*🌹India Daybook – Stocks in News*
*EIH Limited:* Reliance Industries and Oberoi Hotels & Resorts to co-manage three hospitality projects in India & the UK (Positive)
*Defence Stocks:* Defence Acquisition Council approves proposals worth Rs 7,800 crore. (Positive)
*Vedanta:* Received arbitration award upholding company’s contention in Rajasthan block case (Positive)
*Bharti Airtel:* Company net adds 14.1 lakh users in June Vs 13.3 lakh (MoM) (Positive)
*Astra Microwave:* Company has bagged orders worth Rs 158 crore (Positive)
*HCL Tech:* Company collaborates with AWS to drive GenAI adoption (Positive)
*Bharat Electronics:* Defence Acquisition Council has granted Acceptance of Necessity for procurement and installation of electronic warfare. (Positive)
*Granules:* Receives Accreditation Certificate Of Foreign Drug Manufacturer From Pharmaceuticals & Medical Devices Agency, Japan For Jeedimetla Facility. (Positive)
*Supreme Ind:* Acquires Parvati Agro Plast’s PVC Pipes Biz For Rs 235 Crores (Positive)
*IBull Housing:* Repays Rs 2232 Crores To ANZ Banking Group, Barclays Bank Plc & SBI (Positive)
*Kaynes Technology:* Company said it has signed a MoU with the Karnataka government to drive innovation. (Positive)
*Universal Autofoundry:* Ashish Kacholia has picked up a stake in iron casting maker Universal Autofoundry through block deals (Positive)
*Infosys:* Company has on boarded Tennis icon Rafael Nadal as ambassador for the brand and Infosys’ Digital Innovation (Positive)
*Garden Reach:* Company signed an MoU with DEMPO to launch a collaboration model to build commercial vessels in their shipyards in Goa and Bhavnagar, Gujarat. (Positive)
*KPI Green Energy:* Company received commissioning certificates from the GEDA for a 4.10 MW wind-solar hybrid power project (Positive)
*SKF India:* Company has acquired a 26% stake in Cleanmax Taiyo. (Positive)
*Prakash Industries:* Company received the Environment Ministry's approval for the Bhaskarpara coal mine in Chhattisgarh (Positive)
*Amber:* The Government of Singapore bought four lakh shares at Rs 2,800 per share. (Positive)
*Man Infra:* Promoter Mansi P. Shah bought 1.25 lakh shares between Aug. 23 and 24 (Positive)
*NRB Bearings:* Promoter Aziz Yousuf Zaveri bought 2.3 lakh shares between Aug. 22 and 23. (Positive)
*SBI:* Chairman Dinesh Khara likely to get a 10-month extension, sources to (Neutral)
*Reliance;* Jio net adds 22.7 lakh users in June Vs 30.4 lakh (MoM) (Neutral)
*Hero MotoCorp:* Company launched new Glamour in two variants drum & disc at ₹82,348 & ₹86,348 respectively (Neutral)
*Paytm* holder Antfin to offer 2.3 crore shares via Block Deal, at ₹880.10/share on August 25. (Neutral)
*Shoppers Stop:* Venugopal G Nair has resigned as MD & CEO of the department store chain with effect from August 31, 2023. (Neutral)
*Max Fin:* Max Ventures Investment Holdings, a promoter group entity of Max Financial Services, on Thursday, sold 3.3% stake (Neutral)
*DB Realty:* Company sold its entire stake in unit Royal Netra Constructions for Rs 2.55 crore (Neutral)
*RBL Bank:* CDC Group sold 99 lakh shares at Rs 230.02 per share. (Neutral)
*EIH Limited:* Reliance Industries and Oberoi Hotels & Resorts to co-manage three hospitality projects in India & the UK (Positive)
*Defence Stocks:* Defence Acquisition Council approves proposals worth Rs 7,800 crore. (Positive)
*Vedanta:* Received arbitration award upholding company’s contention in Rajasthan block case (Positive)
*Bharti Airtel:* Company net adds 14.1 lakh users in June Vs 13.3 lakh (MoM) (Positive)
*Astra Microwave:* Company has bagged orders worth Rs 158 crore (Positive)
*HCL Tech:* Company collaborates with AWS to drive GenAI adoption (Positive)
*Bharat Electronics:* Defence Acquisition Council has granted Acceptance of Necessity for procurement and installation of electronic warfare. (Positive)
*Granules:* Receives Accreditation Certificate Of Foreign Drug Manufacturer From Pharmaceuticals & Medical Devices Agency, Japan For Jeedimetla Facility. (Positive)
*Supreme Ind:* Acquires Parvati Agro Plast’s PVC Pipes Biz For Rs 235 Crores (Positive)
*IBull Housing:* Repays Rs 2232 Crores To ANZ Banking Group, Barclays Bank Plc & SBI (Positive)
*Kaynes Technology:* Company said it has signed a MoU with the Karnataka government to drive innovation. (Positive)
*Universal Autofoundry:* Ashish Kacholia has picked up a stake in iron casting maker Universal Autofoundry through block deals (Positive)
*Infosys:* Company has on boarded Tennis icon Rafael Nadal as ambassador for the brand and Infosys’ Digital Innovation (Positive)
*Garden Reach:* Company signed an MoU with DEMPO to launch a collaboration model to build commercial vessels in their shipyards in Goa and Bhavnagar, Gujarat. (Positive)
*KPI Green Energy:* Company received commissioning certificates from the GEDA for a 4.10 MW wind-solar hybrid power project (Positive)
*SKF India:* Company has acquired a 26% stake in Cleanmax Taiyo. (Positive)
*Prakash Industries:* Company received the Environment Ministry's approval for the Bhaskarpara coal mine in Chhattisgarh (Positive)
*Amber:* The Government of Singapore bought four lakh shares at Rs 2,800 per share. (Positive)
*Man Infra:* Promoter Mansi P. Shah bought 1.25 lakh shares between Aug. 23 and 24 (Positive)
*NRB Bearings:* Promoter Aziz Yousuf Zaveri bought 2.3 lakh shares between Aug. 22 and 23. (Positive)
*SBI:* Chairman Dinesh Khara likely to get a 10-month extension, sources to (Neutral)
*Reliance;* Jio net adds 22.7 lakh users in June Vs 30.4 lakh (MoM) (Neutral)
*Hero MotoCorp:* Company launched new Glamour in two variants drum & disc at ₹82,348 & ₹86,348 respectively (Neutral)
*Paytm* holder Antfin to offer 2.3 crore shares via Block Deal, at ₹880.10/share on August 25. (Neutral)
*Shoppers Stop:* Venugopal G Nair has resigned as MD & CEO of the department store chain with effect from August 31, 2023. (Neutral)
*Max Fin:* Max Ventures Investment Holdings, a promoter group entity of Max Financial Services, on Thursday, sold 3.3% stake (Neutral)
*DB Realty:* Company sold its entire stake in unit Royal Netra Constructions for Rs 2.55 crore (Neutral)
*RBL Bank:* CDC Group sold 99 lakh shares at Rs 230.02 per share. (Neutral)
👍1
*Global bits*
✒️Major indexes fall 1%, focus shifts to upcoming Powell speech
✒️India economic growth likely picked up pace in April-June: Reuters poll
✒️China's property crisis leaves Country Garden with unpaid workers, silent sites
✒️Exclusive: China asks banks to limit some Connect bond outflows
✒️Dollar loiters at two-month peak ahead of Powell speech
✒️Tokyo core CPI rises 2.8% year/year in Aug – govt
✒️Analysis: Stimulus or bust: Investors staying out of China until the spending starts
✒️Oil heads for weekly fall on demand worries, dollar strength
✒️TSX ends lower as tech falls, investors weigh bank earnings
✒️UK stocks end mixed, Jackson Hole summit in focus
✒️European shares fall as chipmakers surrender gains, economic woes loom
✒️S.African rand falls as dollar rises ahead of Fed symposium
✒️Major Gulf markets rise ahead of Powell's speech
✒️Bounce in European property stocks: false start or turning point?
