Stock Market Today: All You Need To Know Going Into Trade On Sept. 27
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Asian markets opened on a cautious note Tuesday following another selloff in US stocks, soaring bond yields and volatile currency markets as investors brace for a heightened risk of global recession.
Shares edged higher in Japan and Australia after three days of losses in those two markets while equity futures pointed to a decline in Hong Kong. US contracts made small gains after the S&P 500 closed at its lowest since 2020 and the CBOE Volatility Index spiked past 30, a level it hasn’t closed above since June.
At 6:40 am, the Singapore-traded SGX Nifty--an early barometer of India's benchmark Nifty 50--fell 0.3% to 16,971.5 points.
Bonds remained under pressure in Australia and Japan while benchmark 10-year Treasury yield held near 3.9%--a level last seen in 2010.
The dollar gauge inched back from a record high Monday, when Federal Reserve officials repeated hawkish comments on policy. Asian currencies including the yen and yuan strengthened slightly while staying around levels that have caused concern from authorities in both countries.
The Indian rupee, meanwhile, has plumbed to record lows.
Stocks To Watch
Jubilant FoodWorks: The company has completed the acquisition of 29.42% stake in Roadcast Tech Solutions as per a July agreement. It will will acquire an additional 10.58% stake in Roadcast Tech by Oct. 26.
Mahindra Logistics: The company has agreed to acquire Rivigo's B2B express cargo service unit on a slump-sale basis, in a deal valued at Rs 225 crore.
Jyoti Structures: The company has secured a Rs 237-crore contract from Sterlite Power Transmission for turnkey supply and construction of 400 kV and 220 kV double-circuit transmission lines in Goa and Karnataka. These will be commissioned in a phased manner by December 2023 and July 2024.
JSW Energy: India Ratings has upgraded the company's long-term facilities to ‘IND AA/Stable’ from ‘IND AA-/Stable’.
Amara Raja Batteries: The board has approved demerger of plastic component for battery business from Mangal Industries Ltd. to Amara Raja. MIL shareholders will receive 65 shares of Amara Raja for every 74 shares held.
Filatex India: Commissioned a project for debottlenecking melt capacity of 50 million tonnes per day and manufacturing lines of 120 million tonnes per day at its Dahej plant.
Embassy REIT: Blackstone seeks to raise up to Rs 2,650 crore ($325 million) by selling 7.7 crore shares at Rs 345 apiece.
BSE: The stock exchange has received SEBI's approval to launch an electronic gold receipt segment on its platform.
Delta Corp/Nazara Tech: The Tamil Nadu cabinet has approved an ordinance that bans online gaming in the state.
Electronics Mart India: Rs 500-crore IPO is slated for Oct. 4-7.
WAPCOS India: Files for an IPO, which will see govt stake sale.
SEBI approves IPO plans of Uniparts India, Gold Plus Glass
KDDL: Capital One Partners bought 2 lakh shares (1.57%) at Rs 849.99 apiece. Axis Securities bought 1.1 lakh shares (0.86%) at Rs 850 apiece. Elevation Capital V FII Holdings sold 3.6 lakh shares (2.83%) at Rs 850 apiece.
Mastek: Smallcap World Fund Inc. bought 5.5 lakh shares (1.83%) at Rs 1,759.97 apiece. Hornbill Orchid India Fund sold 4.29 lakh shares (1.43%) at Rs 1,760.01 apiece.
Ex-Date Annual General Meeting: BF Utilities
Ex-Date Bonus: Bharat Gears
Record-Date Buy Back: Shyam Century Ferrous
Who’s Meeting Whom
Arvind: To meet investors and analysts on Sept. 29.
Punjab National Bank: To meet investors and analysts on Sept. 27.
Safari Industries: To meet investors and analysts on Sept. 29.
Sundram Fasteners: To meet investors and analysts on Sept. 28.
Life Insurance Corp.
Mazagon Dock Shipbuilders
Gujarat State Fertilizers
New Delhi Television
NCL Industries: Promoter groups Utkal B Goradia bought 8,169 shares between Sept. 22 and Sept. 23. Subbaraju bought 20,000 shares on Sept. 26.
Ultramarine & Pigments: Promoter groups Deepa Ajay sold 1,400 shares and Daya Sridhar sold 1,483 shares on Sept. 23.
Cosmo First: Promoter & Director Ashok Jaipuria bought 5,000 shares on Sept. 26.
Zydus Wellness: Promoter Zydus Family Trust bought 3,372 shares on Sept. 23.
Adani Green Energy: Promoter Group Spitze Trade and Investment bought 5 lakh shares on Sept. 23.
Pledge Share Details
Jindal Steel & Power: Promoter Group OPJ Trading revoked a pledge of 2.09 lakh shares on Sept. 15.
Money Market Update
The rupee fell 67 paise to hit a record low of Rs 81.66 against the U.S. dollar on Monday before closing on Rs 81.62, as compared to Friday's closing of Rs 80.99.
Nifty Sept. futures ended at 17,037, a discount of 298.8 points.
Nifty Sept. futures shed 10.5% and 22,903 shares in Open Interest.
Nifty Bank Sept. futures ended at 38,700, a discount of 942.7 points.
Nifty Bank Sept. futures shed 23.1%, 19,310 shares in Open Interest.
Securities in the ban list: Punjab National Bank, Vodafone Idea, Zee Entertainment Enterprises