Genus Power Infra Hits Life High After Order Win
Genus Power Infrastructures Ltd. shares hit the upper circuit and touched an all-time high after market open on Wednesday after it received orders for projects worth Rs 3,608.5 crore.
Cyient Touches Four-Month High As It Set To Offload Stakes In Arm
Cyient Ltd. scaled a four-month high level on Monday as the company will sale 14.5% stake in Cyient DLM Ltd on Aug 21.
Nifty, Sensex Open Lower As Private Banks Stocks Drag
Benchmarks opened lower on Wednesday as heavyweight HDFC Bank Ltd., ICICI Bank Ltd. dragged the benchmark index. Decline in Asian share indices also pressured the indices.
As of 09:17 a.m., the NSE Nifty 50 4.10 points or 0.02% higher at 24,702.95, and the BSE Sensex was flat at 80,801.08.
The Nifty 50 has moved higher near to the gap levels of 24,800 and crossover of the same would extend the move near to all time high, said Vikas Jain, head, research, Reliance Securities.
Any corrective action to the support of 24,400 levels over the next few days will be a good opportunity to add longs. RSI has been overbought on hourly charts and would witness some corrective action to test the lower band of averages. Highest call OI is at 25,000 strikes while the downside the highest put OI moved higher to 24,600 for the weekly expiry, Jain said.
HDFC Bank Ltd., ICICI Bank Ltd., Reliance Industries Ltd., Tata Consultancy Services Ltd., and Shriram Finance Ltd. weighed on the Nifty 50 index.
Bharti Airtel Ltd., Larsen & Toubro Ltd., ITC Ltd., Divi’s Laboratories Ltd., and Tata Motors Ltd. limited losses in the index.
On NSE, six sectors advanced, three declined, and three remained flat out of 12. The NSE Nifty Realty led losses, and the NSE Nifty Pharma logged most gains.
Broader markets outperformed benchmark indices. The BSE Midcap and Smallcap indices were 0.15% and 0.40% higher, respectively.
On BSE, 14 sectors advanced, and six declined out of 20. The BSE Industrial rose the most, and the BSE Realty declined the most.
On BSE, 2,046 stocks advanced, 847 stocks declined, and 141 stocks remained unchanged.
Nifty, Sensex Trade Lower At Pre-Open
The NSE Nifty 50 was 0.07% or 18.30 points lower at 24,680.55, and the BSE Sensex was 0.17% or 135.61 points lower at 80,667.25.
Jefferies On TRAI Telecom Data
Jio led the sector’s active subscriber additions
Bharti Airtel Ltd. gained market share in wireless broadband additions
Vodafone Idea Ltd. continues to lose subscribers
Jio’s lead in subscriber additions would have led it to take the lead in tariff hikes in Jun-24
Market gains may continue for Bharti/Jio in the near term
This could moderate in FY26 given Vodafone Idea’s recent capital raise.
Yield On The 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 6.85%.
It closed at 6.85% on Tuesday.
Source: Bloomberg
Rupee Weakens Against US Dollar
Rupee weakened 3 paise to open at 83.82 against the US dollar.
It closed at 83.79 on Tuesday.
Source: Bloomberg
Global Cues
U.S. Dollar Index at 101.46
U.S. 10-year bond yield at 3.81%
Brent crude down 0.19% at $77.05 per barrel
Nymex crude down 0.44% at $74.04 per barrel
Bitcoin rose 0.03% at $59,327.59
Cera Sanitaryware’s Buyback To Open On Aug 22
Cera Sanitaryware Ltd.’s buyback to open on August 22 and closed on August 28.
Source: Exchange filing
Samvardhana Motherson’s Units Merge
Motherson Innovations merged with arm Samvardhana Motherson Innovative Autosystems.
Alert: Motherson Innovations is an indirect subsidiary of company
Source: Exchange filing
F&O Cues
Nifty August futures up 0.47% to 24,711 at a premium of 13 points.
Nifty August futures open interest down by 1.77%.
Nifty Bank August futures up by 0.81% to 50,892 at a premium of 89 points.
Nifty Bank August futures open interest down by 8.5%.
