Share Market Highlights 21 August 2024: Indian equities soar as FMCG, media, and pharma lead the charge

Markets closed higher on Wednesday, with the benchmark Nifty 50 index gaining 71.35 points or 0.29 per cent to end at 24,770.20. The BSE Sensex also closed 102.44 points or 0.13 per cent higher at 80,905.30.

The Indian rupee nosedived 14 paise to 83.91 (provisional) against the US dollar on Wednesday amid unabated outflow of foreign capital and volatile domestic equity markets.

Forex traders said a weak American currency and lower level of crude prices, however, cushioned the local unit at lower level.

At the interbank foreign exchange, the rupee opened weak at 83.79 and touched the intra-day low of 83.94 against the greenback. The unit finally settled at 83.91 (provisional) against the dollar, registering a loss of 14 paise from its previous days’ closing level of 83.77.

Aditya Gaggar Director of Progressive Shares:

After a knee-jerk reaction in the opening trade, the Index gradually compounded its gains to end the trade at 24,770.20 with gains of 71.35 points. Defensive FMCG was the top gainer by soaring over 1.30% followed by Media (+1.20%) and Pharma (+0.91%); and on the flip side, Realty (1.31%) was the major loser. Midcaps performed in line with the Frontline Index from the Broader markets while Smallcaps outperformed with gains of 1.20%. For the Index, the view remains the same i.e. heading towards 24,870 (range breakout target) while the support level shifted higher to 24,640.

Top gainers:

Divi’s Lab (3.70%), Titan (2.42%), SBI Life (2.24%), Grasim (2.02%), Cipla (1.99%) 

Top losers: 

Tech Mahindra (-1.26%), Tata Steel (-1.25%), Ultratech (-1.14%), Power Grid (-0.95%), HDFC Bank (-0.59%)

Top gainers:

Divi’s Lab (3.95%), Titan (2.40%), SBI Life (2.38%), HDFC Life (2.03%), Cipla (1.87%)

Top losers:

Ultratech (-1.32%), Tech Mahindra (-1.27%), Tata Steel (-1.25%), Power Grid (-0.94%), ONGC (-0.89%)

AT Railway Sub Systems Private Limited, wholly owned subsidiary of Sidwal Refrigeration Industries Private Limited, [the wholly owned material subsidiary of Amber Enterprises India) alongwith Yujin Machinery Ltd., a South Korea Based Company, has incorporated a Joint Venture Company namely “Yujin Machinery India Private Limited”, to carry on the business of manufacturing of all types of Driving Gears, Couplers, Pantograph and Brakes for various rolling stocks.

Amber Enterprises stock declined 1.07% on the NSE, trading at ₹4,195.

Stocks advanced on BSE at 3 pm on August 21, 2024, were 2,516 against 1,386 stocks that declined; 107 stocks remain unchanged. Total stocks traded were 4,009. The number of stocks that recorded a 52-week high was 313, and those that hit a 52-week low was 15. 

In addition, 403 stocks traded in upper circuit and 175 stocks hit the lower circuit.

The rapid rise in Ola Electric Mobility Ltd. shares is vindicating the founder’s push to list the company despite initial skepticism over valuation. 

The stock has surged nearly 90 per cent in less than two weeks, bringing its market capitalization to over $7 billion. The company’s initial public offering was India’s biggest in two years and saw participation from across investor segments.

Hindustan Zinc Limited has signed a Memorandum of Understanding (MoU) with Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR), a premier institute sponsored by the Department of Science and Technology, Government of India, to develop new variants of zinc materials to propel the commercialization of zinc-based batteries.

Shares trade flat on the NSE at ₹512.

Share India Securities board has approved the proposal to surrender the License granted to the Company by SEBI for providing Portfolio Management Services.

Stock trades flat on the NSE at ₹302.15

Shriram Properties Ltd on Wednesday said the company is targeting to triple its revenue to Rs 3,000 crore and double sale bookings to Rs 5,000 crore by 2026-27 financial year as the company embarks on its next phase of growth. - PTI

Embassy REIT has signed an agreement to lease with global banking major, CBA for a premium office campus of approximately 0.8 msf along with an expansion option of an additional 0.6 msf at Embassy Manyata.

