Share Market Highlights 01 Sep 2023: Sensex up 555 pts, Nifty settles above 19,400

Indian shares advanced on Friday and closed higher for the week, snapping a five-week losing streak, after data showed the economy grew at its quickest pace in a year in the first quarter, which could boost foreign investor inflows, per a Reuters report.

The Nifty 50 index rose 0.94% to end at 19,435.30, while the S&P BSE Sensex settled 0.86% higher at 65,387.16.

They gained 0.88% and 0.77%, respectively for the week after having logged losses in each of the past five weeks since hitting record highs on July 20.

Power Grid Corporation of India Ltd has informed commissioning of project under transmission system strengthening beyond Kolhapur for export of power from solar & wind energy zones in southern region- RE- conductoring of Kolhapur (PG)- Kolhapur 400 kV D/C Line.

Easy Trip Planners Ltd has announced a collaboration with Czech Tourism to promote tourism in the Czech Republic. This partnership seeks to create a network for travellers exploring the land of the Bohemian crown.

The shares of the company were down by 1.81 per cent to ₹40.80 at 01.40 pm on the BSE

Titagarh Rail Systems Limited’s shares were up by 0.84 per cent after the company launched its first Diving Support Craft (DSC) from its shipyard in Titagarh, West Bengal. This follows a contract awarded by the Indian Navy to TRSL in February 2021 for the construction of five Diving Support craft.

Ashiana Housing Ltd has entered into a development agreement to develop a group housing project with approximately saleable area of 11 lakh sq. ft. at Village Bhankrota Kalan, Tehsil Sanganer, Jaipur, Rajasthan.

Sharma would provide strategic supervision to UGRO’s strong 140-member in-house technology team and over 200-member strong operations team. The stock inches up by 0.30% on the NSE, trading at ₹298.95.

Major gainers on the NSE at 3pm:

Jio Financial (4.99%); ONGC (4.57%); NTPC (4.56%); Tata Steel (4.03%); JSW Steel (3.43%)

Major losers:

Cipla (-0.83%); Dr Reddy’s (-0.54%); HDFC Life Insurance (-0.46%); Nestle India (-0.37%); Sun Pharma (-0.31%)

The QIB portion has been subscribed 37.81 times, NII portion 24.48 times; and retail 6.99 times. The issue closes today.

Stocks advanced on BSE at 3 pm on September 1 were 2,141 against 1,489 stocks that declined. Total stocks traded were 3,763. The number of stocks that recorded a 52-week high was 271, and those that hit a 52-week low was 22.

The stock trades at ₹1,892, up by 2.38% on the BSE.

Tata Steel stock trades at ₹127.35, up by 3.62% on the NSE.

The stock trades at ₹578, up by 0.86% on the BSE.

The stock trades at ₹184, higher by 3.52% on the NSE.

NMDC (5.12%)

SAIL (4.13%)

Hindustan Copper (3.91%)

National Aluminium Company (3.66%)

Tata Steel (3.46%)

Some of the Key Highlights are:

Monthly transactions rose 6% on Aug’23 to 3.24 cr vs 3.05 cr for Jul’23

Monthly transactions rose 63% on Aug’23 to 3.24 cr vs 1.99 cr for Aug’22

PNB (4.76%)

IndusInd (2.97%)

Bandhan Bank (2.85%)

Bank of Baroda (2.35%)

Railtel Corporation of India (16.41%)

Pokarna (15.64%)

Rossell India (14.41%)

Man Industries (India) (13.77%)

Times Guaranty (12.60%)

Tata Motors Limited sales in the domestic & international market for August 2023 stood at 78,010 vehicles, compared to 78,843 units during August 2022.

The board of Opitemus Infracom Ltd has accorded its approval to enter into Joint Venture Agreement with Corning International Corporation, a company incorporated under the laws of Delaware, USA. Stock trades at ₹369, higher by 6.52% on the NSE.

Sumitomo Chemical India has as executed agreements for acquiring 85% equity shares and controlling stake (on fully diluted basis) in Barrix Agro Sciences Pvt Ltd., a Bangaluru based company engaged in the business of developing and providing to farmers pheromone traps and chromatic sheets. The stock trades at ₹4399.95, down by 0.12% on the BSE.

The stock trades at ₹402.50, higher by 3.35% on the NSE.

Hiring dipped 3 per cent month-over-month, whereas e-recruitment activities in India fell by 5 per cent in August 2023 compared to August 2022, according to the foundit Insights Tracker (fit). This comes even as the country’s GDP grew by 7.8 per cent in the April-June quarter of the current fiscal year (2023-2024).

The fall in hiring indices can be attributed to the challenges posed by inflation and the slow growth of other major economies, such as the USA, the report noted. However, IMF data states India’s economy is currently the fifth largest in the world and, based on current estimates, is projected to reach third place by 2029.

