Share Market Highlights August 22, 2024: Sensex, Nifty extend winning streak on Fed Rate cut hopes; TVS Motor, Interglobe Aviation surge

Top gainers on the NSE: 

Grasim (2.65%), Tata Consumer Products (2.42%), Bharti Airtel (1.60%), Apollo Hospitals (1.37%), Tata Steel (1.37%)

Top losers: 

Wipro (-1.37%), NTPC (-1.25%), Tata Motors (-1.22%), M&M (-1.21%), Dr Reddy’s (-1.17%)

Zomato, set to acquire Paytm’s entertainment ticketing business, will be launch its new app for the going-out business District, in the next few weeks. It plans to eventually transition and house its existing and acquired businesses in the going-out segment on the District app.

The food delivery and quick commerce major on Wednesday said it has inked a definitive agreement to acquire Paytm’s entertainment ticketing business for a total consideration of ₹2,048 crore. It expects this transaction to bet completed within this quarter.

The National Company Law Tribunal (NCLT) Chandigarh Bench has approved the merger of Escorts Kubota India Private Limited and Kubota Agricultural Machinery India Private Limited with Escorts Kubota Limited.

Natural gas futures on the Multi Commodity Exchange (MCX) has been on a downtrend since mid-June. But so far in August, the prices have been recovering on the back of a support.

Navratna Defence Public Sector Undertaking, Bharat Electronics Limited (BEL) has secured orders worth ₹695 crore.

BEL shares trade flat at ₹305.30 on the NSE.

BSE Sensex gained 123.86 pts or 0.15% to 81,030.16 and NSE Nifty rose 38.20 pts or 0.15% to 24,808.40.

Top gainers on the NSE as at 3 pm:

Grasim (2.61%), Tata Consumer Products (2.29%), Bharti Airtel (1.63%), Tata Steel (1.51%), ICICI Bank (1.39%)

Top losers:

NTPC (-1.45%), Tata Motors (-1.45%), Dr Reddy’s (-1.34%), Wipro (-1.24%), M&M (-1.21%)

Stocks advanced on BSE at 3 pm on August 22, 2024, were 2,411 against 1,514 stocks that declined; 106 stocks remain unchanged. Total stocks traded were 4,031. The number of stocks that recorded a 52-week high was 335, and those that hit a 52-week low was 13. 

In addition, 414 stocks traded in upper circuit and 178 stocks hit the lower circuit.

PGIM India Mutual Fund today announced the launch of PGIM India Multi Cap Fund, an open-ended equity scheme investing across large-cap, mid-cap and small-cap stocks. The fund is benchmarked against Nifty 500 Multicap 50:25:25 TRI.

The New Fund Offer (NFO) opens for subscription on August 22, 2024, and closes on September 05, 2024.

“Given near-term volatility in the equity markets, a typical question we face is “What do you think about the markets?” That’s a difficult one to answer and anybody’s guess. However, the second follow up question one gets is “Where do you think we should invest for the current market conditions?” While this is best answered for each individual’s specific situation and goals by a trusted advisor, a simple step could be to take exposure to all market capitalizations in a disciplined format. A multi cap strategy provides investors with a disciplined approach to diversify their exposure towards all market caps,” said Ajit Menon, CEO, PGIM India Asset Management.

“We believe it’s a good time to invest in a diversified portfolio of good quality and high growth companies, as these have significantly underperformed in the last few years despite strong growth in their intrinsic values. We have seen early signs of outperformance of this strategy post the election results and the change in Bank of Japan’s monetary policy, in the last couple of months,” said Vinay Paharia, CIO, PGIM India Asset Management.

The scheme will invest a minimum of 25% each in large, mid and small-cap stocks, respectively. While typically the balance 0 - 25% will be invested in ground-up opportunities across any or all of the three market cap buckets, the scheme also has a provision to take exposure in debt (up to 25%), up to 10% in REITs and InvITs, and up to 20% in foreign securities, including overseas ETFs. 

The equity portion of the scheme will be managed by Vivek Sharma, Anandha Padmanabhan Anjeneyan and Utsav Mehta while the debt portion will be managed by Puneet Pal.

“There are good long-term opportunities available across market capitalizations which will benefit from India’s growth juggernaut. What we need is careful stock picking and a balanced portfolio to take advantage of this. It is imperative to have exposure to all market capitalizations at all times which also changes appropriately according to the opportunities available. PGIM India Multi Cap Fund aims to do just that,” said Vivek Sharma, Senior Fund Manager - Equity, PGIM India Asset Management.

Multi Cap strategy entails a balanced approach towards investment, in both established and emerging fast-growing sectors across the mid and small-cap space. As winners keep rotating across different market capitalizations, A Multi Cap Fund provides disciplined exposure across different market caps capturing ideas regardless of the size. *Our research shows that Nifty 500 Multicap 50:25:25 TRI has outperformed Nifty 500 TRI in 11 out of the last 19 years from 31-Dec-05 to 31-Jul-24.

The portfolio construction approach is bottom-up and well-diversified. The fund adopts a Growth at a Reasonable Price (GARP) focused strategy with flexibility to adjust between short, medium, and long-term growth opportunities based on market conditions. It may allocate to turnaround ideas, event-driven opportunities, and stocks showing momentum, driven by earnings growth in the medium to long term. The fund aims to capitalise on themes such as healthcare, financialization, mobility, consumption, new energy, among others, which are emerging on account of the structural changes undergoing in the Indian economy. 

GAIL (India) Limited and Petron Scientech Inc signed a Memorandum of Understanding on August 21, 2024, to explore setting up a 500 KTA bio-ethylene plant in India. The proposed project, based on bio-ethanol, would be a 50:50 joint venture. The companies will conduct feasibility studies to assess technical viability and financial prospects before seeking investment approval from their respective managements.

The shares of GAIL (India) Limited were trading at ₹235.94, down by ₹0.21 or 0.09 per cent on the NSE at 12:24 pm today.

Crompton Greaves Consumer Electricals Ltd has completed the initial phase of a transformative solar street lighting project in Trivandrum, Kerala.

