KEY HIGHLIGHTS
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World View: Time For India To Reign Amid Rising Tension On China?
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Indian Rupee Closes At Tts Weakest-Ever Level Of 83.27 Against The U.S Dollar
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Sensex Snaps 11-Day Rise, Nifty Ends Lower HDFC Bank, RIL, Infosys Drag: Market Wrap
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Fortis Healthcare Has 10.5 Lakh Shares Change Hands
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Power Grid Corp Of India Has 50 Lakh Shares Change Hands
World View: Time For India To Reign Amid Rising Tension On China?
FPIs Snap Two-Day Buying Streak To Turn Net Sellers
Overseas investors turned net sellers of Indian equities after two days on Monday.
Foreign portfolio investors offloaded stocks worth Rs 1,236.51 crore, according to provisional data from the National Stock Exchange.
Domestic institutional investors remained net buyers and mopped up equities worth Rs 552.55 crore, the NSE data showed.
Foreign institutions have been net buyers of Rs 1,30,820 crore worth of Indian equities so far in 2023, according to data from the National Securities Depository Ltd., updated till the previous trading day.
Yield On The 10-Year Bond Ends Lower
The yield on the 10-year bond closed 2 bps Lower at 7.18% on Monday.
Source: Bloomberg
Indian Rupee Closes At Tts Weakest-Ever Level Of 83.27 Against The U.S Dollar
The local currency depreciated 9 paise to close at all time weakest level of 83.27 against the U.S. dollar on Monday.
It closed at 83.18 on Friday.
As per intraday trade, Rs 83.29 per dollar remains the weakest-ever level the rupee touched on Oct. 10, 2022.
Source: Bloomberg
Sensex Snaps 11-Day Rise, Nifty Ends Lower HDFC Bank, RIL, Infosys Drag: Market Wrap
India's benchmark stock indices opened lower and declined through Monday. Nifty snapped three days of gains, whereas Sensex snapped 11 days of advance, which was its longest streak of gains since October 2007.
PSU banks and auto sectors led as Nifty Auto hit a lifetime high and Nifty PSU Bank scaled fresh a 12-year high intraday. Realty, media and metal sectors fell, on the other hand.
The S&P BSE Sensex closed 242 points, or 0.36%, at 67,596.84 while the NSE Nifty 50 was 59 points or 0.29% lower at 20,133.30.
Stocks fell as traders took risk off the table ahead of a raft of policy decisions this week that will reveal how major central banks view progress in the fight against inflation. The Stoxx Europe 600 fell 0.5%.
U.S. equity futures signaled a slight rebound from Friday’s declines on Wall Street. Apple Inc. gained, with analysts positive about pre-orders for the latest iPhone.
In Asia, a gauge of the region’s shares fell, dragged down by tech names. Hong Kong’s Hang Seng Index slipped 1.4%, while China’s CSI 300 Index erased losses as traders drew support from data last week that pointed to signs of stabilization.
Titan Co., Mahindra & Mahindra Ltd., ITC Ltd., NTPC Ltd., and Power Grid Corp of India Ltd. were positively adding to the change in the Nifty 50 Index.
Whereas, HDFC Bank Ltd., Reliance Industries Ltd., Infosys Ltd., Bharti Airtel Ltd., and Kotak Mahindra Bank Ltd. were negatively contributing to the change.
The broader market indices ended lower; the S&P BSE MidCap Index was up 0.27%, whereas S&P BSE SmallCap Index was also 0.60% higher.
Eight out of 20 sectors compiled by BSE advanced, while the other 12 sectors declined. S&P BSE Utilities and S&P BSE Consumer Durables rose, where as S&P BSE Telecommunication and S&P BSE Realty fell the most.
The market breadth was skewed in the favour of the sellers. About 1,699 stocks rose, 2,074 declined, while 174 remained unchanged on the BSE.
Fortis Healthcare Has 10.5 Lakh Shares Change Hands
10.5 lakh shares changed hands in a large trade.
0.14% equity changed hands at Rs 325.20 apiece.
Buyers and sellers not known immediately.
Source: Bloomberg
Power Grid Corp Of India Has 50 Lakh Shares Change Hands
About 30 lakh shares or 0.04% equity changed hands at Rs 197.50 apiece in a large trade.
Following that, about 20 lakh more shares or 0.03% equity changed hands at Rs 198.25 apiece.
The buyers and sellers not known immediately.
Source: Bloomberg
PSU Banking Companies Advance As Nifty PSU Index Hits A Over 12-Year High, Adds Rs 4 Lakh Crore In Market Value
Shares of PSU banking companies were trading higher on Monday as the NSE Nifty PSU Bank Index rose 3.83% as of 1:59 p.m., compared to a 0.10% decline in the NSE Nifty 50. Intraday,
All the 12 constituents compiled by the gauge advanced, whereas Indian Overseas Bank Ltd., UCO Bank Ltd., Punjab & Sind Bank Ltd. and Central Bank of India Ltd. rose over 10% in trade.
