Stock Market Today: All You Need To Know Before Going Into Trade On Sept. 16
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Markets in Australia gained on Monday while traders parsed economic data that came from China over the weekend. They also await the Federal Reserve's policy outcome this week.
The S&P ASX 200 was trading 0.50% higher at 8,139.40 as of 06:19 a.m. Markets in Japan, South Korea, and Mainland China are closed on Monday.
China's factory output, consumption, and investment slowed more than expected in August, highlighting a further slowdown in the world's second largest economy, Bloomberg reported. Moreover, unemployment rate hit a six-month high in China.
The Federal Reserve is expected to deliver a 25 basis-point rate cut after its two-day policy meeting on Sept 18. Market participants will be assessing comments from the Fed Chair Jerome Powell to get clues about the future course of monetary policy.
The S&P 500 and Nasdaq Composite ended 0.54% and 0.65% higher, respectively. The Dow Jones Industrial Average ended 0.72% on Friday.
Brent crude was trading 0.06% higher at $71.65 a barrel. Gold rose 0.16% to $2,581.88 an ounce as of 06:25 a.m.
The GIFT Nifty was trading 0.11% or 28 points higher at 25,445.00 as of 06:31 a.m.
The NSE Nifty 50 and the S&P BSE Sensex ended Friday's session in loss as Reliance Industries Ltd. and ITC Ltd. dragged. However, the Indian benchmark stock indices recorded the most weekly gains since June end.
The Nifty ended 32.40 points or 0.13% lower at 25,356.50 and the Sensex settled 71.77 points or 0.09% lower at 82,890.94.
Overseas investors remained net buyers of Indian equities for the fifth consecutive day on Friday. Foreign portfolio investors mopped up equities worth Rs 2,364.8 crore, while domestic institutional investors turned net buyers after a day of selling and bought equities worth Rs 2,532.2 crore, according to provisional data from the National Stock Exchange.
The Indian currency strengthened by 7 paise to close at 83.90 against the US dollar.
Stocks To Watch
Dixon Technologies (India): The company’s arm Padget signed an MoU with Asus for manufacturing IT products.
Zaggle Prepaid Ocean Services: The company has entered into an agreement with Founderlink Tech to provide business loans to Zaggle Corporate customers.
RPG Life Sciences: The company has assigned the surplus leasehold of a Navi Mumbai land parcel to KRSNA Dynasty for Rs 145 crore.
CDSL: The board has approved the appointment of Nehal Vora as managing director and chief executive officer for five years.
Exide Industries: The company invested Rs 100 crore in a wholly owned subsidiary on Friday by way of subscription in the equity share capital on a rights basis.
Trident: The company has incorporated a unit in Singapore to expand business in the global market.
HEG: The company has sanctioned an increase in the investment to Rs 250 crore from the previous limit of Rs 200 crore to facilitate portfolio expansion.
GMR Airports Infrastructure: The company's August passenger traffic stood at 1.06 crore, up 9% year-over-year, and August aircraft movement up 8% year-on-year.
Laurus Labs: The US FDA inspected the company's Hyderabad API facility and closed with zero observations.
Systematix Corporate: The company will allot up to 6.7 lakh shares to non-promoters on a preferential bases at Rs 1,531 per share.
Adani Power: Maharashtra State DISCOM issued LoI for 6,600 MW solar power capacity, the largest in the world, to the company.
JSW Energy: Company’s unit completed commissioning 300 MW wind power capacity at Tuticorin, Tamil Nadu.
Goodluck India: The company inaugurated precision pipes manufacturing plant in Uttar Pradesh.
Thermax: The company's arm has received an international order worth Rs 516 crore for the supply of two industrial boilers.
HUL: The company filed plea in Bombay High Court against Rs 963 crore tax demand.
Ester Industries: The company approved allotment of fully convertible warrants to promoters aggregating up to Rs 175 crore.
Lumax Auto: The company proposed acquisition of majority shareholding in Greenfuel Energy Solutions Private Ltd. Lumax and Greenfuel’s management to work as strategic partners and leverage competitive strengths to unlock potential of Business. Acquisition will be EPS and ROCE accretive to Lumax.
Adani Green: CFO Phuntsok Wangyal resigns effective Sept. 30. Saurabh Shah to assume the role of CFO from Oct. 1.
Five Star Business: Rangarajan Krishnan and Srikanth Gopalakrishnan appointed as joint managing directors of the company.
JTL Industries: Madan Mohan reappointed as Managing Director, Rakesh Garg as a Whole-time Director, and Sukhdev Raj Sharma as an Independent Director for the second term for a period of five years.
Nazara Technologies: Board meeting to be held on Sept. 18 to consider and approve fund raising and other business.
Spandana Sphoorty: The company approved the sale of stressed loan portfolio including written off loans, aggregating Rs 304.41 crore.
Reliance Infra: The company received intimation from JC Flowers Asset Reconstruction Pvt. that it has assigned its entire exposure of the Co to Invent Assets Securitisation and Reconstruction Pvt.
Listing Day
Bajaj Housing Finance: The company's shares will debut on the stock exchanges on Monday. The Rs 6,560-crore IPO was subscribed 63.61 times on its third and final day. Bids were led by institutional investors (209.36 times), followed by non-institutional investors (41.51 times), reserve for shareholders (17.53 times), retail investors (7.04 times) and portion reserved for employees (2.05 times).
Tolins Tyres: The company's shares will debut on the stock exchanges on Monday at an issue price of Rs 226 apiece. The Rs 230-crore IPO was subscribed 23.89 times on its third and final day. The bids were led by non-institutional investors (27.41 times), institutional investors (25.42 times) and retail investors (21.52 times).
