All You Need To Know Going Into Trade On September 21
A selloff in stocks continued in Asia on Tuesday amid concern about China’s crackdown on the real-estate sector and the debt crisis at developer China Evergrande Group. Treasuries and the dollar held gains.
Japan slid after reopening following a holiday, while Australia also retreated. U.S. futures rose. The S&P 500 posted the biggest drop since May, though it pared some losses in the last hour of trading as dip-buyers surfaced. The Nasdaq 100 declined and a gauge of Chinese stocks listed in the U.S. tumbled.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance rose 0.15% to 17,399.50, as of 6:40 a.m.
Treasuries retained an advance and the dollar was firm as investors sought havens. Aside from worries over Evergrande’s ability to make good on $300 billion of liabilities, Wednesday’s Federal Reserve meeting also looms. Policy makers are expected to start laying the groundwork for paring stimulus.
The property-sector upheaval is part of President Xi Jinping’s broader clampdown on private industries under his “common prosperity” initiative to reduce economic inequality. Investors are awaiting clarity on how the debt mess at Evergrande will be resolved.
Elsewhere, Bitcoin slid and was trading below $42,000. Oil pared a slump and gold held onto gains.
Stocks To Watch
SBI Cards & Payment Services: CA Rover Holdings is selling 32 million shares in the company through a block trade, according to a Bloomberg report. Shares are being offered at Rs 1,021 to Rs 1,072.3 each. Price range represents 4.8% to no discount to Monday’s close.
Adani Ports and SEZ: The Competition Commission of India has approved proposed acquisition of 10.40% equity shareholding of Gangavaram Port by the company.
Cadila Healthcare: Zydus Healthcare, a wholly owned subsidiary of the company, has entered into an agreement with Integrace Pvt Ltd to sell two brands viz. Mifegest and Cytolog. The transaction is expected to be completed within 30 days from the date of execution of agreement subject to customary approvals.
HCL Technologies: The company announced a five-year, digital transformation deal with MKS Instruments Inc., a global provider of instruments, systems, subsystems, and solutions for advanced manufacturing processes, to improve performance, productivity, and speed to market.
The Mandhana Retail Ventures: Rakesh Jhunjhunwala sold additional 98,094 equity shares in the company between September 17-20, reducing shareholding to 10.32% from 10.77% earlier.
Kitex Garments: The company has signed the Memorandum of Understanding with Telangana Government for investing Rs 2,406 crore in the state. The investment is planned at Kakatiya Mega Textile Park, Warangal and Industrial Park, Sitarampur.
Action Construction Equipment: The company launched its QIP on Monday. The floor price of Rs 254.55 per equity share is at a premium of 2.62% to Monday closing price. The board will meet on September 23 to approve issue price.
Pledge Share Details
Adani Ports and SEZ: Promoters (Adani Tradeline LLP, Gautam Adani and Rajesh Adani) revoked pledge of 41 lakh shares on September 17.
Adani Transmission: Promoters (Adani Tradeline LLP, Gautam Adani and Rajesh Adani) revoked pledge of 1.87 crore shares on September 17.
JSW Holdings: Promoters (Siddeshwari Tradex and OPJ Trading) revoked pledge of 2.06 lakh shares between June 9-July 9.
As reported on September 20.
Gujarat Fluorochemicals: Inox Leasing and Finance bought 28.27 lakh shares (2.57%) at Rs 1,672.30 per share. Inox Chemicals LLP sold 8.08 lakh shares (0.74%) Rs 1,672.30 per share. Siddho Mal Trading LLP sold 20.19 lakh shares (1.84%) at Rs 1,672.30 per share.
Kolte-Patil Developers: PGIM India Mutual Fund bought 5 lakh shares (0.66%) at Rs 314.36 per share.
Windlas Biotech: Kuber India Fund sold 1.13 lakh shares at Rs 379.73 per share.
Alkyl Amines Chemicals: Promoter Yogesh Kothari sold 2.40 lakh shares on September 17.
Aegis Logistics: Promoter Trans Asia Petroleum Inc. bought 1 lakh shares on September 16.
