Stock Market Highlights August 07, 2023: Sensex settles 232 points higher, Nifty closes at 19,597

The rupee gained 5 paise to close at 82.76 (provisional) against the US dollar on Monday, tracking positive domestic equities.

However, sustained foreign fund outflows and a stronger American currency in the overseas market dented investor sentiments, forex traders said.

At the interbank foreign exchange market, the local unit opened at 82.73 against the US dollar and moved in a range of 82.71 to 82.77 in day trade.

The rupee finally settled 5 paise higher at 82.76 (provisional), against the previous close of 82.81 on Friday. Read more

The benchmark equity indices ended with gains on Monday, extending the previous day’s rally, unfazed by a weak trend in global markets amid buying in Mahindra & Mahindra, Infosys, Tata Consultancy Services and Reliance Industries.

However, continuous foreign fund outflows prevented the markets from registering a sharp rally.

The 30-share BSE Sensex climbed 232.23 points or 0.35 per cent to settle at 65,953.48. During the day, it jumped 346.65 points or 0.52 per cent to 66,067.90.

The NSE Nifty advanced 80.30 points or 0.41 per cent to end at 19,597.30. Read more

Maize and moong sowing in Gujarat fell by one per cent and 15 per cent as of Monday to 281,557 hectares and 60,195 hectares against 284,848 hectares and 70,407 hectares logged in the same period last year.

Groundnut sowing was also down by four per cent at 1,625,255 hectares (1,693,587 hectares), a report by Kedia Commodities said.

Castor and soyabean sowing was up by about 13 per cent and 22 per cent at 346,842 hectares (305,931 hectares) and 265,228 hectares (216,579 hectares).

Cotton and guar seed sowing increased 6 per cent and 13 per cent to 2,676,108 hectares (2,528,354 hectares) and 95,219 hectares (84,113 hectares).

Ujjivan Financial Services reported a consolidated net profit for the quarter ended June 30, 2023, at ₹298.41 crore, as against ₹295.27 crore. The stock declined by 1.95 per cent on the NSE, and closed at ₹480.05 per share.

Shares of Caplin Point fell nearly 5 per cent on during the day to trade at ₹906.55 on NSE after the company’s Q1 results. The company today posted a 21% year-on-year increase in net profit for the first quarter at ₹104 crore.

Caplin Point shares are witnessing profit booking after the stock rallied nearly 15 per cent in the last one month.

​Sun Pharma Advanced Research Company​’s stock falls by 2.48% on the NSE, trading at ₹235.60. The company reported its net loss for the quarter ended June 30, 2023, at ₹95.35 crore as against ₹82.35 crore in the previous year.

Caplin Point Laboratories has reported a 21 per cent year-on-year increase in net profit at ₹104 crore for Q1FY24. The Chennai-based pharma company posted a net profit of ₹86 crore for the same quarter of previous fiscal.

Barbeque Nation Hospitality reported that its consolidated net loss for the quarter ended June 30, 2023. was at ₹4.05 crore as against the profit of ₹16 crore in the previous year. The stock tumbled 5.78% on the NSE, trading at ₹679.70.

Major gainers on the NSE at 3 pm are:

• Divi’s Laboratories (4.29%)
• M&M (4.28%)
• SBI Life Insurance (2.78%)
• Adani Ports (2.28%)
• LTIMindtree (2.16%)

Major losers

• Britannia (-3.07%)
• SBI (-0.99%)
• Bajaj Auto (-0.98%)
• Tata Motors (-0.91%)
• Kotak Bank (-0.44%)

Stocks advanced on BSE at 3 pm on August 7 were 2,019 against 1,631 stocks that declined. Total stocks traded were 3,857. The number of stocks that recorded a 52-week high 295, and those that hit a 52-week low was 56.

Ganesha Ecosphere stock jumps 10.05% on the NSE, trading at ₹1,091.50. Its whollyowned subsidiary, Ganesha Ecopet Private Ltd, had received an order from Moon Beverages, for supply of rPET chips.

Voltamp Transformers’ stock rises by 2.54% on the NSE, trading at Rs 4,743.80. The company reported its net profit for the quarter ended June 30, 2023, at Rs 50.77 crore as against Rs 26.68 crore in the previous year.

Rategain Travel Technologies reported its consolidated net profit for the quarter ended June 30, 2023, at ₹24.9 crore as against ₹8.4 crore in the previous year.

The stock jumps 7.20% on the NSE, trading at ₹497.

Gujarat Narmada Valley Fertilizers and Chemicals reported its consolidated net profit for the quarter ended June 30, 2023, stood at Rs 88 crore as against Rs 572 crore in the previous year. The stock drops by 5.03% on the NSE, trading at Rs 556.30.

