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.
*Economic calendar, September 30th 2021*
🇯🇵 *Japan* : Retail Sales (YoY) (Aug), Industrial Production forecast 1m ahead (MoM) (Sep), Industrial Production forecast 2m ahead (MoM) (Oct), Industrial Production (MoM) (Aug), Foreign Investments in Japanese Stocks, Foreign Bonds Buying, Construction Orders (YoY) (Aug), Housing Starts (YoY) (Aug), BoJ Governor Kuroda Speaks
🇨🇳 *China* : Chinese Composite PMI (Sep), Non-Manufacturing PMI (Sep), Manufacturing PMI (Sep), Caixin Manufacturing PMI (Sep)
🇸🇬 *Singapore* : Bank Lending
🇪🇺 *Euro* : German Import Price Index (YoY) (Aug), German Import Price Index (MoM) (Aug), German Unemployment Rate (Sep), German Unemployment n.s.a. (Sep), German Unemployment (Sep), German Unemployment Change (Sep), Unemployment Rate (Aug), German HICP (MoM) (Sep), German CPI (MoM) (Sep), German CPI (YoY) (Sep), German HICP (YoY) (Sep)
🇬🇧 *Great Britain* : Current Account (Q2), Business Investment (QoQ) (Q2), Business Investment (YoY) (Q2), GDP (YoY) (Q2), GDP (QoQ) (Q2), Nationwide HPI (MoM) (Sep), Nationwide HPI (YoY) (Sep)
🇮🇳 *India* : Federal Fiscal Deficit (Aug), RBI Monetary and Credit Information Review, Infrastructure Output (YoY) (Aug), Foreign Debt (USD) (Q2)
🇭🇰 *Hong Kong* : Retail Sales (YoY) (Aug), M3 Money Supply (Aug)
🇺🇸 *USA* : Corporate Profits (QoQ) (Q2), Real Consumer Spending (Q2), Core PCE Prices (Q2), PCE Prices (Q2), GDP (QoQ) (Q2), GDP Sales (Q2), GDP Price Index (QoQ) (Q2), Initial Jobless Claims, Jobless Claims 4-Week Avg., Continuing Jobless Claims, Chicago PMI (Sep), FOMC Member Williams Speaks, Natural Gas Storage, FOMC Member Bostic Speaks, 4-Week Bill Auction, 8-Week Bill Auction.
🇯🇵 *Japan* : Retail Sales (YoY) (Aug), Industrial Production forecast 1m ahead (MoM) (Sep), Industrial Production forecast 2m ahead (MoM) (Oct), Industrial Production (MoM) (Aug), Foreign Investments in Japanese Stocks, Foreign Bonds Buying, Construction Orders (YoY) (Aug), Housing Starts (YoY) (Aug), BoJ Governor Kuroda Speaks
🇨🇳 *China* : Chinese Composite PMI (Sep), Non-Manufacturing PMI (Sep), Manufacturing PMI (Sep), Caixin Manufacturing PMI (Sep)
🇸🇬 *Singapore* : Bank Lending
🇪🇺 *Euro* : German Import Price Index (YoY) (Aug), German Import Price Index (MoM) (Aug), German Unemployment Rate (Sep), German Unemployment n.s.a. (Sep), German Unemployment (Sep), German Unemployment Change (Sep), Unemployment Rate (Aug), German HICP (MoM) (Sep), German CPI (MoM) (Sep), German CPI (YoY) (Sep), German HICP (YoY) (Sep)
🇬🇧 *Great Britain* : Current Account (Q2), Business Investment (QoQ) (Q2), Business Investment (YoY) (Q2), GDP (YoY) (Q2), GDP (QoQ) (Q2), Nationwide HPI (MoM) (Sep), Nationwide HPI (YoY) (Sep)
🇮🇳 *India* : Federal Fiscal Deficit (Aug), RBI Monetary and Credit Information Review, Infrastructure Output (YoY) (Aug), Foreign Debt (USD) (Q2)
🇭🇰 *Hong Kong* : Retail Sales (YoY) (Aug), M3 Money Supply (Aug)
🇺🇸 *USA* : Corporate Profits (QoQ) (Q2), Real Consumer Spending (Q2), Core PCE Prices (Q2), PCE Prices (Q2), GDP (QoQ) (Q2), GDP Sales (Q2), GDP Price Index (QoQ) (Q2), Initial Jobless Claims, Jobless Claims 4-Week Avg., Continuing Jobless Claims, Chicago PMI (Sep), FOMC Member Williams Speaks, Natural Gas Storage, FOMC Member Bostic Speaks, 4-Week Bill Auction, 8-Week Bill Auction.
*SGX Nifty -60 pts (17650) from last trade 17710 ,*
Nikkei -111 pts ,
Hangseng -169 pts ,
Now @6.54am .