✒️Irish consumer sentiment weakens, wiping out recent modest gains
✒️Inflation in Japan's capital slows in August, stays above BOJ target
✒️Japan budget requests likely to top 110 trln yen as rates rise – Nikkei
✒️US jobless claims fall, core capital goods orders grow incrementally
✒️Turkey shocks with big rate hike to 25%, boosting lira
✒️Bank Indonesia holds rates steady, plans new way to attract inflows
Source: Reuters
T.me/AlliesFin
✒️Major indexes fall 1%, focus shifts to upcoming Powell speech
✒️India economic growth likely picked up pace in April-June: Reuters poll
✒️China's property crisis leaves Country Garden with unpaid workers, silent sites
✒️Exclusive: China asks banks to limit some Connect bond outflows
✒️Dollar loiters at two-month peak ahead of Powell speech
✒️Tokyo core CPI rises 2.8% year/year in Aug – govt
✒️Analysis: Stimulus or bust: Investors staying out of China until the spending starts
✒️Oil heads for weekly fall on demand worries, dollar strength
✒️TSX ends lower as tech falls, investors weigh bank earnings
✒️UK stocks end mixed, Jackson Hole summit in focus
✒️European shares fall as chipmakers surrender gains, economic woes loom
✒️S.African rand falls as dollar rises ahead of Fed symposium
✒️Major Gulf markets rise ahead of Powell's speech
✒️Bounce in European property stocks: false start or turning point?
✒️Irish consumer sentiment weakens, wiping out recent modest gains
✒️Inflation in Japan's capital slows in August, stays above BOJ target
✒️Japan budget requests likely to top 110 trln yen as rates rise – Nikkei
✒️US jobless claims fall, core capital goods orders grow incrementally
✒️Turkey shocks with big rate hike to 25%, boosting lira
✒️Bank Indonesia holds rates steady, plans new way to attract inflows
Source: Reuters
T.me/AlliesFin
JIO FIN LOWER CIRCUIT OPEN
Why is Jio financial services, JIOFIN at lower circuit every day? It's one of the pitfalls of having so much money in index funds - forced selling
The largest Indian mutual fund scheme is the SBI Nifty 50 ETF. It has 160,000 cr. in assets. It tracks the NIFTY 50 Index. Also, if you just add the list of funds that track the Nifty 50, you will see over 270,000 crore in Indian mutual funds that track the Nifty.
In the Nifty is Reliance Industries at a weightage of about 10%. It used to be 11%, but then JIOFIN was demerged out of it, and effectively, 1% of the NIFTY is in JIOFIN.
Because Reliance was in the index, JIOFIN, as a demerger result, is also kept in the index. In a set of rules in March 2023, the NSE said this:
* when an index stock demerges, the demerged stock will be part of the index till it lists
* after it lists, it will still be there for three days after which it will be removed from the index
* if it hits circuits for the first two days, it remains in the index for another two days.
JIOFIN listed on Monday. It hit the lower circuit on Monday and Tuesday, so it will stay in the index till Friday. If it keeps hitting the lower circuit, it will remain in the index until a day when it doesn't hit the circuits and boom, the next day it's out.
Complex? That's because of the index funds. JIOFIN doesn't qualify to be in the index (not enough listed history etc) So it should be removed. But because Index Funds own all the stocks in the Nifty, they will also have JIOFIN through the demerger. Remember all shareholders of Reliance got an equal number of shares of JIOFIN.
You can't remove JIOFIN from the index. Because the funds can't sell JIOFIN. If you removed JIOFIN from the index, the weights of all stocks would change but because Index funds can't sell it, they would have the wrong weights and not be able to track the index properly.
So the rule explains things: when JIOFIN lists and there's some time to sell it (assuming no circuits) then JIOFIN is removed.
Why is JIOFIN falling? Because these index funds want to sell it - the minute it is out of the lower circuit, it's out of the index so they need to be out of it by then.
Basically, they don't care if JIOFIN is a good co. It's like hello, it's not in the index, so I sell boss, don't care about anything else. This is "forced selling".
Now how much is there? Consider that 270,000 cr. is in Indian index funds (apart from active mutual funds that hold Reliance - those funds don't have to sell and can hold it for longer)
1% of that is 2,700 crores. That's the quantity that will be forced to sell, roughly. At Rs. 224 per share, that is roughly 12 crore shares that index funds must sell.
The current sell quantities on the exchange (NSE) are around 14 crore shares. Only 42 lakh shares have actually traded. Until this selling is absorbed, we'll see these lower circuits. It doesn't matter how good or bad the company is.
Why is Jio financial services, JIOFIN at lower circuit every day? It's one of the pitfalls of having so much money in index funds - forced selling
The largest Indian mutual fund scheme is the SBI Nifty 50 ETF. It has 160,000 cr. in assets. It tracks the NIFTY 50 Index. Also, if you just add the list of funds that track the Nifty 50, you will see over 270,000 crore in Indian mutual funds that track the Nifty.
