Stock Market Live Updates 23 August 2024: Sensex, Nifty trade flat amid mixed global cues; investors eye Powell’s Jackson Hole speech

Cello World incorporated a wholly-owned subsidiary company named as “Cello Consumer Products Private Limited.

Shares trade at ₹910.05 on the NSE, down by 0.41%.

CRISIL Ratings has upgraded its long-term rating on the Tier-II bonds (under Basel III) and infrastructure bonds of YES BANK to ‘CRISIL A+/Stable’ from ‘CRISIL A/Positive’. CRISIL Ratings has also reaffirmed its short-term rating on the certificates of deposit (CD) of the bank at ‘CRISIL A1+’.

​Lancor Holdings​ has concluded by signing the Memorandum of Understanding (MOU) with many of the owners of a re-development project named as “Lancor Ananya” having total built-up area of 85337 sq.ft in prime residential area in the city. The works on this project will commence after receipt of RERA and approved plans. 

Lancor Holdings stock surged 5.11% to trade at ₹47.28 on the NSE.

ICICI Securities has received order under section 73 of the Goods and Service Tax Act, 2017 from the State Goods and Service Tax Department, West Bengal, demanding total of ₹12,51,315. 

Shares were up 1.51% on the NSE, trading at ₹807.50.

SEBI has barred industrialist Anil Ambani, 24 other entities, including former key officials of Reliance Home Finance from the securities market for five years for diversion of funds from the company.

Sebi has imposed a penalty of Rs 25 crore on Ambani and restrained him from being associated with the securities market including as a director or Key Managerial Personnel (KMP) in any listed company, or any intermediary registered with the market regulator, for a period of 5 years. - PTI

Shakti Pumps (India) Limited has received its first order from the state of Jharkhand. Jharkhand Renewable Energy Development Agency has given Letter of Award for 400 Nos. of Solar Water Pumping Systems (SWPS) at various locations across the state of Jharkhand under Component-B of PM-KUSUM scheme. The total amount of the order value is for around Rs. 9.40 Crore.

Shakti Pumps stock rose 1.69% to trade at ₹4,525 on the NSE

An Adani Group-owned company is selling shares worth $500 million in Ambuja Cements, according to a term sheet. The holding company, Holderind Investments, is selling a 2.84% stake in the cement company on Friday, with the floor price of the sale set at ₹600 per share. The sale is at a 5% discount to Thursday’s closing price of ₹631.8. Catch the live action here.

SEPC had received the final acceptance certificate from The Hutti Gold Mines Limited (HGML) for the Contract Agreement received in the year 2013 (for a Total Value of ₹232 crore) for construction of New Circular Shaft with complete Winding Installations on turnkey basis at Hutti, Raichur District, Karnataka, India.

Shares rose 2.17% on the NSE to trade at ₹22.09

JSW Renew Energy Twenty Limited, a wholly-owned subsidiary of JSW Energy, has signed a Power Purchase Agreement (PPA) with Bangalore Electricity Supply Company Limited (BESCOM) for a 300 MW solar project in Pavagada Solar Park, Karnataka. This will ensure power supply until FY 2044 at a tariff of ₹2.89/KWh. The project is expected to be commissioned within 18 months.

Bank Nifty began today’s session higher at 51,040 versus yesterday’s close of 50,986. But then, the index could not get a follow-through rally and moderated. It is now at 50,950, almost flat for the day so far.

There is a bearish indication shown by the advance/decline ratio of Bank Nifty, which currently stands at 1/11. ICICI Bank, up 0.4 per cent, is the only gainer. Bank of Baroda, down nearly 0.5 per cent, is the top loser.

HDFC Bank announced that a penalty of ₹0.002 crore has been imposed on the Bank by Superintendent of Central GST, Navi Mumbai, Maharashtra, for excess availment of input tax.

Shares slip 0.19% to trade at ₹1,628.20 on the NSE

Orient Technologies IPO has been subscribed 23.65 times as of 10.33 am on August 23, 2024. The IOB has been subscribed 0.18 times, NII 37.52 times and retail 30.64 times. The issue closes today.