Click here to read the complete report.

A PSB alliance comprising 12 public sector banks (PSBs) in India, has contracted Veefin Solutions Ltd to implement and manage a unified cloud-based Supply Chain Finance (SCF) eco-system.

This marks an initiative where numerous large banks collaborate to establish an SCF and SME finance ecosystem, enabling SMEs to access financing from various Fintechs and B2B marketplaces. The cloud-based platform is set to launch within the current fiscal year.

The shares of Veefin Solution’s Ltd were up by 7 per cent at Rs 253 on NSE.

Tata Consultancy Services Ltd’s shares were up by 0.89 per cent after the company announced its collaboration with Athora Netherlands, a Dutch life insurance and pension provider. The extended partnership aims to empower Athora Netherlands to adopt a modern business and IT operational model.

Read more.

Maruti Suzuki India Ltd sold a total of 189,082 units, highest ever monthly sales volume. Total sales in the month include domestic sales of 158,678 units, sales to other OEM of 5,790 units and exports of 24,614 units.

The stock trades at ₹10,167.90, higher by 1.64% on the NSE.

GDP growth for the QE June came higher than our expectation at 7.8%Y. We mark to market GDP growth higher to 6.4% YoY (from 6.2%) for F2024, driven by robust domestic demand, notwithstanding the weakness in global growth. The upside surprise was led by sharper-than-anticipated growth in private consumption. On a QoQ SA basis, GDP growth accelerated to 5.7% in 2Q23 from 3.5% in 1Q23.

Supply side exhibits a mixed trend across sectors: GVA for 2Q23 rose at a faster pace of 7.8% YoY from 6.5% in 1Q23, a tad above our and consensus estimates of 7.7%. drivers. Stronger balance sheets across economic agents and the government’s pro-active supply-side response ushering in structural reforms are likely to provide a secure foundation to a strong multiyear growth cycle, say economists Upasana Chachra and Bani Gambhir.

The board of Motilal Oswal Financial Services Ltd has approved the proposal to make an investment in Gufic Biosciences Ltd.

Gufic Biosciences stock trades at ₹328.60, up by 6.21% on the NSE.

Firstsource Solutions Ltd informed the exchange about the resignation of Vipul Khanna as Managing Director & CEO of the company. Ritesh Mohan Idnani has been named as Managing Director & CEO. The stock trades at ₹169.10, higher by 3.62% on the NSE.

Most Europe markets open marginally down with key indices across Germany, France and Italy trading in the range of -10 to -20 bps, while UK’s FTSE 100 is up marginally. Global markets await US jobs data for the month of August, which is expected to be released at 6PM IST.

A stronger jobs data might imply a stronger than expected economy, but at the same time a more hawkish Fed and vice versa.

The stock trades at ₹614, down by 1.89% on the NSE.

EaseMyTrip stock trades at ₹41.85, up by 0.72% on the NSE.

At 12.30 hours IST, the precious metal ruled at $1,940.89. Silver was subdued, quoting at $24.50 an ounce.

t has a weaving capacity of 166 Nos. of looms and fabric processing capacity of 50,000 meters per day. The stock trades at ₹757.90, up by 0.61% on the BSE.

The whole consultancy service is priced at ₹18 lakh. The stock trades at ₹376.95, higher by 2.36% on the BSE.

Nestlé India Ltd.’s shares were up by 0.5 per cent after the company reported incorporating millets into its product offerings, aligning with the Indian government’s emphasis on promoting millets as a sustainable food option.

This new offering comes in two flavours, Tangy Tomato and Veggie Masala, and is available in multi-serve packs priced at Rs. 175 for 240 gm and single-serve packs priced at Rs. 30 for 40 gm.

The share price dipped 0.33% to trade at Rs 21,913 on NSE.

Here’s what Kotak Institutional Equities said market valuations:

The broad all-season portfolio outperformed the index in August. Index valuations are rich; however, they are not alarming yet as per our regression model that maps index earnings yield as a function of index expected growth, index ROE, 10-year yield and VIX. Any adverse movement in any of these variables (lower-than-expected rofitability/EPS cuts/yields moving higher/ volatility rising) will increase the valuation gap between the model forecasted earnings yield and the actual earnings yield.

We make two changes to the concentrated all-season portfolio: Bajaj Auto/NTPC replace HDFC Bank/Britannia Industries.

The stock trades at ₹8.25, higher by 4.96% on the BSE.

The company has priced the top variant at Rs 2.15 lakh. The share price dipped 0.16% to trade at Rs 3,331.35 on NSE.

Redington Limited, a global leader in the distribution of technology products and services, has announced the appointment of Hariharan as the Group CEO.

Sharea of luxury hotels operator EIH Ltd, known for Oberoi brand, are up 5.6% ahead of its Board of Directors meeting today for discussion and approval of the company’s strategies for its future plans and operations.

