CLOSING INDEX

 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.

TRADING CALLS

 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.   

MARKET NEWS

• 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

DIVIDENDS & RESULTS

 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

CASH STOCKS TO TRADE ON

 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. 

FNO ROLLOVER CUES

 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) 

WORLD INDICES UPDATES

 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. 

BAN FO STOCKS 26.08.2020

 *F&O Ban (26-08-2020):*

ASHOKLEY

BHEL

CANBK

GMRINFRA

VODA IDEA

LICHSGFIN

NATIONALUM

PNB

SAIL

VEDL

STOCKS TO WATCH FOR TRADE

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.