RailTel Corp shares jump 6.91% on the NSE, trading at ₹504.34 on receipt of work order valued at ₹52.66 crore from the Uttar Pradesh Police Recruitment and Promotion Board.

Nykaa shares gained 5.81% on the NSE, trading at ₹222.64. Market buzz has it that Harindarpal Singh Banga, a pre-IPO investor in FSN E-Commerce Ventures (Nykaa), is planning to sell up to a 1.4 per cent stake through secondary market.

Track live moments of Adani Group stocks here

Rupee traded in a narrow range and appreciated 5 paise to 83.88 against the US dollar in morning trade on Friday, supported by easing crude oil prices and fresh foreign fund inflows.

Forex traders said significant correction in oil prices, which is hovering around $77 per barrel, is a major positive for the rupee, given India’s substantial oil imports.

Ambuja Cements (1.69%) 

Adani Green Energy (1.30%) 

Adani Power (1.21%) 

Adani Wilmar (0.21%) 

Adani Total Gas (0.09%) 

Adani Enterprises (0.06%) 

Adani Ports and SEZ (0.05%) 

NDTV (0.52%) 

ACC (-0.37%) 

Adani Energy Solutions (-0.59%)

Ambuja Cements stock rose 2.09% on the NSE, trading at ₹645 as at 9.45am. Adani group promoters may sell up to 3 per cent of their shares in Ambuja Cements as part of a regular adjustment of holdings they carry to keep stake across the ports-to-energy conglomerate at desired levels

Eicher Motors has received a GST demand order from the Office of the Deputy Commissioner, Dehradun - Sector 3, Uttarakhand.

Demand order for an aggregate amount of Rs. 0.15 crore (which includes tax demand of Rs. 0.14 crore and penalty of Rs. 0.01 crore)

Stock traded at ₹4,947.10 on the NSE, up 0.27%.

Mamaearth has announced the launch of its latest innovation – the Kerala Thaali Hair Care Range.

Honasa Consumer stock slipped 0.33% on the NSE, trading at ₹471

Meghna Infracon Infrastructure has entered into a Re- Development Agreement of land located at premium location of Model Town, Lokhandwala, Andheri (West),Mumbai.

Shares were up 1.94% to trade at ₹513.80 on the BSE

JSW Renew Energy Twenty Limited, a wholly-owned step-down subsidiary of JSW Energy, has signed a Power Purchase Agreement with Bangalore Electricity Supply Company Limited for solar power project of 300 MW.

JSW Energy shares rose 1.15% on the NSE, trading at ₹718.90

Wanbury has received USFDA’s Establishment Inspection Report (“EIR”) with ‘no action required’ classification for the Company’s manufacturing facility located at MIDC Industrial Area, Patalganga, Maharashtra.

Shares surged 4.59% on the NSE, trading at ₹218.79

Top gainers on the NSE as at 9.30 am

Bajaj Auto (2.17%), Hero Motocorp (1.23%), Apollo Hospitals (0.79%), Tata Motors (0.60%), Reliance (0.59%)

Top losers:

LTIMindtree (-1.09%), Titan (-0.87%), Infosys (-0.85%), Wipro (-0.67%), Tech Mahindra (-0.64%)

Crude oil futures traded higher on Friday morning as the market awaited a speech by the US Federal Reserve Chair, Jerome Powell, later in the day for further guidance. At 9.25 am on Friday, October Brent oil futures were at $77.29, up by 0.09 per cent, and October crude oil futures on WTI (West Texas Intermediate) were at $73.06, up by 0.07 per cent. September crude oil futures were trading at ₹6148 on Multi Commodity Exchange (MCX) during the initial hour of trading on Friday against the previous close of ₹6158, down by 0.16 per cent, and October futures were trading at ₹6114 against the previous close of ₹6123, down by 0.15 per cent.

Sensex and Nifty opened on a flat note today, amid cautious sentiment driven by global market uncertainties and investor focus on Federal Reserve Chair Jerome Powell’s upcoming speech at the Jackson Hole Economic Symposium. The Sensex opened at 81,165.65, slightly higher than the previous close of 81,053.19, while the Nifty began the day at 24,845.40, up from the previous close of 24,811.50.

