Stocks To Watch
Persistent Systems: The company’s wholly owned subsidiary, Persistent Systems Inc., USA, to acquire Software Corporation International and its affiliate Fusion360 LLC for $53 million. The company will acquire Shree Infosoft, India along with certain assets of Shree Partners LLC, USA—the parent company of Shree Infosoft—for $6.87 million. These acquisitions are subject to customary closing conditions which are expected to be completed in a span of 2-5 weeks.
Sterling and Wilson Solar: Promoters Shapoorji Pallonji and Company and Khurshed Daruvala have facilitated the repayment of the balance outstanding loans (Rs 741 crore) along with interest accrued till date, by Sterling and Wilson and its subsidiary Sterling and Wilson International FZE to the company and its subsidiary Sterling and Wilson International Solar FZCO respectively. With this, the entire outstanding loans of Rs 2,563 crore along with interest accrued till date has been repaid in full, the company said.
Indian Overseas Bank: The bank has exited RBI’s prompt corrective action framework. It is no longer in breach of PCA triggers based on FY21 earnings. IOB has provided a written commitment that it will comply with regulatory requirements. It has also apprised RBI of systemic improvements.
GMR Infrastructure: The company’s equity shareholders and secured creditors have approved the composite scheme of amalgamation and arrangement amongst GMR Power Infra, GMR Infrastructure and GMR Power and Urban Infra and their respective shareholders during the NCLT convened meetings.
Zee Entertainment Enterprises Institutional investor, Invesco Fund, has moved NCLT asking Zee Entertainment to call an extraordinary general meeting of shareholders to induct its nominees on the company’s board.
Blue Dart Express: The company will raise average shipment price by 9.6% from January 1, 2022.
HCL Technologies: The company has launched a 5G Open Radio Access Network lab in India to help telecom companies with 5G transition.
Axis Bank: The bank has accepted Executive Director Rajesh Dahiya’s early retirement. The said retirement will be effective after the close of business hours on December 31, 2021.
Ashoka Buildcon: The company has acquired balance 40% stake in Ashoka Bettadahalli Shivamogga Road for Rs 2 lakh. ABSRPL is a special purpose vehicle incorporated to execute the project awarded by NHAI.
Adani Total Gas: Supreme Court has dismissed company’s appeal in Ahmedabad distribution area. The company in addition to Ahmedabad and Daskori area had claimed authorisation for Sanand, Bavla & Dholka.
Persistent Systems: The company’s wholly owned subsidiary, Persistent Systems Inc., USA, to acquire Software Corporation International and its affiliate Fusion360 LLC for $53 million. The company will acquire Shree Infosoft, India along with certain assets of Shree Partners LLC, USA—the parent company of Shree Infosoft—for $6.87 million. These acquisitions are subject to customary closing conditions which are expected to be completed in a span of 2-5 weeks.
Sterling and Wilson Solar: Promoters Shapoorji Pallonji and Company and Khurshed Daruvala have facilitated the repayment of the balance outstanding loans (Rs 741 crore) along with interest accrued till date, by Sterling and Wilson and its subsidiary Sterling and Wilson International FZE to the company and its subsidiary Sterling and Wilson International Solar FZCO respectively. With this, the entire outstanding loans of Rs 2,563 crore along with interest accrued till date has been repaid in full, the company said.
Indian Overseas Bank: The bank has exited RBI’s prompt corrective action framework. It is no longer in breach of PCA triggers based on FY21 earnings. IOB has provided a written commitment that it will comply with regulatory requirements. It has also apprised RBI of systemic improvements.
GMR Infrastructure: The company’s equity shareholders and secured creditors have approved the composite scheme of amalgamation and arrangement amongst GMR Power Infra, GMR Infrastructure and GMR Power and Urban Infra and their respective shareholders during the NCLT convened meetings.
Zee Entertainment Enterprises Institutional investor, Invesco Fund, has moved NCLT asking Zee Entertainment to call an extraordinary general meeting of shareholders to induct its nominees on the company’s board.
Blue Dart Express: The company will raise average shipment price by 9.6% from January 1, 2022.
HCL Technologies: The company has launched a 5G Open Radio Access Network lab in India to help telecom companies with 5G transition.
Axis Bank: The bank has accepted Executive Director Rajesh Dahiya’s early retirement. The said retirement will be effective after the close of business hours on December 31, 2021.
Ashoka Buildcon: The company has acquired balance 40% stake in Ashoka Bettadahalli Shivamogga Road for Rs 2 lakh. ABSRPL is a special purpose vehicle incorporated to execute the project awarded by NHAI.
Adani Total Gas: Supreme Court has dismissed company’s appeal in Ahmedabad distribution area. The company in addition to Ahmedabad and Daskori area had claimed authorisation for Sanand, Bavla & Dholka.
