Asian indices were mixed at open with Japan's Nikkei falling the most after Shigeru Ishiba’s victory in the party’s leadership race. The escalation of tensions in West Asia also dampened sentiment.
Nikkei was 4.5% lower in early trade. Australia's S&P ASX 200 was up 0.68% at 8,268, while South Korean Kospi was down 0.5% at 2,634 as of 6:40 a.m.
Most US equity indices ended lower on Friday on increasing rate cut optimism. S&P 500 and Nasdaq Composite declined 0.13% and 0.39%, respectively. The Dow Jones Industrial Average advanced by 0.33%.
The GIFT Nifty was at 26,320.00, up 29.5 points or 0.1% as of 07:00 a.m.
The NSE Nifty 50 snapped its six-session winning streak on Friday and the S&P BSE Sensex ended lower after two consecutive days of gains. Despite this, the Indian benchmarks managed to end higher for the third week in a row.
At close, the Nifty was 37.10 points or 0.14% down at 26,178.95 and the Sensex was 264.27 points or 0.31% lower at 85,571.85.
Overseas investors turned net sellers of Indian equities after a session of buying. Foreign portfolio investors offloaded stocks worth Rs 1,209.1 crore, domestic institutional investors stayed net buyers for the fifth day and purchased equities worth Rs 6,886.7 crore, the NSE data showed.
The rupee depreciated by 6 paise to close at 83.70 against the US dollar.
Stocks To Watch
BSE: The company revised Sensex option trade fee to Rs 3,250 per crore of premium turnover value and Bankex option trade fee to Rs 3,250 per crore of premium turnover. The changes will be effective from Oct. 1.
PNB: The company raised Rs 5,000 crore through a QIP, having initially aimed for Rs 7,000 crore. The bank allotted 48.2 crore shares at a price of Rs 103.75 each, with key investors including Citi Group, Bank of America Securities, SBI Contra Fund, Morgan Stanley, and Goldman Sachs.
Apollo Hospitals Enterprise: The company stake in its unit Apollo HealthCo had been diluted as an affiliate of private equity major Advent International has picked up a stake in the company. The company's shareholding in AHL has diluted from 94.9% to approximately 78.8%.
IndusInd Bank: The board has reappointed Sumant Kathpalia as the managing director and the chief executive officer for three more years, subject to the RBI approval.
NHPC: The company signed a joint venture agreement with Andhra Pradesh Power Generation Corp. for incorporation of a JV company for implementation of pumped storage hydro power projects and renewable energy projects in Andhra Pradesh.
Zomato: Akriti Chopra, co-founder and chief people officer designated as senior management personnel has resigned effective Sept. 27.
IDFC First Bank: The company’s merger with IDFC Financial, IDFC to be effective from Oct. 1. The record date for determining eligible shareholders is set as Oct. 10.
Welspun Enterprises: The company has been declared L1 bidder by Brihanmumbai Municipal Corp. for the Mumbai water Tunnel project worth Rs 1,990 crore.
Yes Bank: The bank received Rs 84 crore from a trust in the Security Receipts Portfolio, related to sale of NPA Portfolio to JC Flower ARC.
Mangalore Chemicals & Fertilizers: The company has resumed its production at ammonia and urea plants.
LTIMindtree: The company strengthens a pact with UK retailer Currys for retail IT solutions.
Bharat Electronics: The government approved a 40-60 JV with Israel Aerospace Industries for product support for medium-range surface to air missile systems used in India.
Adani Green Energy: The company is in a business transfer agreement with unit North Maharashtra Power for carving out Dahanu station.
Adani Enterprises: The company's unit April Moon will acquire a 74% stake in Cococart Ventures for Rs 200 crore.
Escorts Kubota: The Punjab and Haryana High Court has dismissed an appeal by the excise department regarding a Rs 46.9-crore tax demand.
Rallis India: The company has relieved S. Nagarajan from his position as chief operating officer, effective Oct. 20. He will take over as the chief executive officer of Tata Chemicals at Magadi.
ICICI Prudential Life Insurance Co.: The company has received an income tax demand notice worth Rs 361 crore, including interest.
Alembic Pharmaceuticals: The company has received the US FDA establishment inspection report for the Panelav facility, which was inspected by the US FDA from July 17 to July 26.
Spandana Sphoorty Financial: The board will consider fundraising on Oct. 3.
ICICI Lombard General Insurance Co: The company has received an income tax demand of Rs 1,388 crore for April 2021 to March 2022 period.
DR Reddy's Laboratories: The company has finalized a $620 million investment in its Switzerland unit.
Zydus Life: The drugmaker received US FDA approval for Enzalutamide capsules used for treatment of metastatic castration-resistant prostate cancer.
Biocon: The US FDA inspection at Bengaluru API facility from Sept. 23-27 ended with four observations.
IPO Offering
KRN Heat Exchanger and Refrigeration: The public issue was subscribed to 214.42 times on the final day. The bids were led by non-institutional investors (431.63 times), retail investors (98.29 times), and qualified institutional investors (253.04 times).
Diffusion Engineers: The public issue was subscribed to 27.19 times on day 2. The bids were led by non-institutional investors (47.08 times), retail investors (33.91 times), and qualified institutional investors (0.28 times), employee reserved (36.64 times).
