Share Market Highlights August 28, 2024: Sensex, Nifty end higher; IT sector leads gains amid anticipated US rate cut

Varun Beverages has acquired 10.91% of paid-up Equity Share Capital of Huoban Energy 11 Private Limited, a special purpose vehicle to supply solar power to consumers in the state of Maharashtra by investing Rs.2.90 crore.

Top gainers on the NSE 

LTIMindtree (6.31%), Wipro (3.71%), Divi’s Lab (2.71%), Bharti Airtel (2.05%), Infosys (1.99%) 

Top losers: 

Maruti (-1.34%), Asian Paints (-1.33%), Adani Enterprises (-1.27%), Shriram Finance (-1.17%), Britannia (-1.13%)

Equity benchmark Nifty rose marginally to hit a fresh lifetime high of 25,052 and Sensex gained over 70 points on Wednesday, helped by buying in IT stocks amid a largely positive global market.

Recent foreign fund inflows and lower global crude oil prices also strengthened investor sentiments, traders said.

Rising for the tenth straight session, the NSE Nifty went up by 34.60 points or 0.14 per cent to settle at a new closing high of 25,052.35. The benchmark surged 111.85 points or 0.44 per cent to hit a fresh intra-day all-time peak of 25,129.60.

Jyoti Structures has secured a contract for supply of towers for a 765 kV Transmission Line from a leading Private Developer for ₹105.57 crore.

State Bank of India (SBI), the country’s largest lender, raised ₹7,500 crores today at a coupon rate of 7.42% through its first Basel III compliant Tier 2 bond issuance for the current financial year. The bonds are issued for a tenor of 15 years, with call option after 10 years and each anniversary dates thereafter. 

Shares trade flat on the NSE at ₹810.40

Top gainers:

LTIMindtree (6.64%), Wipro (3.33%), Divi’s Lab (2.61%), IndusInd (2.56%), Infosys (2.03%)

Top losers:

Nestle India (-1.18%), Asian Paints (-1.17%), Adani Enterprises (-1.11%), Maruti (-1.06%), Hero Motocorp (-0.94%)

Butterfly Gandhimathi Appliances has received an order from the Office of The Assistant Commissioner of State Taxes, Patna Special, Bihar for the for the financial year 2019-20 imposing demand of ₹1,10,162/- (Tax ₹23,350/-, Interest ₹16,812/- and penalty of ₹70,000/-) under Goods and Service Tax Act, 2017

Shares fell 3.94% on the NSE, trading at ₹926.05

Motilal Oswal Asset Management Company (MOAMC) has today announced that its assets under management (AUM) has surpassed ₹1 lakh crore as on August 26, 2024.

Minda Corporation has been imposed a fine of ₹1,41,600 each by NSE and BSE under Regulation 18(1), 19 and 20 of the SEBI Listing Regulations for certain non-compliance. The application for waiver of the fine is filed by the Company with the Stock Exchanges. 

Stock trades at ₹587.05 on the NSE, down by 0.50%.

DEE Development Engineers has signed a Term Sheet with a Counter Party, the name of which can not be disclosed due to commercial issue. 

The Counter Party agrees to lease to DEE the pipe automation equipment for the performance of automated pipework fabrication along with a non-exclusive license to utilise. 

Both Parties shall enter into a Framework Agreement for the performance of automated pipework fabrication substantially on the terms and conditions set out in this Term Sheet. 

DEE Development Engineers shares trade flat on the NSE at ₹350.20

“Tanishq and De Beers forge strategic collaboration to boost India’s natural diamond jewellery market”

Titan shares trade at ₹3,542.35 on the NSE, down by 0.25%.

Antara Assisted Care Services Limited, a subsidiary of Max Group, has proudly inaugurated its first Care Home in Bengaluru.

Max India shares trade at ₹257.50 on the NSE, down by 0.21%.

Ahluwalia Contracts (India) Limited has secured an order from Bharat Aluminium Company Ltd (BALCO) for ₹350.35 crore

Stock rises 2.01% on the NSE, trading at ₹1,302.

Purvah Green Power Private Limited, a Subsidiary of CESC, has incorporated a Wholly Owned Subsidiary Company named Brightfuture Power Private Limited.