Nifty PSU Bank Index hit an over 12-year high as it rose 4.34% intraday to 5,265.20, the highest level since Nov. 9, 2010. It added 4.54 lakh crore in market value to rise to Rs 12.31 lakh crore on Monday.
Indian Overseas Bank Ltd. added the most in terms of market value on Monday as its capitalisation increased by Rs 13,137.17 crore to Rs 89,597 crore, as of 1:59 p.m. It added
Similarly, State Bank of India added Rs 6,292 crore, which took its market value to nearly Rs 5.40 lakh crore. Bank of Baroda's market capitalsaition also rose to Rs 1.13 lakh crore.
Power Grid Corp Of India Has 30 Lakh Shares Change Hands
30 lakh shares changed hands in a large trade.
0.04% equity changed hands at Rs 197.50 apiece.
Buyers and sellers not known immediately.
Source: Bloomberg
European Markets Open Lower
M&M To Maruti: Auto Stocks See Sharp Rise
Shares of auto companies were trading higher on Monday.
The Nifty Auto was trading 0.99% higher compared to a 0.12% decline in the benchmark NSE Nifty 50 as of 12:18p.m.
The market capitalisation of Mahindra and Mahindra Ltd. crossed Rs 2 lakh crore for the first time ever.
M&M's stock rose as much as 4.3% to hit a 52-week high of Rs 1,670 apiece. It pared gains to trade 2.38% higher at Rs 1,639.20 compared to a 0.11% decline in the Nifty as of 1.33 p.m.
M&M's shares increased 4.56% during the past two trading sessions, while Bajaj Auto Ltd. shares increased by 7.56%. Tata Motors shares increased by 2.93%, while Hero Motocorp shares rose by 3.86%.
Indian Overseas Bank Has 3.53 Crore Shares Change Hands
3.53 crore shares or 0.2% equity changed hands in multiple large trades.
Buyers and sellers not known immediately.
Source: Bloomberg
Stocks In Focus: Karnataka Bank, HDFC Bank, NCC, Jamna Auto & More
DB Realty Completes Equity Fundraise Of Rs 1,544 Crore
DB Realty enters into Partnership with Adani Goodhomes, Godrej Residency and others.
Company is focused to be debt free in near-term.
Exploring avenues to partner with established large real estate developers.
Source: Exchange filing
PSU Banking Stocks Rally
Sensex, Nifty Trade Lower As HDFC Bank, RIL Drag; Auto, PSU Banks Advance: Midday Market Update
India's benchmark stock indices opened lower and pared losses to trade with little change during midday on Monday. PSU banks and auto sectors led as Nifty Auto and Nifty PSU Bank indices scaled fresh records intraday. I.T and realty sectors fell, on the other hand.
As of 12:10 p.m., the S&P BSE Sensex was down 87 points, or 0.13%, at 67,751.88 while the NSE Nifty 50 was 11 points or 0.05% lower at 20,181.45.
Stocks fell as traders took risk off the table ahead of a raft of policy decisions this week from the U.S., U.K. and Japan.
Shares in Asia were broadly lower, with under-performing tech shares sending a gauge of the sector toward its biggest decline in almost a month. The drop mirrored losses in Nvidia Corp. and Meta Platforms Inc., which both fell more than 3.5% on Friday. European stock futures pointed to a lower open, while their U.S. peers held on to small gains.
Hong Kong’s Hang Seng Index fell as much as 1.6% while China’s CSI 300 Index briefly touched its lowest level this year before erasing losses as traders drew support from data last week which pointed to signs of stabilization. Japan’s markets are shut for a holiday, with the nation’s central bank due to meet later this week.
ITC Ltd., Mahindra & Mahindra Ltd., State Bank of India, Titan Co., and HDFC Life Insurance Co. were positively adding to the change in the Nifty 50 Index.
Whereas, HDFC Bank Ltd., Reliance Industries Ltd., Infosys Ltd., Bharti Airtel Ltd., and Kotak Mahindra Bank Ltd. were negatively contributing to the change.
The broader market indices were marginally higher; the S&P BSE MidCap Index was up 0.02%, whereas S&P BSE SmallCap Index was also 0.02% higher.
Ten out of 20 sectors compiled by BSE advanced, while the other 10 sectors declined. S&P BSE Auto rose, where as S&P BSE Telecommunication fell the most.
The market breadth was skewed in the favour of the buyers. About 1,912 stocks rose, 1,653 declined, while 223 remained unchanged on the BSE.
Radico Khaitan Commissioned Greenfield Grain Distillery At Sitapur
Commissioned 350 KLPD greenfield grain distillery along with 15 MW captive power plant at Sitapur.
Facility based on state of art technologies and sustainable manufacturing practices.
Source: Exchange Filing
ICICI Securities Head-Internal Audit Venkatesh Shankaramani Retires On Sept. 30
Saravanan Maniraju appointed as the Head-Internal Audit w.e.f Oct. 1, 2023.
