31 Aug 20, BSE CLOSED @ 38628.29 ❌ 839.02 Pnts & NSE CLOSED @ 11387.50 ❌ 260.10 Points, BankNifty Closed 23754.35 ❌ 769.45 Points & India VIX Closed 22.8350 ✅ 04.4875 Points.
Aug Month BSE CLOSED @ 38628.29 ✅ 1021.40 Pnts & NSE CLOSED @ 11387.50 ✅ 314.07 Points, BankNifty Closed 23754.35 ✅ 2114.30 Points & India VIX Closed 22.8350 ❌ 01.2050 Points.
NMDC: The company said in a conference call that the demerger process of its steel plant to take at least 8-9 months. Capex incurred on the steel plant stards at Rs 17,000 crore and pending capex of Rs 4,000 crore. Balance funding will be through leveraging the steel plant, which is expected to be commissioned by 2021.
ITC: To consider proposal for amalgamation of its three wholly-owned arms - Sunrise Foods, Hobbits International Foods and Sunrise Sheetgrah with itself on September 4.
Indiabulls Ventures: Board approves preferential issue of 3.36 crore equity shares at Rs 175 per share worth Rs 588 crore. Investors like Think India Opportunities Fund, TIMF Holdings, Ribbit Cayman Holdings, Inteligo Bank, NWI Emerging Market Fixed Income Master Fund and First Royalty Ventures have been allotted shares. The board has appointed Sameer Gehlaut as the company's Chairman and CEO.
RBL Bank: MD & CEO, Vishwavir Ahuja sold 18.93 lakh shares between August 27-28 worth Rs 38.52 crore to meet personal debt obligations. The amount of shares sold is approximately 18% of his or his family's aggregate holdings of the bank as on date.
Inox Wind: Board approves raising Rs 200 crore via issue of securities.
J&K Bank: Board approved raising Rs 3,500 crore via equity and Rs 1,000 crore via NCDs.
South Indian Bank: To consider raising funds via equity and debt and September 4.
Ramkrishna Forgings: Board to consider raising Rs 150 crore via NCDs from International Financial Corporation on September 2.
IIFL Finance: Moody's Investors Service has extended its review for downgrade of the company's corporate family rating, B1 senior secured MTN program rating and B1 senior secured debt rating. The extension of the review for downgrade takes into account the still considerable uncertainty regarding the impact of the pandemic-driven economic disruption on the company’s loan collections and asset quality. As of June 30, 31% of the company's loans were under moratorium.
Balkrishna Industries: BK Bansal resigns as CFO from August 28. He will be replaced by MS Bajaj, who was the Assistant Vice President at Hindustan Vidyut Products.
JSW Energy: To consider appointment of key managerial personnel on September 1.
CG Power: Lenders of the company have approved Tube Investments' offer as the successful offer, subject to compliances with all the conditions stated in the Letter of Intent, to the satisfaction of the lenders.
Non-Nifty Earnings Today: Arvind, Bharat Dynamics, GNFC, JK Cement, Morepen Laboratories, NHPC, Sadbhav Infra, Spandana Sphoorty
(Provisional Net Rs. Cr.):
*Cash Segment for T/D 28-08-2020 :
*FII :+ 1,004.11
*DII :- 543.56
*FII Prov. Number For t/d Total 27th August : + 1,164.32
*FII Actual Number as per NSDL Site for T/d Total 27th August: + 1,419.65
Provisional Cash Segment Total (For August Month) as on 28th August,2020
*FII :+ 19,145.35
*DII :- 11,727.66 (Includes MF Number mentioned Below)
*Mutual Fund Number as Per SEBI Site (For the month of August-2020)as on 24th August,2020: - 6,880.50
Actual Cash Segment as per NSDL Site ( Total For August Month) as on 27th August,2020
*FII :+ 18,653.02
Actual Cash Buying for Calender Year- 2020
*FII :- 23,195.70 (As Per NSDL Site)
*DII :+ 66,007.96 (Includes MF Number mentioned Below)
*Mutual Fund : + 16,257.50 (as on 24th August,2020)
Derivative Segment: for T/d 28-08-2020
*Index Futures :+ 350.69
*Index Options :+ 1,394.43
*Stock Futures :- 807.24
*Stock Options :+ 247.89
Derivative Segment (September Series)
*Index Futures :+ 950.96
*Index Options :+ 2,857.89
*Stock Futures :- 879.51
*Stock Options :+ 448.55
Today's Corporate Action 31st Aug Ex Date
CARERATING Final Dividend - Rs. - 2.5000
MORGANITE Stock Split From Rs.10/- to Rs.5/-
PAISALO Final Dividend - Rs. - 1.0000
PANAMAPET Final Dividend - Rs. - 1.2000
SMLT Final Dividend - Rs. - 0.5000
VINYLINDIA Dividend - Rs. - 2.4000
Today's Key Results 31-Aug-20
7SEASL
8KMILES
ACEEDU
ACFL
ADVMULT
ADVPETR-B
AIIL
AMFORG
ANJANIFOODS
ARVIND
AUROLAB
BARODARY
BDL
BFUTILITIE
BHARTIA
BPL
CCLINTER
CHADPAP
CHCL
CREATIVEYE
DANUBE
DHINDIA
DREDGECORP
DYNAMATECH
ECSTSTL
EKAMLEA
FFPL
GENCON
GLOBUSCON
GNFC
GOKUL
GOWRALE
GRAVISSHO
GRCABLE
HAVISHA
IFSL
INANI
INDOSOLAR
INNOCORP
INVPRECQ
JAICORPLTD
JAINCO
JAYATMA
JAYIND
JINDALPOLY
JKCEMENT
KATRSPG
KEDIACN
KRRAIL
LEHIL
MAITRI
MERCTRD
MNIL
MODIRUBBER
MOREPENLAB
MSRINDIA
MUKANDLTD
MYSORPETRO
NALINLEA
NATHIND
NHPC
NITINCAST
PALRED
PANCHMAHQ
PANCHSHEEL
PANTH
PEARLPOLY
PETPLST
PHOENIXTN
PODARPIGQ
PODDAR
PPL
PRADHIN
PRAKASH
PRICOLLTD
PROZONINTU
PTIL
RCIIND
RENUKA
RIBATEX
ROSELABS
RUSHIL
SADBHIN
SALAUTO
SAMPRE
SANWARIA
SARUPINDUS
SAYAJIIND
SENINFO
SHAKTIPR
SHIVAMAUTO
SHRIKRISH
SHYAMTEL
SICL
SOURCENTRL
SPANDANA
SPECIALITY
SPELS
SRIKPRIND
STELLANT
SUNEDISON
SUPERTEX
SURYAKR
SVGLOBAL
TERASOFT
TIIL
UDL
UNIPLY
UNITEDTE
VALSONQ
VIRTUALG
VLSFINANCE
WISEC
ZSVARAJT
ZSVTRADI
Reliance Industries: Reliance Retail to acquire retail & wholesale and the logistics & warehousing business of the Future Group for Rs 24,713 crore.
RBL Bank: Vishwavir Ahuja, Managing Director & CEO of the bank, sold 18,92,900 shares of RBL Bank on 27th & 28th of August, 2020, for approximately Rs 38.52 crore.
Paramount Communications: The company's consolidated revenue for Q1FY21 stood at Rs 85.83 crore against Rs 152.65 crore YoY. Net loss at Rs 1.6 crore against profit of Rs 6.62 crore YoY.
ICICI Prudential Life Insurance: Raghunath Hariharan tendered his resignation as a Director of the company on August 28. The company appointed Wilfred John Blackburn as a non-executive (Additional) Director.
Ramkrishna Forgings: Board in a meeting on September 2 will consider raising up to Rs 150 crore.
RITES: The company announced final dividend of Rs 6 per share in addition to already paid interim dividend of Rs 10 per share.
J&K Bank: The board of directors approved raising up to Rs 4,500 crore capital.
IRB Infrastructure Developers: CRISIL cut company's long term rating to A from A+.
ITC: Board of directors will meet on September 4 to consider amalgamating 3 subsidiaries (Sunrise Foods, Hobbits International Foods and Sunrise Sheetgrah) with itself.
