Stock Market Highlights for August 08, 2023: Sensex, Nifty fall in cautious trade ahead of RBI MPC

The benchmark equity indices fell on August 8 as investors turned cautious ahead of the key events — the RBI’s monetary policy and US inflation data — due to be announced later this week.

Continuous foreign fund outflows and a weak trend in the Asian and European markets also played spoilsport for the domestic markets.

The 30-share BSE Sensex fell 106.98 points or 0.16 per cent to settle at 65,846.50. During the day, it declined 200.85 points or 0.30 per cent to 65,752.63.

The NSE Nifty slipped 26.45 points or 0.13 per cent to end at 19,570.85. Read more

The rupee depreciated 9 paise to settle at 82.84 (provisional) against the US dollar on Tuesday, weighed down by safe-haven dollar demand and a muted trend in domestic equities.

Foreign fund outflows also weighed on the local unit, analysts said. Read more

Oil India Ltd reported a standalone net profit of ₹1,613.43 crore for the quarter ended June 30, 2023, as against ₹1,555.49 crore in the previous year. The stock inched up by 0.29 per cent on the NSE to trade at ₹273.55.

Vascon Engineers Ltd reported a standalone net profit of ₹10.74 crore for the quarter ended June 30, 2023, as against ₹10.11 crore in the previous year. The stock rose by 4.88 per cent on the NSE, and traded at ₹54.85.

Zee Learn Limited has signed settlement agreement with J.C. Flowers Asset Reconstruction Private Limited to settle its obligations with respect to loans borrowed by certain trusts and entities.

Hikal’s standalone net profit for the quarter ended June 30, 2023, stood at ₹6.86 crore as against loss of ₹8.94 crore in the previous year. The company’s stock surged by 3.07% on the NSE and traded at ₹303.85.

Mayur Uniquoters reported its standalone net profit for the quarter ended June 30, 2023, at Rs 29.93 crore as against Rs 28.64 crore in the previous year.

The stock slips 0.24% on the NSE, trading at ₹510.25.

Talbros Automotive Components Ltd reported its standalone net profit for the quarter ended June 30, 2023, at ₹13.97 crore as against ₹9.69 crore in the previous year. The stock surges by 5.64% on the NSE, trading at ₹925.40.

Major gainers on the NSE at 3 pm are:

• Hero Motocorp (3.93%)
• SBI Life Insurance (3.69%)
• Cipla (3.57%)
• Tech Mahindra (1.98%)
• Tata Consumers (1.34%)

Major losers

• Adani Enterprises (-2.48%)
• Hindalco (-2.14%)
• M&M (-1.76%)
• Divi’s Laboratories (-1.70%)
• JSW Steel (-1.22%)

Stocks advanced on BSE at 3 pm on August 8 were 1,798 against 1,768 stocks that declined. Total stocks traded were 3,735. The number of stocks that recorded a 52-week high 266, and those that hit a 52-week low was 32.

Tata Power has singed a memorandum of understanding with Maharashtra government for development of 2800MW pumped hydro storage project. The stock gained 0.5% on NSE.

Lloyds Metals And Energy reported its standalone net profit for the quarter that ended June 30, 2023, at ₹403.25 crore as against ₹930.33 crore loss in the previous year. The stock rises by 2.88% on the NSE, trading at ₹670.35.

Ircon International Limited reported its net profit for the quarter ended June 30, 2023, at ₹161.66 crore as against ₹123.13 crore in the previous year. The stock slips by 0.49% on the NSE, trading at ₹101.30.

​Hindalco Industries​, one of the country’s largest aluminium and copper producers, reported a 40 per cent fall in first-quarter profit on Tuesday as softer volumes and weak metal prices weighed.

The company’s consolidated net profit fell to Rs 2,454 crore in the quarter ended June 30 from Rs 4,119 crore a year earlier.

Shares of Hindalco, the flagship metals producer of the Aditya Birla Group, fell as much as 2.8 per cent after the results and were among the top losers on the benchmark Nifty 50 index.

RailTel Corporation of India stock rises by 2.40% on the NSE, trading at ₹177.15. The company had bagged order worth Rs 700 crore from Pimpri Chinchwad Smart City.