Shares declined 1.13% on the NSE, trading at ₹462.70.

BEML stock rose 1.79% on the NSE, trading at ₹3,913 on signing an MoU with the Directorate of Marine Engineering, Indian Navy, to design, develop, make and extend product support of marine engineering equipment.

Shares of Indian Renewable Energy Development Agency Limited (IREDA) surged 10.03 per cent today, trading at ₹262.85, up by ₹23.95 on the BSE as of 11:45 am.

Indian Renewable Energy Development Agency Limited (IREDA) announced today that its board will meet on August 29, 2024, to discuss a proposal for raising up to ₹4,500 crore through equity share issuance. The state-owned company is considering various options, including a Further Public Offer (FPO), Qualified Institutional Placement (QIP), Rights Issue, or Preferential Issue.

The shares of Nazara Technologies Limited were trading at ₹963, down by ₹4.15 or 0.43 per cent on the NSE today at 11:15 am.

Nazara Technologies Limited, an Indian gaming company, continues its expansion strategy with two significant moves announced this month. On August 21, 2024, Nazara revealed plans to invest up to £21.2 million (approximately ₹229.4 crore) in its UK subsidiary to finance the acquisition of Fusebox Games Ltd.

Aether Industries Limited (Aether) has entered into a Contract / Exclusive Manufacturing Agreement with Chemoxy International Limited, a wholly-owned subsidiary of the SEQENS group (Seqens). 

Aether stock surges 2.49% on the NSE, trading at ₹921.60.

Indian equity markets traded marginally higher on Thursday afternoon, with the Sensex and Nifty both showing modest gains. As of 1:15 pm, the BSE Sensex was trading at 81,030.96, up 125.66 points or 0.16 per cent from its opening level of 81,207.24. The NSE Nifty stood at 24,805.95, rising 35.75 points or 0.14 per cent from its opening of 24,863.40.

The latest Fed meeting minutes and the downward revision of US job growth data by about 0.5% indicate that a rate cut is coming in September. Here’s the view from Palka Arora Chopra, Director of Master Capital Services Ltd: 

The likelihood of the Federal Reserve opting for a substantial 50-basis point rate cut in September hinges on the central bank’s assessment of the employment and inflation balance leading up to the meeting. Although indicators suggest a potential rate decrease, the odds of such a significant cut are still uncertain. Currently, traders estimate a 38% chance of a 50-basis point reduction, up from an earlier expectation of 33%, while a 25-basis point cut has a 62% probability. In response to a potential Fed rate cut, Indian stocks that may benefit include those in the IT, BFSI (Banking, Financial Services, and Insurance), Auto, and Realty sectors. A Fed rate reduction typically weakens the US dollar, increases liquidity, and lowers borrowing costs, which can positively impact these sectors.

Overall, the rate cuts will be welcomed positively by the Indian market because the Reserve Bank of India is following the US Federal Reserve’s lead when it comes to interest rates, and their announcements will spur additional rate cuts in India, which will enhance liquidity, attract capital inflows, and strengthen the value of the rupee.

Dhruv Consultancy Services Limited in association with Civisor Ingenieria and Infra Services Private Limited and Global Infra Solutions has received the “Letter Of Award” (LOA) from NHAI towards the Consultancy Services in form of providing Independent Engineer Services for supervision of i) 4 laning of Aligarh-Palwal Section from Km. 0.00 (Starting from juncLion of NH -34 Aligarh) to Km. 46. 390 (Design Chainage) Package-I from (Khereshwar Junction - Kurana) of NH 334D, lncluding Khair and Jattari Bypass in the state of Uttar Pradesh on HAM Mode under NH(O) scheme (Package-I) and

ii) 4 laning of Aligarh-Palwal Section from Km. 46.390 (Desïgn Chainate)‘ to Km. 69.110 (Terminating at junction EPE) (Package- II from Kurana- Eastern Peripheral 

Dhruv Consultancy Services shares hit upper circuit on the NSE at ₹142.35, higher by 4.99%

Zen Technologies Ltd announced the latest Indian Patent Grant for its “Trigger Sensing System”, a crucial component of the “TacSim “ range of products.

Zen Tech shares traded flat on the NSE at ₹1,787.65.

VBL (2.80%), Tata Consumer Products (2.48%), Godrej Properties (2.43%)

The BSE Sensex gained 190.33 pts or 0.24% to 81,095.63 and NSE Nifty rose 62.35 pts or 0.25% to 24,832.55. 

Trent’s Westside has inaugurated its newest store in Ludhiana and in Mira-Bhayandar, Thane.

Trent shares were up 1.63% on the NSE, trading at ₹6,938.65

TVS Motor Company has launched its all-new Jupiter 110, starting at ₹73,700 (ex-showroom, New Delhi). The scooter will be available in 4 variants – Drum, Drum Alloy, Drum SXC and Disc SXC at all TVSM dealerships.

The new Jupiter 110 boasts ‘industry-first advanced connected features along with several enhancements, including a longer wheelbase, extended seat, and the largest under-seat storage in its class—capable of holding two helmets’. Read more

Central Bank of India has entered into a co-lending partnership with Piramal Capital & Housing Finance Ltd to offer MSME_LAP and home loans at competitive rates.

Shares trade at ₹61.18 on the NSE, up 0.79%.

ICRA has projected year-on-year (YoY) GDP expansion to moderate to a six-quarter low of 6 per cent in Q1 (April-June) FY25, amidst a contraction in Government capital expenditure and a dip in urban consumer confidence, even as the value of new project announcements plunged to Rs 1.2 lakh crore in Q1FY25, the lowest cost in any quarter in two decades.

Paras Defence and Space Technology stock surges 4.62% on NSE, trading at ₹1,289.95 on receipt of industrial licence from The Department for Promotion of Industry & Internal Trade (DPIIT) to establish an industrial undertaking for manufacturing several items. 