Venkatesh Shankaramani retires from Head-Internal Audit Department on Sept. 30, 2023.
Dhanlaxmi Bank Shares Fall Over 9% Intraday
Shares of Dhanlaxmi Bank Ltd. fell over 9% after its Independent Director Sridhar Kalyanasundaram resigned from the board citing the "belligerent attitude of the MD and CEO" on various issues, including rights issues, capital enhancement, whistleblower issues by the directors, and unethical conduct of the bank's business.
The scrip rose rose as much as 0.85% to Rs 29.5 apiece, as of 11:40 a.m., before paring losses when it was trading 9.23% lower, the most in nearly nine months since Dec. 22, 2022. This compares to a 0.04% decline in the NSE Nifty 50.
The stock has gained 47.61% on a year-to-date basis. Total traded volume so far in the day stood at 18 times its 30-day average. The relative strength index was at 77, implying that the stock maybe overbought.
Tata Steel Shares Touch New Highs Post £1.25 Billion UK Deal.
Tata Steel Ltd. shares set a new 52-week high of Rs 135 per share on Monday after it announced a £1.25-billion investment with the UK government.
The investment includes a £500-million grant from the UK government for setting up a 3 million ton electric arc furnace in Tata Steel's Port Talbot facility. Tata Steel will invest the remainder of £750 million.
The greener EAF is expected to result in total savings of £150-175 per ton, including £50-60 per carbon cost savings, according to the management
The plant is expected to be operational within 36 months. The company also plans to restructure the existing ‘heavy end’ carbon-intensive assets such as the blast furnaces and coke ovens, that are reaching the end of their operational life.
Shares of Tata Steel was trading 0.08% lower at 131.85 compared to a 0.05% decline in the benchmark NSE Nifty 50 at 11:18 a.m. were trading 2.3% higher
The stock has risen 17% on a year-to-date basis. The total traded volume stood at 2.2 times its 30-day average. The relative strength index was at 68.7.
Of the 31 analysts tracking the company, 25 maintain a 'buy' rating, four recommends a 'hold' and 'two' maintain a sell rating, according to Bloomberg data. The average 12-month consensus price target implies a potential upside of 3.7%.
Indian Overseas Bank Jump 19% To An Eight-Year High After Large Trade, All PSU Banks Rally
Shares of Indian Overseas Bank Ltd. rose jumped to an eight-year high after 23 lakh shares changed hands in a large trades, as per Bloomberg data. About 0.01% equity changed hands at Rs 45.50 apiece and it further had 11 lakh shares or 0.01% equity changed hands at Rs 45.65 apiece.
However, the buyers and sellers not known immediately.
The scrip rose rose as much as 18.99% to Rs 47 apiece, the highest level since April, 2015 before paring gains to trade 16.46% higher at 11:15 a.m. This compares to a 0.08% decline in the NSE Nifty 50.
The stock has gained 45.48% on a year-to-date basis. Total traded volume so far in the day stood at 6.6 times its 30-day average. The relative strength index was at 84.29, implying that the stock maybe overbought.
One analyst tracking the company suggests to 'sell' the stock, according to Bloomberg data.
Shares of PSU banking companies were trading higher on Monday as the NSE Nifty PSU Bank Index rose 3.26% as of 11:05 a.m., compared to a 0.07% decline in the NSE Nifty 50. Intraday,
All the 12 constituents compiled by the gauge advanced, whereas Indian Overseas Bank Ltd., UCO Bank Ltd., and Punjab & Sind Bank Ltd. rose the most in trade.
TCS Launches Innovative Digital Solution For Life Sycle Assessment And Reporting
Tata Consultancy Services Ltd. open source, Cloud-based Solution for environmental impact.
To help companies measure environmental impact of products they buy or build.
Source: Exchange Filing
NHPC Has 11.3 Lakh Shares Change Hands
11.3 lakh shares changed hands in a large trade.
0.01% equity changed hands at Rs 55.20 apiece.
Buyers and sellers not known immediately.
Source: Bloomberg
Salasar Techno Engineering Gets EPC Solution Contract Of $9.40 million
IIFL Finance Poised For Resurgent AUM Growth, Profitability: HSBC Initiates Coverage With 'Buy'
Shares of IIFL Finance Ltd. advanced after HSBC initiated a coverage on the stock citing four critical business pivots for the resurgent AUM growth and profitability going forward.
The brokerage assigned a 'buy' rating with a price target of Rs 790 per share, implying an upside of 33.8% over the next 12 months.
The four strategic pivots undertaken by the business will lead to more sustainable growth and earnings over FY23-26, which is likely to drive a re-rating of the stock, as per HSBC.
Four Strategic And Critical Pivots
IIFL has reduced its dependence on short-term borrowings and maintains a liquid balance sheet.
IIFL has run-down loans to commercial real estate, capital markets, and commercial vehicles and built granular, largely secured, retail AUM.
Aggressive investments in distribution, technology, and partnerships will drive growth.
