Government May Allow 8 Million Tons Sugar Exports Over Few Tranches….Expects positive for sugar stocks like Balrampur Chini, Renuka Sugar, EID Parry
·         India, the world’s second-biggest sugar producer, is considering allowing mills to export 8 million tons of the sweetener over a few tranches next season
·         The government is discussing a request from the Indian Sugar Mills Association to allow that amount of exports in 2022-23, down from an estimated 11.2 million tons in the current
marketing year.
·         Expects positive for sugar stocks like Balrampur Chini, Renuka Sugar, EID Parry

Shares of India Auto-Linked Stocks Advance 5-10% Today on Positive Outlook…Strong August sales  data and easing chip shortage lifted Auto Ancillary  
·         Share of auto-component and battery makers advance as strong August auto sales and easing chip shortage issues improves outlook for the sector. 
·         Schaeffler India intra-day rises as much nearly 10% , Tube Investments intra-day gained over 9%, both Amara Raja Batteries and Exide Industries gained 6% each while Motherson Sumi Wiring gains as much as 3%.
·         Positive on Ceat, Amara Raja Batteries, Exide Industries, Motherson Sumi Wiring
 

*MID-DAY UPDATE:*

Rupee consolidated in a narrow range despite the dollar rising to a 30-year high

Gains in the dollar extended after non farm payrolls number released from the US came in better-than-estimates

Euro and pound opened lower as the strength in the dollar continued

On the domestic front, trade balance number too was released on Friday but was disappointing

We expect the USDINR(Spot) to trade sideways with a positive bias and quote in the range of 79.40 and 80.05

Dish TV Jumps 20%; Trading Volume Surges
 
·         Shares of Dish TV India rose 20%. Trading volume is nearly seven times the 30-day average.
·         Share price crossed above 200-day simple moving average, indicating potential upward price momentum.
·         The stock is the top gainer on the Nifty Media index which is up 2%.

China cuts forex reserve requirement ratio in bid to support tumbling yuan
 
·       China slashed the amount of foreign-exchange deposits banks need to set aside as reserves for the second time this year to boost the yuan after the currency hit a fresh two-year low.
·       Financial institutions will need to hold 6 per cent of their foreign-currency deposits in reserves starting from Sept. 15, the People’s Bank of China said in a statement on Monday-- lower than the current level of 8 per cent. The move is expected to increase the supply of foreign currencies, thereby making it more appealing for traders to buy the yuan.
·       The yuan slid as concerns over monetary-policy tightening in the US and a deepening energy crisis in Europe bolstered the dollar.

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Global Market Update - European Stocks, Euro Sink as Energy Woes Worsen…US Dow Future surges over 100 points …Oil price gain after OPEC+ roll back some production cut
 
·       European stocks slumped and the euro fell as the region’s worsening energy crisis added to risks for a global economy already facing high inflation and a wave of monetary tightening. Both Germany and France Index declined 2% and 1% respectively while UK Index bounced back into positive territory.
·       OPEC and allied oil-producing countries, including Russia, made a small trim in their supplies to the global economy today . The decision for October rolls back a mostly symbolic increase of 100,000 barrels per day in September. Brent Crude gained 4% to above $96/bbl
·       Gold was steady at $1711/ounce as mounting concerns over a worsening energy crisis in Europe drove investors to the greenback over the euro
·       US Dow Jones Future is up 0.4%. US Market is shut today
·       FIIs were net sellers Rs812cr while DIIs were net buyers Rs534cr

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News and Impact
 
·       Expect rally may continue Indian bourses due to strong factor and smart gain in the US Future and positive opening Asian market. Better than expected August Service PMI data, strong August monthly auto sales data, impressive micro and above normal monsoon will be positive for the market sentiment. India’s services industry PMI reported during the month of August owing to a robust to 57.2 in August from 55.5 in July, surpassing the estimate of Reuters poll. SGX Nifty is up by 35 points or 0.2% and US Dow Future surged by 200 points. Brent crude gained 4% to $97/bbl after the OPEC+ cut their supplies to the global economy by 1lakh/bbl ls per day cut for the first time in more than a year. People Bank of China reduced the amount of foreign-exchange deposits banks need to set aside as reserves for the second time this year to boost the yuan after the currency hit a two-year low. Officials in China also plan to speed up stimulus, stepping up support for an economy saddled with Covid lockdowns. Expect stock specific action continue and traders buy on dips strategy in the market – focus on IT and PSU Banks.
 