In the Nifty is Reliance Industries at a weightage of about 10%. It used to be 11%, but then JIOFIN was demerged out of it, and effectively, 1% of the NIFTY is in JIOFIN.
Because Reliance was in the index, JIOFIN, as a demerger result, is also kept in the index. In a set of rules in March 2023, the NSE said this:
* when an index stock demerges, the demerged stock will be part of the index till it lists
* after it lists, it will still be there for three days after which it will be removed from the index
* if it hits circuits for the first two days, it remains in the index for another two days.
JIOFIN listed on Monday. It hit the lower circuit on Monday and Tuesday, so it will stay in the index till Friday. If it keeps hitting the lower circuit, it will remain in the index until a day when it doesn't hit the circuits and boom, the next day it's out.
Complex? That's because of the index funds. JIOFIN doesn't qualify to be in the index (not enough listed history etc) So it should be removed. But because Index Funds own all the stocks in the Nifty, they will also have JIOFIN through the demerger. Remember all shareholders of Reliance got an equal number of shares of JIOFIN.
You can't remove JIOFIN from the index. Because the funds can't sell JIOFIN. If you removed JIOFIN from the index, the weights of all stocks would change but because Index funds can't sell it, they would have the wrong weights and not be able to track the index properly.
So the rule explains things: when JIOFIN lists and there's some time to sell it (assuming no circuits) then JIOFIN is removed.
Why is JIOFIN falling? Because these index funds want to sell it - the minute it is out of the lower circuit, it's out of the index so they need to be out of it by then.
Basically, they don't care if JIOFIN is a good co. It's like hello, it's not in the index, so I sell boss, don't care about anything else. This is "forced selling".
Now how much is there? Consider that 270,000 cr. is in Indian index funds (apart from active mutual funds that hold Reliance - those funds don't have to sell and can hold it for longer)
1% of that is 2,700 crores. That's the quantity that will be forced to sell, roughly. At Rs. 224 per share, that is roughly 12 crore shares that index funds must sell.
The current sell quantities on the exchange (NSE) are around 14 crore shares. Only 42 lakh shares have actually traded. Until this selling is absorbed, we'll see these lower circuits. It doesn't matter how good or bad the company is.
👍1
*5 big takeaways from RIL AGM Today*
🚀 Reliance puts a firm succession plan in place:
RIL Board recommends appointment of Isha Ambani, Akash Ambani and Anant Ambani on the Board of Directors
Nita Ambani to step down from the Board
🚀 JIO AirFiber to launch on 15th September
AirFiber is an ultra high speed 5G hot spot device to deliver fiber like 5G speed at home or office without any wires
🚀 reliance retail to be the fastest growing business in revenues and ebitda
Global and strategic investors have shown interest in the retail business
Reliance retail is one of the largest employers in the country with 2.5 lakh employees on roll
🚀 Jio financial services to enter insurance sector with global partners , to launch life, general and health insurance products
🚀 reliance goes big on clean energy, to set up a battery GIGA factory by 2026 , targets 100 GW of renewable energy capacity by 2030
🚀 Reliance puts a firm succession plan in place:
RIL Board recommends appointment of Isha Ambani, Akash Ambani and Anant Ambani on the Board of Directors
Nita Ambani to step down from the Board
🚀 JIO AirFiber to launch on 15th September
AirFiber is an ultra high speed 5G hot spot device to deliver fiber like 5G speed at home or office without any wires
🚀 reliance retail to be the fastest growing business in revenues and ebitda
Global and strategic investors have shown interest in the retail business
Reliance retail is one of the largest employers in the country with 2.5 lakh employees on roll
🚀 Jio financial services to enter insurance sector with global partners , to launch life, general and health insurance products
🚀 reliance goes big on clean energy, to set up a battery GIGA factory by 2026 , targets 100 GW of renewable energy capacity by 2030
👌1
*INSTL. INVESTORS EQUITY DERIVAT. TRADES AS ON : 28-08-2023 :*
*FIIS F & O : RS. CRS. :*
*TOTAL NET BUY : +1159* 😃
*INDEX FUT. : +674*
*INDEX OPT. : -281*
*STOCK FUT. : +506*
*STOCK OPT. : +260*
*SEC. IN F&O BAN FOR, 29-Aug-23 :*
*1. BHEL 2. RBLBK 3. ESCORTS 4. IBULHSGFIN 5. INDIACEM 6. SUNTV 7. GMRINFRA 8. HINDCOPPER 9. MANAPPURAM*
*ADDITION : IBULHSGFIN*
*DELETION : NIL*
*INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 28-AUG-2023 :*
*FIIS : SELL -1,393 (10,235-11,628)* 😥
*DIIS : BUY +1,264 (7,711-6,447)* 😃
*BSE SENSEX : +110 (64,996)🔼*
*NSE NIFTY : +40 (19,306)*🔼
*BSE MIDCAP. : +181 (30,899)*🔼
*BSE SMLCAP. : +242 (36,298)*🔼
*B. CRUDE : $ 84.37* 🔼 😩
*GOLD: $1920=INR 58,570(10gr)* ↔️ 😳
*SILVER : RS. 77,200 (kg) (5pm)* 🔼 😊
*FOREX : RS. $ 82.63 🔼 🙂*
*7.26% GOI '33 : 7.1799%(100.5350)🔽🙂*
*7.18% NEW '33 : 7.1509%(100.20)🔽😊*
*7.18% GOI '37 : 7.2423% (99.45)🔽😊*
*FIIS F & O : RS. CRS. :*
*TOTAL NET BUY : +1159* 😃
*INDEX FUT. : +674*
*INDEX OPT. : -281*
*STOCK FUT. : +506*
*STOCK OPT. : +260*
*SEC. IN F&O BAN FOR, 29-Aug-23 :*
*1. BHEL 2. RBLBK 3. ESCORTS 4. IBULHSGFIN 5. INDIACEM 6. SUNTV 7. GMRINFRA 8. HINDCOPPER 9. MANAPPURAM*
*ADDITION : IBULHSGFIN*
*DELETION : NIL*
*INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 28-AUG-2023 :*
*FIIS : SELL -1,393 (10,235-11,628)* 😥
*DIIS : BUY +1,264 (7,711-6,447)* 😃
*BSE SENSEX : +110 (64,996)🔼*
*NSE NIFTY : +40 (19,306)*🔼
*BSE MIDCAP. : +181 (30,899)*🔼
*BSE SMLCAP. : +242 (36,298)*🔼
*B. CRUDE : $ 84.37* 🔼 😩
*GOLD: $1920=INR 58,570(10gr)* ↔️ 😳
*SILVER : RS. 77,200 (kg) (5pm)* 🔼 😊
*FOREX : RS. $ 82.63 🔼 🙂*
*7.26% GOI '33 : 7.1799%(100.5350)🔽🙂*
*7.18% NEW '33 : 7.1509%(100.20)🔽😊*
*7.18% GOI '37 : 7.2423% (99.45)🔽😊*
*News Headlines from Business News Agencies :*
*Business Standard :*