Dabur India Ltd will set up its first plant in Southern India and has inked an MoU with the Government of Tamil Nadu. The company said on Thursday that, in the first phase, it will invest ₹135 crore in the manufacturing facility, which will be scaled up to ₹400 crore over a period of five years. The plant is expected to become operational within a year. Read more

The Bartronics India Ltd board has approved entering into a Memorandum of Understanding and given a Non-Binding Term Sheet for the proposed investment by acquisition, which aims to secure a 3% equity stake in Ventugrow Consultants Pvt. Ltd along with an additional 2% in the form of Advisory Board Equity, resulting in a total 5% stake in the B2B segment. Furthermore, Bartronics plans to acquire a controlling 51% stake in a newly forming subsidiary of Ventugrow Consultants Pvt. Ltd.

Bartronics stock rose 2.77% on the BSE, trading at ₹16.68

Escorts Kubota has informed that NCLT, Chandigarh, has approved the Scheme of Amalgamation among and between Escorts Kubota India Private Limited, Kubota Agriculture Machinery India Private Ltd, and the company. Shares trade flat on the NSE at ₹3,814.65

Brokerages are optimistic on the latest development that Zomato will acquire Paytm’s entertainment and ticketing business for ₹2,048 crore. Read more

GAIL (India) Ltd and Petron Scientech Inc (Petron) have inked a Memorandum of Understanding (MoU) to jointly explore setting up of a 500 Kilo Tonne per Annum (KTA) bio-ethylene plant along with its downstream unit(s) in India, based on bioethanol produced in the plant in a 50:50 Joint Venture (JV) mode.

GAIL stock trades at ₹234.62 on the NSE, down by 0.65%.

Top gainers: Grasim (2.85%), Bharti Airtel (1.95%), Tata Consumer Products (1.95%), Hero Motocorp (1.69%), Titan (1.53%)

Top losers: Dr Reddy’s (-1.53%), NTPC (-0.86%), Tata Motors (-0.81%), Power Grid (-0.80%), Hindalco (-0.69%)

Of 3,914 stocks traded on the BSE at 12 noon on August 22, 2024, 2,508 advanced, against 1,266 stocks that declined; 140 stocks remain unchanged. While 296 stocks recorded a 52-week high, 10 hit a 52-week low. In addition, 340 stocks traded in the upper circuit and 159 stocks hit the lower circuit.

Tech Mahindra and Google Cloud today announced a partnership to boost generative AI (Gen AI) adoption and lead digital transformation for various entities of Mahindra & Mahindra (M&M). 

Marine Electricals has entered into a memorandum of understanding with Cummins India to make pumps for Marine Navy ships. 

Under the MoU, both companies will facilitate supply, commission and provide after-sales services in specific areas exclusively for the Indian Navy, apart from private ship owners, said Marine Electrical.

The MoU will also explore opportunities in the energy space by offering power generation solutions. Read more

The shares of Zomato Limited were trading at ₹260 down by ₹0.03 or 0.01 per cent, while those of Paytm (One 97 Communications Limited) were trading at ₹583 up by ₹8.95 or 1.56 per cent at 11 am today on the NSE.

Zomato Limited announced it has signed definitive agreements to acquire Paytm’s entertainment ticketing business for ₹2,048 crore. The deal, expected to close this quarter, will see Zomato take over Paytm’s movie, sports, and event ticketing platforms, including Paytm Insider and TicketNew.

BSE and NSE have imposed a fine on Mishra Dhatu Nigam of ₹5,36,900 each (inclusive of GST) for the quarter ended on June 30, 2024 for non-compliance under Regulation 17(1) of SEBI LODR i.e., half of the Board of Directors does not comprise of Independent Directors.

Shares trade flat at ₹429 on the NSE.

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Researchbytes Events Update

As of 06:55 AM Thursday 22 August 2024

Can set alert for them at www.researchbytes.com 

4:30 PM Indian Phosphat

*Analyst Meet:*InterContinental Marine Drive, at Marine Drive, Mumbai 

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Bank Nifty began today’s session higher at 50,895 versus yesterday’s close of 50,686. The index inched up after opening and is now at 50,930, up 0.5 per cent at the end of the first hour of trade.

Nifty 50 commenced today’s session with a gap-up at 24,863 against yesterday’s close of 24,770. The index moderated a little and is currently at 24,815, up 0.15 per cent so far today. Read more

NTPC has received an order from the Joint Commissioner (Corporate Circle), State Tax, Lucknow Zone-2 of UP state for the payment of Tax, Interest and penalty (totalling ₹82,71,518) under Goods and Service Tax laws. The corporation will file an appeal before the 1st appellate authority of the applicable jurisdiction against the said order within the prescribed timeline.

Shares slip 0.86% on the NSE, trading at ₹405.45.

Shyam Metalics finalised its first 20.43 MW out of the announced 100 MW renewal energy implementation at their Manufacturing Facilities & Office

Stock jumps 8.31% on the NSE, trading at ₹826.65.

Steel Sector - Q1FY25 Review

# Steel demand in Q1FY25 remained stable with industry volumes down 1% QoQ to 35.4mn tons while volumes were up 15% YoY

# Crude Steel production for the industry during Q1FY25 was stable sequentially at 36.8mn tons while finished steel production was up 1%

# During Q1FY25, India had net imports of 0.6mn tons against net exports of 0.5mn tons in Q4FY24 and 0.6mn tons in Q1FY24

# For our coverage, the aggregate domestic crude steel production was up flat YoY and up 5% QoQ to 17.8mn tons and sales volume was up 6% YoY and down 9% YoY to 16.9mn tons

Link to Report: https://tinyurl.com/3b96uaxv

2. Presentation: Agrochemical Export Update India and China August’24

# India’s agrochemical exports relatively stable in June 2024; volume growth of 4% YoY

# In USD terms for June’24, India total agrochemical exports declined by 6% YoY while China exports grew significantly by 31% YoY

# Agrochemical prices are flat sequentially and 13% lower on YoY basis (in comparison to 25% YoY lower in Aug’23)

# The Agri-commodity prices are below its average price of last 13 years after making a high in 2022

# Our View – Generics may benefit from recent trend. The correction in agri-commodity prices is likely to lead a shift towards the consumption of generic agrochemicals, as farmers may opt for more cost-effective options amidst lower profitability