IIFL was one of the first NBFCs to use the co-lending model, which sells down a proportion of loans to banks. This frees up capital and it is accretive for return on equity, it also reduces risk.
HSBC On IIFL Finance
Affordable housing loans, microfinance, digital loans, and co-lending are the key AUM growth drivers. Given adequate pricing power in these segments, margins should remain steady and improve when rates decline, as per the brokerage.
Operating leverage, especially in gold loans, should further aid the return n assets. Nearly two-thirds of IIFL's business operates at a very low through-the-cycle credit costs.
HSBC forecasts strong returns over FY23-26;
-A 25% compound annual growth rate in its AUM
-About 3.5% to 3.8% return on assets
-Nearly 21% to 22% return on equity
-Around 28% compound annual growth rate in its earnings per share.
Strong retail AUM growth, potentially lower volatility in asset quality in the next cycle, and RoA expansion will lead to potential rerating in the stock, as per the brokerage.
Downside risks include cyclicality in businesses and asset quality and regulatory changes in co-lending. Furthermore, the risk of adverse selection in new businesses like digital loans, liquidity tightness, and any increase in repo rate souring sentiment for NBFCs can affect the company negatively.
Shares of IIFL Finance Ltd. rose as much as 2.33% to Rs 599 apiece, the highest level since Sept. 15 before paring gains to trade 1.11% higher at 10:03 a.m. This compares to a 0.09% decline in the NSE Nifty 50.
The stock has gained 23% on a year-to-date basis. The relative strength index was at 51.7.
Five analysts tracking the company, maintain a 'buy' rating on the stock, according to Bloomberg data. The average 12-month consensus price target implies an upside of 32.5%.
Capacit'e Infraprojects Gets Rs 281 Crore Order
Gets order from Raymond for Rs 281 crore for project Codename Xception.
Project Codename Xception to be located in Thane.
Source: Exchange Filing
Nifty Auto Jumps 0.91% To Hit An All-Time High
Jupiter Life Line Hospitals Lists At A Premium Of 32.38% To IPO Price
Jupiter Life Line Hospitals lists at Rs 973 apiece on the NSE, 32.38% premium to IPO price.
Jupiter Life Line Hospitals lists at Rs 960 apiece on the BSE, 30.61% premium to IPO price.
Source: Exchanges
Indian Overseas Bank Has 13.4 Lakh Shares Change Hands
13.4 lakh shares changed hands in a large trade.
0.01% equity changed hands at Rs 42.15 apiece.
Buyers and sellers not known immediately.
Source: Bloomberg
PNB Has 10.2 Lakh Shares Change Hands In A Large Trade
About 10.2 lakh shares changed hands in a large trade. Around 0.01% equity changed hands at Rs 76.90 apiece and the buyers and sellers not known immediately.
It further had 14 lakh shares changed hands in a large trade or 0.01% equity changed hands at Rs 77.60 apiece. The buyers and sellers not known immediately.
Source: Bloomberg
Ashapura Minechem Signs Contracts For Bauxite, Iron Ore Supply
Contracts for supply of Bauxite and Iron Ore from Guinea and Ashapura Guinea Resources SARL.
Contracts for supply of 24 million tons of Bauxite were signed with State Power Investment Corp.
Contract to supply 10 million tons of Iron Ore were signed with Tai He Mining.
Source: Exchange Filing
Hindustan Aeronatics Jumps 4%, Defence Stocks Rise After DAC Approves Acquiring Military Hardware Worth Rs 45,000 Crore
Shares of defence equipment or related companies advanced after the Defence Ministry cleared the acquisition of military hardware worth Rs 45,000 crore. A total of nine procurement proposals were approved by the Defence Acquisition Council headed by Defence Minister Rajnath Singh, as per a PIB release.
The acceptance of necessity for the procurement of 12 Su-30 MKI Aircraft with associated equipment was accorded to Hindustan Aeronautics Ltd.
It also cleared the procurement of Dhruvastra short range air-to-surface missile Light Armoured Multipurpose Vehicles and Integrated Surveillance and Targeting System.
"All these procurements will be made from Indian vendors under Buy Indian-Indigenously Designed Developed and Manufactured or Buy (Indian) category which will give substantial boost to the Indian defence Industry towards achieving the goal of 'Aatmanirbhar Bharat'," the defence ministry said.
While the name of any other company winning a particular order was not revealed in the release, here is a list of defence companies that are directly or indirectly engaged in the production of aforementioned equipment.
Shares of Hindustan Aeronautics Ltd. rose as much as 4.14% to Rs 4,111.15 apiece, the highest level since Sept. 11 before paring gains to trade 1.63% higher at 10:03 a.m. This compares to a 0.07% decline in the NSE Nifty 50.
The stock has gained 58.5% on a year-to-date basis. Total traded volume so far in the day stood at 3.1 times its 30-day average. The relative strength index was at 57.
Out of the 11 analysts tracking the company, nine maintain a 'buy' rating, one recommends a 'hold' and one suggests to 'sell' the stock, according to Bloomberg data. The average 12-month consensus price target implies an upside of 6.4%.