• ARPU of Indian telcos to rise 8-10% to Rs 190 this year, says CRISIL
• RIL AGM: Jio AirFiber to launch on Ganesh Chaturthi, says Mukesh Ambani
• Retail value of Reliance Retail doubled in less than 3 years: Isha Ambani
• Reliance to set up a battery GIGA factory in Jamnagar by 2026
• Reliance set target to establish 100 compressed biogas plants in next 5 years
• E-commerce, FMCG demand for electric vehicles doubles in FY24
• Japan's Mercari opens centre of excellence in Bengaluru, its first in India
• Go First extends flight cancellation till August 31 from August 27
• Indian steel mills flag concerns over rising Chinese steel imports
• Shell India appoints Mansi Madan Tripathy as new country chair
• Glenmark recalls 1,200 bottles of generic hypertension drug in US
• Solar mission Aditya-L1 to be launched on Sept 2 from Sriharikota: Isro
*Economic Times :*
• Jio Financial Services capitalised with net worth of Rs 1.2 lakh crore: Mukesh Ambani
• Mansi Madan Tripathy to take over as country chair of Shell India
• NCLAT grants partial relief to Jet bidder JKC on terms of payment
• Engineers India teams up with Australia’s Sunrise CSP group for energy projects
• Jio Financial Services to enter insurance sector, says Mukesh Ambani
• Solar capacity addition in India declines 58 per cent to 1.7 GW in Apr-Jun: Mercom India
• JK Lakshmi Cement shareholders reject proposal to increase inter corporate transaction limit to Rs 10,000 crore
• Morgan Stanley partners with Prakhhyat Group for warehousing project in Bhiwandi
• Kalyani Rafael Advanced Systems bags Rs 287.51 cr order to supply missile systems
• MICL associate co to undertake 10-acre redevelopment project in Mumbai’s Goregaon
• Tata Steel sees lower China exports, higher prices
• TVS Motors to invest Rs 3,900 crore in the next 4-5 years to boost green portfolio
*Mint :*
• Nita Ambani to step down from RIL Board,Isha, Akash,Anant appointed as directors
• Procter & Gamble India appoints Mukta Maheshwari as CMO
• BPCL to invest ₹1.5 trillion in transformative initiative
• Brightcom leadership exit: MD Suresh Reddy and CFO Narayana Raju resign
• Vodafone Idea extends OCD redemption allotted to ATC by one year
• Sterlite Power clinches second Rajasthan green energy transmission project
• China Evergrande records $4.5 billion loss in first half of the year
• SoftBank India scores over $5.5 billion exits since 2018
• Govt plans to extend retirement age of LIC Chairman and heads, MDs of other PSBs
• Schaeffler India acquires 100% stake in KRSV Innovative Auto for ₹143 crore
• Venus Remedies gets marketing approval from Saudi Arabia for its product Enoxaparin in pre-filled syringes
• Man Infra takes a redevelopment project in Mumbai, revenue potential at ₹4,000 cr over 5 years
*Business Standard :*
• ARPU of Indian telcos to rise 8-10% to Rs 190 this year, says CRISIL
• RIL AGM: Jio AirFiber to launch on Ganesh Chaturthi, says Mukesh Ambani
• Retail value of Reliance Retail doubled in less than 3 years: Isha Ambani
• Reliance to set up a battery GIGA factory in Jamnagar by 2026
• Reliance set target to establish 100 compressed biogas plants in next 5 years
• E-commerce, FMCG demand for electric vehicles doubles in FY24
• Japan's Mercari opens centre of excellence in Bengaluru, its first in India
• Go First extends flight cancellation till August 31 from August 27
• Indian steel mills flag concerns over rising Chinese steel imports
• Shell India appoints Mansi Madan Tripathy as new country chair
• Glenmark recalls 1,200 bottles of generic hypertension drug in US
• Solar mission Aditya-L1 to be launched on Sept 2 from Sriharikota: Isro
*Economic Times :*
• Jio Financial Services capitalised with net worth of Rs 1.2 lakh crore: Mukesh Ambani
• Mansi Madan Tripathy to take over as country chair of Shell India
• NCLAT grants partial relief to Jet bidder JKC on terms of payment
• Engineers India teams up with Australia’s Sunrise CSP group for energy projects
• Jio Financial Services to enter insurance sector, says Mukesh Ambani
• Solar capacity addition in India declines 58 per cent to 1.7 GW in Apr-Jun: Mercom India
• JK Lakshmi Cement shareholders reject proposal to increase inter corporate transaction limit to Rs 10,000 crore
• Morgan Stanley partners with Prakhhyat Group for warehousing project in Bhiwandi
• Kalyani Rafael Advanced Systems bags Rs 287.51 cr order to supply missile systems
• MICL associate co to undertake 10-acre redevelopment project in Mumbai’s Goregaon
• Tata Steel sees lower China exports, higher prices
• TVS Motors to invest Rs 3,900 crore in the next 4-5 years to boost green portfolio
*Mint :*
• Nita Ambani to step down from RIL Board,Isha, Akash,Anant appointed as directors
• Procter & Gamble India appoints Mukta Maheshwari as CMO
• BPCL to invest ₹1.5 trillion in transformative initiative
• Brightcom leadership exit: MD Suresh Reddy and CFO Narayana Raju resign
• Vodafone Idea extends OCD redemption allotted to ATC by one year
• Sterlite Power clinches second Rajasthan green energy transmission project
• China Evergrande records $4.5 billion loss in first half of the year
• SoftBank India scores over $5.5 billion exits since 2018
• Govt plans to extend retirement age of LIC Chairman and heads, MDs of other PSBs
• Schaeffler India acquires 100% stake in KRSV Innovative Auto for ₹143 crore
• Venus Remedies gets marketing approval from Saudi Arabia for its product Enoxaparin in pre-filled syringes
• Man Infra takes a redevelopment project in Mumbai, revenue potential at ₹4,000 cr over 5 years
👍1
*📰🆂🆃🅾🅲🅺 🔛 🅽🅴🆆🆂📰*
*🗞️* HCC in discussions with Demathieu Bard for sale of subsidiary, Steiner
Construction SA
*🗞️* Clara Industries Ltd completes installation of rooftop solar plant
*🗞️* Gokaldas Exports expands its global presence through a US$ 55 million
acquisition
*🗞️* Panorama Studios International Ltd to release 'Jawan' in Mysore circuit
*🗞️* Shoppers Stop Limited to open new stores
*🗞️* Black Rose Industries Ltd commissions rooftop solar power system