Medicamen Biotech stock rises by 2.32% on the NSE, trading at ₹838.95. The company reported its net profit for the quarter ended June 30, 2023, at ₹4.4 crore as against ₹3.5 crore in the previous year.

Adani Ports and Special Economic Zone reported a 80 per cent rise in net profit to Rs 2119 crore in the June quarter, while revenue rose 24 per cent to Rs 6,248 crore.

The company’s EBITDA increased by 80 per cent to Rs 3765 crore on the back of cargo volumes that were up 12 per cent year-on-year at 101 million tonne, led by a container growth of 15 per cent.

The stock gained 1.48% on NSE.

SMS Pharmaceuticals reported its consolidated net profit for the quarter ended June 30, 2023, at ₹9.28 crore as against the loss of ₹9.8 crore in the previous year. The stock surges by 5.56% on the NSE, trading at ₹129.

Dilip Buildcon Limited bags order worth ₹270.07 crore for construction of observatory towers and viewing galleries, for New Zuari Bridge on NH17/NH-66 on Panjim- Mangalore Section on DBFOT Mode in the state of Goa. However, the stock slips by 0.84% on the NSE, traiding at ₹306.55.

Torrent Pharma

Citi

• Buy Rating
• Target Price - Rs 2180
• 12% YoY growth & 130bps QoQ/YoY EBITDA margin expansion are the positives
• The company’s growth is better than that of the market growth in India
• Margin expansion in curatio biz is a positive, while disruption in Brazil is disappointing

Jefferies

• Hold
• Target Price - Rs 1950
• Q1 revenue and EBITDA are on the expected lines
• Revenue grew 15% YoY in India, while Brazil sales grew just 3% YoY
• Branded market and recovery in Germany remain key revenue growth drivers
• Steady Ebitda margin expansion is a positive

Windlas Biotech Limited reported its consolidated net profit for the quarter ended June 30, 2023, at ₹12 crore as against ₹9.8 crore in the previous year. The stock surges by 3.76% on the NSE, trading at ₹330.

J Kumar Infraprojects reported its consolidated net profit for the quarter ended June 30, 2023, at ₹72.83 crore as against ₹61.91 crore in the previous year. The stock rises by 1.63% on the NSE, trading at ₹381.10.

Onmobile Global stock jumps 17.93% on the NSE, trading at ₹93.40. The company reported its consolidated net profit for the quarter ended June 30, 2023, at ₹9.85 crore as against ₹4.12 crore in the previous year.

HPL Electric & Power Ltd. has signed an agreement with West Bengal State Electricity Distribution Company Limited (WBSEDCL) for the deployment of an Advanced Metering Infrastructure (AMI) project, supported by the World Bank. HPL’s stock surges by 4.99% on the NSE, trading at ₹215.65.

Infosys Foundation, the CSR arm of Infosys, has announced the commencement of the second edition of its cultural festivals across eight cities in the country, in association with Bharatiya Vidya Bhavan, to promote India’s visual and performing arts. Infosys stock slips 0.21% on the NSE, trading at ₹1,390.05.

Godrej Consumer Product stock falls by 1.71% on the NSE, trading at ₹1,013.05. The company’s board had approved a capex of ₹900 crore for setting up new manufacturing sites.

Major gainers:

• Gland Pharma (20%)
• ltd Cementation (9.47%)
• RateGain (8.58%)
• Caplin Point Laboratories (8.46%)
• Stylam Industries (7.87%)

Major losers:

• Cressanda (-10.06%)
• Hle Glascoat (-6.38%)
• Reliance Infrastructure (-5.88%)
• Graphite (-5.65%)
• Olectra Greentech (-5.14%)

Praveg Limited has received work order from Ayodhya Development Authority (ADA) for developing, maintaining and managing the Tent City at Ayodhya, Uttar Pradesh.

The stock was up around 1.33% on BSE.

Hester Biosciences reported its consolidated net profit for the quarter ended June 30, 2023, at ₹6.71 crore as against ₹3.56 crore in the previous year. The stock surges by 6.64% on the NSE, trading at ₹1,820.

The stock of Jain Irrigation Systems Limited surges by 4.39% on the NSE, trading at ₹49.90. The company reported its consolidated net profit for the quarter ended June 30, 2023, at ₹36.64 crore as against loss of ₹5.79 crore in the previous year.

