All You Need To Know Going Into Trade On September 15
Most Asian stocks fell Wednesday amid growth concerns while Treasuries retained gains in the wake of inflation data that signaled flexibility for the Federal Reserve over when to start tapering stimulus.
Shares retreated in Japan and Australia, but edged higher in South Korea. U.S. futures rose. The S&P 500 and Nasdaq 100 declined overnight. The 10-year Treasury yield remained below 1.3%, narrowing the yield gap between short- and longer-maturity U.S. debt. Bonds in Australia and New Zealand also advanced. The dollar was steady.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance rose 0.09% to 17,408, as of 7:10 a.m.
U.S. inflation was less than forecast in August, supporting the view that pandemic-related price pressures could be transitory but leaving the overall argument undecided. A gauge of commodity prices remains around a decade-high, underscoring the rise in costs filtering across the global economy.
In China, investors are awaiting economic data that are likely to show the damage done from a Covid-19 outbreak. Elsewhere, oil gained after a U.S. industry report showed a decline in inventories of crude and gasoline, signaling a tightening market.
Stocks To Watch
Shree Cement: To set up integrated cement plant in Nawalgarh Tehsil of Rajasthan with clinker capacity of 3.8 Million Ton Per Annum and cement capacity of up to 3.5 MTPA. The plant will cost company Rs 3,500 crore. The proposed capacity will be added by quarter ended March 2024. The company will also set up solar power plants with capacity up to 106 MWp. The plants will be set to meet the captive power requirement of cement plants. Investment required for power plants estimated at Rs 500 crore. The proposed capacity to be set by quarter ending September 2022. Further, the company’s wholly owned subsidiary, Shree Cement East Pvt Ltd, will set up a clinker grinding unit with capacity of 3 MTPA in Purulia district of West Bengal. The unit will cost company Rs 750 crore.
LIC Housing Finance: Promoter Life Insurance Corporation of India's stake in the company increased to 45.239% from 40.313% post preferential allotment.
Power Finance Corporation: UBS Group AG increased stake in the company to 5.67% from 3.4% earlier, through the rights issue.
Jindal Steel & Power: CRISIL Ratings has upgraded the rating of the Long-Term Bank Facilities of the company to A+/positive from A-/stable. The rating agency also upgraded Short-Term Bank Facilities’ rating to A1+ from A2+.
Gail (India): The company is in process of accepting Letter of Intent and signing a Sale and Purchase Agreement with IL&FS to acquire 26% equity stake of IL&FS group in ONGC Tripura Power Company. After acceptance of LOI by GAIL and signing of SPA, IL&FS will send the proposal to NCLT. The transaction will be completed after NCLT approval.
UTI Asset Management Company: Board of Directors to meet on September 20 to consider and approve general matters of the company.
PI Industries: Shareholders have approved promotion of Rajnish Sarna from Whole-time Director to Joint Managing Director of the company w.e.f. May 18.
Pledge Share Details
Adani Ports and SEZ: Promoter group (Gautam Adani and Rajesh Adani) revoked pledge of 11.80 lakh shares on September 13.
Adani Green Energy: Promoter group (Gautam Adani and Rajesh Adani) created a pledge of 8 lakh shares on September 13.
Adani Enterprises: Promoter group (Gautam Adani and Rajesh Adani) created a pledge of 5.50 lakh shares on September 13.
Ajanta Pharma: Promoter Ravi Agrawal revoked pledge of 2.79 lakh shares on September 13.
Chambal Fertilisers & Chemicals: Promoter Zuari Global revoked pledge of 3 lakh shares on September 9.
As reported on September 14.
Zee Entertainment Enterprises: Rare Enterprises bought 50 lakh shares (0.52%) at Rs 220.44 per share. Bofa Securities Europe SA bought 48.65 lakh shares (0.51%) at Rs 236.2 per share.