·       Stocks in Asia rose along with US equity futures on Tuesday despite expectation of US central banks tighten monetary policy. Shares advanced half percent in Japan, Australia, Hong Kong and South Korea. China reduced the amount of foreign-exchange deposits banks need to set aside as reserves for the second time this year to boost the yuan after the currency hit a two-year low.
 
·       European stocks slumped and the euro fell as the region’s worsening energy crisis added to risks for a global economy already facing high inflation and a wave of monetary tightening. Both Germany and France Index declined 2% and 1% respectively while UK Index bounced back into positive territory.
 
·       Brent Crude gained 4% to above $96/bbl after OPEC and allied oil-producing countries, including Russia, cut their supplies to the global economy by 100,000 barrels per day cut for the first time in more than a year.
 
·       Gold rose 1% to $1718/ounce as the dollar eased and the outlook for inflation on the back of higher energy costs outweighed an expected European Central Bank rate hike.
 
·       Actionable – Induan Hotel, Motherson Sumi Wiring, CDSL, Dixon Tech, Apollo Tyre
 
·       Brokers Radar – Reliance Industries TGT by Credit Swiss at 2510, Bharti Airtel TGT by Credit Swiss at 900, Citi on Steel sector – JSW Steel TGT at 600 and Tata Steel TGT at 125, Macquarie TGT on HDFC Bank at 2005 and HDFC Ltd TGT at 2960, Bank of America TGT on Manappuram Finance at 130, Morgan Stanley TGT on Apollo Tyres at  329, ABB Cut outperform by Credit Swiss with TGT at 2600
 
·       Corporate Action – Banco Products Rs20, Vinati Organics Rs6.50, GAIL Ex-bonus in the ratio of 1:2, Kamdhenu de-merger, Dangee Dumps bonus 1:2 and stock split from Rs10 to Re1.
 
·       Events -  Dream Folks IPO listing – Expected price Rs441 (IPO price Rs326 + Premium Rs115), Pfizer board meeting for dividend.
 
·       Global Data - Service PMI and Composite PMI data. Wednesday – Mortgage Application and Trade Balance. Thursday – Initial Jobless Claims. Friday – Wholesale Inventories and Consumer Credit. Factory Orders, Construction PMI (Germany), Construction PMI (UK), Trade Balance (Germany).
 
·       Market Summary – NTPC to buy Avantha's Jhabua Power, its first acquisition under the IBC, Dixon Tech on Sub-Licensing Rights for Android, Google TV, Vodafone Idea on Report of Short-Term Debt Prepayment, Services industry PMI expands in August; hiring at over 14-yr high, HAL-L&T wins order to build PSLV rockets, PTC India to set up plant in Nepal; to supply power to India, Bangladesh, IEX Books 18% Drop in Volume of Electricity, Adani Can Bid for Indian Ports Projects in Future: Top Court.
 

·       NTPC has acquired the stressed Jhabua thermal project (600Mw) of Gautam Thapar-owned Avantha Group, through the Insolvency and Bankruptcy Code (IBC) process worth Rs1830cr – positive at a cheap price.
 
·       Expects momentum on Entailment stocks ahead of new release movie – Expects momentum on entitlement major PVR and Inox ahead of new Hindi Movie Brahmastra
 
·       Dixon Technologies gets sub-license rights for Android and Google TV.  The new partnership will enable the company to offer a cost effective, high quality experience to its existing customers and potential new brands, Dixon said in a statement – positive
 
·       Hindustan Aeronautics -L&T consortium has won a Rs 860 crore deal from NewSpace India Limited to build five rockets.  After the techno-commercial evaluation of three bids, HAL-L&T consortium had emerged as the technically qualified and the L1 bidder to undertake end-to-end production of PSLV. – positive
 
·       V-Mart Retail: HSBC Bank Mauritius on Monday offloaded 13.91 lakh shares of retail company V-Mart Retail for ₹392 crore through an open market transaction.- Any sharp decline ill buying opportunity
 
·       Aditya Birla Fashion: Aditya Birla Fashion Retail Ltd (ABFRL) could surpass its target of reaching ₹21,000 crore in annualized revenues by 2026, and achieve higher milestones for the business going forward, chairman Kumar Mangalam Birla said. - positive
 
·       Tata Consumer: Tata Consumer Products Ltd will keep growing its existing brands of foods and beverages as it continues to scout for acquisitions, said Ajit Krishnakumar, chief operating officer at the company – positive
 