BEML stock rises by 2.61% on the NSE, trading at ₹2,056.95. The company had received a Letter of Acceptance from Bangalore Metro Rail Corporation (BMRC) for the supply of rolling stock contract 5RS-DM worth approx. ₹3,177 crore.

Chambal Fertilizers & Chemicals reported its consolidated net profit for the quarter ended June 30, 2023, at ₹338.60 crore as against ₹341.71 crore in the previous year. However, the stock inches up by 0.42% on the NSE, trading at ₹274.90.

Ganesha Ecosphere Ltd informed the exchange that the installed capacity of its wholly-owned subsidiary, Ganesha Ecopet Pvt Ltd, is being increased by setting up another production line of rPET Chips with capacity of 12,000 tons per annum (TPA) at its plant situated at Warangal, Telangana.

The stock inches up by 0.59% on the NSE, trading at ₹1,103.

Major gainers on the NSE at 12 noon are:

• Hero Motocorp (3.90%)
• Cipla (2.53%)
• SBI Life Insurance (1.74%)
• Tech Mahindra (1.51%)
• Wipro (0.99%)

Major losers:

• Adani Ports (-2.64%)
• Adani Enterprises (-2.25%)
• M&M (-2.16%)
• Divi’s Laboratories (-1.56%)
• Hindalco (-1.43%)

Stocks advanced on BSE at 12 noon on August 8 were 1,690 against 1,737 stocks that declined. Total stocks traded were 3,584. The number of stocks that recorded a 52-week high 237, and those that hit a 52-week low was 28.

Maruti Suzuki India on Tuesday said its board has approved the issue of shares on a preferential basis to Suzuki Motor Corporation (SMC) as consideration for the acquisition of 100 per cent stake in Suzuki Motor Gujarat.

Post such acquisition, Suzuki Motor Gujarat (SMG) will become a wholly-owned subsidiary of the company, Maruti Suzuki India (MSI) said in a regulatory filing.

“The Board approved the issue of MSI equity shares to SMC to pay for the SMG shares,” it added.

Adani Green Energy stock rises 2.81% on the NSE, trading at ₹993.05. Qatar Investment Authority had acquired a 2.7% stake in the company for ₹3,956 crore.

Gland Pharma stock jumps 20% on NSE, trading at ₹1611.05.

Gland Pharma’s net profit declined 15 per cent to ₹194 crore in the first quarter ended June 30, 2023 compared to ₹229 crore in the corresponding quarter of the previous financial year. The total revenue of the Hyderabad-based company increased 51 per cent to ₹1,209 crore against ₹857 crore in the same period last year.

Deep Polymers informed the exchanges about commencement of commercial production at its new manufacturing facility in Gandhinagar. The new facility is sophisticated and equipped with modern machineries from Coperion GmbH, Germany. The plant has been set up in record time of less than 9 months. The stock of Deep Polymers inches up by 0.31% on the BSE, trading at ₹92.

Central Bank of India has entered into a strategic co-lending partnership with Clix Capital Services Private Limited (formerly known as GE Money Financial Services Pvt. Ltd.) to offer MSME Loans at competitive rates. Shares of Central Bank of India trade at ₹30.05, inched up by 0.50% on the NSE.

Granules India Limited has received USFDA approval for the Abbreviated New Drug Application (ANDA) for Metoprolol Succinate ER Tablets.

The stock inches up by 0.58% on the NSE, trading at ₹322.40.

Nifty 50 August Futures (19,646) is marginally down today. The immediate outlook is unclear. Support is in the 19,620-19,600 region and resistance is in the 19,670-19,685 region. A breakout on either side of 19,600 or 19,685 will determine the next move.

A break above 19,685 will be bullish to see 19,780. On the other hand, a break below 19,600 can drag the contract down to 19,550 and lower. Click here to read more

Genus Power Infrastructures Limited’s shares went up by 4 per cent after the company reported that its wholly-owned subsidiary had been awarded a letter of award (LOA) valued at ₹2,209.84 crore (net of tax) for an Advanced Metering Infrastructure Service Provider (AMISP) role. This encompasses the design, supply, installation, and commissioning of 21.77 Lakhs Smart Prepaid Meters under the Revamped Distribution Sector Scheme (RDSS) on a DBFOOT basis. The achievement has propelled the company’s total order book to over ₹8,200 crore (net of tax).