Link to Report: https://tinyurl.com/mr246yu5

3. Presentation: India Agri (Kharif) Update as on 21/08/2024

# As on 16th August 2024 the overall Kharif sowing area is higher by 2.1% YoY at 1031.6 lakh ha in comparison to 1010.5 lakh ha in the same period last year

# For the season (01/06/2024- 14/08/2024), the country as a whole experienced 5% excess rainfall to 598.5mm compared to normal rainfall of 570.7mm

# The nationwide reservoir level is 14% above the 10-year average

# The average increase in Kharif 2024-25 MSP is 7% with paddy increasing at 5%

# Cumulative fertilizer sales as of 31.07.2024 is 108.87 LMT of Urea, 29.65 LMT of DAP, 4.94 LMT for MOP, 40.80 LMT for NPK and 15.55 LMT for SSP

Link to Report: https://tinyurl.com/2szbsjbx

4. Key Takeaway From Kalyan Jewellers Management Meet

# Q2 quarter started on a positive note. The duty rate cut in the budget aided in further driving footfalls and transactions in stores

# Wedding jewellery accounts for 50% of revenue

# The company sees huge scope of growth driven by shift from unorganized to organized

# The company plans on opening 80 franchisee stores for Kalyan and 50 franchisee Candere stores in FY25

# Currently, the company has non-GML debt of Rs9.6bn and aims to reduce Rs3-3.5bn each year

Our View: Consensus is currently building EPS CAGR of 38.5% over FY24-27E. Accordingly, KALYANKJ is trading at P/E of 44.8x/34.8x to consensus FY26/FY27 EPS estimates. NOT RATED

Bernstein on Zomato

Outperform Call, Target Rs 275

Paytm’s Ticketing Business Acquisition Will Expand TAM For Co Into Event Ticketing Business

Acquired Business Will Be Part Of New App ‘District’, Expected To Launch In A Few Weeks

Co Has A Strong Track Record Of Successfully Acquiring Consumer Tech Businesses

Jefferies on Zomato

Buy Call, Target Raised To Rs 335

Valuation Of Paytm’s Ticketing Business Acquisition Looks Compelling In Context Of Growth Forecast

Ultimate Margin Like Food Delivery, Low Capital Intensity Promises High Return Ratio In Steady-state

Co Up Against Leader ‘Bookmyshow,’ The Question Is Can Zomato Do It Yet Again?

Nomura on Zomato

Buy Call, Target Rs 280

Mgmt Believes Paytm’s Ticketing Biz Acqn Will Help To Focus On Areas Where It Expects To Raise GOV

Co Expects To Increase Gross Order Value From `3,200 Cr In FY24 To `10,000 Cr In FY26

Biggest Risks Are Smooth Integration Of Acquired Businesses Into New District App

Cash Burn Initially To Incentivize Users To Migrate From Paytm’s App To Zomato & District Apps

Jefferies on IndiGo

Upgrade To Buy, Target Raised To Rs 5,225 From Rs 4,400

Co’s Operating Performance Has Consistently Surprised In The Past 12-18 Months

Precarious Industry Capacity Situation Has Kept Yields/Spreads Healthy

Supply Adds Seem To Have Picked Up Recently

Raise Spread Estimates, EPS By 6-7% For FY26/27

HSBC on IndiGo

Buy Call, Target Rs 5,165

Business Class Launch Of Co Ends Vistara/Air India Monopoly

Business Class Launch May Not Be Margin Accretive In The Near-term

The Shift Could Reduce Leakage Of Corporate Traffic And Strengthen Positioning

Loyalty Program, Strong Network And Corporate Market Share Could Support Its Premium Product

CLSA on Vedanta

Outperform Call, Target Rs 520

Strong Commodity Cycle & Margin Expansion Projects To Drive Upside

Current Stock Price Seems To Factoring In Aluminium / Zinc Prices To Be $170/140/t Lower Than Spot

Recent Corporate Actions (Stake Sale In Hindustan Zinc & Dividend) Augur Well For Deleveraging

With A Positive Outlook On Metal Prices, & High Dividend Yield, See Risk Reward Attractive

UBS on Shyam Metalics

Initiate Buy, Target Rs 1,200

The Company Is On A High Growth And Transformation Journey

Management’s Pragmatic Approach To Move Up Value Chain

Diversifying Products/Metals & Backward Integration To Capture Efficiencies Make It Stand Out

Successful Foray Into New Businesses Showcases Its Execution Capabilities

Multiple New Projects Commencing Operations In FY25/26 Provide Strong Earnings Visibility

Multiple New Projects Mitigate Profitability Risk Through Diversification

Believe Market Is Not Fully Appreciating Integrated Operations Such As Internal Sourcing

BofA Sec on Maruti

Neutral Call, Target Rs 14,200

Demand Trends In India Have Been Soft Over Last Couple Of Months

India PV Industry Growth Guide Remains At Low-single Digit For FY25

Festive Trends However Will Be Key To Monitor

Sensed More Confidence On Margin Delivery Given Favorable Mix (CNG) & Benign RM

CITI On Paytm

Sell, TP Rs 440

View sale of its entertainment ticketing biz (movies + events) to Zomato for Rs20bn (cash; Rs30/sh for Paytm) as a +ve given that deal-value is higher than implied value for this business in older TP.

Watch for key outstanding regulatory bottlenecks to resolve first – NPCI greenlight to new UPI customer acquisition & Govt FDI approval for payment aggregator license.

GS on Power Grid

Buy. TP Rs 370

Media reports suggest Fatehpur Bhadla HVDC project to be re-bid; expect c.12% hit to reported ‘work-in-hand’

However, not too concerned because of PGCIL’s competitive edge in TBCB over other prvt developers, given its large b/s & low cost of debt

Crude oil futures traded lower on Thursday morning despite the official data showing decrease in inventories in the US for the week ending August 16. Read more

Track live movement of the stocks here

The Indian stock markets opened on a positive note on August 22, 2024, following the global cues driven by expectations of a US Federal Reserve rate cut. The Nifty 50 index opened higher, gaining 93.20 points to start the day at 24,863.40, while the BSE Sensex saw a rise of 301.94 points, opening at 81,207.24. Read more

The rupee traded in a narrow range in morning trade on Thursday, as the support from positive domestic equities was negated by relentless dollar demand from importers.

