Share Market Highlights 14 September 2023: Nifty closes above 20,100; Sensex extends winning streak, gains 52 pts

The NSE benchmark Nifty advanced over 33 points to close at a fresh lifetime high of 20,103 while Sensex ticked higher for the tenth straight session on Thursday, helped by fag-end buying in oil & gas, metal and commodity stocks amid a largely firm trend in global equities.

After swinging between gains and losses throughout the session, the 30-share BSE Sensex climbed 52.01 points or 0.08 per cent to settle at 67,519. During the session, it jumped 304.06 points or 0.45 per cent to hit its all-time intra-day high of 67,771.05.

The Nifty advanced 33.10 points or 0.16 per cent to end at its all-time closing high of 20,103.10. During the day, it gained 97.65 points or 0.48 per cent to reach its lifetime intra-day peak of 20,167.65. Read more.

The rupee pared initial gains to settle 2 paise lower at 83.03 (provisional) against the US dollar on Thursday, weighed down by a surge in crude oil prices and strong American currency overseas.

However, a positive trend in domestic markets cushioned the downside for the local unit, forex traders said.

At the interbank foreign exchange market, the local unit opened at 82.98 against the US dollar and moved in a range of 82.93 and 83.04.

The rupee finally settled at 83.03 (provisional) against the US dollar, down 2 paise from its previous close.

Adani Wind’s 5.2 MW wind turbine enlisted in the MNRE Revised List of Models and Manufacturers (RLMM); highest capacity onshore wind turbine generator (WTG) in India

Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power, has signed a Power Delivery Agreement (PDA) with Xpro India Limited through a special purpose vehicle (SPV) for the development of a 3.125 MW AC Group Captive Solar Plant. Tata Power stock inched up by 0.04% on the NSE, at ₹265.10.

In a BSE filing, Delhivery Ltd announced the launch of ‘LocateOne’ - a location intelligence solution, to expand its software offerings on the OS1 platform. Earlier this year, the company had released ‘DispatchOne’ - a delivery management solution, as the first offering on OS1. OS1 offers a full suite of software solutions for businesses to run their logistics and supply chain operations efficiently.

Crompton Greaves Consumer Electrical Ltd launched Galaxy Profile Strip Light on September 6, 2023. The stock slipped by 0.72% on the NSE, and traded at ₹302.95.

RVNL stock rises by 2.37% on the NSE, trading at ₹170.65, after the company backed multiple orders (Vadodara Division of Western Railway and Chennai Metro Rail Limited (CRML).

NCLT New Delhi has approved the resolution plan of Oliver Engineering Private Limited (Oliver) submitted by Kirloskar Ferrous Industries Limited (KFIL). The company’s stock rises by 5.31% on the BSE, trading at ₹475.40.

A special PMLA court here on Thursday remanded Jet Airways founder Naresh Goyal in 14-day judicial custody in a money laundering case linked to an alleged fraud of ₹538 crore at the Canara Bank.

The court accepted Goyal’s request to send him to the Arthur Road jail in South Mumbai.

Governor of Maharashtra, H.E. Ramesh Bais, to inaugurate the 4th edition of World Trade Expo, scheduled from October 3- 4 at World Trade Center, Cuffe Parade, Mumbai. The event is organised jointly by World Trade Center Mumbai and All India Association of Industries (AIAI)

Major gainers:

• UPL (3.91%)
• Hindalco (3.02%)
• ONGC (2.45%)
• Eicher Motors (1.83%)
• M&M (1.81%)

Major losers:

• Asian Paints (-1.28%)
• ITC (-0.87%)
• HDFC Life (-0.77%)
• LTI Mindtree (-0.71%)
• Britannia (-0.59%)

Stocks advanced on BSE at 3 PM on September 14 were 2,390 against 1,236 stocks that declined. Total stocks traded were 3,775. The number of stocks that recorded a 52-week high was 200, and those that hit a 52-week low was 20.

• Welspun Corp (6.37%)
• NMDC (4.57%)
• Hindalco (3%)
• Jindal Steel & Power (2.91%)

WPI contracted for the fifth straight month in August due to deflation in fuel and power and manufactured products categories whereas WPI food inflation remained in double digits. Sub-categories such as mineral oils, textiles, chemicals and metals remained in contractionary zone on an annual basis. However, some pressure was visible in fuel and power category with a sharp sequential rise in mineral oils and electricity prices.

With the support of high base fading, some uptick in WPI inflation could be seen in the second half. We could expect WPI inflation to enter the positive territory next month onwards. Additionally, rise in global crude oil prices and deficient rainfall domestically pose an upside threat. Nevertheless, for the full fiscal year (FY24), we expect WPI inflation to average in the range of 1-2%.

Life Insurance Corporation of India’s shareholding in Sun Pharma has diluted from 5.023% to 3.012% of the paid-up capital of the said company. LICI stock inches up by 0.48% on the NSE, trading at ₹662.45.

Denodo, a leader in data management, and TPG (NASDAQ: TPG), a global alternative asset management firm, today announced that they have signed a definitive agreement for TPG Growth, the firm’s middle market and growth equity platform, to invest $336 million in Denodo’s Series B preferred equity.

The transaction, which includes both primary capital and a secondary sale of shares by HGGC, is expected to close in early October following customary regulatory approvals. HGGC, which invested in Denodo’s Series A investment round in 2017, will remain a significant investor

Sheela Foam Ltd (Sleepwell) has acquired 35% of the share capital of Kieraya Private Limited (Furlenco) on a fully diluted basis for an aggregate consideration of INR 3,000 million.

SFL stock inches up by 0.81% on the NSE, trading at ₹1,122.95.

Zaggle Prepaid Ocean Services IPO has been subscribed 0.12 times as of 2:21 pm on the opening day September 14, 2023. The NII portion has been subscribed 0.05 times, and retail 0.58 times. The issue closes on Sep. 18.

Samhi Hotel IPO has been subscribed 0.05 times as of 2:18 pm on the opening day September 14, 2023. The NII portion has been subscribed 0.01 times, and retail 0.24 times. The issue closes on Sep. 18.

RR Kabel IPO has been subscribed 0.55 times as of 2:21 am on September 14, 2023. The NII portion has been subscribed 0.91 times, retail 0.69 times; and those reserved for employees stood at 1.00 times. The issue closes tomorrow (September 15).

Indus Towers has 20.6 lakh shares change hands in a large trade. The stock declines by 0.16% on the NSE, trading at ₹183.30.

Suzuki, Fanuc India head for business, visited Marshall Machines Factories to discuss support for the new technologies which Marshall is developing. Fanuc is the leading supplier of CNC Controls based out of Japan.

Marshall Machines stock rises by 3.20% on the NSE, trading at ₹61.25.

ICRA expects banking sector to stay resilient; outlook remains positive. The rating agency expects retail segment to remain as key contributor to overall credit growth, which is estimated to be robust at 12.1-13.2 percent this fiscal

Kesar Petroproducts Ltd has sold 67,00,000 equity shares held in the associate company namely, Shreyas Intermediates Limited, in the open market. The stock rises by 3.45% on the BSE, trading at ₹6.30.

Producers’ inflation, technically known as wholesale inflation based on Wholesale Price Index (WPI) remained in negative zone for fifth consecutive month at negative 0.52 per cent, government data released on Thursday showed. However, there is an increase on sequential basis i.e., from July to August.

Read more.

Wipro Limited’s shares were up by 0.80 per cent after the company unveiled its Cyber Defence Centre (CDC) in Dusseldorf, Germany. This marks the 17th centre of its kind globally, designed to offer specialised cybersecurity services to German and European clients. In response to the escalating threat of cyber-attacks and the growing emphasis on data protection, the centre will provide round-the-clock cybersecurity monitoring, incident response, and remediation support.

Read more.

The Small Industries Development Bank of India (SIDBI) is planning to both lend to and invest in smaller, lower rated/ unrated non-banking finance companies (NBFCs), so that they grow to a scale to support micro and small enterprises (MSEs) across the country.

Read more.

