Global-Market Insights
-All US indices closed at an all-time high on Friday
-S&P500 crossed 4500 and Nasdaq above 15000
-US Fed Chair said that Fed might start paring bond purchases this year but is in no hurry to raise interest rates and would be guided by data
-Brent crude oil jumped 2.5% to $73 on fed commentary
-Crude oil may see huge rally considering tech data
-Hurricane Ida hits Louisiana at 241 Km/Hr, power outages and pouring rains may cost billions of dollars.
-All US indices closed at an all-time high on Friday
-S&P500 crossed 4500 and Nasdaq above 15000
-US Fed Chair said that Fed might start paring bond purchases this year but is in no hurry to raise interest rates and would be guided by data
-Brent crude oil jumped 2.5% to $73 on fed commentary
-Crude oil may see huge rally considering tech data
-Hurricane Ida hits Louisiana at 241 Km/Hr, power outages and pouring rains may cost billions of dollars.
DOW JONES UP 243
NASDAQ UP 284
DOW FUTURE UP 05
NASDAQ FUTURE UP 08
SGX NIFTY UP 99
NASDAQ UP 284
DOW FUTURE UP 05
NASDAQ FUTURE UP 08
SGX NIFTY UP 99
*India Special Situations: Rights Issue: Bharti Airtel (BHARTI IN) CMP INR 595 | Rights Price INR 535*
*Issue Size:* INR210bn
*Rights issue Price:* INR 535/share
*Rights ratio:* 1:14 (1 share for every 14 shares held)
*Structure:* Partly Paid Up
*Terms of payment :* 25% on application and balance in two more calls as may be decided by the Board / Committee of the Board within 36 months.
*Our View*
-A 'Special Committee of Directors' has been constituted to decide the other terms and conditions of the issue including Issue period and the Record date. *We expect the issue to go Ex in a month’s time frame.*
*-Partly paid up rights issue will offer holders like Passive, Active fund managers and Arbitrageurs a wide set of options to enhance yield. We have jotted down the various options below.*
*-Passive (Index/ETF) managers:* BHARTI is a part of MSCI, FTSE, NIFTY50 and SENSEX30 indices. As indices don’t permit to retain partly paid rights, passive managers will have to sell the renunciation forms (RR-forms) when the window for trading starts. From an intention of hedging, prior to the Ex-date (a day before), Index/ETFs can proportionately sell the shares based on the rights ratio (E.g. a holder of 15,000 shares should sell 1,000 shares on the day before it goes Ex in order to lock in the price for 1000 Rights that will get credited. Post selling, the shares in portfolio will be 14,000 shares which will entitle one to 1,000 Rights. Now on listing of the RR-Forms, unwind the position by selling the RR-Forms and buying back the 1000 shares in order to realign the number of BHARTI shares in the Index/ETF. In an event where the stock corrects at the time of trading of RR-Forms, the loss on the RR-Form will be compensated by buying BHARTI shares at lower price and vice versa).
*-Active managers:* Similar to RILPP IN, BHARTI partly paid up will offer holders an opportunity to hold BHARTI at lower value in the portfolio as against the fully paid up shares. The unpaid value on partly paid shares can be deployed elsewhere.
*-Arbitrageurs:* As an arbitrageur an efficient way to handle exiting position is unwinding position before the issue goes Ex if futures are trading at discount or par also as rights don’t add any additional benefit in a pure arbitrage strategy. However if one wishes to carry forward the position (if unwinding is not possible due to size or futures trading at premium), then one needs to sell additional futures on or before ex-cum-date. After the RR-Forms start trading, one can also explore arbitrage opportunities based on the carry available with relevant month futures.
*IIFL Alternative Research*
*Issue Size:* INR210bn
*Rights issue Price:* INR 535/share
*Rights ratio:* 1:14 (1 share for every 14 shares held)
*Structure:* Partly Paid Up
*Terms of payment :* 25% on application and balance in two more calls as may be decided by the Board / Committee of the Board within 36 months.
*Our View*
-A 'Special Committee of Directors' has been constituted to decide the other terms and conditions of the issue including Issue period and the Record date. *We expect the issue to go Ex in a month’s time frame.*
*-Partly paid up rights issue will offer holders like Passive, Active fund managers and Arbitrageurs a wide set of options to enhance yield. We have jotted down the various options below.*
*-Passive (Index/ETF) managers:* BHARTI is a part of MSCI, FTSE, NIFTY50 and SENSEX30 indices. As indices don’t permit to retain partly paid rights, passive managers will have to sell the renunciation forms (RR-forms) when the window for trading starts. From an intention of hedging, prior to the Ex-date (a day before), Index/ETFs can proportionately sell the shares based on the rights ratio (E.g. a holder of 15,000 shares should sell 1,000 shares on the day before it goes Ex in order to lock in the price for 1000 Rights that will get credited. Post selling, the shares in portfolio will be 14,000 shares which will entitle one to 1,000 Rights. Now on listing of the RR-Forms, unwind the position by selling the RR-Forms and buying back the 1000 shares in order to realign the number of BHARTI shares in the Index/ETF. In an event where the stock corrects at the time of trading of RR-Forms, the loss on the RR-Form will be compensated by buying BHARTI shares at lower price and vice versa).
