30 Sep 20
BSE CLOSED @ 38067.93 ✅ 94.71 Points
NSE CLOSED @ 11247.55 ✅ 25.15 Points
BankNifty Closed 21451.80 ✅ 40.50 Points
India VIX Closed 19.5300 ❌ 0.2450 Points.
Sep Month
BSE CLOSED @ 38067.93 ❌ 560.36 Points
NSE CLOSED @ 11247.55 ❌ 139.95 Points
BankNifty Closed 21451.80 ❌ 2302.55 Points
India VIX Closed 19.5300 ✅ 3.3050 Points.
Indraprastha Gas: ICRA reaffirmed credit rating of IGL for Rs 4,000 crore at AAA and A1+. Outlook on the long term rating is stable.
Sumitomo Chemical India: Promoter entity Sumitomo Chemical Company to sell up to 1,64,83,654 equity shares in company on September 30 and October 1. Floor price for the sale is fixed at Rs 270 per share.
Garware Polyester: CARE reaffirmed long term credit rating at A and revised outlook from stable to positive.
Bandhan Bank: Company appointed Rahul Parikh as Chief Marketing & Digital Officer.
VA Tech Wabag: Company approved the allotment of 75 lakh equity shares at a price of Rs 160 per equity share aggregating to Rs 120 crore by way of preferential issue to Rekha Rakesh Jhunjhunwala (50 lakh shares), Basera Home Finance (15 lakh shares), and Sushma Anand Jain and Anand Jaikumar Jain (Joint Holding) (10 lakh shares).
Welspun Corp: Company received multiple orders of approximately 147 KMT valuing close to Rs 1,400 crore. With these orders, total order book stands at 755 KMT valued at approximately Rs 6,300 crore.
Shriram City Union Finance: Company's officials will meet Hara Global Capital Management, and Ruane, Cunniff and Goldfarb, Inc via conference call on September 30.
Graphite India: Senior management of the company is scheduled to virtually meet analysts / investors on September 30.
Metropolis Healthcare: Officials of the company will hold investor meeting on October 1.
Rane Engine Valve: Company on October 23 to consider September quarter earnings.
Jamna Auto Industries: Company's officials will hold conference call with analysts/ institutional investors on October 1.
Chambal Fertilisers & Chemicals: PhillpCapital (India) will be organizing an investors group meeting (virtual) with representative of the company on September 30.
Godawari Power & Ispat: Management of the company will be meeting with Investor/Analyst/Advisers/Fund House /Institutional /Broker etc. on September 30.
3i Infotech: Company on October 22 to consider September quarter earnings.
Indiabulls Housing Finance: Launches buyback of all its bonds maturing in the next 12 months. The company has further sold a portion of its stake in OakNorth Holdings. It has now sold some stake to TEMF - a fund managed by Toscafund Asset Management for approximately Rs 630 crore. The company has now raised a total of Rs 1,832 crore as fresh equity in the month of September.
Sumitomo Chemical India: Promoter Sumitomo Chemical Company to sell up to 1.65 crore shares or 3.3% stake through an Offer For Sale (OFS). The stake is being sold in order to comply with minimum public shareholding norms. The floor price of Rs 270 per share is a 9.2% discount to Tuesday's closing price. The stake sale will fetch Rs 445 crore to the promoters and bring their stake in the company down to 75% from 78.3%. The OFS for non-retail investors opens today while it opens for retail investors tomorrow.
Arvind Fashions: Wholly-owned subsidiary Arvind Lifestyle Brands and Gap Inc. have decided to mutually terminate their franchise business relationship in India. The company cited the impact of Covid-19 as the reason behind the step. Both companies will now work out modalities regarding transition of the Gap business. The company has appointed an investment banker to find a buyer for the Gap business.
Dhanlaxmi Bank: The Reserve Bank of India has appointed DK Kashyap as the second Additional Director on the bank's board. Kashyap, currently a general manager at the RBI will be on the board till September 2022.
Welspun Corp: Wins multiple orders of approximately 147 Kilo Metric Tonnes worth close to Rs 1,400 crore. The company's current order book now stands at Rs 6,300 crore.
NHPC: Signs MoU with the Power Ministry, detailing targets for the year 2020-21. The generation target has been set at 27,500 million units as against 26,000 units the previous year. The revenue target has been set at Rs 8,900 crore while the target for operating profit, as a percentage of revenue has been set at 38%.
Power Finance Corporation: Government sets revenue target of Rs 36,000 crore for FY21.
PSU Stocks: Bloomberg News reports that Anil Agarwal is seeking at least $5 billion for a fund, targeting companies in which the Indian government plans to sell stake. Agarwal is targeting an initial raise of $1 billion or more for the proposed India Direct Investment Fund.