Birla Corporation Limited (MP Birla Group): Harsh V Lodha, Chairman of the MP Birla Group, announced at the AGM that the Company will increase its annual cement production capacity to 30 million tons (mt) by 2027. This is a new target set for the Company which had earlier said it would raise its production capacity to 25 mt by 2025. Birla Corporation Limited's current production capacity is 15 .6 mt, which will go up to almost 20 mt by the end of the current fiscal year, when its greenfield 3.9 mt plant at Mukutban, near Nagpur, is commissioned. Neutral
SBI Card, has announced launch of the three-day mega shopping festive offer 2021, 'Dumdaar Dus', starting 3 October 2021. During this one-of-its-kind on line shopping festival, SBI Card retail cardholders will have the freedom to shop on line on any domestic e-commerce site, and not be restricted to just one or two, to avail the 10 per cent cash back. Importantly, in line with the growing popularity of EMI transactions, the offer will also be available on online merchant EMI transactions. Positive
Invesco Developing Markets Fund and OFI Global China Fund LLC (Shareholders of the Zee Entertainment) have filed a petition against the Company, before the National Company Law Tribunal, Mumbai Bench, inter alia requesting the tribunal to order an extraordinary general meeting of the Company. Neutral
Bulk Deal as on 29-09-21
Alicon Castalloy
- 1.01 Lk @ 770.01 Gupta Vimal
HDFC Asset Management
- 1.06 Crore @ 2873.79 Standard Life Investment Ltd
+ 15.19 Lk @ 2871.05 T.Rowe Price Emerging Markets Stock
Inox Wind
+ 11.16 Lk @ 99.16 Kirtan Maneklal Rupareliya
Just Dial
- 10.18 Lk @ 990.01 Nalanda India Equity Fund Ltd
+ 5.03 Lk @ 989.98 Sanatan Financial Advisors Services
Karur Vysya Bank
- 2.10 Crore @ 46.62 Olympus India Holdings Ltd
Max Healthcare
- 8.44 Crore @ 350 Kayak Investment Holding Pte Ltd
+ 57 Lk @ 350 HDFC Mutual Fund
+ 4.28 Crore @ 350 Sbi Mutual Fund
+ 52 Lk @ 350 Veritas Fund Plc on behalf of Veritas
Sunteck Realty
+ 11 Lk @ 465.12 Tata Mutual Fund- Money Market Fund
Yasho Industries
- 70 K @ 694.64 Jignesh Amrutlal Thobhani
Alicon Castalloy
- 1.01 Lk @ 770.01 Gupta Vimal
HDFC Asset Management
- 1.06 Crore @ 2873.79 Standard Life Investment Ltd
+ 15.19 Lk @ 2871.05 T.Rowe Price Emerging Markets Stock
Inox Wind
+ 11.16 Lk @ 99.16 Kirtan Maneklal Rupareliya
Just Dial
- 10.18 Lk @ 990.01 Nalanda India Equity Fund Ltd
+ 5.03 Lk @ 989.98 Sanatan Financial Advisors Services
Karur Vysya Bank
- 2.10 Crore @ 46.62 Olympus India Holdings Ltd
Max Healthcare
- 8.44 Crore @ 350 Kayak Investment Holding Pte Ltd
+ 57 Lk @ 350 HDFC Mutual Fund
+ 4.28 Crore @ 350 Sbi Mutual Fund
+ 52 Lk @ 350 Veritas Fund Plc on behalf of Veritas
Sunteck Realty
+ 11 Lk @ 465.12 Tata Mutual Fund- Money Market Fund
Yasho Industries
- 70 K @ 694.64 Jignesh Amrutlal Thobhani
#BREAKING | Infosys Insider trading: #SEBI bans @Infosys and @Wipro employee from #trading in stock exchanges,
Read more at 🔻
https://t.co/BTvPpURmlC
Read more at 🔻
https://t.co/BTvPpURmlC
Moneycontrol
Infosys Insider Trading | SEBI Bans Infosys And Wipro Employee From Trading in Stock Exchanges
GNA AXLES: COMMERCE MINISTRY'S INVESTIGATION ARM DGTR (DIRECTORATE GENERAL OF TRADE REMEDIES) HAS RECOMMENDED AN EXTENSION OF THE EXISTING ANTI-DUMPING DUTY IMPOSED ON THE IMPORTS OF AXLE FOR TRAILERS FROM CHINA: PTI
Invesco drags ZEE to NCLT seeking EGM for board reconstitution
https://economictimes.indiatimes.com/industry/media/entertainment/invesco-drags-zee-to-nclt-seeking-egm-for-board-reconstitution/articleshow/86616144.cms
Download Economic Times App to stay updated with Business News - https://etapp.onelink.me/tOvY/135dde21
https://economictimes.indiatimes.com/industry/media/entertainment/invesco-drags-zee-to-nclt-seeking-egm-for-board-reconstitution/articleshow/86616144.cms
Download Economic Times App to stay updated with Business News - https://etapp.onelink.me/tOvY/135dde21
The Economic Times
Invesco drags ZEE to NCLT seeking EGM for board reconstitution
On September 11th, Invesco-owned Invesco Developing Markets Fund and OFI Global China Fund LLC had sent a notice to the ZEE board, seeking an EGM to discuss the removal of three directors, including MD and CEO Punit Goenka, from the board and induction of…
*Introduction of Futures & Options Contracts on 8 Individual Securities w.e.f. October 01, 2021*
1 ABBOTINDIA
2 CROMPTON
3 DALBHARAT
4 DELTACORP
5 INDIACEM
6 JKCEMENT
7 OBEROIRLTY
8 PERSISTENT
1 ABBOTINDIA
2 CROMPTON
3 DALBHARAT
4 DELTACORP
5 INDIACEM
6 JKCEMENT
7 OBEROIRLTY
8 PERSISTENT
*SERNET News Update – Sep 30th 2021*
Invesco Fund, which holds an 18% stake in Zee Entertainment, moved NCLT to call an EGM of shareholders to induct its nominees on the board of Zee Entertainment. Invesco has sought the intervention of NCLT to direct Zee to call for the EGM. Invesco has also demanded that Punit Goenka, the current CEO of Zee be removed. Invesco is the largest shareholder in Zee Entertainment at 18% with the Subhash Chandra family holding 4% in the merged entity, including non-compete compensation. NCLT will hear on 30-Sep.
SEBI decided to introduce swing pricing mechanism for open-ended debt funds. This move will discourage large investors from sudden redemptions. The Swing Pricing framework will only be made applicable when there are net outflows. This ensures fairness for the entering, exiting and existing investors in a debt fund. The swing pricing will ensure that HNIs are not able to leverage very low prices in times of volatility and squeeze profits out of general investors. Swing Pricing will be limited to periods of market dislocation.
Birla Corporation, part of the MP Birla group, plans to double its cement capacity to 30 million TPA by 2027. This is more aggressive than the earlier plan to raise cement capacity to 25 MTPA by 2025. Its current production capacity is 15.6 MTPA and the commission of its 3.9 MTPA plant at Mukutban will take its capacity to 20 MTPA by end of 2021. The advantage will be that new plants would be more efficient and profitable. Birla Corp expects demand for cement to get stronger with huge infrastructure outlays.
HDFC Bank confirmed it had issued 400,000 credit cards since the RBI embargo on fresh cards was lifted in mid-August. HDFC Bank had lost 2% market share during the ban and plans to recoup lost market in next few quarters. From Feb-22, it plans average 500,000 credit card issuances per month. Despite the loss in market share, HDFC Bank remains the leader with over 14.76 million cards outstanding. In India, credit card market is still under-penetrated. HDFC has also tied up with Paytm for credit card co-branding.
Piramal Enterprises has completed the acquisition of Dewan Housing and has paid the full consideration amount of Rs.34,250 crore. This is the first resolution of an NBFC under the IBC. This amount includes an upfront cash payment of Rs.14,700 crores and 6.75% NCDs of Rs.19,550 crores. In addition, if the DHFL cash balance of Rs.3,800 crore is also added, then creditors get a total settlement price of Rs.38,000 crore which is a good 46% recovery. DHFL will now merge with PCHFL and become a 100% subsidiary of PEL.
Sun Pharmaceuticals was up 2% at Rs.793 after it launched a novel formulation in cough management, Chericof-12 in India. Sun Pharma is now trading close to its 52-week high of Rs.804. Chericof-12, the first prescription cough syrup in India gives relief for up to 12 hours and is approved for patients of age group six years and above. It will use the Polistirex Technology entailing complexation of two drugs viz., Dextromethorphan Hydrobromide and Chlorpheniramine maleate with resins and masks the bitter taste.
