 14,245 shares on Aug. 19.
Pledge Share Details
Apollo Micro Systems: Promoter Karunakar Reddy Baddam created a pledge for 30 lakh shares on Aug. 16.
Trading Tweaks
Ex/record dividend: Gateway Distriparks, ITD Cementation India, Engineers India, Snowman Logistics, Symphony, Pfizer, Credo Brands Marketing, LINC, KPI Green Energy, India Glyols, and HAL.
Ex/record AGM: ITD Cementation India, Urja Global, PCBL, India Glyols, Isgec Heavy Engineering, HAL.
Ex/record buyback: Symphony.
Moved into short term ASM Framework: GRM Overseas, Jeena Sikho Lifecare, PCBL, Sterling Tools, and UFLEX.
Moved out of short term ASM Framework: Century Enka, Fusion Micro Finance.
Also Read: Sansera Engineering To Raise Rs 1,200 Crore
IPO Offering
Interarch Building Products: The public issue was subscribed to 10.84 times on day 2. The bids were led by non-institutional investors (30.82 times), employees reserved (11.75 times), retail investors (7.31 times), and qualified institutional investors (1.47 times).
Orient Technologies: The company will offer its shares for bidding on Wednesday. The price band is set from Rs 195 to Rs 206 per share. The Rs 214.8-crore IPO is a combination of a fresh issue of Rs 120 crore and the rest of the offer for sale.
Block Deals
HG Infra Engineering: Girishpal Singh Family Trust sold 6.08 lakh shares (0.93%) at Rs 1,566.5 apiece; Harendra Singh Family Trust sold 6.05 lakh shares (0.92%) at Rs 1,566.5 apiece; and Vijendra Singh Family Trust sold 5.82 lakh shares (0.89%) at Rs 1,566.5 apiece. Aditya Birla Sun Life Mutual Fund bought 4.87 lakh shares (0.74%) at Rs 1,566.5 apiece, Tata Mutual Fund bought 4.78 lakh shares (0.73%) at Rs 1,566.5 apiece, and Iti Mutual Fund bought 2.6 lakh shares (0.39%) at Rs 1,566.5 apiece.
Krishna Institute of Medical Sciences: India Advantage Fund S4-I sold 7.13 lakh shares (0.89%) at Rs 2,373.3 apiece and Dynamic India Fund S4 Us I sold 0.62 lakh shares (0.07%) at Rs 2,373.3 apiece. On the other hand, SBI Life Insurance Co. bought 7.75 lakh shares (0.89%) at Rs 2,373.3 apiece.
ADF Foods: Infinity Holdings sold 44 lakh shares (4%) at Rs 227.51 apiece, while Infinity Portfolio Holdings bought 44 lakh shares (4%) at Rs 227.51 apiece.
Bulk Deals
Zomato: ANTFIN Singapore Holding Pte. sold 18.54 crore shares (2.14%) at Rs 257.46 apiece.
Prataap Snacks: Rajesh Kumar Mehta sold 1.47 lakh shares (0.61%) at Rs 865.42 apiece.
Hinduja Global Solutions: Reliance Value Services Pvt. sold 2.36 lakh shares (0.5%) at Rs 730.36 apiece.
Stocks To Watch
Cyient: The company approved the sale of a 14.5% stake in the arm of Cyient DLM via a block deal. The sale is to be completed by Aug. 21.
Sansera Engineering: The company approved raising funds of Rs 1,200 crore via QIP or other means.
Dhanuka Agritech: The company approved the buyback of 5 lakh shares at Rs 2,000 apiece. The total value of the buyback is Rs 100 crore.
Genus Power Infrastructure: The company received three orders worth Rs 3,609 crore for the appointment of advanced metering infrastructure service providers.
GE T&D India: Promoters are in the process of reviewing their shareholding structure and express strong intention to continue as the majority shareholder block of the company. The promoters also added that they would evaluate the possibility of a minority stake sale.
Petronet LNG: The company entered into a MoU for the supply of LNG with LTL Holdings in Sri Lanka.
CESC: The company's arm incorporated a wholly owned subsidiary, Ecofusion Power, to explore opportunities in the renewable power sector.
Zaggle Prepaid Ocean Services: Zuzu Software Services sold a 4% stake in the company via the open market on Monday.
GIC Housing Finance: The company clarified that a report on the GIC weighing stake sale is incorrect. The company is unaware of any developments in this regard, it said.
P I Industries: The UK Companies Court approved the acquisition of Plant Health Care for £32.8 million. The acquisition is to be completed by Aug. 20.
BGR Energy Systems: The company received a letter of termination of contract from Jharkhand Urja Sancharan Nigam. There is no material impact on financials or operations.
Exide Industries: The company made an investment of Rs 75 crore into an arm. The company's total investment in the arm stands at Rs 2,652 crore.
RMC Switchgears: The company's unit received Rajasthan Renewable Energy Corp.'s nod to set up a 50 MW renewable energy park in the state.
NHPC: A subsidence or landslide occurred over the Tail Race Tunnel outlet structure and behind the gas-insulated substation building of the 510 MW Teesta-V power station in Sikkim. The station was undergoing restoration after the October flash floods.
GIFT Nifty Trades Near 24,700
Indices in Asia tracked the snap of S&P 500 and Nasdaq Composite's winning streak and opened lower. Japan's Nikkei was 0.9% lower, Australia's ASX 200 fell 0.50%, while South Korea's Kospi traded flat.
US stocks faced challenges in gaining further ground, after a vigorous rally brought the market close to its all-time highs.
On Tuesday, a decline in equities broke what would have been the S&P 500's ninth consecutive session of gains, its longest winning streak in two decades. This drop marked a sharp reversal from the negative momentum observed during the panic selling of early August.
The S&P 500 closed 0.20% lower at at 5,597.12, Dow Jones fell 0.15% to close at 40,834.97 and Nasdaq Composite ended at 17,816.94, down 0.33%.
At 6:32 a.m., gold was trading flat at $2,514.2 an ounce and brent crude was down 0.06% at $77.6 per barrel.
The GIFT Nifty was 0.04% or 10.50 points lower at 24,690.50 as of 6:46 a.m.
The NSE Nifty 50 extended gains for a fourth consecutive session and the S&P BSE Sensex continued its rally after a one-day blip to record their highest closing since Aug. 2, as shares of finance and information technology companies led gains. Nifty ended 126.20 points, or 0.51%, higher at 24,698.85 and Sensex was 378.18 points, or 0.47% up at 80,802.86.
Overseas investors stayed net sellers of Indian equities on Tuesday for the second consecutive day. Foreign portfolio investors offloaded stocks worth approximately Rs 1,458 crore, while domestic investors stayed net buyers for the 12th successive session and bought equities worth Rs 2,252.1 crore, according to provisional data from the National Stock Exchange.
The Indian currency strengthened by 8 paise to close at 83.79 against the US dollar.
Also Read: Your Guide To FII Positions On Aug. 21 Trade
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