Bulk Deal as on 24-08-21

Arvind Fashion
+ 7.23 Lk @ 262.28 Aura Business Venture LLP
- 9.14 Lk @ 261.75 Multiple Private Equity FII

Capacite Infra
- 13.99 Lk @ 142.1 Think India Opportunities Master Fund

Chemplast Sanmar
- 11.94 Lk @ 548.95 Clsa Global Markets Pte
+ 8.92 Lk @ 534.97 Copthall Mauritius Investment Ltd

Crest Ventures
+ 1.67 Lk @ 123.67 Fine Estates Pvt Ltd

Intrasoft Technology
- 79 K @ 112.15 Trust Investment Advisors Pvt Ltd

Sudarshan Chemical
+ 5.89 Lk @ 565 Axis Mutual Fund Ac Axis Small Cap Fund
- 9.80 Lk @ 565.04 Rahul Pradeep Rathi

Promoter of Wabco India to sale 2.01% holding or 3.80 lakh share ( Rs.262cr) through OFC tomorrow and day after tomorrow with Floor price of Rs.6900. post this OFS promoter holding will come down to 75%

Isgec has received a prestigious order for an EPCC Plant for a new Sulphur Recovery Unit (SRU), Tail Gas Treatment Unit (TGTU), new Amine Regeneration Unit (ARU), new Sour Water Stripper Unit (SWS), Sulphur Yard, and Allied Facilities for an oil refinery expansion project. It's the first Integrated EPC Process Plant order in the Refinery Sector for Isgec. The broad scope includes Project Management, Residual Process Design, Detailed Engineering, Procurement, Fabrication, Inspection, Transportation, Storage, Assembly, Construction, Installation, and Testing. Amount Not disclosed. Positive

*1st Ipo of September Announcement*

*BREAKING News*
Vijaya Diagnostic Center Limited file RHP with SEBI on 24-Aug-2021

Issue Date : *1 to 3-Sep, 2021*
OFS : 35,688,064 Shares
Retail : 35%
Employee : 1,50,000 Shares
FV : ₹1

IPO Open : September 1, 2021
IPO Close : September 3, 2021
Basis of Allotment : September 8, 2021
Initiation of Refunds: September 9, 2021
Credit of Shares : September 13, 2021
IPO Listing Date : September 14, 2021.

Dalal & Broacha initiates on heranba inds

Target of 1200-58% upside potential

Beneficiary of china+1
Synthetic pyretheroids-future molecule of agrochem

Present in entire value chain
Mkt share-20% in dom pyretheroid

New molecules launch
US EU entry

Debt free

Why Graphite India, HEG Expect A Much Better Second Quarter

Shares of the makers of graphite electrodes, a key input for steelmaking, have surged in the past year as demand recovered, reversing two years of declines. The companies expect consumption to improve in the ongoing quarter. Prices of electrodes rose in the past year as the global economy recovered from the first round of lockdowns in early 2020. As a result, HEG Ltd. and Graphite India Ltd. Have jumped about threefold in the last year.

Q1 Cements Turnaround Operating income rose for both Indian graphite electrode makers in the quarter ended June. For Graphite India, it surged 35% sequentially, while HEG saw an 18% growth. It was driven by higher prices, which was partly offset by slightly lower electrode volumes during the second wave and higher commodity costs.

Margins are expected to improve substantially in the ongoing quarter due to depletion of high-cost electrode and needle coke inventory, Manish Gulati, executive director at HEG, said in an interview to BloombergQuint. He guided for 10-15% sequentially higher electrode prices and capacity utilisation.

Electrode prices rose 10% for both ultra-high-power and high-power grades in April-June. And he expects another 10-15% rise in the second quarter ending September on rising steel production through electric arc furnaces.

Higher Output, Demand Aid Prices
Prices rose because of higher production in North America, South America, European Union and the Middle East where steel scrap is recycled in electric arc furnaces. The global crude steel production excluding China surged 35.8% over a year earlier and 6.2% from the preceding quarter in the three months ended June, HEG’s management said in a conference call

All major steel-producing countries registered a sequential growth except India, where output declined 4.4% because of the second wave. Domestic demand for steel and electrodes, however, started rising from June as lockdowns were eased.