Shares of Madhav Infra jumped 4.85 per cent at Rs 6.70 on receiving order worth Rs 117 crore.

With easing of Raw Material cost pressure, Emami Ltd witnessed an expansion of gross margins by 240 basis points at 65.4% during the quarter. Despite investments in brand building and integration of subsidiaries which are in investment phase, EBIDTA at ₹190 crore grew by 10%, while margins at 23% expanding by 60 basis points. Profit after tax at ₹138 crore grew by 87% with PAT margins at 16.7% expanded by 720 basis points.

The company also concluded buyback of its shares amounting to ₹185.3 cr (excluding brokerage, taxes & levies). Following the buyback, share capital reduced from 44.12 cr to 43.65 crore equity shares and promoter stake increased from 54.27% to 54.84%.

Coromandel International arm Daksha bags drone orders worth Rs 165 crore. The company will supply 200 drones to the defence sector and 400 drones for IFFCO.

Veranda Learning Solutions is teaming up with Smart Bridge Educational Services. “We have adopted a project-based learning and demand-driven talent creation model for our virtual internship program offered through SmartInternz,” the company informed stock exchanges. The stock gained 0.53% on the NSE, trading at ₹216.80.

Keystone Realtors, which sells houses under the ‘Rustomjee’ brand, reported a net profit of Rs 47 crore in the June quarter, 9.5 times its year ago number, while revenue rose 61 per cent to Rs 272 crore. Shares of the company were up 10 per cent at Rs 628.80 on the NSE.

Tata Motors has joined hands with South Indian Bank to extend an exclusive Electric Vehicle Dealer Financing Program and offer comprehensive retail financing solutions to all customers.

EIH Associated Hotels’ stock declines by 3.51% on the NSE, trading at ₹474.95. The company’s net profit for the quarter ended June 30, 2023, stood at ₹7.24 crore as against ₹5.68 crore in the previous year.

Nomura Singapore Ltd. ODI has hiked its stake in Mishtann Foods Ltd. from 1.28% to 2.19%. The stock inches up by 0.99% on the BSE, trading at ₹13.29.

In June 2023, fresh lending rates dropped while fresh deposit rates increased. Meanwhile, rates on outstanding business continued to climb.

The weighted average lending rate (WALR) on fresh rupee loans of scheduled commercial banks (SCBs) declined sequentially by 7.5 basis points (bps) to 9.19% in June 2023 from 9.27% in May 2023, while the WALR on outstanding rupee loans of SCBs increased sequentially by 4 bps from 9.78% in May 2023 to 9.82% in June 2023.

The weighted average domestic term deposit rate (WADTDR) on fresh rupee term deposits of SCBs reduced by 4 bps from 6.36% in May 2023 to 6.32% in June 2023. Meanwhile, WADTDR on outstanding rupee term deposits of SCBs increased by 10 bps from 6.37% in May 2023 to 6.47% in June 2023.

PVBs & PSBs both saw a divergence in fresh lending and deposit rates, wherein PVBs saw an increase in lending rates and a decline in deposit rates, however, an opposite trend was observed for PSBs.

One-year median Marginal Cost of Fund based Lending Rate (MCLR) of SCBs decreased from 8.65% in June 2023 to 8.63% in July 2023.

Momentum in stock of IRFC continues after being one of the best performers last week. The stock is up 6 per cent to Rs 47.85. The stock had gained 18 per cent in the previous week after Indian Railways announced its plans to spend Rs 25,000 crore in purchasing wagons. IRFC is the dedicated financing arm of the Indian Railways and will benefit by funding these orders.

GHCL Ltd’s net profit for the quarter ended June 30, 2023 stood at ₹426.25 crore as against ₹358.70 crore in the previous year. The stock rises 1.17% on the NSE, trading at ₹551.

Relaxo Footwears has announced that an additional capacity of 50,000 pairs per day has been added at its Bhiwadi unit. With this, the company’s total production capacity now stands at 10.50 lakh pairs per day.

National Bank of Umm Al Qaiwain (NBQ) has chosen Intellect Digital Engagement Platform (iDEP), a digital experience banking platform by Intellect Global Consumer Banking (iGCB) for its retail, SME and corporate clients. NBQ is a public shareholding company incorporated in Umm Al Qaiwain. The stock of Intellect Design Arena rises by 1.50% on the NSE, trading at ₹702.35.

VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services:

MPC will be concerned about the high vegetable inflation prevailing now. But since this is due to seasonal factors monetary policy cannot do anything about it. More importantly, there is strong growth momentum in the economy now and the MPC is unlikely to do anything that upsets the growth apple cart. So, the rates and stance are likely to remain unchanged.

Investors should be focussed on the growth and earnings prospects of different sectors and companies within sectors. Banking, capital goods and autos are on strong wicket.

