Asia-Pacific markets rose on overnight gains in US stocks on Thursday. Investors in the region are awaiting the Bank of Korea's policy decision.
The Nikkei 225 was trading 278.02 points or 0.73% higher at 38, 229.82 as of 06:21 a.m.
The Kospi was 3.73 points, or 0.14% higher, at 2,704.86 as of 06:22 a.m.
US stocks gained after minutes of the Federal Reserve's July policy meeting showed that some of the decision maker acknowledged the need to cut rates. On Wednesday, the S&P 500 and Dow Jones Industrial average ended 0.42% and 0.14% higher, respectively. The Nasdaq Composite index settled 0.53% higher.
Brent crude was trading 0.07% lower at $76.00 a barrel. Gold rose 0.04% to $2,513.52 an ounce as of 06:28 a.m.
The GIFT Nifty was trading 56 points or 0.23% higher at 24,871.50 as of 06:31 a.m.
Indian 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 NSE Nifty 50 settled at 71.35 points, or 0.29% higher at 24,770.20, and the S&P BSE Sensex ended at 102.44 points, or 0.13% higher at 80,905.30.
Overseas investors stayed net sellers of Indian equities on Wednesday for the third straight day. Foreign portfolio investors offloaded stocks worth Rs 799.9 crore, while domestic investors stayed net buyers for the 13th session and bought equities worth Rs 3,097.5 crore, according to provisional data from the National Stock Exchange.
The Indian currency depreciates by 14 paise to close at 83.93 against the US dollar.
Earnings Post Market Hours
Procter & Gamble Health Q4 (YoY)
Revenue down 6% at Rs 284 crore versus Rs 301 crore.
Ebitda up 6% at Rs 48 crore versus Rs 45 crore.
Ebitda margin at 17.01% versus 15.07%.
Net profit down 44% at Rs 17 crore versus Rs 30 crore.
Stocks to Watch
Zomato: The company will acquire Paytm's entertainment ticketing business for Rs 2,048 crore. Paytm will transfer the movie ticketing business to unit Orbgen Tech, which will be acquired by the company for Rs 1,265 crore, and unit Wasteland Entertainment will be bought by Zomato for Rs 784 crore.
One 97 Communication: The company announced significant cuts in the annual salaries of its non-executive independent directors, Ashit Ranjit Lilani and Gopalasamudram Sundararajan.
Kalyan Jewellers: Highdell to sell a 2.36% stake to promoter Trikkur Sitarama Iyer for Rs 1,300 crore, at Rs 535 per share.
India Grid Trust: Sponsor Esoteric II to sell up to a 17.32% stake in the company via OFS, which includes a base offer of up to 9.66% with an oversubscription option of an additional 7.66%. The floor size for OFS is set at Rs 132 per share. OFS is to take place on August 22 and 23.
IREDA: The company is to consider raising funds up to Rs 4,500 crore through FPO, QIP, or other means.
Zen Technologies: The company will launch its QIP and has set the floor price at Rs 1,685.18 per share.
Welspun Enterprises: The company arm received an order worth Rs 160 crore from BMC for the rehabilitation of man-entry sewers by trenchless technology in Mumbai.
Punjab National Bank: The government has extended Kalyan Kumar's term as Executive Director for two years beyond Oct. 20.
L&T Technology Services: The company has extended collaboration with Paris-based Thales for software monetisation solutions.
RVNL: The company signed a MoU with Dhaya Maju Infrastructure for rail infrastructure projects in the ASEAN market, with a special focus on establishing a manufacturing base in Malaysia for railway coaches.
Hudco: The company signed a MoU with the Yamuna Expressway Industrial Development Authority to extend loan assistance towards projects on both sides of the Yamuna Expressway.
Kilburn Engineering: The company will consider raising funds on Aug. 26.
BEML: The company partnered with the Indian Navy to develop advanced marine applications for defence.
Also Read: Zomato Buys Paytm's Entertainment Ticketing Businesses, Insider and TicketNew, For Rs 2,048 Crore
IPO Offering
Interarch Building Products: The public issue was subscribed to 93.53 times on day 3. The bids were led by qualified institutional investors (205.41 times), non-institutional investors (128.42 times), employees reserved (24.19 times), and retail investors (19.11 times).
Orient Technologies: The public issue was subscribed to 6.65 times on day 1. The bids were led by retail investors (10.5 times), non-institutional investors (6.17 times), and qualified institutional investors (0.02 times).