Shares declined 2.36% on the NSE, trading at ₹203.50

Benchmark indices Sensex and Nifty traded higher on Wednesday afternoon, with IT stocks leading the gains. The BSE Sensex was up 257.52 points or 0.32% at 81,969.28, while the Nifty50 rose 81.40 points or 0.33% to 25,099.15 as of 12:56 pm. Read 

Ohm International Mobility Ltd, U.K., step-down subsidiary of Ashok Leyland, has been voluntarily liquidated with effect from August 27, 2024.

Shares trade flat on the BSE at ₹262.20.

Advait Infratech Ltd has received an order for setting up manufacturing capacities of 200 MW of Alkaline Electrolysers in India under Strategic Interventions for Green Hydrogen Transition (SIGHT) Scheme (Tranche - 1I) by Solar Energy Corporation of India Limited (SECI).

Shares trade at the upper circuit ₹1,979.70, higher by 5% on the BSE.

Top gainers: LTI (6.54%), Wipro (3.48%), IndusInd (2.65%), Infosys (2.32%), Bajaj Auto (1.49%)

Top losers: Hero Motocorp(-1.40%), Asian Paints (-1.03%), Axis Bank (-0.84%), Nestle India (-0.77%), Britannia (-0.73%)

Of 3,922 stocks traded on the BSE at 12 noon on August 28, 2024, 2,135 advanced, against 1,670 stocks that declined; 117 stocks remained unchanged. While 317 stocks recorded a 52-week high, 13 hit a 52-week low. In addition, 290 stocks traded in the upper circuit and 198 stocks hit the lower circuit.

Mastek Limited, a digital engineering company, announced a strategic partnership with Onyx Health today, to accelerate healthcare data interoperability. The collaboration aims to expedite the adoption of Fast Healthcare Interoperability Resources (FHIR) standards and provide health plans with compliance solutions for CMS-9115 and CMS-0057 regulations.

DCX Systems Limited, an Indian aerospace and defense company, has announced a significant international contract worth $22.3 million (approximately ₹187.29 crore). The order, received from an overseas customer, is for the supply of electronic kits and is to be executed within 12 months.

Copper prices have risen well over the last two weeks. The Copper Futures contract (September) on the Multi Commodity Exchange (MCX) has surged from a low of ₹775 per kg. It touched a high of ₹820.35 on Tuesday and has come down sharply from there. The contract is currently trading at ₹813 per kg. Read more

Adani Enterprises Limited (AEL) announced today the launch of a public issue of non-convertible debentures (NCDs) to raise up to ₹800 crore. The base issue size is ₹400 crore, with an option to retain oversubscription up to another ₹400 crore.

GRM Overseas board has approved investment in Swmabhan Commerce Pvt Ltd, acquiring 44% equity stake through primary infusion and secondary buyouts. 

Shares decline 1.04% on the NSE, trading at ₹266.66

Crompton Greaves Consumer Electricals has received an order from the office of the Excise and Taxation Officer, Amabala Ward I, Haryana for the period from April’2019 to March’2020 imposing demand of ₹ 47,18,117/- (Tax ₹ 23,76,886, Interest ₹ 21,03,544/- and Penalty ₹ 2,37,886) under Goods and Services Tax Act, 2017.

Shares trade flat on the BSE at ₹468.55.

Shares of Orient Technologies Ltd on Wednesday listed with a premium of nearly 41 per cent against the issue price of ₹206.

The stock made its debut at ₹290, a jump of 40.77 per cent from the issue price on the BSE. Later, it surged 47.79 per cent to ₹304.45.

At the NSE, it is listed with a premium of 39.80 per cent at ₹288.

The company’s market valuation stood at ₹1,267.78 crore.

The initial public offer of Orient Technologies was subscribed 151.71 times on the final day of subscription on Friday.

The ₹215-crore initial share sale had a price range for the offer at ₹195-206 a share.

DCX Systems has received contract/order for US$ 22,323,200.00 (Equivalent to about ₹187.29 Crore at exchange rate of 1 USD = INR 83.90) from Overseas Customer.