On August 30, CARE Ratings reaffirmed Rs 100-crore commercial papers at CARE A Plus.

EIH stock has been a beneficiary of positive sentiment ever since Reliance Industries signed an understanding with The Oberoi Hotels and Resorts. Reliance through its Reliance Strategic Business Ventures Limited owns nearly 19% of Oberoi’s EIH Ltd. The two will jointly manage two properties in India and one in the United Kingdom.

The stock trades at 46 times trailing 12-month price to earnings and is up over 25% in last one month.

India’s August rainfall was 36% below long-term average, it added.

The company recorded 2,610 unit sales of vehicles in the month of August 2023, as against 1,950 units in August 2022.

The stock lost 0.93% to trade at Rs 390.90 on NSE.

Life Insurance Corporation of India informed the exchanges that R Doraiswamy, Executive Director, Information Technology/Software Development, Life Insurance Corporation of India, Central Office, Mumbai, has taken charge of the position of Managing Director of the Corporation on September 1, 2023.

Major gainers on the NSE at 12 noon:

ONGC (4.59%); Jio Financial (4.33%); NTPC (3.86%); Tata Steel (3.50%); Hindalco (2.70%)

Major losers:

Divi’s Lab (-0.90%); Dr Reddy’s (-0.87%); Cipla (-0.63%); HDFC Bank (-0.59%); Britannia (-0.46%)

Record date has been set as Sept 14. The stock is currently trading at Rs 1,115 with 4.95%.

Stocks advanced on BSE at 12 noon on September 1 were 2,082 against 1,352 stocks that declined. Total stocks traded were 3,613. The number of stocks that recorded a 52-week high was 231, and those that hit a 52-week low was 14.

According to the company, it has now become debt free. The stock trades at Rs 168.70, up by 3.34% on the NSE.

The September contract opened today’s session marginally lower at 44,269 versus yesterday’s close of 44,290. It is now trading at around 44,190, down 0.25 per cent.

The contract has a considerable support band between 44,000 and 44,100. If Bank Nifty futures rebound on the back of this base, it can rally to 44,400. A breach of this level can lead to the upswing extending to 44,575.

Click here to read our complete trade strategy.

NCC Limited has received 4 new orders aggregating ₹8,398 crore in lhe monih of August 2023 relating to Electrical Division.

The September futures contract of Nifty 50 opened today’s session almost flat at 19,410 versus Thursday’s close of 19,414. It rallied to mark a high of 19,428 during the first hour of trade and is now hovering around 19,420.

The underlying Nifty 50 index has a strong support at the current level of 19,250. Thus, the Nifty futures can be considered to have a support at 19,400.

Click ​here to read our trade strategy for today. ​

The QIB portion has been subscribed 0.23 times, NII portion 6.76 times; and retail 3.91 times. The issue closes today.

New allegations over governance issues at India’s Adani Group put the brakes on a recovery in the conglomerate’s market value from carnage in the wake of US-based short-seller Hindenburg Research’s report earlier this year, per a Bloomberg report.

Adani-related stocks plunged on Thursday after an investigation raised questions about the group’s ownership structure and trades by certain entities associated with its founders. The ports-to-power conglomerate denied the allegations, saying they are based on decade-old cases for which investigations have already been completed.

Click here to read the complete report.

New orders boosted the output in the manufacturing sector, as Purchasing Managers’ Index (PMI) rose to 58.6 in August, which is second best in nearly three years. However, inflation remains a big worry for the manufacturers. Also, job creation growth was slower.

PMI, prepared by S&P Global on the basis of survey among purchasing executives of 400 companies, was 57.7 in July. Rise in PMI has been recorded after a gap of two months. Manufacturing has a share of over 14 per cent on Gross Value added (GVA) in India and considered as biggest job provider.

Click here to read our complete report.

PVR INOX has achieved highest-ever monthly admissions and Box office month of all time in August 2023. It recorded a Gross box office revenue of ₹532 crore. “These accomplishments were driven by the blockbuster performance of films released during the month notably ‘Gadar 2’ (Hindi), ‘Jailer’ (Tamil) & ‘OMG2’ (Hindi), ‘Dreamgirl 2’ (Hindi) alongside the enduring success of content premiered in July, namely ‘Rocky aur Rani ki Prem Kahani’ (Hindi) and ‘Oppenheimer’ (English),” it said in a regulatory filing.

The stock trades at ₹1,784, down by 0.39% on the NSE.

Click here to read our complete report.

Equity benchmark indices Sensex gained more than 140 points and Nifty rose 57 points in early trade on Friday as investors seemed to be relatively cautious amid mixed global cues.

Economic growth of 7.8 per cent in the three months ended June, the highest in the past four quarters, helped investor sentiments.