Nifty Options Aug. 22 Expiry: Maximum call open interest at 25,000 and maximum put open interest at 24,300.
Bank Nifty Options Aug. 21 Expiry: Maximum call open interest at 51,000 and maximum put open interest at 50,000.
Securities in ban period: Aaarti Industries, Aditya Birla Fashion, Balrampur Chini Mills, Bandhan Bank, Birlasoft, Gujarat Narmada Valley Fertilizers & Chemicals, Granules India, Hindustan Copper, India Cements, LIC Housing Finance, Manappuram, National Aluminium, PEL, RBL Bank, SAIL, and Sun TV Network.
Insider Trade
Info Edge (India): Promoter Endeavour Holding Trust sold 10,500 shares on Aug. 19 and promoter Hitesh Oberoi sold 14,245 shares on Aug. 19.
Pledge Share Details
Apollo Micro Systems: Promoter Karunakar Reddy Baddam created a pledge for 30 lakh shares on Aug. 16.
Trading Tweaks
Ex/record dividend: Gateway Distriparks, ITD Cementation India, Engineers India, Snowman Logistics, Symphony, Pfizer, Credo Brands Marketing, LINC, KPI Green Energy, India Glyols, and HAL.
Ex/record AGM: ITD Cementation India, Urja Global, PCBL, India Glyols, Isgec Heavy Engineering, HAL.
Ex/record buyback: Symphony.
Moved into short term ASM Framework: GRM Overseas, Jeena Sikho Lifecare, PCBL, Sterling Tools, and UFLEX.
Moved out of short term ASM Framework: Century Enka, Fusion Micro Finance.
Sansera Engineering To Raise Rs 1,200 Crore
IPO Offering
Interarch Building Products: The public issue was subscribed to 10.84 times on day 2. The bids were led by non-institutional investors (30.82 times), employees reserved (11.75 times), retail investors (7.31 times), and qualified institutional investors (1.47 times).
Orient Technologies: The company will offer its shares for bidding on Wednesday. The price band is set from Rs 195 to Rs 206 per share. The Rs 214.8-crore IPO is a combination of a fresh issue of Rs 120 crore and the rest of the offer for sale.
Block Deals
HG Infra Engineering: Girishpal Singh Family Trust sold 6.08 lakh shares (0.93%) at Rs 1,566.5 apiece; Harendra Singh Family Trust sold 6.05 lakh shares (0.92%) at Rs 1,566.5 apiece; and Vijendra Singh Family Trust sold 5.82 lakh shares (0.89%) at Rs 1,566.5 apiece. Aditya Birla Sun Life Mutual Fund bought 4.87 lakh shares (0.74%) at Rs 1,566.5 apiece, Tata Mutual Fund bought 4.78 lakh shares (0.73%) at Rs 1,566.5 apiece, and Iti Mutual Fund bought 2.6 lakh shares (0.39%) at Rs 1,566.5 apiece.
Krishna Institute of Medical Sciences: India Advantage Fund S4-I sold 7.13 lakh shares (0.89%) at Rs 2,373.3 apiece and Dynamic India Fund S4 Us I sold 0.62 lakh shares (0.07%) at Rs 2,373.3 apiece. On the other hand, SBI Life Insurance Co. bought 7.75 lakh shares (0.89%) at Rs 2,373.3 apiece.
ADF Foods: Infinity Holdings sold 44 lakh shares (4%) at Rs 227.51 apiece, while Infinity Portfolio Holdings bought 44 lakh shares (4%) at Rs 227.51 apiece.
Bulk Deals
Zomato: ANTFIN Singapore Holding Pte. sold 18.54 crore shares (2.14%) at Rs 257.46 apiece.
Prataap Snacks: Rajesh Kumar Mehta sold 1.47 lakh shares (0.61%) at Rs 865.42 apiece.
Hinduja Global Solutions: Reliance Value Services Pvt. sold 2.36 lakh shares (0.5%) at Rs 730.36 apiece.