DCX Systems shares trade flat on the BSE at ₹333.45

Mastek has announced partnership with Onyx Health, an innovator in healthcare interoperability solutions.

Mastek stock rises 1.80% on the BSE, trading at ₹3,052.25.

Fibreglass-reinforced polymer products supplier Aeron Composite Ltd has said it has raised Rs 15.17 crore from the anchor investors. (PTI)

The Ahmedabad-based company has allotted 12,14,000 equity shares to as many as 10 fund schemes at Rs 125 per share, the upper end of its IPO price band, Aeron Composite said in a statement.

India Ahead Venture Fund, Nav Capital VCC, AG Dynamic Funds Limited, Craft Emerging Market Fund PCC, Finavenue Capital Trust and Galaxy Noble Global Opportunities Fund PCC are among the anchor investors, it added.

The company’s Initial Public Offering (IPO) to raise a total of Rs 56.10 crore opened for subscription on the NSE Emerge platform of the National Stock Exchange. The issue will close for subscription on August 30. Investors can bid for a minimum of 1,000 shares and in multiples thereof.

The company has fixed the price band at Rs 121-125 per share for public offer which is entirely a fresh issue of 44.88 lakh equity shares. 

Crompton Greaves Consumer Electricals has received an order from the office of the Excise and Taxation Officer, Amabala Ward I, Haryana for the period from April’2019 to March’2020 imposing demand of ₹47,18,117/- (Tax ₹ 23,76,886, Interest ₹ 21,03,544/- and Penalty ₹ 2,37,886) under Goods and Services Tax Act, 2017.

Shares trade flat on the BSE at ₹468.55.

GRM Overseas board has approved investment in Swmabhan Commerce Pvt Ltd, acquiring 44% equity stake through primary infusion and secondary buyouts. 

Shares decline 1.04% on the NSE, trading at ₹266.66

* Lists at Rs 290 on BSE vs issue price of Rs 206

* Lists at a premium of 40.8% on BSE

* Lists at Rs 288 on NSE vs issue price of Rs 206

* Lists at a premium of 39.8% on NSE

Dhariwalcorp Ltd is expanding operations with the establishment of a processing unit in Jodhpur, Rajasthan. Shares rise 1.69% on the NSE, trading at ₹156

Mistral Solutions Pvt. Ltd., an AXISCADES Company, has announced the delivery and commissioning of a modern Mobile Communication Office Vehicle (MCOV) for the Gujarat State Police.

Stock trades flat on the NSE at ₹652.85.

NBCC (India) shares gain 7% in early trade on Wednesday. Board to consider bonus issue on Aug 31. Track share price movement here

Indian stock markets opened on a mixed note Wednesday, with the Nifty50 index hovering close to its all-time high amid global cues and anticipation of key economic data. The Sensex opened at 81,779.84, slightly higher than its previous close of 81,711.76, while the Nifty50 started the day at 25,030.80, marginally above Tuesday’s close of 25,017.75.

1. Gensol: ENTRANCE INTO US MARKET

Scorpius Trackers Inc., a subsidiary of Scorpius India, has entered the U.S. market, launching its first office in California. The company will debut its advanced solar tracker technology at the RE+ Conference in Anaheim from September 9-12, 2024, with further showcases planned in Austin and San Diego. The U.S. solar tracker market, the largest in the world with an annual deployment of over 25,000 MW, is growing at a CAGR of over 20%. Scorpius aims to supply over 2,000 MW annually by 2028, leveraging its decade of experience and existing contracts in India, Africa, Japan, and the Middle East.

2. Kilburn Engineering: FUND RAISE

Board considered and approved the issuance of 22.5L equity shares and 48L warrants at INR 425/each, aggregating to INR 300 Cr. Subscribers include Promoter Group, COEUS Global Opportunities Fund, Tusk Investment Limited. 

3. ⁠Insolation Energy: ORDER

Company has bagged purchase order worth INR 34.2 Cr for the supply of 25 MW Solar PV Modules (Supply 545WP SPV Panels), from Rays Green Energy Manufacturing Private Limited, needs to be completed within FY25.