Nifty 50 Trades 0.3% Lower
As of 9:25 a.m.
Vodafone Idea Clarifies That Company Is Not Getting Acquired
Vodafone Idea Clarifies
Report of company getting acquired is incorrect.
Note: Clarification issued on report "Vodafone Idea to be acquired by a US telecom giant Soon? Verizon, Amazon, or Starlink, in the race"
Source: Exchange Filing
Indus Towers Has 12.9 Lakh Shares Change Hands
12.9 lakh shares changed hands in a large trade.
0.05% equity changed hands at Rs 193.00 apiece.
Buyers and sellers not known immediately.
Source: Bloomberg
Broader Markets Open Mixed
The broader market indices opened mixed; the S&P BSE MidCap Index was up 0.08%, whereas S&P BSE SmallCap Index was also 0.15% lower.
Seven out of 20 sectors compiled by BSE advanced, while the other 13 sectors declined. S&P BSE Information Technology and S&P BSE Teck fell the most.
The market breadth was skewed in the favour of the buyers. About 1,484 stocks rose, 940 declined, while 139 remained unchanged on the BSE.
Top Movers On The Nifty 50 Index
Sensex, Nifty Open Lower: Opening Bell
India's benchmark stock indices opened lower on Monday after ending the last week at record close.
At pre-open, the S&P BSE Sensex was down 173 points, or 0.26%, at 67,665.58 while the NSE Nifty 50 was 37 points of 0.18% higher at 20,155.95.
Asian equities retreated following tech-led declines on Wall Street as investors looked ahead to a week that includes Federal Reserve and Bank of Japan meetings.
Shares fell in Hong Kong, Australia and South Korea. China’s CSI 300 Index briefly touched its lowest level this year before slightly climbing back up as the market attempted to maintain optimism from last week’s upbeat economic data. Regional weakness extended the losses in the MSCI Asia Pacific Index to 0.4%.
Japanese markets are shut for a holiday, with the central bank due to meet later this week. Contracts for U.S. shares edged higher at the start of Asian hours.
On Friday, stocks fell in the U.S., with a $4 trillion options maturity amplifying volatility, pushing up the equity-volatility VIX gauge from its lowest level since 2020. Big tech losses were led by Nvidia Corp. and Meta Platforms Inc. which both fell more than 3.5%. The S&P 500 erased its weekly gain, while the Nasdaq 100 slid 1.8%. The Fed’s policy decision is scheduled for Wednesday.
Tata Steel Has 10. Lakh Shares Change Hands
About 10.5 lakh shares or 0.01% equity changed hands in pre-market trade.
Buyers and sellers not known immediately.
Source: Bloomberg
Sensex, Nifty Trade Lower In Pre-Market Trade
At pre-open, the S&P BSE Sensex was down 173 points, or 0.26%, at 67,665.58 while the NSE Nifty 50 was 37 points of 0.18% higher at 20,155.95.
Source: Bloomberg
Yield On The 10-Year Flat
The yield on the 10-year bond opened flat at 7.21% on Monday.
Source: Bloomberg
Rupee Strengthens Against The U.S. Dollar
The local currency strengthened 6 paise to open at Rs 83.12 against the U.S dollar on Monday.
It closed at 83.18 on Friday
Source: Bloomberg
Sona BLW Precision Clarifies On Sales After UAW Strike In Some U.S. Plants
United Auto Workers in U.S. went on strike at some of the plants of three OEMs on Sept. 15.
There is minimal impact on the sales currently.
Potential impact may be higher if this strike persists for long or extends to the other plants.
Source: Exchange Filing
Asian Markets Trade Lower
Trade Talk: UK Government Announces Investment Package With Tata Steel
Banks, IT & Metal Stocks Look Promising: Trade Setup
Vodafone Idea Pays Rs 1,701 Crore To Department Of Telecommunications
Vodafone Idea makes payment of Rs 1,701 crore (including interest) to Department of Telecommunications.
Payment made towards 2022 spectrum auction instalment.
Payment in accordance with terms of notice inviting applications dated June 15, 2022.
Source: Exchange Filing
HFCL Gets Order Worth Rs 1,015 Crore From Madhya Pradesh Jal Nigam
Bags order worth Rs 1,015 crore from Madhya Pradesh Jal Nigam for providing EPC Services.
Project to be executed in collaboration with Khilari Infrastructure Private as consortium partner.
Source: Exchange Filing
Global Cues
U.S. Dollar Index at 105.3
U.S. 10-year bond yield at 4.33%
Brent crude up 0.27% at $94.18 per barrel
Nymex crude up 0.40% at $91.13 per barrel
GIFT Nifty up 20 points or 0.10% at 20,186 as of 8:20 a.m.
