Stock Market Today: All You Need To Know Going Into Trade On Sept. 26

Asia-Pacific share indices continued to gain on Thursday as weak Japanese yen, and China stimulus supported two large stock markets in the region, Bloomberg reported.

The Nikkei 225 was trading 690.08 points or 1.82% higher at 38,560.34, and the S&P ASX 200 was 48.30 points or 0.59% higher at 8,174.70 as of 06:21 a.m.

On Wednesday, the S&P 500 and Dow Jones Industrial Average ended 0.19% and 0.70%. The Nasdaq Composite settled 0.04% higher.

The November contract of brent crude was trading 0.10% higher at $73.53 a barrel. The spot Gold was 0.09% higher at $2,659.23 as of 06:23 a.m.

The GIFT Nifty was trading 51.50 points or 0.20% higher at 26,041.50 as of 06:30 a.m.

The NSE Nifty 50 and BSE Sensex recovered from the day's low in the last leg of the trade to end Wednesday at record close. HDFC Bank Ltd. and Axis Bank Ltd. added to the gains. This is the fourth consecutive session that India's benchmarks recorded fresh highs.

The Nifty 50 ended 63.75 points, or 0.25% higher at 26,004.15, and the Sensex ended up 255.83 points, or 0.30% at 85,169.87.

Overseas investors stayed net sellers of Indian equities for a second session. Foreign portfolio investors offloaded stocks worth Rs 973.94 crore, while domestic institutional investors stayed net buyers for a third session and purchased equities worth Rs 1,778.99 crore, as per NSE data.

The rupee appreciated by seven paise to close at 83.60 against the US dollar.

• Pharma Companies: India's apex drug regulatory body, the Central Drugs Standard Control Organisation, has flagged 53 drug samples for failing to meet quality standards. Major pharmaceutical companies, including Sun Pharma Laboratories Ltd., Glenmark Pharmaceuticals Ltd., and Alkem Health Science Ltd., are implicated in this quality lapse, according to the CDSCO’s August report.

• Five-Star Business: Holders of the company are looking to offload a 19.2% stake comprising 5.6 crore shares worth Rs 4,317 crore via a block deal at Rs 768 apiece. The deal has a lock-up period of 12 months for selling shareholders.

• ASK Automotive: The promoter plans to sell up to 6.05% stake via OFS, which will have a base offer of 5.5% and an oversubscription option of 0.5% at a floor price of offer set at Rs 433 per share. The offer will be open on Sept. 26-27.

• ONGC: The board approved Rs 10,501 crore investment in ONGC Petro additions.

• Vedanta: The board will consider the fourth interim dividend on Oct. 8.

• Hindustan Copper: The company approved the sale of the Malanjkhand copper ore tailing plant in Madhya Pradesh.

• Infosys: The company to establish Tech Hub for Sweden-based Polestar in Bengaluru.

• UNO Minda: The company arm is in a pact with Korea-based Hyundai Mobis to manufacture licensed products like speakers.

• Cipla: The company's UK-based arm has signed a pact to acquire a 6.9% stake held by Jiangsu Xidi Pharma in a China-based unit. Post-acquisition Jiangsu to become a wholly owned step-down subsidiary of the company.

• Zen Technologies: The company launched remote-controlled weapon and surveillance systems to strengthen India’s defence capabilities.

• IDFC: NCLT approved the merger of IDFC financial holdings with IDFC and the resulting entity's merger into IDFC First Bank.

• Adani Green Energy: Hibiscus Trade & Investment acquired a 1.27% stake in the company. Ardour Investment acquired a 1.69% stake in the company. Both acquirers belong to the promoter group.

• SpiceJet: Carlyle Aviation offloaded a 1.42% stake via open market deals this month.

• JBM Auto: The company incorporated unit JBM Electric Vehicles in Singapore to carry on the business in the automotive sector for electric vehicles internationally.

• Coromandel International: The company increased its stake in Senegal-based rock phosphate miner BMCC by 8.8%.

• Baazar Style Retail: The company opened a new store in West Bengal.

• PB Fintech: The company clarified that it has not made a decision yet on entering the healthcare space.

• Gillette India: The board approved the appointment of Anjuly Duggal as chairperson effective Sept. 29.

• Manba Finance: The public issue was subscribed to 224.10 times on final day. There bids were led non-institutional investors (511.65 times), qualified institutional investors (148.55 times) and retail investors (144.03 times).

• KRN Heat Exchanger and Refrigeration: The public issue was subscribed to 24.09 times on day 1. There bids were led non-institutional investors (53.88 times), retail investors (23.96 times), and qualified institutional investors (1.44 times).

• Diffusion Engineers: The company will offer its shares for bidding on Thursday. The price band is set from Rs 159 to Rs 168 per share. The Rs 158-crore IPO issue entirely a fresh Issue. The company raised 47 crores from anchor investors.

