Stock Market Today: All You Need To Know Before Going Into Trade On Sept. 10

Most markets in Asia-Pacific rebounded on Tuesday morning, tracking an overnight rise in US stocks as investors prepare for US inflation print for August. The US CPI data is scheduled to be released on Wednesday.

Market participants in Asia-Pacific await trade data from China as well, slated for release later today.

The Nikkei 225 was trading 124.13 points or 0.34% lower at 36,091.62 as of 06:25 a.m. The S&P ASX 200 and KOSPI were trading 0.68% and 0.10% higher, respectively.

The US markets rose on Monday as the Wall Street tried to recover from the steep losses suffered last week. The stocks rebounded as buyers scooped stocks at bargain after the selloff last week.

Both the S&P 500 and Nasdaq Composite ended 1.16% higher on Monday. The Dow Jones Industrial Average settled 1.20% higher.

The November contract of brent crude was trading 0.17% higher at $71.96 per barrel as of 06:29 a.m. The Gold was trading 0.03% lower at $2,505.06.

The GIFT Nifty was trading 0.38% or 94.50 points higher at 25,074.50 as of 06:30 a.m.

The benchmark stock indices reversed losses to close higher on Monday, buoyed by financial stocks. The NSE Nifty 50 closed 84.25 points or 0.34% higher, at 24,936.40 to snap a three-session fall. The S&P BSE Sensex closed 375.61 points or 0.46%, up at 81,559.54, reversing a four-day decline.

Overseas investors turned net buyers of Indian equities on Monday after being net sellers for two consecutive sessions. Foreign portfolio investors mopped up equities worth Rs 1,176.6 crore, while domestic institutional investors stayed net buyers for the sixth consecutive session and purchased equities worth Rs 1,757 crore, according to provisional data from the National Stock Exchange.

The Indian currency closed flat at 83.95 against the US dollar.

• Pharma Companies: The GST rate on cancer drugs, namely Trastuzumab, Deruxtecan, Osimertinib, and Durvalumab, will be reduced from 12% to 5%. Abbott India, Zydus Lifesciences, Alkem Laboratories, Cipla, Biocon, and AstraZeneca Pharma India are the stocks likely to be impacted.

• Snack-making companies: The GST rate for extruded or expanded savoury snacks will be reduced from 18% to 12%. Prataap Snacks, Bikaji Foods International, and Gopal Snacks will likely be impacted.

• Bharat Seats: The GST rate for car seats will increase from 18% to 28%. The company will be impacted by this move.

• PNB Housing Finance: The board has approved the issuance of non-convertible debentures up to Rs 2,500 crore on a private placement basis, in tranches over the next six months.

• Ahluwalia Contracts: The company has received two contracts worth Rs 1,307 crore from SignatureGlobal for housing projects in Gurugram.

• Easy Trip Planners: The board of directors of the company is scheduled to meet on Sept. 13 to consider the proposal for multiple acquisitions.

• Piccadily Agro Industries: The company has allotted 28.49 lakh compulsory convertible debentures. The company has also allotted 6.72 lakh convertible warrants at an issue price of Rs. 744 each.

• Paisalo Digital: The company's board will meet on Sept. 12 to consider the issuance of listed commercial papers through a private placement basis and allotment of commercial papers through a private placement basis. 

• Hindustan Aeronautics: The Ministry of Defence has signed a Rs 26,000 crore contract with HAL for 240 AL-31FP Aero Engines for Su-30MKI aircraft.

• GMR Airports: The company will acquire a 10% stake in Delhi International Airport from Fraport AG for $126 million. The company's stake in the airport will increase to 74%.

• Awfis Space Solutions: The company is selling its Facility Management division, ‘Awfis Care,’ to SMS Integrated Facility Services Private Ltd. for a total consideration of Rs 27.50 crore.

• Action Construction: The company has received an order for 99 forklifts from the Defence Ministry.

• BF Utilities: Toll operations of the company's arm, Nandi Highway Developers, ceased with effect from Sept. 7.

• Hero MotoCorp: Ather Energy Ltd., an associate company of the company, has filed a draft red hearing prospectus with SEBI, BSE, and NSE Ltd. The IPO will consist of a fresh issue of equity shares aggregating up to Rs 3,100 crore along with an offer for sale of 2.20 crore equity shares by certain existing and eligible shareholders of Ather Energy.

• IRB Infra Developers: The company's August toll collection was up 20% year-on-year at Rs 503 crore.

• Arvind: The company has made a further investment of Rs 48 crores by way of subscribing to equity shares of its wholly owned subsidiary, Arvind Technical Products Pvt Ltd., on a rights basis.

• Dixon Technologies: The company has signed a MoU with HP India Sales for manufacturing notebooks, desktops, and all-in-one PCs.

• HG Infra Engineering: The company gets a letter of approval for a road project worth Rs 781 crore from the Transport Ministry.