Palm oil imports in August rose about 3.9 per cent to 1.13 million tonne month-on-month, while soyoil shipments jumped about 4.6 per cent to 357,890 tonne and those of sunflower oil were up 12 per cent at 365,870 tonne, said trade body.

WiseX, India’s leading Neo-realty investment platform in collaboration with Integrow Asset Management has launched India’s first sector specific Real Estate Portfolio Management Services (PMS). The portfolio will be managed by Integrow Asset Management and powered by WiseX’s proprietary technology. The fund aims to enable investors in generating alpha and risk adjusted returns by investing in the real estate sector in a focused Multi-cap portfolio.

The CREAM Portfolio will be focussed on the Real Estate sector as the sector is poised for growth and offers attractive investment opportunities. The Indian real estate market presents a significant growth potential, with expectations to reach USD 1 Tn by 2030, and contribute nearly 13% to India’s GDP by 2025 as per IBEF Real Estate Industry report. Substantiating this, the Nifty Realty Index has outperformed the benchmark Nifty 50 Index in its past 3 months, 6 months, 1 year, 3 years and 5 years’ time periods.

Ninjacart, India’s leading agri-startup that leverages technology and data to organize the agriculture ecosystem, is delighted to announce a transformative partnership with Arado, formerly known as Clicampo, a prominent agribusiness marketplace based in Brazil.

This landmark deal will introduce Ninjacart’s cutting-edge tech platform, supply chain management solutions, and advisory services to the Brazilian market.

Zee Entertainment Enterprises has been served with an appeal on behalf of Axis Finance Limited against the company before the NCLAT, Delhi, challenging the order dated August 10, 2023 passed by NCLT, Mumbai Bench. The stock declines by 0.40% on the NSE, trading at ₹274.80.

The Desktop Computing segment maintained steady growth, achieving a 7 percent increase in volume and a 9 percent increase in value, reflecting its consistent market positioning in H1 2023 vs 2022. While Mobile PCs have experienced a 14 percent decline in value, Gaming laptops have shown a remarkable 6 percent growth in sales value. : Gfk data

The telecom (Smartphone and mobile Phones) segment cumulatively experienced a marginal 4 percent reduction in volume, it was offset by a substantial 12 percent increase in overall value. The Smartphone segment alone clocked a 3 percent increase in volume, resulting in a 14 percent growth in value : GfK Market Intelligence Data

• Lump Ore (65.5%, 6-40mm) @ ₹4,950 per ton.
• Fines (64%,-10mm) @ ₹4,210 per ton.

NMDC stock surges by 4.64% on the NSE, trading at ₹148.80.

GfK Data : The Major Domestic Appliances (MDA) category clocked a growth of 7 per cent in volume and 9 per cent rise in value in the first half of 2023 compared to first half of 2022, on the back of low penetration levels. According to the latest data released by GfK, Washing Machines segment clocked 6 percent volume growth and a 10 percent value growth. Microwave Ovens maintained steady performance with a 4 percent volume growth and a modest 3 percent increase in value. Meanwhile, air-conditioners, clocked 7 per cent volume and 9 per cent value growth in H1 2023 versus H1 2022.

Shipping Corporation of India Limited has informed the Exchange about Update on Scheme of Arrangement - Approval received from the Governement of West Bengal to remit 100% of Stamp Duty for the transfer of Non-Core Assets of Shipping Corporation of India Limited at Kolkata to Shipping Corporation of India Land and Assets Limited (SCILAL)

Lupin Ltd has allotted 12,050 fully paid-up equity shares of ₹2 each upon exercising of options granted to the employees under Stock option plans of the Company. The stock trades at ₹1,145, down by 0.04% on the NSE.

Insecticides (India) Limited has informed the receipt of patent for novel amide compound, method for producing the same and miticide. The stock gains by 1.94% on the NSE, trading at ₹484.85.

Aurionpro Transit Pte. Ltd., an Aurionpro subsidiary in transit business, has bagged an order supply of validators and hardware for the rapid transit bus project in the city of Merida, Mexico. The project, which has been awarded by the Government of the State of Yucatán, Mexico, will be delivered through MRP Technology Solutions.

The stock of Aurionpro Solutions rises by 2.62% on the NSE, trading at ₹1,230.

BAE Systems Inc. and Larsen & Toubro Limited (L&T) have partnered to bring Articulated All-Terrain Vehicle (AATV), the BvS10, to the Indian market. They have signed an agreement to offer the BvS10 for an Indian Armed Forces programme.

LT stock inches up by 0.38% on the NSE, trading at ₹2,917.85.

Ami Organics has incorporated a wholly owned subsidiary - Baba Advance Materials Ltd - on September 13, 2023. The stock inches up by 0.76% on the NSE, trading at ₹1,293.15.

In this report, we are highlighting 3 key reasons to be cautious on cement sector.

1) deficient rains this year and upcoming general elections is likely to result in demand slowdown,

2) operating costs have started inching up from its lows and

3) supply intensity is picking up pace. While we believe that lower inventory costs of fuel and resilient pricing is likely to keep earnings in good stead in 2QFY24, we believe that consensus EBITDA estimates for FY25 face risk of downward revision and current valuations are factoring in growth adequately. We have not changed our estimates for FY24/FY25 at the moment, however, given the recent uptick in stocks, we have downgraded our rating on four stocks.

We advise exposure to the sector through sector leader like UTCEM and also through BCORP and NVCL which are a combination of deleveraging, growth and rerating stories.

AFC Commercial Bank has signed a deal with Intellect Global Consumer Banking (iGCB), the consumer banking arm of Intellect Design Arena Limited, for an end-to-end banking transformation. The stock of Intellect Design Arena rises by 3.46% on the NSE, trading at ₹694.65.

Bajaj Healthcare stock is up by 1.95% on the NSE, trading at ₹420.45. The company had received USFDA’s Establishment Inspection Report (EIR) for the pre-approval inspection that was carried out at manufacturing facility in Savli, Vadodara, Gujarat with zero ‘483 observations’.

Shares of Venus Remedies rise by 1.23% on the NSE, trading at ₹242. The company recently registered with the Department of Scientific and Industrial Research (DSIR) to avail customs duty exemptions.

Major gainers:

• Hindalco (4.24%)
• UPL (3.38%)
• Tata Steel (2.20%)
• ONGC (2.01%)
• Tech Mahindra (1.61%)

Major losers:

• Asian Paints (-1.27%)
• ITC (-0.67%)
• Adani Ports (-0.53%)
• HDFC Life (-0.48%)
• Britannia (-0.42%)

India’s brick and mortar retail universe is bouncing back with strong leasing activity of 3.16 million square feet recorded in the first six months of the current calendar year till June, according to a study released by JLL on day one of the MAPIC India conference, Wednesday.

Leasing activity in the retail sector was believed to have slowed down during and post pandemic as digital consumption was on the rise.

Shopping mall stock as of first half of calendar year 2023 was 89 million square feet with expected supply pipeline of over 38.04 mn sq ft of retail developments between H2 2023 and 2027 taking the tally to 127 mn sq. ft by the end of 2027, said Dr. Samantak Das, Chief Economist and Executive Director – Research & REIS, India, JLL.

Stocks advanced on BSE at 12 noon on September 14 were 2,464 against 1,025 stocks that declined. Total stocks traded were 3,644. The number of stocks that recorded a 52-week high was 177, and those that hit a 52-week low was 14.

Credit Wise Capital (CWC), a tech-driven non-banking financial company (NBFC) renowned for its expertise in two-wheeler financing, has announced a strategic co-lending partnership with HDFC Bank, India’s leading private sector bank to offer two-wheeler loans in tier 2, 3, and 4 towns of the country.

The partnership combines the strengths of HDFC Bank’s expertise to offer credit facility to the unserved or underserved sectors of the economy and Credit Wise Capital’s strong and easy loan processing tech platform for assessing potential borrowers as well as their credit profile. The partnership aims to provide seamless financing solutions, conveniently and economically in a digital manner through Twin2, a proprietary product of Credit Wise Capital.