*🗞️* SJVN Green Energy Ltd receives LOA for 3 solar power projects with total
capacity of 320 MW
*🗞️* Indiabulls Housing Repays ₹ 1,112.5 crores of Bonds
*🗞️* PDS Limited's Annual Report for FY2022-23 awarded Platinum at the LACP
Vision Awards 2022
*🗞️* Indsil Hydro Power and Manganese Ltd restarts operations of Unit 1
*🗞️* LTIMindtree collaborates with CAST AI to help Businesses Optimize Their
Cloud Investments
*🗞️* Captain Pipes Ltd receives highest ever Monthly Export Order of USD 360000
*🗞️* Frontline Corporation Ltd receives extension of distribution agreement with
Bosch Ltd
*🗞️* TCS Positioned as a Leader in Identity and Access Management Services by
Everest Group
*🗞️* Apollo Group's Apollo Connect program bets big on expanding access and
elevating care
*🗞️* Procter & Gamble Hygiene and Health Care Ltd announces Q4 and FY2023 results
*🗞️* CFF Fluid Control Ltd receives order of Rs. 85.54 crores
*🗞️* Responsive Industries Limited secures orders from Indian Railways for the
'Vande Bharat' Project
*🗞️* ATUM Solar division receives EEF Global Sustainability Award in Delhi
*🗞️* Kalyani Rafael Advanced Systems Private Limited secures contract worth INR
2875.1 Million
*🗞️* Schaeffler India acquires fast-growing automotive aftersales B-to-B
e-commerce platform Koovers
*🗞️* Wardwizard Foods & Beverages Ltd records INR 4.26 Cr revenue in Q1FY24
amidst the evolving market landscape
*🗞️* Procter & Gamble Hygiene and Health Care Limited recommends final dividend
of Rs. 105
*🗞️* Aditya Vision Limited opens 125th showroom at Sahibganj
*🗞️* HCC in discussions with Demathieu Bard for sale of subsidiary, Steiner
Construction SA
*🗞️* Clara Industries Ltd completes installation of rooftop solar plant
*🗞️* Gokaldas Exports expands its global presence through a US$ 55 million
acquisition
*🗞️* Panorama Studios International Ltd to release 'Jawan' in Mysore circuit
*🗞️* Shoppers Stop Limited to open new stores
*🗞️* Black Rose Industries Ltd commissions rooftop solar power system
*🗞️* SJVN Green Energy Ltd receives LOA for 3 solar power projects with total
capacity of 320 MW
*🗞️* Indiabulls Housing Repays ₹ 1,112.5 crores of Bonds
*🗞️* PDS Limited's Annual Report for FY2022-23 awarded Platinum at the LACP
Vision Awards 2022
*🗞️* Indsil Hydro Power and Manganese Ltd restarts operations of Unit 1
*🗞️* LTIMindtree collaborates with CAST AI to help Businesses Optimize Their
Cloud Investments
*🗞️* Captain Pipes Ltd receives highest ever Monthly Export Order of USD 360000
*🗞️* Frontline Corporation Ltd receives extension of distribution agreement with
Bosch Ltd
*🗞️* TCS Positioned as a Leader in Identity and Access Management Services by
Everest Group
*🗞️* Apollo Group's Apollo Connect program bets big on expanding access and
elevating care
*🗞️* Procter & Gamble Hygiene and Health Care Ltd announces Q4 and FY2023 results
*🗞️* CFF Fluid Control Ltd receives order of Rs. 85.54 crores
*🗞️* Responsive Industries Limited secures orders from Indian Railways for the
'Vande Bharat' Project
*🗞️* ATUM Solar division receives EEF Global Sustainability Award in Delhi
*🗞️* Kalyani Rafael Advanced Systems Private Limited secures contract worth INR
2875.1 Million
*🗞️* Schaeffler India acquires fast-growing automotive aftersales B-to-B
e-commerce platform Koovers
*🗞️* Wardwizard Foods & Beverages Ltd records INR 4.26 Cr revenue in Q1FY24
amidst the evolving market landscape
*🗞️* Procter & Gamble Hygiene and Health Care Limited recommends final dividend
of Rs. 105
*🗞️* Aditya Vision Limited opens 125th showroom at Sahibganj
👍1
*India Daybook Stocks in News*
*LTI Mindtree:* Company collaborates with SaaS company, ‘CAST AI’ to help businesses optimize their cloud investments (Positive)
*Indiabulls Real Estate:* Company names Atul Chandra as COO: Agencies. (Positive)
*Blue Dart:* Company receives UNFCCC certification for its climate neutrality efforts (Positive)
*NBCC:* Company receives Letter of Acceptance for work order of Rs 66.3 crore (Positive)
*Captain Pipes:* Company has received its highest ever monthly export order amounting Rs 3.0 Crore. (Positive)
*Schaeffler India:* Company to acquire KRSV Innovative Auto Solutions for Rs 142.4 crore. (Positive)
*Zomato:* Internet Fund III PTE sold 12.34 crore shares of company while Axis MF, ICICI Pru MS Asia were buyers in a deal. (Positive)
*Gokaldas Export:* Enters Into Agreement To Acquire Apparel Manufacturer Atraco Group For $55 Million. (Positive)
*SJVN:* Arm SJVN Green Energy Limited Gets Letter Of Awards From Assam Power Development Corporation Limited (Positive)
*HCL Tech:* Signs Exclusive Preferred Professional Services Agreement With Cloud Software Group. (Positive)
*Engineers India:* Company teams up with Australia’s Sunrise CSP group for energy projects. (Positive)
*Suryoday SFB:* Promoter Baskar Babu Ramachandran released a pledge of 9.5 lakh shares on Aug. 24. (Positive)
*Universal Auto:* To Consider Fund Raising Via QIP/ Preferential Issue/ Debt Securities. (Neutral)
*APL Apollo:* Promoter likely to sell stake up to Rs 400 Crores - Network Sources (Neutral)
*HFCL:* The Fund Raising Committee has decided to launch a QIP issue on August 28 (Neutral)
*Adani Group Stocks:* Supreme Court is scheduled to hear the Adani-Hindenburg matter today. (Neutral)
*Rane Madras:* The board has approved divestment by way of stock sale of the entire holdings in Rane Light Metal Casting Inc., USA. (Neutral)
*Divis Laboratories:* Madhusudana Rao Divi retired as a director as well as a full-time director in view of his age and health situation with immediate effect (Neutral)
*V-Mart:* Promoter Lalit Agarwal has executed a gift deed in favour of promoter Madan Gopal Agarwal to transfer 10.4 lakh shares. (Neutral)
*Shriram Properties:* OMEGA TC Sabre sold 18.0 lakh shares of company. (Neutral)
*GI Engineering:* GG Engineering sold 4.5 lakh shares of company. (Neutral)
*Sun Pharma:* Company expect high-single-digit consolidated topline growth for FY24. (Neutral)
*PGEL:* Launches QIP to raise Rs 500 crores floor price at Rs 1641.09/sh.