Indiabulls Ventures: Company will raise Rs 588 crore via preferential issue.
Dow futures rise 100 points as Wall Street wraps up its best August in more than 30 years
U.S. stock futures rose on Sunday night as traders were set to end the market’s best August performance since the 1980s.
Dow Jones Industrial Average futures were up 106 points, or 0.4%. S&P 500 and Nasdaq 100 futures gained 0.3% and 0.2%, respectively.
The S&P 500 is up 7.2% month to date, putting the broader-market index on track for its biggest August gain since 1984. The Dow has rallied more than 8% this month and is also headed for its best August in 36 years.
This month’s gains have pushed the S&P 500 to record levels, officially confirming a new bull market has started. The Dow, meanwhile, erased its 2020 losses on Friday, closing the session with a year-to-date gain 0.4%.
The August rally built on the market’s sharp rebound off the March 23 intraday lows. Since then, the Dow and S&P 500 are up 57% and 60.1%, respectively.
We “had hoped that the market would consolidate its gains since March 23, giving earnings a chance to rebound,” said Ed Yardeni, president and chief investment strategist at Yardeni Research, in a note. “However, Fed officials continue to drive up stock prices by committing to keeping interest rates close to zero for a very long time … Consequently, they are fueling the meltup in stock prices.”
Earlier this year, the Federal Reserve cut rates to zero and launched an open-ended asset-purchasing program to support the economy through the coronavirus pandemic. Last week, the central bank laid out an inflation policy framework that would keep rates lower for longer.
TRADE WITH STRICT STOPLOSSES..
ALL CASH BASED ON CASH LEVELS... TRADE ACCORDING TO CASH LEVEL.
SELL JINDALSTEEL BELOW 213.50 SL ABOVE 226 TGT 208.50 / 204 / 201 / 198 / 195 / 192..
SELL TATASTEEL BELOW 421 SL ABOVE 438 TGT 416 / 410 / 405 / 400 / 393..
SELL TORRENTPOWER BELOW 341 SL ABOVE 352 TGT 337.50 / 334 / 330 / 325..
OPEN CALL UPDATES WITH REVISED SL
16AUG : Ujjivan Buy Cmp 237.50, With Stoploss Below 219 Target 249 / 260 / 268 / 276++ in Coming Days.. HIGH MADE 271, NEAR FINAL TGT OF 276, REVISED SL BELOW 254.
16AUG : DHFL CMP 14.30 With Stoploss Below 12.50, Target 15 / 15.75 / 16.50 / 17.25 / 18++. HIGH MADE 15.65, REVISED SL BELOW 13.75.
23AUG : UNIONBANK BUY CMP 30.45 WITH SL BELOW 28.50 TGT 31.50 / 32.25 / 33 / 33.75 / 35. HIGH MADE 32.20, REVISED SL BELOW 30.
23AUG : INDIA CEM BUY 117.85 WITH SL BELOW 110 TGT 122 / 126 / 130 / 134. HIGH 124.50, REVISED SL BELOW 117.
28 Aug BSE CLOSED @ 39467.31 ✅ 353.84 Pnts & NSE CLOSED @ 11647.60 ✅ 88.35 Points, BankNifty Closed 24523.80 ✅ 923.45 Points & India VIX Closed 18.3475 ❌ 0.5475 Points.
Weekly 24 - 28 Aug BSE CLOSED @ 39467.31 ✅ 1032.59 Pnts & NSE CLOSED @ 11647.60 ✅ 276 Points, BankNifty Closed 24523.80 ✅ 2224.20 Points & India VIX Closed 18.3475 ❌ 1.5900 Points.
STRICT STOP LOSS MUST ON EVERY TRADE
BUY HINDZINC 237 SL BELOW 220 TGT 245 / 249 / 253 / 257 / 263 / 268++.
Shriram City Union Finance to meet Motilal Oswal Private Equity Advisors on Aug.28
Credit Access Grameen to meet Nomura, Kotak MF and investors from Aug.31-Sept.4
Mahanagar Gas to meet Bank of America on Aug.28
Lasa Supergenerics to meet Abakkus AMC, Motilal Oswal Securities and Equentis Wealth on Aug.28
Polycab to meet Spark Capital and Philip Capital on Aug.28
Trading Tweaks
AGM Date: Ashok Leyland, Ramco Industries, Ramco Systems, Abbott India, Fermenta Biotech.
Fund Raising: Birla Tyres, J&K Bank, Indiabulls Venture.
Listing: Max India.
Delisting (Board Meeting): Xchanging Solutions.
Record Date For Share Buyback: Triveni Engineering.
Price Band Revised From 10% To 5%: Dish TV, Bharat Wire Ropes.
Price Band Revised From 20% To 10%: Wendt, Usha Martin.
Price Band Revised From No Band To 20%: Century Textiles, Equitas Holdings, Ujjivan Financial Services.
Move Into ASM Framework: CIL Nova Petrochemicals, Affle, Bharat Wire Ropes, Intrasoft Technologies, JHS Svendgaard Laboratories, Arrow Greentech.
Move Into Short Term ASM Framework: Allsec Technologies, Wendt, SORIL Infra Resources, Shanthi Gears, A2Z Infra Engineering.
Move Out Of Short Term ASM Framework: Entertainment Network, Aries Agro, Trigyn Technologies, Jaiprakash Associates, Future Enterprises, Maan Aluminium, Intrasoft Technologies, Paushak.
Insider Trades
Godrej Industries promoter Godrej Seeds & Genetics acquired 73,000 shares from Aug.21-28
Alembic promoter Nirayu acquired 3.28 lakh shares on Aug.26
Jamna Auto promoter Map Auto acquired 53,000 shares on Aug.25
Somany Ceramics promoters acquired 3 lakh shares from Aug.25-26
Ultratech Cement promoter Pilani Investment sold 1.3 lakh shares on Aug.21
KEC International Instant Holdings acquired 61,650 shares on Aug.26
Today's Corporate Action 28th Aug Ex Date
ABBOTINDIA Final Dividend - Rs. - 107.0000
ABBOTINDIA Special Dividend - Rs. - 143.0000
CORALFINAC Final Dividend - Rs. - 0.2000
JOSTS Final Dividend - Rs. - 3.0000
SOLIMAC Final Dividend - Rs. - 0.7500
STHINPA Final Dividend - Rs. - 1.5000
Today's Key Results 28-Aug-20
1STCUS
AIML
APEX
ARCHIDPLY
ARCHIES
BATLIBOI
BLACKROSE
BSL
CAREERP
CENTUM
CHASBRT
CISTRO
CMMHOSP
DECOMIC
ESARIND
FILATEX
FLUIDOM
GULFPETRO
HIGHENE
HYTONE
IITL
INDOAMIN
INOXWIND
IPRINGLTD
JAGANLAM
JOINDRE
KACHCHH
KEMP
KHADIM
KOHINOOR
MAGNUM
MAHAANF
MASTERTR
MAZDALTD
MERMETL
MKEL
MUKESHB
NATPLASTI
NICCOPAR
NIMBSPROJ
NUTECGLOB
PARTANI
PATELENG
PCS
POCHIRAJU
POLYTEX
PUNITCO
RANASUG
RICOAUTO
SAENTER
SAGARSYST
SAGRSOY-B
SASTASUNDR
SBFL
SHRICON
SISL
SJVN
SNIM
SUNILTX
SYSTMTXC
TALBROAUTO
THEINVEST
TULIVE
UVDRHOR
VIKALPS
VINAYAKPOL
VIVOBIOT
WWTECHHOL
ZDHJERK
F&O Cues
Nifty August futures closed at 11,580; premium of 21 points versus premium of 5 points
Nifty August futures Open Interest up 39%, adds 44,000 shares in Open Interest
Nifty Bank August futures closed at 23,602; premium of 2 points versus premium of 27 points
Nifty Bank August futures Open Interest up 33%, adds 13,000 shares in Open Interest
Nifty Put Call Ratio at 1.47
Nifty Weekly Expiry: Sept 3
Max Open Interest on call side at 12,000 strike (15.5 lakh shares)
Max Open Interest on put side at 11,500 strike (19.3 lakh shares)
Active options: 11,500 Put (7.9 lakh shares), 12,000 Call (12.1 lakh shares)
Nifty Monthly Expiry: Sept 24
Max Open Interest on call side at 12,000 strike (18.9 lakh shares) Max Open Interest on put side at 11,000 strike (27.6 lakh shares)
Here are some key events coming up:
The U.S. Republican National Convention continues.