Oil India: Chairman Sushil Mishra says that the company hopes to control the blowout at its well in Assam within the next two months. The losses from the blowout are estimated to be Rs 179 crore.
PVR: To consider raising funds via NCDs on October 5.
HDFC: NCLT Mumbai has sanctioned the scheme of amalgamation for merger of HDFC ERGO Health Insurance with and into HDFC ERGO.
Nirlon: Board has appointed Rajindar Pal Singh as the company’s Chairman from October 1.
Dixon Tech: ICRA has reaffirmed long term ratings at ICRA A+. Outlook has been revised to positive from stable.
Dish TV: Shareholders have approved reappointment of Jawahar Lal Goel as Managing Director till March 2022.
GHCL: CCI approves de-merger of the company's textile business into its wholly-owned arm GHCL Textiles.
BASF India: Has received a revised tax notice from the Karnataka government worth Rs 85.77 crore from Rs 82.74 crore earlier. The company is taking legal steps. These tax notices were for the periods 2006-2007 and 2015-2016 by treating the stock transfers of the company’s Mangalore plant as interstate sales to dealers and its subsequent stay by the Karnataka Appellate Tribunal on recovery of demand.
Future Enterprises: Has defaulted in payment of interest on NCDs worth Rs 16.11 crore which was due on September 27.
Puravankara: Has allotted NCDs worth Rs 50 crore.
Central Bank of India: Former RBI regional director PJ Thomas has been nominated by the central government as a Director in the Bank.
F&O Cues
Nifty October futures closed at 11,238; premium of 16 points from 15 points
Nifty October futures add 1% and 95,000 shares in Open Interest
Nifty Bank October futures closed at 21,488; premium of 77 points from 87 points
Nifty Bank October futures add 2% and 34,000 shares in Open Interest
Nifty Put-Call Ratio at 1.34
Nifty Weekly Expiry: October 1
Maximum Open Interest on Call side at 11,500 strike (40 lakh shares)
Maximum Open Interest on Put side at 11,000 strike (33.2 lakh shares)
Active Options: 11,200 Put (8.7 lakh shares) and 11,400 Call (14 lakh shares)
Nifty Monthly Expiry: October 29
Maximum Open Interest on Call side at 11,500 strike (18 lakh shares)
Maximum Open Interest on Put side at 10,500 strike (35 lakh shares)
China purchasing manager indexes are due Wednesday, and expected to show September manufacturing improved slightly while non-manufacturing moderated from August’s level.
The EIA crude oil inventory report comes out Wednesday.
The September U.S. employment report on Friday will be the last before the November election.
These are the main moves in markets:
Stocks
The S&P 500 Index fell 0.5% as of 4 p.m. New York time.
The Stoxx Europe 600 Index dipped 0.5%.
The MSCI Asia Pacific Index was little changed.
Currencies
The Bloomberg Dollar Spot Index declined 0.3%.
Sterling rose 0.2% to $1.2866.
The Japanese yen weakened 0.2% to 105.67 per dollar.
Bonds
The yield on 10-year Treasuries fell less than one basis point to 0.65%.
Germany’s 10-year yield dipped two basis points to -0.55%.
Britain’s 10-year yield decreased two basis points to 0.18%.
Italy’s 10-year yield declined three basis points to 0.85%.
Commodities
West Texas Intermediate crude tumbled 3.8% to $39.04 a barrel.
Gold rose 0.8% to $1,897.22 an ounce.
Silver rose 2.3% to $24.23 per ounce.
Stocks Slump as Traders Weigh Outlook for Stimulus: Markets Wrap
The end-of-month rebound in global equities faded as investors weighed prospects for fiscal stimulus in the U.S. and the outlook for the coronavirus pandemic. Oil tumbled on concern slow growth will limit demand.
The S&P 500 Index slumped, with more than two stocks falling for every one that advanced, after talks on expanding aid ended for the day with plans to resume discussions tomorrow. An exchange-traded fund that tracks the S&P 500 gained 0.2% in after-hours trading after a study showed a Regeneron Pharmaceuticals Inc. antibody cocktail may help treat coronavirus patients outside of the hospital.
Asia stocks were set for a mixed start as traders awaited data from China that will shed light on the strength of the economy's recovery. U.S. shares earlier slipped on low volumes and the dollar fell. Equity futures edged lower in Tokyo and Australia, while Hong Kong contracts rose. S&P 500 futures dipped at the open. The S&P 500 declined 0.5% with more than two stocks falling for every one that advanced, after talks on expanding aid ended for the day with plans to resume discussions Wednesday. Oil fell toward $39 a barrel in New York. Treasuries were little changed. China markets will shut from Thursday for a week of national holidays. Volume on U.S. equity exchanges was subdued on Tuesday ahead of the first presidential election debate. Wednesday marks the final trading day of September and the end of the quarter, so portfolio rebalancing could also exacerbate market moves.
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