BGR Energy stock declined 1.34% on the NSE, trading at ₹45.65, following receipt of intimation of termination of contract from Jharkhand Urja Sancharan Nigam Limited with respect to Supply, Installation, Testing and Commissioning of 132/33 kV GIS at Sarath, Sundernagar and Chattarpur.

GE T&D India stock trades at its lower band of ₹1,717.50, down by 5% on the NSE. 

Its promoters GE Grid Alliance B.V. and Grid Equipments Private Limited are in the process of reviewing their shareholding structure in the company and are evaluating the possibility of a minority stake sale.

JNK India received a significant order (₹0-50 crore) from Mundra Petrochem Limited, a company of Adani Group, on August 20, 2024 for Design, Engineering, Procurement, Fabrication, Supply, Erection, Testing and Commissioning of Flare Package for Green PVC Project at Mundra, Gujarat, India. 

Shares rose 2.45% to trade at ₹761 on the NSE.

JK Tyre & Industries has approved an investment of ₹1.32 Crore in 26% equity shares of face value of ₹10 each, for cash at par, of TRUERE Galaxy Private Limited

Shares rose 2.98% on the NSE, trading at ₹416.90.

The ​Indian stock market showed mixed signals in mid-day trading​, with the ​Nifty 50​ index marginally up and the ​Sensex​ slightly down.

As of 12:45 PM, the Nifty was trading at 24,724.45, up 25.60 points or 0.1% from its opening of 24,680.55. Meanwhile, the Sensex stood at 80,747.32, down 55.54 points, or 0.07%, from its opening of 80,667.25.

BPCL clarified that the proposal for procurement of LPG from Equinor India Pvt Ltd is under discussion and same is in the normal course of business. At present, no contract or agreement has been finalised for the same. 

Shares trade flat on the NSE at ₹351.90

Nippon Life India Asset Management Limited (NAM India), asset manager of Nippon India Mutual Fund (NIMF), announces the launch of Nippon India Nifty 500 Equal Weight Index Fund - An open-ended scheme replicating/tracking Nifty 500 Equal Weight Index^.

The NFO opens on August 21, 2024, and closes on September 04, 2024. The minimum investment amount required during NFO is Rs 1000 and in multiples of Re 1 thereafter. The performance of the Scheme shall be benchmarked against Nifty 500 Equal Weight TRI.

Speaking at the launch, Sundeep Sikka, ED and CEO, Nippon India Mutual Fund said, “Building upon our strong track record in passive investments, we are excited to launch the ‘Nippon India Nifty 500 Equal Weight Index Fund’ a Smart-Beta strategy, which would adopt equal weighing approach in contrast to popular indices like Nifty 500, which use Market-cap weighting approach.”

V. Meenaakshisundaram, Vice President (R&D) of Hindustan Composites, has resigned from his position with immediate effect.

Avantel had received final purchase order worth ₹67.92 Crore from NewSpace India Limited

Avantel shares were up 1.85% on the NSE, trading at ₹186.44

JM Financial Private Equity through JM Financial India Growth Fund III has finalised an investment of ₹400 million in Asquare Foods and Beverages Private Limited (“Zoff”).

Proceeds from the above investment will be utilszed in augmenting the brand building initiatives, enhancing the existing capacities and improving the offline distribution network of the Company.

Commenting on the investment, Darius Pandole, Managing Director & CEO, Private Equity & Equity AIFs, JM Financial said, “The branded spices segment has emerged as one of the most attractive categories within the food space. Indian Spices market is highly fragmented and we are witnessing a structural shift in consumption from the unorganized to the organized market, owing to factors like hygiene, quality and a general rise in health awareness in a post Covid world. Zoff, a leading online spice brand, has secured a favorable presence across all major online platforms in India, positioning itself as a brand of premier choice in the spices segment. We strongly believe that Zoff can emerge as one of the leading spices brands in the future”

Commenting on the capital raise, Akash Agrawal, Managing Director, Zoff said, “At Zoff, our state-of-the-art, automated plant minimizes human intervention, underlining our dedication to delivering safe and superior spice products. The Company has witnessed exponential growth in the last couple of years. Millennials and GenZs are emerging as active decision makers in the households. With our strong ecommerce presence and a new-age brand positioning, we are well poised to become a trusted choice for this fast-growing segment. The capital infusion and partnership with JM Financial Private Equity will help us fast-track our current and future expansion plans. Our focus is to become one of the top and trusted food brands in India”

Honasa Consumer informed that Delhi HC has directed RSM General Trading LLC to withdraw the execution proceedings of ₹57.17 crore.

