CLOSING INDEX

 08 Sep 20, BSE CLOSED @ 38365.35 ❌ 51.88 Pnts & NSE CLOSED @ 11317.35 ❌ 37.70 Points, BankNifty Closed 22744.40 ❌ 200.65 Points & India VIX Closed 22.7225 ✅ 00.7150 Points.

CALLS 08.09.2020

BUY ADANIPOWER CMP 37.20 SL BELOW 36 TGT 38.25 / 39 / 39.50 / 40.25..

HIGH RISK BUY BHARTI AIRTEL CMP 515.45 SL BELOW 495 TGT 521 / 525 / 530 / 538 / 545 / 550.

BUY CANFIN HOME CMP 371 SL BELOW 361 TGT 376 / 381.50 / 386 / 391..

BUY HEXAWARE CMP 405 SL BELOW 392 TGT 409 / 415 / 421 / 426 / 432..

BUY HINDALCO CMP 187.50 SL BELOW 181 TGT 190.25 / 193 / 195.50 / 198 / 200.5..

BUY SAIL 40.40 SL BELOW 38.50 TGT 40.90 / 41.50 / 42 / 42.75 / 43.25 / 44..

BUY TORENTPHARMA CMP 2782.50 SL BELOW 2700 TGT 2808 / 2832 / 2855 / 2880 / 2905 / 2935..

TRADE WITH STRICT STOPLOSSES  

 

Stocks To Watch

Dr Reddy's: Announces the launch of Fulvestrant Injection 250 mg/5ml per single-dose syringe, a therapeutic equivalent generic version of Faslodex injection, approved by the U.S. FDA. The Faslodex brand and generic market had U.S. sales of approximately $407 million for the 12-months ending June 2020 as per the IQVIA.

Amber Enterprises: Launches QIP issue on Monday. Floor price of Rs 1,798.72 per share is a 2.1% discount to Monday's closing price. As per SEBI regulations, the company may offer a discount of not more than 5% on the floor price. The panel will meet on or after September 10 to decide on the closure of the QIP and the price for sale.

Bharat Dynamics: The government proposes to sell up to 10% stake or 1.83 crore shares through an Offer for Sale. It also has the option to sell an additional 5% stake or 91.6 lakh shares. The floor price of Rs 330 per share is a 14.2% discount to Monday's close. The government looks to raise up to Rs 907.2 crore from the OFS. On full subscription, the government's stake in the company comes down to 72.75% from the previous 87.75%. The OFS opens for non-retail investors today and for retail investors on September 9.

ITI: Signs MoU with Ilantus Technologies to deliver solutions to government agencies, defence, PSUs and the banking sector. The company has also received a Letter of Intent from Bharti Airtel for fibre-to-home rollout in eight circles across the country. The work involves laying of optical fibre backbone for providing broadband connectivity throughout the country. The time period to execute the order would be three months.

EIH: Board approved raising Rs 350 crore via rights issue. Promoters intend to fully subscribe to their rights entitlement and have reserved their right to subscribe to any additional equity shares, amongst themselves, in the event of under-subscription of the said issue.

Parag Milk Foods: The board has approved issuing secured Non-Convertible Debentures (NCDs) up to Rs 230 crore in tranches from time-to-time on a private placement basis.

Dhanuka Agritech: Launched two fungicides for grapes farmers.

Future Lifestyle Fashions: As on date, 95% of the company's stores have re-opened. Sales of Central in August rose 33% compared to July. Brand Factory sales rose 50% compared to July. Plus size fashion retail chain aLL saw sales double in August, as compared to July. Sales were driven by flagship brands like Lee Cooper, Indigo Nation, Scullers and Jealous 21.

Genus Paper & Boards: Resolution professional for NS Papers has issued a Letter of Intent to the company with regard to the resolution plan submitted for NS Papers. The Letter of Intent has been accepted by the company.

Indian Overseas Bank: Reduced MCLR rates by 10 basis points across various tenors from September 10. One-month MCLR now at 7.4% while one-year MCLR at 7.55%.

HCC: Curreunt default as on August 31 stands at Rs 1,481.4 crore. Total financial indebtedness at Rs 10,339.9 crore.

VIP Industries: Board approved allotment of NCDs worth Rs 50 crore.

Future Consumer: Has defaulted in payment of principal and interest on NCDs amounting to Rs 22.03 crore due on September 5. The Company has approached the debenture trustees seeking deferment of the said obligations such that 50% of the amount due shall be paid on or before September 30 and the balance 50% to be paid by December 31. The debenture trustees having approached few of the debenture holders to obtain their consent to the aforesaid proposal for deferment, and in order to have clarity on the same, have called for a meeting of the debenture holders on September 9.

Happiest Minds Technologies: IPO subscribed 2.87 times on Day 1. Institutional subscription at 0.08 times which doesn’t include anchor portion. Non-institutional investor subscription at 0.62 times. Retail subscription at 14.61 times.

Non-Nifty Earnings Today: CESC, Dishman Carbogen Amcis, Future Consumer, Jindal Stainless, SML Isuzu. 