Personal spending and the PCE Deflator data are due Friday in Washington.
Here are the main market moves:
Stocks
The S&P 500 Index increased 0.2% to 3,484.55 as of 4:03 p.m. New York time, hitting the highest on record with its sixth consecutive advance.
The Dow Jones Industrial Average advanced 0.6% to 28,492.07, the highest in about six months.
The Nasdaq Composite Index declined 0.3% to 11,625.34, the first retreat in more than a week.
The Stoxx Europe 600 Index fell 0.6% to 370.72, the biggest fall in a week.
Currencies
The Bloomberg Dollar Spot Index gained 0.2% to 1,171.71.
The euro dipped 0.1% to $1.1819.
The Japanese yen depreciated 0.6% to 106.61 per dollar, the weakest in two weeks on the largest drop in more than a week.
Bonds
The yield on two-year Treasuries increased one basis point to 0.16%, the highest in two weeks.
The yield on 10-year Treasuries climbed five basis points to 0.74%, the highest in more than 10 weeks on the largest surge in more than two weeks.
The yield on 30-year Treasuries climbed nine basis points to 1.50%, the highest in 10 weeks on the biggest surge in 12 weeks.
Germany’s 10-year yield gained one basis point to -0.41%, the highest in eight weeks.
Commodities
West Texas Intermediate crude fell 0.9% to $42.99 a barrel.
Gold weakened 1.2% to $1,930.53 an ounce, the largest drop in more than a week.
Copper increased 0.6% to $3 a pound, the highest in more than a week.
Stocks Hit Highs, Bonds Tumble After Powell Pivot: Markets Wrap
U.S. stocks’ record-breaking rally continued and bond yields surged after Jerome Powell reiterated that the Federal Reserve will remain accommodative. The dollar climbed from a two-year low.
The S&P 500 reached an all-time high for a fifth day. The Nasdaq Composite also set a record before closing in the red. The yield premium demanded by investors on long-maturity U.S. debt compared to short-term notes increased to the most in two months after Powell said the Fed will seek inflation that averages 2% over time, a step that implies allowing for periods of overshoots. The financial and real estate sectors were the biggest gainers in the S&P, with banks seen benefiting from the higher yields. The benchmark index has surged about 56% from its March lows.
“Powell was hugely dovish,” said Peter Boockvar, chief investment officer for Bleakley Financial Group. “Then bonds woke up, said this guy wants higher inflation, sell!”
Abbott Laboratories jumped 8% after winning clearance for a 15-minute Covid test. Reports showed that U.S. weekly jobless claims remained above 1 million and the economy contracted slightly less than forecast in the second quarter.
“The takeaway for the real economy is that wages will be allowed to run higher which could benefit low-income households most affected by Covid-19,” said Nela Richardson at Edward D Jones & Co.
A bevy of central bankers and economists also spoke at the Fed’s Jackson Hole economic symposium via webcast, entirely viewable by the public for the first time.
Read More: Rejiggered Dow Fuels $2 Billion ETF Bet on Tech Aiding Benchmark
Traders were also monitoring news of medical advancements for the coronavirus, from Moderna Inc.’s vaccine trials to the Abbott test that will be priced at just $5.
Crude oil declined as Hurricane Laura weakened while crossing over land in the refinery and LNG-rich Gulf of Mexico region. Gold retreated for the fourth time in five trading sessions.
NMDC: The company reported a 55 percent YoY decline in Q1 FY21 PAT at Rs 533 crore. Revenue from operations fell almost 41 percent YoY to Rs 1,937.50 crore.
GMR Infrastructure: Consolidated net loss for the June quarter more than doubled to nearly 834 crore against Rs 335 crore loss in the same quarter of FY20.
PNC Infratech: Q1 consolidated PAT declined 48 percent YoY to Rs 92 crore. Revenue declined 28 percent YoY to Rs 1,093 crore.
Mahindra & Mahindra: The company announced the introduction of the Marazzo with BS-VI technology.
GMR Infra has announced strategic group restructuring to separate non-airport business into a separate unit. Board approved amalgamation of GMR Power Infra with self, followed by demerger of energy, EPC and urban infra business) from the company to its wholly owned arm GMR Power and Urban Infra. Rationale for this reorganization is to separate the Airport business (GMR Infra), with energy, urban infra and EPC business. For every ten equity shares of face value of Rs 1 held in GMR Infra, one equity share of face value of Rs 5 in GMR Power and Urban Infra to be issued to the equity shareholders of GMR Infra. There will be separate listing for both companies. Board approved raising Rs 5,000 crore via issue of securities. Appointed date for this scheme is April 1, 2021.
Due to falling FII headroom FTSE will not include/add HDFC Bank, Kotak Mahindra Bank and IndusInd Bank in its indices as earlier planned.
Edelweiss Financial Services: Board approved divesting majority stake (51%) in company’s wealth management business to private investment firm PAGAC. The wealth management arm will issue compulsory convertible debentures to PAGAC for Rs 2,204 crore and simultaneously primary issuance of securities by the company worth Rs 140 crore to the wealth management arm, PAGAC Ecstasy and other shareholders in the company. Board has also given in principle approval to whole or part of asset management business of the Group to a strategic investor and to explore fund raising opportunities, including option to raise capital from strategic investors for the general insurance business of the Group. Wealth management business (along with merchant banking business) will be demerged from the company and subsequently listed, subject to approvals.
Sun Pharma’s chairman Israel Makov stated in company’s annual general meeting that the company is evaluating the potential of some existing products which can be useful in Covid-19 treatment. These include Nafamostat Mesilate and the phyto-pharmaceutical, AQCH. Both these products are currently undergoing Phase-2 trials in India. Company is targeting new markets like Japan and Greater China for specialty products.
Allcargo Logistics: Board has considered the delisting proposal and has appointed Inga Ventures as as merchant banker. After receipt of the due diligence report from the merchant banker, the board will meet again to discuss the delisting proposal in detail.
NMDC: Board has given in-principle approval for the proposal to demerge its NMDC Iron & Steel Plant in Nagarnar, Chhattisgarh.
ACC has appointed Yatin Malhotra as the new CFO with effect from Sept. 1. He was the ex-CFO of Whirlpool India.
Ambuja Cements has appointed Rajani Kesari as the new CFO with effect from Sept. 1. She is currently the CFO of the company’s arm ACC.
Repco Home Finance: Aditya Birla Sun Life MF increased stake from 4.87% to 6.14%.
V2 Retail said that it has opened 4 new retail stores and closed 4 retail stores. Currently 74 retail stores are operational.
HCC won three projects worth Rs 7,402 crore which were won in a joint venture in the months of July and August. Company’s share in these orders are Rs 3,337 crore.
Atul Auto: Aditya Birla Sun Life MF reduced stake from 5.01% to 2.74% on Aug.25
General Insurance Corporation: Atanu Kumar Das, MD and CEO of Bank of India has been appointed as director on board of the Corporation
27 Aug BSE CLOSED @ 39113.47 ✅ 39.55 Pnts & NSE CLOSED @ 11559.25 ✅ 09.65 Points, BankNifty Closed 23600.35 ✅ 186.15 Points & India VIX Closed 18.8950 ❌ 0.4075 Points.
AUG Expiry Nse Nifty Closed 11559.25 ✅ 457.10
BUY BPCL CMP 410.10, SL BELOW 390 TGT 416 / 421 / 426 / 432 / 438
BUY SUNPHARMA CMP 525, SL BELOW 507 TGT 530 / 538 / 544 / 550 / 557 / 565.
F&O Cues
Nifty August futures closed at 11,554.5; premium of 5 points from 4 points
Nifty Rollovers at 65%
Nifty Bank August futures closed at 23,441; premium of 27 points from 1 point
Nifty Bank Rollovers at 54%
Nifty Put-Call Ratio at 1.54
Enters F&O Ban: Indiabulls Housing Finance
Out of F&O Ban: Nalco
Stocks In F&O Ban: Ashok Leyland, BHEL,
Canara Bank, GMR Infra, Indiabulls Housing, LIC Housing Finance, PNB, SAIL, Vedanta, Vodafone Idea.