Ramco Cements has reported a drop in its net profit at Rs.79 crore for June 2023 quarter when compared with Rs.112 crore in the year-ago quarter, due to higher cost of production.

Its total income stood at Rs.2249 crore in Q1FY24, up from Rs.1779 cr in Q1 of FY23.

Total expenses stood at Rs.2141 crore (Rs.1626 crore). The stock declined 2.49% during the day on the NSE at ₹854.75.

India Cements reported a net loss of Rs.75 cr in Q1 of this fiscal as against a net profit of Rs.76 crore in the same period last year due to cost pressures. While its total income stood at Rs.1400 crore in Q1FY24, total expenses were higher at Rs. 1499 crore.

The stock fell 4.27% on the NSE, and was trading at ₹215.15.

Sinclairs Hotels has announced that is Board of Directors will meet on Aug 10 to consider buyback of shares.

Waaree Energies, a leading player in the solar energy sector, has raised equity funding of ₹1,000 crore. The investment was led by ValueQuest, a company with strategic focus on sustainable and progressive ventures.

Waaree Energies had earlier raised a primary round of ₹1,040 crore from a clutch of investors including family offices and high networth investors.

The current round of funding will be used for another 6 GW of capacity expansion, in addition to the existing capacity of 12 GW. The additional 6 GW capacity is intended for the manufacturing of solar ingots and wafers, cells and modules.

Europe markets trade in the red on open with key indices across Germany, UK, France and Italy trading in the range of -15 to -40 bps. In recent days the upward pressure on bond yields due to upcoming high issuances and higher for longer message from Central Bankers have tempered investor enthusiasm in equities in developed markets. After initially rallying on jobs data on Friday, US indices gave up all the gains and closed in the red at the low point of the day.

Marksans Pharma informed the exchanges that the USFDA has completed and closed the Post-marketing Adverse Drug Experience (PAD E) inspection at the company’s Verna manufacturing facility, with two observations.

The stock rises by 2.61% on the NSE, trading at ₹117.90.

Harmony Organics Pvt Ltd, a Pune-based Specialty Chemicals company has raised ₹225 crore from Piramal Alternatives, the fund management business of the Piramal Group, to tap into growing global opportunities in the fragrance & flavor industry. The funds raised from Piramal Alternatives are in the form of convertible securities.

Established in 1976, the company is the largest manufacturer of Phenyl Ethyl Alcohol (PEA) in India and the second largest in the world – their aroma chemicals are used for the fragrance & flavor industry. The company’s flagship products are PEA & Cinnamic Aldehyde; with an installed production capacity of 20,000 tonnes per year at its factory in Pune.

The company has developed derivatives of PEA, Cinnamic Aldehyde, and other value-added specialty chemicals to cater to the requirements of the F&F industry.

EaseMyTrip.com has launched its first offline retail store in Ludhiana, Punjab. However, the stock declines by 0.74% on the NSE, trading at ₹40.15.

Coromandel International’s subsidiary, Dhaksha Unmanned Systems, a drone manufacturer, has bagged an order worth ₹165 crore to supply 200 medium-altitude logistics drones and accessories to the Indian Army.

Coromandel International stock inches up by 0.08% on the NSE, trading at ₹1,043.50.

Copper futures on the Multi Commodity Exchange (MCX), which bounced off the support at ₹720 in the last week of July, broke out of the resistance at ₹745 last week.

But there was no follow through rally post breakout. The contract made a high of ₹757.75 last Tuesday and saw a decline. It closed at ₹740.15 last week.

The August futures of copper is currently trading at around ₹738 as the support at ₹734 has been preventing any decline below this level. Until this support holds, there is a good chance for the contract to resume the rally.

Read more.

Recommendations of fund houses: BHEL

• Antique: Maintain Buy on Company, target price at Rs 110/sh (Positive)
• CLSA: Maintain Sell on Company, target price at Rs 78/sh (Neutral)

Recommendations of fund houses: Delhivery

• Morgan Stanley: Maintain Overweight on Company, target price at Rs 415/sh (Positive)
• CLSA: Maintain Buy on Company, target price at Rs 550/sh (Positive)
• Bernstein: Maintain Buy on Company, target price at Rs 460/sh (Positive)

Recommendations of fund houses: Bank of Baroda

• Credit Suisse: Maintain Buy on Bank, target price at Rs 225/sh (Neutral)
• CLSA: Maintain Buy on Bank, target price at Rs 225/sh (Neutral)
• Morgan Stanley: Maintain Overweight on Bank, target price at Rs 235/sh (Neutral)
• JP Morgan: Maintain Overweight on Bank, target price at Rs 230/sh (Neutral)

Major gainers on the NSE at 12:06 pm are:

• M&M (3.26%)
• Divi’s Laboratories (2.93%)
• Sun Pharma (1.72%)
• Hindalco (1.48%)
• SBI Life Insurance (1.36%)

Major losers:

• Britannia (-3.39%)
• Nestle India (-1.08%)
• Bajaj Finance (-0.82%)
• SBI (-0.51%)
• Bajaj Auto (-0.49%)

Stocks advanced on BSE (at 12 noon on August 7) were 1,977 against 1,537 stocks that declined. Total stocks traded were 3,729. The number of stocks that recorded a 52-week high 263, and those that hit a 52-week low was 46.