• Premier Energies: The company has received an order worth Rs 215 crore for solar water pumping systems from the Uttar Pradesh Agriculture Department.

• Tata Power: TP Solar Ltd., a step-down subsidiary of the company, has commenced production of 2 GW of solar cells at its manufacturing facility in Tamil Nadu's Tirunelveli district.

• Religare Enterprises: Mumbai Police registers an FIR against three senior officials, including Executive Chairperson Rashmi Saluja, based on an ED complaint. FIR also mentions Group CFO Nitin Aggarwal and Group General Counsel Nishant Singhal. The FIR was filed alleging offences under sections 420 and 120B of IPC and the concerned officials have denied the allegations made in the FIR. Financial impact on the company is not quantifiable at this stage.

• Aarti Drugs: Buyback worth Rs 60 crore to open on Sept. 11 and close on Sept. 18.

• Mastek: SMALLCAP World Fund Inc. has sold a 5.9% stake in Mastek Ltd., thereby reducing its holding in the company to 1.8%.

• IREDA: The company signs an MoU with SJVN and GMR for a 900 MW hydropower project in Nepal.

• Sona BLW: The company raises Rs 2,400 crore via QIP and allots 3.5 crore shares to QIBs at an issue price of Rs 690 per share.

• Brigade Enterprises: Unknown persons have circulated letters to the general public by copying or imitating the letterhead of the company. These letters relate to buying opportunities of the company’s equity shares at a discount through a third party.

• AU Small Finance Bank: India Ratings and Research Private has reaffirmed the rating of IND AA/Stable for the long-term debt instruments (Tier-II Bonds) of the bank. The bank has entered into a corporate agency agreement with Kotak Mahindra Life Insurance Company Ltd. to provide life insurance solutions to the bank's customers. This tie-up will enable the bank's customers to access a wide range of life insurance products from Kotak Mahindra Life Insurance.

• Zaggle Prepaid Ocean Services: The company has agreed with HDFC ERGO General Insurance Company Ltd. for the reward platform 'Zaggle Propel'.

• Lemon Tree Hotels: The company has signed a new property in Nashik through its subsidiary Carnation Hotels Private. The property will open in the financial year 2026.

• Kalpataru Projects: The allotment of equity shares of Kalpataru Power Do Brasil Participacoes S.A., Brazil, a wholly owned subsidiary of the company, pursuant to the conversion of the outstanding loan granted to KPBPSA.

• Kross: Kross Ltd. opened for bidding on Monday and was subscribed 0.88 times or 88%, led by retail investors. The company is looking to mop up Rs 500 crore. The offering consists of a fresh issue as well as an offer for sale, each worth Rs 250 crore.

• Tolins Tyres: Tolins Tyres Ltd. has been subscribed 1.8 times on the first day on Monday, led by demand from retail investors. The company is looking to raise Rs 230 crore via the offering, which consists of a fresh issue of equity shares worth Rs 200 crore and an offer for sale worth Rs 30 crore.

• Shree Tirupati Balajee Agro: Shree Tirupati Balajee Agro Trading Co. was subscribed 124.75 times on the third and final day on Monday. It was subscribed 15.16 times on its second day of subscription and 6.36 times on the first day.

• Bajaj Housing Finance: Bajaj Housing Finance Ltd.'s initial public offer was subscribed 2.02 times on the first day on Monday. The three-day offer entails a fresh issue of equity shares worth Rs 3,560 crore and an offer for sale worth Rs 3,000 crore from its owner, Bajaj Finance Ltd.

• Trent: Dodona Holdings Ltd sold 10.2 lakh shares at Rs 7,020 per share, while Siddharth Yog bought 10.2 lakh shares at Rs 7,020 per share.

• ECOS Mobility: Plutus Wealth bought 4 lakh shares at Rs 460 apiece.

• Electrosteel Cast: India Opportunities Growth Ltd sold 1.05 crore shares at Rs 209 apiece.

• Camlin Fine Sciences: Promoter Infinity Direct Holdings sold 13.38 lakh shares and promoter Infinity Holdings sold 6.63 lakh shares on Sept. 4.

• Usha Martin: Promoter Peterhouse Investments Ltd. sold 10 lakh shares on Sept. 6.

• NRB Bearings: Promoter Harshbeena Zaveri bought 28,000 shares on Sept. 4, while promoter Harshbeena Zaveri bought 24,000 shares on Sept. 6.

• General Insurance Corporation of India: Promoter The President of India, acting through and represented by the Ministry of Finance, Government of India sold 59.43 crore shares between Sept. 4 and Sept. 5.

• Sonata Software: Promoter Rajsekhar Datta Roy sold 48 thousand shares between Sept. 3 and Sept. 6.

• Sapphire Foods: Promoter Vijay Jain sold 1.47 lakh shares and promoter Sanjay Purohit sold 2.33 lakh shares on Sept. 6.