The 30-share Sensex climbed 142.02 points or 0.22 per cent to 64,973.43 points, while the broader Nifty went up 57.60 points or 0.3 per cent to 19,311.40 points.

The majority of the stocks on both the Sensex and Nifty were in positive territory. In the Sensex pack, Tata Steel gained more than 3 per cent.

Read more.

India’s Vedanta ran a “covert” lobbying campaign to weaken key environmental regulations during the COVID-19 pandemic, the Organised Crime and Corruption Reporting Project (OCCRP) said in an article on Thursday.

In January 2021, Vedanta Group Chairman Anil Agarwal told former Environment Minister Prakash Javadekar the government could add “impetus” to India’s economic recovery by allowing mining companies to boost production by up to 50% without having to secure new environmental clearances, the OCCRP said.

Vedanta stock up over 1 per cent, ignoring OCCRP report.

Kirloskar Brothers stock trades at ₹821.95, down by 3.25% on the NSE. Crisil Ratings had upgraded long term rating of the company to ‘Crisil AA/Stable’ from ‘Crisil AA-/Positive‘. The short-term rating has been reaffirmed at ‘Crisil A1.

Opportunities Fund-I, offloaded shares of Medplus for Rs 1,206 crore through open market transactions.

According to the bulk deal data available with the NSE, Lavender Rose Investment and PI Opportunities Fund-I sold 70 lakh shares each (or 5.9 percent stake each).

Click here to read our complete report.

SEBI has proposed to create an independent body called Performance Validation Agency (PVA) to validate the claims and performance related to investment advice and buy/sell/hold recommendations by SEBI registered intermediaries such as investment advisers, research analysts, portfolio managers, asset managers and stock brokers.

IAs and RAs are currently not allowed to make any reference to past performance as per the advertisement code. Stock brokers are not allowed to make any reference to the past or expected future return of algorithms or associate with any platform providing reference to the past or expected future return of algorithms.

The stock gained 0.23% to trade at Rs 778.75 on NSE.

The stock trades at ₹300.30, inches by 0.08%.

SSWL has achieved net turnover of ₹389.77 crore in August 2023 as against ₹352.93 crore in August 2022 recording a growth of 10.44 % y-o-y.

The stock gained 1.43% to trade at Rs 4,680 on NSE.

Click here to read our complete report here.

The stock trades at ₹3,149.65, down by 0.30% on the NSE.

Here is what VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, has said on Nifty and the broader market trends:

Headwinds stronger than tailwinds have pushed the Nifty down by 406 points in August. Some headwinds like weakening monsoon and sluggish global growth are likely to weigh on markets. And now there is another headwind coming from the Brent crude rising to $87. FPI flows in the cash market turned negative in August after strong positive flows in the previous three months. These headwinds will constrain a sustained recovery in markets.

Long-term investors can utilise weakness in the market to buy high quality stocks in banking, capital goods and automobiles. The rally in the mid-and small-cap segment is turning unhealthy with the participation of many low-grade stocks. This trend is unlikely to last long.

Major gainers on the NSE at 9:30 am:

Tata Steel (2.93%); Hindalco (2.58%); Jio Financial (2.27%); ONGC (1.92%); JSW Steel (1.74%)

Major losers:

NTPC (-1.16%); Adani Ports (-0.45%); LT (-0.44%); Asian Paints (-0.39%); Infosys (-0.38%)

The company bagged a marine contract worth Rs 3,290 crore.

Jalan Kalrock Consortium on Thursday said it deposited Rs 100 crore, following NCLAT’s nod for Jet Airways’ revival.

Indian markets opened the session with marginal gains. While BSE Sensex was 100 pts or 0.15% higher at 64,931, NSE Nifty was 40 pts or 0.2% higher at 19,294 in early trade. Indian economy grew 7.8% in Q1 FY24, surpassing RBI’s expectations. Network 18’ stock jumped 6.5% to trade at Rs 72.81 on the back of ₹5,963-cr deal between its subsidiary Viacom18 and BCCI for TV and digital rights. According to analysts, consolidation will continue in the market.

Network 18 subsidiary Viacom18 has bagged BCCI TV and digital rights, in a five-year deal worth ₹5,963 crore. This further cements Viacom’s OTT bid, eroding Disney Star’s digital supremacy on the counter.

On Thursday, the cricket body auctioned the TV and Digital rights for India’s home cricket broadcasting. Like the IPL media rights auction, BCCI auctioned the TV and Digital rights of the cricket home matches separately. Three of India’s biggest broadcasters, Sony, Disney Star, and Viacom18, battled it out to win the rights.

Click ​here to read our complete report​.

The stock dipped 1.74% to trade at Rs 614.95 on NSE.

Click here to read the complete report.

Jio Financial Services will be removed from S&P BSE indices before the begging of the trade today.