Route – Tender 

Buyback Price: 5,000/- Current Market Price: 4,406/-

Market Cap: Rs 41,553 Crore 

Buyback Size: Rs 500 Crores (Representing 7.92% and 7.51% of the total paid up equity share capital and free reserves) Buyback Size: 10,00,000 shares (Representing 1.06% of O/s. shares)

Retail Quota: 1,50,000 shares

Entitlement:

General Category - 1 Equity Shares for every 111 Equity Shares held on the Record Date

Retail Category - 1 Equity Shares for every 4 Equity Shares held on the Record Date

Buyback Record Date: 20 Aug 2024

Tender Period:

Start Date - 26 Aug 2024

Close Date - 30 Aug 2024

Obligation Date - 05 Sep 2024 

Settlement Date - 06 Sep 2024

Route – Tender

Buyback Price: 300/- 

Current Market Price: 240/-

Market Cap: Rs 1,240 Crore Buyback Size: Rs 60.24 Crores (Representing 9.50% of the total paid up equity share capital and free reserves) 

Buyback Size: 20,07,930 shares (Representing 3.88% of O/s. shares) 

Retail Quota: 3,01,190 Shares

Entitlement:

General Category - 24 Equity Share for every 677 Equity Shares held on the Record Date

Retail Category - 21 Equity Shares for every 251 Equity Shares held on the Record Date

Buyback Record Date: 19 Aug 2024

Tender Period:

Start Date - 23 Aug 2024 (Today)

Close Date - 29 Aug 2024

Obligation Date - 04 Sep 2024 

Settlement Date - 05 Sep 2024

Route – Tender 

Buyback Price: 380/- 

Current Market Price: 364/-

Market Cap: Rs 1,427 Crore 

Buyback Size: Rs 125.40 Crores (Representing less than 10% of the total paid up equity share capital and free reserves) 

Buyback Size: 33,00,000 shares (Representing 9.48% of O/s. shares) 

Retail Quota: 4,95,000 Shares

Last Cum Trading Date: 23 Aug 2024 (Today)

Ex-Date: 26 Aug 2024

Buyback Record Date: 26 Aug 2024

Buyback Schedule: Not Yet Announced

Ex-Dividend 26 Aug 2024 (Monday) 

Last date for Cum-Dividend Today 

Dhruv Consultancy Services Ltd 

Dividend Per Share Rs.0.25 

Previous day Closing Price – Rs. 141.25 

Manappuram Finance Ltd.

Dividend Per Share Rs.1 

Previous day Closing Price – Rs. 216.6 

Welcast Steels Ltd.

Dividend Per Share Rs.2.5 

Previous day Closing Price – Rs. 1436.7

(PROMOTER) MAHEN DISTRIBUTION LIMITED SOLD 🔴 1.31 LKH SHARES ( 0.30% STAKE) @ ₹ 3,155.55

SAMPRADA&NANHAMATI SINGH FAMILY TRUST ( PROMOTER ) SOLD 🔴 8.50 LKH SHARES (0.71 % STAKE ) @ ₹ 5,732.15

BUYERS 🟢

ICICI PRUDENTIAL BUYS 1.97 LKH SHARES ( 0.16 % STAKE )

TATA MUTUAL FUND BUYS 87 K SHARES ( 0.07 % STAKE ) 

SOCIETE GENERALE BUYS 46 K SHARES ( 0.03 % STAKE)

MORGAN STANLEY BUYS 1.33 LKH SHARES ( 0.11 % STAKE )

RELIANCE NIPPON LIFE INSURANCE COMPANY LIMITED BUYS 61 K SHARES ( 0.05 % STAKE )

KOTAK MAHINDRA MUTUAL FUND BUYS 61 K SHARES ( 0.05 % STAKE )

JM FINANCIAL MUTUAL FUND BUYS 17.5 K SHARES

ITI MUTUAL FUND BUYS 51 K SHARES ( 0.04 % STAKE )