Demand for steel and electrodes is expected to rise in both domestic and international markets, KK Bangur, chairman at Graphite India, said in an analyst call after April-June earnings. Global crude steel production between January and June surpassed crossed 1,000 million tonnes, up 14% over a year earlier, according to World Steel Association data. The output outside China jumped 18%, while it rose 11% in China. What is encouraging is that the rest of the world steel production has outpaced growth in China, Ravi Jhunjhunwala, chairman, managing director and chief executive officer at HEG, said in an interview to BloombergQuint.

This augurs well as the rest of the world produces nearly half the steel via electric arc furnaces, he said.

The China Factor
Since 2016, China has closed about 300 million tonnes of outdated and highly polluting steel production capacity but around 908 million tonnes remain, according to Graphite India’s presentation. Such units are being replaced by environment friendly electric arc furnaces.

China also abolished 13% value-added tax on certain steel exports to reduce steel production and exports. Lower exports from the nation bodes well for other EAF steel-producing nations.

The nation’s steel exports are expected to fall under the government policy to cut or maintain crude steel output at 2020 levels as part of Beijing's goal to achieve carbon neutrality by 2060.



Other Factors Supporting Steel Output
Growth in EAF steel production globally is expected to drive demand for electrodes in the near term.
India’s increased spending on infrastructure and the revival of key sectors such as construction, mining, capital goods and automobiles will have a positive impact on steel production and electrodes demand.
Withdrawal of customs duty in India on scrap imports

RBI approves re-appointment of Sandeep Bakhshi as ICICI Bank's MD & CEO

https://www.moneycontrol.com/news/business/rbi-approves-re-appointment-of-sandeep-bakhshi-as-icici-banks-md-ceo-7382801.html



Download moneycontrol app: http://m.moneycontrol.com/mom

HDFC Bank divests over 2% stake in CDSL for Rs 223 crore
https://www.businesstoday.in/industry/banks/story/hdfc-bank-divests-over-2-stake-in-cdsl-for-rs-223-crore-305105-2021-08-24

India overtakes US to become second-most sought-after manufacturing destination
https://www.businesstoday.in/latest/economy/story/india-overtakes-us-to-become-second-most-sought-after-manufacturing-destination-305048-2021-08-24

India's GDP likely to grow at 18.5% in Q1FY22: SBI report
https://mybs.in/2Zgke63

#AGR | Relief for Bharti Airtel

#SupremeCourt asks @DoT_India to not encash bank guarantees for 3 weeks


- SC allows #BhartiAirtel to move #TDSAT against DoT's demand to pay #Videocon's AGR dues




@abhhimanyus reports https://t.co/nXe3FC6gVV

*Business News Headlines* 🇮🇳

*Economic Times*

Ø Bank of India plans to raise Rs 3,000 cr equity capital via QIP
Ø Hindalco has $2.5-3 billion capex plans for next 5 years: KM Birla
Ø Infosys becomes 4th most valued company in India to join $100 billion market cap club
Ø NSE-BSE bulk deals: CLSA Global, Copthall Mauritius sell stake in Chemplast Sanmar
Ø FPIs favour cement stocks on better volume visibility
Ø Sebi empanels 16 entities to conduct forensic audit
Ø MSCI CEO dismisses concerns Chinese stocks are ‘uninvestable’
Ø Govt mulls ways to let telcos pay AGR dues over 20 years
Ø Rajratan gains from tyre demand surge, import curbs
Ø Continuum Energy's founders keen to buy Morgan Stanley’s stake in firm
Ø Punjab & Sind Bank sets off accumulated losses of Rs 3,577 cr

*Business Standard*

Ø Adani Total Gas buys 50% stake in gas meter manufacturing firm
Ø Arvind Fashions raises Rs 439 crore from investors, promoters
Ø Govt decision on raising tariffs fails to unite telecom companies
Ø Eicher Board to meet over MD's salary as shareholders reject re-appointment
Ø GMR group unveils plans to modernise Nagpur Airport after HC ruling
Ø Unfreeze Zee Entertainment insider trading accounts: Bajaj Finance to Sebi
Ø FMCG market in India expands 37% in April-June quarter: Nielsen
Ø ITC to invest $2 billion across segments in medium-term, says MD
Ø NTPC commissions 15 MW floating solar capacity at Andhra's Simhadri
Ø ICRA revises GE Power India's outlook to negative from stable