Nifty Monthly Expiry: August 27
Maximum Open Interest on Call side at 11,600 strike (33.4 lakh shares)
Maximum Open Interest on Put side at 11,500 strike (39.9 lakh shares)
Active Options: 11,500 Put (24.5 lakh shares) and 11,650 Call (3.6 lakh shares)
Government proposes to sell up to 15% stake in Hindustan Aeronautics via offer for sale mechanism. Government to sell up to 3.34 crore shares (10% stake) at a floor price of Rs 1,001 per share for Rs 3347.29 crore, with oversubscription option for another 1.67 crore shares (5% stake). Floor price is at a discount of 15% to closing prices as on Aug. 26 Government’s stake to come down from 89.97% to 74.47%, if OFS is fully oversubscribed. The offer will open for non-retail investors on Aug.27 and for retail investors on Aug.28
Godrej Properties, Sunteck Realty, Kolte Patil Developers, Oberoi Realty, Indiabulls Real Estate: Maharashtra government to temporarily reduce stamp duty on flats from 5% to 2% till December 31. From Jan 1 till March 31, the stamp duty will be 3%. This is to boost the stagnant real estate market, which has been badly hit following the pandemic lockdown last March.
ICICI Bank: Bank approved sale of 64.42 lakh equity shares (2% equity) in ICICI Securities via open market sale. Face value of each share is at Rs 5 per share. Bank’s stake in ICICI Securities stood at 79.22% as of June 30 and it selling its stake to comply with minimum public shareholding requirement as per SEBI guidelines.
ITC, Godfrey Phillips, VST Industries: Government panel has recommended regulated FDI in tobacco sector and establishing export-only tobacco farms to boost outward shipments. (Press Trust of India)
Mahindra & Mahindra signed pact with Israel’s REE Automotive for electric commercial vehicles. The partnership will support REE Automotive’s global customer need for 200,000-250,000 electric commercial vehicle units over a few years, including Mahindra’s potential domestic and international volumes.
Infosys announced the launch of artificial intelligence driven solution to automate helpdesk operation. To partner with Blue Prism for this venture.
Coal India has awarded Rs 2,900 crore contract to Belarus-based mining equipment manufacturer Belaz for supply of 96 dumpers of 240-tonnes capacity. The amount for the purchase of the dumpers would be met out of the company's own finances. Dumpers are primarily used in opencast mines and aid in the transport of bulk materials like over burden. Board has given nod to close the deal. (Press Trust of India)
Jindal Stainless: Board approved raising Rs 162.8 crore via issue of convertible equity warrants to promoter group Virtuous Tradecorp and Kotak Group’s alternative investment fund.
SRF to consider raising capital via qualified institutional placement and NCDs on Aug.31.
Rossari Biotech: SBI Mutual Fund increased stake from 4.80% to 5.26% on Aug.25.
Lakshmi Vilas Bank: Board approved raising Rs 1,000 crore viea issue of equity shares and Rs 500 crore via NCDs. Board also approved increase in authorized share capital from Rs 650 crore to Rs 1,000 crore.
Punjab & Sind Bank: DHFL’s outstanding dues of Rs 815.4 crore has been declared as a fraud and reported to RBI. Bank has made a provision of Rs 203.9 crore as per prescribed norms.
AGM Date: Sterlite Tech, Pfizer, Amber Enterprises, Greenply Industries, Sudarshan Chemical, Kokuyo Camlin, Ramco Systems, Nava Bharat Ventures, InterGlobe Aviation, Munjal Showa, Hindustan Zinc, Aurobindo Pharma, Cadila Healthcare, Cipla, Embassy Office Parks REIT, Expleo Solutions, GMM Pfaudler, Bosch, Orient Paper, Sun Pharma.
Fund Raising: Zydus Wellness.
Voluntary Delisting (Board Meeting): Allcargo Logistics.
Ex-Date For Share Buyback: Triveni Engineering.
Price Band Revised From 10% To 5%: Butterfly Gandhimathi Appliances, Eros International Media, Inspirisys Solutions, RSWM , SORIL Infra Resources, Swelect Energy Systems.
Price Band Revised From 20% To 10%: California Software.
Price Band Revised From 20% To 5%: Dhunseri Ventures, Nandan Denim, Royal Orchid Hotels.
Move Into ASM Framework: Omax Autos, Kakatiya Cement Sugar & Industries, Vardhman Special Steels, Excel Realty & Infra.
Move Into Short Term ASM Framework: Music Broadcast, Affle, NIIT, GSS Infotech, Gujarat Narmada Valley Fertilizers and Chemicals, Minda Industries, Somany Ceramics, Sadbhav Infrastructure Project, Kellton Tech Solutions.
Move Out Of Short Term ASM Framework: Unichem Laboratories, V2 Retail, Sharda Motor Industries, Sanco Industries, Shriram City Union Finance, Hind Rectifiers, Jamna Auto Industrie
Insider Trades
Electrosteel Castings promoter Electrocast Sales acquired 14.5 lakh shares from Aug.21-24
Jamna Auto promoter Map Auto acquired 37,000 shares on Aug.24
India Cements promoter Prince Holdings acquired 4.93 lakh shares on Aug.24
Mindtree promoters sold 7.2 lakh shares from Aug.20-24
Xelpmoc Design and Tech promoter Srinivas Koora sold 1.18 lakh shares from Aug.21-24
Who’s Meeting Whom
MCX to meet Wellington Management on Aug.27
Rallis to meet Steinberg India Advisors, Tata MF and DSP from Aug.27-28
Endurance Tech to meet JF Asset Management (Hong Kong) on Aug.28
Eicher Motors to meet Temasek, Matthews Asia and Fidelity Group from Aug.27-28
Bulk Deals
VA Tech Wabag: Sumitomo Corporation sold 24.57 lakh shares (4.49%) at Rs 210.49 per share.
Ceat: Plutus Wealth Management acquired 7.35 lakh shares (1.82%) at Rs 900 per share and Jwalamukhi Investment sold 7.25 lakh shares (1.79%) at Rs 900 per share.
Equitas Holdings: Societe Generale sold 22.19 lakh shares (0.65%) at Rs 55.36 per share.
Atul Auto: Birla MF sold 3 lakh shares (1.37%) at Rs 197.26 per share.
Ramco Systems: HDFC MF acquired 1.57 lakh shares (0.51%) at Rs 240 per share.
Today's Corporate Action 27th Aug Ex Date
ADSL Final Dividend - Rs. - 0.5000
ALFREDHE Dividend - Rs. - 2.5000
ALFREDHE Special Dividend - Rs. - 1.0000
ASALCBR Final Dividend - Rs. - 1.0000
BOMOXY-B1 Final Dividend - Rs. - 10.0000
DIAMINESQ Final Dividend - Rs. - 4.0000
DUTRON Final Dividend - Rs. - 1.2000
ECOPLAST Final Dividend - Rs. - 1.5000
GREENPLY Final Dividend - Rs. - 0.4000
HESTERBIO Dividend - Rs. - 6.6000
ISHANCH Final Dividend - Rs. - 1.0000
MUNJALSHOW Final Dividend - Rs. - 4.5000
OBCL Dividend - Rs. - 0.5000
PFIZER Final Dividend - Rs. - 10.0000
STRTECH* Final Dividend - Rs. - 3.5000
SUPERSHAKT Dividend - Rs. - 0.5000
TRIVENI Buy Back of Shares
Today's Key Results 27-Aug-20
ARSSINFRA
ATHENAGLO
AVANTI
BFLAFL
BLKASHYAP
CHENFERRO
CNIRESLTD
DQE
EDELWEISS
GAYAPROJ
GEETANJ
GITARENEW
GMRINFRA
HALDYNGL
HCC
HEMACEM
HIMATSEIDE
HUIL
ICRA
IDFC
IITLPROJ
INDAG
INDOCITY
JIKIND
KANSAFB
KRISHNACAP
KUSHIND
MADHUCON
MARGOFIN
METALFORGE
MUKTAARTS
MULTIBASE
NAPL
NEAGI
NMDC
NOIDATOLL
ORVENPR
WORTH
PANCARBON
PAOS
PENNARALUM
PNCINFRA
SALASAR
SCANSTL
SCBL
SHNALUM
SIBARAUT
SOURCEIND
SUNGOLD
SUNSHIEL
SUPRDOM
SUYOG
TPLPLAST
WATERBASE
Asian stocks looked poised to build on gains that pushed global equities to a record high amid rising expectations for loose monetary policy and positive U.S. economic data. The dollar weakened and gold climbed. Futures edged higher in Japan, Hong Kong and Australia. Surging technology shares pushed the S&P 500 and Nasdaq Composite indexes to fresh highs for a fourth consecutive day, while the MSCI All-Country World Index climbed to a record. U.S. durable goods orders were more than double estimates, indicating factories will help support the economic rebound in coming months. Treasuries were steady. The offshore yuan traded at the highest since January amid fresh U.S.-China tensions. Elsewhere, crude traded near its highest in five months as Hurricane Laura bore down on key refining facilities on the U.S. Gulf Coast.