RBI has removed Indian Overseas Bank from Prompt Corrective Action (PCA) framework. As per its Mar-21 results, IOB was not in breach of the PCA parameters. As stipulated by the RBI, IOB has also provided a written commitment to comply with Minimum Regulatory Capital, Net NPA and Leverage ratio. This removal from PCA will be subject to conditions and continuous monitoring. This allows IOB to expand its credit book, pay dividends out of profits and also decide on commensurate rewards for senior managers.
L&T is in talks to merge its thermal power business with the Indian unit of Singapore-based Sembcorp. It will be a share swap deal but will help L&T to pare debt. The combined business is likely to be valued at $4.5 billion. L&T may move debt of Rs.10,000 crore to the merged entity.
Invesco Fund, which holds an 18% stake in Zee Entertainment, moved NCLT to call an EGM of shareholders to induct its nominees on the board of Zee Entertainment. Invesco has sought the intervention of NCLT to direct Zee to call for the EGM. Invesco has also demanded that Punit Goenka, the current CEO of Zee be removed. Invesco is the largest shareholder in Zee Entertainment at 18% with the Subhash Chandra family holding 4% in the merged entity, including non-compete compensation. NCLT will hear on 30-Sep.
SEBI decided to introduce swing pricing mechanism for open-ended debt funds. This move will discourage large investors from sudden redemptions. The Swing Pricing framework will only be made applicable when there are net outflows. This ensures fairness for the entering, exiting and existing investors in a debt fund. The swing pricing will ensure that HNIs are not able to leverage very low prices in times of volatility and squeeze profits out of general investors. Swing Pricing will be limited to periods of market dislocation.
Birla Corporation, part of the MP Birla group, plans to double its cement capacity to 30 million TPA by 2027. This is more aggressive than the earlier plan to raise cement capacity to 25 MTPA by 2025. Its current production capacity is 15.6 MTPA and the commission of its 3.9 MTPA plant at Mukutban will take its capacity to 20 MTPA by end of 2021. The advantage will be that new plants would be more efficient and profitable. Birla Corp expects demand for cement to get stronger with huge infrastructure outlays.
HDFC Bank confirmed it had issued 400,000 credit cards since the RBI embargo on fresh cards was lifted in mid-August. HDFC Bank had lost 2% market share during the ban and plans to recoup lost market in next few quarters. From Feb-22, it plans average 500,000 credit card issuances per month. Despite the loss in market share, HDFC Bank remains the leader with over 14.76 million cards outstanding. In India, credit card market is still under-penetrated. HDFC has also tied up with Paytm for credit card co-branding.
Piramal Enterprises has completed the acquisition of Dewan Housing and has paid the full consideration amount of Rs.34,250 crore. This is the first resolution of an NBFC under the IBC. This amount includes an upfront cash payment of Rs.14,700 crores and 6.75% NCDs of Rs.19,550 crores. In addition, if the DHFL cash balance of Rs.3,800 crore is also added, then creditors get a total settlement price of Rs.38,000 crore which is a good 46% recovery. DHFL will now merge with PCHFL and become a 100% subsidiary of PEL.
Sun Pharmaceuticals was up 2% at Rs.793 after it launched a novel formulation in cough management, Chericof-12 in India. Sun Pharma is now trading close to its 52-week high of Rs.804. Chericof-12, the first prescription cough syrup in India gives relief for up to 12 hours and is approved for patients of age group six years and above. It will use the Polistirex Technology entailing complexation of two drugs viz., Dextromethorphan Hydrobromide and Chlorpheniramine maleate with resins and masks the bitter taste.
RBI has removed Indian Overseas Bank from Prompt Corrective Action (PCA) framework. As per its Mar-21 results, IOB was not in breach of the PCA parameters. As stipulated by the RBI, IOB has also provided a written commitment to comply with Minimum Regulatory Capital, Net NPA and Leverage ratio. This removal from PCA will be subject to conditions and continuous monitoring. This allows IOB to expand its credit book, pay dividends out of profits and also decide on commensurate rewards for senior managers.
L&T is in talks to merge its thermal power business with the Indian unit of Singapore-based Sembcorp. It will be a share swap deal but will help L&T to pare debt. The combined business is likely to be valued at $4.5 billion. L&T may move debt of Rs.10,000 crore to the merged entity.
In the last few years, L&T has been trying to gradually divest its non-core business and focus purely on its core Engineering, Procurement and Construction (EPC) business. It has already sold its electrical business to Schneider.
*ABM Morning Update*
*STOCKS DECLINE AS YIELD(US BOND) FLAG INFLATION WORRIES!*
*Global markets :*
The S&P 500 and the DJIA rose slightly on Wednesday, but the technology sector struggled again as the 10-year Treasury yield traded volatilely. The Dow rose 0.26% while the S&P 500 added 0.16%. The tech-heavy Nasdaq Composite was the laggard, falling 0.24%. The moves came after the Nasdaq posted its worst day since March on Tuesday amid a spike in bond yields. The 10-year Treasury yield eased on Wednesday morning to trade below 1.5% but bounced back toward 1.54% in afternoon trading as concerns around inflation persistence mounted.
Higher bond yields post last week's hawkish Fed, along with higher oil prices, stabilization in high frequency economic indicators, and evidence that the latest Covid surge in the U.S. has peaked, have pressured the Growth trade and bolstered the Value and Small Cap trades.
*Domestic markets :*
Markets again end on lower side for second consecutive day at benchmark level but again showcased its strong resilience at lower levels and managed to recover from lower levels. Broader markets were another indication of underlying strength as Nifty Midcap 100 & Nifty Small cap 100 ended lower by 1.1% and 0.4% resp. At benchmark level, Nifty50 index closed down 37 points while Sensex ended with a loss of 254 points. On the sectoral front, the power, metal, pharma and realty indices added 1-3.5%. Power stocks were specifically in action with improving economic activity. Thermal generation rose 4% MoM with coal demand and prices rising. Internationally, Coal prices are going through the roof with China’s power crisis which is also having sentimental effect on stocks here. Besides, all PSU companies have been in action with economic activity picking pace and talks of privatization. On the flip side, selling was seen in the auto, bank, capital goods, FMCG names.
The Union Cabinet on Wednesday approved capital infusion of Rs 4,400 cr over 5 years in ECGC and its listing through an IPO. Separately, media reports suggests budget deficit would be narrowed to 6.3% i.e. half a percentage point lower than initially targeted, on the back of improving revenues. Expectations of robust tax collections in the coming months & achievement of assets-sale target while government will maintain its spending targets, with a focus on capital expenditure.
India's external debt rose modestly by 2.1% YoY to $570 bn as of March-end 2021, notwithstanding the COVID-19 pandemic. External debt to GDP ratio rose marginally to 21.1% from 20.6% on YoY basis. Reserves to external debt ratio, however, increased to 101.2% from 85.6% during the same period.