The Assistant Commissioner of State Tax (Maharashtra) initiated a search at certain premises of GlaxoSmithKline Pharma.

-- Abhishek Bisen, Head - Fixed Income at Kotak Mahindra Asset Management Company

“India’s April-June GDP growth at 7.8% in line with expectation was higher than 6.1% growth in January-March 2023. On the supply side, the services sector (esp BFSI & Real Estate) continues to be the dominant factor driving growth with 10.3% YoY increase. On the Demand side, while net exports were a drag to GDP, Private consumption improved significantly supporting high-frequency data on auto sales, air traffic, fuel consumption etc. and Fixed Investment growth was relatively steady supported by Centre and State Capex. Going ahead risk to growth may increase from uneven and deficient monsoon rainfall and the external headwinds. The YoY growth % for rest of FY 24 may be lower than Q1, however in absolute terms, the GDP numbers would be going up each quarter.”

Key highlights:

GDP growth jumped to 7.8% in Q1 FY24 from 6.1% in the previous quarter.

Continued strength in services and construction activities as well as a favourable base supported the growth.

Private consumption picked-up while investment demand remained strong.

Net exports was a drag on the overall growth.

We maintain our projection for FY24 GDP growth at 6.5%.

Downside risks emanating from weather related challenges, high food inflation and weak external demand persist.

Indian markets could open flat, in line with mildly positive Asian markets today and despite lower US markets on Aug 31

U.S. stocks finished mostly lower on Thursday to end August on a sour note after the Federal Reserve’s preferred inflation gauge proved largely in line with expectations for July, leaving investors looking ahead to Friday’s August jobs report. -- Deepak Jasani, Head of Retail Research, HDFC securities.

-- Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd

“Continuing with the ongoing theme, markets may see sharp sideways movement on either side during intra-day trade due to lack of firm cues from global equities. Select auto stocks could be in focus which will react to monthly sales numbers to be announced today. Other than weak global macros, India’s rainfall deficit last month is a cause of concern as any extended dry spell could further worsen the sentiment. Investors are hoping the FII outflows to take a breather and reverse the trend this month. Technically, Nifty’s upside is likely to be capped at 19437-19517 zone. Caution will continue to be the buzzword as long as Nifty is trading below the 19517 mark.”

-- Ashwin Ramani, Derivatives & Technical Analyst, SAMCO Securities:

Nifty fell by 2.06% during the August month expiry. Nifty futures rollover stood at 77.97%, which is significantly lower compared to last month’s expiry rollover of 83.95% and its three months average of 79.61%.

Nifty will start the September series with an open interest of 1.06 crore shares compared to an OI of 1.33 crore shares at the beginning of the August series. Nifty saw significantly lower rollover with a higher cost of carry (+0.90%) and a fall in open interest, compared to its previous month, indicating profit booking of long positions before the start of September Expiry.

INDIAVIX, known as the fear indicator, rose 14.75% during the August month series, increasing from 10.51 to 12.06 levels, gave major discomfort comfort to the bulls. The Foreign Portfolio Investors (FPIs) Long Short ratio, too, fell from 53.67% to 50.50% during the August Series Expiry, indicating that FPIs now marginally hold more long positions relative to short positions in Index Futures. The Put-Call Ratio, a sentiment indicator, however, fell from 1.33 from 0.70, indicating strong call writers’ strength.

On the Options front in the September monthly expiry, the 19,000 Strike put option has highest open interest with 64,26,550 contracts followed by the 19,500 Strike put option with 26,56,950 contracts. While on the call side, the 20,000 call has highest open interest with 25,04,150 contracts followed by the 19,500 Call strike with 21,27,950 contracts.

The Foreign Portfolio Investors (FPIs), however, have built some long positions towards the last week of the August Expiry with the Long-Short Ratio moving from 40.42% on 25th August to 50.50% on 31st August, giving a ray a hope for the bulls.

One97 Communications Limited that owns the brand Paytm, India’s leading payments and financial services company and the pioneer of QR and mobile payments, today announced that its wholly-owned subsidiary Paytm Payment Services Limited has introduced EMV 3DS upgrades for Visa cards. EMV 3DS is the latest security protocol to seamlessly authenticate consumers and safeguard against card-not-present (CNP) fraud. With this, the company has become one of the first to implement EMV 3DS for Visa cards across its existing merchant partners.