Recommendations of fund houses: State Bank of India

Goldman Sachs: Maintain Buy on Bank, target price at Rs 748/sh (Neutral)

Citi: Maintain Buy on Bank, target price at Rs 710/sh (Neutral)

Nomura: Maintain Buy on Bank, target price at Rs 655/sh (Neutral)

Bernstein: Maintain Outperform on Bank, target price at Rs 700/sh (Neutral)

Macquarie: Maintain Outperform on Bank, target price at Rs 720/sh (Neutral)

Morgan Stanley: Maintain Equal weight on Bank, cut target price at Rs 670/sh (Neutral)

JP Morgan: Maintain Overweight on Bank, target price at Rs 720/sh (Neutral)

Recommendations of fund houses: Mahindra and Mahindra

JP Morgan: Maintain Overweight on Company, target price at Rs 1715/share

Nomura: Maintain Buy on Company, target price at Rs 1978/share

GS: Maintain Buy on Company, target price at Rs 1730/share

Adani Energy Solutions has achieved $700 million in financial closure with nine international banks for its under-construction High Voltage Direct Current (HVDC) transmission link between Kudus to Aarey, Mumbai, Maharashtra. The HVDC transmission link will ensure uninterrupted supply of renewable power to the city of Mumbai and is highly critical given the city’s transmission capacity constraints amidst its fast-rising energy demand.

Kotak Mahindra Asset Management Company Ltd on Monday announced the launch of Kotak S&P BSE Housing Index Fund, an open-ended scheme replicating/tracking S&P BSE Housing Index.

S&P BSE Housing Index invests in companies related to the housing theme. This index diligently measures the performance of common stocks within the S&P BSE 250 Large Midcap Index, categorised as part of the eligible common India Industry Classification. Constituents are weighted by float-adjusted market capitalization, subject to a single constituent weight cap of 5 per cent. By closely replicating this index, the Kotak S&P BSE Housing Index Fund extends diverse investment opportunities to its investors linked to the housing sector.

Cyient has collaborated with Microsoft to establish EnGeneer Center of Excellence (CoE), using Azure OpenAI service and generative AI technologies to drive engineering innovation across industries. The stock rises 2.48% on the NSE, trading at ₹1,600.50.

Venezuela’s gold holdings dropped by over 12 per cent in just six months, according to data released by the central bank.

Venezuela’s gold holdings decreased by 8 tonnes in the first half of the year and continued a trend of years-long declines during a protracted economic crisis.

The central bank’s entire reserves decreased in the first half of this year to 61 tonnes from 69 tonnes last December.

At the end of June, the gold reserves were valued at $3.65 billion, a $261 million decrease from their value in December.

Vishnu Chemicals Ltd has raised ₹200 crore through a qualified institutions placement (QIP) of its equity shares. “We are pleased to announce the successful closure of QIP of Rs 200 crore,” Krishna Murthy Cherukuri, Chairman and Managing Director, Vishnu Chemicals said in a release on Monday.

The fund-raising committee at its meeting held on August 1, 2023, approved the allotment of 57,97,095 equity shares of face value of Rs 2 at an issue price of Rs 345 per share. The first-ever QIP of the company witnessed response from marquee domestic and foreign institutional investors, he added.

The stock falls by 1.63% on the NSE, trading at ₹346.80.

The August expiry futures of Bank Nifty opened the day with a gap-up at 45,049 versus previous week’s close of 45,002. After marking a high of 45,133, the contract declined and is now trading at around 44,930.

The contract has a support at 44,900. A breach of this level can trigger a quick fall to 44,500, a strong base. On the other hand, if the contract moves up from the current level of 44,930, it will face a trendline resistance at 45,100. Immediately above this is another barrier at 45,200. Click here, for businessline’s trade strategy.

​Bharat Heavy Electricals ​stock falls by 3.74% on the NSE, trading at ₹95.25. The company had signed an MoU with Greensat Hydrogen India Pvt. Ltd. for potential collaboration opportunities in green hydrogen and derivatives in the hydrogen value chain.