Ant Group’s Singapore Unit Sells 2.14% Stake In Zomato Worth Nearly Rs 4,771 Crore
Stocks To Watch
Cyient: The company approved the sale of a 14.5% stake in the arm of Cyient DLM via a block deal. The sale is to be completed by Aug. 21.
Sansera Engineering: The company approved raising funds of Rs 1,200 crore via QIP or other means.
Dhanuka Agritech: The company approved the buyback of 5 lakh shares at Rs 2,000 apiece. The total value of the buyback is Rs 100 crore.
Genus Power Infrastructure: The company received three orders worth Rs 3,609 crore for the appointment of advanced metering infrastructure service providers.
GE T&D India: Promoters are in the process of reviewing their shareholding structure and express strong intention to continue as the majority shareholder block of the company. The promoters also added that they would evaluate the possibility of a minority stake sale.
Petronet LNG: The company entered into a MoU for the supply of LNG with LTL Holdings in Sri Lanka.
CESC: The company’s arm incorporated a wholly owned subsidiary, Ecofusion Power, to explore opportunities in the renewable power sector.
Zaggle Prepaid Ocean Services: Zuzu Software Services sold a 4% stake in the company via the open market on Monday.
GIC Housing Finance: The company clarified that a report on the GIC weighing stake sale is incorrect. The company is unaware of any developments in this regard, it said.
P I Industries: The UK Companies Court approved the acquisition of Plant Health Care for £32.8 million. The acquisition is to be completed by Aug. 20.
BGR Energy Systems: The company received a letter of termination of contract from Jharkhand Urja Sancharan Nigam. There is no material impact on financials or operations.
Exide Industries: The company made an investment of Rs 75 crore into an arm. The company’s total investment in the arm stands at Rs 2,652 crore.
RMC Switchgears: The company’s unit received Rajasthan Renewable Energy Corp.’s nod to set up a 50 MW renewable energy park in the state.
NHPC: A subsidence or landslide occurred over the Tail Race Tunnel outlet structure and behind the gas-insulated substation building of the 510 MW Teesta-V power station in Sikkim. The station was undergoing restoration after the October flash floods.
Cyient Approves To Sell 14.5% Stake In Its Subsidiary
GIFT Nifty Trades Near 24,700
Indices in Asia tracked the snap of S&P 500 and Nasdaq Composite’s winning streak and opened lower. Japan’s Nikkei was 0.9% lower, Australia’s ASX 200 fell 0.50%, while South Korea’s Kospi traded flat.
US stocks faced challenges in gaining further ground, after a vigorous rally brought the market close to its all-time highs.
On Tuesday, a decline in equities broke what would have been the S&P 500’s ninth consecutive session of gains, its longest winning streak in two decades. This drop marked a sharp reversal from the negative momentum observed during the panic selling of early August.
The S&P 500 closed 0.20% lower at at 5,597.12, Dow Jones fell 0.15% to close at 40,834.97 and Nasdaq Composite ended at 17,816.94, down 0.33%.
At 6:32 a.m., gold was trading flat at $2,514.2 an ounce and brent crude was down 0.06% at $77.6 per barrel.
The GIFT Nifty was 0.04% or 10.50 points lower at 24,690.50 as of 6:46 a.m.
The NSE Nifty 50 extended gains for a fourth consecutive session and the S&P BSE Sensex continued its rally after a one-day blip to record their highest closing since Aug. 2, as shares of finance and information technology companies led gains. Nifty ended 126.20 points, or 0.51%, higher at 24,698.85 and Sensex was 378.18 points, or 0.47% up at 80,802.86.
Overseas investors stayed net sellers of Indian equities on Tuesday for the second consecutive day. Foreign portfolio investors offloaded stocks worth approximately Rs 1,458 crore, while domestic investors stayed net buyers for the 12th successive session and bought equities worth Rs 2,252.1 crore, according to provisional data from the National Stock Exchange.
The Indian currency strengthened by 8 paise to close at 83.79 against the US dollar.
Your Guide To FII Positions On Aug. 21 Trade. Read more on Markets by NDTV Profit.HDFC Bank Ltd., and ICICI Bank Ltd. were the top dragger in the NSE Nifty 50 index during open. Read MoreMarkets, Business, Notifications
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