The Bank Nifty August Futures (45,215) is up 0.54 per cent. Intraday resistance is at 44,250. A strong break above it can boost the bullish momentum. Such a break can take the Bank Nifty August Futures up to 45,500 in the coming sessions.

Support is around 44,900. The contract will come under pressure for a fall to 44,800-44,700 if it declines below this support. Click here to read more

Tata Consultancy Services (TCS) has been chosen as a strategic partner by the Government to transform the Government e-Marketplace (GeM) into a stateof-the-art public procurement platform with enhanced transparency, efficiency, and inclusivity.

TCS stock slides down by 0.60% on the NSE, trading at ₹3,463.30.

PB Fintech Ltd

CLSA

• Outperform rating
• Target Rs 890
• Strong core performance aided by robust credit disbursals
• Healthy core insurance revenue growth is a key positive
• Core EBITDA positive for second consecutive quarter
• Contribution margin expanded and expenses outside contribution inched up

Morgan Stanely

• Overweight rating
• Target Rs 810
• Beats analysts’ estimates on revenue, contribution
• Adjusted EBITDA reflect stronger core biz
• Core revenue, contribution and adjusted EBITDA expanded QoQ, despite Q1 being a weak season
• New premiums were up 40% YoY

Nippon Life India Asset Management Limited (NAM India) has announced the launch of Nippon India Innovation Fund, an open-ended equity scheme investing in innovation theme.

The fund will predominantly invest in a diversified portfolio of companies that are driving innovation across themes like fintech, speciality chemicals, pharma, auto, auto ancillaries, internet-based businesses, MNCs, etc.

The fund will invest at least 80% of its assets in innovative companies that have the potential to disrupt their industries and create significant value for investors in the long term.

It will have the flexibility to invest across market caps and sectors. This will allow it to identify companies that are ahead of the curve in terms of innovation, technologies or business models.

The fund may be well-positioned to capture companies that have the potential for significant growth.

The NFO opens on 9 August 2023 and closes on 23 August 2023. The minimum investment amount required during NFO is Rs 500 and in multiples of Re 1 thereafter.

The performance of the Scheme shall be benchmarked against Nifty 500 TRI.

BofA Securities has cautioned that Indian equities may drag near-term given risks from recent spike in crude, inflation spike led by erratic rains and commodities rally on potential China stimulus.

However, impact of these factors maybe transient and the brokerage prefers a buy on dips strategy.

The brokerage sees risks to Nifty’s earnings growth: BofAe FY24/25: 13/11% vs Street at 17%.

It is wary of sectors with high risk of earnings downgrades, growth mainly driven by margin expansion (risk from commodities’ spike) or the ones that saw recent rally mostly led by valuations expansion vs earnings.

It is cautious on IT, select autos’, metals, cement, telecom, utilities, materials and discretionaries.

Gensol Engineering Ltd has appointed Kanv Garg as its president and chief growth officer of the group. The company informed the exchange about the appointment and added, “With 18 years of experience in the clean energy and mobility sector, Kanv brings a wealth of experience to the Gensol Group.” The stock declines 0.27% on the NSE, trading at ₹1,677.

On ​NCDEX​’s spices complex, dhaniya (coriander) and jeera ruled weak while turmeric contracts were flat in early trade. Dhaniya September contracts dropped by ₹48 to ₹7,484 a quintal. Jeera September futures declined by ₹745 a quintal to ₹62,370 a quintal. Turmeric December futures were up by ₹16 at ₹16,550 a quintal.

The rupee depreciated 6 paise to 82.81 against the US dollar in early trade on Tuesday as a negative trend in domestic equities and firm crude oil prices weighed on investor sentiments.

Forex traders said the rupee is trading lower on strong dollar and foreign fund outflows over the past few days.

At the interbank foreign exchange, the domestic unit opened at 82.80, then touched 82.81, registering a decline of 6 paise over its last close as the RBI monetary policy committee meeting begins on Tuesday. The policy decision will be announced on Thursday.