4. ⁠Datamatics: PARTNERSHIP

Company has partnered with Microsoft to develop its own copilot solutions focusing on process automation to accelerate business transformation for organizations. Company has launched a Partner On-boarding Copilot available on the Microsoft Teams store which integrates Azure OpenAI with Datamatics Intelligent Automation Platform. With this new feather in the cap, Datamatics was recognized as one of the ISVs building an ISV custom copilot solution and they were featured in the Microsoft Build 2024 conference held in Seattle, USA, along with a prominent mention in the blog by Merav Davidson, Vice President, Industry AI from Microsoft. Datamatics has also been highlighted by Microsoft as part of its “AI First Movers,” series which recognizes companies for their impactful use of AI at scale.

5. ⁠KPI Green: PROMOTER BUYING

Farukbhai Gulambhai Patel (Promoter) bought 5.5k shares at INR 909/share, aggregating to INR 50L.

Adani Enterprises plans to raise up to ₹8 billion rupees ($95.3 million), through its debut public issue of bonds, the company said on Wednesday. The issue, which has a base size and greenshoe option of 4 billion rupees each, will open for subscription on September 4 and will close on September 17, the company said in an exchange filing.

The Adani Enterprises board has approved and adopted the prospectus of public issue of up to 80,00,000 secured, rated, listed, redeemable, non–convertible debentures of face value of ₹ 1,000 each, amounting to ₹400 crore with an option to retain over-subscription up to ₹400 crore aggregating up to ₹800 crore. 

Adani Enterprises stock trades at ₹3,043.15 on the NSE, down 0.78%.

Infibeam Avenues Ltd has secured two major contracts that will bring its cutting-edge Theia Vision AI technology to leading regional hospitals and an international gas station chain. 

Stock rises 2.43% on the NSE, trading at ₹31.58

Zomato has informed the exchanges regarding the share purchase agreement with One 97 Communications Ltd, the company has completed the acquisition of OTPL and WEPL on August 27, 2024..

Zomato shares trade flat on the NSE at ₹256.19

Paytm stock rises 1.36% on the NSE, at ₹552.55

Route – Tender

Buyback Price: 12,000/- 

Current Market Price: 9,777/-

Market Cap: Rs 12,716 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 

Close Date - 28 Aug 2024 (Today)

Obligation Date - 03 Sep 2024 

Settlement Date - 04 Sep 2024

Shares of Orient Technologies will be listed at the bourses today after blockbuster IPO. The company has fixed the IPO price at ₹206, at the upper end of the price band ₹195–206. The initial public offering of Orient Technologies witnessed a tremendous response from all category of investors, as the issue was subscribed 151.71 times. 

The ₹601-crore initial public offering of New Delhi-based Ecos (India) Mobility & Hospitality opens today. The IPO will remain open till August 30. The IPO is entirely an offer-for-sale (OFS) of 1.8 crore equity shares by the existing shareholders, with a price range of ₹318-334. Rajesh Loomba and Aditya Loomba, who are part of the promoter group, will sell up to 99 lakh and 81 lakh shares, respectively in the IPO.

Gold prices were little altered, but they remained near a record high set last week on expectations of immediate US rate cuts and safe-haven demand spurred by the Middle East conflict. Members of the boards of directors governing the Federal Reserve banks in Chicago and New York voted to decrease the central bank’s discount rate by a quarter percentage point in July, according to meeting minutes. According to the CME FedWatch tool, traders have fully priced in next month’s Fed easing, with a 67% chance of a 25-basis-point decrease and a 33% possibility of a larger 50-basis-point reduction. In other news, consumer confidence in the United States reached a six-month high in August, buoyed by optimism about the economy.

Key economic data slated for release includes M3 Money Supply y/y, Private Loans y/y from Euro Zone and Crude Oil Inventories from US Zone.

The domestic markets are likely to open on a flat note with negative bias on Wednesday. Amid a lack of triggers, analysts expect stock and sector specific action to continue. Though global sentiment is negative, the return of foreign portfolio investors as buyers, especially after the Fed Chair’s rate cut speech, will support the market, they added. Nifty futures at Gift City is ruling around 25,000, signalling a weak opening.