Bharti Airtel has announced the launch of Airtel Xstream AirFiber, its fixed wireless access (FWA) offering on 5G, for consumers in Delhi and Mumbai. The stock inches up by 0.47% on the NSE. trading at ₹893.80.

Max Healthcare Institute has approved the allotment of 12,363 equity shares face value of ₹10 each, fully paid-up, to eligible employees, under ESOP. The stock jumped 4.92% on the NSE, trading at ₹564.80.

The August futures contract of Nifty 50 opened today’s session with a gap-up at 19,600 versus Friday’s close of 19,576. It quickly made a high of 19,625 and is now hovering around 19,620.

Although the inclination appears bullish, the contract faces a considerable resistance at 19,640. For the contract to establish a sustainable intraday rally, Nifty futures should cross over this hurdle.

Until then, the bears will have a chance to turn the trend in their favour. ​Read more..​

United Breweries’ brand Kingfisher informed the exchanges that it has renewed association with FC Goa as an associate sponsor for three seasons from 2023 to 2026 of the Hero Indian Super League. The stock of United Breweries inches up by 0.61% on the NSE, trading at ₹1,589.60.

Listing view of Yatharth Hospital’s IPO from Anubhuti Mishra, Equity Research Analyst at Swastika Investmart Ltd.

The ongoing volatility in the secondary market has also impacted fresh listings, with Yatharth Hospital’s IPO listing on the stock exchanges today at ₹306 per share, a premium of only around 2% over the upper end of the price band of ₹300. This is well below expectations, given the strong subscription rate that the IPO received earlier. However, the current market uncertainty is likely to blame for the muted response from investors.

Post listing the IPO is trading at ₹333 per share, a premium of around 10% over the issue price. Investors who are looking for short-term gains may book profits at this level. However, aggressive investors who believe in the long-term prospects of the company may hold the stock with a stop loss at around the issue price.

Repco Home Finance shares touched 52-week high of Rs 369 on NSE after the Chennai-based lender posted a 43 per cent increase in Q1 net profit

In Asian market, gold dropped further on Monday to $1,938.25 an ounce. Silver slipped below $24/ounce to rule at $23.511 an ounce.

On MCX, gold October futures were down Rs 117 at ₹59,410 per 10 gm. Silver September contracts declined by ₹338 to ₹72,140 a kg.

Aurobindo Pharma’s shares gained 2.20 percent in early trade on BSE on Monday and are trading at Rs 860.30.

Hyderabad-based Aurobindo Pharma’s wholly owned subsidiary, Eugia Pharma Specialities, received a final approval from the US Food & Drug Administration (USFDA) to manufacture and market Vancomycin Hydrochloride for Injection. The approved product is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Vancomycin Hydrochloride of Mylan Laboratories Ltd. The product is being launched in August 2023.

Benchmark equity indices climbed in early trade on August 7, extending their previous day’s rally, amid buying in index majors ICICI Bank and Reliance Industries along with a mixed trend in Asian markets.

The BSE Sensex climbed 210.43 points to 65,931.68 in early trade. The NSE Nifty advanced 66.1 points to 19,583.10.

From the Sensex pack, Mahindra & Mahindra, Sun Pharma, Larsen & Toubro, NTPC, ICICI Bank, UltraTech Cement, Wipro, Tata Consultancy Services, HCL Technologies and Reliance Industries were the major gainers.

The rupee gained 10 paise to 82.71 against the U.S. dollar in early trade on Monday tracking positive domestic equities.

However, sustained foreign fund outflows and strength of the American currency in the overseas market dented investor sentiments, forex traders said.

At the interbank foreign exchange, the domestic unit opened at 82.73, then touched a high of 82.71 against the American currency, registering a rise of 10 paise over its last close.

Oil marketing companies (OMCs) have decided to increase the price of ethanol produced from damaged foodgrain (DFG) by Rs 4.75 per litre and that from maize by Rs 6.01 per litre for the remaining period of the 2022-23 ethanol supply year, which will end in October. Companies such as Globus Spirits, BCL Industries, Gulshan Polyols and others will benefit from the move as earlier Food Corporation of India stopped the supply of concessional rice for blending with ethanol.

Gold recovers after the payrolls report showed signs of a cooling labour market in the US. Nonfarm payrolls expanded by 187000 in July, less than market expectations of a 200000 increase but the unemployment rate unexpectedly fell to 3.5 per cent and wage growth slowed less than expected. Premiums on physical gold in China hit a near five-month peak on strong retail demand in the top consumer, while a weaker rupee offset the impact of a retreat in local prices in India.

Gold price showed an inclination to the downward trend towards 59200 per 10 gram and awaiting a breach of this level to aim for the main target of a Rs 58,800-level, said Kedia Commodities.

Shah Alloys stock jumps 9.27% on the NSE, trading at ₹58.95.