On MCX, gold October futures were down by ₹28 at ₹59,391 per 10 gm. Silver September contracts slipped ₹13 to ₹71,255 a kg.

In Asian trade, gold was headed lower towards $1,930 an ounce. It was quoted at $1,933.68 an ounce at 10.15 am. Silver, too, dipped towards $23, quoting $23.16 an ounce.

Godrej Cosumer Products

Nomura

• Buy Rating
• Target Rs 1,225
• Q1 FY24 results are on expected lines and better than peers performance is expected to continue
• Higher-than-peers investments and new initiatives will continue to yield positive results
• Devaluation of Naira to impact overall sales growth by 200 bps
• Cuts FY24/25 EPS estimate by -4%/-2% to factor in the Naira impact

Morgan Stanley

• Overweight Rating
• Target Rs 1,072
• Q1 FY24 missed estimates
• Company maintained its targets for FY24
• Improvements in growth, margins and capacity investments are positives
• Devaluation Of Nigerian currency will hurt growth

CLSA

• Underperform Rating
• Target Rs 1,040
• Consolidated revenue grew with organic volume growth in India (at 10%)
• Gross margin expanded materially, EBITDA margin was below the estimates due to increased ad spends
• International business grew by 15% in constant currency terms
• Significant devaluation of Nigerian Naira will have a negative impact in coming quarters

SEBI proposes to review the eligibility criteria for introduction and continuation of stocks in the derivatives segment. Introducing Circuit breaker for F&O stocks is also on the cards

Since the current MF regulatory framework was built around active fund management, SEBI is planning to introduce Mutual Fund Lite regulations for passive funds, wherein investment decisions are not discretionary, but tied to changes in the underlying benchmark index.

Hindalco Industries Ltd is likely to report over a 60 per cent drop in net profit for the June quarter while its revenue is likely to fall around 10 per cent from a year ago.

The company will announce its financial performance on Tuesday.

Hindalco reported a revenue of Rs 58,018 crore last June quarter, when its net profit stood at Rs 4,119 crore.

Hindalco’s earnings from copper sales may get impacted due to shutdown of the smelter from April 5 to mid-June.

Moreover, lower LME aluminum prices have also added to the decline, said analysts.

The analysts have forecast a 38 per cent YoY reduction in Ebitda, primarily driven by a drop in revenues.

The EBITDA margins are expected to decrease year-on-year.

As per Nuvama Research the company’s EBITDA, which also includes Utkal Alumina, is predicted to be 15 per cent lower than that reported in the previous quarter, primarily due to a decreased realisation of aluminum prices.

The cost of producing aluminum is expected to remain unchanged from the previous quarter from the accumulation of costly coal inventory.

There is an estimated 2 per cent decrease in aluminum production volume for the upcoming quarter.

Novelis, the US-based subsidiary of Hindalco, disclosed that its revenue was down 20 per cent year-on-year, amounting to $4.1 billion on back of increase in product pricing, and improved automotive shipments, partially offset by lower beverage can shipments and lower LME.

Novalis adjusted EBITDA in June quarter was down 25 per cent year-on-year at $421 million. The EBITDA per tonne reached $479 on the back of the higher price and gains from foreign exchange.

TCNS Clothing is in focus as its open offer opens today

Tata Chemicals net profit down 12 per cent at ₹523 crore against ₹593 crore while revenue up 6 per cent at ₹4,218 cr against ₹3,995 cr (YoY)

Mindspace Business Parks REIT has announced the appointment of Ramesh Nair as Chief Executive Officer, with effect from September 1, 2023.

Mindspace REIT also announced the elevation of Vinod Rohira from his role as CEO to Board Member of the REIT.

This strategic move ensures stability and continuity of leadership, as Mindspace REIT embarks on its next phase of growth and expansion, it said.

In his new capacity, Vinod will also spearhead a larger role within the group as Managing Director and CEO – Commercial Real Estate, K Raheja Corp, along with a seat on the Board of the Residential Business – K Raheja Corp Homes.