GOLDMAN SACHS INVESTMENTS MAURITIUS I LIMITED BUYS 35 K SHARES

CITIGROUP BUYS 1.1 LKH SHARES ( 0.09 % STAKE)

BNP PARIBAS ARBITRAGE -NON ODI - 35 K SHARES

* TVS I-Qube now available in 5 variants, looking to launch another scooter in next 6 months

* Hero plans to launch affordable electric scooters in FY25 

* Expect E2W market share to rise to 13% by FY27 vs 5.4% now 

* Within autos, TVS Motors and M&M remain top picks 

* Ola’s market share slipped from 49% in June quarter to 33% 

* While it still remains #1 player, TVS and Bajaj gained 4-7% market share 

* Current market share for TVS at 19% vs 15% in Q125, while Bajaj now has 18% share vs 12% 

* Electric bike launch positive, currently motorcycles form 63% of volumes

HIGHDELL INVESTMENT LTD ( WARBURG PINCUS) SOLD 🔴 6.64 CR (6.45 % STAKE ) @ ₹ 539.10

KALYAN JEWELLERS BUYERS 

NOMURA FUND - 1.98 CR SHARES (1.92 % STAKE )

TCSBL AS TRUSTE FOR GLOBAL NEW GENERATION STOCK FUND- 74.19 LKH SHARES ( 0.71 % STAKE)

UNIVERSAL-INVESTMENT-GESELLSCHAFT MBH FOR UI-BA-FONDS - 7.14 LKH SHARES (0.06 % STAKE)

CITIGROUP GLOBAL MARKETS MAURITIUS PRIVATE LIMITED - 10.2 LKH SHARES ( 0.09 % STAKE)

FIDELITY FUNDS - 29.3 LKH SHARES (0.28 % STAKE )

GOVERNMENT OF SINGAPORE - 72.51 LKH SHARES ( 0.70 % STAKE )

HSBC MUTUAL FUND - 20.4 LKH SHARES ( 0.19 % STAKE)

INVESCO MUTUAL FUND A/C INVESCO TAX PLAN - 18.63 LKH SHARES ( 0.18 % STAKE )

MONETARY AUTHORITY OF SINGAPORE - 12 LKH SHARES ( 0.11 % STAKE)

MOTILAL OSWAL MUTUAL FUND - 92.74 LKH SHARES ( 0.89 % STAKE )

SUNDARAM MUTUAL FUND - 12.98 LKH SHARES ( 0.12 % STAKE )

TNTBC AS THE TRUSTEE OF NOMURA INDIA STOCK MOTHER FUND - 8.29 LKH SHARES

TINIESA - 13 K SHARES

THE MASTER TR BK OF JPN LIMITED AS TRSTEE OF FIDELITY ASIA EQTY MOTHER FD - 62 K SHARES

AEMV - 81 K SHARES

AVS-MF - 26.8 K SHARES

DAIWA HOUSE INDUSTRY PENSION FUND - 7.2 K SHARES

EMPLOYEES PROVIDENT FUND - 12.4 LKH SHARES

CHALLENGE FUNDS CHALLENGE PACIFIC EQUITY FUND - 67 K SHARES

Like long-term growth prospects & business models for Indian asset management industry

Think industry benefits from penetration-led growth & shifting household savings behavior 

O-P, HDFC AMC – TP Rs 4950 

Market Perform - Nippon AMC, TP Rs 680

Q1FY25 Review 

* Pharma index is up 11% since May 

* Pharma index at 44% premium to Nifty, avg us 31% premium 

* Strong Q1FY25 performance 

* Strong commentary by Lupin and Zydus on the back of launches 

* Forecasts raised for Lupin, Natco Pharma, Zydus, Glenmark Pharma; Biocon earning cut

O-P, TP Rs 3300

Retail AR Analysis 

FCF turned +ve driven by lower capex & WC savings 

Cost savings drive up Ebitda margin & decline in WC pushes up OPCF 

Bigger stores added in FY24; highest Ebitda/sq feet 

Depth of retail operations key priority

Indian equities are hot

13 out of 15 years of gains

Stay overweight

But identify 10 risks; on their own, none pose an immediate threat, but in aggregate they could derail the rally