Aditya Vision has opened two showrooms in Deoria and Varanasi, Uttar Pradesh. The stock inches up by 0.03% on the BSE, trading at ₹2,466.

Can Fin Homes stock rises 1% on the NSE, trading at ₹740.45.

BLS E- Services Limited (BLSE), subsidiary of BLS International Services Ltd, has filed its draft Red Herring Prospectus dated August 4, 2023 (“DRHP”) with SEBI for the proposed IPO of its 2,41,30,000 fresh equity shares.

BLS stock inches up by 0.68% on the NSE, trading at ₹243.60.

Visagar Financial Services Ltd announced the decision to expand its portfolio into the media finance business. The stock rises 2.91% on the BSE, trading at ₹1.06.

Zomato stock rises 2.94% on the NSE, trading at ₹98.20.

Paytm’s parent One97 Communications rose 6.69% on the NSE, trading at ₹849.90. Vijay Shekhar Sharma will buy an additional 10.3% stake in Paytm from Antfin.

Tulsyan NEC has completed sale of non core assets - Ambattur land for Rs. 55.3 crore and sale consideration received by company. Tulsyan NEC is engaged in the manufacturing of TMT bars, Coal Based Power Plant and Synthetics.

NLC India won orders from Gujarat Urja Vikas Nigam for 300 MW (tariff of ₹2.71) and another 300 MW as a green shoe option (tariff of ₹2.70) to be setup at Gujarat State Electricity Corp Ltd’s Solar Park at Khavda, Gujarat.

Zen Technologies stock jumps 10% on the NSE, trading at ₹674.85. The company had reported its consolidated net profit for the quarter ended June 30, 2023, at ₹48.43 crore as against ₹7.02 crore in the previous year.

Navin Fluorine has received GPCB closure notice for its Dahej plant due to violations regarding air pollution norms. Also asked to pay Environment Damage compensation of Rs.1 crore. The closure is expected to impact financials for Q2FY24.

Gujarat Pollution Control Board revoked the closure order dated 21st July as HIKAL Limited has clarified all queries of GPCB and thus their Panoli facility continues to operate as normal.

KRBL Limited’s board meeting will be held on 10 Aug 2023 to consider Buyback of equity shares.

Major gainers on the NSE at 9:30 am on August 7, 2023:

M&M (2.41%); Hindalco (1.63%); Sun Pharma (1.38%); Grasim (1.38%); Divi’s Laboratories (0.89%)

Major losers:

Britannia (-1.54%); Cipla (-0.81%); ITC (-0.58%); Adani Enterprises (-0.42%); Kotak Bank (-0.38%)

Deepak Fertilisers announced commercial production of Ammonia at its new 5 lakh MTPA capacity facility in Taloja, Raigad, MH, under subsidiary Performance Chemiserve Ltd. This expands capacity by more than 3x from 1.287 lakh MTPA to 6.287 lakh MTPA at a total project cost of over Rs 4300 crores.

Government imposes anti-dumping duty on optical fibre imports from China, Korea, Indonesia. The duty will be valid for 5 years.

Cipla announced that the USFDA accorded Official Action Indicated (“OAI”) status to its Pithampur facility which may cause delay/withholding of pending product approvals. It stated that the company has not met regulatory requirements and may be subject to further regulatory action.

InGovern Research, a proxy advisory firm, has raised red flag over corporate governance at engineering services company TD Power Systems ahead of the AGM on Wednesday

It has asked the shareholders to seek reasons from the company for offloading of large shareholding by promoters and sought complete disclosures regarding the litigation with Vijay Kirloskar as company is also a litigant.

Crude oil futures traded marginally lower on Monday morning despite the tightening supply scenario in the world market with Saudi Arabia and Russia deciding to reduce production output in September also. At 9.20 am on Monday, October Brent oil futures were at $86.18, down by 0.07 per cent; and September crude oil futures on WTI (West Texas Intermediate) were at $82.78, down by 0.05 per cent. August crude oil futures were trading at ₹6849 on Multi Commodity Exchange (MCX) in the initial trading hour of Monday morning against the previous close of ₹6859, down by 0.15 per cent; and September futures were trading at ₹6803 as against the previous close of ₹6814, down by 0.16 per cent.

Indian Energy Exchange informed the exchanges that it has achieved 8,522 MU overall trade volume in July 2023, including green market trade of 275 MU, 6.24 Lac RECs (equivalent to 624 MU) and 70,222 ESCerts (equivalent to 70 MU). The overall volume traded during the month increased 19% on y-o-y basis.

Solara Active Pharma Sciences Limited has announced that completion of an inspection by USFDA at its Cuddalore facility (Tamil Nadu), with zero of 483 observations.