Here are some key events coming up:
The U.S. Republican National Convention runs this week.
The Bank of Korea sets monetary policy and will hold a briefing on Thursday.
Fed Chair Powell speaks at an event on Thursday
These are the main moves in markets:
Stocks
The S&P 500 Index climbed 1% to 3,478.81 as of 4:01 p.m. New York time, hitting the highest on record with its fifth consecutive advance and the largest increase in two weeks.
The Dow Jones Industrial Average climbed 0.3% to 28,332.53, the highest in six months.
The Nasdaq Composite Index increased 1.7% to 11,665.06, hitting the highest on record with its fifth consecutive advance and the largest increase in two weeks.
The Stoxx Europe 600 Index increased 0.9% to 373.12, the highest in two weeks.
Currencies
The Bloomberg Dollar Spot Index declined 0.2% to 1,169.69, the lowest in more than a week.
The euro decreased 0.1% to $1.1827.
The Japanese yen strengthened 0.4% to 106 per dollar, the largest rise in more than a week.
Bonds
The yield on 10-year Treasuries climbed one basis point to 0.69%, the highest in more than a week.
Germany’s 10-year yield increased two basis points to -0.42%, the highest in almost two weeks.
Britain’s 10-year yield gained four basis points to 0.302%, the highest in 11 weeks.
Commodities
West Texas Intermediate crude climbed 0.1% to $43.38 a barrel, the highest in almost six months.
Gold strengthened 1.2% to $1,952.28 an ounce, the highest in more than a week on the biggest climb in more than a week.
Copper rose 1.2% to $2.99 a pound, the largest advance in a week.
F&O Ban (27-08-2020)
ASHOKLEY
BHEL
CANBK
GMRINFRA
IBULHSGFIN
VODA IDEA
LICHSGFIN
PNB
SAIL
VEDL
Jindal Stainless: The board has approved raising funds up to Rs 162.80 crore through the issue of convertible equity warrants on a preferential basis.​
Mishtann Foods: Q1 revenue from operation at Rs 26.98 crore against Rs 125.91 crore YoY. Net profit came in near Rs 10 lakh against Rs 3.14 crore YoY.
Ansal Housing: Q1 consolidated revenue from operations stood at Rs 24.62 crore against Rs 60.23 crore YoY. The company reported a loss of Rs 4.16 crore against Rs 5.16 crore YoY.
Gillette India: Net profit fell to Rs 44.97 crore from Rs Rs 45.82 YoY. Total income declined to Rs 352.74 crore from Rs 466.39 crore a year ago. The company follows July to June as its financial year.
Allcargo Logistics: The board of directors will meet on August 27 to consider and approve the voluntary delisting of shares.
Hindustan Aeronautic: The government will sell up to 15 percent stake in the stock via an offer for sale (OFS). The floor price for the offer has been fixed at Rs 1,001 per equity share.
Telecom stocks: Major loss in subscriber base was recorded in the mobile telephony segment in May, with Bharti Airtel and Vodafone Idea losing around 47 lakh mobile customers each. The total wireless customer base of Airtel and Vodafone Idea dipped to 31.7 crore and 30.9 crore, respectively.
26 Aug BSE CLOSED @ 39073.92 ✅ 230.04 Pnts & NSE CLOSED @ 11549.60 ✅ 77.35 Points, BankNifty Closed 23414.20 ✅ 322.05 Points & India VIX Closed 19.3025 ❌ 0.0125 Points.
BUY KSCL 638.50 SL BELOW 595 TGT 657 / 668 / 678 / 690.++
BUY GRANULES 311.50 SL BELOW 295 TGT 318 / 325 / 332 / 337 / 342..
RISK REWARD BUY GODREJ CONSUMER CMP 677.50 SL BELOW 660 TGT 686 / 693 / 702 / 709 / 716.
• India Oil, Gas Firms Plan 1.62T Rupees Spend in FY21, Govt Says
• India GST Panel May Review Tax Rate on Two-Wheelers, FM Says
• India Extends Initial Bid Deadline for Flag Carrier to Oct. 30
• India’s Central Bank Sees Demand Recovery Taking More Time
o RBI says Indian banks need to shrug off risk aversion
• Indian Refinery Runs Slip Again in July on Shutdowns, Lockdowns
• RBI Finally Comes to Market With Operation Twist to Cool Yields
• Asia Ex-Japan 2Q GDP Forecast Steady; India Seen at -19.9%
• Jaguar Land Rover Owner to Cut Auto Debt to Zero in Three Years
• Vedanta Raises $1.75 Billion Loan to Fund Indian Unit Delisting
• India’s Biggest Lender Flags Concerns Over Funding Coal Mines
• StanChart Sees India Inc. Stressed Debt Rising 20% This Fiscal
• Palm Oil Reserves in Biggest Growers to Rise on Weaker Demand
• Supreme Court Reserves Order On Punishment For Prashant Bhushan: BQ
• Global Funds Buy Net INR14.8B of India Stocks on Tuesday: NSE
o Domestic Funds Sell Net 1.73 Rupees of Stocks
• Foreign Investors Buy Net INR10.6B of Indian Equities on Aug. 24
• Foreigners Buy Net INR1.81B of Indian Equity Derivatives Tuesday
• Govt May Look at Second Stimulus Once Covid-19 Infections Ebb, Expenditure Secretary Says: PTI
• Intense Rainfall Activity Expected Over North, Central And East India During Next 4-5 Days, Met Dept Says: PTI
• Bank of Maharashtra (BOMH): Issues INR8.31b worth shares to India govt.; govt holding increases to 93.33%
• Can Fin Homes (CANF): 1Q net income +15% y/y at 931.6m rupees, est. 967m
• FDC Ltd. (FDCLT): Introduces two variants of Favipiravir
• Jammu & Kashmir Bank (JKBK): To consider raising of capital on Aug. 28
• Piramal Enterprises (PIEL): To considerup to INR750m bonds issue on Aug. 28
• Punjab National Bank (PNB): Receives $3.25m in first recovery in Nirav Modi case, govt says
• Va Tech Wabag (VATW): Approves issue of 7.5m shares on preferential basis at INR160/shr to three investors including Rekha Rakesh Jhunjhunwala
Today's Corporate Action 26th Aug Ex Date
BIMETAL Dividend - Rs. - 7.0000
GRASIM Final Dividend - Rs. - 4.0000
KANPRPLA Final Dividend - Rs. - 0.6000
Today's Key Results 26-Aug-20
AADHAARVEN
ACIASIA
AGARIND
ANSALHSG
CALSOFT
CEENIK
COARO
CRANESSOFT
CUPID
DCM
DOLAT
GILLETTE
GMDCLTD
HNDFDS
IFSL
IGL
INDXTRA
MARATHON
MARBU
MINDAFIN
MISHTANN
MPFSL
NACLIND
NOVAPUB
ORIBEVER
QUINTEGRA
RELCHEMQ
REMIELEK
REMISIN
RIGASUG
RSCINT
SHARDA
SHINDL
SHKALYN
SHREMETAL
SIPTL
STARPAPER
SUPRBPA
TCFCFINQ
TIJARIA
UNISTRMU
WORTH
Here are the stocks to watch in trade today:
Va Tech Wabag: Board has approved issuance of up to 75 lakh shares on a preferential basis at Rs 160 per share aggregating to Rs 120 crore. Rekha Rakesh Jhunjhunwala will be issued up to 50 lakh shares on preferential basis while the remaining 25 lakh shares will be issued amongst Basera Home Finance, Sushma Anand Jain and Anand Jaikumar Jain. Board also revised the enabling fund raising proposal from Rs 400 crores to Rs 280 crore. Issue price is at a discount of 30% to the closing prices as on Aug.25.