• Five-Star Business Finance: Goldman Sachs bought 5.52 lakh shares (0.18%) and Duro India Opportunities Fund Pte sold 5.52 lakh shares (0.18%) at Rs 824 apiece.

• HDFC Bank: UBS Principal Capital Asia bought 30.72 lakh shares (0.04%) and BNP Paribas Financial Markets sold 30.72 lakh shares (0.04%) at Rs 1,768.05 apiece.

• Pidilite Industries: The Vacuum Forming Company bought 9 lakh shares (0.17%) and Ajay Balvantray Parekh sold 9 lakh shares (0.17%) at Rs 3,262 apiece.

• Capacite Infraproject: Rahul Ramnath Katyal sold 3.75 lakh shares (0.44%) and Subir Malhotra bought 3.75 lakh shares (0.44%) at Rs 396 apiece.

• Edelweiss Financial Services: Edelweiss Employees Welfare Trust sold 18.37 lakh shares (0.19%) and Madhusilica bought 18.37 lakh shares (0.19%) at Rs 136.05 apiece.

• KPR Mill: SBI Mutual Fund bought 97.35 lakh shares (2.84%) at Rs 925 apiece and K P Ramasamy sold 105 lakh shares (3.07%) at Rs 925.12 apiece.

• SpiceJet: Vikasa India EIF I Fund sold 1 crore shares (0.78%) at Rs 63.13 apiece, and Societe Generale sold 83.56 lakh shares (0.65%) at Rs 62.9 apiece.

• Easy Trip Planners: Nishant Pitti sold 24.65 crore shares (13.91%) at an average price of Rs 37.64 apiece. Core4 Marcom bought 5 crore shares (2.82%) at Rs 37.95 apiece, and Craft Emerging Market Fund PCC-Elite Capital Fund bought 1.05 crore shares (0.59%) at Rs 34.25 apiece.

• Orient Technologies: Shyamsakha Broking Services bought 2.5 lakh shares (0.6%) at Rs 290 apiece.

• BCL Industries: Promoter Sunita Mittal sold 25 lakh shares and promoter Radhika Mittal sold 45,000 shares on Sept. 23.

• Shilpa Medicare: Promoter Vishnukant Chaturbhuj Bhutada created a pledge for 10 lakh shares, Promoter Omprakash Inani created a pledge for 2 lakh shares, Promoter Deepak Kumar Innani created a pledge for 6.75 lakh shares, Promoter Dharmavati Bhutada created a pledge for 6.75 lakh shares, Promoter Brijgopal Innani created a pledge for 2 lakh shares, and Promoter Ramakant Innani created a pledge for 6.75 lakh shares on Sept. 23.

• Price band change from 10% to 5%: Fusion Finance.

• Moved into short-term ASM: Reliance Power.

• Max Estates: To meet analysts and investors on Sept. 30.

• Cyient: To meet analysts and investors on Sept. 30.

• Updater Services: To meet analysts and investors on Sept. 30.

• Nifty September futures up by 0.19% to 25,998 at a discount of 6 points.

• Nifty September futures open interest up by 22.15%.

• Nifty Bank October futures up by 0.06% to 54,335 at a premium of 234 points.

• Nifty Bank September futures open interest down 20%.

• Nifty Options Sept. 26 Expiry: Maximum call open interest at 27,000 and maximum put open interest at 25,000. 

• Bank Nifty Options Sept. 25 Expiry: Maximum call open Interest at 54,100 and maximum put open interest at 54,100.

• Securities in ban period: Aditya Birla Fashion, Granules, Hindustan Copper, Vodafone Idea, IEX.

The Indian rupee closed stronger against the US dollar on Wednesday on steady foreign inflows. Global investors poured in Rs 10,291 crore in the cash market over the past week, marking this September the best month in terms of inflows in the last six months.

The rupee appreciated by seven paise to close at 83.60 against the US dollar, according to Bloomberg data.

• Diffusion Engineers IPO - Issue Details, Financials, Strengths, Risks, Peer Comparison And More: Anand Rathi

• Infosys - To Outperform Its Peers In Q2, With An Upside Risk To Its 3-4% FY25E Guidance: HDFC Securities

• Diffusion Engineers IPO - Issue Details, Valuations, Strategies, Risks, Financials And More: DRChoksey

• Piramal Pharma - Setting Precedence For Profitable Growth: ICICI Securities

• KRN Heat Exchanger IPO- Issue Details, Investment Rationale, Strategies, Financials, Risks & More: Anand Rathi

• SBI Cards - Pain Nearing End But Not Over Yet: Motilal Oswal

• MAS Financial - Prioritizing Profitability Over Growth, Geographic Expansion On The Card: Axis Securities

Disclaimer: NDTV Profit is a subsidiary of AMG Media Networks Limited, an Adani Group Company