TVS Supply Chain Solutions IPO

Dates : 10 Aug - 14 Aug

IPO Size: Rs 880 Crore

Price Band : Rs 187 - 197

Retail Lot : 76 Share

Number of Applications : 58,776

Small HNI Lot : 1,064 Share, Application Amount : 2,09,608, Number of Applications : 2,099

BIG HNI Lot : 5,092 Shares, Application Amount : 10,03,124 Number of Applications : 4,198

Shares of Yatharth Hospital and Trauma Care Services Limited will be listed today. The company’s IPO size was ₹686 crore. It has fixed the IPO price at ₹300, the upper end of the price band ₹285-300.

The IPO has garnered substantial interest from qualified institutions, with the portion reserved for them being oversubscribed by an impressive 85.10 times. Respective quotas of retail investors and non-institutional investors were subscribed 8.34 times and 37.22 times. Overall, the IPO was subscribed 36.16 times.

ICICI Bank has informed the exchanges that the Reserve Bank of India (RBI) has given approval to raise its stake in one of its subsidiaries ICICI Lombard General Insurance Company Limited up to 4 per cent, in various tranches, subject to certain regulatory approvals.

Reliance Industries Ltd (RIL) has sought the nod of shareholders to appoint Mukesh Ambani as Chairman and Managing Director of the company for another five years till 2029. During this period, he has opted to draw nil salary.

The board of Fortis Healthcare has approved Agilus Diagnostics, its renamed diagnostics arm, to kick-start initial public offering process through offer-for-sale.

Adani Digital Labs, subsidiary of Adani Enterprises, has further acquired 70.19 per cent stake in Stark Enterprises, for ₹6.8 crore. In July, Adani Digital Labs had acquired 29.81 per cnet stake in Stark Enterprises for ₹3.56 crore. The acquisition is of strategic nature and will help Adani Group to enhance it’s travel line of business.

Biocon Biologics, Biocon, has announced key leadership appointments. Rhonda Duffy is appointed as Chief Operating Officer, while Sandeep Athalye has been elevated to the position of Chief Development Officer to head CMC, Clinical Development and Medical and Regulatory Affairs. Athalye was working with Biocon Biologics as its Chief Medical Officer. Further, Stephanie Wasco is appointed as Head of Communications – Advanced Markets, and David Gibson as Global Head – Business Development.

The Centre elevated Oil India Limited (OIL), India’s National Exploration & Production Major to Maharatna category. OIL is now the 13th Maharatna CPSE in the country and joins the league of BHEL, BPCL, CIL, GAIL, HPCL, IOCL, NTPC, ONGC, PFC, POWERGRID, RECL, and SAIL. Having acquired a majority share of Numaligarh Refinery Ltd. (NRL) in 2021, OIL has now become an integrated energy company.

Ganesha Group has started its relationship with Moon Beverages Ltd, an authorised bottler of Coca Cola Company, for using rPET chips in food grade packaging. Ganesha Ecopet Private Ltd, a wholly-owned subsidiary of Ganesha Ecosphere, has received an order on August 4 from Moon Beverages, for supply of rPET chips.

Bharat Heavy Electricals Ltd and Greensat Hydrogen India Pvt. Ltd. have signed an MoU for “Potential Collaboration Opportunities in Green Hydrogen and Derivatives in the Hydrogen Value Chain”. This MoU will pave the way for collaboration in Hydrogen Value Chain, contributing towards ‘National Hydrogen Mission’ of the Government of India, making India ‘Atmanirbhar’.

Aurobindo Pharma has announced that its wholly-owned subsidiary company, Eugia Pharma Specialities Ltd, has received a final approval from the US Food & Drug Administration (USFDA) to manufacture and market Vancomycin Hydrochloride for Injection USP, 1.25 g/vial and 1.5 g/vial, Single-Dose Vial, which is bio-equivalent and therapeutically equivalent to the reference listed drug (RLD), Vancomycin Hydrochloride for Injection USP, by Mylan Laboratories Ltd.

The product is being launched in August 2023. The approved product has an estimated market size of around $ 34.4 million for the twelve months ending May 2023, according to IQVIA.

As NIIs, Retail investors shown keen interest, the SBFC Finance IPO subscribed 7 times.

The Rs 1,025-crore initial public offering of SBFC Finance that saw an overwhelming response so far will close today for subscription. The NBFC is planning to raise Rs 1,025 crore via public issue which comprises a fresh issuance of shares worth Rs 600 crore and an offer for sale (OFS) of Rs 425 crore by promoters.

The price band for the offer has been set at Rs 54-57 per share.

Investors can buy a minimum of 260 equity shares in the IPO and in multiples of 260 shares thereafter.

Jhunjhunwala-backed Concord Biotech IPO enters Day-2

Price band has been set as Rs 705– 741. The lot size is 20 shares.