The world economy is likely to grow a bit faster in 2023 than Fitch Ratings expected in its June Global Economic Outlook (GEO), but the deepening slump in China’s property market is casting a shadow over global growth prospects, just as monetary tightening increasingly weighs on the demand outlook in the US and Europe, says Fitch in its September 2023 GEO, released today.

Fitch has revised up its forecast for world growth in 2023 by 0.1pp to 2.5%, reflecting surprising resilience so far this year in the US, Japan and emerging markets (EM) excluding China. We have raised US growth by 0.8pp to 2.0%, Japan by 0.7pp to 2.0% and EM ex. China by 0.5pp to 3.4%. This has more than offset a 0.8pp cut to China – to 4.8% – and a 0.2pp cut to the eurozone, to 0.6%. The differential between growth in EM ex. China and developed economies is expected to rise towards historical norms this year partly reflecting the earlier timing of the monetary policy tightening cycle in emerging markets.

Persistent Systems informed the exchange that it has achieved Premier Tier Services Partner status within the Amazon Web Services (AWS) Partner Network (APN). Persistent Systems stock rises by 2.47% on the NSE, trading at ₹5,922.10.

Mahindra Holidays & Resorts India Ltd has signed an MoU with the Government of Uttarakhand to establish and develop Club Mahindra Resorts in the State of Uttarakhand. The company’s stock is up by 2.72% on the NSE, trading at ₹400.80.

Read more.

• Bombay Dyeing & Mfg Company (15.12%)
• Andrew Yule & Company (15.12%)
• Magadh Sugar & Energy (13.92%)
• Silver Touch Technologies (13.45%)
• Kalyani Steels (11.80%)

• Bank of India (3.04%)
• Central Bank of India (2.23%)
• Union Bank (1.66%)
• Bank of Baroda (1.53%)

Tata Steel stock rises by 2.24% on the NSE, trading at ₹132.45. UK govt close to finalising 500-million pound deal to secure Port Talbot plant’s future.

Grasim Industries, a flagship company of the Aditya Birla Group, today unveiled the brand name of its paints business, ‘Birla Opus’. The market launch of Birla Opus is scheduled for Q4FY24. Grasim will offer a full suite of high-quality products in the decorative paints segment

Bajaj Healthcare Limited’s shares were up by 3.30 per cent after the company received the receipt of the Establishment Inspection Report (EIR) from the United States Food and Drug Administration (USFDA) regarding the Pre-Approval Inspection (PAI) conducted in November 2022. The inspection took place at BHL’s manufacturing facility located in Savli, Vadodara, Gujarat.

Notably, BHL has received the EIR with an outstanding outcome – Zero 483 observations, signifying no inspectional observations.

Aster DM Healthcare has 49 lakh shares change hands in two large trades. The stock rises by 2.59% on the NSE, trading at ₹340.70.

RR Kabel IPO has been subscribed 0.41 times as of 11:18 am on September 14, 2023. The NII portion has been subscribed 0.60 times, retail 0.55 times; and those reserved for employees stood at 0.82 times. The issue closes tomorrow (September 15).

Grasim Industries Limited, a flagship company of the Aditya Birla Group, HAS unveiled the brand name of its paints business - Birla Opus. The market launch is scheduled for Q4 FY24. The company will offer a full suite of high-quality products in the decorative paints segment, it said in a regulatory filing.

The stock inches up by 0.01% on the NSE, trading at ₹1,933.10.

• Magadh Sugar & Energy (15.80%)
• Dhalmia Bharat Sugar (11.92%)
• Avadh Sugar & Energy (8.17%)
• Bajaj Hindustan Sugar (5.62%)
• EID Parry India (4.06%)

Major gainers:

• Bombay Dyeing (15.98%)
• NBCC (9.91%)
• DWC (9.79%)
• Kiri Industries (8.45%)
• Dhampur Sugar Mills (8.44%)

Major losers:

• Infibeam Avenues (-3.45%)
• Supreme Industries (-2.28%)
• PEL (-2.10%)
• Orient Cement (-2.05%)
• JP Associates (-1.87%)

Bank Nifty September futures (45,968)

The Bank Nifty index opened the day on a positive and made a high of 46,151. However, the index has come down sharply from there, giving up all its gains and is trading lower now; it . The Bank Nifty index is currently at 45,829, down 0.17 per cent.

The advances/ declines ratio is at 3:9 . It indicates broader weakness within the index as of now. AU Small Finance Bank, up 1.53 per cent, is outperforming the other stocks within the index.

Crompton Greaves Consumer Electricals Ltd. (CGCEL) launches a new series of Mixer Grinders - DuroElite Plus, DuroRoyal, Boltmix Pro, and Boltmix Cool. The stock trades at ₹302.40, down by 0.90% on the NSE.

ACC Limited’s shares were up by 0.47 per cent after the company announced the commencement of commercial clinker production at its Ametha Integrated Cement Plant, situated in the Katni district of Madhya Pradesh.

The Ametha Integrated Cement Plant boasts a clinker capacity of 3.3 million metric tonnes per annum (MTPA) along with a cement capacity of 1 MTPA. This greenfield project is poised to facilitate the most cost-effective production of clinker and cement, augmenting ACC’s overall portfolio to 37 MTPA and bolstering the Company’s profitability and market share.

Equity benchmark indices Sensex and Nifty hit their record peaks in early trade on Thursday in continuation of their ongoing rally, amid a largely firm trend in Asian markets, along with buying in IT and banking stocks.

Rallying for the 10th day running, the 30-share BSE Sensex climbed 304.06 points to 67,771.05 -- its all-time peak -- in early trade. The Nifty advanced 97.65 points to reach its lifetime high of 20,167.65.

Among the Sensex firms, Tata Steel, Tech Mahindra, Wipro, State Bank of India, Power Grid and JSW Steel were the major gainers.

Bajaj Finance emerged as the only laggard.

Logistics services provider Delhivery Ltd has announced the launch of ‘LocateOne’ - a location intelligence solution, to expand its software offerings on the OS1 platform. Earlier this year, the company had released ‘DispatchOne’ - a delivery management solution, as the first offering on OS1.

The stock rises by 1.82% on the NSE, trading at ₹438.

IndusInd Bank today announced the launch of the ‘Virtual Commercial Card’ tailored to cater to the distinct requirements of corporates and travel industry, who make numerous bookings in multiple foreign currencies. “In a tie-up with Visa, this dynamically generated virtual card has additional layers of security that can be defined for each transaction, which grants the users complete control over their international expenses, making it a safe and hassle-free experience for the customers,” the bank said in its regulatory filing.

Its stock trade at ₹1,454.90, down by 0.01% on the NSE.

BCL Industires has appointed Go India Advisors LLP as its new Investor Relationship Agency. BCL stock rises by 1.11% on the NSE, trading at ₹496.20

Sun Pharmaceutical Industries announced that one of its wholly-owned subsidiaries has entered into a license agreement with Pharmazz Inc., (Pharmazz), a U.S. based biopharmaceutical company to commercialise a first-in-class innovative drug, Tyvalzi (Sovateltide) in India. Developed by Pharmazz for potential global use, Sovateltide is indicated for treating cerebral ischemic stroke.

However, Sun Pharma stock slips down by 0.24% on the NSE, trading at ₹1,146.

Read more.

The rupee appreciated 8 paise to 82.93 against the US dollar in early trade on Thursday tracking positive domestic equities.

Forex traders said the domestic unit was trading in ranges against the dollar as the support from positive domestic equities has been negated by elevated crude oil prices and a firm US dollar.

At the interbank foreign exchange, the rupee opened at 82.98 against the dollar, and touched 82.93, registering a rise of 8 paise over its previous close.

On Wednesday, the rupee closed at 83.01 against the US currency.

Nifty 50, after closing clearly above 20,000 on Wednesday, has begun today’s session with a gap up. Currently trading at 20,150, it is up 0.4 per cent after the first hour of today’s trade. Likewise, Sensex opened with a gap-up and is now trading at around 67,690, up 0.3 per cent.

The market sentiment is bullish as the major Asian indices are in the green. Nikkei 225 (33,200), ASX 200 (7,200) and KOSPI (2,560) are up between 0.6 and 1.5 per cent.

