CLOSING INDEX

 23 Sep 20 

BSE CLOSED @ 37668.42 ❌ 65.66 Points 

NSE CLOSED @ 11131.85 ❌ 21.80 Points

BankNifty Closed 21178.50 ✅ 39.40 Points 

India VIX Closed 20.9900 ❌ 0.4200 Points.

Stocks To Watch

Tata Group Stocks: Tata Group Stocks: Shapoorji Pallonji Group in a statement said that a separation from the Tata Group is necessary due to the potential impact of the continuing litigations on the livelihoods and the economy. The statement comes after the Supreme Court barred the Mistry group from pledging or selling any Tata shares until October 28. Also in focus will be the two SP Group companies - Sterling & Wilson Solar and Forbes & Company.

Vedanta: Vedanta Resources avails loan facility of $1.75 billion from lenders like JPMorgan Chase, Barclays, Credit Suisse, Deutsche Bank and Standard Chartered Bank. Four promoter entities have created a combined share pledge of 186.3 crore shares or 50.13% of total equity as per the agreement on September 18. The funds raised, pursuant to the issue of bonds, via Vedanta Holdings Mauritius, will be utilised towards funding the proposed de-listing of the company's shares from the bourses, as per SEBI regulations. Promoters held 50.14% stake in the company as per the recent shareholding pattern.

Central Bank of India: Launches QIP issue on Tuesday. Floor price of Rs 16.18 per share is a 5.9% discount to Tuesday's closing price. The lender may offer a discount of not more than 5% on the floor price, as per SEBI guidelines. The panel is scheduled to meet on September 25 to consider the date of closing the QIP and determining its issue price.

Reliance: Jio introduces postpaid plans, which include subscription to Netflix, Amazon Prime, Disney + Hotstar. Family plan, data rollover, in-flight services are also included in the offering. Services begin September 24 in Jio stores along with home delivery.

Sequent Scientific: Entered into a definitive agreement with Dr Huseyin Aydin for the acquisition of 40% stake from him in Provet for $17.1 million. Provet is among the top three and the largest local company in veterinary medicine market in Turkey. The company already holds a 60% stake in Provet through its Irish arm. The ownership of Sequent Scientific in Provet will rise to 100% post this acquisition. Deal likely to be completed on or before October 31.

Max Healthcare Institute: Promoter Max Ventures Investment Holdings to undertake open market sale of 1.67 crore shares (1.85%) with face value of Rs 10 per share, in order to achieve minimum public shareholding as per SEBI guidelines. Promoters had 82.24% stake in the company as per the most recent public shareholding pattern.

HCC: Closed sale of Farakka Raiganj Highways to Cube Highways at an enterprise value of Rs 1,508 crore. The HCC group will receive a total expected pay-out of Rs 603 crore over a period of time.

Fortis Healthcare: Supreme Court adjourns Fortis Open Offer case to October 14. Lawyer Harish Salve stated that IHH wants to invest in the Fortis Hospital chain and re-brand it.

Linde India: The company has sought an extension of the 'hold separate arrangement' for the balance tenure of the gas supply agreement up to November 2021 with the Competition Commission of India. This is due to Inox Air Products confirming its inability to acquire the company's Belloxy Divestment Business, the binding term sheet for which was signed in December 2019.

DHFL: SEBI has restrained certain members of Wadhawan family including Kapil and Dheeraj Wadhawan from accessing securities markets.

CARE Ratings, ICRA: SEBI imposes a penalty of Rs 1 crore each in the IL&FS case.

Future Retail: Defaulted in payment of NCDs interest worth Rs 15.87 crore, which was due on September 21.

Biocon: Appointed Anupam Jindal as the CFO of the company from September 22. Anupam Jindal is the ex-Group CFO of Sterlite Tech.

Chemcon Speciality Chemicals: IPO subscribed 12.65 times on Day 2. Institutional subscription at 1.37 times, non-institutional subscription at 3.51 times and retail subscription at 23 times.

CAMS: IPO subscribed 1.93 times on Day 2. Institutional subscription at 0.83 times, non-institutional subscription at 1.22 times and retail subscription at 2.91 times.

Angel Broking: IPO subscribed 0.77 times on Day 1. Inst

FNO BAN STOCKS

 Stock under F&O ban on NSE 23-Sep-20

1 GLENMARK

2 IBULHSGFIN

3 IDEA

4 VEDL

Dividens & Results

 Today's Corporate Action 23rd Sep Ex Date

KSE Interim Dividend - Rs. - 15.0000

TEXRAIL Final Dividend - Rs. - 0.1000

WESTLEIRES Dividend - Rs. - 0.1000

Today's Board Meetings  23-Sep-20

AIML Audited Results

DHRUV A.G.M.;General

KAARYAFSL General

SATINDLTD Amalgamation

SUNRAJDI Audited Results;General;Quarterly Results

Some events to watch this week

Powell appears before the House Select Subcommittee on the coronavirus to discuss the central bank’s response on Wednesday.

New Zealand rate decision on Wednesday.

U.S. initial jobless claims are due Thursday.

These are some of the main moves in markets:

Stocks

The S&P 500 advanced 1.1% as of 4 p.m. New York time.

The Stoxx Europe 600 Index gained 0.2%.

The MSCI Asia Pacific Index fell 0.8%.

Currencies

The Bloomberg Dollar Spot Index climbed 0.5%.

The euro decreased 0.5% to $1.1708.

The Japanese yen depreciated 0.3% to 104.98 per dollar.

Bonds

The yield on 10-year Treasuries advanced one basis point to 0.67%.

Germany’s 10-year yield advanced three basis points to -0.51%.

Britain’s 10-year yield gained five basis points to 0.203%.

Commodities

West Texas Intermediate crude advanced 0.7% to $39.60 a barrel.

Gold depreciated 0.5% to $1,902.20 an ounce.

World Indices

 Stocks Climb as Dip Buyers Emerge After Selloff: Markets Wrap

Stocks climbed as dip buyers emerged after the market selloff, tempering concern over remarks from Federal Reserve officials that pointed to a slow economic recovery. The dollar rose.

Most groups in the S&P 500 advanced, with retailers and tech companies among the biggest gainers. The Nasdaq 100 notched a back-to-back rally, while the Dow Jones Industrial Average underperformed amid a drop in banks. Equities fell earlier Tuesday as Fed Chairman Jerome Powell said the economy has a long way to go before fully recovering and will need further support. Meanwhile, Chicago Fed President Charles Evans noted that rates could rise before the inflation target is reached. After the close of regular trading, Nike Inc. surged as the sportswear maker returned to profit and posted far better revenue than predicted.

Asian stocks headed for a mixed start as investors weighed signs of dip buyers emerging in the U.S. session against concern over remarks from Federal Reserve officials that pointed to a slow economic recovery. The dollar rose. Japan returns from a holiday period that’s seen weakness for regional shares, with futures on the Nikkei 225 remaining below the level when equities last traded in Tokyo on Friday. Hong Kong contracts dipped, while those in Australia advanced. S&P 500 futures opened little changed. The Nasdaq 100 notched a back-to-back rally, while the Dow Jones Industrial Average underperformed amid a drop in banks. Crude oil was steady at the start. Global shares are heading for their first monthly drop since March.