Stock trades flat at ₹468.75 on the NSE

Godrej Properties (-2.11%), Lodha (-1.77%), Prestige (-1.31%), DLF (-1.16%), Oberoi Realty (-1.05%

Refex Sustainable Solutions Private Limited (RSSPL), a wholly-owned subsidiary of Refex Renewables & Infrastructure, has entered into and executed an investment agreement for acquisition of controlling stake up to 51.02% of the total voting powers, from the existing promoters and investment by way of fresh equity infusion in Vyzag Bio-Energy Fuel Private Limited.

Refex Renewables & Infrastructure stock rose 1.42% on the BSE, trading at ₹600

Indoco Remedies Limited announced the receipt of final approval from the USFDA for Abbreviated New Drug Application (ANDA) for Lofexidine Tablets 0.18 mg to market a generic equivalent of Lucemyra Tablets, 0.18 mg of USWM, LLC.

Shares surged 4.24% on the NSE, trading at ₹350.

In July 2024, InCred Asset Management’s Emerging Business Fund provided returns over 11.4% to their high-net-worth investors. InCred Asset Management’s Emerging Business Fund is a Category II and long only scheme.

“Long-only” scheme refers to an investment strategy where the fund only takes long positions in securities. This means that the fund buys and holds securities with the expectation that their value will increase over time.

InCred Asset Management’s Emerging Business Fund is managed by Aditya Sood, Fund Manager, InCred Asset Management, and Adiya Khemka, Fund Manager, InCred Asset Management.

ICICI Securities stock dropped 4.99% to trade at ₹805.95 on the NSE. Mumbai bench NCLT approved the scheme of arrangement for the proposed delisting of ICICI Securities from BSE and NSE.

MSSL Mideast (FZE), a wholly owned subsidiary of Samvardhana Motherson International Limited, has incorporated a wholly owned subsidiary, namely, Motherson Strategic Systems Mideast Limited, Jebel Ali Free Zone, Dubai.

Samvardhana shares were up 2.37% on the NSE, trading at ₹194.

Thomas Cook (India) Limited and its Group Company, SOTC Travel, have launched a Customer Self-Service (CSS) holiday app, for iOS and Android users.

Shares surged 3.88% on the NSE, trading at ₹219.35.

ABB has surpassed a 10-gigawatt (GW) milestone in delivering its automation solution for renewable energy plants in the country.

Stock trades flat on the NSE at ₹7,855.

Central Depository Services (India) Limited informed that Nilesh Lodaya, Executive Vice President – Chief of Business Development & New Projects of the Company has been appointed with effect from August 21, 2024, and he will be considered as a Senior Management Personnel as per SEBI Listing Regulations.

Top gainers on the NSE as at 12 noon:

Divi’s Lab (3.32%), Titan (2.56%), Hindalco (1.78%), Asian Paints (1.48%), SBI Life (1.46%)

Top losers:

Tata Steel (-1.30%), Ultratech Cement (-1.14%), HDFC Bank (-0.91%), ICICI Bank (-0.79%), HCL Tech (-0.68%)

Stocks advanced on BSE at 12 noon on August 21, 2024, were 2,457 against 1,286 stocks that declined; 146 stocks remain unchanged. Total stocks traded were 3,889. The number of stocks that recorded a 52-week high was 272, and those that hit a 52-week low was 13. 

In addition, 334 stocks traded in upper circuit and 155 stocks hit the lower circuit.

ICICI Securities Limited has paid ₹69,82,500 to the Securities and Exchange Board of India (‘SEBI’) towards settlement amount.

The same was in relation to a settlement application submitted to SEBI in connection with the inspection of books and records for the Merchant Banking activities of the Company.

Stock declined 2.58% on the NSE, trading at ₹826.35

EKI Energy Services Limited (EKI) has received a Letter of Authorization (LOA) from the Ministry of Natural Resources and Climate Change (MNRCC) of Malawi for Improved Cookstove Distribution project. 