*Financial Express*

Ø FinMin exploring insurance bonds as alternative to bank guarantees
Ø REITs, InvITs to be included in Nifty indices from Sep 30
Ø Govt mulls permitting foreign investment in LIC
Ø Chris Wood raises India weight by pruning China exposure; remains bullish despite lofty valuations
Ø Almost 52% IPO investors sold shares on listing day in Apr-Jul FY22
Ø NSE warns against unregulated derivative products
Ø Zomato invests over $100 million in Grofers
Ø FPIs pump in Rs 7,245 crore in Aug

*SGX Nifty +60 pts (16676) from last trade 16616*

Nikkei +66 pts
Hangseng +202 pts
Now @7.00am

Dow +30.55 pts ,Nsdq +77.15 pts, S&P +6.70 pts, Bovespa +2739 pts , Ftse +16 pts  , Dax +53 pts , Cac -18 pts , Crude @ $67.46 brl (-0.10), Brent @ $71.05 brl (-0.13) , Gold @ 1803.90 (-4.60), Silver @ $23.855 (-0.03), Euro @ $1.1752, JPY @ $109.70,  INR @ 74.145

*Today's Corporate Action*
*25th  Aug Ex Date*
ACE
Final Dividend - Rs. - 0.5000
DBCORP
Interim Dividend - Rs. - 2.0000
DCMSRMIND
Final Dividend - Rs. - 2.5000
FERMENTA
Final Dividend - Rs. - 2.5000
HIKAL
Final Dividend - Rs. - 1.0000
KAKATCEM
Final Dividend - Rs. - 3.0000
KANPRPLA
Final Dividend - Rs. - 1.8000
POLYPLEX
Interim Dividend - Rs. - 33.0000
STARCEMENT
Buy Back of Shares
TANFACIND
Interim Dividend - Rs. - 3.5000
TOWERINFRA
Income Distribution (InvIT)
TVSSRICHAK
Dividend - Rs. - 30.0000

*Today's Key Results/Board Meetings*
*25-Aug-21*
ADJIA
General
ADVAIT
A.G.M.;General
ASHAI
General
DECIPHER
A.G.M.;General
DESHRAK
A.G.M.;General
DYNAMIND
A.G.M.;General
FILATEX
Preferential Issue of shares
HAZOOR
A.G.M.
KDML
A.G.M.
KEL
A.G.M.
KSCL
Buy Back of Shares
MAHASTEEL
General
PACT
A.G.M.;General
PGHH
Audited Results;Final Dividend
POPULARES
General
RAJOOENG
General
SABOOBR
A.G.M.;General
SCANSTL
A.G.M.
SHINEFASH
Audited Results
SHRIBCL
A.G.M.;General
SSLFINANCE
A.G.M.;General
STERPOW
A.G.M.;General
SWASTIVI
General
SWORDEDGE
General
TITANBIO
A.G.M.
TITANSEC
A.G.M.
TMRVL
Audited Results;Quarterly Results
TNTELE
Quarterly Results
VIKASLIFE
A.G.M.;General;Rights Issue

*Stock under F&O ban on NSE*
*25-Aug-21*
1CANBK
2IDEA
3NMDC
4SAIL

*Chris Wood raises India weight by pruning China exposure*

Chris Wood, global head Jefferies has increased India weightage in his Asia Pacific portfolio. Sensex and Nifty are now less than 1% away from their all-time highs, recouping losses this week. "GREED & fear remains structurally positive on the Indian market despite the lofty valuation at 21.5 times 12- month forward earnings which creates a certain vertigo," Chris Wood said in his weekly newsletter. "A new property cycle has commenced, a broader capital spending cycle should be coming sooner or later while the best companies have profited from deleveraging triggered consolidation in sectors like residential property and housing finance and indeed consumer finance in general," . The pro-growth stand taken by the central government is also counted as a positive by the market strategist.

Risks seen ahead for Indian stock markets include the arrival of a new covid-19 variant, but that is a risk the country shares with the rest of the world. Meanwhile, the other risk stems from any change in RBI's policy stance. The Reserve Bank of India raised its inflation forecast recently but is yet to signal a change in policy. The RBI raised its CPI inflation forecast for this fiscal year to 5.7% in its policy meeting in August, up from 5.1% projected in June. Still, the RBI's bond purchases under the Open Market Operations (OMO) programme have continued while there is no talk as yet of rate hikes. RBI has reiterated its support for the growing economy over the last few months.