For today, several macro data points are scheduled to be released including Fiscal deficit and Core sector data. Further, auto sales data in next couple of days will be keenly watched alongwith management commentaries. Besides, business updates, if any from the corporates will guide for the upcoming earnings season. For today, SGX Nifty indicates 50 points gap down opening for Nifty.
*Quote for the day: “Your (Fed Chair Powell) record gives me grave concerns. Over and over, you have acted to make our banking system less safe, and that makes you a dangerous man to head up the Fed, and it’s why I will oppose your renomination.”- Senator Elizabeth Warren.*
*Focus for the day:*
1. India Aug Core Sector, Fiscal Balance
2. UK Q2 GDP
*Key corporate developments/policy actions:*
1. RIL backed the appointment of Saudi Aramco Chairman, Yasir Al-Rumayyan as an independent director on its board and reiterated that his appointment has no connection with Saudi Aramco's plans to buy a stake.
2. Piramal Enterprises completed the acquisition of DHFL by paying the consideration amount of Rs 34,250 cr. This marks the first successful resolution of a financial services company under IBC.
3. Britannia has partnered Accenture to streamline procurement, accelerate innovation and improve customer and supplier experience.
*STOCKS DECLINE AS YIELD(US BOND) FLAG INFLATION WORRIES!*
*Global markets :*
The S&P 500 and the DJIA rose slightly on Wednesday, but the technology sector struggled again as the 10-year Treasury yield traded volatilely. The Dow rose 0.26% while the S&P 500 added 0.16%. The tech-heavy Nasdaq Composite was the laggard, falling 0.24%. The moves came after the Nasdaq posted its worst day since March on Tuesday amid a spike in bond yields. The 10-year Treasury yield eased on Wednesday morning to trade below 1.5% but bounced back toward 1.54% in afternoon trading as concerns around inflation persistence mounted.
Higher bond yields post last week's hawkish Fed, along with higher oil prices, stabilization in high frequency economic indicators, and evidence that the latest Covid surge in the U.S. has peaked, have pressured the Growth trade and bolstered the Value and Small Cap trades.
*Domestic markets :*
Markets again end on lower side for second consecutive day at benchmark level but again showcased its strong resilience at lower levels and managed to recover from lower levels. Broader markets were another indication of underlying strength as Nifty Midcap 100 & Nifty Small cap 100 ended lower by 1.1% and 0.4% resp. At benchmark level, Nifty50 index closed down 37 points while Sensex ended with a loss of 254 points. On the sectoral front, the power, metal, pharma and realty indices added 1-3.5%. Power stocks were specifically in action with improving economic activity. Thermal generation rose 4% MoM with coal demand and prices rising. Internationally, Coal prices are going through the roof with China’s power crisis which is also having sentimental effect on stocks here. Besides, all PSU companies have been in action with economic activity picking pace and talks of privatization. On the flip side, selling was seen in the auto, bank, capital goods, FMCG names.
The Union Cabinet on Wednesday approved capital infusion of Rs 4,400 cr over 5 years in ECGC and its listing through an IPO. Separately, media reports suggests budget deficit would be narrowed to 6.3% i.e. half a percentage point lower than initially targeted, on the back of improving revenues. Expectations of robust tax collections in the coming months & achievement of assets-sale target while government will maintain its spending targets, with a focus on capital expenditure.
India's external debt rose modestly by 2.1% YoY to $570 bn as of March-end 2021, notwithstanding the COVID-19 pandemic. External debt to GDP ratio rose marginally to 21.1% from 20.6% on YoY basis. Reserves to external debt ratio, however, increased to 101.2% from 85.6% during the same period.
For today, several macro data points are scheduled to be released including Fiscal deficit and Core sector data. Further, auto sales data in next couple of days will be keenly watched alongwith management commentaries. Besides, business updates, if any from the corporates will guide for the upcoming earnings season. For today, SGX Nifty indicates 50 points gap down opening for Nifty.
*Quote for the day: “Your (Fed Chair Powell) record gives me grave concerns. Over and over, you have acted to make our banking system less safe, and that makes you a dangerous man to head up the Fed, and it’s why I will oppose your renomination.”- Senator Elizabeth Warren.*
*Focus for the day:*
1. India Aug Core Sector, Fiscal Balance
2. UK Q2 GDP
*Key corporate developments/policy actions:*
1. RIL backed the appointment of Saudi Aramco Chairman, Yasir Al-Rumayyan as an independent director on its board and reiterated that his appointment has no connection with Saudi Aramco's plans to buy a stake.
2. Piramal Enterprises completed the acquisition of DHFL by paying the consideration amount of Rs 34,250 cr. This marks the first successful resolution of a financial services company under IBC.
3. Britannia has partnered Accenture to streamline procurement, accelerate innovation and improve customer and supplier experience.
4. L&T in talks to merge its thermal power business with Sembcorp Industries. The deal will help L&T to pare debt.
5. HDFC Bank issued 400,000 credit cards since embargo lifted by RBI in mid-Aug
6. BHEL bags maiden order for supply of a main gun onboard of warships from Goa Shipyard.
7. Invesco Fund has moved the NCLT – asking ZEE to call an EGM of shareholders to induct its nominees on the company's board.
*Fund Flow:*
FII: (-) Rs 18.96 bn; DII : (+) Rs 32.62 bn
*Stocks to focus :*
Large Cap : Abbott, Asian Paints, Divis Lab, HDFC Bank, HCL Tech, HUL, Infosys, ICICI Lombard, Maruti, Nestle, Tata Steel
Mid Cap : Aavas Fin, Amber Ent, Apollo Tyres, Gmm Pfaudler, GNFC, Mrs Bectors Food, Nalco, Poly Medicure, Polycab, Westlife Dev
5. HDFC Bank issued 400,000 credit cards since embargo lifted by RBI in mid-Aug
6. BHEL bags maiden order for supply of a main gun onboard of warships from Goa Shipyard.
7. Invesco Fund has moved the NCLT – asking ZEE to call an EGM of shareholders to induct its nominees on the company's board.
*Fund Flow:*
FII: (-) Rs 18.96 bn; DII : (+) Rs 32.62 bn
*Stocks to focus :*
Large Cap : Abbott, Asian Paints, Divis Lab, HDFC Bank, HCL Tech, HUL, Infosys, ICICI Lombard, Maruti, Nestle, Tata Steel
Mid Cap : Aavas Fin, Amber Ent, Apollo Tyres, Gmm Pfaudler, GNFC, Mrs Bectors Food, Nalco, Poly Medicure, Polycab, Westlife Dev
🗞Insider Trades🗞
☂️Adani Green Energy: Promoter Infinite Trade and Investments bought 38 lakh shares between September 27-28.