Block Deals
PNB Housing Finance: General Atlantic Singapore Fund FII Pte. sold 1.33 crore shares (5.13%) and Pioneer Investment Fund sold 6.23 lakh shares (0.23%) at Rs 802.5 apiece. While the Government of Singapore bought 36.45 lakh shares (1.4%), Aditya Birla Sun Life Mutual Fund bought 18.69 lakh shares (0.71%) and HSBC Mutual Fund bought 8.09 lakh shares (0.31%) at Rs 802.5 apiece. Morgan Stanley Asia Singapore Pte was among others to acquire 2.49 lakh shares (0.14%) at Rs 802.5 apiece.
Bulk Deals
Cyient DLM: Cyient sold 1.14 crore shares (14.5%) at Rs 764.4 apiece. On the other hand, Morgan Stanley Asia Singapore Pte bought 41.37 lakh shares (5.22%), Aditya Birla Sun Life Mutual Fund bought 19.79 lakh shares (2.5%) and Nippon India Mutual Fund bought 13.2 lakh shares (1.66%) at Rs 764.4 apiece. HDFC Mutual Fund bought 11.35 lakh shares (1.43%), Citigroup Global Markets Mauritius Private Limited bought 5.04 lakh shares (0.63%) and Edelweiss Mutual Fund bought 4.1 lakh shares (0.51%) at Rs 764.4 apiece.
Trent: Dodona Holdings sold 2.46 lakh shares (0.06%) at Rs 6,790 apiece and Siddhartha Yog bought 2.46 lakh shares (0.06%) at Rs 6790 apiece.
Kiri Industries: Griffin Growth Fund VCC bought 40.98 lakh shares (7.9%) at Rs 373.85 apiece and Lotus Global Investments Limited sold 40.98 lakh shares (7.9%) at Rs 373.85 apiece.
Delhivery: Nexus Ventures Iii sold 78.19 lakh shares (1.06%) at Rs 440 apiece.
Nuvama Wealth Management: Rashesh Chandrakant sold 4 lakh shares (1.13% stake) at Rs 6,204 apiece.
Also Read: Singapore Government, Aditya Birla Sun Life Mutual Fund Buy Stakes In PNB Housing Finance
Insider Trade
Man Infraconstruction: Promoter Mansi P. Shah bought 50,000 shares on Aug. 20.
Info Edge (India): Promoter Hitesh Oberoi sold 40,060 shares on Aug. 20; Promoter Endeavour Holding Trust sold 38,973 shares on Aug. 20.
Prataap Snacks: Promoter Rajesh Kumar Metha sold 1.85 lakh shares on Aug 19. Promoter Arvind Kumar Metha sold 65,000 shares, Promoter Rajesh Kumar Metha sold 0.14 crore shares and Promoter Rajesh Kumar Metha sold 1.47 lakh shares.
Trading Tweaks
Price band change from 20% to 10%: Tasty Bite Eatables.
Ex/record dividend: Indian Railway Finance Corporation, Jindal Steel and Power, Aster DM Healthcare, Globus Spirits, Goldiam International, Relaxo Footwears, Sirca Paints, and Hester Biosciences.
Ex/record AGM: Aster DM Healthcare, Globus Spirits, Sirca Paints, Expleo Solutions, Hester Biosciences, Honasa Consumer.
Moved into short term ASM Framework: Angel One, Edelweiss Financial Services, Godfrey Phillips India, J.G. Chemicals, and Tasty Bite Eatables.
Moved out short term ASM Framework: Garware Hi-Tech Films, Kfin Technologies, Sakuma Exports.
F&O Cues
Nifty August futures up by 0.34% to 24,798 at a premium of 28 points.
Nifty August futures open interest down by 0.5%.
Nifty Bank August futures down by 0.17% to 50,806 at a premium of 121 points.
Nifty Bank August futures open interest down by 1.9%.
Nifty Options Aug. 22 Expiry: Maximum call open interest at 25,000 and maximum put open interest at 24,300.
Bank Nifty Options Aug. 28 Expiry: Maximum call open Interest at 58,000 and maximum put open interest at 52,800.
Securities in ban period: Aarti Industries, Aditya Birla Fashion, Balrampur Chini Mills, Birlasoft, GNFC, Granules, Hindustan Copper, India Cements, LIC Housing Finance, National Aluminium, PEL, and Sun TV.
Money Market
The Indian rupee closed weaker against the US dollar on Wednesday, ahead of Federal Reserve Chair Jerome Powell's speech.
The rupee depreciated 14 paise to close at 83.93 against the greenback, according to Bloomberg data. It had closed at 83.79 on Tuesday.
Research Report
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