• 360 One WAM: Promoter Anirudha Taparia sold 25 thousand shares on Sept. 6.

• ADF Foods: Promoter Parul Bimal Thakkar revoked a pledge for 3.50 lakh shares on Sept. 6.

• Price band change from 10% to 5%: Radhika Jeweltech Ltd., Premier Energies Ltd., Syncom Formulations (India) Ltd.

• Ex/record buyback: Jai Corporation.

• Ex dividend: Manali Petrochemical Ltd., MSTC Ltd., Syrma SGS Technology Ltd.

• Ex/record dividend: Vedanta Ltd.

• List of securities shortlisted in the ASM Framework: Kitex Garments Ltd.

• Varroc Engineering Ltd.: To meet analysts and investors on Sept. 13

• Interarch Building Products Ltd.: To meet analysts and investors on Sept. 16

• Apar Industries Ltd.: To meet analysts and investors on Sept. 13

• Uflex Ltd.: To meet analysts and investors on Sept. 12

• Axis Bank Ltd.: To meet analysts and investors on Sept. 13

• Syngene International Ltd.: To meet analysts and investors on Sept. 12

• Ujjivan Small Finance: To meet analysts and investors on Sept. 13

• Godrej Properties Ltd.: To meet analysts and investors on Sept. 18

• Divgi Torqtransfer Systems Ltd.: To meet analysts and investors on Sept. 13

• Bluejet Healthcare Ltd.: To meet analysts and investors on Sept. 12

• Mahindra Holidays and Resorts: To meet analysts and investors on Sept. 19

• Sapphire Foods India Ltd.: To meet analysts and investors on Sept. 13

• Indegene Ltd.: To meet analysts and investors on Sept. 12

• Dixon Technologies (India) Ltd.: To meet analysts and investors on Sept. 17

• Aegis Logistics: To meet analysts and investors Sept.13

• Symphony Ltd.: To meet analysts and investors Sept. 12

• United Spirits Ltd.: To meet analysts and investors Sept. 19, 23, 24

• Kotak Mahindra Bank Ltd.: To meet analysts and investors on Sept. 12

• Landmark Cars Ltd.: To meet analysts and investors 10th Sept. 10

• Persistent Systems Ltd.: To meet analysts and investors Sept. 12, 18, 20

• Adani Ports & Special Economic Zone Ltd.: To meet analysts and investors Sept. 17

• Crompton Greaves & Consumer Electricals Ltd.: To meet analysts and investors Sept. 10,11,12

• Bansal Wire Industries Ltd.: To meet analysts and investors Sept. 12

• Mastek Ltd.: To meet analysts and investors Sept. 10

• Nifty September futures rose by 0.35% to 24,985 at a premium of 48.6 points.

• Nifty September futures open interest fell by 3.92%.

• Nifty Bank September futures rose by 1% to 51,267.4 at a premium of 149.6 points.

• Nifty Bank September futures open interest fell by 6.18%.

• Nifty Options Sept. 12 Expiry: Maximum call open interest at 26,000 and maximum put open interest at 24,000.

• Bank Nifty Options Sept. 11 Expiry: Maximum call open interest at 52,900 and maximum put open interest at 46,000.

• Securities in ban period: Aditya Birla Fashion and Retail, Balarampur Chini Mills, Bandhan Bank, Biocon, Chambel Fertilizers, Hindustan Copper, RBL Bank.

The Indian rupee closed little changed against the US dollar on Monday amid expectations of continued intervention from the Reserve Bank of India.

The rupee closed flat at 83.95 against the US dollar after opening at Rs 83.96 against the US dollar, according to Bloomberg data. The domestic currency had closed at Rs 83.95 on Friday.

• Kross IPO - Issue Details, Peer Comparison, Financials, Strategies, Risks And More: Anand Rathi

• Bajaj Housing Finance IPO - Issue Details, Financials, Investment Rationale, Risks And Concerns: Motilal Oswal

• Kross IPO - Issue Details, Financials, Strengths, Risks, Investment Rationale And More: DRChoksey

• Bajaj Housing Finance IPO - Valuation, Issue Details, Financials, Key Positives, Strengths: Nirmal Bang

• VA Tech Wabag - ‘Riding The Wave'; Axis Securities Initiates Coverage With A 'Buy' Rating

• RR Kabel - Wired For Growth; Yes Securities Initiates Coverage With A 'Buy' Rating

• Karur Vysya Bank - Well Placed On LDR, Growth, Asset Quality, RoA Superiority: ICICI Securities

•  Persistent Systems - Worries On Margins To Recede: Motilal Oswal

•  AU SFB - Applies For Universal Bank License; Merger Integration With E-Fincare On Track: Nirmal Bang

• Bajaj Housing Finance IPO - Issue Details, Financials, Peer Comparison, Strategies, Risks And More: DRChoksey

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