*-Active managers:* Similar to RILPP IN, BHARTI partly paid up will offer holders an opportunity to hold BHARTI at lower value in the portfolio as against the fully paid up shares. The unpaid value on partly paid shares can be deployed elsewhere.
*-Arbitrageurs:* As an arbitrageur an efficient way to handle exiting position is unwinding position before the issue goes Ex if futures are trading at discount or par also as rights don’t add any additional benefit in a pure arbitrage strategy. However if one wishes to carry forward the position (if unwinding is not possible due to size or futures trading at premium), then one needs to sell additional futures on or before ex-cum-date. After the RR-Forms start trading, one can also explore arbitrage opportunities based on the carry available with relevant month futures.
*IIFL Alternative Research*
🔹 • Bharti to Raise $2.85 Billion as It Gears Up for 5G Rollout (1)
• India to Ration Coal Supplies to Power Plants as Demand Surges
o Govt to cut shipments to stations with high inventories
• U.S. Secretary Blinken Spoke with India’s EAM Jaishankar to discuss shared priorities
• SEBI Restrains Kotak AMC From Launching New Fixed-Maturity Plans
• Israel’s Phinergy Agrees Cooperation Pact With Tata Motors
• JetBlue Airways Adds Most Flights YOY Among Top Airlines
• India Forex Reserves Fall $2.47b to $616.9b in Week to Aug. 20
• Shopify Eases Talent Pinch as App Developers Map Way to Millions
• India’s Sensex Climbs to Fresh Record With Larsen Pacing Gains
• Poor Monsoon May Hurt India Oilseed and Cotton Output, NCML Says
• India Cumulative Monsoon Rainfall 10% Below Normal as of Aug. 27
• Global Funds Sell Net INR7.79B of Indian Stocks on Aug. 27: NSE
o Domestic funds buy net 16.5b rupees of stocks
• Global Funds Sell Net INR22.6B India Shares on Aug. 26
• Foreigners Buy Net INR21.2B of Indian Equity Derivatives Aug. 27
• Carlyle’s $3B Offer for Hexaware Likely to Succeed, PTI Reports
• Start-up culture now vibrant in India: PM Modi: PTI
• Tesla in Talks With Indian Firms for Parts: Economic Times
• Gold bond issue price fixed at Rs 4,732/gm; subscription opens Monday: PTI
• India’s macroeconomy more healthy, ready for faster growth, says economist Ashima Goyal: PTI
• Tata Steel to invest INR80b in capex on India operations during FY22: CEO Narendran: PTI
• Google in Talks to Invest in India’s Bharti Airtel, TOI Reports
• India’s Future files new case against Amazon in top court: Reuters
• Bharti Airtel (BHARTI): To raise INR210b ($2.85b) via rights share issue; offers 1 shares for every 14 held at 535/shr
• Burger King India (BURGERKI): To buy Up to 85% in Burger King Indonesia
• Cipla (CIPLA): UCB, University of Iceland sue Cipla to block Nayzilam copies
• IDBI Bank (IDBI): Approves plan sale of 19.18% stake in Arcil
• Mahindra & Mahindra (MM): Mahindra Defence gets 13.5b rupee contract for Indian Navy
• Manappuram Finance (MGFL): Says considering various options for debt fund raising in September
• Max Healthcare (MAXHEALT): Max Health: Latest Hospital Will Create Contiguous Hub in Delhi
• Max Healthcare (MAXHEALT): Acquires rights to help develop hospital; latest hospital will create contiguous hub in Delhi
• Nazara Technologies (NAZARA): Acquires 100% of skill gaming platform Openplay for 1.86b rupees
• RBL Bank (RBK): Says online banking system down due to technical issue
o RBL Bank Says Online Banking System Glitch Gets Resolved
• Vedanta (VEDL): To consider first mid-year dividend for FY22 on Sept. 1
• India to Ration Coal Supplies to Power Plants as Demand Surges
o Govt to cut shipments to stations with high inventories
• U.S. Secretary Blinken Spoke with India’s EAM Jaishankar to discuss shared priorities
