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Market breadth was skewed in favour of sellers. Around 2,371 stocks declined, 1,667 stocks declined, and 143 stocks remained unchanged on BSE.
The NSE Nifty 50 snapped three-day losing streak.
The BSE Sensex reversed four-day of losing streak.
ICICI Bank Ltd., ITC Ltd., and Hindustan Unilever Ltd. were top gainers.
Oil and Natural Gas Corp, Tech Mahindra Ltd., NTPC Ltd. were top losers.
The NSE Nifty FMCG rose to record high tracking gains in Hindustan Unilever Ltd.
Bajaj Housing Finance Ltd.'s initial public offer was subscribed fully on first day.
Ola Electric Mobility Ltd. fell over three-week low as anchor investors sold stakes.
JSW Infrastructure Ltd. approved investment in Bhoke Railway Project on Konkan Route worth Rs 125 crore.
Approves capacity expansion at Jaigarh Port and Dharamtar Port for Rs 2,234 crore.
Source: Exchange filing
Bajaj Housing Finance IPO Fully Subscribed On Day One With HNI Portion Leading Demand
ADNOC is in non-binding pact with IOC for 1 million ton per annum LNG for 15 years
Source: Press statement
Total premium up 22% YoY at Rs 32,644 crore
Aditya Birla Sun Life total premium up 9% YoY at Rs 650 crore
Bajaj Allianz Life total premium up 3% YoY at Rs 953 crore
GoDigit Life total premium up 177% YoY at 69 crore
HDFC Life total premium up 4% YoY at 2,797 crore
ICICI Prudential total premium up 12% YoY at Rs 1,509 crore
Max Life total premium up 17% YoY at Rs 956 crore
SBI Life total premium down 13% YoY at Rs 2,704 crore
Source: Life Insurance Council
Market breadth was skewed in favour of the buyers. Around 1,467 stocks rose, 2,389 stocks declined, and 153 stocks remained unchanged on the BSE.
Ather Energy filed DRHP for initial public offer with fresh issue of share worth Rs 3,100 crore.
Founders, investors will also sell 2.2 crore shares in IPO.
Source: Bloomberg
Suzlon Energy Ltd. expects to complete the project by fourth quarter of financial year 2025-26.
This is our first contract with NTPC Ltd. Suzlon Energy expects the public sector share to keep growing going forward.
Beyond 600 megawatt, Ebitda margins will keep increasing, the CEO said.
In India, Suzlon Energy Ltd. is number 1 in market share and expects to continue that.
Margins will significantly improve with increase in quantity, according to CEO
Source: JP Chalasani, chief executive officer, Suzlon Energy in an interview to NDTV Profit
Minda Corp Ltd. is likely to consider fund raising via QIP, rights issue & other modes on September 12.
Source: Exchange filing
Finance Minister Nirmala Sitharaman started GST Council meet on Monday.
The council will consider to reduce tax rate on health and life insurance premiums, which is 18% at present.
Mazagon Dock Shipbuilders Shares Soar After Securing Order From ONGC
Mahindra & Mahindra Ltd.'s Mahindra Last Mile Mobility to launch electric four-wheeler 'e-ZEO' on October 3.
Source: Exchange filing
Gala Precision Engineering Ltd. listed at Rs 721.1 on NSE vs issue price of Rs 529.
The company listed at a premium of 36.3% on NSE.
It listed at Rs 750 on BSE vs issue price of Rs 529.
The company listed at a premium of 41.8% on BSE.
Market breadth was skewed in favour of sellers. Around 2,224 stocks declined, 1,064 stocks advanced, and 142 stocks remained unchanged on BSE.
At pre-open, the NSE Nifty 50 was trading 0.09% lower at 24,829.30, and the BSE Sensex was trading 0.24% lower at 80,989.41.
The yield on the 10-year bond opened flat at 6.86%.
It closed at 6.85% on Friday.
Source: Bloomberg
Rupee opened flat at 83.96 against the US dollar.
It closed at 83.95 on Friday.
Source: Bloomberg
Oriana Power Ltd. received order worth Rs 520 crore from Dalmia Cement
Contract is for development of solar power plant with 128 megawatt capacity
Alert: Dalmia Cement is a subsidiary of Dalmia Bharat
Source: Exchange filing
Adani Green Energy Ltd. redeemed $750 million or 4.4% Holdco Notes due September 8, 2024.
Source: Exchange filing
Domestic steel prices remain range-bound, brokerage expects continued downward pressure
Morgan Stanley believes lower imports prices will continue to pressure domestic prices
Domestic inventory de-stocking to be slow in near term
The brokerage believes underperformance in steel stocks will continue supported by unfavorable valuations
Steel companies see no material improvement in inventory levels and spreads
India is at inflection point of growth and policy giving immense opportunities.
The target of 42 million ton per annum by Sept 2027 and 50 mtpa by financial year 2030-31.
Energy business has grown from 4.6GW in financial year 2019-20 to 7.3 gigawatt in FY24 with 2.6 gigawatt under construction.