HFCL Board approved allotment of shares worth Rs 352 crores via QIP route at Rs 69 per share

Reliance Venture, Quant MF, Saint Capital invested in QIP

Citi on Emami

Upgrade To Buy Rating

Target Raised To Rs 600 From 455

Citi on Nykaa

Buy Rating

Target Rs 170

Macquarie on USL

Underperform Rating

Target Rs 735

JPM on Eicher Motors

Neutral, TP Rs 3050

Ex-date Dividend: Ganesh Housing Corporation, Vinati Organics, Shipping Corporation of India, Themis Medicare, Triveni Engineering & Industries, NBCC (India), APL Apollo Tubes, Gujarat State Petronet, Vakrangee, Arvind Fashions, GNA Axles, PSP Projects, Ram Ratna Wires, Sansera Engineering, Metro Brands, Syrma SGS Technology, Gujarat Themis Biosyn

Ex-date AGM: Vinati Organics, Shipping Corporation of India, Themis Medicare, Triveni Engineering & Industries, Bombay Dyeing, Hatsun Agro Product, Arvind Fashions, PSP Projects, Sansera Engineering, Syrma SGS Technology

Ex-date Bonus Issue: GNA Axles

Ex/Record-date Interim Dividend: Ujjivan Financial Services, Pearl Global Industries

Ex/Record Date Stock Split: Remedium Lifecare

Record-date Dividend: Ganesh Housing Corporation, Triveni Engineering & Industries, NBCC (India), Gujarat State Petronet, Ram Ratna Wires, Metro Brands, Syrma SGS Technology

*Move Into Short-Term ASM Framework:*Hindustan Construction Company, Indiabulls Housing Finance, India Pesticides, S Chand and Company.

Move Out Of Short-Term ASM Framework: Paisalo Digital, Universal Cables.

F&O BAN

NIL

Atul Auto: Promoters Prafullaben Jayantibhai Chandra sold 1.63 lakh shares, Harishkumar Jagjivan Chandra sold 1.05 lakh shares, Ushaben Dharmendrabhai Chandra sold 1.2 lakh shares, and Manishaben Atulkumar Chandra sold 71,691 shares on Aug. 25.

DB Realty: Promoter Shravan Kumar Bali sold 30,000 shares on Aug. 28.

Advanced Enzyme Technologies: Promoter Advanced Vital Enzymes sold 95,000 shares between Aug. 28 and 30.

Shoppers Stop: Promoters Cape Trading bought 48,858 shares between Aug. 28 and 30, Ravi C. Raheja bought 73,026 shares between Aug. 28 and 29, and Anbee Constructions bought 50,000 shares on Aug. 28.

Sula Vineyards: Verlinvest Asia sold 1.06 crore shares, or 12.6%, at Rs 484.13 apiece, while HDFC Mutual Fund, through its three funds, bought a combined 35.2 lakh shares (4.2%), Morgan Stanley Asia bought 13.1 lakh shares (1.6%), Societe Generale bought 6.5 lakh shares (0.8%), and Ghisallo Master Fund bought 4.8 lakh shares (0.6%) at Rs 484 apiece.

ACC: BNP Paribas Arbitrage bought 22.9 lakh shares (1.2%) at Rs 2,006.73 apiece.

Ashok Leyland: BNP Paribas Arbitrage sold 6.03 crore shares (2%) at Rs 183.83 apiece. Supreme Industries: BNP Paribas Arbitrage sold 27 lakh shares (2.1%) at Rs 4,438.13 apiece.

REC: BNP Paribas Arbitrage sold 4.2 crore shares (1.6%) at Rs 238.91. apiece.

Astral: BNP Paribas Arbitrage sold 48 lakh shares (1.8%) at Rs 1,952.76 apiece.

Power Finance Corporation: BNP Paribas Arbitrage sold 3.97 crore shares (1.5%) at Rs 260.93 apiece, and Windacre Partnership Master Fund sold 3.43 crore shares (1.3%) at Rs 261.44 apiece.

Prudent Corporate Advisory Services: TA FDI Investors sold 37.37 lakh shares (9%) at Rs 1,125.07 apiece, and Mansi Share and Stock Advisors sold 3.36 lakh shares (0.8%) at Rs 1,096.02 apiece. DSP Mutual Fund bought 20 lakh shares (4.8%), India Arcon ICAV bought 3.98 lakh shares (1%) and Abu Dhabi Investment Authority bought 3.36 lakh shares (0.8%) at Rs 1,125 apiece.

Cummins India: BNP Paribas Arbitrage sold 53.36 lakh shares (1.9%) at Rs 1,707.52 apiece.

Neuland Laboratories: BNP Paribas Arbitrage sold 64,893 shares (0.5%) at Rs 3,871.31 apiece.

HDFC AMC: BNP Paribas Arbitrage sold 32.8 lakh shares (1.5%) at Rs 2,515.4 apiece.

IDFC First Bank: BNP Paribas Arbitrage sold 11.22 crore shares (1.7%)

at Rs 93.04 apiece, and Copthall Mauritius Investment sold 3.35 crore shares (0.5%) at Rs 93 apiece.

Kesoram Industries: Euston Industries sold 25.2 lakh shares (0.8%) at Rs 89.69 apiece.