10 Risks

Stress for banks is increasing

Banks are struggling to grow deposits

Private sector capex is sluggish

Weak and concentrated foreign investment

Unequal consumer growth

Risks to earnings

ESG

Sudden changes in regulations

Market concentration

Macro risks

Silver prices recovered from a setback to trade above 29 dollars as investors awaited Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole symposium later in the global day. Powell is widely expected to hint that the Fed will begin easing policy restrictions in September, with few details on the frequency and amount of the reductions. The most recent FOMC minutes, issued earlier this week, revealed that “the vast majority” of members believed it would be appropriate to loosen policy at the September meeting if data continued to reflect the forecast. Markets are pricing in approximately 100 basis points of total reductions this year. The dollar fell across the board, with the strongest selling observed against the yen as investors responded to Japanese inflation data and BOJ Governor Ueda’s testimony.

Gold prices edged higher as investors awaited U.S. Federal Reserve Chair Jerome Powell’s speech at Jackson Hole, Wyoming, for more clues on the magnitude of a potential September rate cut. The number of Americans filing new applications for unemployment benefits increased last week, yet the amount still indicated that the job market is gradually cooling. Traders have fully priced in Fed easing next month, with a 76% chance of a 25 basis point decrease, according to the CME FedWatch tool. Fed officials expressed support for commencing rate decreases next month as inflation has dropped and the labour market is cooling, though one indicated that he is not in a rush to loosen policy. SPDR Gold Trust stated its holdings increased by 0.13% on Thursday.

AI-powered equity investment platform InvestorAi has raised ₹80 crore in a Series A round from Ashish Kacholia, Founder of Lucky Investment Managers, and his associates.

The funds raised will be used to develop new AI products and scale up sales and operations in response to the huge market opportunity in India.

* AARTIIND

* ABFRL

* BSOFT

* CHAMBLFERT

* GNFC

* GRANULES

* HINDCOPPER

* IEX

* INDIACEM

* LICHSGFIN

* NATIONALUM

* PEL

* RBLBANK

* SUNTV

Anand Milk Unio: Jayan Mehta, MD

Don’t See A Price Hike In Milk & Other Products This Festive Season: Amul 

cholamandalam investment & finance company : D Arul Selvan, CFO

Expect FY25 Credit Cost To Be 1.2-1.3%; Same As FY24: Cholamandalam Invst & Fin 

CAMS: Ram Charan Sesharaman, CFO

Seeing A Narrative Of Continuous Growth In SIP On A Gross Basis: CAMS 

Mah Seamless: Kaushal Bengani, DGM

Maharashtra Seamless: ‘Oil Is The Most Profitable Sector...’, What’s The FY25 Business Outlook? 

Route Mobile: Gautam Badalia, Director

Organic Rev Growth In Q1FY25 Was The Best Amongst CPaaS Players Globally: Route Mobile 

REC: Vivek Kumar Dewangan, CMD

Maintain Market Share Of 20% In Thermal & Renewable Energy: REC 

Shriram Properties: Gopalakrishnan J, Exec Director & Group CFO 

Shriram Properties: Aiming At 2x Project Inventory In 18-24 Months, Co Sets Pushy Targets For Future

Star Health and Allied Insurance: Nilesh Kambli, CFO

Expect To Be Largest Health Insurance Book In Entire Industry In 3-4 Yrs: Star Health Insurance 

Titan Company: CK Venkataraman, MD

Titan Betting Big On The Luxury Space, Why Is Luxury Jewellery Segment Dazzling? 

Updater Service: Raghu Tangirala, Chairman & Managing Director

May Entail Investment Of ?30-40 Cr To Increase Stake In Athena To 100%: Updater Services 

Events today…

Results today…

19.30 U.S. Fed Chair Powell Speaks

19.30 U.S. New Home Sales (Expected: 628K versus Previous: 617k)

20.30 U.K. BOE Gov. Bailey Speaks

26/08/2024: U.K.. Market Holiday

(Rs. In Crs.)