*Bayer Crop:* Duraiswami Narain Resigns as Vice Chairman & MD & CEO Of Company with effect from October 31, 2023
*RattanIndia Power:* ABARC-AST-002-TRUST sold 4.4 crore shares
*Advanced Enzyme:* Promoter Advanced Vital Enzymes sold 1.3 lakh shares between Aug. 23 and 25.
*LTI Mindtree:* Company collaborates with SaaS company, ‘CAST AI’ to help businesses optimize their cloud investments (Positive)
*Indiabulls Real Estate:* Company names Atul Chandra as COO: Agencies. (Positive)
*Blue Dart:* Company receives UNFCCC certification for its climate neutrality efforts (Positive)
*NBCC:* Company receives Letter of Acceptance for work order of Rs 66.3 crore (Positive)
*Captain Pipes:* Company has received its highest ever monthly export order amounting Rs 3.0 Crore. (Positive)
*Schaeffler India:* Company to acquire KRSV Innovative Auto Solutions for Rs 142.4 crore. (Positive)
*Zomato:* Internet Fund III PTE sold 12.34 crore shares of company while Axis MF, ICICI Pru MS Asia were buyers in a deal. (Positive)
*Gokaldas Export:* Enters Into Agreement To Acquire Apparel Manufacturer Atraco Group For $55 Million. (Positive)
*SJVN:* Arm SJVN Green Energy Limited Gets Letter Of Awards From Assam Power Development Corporation Limited (Positive)
*HCL Tech:* Signs Exclusive Preferred Professional Services Agreement With Cloud Software Group. (Positive)
*Engineers India:* Company teams up with Australia’s Sunrise CSP group for energy projects. (Positive)
*Suryoday SFB:* Promoter Baskar Babu Ramachandran released a pledge of 9.5 lakh shares on Aug. 24. (Positive)
*Universal Auto:* To Consider Fund Raising Via QIP/ Preferential Issue/ Debt Securities. (Neutral)
*APL Apollo:* Promoter likely to sell stake up to Rs 400 Crores - Network Sources (Neutral)
*HFCL:* The Fund Raising Committee has decided to launch a QIP issue on August 28 (Neutral)
*Adani Group Stocks:* Supreme Court is scheduled to hear the Adani-Hindenburg matter today. (Neutral)
*Rane Madras:* The board has approved divestment by way of stock sale of the entire holdings in Rane Light Metal Casting Inc., USA. (Neutral)
*Divis Laboratories:* Madhusudana Rao Divi retired as a director as well as a full-time director in view of his age and health situation with immediate effect (Neutral)
*V-Mart:* Promoter Lalit Agarwal has executed a gift deed in favour of promoter Madan Gopal Agarwal to transfer 10.4 lakh shares. (Neutral)
*Shriram Properties:* OMEGA TC Sabre sold 18.0 lakh shares of company. (Neutral)
*GI Engineering:* GG Engineering sold 4.5 lakh shares of company. (Neutral)
*Sun Pharma:* Company expect high-single-digit consolidated topline growth for FY24. (Neutral)
*PGEL:* Launches QIP to raise Rs 500 crores floor price at Rs 1641.09/sh.
*Bayer Crop:* Duraiswami Narain Resigns as Vice Chairman & MD & CEO Of Company with effect from October 31, 2023
*RattanIndia Power:* ABARC-AST-002-TRUST sold 4.4 crore shares
*Advanced Enzyme:* Promoter Advanced Vital Enzymes sold 1.3 lakh shares between Aug. 23 and 25.
👍1
Today's Corporate Action
29th Aug Ex Date
BIRLACORPN
Final Dividend - Rs. - 2.5000
DATAINFRA
Income Distribution (InvIT)
ELNET
Final Dividend - Rs. - 2.0000
GMM
Final Dividend - Rs. - 1.0000
INDOUS
Bonus issue 1:1
MYSORPETRO
Final Dividend - Rs. - 2.5000
PILANIINVS
Dividend - Rs. - 15.0000
TMB
Final Dividend - Rs. - 5.0000
Today's Key Results/Board Meetings
29-Aug-22
ADVIKLA
A.G.M.
ASHIS
Increase in Authorised Capital;A.G.M.;Preferential Issue of shares
BIGBLOC
A.G.M.
BPCAP
A.G.M.
CASPIAN
Final Dividend;A.G.M.;General
CIANAGRO
A.G.M.
DIDL
A.G.M.
ECOHOTELS
Preferential Issue of shares
FCSSOFT
A.G.M.
GANHOLD
A.G.M.;General
GILLETTE
Final Dividend;Audited Results
GRAVITY
A.G.M.
HMAAGRO
Final Dividend;Audited Results;A.G.M.;General
INTERDIGI
A.G.M.
KILPEST
Amalgamation
KPEL
Employees Stock Option Plan;A.G.M.;General
LANDMARC
A.G.M.