Punjab National Bank recovered Rs 24 crore in the Nirav Modi case. On liquidation of the Nirav Modi’s assets by the US Chapter 11 Trustee, Rs 82.66 crore has been made available for distribution to unsecured creditors, including PNB. Further recovery is subject to other expenses and settlement of claims of other claimants. This is a maiden repatriation of $3.2 million (Rs 24 crore) for the Indian government in its fight against corporate fraud in an overseas territory.
TCS S&P has revised long term issuer credit ratings of TCS to stable from positive, affirms ‘A’ Rating. Tata Consultancy Services is likely to face slower growth in revenue and profitability over the next 12-18 months, given subdued global information technology spending. The ratings agency anticipates pricing pressures on new contracts and renewals because of the lower spending ability of clients in a highly competitive market.
Hindustan Oil Exploration: Malaysia tribunal has upheld certain claims by claimant Hardy Exploration & Production in an arbitration case. The claimant has sought to enforce the award through a petition before the Gujarat High Court and the financial implication is Rs 10 crore. Company will be contesting the case in appropriate legal forums both in India and in Malaysia.
JMC Projects received new infra order worth Rs 554 crore in the building and factory segment. Company has won orders of Rs 4000 crore till date in fiscal 2021.
Indiabulls Ventures to consider raising preferential issue to foreign investors on Aug.28
FDC has launched two variants of drug, Favipiravir – PiFLU and Favenza – which will be used to treat mild to moderate cases of COVID-19.
SeQuent Scientific: Dr. Kamal K Sharma and Mr. Milind Sarwate appointed on the board as independent directors. Dr. Kamal K Sharma will also be the chairman of the company as Dr. Gopakumar G. Nair has stepped down from the afore-mentioned post. Nominee directors from Carlyle Group Neeraj Bharadwaj and Rahul Mukim have joined the board.
SBI Trustee has acquired 7.99% stake in UFO Moviez due to encumbrance (pledge) of shares on Aug.22
Acrysil to expand capacity for quartz kitchen sinks by 20% to 6 lakh units per annum at its Gujarat plant to meet increasing demand from the export market. Total capes is Rs 15 crore to be funded by internal accruals and will be commissioned by March 2021.
GOCL Corporation: Promoter Hinduja Capital plans to reduce stake from 74.93% to 73.83% via open market sale, to comply with FDI norms.
Bank of Maharashtra allotted 73.6 crore shares at Rs 11.29 per share on a preferential basis the Government of India aggregating to Rs 831 crore. Government’s holding in the Bank has increased from 92.49% to 93.33%.
Birla Tyres to consider raising Rs 1,100 crore via debt or equity on Aug.28.
Procter Gamble Hygiene and Health Care has appointed CR Dua as the chairperson of the board with effect from Sept.24.
J&K Bank to consider raising Rs 4,500 crore during fiscal 2021, on Aug.28.
F&O Cues
Nifty August futures closed at 11,476; premium of 4 points versus premium of 12 points
Nifty August futures Open Interest down 21.5%, sheds 18 lakh shares in Open Interest
Nifty Bank August futures closed at 23,091; premium of 1 point versus discount of 19 points
Nifty Bank August futures Open Interest down 19%, sheds 2.4 lakh shares in Open Interest
Nifty Put Call Ratio at 1.25
Nifty Monthly Expiry: Aug 27
Max Open Interest on call side at 11,500 strike (41 lakh shares)
Max Open Interest on put side at 11,000 strike (33.7 lakh shares)
Active options: 11,000 Put (4.4 lakh shares), 11,800 Call (8.4 lakh shares)
Asia Pacific markets trade mixed; Ant Group files for Hong Kong-Shanghai listing
Stocks in Asia Pacific mixed in Wednesday morning trade as major indexes on Wall Street notched new records yet again overnight.
In Japan, the Nikkei 225 rose 0.16% while the Topix index shed 0.14%. South Korea’s Kospi added 0.2%.
Meanwhile, Australia’s S&P/ASX 200 dipped 0.59%.
Overall, the MSCI Asia ex-Japan index was little changed.
In corporate developments, Chinese tech giant Alibaba’s affiliate Ant Group on Teusday filed for a concurrent listing on the Shanghai Stock Exchange’s STAR market — a Nasdaq-style tech board — and the Hong Kong stock exchange. Ant Group, which runs the highly popular Alipay mobile payments app in China, has not disclosed details about the pricing of its shares.
Overnight on Wall Street, the S&P 500 and Nasdaq Composite rose to all-time highs. The broader market index added 0.4% to close at 3,443.62 while the tech-heavy Nasdaq gained 0.8% to end its trading day at 11,466.47. The Dow Jones Industrial Average lagged as it declined 60.02 points, or 0.2%, to close at 28,248.44 — snapping a three-day winning streak.
The moves stateside came on the back of mixed economic data. U.S. Census on Tuesday reported a 36% surge in sales of newly built homes in July. The Conference Board Consumer Confidence Index, however, fell for a second straight month to 84.8 in August from July’s 91.7.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 92.99 from levels above 93.2 seen earlier in the trading week.
The Japanese yen traded at 106.49 per dollar after seeing an earlier high of 106.32 against the greenback. The Australian dollar changed hands at $0.7199, in a trading week that has seen in mostly trading between $0.716 and $0.72.
Oil prices were mixed in the morning of Asia trading hours, with international benchmark Brent crude futures up 0.13% to $45.92 per barrel. U.S. crude futures dipped slightly at $43.33 per barrel.
*F&O Ban (26-08-2020):*
ASHOKLEY
BHEL
CANBK
GMRINFRA
VODA IDEA
LICHSGFIN
NATIONALUM
PNB
SAIL
VEDL
State Bank of India: Moody's Investors Service has downgraded State Bank of India's standalone profile to ba2 from ba1 saying it sees the bank's asset quality and profitability deteriorating.
Indokem: Q1 income from operations at Rs 9.47 crore against Rs 20.62 crore YoY. Profit from continued operations at Rs 6 lakh against loss of Rs 1.04 crore YoY.
Adhunik Industries: Q1 revenue from operations at Rs 72.56 crore against Rs 158.95 crore YoY. Profit at Rs 34 lakh against Rs 2.6 crore YoY.
IRCON International: Q1 consolidated revenue at Rs 526.87 crore against Rs 1,069.85 crore YoY. Net profit at Rs 34.46 crore against Rs 144.66 crore YoY.
Can Fin Homes: Q1 total income at Rs 522.5 crore against Rs 484.14 crore YoY. Net profit at Rs 93.16 crore against Rs 80.98 crore YoY.
IL&FS Transportation Networks defaulted on interest payment on non-convertible debentures due on August 25.
Kalpataru Power Transmission: Subsidiary JMC Projects secured new orders worth Rs 554 crore.
FDC launched two variants of Favipiravir Drug (PiFLU and Favenza) meant to treat mild to moderate cases of COVID-19.