Turnover: (NSE + BSE)

Cash Volume: 118638.86 + 9347.08 Total: 127985.94

F&O Volume: 606532.39 + 1203684.57 Total: 1810216.96

Provisional Cash

FII/FPI: NET BUY: 1371.79 

(18462.95 - 17091.16) 

DII: NET BUY: 2971.8 

(12239.7 - 9267.9)

BSE:+147(81053)

NSE:+41(24811)

BNF:+300(50985)

MID:+325(48643)

SML:+261(55598)

FII|FPI:+1371.79Cr

DII:+2971.80Cr

B.Crude: 76

Gold$:2497=INR: 71633

Silver: 85043

$/Rs: 83.95

7.10 : 2034 G-Sec: 6.84 (6.85 prv)

NSE PE: 23.05

VIX: 13.00 −0.33 (2.49%)

FIIs - FY24-25

MTD: (-32530.28Cr)

DIIs - FY24-25

MTD: +44184.36Cr

A surge in PB Fintech Ltd. has made the Indian stock the world’s best performer this year among major financial technology firms, as green shoots emerge in unsecured lending after a central bank crackdown.

The shares have risen about 110% in 2024, the most among companies with a minimum market value of $1 billion in the 52-member Solactive FinTech Index. The gauge, whose largest constituents are Intuit Inc. and Fiserv Inc., is up 15%.

The initial public offering of Orient Technologies’ IPO will close for public subscription. The IPO has been a grand success so far, as HNI and retail investors have shown an overwhelming response. The IPO was subscribed 16.96 times at the end of Day 2 on Thursday

Mumbai-based IT solutions provider Orient Technologies’ initial public offering consists of a fresh issue of up to ₹120 crore and an offer-for-sale (OFS) of up to 46 lakh shares by the promoter-selling shareholders. The price band has been determined at ₹195–206 a share. At the upper end of the price band, the IPO size would be ₹214.76 crore.

Domestic markets are expected to open with a negative bias on Friday amid mixed global cues. With all eyes on the US Federal Chief’s speech at the Jackson Hole symposium on Friday (around 1130 pm IST), exerts believe another lacklustre day at Dalal Street.

Though the US stocks slipped overnight ahead of Jerome Powell’s testimony, stocks across the Asia-Pacific region are up marginally.

Axis Mutual Fund expects the robust growth in the consumption across sectors to continue for the next 10 years amid growing aspiration in both rural and urban regions.

The growth in consumption sector will be driven by factors such as rising incomes, urbanisation and changing consumer preferences.

Wide range of industries such as consumer goods, retail, automobiles and services will be benefited aided by advancement in technology and e-commerce services.

Aditya Birla Capital Ltd (ABCL) is a diversified financial services group that operates in various businesses including non-banking finance, housing finance, life insurance, standalone health insurance, asset management, stock and securities broking, wealth services and asset reconstruction.

Post management change in July’22 with Vishakha Mulye at the helm as MD & CEO, ABCL has reimagined its business offering and initiated a tech transformation journey to leverage its about 35 million customer base and around 200k channel partners at the group level. 

The government’s ambitious plan to increase the share of natural gas in the energy mix from 5.7 per cent to 15 per cent by FY31F highlights the immense growth potential in the gas transmission business. The implementation of the National Gas Grid and the Unified Tariff Regime will further enhance gas accessibility, ensuring uniform transportation costs across regions.

Additionally, GAIL India is set to benefit from an expected tariff hike of ₹8-10/scm due to discrepancy in compression gas costs, enabling the company to charge a higher tariff. 

Block and bulk deals have gained momentum and sell-downs through such transactions in 2024 have risen over 88 per cent year to date to $51.4 billion, driven by soaring stock market valuations.

In the same period a year ago, sell-offs worth a little over $27 billion took place, according to data provided to businessline by Prime Database.

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

Here’s an interesting stock idea: The stock that we have today is EID Parry. The long-term trend is up. But the stock has been charting a sideways trend over the last two months. Now that it has rallied past a resistance within the range, the price is likely to go up further.