KPI Green Energy stock rises by 1.22% on the NSE, trading at ₹827.70. The company had commissioned 7.80MW wind-solar hybrid power project for its client Mono Steel India Limited, Surat, under ‘Captive Power Producer, under the Gujarat Wind-Solar Hybrid Power Policy 2018.

Wipro stock rises by 1.01% on the NSE, trading at ₹440.10. The company had announced the launch of its Cyber Defense Center (CDC) in Dusseldorf, Germany.

NBCC stock jumps 10.66% on the NSE, trading at ₹62.30, after receiving order worth ₹180 crore from SAIL (Bokaro Steel plant).

IRCTC stock rises by 1.51% on the NSE, trading at ₹697.35. It had entered into an Memorandum of Understanding with Maharashtra State Road Transport Corporation (MSTRC) to enable MSRTC’s online bus booking services via IRCTC’s bus booking portal/website.

Coffee Day Enterprises stock is up by 2.64% on the NSE, trading at ₹52.50. The stock had earlier hit 20% upper circuit after NCLAT terminated Corporate Insolvency Resolution Process (CIRP) proceedings against the company and set aside NCLT Order.

As markets touch new highs, many retail investors, especially those seeking to enter the market, may be a tad concerned at the elevated index levels and valuations.

Despite the negative aspect of adverse taxation on conservative hybrid funds, this category of schemes may be a useful addition to the portfolio of low-risk investors looking to save for goals that are 3-5 years away. The idea is to beat inflation, and reasonably protect and grow existing capital. The category can also serve as a portfolio diversifier, too, The category can be a useful investment option.

Conservative hybrid funds must invest 10-25 per cent of their portfolio in equity and equity-related instruments, while 75-90 per cent must be parked in debt securities, according to market regulator SEBI’s mandate.

Suven Pharma shares gain 4.56 pc in early trade on BSE on Thursday and are trading at Rs 541. The Cabinet Committee on Economic Affairs approved the FDI proposal for foreign investment of up to Rs 9589 crore in Suven Pharmaceuticals Limited Berhyanda Limited, Cyprus.

The approval is for acquisition of up to 76.1 pc equity shares of Suven Pharmaceuticals by Berhyanda by way of transfer of shares of from existing promoter shareholders and public shareholders through mandatory Open Offer.

Adani Global Pte. Ltd., Singapore, a step down wholly owned subsidiary of Adani Enterprises has incorporated a joint venture company namely Kowa Green Fuel Pte. Ltd. with Kowa Holdings Asia Pte. Ltd., Singapore for the sales and marketing of green ammonia, green hydrogen and its derivatives in the territories of Japan, Taiwan and Hawaii.

Adani Enterprises stock inches up by 0.92% on the NSE, trading at ₹2,541.95.

LIC MF Nifty 50 Exchange Traded Fund (ETF) stunned investors with a 18%+ drop to 52-week low of Rs 176.85 on BSE in early trades today on the back of heavy volumes. Sell orders for over 34,000 ETF units have been punched on BSE so far. It had closed at Rs 217.31 yesterday.

Major gainers:

• Hindalco (2.01%)
• Tata Steel (1.54%)
• Tech Mahindra (1.54%)
• UPL (1.32%)
• Wipro (1.16%)

Major losers:

• Bharti Airtel (-0.09%)
• Ultratech Cement (-0.07%)
• Adani Ports (-0.05%)
• Axis Bank (-0.02%)

Shares of Bombay Dyeing skyrocketed 15% to hit 52-week high of Rs 166 after its board yesterday approved the proposal to sell the land parcel of about 22 acres (along with the associated FSI) in Worli, Mumbai to Goisu Realty Private Limited (a subsidiary of Sumitomo Realty & Development Company Limited) in 2 phases, for a total consideration of about Rs. 5,200 crores, subject to approval of its shareholders.

This move aligns with BDMC’s focus on realty business, debt reduction, and future growth, expecting a pre-tax profit of approximately Rs. 4,300 crores. The company’s current m-cap is Rs 3319 crore.

Read more.

Cummins India Limited and its authorised genset original equipment manufacturer (GOEM) Sudhir Power Limited (Ltd.) unveiled the CPCBIV+ compliant genset range for the Delhi NCR markets.

“They are equipped with advanced after-treatment systems, integrated control modules for the engine, and next-gen monitoring devices resulting in better fuel efficiency, improved load-taking capability, and reduced emissions,” the company said in its regulatory filing.

Crude oil futures traded higher on Thursday morning as the recent forecasts by OPEC (Organization of the Petroleum Exporting Countries) and IEA (International Energy Agency) have indicated supply tightness in the coming months.

At 9.14 am on Thursday, November Brent oil futures were at $92.26, up by 0.41 per cent; and October crude oil futures on WTI (West Texas Intermediate) were at $88.89, up by 0.42per cent.

September crude oil futures were trading at ₹7368 on Multi Commodity Exchange (MCX) in the initial trading hour of Thursday morning against the previous close of ₹7338, up by 0.41 per cent; and October futures were trading at ₹7323 as against the previous close of ₹7291, up by 0.44 per cent.

The Cabinet Committee on Economic Affairs (CCEA) chaired by the Prime Minister Narendra Modi approved the FDI proposal for foreign investment of up to Rs 9589 crore in Suven Pharmaceuticals Limited Berhyanda Limited, Cyprus.

The approval is for acquisition of up to 76.1 pc equity shares of Suven Pharmaceuticals by Berhyanda by way of transfer of shares of from existing promoter shareholders and public shareholders through mandatory Open Offer.

The IPO of Samhi Hotels opens to public today. The size of the IPO is ₹1,370.10 crore, which consists of a fresh issue of equity shares worth ₹1,200 crore and an OFS of 1.35 crore shares by existing shareholders. The IPO comes out with a price band of ₹119-126 and closes on September 18.. The lot size for Samhi Hotels IPO is 119 shares.

Blue Chandra Pte Ltd will sell up to 84.28 lakh equity shares, Goldman Sachs Investments Holdings (Asia) Ltd 49.31 lakh equity shares and GTI Capital Alpha Pvt Ltd will divest up to 1.4 lakh equity shares in Samhi Hotels in the OFS.

Read more.

ACC Limited has commenced commercial production of Clinker at its new cutting-edge Ametha Cement Plant in Katni district, Madhya Pradesh.

The Indian equity benchmarks, namely Sensex and Nifty, opened on a positive note on Thursday, taking cues from the strong performance of Asia-Pacific markets.

In the early trading session, the 30-share BSE Sensex advanced by 137.83 points to trade at 67,604.82, while the NSE Nifty saw a gain of 61.65 points at 20,131.65.

Among the Sensex components that contributed to the gains were Tata Steel, Hindalco, Adani Enterprises, Divis Lab and Wipro. On the other hand, Hindustan Unilever and ITC were among the laggards.

Analysts anticipate that large-cap stocks will perform well, although mid and small-cap stocks may face pressure due to valuation concerns.

“Index has a support around 19950-19900 zone. Coming to the open interest data, on the call side, the highest OI observed at 20100 followed by 20200 strike prices while on the put side, the highest OI is at 20000 strike price. On the other hand, Bank nifty has support at 45300-45500 while resistance is placed at 46200-46300 levels,” said Deven Mehata, Equity Research Analyst, Choice Broking

Health Care Services - Spotlight on per bed profitability outlook by Kotak Institutional Equities

Spotlight on per bed profitability outlook

In light of expansion plans over the next five years for most hospitals being known, compared to EBITDA growth, analyzing growth in EBITDA/occupied bed provides better clarity on trajectory of core profitability after factoring in the impact of bed expansion. Within our coverage, we expect Rainbow to report the lowest EBITDA/occupied bed CAGR at ~3%, while most others are expected to report 8-10% EBITDA/occupied bed CAGR over FY2023-28E. Roll forward to September 2025E and downgrade KIMS and Aster DM to REDUCE (from BUY) and ADD (from BUY), respectively, given the run-up.