At the interbank foreign exchange market, the local unit opened at 83.93 and fell to 83.95, registering a loss of 5 paise from its previous close. Read more

Nazara Technologies has entered into a Share Subscription Agreement with Nazara Technologies UK Ltd, a wholly-owned subsidiary of the company, for the infusion of funds not exceeding GBP 4,236,246 (~USD 5.5mn / ~45.9 crore), into Nazara UK by way of subscription to its equity shares, subject to compliance with the applicable laws. Further, the company has also entered into a loan agreement with Nazara UK on for the proposed grant of a loan not exceeding GBP 16,944,985 (~USD 21.9mn / ₹183.5Cr.), in one or more tranches, to Nazara UK.

Nazara Technologies stock trades flat on the NSE at ₹967.40.

Top gainers: Grasim (1.99%), Tata Consumer Products (1.47%), Infosys (0.92%), Tech Mahindra (0.84%), Bharti Airtel (0.78%)

Top losers: Power Grid (-1.56%), Dr Reddy’s (-0.83%), Shriram Finance (-0.75%), TCS (-0.42%), M&M (-0.41%)

Issue Period:- 22- August-24 to 23- August-24

For Non- Retail ( QIB +HNI ) open & close date - 22-August -24 (Today) 

For Retail open & close date – 23 –August-24 

Floor Price: INR “132”

Closing Price on date of announcement: Rs. 136.80\u0009

Current Market Price: 136.80

Base Issue size: 7.57 Crs Shares – 9.66% of O/S Capital

Green Shoe Issue size: 6.01 Crs Shares – 7.66% of O/S Capital

Total Issue Size: 13.58 Crs equity shares (INR 1792 Cr) – 17.32% of O/s Capital

Non-Retail Portion (QIB + HNI) - 90% of Offer Size - Bidding on 22-August -24 (Today) 

Total Issue Size: 12.21 Crs shares (INR 1612.7 Cr)

Retail Portion - 10% of Offer Size - Bidding on 23 August, 2024 

Total Issue Size: 1.35 Crs equity shares (INR 179.2 Cr)

Note : Upto Rs 2 lacs bids are classified as Retail and above non retail ( QIB + HNI )

Final Call Money on Partly Paid-Up Equity Shares

Issue Price: Rs 150/-

Application Money: Rs 50/-

Final Call Money: Rs 100/-

SAMMAANCAP Price: Rs 174.45/- 

SCLPP Price: Rs 67.02/- (Price as on 19 Jul 2024)

Symbol: SCLPP 

BSE Code: 890192 

Call Record Date: 22 July 2024

Call payment period: 08 Aug 2024 to 22 Aug 2024 (Today).

Brent crude oil futures traded marginally higher on Thursday morning as the official data showed decrease in inventories in the US for the week ending August 16. At 9.20 am on Thursday, October Brent oil futures were at $76.09, up by 0.05 per cent, and October crude oil futures on WTI (West Texas Intermediate) were at $71.88, down by 0.07 per cent. September crude oil futures were trading at ₹6052 on Multi Commodity Exchange (MCX) during the initial hour of trading on Thursday against the previous close of ₹6030, up by 0.36 per cent, and October futures were trading at ₹6030 against the previous close of ₹6010, up by 0.33 per cent.

Route – Tender\

Buyback Price: 675/-\

Current Market Price: 604/-

Market Cap: Rs 4,174 Crores\

Buyback Size: Rs 36.45 Crores (Representing 2.09% and 2.09% of the total paid up equity share capital and free reserves)\ 

Buyback Size: 5,40,000 shares (Representing 0.78% of O/s. shares)\

Retail Quota: 81,000 Shares

Entitlement:

General Category - 7 Equity Shares for every 928 Equity Shares held on the Record Date

Retail Category - 21 Equity Shares for every 544 Equity Shares held on the Record Date

Buyback Record Date: 16 Aug 2024

Tender Period:

Start Date - 22 Aug 2024 (Today)

Close Date - 28 Aug 2024

Obligation Date - 03 Sep 2024 

Settlement Date - 04 Sep 2024

Route – Tender 

Buyback Price: 12,000/-\ 

Current Market Price: 9,798/-

Market Cap: Rs 12,743 Crores\ 

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 (Today)

Close Date - 28 Aug 2024

Obligation Date - 03 Sep 2024 

Settlement Date - 04 Sep 2024 

Route – Tender\u0009\u0009

Buyback Price: 2,000/-\u0009\u0009

Current Market Price: 1,796/-

Market Cap: Rs 8,365 Crores\u0009\u0009\u0009

Buyback Size: Rs 100 Crores (Representing less than 10% of the total paid up equity share capital and free reserves)\u0009\u0009

Buyback Size: 5,00,000 shares (Representing 1.10% of O/s. shares)\u0009

Retail Quota: 75,000 Shares

Entitlement:

General Category - 5 Equity Shares for every 528 Equity Shares held on the Record Date

Retail Category - 3 Equity Shares for every 28 Equity Shares held on the Record Date

Buyback Record Date: 16 Aug 2024

Tender Period:

Start Date - 22 Aug 2024 (Today)

Close Date - 28 Aug 2024

Obligation Date - 03 Sep 2024 

Settlement Date - 04 Sep 2024

Route – Tender\u0009\u0009

Buyback Price: 800/-\u0009\u0009

Current Market Price: 670.30/-

Market Cap: Rs 2,946 Crores\u0009\u0009\u0009

Buyback Size: Rs 40 Crores (Representing 4.62% and 4.57% of the total paid up equity share capital and free reserves)\u0009\u0009

Buyback Size: 5,00,000 shares (Representing 1.14% of O/s. shares)\u0009

Retail Quota: 75,000 shares

Last Cum Trading Date: 22 Aug 2024 (Today)

Ex-Date: 23 Aug 2024

Buyback Record Date: 23 Aug 2024

Buyback Schedule: Not Yet Announced

Dividend Dates 

Ex-Dividend 23 Aug 2024 (Tomorrow) 

Last date for Cum-Dividend Today 

ABB India Limited 

Dividend Per Share Rs.10.66 

Previous day Closing Price – Rs. 7915.6 

A.K.Capital Services Ltd. 