Bitcoin up 0.07% at $26,465.50
Trading Tweaks
Price Band Revised From 10% To 5%: GTL Infrastructure
Ex-date Dividend: Marathon Nextgen Realty, Mastek, Madhya Bharat Agro Products, Mold-Tek Packaging, NLC India, Paradeep Phosphates, Sadhana Nitrochem, Shivalik Bimetal Controls, Sharda Motor Industries, Suprajit Engineering, Texmaco Rail & Engineering, Time Technoplast, Tamil Nadu Newsprint & Papers, Venus Pipes & Tubes, Infibeam Avenues, Indoco Remedies, Indiabulls Housing Finance, Hikal, Gujarat Alkalies and Chemicals, Gujarat Narmada Valley Fertilisers and Chemicals, Glenmark Pharmaceuticals, Edelweiss Financial Services, Deep Industries, Container Corporation of India, Ami Organics, LG Balakrishnan & Bros, Maithan Alloys, Mangalore Chemicals & Fertilisers.
Ex-date AGM: Marathon Nextgen Realty, Mastek, Madhya Bharat Agro Products, Mold-Tek Packaging, NLC India, Nalwa Sons Investments, OnMobile Global, Prakash Industries, Quess Corp, Sadhana Nitrochem, Sharda Motor Industries, Suprajit Engineering, Texmaco Rail & Engineering, Time Technoplast, Tamil Nadu Newsprint & Papers, Techno Electric & Engineering, Jayaswal Neco Industries, Infibeam Avenues, Indoco Remedies, Hikal, Heubach Colorants, GRM Overseas, Gujarat Narmada Valley Fertilizers and Chemicals, Edelweiss Financial Services, Dredging Corporation of India, Deep Industries, Container Corporation of India, Campus Activewear, Black Box, Bannari Amman Spinning Mills, Ami Organics, Kingfa Science & Technology, Kiri Industries, LG Balakrishnan & Bros, Madras Fertilizers, Maithan Alloys.
Ex-date Dividend: Marathon Nextgen Realty, Venus Pipes & Tubes, Indiabulls Housing Finance, Deep Industries
Ex/Record Date Stock Split: JB Chemicals & Pharmaceuticals
Ex/Record Date Buyback: Siyaram Silk Mills
Move Out Of Short-Term ASM Framework: DB Realty, Transformers, and Rectifiers
Moved Into Short-Term ASM Framework: NIIT.
F&O Cues
Nifty September futures ended at 20,240.10, a premium of 68.10 points.
Nifty September futures rose 1.27%, with 2,760 shares in open interest.
Nifty Bank September futures ended at 46,255, a premium of 141.35 points.
Nifty Bank September futures fell 0.52% with 563 shares in open interest.
Securities in the ban period: Balrampur Chini Mills, Bharat Heavy Electricals, Indiabulls Housing Finance, India Energy Exchange, Hindustan Copper, India Cements, Manappuram Finance, REC, Zee Entertainment Enterprises, Chambal Fertilisers & Chemicals
Insider Trades
Dhani Services: Promoter Orthia Constructions Ltd. sold 1 crore shares on Sept. 11.
Star Cement: Promoter Group Laxmi Chamaria sold 2.19 lakh shares between Sept. 11 and 13.
Pledge Share Details
Stove Kraft: Promoter and Director Rajendra Gandhi revoked the pledge on 3 lakh shares on Sept. 14.
Block Deals
Restaurant Brand Asia: QSR Asia Pte Ltd sold 12.54 crore shares (25%) at Rs 119.1 apiece, while ICICI Prudential Life Insurance bought 3.4 crore shares (6.87%), Plutus Wealth Management bought 3.4 crore shares (6.87%), Goldman Sachs Funds-Goldman Sachs Asia Equity Portfolio bought 65 lakh shares (1.3%), and Citigroup Global Markets Mauritius bought 10.5 lakh shares (0.21%) at Rs 119.1 apiece, among others.
Bulk Deals
Aditya Vision: Sunita Sinha sold five lakh shares (4.15%) at Rs 2,203.02 apiece, and Nishant Prabhakar sold 1.48 lakh shares (1.23%) at Rs 2,200.85 apiece, while HDFC Mutual Fund bought five lakh shares (4.15%) at Rs 2,199.74 apiece.
TVS Srichakra: Anvil Wealth Management sold 65,077 shares (0.84%) at Rs 2,940.01 apiece.
360 One Wam: BNP Paribas Arbitrage sold 19.90 lakh shares (0.55%) at Rs 526.78 apiece.
Data Patterns India: Vanguard Emerging Markets Stock Index Fund a Series of Vieif bought 3.12 lakh shares (0.55%) at Rs 2075.54 apiece; Vanguard Total International Stock Index Fund bought 3.25 lakh shares (0.55%) at Rs 2075.54 apiece; and BNP Paribas Arbitrage sold 5.29 lakh shares (0.94%) at Rs 2071.24 apiece.
Five-Star Bus Fin: SCHF PV Mauritius sold 30.18 lakh shares (1.03%), while Smallcap World Fund Inc. bought 30.18 lakh shares (1.03%) at Rs 700.15 apiece.