MOLDTEK
A.G.M.;General
MOLDTKPAC
A.G.M.;General
MUFIN
A.G.M.;General
NOUVEAU
General
NUTRICIRCLE
A.G.M.;General
PGFOILQ
A.G.M.
PHARMAID
General
PROFINC
Preferential Issue of shares
RCCEMEN
A.G.M.
REVATHI
Audited Results
RITHWIKFMS
A.G.M.
RKDAGRRTL
A.G.M.
SABOOBR
A.G.M.;General
SBFC
General
SEIL
A.G.M.;General
STANCAP
General
STARLENT
A.G.M.;General
SUCROSA
A.G.M.
SUNCITYSY
General
TIJARIA
General
TREL
Quarterly Results
UNIAUTO
Issue Of Warrants;General;Preferential Issue of shares
UNITECH
Quarterly Results
Stock under F&O ban on NSE
29-Aug-22
1 BHEL
2 ESCORTS
3 GMRINFRA
4 HINDCOPPER
5 IBULHSGFIN
6 INDIACEM
7 MANAPPURAM
8 RBLBANK
9 SUNTV
29th Aug Ex Date
BIRLACORPN
Final Dividend - Rs. - 2.5000
DATAINFRA
Income Distribution (InvIT)
ELNET
Final Dividend - Rs. - 2.0000
GMM
Final Dividend - Rs. - 1.0000
INDOUS
Bonus issue 1:1
MYSORPETRO
Final Dividend - Rs. - 2.5000
PILANIINVS
Dividend - Rs. - 15.0000
TMB
Final Dividend - Rs. - 5.0000
Today's Key Results/Board Meetings
29-Aug-22
ADVIKLA
A.G.M.
ASHIS
Increase in Authorised Capital;A.G.M.;Preferential Issue of shares
BIGBLOC
A.G.M.
BPCAP
A.G.M.
CASPIAN
Final Dividend;A.G.M.;General
CIANAGRO
A.G.M.
DIDL
A.G.M.
ECOHOTELS
Preferential Issue of shares
FCSSOFT
A.G.M.
GANHOLD
A.G.M.;General
GILLETTE
Final Dividend;Audited Results
GRAVITY
A.G.M.
HMAAGRO
Final Dividend;Audited Results;A.G.M.;General
INTERDIGI
A.G.M.
KILPEST
Amalgamation
KPEL
Employees Stock Option Plan;A.G.M.;General
LANDMARC
A.G.M.
MOLDTEK
A.G.M.;General
MOLDTKPAC
A.G.M.;General
MUFIN
A.G.M.;General
NOUVEAU
General
NUTRICIRCLE
A.G.M.;General
PGFOILQ
A.G.M.
PHARMAID
General
PROFINC
Preferential Issue of shares
RCCEMEN
A.G.M.
REVATHI
Audited Results
RITHWIKFMS
A.G.M.
RKDAGRRTL
A.G.M.
SABOOBR
A.G.M.;General
SBFC
General
SEIL
A.G.M.;General
STANCAP
General
STARLENT
A.G.M.;General
SUCROSA
A.G.M.
SUNCITYSY
General
TIJARIA
General
TREL
Quarterly Results
UNIAUTO
Issue Of Warrants;General;Preferential Issue of shares
UNITECH
Quarterly Results
Stock under F&O ban on NSE
29-Aug-22
1 BHEL
2 ESCORTS
3 GMRINFRA
4 HINDCOPPER
5 IBULHSGFIN
6 INDIACEM
7 MANAPPURAM
8 RBLBANK
9 SUNTV
If you've been reading financial news you've probably heard about people talking recently about a little know automaker called VinFast Auto.
It's stock (VFS) has jumped +434% since it IPO-ed 11 days ago.
In 11 short days it is now a bigger automaker by market capitalization (valued of a company measured by the value of its outstanding shares) than Porsche, BYD, Mercades-Benz and BWM 🤯 t.me/AlliesFin
Like Share 🤝
It's stock (VFS) has jumped +434% since it IPO-ed 11 days ago.
In 11 short days it is now a bigger automaker by market capitalization (valued of a company measured by the value of its outstanding shares) than Porsche, BYD, Mercades-Benz and BWM 🤯 t.me/AlliesFin
Like Share 🤝
👍1😁1
*FIIS F & O : RS. CRS. :*
*TOTAL NET BUY : +856* 😊
*INDEX FUT. : +559*
*INDEX OPT. : -1643*
*STOCK FUT. : +2542*
*STOCK OPT. : -601*
*SEC. IN F&O BAN FOR, 30-Aug-23 :*
*1. RBLBK 2. ESCORTS 3. IBULHSGFIN 4. SUNTV 5. GMRINFRA 6. HINDCOPPER 7. MANAPPURAM*
*ADDITION : NIL*
*DELETION : BHEL, INDIACEM*
*INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 29-AUG-2023 :*
*FIIS : BUY +61 (10,515-10,454)* 🙂
*DIIS : BUY +305 (8,132-7,827)* 🙂
*BSE SENSEX : +79 (65,075)🔼*
*NSE NIFTY : +37 (19,343)*🔼
*BSE MIDCAP. : +138 (31,037)*🔼
*BSE SMLCAP. : +249 (36,547)*🔼
*B. CRUDE : $ 83.69* 🔽 😊
*GOLD: $1936=INR 59,100(10gr)* 🔼 😊
*SILVER : RS. 77,500 (kg) (5pm)* 🔼 🙂
*FOREX : RS. $ 82.70 🔽 ☺️*
*7.26% GOI '33 : 7.1880%(100.48)🔼☺️*
*7.18% NEW '33 : 7.1509%(100.20)↔️😳*
*7.18% GOI '37 : 7.2457% (99.42)🔼☺️*
🤩1
*GIFT Nifty +84 pts (19430) from last trade 19346 ,*
Nikkei +151 pts ,
Hangseng +176 pts ,
Now @ 6.52am .
Dow +292.69 pts ,Nsdq +238.63 pts, S&P
+64.32 pts, Bovespa +1282 pts , Ftse +126 pts , Dax +138 pts , Cac +48 pts , Crude @ $81.43 brl (+0.27), Brent @ $85.49 brl (-0.00) , Gold @ 1964.10 (-1.00), Silver @ $24.77 (-0.01), Euro @ $1.0874, JPY @ $145.90, INR @ 82.575
*Today's Corporate Action*
*30th Aug Ex Date*
CMSINFO
Final Dividend - Rs. - 4.7500
IONEXCHANG
Dividend - Rs. - 1.2500
SKMEGGPROD
Final Dividend - Rs. - 0.5000
TANLA
Final Dividend - Rs. - 4.0000
*Today's Key Results/Board Meetings*
*30-Aug-22*
AVROIND
General
CHECKPOINT
A.G.M.