UBS on IndiGo

Buy

Target Rs 3,300

Macquarie on Axis Bank

Neutral Rating

Target Rs 980

Jefferies on CONCOR

Buy Rating

Target Raised To Rs 825 From 775

Jefferies on Macrotech Dev

Buy Rating

Target Rs 860

Investec on IDFC First BK

Initiate Hold, Target Rs 103

The IPO of Samhi Hotels opens to public today. The size of the IPO is ₹1,370.10 crore, which consists of a fresh issue of equity shares worth ₹1,200 crore and an OFS of 1.35 crore shares by existing shareholders. The IPO comes out with a price band of ₹119-126 and closes on September 18. The lot size for Samhi Hotels IPO is 119 shares.

Blue Chandra Pte Ltd will sell up to 84.28 lakh equity shares, Goldman Sachs Investments Holdings (Asia) Ltd 49.31 lakh equity shares and GTI Capital Alpha Pvt Ltd will divest up to 1.4 lakh equity shares in Samhi Hotels in the OFS.

The Goldman Sachs-backed Samhi Hotels has raised ₹616.50 crore from anchor investors ahead of IPO subscription opening for bidding.

The Rs 1,964-crore initial public offering of RR Kabel that opened on Wednesday was subscribed 0.25 times or 25 per cent on Day1.

The issue, priced in a band of Rs 983-Rs 1,035, will close on September 15. The lot size is 14 equity shares. Up to 50 per cent of the shares have been reserved for Qualified Institutional Buyers (QIB), 15 per cent for Non-Institutional Investors (NII), and up to 35 per cent for Retail Investors.

Listing of Bonus Equity Shares of Indo Us Bio-Tech Ltd.

10026000 Bonus Equity shares of Rs. 10/- each allotted on September 01 ,2023.

Listing of new Securities of W.S. Industries (India) Ltd

2,80,000 equity shares of Rs. 10/- each issued at a premium of Rs.30/- to Non Promoters on a preferential basis pursuant to conversion of warrants .

Listing of New Bonus equity shares of G N A Axles Limited

21465400 Bonus equity shares of Rs. 10/- each allotted on September 5, 2023.

Listing of New Securities of Nidhi Granites Limited

13,47,805 equity shares of Rs. 10/- each issued at a premium of Rs.19/- to Promoter and Non Promoter on a preferential basis pursuant to conversion of warrants.

Zaggle Prepaid Ocean Services Limited issue opens today for public subscription. The company plans to raise Rs 564 through the IPO, which will close on September 18.

The company has fixed a price band of 156-164 and investors can bid for 90 equity shares.

The IPO includes a fresh issue of Rs 392 crore, and an offer for sale (OFS) by promoters and a few investors worth Rs 174 crore. Ahead of IPO, it raised rs ₹253.52 crore from anchor investors

ACC Limited, has announced the commencement of commercial production of Clinker at its new cutting-edge Ametha Cement Plant, nestled in the heart of Katni district of Madhya Pradesh. The Ametha Integrated Cement Plant has a clinker capacity of 3.3 MTPA and a cement capacity of 1 MTPA. This greenfield integrated project will help in lowest cost production of clinker and cement, which will enhance ACC’s overall portfolio to 37 MTPA and aid in the overall improvement in profitability and market share of the company.

Vivanta Industries Limited :Company has entered into In-principle Memorandum of

understanding with Vivanta Drone Research Centre Tanzania Limited (“VDRCTL”) for the following purpose;

. Research & development of Drones;

. Training & development of Drones;

. Setting up the assembly line

Whereby Company will acquire 50% stake in Vivanta Drone Research Centre Tanzania Limited

NBCC (India) Limited : Company has signed a quadripartite MoU with Ministry of Steel (MoS) Govt. of India, Rashtriya Ispat Nigam Limited (RINL) and National Land Monetization Corp. Ltd. (NLMC) for Monetization of the Non-core assets of RINL at Vishakhapatnam. Also has been recently awarded from SAIL ( Bokaro Steel Plant ) for Consultancy & Project Management Services for upcoming Infrastructural related projects of Bokaro Steel Limited Plant, township, Mines & Collieries. worth of ₹ 180 Crores

Spencers Retail Limited : Company as a part of the its process of evaluating the performance of all its stores on a regular basis, has decided to close down its ten loss making stores in the state of Tamil Nadu by September 30, 2023. These stores contributed 1.2% of the consolidated revenue of the Company in the financial year 2022-23.

Pidilite Industries Limited : Company received the post from the Commissioner, Vasai Virar City Municipal Corporation (“Commissioner”) under the provisions of The Maharashtra Municipal Corporation Act, 1949 and Maharashtra Municipal Corporation (Local Body Tax) Rules 2010.

The Order has been passed by the Commissioner in an Appeal filed by the Company against earlier Order passed on 02-01-2023 (Original Order), with regards to the bonafide legal dispute on the levy of Local Body Tax for the Financial Years 2015-16, 2016-17 and 2017-18 (upto June,2017) inter alia confirming penalty of Rs.6,81,00,672/-as charged in the Original Order

KPI Green Energy Limited :The company has commissioned the 7.80 MW wind-solar hybrid power project, comprising 4.20 MW of wind and 3.60 MWdc solar capacity, through its wholly owned subsidiary KPIG Energia for Mono Steel India

Adani Enterprises: Adani Wind’s 5.2 MW wind turbine generator, which is India’s largest turbine, has received type certification from WindGuard GmbH. The certification enables Adani Wind to start series production for global markets

Bank of India: The state-run lender has come out with an issue of Basel III-compliant Tier II bonds amounting to Rs 2,000 crore. The base size is Rs 1,000 crore, and the green shoe option is Rs 1,000 crore. It received a total bid of Rs 3,770 crore in response from investors, and the issue was oversubscribed by 3.77 times against the base issue size.

IRCTC: The company signed an MoU with Maharashtra State Road Transport Corp. to enable MSRTC’s online bus booking services via its bus booking portal.

Aditya Birla Fashion and Retail: Premium fashion brand Louis Philippe announced its foray in the Middle East with the opening of the brand’s newest outlet in the UAE. The company plans to increase its retail footprint by launching several additional outlets for its brands throughout the Middle East in the near future

Suven Pharmaceuticals: The government has approved up to Rs 9,589 crore in foreign investment in the drugmaker. The approval is for the acquisition of up to 76.1% of the company by Cyprus-based Berhyanda. The aggregate foreign investment in the company will increase by 90.1%

Lloyds Steels Industries: The company signed a deal with Bhabha Atomic Research Centre for the transfer of technology for Multi Effect Distillation with Thermo Vapour Compression (MEDTVC) desalination. The licence will aid the company in executing orders related to desalination and will be valid for five years

Bajaj Healthcare: The company has received the Establishment Inspection Report from the USFDA for pre-approval inspection at its Vadodara plant with zero 483 observations

Aries Agro Limited : Board considered and approved further Investment in 60,00,000 Equity Shares of Rs. 10/- each at par of the Wholly Owned Subsidiary viz Mirabelle Agro Manufacturing Private To procure Raw Materials(Backward Integration) & related Plant Nutrients Manufactured at the New Manufacturing Unit being set up.