Lockdown Teji
March 23 vs Aug 23 share price Returns
GMM Pfaudler 342%
Tata Comm 333%
Suven Pharma 289%
Laurus Labs 276%
Dixon Technolog. 274%
Essel Propack 272%
Jindal Steel 260%
Jubilant Life 260%
Indiamart Inter 240%
KIOCL 228%
Vodafone Idea 227%
Navin Fluo.Intl. 216%
ITI 213%
Glenmark Pharma. 193%
Indiabulls Vent. 183%
Bombay Burmah 172%
NIIT Tech. 169%
Escorts 166%
Emami 154%
Deepak Nitrite 153%
Indiabulls Hous. 150%
Syngene Intl. 140%
Ipca Labs. 137%
ICICI Securities 136%
Bharat Forge 136%
Tube Investments 133%
Tata Power Co 129%
Alembic Pharma 129%
Coromandel Inter 128%
Adani Gas 116%
I R C T C 115%
Multi Comm.X 112%
B H E L 112%
Amara Raja Batt. 111%
S A I L 111%
Manappuram Fin 110%
Hexaware Tech 107%
Hatsun Agro . 107%
Ashok Leyland 106%
Astrazeneca Phar 105%
Balkrishna Inds 102%
Adani Enterp 101%
Bharat Electron 100%
Max Financial 99%
Oracle Fin.Serv. 99%
Gujarat Gas 98%
AU Small F Bank 98%
Bayer Crop Sci 98%
Mphasis 96%
Cholaman.Inv.&Fn 94%
CreditAcc. Gram. 93%
Dalmia Bharat 91%
J K Cements 91%
I O B 89%
TVS Motor Co. 89%
Natco Pharma 88%
Sumitomo Chemi. 88%
Prestige Estates 87%
Sundram Fasten 87%
Godrej Agrovet 86%
Endurance Tech. 85%
Jubilant Food. 83%
Sun TV Network 83%
RBL Bank 81%
Ajanta Pharma 80%
GSFC CMP BUY 63.45 WITH SL BELOW 59 TGT 65.50 / 68 / 70.50 / 73. HIGH MADE 70.40 NEAR 3RD TGT OF 70.50 REVISED SL BELOW 63
UNIONBANK BUY CMP 30.45 WITH SL BELOW 28.50 TGT 31.50 / 32.25 / 33 / 33.75 / 35. HIGH MADE 32.20.. HOLD WITH SAME SL OF 28.50..
RBLBANK BUY CMP 184.15 WITH SL BELOW 172 TGT 193 / 200 / 208 / 216. HIT'S 1ST TGT OF 193, HIGH MADE 194.40 REVISED SL BELOW 178.
KOTAKBANK BUY CMP 1338 WITH SL BELOW 1300 TGT 1358 / 1376 / 1390 / 1403. FULL TGT HIT'S CALL CLOSED..
INDIA CEM BUY 117.85 WITH SL BELOW 110 TGT 122 / 126 / 130 / 134. HAS HIT 1ST TGT OF 122, HIGH MADE 122.70 HOLD WITH SAME SL OF 110.
DCB BANK BUY CMP 83.75 SL BELOW 76 TGT 86 / 88.50 / 92 / 94, NEAR FINAL TGT OF 94, HIGH MADE 93.20 ONE CAN BOOK PROFIT.
BAJFINANCE CMP 3389 SL BELOW 3305 TGT 3435 / 3465 / 3495 / 3525 / 3560. FULL TGT HIT 3560, CALL CLOSED.
AXISBANK BUY CMP 440.50 SL BELOW 415 TGT 450 / 458 / 466 / 478 / 486++. HIGH MADE 456.40, NEAR 2ND TGT OF 458, REVISED BELOW 425.
AJANTA PHARMA BUY CMP 1622 WITH SL BELOW 1570 TGT 1645 / 1665 / 1688 / 1705++ CALL OPEN..
25 Aug BSE CLOSED @ 38843.88 ✅ 44.80 Pnts & NSE CLOSED @ 11472.25 ✅ 05.80 Points, BankNifty Closed 23092.15 ✅ 259.15 Points & India VIX Closed 19.3150 ✅ 0.0850 Points.
STOCK TO WATCH TODAY
Axis Bank: The lender proposed to acquire 17 percent share of Max Life, resulting in total ownership of 18 percent post the transaction.
Jet Airways announced the 14th meeting of Committee of Creditors (CoC) is scheduled to be held on August 25.
Wipro announced a partnership with a standard initial margin model (SIMM) vendor, Quaternion Risk Management to offer SIMM-in-a-box to financial institutions covered under uncleared margin rules (UMR).
IRB Infrastructure Developers: Q1 loss at Rs 30.14 crore against a profit of Rs 206.62 crore YoY. Revenue from operations at Rs 1,022.3 crore against Rs 1,773.04 crore YoY.
NOCIL: Consolidated Q1 FY21 PAT at Rs 11.95 crore against Rs 32.88 crore YoY. Revenue from operations at Rs 106.51 crore against Rs 229.59 crore YoY.
JSW Energy: Executive Director and CFO Jyoti Kumar Agarwal has tendered his resignation.
*F&O Ban (25-08-2020):*
ADANI ENT
BHEL
NATIONALUM
PNB
IDEA
GMRINFRA
SAIL
ASHOKLEY
VEDL
24 Aug BSE CLOSED @ 38799.08 ✅ 364.36 Pnts & NSE CLOSED @ 11466.45 ✅ 94.85 Points, BankNifty Closed 22833 ✅ 533.40 Points & India VIX Closed 19.2300 ❌ 0.7075 Points.
SHORT TERM CALL BUY CADILA HEALTHCARE ITS RISK REWARD RATIO
Stocks in the news
Indiabulls Housing Finance Q1: Profit at Rs 272.8 crore versus Rs 790 crore, revenue at Rs 2,574.6 crore versus Rs 3,885 crore YoY.
SMS Lifesciences Q1: Profit at Rs 2.48 crore versus Rs 4.7 crore, revenue at Rs 54.7 crore versus Rs 91.8 crore YoY.
Rossari Biotech Q1: Profit at Rs 15.5 crore versus Rs 14.16 crore, revenue at Rs 109.5 crore versus Rs 127.8 crore YoY.
Max Healthcare Institute: Ashish Dhawan held 1.78% stake in company and FPIs have 10.87% shareholding as of June 2020.
AGC Networks Q1: Profit at Rs 4.33 crore versus Rs 13.56 crore, revenue at Rs 993.86 crore versus Rs 1,228.47 crore YoY.
Genus Paper & Boards Q1: Loss at Rs 5.48 crore versus profit Rs 2.1 crore, revenue at Rs 31.35 crore versus Rs 70.12 crore YoY.
Union Bank of India Q1: Profit at Rs 332.74 crore versus Rs 224.43 crore, NII at Rs 6,403.2 crore versus Rs 2,518.19 crore YoY.
Today's Corporate Action 24th Aug Ex Date
DOLLAR Dividend - Rs. - 1.7000
SHIL Dividend - Rs. - 0.1500
Today's Key Results 24-Aug-20
ABMKNO
ALBERTDA
AMFORG
APMIN
ARROWGREEN
ASIAPAK
BAJRFIN
BLBLIMITED
COSMOFE
DUGARHOU
DUROPLY
GENUSPRIME
GLOBUSSPR
GROVY
GUJCONT
HIMGRANI
HITECHCORP
INDRAMEDCO
INGERRAND
IRB
KKFIN
LEADFIN
LICHSGFIN
LPDC
MACKINN
MOHITPPR
NBFOOT
NOCIL
NORRIS
PARABDRUGS
PERMAGN
POLYCHMP
PRABHAVIN
REGENTRP
REMIEDEL
REMIPRO
REMITR
RISHIROOP
SANGUI
SCHABLON
SCOOTER
SHRAJSYNQ
SKCIL
SUZLON
TRABI
TRIUMPIN
TTIENT
UNRYLMA
VERTEX
VINTRON
VIVIDIND
WELTI
WOODSVILA
Earnings from companies including, ICBC, PetroChina, HP Inc., Royal Bank of Canada, Best Buy and Dollar General.
The U.S. Republican National Convention takes place, with President Donald Trump speaking the final day, Aug. 27.
The Bank of Korea sets monetary policy and will hold a briefing on Thursday.
Fed Chair Jerome Powell speaks at event on Thursday.
These are the main moves in markets:
Stocks
S&P 500 futures advanced 0.2% as of 9:25 a.m. in Tokyo. The gauge rose 0.3% on Friday.
Japan’s Topix index was little changed.
South Korea’s Kospi rose 0.1%.
Australia’s S&P/ASX 200 Index dipped 0.2%.
Currencies
The yen was at 105.88 per dollar, down 0.1%.
The euro bought $1.1797, little changed.