☂️Aegis Logistics: Promoter Trans Asia Petroleum Inc. bought 74,000 shares on September 27.
☂️Gujarat Fluorochemicals: Promoter Inox Chemicals LLP sold 60,017 shares between September 24-28.
☂️Lincoln Pharmaceuticals: Promoters (Mahendrabhai Patel and Ashish Patel) bought 55,000 shares on September 27. Sequent Scientific: Promoters (Chayadeep Ventures LLP and Hemalatha Pillai) sold 1.34 lakh shares between September 24-28.
☂️Vaibhav Global: Promoter Kusum Bardiya sold 50,000 shares on September 28. Promoter Brett Enterprises bought 50,000 shares on September 28.
🎉Block Deal🎉
📝Reliance Industries: Societe Generale bought 22.59 lakh shares (0.03%) at Rs 2,525 per share.
📝Credit Suisse (Singapore) sold 22.59 lakh shares (0.03%) at Rs 2,525 per share.
🧮Who’s Meeting Whom🧮
🌼CARE Ratings: To meet Birla Mutual Fund on September 30
🌼Graphite India: To meet Fidelity Management Research on September 30. 🌼Persistent Systems: To meet investors and analysts on September 30.
🏉Trading Tweaks🏉
📇Record Date Buyback: eClerx Services Move Into ASM Framework:
📇Hindustan Oil Exploration Company
Money Market Update
The rupee ended at 74.15 against the U.S. Dollar on Wednesday as compared to Tuesday's closing of 74.04.
F&O Cues
Nifty September futures ended at 17,710.35, a discount of 0.95 points Nifty September futures shed 28.42% and 51,521 shares in Open Interest Nifty Bank September futures ended at 37,879.40, a premium of 136.4 points Nifty Bank September futures shed 32.30%, and 14,822 shares in Open Interest Securities in the ban list: Sun TV
Securities removed from the ban list: Vodafone Idea, SAIL, Zee Entertainment
✴️Offerings✴️
Export Credit Guarantee Corporation IPO gets cabinet approval, likely by next fiscal.
Aditya Birla Sun Life Asset Management Co.'s initial public offering subscribed 0.58 times on first day.
🕰Pledge Share Details🕰
🚦Apollo Hospitals Enterprise: Promoters (Suneeta Reddy and Preetha Reddy) revoked pledge of 6 lakh shares on September 28.
🚦Bharat Forge: Promoter Sundaram Trading & Investment created a pledge of 75 lakh shares on September 27.
🚦Jindal Steel & Power: Promoter Siddeshwari Tradex revoked pledge of 10.25 lakh shares on September 24.As reported on September 29.
🎁Bulk Deals🎁
🗞Max Healthcare Institute: Veritas Funds PLC bought 52 lakh shares (0.54%) at Rs 350 per share.
🎁SBI Mutual Fund bought 4.28 crore shares (4.44%) at Rs 350 per share. 🏀HDFC Mutual Fund bought 57 lakh shares (0.59%) at Rs 350 per share.❤️ Kayak Investments Holding Pte sold 6.02 crore shares (6.23%) at Rs 350 per share and another 2.42 crore shares (2.51%) at Rs 350.13 per share.
📈Stocks To Watch📈
☀️Persistent Systems: The company’s wholly owned subsidiary, Persistent Systems Inc., USA, to acquire Software Corporation International and its affiliate Fusion360 LLC for $53 million. The company will acquire Shree Infosoft, India along with certain assets of Shree Partners LLC, USA—the parent company of Shree Infosoft—for $6.87 million. These acquisitions are subject to customary closing conditions which are expected to be completed in a span of 2-5 weeks.
🔸Sterling and Wilson Solar: Promoters Shapoorji Pallonji and Company and Khurshed Daruvala have facilitated the repayment of the balance outstanding loans (Rs 741 crore) along with interest accrued till date, by Sterling and Wilson and its subsidiary Sterling and Wilson International FZE to the company and its subsidiary Sterling and Wilson International Solar FZCO respectively. With this, the entire outstanding loans of Rs 2,563 crore along with interest accrued till date has been repaid in full, the company said.
☂️Adani Green Energy: Promoter Infinite Trade and Investments bought 38 lakh shares between September 27-28.
☂️Aegis Logistics: Promoter Trans Asia Petroleum Inc. bought 74,000 shares on September 27.
☂️Gujarat Fluorochemicals: Promoter Inox Chemicals LLP sold 60,017 shares between September 24-28.
☂️Lincoln Pharmaceuticals: Promoters (Mahendrabhai Patel and Ashish Patel) bought 55,000 shares on September 27. Sequent Scientific: Promoters (Chayadeep Ventures LLP and Hemalatha Pillai) sold 1.34 lakh shares between September 24-28.
☂️Vaibhav Global: Promoter Kusum Bardiya sold 50,000 shares on September 28. Promoter Brett Enterprises bought 50,000 shares on September 28.
🎉Block Deal🎉
📝Reliance Industries: Societe Generale bought 22.59 lakh shares (0.03%) at Rs 2,525 per share.
📝Credit Suisse (Singapore) sold 22.59 lakh shares (0.03%) at Rs 2,525 per share.
🧮Who’s Meeting Whom🧮
🌼CARE Ratings: To meet Birla Mutual Fund on September 30
🌼Graphite India: To meet Fidelity Management Research on September 30. 🌼Persistent Systems: To meet investors and analysts on September 30.
🏉Trading Tweaks🏉
📇Record Date Buyback: eClerx Services Move Into ASM Framework:
📇Hindustan Oil Exploration Company
Money Market Update
The rupee ended at 74.15 against the U.S. Dollar on Wednesday as compared to Tuesday's closing of 74.04.
F&O Cues
Nifty September futures ended at 17,710.35, a discount of 0.95 points Nifty September futures shed 28.42% and 51,521 shares in Open Interest Nifty Bank September futures ended at 37,879.40, a premium of 136.4 points Nifty Bank September futures shed 32.30%, and 14,822 shares in Open Interest Securities in the ban list: Sun TV
Securities removed from the ban list: Vodafone Idea, SAIL, Zee Entertainment
✴️Offerings✴️
Export Credit Guarantee Corporation IPO gets cabinet approval, likely by next fiscal.
Aditya Birla Sun Life Asset Management Co.'s initial public offering subscribed 0.58 times on first day.
🕰Pledge Share Details🕰
🚦Apollo Hospitals Enterprise: Promoters (Suneeta Reddy and Preetha Reddy) revoked pledge of 6 lakh shares on September 28.
🚦Bharat Forge: Promoter Sundaram Trading & Investment created a pledge of 75 lakh shares on September 27.