Major gainers on the NSE at 9:30 am on August 8 are:

• Hero Motocorp (3.30%)
• Cipla (2.06%)
• Dr Reddy’s (1.28%)
• NTPC (1.12%)
• Coal India (0.92%)

Major losers

• Adani Ports (-1.39%)
• Eicher Motors (-1.14%)
• Adani Enterprises (-1.12%)
• Divi’s Laboratories (-0.80%)
• Infosys (-0.56%)

Genus Power Infrastructures Limited’s wholly owned subsidiary has received a letter of award (LOA) of ₹2,209.84 crore (net of tax) for appointment of Advanced Metering Infrastructure Service Provider (AMISP), including design of AMI system with supply, installation and commissioning of 21.77 lakh smart prepaid meters, under Revamped Distribution Sector Scheme (RDSS).

Crude oil futures traded higher on Tuesday morning as the tight supplies in the market further deepened with a pipeline leak in Russia. At 9.20 am on Tuesday, October Brent oil futures were at $85.48, up by 0.16 per cent; and September crude oil futures on WTI (West Texas Intermediate) were at $82.11, up by 0.21 per cent.

There has been a sustained selling by FIIs (Rs 10437 crore) during the last eight trading sessions, while there has been a sustained buying by DIIs (Rs 10860 crores) in the same period.

It is important to understand that while FII activity is influenced by external factors like the Dollar Index and US bond yields, DII activity is predominantly determined by domestic factors like GDP growth and corporate earnings. In the near-term, the spike in the US 10-year bond yield above 4% has triggered selling by FIIs who might be moving some money to US bonds.

The domestic market construct continues to be resilient. Thursday’s US CPI inflation print will be keenly watched by markets.

• No. of FPIs rises by 473 to 11081
• Assets under custody down 4.4% to Rs 48.7 trillion
• Marginal rise in number of FPIs from Mauritius, assets under custody drop 41%
• FPIs from the US, Singapore, Norway were up
• Equity cash segment declined by 20%
• Equity derivatives segment witnessed a rise of 119% in notional turnover, led by proprietary traders and individual investors
• Currency derivatives were up 60%
• Commodity derivatives were up 50%

Hero MotoCorp informed the exchanges that the company received 25,597 bookings for the HarleyDavidson X440 since opening of bookings on July 4, 2023.

NIIT Learning Systems will be listed at the bourses on Tuesday. The demerger of NIIT’s corporate learning business was completed on May 24, with the business transferred to NIIT Learning Systems. Since then, NIIT was focussing on the Skills & Careers business, while NLSL would operate the Corporate Learning Business. Post the demerger, shareholders of NIIT were allotted one share of NLSL for each held in NIIT Limited as on the Record Date, which was June 8, 2023.

Shares of NIIT on Monday closed at Rs 85.28 on the BSE. Shares of NIIT on ex-date (June 8) was quoting around Rs 101 on the bourses.

ITD Cementation net profit up at Rs 52 crore against Rs 30 crore while revenue at Rs 1833 crore against Rs 1098 crore (YoY)

China’s trade surplus dropped to $80.6 billion from $102.7 billion in the corresponding period of the previous year. The decline was contrary to market expectations of $70.6 billion.

The reason behind this drop was a more significant decrease in exports compared to imports, influenced by persistently weak demand both domestically and internationally.

Notably, exports witnessed a substantial decline of 14.5 per cent year-on-year, marking the third consecutive month of decrease and the most significant contraction since February 2020.

Concurrently, imports also contracted, experiencing a decrease of 12.4 per cent.

RailTel Corp has informed the exchanges that it has received order worth ₹700 cr from Pimpri Chinchwad Smart City

The board of Godrej Consumer has approved a capex of Rs 900 crore for setting up new manufacturing sites.

BEML Limited has informed the exchanges that it has received a Letter of Acceptance from Bangalore Metro Rail Corporation (BMRC) for the supply of rolling stock contract (5RS-DM) worth about Rs 3,177 crore.

According to reports, the promoter entity of Inox Wind Energy will offload stakes worth Rs 500 crore in the company via a block deal on Tuesday. The offer price will be set at a maximum discount of 5 per cent from the current market price.

The weightage of HDFC Bank is projected to increase in FTSE Emerging All Cap Index from 0.81 per cent to 1.52 per cent. According to the exchange, this will happen there tranches - September, December 2023 and March 2024. Semi-Annual review changes will be announced on August 18 and adjustments will take place on September 15.