Stock trades flat on the BSE at ₹329.50

Marksans Pharma Limited announced that its wholly owned subsidiary Relonchem Limited has received Marketing Authorization from UKMHRA for the below mentioned products: 1) Fluoxetine 10mg Capsules 2) Fluoxetine 30mg Capsules 3) Fluoxetine 60mg Capsules

Stock trades flat at ₹220.97 on the NSE

Birla Corporation has issued 1000 units of Commercial Paper of ₹5,00,000 each aggregating to ₹50 Crore.

Stock rose 1.65% to trade at ₹1,303 on the NSE

Servotech has secured a substantial contract to Build 12 EV Charging Stations for ANERT, Kerala Govt.

Servotech Power Systems stock surges 3.89% on the NSE, trading at ₹135.85.

Wardwizard Foods and Beverages Limited has appointed Deepak Nambiar as the Head of Corporate Communications.

Wanbury Limited announced that its API manufacturing site in Patalganga, Maharashtra, has won two awards at the National Safety Council - Maharashtra Chapter’s Maharashtra Safety Awards Competition 2023 conducted by Maharashtra State Government. 

Stock trades at ₹207 on the NSE, up 2.89%.

L&T’s Transportation Infrastructure vertical has secured large order (₹2,500-5,000 crore) for Integrated Infrastructure Development project in Town Planning Schemes 2 to 7 under the Navi Mumbai Airport Influence Notified Area (NAINA) Project in Maharashtra.

Shares trade flat on the NSE at ₹3,606.

SEPC (10.39%), PNB Housing (9.22%), Century Textiles (8.36%), Morepen Lab (7.57%), Nykaa (7.50%)

Top losers:

Symphony (-2.97%), Godfrey Phillips (-2.96%), Phoenix Mills (-2.91%), Sandur (-2.58%), Avalon (-2.53%)

Hindustan Zinc has received an Order from the Office of the Commissioner of Central Excise & CGST Commissionerate confirming Penalty of Rs. 26,12,05,495 along with Tax demand and applicable Interest. The issue pertains to Input Tax Credit availed and reported by the Company in GSTR-3B and GSTR-9 during FY 2019-20 and 2020-21

Stock trades at ₹511.25 on the NSE, down by 0.26%.

Nifty 50, the Indian benchmark index, opened flat at 24,681 versus yesterday’s close of 24,699. It is currently hovering around 24,700.

The advance/decline ratio stands at 32/18, giving the index a bullish bias. Divi’s Laboratories is the top gainer by appreciating 3.3 per cent; UltraTech Cement, down 1.6 per cent, is the top loser.

RateGain Travel Technologies Limited was selected by Thai International Public Company Limited (Thai Airways), the national flag carrier of Thailand and a proud member of the Star Alliance network for a multi-year partnership with RateGain’s dedicated platform for Airlines, AirGain. 

RateGain shares declined 1.08% to trade at ₹713 on the NSE

Genus Power Infrastructures shares trade at the upper circuit ₹437.75 on the NSE, higher by 4.99%. Its wholly owned subsidiary has received three Letter of Awards (LOA) worth ₹3,608.52 crore (net of taxes) for appointment of Advanced Metering Infrastructure Service Providers (AMISPs) including design of Advance Metering Infrastructure (AMI) system with supply, installation and commissioning with FMS of about 4.26 million Smart Prepaid Meters, system meters including DT Meters with corresponding energy accounting on DBFOOT basis.

Sell, TP Rs 85

CO also announced that 1320MW Buxar thermal power plant has been delayed further with Unit 1 expected to be commissioned by end-FY25 & Unit 2 in FY26 

Arun-3 commissioning timelines maintained 

At 3.2x P/BV H1FY27E risk-reward unfavorable

OW, TP Rs 2100 

Divesting stake in Cyient DLM; proceeds to be used for M&A and debt repayment 

Co intends to utilize for investments in the semiconductor business, organic growth and inorganic M&A, as well as to retire debt. 