🚦Jindal Steel & Power: Promoter Siddeshwari Tradex revoked pledge of 10.25 lakh shares on September 24.As reported on September 29.
🎁Bulk Deals🎁
🗞Max Healthcare Institute: Veritas Funds PLC bought 52 lakh shares (0.54%) at Rs 350 per share.
🎁SBI Mutual Fund bought 4.28 crore shares (4.44%) at Rs 350 per share. 🏀HDFC Mutual Fund bought 57 lakh shares (0.59%) at Rs 350 per share.❤️ Kayak Investments Holding Pte sold 6.02 crore shares (6.23%) at Rs 350 per share and another 2.42 crore shares (2.51%) at Rs 350.13 per share.
📈Stocks To Watch📈
☀️Persistent Systems: The company’s wholly owned subsidiary, Persistent Systems Inc., USA, to acquire Software Corporation International and its affiliate Fusion360 LLC for $53 million. The company will acquire Shree Infosoft, India along with certain assets of Shree Partners LLC, USA—the parent company of Shree Infosoft—for $6.87 million. These acquisitions are subject to customary closing conditions which are expected to be completed in a span of 2-5 weeks.
🔸Sterling and Wilson Solar: Promoters Shapoorji Pallonji and Company and Khurshed Daruvala have facilitated the repayment of the balance outstanding loans (Rs 741 crore) along with interest accrued till date, by Sterling and Wilson and its subsidiary Sterling and Wilson International FZE to the company and its subsidiary Sterling and Wilson International Solar FZCO respectively. With this, the entire outstanding loans of Rs 2,563 crore along with interest accrued till date has been repaid in full, the company said.
🔸Indian Overseas Bank: The bank has exited RBI’s prompt corrective action framework. It is no longer in breach of PCA triggers based on FY21 earnings. IOB has provided a written commitment that it will comply with regulatory requirements. It has also apprised RBI of systemic improvements.
🔸GMR Infrastructure: The company’s equity shareholders and secured creditors have approved the composite scheme of amalgamation and arrangement amongst GMR Power Infra, GMR Infrastructure and GMR Power and Urban Infra and their respective shareholders during the NCLT convened meetings.
🔸Zee Entertainment Enterprises: Institutional investor, Invesco Fund, has moved NCLT asking Zee Entertainment to call an extraordinary general meeting of shareholders to induct its nominees on the company’s board.
🔸Blue Dart Express: The company will raise average shipment price by 9.6% from January 1, 2022. 🔸HCL Technologies: The company has launched a 5G Open Radio Access Network lab in India to help telecom companies with 5G transition. 🔸Axis Bank: The bank has accepted Executive Director Rajesh Dahiya’s early retirement. The said retirement will be effective after the close of business hours on December 31
🔸Ashoka Buildcon: The company has acquired balance 40% stake in Ashoka Bettadahalli Shivamogga Road for Rs 2 lakh. ABSRPL is a special purpose vehicle incorporated to execute the project awarded by NHAI. 🔸Adani Total Gas: Supreme Court has dismissed company’s appeal in Ahmedabad distribution area. The company in addition to Ahmedabad and Daskori area had claimed authorisation for Sanand, Bavla & Dholka.
🔸GMR Infrastructure: The company’s equity shareholders and secured creditors have approved the composite scheme of amalgamation and arrangement amongst GMR Power Infra, GMR Infrastructure and GMR Power and Urban Infra and their respective shareholders during the NCLT convened meetings.
🔸Zee Entertainment Enterprises: Institutional investor, Invesco Fund, has moved NCLT asking Zee Entertainment to call an extraordinary general meeting of shareholders to induct its nominees on the company’s board.
🔸Blue Dart Express: The company will raise average shipment price by 9.6% from January 1, 2022. 🔸HCL Technologies: The company has launched a 5G Open Radio Access Network lab in India to help telecom companies with 5G transition. 🔸Axis Bank: The bank has accepted Executive Director Rajesh Dahiya’s early retirement. The said retirement will be effective after the close of business hours on December 31
🔸Ashoka Buildcon: The company has acquired balance 40% stake in Ashoka Bettadahalli Shivamogga Road for Rs 2 lakh. ABSRPL is a special purpose vehicle incorporated to execute the project awarded by NHAI. 🔸Adani Total Gas: Supreme Court has dismissed company’s appeal in Ahmedabad distribution area. The company in addition to Ahmedabad and Daskori area had claimed authorisation for Sanand, Bavla & Dholka.