Block Deals
Nuvama Wealth Management: Edel Finance, directly and through an affiliate, sold over 22 lakh shares or 6.24% equity for Rs 1,481 crore. Smallcap World Fund Inc bought 11.75 lakh shares (3.32%), Morgan Stanley Asia bought 3.42 lakh shares (0.96%), Goldman Sachs bought 3.24 lakh shares (0.91%) at Rs 6,702.6 apiece.
Entero Healthcare Solutions: Prasid Uno Family Trust sold 24 lakh shares (5.51%) at Rs 1,305 apiece. Stichting Depositary Apg Emerging Markets Equity Pool and Invesco Mutual Fund each bought 9.27 lakh shares (2.13%), Morgan Stanley Asia bought 0.76 lakh shares (0.17%), Societe Generale bought 0.96 lakh shares (0.22%) at Rs 1,305 apiece.
Bulk Deals
SpiceJet: Singularity Holdings bought 65 lakh shares (0.82%) at Rs 61.61 apiece.
Amrutanjan Health Care: Nageswaramma Trust sold 3.4 lakh shares (1.17%) at Rs 745.29 apiece.
Shivalik Bimetal Controls: Angad Estates sold 49.65 lakh shares (8.61%) at Rs 610.6 apiece, Ultra Portfolio Management sold 28.66 lakh shares (4.97%), Amar Engineering Company sold 21.21 lakh shares (3.68%), BS Sandhu & Associates (P) sold 4 lakh shares (0.69%). SBI Mutual Fund bought 31.1 lakh shares (5.39%), Franklin Templeton Mutual Fund bought 17.7 lakh shares (3.07%), Uti Mutual Fund bought 10.14 lakh shares (1.76%), Aditya Birla Sun Life Mutual Fund bought 10 lakh shares (1.73%), DSP Mutual Fund bought 9 lakh shares (1.56%), Sundaram Mutual Fund bought 6.58 lakh shares (1.14%), Ashoka India Equity Investment Trust Plc bought 6.27 lakh shares (1.08%), HSBC Mutual Fund bought 5.73 lakh shares (0.99%) among others.
Dynamatic Tech: Motilal Oswal Mutual Fund bought 0.48 lakh shares (0.7%) at Rs 8,043.3 apiece.
Sequent Scientific: Ascent India Fund III sold 22.84 lakh shares (0.91%) at Rs 195.73 apiece.
Sterling and Wilson Renewable Energy: Shapoorji Pallonji and Co. sold 1.35 crore shares (5.78%) at Rs 623.28 apiece, Khurshed Yazdi Daruvala sold 31.5 lakh shares (1.35%) at Rs 630.01 apiece, Mansi Share And Stock Advisors Pvt Ltd sold 12.13 lakh shares (0.52%) at Rs 643.04 apiece, while Citigroup Global Markets Mauritius Pvt. bought 25.65 lakh shares (1.09%), Morgan Stanley Asia Singapore Pte bought 20.25 lakh shares (0.86%), Societe Generale bought 20.1 lakh shares (0.86%) at Rs 623 apiece.
Insider Trades
Kilburn Engineering: Promoter Firstview Trading bought 25,000 shares on Sept. 26.
BCL Industries: Promoter Rajinder Mittal sold 25 lakh shares on Sept. 20.
NRB Bearings: Promoter Aziz Yousuf Zaveri bought 26,033 shares and Promoter Harshbeena Zaveri bought 46,711 shares on Sept. 25.
Pledge Share Details
Sterling and Wilson Renewable Energy: Promoter Kainaz Khurshed Daruvala created a pledge for 5 lakh shares and Shapoorji Pallonji and Co. created a pledge of 1.6 crore shares on Sept. 26.
Krishna Institute of Medical Sciences: Promoter Bhaskara Rao Bollineni revoked a pledge for 6.7 lakh shares on Sept. 24.
Chalet Hotels: Promoter Touchstone Properties and Hotels created a pledge for 1.44 crore shares on Sept. 25.
Steel Exchange India: Promoter Vizag Profiles created a pledge for 17.16 crore shares on Sept. 26.
Trading Tweaks
Moved into short term ASM: BF Utilities, Zee Media Corp.
Moved out short term ASM: BSE, IIFL Securities, Morepen Laboratories, Ram Ratna Wires, UFLEX.
F&O Cues
Nifty October futures up by 0.14% to 26,345 at a premium of 167 points.
Nifty October futures open interest up by 1.5%.
Nifty Bank October futures down by 0.63% to 54,220 at a premium of 386 points.
Nifty Bank September futures open interest down 3%.
Nifty Options Oct 3 Expiry: Maximum call open interest at 27,000 and maximum put open interest at 25,000.
Bank Nifty Options Oct 1 Expiry: Maximum call open Interest at 54,500 and maximum put open interest at 54,000.
Securities in ban period: Nil.
Money Market Update
The Indian rupee closed weaker against the US dollar on Friday amid heightened dollar demand by importers looking to settle payments. The rupee depreciated by 6 paise to close at 83.70 against the US dollar, according to Bloomberg data.
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