Cyient’s DET business has $47m of debt as of Jun’24, which believe could be partly repaid using while remaining amount could be used for M&A 

Apart from semiconductor biz, other vertical where there could be potential M&A is Auto

Outperform Call On SBI Life, Max Fin & HDFC Life

Underperform Call On ICICI Prudential Life 

Market Perform Call On LIC 

Private Life Insurers In India Present A Good Way To Get Exposure To High-income Households 

Private Life Insurers Have Stable Growth Runway, Healthy Compounding & Modest Valuation Ask 

Think Indian Life Insurers Deserve More Attention From Investors

PV Volumes Have Grown At A CAGR Of Only 4% From FY19-24 Vs 8-9% In The Past

PV Volumes Are Not Yet In A Frothy Phase Or Have Seen An Absolute Peak 

Without An Entry-Level Recovery, Believe Volumes Will Be In The Low-single Digits 

Volumes Will Expand To High-single Digits By FY25/26 As Macro Continues To Stay Healthy 

Still Prefer Maruti Over M&M As It Faces Low Expectations 

Maruti Stacks Up Well On Inventory And The Room For Affordable Vehicle Recovery

Downgrade Tech Mah To Hold, Target Rs 1,670

Downgrade Tech Mah On Back Of Strong Rally & Stretched Valuations 

Global Telecom Capex Outlook Remains Weak But Deal Wins Are Still High 

Enterprise 5G Commercialisation Is Still Sometime Away Due To Lack Of Use Cases 

Tech Mah May Face Multiple Near-term Challenges, Particularly In Its Telecom Vertical 

There Is No Announcement Of Any Large Cost Optimisation Deals From Tech Mah 

Multiple Deals Announced By TCS, Infosys & Wipro

Buy Call, Target Rs 1,840 

Business Fundamentals Remain Strong 

Believe Pullback After Results Is An Enhanced Buying Opportunity 

Business Momentum Is Healthy 

See Upside From Distribution Expansion, New Products (Dairy Beverages, Energy/Sports Drinks) 

New Territories Like South Africa, Congo Can Also Be Seen As An Upside For The Co

Buy Call, Target Rs 6,000

Channel Checks Indicate Strong Demand 

DMart Store Visits Indicate Strong Footfall And Sales Growth 

Minimax Is A Smaller Format With Focus On Grocery

Overweight Call, Target Rs 2,100

Divesting Stake In Cyient DLM; Proceeds To Be Used For M&A & Debt Repayment 

Co Intends To Utilise For Investments In The Semiconductor Business 

Co’s DET Biz Has $47 m Debt As Of Jun’24, We Believe It Can Be Partly Repaid Using Sale Proceeds 

Vertical Where We Believe There Could Be Potential M&A Is Auto

BofA on VBL: Maintain Buy on Company, target price at Rs 1840/Sh (Positive)

UBS on DMart: Maintain Buy on Company, target price at Rs 6000/Sh (Positive)

Emkay on IOCL: Maintain Add on Company, target price at Rs 205/Sh (Positive)

Emkay on BPCL: Maintain Buy on Company, target price at Rs 405/Sh (Positive)

Emkay on HPCL: Maintain Buy on Company, target price at Rs 475/Sh (Positive)

JP Morgan on Cyient: Maintain Overweight on Company, target price at Rs 2100/Sh (Positive)

GS on SJVN: Maintain Sell on Company, raise target price at Rs 85/Sh (Positive)

Goldman Sachs on India Consumer: FMCG growth improved, driven by HPC companies (Positive)

Bernstein on Life Insurers: Proxy for growing wealth of high-income households with long runway for growth and compounding. Outperform Call On SBI Life, Max Fin & HDFC Life (Positive) 

Morgan Stanley on Emerging Market Strategy: Remain overweight on Japan and India (Positive)

Bernstein on Auto: Channel inventory has increased; Dealer association has highlighted that inventory levels are in the range of 70 days. Still prefer Maruti over M&M as it faces low expectations (Neutral)

CLSA on Tech M: Downgrade to Hold on Company, target price at Rs 1670/Sh (Neutral)

Track live movements here

WANBURY: CO APPOINTED MR. PRADEEP PATNI AS CEO OF INDIA FORMULATION BUSINESS || MR. PATNI BRINGS OVER 25 YEARS OF DISTINGUISHED EXPERIENCE IN THE PHARMACEUTICAL INDUSTRY || WORKED WITH COMPANIES SUCH AS JANSSEN (10 YEARS), PFIZER LTD. (6 YEARS), ABBOTT HEALTHCARE (6 YEARS)

Century Textiles (12.37%), Just Dial (9.03%), Nelco (6.69%), Patanjali (3.63%), Muthoot Finance (3.50%)