Himadri Speciality Chem: BNP Paribas Arbitrage sold 41.95 lakh shares (0.95%) at Rs 241.14 apiece, while Vanguard Emerging Markets Stock Index Fund a Series of Vieif bought 25.26 lakh shares (0.57%) at Rs 241.82 apiece, and Vanguard Total International Stock Index Fund bought 26.53 shares (0.6%) at Rs 241.82 apiece.
MTAR Technologies: BNP Paribas Arbitrage sold 3.16 lakh shares (1.03%) at Rs 2601.65 apiece, while Vanguard Total International Stock Index Fund bought 2.30 lakh shares (0.75%) at Rs 2,608.06 apiece, and Vanguard Emerging Markets Stock Index Fund a Series of Vieif bought 1.98 lakh shares (0.64%) at Rs 2608.06 apiece.
Nazara Technologies: BNP Paribas Arbitrage sold 5.57 lakh shares (0.84%) at Rs 835.56 apiece, while Vanguard Emerging Markets Stock Index Fund a Series of Vieif bought 3.45 lakh shares (0.52%) at Rs 838.16 apiece, and Vanguard Total International Stock Index Fund bought 3.98 lakh shares (0.60%) at Rs 838.16 apiece.
Olectra Greentech: BNP Paribas Arbitrage sold 5 lakh shares (0.6%) at Rs 1249.81 apiece, while The Vanguard Group Inc.'s AC Vanguard Total International Stock Index Fund bought 5.28 lakh shares (0.64%) at Rs 1253.81 apiece and the Vanguard Emerging Markets Stock Index Fund bought 5.22 lakh shares (0.63%) at Rs 1253.81 apiece.
Ramkrishna Forgings: The Vanguard Group Inc. AC Vanguard Total International Stock Index Fund bought 10.60 lakh shares (0.66%) at Rs 691.78 apiece, and the Vanguard Emerging Markets Stock Index Fund bought 10.01 lakh shares (0.6%) at Rs 691.78 apiece.
Reliance Power: HRTI Private Limited bought 1.92 crore shares (0.5%) at Rs 19.01 apiece.
Satin Credit Net: Evli Emerging Frontier Fund bought 5.13 lakh shares (0.51%) at Rs 237.45 apiece.
Vishnu Prakash R. Pungli L.: Citadel Securities India Markets bought 11.63 lakh shares (0.9%) at Rs 181.42 apiece.
Apar Industries: BNP Paribas Arbitrage sold 2.88 lakh shares (0.75%) at Rs 5191.26 apiece.
Kirloskar Oil Eng: BNP Paribas Arbitrage sold 9.95 lakh shares (0.5%) at Rs 484.41 apiece.
NMDC Steel: BNP Paribas Arbitrage sold 2.07 crore shares (0.7%) at Rs 54.07 apiece.
Senco Gold: BNP Paribas Arbitrage sold 4.19 lakh shares (0.54%) at Rs 456.76 apiece.
Titagarh Rail Systems: BNP Paribas Arbitrage sold 8.21 lakh shares (0.64%) at Rs 778.07 apiece.
Tamilnad Merca Bank: BNP Paribas Arbitrage sold 10.71 lakh shares (0.67%) at Rs 543.46 apiece.
Usha Martin: BNP Paribas Arbitrage sold 21.35 lakh shares (0.7%) at Rs 345.33 apiece.
Stocks To Watch: IOCL, BEL, Tata Steel, HAL, Zomato, Tata Elxsi, PVR Inox In Focus
Indian Oil Corp: The board approved an additional investment of Rs 903.52 in JV Hindustan Urvarak and Rasayan to be used for setting up fertiliser plants in Gorakhpur, Sindri, and Barauni.
Bharat Electronics: The company bagged multiple orders worth Rs 3,000 crore. The order worth Rs 2,119 crore is from Cochin Shipyard for the supply of various equipment and other orders worth Rs 886 crore.
Tata Steel: The company and the UK government jointly agree on a proposal for the largest investment in the UK steel industry for decades.
Dhanlaxmi Bank: Independent Director Sridhar Kalyanasundaram resigned from the board citing the "belligerent attitude of the MD and CEO" on various issues, including rights issues, capital enhancement, whistleblower issues by the directors, and unethical conduct of the bank's business.
Responsive Industries: The company confirms the order placed for the RVNL Rishikesh-Karam Prayag railway project.
Tata Elxsi: The company has partnered with INVIDI Technologies to transform addressable advertising for pay-TV operators.
Hindustan Aeronautics: The Defence Acquisition Council has approved the procurement of 12 Su-30MKI aircraft and the avionics upgrade of Dornier aircraft.
Zomato: Zomato Slovakia, a step-down subsidiary of the company, initiated the process of liquidation on Sept. 14, which is expected to be completed within 9–12 months.
Samvardhana Motherson International: Motherson Electroplating US LLC has been incorporated in Delaware, USA, as an indirect, wholly owned subsidiary of the company.