Dividend Per Share Rs.8 

Previous day Closing Price – Rs. 1094.55 

Astra Microwave Products Ltd. 

Dividend Per Share Rs.2 

Previous day Closing Price – Rs. 882.65\ 

Bhageria Industries Ltd 

Dividend Per Share Rs.1 

Previous day Closing Price – Rs. 181.65 

Bhatia Communications & Retail (India) Ltd 

Dividend Per Share Rs.0.01 

Previous day Closing Price – Rs. 22.78 

Crest Ventures Limited \u0009\u0009

Dividend Per Share Rs.1\u0009\u0009

Previous day Closing Price – Rs. 462\u0009\u0009

\u0009\u0009

Crestchem Ltd.\u0009\u0009

Dividend Per Share Rs.0.5\u0009\u0009

Previous day Closing Price – Rs. 164.75\u0009\u0009

\u0009\u0009

Deepak Spinners Ltd.\u0009\u0009

Dividend Per Share Rs.0.5\u0009\u0009

Previous day Closing Price – Rs. 212.8\u0009\u0009

\u0009\u0009

Dynacons Systems & Solutions Ltd.\u0009\u0009

Dividend Per Share Rs.0\u0009\u0009

Previous day Closing Price – Rs. 1559.05\u0009\u0009

\u0009\u0009

Everest Kanto Cylinder Ltd.\u0009\u0009

Dividend Per Share Rs.0.7\u0009\u0009

Previous day Closing Price – Rs. 189.45\u0009\u0009

\u0009\u0009

Federal Bank Ltd.\u0009\u0009

Dividend Per Share Rs.1.2\u0009\u0009

Previous day Closing Price – Rs. 203.2\u0009\u0009

\u0009\u0009

Gujarat Ambuja Exports Ltd.\u0009\u0009

Dividend Per Share Rs.0.35\u0009\u0009

Previous day Closing Price – Rs. 138.65\u0009\u0009

\u0009\u0009

Gandhar Oil Refinery (India) Ltd\u0009\u0009

Dividend Per Share Rs.0.5\u0009\u0009

Previous day Closing Price – Rs. 219.4\u0009\u0009

\u0009\u0009

Godfrey Phillips India Ltd.\u0009\u0009

Dividend Per Share Rs.56\u0009\u0009

Previous day Closing Price – Rs. 5666.25\u0009\u0009

\u0009\u0009

Gujarat Hotels Ltd.\u0009\u0009

Dividend Per Share Rs.2.5\u0009\u0009

Previous day Closing Price – Rs. 238.45\u0009\u0009

\u0009\u0009

Insecticides (India) Ltd.\u0009\u0009

Dividend Per Share Rs.2\u0009\u0009

Previous day Closing Price – Rs. 929.85\u0009\u0009

\u0009\u0009

Indian Railway Catering And Tourism Corporation Ltd\u0009\u0009

Dividend Per Share Rs.4\u0009\u0009

Previous day Closing Price – Rs. 934.6\u0009\u0009

\u0009\u0009

IL&FS Investment Managers Ltd.\u0009\u0009

Dividend Per Share Rs.0.7\u0009\u0009

Previous day Closing Price – Rs. 14.74\u0009\u0009

\u0009\u0009

KFIN Technologies Ltd\u0009\u0009

Dividend Per Share Rs.5.75\u0009\u0009

Previous day Closing Price – Rs. 1053\u0009\u0009

\u0009\u0009

K.P. Energy Ltd\u0009\u0009

Dividend Per Share Rs.0\u0009\u0009

Previous day Closing Price – Rs. 392.55\u0009\u0009

\u0009\u0009

Kronox Lab Sciences Ltd\u0009\u0009

Dividend Per Share Rs.0.5\u0009\u0009

Previous day Closing Price – Rs. 155.7\u0009\u0009

\u0009\u0009

Kuantum Papers Ltd.\u0009\u0009

Dividend Per Share Rs.3\u0009\u0009

Previous day Closing Price – Rs. 150.85\u0009\u0009

\u0009\u0009

LIC Housing Finance Ltd.\u0009\u0009

Dividend Per Share Rs.9\u0009\u0009

Previous day Closing Price – Rs. 679\u0009\u0009

\u0009\u0009

Vedant Fashions Ltd\u0009\u0009

Dividend Per Share Rs.8.5\u0009\u0009

Previous day Closing Price – Rs. 1169.1\u0009\u0009

\u0009\u0009

Max Healthcare Institute Ltd\u0009\u0009

Dividend Per Share Rs.1.5\u0009\u0009

Previous day Closing Price – Rs. 869\u0009\u0009

\u0009\u0009

Mayur Uniquoters Ltd.\u0009\u0009

Dividend Per Share Rs.3\u0009\u0009

Previous day Closing Price – Rs. 670.3\u0009\u0009

\u0009\u0009

Meera Industries Ltd\u0009\u0009

Dividend Per Share Rs.0.5\u0009\u0009

Previous day Closing Price – Rs. 63.4\u0009\u0009

\u0009\u0009

Natco Pharma Ltd.\u0009\u0009

Dividend Per Share Rs.3\u0009\u0009

Previous day Closing Price – Rs. 1471.75\u0009\u0009

\u0009\u0009

Nicco Parks & Resorts Ltd.\u0009\u0009

Dividend Per Share Rs.0.35\u0009\u0009

Previous day Closing Price – Rs. 149\u0009\u0009

\u0009\u0009

Oil And Natural Gas Corporation Ltd\u0009\u0009

Dividend Per Share Rs.2.5\u0009\u0009

Previous day Closing Price – Rs. 327.65\u0009\u0009

\u0009\u0009

R.J.Shah & Co.Ltd.\u0009\u0009

Dividend Per Share Rs.2.5\u0009\u0009

Previous day Closing Price – Rs. 539.95\u0009\u0009

\u0009\u0009

Rashi Peripherals Ltd\u0009\u0009

Dividend Per Share Rs.1\u0009\u0009

Previous day Closing Price – Rs. 429.15\u0009\u0009

\u0009\u0009

Surya Roshni Ltd.\u0009\u0009

Dividend Per Share Rs.2.5\u0009\u0009

Previous day Closing Price – Rs. 711.6\u0009\u0009

\u0009\u0009

Taal Enterprises Ltd\u0009\u0009

Dividend Per Share Rs.25\u0009\u0009

Previous day Closing Price – Rs. 3058.3\u0009\u0009

\u0009\u0009

Upsurge Investment & Finance Ltd.\u0009\u0009

Dividend Per Share Rs.0.5\u0009\u0009

Previous day Closing Price – Rs. 125.71\u0009\u0009

\u0009\u0009

Venky’s (India) Ltd.\u0009\u0009

Dividend Per Share Rs.7\u0009\u0009

Previous day Closing Price – Rs. 2312.75 