·       Adani Enterprise: The Adani Group said its companies have reduced their debt burden, as the empire backed by Asia’s richest person sought to rebut a report saying its finances had become stretched. – positive
 
·       PTC India will set up a power trading company in Nepal, which will supply electricity to India and Bangladesh. This will first for an Indian power firm to set up in Nepal and the move will boost the Centre's aim to build a South Asia-focused energy security architecture . – Positive
 
·       Vodafone Idea– Media reported that the Vodafone Idea has prepaid a short-term loan of Rs2700cr to SBI.  The payment is a bid to shore up lenders’ confidence as the company urgently seeks funds to tie-up equipment supply deals for 5G networks and clear some of its Rs15000 in trade payables – ET – News is positive but poor balance sheet is a concern - Avoid
 
·       Services industry PMI expands in August; hiring at over 14-yr high - India's services industry increased at a quick pace in August owing to a robust expansion in demand and a continued easing in cost pressures, encouraging firms to hire at the quickest pace in more than 14 years, a report by S&P Global India Composite showed. The S&P Global India Services Purchasing Managers' Index rose to 57.2 in August from 55.5 in July, surpassing the 55.0 estimate in a Reuters poll. – Positive for the market sentiment
 
·       Tata Motor August JLR sales at down 68.2% (MoM) at 1935 unit while up 3.4% (YoY) – We are long term positive
 
·       Indian Energy Exchange said the volume of electricity traded on its platform in August fell 18% (YoY) to 7,805 gigawatt-hours. The real-time electricity market traded a monthly volume of 2,265 GWh in August, up 22% year on year. – We are long term positive
 
·       AstraZeneca India announced its partnership with Alveofit, a SaaS-IoT enabled respiratory healthcare platform, to offer IoT enabled handheld spirometers at hospitals across the country. – positive
 
·       Lyka Labs to sell land at Valsad and premises at Mumbai. Company says that the to use asset sale proceeds for capex, working capital – positive  
 
·       August Composite PMI reported 9-month high at 58.2 against 56.6 previous month – Positive for the market sentiment
 
·       PG Electroplast completed the acquisition of a 15.2% stake in Solarstream Renewable Services. In May, the company agreed to acquire an additional 5.

1% stake in Solarstream Renewable to take its total shareholding in the latter to 15.2% for 1.5cr – positive
 
·       Adani Port - Supreme Court allowed Adani Ports to bid for port projects in future, although the company cannot claim rights on its bids for two port projects in Visakhapatnam and Jawaharlal Nehru Port near Mumbai on western coast.  Adani’s disqualification for Visakhapatnam port project will not be used for disqualification of its future bids, the court ruled – Negative
 
·       Reliance Power signed a pact with Varde Partners to raise as much as Rs1200cr in debt.  The funds will be used to refinance existing debt of Reliance Power; drawdown pending finalization and execution of binding documents and approvals – Avoid on account of poor balance sheet – Avoid due to poor balance sheet.
 
·       Narayana Hrudayalaya has signed a Business Transfer Agreement with Shiva and Shiva Orthopaedic Hospital Pvt to acquire its Orthopedic and Trauma Hospital at Bengaluru as a going concern on slump sale basis for aggregate cash consideration of Rs200cr – positive
 
·       India Bull Housing has announced the public issue of secured, redeemable, non-convertible debentures with a face value of Rs1,000 each. The opening and closing dates for the Tranche II Issue are Monday, September 5, 2022, and Thursday, September 22, 2022. – positive
 
·       Aurionpro acquires US-based startup Hello patient solution. Hello Patients provides a healthcare billing and patients' management solution that leverages Aurionpro's technology for payments processing. Aurionpro Fintech Inc. provides technology platform to payments service providers in USA.- positive
 
·       IndiGo adds 6 new flight between India and middle east – positive
 
·       Skipper Limited one of the world's leading manufacturers for Power Transformer & Distribution structures,Telecom and Railway structures company has secured fresh new order of Rs 225 crores for several Domestic & International T&D projects including Telecom -positive
 
·       Bank of Baroda - BoB Financial and Snapdeal Launch Co-Branded JCB RuPay Contactless Credit Card – positive
 
·       ICICI Bank - Up to Rs10,000 crore in infrastructure bonds is anticipated to be raised by private sector lender ICICI Bank for infrastructure project financing and financing of affordable housing projects. - positive
 
·       Waaree Technologies have approved the acquisition of the Lithium Battery Business Undertaking from related party WAAREE ESS Pvt Ltd together with all its assets and liabilities. – Positive
 