Route – Tender 

Buyback Price: 12,000/- 

Current Market Price: 9,700/-

Market Cap: Rs 12,616 Crore 

Buyback Size: Rs 130 Crores (Representing 9.68% and 9.66% of the total paid up equity share capital and free reserves) Buyback Size: 1,08,333 shares (Representing 0.83% of O/s. shares)

Retail Quota: 16,250 Shares

Entitlement:

General Category - 1 Equity Shares for every 135 Equity Shares held on the Record Date

Retail Category - 1 Equity Shares for every 22 Equity Shares held on the Record Date

Buyback Record Date: 16 Aug 2024

Tender Period:

Start Date - 22 Aug 2024

Close Date - 28 Aug 2024

Obligation Date - 03 Sep 2024 

Settlement Date - 04 Sep 2024

The rupee depreciated by 7 paise to 83.84 against the US dollar in early trade on Wednesday, tracking subdued domestic equity market trend and unabated outflow of foreign capital.

A weak American currency and lower crude prices, however, supported the local unit and prevented its sharp fall, forex traders said.

E2E Networks secures ₹420.51 crore as investment to propel growth as leading AI-first hyperscaler

Shares surge 5% to trade at ₹2,385.65 on the NSE, also its upper circuit

Top gainers on the NSE as at 9.30 am:

Divi’s Lab (2.70%), Dr Reddy’s (1.55%), L&T (0.85%), Bharti Airtel (0.66%), Cipla (0.57%)

Top losers:

Ultratech (-1.14%), Shriram Finance (-0.78%), Tech Mahindra (-0.76%), ICICI Bank (-0.70%), HDFC Bank(-0.65%)

BSE Sensex traded at 80,727.04, down by 75.82 pts or 0.09% as at 9.16 am, and Nifty 50 traded at 24,691.20, down by 7.65 pts or 0.03%.

Crude oil futures traded lower on Wednesday morning as an industry report showed an increase in inventories in the US. At 9.13 am on Wednesday, October Brent oil futures were at $77.09, down by 0.14 per cent, and October crude oil futures on WTI (West Texas Intermediate) were at $73.06, down by 0.15 per cent. September crude oil futures were trading at ₹6139 on Multi Commodity Exchange (MCX) during the initial hour of trading on Wednesday against the previous close of ₹6154, down by 0.24 per cent, and October futures were trading at ₹6104 against the previous close of ₹6112, down by 0.13 per cent.

Rupee is likely to open around 83.79 and trade a 83.70-83.90 range with sideways price action.

Rupee strengthened 8 paise on Tuesday to 83.79. The Indian currency has been underperforming amid broad Dollar weakness. This has resulted in a move higher in Cross/INR.

-- India Forex And Asset Management Pvt Ltd.

AARTIIND 

ABFRL 

BALRAMCHIN 

BANDHANBNK 

BSOFT 

GNFC\u0009\u0009 

GRANULES 

HINDCOPPER 

INDIACEM 

LICHSGFIN 

MANAPPURAM 

PEL 

NATIONALUM 

RBLBANK 

SAIL 

SUNTV

BBL

Dividend - Rs. - 35.0000

EMAMIPAP 

Final Dividend - Rs. - 1.6000

ENGINERSIN Final Dividend - Rs. - 1.0000

GATEWAY 

Interim Dividend - Rs. - 1.2500

HAL

Final Dividend - Rs. - 13.0000

INDIAGLYCO 

Final Dividend - Rs. - 8.0000

ISGEC 

Dividend - Rs. - 4.0000

ITDCEM 

Final Dividend - Rs. - 1.7000

KPIGREEN 

Interim Dividend - Rs. - 0.2000

LINC

Final Dividend - Rs. - 5.0000

MUFTI

Final Dividend - Rs. - 0.5000

PFIZER

Final Dividend - Rs. - 35.0000

RAJPALAYAM

Dividend - Rs. - 0.6000

SAHLIBHFI

E.G.M. 

SATIA Interim Dividend - Rs. - 0.1000

SNOWMAN

Interim Dividend - Rs. - 1.0000

SPRAYKING 

Bonus issue 1:1 

SUMEDHA

Final Dividend - Rs. - 1.0000

SYMPHONY

Interim Dividend - Rs. - 1.0000

SYMPHONY

Buy Back of Shares 

UNIPARTS

Interim Dividend - Rs. - 6.7500

VIDHIING

Interim Dividend - Rs. - 1.0000

GIFT Nifty -17 pts (24690) from last trade 24707 , 

Nikkei -322 pts , 

Hangseng -197 pts , 

Now @6.52am . 