Ex-Dividend 29 Aug 2024 (Tomorrow)

Last date for Cum-Dividend Today

AMJ Land Holdings Ltd

Dividend Per Share Rs.0.2

Previous day Closing Price – Rs. 56.7 

Clean Science And Technology Ltd 

Dividend Per Share Rs.3 

Previous day Closing Price – Rs. 1527.3 

Honda India Power Products Ltd 

Dividend Per Share Rs.17.5\ 

Previous day Closing Price – Rs. 3742.35\ 

I G Petrochemicals Ltd. 

Dividend Per Share Rs.7.5 

Previous day Closing Price – Rs. 688.95 

Multibase India Ltd.\ 

Dividend Per Share Rs.3\ 

Previous day Closing Price – Rs. 293.3 

Pudumjee Paper Products Ltd\ 

Dividend Per Share Rs.0.6\ 

Previous day Closing Price – Rs. 121.15\ 

Radiant Cash Management Services Ltd

Dividend Per Share Rs.2.5 

Previous day Closing Price – Rs. 86.98\ 

Jamna Auto Industries Ltd 

Dividend Per Share Rs.1.3\ \

Previous day Closing Price – Rs. 124.9

Symbol: ORIENTTECH 

Series: Equity “T Group” 

BSE Code: 544235 

ISIN: INE0PPK01015 

Face Value: Rs 10/- 

Issued Price: Rs 206/- per share

Jefferies on Zydus Life: Upgrade to Buy on Company, raise target price at Rs 1450/Sh (Positive) 

Bernstein on DMart: Initiate Outperform on Company, target price at Rs 6300/Sh (Positive) 

Bernstein on TRENT: Initiate Outperform on Company, target price at Rs 8100/Sh (Positive) 

Bernstein on Jubilant Food: Initiate Outperform on Company, target price at Rs 800/Sh (Positive) 

Bernstein on Devyani Int: Initiate Outperform on Company, target price at Rs 210/Sh (Positive) 

Bernstein on Sapphire: Initiate Market perform on Company, target price at Rs 1700/Sh (Positive) 

UBS on Bharti Airtel: Maintain Neutral on Company, raise target price at Rs 1595/Sh (Positive) 

UBS on Vodafone: Maintain Buy on Company, raise target price at Rs 19/Sh (Positive) 

UBS on Indus Towers: Maintain Neutral on Company, raise target price at Rs 440/Sh (Positive) 

CLSA on Indusind Bank: Maintain Outperform on Bank, target price at Rs 1800/Sh (Positive) 

MOSL on Blue Dart: Maintain Buy on Company, target price at Rs 9500/Sh (Positive) 

Citi on L&T FH: Maintain Buy on Company, target price at Rs 221/Sh (Positive) 

NB on USL: Upgrade to Buy on Company, raise target price at Rs 1725/Sh (Positive) 

Bernstein on Financials: HDFCB, IndusInd, Axis Bank as Outperform; ICICI, KMB and SBI as Market-Perform (Positive) 

Goldman Sachs on Autos: August 2024 (3M rolled) indicates that 2Ws grew +9% YoY, while PVs remained flat YoY. M&M and Ashok Ley market share improved (Positive) 

Bernstein on AB Fashion: Initiate Underperform on Company, target price at Rs 270/Sh (Neutral) 

Bernstein on West Life: Initiate Underperform on Company, target price at Rs 700/Sh (Neutral) 

Axis on Indigo: Downgrade to Add on Company, raise target price at Rs 5100/Sh (Neutral) 

Nuvama on LTTS: Maintain Hold on Company, raise target price at Rs 5200/Sh (Neutral) 

Emkay on Zee Ent: Maintain Reduce on Company, target price at Rs 150/Sh (Neutral) 

Citi on Zee Ent: Maintain Sell on Company, target price at Rs 137/Sh (Neutral) 

Bernstein on Kotak Mahindra Bank: See KMB as the worst placed (Negative)

Bernstein initiate coverage on 7 such stocks in Retail and Restaurant sectors with 4 Outperform and 2 Underperform ideas.

Bernstein rate DMart, Trent, Jubilant & Devyani Outperform, ABFRL & Westlife as Underperform and Sapphire as Market-Perform.