FNO ANAYLSIS

 F&O Cues

Nifty September futures closed at 11,390; premium of 35 points from 41 points

Nifty September futures shed 0.1% and 6,000 shares in Open Interest

Nifty Bank September futures closed at 23,015; premium of 70 points from 72 points

Nifty Bank September futures shed 6% and 91,000 shares in Open Interest

Nifty Put-Call Ratio at 1.25

Nifty Weekly Expiry: September 10

Maximum Open Interest on Call side at 11,600 strike (29.2 lakh shares)

Maximum Open Interest on Put side at 11,000 strike (26.2 lakh shares)

Active Options: 11,300 Put (6.5 lakh shares) and 11,400 Call (7.2 lakh shares)

Nifty Monthly Expiry: September 24

Maximum Open Interest on Call side at 11,500 strike (19.8 lakh shares)

Maximum Open Interest on Put side at 11,000 strike (28.1 lakh shares) 

FNO BAN STOCKS 08.09.20

 Stock under F&O ban on NSE 8-Sep-20

1 BHEL

2 CANBK

3 IBULHSGFIN

4 IDEA

5 JINDALSTEL

6 PNB

DIVIDENDS & RESULTS

 Today's Corporate Action 8th Sep Ex Date

GUJHOTE Dividend - Rs. - 2.5000

HERCULES Dividend - Rs. - 1.8000

NITINSPIN Dividend - Rs. - 0.6000

RAJPALAYAM Dividend - Rs. - 1.0000

STOVACQ Dividend - Rs. - 60.0000

UMANGDAIR Dividend - Rs. - 0.5000

Today's Key Results 8-Sep-20

AADIIND

ALSTONE

ASHIS

ATCOM

BALPHARMA

BCG

BEEYU

CESC

CHDCHEM

DCAL

DHRUVES

DYNAMICP

FCONSUMER

GRATEXI

INDOBORAX

IVC

JSL

LIMECHM

MAFATIND

NIDL

PIXTRANS

RAJPACK

SHARONBIO

SIMPLEX

SKPMIL

SMLISUZU

SPENCER

SYNTHFO

TAALENT

TEXRAIL

VAARAD

VAICC

VIAANINDUS

ZENLABS

Stocks in the news

EIH: Board approved raising up to Rs 350 crore via right issue

Amber Enterprises India: Board approved QIP issue on September 7 at a floor price of Rs 1,798.72 per share.

Rushil Decor has fixed September 11 as record date to receive Rights Entitlement in the rights issue.

Orissa Minerals Development Company: LIC cut its stake in the company to 11.16 percent from 13.2 percent earlier.

Dr Reddy's Laboratories launched Fulvestrant injection in the US market.

McNally Bharat Engineering Company: Q1 loss at Rs 30.67 crore versus a loss of Rs 32.58 crore, revenue at Rs 104.95 crore versus Rs 222 crore YoY.

Parag Milk Foods: Q1 profit at Rs 3.23 crore versus Rs 27.5 crore, revenue at Rs 435.6 crore versus Rs 629.74 crore YoY.

SBI plans to recruit more than 14,000 people this year.

Some key events coming up

The ECB will probably hold rates on Thursday but indicate that downside risks have intensified, suggesting further easing is possible before year-end.

U.S. CPI data is due Friday, with consumer prices expected to rise in August for a third straight month.

These are the main moves in markets:

Stocks

Futures on the S&P 500 Index gained 0.5% at 5:42 p.m. New York time.

The Stoxx Europe 600 Index climbed 1.7%.

The MSCI Asia Pacific Index declined 0.3%.

The MSCI Emerging Market Index fell 0.5%.

Currencies

The Bloomberg Dollar Spot Index increased 0.3%.

The euro slid 0.2% to $1.1816.

The British pound dropped 0.9% to $1.3157.

The Japanese yen was little changed at 106.28 per dollar.

Bonds

The yield on 10-year Treasuries was unchanged at 0.72%.

Germany’s 10-year yield added 1.1 basis points to -0.464%.

Britain’s 10-year yield dropped 1.4 basis points to 0.246%.

Japan’s 10-year yield gained 0.5 basis points to 0.039%.

Commodities

West Texas Intermediate crude fell 1.7% to $39.08 a barrel.

Gold weakened 0.2% to $1,930.26 an ounce.

Brent crude dropped 1.6% to $41.99 a barrel.

World Market

 Dow futures jump 250 points in overnight trading following the worst tech rout since March

Stocks futures climbed in overnight trading on Monday after technology shares suffered their worst sell-off in more than five months.

Futures on the Dow Jones Industrial Average gained about 250 points, while the S&P 500 futures rose 0.5%. The Nasdaq 100 futures also climbed 0.2%.

Stocks just snapped a five-week winning streak after a big reversal in major technology stocks last week. Steep losses in Amazon, Apple, Microsoft and Facebook — 2020′s market leaders — drove the tech-heavy Nasdaq Composite down 3.3% to suffer its worst week since March 20. The Dow and the S&P 500 fell 1.8% and 2.3% last week, respectively, posting their biggest weekly losses since June. 

European Stocks Gain; Pound Hit by Brexit Discord: Markets Wrap

European stocks climbed as analysts speculated the market could be relatively resilient to the tech-led downdraft in the U.S. The pound sank on concern the U.K. is inching closer to a no-deal Brexit.

The Europe Stoxx 600 rose Monday with broad gains led by automakers. Oil extended its retreat below $40 a barrel as a price cut by Saudi Arabia signaled fuel consumption is wavering in key markets. Futures on the S&P 500 Index turned higher. The dollar gained while Treasury yields were little changed.