• SEBI Restrains Kotak AMC From Launching New Fixed-Maturity Plans
• Israel’s Phinergy Agrees Cooperation Pact With Tata Motors
• JetBlue Airways Adds Most Flights YOY Among Top Airlines
• India Forex Reserves Fall $2.47b to $616.9b in Week to Aug. 20
• Shopify Eases Talent Pinch as App Developers Map Way to Millions
• India’s Sensex Climbs to Fresh Record With Larsen Pacing Gains
• Poor Monsoon May Hurt India Oilseed and Cotton Output, NCML Says
• India Cumulative Monsoon Rainfall 10% Below Normal as of Aug. 27
• Global Funds Sell Net INR7.79B of Indian Stocks on Aug. 27: NSE
o Domestic funds buy net 16.5b rupees of stocks
• Global Funds Sell Net INR22.6B India Shares on Aug. 26
• Foreigners Buy Net INR21.2B of Indian Equity Derivatives Aug. 27
• Carlyle’s $3B Offer for Hexaware Likely to Succeed, PTI Reports
• Start-up culture now vibrant in India: PM Modi: PTI
• Tesla in Talks With Indian Firms for Parts: Economic Times
• Gold bond issue price fixed at Rs 4,732/gm; subscription opens Monday: PTI
• India’s macroeconomy more healthy, ready for faster growth, says economist Ashima Goyal: PTI
• Tata Steel to invest INR80b in capex on India operations during FY22: CEO Narendran: PTI
• Google in Talks to Invest in India’s Bharti Airtel, TOI Reports
• India’s Future files new case against Amazon in top court: Reuters
• Bharti Airtel (BHARTI): To raise INR210b ($2.85b) via rights share issue; offers 1 shares for every 14 held at 535/shr
• Burger King India (BURGERKI): To buy Up to 85% in Burger King Indonesia
• Cipla (CIPLA): UCB, University of Iceland sue Cipla to block Nayzilam copies
• IDBI Bank (IDBI): Approves plan sale of 19.18% stake in Arcil
• Mahindra & Mahindra (MM): Mahindra Defence gets 13.5b rupee contract for Indian Navy
• Manappuram Finance (MGFL): Says considering various options for debt fund raising in September
• Max Healthcare (MAXHEALT): Max Health: Latest Hospital Will Create Contiguous Hub in Delhi
• Max Healthcare (MAXHEALT): Acquires rights to help develop hospital; latest hospital will create contiguous hub in Delhi
• Nazara Technologies (NAZARA): Acquires 100% of skill gaming platform Openplay for 1.86b rupees
• RBL Bank (RBK): Says online banking system down due to technical issue
o RBL Bank Says Online Banking System Glitch Gets Resolved
• Vedanta (VEDL): To consider first mid-year dividend for FY22 on Sept. 1
Market Wizard
MARKET WIZARD NEWSLETTER ISSUE 15 UPDATES Fundamental Stocks 💎 ▶️ Aarti Drugs Ltd at 709 ▶️ Satia Industries Ltd at 83.85 ▶️ Jyothy Labs Ltd at 152 ▶️ Yes Bank Ltd at 13.65 Technical Stocks 📊📈 ▶️ Agarind Ltd - SPECIAL PICK at 285.8 ▶️ Oil India Ltd at…
SHREYAS SHIPPING 305.8❤️❤️
UC LOCKED 🔐🔐
UC LOCKED 🔐🔐
Market Wizard
ADDED MORE RUBY MILLS AT 274.8 - 275.6 - 276.9
RUBY MILLS 279.95❤️❤️
Market Wizard
ADDED MORE DENORA AT 330 - 332 - 333 DONT MISS
Denora 338❤️❤️
Market Wizard
Mid Term Bumper Call Buy Gulf Petro at CMP of 53.1 - 53.5 and dips till 48 Sl 46 Targets:-56 - 58 - 60 - 62.5 - 65- 67 - 70 - 72 - 74 - 76+ Above that we can see 80 - 84+ Disclaimer:- I am not SEBI Registered. Please consult your financial advisor before…
GULF PETRO ONCE ABOVE 53.2, WILL AIM 56+ LEVEL IN INTRADAY
Short Term Super Duper Bumper Call
Buy Ramanews at CMP of 20.3 - 20.6 and on dips till 19
Sl 18
Targets:- 21.5 - 21.9 -22.4 - 22.8 - 23.5 - 24 - 25+
Disclaimer:- I am not Sebi Registered. Please consult your financial advisor before investing.
Buy Ramanews at CMP of 20.3 - 20.6 and on dips till 19
Sl 18
Targets:- 21.5 - 21.9 -22.4 - 22.8 - 23.5 - 24 - 25+
Disclaimer:- I am not Sebi Registered. Please consult your financial advisor before investing.
Market Wizard
ADDED MORE RUBY MILLS AT 274.8 - 275.6 - 276.9
RUBY MILLS 284.35❤️❤️