Dow +90.73 pts ,Nsdq -34.24 pts, S&P
+6.83 pts,, Bovespa +982 pts , Ftse +80 pts , Dax +116 pts , Cac +54 pts , Crude @ $74.74 brl (-0.09), Brent @ $78.64 brl (-0.00) , Gold @ 1726.20 (+4.70), Silver @ $21.535 (+0.05), Euro @ $1.16, JPY @ $111.95, INR @ 74.325
*Today's Corporate Action*
*30th Sep Ex Date*
CLEDUCATE
Stock Split From Rs.10/- to Rs.5/-
UNIAUTO
Final Dividend - Rs. - 0.5000
*Today's Key Results/Board Meetings*
*30-Sep-21*
DHANVARSHA
General
ESHAMEDIA
A.G.M.
HINDEVER
Stock Split
RELTD
General
SANTETX
Issue Of Warrants
SOFTSOL
General
VAICC
A.G.M.
*Stock under F&O ban on NSE*
*30-Sep-21*
1SUNTV
Nikkei -111 pts ,
Hangseng -169 pts ,
Now @6.54am .
Dow +90.73 pts ,Nsdq -34.24 pts, S&P
+6.83 pts,, Bovespa +982 pts , Ftse +80 pts , Dax +116 pts , Cac +54 pts , Crude @ $74.74 brl (-0.09), Brent @ $78.64 brl (-0.00) , Gold @ 1726.20 (+4.70), Silver @ $21.535 (+0.05), Euro @ $1.16, JPY @ $111.95, INR @ 74.325
*Today's Corporate Action*
*30th Sep Ex Date*
CLEDUCATE
Stock Split From Rs.10/- to Rs.5/-
UNIAUTO
Final Dividend - Rs. - 0.5000
*Today's Key Results/Board Meetings*
*30-Sep-21*
DHANVARSHA
General
ESHAMEDIA
A.G.M.
HINDEVER
Stock Split
RELTD
General
SANTETX
Issue Of Warrants
SOFTSOL
General
VAICC
A.G.M.
*Stock under F&O ban on NSE*
*30-Sep-21*
1SUNTV
*NEW F&O INCLUSIONS*
*8 new stocks in FNO from Oct*
Abbott India,
Crompton
Greaves Consumer Electricals,
Dalmia Bharat,
Delta Corp,
India Cements,
JK Cement,
Oberoi Realty
Persistent Systems
*8 new stocks in FNO from Oct*
Abbott India,
Crompton
Greaves Consumer Electricals,
Dalmia Bharat,
Delta Corp,
India Cements,
JK Cement,
Oberoi Realty
Persistent Systems
Intraday Call or Short Term Call
Buy Roto Pump at CMP of 330 - 333 and dips till 325
SL 322
Targets:- 336 - 338 - 340 - 342 - 345 - 348
Disclaimer:- I am not SEBI Registered.Please consult your financial advisor before investing.
Buy Roto Pump at CMP of 330 - 333 and dips till 325
SL 322
Targets:- 336 - 338 - 340 - 342 - 345 - 348
Disclaimer:- I am not SEBI Registered.Please consult your financial advisor before investing.
Market Wizard
ADDED BCG AT 28.65
BCG 58.5❤️❤️❤️
UC LOCKED 🔐🔐
NEW 52 WEEK HIGH
855.88% RETURNS FROM OUR ORIGINAL BUY RECOMMENDATION OF 6.12 RS (7.65 PRE BONUS RATE)
UC LOCKED 🔐🔐
NEW 52 WEEK HIGH
855.88% RETURNS FROM OUR ORIGINAL BUY RECOMMENDATION OF 6.12 RS (7.65 PRE BONUS RATE)
Market Wizard
Short Term Super Duper Aggressive Call Buy BPL at CMP of 35.5 - 36.3 and dips till 34.3 Sl 33.9 Targets:- 36.7 - 37.2 - 38 - 38.8 - 39.5 - 40+ Above 40 we can see 42 - 44+ Disclaimer:- I am not SEBI Registered. Please consult your financial advisor before…
BPL 119.75❤️❤️
UC LOCKED🔐🔐
NEW 52 WEEK HIGH
UC LOCKED🔐🔐
NEW 52 WEEK HIGH
Market Wizard
Short Term Fundamental Blaster Call Buy Golden Tobacco at CMP of 49.3 - 50 and dips till 46 Sl 44 Targets:- 52 - 53 - 54 - 55 + Above 55 we can see 58 - 61 - 64 Disclaimer:- I am not SEBI Registered. Please consult your financial advisor before investing.…
GOLDEN TOBACCO 149.6❤️❤️
UC LOCKED🔐🔐
NEW 52 WEEK HIGH
UC LOCKED🔐🔐
NEW 52 WEEK HIGH
Market Wizard
Mid Term Fundamental Pick Buy NTC Ind at CMP of 77 - 78.5 and dips of 70 Sl 65 Targets:- 82 - 83.5 - 85 - 87 - 88+ Above 88 we can see 92 - 97 - 103 - 108+ Disclaimer:- I am not SEBI Registered. Please consult your financial advisor before investing. Bse…
NTC IND 152.65❤️❤️
UC LOCKED🔐🔐
NEW 52 WEEK HIGH
UC LOCKED🔐🔐
NEW 52 WEEK HIGH