Jio Leasing Services Ltd (JLSL), a wholly-owned subsidiary of Jio Financial Services, has invested ₹67.50 crore in Reliance International Leasing IFSC Ltd. It has invested 6.75 crore 8.1 per cent cumulative optionally convertible preference shares of ₹10 each of Reliance International Leasing IFSC Ltd (RILIL) (a 50:50 joint venture between JLSL and Reliance Strategic Business Ventures Ltd (a wholly-owned subsidiary of Reliance Industries Limited), for cash at par, aggregating ₹67.50 crore, Jio Financial Services said in a regulatory filing. The investment is made to fund the business operations of RILIL, it said. Read more

Prudential Public Limited Company (Pre market) (Sector- Financial)

Li Auto Inc. (Pre market) (Sector- Automobiles)

The J.M. Smucker Company (Pre market) (Sector- FMCG)

Chewy, Inc. (Pre market) (Sector- Retailer)

Donaldson Company, Inc. (Pre market) (Sector- Miscellaneous)

NVIDIA Corporation (Post market) (Sector- Technology)

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

CrowdStrike Holdings, Inc. (Post market) (Sector- Technology)

HP Inc. (Post market) (Sector- Technology)

Veeva Systems Inc. (Post market) (Sector- Healthcare)

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

Pure Storage, Inc. (Post market) (Sector- Technology)

The Cooper Companies, Inc. (Post market) (Sector- Healthcare)

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

Wipro has announced the expansion of its collaboration with Dell to bring the Dell AI Factory to Wipro’s Enterprise AI-Ready Platform.

Bank of Baroda (BoB) has raised ₹5,000 crore through 10 year infrastructure bonds at a coupon rate of 7.30 per cent. Read more

Two Tata group companies — Tata Technologies and Trent — were in focus on Tuesday as block deals were seen on both counters. Around 3 per cent of equity changed hands in Tata Technologies while Trent saw 0.2 per cent equity being traded in the block deal window of the National Stock Exchange.

In a significant development, automakers have agreed to offer discounts of 1.5 to 3 per cent, or up to ₹25,000, to customers who purchase a new vehicle after scrapping the old vehicles. The announcement came after a meeting between automakers and Minister of Road Transport and Highways, Nitin Gadkari, on Tuesday.

Markets regulator SEBI on Tuesday barred Rana Sugars, its promoters and officials from securities markets for two years and slapped ₹63 crore fines on them on charges of diversion of funds. 

https://play.google.com/store/apps/details?id=com.intelegain.rb

Recent Interview...

As of 19:05 PM Tuesday 27 August 2024

Awfis Space Sol: Amit Ramani, CMD

Focussed On Operating Efficiency And Leverage: Awfis Space Solutions

https://www.youtube.com/watch?v=TxLe9HlzZKY

Bansal Wire Ind: Pranav Bansal, MD&CEO

Expect Increase In Market Share In Low Carbon Wires: Bansal Wire Industries

https://www.youtube.com/watch?v=gGFUO-BfjLk

CSB Bank: Pralay Mondal, MD & CEO

Expect Net Interest Margin To Be At 4.5% For FY25: CSB Bank

https://www.youtube.com/watch?v=xVFoKGwRu9g

J&K Bank: Baldev Prakash, MD CEO

Have Been Seeing Deposit Accretion Since July: Jammu & Kashmir Bank

https://www.youtube.com/watch?v=Une_WXCRSXg

KEI Industries: Anil Gupta, CMD

KEI Inds: ‘The Major Demand Coming From Solar Power Projects’, Domestic Demand Scenario Favourable?

https://www.youtube.com/watch?v=k1XZkSPtWyQ

KEC Intl: Vimal Kejriwal, MD and CEO

How Is KEC International Managing Labor Shortages and Revenue Growth Amidst Strong Order Intake

https://www.youtube.com/watch?v=AbHzwcGEcfE

NCC: Neerad Sharma, Hd-Strategy

NCC Ltd: Taking Stock Of Execution Amid Labour Shortage, ?20-22K Cr Order Inflow Achievable In FY25?