Dow -61.56 pts ,Nsdq -59.83 pts, S&P 

-11.13 pts , Bovespa +309 pts , Ftse -83 pts , Dax -64 pts , Cac -16 pts , Crude @ $74.04 brl (-0.00), Brent @ $77.20 brl (-0.00) , Gold @ 2552.70 (+2.10), Silver $29.485 (-0.03), Euro @ $1.1128, JPY @ $145.21, INR @ 83.765

US GOVT. 10-YR YIELD : 3.81%

AARTIIND

ABFRL

BALRAMCHIN

BANDHANBNK

BSOFT

GNFC

GRANULES

HINDCOPPER

INDIACEM

LICHSGFIN

MANAPPURAM

NATIONALUM

PEL

RBLBANK

SAIL

SUNTV

PGHL

23.30 U.S. FOMC Meeting Minutes

TJX Companies, Inc. (Pre market) (Sector- Retailer)

Analog Devices, Inc. (Pre market) (Sector- Technology)

Target Corporation (Pre market) (Sector- Retailer)

Full Truck Alliance Co. Ltd. (Pre market) (Sector- Technology)

Synopsys, Inc. (Post market) (Sector- Technology)

Snowflake Inc. (Post market) (Sector- Healthcare)

Zoom Video Communications, Inc. (Post market) (Sector- Technology)

Nordson Corporation (Post market) (Sector- Capital Goods)

Mumbai-based IT solutions provider Orient Technologies’ initial public offering (IPO) will open today and close on Friday, August 23. The IPO consists of a fresh issue of up to ₹120 crore and an offer for sale (OFS) of up to 46 lakh shares by promoter selling shareholders. The price band has been determined as ₹195–206 a share. Investors can bid for a minimum of 72 equity shares and in multiples of 72 equity shares thereafter.

Buzzing stocks: PNB Housing, L&T, Apollo Hospitals, Cyient, Cyient DLM, GE T&D India, BGR Energy, Updater Services, Genus Power, Prism Johnson, Sansera, CESC, Exide, NHPC, RMC Switchgears, Weizmann

Advent International’s portfolio company Manjushree Technopack has filed draft papers for a Rs 3000 crore initial public offer, in which the company will be raising Rs 750 crore through a fresh issue and Rs 2250 crore would be an offer for sale. 

The private equity firm will be selling some of its stake in the IPO, its average cost of acquisition having been at Rs 361.85 apiece. It currently holds 97.54 per cent stake in the packaging firm.

Of the total funds raised Rs 500 crore will be used to pay down debt and the remaining to fund inorganic growth through acquisitions and other purposes.

Post listing on August 9th, Ola Electric has achieved another significant milestone with its mass-market scooters S1 X 3 kWh and S1 X 4 kWh receiving Certification for Compliance with the eligibility assessment requirements as per the Production Linked Incentive (PLI) Scheme for the automobile and auto components. Both the S1 X 3 kWh and S1 X 4 kWh scooters have successfully met the stringent minimum localisation criteria of 50%, as mandated by the Ministry of Heavy Industries. 

With this, Ola Electric has become the only 2W and pure-play EV manufacturer to receive the certification for compliance with the eligibility assessment requirements (PLI certificate) for four products - S1 Air, S1 Pro, S1 X (3 kWh, and 4 kWh). The company had earlier received the certificate for S1 Air at the Auto PLI Conclave organised in January 2024.