Orient Green Power (RE): LIC sold 47.4 lakh shares (2%) at Rs 2.78 apiece.

*Medplus Health Services:*Lavender Rose Investment and PI Opportunities Fund I sold 70 lakh shares (5.9%) each at Rs 861.68 and Rs 861.93, respectively. Nippon India MF bought 39.8 lakh shares (3.3%) at Rs 862 apiece, the Government of Singapore bought 14.4 lakh shares (1.2%) at Rs 862 apiece, Fidelity Fund bought 14 lakh shares (1.2%) at Rs 856.79 apiece and Steadview Capital Mauritius bought 9.6 lakh shares

Rishabh Instruments: The IPO was subscribed to 2.46 times on its second day. The bids were led by non-institutional investors, who subscribed 4.65 times, retail investors, who subscribed 2.79 times, and institutional investors, who subscribed 0.22 times, or 22%. The IPO was subscribed to 73% on day one.

Larsen & Toubro: With a whopping $10 billion addition in market capitalisation, automaker Tata Motors and the engineering behemoth Larsen & Toubro topped the chart of value creators so far this year.

Navneet Education: The board approved a composite scheme of arrangement for the amalgamation of Genext Students and the demerger of the Edtech business of Navneet Futuretech into Navneet Education.

Torrent Pharma: has likely submitted a non binding bid for Cipla. Torrent Pharma and Cipla for comments, a response is awaited.

India Pesticides: The company acquired 11,461 sq m of land adjacent to its existing Sandila plant in UP to set up a pesticide manufacturing unit. The cost of acquisition is Rs 9.61 crore.

Shakti Pumps: The company received an order from the Haryana Renewable Energy Department for the supply, installation, and commissioning of solar water pumping systems. The order will be executed within a 120-day period from the date of issue of the work order.

Genus Power Infrastructure: The company’s step-down wholly owned subsidiary has bagged a Rs 2,247.37 crore order for 24.18 lakh smart metres, including their design, supply, installation, and commissioning. The total order book now stands at around Rs 11,000 crore.

Auto Stocks: To be in focus as auto makers announce the wholesale figures for the month of August.

Nykaa: The company invested Rs 3.97 crore in its international arm, FSN International, by acquiring 39.78 lakh shares of Rs 10 each on a rights basis for providing long-term funds.

LIC: Mini Ipe has ceased to be the MD, and Gajraj Singh Gill has ceased to be the Executive Director (Senior Business Associate) with effect from Aug. 31 upon superannuation. CONCOR: Sanjay Swarup to be appointed as Chairman and Managing Director with effect from Oct. 1.

Punjab National Bank: The bank has raised lending rates by 5 bps across tenures, effective Sept. 1.

Sula Vineyards: Verlinvest Asia Pte sold a 12.6% stake in Sula Vineyards Ltd. for Rs 513.17 crore on Thursday. HDFC Mutual Fund, through its three funds, bought a combined 35.2 lakh shares, or a 4.2% stake. Other buyers include Morgan Stanley Asia (1.6%), Societe Generale (0.8%), and Ghisallo Master Fund (0.6%).

Reliance Industries: The company’s media unit Viacom 18 bagged both TV and digital rights of the Indian cricket team’s home series for the next five years with a cumulative bid of approximately Rs 6,000 crore, beating Star India and Sony in a three-way battle. The rights will come into effect with India’s three-match home series against Australia beginning Sept. 22 and ending March 31, 2028.

SEBI has proposed to facilitate registered intermediaries to disclose their performance to investors, while at the same time having checks and balances to protect the interest of investors against unverified claims/ performance.

“There has been a demand from registered intermediaries to showcase their performance to investors so as to establish/enhance their credibility in the eyes of investors and to help grow the reach of their servicesto investors,” SEBI in a consultation paper said

​HCL Technologies ​has completed the acquisition of ASAP Group, an automotive engineering services provider headquartered in Germany effective August 31, 2023.

Headquartered in Ingolstadt, Germany, ASAP is focused on future-oriented automotive technologies in areas such as autonomous driving, e-mobility and connectivity. ASAP serves top automotive original equipment manufacturers (OEM) and tier 1 suppliers in Germany. ASAP’s services portfolio comprises electrics/electronics, software, consulting, service testing and validation and vehicle development. ASAP has over 1,600 employees across nine locations in Germany.

ITD Cementation India Limited has secured a marine contract worth approximately Rs. 3290 crores excluding GST.

Jalan Kalrock Consortium on Thursday said it has deposited Rs 100 crore to Jet Airways, following NCLAT’s nod for the airline’s revival.