https://www.youtube.com/watch?v=Q6EiEq9M7xE

New India Assur: Girija Subramanian, CMD

Expect Health & Motor Segment To Grow Over 12% In FY25: New India Assurance

https://www.youtube.com/watch?v=q3TZklnbMLo

Poly Medicure: Himanshu Baid, MD

Aim For $15-20 m In Terms Of Sales In The US In The Next 3-5 Years: Poly Medicure

https://www.youtube.com/watch?v=UTS1ajlktz8

Vinati Org: Vinati Saraf Mutreja, MD

Stick To Guidance Of 20% Topline Growth & 26-27% EBITDA Margin In FY25: Vinati Organics

https://www.youtube.com/watch?v=RVUGTFAHEzQ

Events today…

https://www.researchbytes.com/Default.aspx?cc=event

Results today…

https://www.researchbytes.com/Default.aspx?cc=result

Replays available at www.researchbytes.com

27 August 2024 (Rs. In Crs.)

Turnover: (NSE + BSE)

Cash Volume: 115234.42 + 9883.35 Total: 125117.77

F&O Volume: 709859.99 + 195692.9 Total: 905552.89

Provisional Cash

FII/FPI: NET BUY: +1503.76 

(15002.15 - 13498.39) 

DII: NET SELL: -604.08 

(12159.6 - 12763.68)

* Sensex: 81711.76(+13.65) 

* Nifty 50: 25017.75(+7.15) 

* Nifty bank: 51278.75 (+130.65) 

Nifty top 5 Gainers:

* SBI life: 1,838.95 (+42.70) 

* Shriram Finance: 3,229.45 (+67.30) 

* Maruti Suzuki: 12,496.90 (+253.10) 

* Bajaj Finserv: 1,719.00 (+32.80) 

* HDFC Life: 739.55 (+13.90) 

Nifty top 5 losers:

* Titan: 3,551.25 (-78.95) 

* JSW Steel: 944.00 (-19.50 ) 

* HUL: 2,766.90( -54.25 ) 

* Tata Motors: 1,077.25 (-15.15 ) 

* Grasim: 2,699.90 (-36.70)

The National Stock Exchange (NSE) on Tuesday sought fresh approval for its initial public offering (IPO) by filing an application for a no-objection certificate with the Securities and Exchange Board of India (SEBI).

LG Electronics Inc. is considering an initial public offering for its India business, tapping a booming stock market to help hit a target of $75 billion in electronics revenue by 2030.

FMCG major Emami said on Tuesday that its Bangladesh business is currently being impacted, but the company doesn’t expect any market share loss in that country going forward.

Mangalore Refinery and Petrochemicals Ltd (MRPL) has announced the commissioning of its new marketing terminal in Bengaluru.

Bharti Airtel (Airtel) on Tuesday said that it will close its music app – Wynk Music — as it has tied up with Apple to bring exclusive offers of Apple TV+ and Apple Music to customers in India by the end of this year.

Zee Entertainment Enterprises and Sony Pictures Network India withdrew all legal cases against each other on Tuesday after arriving at a comprehensive non cash settlement to resolve all disputes related to the merger.

The upmove has gained momentum for Century Textiles & Industries. The stock has surged over 5 per cent on Tuesday breaking out of a key resistance at ₹2,420, which has been capping the upside since July this year. That leaves the outlook bullish. 

Insurance behemoth LIC is understood to have approached insurance regulator IRDAI, seeking a review of final Surrender Value Guidelines issued in June 2024.

Vaccine-maker Serum Institute of India is working on a vaccine against mpox, that was recently declared as a ‘public health emergency of international concern’ (PHEIC), by the World Health Organisation.

Bharat Biotech International Ltd (BBIL) launched its Oral Cholera Vaccine (OCV), Hillchol, on Monday. It was developed under licence from Hilleman Laboratories to combat cholera. BBIL developed the vaccine under licence from Hilleman Laboratories, which was funded by Merck, USA, and Wellcome Trust, UK. Read more

The Association of Mutual Funds in India (AMFI) has put out minimum standards to prevent front running and market abuse by asset management companies (AMCs). Read more