*Bulk Deal as on 29-09-21*
Alicon Castalloy
- 1.01 Lk @ 770.01 Gupta Vimal
HDFC Asset Management
- 1.06 Crore @ 2873.79 Standard Life Investment Ltd
+ 15.19 Lk @ 2871.05 T.Rowe Price Emerging Markets Stock
Inox Wind
+ 11.16 Lk @ 99.16 Kirtan Maneklal Rupareliya
Just Dial
- 10.18 Lk @ 990.01 Nalanda India Equity Fund Ltd
+ 5.03 Lk @ 989.98 Sanatan Financial Advisors Services
Karur Vysya Bank
- 2.10 Crore @ 46.62 Olympus India Holdings Ltd
Max Healthcare
- 8.44 Crore @ 350 Kayak Investment Holding Pte Ltd
+ 57 Lk @ 350 HDFC Mutual Fund
+ 4.28 Crore @ 350 Sbi Mutual Fund
+ 52 Lk @ 350 Veritas Fund Plc on behalf of Veritas
Sunteck Realty
+ 11 Lk @ 465.12 Tata Mutual Fund- Money Market Fund
Yasho Industries
- 70 K @ 694.64 Jignesh Amrutlal Thobhani
Alicon Castalloy
- 1.01 Lk @ 770.01 Gupta Vimal
HDFC Asset Management
- 1.06 Crore @ 2873.79 Standard Life Investment Ltd
+ 15.19 Lk @ 2871.05 T.Rowe Price Emerging Markets Stock
Inox Wind
+ 11.16 Lk @ 99.16 Kirtan Maneklal Rupareliya
Just Dial
- 10.18 Lk @ 990.01 Nalanda India Equity Fund Ltd
+ 5.03 Lk @ 989.98 Sanatan Financial Advisors Services
Karur Vysya Bank
- 2.10 Crore @ 46.62 Olympus India Holdings Ltd
Max Healthcare
- 8.44 Crore @ 350 Kayak Investment Holding Pte Ltd
+ 57 Lk @ 350 HDFC Mutual Fund
+ 4.28 Crore @ 350 Sbi Mutual Fund
+ 52 Lk @ 350 Veritas Fund Plc on behalf of Veritas
Sunteck Realty
+ 11 Lk @ 465.12 Tata Mutual Fund- Money Market Fund
Yasho Industries
- 70 K @ 694.64 Jignesh Amrutlal Thobhani
*Morning Action @ 7am – Thursday, September 30th 2021.*
*7 AM GLOBAL UPDATE:*
# SGX Nifty (-44, 17661)
# Dow (+91, 34390)
# Nasdaq (-34, 14512)
# Bovespa (+983, 111107)
# Nikkei (-32, 29512)
# Hang Seng (-169, 24494)
*Dow stages a slim, shaky rebound while SGX Nifty witnesses gravitational pull…*
*MARKET TRENDS:*
# Global: Positive
# FII: Negative (-1896 Cr)
# DII: Positive (+3262 Cr)
# F&O: 17500-18000 zone
# Market Breadth: Weak
# Sentiment: Precarious
# Technicals: Overbought
# Outlook: Volatile.
*CRUCIAL LEVELS: NIFTY & BANK NIFTY:*
*NIFTY (CMP 17749):*
# SUPPORT: 17557/17326
# RESISTANCE: 17857/18027
# RANGE: 17301-17801
# BIAS: Bullish.
*BANK NIFTY (CMP 37743):*
# SUPPORT: 37033/36211
# RESISTANCE: 38377/38751
# RANGE: 37277-38277
# BIAS: Bullish.
*NEED TO KNOW:*
Overnight at Wall Street, a relief rally fizzles out in late trading.
*The trading theme revolved around Fed Chairman Powell* who said that he expects inflation to keep rising into 2022. But he blames supply chain problems and the pandemic economy for it.
Next year, he expects inflation to drop to more normal levels and the economy to perform well.
The reason this matters is if the Fed starts to think inflation is getting out of hand, it will raise rates. But as long as the Fed thinks it's just temporary, then it's more likely to keep rates the same.
*Well, that’s definitely a good sign for now but this despite this positive catalyst, overnight the Nasdaq was not so lucky and this morning —— SGX Nifty too is treading waters…*
*Disclaimer:* This does not construe to be an investment advice. Stock market investments are subject to market risks. All information is a point of view, and is for educational and informational use only. The author accepts no liability for any interpretation of articles or comments on this blog being used for actual investments.
*7 AM GLOBAL UPDATE:*
# SGX Nifty (-44, 17661)
# Dow (+91, 34390)
# Nasdaq (-34, 14512)
# Bovespa (+983, 111107)
# Nikkei (-32, 29512)
# Hang Seng (-169, 24494)
*Dow stages a slim, shaky rebound while SGX Nifty witnesses gravitational pull…*
*MARKET TRENDS:*
# Global: Positive
# FII: Negative (-1896 Cr)
# DII: Positive (+3262 Cr)
# F&O: 17500-18000 zone
# Market Breadth: Weak
# Sentiment: Precarious
# Technicals: Overbought
# Outlook: Volatile.
*CRUCIAL LEVELS: NIFTY & BANK NIFTY:*
*NIFTY (CMP 17749):*
# SUPPORT: 17557/17326
# RESISTANCE: 17857/18027
# RANGE: 17301-17801
# BIAS: Bullish.
*BANK NIFTY (CMP 37743):*
# SUPPORT: 37033/36211
# RESISTANCE: 38377/38751
# RANGE: 37277-38277
# BIAS: Bullish.
*NEED TO KNOW:*
Overnight at Wall Street, a relief rally fizzles out in late trading.
*The trading theme revolved around Fed Chairman Powell* who said that he expects inflation to keep rising into 2022. But he blames supply chain problems and the pandemic economy for it.
Next year, he expects inflation to drop to more normal levels and the economy to perform well.
The reason this matters is if the Fed starts to think inflation is getting out of hand, it will raise rates. But as long as the Fed thinks it's just temporary, then it's more likely to keep rates the same.
*Well, that’s definitely a good sign for now but this despite this positive catalyst, overnight the Nasdaq was not so lucky and this morning —— SGX Nifty too is treading waters…*
*Disclaimer:* This does not construe to be an investment advice. Stock market investments are subject to market risks. All information is a point of view, and is for educational and informational use only. The author accepts no liability for any interpretation of articles or comments on this blog being used for actual investments.
🎯 Hindustan Oil poised for Golden future. With lowest excavation cost and Highest Ebidta margin, will report Blow-out financials.
Oil hits highest in almost 3 years as supply tightens
https://www.cnbc.com/2021/09/24/oil-markets-supplies-opec-and-allies.html?
Oil hits highest in almost 3 years as supply tightens
https://www.cnbc.com/2021/09/24/oil-markets-supplies-opec-and-allies.html?
CNBC
Oil hits highest in almost 3 years as supply tightens
Oil prices steadied on Friday near a two-month high of $77.50 a barrel and were headed for a third straight week of gains.
🌟Good Morning All🌟
☀️ Share K Saudagars' Exclusive Morning Market News & Update☀️
🍁Persistent Systems: The company’s wholly owned subsidiary, Persistent Systems Inc., USA, to acquire Software Corporation International and its affiliate Fusion360 LLC for $53 million. The company will acquire Shree Infosoft, India along with certain assets of Shree Partners LLC, USA—the parent company of Shree Infosoft—for $6.87 million. These acquisitions are subject to customary closing conditions which are expected to be completed in a span of 2-5 weeks.
🍁Sterling and Wilson Solar: Promoters Shapoorji Pallonji and Company and Khurshed Daruvala have facilitated the repayment of the balance outstanding loans (Rs 741 crore) along with interest accrued till date, by Sterling and Wilson and its subsidiary Sterling and Wilson International FZE to the company and its subsidiary Sterling and Wilson International Solar FZCO respectively. With this, the entire outstanding loans of Rs 2,563 crore along with interest accrued till date has been repaid in full, the company said.
🍁Indian Overseas Bank: The bank has exited RBI’s prompt corrective action framework. It is no longer in breach of PCA triggers based on FY21 earnings. IOB has provided a written commitment that it will comply with regulatory requirements. It has also apprised RBI of systemic improvements.
🍁GMR Infrastructure: The company’s equity shareholders and secured creditors have approved the composite scheme of amalgamation and arrangement amongst GMR Power Infra, GMR Infrastructure and GMR Power and Urban Infra and their respective shareholders during the NCLT convened meetings.
🍁Zee Entertainment Enterprises: Institutional investor, Invesco Fund, has moved NCLT asking Zee Entertainment to call an extraordinary general meeting of shareholders to induct its nominees on the company’s board.
🍁Blue Dart Express: The company will raise average shipment price by 9.6% from January 1, 2022.
🍁HCL Technologies: The company has launched a 5G Open Radio Access Network lab in India to help telecom companies with 5G transition.