United Spirits Limited : company has received VAT & CST assessment orders for FY 2020-21 wherein tax authority has denied the input tax credit taken by the Company on ENA purchased on the ground that ENA is subject to GST and raised VAT demand of Rs. 98,48,321 (including penalty of Rs. 12,000) and CST demand of Rs.5,99,36,965 (including penalty of Rs. 2,000)

Indiabulls Housing Finance Limited : The Board had authorised delisting of GDRs from Luxembourg Stock Exchange (“LuxSE”), the Company has now been informed by LuxSE that the GDRs of the Company stand de-listed from LuxSE, with effect from September 13, 2023

Cummins India Limited : Company and Sudhir Power Ltd. are set to revolutionize the power backup sector in Delhi NCR with advanced CPCBIV+ compliant genset range.Customers in Delhi NCR can now access the complete range of Cummins powered CPCBIV+ compliant gensets.Customers can avail of support for Cummins products throughout their lifecycle across the country

Concord Control Systems Ltd : Company has approved the issuance of 2,70,000 Equity Shares at Rs.450/- per Equity Share of face value of Rs.10/- each at a Premium of Rs.440/- to the allottees on a preferential issue basis (Param Capital – Mukul Mahavir Agrawal)

TRENT LTD : Company introduces ‘WESNESS’ across 25 stores .WESNESS is an initiative brought about to transform lifestyle and well-being

NIIT Learning Systems Ltd : NIIT MTS Announces the First Implementation of Xsel Learning Platform with CENTURY 21® Heritage Group

GI ENGINEERING SOLUTIONS LTD : Company has roped in the talented and acclaimed Indian writer, director, and film producer, Ms. Shruti Anindita Varma, for their upcoming project titled “Vrindavan”. The film promises to be a poignant journey of love, loss, and self-discovery that will undoubtedly captivate audiences

Integra Essentia Limited : Company has won these orders from renowned business leading houses including Himalayan Bio Organic Foods, Sarveshwar Overseas Limited for supplying premium Rice & Cashew Nuts to Ayush International an established Exporter. The Company will complete servicing these current orders within the month of September’2023 whereas with the completion of these orders, the company will hit the targeted Rs. 600 Million of sales during the Q2 and gross sales of Rs. 1170 Million during the current financial year

WIPRO LTD : Company announced the launch of its Cyber Defense Center (CDC) in Dusseldorf, Germany. Wipro’s CDCs are positioned around the globe to provide localised support, as well as fulfil customers’ cybersecurity and compliance requirements

VENUS REMEDIES LTD : COMPANY ATTAINS THE DEPARTMENT OF SCIENTIFIC AND INDUSTRIAL RESEARCH (DSIR) REGISTRATION FOR CUSTOMS DUTY EXEMPTION

Advait Infratech Limited : Company has recently signed a Memorandum of Understanding (MOU) with Goufu Hydrogen Energy Equipment Co., Ltd.(“GouFu”), a Company specialised in manufacturing of hydrogen energy equipment’s and related product based in China.

Bombay Dyeing and Manufacturing Company Limited : Company approved the proposal to sell the land parcel of about 22 acres (along with the associated FSI) in Worli, Mumbai to Goisu Realty Private Limited (a subsidiary of Sumitomo Realty & Development Company Limited) (“Buyer”) in 2 phases, for a total consideration of about Rs. 5,200 Crs, subject to approval of its Shareholders. Upon approval of Shareholders, BDMC will receive about Rs. 4,675 Crs from the Buyer for Phase-I. The balance amount of about Rs. 525 Crs will be received upon completion of certain conditions by BDMC and execution & consummation of the definitive agreements thereto for Phase- II

AA Plus Tradelink Ltd : Company has recently received a significant export order with a total value of Rs. 51,000,000. from CNX Corporation Limited, a reputable commodity trading company. The order includes a variety of ‘A’ grade fresh produce, such as Green Broccoli, Organic Red Cabbage, Indian Organic Black Soya Bean, Green Natural Fresh Celery, SugarCane, and Organic Husked Coconut.

Furthermore, they are excited to share that AA Plus Trade Link Ltd has entered into a substantial business agreement with CNX Corporation Limited, a reputed commodity trading company. CNX Corporation Limited has expressed its intent to forward export orders worth a total of Rs. 1,70,00,00,000 to AA Plus Trade Link Ltd in the coming quarters.

JK TYRE & INDUSTRIES LTD : CARE has upgraded Company’s Long-Term lssuer Rating to’CARE A+’ from ‘CARE A’. the bank instruments are Long-term Bank Facilities : From CARE A+; Stable (Single A Plus; Outlook: Stable) to Revised from CARE A; Stable (Single A; Outlook: Stable), Long-term / Short Term Bank facilities: from CARE A+; Stable / CARE A1 (Single A Plus;Outlook: Stable / A One) to Revised from CARE A; Stable / CARE Al (Single A ; 0utlook.Stable/AOne)

# Copper prices rose slightly due to Beijing’s property market support measures.

# China’s copper cathode production showed strong growth.

# Copper inventories in Chinese regions exhibited mixed trends.

# Zinc prices surged due to declining inventories and reduced overseas production.

# A notable discount exists for near-term zinc delivery compared to the three-month contract on the LME.

# Zinc inventories have fluctuated, and stocks in China have doubled this year.

# China’s refined zinc output declined month-on-month but increased year-on-year.

The initial public offering (IPO) of wire and cables manufacturing company RR Kabel opens for subscription today - September 13 - at a price band of ₹983-1035 and closes on September 15. The total offer is ₹1,964 crore, of which ₹180 crore is a fresh issue, while the rest is an offer-for-sale, wherein private equity firm TPG is selling stake. Of the ₹180 crore, ₹136 crore will be used for re/ pre-payment of debt, and the rest for general corporate purposes. Read more

“Markets are likely to maintain the upward bias amid recovery in other Asian gauges. The August US CPI figures reinforces speculation that the Federal Reserve may pause its rate hikes in next week’s policy meeting. However, the technical landscape continues to be bullish with Nifty bulls now aiming aggressively at the psychological 20500 mark. However, persistent FII selling and expensive valuations could limit the upside going ahead.” -- Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd

Venus Remedies announced its recent registration with the Department of Scientific and Industrial Research, an Indian government body

SBI General Insurance Company has bought 6 lakh shares JTL Industries which is into making electric resistance welded (ERW) steel pipes

Sarveshwar Foods Ltd

Stock Split From Rs.10/- to Rs.1/-

Previous day Closing Price – Rs. 148.75

Ex Split 15 September 2023 (Tomorrow)

Last date Trade for Before Split Today

Ex-Dividend 15 September 2023 (Tomorrow)

Last date for Cum-Dividend Today

Amines & Plasticizers Ltd.

Dividend Per Share Rs.0.5

Previous day Closing Price – Rs. 124.6

Apollo Pipes Ltd

Dividend Per Share Rs.0.6

Previous day Closing Price – Rs. 701.5

Ashok Alco-Chem Ltd.

Dividend Per Share Rs.1

Previous day Closing Price – Rs. 111.95

Arihant Superstructures Limited

Dividend Per Share Rs.0.5

Previous day Closing Price – Rs. 182.7

Bigbloc Construction Ltd

Dividend Per Share Rs.0.4

Previous day Closing Price – Rs. 155.8

Cantabil Retail India Ltd.

Dividend Per Share Rs.2.5

Previous day Closing Price – Rs. 1107.7

Capital India Finance Ltd

Dividend Per Share Rs.0.1

Previous day Closing Price – Rs. 119.5

Creative Castings Ltd

Dividend Per Share Rs.10

Previous day Closing Price – Rs. 1087.05

CSL Finance Ltd

Dividend Per Share Rs.2.5

Previous day Closing Price – Rs. 303.2

Dai-Ichi Karkaria Ltd.

Dividend Per Share Rs.4

Previous day Closing Price – Rs. 479.5

Everest Kanto Cylinder Ltd.

Dividend Per Share Rs.0.7

Previous day Closing Price – Rs. 119.55

Elcid Investments Ltd.

Dividend Per Share Rs.25

Previous day Closing Price – Rs. 3.21

Eldeco Housing & Industries Ltd.

Dividend Per Share Rs.8

Previous day Closing Price – Rs. 718.45

Empire Industries Ltd.

Dividend Per Share Rs.25

Previous day Closing Price – Rs. 1092.9

Entertainment Network (India) Ltd.

Dividend Per Share Rs.1

Previous day Closing Price – Rs. 148.8

Exhicon Events Media Solutions Ltd

Dividend Per Share Rs.1

Previous day Closing Price – Rs. 280.5

Garden Reach Shipbuilders & Engineers Ltd

Dividend Per Share Rs.0.7

Previous day Closing Price – Rs. 798.15

HBL Power Systems Ltd.

Dividend Per Share Rs.0.45

Previous day Closing Price – Rs. 262.8

HMA Agro Industries Ltd

Dividend Per Share Rs.3

Previous day Closing Price – Rs. 784

Indo Thai Securities Ltd.