The Rs 1,550.59-crore initial public offering of Concord Biotech that opened for public subscription Friday was subscribed 0.61 times so far. The Jhunjhunwala-backed company has set the price band as Rs 705 – Rs 741. Investors can bid for a minimum of 20 equity shares and the IPO will close on August 8.

The public issue with a face value of Re 1 per equity share is entirely an offer for sale of 2.092 crore shares by Helix Investment Holdings Pte Ltd (which is backed by Quadria Capital Fund LP, an Asian private equity fund with a focus on healthcare). The offer also includes a reservation for a subscription by eligible employees. A discount of Rs 70 a share is being offered to Eligible Employees bidding in the Employee Reservation Portion.

Vijay Shekhar Sharma (Founder, Managing Director and CEO of Paytm), and Antfin (Netherlands) Holding B.V, have entered into an agreement on Monday whereby Antfin will transfer 65,335,101 shares of the company to an entity 10 per cent owned by Sharma – Resilient Asset Management B.V. This implies a transfer of 10.30 per cent of the share capital of the company for an estimated $628 million.

Infosys has informed the exchanges that Richard Lobo has resigned as executive vice president and senior management personnel. His last date with the company would be August 31.

Ex-Dividend 08 August 2023 (Tomorrow)

Last date for Cum-Dividend Today

Archit Organosys Ltd

Dividend Per Share Rs.0.5

Previous day Closing Price – Rs. 56.73

Castrol India Ltd

Dividend Per Share Rs.3

Previous day Closing Price – Rs. 151.95

Power Grid Corporation Of India Ltd

Dividend Per Share Rs.4.75

Previous day Closing Price – Rs. 247.5

Shalby Ltd

Dividend Per Share Rs.1.2

Previous day Closing Price – Rs. 196.5

Sterlite Technologies Ltd

Dividend Per Share Rs.1

Previous day Closing Price – Rs. 151.8

Taneja Aerospace & Aviation Ltd

Dividend Per Share Rs.2.5

Previous day Closing Price – Rs. 259.5

Westlife Foodworld Ltd

Dividend Per Share Rs.3.45

Previous day Closing Price – Rs. 927

Gujarat Narmada Vly Frtlzrs & Chmcl Ltd

Hindustan Copper

Indiabulls Housing Finance Ltd

Piramal Enterprises Ltd

Results Calendar: ADF Foods, Alkyl Amine, Astar, Balmer Lawrie, Banco India, Barbeque, Bayer Crop, Emami, Eris Healthcare, GHCL, GIC Housing Finance,Gland Pharma, GBFC, Gokex, Hilton, HLE Glascoat, , Indo Count Industries, India Cements, Indigo Paints, ITC Cementation, Jupiter Wagons, KIMS, Lloyd Steel, Mangalore Chem & Fert, Man Industries, Max Healthcare, Medplus, Monte Carlo, Electra, Paras Defence, Policy Bazaar, Polymer, Rainbow Children’s, Ramco Cement, Ramco Systems, Restaurant Brand Asia, Rategain, Sanghvi Movers, Sat Industries, Sobha, SPARC, Tata Chemicals, Torrent Pharma, Ujjivan Financial, VRL Logistics and Whirlpool.

Aurobindo Pharma, BHEL, Ganesha Eco, Oil India, Infosys, Biocon, Adani Enterprises, Delta Corp, Fortis Healthcare, Reliance Industries, ICICI Bank, ICICI Lombard GIC, India Cements, Barbeque, GIC Housing, Max Healthcare, Gland Pharma, Indigo Paints, Policybazaar, Sobha, Tata Chen and Ujjivan are some of the stocks that are in focus today.

In the past week the Benchmark indices, Sensex and Nifty 50 declined 0.7 per cent each respectively. Most of the sectoral indices ended in red. BSE Realty declined the most by 4.3 per cent followed by BSE PSU -1.8 per cent, BSE Bankex -1.7 per cent. BSE IT and BSE Teck gained 3 per cent and 2.1 per cent respectively.

Among the BSE 500 stocks, the top gainers with fundamental news driving the shares were Indian Railway Finance Corporation (IRFC), KSB Limited and India Bulls Housing Finance Limited.

Indian shares are set for a muted start on Monday, tracking Asian peers, on caution ahead of US and China inflation data as well as the Reserve Bank of India’s monetary policy decision due later this week.

India’s GIFT Nifty on the NSE International Exchange was up 0.09% at 19,607.50, as of 7:56 a.m. IST.

Asian equities were subdued, with the MSCI Asia ex-Japan adding 0.05%.The Reserve Bank of India will also announce its policy decision on Thursday.

The central bank kept rates unchanged in April and June, after hiking them by 250 basis points in the fiscal 2023.