FIIS F & O : RS. CRS. : 

TOTAL NET SELL : -6552 😭

INDEX FUT. : +1974 

INDEX OPT. : -12476

STOCK FUT. : +2323

STOCK OPT. : +1626

🔹SEC. IN F&O BAN FOR, 21-AUG-2024 :\u0009

1. \u0009AARTIIND\u0009 2. ABFRL\u0009 3. \u0009BALRAMCHIN\u0009 4. BANDHANBNK\u0009\u0009 5. \u0009BSOFT\u00096. GNFC\u0009\u00097. \u0009GRANULES\u0009 8. HINDCOPPER\u0009\u00099. INDIACEM\u0009 10. LICHSGFIN\u0009\u000911. MANAPPURAM\u0009 12. \u0009\u0009PEL\u0009\u000913. NATIONALUM \u0009 14. \u0009RBLBANK\u0009 15. \u0009SAIL\u0009 16\u0009. SUNTV

🔹INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 20-AUG-2024 : 

FIIS : SELL -1,458 (17,714-19,172) 😥

DIIS : BUY +2,252 (13,182-10,930) 😃

BSE SENSEX : +378 (80,803)🔼 

NSE NIFTY : +126 (24,698)🔼

BSE MIDCAP. : +468 (48,113)🔼

BSE SMLCAP. : +283 (54,856)🔼

B. CRUDE : $ 77.98 🔽😊

GOLD: $ 2,525=INR 74,780(10gr)🔼😊

SILVER : RS. 85,000 (kg)🔼😃

FOREX : RS. $ 83.80 🔼 🙂

7.10% GOI ‘34 : 6.8561% (101.6875)🔽🙂

7.18% GOI ‘33: 6.8901%(101.9150)🔽🙂

7.18% GOI ‘37: 6.9080% (102.2925)🔽🙂

Company: PNB Housing Finance Ltd (the “Company”)

Exchange Identifiers: NSE: PNBHOUSING / BSE: 540173

Bloomberg Ticker: PNBHOUSI IN Equity

Sole Bookrunner / Sole Broker: IIFL Securities Limited

Type of Transaction: Vendor sale - By way of one or more share sales on the screen-based trading platform of Indian Stock Exchanges (“Sale”)

Vendors / Sellers: General Atlantic Singapore Fund FII Pte Ltd

Floor Price: INR 775.0 per Equity share (4.4% discount to INR 810.9 per share close on the NSE on 20 August 2024)

Offer Size (# Shares): Up to 13,325,074 shares / c. 5.1% of existing TSO

Offer Size (INR MM/ USD MM): Up to INR 10,327 Mn / US$ 123.2 Mn (calculated at floor price)

Primary / Secondary: 100% secondary

Lock Up: N/A

Brokerage Commission & Other Charges: 25 bps + GST + stamp duty + STT + Exchange Transaction charges + SEBI Fees; OR 32 bps (all-inclusive except STT) + 10 bps STT

OR 27 bps + GST + STT

USD-INR Rate: 83.7988 (Source: Bloomberg as at 3:00 pm on 20 August 2024)

Books Open Date: 20 August 2024 (T-1)

Books Close Date: 21 August 2024 at 8:15 am IST (option to close earlier with 30 minutes notice)

Expected Trade Date: 21 August 2024 (T)

Expected Settlement Date: 22 August 2024 (T+1)

Pricing Guidance: No guidance will be given on pricing until the shares are crossed on the Indian Stock Exchanges on 21 August 2024. Investors should indicate the demand sensitivities across the price range.

Allocation: There is no assurance that any order for shares will be met in part or full, principally due to the operational mechanics and the screen based trading mechanism of the Indian Stock Exchanges.

Selling Restrictions: In “offshore transactions” as defined in, and pursuant to, Regulation S under the U.S. Securities Act. Offers and sales into the United States only to “qualified institutional buyers” as defined in Rule 144A under the U.S. Securities Act that are also “qualified purchasers” (as defined in Section 2(a)(51) under the U.S. Investment Company Act), in transactions exempt from registration requirements under the U.S. Securities Act

Not for distribution to retail clients.

Distribution: Offers and sales into the United States only to “qualified institutional buyers” as defined in Rule 144A under the U.S. Securities Act that are also “qualified purchasers” as defined under the U.S. Investment Company Act. Outside the United States, only to institutional and professional investors in “offshore transactions” as defined in, and pursuant to Regulation S.

Though aluminium prices have dropped some 9 per cent since surging to a two-year high of $2,695 a tonne on May 29, 2024, they are likely to rise due to tight supply for the remainder of the year, analysts have said.

The metail hit a 5-week high on Tuesday on alumina shortage in China due to rising consumption.

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

The stock idea that we have for you today is UTI Asset Management Company. The stock has made bullish breakout above a key resistance on Tuesday. That leaves the door open for the stock to go further up in the coming days.