🍁Axis Bank: The bank has accepted Executive Director Rajesh Dahiya’s early retirement. The said retirement will be effective after the close of business hours on December 31, 2021.
🍁Ashoka Buildcon: The company has acquired balance 40% stake in Ashoka Bettadahalli Shivamogga Road for Rs 2 lakh. ABSRPL is a special purpose vehicle incorporated to execute the project awarded by NHAI.
🍁Adani Total Gas: Supreme Court has dismissed company’s appeal in Ahmedabad distribution area. The company in addition to Ahmedabad and Daskori area had claimed authorisation for Sanand, Bavla & Dholka.
Pledge Share Details
💥Apollo Hospitals Enterprise: Promoters (Suneeta Reddy and Preetha Reddy) revoked pledge of 6 lakh shares on September 28.
💥Bharat Forge: Promoter Sundaram Trading & Investment created a pledge of 75 lakh shares on September 27.
Insider Trades
🔹Adani Green Energy: Promoter Infinite Trade and Investments bought 38 lakh shares between September 27-28.
🔹Aegis Logistics: Promoter Trans Asia Petroleum Inc. bought 74,000 shares on September 27.
🔹Gujarat Fluorochemicals: Promoter Inox Chemicals LLP sold 60,017 shares between September 24-28.
🔹Lincoln Pharmaceuticals: Promoters (Mahendrabhai Patel and Ashish Patel) bought 55,000 shares on September 27.
🔹Sequent Scientific: Promoters (Chayadeep Ventures LLP and Hemalatha Pillai) sold 1.34 lakh shares between September 24-28.
🔹Vaibhav Global: Promoter Kusum Bardiya sold 50,000 shares on September 28. Promoter Brett Enterprises bought 50,000 shares on September 28.
Who’s Meeting Whom
💫CARE Ratings: To meet Birla Mutual Fund on September 30
💫Graphite India: To meet Fidelity Management Research on September 30.
💫Persistent Systems: To meet investors and analysts on September 30.
Trading Tweaks
🔥Record Date Buyback: eClerx Services
🔥Move Into ASM Framework: Hindustan Oil Exploration Company
Money Market Update
☀️ Share K Saudagars' Exclusive Morning Market News & Update☀️
🍁Persistent Systems: The company’s wholly owned subsidiary, Persistent Systems Inc., USA, to acquire Software Corporation International and its affiliate Fusion360 LLC for $53 million. The company will acquire Shree Infosoft, India along with certain assets of Shree Partners LLC, USA—the parent company of Shree Infosoft—for $6.87 million. These acquisitions are subject to customary closing conditions which are expected to be completed in a span of 2-5 weeks.
🍁Sterling and Wilson Solar: Promoters Shapoorji Pallonji and Company and Khurshed Daruvala have facilitated the repayment of the balance outstanding loans (Rs 741 crore) along with interest accrued till date, by Sterling and Wilson and its subsidiary Sterling and Wilson International FZE to the company and its subsidiary Sterling and Wilson International Solar FZCO respectively. With this, the entire outstanding loans of Rs 2,563 crore along with interest accrued till date has been repaid in full, the company said.
🍁Indian Overseas Bank: The bank has exited RBI’s prompt corrective action framework. It is no longer in breach of PCA triggers based on FY21 earnings. IOB has provided a written commitment that it will comply with regulatory requirements. It has also apprised RBI of systemic improvements.
🍁GMR Infrastructure: The company’s equity shareholders and secured creditors have approved the composite scheme of amalgamation and arrangement amongst GMR Power Infra, GMR Infrastructure and GMR Power and Urban Infra and their respective shareholders during the NCLT convened meetings.
🍁Zee Entertainment Enterprises: Institutional investor, Invesco Fund, has moved NCLT asking Zee Entertainment to call an extraordinary general meeting of shareholders to induct its nominees on the company’s board.
🍁Blue Dart Express: The company will raise average shipment price by 9.6% from January 1, 2022.
🍁HCL Technologies: The company has launched a 5G Open Radio Access Network lab in India to help telecom companies with 5G transition.
🍁Axis Bank: The bank has accepted Executive Director Rajesh Dahiya’s early retirement. The said retirement will be effective after the close of business hours on December 31, 2021.
🍁Ashoka Buildcon: The company has acquired balance 40% stake in Ashoka Bettadahalli Shivamogga Road for Rs 2 lakh. ABSRPL is a special purpose vehicle incorporated to execute the project awarded by NHAI.
🍁Adani Total Gas: Supreme Court has dismissed company’s appeal in Ahmedabad distribution area. The company in addition to Ahmedabad and Daskori area had claimed authorisation for Sanand, Bavla & Dholka.
Pledge Share Details
💥Apollo Hospitals Enterprise: Promoters (Suneeta Reddy and Preetha Reddy) revoked pledge of 6 lakh shares on September 28.
💥Bharat Forge: Promoter Sundaram Trading & Investment created a pledge of 75 lakh shares on September 27.
Insider Trades
🔹Adani Green Energy: Promoter Infinite Trade and Investments bought 38 lakh shares between September 27-28.
🔹Aegis Logistics: Promoter Trans Asia Petroleum Inc. bought 74,000 shares on September 27.
🔹Gujarat Fluorochemicals: Promoter Inox Chemicals LLP sold 60,017 shares between September 24-28.
🔹Lincoln Pharmaceuticals: Promoters (Mahendrabhai Patel and Ashish Patel) bought 55,000 shares on September 27.
🔹Sequent Scientific: Promoters (Chayadeep Ventures LLP and Hemalatha Pillai) sold 1.34 lakh shares between September 24-28.
🔹Vaibhav Global: Promoter Kusum Bardiya sold 50,000 shares on September 28. Promoter Brett Enterprises bought 50,000 shares on September 28.
Who’s Meeting Whom
💫CARE Ratings: To meet Birla Mutual Fund on September 30
💫Graphite India: To meet Fidelity Management Research on September 30.
💫Persistent Systems: To meet investors and analysts on September 30.
Trading Tweaks
🔥Record Date Buyback: eClerx Services
🔥Move Into ASM Framework: Hindustan Oil Exploration Company
Money Market Update
🎯The rupee ended at 74.15 against the U.S. Dollar on Wednesday as compared to Tuesday's closing of 74.04.
IRCTC:-
Announced 29th OCT as record date for 1:5 Stock Split.
IRCTC:-
Announced 29th OCT as record date for 1:5 Stock Split.
GM jsk stock in news bel,BEML,astramicro,walchand,hal,bdl,bluedart,ion,morepenlab,pel,jkcem,birlacorp,pioneering,tcs, cleducate,indigo,bluestar,godrejprop,canarabk, sterling n will,auropharma, persistent. Negative stock id,kvb,zeeent. Nifty range 17550-17825.