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

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

Asian equities rose after gains in Wall Stree, aided by U.S. gauge of Chinese shares, as markets withstood the hawkish comments from Fed officials at the annual conference in Jackson Hole, Wyoming.

U.S. Federal Reserve Chair Jerome Powell's speech today could contain key announcements and reiteration of steps to tighten monetary policy to flight surge in inflation.

Bourses in Japan, Australia and South Korea were in the green.

At 6:50 am, the Singapore-traded SGX Nifty--an early barometer of India's benchmark Nifty 50--traded 0.50% higher at 17,675.50 points. Shares of Syrma SGS Technology will start trading today after IPO.

US 10-year yield fell to just above 3%. Elsewhere, Nymex crude rose above $93 a barrel while Gold and Bitcoin declined.

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

Global Cues

  • U.S. Dollar Index at 108.54

  • U.S. 10-year bond yield at 3.03% on Thursday

  • Brent crude up 0.5% to $100 per barrel

  • Nymex crude at $93.17 per barrel

  • SGX Nifty up 0.35% to 17,650 as of 6:11 a.m

  • Bitcoin down 0.5% to $21,542

Stocks To Watch

  • HDFC Bank: The bank entered into non-binding agreement with Go Digit to invest between Rs 49.9-69.9 crore worth equity capital. Go Digit proposes to carry out life insurance business in India, subject to grant of certificate of registration from IRDA.

  • HDFC: The company’s three subsidiaries HDFC Property Ventures, HDFC Venture Capital and HDFC Capital Advisors approved amalgamation of HPVL and, HVCL with HCAL. The combined platform shall advise/ manage approximately $4.1 billion of assets.

  • Eicher Motors: The chief financial officer of the company Kaleeswaran Arunachalam has resigned effective from September 2.

  • Indian Oil Corporation: The company plans to spend Rs 2 lakh crore to achieve carbon neutrality by 2046.

  • Dr. Reddy’s Laboratories: The U.S. FDA has concluded that the inspection is “closed” at the company’s formulations manufacturing facility (FTO 11) in Srikakulam, Andhra Pradesh.

  • Nelco: The company has partnered with Intelsat Commercial Aviation to offer inflight connectivity services in India.

  • Max Financial Services: The company’s subsidiary Max Life Insurance announced that receipt of the Commencement of Business certificate for its wholly owned subsidiary, Max Life Pension Fund Management. This subsidiary will manage the pension assets with investment choices under the National Pension Scheme.

  • Gland Pharma: The company received one observation on Form 483 from the U.S. FDA that conducted pre-market inspection at Dundigal Facility at Hyderabad.

  • Infibeam Avenues: Buys 50% stake in software startup Vishko22.

  • Steel Authority of India: Expands adoption of HPE GreenLake.

  • Lupin: Entered into an exclusive licensing deal with Japanese drugmaker I'rom Group to conduct clinical trials, register, distribute and market biosimilar Denosumab in Japan. Denosumab has a market size of $500 million in Japan and is available under two brands - Pralia and Ranmark.

India Seeks Byju's Reply On Delayed Filing Of Audited Accounts

Pledged Share Details

  • Aurobindo Pharma: Promoter Group Kambam Kirthi Reddy created a pledge of 9 lakh shares on August 23.

  • Jindal Steel & Power: Promoter Group Opelina Sustainable Services revoked a pledge of 11.5 lakh shares on August 22.

Insider Trades

  • Nava: Promoter Group Ashwin Devineni sold 10.5 lakh shares on August 25.

  • Confidence Petroleum India: Promoter Group Confidence LPG Bottling bought 6.06 lakh shares between August 18 and August 22.

  • Vaibhav Global: Promoter Group Brett Enterprises bought 12.2 lakh shares on August 24.

  • Geojit Financial Services: Promoter BNP Paribas sold 6.4 lakh shares between August 19 and August 23.