Credit growth running ahead of expectation, led by unsecured retail and corporate credit pick-up: Emkay Global Research

The Indian banking system’s growth remains robust at 14.9% YoY (ex-HDFCL) for the fortnight ended August 11, 2023 (vs. 14.7% YoY for the previous fortnight); and if the current momentum continues, it could surpass the earlier expected 12% growth in FY24. The current credit momentum is supported by aggressive growth in unsecured loans (incl. PL and Cards) as banks remain pro-risk, while underlying demand trends remain strong. Mortgages growth has moderated a bit amid elevated lending rates, but still remains healthy at 15% YoY and lenders/RE developers are looking at festive cheer for some revival. VF business is also showing a healthy growth trend, with banks now incrementally looking at used car financing business as well with the advent of online platforms. On the corporate front, NBFC and trade segments remain the key growth drivers, but even core sectors like metals and petroleum are showing healthy growth, indicating that growth is now becoming broad-based. Though economists remain divided on capex cycle revival, bankers indicate that the early signs of corporate capex revival are visible and should firm-up in the absence of any macro-shocks. We believe the impact of late weak monsoon on overall credit growth could be limited as current growth is mainly driven by strong urban consumption demand and corporate credit, but need to watch for second order impact in case food inflation spirals up

Market buzz is that PE investors Matrix Partners, TPG Asia & Northwest Ventures, are likely to sell stake up to 8.8 per cent via block deals In Five Star Finance. The floor price has been fixed as ₹724 and deal size is expected to be ₹1,860 crore.

GlaxoSmithKline Pharmaceuticals said that the Assistant Commissioner of State Tax Maharashtra, Mumbai, has today initiated search at certain premises of the company. The business operations of the company continue as usual, it said. The search has started today (Thursday) and hence the impact of this search is not ascertainable at this time, it further clarified.

Aditya Birla Fashion and Retail said that it has completed the acquisition of 1.87 crore shares being 29 per cnet of the Expanded Share Capital (as defined in the letter of offer for the open offer) of TCNS Clothing Co Ltd

BUZZING STOCKS: Automobile stocks, Aditya Birla Fashion, GSK Pharma, Five Star Finance, Godrej Properties, Kirloskar Brothers, Container Corporation of India, Genus Power, India Pesticides, Navneet Education, MSCI-rejigged stocks

The new month is likely to open on a flat note on Friday amid mixed global cues. Analysts expect consolidation phase to continue, amid strong GDP numbers. Gift Nifty city at 19400 indicates a flat opening as Nifty September futures closed at 19414 on Thursday.

Piramal Enterprises hosted its Investor Day on August 28, where the top management reaffirmed its earlier-stated ambition to double FY23 loan AUM by FY28 (₹1.2-1.3 lakh crore) and deliver a consolidated RoA of about 3 per cent. Importantly, the strategy to achieve this medium-term target was also reiterated as being a 70:30 retail to wholesale AUM mix.

IndiaMart InterMesh has a dominant market share in B2B online classified business with around 70 per cent in paid listings. The overall growth in business is led by higher value proposition for sellers and the efficient matching algorithm resulting in higher buyer satisfaction.

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

Astra Microwave Products’ stock has been in a consolidation phase since mid-June, primarily trading within the range of ₹350 to ₹385. Recent sessions witnessed multiple attempts to breach the resistance level at ₹385, with the stock finally breaking through this hurdle and closing at ₹395.8 on Thursday. This breakout signals potential appreciation, hinting at a prospective rally on Friday.

China’s central bank said on Friday it will cut the amount of foreign exchange that financial institutions must hold as reserves for the first time this year, a move seen aimed at slowing the pace of recent yuan depreciation.

The People’s Bank of China (PBOC) said it would cut the foreign exchange reserve requirement ratio (RRR) by 200 basis points (bps) to 4% from 6% beginning Sept. 15, according to an online statement.

The move was to “improve financial institutions’ ability to use foreign exchange funds,” the PBOC said. - Reuters

Asian stocks showed a varied performance following a subdued session on Wall Street. Traders are anticipating Friday’s job report to assess the potential implications for Federal Reserve policy.

Commencing the trading day with a dip, Japanese stocks swiftly regained ground and moved into positive territory on Friday. This shift occurred as investors anticipated significant US job data set to be released later in the day.

During early trading, the benchmark Nikkei 225 index displayed a 0.53 percent increase, equating to 169 points, reaching 32,789. Simultaneously, the more extensive Topix index exhibited a rise of 0.82 per cent, amounting to 19 points, and stood at 2,350.

The preceding night on Wall Street saw declines in both the Dow and S&P 500. Market participants analysed inflation figures and anticipated the forthcoming job data to glean insights into potential future changes in interest rates.

The Dow concluded with a 0.5 per cent decrease, closing at 34,721.91, while the comprehensive S&P experienced a slight 0.2 per cent dip. In contrast, the technology-focused Nasdaq Composite Index made a marginal 0.1 per cent ascent.