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
SHORT TERM CALL Buy Suven Life Sciences Cmp 63 SL Below 55 Tgt 66 / 69 / 72 / 75 / 78++ In Coming Days..