·       Federal Bank said that the media report suggesting the bank’s merger with Kotak Mahindra Bank as Speculative.- We are long term positive on Federal Bank and Kotak Bank
 
·       GAIL India has emerged as the highest bidder for the acquisition of debt-ridden JBF Petrochemicals, with an Rs1,800-crore resolution plan that is the finest of the three proposals submitted for the insolvent business at the expiry of the August 30 bid deadline, stated sources. – Media report
 
·       Kreon Finnancial informed that its loan distribution business consistently witnessed accelerated growth with disbursements through its platform. The number of loans disbursed in August 2022 jumped 348.13% year on year, while the value of loans disbursed climbed 350.67% on a y-o-y basis. – positive
 
·       WardWizard Innovations has incorporated a Wholly Owned Subsidiary Singapore in the name and style of “WARDWIZARD GLOBAL PTE. LTD.” which is in to manufacturing of secondary batteries etc. – positive
 
·       KPI Green Energy is adding a power project to its own power-generating asset portfolio. The company is seeking to develop a Hybrid Power Project of 16.10 MW, which comprises 16.10 MW wind and 10 MWdc solar capacity. – positive
 
·       Reliance Industries is in talks to purchase brands from CavinKare; Garden Namkeens; in addition to other brands like Lahori Zeera and Bindu Beverages. In a deal worth an estimated Rs22cr.  Reliance purchased the soft drink brand Campa from the Delhi-based Pure Drinks Group.

– positive
 
·       Gensol Engineering has achieved a major milestone in the manufacturing of EVs, as part of its Advanced Product Quality Planning (APQP) process. – positive
 
·       HDFC Bank and SBI intend to raise up to 10,000 crore together this week through sales of perpetual bonds, citing burgeoning credit demand in a recovering economy that is currently the fifth largest in the world. – positive
 
·       Orient Bell - India Ratings & Research (Ind-Ra) has assigned a Short-Term Credit Rating of IND A1 to Orient Bell Limited’s facilities - to CRISIL A/Stable and CRISIL A1 -  positive
 
·       Olectra Greentech Limited has received Letter of Award from one of the State Transport Corporations for 100 Electric Buses worth Rs151cr – positive
 
·       Coal India and captive mines/others registered a growth of 8.49% and 27.1% by producing 46.22 MT and 8.02 MT respectively – positive.
 
·       WardWizard Innovations, country's leading electric two-wheeler brand 'Joy e-bike,' sold 1,729 units in August 2022. Comparatively, the company sold 2,001 electric two-wheelers in August of last year (2021) – positive
 
·       NMDC - By the end of March, the government is anticipated to release a request for proposals for the strategic sale of NMDC's Nagarnar Steel Plant, according to a government official quoted by PTI.- Positive
 
·       Wockhardt - CARE Ratings Li (CARE Ratings) has reaffirmed Wockhardt Limited's Ratings for:  Long-Term Bank Facilities as "CARE BBB-; Stable"

Bank Nifty opened flattish but managed to hold its opening zones and headed towards 39850 zones. It was followed by a consolidative move in the second half of the session but held on to its gains for the entire day.

Long built up was seen as OI was up (10.52%) and Price was up (0.96%). Last week on week (Thursday close to Monday) OI change comes to 10.6% with price change by 1.2%.

FIIs Long Short increased to 22.78%.

Bank Nifty Put Call Ratio rose from 0.93 to 0.96.

SGX indicates a flattish start and Dow was shut.
*Important support level : 39250*
*Important resistance level : 40250*
*Broader trading range : 39250/39500 to 40000/40250 zones.*

Billionaire Gautam Adani is looking for a new leader for his mergers and acquisitions strategy as the incumbent chief will soon take a new role within the Group.

https://www.livemint.com/news/india/gautam-adani-searching-for-new-mergers-and-acquisitions-chief-report-11662430435083.html

#MarketsWithBS | From DreamFolks to NTPC, here are the stocks to watch in today's trade

#StockMarket #markets #StocksInFocus #stockstowatch #StockMarketindia
https://mybs.in/2b0YFYp

Shree Renuka Up over 6%, Most in 10 Weeks; Trading Volume Surges

·         Shree Renuka Sugars rose over 6%. Trading volume was six times the average for this time of day.  The shares increased to Rs51, higher than any close since June 10, from Rs48.
·         Trading volume was 1.3cr shares, six times the 20-day average of 21 lakh shares for this time of day.

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