One 97 Communications, Paytm parent, said that Price Waterhouse has resigned as the auditor of Paytm Payments Services (PPSL) with effect from August 7. The company has appointed SR Batliboi & Associates as the statutory auditors of PPSL with immediate effect.

Qatar Investment Authority acquired a 2.7 per cent stake in Adani Green Energy for Rs 3,956 crore. According to BSE bulk deals data, Infinite Trade and Investment, a promoter entity of Adani Green, sold 4.5 crore shares or 2.8 per cent of its equity at ₹920.43 per share, for a total amount of ₹4,142 crore.

Qatar Investment Authority picked up a 25 per cent in Adani Electricity Mumbai in 2020 and this is the second investment by the fund in the group.

63 moons technologies, Aarti Industries, Adani Ports, ADC India Communications, Artemis Medicare, Birla Corporation, Brigade Enterprises, Coal India, Data Patterns, Dhampur Sugars, Dish TV, EIH Hotel, Essar Shipping, GE T&D, Gujarat State Fertilisers & Chemicals, Gujarat Alkalies, Happiest Minds Technologies, Hikal, Hindalco Industries, Ircon International, IdeaForge, Infibeam, Oil India, ITDC, Jet Airways, Jindal Hotels Jain Irrigation, Kanoria Chemicals, Linde India, Mangalam cement, Madhani, MT Educare, Nirlon, Phoenix, PNC, Prestiege, Radiant CMS, Religare, Siemens, SMS Pharma, Star Cement, Subros, Subex, Sudarshan Chemicals, Suven Pharma, Talbros, Tasty Bites and Utkarsh Small Finance Bank will announce their quarterly financial results today.

• Vascon Engineers: Ajay Shiv Narayan Upadhyaya bought 14.2 lakh shares (0.6%) at Rs 50.72 apiece.

• GATI: Equity Intelligence India Private Limited bought 8.3 lakh shares (0.6%) at Rs 151.54 apiece.

• Yatharth Hospital & Trauma Care Services: Plutus Wealth Management bought 10 lakh shares (1.2%) at Rs 331.19 apiece.

• Balu Forge Industries: Tano Investment Opportunities Fund sold five lakh shares (0.5%) at Rs 178 apiece.

• BALRAMPUR
• GNFC
• HINDCOPPER
• INDIACEM
• IBULHSGFIN
• PEL

Coal India, HDFC Bank, Paytm, Adani Green Energy, Inox Wind, BEML, Railtel, Happiest Minds, Utkarsh SFB, Hindalco, Ircon, OIL India, Data Patterns, Jet Airways, Madhani, Phoenix, Subros and Siemens are some of the stocks that will be in focus today.

The Rs 1,550.59-crore initial public offering of Concord Biotech that opened for public subscription on Friday was subscribed 2.72 times at the end of Day 2.

Today is the last date to subscribe to the IPO of Jhunjhunwala-backed company. The price band has been set at Rs 705 – Rs 741. Investors can bid for a minimum of 20 equity shares and in multiples of 20 equity shares thereafter.

Graphite India share price has been in a strong uptrend since April this year. After a brief consolidation above ₹400 all through the month of July, the stock has started to move up again over the last two weeks. Immediate support is at ₹448. Below that ₹420 – the 21-Day Moving Average (MA) is the next strong support. This 21-Day MA has limited the downside very well all-through the consolidation that happened last month.

Graphite India share price can rise to ₹550-560 over the next three-four weeks. Traders can go long now. Accumulate at ₹452. Keep the stop-loss at ₹415. Trail the stop-loss up to ₹469 as soon as the stock moves up to ₹478. Move the stop-loss further up to ₹490 when Graphite India share price touches ₹510. Exit the long positions at ₹545.

Day trading guide for Aug 08, 2023

Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, Infosys, HDFC Bank, TCS, and SBI

Equity benchmarks BSE Sensex and NSE Nifty are likely to open on a flat note on Tuesday. Gift Nifty at 19635 indicates a marginal decline of about 30 points for Nifty, as Nifty futures on Monday closed at 19,668.

Overnight, the US stocks closed on strong note. According to Edward Moya, Senior Market Analyst, at The Americas, OANDA, After a mixed jobs report (slower job growth pace but higher wages) this week is all about an inflation report that will probably show moderate price growth.