Dividend Per Share Rs.0.6

Previous day Closing Price – Rs. 225.25

Indraprastha Medical Corp. Ltd.

Dividend Per Share Rs.3

Previous day Closing Price – Rs. 160.75

Indian Railway Finance Corporation Ltd

Dividend Per Share Rs.0.7

Previous day Closing Price – Rs. 78.85

Jindal Stainless Ltd.

Dividend Per Share Rs.1.5

Previous day Closing Price – Rs. 513.2

Jyoti Resins & Adhesives Ltd.

Dividend Per Share Rs.6

Previous day Closing Price – Rs. 1623.4

Kilpest India Ltd.

Dividend Per Share Rs.2.5

Previous day Closing Price – Rs. 812.45

Krsnaa Diagnostics Ltd

Dividend Per Share Rs.2.75

Previous day Closing Price – Rs. 635.3

Lincoln Pharmaceuticals Ltd.

Dividend Per Share Rs.1.5

Previous day Closing Price – Rs. 505.2

Multi Commodity Exchange Of India Ltd.

Dividend Per Share Rs.19.09

Previous day Closing Price – Rs. 1754.35

Monarch Networth Capital Ltd

Dividend Per Share Rs.1

Previous day Closing Price – Rs. 322.9

National Aluminium Co. Ltd.

Dividend Per Share Rs.1

Previous day Closing Price – Rs. 97.22

NCL Industries Ltd.

Dividend Per Share Rs.1.5

Previous day Closing Price – Rs. 222.75

Nibe Ltd

Dividend Per Share Rs.0.1

Previous day Closing Price – Rs. 492

The Phoenix Mills Ltd

Dividend Per Share Rs.5

Previous day Closing Price – Rs. 1800.2

Pondy Oxides & Chemicals Ltd.

Dividend Per Share Rs.5

Previous day Closing Price – Rs. 468.85

Praveg Ltd

Dividend Per Share Rs.4.5

Previous day Closing Price – Rs. 490.45

Premco Global Ltd.

Dividend Per Share Rs.5

Previous day Closing Price – Rs. 425.05

Rajoo Engineers Ltd.

Dividend Per Share Rs.0.35

Previous day Closing Price – Rs. 74.41

Rolcon Engineering Co. Ltd.

Dividend Per Share Rs.2

Previous day Closing Price – Rs. 458

Rushil Decor Ltd.

Dividend Per Share Rs.0.5

Previous day Closing Price – Rs. 294.8

Salasar Techno Engineering Ltd

Dividend Per Share Rs.0.1

Previous day Closing Price – Rs. 51.22

Sangam (India) Ltd.

Dividend Per Share Rs.2

Previous day Closing Price – Rs. 333.2

Sanrhea Technical Textiles Ltd.

Dividend Per Share Rs.1

Previous day Closing Price – Rs. 71.27

Shahlon Silk Industries Ltd

Dividend Per Share Rs.0.06

Previous day Closing Price – Rs. 13.16

Shukra Pharmaceuticals Ltd

Dividend Per Share Rs.0.5

Previous day Closing Price – Rs. 175.6

Sika Interplant Systems Ltd.

Dividend Per Share Rs.4

Previous day Closing Price – Rs. 1022.95

S.P. Apparels Ltd

Dividend Per Share Rs.3

Previous day Closing Price – Rs. 534.2

Speciality Restaurants Ltd.

Dividend Per Share Rs.2.5

Previous day Closing Price – Rs. 206.05

Star Paper Mills Ltd.

Special Dividend Per Share Rs. 1.5

Dividend Per Share Rs.3.5

Previous day Closing Price – Rs. 223

Superhouse Ltd.

Dividend Per Share Rs.1

Previous day Closing Price – Rs. 219.3

Supriya Lifescience Ltd

Dividend Per Share Rs.0.6

Previous day Closing Price – Rs. 296.35

Super Tannery Limited

Dividend Per Share Rs.0.05

Previous day Closing Price – Rs. 7.68

Talbros Automotive Components Ltd.

Dividend Per Share Rs.2

Previous day Closing Price – Rs. 967.25

Techno Electric & Engineering Company Ltd

Dividend Per Share Rs.6

Previous day Closing Price – Rs. 509.2

Uttam Sugar Mills Ltd.

Dividend Per Share Rs.2.5

Previous day Closing Price – Rs. 412.4

Veritas (India) Ltd.

Dividend Per Share Rs.0.05

Previous day Closing Price – Rs. 236.35

Vikram Thermo (India) Ltd.

Dividend Per Share Rs.0.5

Previous day Closing Price – Rs. 113.6

Vardhman Special Steels Ltd.

Dividend Per Share Rs.2

Previous day Closing Price – Rs. 209.25

Vardhman Textiles Ltd.

Dividend Per Share Rs.3.5

Previous day Closing Price – Rs. 386.15

Southern Gas Ltd.

Dividend Per Share Rs.50

Previous day Closing Price – Rs. 71.60

“The US Consumer Price Inflation YoY increased from 3.2% YoY rise in July 2023 to 3.7% YoY in August 2023, exceeding the consensus estimate of 3.6%.

The monthly increase in the CPI was 0.6%, the highest level in over a year.

Due to excessive volatility, food and energy prices are excluded from core inflation, which increased by 0.3% on a monthly basis.

When analyzing the categorical data, it is evident that the inflation of food and housing has been one of the largest drivers of YoY inflation growth.

Given that this is the second straight monthly increase, there is growing concern that the FED’s fight against inflation is still far from over. At their most recent meeting, they postponed raising interest rates, and it is anticipated that they will do the same in September. However, if inflation continues to rise, the November FOMC meeting may see a rate hike.” -- Paras Matalia, Fund Manager, SAMCO Mutual Fund:

Every $10 rise in Brent crude prices could widen India’s current account deficit by 0.5% and lead to a rise in inflation,” says VK Vijayakumar, chief investment strategist at Geojit Financial Services.

India’s Gold imports surged about 40 per cent in August on hopes of strong festive buying.

Oil has reached a 10-month high due to supply constraints.

WTI crude futures increased towards $89 a barrel, trading near the highest levels in ten months on speculation that the global oil market will continue to tighten supply. The International Energy Agency maintained its demand growth projections for 2023 and 2024 while predicting that sustained supply restrictions by Saudi Arabia and Russia will result in a significant market deficit through the fourth quarter.

The study was released a day after OPEC predicted a huge fourth-quarter deficit of 3.3 million barrels per day while the US EIA predicted a lower deficit of 230,000 barrels.

US crude stocks increased by 4 million barrels last week, contrary to forecasts for a decrease, according to government figures.

DELTACORP

HINDCOPPER

IEX

IBULHSGFIN

INDIACEM

MANAPPURAM

NALCO

RECLTD

SAIL

The Board of The Bombay Dyeing and Manufacturing Company Limited has approved a proposal to sell the land parcel of about 22 acres (along with the associated FSI) in Worli, Mumbai, to Goisu Realty Private Limited (a subsidiary of Sumitomo Realty & Development Company Limited) in 2 phases, for a total consideration of about ₹5,200 crore. Upon approval of Shareholders, BDMC will receive about ₹4,675 cror from the Buyer for Phase-I. The balance amount of about ₹525 crore will be received upon completion of certain conditions by BDMC and execution and consummation of the definitive agreements thereto for Phase- II.

Adani Enterprises has said that its arm Adani New Industries Ltd has received a key international certification and will now be able to start production of 5.2 MW series wind turbine generators for global markets. The company was so far manufacturing and supplying 5.2 MW Wind Turbine Generators (WTGs) for domestic wind industry players.

NBCC India Ltd has received Consultancy & Project Management Services order from SAIL for upcoming Infrastructural related projects of Bokaro Steel Limited Plant, township, Mines & Collieries. The order value is ₹180 Crore.

KPI Green Energy has successfully commissioned 7.80MW wind-solar hybrid power project for its client Mono Steel India Limited, Surat, under ‘Captive Power Producer, under the Gujarat Wind-Solar Hybrid Power Policy 2018.

