Stocks To Watch: Adani Ports, SBI, SpiceJet, Vedanta, RIL, Tata Power, Kirloskar Oil
Stocks to watch before going into trade today.
U.S. stocks swung between gains and losses as the Federal Reserve hiked policy rates by 75 basis points for a third time. Treasuries advanced two basis points to 3.59%, while two-year yields topped 4%.
The S&P 500 was little changed, while the Nasdaq rose 0.1% after the Fed rate hike. Meanwhile oil erased gains ahead of the U.S. Fed policy announcement even as supply chains faced heightened pressure from Russia’s threat to escalate the Ukraine war. Gold rose 1%, whereas Bitcoin traded near its three-month low at around $19,000.
India's benchmark indices snapped their two-day winning streak, weighed down by losses across sectors. Commodities, capital goods, power, and utilities stocks led the downturn on Wednesday ahead of the U.S. Federal Reserve policy announcement.
Rupee briefly fell below the 80-mark, declining as much as 0.32% to hit the intraday low of 80.01 against the U.S. dollar.
At 7:55 am, the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- traded 0.8% lower at 17,574 points.
Stocks to Watch
Adani Ports And Special Economic Zone: The company has won a Rs 25,000 crore project to the Tajpur deep sea port in West Bengal. The greenfield project will see Rs 15,000 crore utilised toward port development and the rest toward building related infrastructure.
Meanwhile, Avantika Singh Aulakh, VC and CEO, Gujarat Maritime Board, has resigned from Adani Port’s board.
State Bank of India: State Bank of India has raised Rs 4,000 crore Basel III compliant Tier 2 bonds at coupon rate of 7.57%. The bonds have a tenor of 15 years with a call option after 10 years and on anniversary dates thereafter.
Reliance Industries: The company’s CFO Alok Agarwal plans to sell 2.25 lakh shares between May 10 to August 31, 2023. He also will gift 1.25 lakh shares between May 10 to May 31, 2023.
SpiceJet: Aviation regulator DGCA has extended the 50% limit on SpiceJet’s number of flight departures until Oct. 29 as a matter of ‘abundant caution’. The airline will be subjected to "enhanced surveillance" during this period, DGCA said.
Vedanta: The Union Cabinet has approved tweaks in the scheme for semiconductors and display manufacturing ecosystem. Under the modified program an uniform fiscal support of 50% of project cost shall be provided for semiconductor fabs across all technology nodes. The reformed scheme will also provide fiscal support of 50% of capital expenditure for setting up of compound semiconductors/silicon photonics/sensors/discrete semiconductors fabs.
Reliance Industries/Adani Enterprises/Tata Power: The Union Cabinet approved a Rs 19,500-crore production linked incentive scheme on 'national programme on high efficiency solar PV modules' with an aim to attract Rs 94,000 crore investment in the sector.
Kirloskar Oil Engines: The company will acquire balance stake in Ahmedabad-based La-Gajjar Machineries, making the latter a 100% subsidiary. It had acquired 76% stake in LGM in 2017 with an agreement that the balance holding will be acquired over a 5-year period.
Kirloskar Oil Engines has also appointed Anurag Bhagania as chief financial officer, with effect from Sept. 22.
Future Enterprises: The Registrar of Companies, Mumbai has granted the company an extension of three months for holding the AGM for fiscal ended March 2022, i.e., by December 31, 2022.
Megasoft: The company has paid over Rs 56 crore to Extrovis AG for 15.25% of additional equity stake in the second tranche of acquisition.
DLF: DLF Cyber City Developers, a material subsidiary unit of DLF, has allotted 5,000 NCDs to raise Rs 500 crore.
IDBI Bank: The bank has completed the sale of its entire stake in Ageas Federal Life Insurance Company to Ageas Insurance International NV. IDBI Bank sold 20 crore shares, representing 25% stake in AFLI, to Ageas.
Punjab National Bank: The bank has raised Rs 658 crore through Basel Ill compliant additional Tier-I capital bonds at a coupon of 8.3%.
Ashoka Buildcon: The company has won a project worth Rs 258.12 crore from South Western Railway for construction of new BG line, including electrical and telecommunication works, on engineering, procurement and construction mode. The project is to be completed within 24 months.
Heritage Foods: The board of the company will meet on Sept. 30 to consider and approve raising of funds by way of issue of equity shares on a rights issue basis.
PB Fintech: The company has invested around Rs 650 crore in its wholly owned subsidiary Policybazaar Insurance Brokers, and another Rs 250 crore in wholly owned subsidiary Paisabazaar Marketing and Consulting.
Triveni Engineering & Industries: The company has divested its entire stake in Triveni Turbine, representing 21.85% of the entire shareholding of the latter. The company sold 10% stake to Rati Sawhney, an existing promoter, and the remaining 11.85% stake to various global and domestic investors through block trading window.
KPI Green Energy: The company has a new received a new order from Greenlab Diamonds, Surat for executing wind-solar hybrid power project of 5.40 MW capacity under the 'captive power producer business segment.
Suzlon Energy: The company's board will meet on Sept. 25 to consider and approve the terms and conditions of the rights issue approved on Aug. 10, including determination of the price.
Adani Transmission: Aims to become a net-zero carbon emitter by 2050.
Mangalam Cement: Promoter Pilani Investment and Industries Corporation bought 4 lakh shares between Sept. 16 and Sept. 19., Promoter Vidula Consultancy Services bought 1 lakh shares on Sept. 20.