  • Adani Ports and Special Economic Zone: Promoter Group Gelt Bery Trade And Investment bought 100 shares on August 23.

  • D B Corp: Promoters Sudhir Agarwal and Girish Agarwal bought 72,765 and 1.04 lakh shares, respectively, on August 19.

  • Adani Transmission: Promoter Group Gelt Bery Trade And lnvestment bought 100 shares on August 23.

  • Star Cement: Promoter Group Sarika Jalan sold 13,000 shares between August 22 and 23, Promoter and Director Prem Kumar Bhajanka bought 10,000 shares on August 23.

  • India Pesticides: Promoter Anand Swarup Agarwal and Promoter Group Sudha Agarwal bought 17,000 shares and 33,000 shares, respectively on August 23.

Bulk Deals

  • KDDL: Yashovardhan Saboo bought 2.37 lakh shares (1.86%) and Elevation Capital V Fii Holdings sold 2.5 lakh shares (1.96%) at Rs 850 apiece.

  • Nava: Devineni Ashwin sold 10.5 lakh shares (0.72%) at Rs 230.74 apiece.

  • PVR: BNP Paribas Arbitrage sold 4.05 lakh shares (0.66%) Rs 1841.14 apiece.

Hero Electric, Jio-bp To Partner For Two-Wheeler Charging

Who’s Meeting Whom

  • Anand Rathi Wealth: To meet analysts and investors on August 26.

  • Garden Reach Shipbuilders & Engineers: To meet analysts and investors on August 26.

  • Aptus Value Housing Finance India: To meet analysts and investors on August 26.

  • MOIL: To meet analysts and investors on August 26.

  • Cummins India: To meet analysts and investors on August 26 and September 7.

AGMs today:

  • Aditya Birla Capital

  • Berger Paints India

  • Cipla

  • Gail (India)

  • Godfrey Phillips India

  • InterGlobe Aviation

  • IOL Chemicals & Pharmaceuticals

  • Indian Railway Catering and Tourism Corporation

  • ICICI Securities

  • JK Tyre & Industries

  • Jtekt India

  • Karnataka Bank

  • Moschip Technologies

  • Info Edge (India)

  • Patel Engineering

Trading Tweaks

  • Price Band Revised From 20% To 10%: Medicamen Biotech

  • Ex-Date Interim Dividend: G R M Overseas

  • Ex-Date Dividend: Linc

  • Ex-Date Final Dividend: Panama Petrochem, Sutlej Textiles and Industries

  • Ex-Date Stock Split: PDS

  • Record-Date Dividend: PNB Gilts, Godawari Power and Ispat, SIL Investments, Salzer Electronics, New India Assurance Company, Life Insurance Corporation of India

  • Record-Date Interim Dividend: Kaveri Seed Company, Precision Wires India

  • Record-Date Final Dividend: PNB Gilts, CCL Products (India)

  • Record-Date Annual General Meeting: Salzer Electronics

  • Record-Date Face Value Split: Rama Steel Tubes

  • Record-Date Issue of Equity Shares: Coastal Corporation

  • Move Into Short-Term ASM Framework: Confidence Petroleum India, Medicamen Biotech, Capacite Infraprojects

  • Move Out Of Short-Term ASM Framework: DFM Foods

Money Market Update

The rupee ended at Rs 79.88 against the U.S. Dollar on Thursday as compared to Wednesday's closing of Rs 79.81

F&O Cues

  • Nifty August futures ended at 17,521, a discount of 1.45 points.

  • Nifty August futures shed 48.31% and 45,721 shares in Open Interest.

  • Nifty Bank August futures ended at 38,954.70, a premium of 3.95 Points.

  • Nifty Bank August futures shed 60.99%, 27,438 shares in Open Interest.

  • Securities removed from the ban list: RBL Bank

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

Research Reports

What IRDAI's Proposed Cap On Commission Means For Life, General Insurers