Bajaj Healthcare Limited (BHL), a leading manufacturer of APIs, Intermediates and Formulations, has announced the receipt of the Establishment Inspection Report (EIR) from the United State Food and Drug Administration (USFDA), for the Pre-approval inspection that was carried out by the USFDA in November, 2022 at its manufacturing facility in Savli, Vadodara, Gujarat with Zero 483 observations (No inspectional observations).

United Spirits: Company says received VAT & CST assessment orders for FY21. Tax authority has denied the input tax credit taken by Co on ENA purchased

METALFORGE

Quarterly Result

AAIL

Final Dividend - Rs. - 0.5000

AMRUTANJAN

Final Dividend - Rs. - 2.6000

BAJAJELEC

Spin Off

BLS

Final Dividend - Rs. - 0.2500

CAPPL

Final Dividend - Rs. - 2.5000

DHUNINV

Final Dividend - Rs. - 2.5000

DIVSHKT

Final Dividend - Rs. - 2.0000

DRAGARWQ

Dividend - Rs. - 3.0000

GANECOS

Dividend - Rs. - 2.0000

GOCLCORP

Dividend - Rs. - 5.0000

GOCLCORP

Special Dividend - Rs. - 5.0000

INVPRECQ

Final Dividend - Rs. - 1.0000

JKIL

Final Dividend - Rs. - 3.5000

LAKSHMIMIL

Dividend - Rs. - 9.0000

LAMBODHARA

Final Dividend - Rs. - 0.7500

MANAKSIA

Final Dividend - Rs. - 3.0000

MURUDCERA

Final Dividend - Rs. - 0.5000

NIKHILAD

Final Dividend - Rs. - 0.2000

PAISALO

Final Dividend - Rs. - 0.1000

PATELSAI

Dividend - Rs. - 3.0000

PRESTIGE

Final Dividend - Rs. - 1.5000

RADICO

Final Dividend - Rs. - 3.0000

REFEX

Final Dividend - Rs. - 2.0000

RELCHEMQ

Final Dividend - Rs. - 2.5000

RHIM

Final Dividend - Rs. - 2.5000

RUBFILA

Final Dividend - Rs. - 1.2000

SAKTHIFIN

Dividend - Rs. - 0.7000

SANDHAR

Final Dividend - Rs. - 2.5000

TPLPLAST

Final Dividend - Rs. - 0.6000

TVTODAY

Final Dividend - Rs. - 3.0000

VADILALIND

Final Dividend - Rs. - 1.5000

VADILENT

Final Dividend - Rs. - 1.5000

WEPSOLN

Final Dividend - Rs. - 0.5000

We interacted with Sameer Khetarpal, the CEO of Jubilant FoodWorks, to understand industry demand and company strategy. According to him, the QSR industry demand continues to decelerate and recent trends are tougher than witnessed during the last six months. The pressure is across markets, brands, and formats. Signs of stress on demand are witnessed even in tier 2/3 cities with mall food courts wearing a deserted look. Moreover, one additional month of Sawan is expected to further dampen SSSG in Q2-FY24.

IndiGo has received regulatory approval from the Directorate General of Civil Aviation (DGCA) to wet lease 11 Airbus A320 planes. Sources within DGCA, requesting anonymity, confirmed this approval. Read more

The Nifty PSU Bank index hit a fresh 52-week high on Wednesday, gaining 4.2 per cent to close at 4,938. The gauge has gained 10.5 per cent in September and is up 56 per cent in the last one year. In comparison, the Nifty 50 has gained 11.1 per cent in the past year.

The top gainers on Wednesday were J&K Bank (9.4 per cent), Punjab National Bank (8.5 per cent) and Indian Overseas Bank (8.2 per cent). State Bank of India, the country’s largest lender, was up 1.4 per cent.

The market regulator revoked its earlier wind-up order against Brickwork Ratings (BWR) and passed several directions to the rating major.

The move follows the Securities Appellate Tribunal’s directive to relook at its earlier order cancelling the licence of BWR licence as a credit rating agency. “While affirming some of the violations, the tribunal remitted the matter to SEBI to issue a fresh order on the quantum of penalty.”

Nilesh Shah, MD of Kotak Mahindra Asset Management Company, discusses India’s economic outlook amidst global developments, emphasizing trade deficits, local manufacturing, and attracting foreign investments. He also addresses the role of elections and challenges faced by ESG funds in India. Read more

Official data from the Reserve Bank of India shows that in July, ITC invested $20 million in Welcomhotels Lanka Pvt Ltd equity. Read more

Bank of India (BoI) on Wednesday raised ₹2,000 crore via Basel-III compliant tier-II bonds at 7.88 per cent coupon rate through NSE’s Electronic Bidding Platform.

The public sector bank, in a statement, said it received a total of 83 bids amounting to ₹3,770 crore. Out of these, the bank accepted 48 bids totalling ₹2,000 crore.

The Nifty50 has been in a structural uptrend over last two decades. This could continue, but with sporadic corrections. Read more

NCLT said that while SC had reserved the rights of the parties to participate in the resolution process, Torrent Investments neither partook in the extended challenge mechanism, nor submitted a resolution plan

Classic Legends, which resurrected iconic brands, including Jawa, Yezdi and BSA, will ramp up marketing, distribution and new product development with the investment

Private equity (PE) investments into India declined 57 per cent year-on-year in August 2023 to $651 million ($ 1,496 million), showed latest data from Refinitiv, an LSEG business. Read more

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

The short-term outlook is bullish for Elgi Equipments. The stock was up over 3 per cent on Wednesday. This rise has happened after a consolidation above the 200-day Moving Average (MA) for more than a week. Read more

Gold prices firmed on Thursday as the dollar and Treasury yields weakened after the U.S. inflation data cemented the case for a Federal Reserve rate pause next week, although bullion was not far from a near three-week lows seen in the previous session.

FUNDAMENTALS: Spot gold added 0.3% to $1,912.09 per ounce, having hit its lowest level since August 25 on Wednesday at $1,905.10. U.S. gold futures were up 0.1% at $1,933.70. - Reuters

Oil prices edged higher on Thursday, after dipping slightly in the previous session, as markets refocused on expectations of tight crude supply for the rest of 2023.

International benchmark Brent futures climbed 17 cents to $92.05 a barrel at 12:02 GMT, while U.S. West Texas Intermediate crude (WTI) rose 19 cents to $88.71.

Saudi Arabia and Russia’s extension of oil output cuts to the end of 2023 will mean a substantial market deficit through the fourth quarter, the International Energy Agency (IEA) said on Wednesday, as it largely stuck by its estimates for demand growth this year and next.

The Organization of the Petroleum Exporting Countries (OPEC) on Tuesday stuck to its forecasts for robust growth in global oil demand in 2023 and 2024. - Reuters

On Wednesday, Wall Street experienced a mixed close, while U.S. Treasuries stayed within a narrow range. This came after data revealed that underlying inflation was continuing its gradual decline, reinforcing the expectation that the Federal Reserve will maintain current interest rates.

The Dow Jones Industrial Average declined by 70.1 points, equivalent to a 0.2% decrease, closing at 34,575.89. In contrast, the S&P 500 saw a modest gain of 5.59 points, a 0.13% increase, closing at 4,467.49. The Nasdaq Composite showed a more substantial rise, adding 39.96 points, or 0.29%, closing at 13,813.59.

Asian stocks showed a positive trend driven by cautious optimism, as the majority of Wall Street investors appeared to overlook a US inflation report that fell in line with expectations. This reinforced the belief that the Federal Reserve might pause its rate hikes, though it’s important to note that this doesn’t necessarily signify the end of such actions.

Equity markets in Japan and South Korea experienced modest gains, while Australia’s stocks also saw a slight uptick in anticipation of an August jobs report.

As of 6:45 am, the Nikkei 225 index exhibited a decrease of 0.21 per cent, trading at 32,706.52, whereas the Topix index recorded a gain of 0.44 per cent, reaching 2,389.20. Meanwhile, South Korea’s KOSPI index was trading 0.54 per cent higher at 2,547.65, and Australia’s S&P/ASX 100 index was up 0.28 per cent at 6,028.5.