Adani Enterprises: Promoter Spitze Trade and Investment bought 3 lakh shares on Sept. 19.
Vaibhav Global: Promoter Group Brett Enterprises bought 4,000 shares on Sept. 20
Man Infraconstruction: Promoter Parag K Shah bought 1.84 lakh shares between Sept. 19 and Sept. 20.
Advanced Enzyme Technologies: Promoter Groups Advanced Vital Enzymes sold 25.88 lakh shares, Savita Chandrakumar Rathi sold 3.71 lakh shares, Piyush Chandrakumar Rathi sold 23,500 shares and Radhika Ashish Pujara sold 31,500 shares on Sept. 19.
Godrej Agrovet: Promoter Godrej Industries bought 9,360 shares on Sept. 16.
Adani Green Energy: Promoter Group Spitze Trade and Investment bought 10 lakh shares between Sept. 16 and Sept. 19.
Pledge Share Details:
Uflex: Promoter Group Flex International revoked a pledge of 25,000 shares on Sept. 20.
Dodla Dairy: Bharat Biotech International bought 20.26 lakh shares (3.41%), and TPG Dodla Dairy Holdings sold 18.31 lakh shares (3.08%) at Rs 525 each.
Triveni Turbine: Abu Dhabi Investment Authority bought 40.58 lakh shares (1.26%), Aditya Birla Sun Life Mutual Fund bought 37.74 lakh shares (1.16%), Government of Singapore bought 41.98 lakh shares (1.3%), Plutus Wealth Management bought 20.38 lakh shares (0.63%), SBI Mutual Fund bought 75.46 lakh shares (2.33%), The Nomura Trust and Banking Co. Ltd as the trustee of Nomura Indian Stock Mother Fund bought 31.99 lakh shares (0.99%) at Rs 226.7 each, Rati Sawhney bought 3.23 crore shares (10%) at Rs 229 apiece, Triveni Engineering And Industries sold 7.06 crore shares (21.85%) at Rs 227.75 apiece.
Dodla Dairy: Bharat Biotech International bought 20.26 lakh shares (3.41%), TPG Dodla Dairy Holdings sold 18.31 lakh shares (3.08%) and Sunil Reddy Dodla sold 1.95 lakh shares (0.33%) at Rs 525 each.
Triveni Turbine: Plutus Wealth Management bought 20.38 lakh shares (0.63%), Nomura India Investment Fund Mother Fund - The MTBJ AC Nomura India Inves FD bought 9.99 lakh shares (0.31%), Nomura Funds Ireland Public Limited Company - Nomura Funds Ireland - India Equity bought 13.7 lakh shares (0.42%), Abu Dhabi Investment Authority bought 40.58 lakh shares (1.26%), Aditya Birla Sun Life Mutual Fund bought 48.52 lakh shares (1.5%), Government of Singapore bought 41.98 lakh shares (1.3%), Invesco Mutual Fund bought 28.67 lakh shares (0.89%), Monetary Authority of Singapore bought 8.75 lakh shares (0.27%), The Nomura Trust and Banking Co. Ltd as the trustee of Nomura Indian Stock Mother Fund bought 31.99 lakh shares (0.99%), SBI Mutual Fund bought 90.43 lakh shares (2.8%), Sundaram Mutual Fund bought 37.49 lakh shares (1.16%), Employees Provident Fund managed by Nomura Asset Management bought 10.8 lakh shares (0.32%) at Rs 226.7 each, Rati Sawhney bought 3.23 crore shares (10%) at Rs 229 apiece, Triveni Engineering And Industries sold 7.06 crore shares (21.85%) at Rs 227.75 apiece.
Who’s Meeting Whom
Adani Enterprises: To meet GIC, Singapore on Sept. 23.
Finolex Industries: To meet investors and analysts on Sept. 22.
Greenpanel Industries: To meet investors and analysts on Sept. 22.
Arvind SmartSpaces: To meet investors and analysts on Sept. 22.
DCW: To meet investors and analysts on Sept. 22.
RITES: To meet investors and analysts on Sept. 22.
Amrutanjan Health Care
Gujarat Industries Power Company
Gujarat State Petronet
National Aluminum Co.
Sun Pharma Advanced Research
Record-Date Bonus: eClerx Services
Ex-Date Interim Dividend: Aegis Logistics, Bajaj Holdings And Investment, Maharashtra Scooters
Ex-Date Final Dividend: Asian Star Co, Aditya Vision, Bajaj Healthcare, Brightcom Group, Mrs. Bectors Food Specialities, Bodal Chemicals, Confidence Petroleum India, Dilip Buildcon, Mold-Tek Packaging, Polyplex Corp, Power Mech Projects, RailTel Corporation of India, Rail Vikas Nigam, Sangam (India), Satia Industries, Shankar Lal Rampal Dye-Chem, Steel Strips Wheels, Vakrangee, Vidhi Specialty Food Ingredients,
Ex-Date Bonus: Choice International
Ex-Date Dividend: Ganesha Ecosphere, Gujarat Mineral Development Corporation, HFCL, Marathon Nextgen Realty, Paisalo Digital, Rajesh Exports, Shipping corporation of India, Texmaco Rail and Engineering
Move Into Short-Term ASM Framework: Ambuja Cements, Jai Corp
Move Out Of Short-Term ASM Framework: Shivalik Bimetal Controls