Esab India: Pramerica Mutual Fund bought 2.70 lakh shares (1.75%) at Rs 2,235 per share. Acacia Conservation Fund LP sold 3.61 lakh shares at Rs 2,235.28 per share.
Apollo Tyres: Promoter Sunrays Properties and Investments Company sold 1 lakh shares on September 9.
Gati: Promoter TCI Finance sold 38,351 shares between September 9-14.
Karda Constructions: Promoter Naresh Karda sold 88 lakh shares between September 9-13.
Pil Italica Lifestyle: Promoter Dawood Investment sold 13.70 lakh shares on September 13.
Sequent Scientific: Promoter Aditya Kumar sold 40,000 shares between September 9-13.
Wipro: Promoter Tariq Azim Premji bought 9.10 lakh shares on September 13.
Who’s Meeting Whom
UltraTech Cement: To meet AIA Investment Management, Manulife Asset Management, and Skerryvore Asset Management on September 15.
Manappuram Finance: To attend Motilal Oswal Annual Global Investor Conference on September 15.
Poonawalla Fincorp: To meet Motilal Oswal AMC on September 15.
Brigade Enterprises: To meet Dalal & Broacha Stock Broking on September 15.
Ramco Systems: To attend DART India Virtual Conference Series 2021 organised by Dolat Capital Market on September 15.
Windlas Biotech: To meet analysts and investors on September 15.
Sterling Tools: To meet Dolat Capital Market on September 22.
Symphony: To meet Taiyo Pacific Partners on September 24.
Ex-Date AGM: Max Financial Services, Max Ventures and Industries, Gujarat Alkalies and Chemicals, eClerx Services, Hindustan Construction Company, Tanla Platforms, HSIL, Sandhar Technologies, Andhra Sugars, Bharat Heavy Electricals, Marksans Pharma, Everest Kanto Cylinder, Infibeam Avenue, Meghmani Organics, Meghmani Finechem, Amrutanjan Health Care, HBL Power Systems, Man Infraconstruction, Jagran Prakashan, Repco Home Finance, West Coast Paper Mills, Universal Cables, Bharat Bijlee, The Sandesh, Vindhya Telelinks, Kuantum Papers
Ex-Date Final Dividend: Tanla Platforms, Amrutanjan Health Care, Anupam Rasayan India, Aditya Vision, eClerx Services, Everest Kanto Cylinder, Infibeam Avenues, Marksans Pharma, Meghmani Organics, Repco Home Finance, Sandhar Technologies, West Coast Paper Mills, Zensar Technologies
Ex-Date Dividend: Nirlon, Gujarat Industries Power Co, Andhra Sugars, Bharat Bijlee, Gujarat Alkalies & Chemicals, HSIL, Shreyas Shipping & Logistics, Universal Cables, Vindhya Telelinks
Record Date Final Dividend: Sandur Manganese & Iron Ores, Maharashtra Seamless, Eldeco Housing & Industries
Record Date Bonus Issue: Mahindra Lifespace Developers
Move Into Short-Term ASM Framework: Reliance Capital, Cantabil Retail India, Meghmani Finechem
Move Out Of Short-Term ASM Framework: Sadbhav Infrastructure Project
Move Into ASM Framework: Sadbhav Infrastructure Project
Price Band Revised From 10% To 5%: DB Realty
Price Band Revised From 20% To 10%: Suryoday Small Finance Bank
Money Market Update
The rupee ended flat at 73.68 against the U.S. Dollar on Tuesday.
Nifty September futures ended at 17,387.00, a premium of 7 points
Nifty September futures added 1.11%. and 3,223 shares in Open Interest
Nifty Bank September futures ended at 36,710, a premium of 96.95 points
Nifty Bank September futures shed 0.60%, and 436 shares in Open Interest
Securities that continue to be on the ban list: Canara, Exide Industries, LIC Housing Finance, National Aluminium Company
Securities added to the ban list: Escorts, IRCTC, Vodafone Idea, Sun TV
Securities removed from the ban list: Indiabulls Housing Finance