The Yamuna Syndicate Ltd 

Dividend Per Share Rs.400\u0009\u0009

Previous day Closing Price – Rs. 53500

1. Zentech: FUND RAISE

BoD authorized the opening of QIP on 21st Aug 2024, approving the floor price of the Issue at INR 1,685 per share.

2. ⁠Gensol: ORDER

Company has received the Letter of Award (LOA) for execution of 16 MWp turnkey EPC rooftop solar project worth Rs. 40 Crore under commercial and industrial (C&I) segment from a leading textile company. This is a repeat order for Gensol, which will be installed in Madhya Pradesh and Gensol will commission the project in six months. 

3. ⁠Kilburn: FUND RAISE

Board Meeting will be held on 26th August, 2024, to consider Fund Raise. 

(ACQUISITION) Company announced the proposed acquisition of Monga Strayfield Pvt. Ltd., a global leader in radio frequency drying and heating solutions, for a total consideration up to INR 123 Cr. Target Company brings over five decades of expertise in radio frequency drying and heating solutions, alongside a strong presence in the sheet metal fabrication industry, catering to both the USA and European markets. In FY24, the company reported a total revenue of INR 72.9 Cr, a PAT of INR 15.4 Cr.

4. ⁠Avantel: CONFIRMATION OF PROVISIONAL PURCHASE ORDER

In Dec ‘2023, Company announced that it had received a Provisional Purchase Order worth INR 67.9 Cr from NewSpace India Limited. NewSpace India Limited has now accepted the prototype terminals (Xponders), issued the bulk production clearance, and the provisional purchase order has now been converted into a final purchase order. Delivery needs to be executed by April ‘25.

5. Rate Gain: COLLABORATION

Thai Airways has announced a multi-year partnership with RateGain’s AirGain platform. This collaboration aims to enhance Thai Airways’ pricing strategies across its domestic and international routes, leveraging its membership in the Star Alliance network.

Orient Technologies’ IPO received a grand response from HNI and retail of investors on Day 1 of the issue opening on Wednesday. The IPO was subscribed at 6.65 times at the end of the opening day. Read more

Domestic markets are expected to open on a flat note, ahead of the US Federal chief’s pronouncements at the Jackson Hole summit. Gift Nifty at 24,865 signals a gain of about 60-70 points for Nifty at open. According to analysts, the markets are likely to move in a range ahead of the US Fed chief Jerome Powell’s Friday speech at the summit. Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said: The Fed chair’s speech at the Jackson Hole conference on Friday will be eyed by investors for any hint of a rate cut which could fuel buying support. Read more

UBS on Shyam Metaliks: Initiate Buy on Company, target price at Rs 1200/Sh (Positive) 

Jefferies on Indigo: Upgrade to Buy on Company, raise target price at Rs 5225/Sh (Positive) 

CLSA on Vedanta: Maintain Outperform on Company, target price at Rs 520/Sh (Positive) 

Jefferies on Zomato: Maintain Buy on Company, raise target price at Rs 335/Sh (Positive) 

Nomura on Zomato: Maintain Buy on Company, target price at Rs 280/Sh (Positive) 

Elara on Zomato: Maintain Buy on Company, target price at Rs 320/Sh (Positive) 

Bernstein on Zomato: Maintain Outperform on Company, target price at Rs 275/Sh (Positive) 

UBS on Zomato: Maintain Buy on Company, target price at Rs 320/Sh (Positive) 

Nuvama on Home Decor: Venus Pipes, Somany Ceramics and APL Apollo as the top picks in the sector. (Positive) 

Jefferies on Hotels: RevPAR growth for Indian Hotel industry rebounded in July to 16% YoY vs muted Q1 (Positive) 

Emkay on Union Bank: Maintain Reduce on Bank, cut target price at Rs 130/Sh (Neutral) 

Citi on PayTM: Maintain Sell on Company, raise target price at Rs 440/Sh (Neutral) 

Emkay on Zomato: Maintain Buy on Company, target price at Rs 270/Sh (Neutral) 

BofA on Maruti: Maintain Neutral on Company, cut target price at Rs 14200/Sh (Neutral)

The ONGC Ltd board has approved buy-back of Compulsorily Convertible Debentures of Rs 7,778 crores in three tranches by OPaL (ONGC Petro additions Ltd) from FIs, Banks, MFs, and others. It has also approved payment of Rs. 86 crores call money to convert warrants held in OPaL. Post buyback the equity stake in OPaL would be 92.27 per cent

Indoco Remedies gets US FDA approval for ANDA for Lofexidine Tablets 0.18- mg and the company intends to launch the product immediately in the US. This medicine is indicated for mitigation of symptoms associated with acute withdrawal from opioids.

Central Bank of India was declared successful bidder for the sale of Category 1 assets of Future Enterprises. This includes 25.18% stake in Future Generali India Life Insurance Company and 0.51% stake in Future Generali India Insurance Company.