Restating his bullish views on the Indian stock market, Chris Wood added that India is likely to underperform in any global risk-off move triggered by tapering scares. With India's outperformance and China's underperformance, the former's overweight in the Asian Portfolio has become Neutral. Keeping this in mind, Chris Wood has increased India's weight by two percentage points with the money shaved from China and Hong Kong. "If India corrects more sharply in an aggravated tapering scare, the weighting will be added to. Meanwhile, China would be a natural outperformer in a tapering scare were it not for the continuing regulatory noise," Chris Wood added.

*Stocks in Asia Portfolio*

India's weight in the Asia Portfolio is 14% against MSCI AC Asia Pacific ex-Japan weighting of 11.1% - a 2.9% mismatch from the benchmark. Some of the Indian stocks in the Asia Portfolio include:

Reliance Industries, HDFC, ICICI Prudential Life Insurance, ICICI Lombard General Insurance, Godrej Properties, and ICICI Bank.

*Good Morning*
• India Rate Panel’s Stance Needs to Change as Risks Fade: Varma
• India’s Top Court Allows Airtel to Move Tribunal on AGR Dues
• India Is Said to Consider Allowing FDI in Life Insurance Corp
o LIC is headed for what could be India’s biggest ever IPO
• Hyundai India to Launch Mass-Market EV in a Few Years, CEO Says
• India Allows Import of 1.2M Tons of Genetically Modified Soymeal
• Patchy Indian Monsoon Set to Cheer Palm Traders 3,000 Miles Away
• India Cumulative Monsoon Rainfall 9% Below Normal as Aug. 24
• India’s Key Equities Gauges Surge to New Records as Metals Rally
• Global Funds Sell Net INR16.45b of India Stocks on Tuesday: NSE
o Domestic funds sell net 23.8b rupees of stocks
• Foreign Investors Sell Net INR13.55b of India Equities on Aug. 23
• Foreigners Sell Net INR10.2B of India Equity Derivatives Tuesday
• Gold Climbs to Two-Week High as Fed Tapering Timeline in Focus
• FM to meet CEOs of public sector banks on Wed: PTI
• ‘The Ashok’ to be leased out to private cos, 7 other ITDC hotels to be monetised in 4 yrs: PTI
• Indian pharma exporters stare at Afghan uncertainty; $126 Mn target in FY22 on blink: PTI
• Centrum Capital (CECA): To transfer 2 units to planned small finance bank
• Canara Bank (CBK): Discloses 1.5% Holding by Billionaire Jhunjhunwala
• Power Finance Corp. (PFC): In pact with NHPC to lend for hydro project development
• Tata Steel (TATA): Says Brickwork revised rating to AA+ with stable outlook
• Wabco India (WIL): Floor price for OFS has been set at 6,900 rupees a share
• Wipro (WPRO): Announces opening of new delivery center in Arkansas, to invest about $3m on a 70,000 sqft facility; to hire 400 employees in 2-yr

REITs, InvITs to be part of Nifty indices from September 30: NSE
https://mybs.in/2Zgl7lP

－shared via Business Standard iPhone App

Tata Power Renewable Commissions 150 MW Rajasthan Solar Project
Tata Power Renewable Energy Ltd, 100% subsidiary of Tata Power Co Ltd., announced commissioning of 150 MW solar power project in village Loharki in Rajasthan.

According to an exchange filing by the company, the project has been completed within the stipulated timelines and plant would generate more than 350 million units annuals.
The project is expected to result in a reduction of 3.34 lakh tons of carbon emission every year.

BLS INTERNATIONAL: CO LAUNCHES IMMIGRATION CONSULTANCY FOR CANADA

CO WILL LEVERAGE ITS NETWORK IN DOMESTIC AND INTERNATIONAL MARKETS

*Adani Ports & SEZ*

Company's proposal to acquire 10.4% stake for Rs 644.78 crore of Gangavaram Port Ltd. from the Andhra Pradesh government has received approval from the state's maritime board. The transaction is expected to complete within a month.