Excel Industries: The company has entered into a share subscription and shareholder agreement with First Energy and First Energy 7. The company will acquire not less than 26% of the equity share capital of First Energy 7, the SPV formed to construct captive solar power plants. The acquisition is to be completed in five months, and the cost of the acquisition is Rs 5.24 crore.
PVR Inox: The company opened a five-screen multiplex at Himalaya Mall in the city of Ahmedabad.
Gensol Engineering: The company acquired 58,779 equity shares of Scorpius Trackers, constituting 54.38% of the share capital and voting rights in Scorpius, for Rs 135 crore. The company proposes to acquire 100% of the share capital of Scorpius in the second tranche.
Elpro International: The company completed the acquisition of 100% of the equity shares of Fortune Capital Holding for Rs 3.34 crore.
Deccan Gold Mines: The board approved the allotment of 17.70 lakh equity warrants at an issue price of Rs 53.47 per share to non-promoters, which are convertible into an equivalent number of equity shares of Rs 1 each at an issue price of Rs 53.47 per equity share within 18 months from the date of allotment.
WPIL: The company received a contract for the supply of an onboard range of centrifugal pumps and spares for different classes of ships from the Ministry of Defence (Navy) for Rs 14.3 crore. This contract for onboard centrifugal pumps will greatly strengthen WPIL's product offering to the Indian Navy, which is undergoing a major fleet expansion programme.
Brigade Enterprises: Brigade Tetrarch, a wholly owned subsidiary of the company, has entered into a sale deed for acquiring 5 acres and 35.25 guntas of land parcel located in Bangalore for a consideration of Rs 123.50 crore from Bangalore Ceramics. It will develop a residential project on this land parcel with an overall development of 1 million square feet and an overall revenue potential of Rs 800 crore.
Lemon Tree Hotels: The company opened Peninsula Suites, operated by Lemon Tree Hotels, Bengaluru, the sixth property in the city under the Lemon Tree umbrella. The property is managed by Carnation Hotels, a wholly owned subsidiary and the hotel management arm of Lemon Tree Hotels.
Texmaco Rail & Engineering: The board has approved fund raising up to Rs 1,000 crore by way of issuance of equity shares through QIP and Rs 50 crore by way of preferential issue to promoters.
IPO Offerings
Yatra Online: The IPO was subscribed to 11% on the first day of its initial public offering. The bids were led by retail investors, who subscribed 55%, or 0.55 times, and non-institutional investors, who subscribed 3%, or 0.03 times. It saw zero bids from institutional investors.
Zaggle Prepaid Ocean Services: The IPO was subscribed 0.43 times, or 43%, on its second day. The bids were led by retail investors, who subscribed 1.90 times, and non-institutional investors, who subscribed 0.29 times, or 29%. It saw zero bids from institutional investors.
Samhi Hotels: The IPO was subscribed 0.12 times, or 12%, on its second day. The bids were led by retail investors, who subscribed 0.58 times, or 58%, and non-institutional investors, who subscribed 0.07 times, or 7%. It saw zero bids from institutional investors.
GIFT Nifty Signals Higher Opening For Benchmarks
Asian equities dropped following tech-led declines on Wall Street as investors looked ahead to a week that includes Federal Reserve and Bank of Japan meetings.
Stocks slipped in South Korea and Australia at the open. Japanese markets are shut for a holiday, with the central bank due to meet later this week. Contracts for U.S. shares edged higher at the start of Asian hours.
On Friday, stocks fell in the U.S., with a $4 trillion option maturity amplifying volatility, pushing up the equity-volatility VIX gauge from its lowest level since 2020. Big tech losses were led by Nvidia Corp. and Meta Platforms Inc., which both fell more than 3.5%. The S&P 500 erased its weekly gain, while the Nasdaq 100 slid 1.8%. The Fed’s policy decision is scheduled for Wednesday.
Brent crude prices were trading above $94 a barrel, and WTI crude was above the $91 mark. The yield on the 10-year U.S. bond was trading at 4.33%, and Bitcoin was below the $27,000 level.
At 8:20 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India, was up 20 points, or 0.10%, at 20,186.
India's benchmark stock indices scaled fresh highs on Friday to end at a record close. Nifty advanced for the third session, whereas Sensex rose for the 11th day, the longest streak of gains since October 2007.
Intraday, the S&P BSE Sensex rose as much as 0.60% to hit an all-time high of 67,927.23 points, whereas the Nifty advanced 0.46% to a record of 20,222.45 points. On a weekly basis, the indices advanced for the third week.
Auto and I.T. stocks rose, whereas real estate and fast-moving consumer goods shares were under pressure.
Overseas investors remained net buyers of Indian equities on Friday for the second consecutive session. Foreign portfolio investors mopped up stocks worth Rs 164.42 crore, according to provisional data from the National Stock Exchange. Domestic institutional investors turned net buyers and bought equities worth Rs 1,938.57 crore.
The local currency weakened 14 paise to close at Rs 83.18 against the U.S. dollar on Friday.
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