Kross: The company's shares will debut on the stock exchanges on Monday at an issue price of Rs 240 apiece. The Rs 500-crore IPO was subscribed 16.81 times on its third and final day. The bids were led by institutional investors (23.32 times), non-institutional investors (22.24 times) and retail investors (10.76 times).
IPO Offering
Western Carriers (India): The public issue was subscribed 0.79 times on day 1. There bids were led retail investors (1.41 times), followed by non-institutional investors (0.38 times).
Arkade Developers: The company will offer its shares for bidding on Monday. The price band is set from Rs 121 to Rs 128 per share. The Rs 410-crore IPO issue is entirely a fresh Issue. The company raised 122 crores from anchor investors.
Northern Arc Capital: The company will offer its shares for bidding on Monday. The price band is set from Rs 249 to Rs 263 per share. The Rs 777-crore IPO issue is combination of a fresh Issue of Rs 500 crore and rest offer for sale. The company raised 228 crores from anchor investors.
Block Deals
Edelweiss Financial Services: Edelweiss Employees Welfare Trust sold 98.79 lakh shares (1.04%) at Rs 124 apiece, while Abu Dhabi Investment Authority bought 35.68 lakh shares (0.37%) at Rs 124 apiece and Ashoka India Equity Investment Trust Plc bought 6.6 lakh shares (0.06%). India Acorn Icav bought 53.73 lakh shares (0.56%) and India Acorn Icav - Ashoka Whiteoak Emerging Markets Equity Fund bought 2.76 lakh shares (0.02%).
Jagsonpal Pharma: Infinity Holdings sold 22 lakh shares (8.39%) at Rs 400 apiece, Infinity Portfolio Holdings bought 22 lakh shares (8.39%).
Bulk Deals
Senco Gold: Jai Hanuman Shri Siddhivinayak Trust sold 7.5 lakh shares (0.96%) at Rs 1,227.88 apiece
Edelweiss Financial Services: Edelweiss Employees Welfare Trust sold 50 lakh shares (0.53%) at Rs 114.12 apiece.
Godrej Agrovet: V-Sciences Investments sold 27.1 lakh shares (1.4%) at Rs 785.13 apiece.
Patanjali Foods: GQG Partners Emerging Markets Equity Fund bought 45.03 lakh shares (1.24%) at Rs 1,854 apiece and Patanjali Ayurved sold 97.92 lakh shares (2.7%) at Rs 1,854.08 apiece.
Medi Assist Healthcare Services: Medimatter Health Management sold 33.3 lakh shares (4.74%), HDFC Mutual Fund bought 12.5 lakh shares (1.78%), ICICI Prudential Mutual Fund bought 5 lakh shares (0.71%) and Aditya Birla Sun Life Mutual Fund bought 4 lakh shares (0.57%) at Rs 635 apiece.
Insider Trades
Lancer Container Lines: Promoter Abdul Khalik Abdul Kadar Chataiwala (Revised) bought 1,63,353 shares.
Advanced Enzyme Technologies: Promoter Madhusudan Kabra sold 1 lakh shares on Sept. 11.
Sapphire Foods: Promoter Sagista Realty Advisors (As Trustee Of Qsr Management Trust) sold 2 lakh shares on Sept. 11.
Pledge Share Details
India Cements: Promoter EWS Finance & Investments created a pledge for 29.41 lakh shares on Sept. 11.
Star Cements: Promoter Amritansh Chamaria created a pledge for 2 lakh shares on Sept. 4.
Wardwizard Innovations & Mobility: Promoter Wardwizard Solutions India Pvt. created a pledge for 2.72 lakh shares on Sept. 11.
Who’s Meeting Whom?
MAS Financial Services: To meet analysts and investors on Sept. 23.
AIA Engineering: To meet analysts and investors on Sept. 18.
Biocon: To meet analysts and investors on Sept. 18.
Gail (India): To meet analysts and investors on Sept. 23.
Lupin: To meet analysts and investors on Sept. 20.
Adani Green: To attend Standard Chartered Credit Conference, equity investor meeting organised by IIFL Securities and Barclays on Sept. 23.
Gopal Snacks: To meet Allspring Global Investments LLC on Sept. 19.
Syngene: To attend Macquarie Healthcare Conference on Sept. 18.
Aegis Logistics: Interacting with analysts and investors in person on Sept. 18.
Uniparts India: To meet ‘i-thought PMS’ on Sept. 18.
Vedant Fashion: To meet investors and analysts on Sept. 18.
F&O Cues
Nifty September futures up by 0.06% to 25,372 at a premium of 16 points.
Nifty September futures open interest down by 1.6%.
Nifty Bank September futures up by 0.32% to 51,929 at a premium of 10 points.
Nifty Bank September futures open interest up by 0.43%.
Nifty Options Sept. 19 Expiry: Maximum call open interest at 26,000 and maximum put open interest at 25,000.
Bank Nifty Options Sept. 18 Expiry: Maximum call open Interest at 52,000 and maximum put open interest at 49,000.
Securities in ban period: Aarti Industries, Balrampur Chini Mills, Bandhan Bank, Chambal Fertilizers, Granules, Hindustan Copper, RBL Bank.
Money Market
The Indian rupee strengthened against the US dollar on Friday as easing retail inflation built a stronger case for a possible earlier than expected rate cut by the Reserve Bank of India.
The rupee appreciated seven paise to close at Rs 83.90 after opening at Rs 83.92 against the US dollar, according to Bloomberg data. The domestic currency had closed at Rs 83.97 on Thursday.