The offshore yuan traded at 6.9152 per dollar, up 0.1%.
Bonds
The yield on 10-year Treasuries remained at 0.63%.
Australia’s 10-year yield was steady at about 0.88%.
Commodities
West Texas Intermediate crude was flat at $42.34 a barrel.
Gold fell 0.3% to $1,934.93 an ounce.
SPOT WEEKLY LEVELS TO WATCH
NSE NIFTY SPOT 11371.60
RESISTANCE 11458 / 11547, SUSTAINING ABOVE 11547 IT WILL TEST UPSIDE LEVELS OF 11641 / 11822.
SUPPORT SEEN AT 11285 / 11195, SUSTAINING BELOW 11190 WE MAY SEE DOWNSIDE LEVELS OF 11109 / 11024 / 10874.
BANKNIFTY SPOT
RESISTANCE 22580 / 22865, SUSTAINING ABOVE 22865 IT WILL TEST UPSIDE LEVELS OF 23055 / 23150 / 23323.50.
SUPPORT SEEN AT 22020 / 21856, SUSTAINING BELOW 21740 WE MAY SEE DOWNSIDE LEVELS OF 21662 / 21461 / 21182 / 21024.
SHORT TERM TRADING CALLS, INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ THE DISCLAIMER ON HOME PAGE BELOW BEFORE TRADING.
GSFC CMP BUY 63.45 WITH SL BELOW 59 TGT 65.50 / 68 / 70.50 / 73.
SHORT TERM TRADING CALL UNION BANK
UNIONBANK BUY CMP 30.45 WITH SL BELOW 28.50 TGT 31.50 / 32.25 / 33 / 33.75 / 35.
SHORT TERM CALL RBL BANK
RBLBANK BUY CMP 184.15 WITH SL BELOW 172 TGT 193 / 200 / 208 / 216.
SHORT TERM CALL KOTAKBANK
KOTAKBANK BUY CMP 1338 WITH SL BELOW 1300 TGT 1358 / 1376 / 1390 / 1403.
SHORT TERM TRADING CALLS. TRADE WITH STRICT CALLS :
BAJFINANCE CMP 3389 SL BELOW 3305 TGT 3435 / 3465 / 3495 / 3525 / 3560.
AJANTA PHARMA : TRADING CALLS
BUY
CMP 1622 WITH SL BELOW 1570 TGT 1645 / 1665 / 1688 / 1705++
Stock under F&O ban on NSE 24-Aug-20
1 ADANIENT
2 AUROPHARMA
3 BHEL
4 CANBK
5 IBULHSGFIN
6 MUTHOOTFIN
7 NATIONALUM
8 PNB
9 RBLBANK
वक्रतुण्ड महाकाय सूर्यकोटि समप्रभ ।
निर्विघ्नं कुरु मे देव सर्वकार्येषु सर्वदा ॥21 Aug BSE CLOSED @ 38434.72 ✅ 214.33 Pnts & NSE CLOSED @ 11371.60 ✅ 59.40 Points, BankNifty Closed 22299.60 ✅ 300.15 Points & India VIX Closed 19.9375 ❌ 0.6800 Points.
Weekly 17 - 21 Aug BSE CLOSED @ 38434.72 ✅ 557.38 Pnts & NSE CLOSED @ 11371.60 ✅ 193.20 Points, BankNifty Closed 22299.60 ✅ 620.20 Points & India VIX Closed 19.9375 ❌ 1.7350 Points.
Key Changes in Nifty Indices
Nifty 50 Index
Inclusions: Divi’s Laboratories, SBI Life Insurance.
Exclusions: Bharti Infratel, Zee Entertainment Enterprises.
Nifty Next 50
Inclusions: Adani Green Energy, Alkem Laboratories, Bharti Infratel, L&T Infotech, Tata Consumer Products.
Exclusions: Divi's Laboratories, NHPC, Page Industries, SBI Life Insurance, Shriram Transport Finance.
Nifty 500 Index
Inclusions: Aarti Drugs, ABB Power Products and Systems, Adani Enterprises, Alembic, Alok Industries, Chalet Hotels, Gujarat Ambuja Exports, Huhtamaki PPL, IOL Chemicals and Pharma, Navneet Education, Polyplex Corporation, Shilpa Medicare, Solara Active Pharma Sciences, Supreme Petrochem, Suven Pharmaceuticals, Tata Chemicals, Yes Bank.
Exclusions: Adani Power, GE T&D India, Hexaware Technologies, Himatsingka Seide, IFCI, India Tourism Development Corporation, IndoStar Capital Finance, Intellect Design Arena, Jubilant Life Sciences, KPR Mills, Mahindra CIE Automotive, Nava Bharat Ventures, Sadbhav Engineering, Shree Renuka Sugars, Take Solutions, Time Technoplast, Vesuvius India.
Nifty Midcap 100 Index
Inclusions: Adani Enterprises, Alembic Pharmaceuticals, ICICI Securities, Navin Fluorine International, Page Industries, Sanofi India, Shriram Transport Finance, Tata Chemicals, Yes Bank, Zee Entertainment Enterprises.
Exclusions: Adani Power, Alkem Laboratories, Hexaware Technologies, IDBI Bank, Jubilant Life Sciences, Larsen & Toubro Infotech, Mangalore Refinery & Petrochemicals, PNB Housing Finance, Quess Corp, Tata Consumer Products.
Nifty Smallcap 100 Index
Inclusions: Alok Industries, Amber Enterprises, BASF India, Bharat Dynamics, Central Depository Services (India), Engineers India, FDC, IDBI Bank, Indian Bank, Indian Energy Exchange, JB Chemicals & Pharmaceuticals, PNB Housing Finance, Suven Pharmaceuticals, Thyrocare Technologies, Westlife Development.
Exclusions: Ashoka Buildcon, Galaxy Surfactants, Gujarat Alkalies & Chemicals, Gujarat State Fertilizers & Chemicals, Himadri Speciality Chemical, Hindustan Copper, ITI, JM Financial, Lakshmi Machine Works, Metropolis Healthcare, MMTC, Navin Fluorine International, NCC, PNC Infratech, Raymond.
Alert: All changes in the indices will be effective from September 25.
Stocks To Trade Today :
Divi's Laboratories & SBI Life Insurance: To be included in the Nifty 50 index from September 25.
Bharti Infratel & Zee Entertainment: To be excluded in the Nifty 50 index from September 25.
Future Retail: Bloomberg News reports that the company is in talks with banks led by State Bank of India to raise cash to help pay interest worth $14 million due on its dollar notes. The company has missed the earlier deadline of July 22 and is currently in a 30-day grace period that expires today. Failure to make the payment within the grace period would constitute as a default.
Future Enterprises: Defaulted in payment of interest on NCD’s worth Rs 12.65 crore which was due on August 16.
GMM Pfaudler: To acquire 54% stake in the global business of the Pfaudler group for a total consideration of $27.4 million. The company will acquire 34.4% of the stake by itself and 19.6% stake through its wholly-owned subsidiary Mavag AG. The acquisition is likely to be completed in the next 4-5 months.
Siemens: Competition Commission of India approves proposed acquisition of C&S Electric.
Hindalco: Signs MoU with Ultratech to deliver 1.2 million tonnes of red mud per annum to Ultratech's 14 cement plants located across seven states. Red Mud is also known as Bauxite residue.
HG Infra Engineering: To consider raising funds via equity offerings on August 25.
Indian Bank: CRISIL revised outlook on the bank's tier-1 bonds worth Rs 2,100 crore to negative from rating watch with developing implications. The rating of CRISIL AAA has been maintained.
Healthcare Global: Reports a decline of 28.2% in its revenue year-on-year for the June quarter. Net loss has widened to Rs 39.8 crore from Rs 18 crore. Ebitda fell 58.5% to Rs 18.3 crore while margins declined to 9.5% from 16.4% last year.
Non-Nifty Earnings Today: Union Bank of India, Punjab National Bank, Indiabulls Housing Finance, Oil India, Kolte-Patil Developers, Rossari Biotech.
SHORT TERM CALL Buy Suven Life Sciences Cmp 63 SL Below 55 Tgt 66 / 69 / 72 / 75 / 78++ In Coming Days..