One 97 Communications Ltd, which owns the Paytm brand, on Wednesday said it will sell entertainment ticketing business to Zomato for ₹2,048 crore. Read more

INVESTMENT TRUST OF INDIA SAYS NSE HAS RETURNED THE DEMERGER APPLICATION OF ‘NON-LENDING BUSINESS UNDERTAKING’ TO THE COMPANY STATING TO REFILE THE APPLICATION POST OBTAINING THE REQUISITE IN-PRINCIPLE APPROVAL FROM VARIOUS DEPARTMENTS OF SEBI

COMPANY COMPLETES CONSTRUCTION OF NEW PLANT IN INDORE; WILL COMMENCE PRODUCTIONS OF TABLETS, LIQUID ORAL FORMULATIONS IN SEPT || CO SAYS NEW PLANT REPRESENTS A MAJOR INVESTMENT IN OUR FUTURE, ENABLING US TO MEET THE GROWING DEMAND FOR OUR PRODUCTS WITH ENHANCED EFFICIENCY AND QUALITY

* AARTIIND

* ABFRL

* BALRAMCHIN

* BSOFT

* GNFC

* GRANULES

* HINDCOPPER

* INDIACEM

* LICHSGFIN

* NATIONALUM

* PEL

* SUNTV

10.30 INDIA HSBC Manufacturing PMI (Expected: 58.0 versus Previous: 58.1)

13.00 EURO German Manufacturing PMI (Expected: 45.7 versus Previous: 45.8)

14.00 U.K. Flash Manufacturing PMI (Expected: 52.1 versus Previous: 52.1)

18.00 U.S. Unemployment Claims (Expected: 233K versus Previous: 227K)

19.15 U.S. Flash Manufacturing PMI (Expected: 49.8 versus Previous: 49.6)

19.30 U.S. Existing Home Sales (Expected: 3.92M versus Previous: 3.89M)

THE VAST MAJORITY OF PARTICIPANTS SAID IT WOULD LIKELY BE APPROPRIATE TO EASE POLICY AT THE NEXT MEETING IF DATA CONTINUED TO COME IN AS EXPECTED, MINUTES SHOW.

SEVERAL PARTICIPANTS SAID RECENT PROGRESS ON INFLATION AND INCREASES IN THE UNEMPLOYMENT RATE PROVIDED A PLAUSIBLE CASE FOR A 25-BASIS-POINT RATE CUT AT JULY’S MEETING OR THAT THEY COULD HAVE SUPPORTED SUCH A MOVE.

PARTICIPANTS VIEWED THE INCOMING DATA AS ENHANCING THEIR CONFIDENCE THAT INFLATION WAS MOVING TOWARD 2% OBJECTIVE.

THE MAJORITY OF PARTICIPANTS SAID RISKS TO EMPLOYMENT GOAL HAD INCREASED; MANY NOTED RISKS TO INFLATION GOAL HAD DECREASED.

(AS PER BOND MARKET INDICATIONS, POLICY REVERSAL POSSIBILITY FROM SEPTEMBER)

The E2E Networks board has approved a preferential issue worth over ₹420 crore at ₹1695 a share. Allottees include Ashish Kacholia, Gauri Khan Family Trust, Nav Cap Fund, Madhuri S. Dixit

Q1 SL NET PROFIT 167.8M RUPEES VS 298.2M (YOY); 465.6M (QOQ)

PROCTER & GAMBLE HEALTH: Q1 REVENUE 2.84B RUPEES VS 3.01B (YOY); 2.52B (QOQ)

PROCTER & GAMBLE HEALTH: Q1 EBITDA 482.5M RUPEES VS 453.4M (YOY) || Q1 EBITDA MARGIN 17% VS 15.05% (YOY)

21 August 2024 (Rs. In Crs.)

Turnover: (NSE + BSE)

Cash Volume: 117623.75 + 9515.47 Total : 127139.22

F&O Volume: 528866.84 + 296911.8 Total : 825778.64

Provisional Cash

FII/FPI: NET SELL: -799.74 

(16888.07 - 17687.81) 

DII: NET BUY: +3097.45 

(13299.53 - 10202.08)

For the better part of the decade leading up to 2020, most of Franklin Templeton’s debt funds were chart toppers across categories. Of course, in April 2020, all the good news faded with the forced winding up of six bond schemes – one of them being the top-deck performer ultra short bond fund. Read moreFor the better part of the decade leading up to 2020, most of Franklin Templeton’s debt funds were chart toppers across categories. Of course, in April 2020, all the good news faded with the forced winding up of six bond schemes – one of them being the top-deck performer ultra short bond fund. Read more

State-run miner Coal India expects the net financial impact of the Supreme Court’s ruling on mining taxes on the company to be over ₹6,000 crore as it is hopeful of recovering over 70 per cent of its liabilities from its customers with whom the company has long-term fuel supply agreements (FSAs). Read more

The IPO of Interarch Building Products closed on a high note with overall subscription figures of 93.46 times, as institutional investors pumped in money on the last day of the issue closing on Wednesday. Read more

The stock of Allcargo Logistics has largely charted a sideways trend since April 2023. Barring a brief rally above ₹78 a couple of times in 2024, the scrip has traded within the ₹60 and ₹78 band. Since July, the share price has moved in a narrower range of ₹60-65. Read more

Nippon Life India Asset Management has launched one-of-its-kind passive fund tracking Nifty 500 Equal Weight Index Fund. The fund will invest 0.20 per cent across 500 stocks that constitute the index. Read more

In a post on platform ‘X’ , Senior Congress leader Jairam Ramesh has accused the Competition Commission of India (CCI) of favouring Adani Group, by approving their acquisitions and allowing the creation of monopolies in critical sectors. Read more

Passive investment has been gaining ground as most of the actively managed funds are unable to beat their benchmark indices. The passive funds asset has grown to ₹10.2 lakh crore accounting for 17 per cent of the total market share, while AUM of active funds were at ₹51 lakh crore as of June-end. Read more

A recent circular by the National Stock Exchange (NSE) mandating persons that refer clients to trading members to be appointed as authorised persons (APs) has sent brokers in a tizzy. Read more