Thermal continues to be important for India while hydrogen technology is still evolving.
India's macro story remains strong
Growth uptick is led by a capex cycle which has headroom to expand
Strong performance of Indian markets is due to domestic flows
Domestic investor flows has legs but toppish in near term
Expect foreign flows to provide cushion to Indian markets
Cautious on Indian equities in the near term
Overweight: telecom, banks, staples, 2W and power
Long term also like Industrials and Real Estate
Motilal Oswal Financial Services maintained a 'Buy' on Persistent Systems with a target price Rs 6,300, which implied a 21% upside.
Targeting a revenue of $2 billion by financial year 2026-27.
The company is implementing strict cost management strategies
Persistent Suystems is benefitting from vendor consolidation and high demand areas
Aims to increase European share from 7-8% to 12%
Expect 18% dollar revenue growth upto financial year 206-27 and 21% EPS CAGR
Citi Research maintained 'Sell' on Lupin Ltd. with a target price Rs 1,700
The company’s generic launch in April 2025 may now be an “At Risk” launch
Generic share generally remains low in "At Risk" launch vs a normal launch
Lupin may also decide to delay the launch of generic
gJynarque contributes c30% of our FY26E EPS
Nazara Tech Acquires 48.42% Stake In Paper Boat Apps
Indigo Paints: Peak XV Partners Investments V sold 54.48 lakh shares (11.44%) at Rs 1,489.35 apiece and 50.51 lakh shares (10.61%) at Rs 1,475.96 apiece. Arisaig Asia Fund Ltd. bought 8.06 lakh shares (1.69%) at Rs 1,475.51 apiece and HDFC Mutual Fund bought 10.04 lakh shares (2.11%) at Rs 1,470 apiece. Mercer QIF Fund Plc-Mercer Investment Fund bought 3.18 lakh shares (0.66%) at Rs 1,475.51 apiece, while Morgan Stanley Asia (Singapore) Pte.-Odi bought 3.08 lakh shares (0.64%) at Rs 1,491.88 apiece.
Shriram Pistons & Rings: Theleme India Master Fund Ltd. bought 4.84 lakh shares (1.10%) at Rs 2,176 apiece and DSP Mutual Fund bought 4.40 lakh shares (1%) at Rs 2,197.6 per share. Luv D. Shriram sold 6.60 lakh shares (1.50%) at Rs 2,181.77 apiece and Meenakshi Dass sold 6.60 lakh shares (1.50%) at Rs 2,197.60 apiece.
VST Industries: Maithan Alloys Ltd. bought 1.12 lakh shares (0.72%) at Rs 485.57 apiece, SBI Mutual Fund sold 4.46 lakh shares (2.89%) at Rs 485.35 apiece and Derive Trading & Resorts Pvt. sold 1.29 lakh shares (0.83%) at Rs 480.57 apiece.
Max Financial Services: Promoter Max Ventures Investment Holdings Pvt. sold 1.1 crore shares on Sept. 5.
Ambuja Cement: Promoter Anubhuti Value Fund 1 (Ameet Desai, independent director, is also partner of Anubhuti Advisors LLP, investment manager of the fund) sold 2.62 lakh shares between Sept. 2 and Sept. 3.
Vascon Engineers: Promoter Navin Hari Singh Thakur sold 20,000 shares between Aug. 21 and Sept. 4.
Usha Martin: Promoter Peterhouse Investments India Ltd. sold 4 lakh shares on Sept. 5.
Shalimar Paints: Promoter Veera Gupta sold 1.95 lakh shares between Sept. 3 and Sept. 6.
Infosys: Promoter Anand Swaminathan sold 25 lakh shares on Sept. 3.
Mazagon Dock Bags Order Worth Over Rs 1,486 Crore From ONGC
Price band change from 10% to 20%: Balu Forge Industries.
Price band change from 20% to 10%: Nectar Lifesciences, Rama Steel Tubes, Refex Industries.
Price band change from 10% to 5%: Kitex Garments, Pondy Oxides & Chemicals.
Ex dividend: Harsha Engineers International, Jindal Worldwide, Lumax Industries, Nitin Spinners, Waaree Renewable Technologies.
Ex/record dividend: Capri Global Capital, Gujarat State Fertilizers & Chemicals, Gujarat Gas, Lumax Auto Technologies, Strides Pharma Science.
Moved in short-term ASM Framework: Nectar Lifesciences, Rama Steel Tubes, SEPC, Swelect Energy Systems.
SpiceJet And Carlyle Aviation Enter Agreement For Aircraft Lease Restructuring
Gala Precision Engineering: Shares of the company will list on stock exchange today. The issue price for the listing has been set at Rs 529 per share.
Busy Week Ahead On India's Primary Market — 13 IPOs To Open And Eight Listings
Metro Brands Promoters Offload Stake Worth Rs 750 Crore
RBM Infracon Secures Service Order Worth Rs 3,498 crore From ONGC
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