Jindal Worldwide: Promoter Amit Agrawal bought 1 lakh shares on September 16.
Karda Constructions: Promoter Prem Karda sold 24 lakh shares on September 16.
STEL Holdings: Promoter Secura India Trust bought 39,000 shares between September 15-16.
Who’s Meeting Whom
Tata Power Company: To meet Morgan Stanley Investment Management and Marshall Wace Asset Management on September 21.
Gati: To meet ithought Financial Consulting and OysterRock Capital on September 21.
Gokaldas Exports: To meet DNB Asset Management and PineBridge Investments on September 21 and Carnelian Capital on September 23.
IOL Chemicals and Pharmaceuticals: To meet PhillipCapital on September 21.
Dollar Industries: To meet KC Capital on September 21.
Greaves Cotton: To meet Union MF on September 21.
Voltas: To meet Haitong Securities on September 21.
Rail Vikas Nigam: To meet HDFC Mutual Fund on September 22.
Associated Alcohols & Breweries: To meet Edelweiss Wealth Research, Ventura Securities, Equity Master, Lucky Investments, Pioneer Investcorp, Discovery Capital, Cogito and Concept Investwell on September 22.
KEC International: To meet Equirus Securities on September 23
Blue Star: To meet Goldman Sachs on September 23 and attend Phillip Capital Resurgent India virtual conference on September 24.
Advanced Enzyme Technologies: To meet Myriad Asset Management on September 28.
Ex-Date AGM: Sun Pharma Advanced Research Company, Birla Corporation, Dalmia Bharat, Emami, Nureca, IRCTC, Religare Enterprises, Container Corporation of India, Ashapura Minechem, Aptus Value Housing Finance India, Shriram EPC, Tilaknagar Industries, SJVN, The Orissa Minerals Development Company, Sadbhav Engineering, Man Industries (India), Time Technoplast, Navneet Education, Optiemus Infracom, Cochin Shipyard, PNC Infratech, Sadbhav Infrastructure Project, Kingfa Science & Technology (India), NLC India, Himadri Speciality Chemical, Ambika Cotton Mills, PG Electroplast, National Fertilizers, OnMobile Global, Asahi India Glass, Jaiprakash Power Ventures, Tourism Finance Corporation of India, Shakti Pumps (India)
Ex-Date Final Dividend: IRCTC, PNC Infratech, Ambika Cotton Mills, Ashapura Minechem, Cochin Shipyard, Container Corporation Of India, The Hi-Tech Gears, Himadri Speciality Chemical, KNR Constructions, KSE, Mishra Dhatu Nigam, Navneet Education, NLC India, Nureca, OnMobile Global, RailTel Corporation of India, SJVN, Time Technoplast
Ex-Date Dividend: Dalmia Bharat, Asahi India Glass, Birla Corporation, Black Rose Industries, Tourism Finance Corporation Of India
Record Date Dividend: Garware Hi-Tech Films, Shilpa Medicare, Steel Authority of India,
Dixon Technologies (India)
Record Date Final Dividend: Best Agrolife, Aarti Industries
Price Band Revised From 10% To 5%: Shivalik Bimetal Controls
Price Band Revised From 20% To 10%: Easy Trip Planners
Move Into ASM Framework: Easy Trip Planners, Happiest Minds Technologies, Jet Airways (India)
Move Into Short-Term ASM Framework: Surya Roshni
Move Out Of Short-Term ASM Framework: Jindal Worldwide, Arman Financial Services
Money Market Update
The rupee ended at 73.74 against the U.S. Dollar on Monday as compared to Friday's closing of 73.49.
Nifty September futures ended at 17,355.80, a discount of 41.1 points
Nifty September futures shed 5.90% and 17,060 shares in Open Interest
Nifty Bank September futures ended at 37,167.05, a premium of 21.35 points
Nifty Bank September futures added 12.02%, and 8,450 shares in Open Interest
Securities that continue to be on the ban list: Exide Industries, Indiabulls Housing Finance, IRCTC, National Aluminium Company, Punjab National Bank ,SAIL, Sun TV
Securities added to the ban list: Vodafone Idea
Securities removed from the ban list: Escorts