Stock Market Today: All You Need To Know Going Into Trade On Aug. 25
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Asian equities rose on Thursday as investors evaluated China’s latest steps to shore up its economy and awaited a key speech by Federal Reserve Chair Jerome Powell about the monetary policy outlook.
China increased stimulus with a further 1 trillion yuan ($146 billion) of measures for an economys, Covid-linked mobility curbs and some power shortages. Mainland shares erased early gains, reflecting uncertainty about whether the efforts are sufficient.
At 6:30 am, the Singapore-traded SGX Nifty--an early barometer of India's benchmark Nifty 50--traded 0.12% lower at 17,586.5 points.
Elsewhere, crude oil added to a rally
Stocks To Watch
NDTV/Adani Enterprises: The company’s promoters Pranoy Roy and Radhika Roy require SEBI’s approval for dealing in securities. SEBI’s approval, it said, is precursor to Vishvapradhan Commercial's entitlement to convert warrants into equity shares. RRPR Holding has instructed bankers to return Rs 1.99 crore deposited by VCPL.
Bharti Airtel: Singtel units have entered into an agreement to sell a 3.3% direct stake in Airtel to Bharti Telecom, according to Singapore company statement. Bharti Telecom is a joint venture between Bharti Enterprises and Singtel. The deal will happen at any time before Nov. 23. Singtel expects $600 million Singaporean dollars net gain on divestment. Post-deal, Singtel is expected to own an effective stake of 29.7% in Airtel, estimated to be worth $22 billion Singaporean dollars, which comprises a 19.2% indirect stake through Bharti Telecom and a 10.5% direct stake.
NHPC: The company's subsidiary NHPC Renewable Energy signed memorandum of understanding with the government of Rajasthan for setting up of 10 GW RE parks/projects at sites identified inside Rajasthan.
Lupin: The company has entered into a deed of assignment Boehringer Ingelheim International GmbH for the acquisition of brands Ondero and Ondero – Met, including trademark rights associated with the brands, which will enable it to provide comprehensive treatment options for diabetes management. The cost of acquisition is Euro 26 million (Rs 207.43 crore)
PB Fintech: The company approved investment of Rs 250 crore and Rs 650 crore in Paisabazaar Marketing and Consulting and Policybazaar Insurance Brokers respectively during the financial year 2022-23. It also incorporated a step-down subsidiary in Abu Dhabi with the objective of extending group’s technology hub in UAE and providing end to end tech solutions. It will also acquire 45% to 51% stake in UAE based YKNP Marketing Management via its Dubai unit for $4 million.
REC: The company has sold entire shareholding in Neemuch Transmission to Power Grid Corporation.
PSP Projects: The company has received contract worth Rs 257.35 crore taking its total order flow for FY23 till date to Rs 1,344.24 crore.
Pledge Share Details
Uflex: Promoter Group Flex International revoked a pledge of 50,000 shares on August 23.
Omaxe: Promoter Guild Builders revoked a pledge of 5.75 lakh shares on August 23.
NCL Industries: Promoter Groups Bh.Subbaraju bought 10,169 shares between August 23 and August 24 and K Madhu(HUF) bought 3,638 shares on August 24.
Usha Martin: Promoter Peterhouse Investments sold 1.5 lakh shares on August 22.
Vaibhav Global: Promoter Group Brett Enterprises bought 4,000 shares on August 23.
Geojit Financial Services: Promoter BNP Paribas SA sold 2.8 lakh shares on August 18.
Aditya Vision: Promoter Group Rashi Vardhan sold 2.10 lakh shares in August 23.
Godrej Agrovet: Promoter Group Godrej Industries bought 45,908 shares between August 18 and August 19.
Mrs. Bectors Food Specialities: Promoter Group Anoop Bector (AB Family Trust) bought 9,000 shares between August 23 and August 24.
RBL Bank: College Retirement Equity Fund bought 45.84 lakh shares (0.76%) at Rs 108.86 apiece.
Who’s Meeting Whom
Aether Industries: To meet investors and analysts on August 26.
AGS Transact Technologies: To meet investors and analysts on August 26.
Indigo Paints: To meet investors and analysts on August 26.
Shriram City Union Finance: To meet investors and analysts on August 29.
Supreme Petrochem: To meet investors and analysts on August 25.
Aptus Value Housing Finance India: To meet investors and analysts on August 25.
Meghmani Organics: To meet investors and analysts on August 25.
Data Patterns (India): To meet investors and analysts on August 25.
Crisil: To meet investors and analysts on August 25 and August 30.
Aster DM Healthcare
Bombay Burma Trading Corporation
G R Infraprojects
Indian Oil Corporation
L.G. Balakrishnan and Bros
Ex-Date Final Dividend: CCL Products (India), Edelweiss Financial Services, Godawari Power and Ispat, Indigo Paints, PNB Gilts, Precision Wires India, Symphony
Ex-Date Dividend: Deepak Fertilisers and Petrochemicals Corporation, Life Insurance Corporation of India, New India Assurance Company, Kovai Medical Center and Hospital, Tasty Bite Eatables, Edelweiss Financial Services, Precision Wires India, Godawari Power and Ispat, Deepak Fertilisers and Petrochemicals Corporation, PNB Gilts
Ex-Date Special Dividend: Kovai Medical Center and Hospital
Ex-Date Interim Dividend: Precision Wires India, Kaveri Seed Company
Ex-Date Annual General Meeting: Edelweiss Financial Services, Precision Wires India, Deepak Fertilisers and Petrochemicals Corporation, Mangalam Cement, Kovai Medical Center and Hospital
Record-Date Special Dividend: Forbes & Company
Record-Date Interim Dividend: Hinduja Global Solutions
Move Into Short-Term ASM Framework: Seamec, DCW, Sangam (India)
Move Out of Short-Term ASM Framework: Rainbow Childrens Medicare, Everest Kanto Cylinder
Money Market Update
The rupee ended at Rs 79.81 against the U.S. Dollar on Wednesday as compared to Tuesday's closing of Rs 79.86.
Nifty August futures ended at 17,609.65, a premium of 5.65 points.
Nifty August futures shed 35.12% and 51,225 shares in Open Interest.
Nifty Bank August futures ended at 39,115 a premium of 76.5 Points.
Nifty Bank August futures shed 11.88%, 9,108 shares in Open Interest.
Securities added to the ban list: RBL Bank
Dreamfolks Services IPO - Strengths, Key Strategies, Risks, Valuations: Anand Rathi
Identifying Opportunities In India's Manufacturing Sector As It Reaches An Inflection Point: ICICI Securities
JK Cement Annual Analysis - Upcoming Capacity, Deeper Market Reach To Drive Growth: Axis Securities
Transport Corporation of India - Strong Play On Multimodal Logistics: Motilal Oswal
Infrastructure - Betting On Conservatism: HDFC Securities' Thematic View