CONTICON
General
FINKURVE
General
GEE
Audited Results;A.G.M.
GRADIENTE
A.G.M.;General
INDIANB
General
JAIPAN
General
KINGSINFR
General
NIBL
A.G.M.;General
ORCHASP
A.G.M.
POLOHOT
General
PVVINFRA
A.G.M.
RAVALSUGAR
Stock Split;General
RLFL
A.G.M.
STML
General
SUPERTEX
General
SURFUNC
A.G.M.
TITANIN
A.G.M.
*Stock under F&O ban on NSE*
*30-Aug-22*
1 ESCORTS
2 GMRINFRA
3 HINDCOPPER
4 IBULHSGFIN
5 MANAPPURAM
6 RBLBANK
7 SUNTV
Nikkei +151 pts ,
Hangseng +176 pts ,
Now @ 6.52am .
Dow +292.69 pts ,Nsdq +238.63 pts, S&P
+64.32 pts, Bovespa +1282 pts , Ftse +126 pts , Dax +138 pts , Cac +48 pts , Crude @ $81.43 brl (+0.27), Brent @ $85.49 brl (-0.00) , Gold @ 1964.10 (-1.00), Silver @ $24.77 (-0.01), Euro @ $1.0874, JPY @ $145.90, INR @ 82.575
*Today's Corporate Action*
*30th Aug Ex Date*
CMSINFO
Final Dividend - Rs. - 4.7500
IONEXCHANG
Dividend - Rs. - 1.2500
SKMEGGPROD
Final Dividend - Rs. - 0.5000
TANLA
Final Dividend - Rs. - 4.0000
*Today's Key Results/Board Meetings*
*30-Aug-22*
AVROIND
General
CHECKPOINT
A.G.M.
CONTICON
General
FINKURVE
General
GEE
Audited Results;A.G.M.
GRADIENTE
A.G.M.;General
INDIANB
General
JAIPAN
General
KINGSINFR
General
NIBL
A.G.M.;General
ORCHASP
A.G.M.
POLOHOT
General
PVVINFRA
A.G.M.
RAVALSUGAR
Stock Split;General
RLFL
A.G.M.
STML
General
SUPERTEX
General
SURFUNC
A.G.M.
TITANIN
A.G.M.
*Stock under F&O ban on NSE*
*30-Aug-22*
1 ESCORTS
2 GMRINFRA
3 HINDCOPPER
4 IBULHSGFIN
5 MANAPPURAM
6 RBLBANK
7 SUNTV
@AlliesFin
US stocks closed higher to recover sharply from August slump. Dow gained 0.85%, S&P added 1.45%, its best day since June 2nd, Nasdaq added 1.74%, its second back to back strong gains as yields fell.
USD index traded sharply lower near 103.48, 10 year also came off sharply near 4.12% after data showed consumer confidence is waning and cboe vix closed lower near 14.45.
Crude futures rallied over 1.3% after weakness in USD index and possibility of supply disruption on Hurricane Idalia hitting US, WTI moved past 81, Brent traded near 85.50.
Indian stocks closed marginally higher in a rangebound session on Tuesday. Sensex added 79 points and Nifty closed 37 points higher led largely by Capital Goods names along with some Banking names offset by weakness in RIL that fell for the fourth day in a row.
Strong global cues and falling US yeilds may support Indian stocks at the open, August series expiry and some volatilty in crude prices may however check the prices at higher levels and markets may continue to see stock specific action. As indicated earlier participants may continue to build positions for a range breakout for September series but may look at newer sectors to lead the rally towards calender end.
Stay tuned for updates
T.me/AlliesFin
US stocks closed higher to recover sharply from August slump. Dow gained 0.85%, S&P added 1.45%, its best day since June 2nd, Nasdaq added 1.74%, its second back to back strong gains as yields fell.
USD index traded sharply lower near 103.48, 10 year also came off sharply near 4.12% after data showed consumer confidence is waning and cboe vix closed lower near 14.45.
Crude futures rallied over 1.3% after weakness in USD index and possibility of supply disruption on Hurricane Idalia hitting US, WTI moved past 81, Brent traded near 85.50.
Indian stocks closed marginally higher in a rangebound session on Tuesday. Sensex added 79 points and Nifty closed 37 points higher led largely by Capital Goods names along with some Banking names offset by weakness in RIL that fell for the fourth day in a row.
Strong global cues and falling US yeilds may support Indian stocks at the open, August series expiry and some volatilty in crude prices may however check the prices at higher levels and markets may continue to see stock specific action. As indicated earlier participants may continue to build positions for a range breakout for September series but may look at newer sectors to lead the rally towards calender end.
Stay tuned for updates
T.me/AlliesFin
*News Headlines from Business News Agencies :*
*Business Standard :*
• Centre cuts LPG cylinders price by Rs 200 for PMUY beneficiaries
• Sunil Mittal's Airtel plans Uganda's biggest IPO to raise $216 million
• Banks to set up portal with real-time information to handle digital frauds
• Hero Motocorp launches Karizma XMR
• Maruti Suzuki plans to double production capacity to 4 mn over 8 years
• Centre plans to announce PM e-Bus Sewa guidelines within a month
• Monsoon break threatens kharif crop yields; may delay rabi sowing
• Disney gambles on free cricket to turn the tables in India streaming war
• Cashfree Payments appoints Chetan Yadav as senior VP-human resources
• FirstCry founder Maheshwari probed for alleged $50 million tax evasion
• Vedanta seeks to identify its dollar bondholders as $2 billion debt looms
• Centre announces up to Rs 50 lakh grant for technical textiles startups
*Economic Times :*
• DGCA temporarily suspends Boeing simulator training facility of Air India for certain lapses
• Credit Saison India raises maiden NCD of Rs 200 crore
• India inflation to stay above 6% target until October at least: economists
• Greenwood Group to invest Rs 500 cr for hotels in Northeast India
• Punj Lloyd fails to attract any bidder in second round of e-auction
• NCLT grants SBI time till Sept 18 to file a rejoinder in PC Jeweller’s insolvency
• Assetmonk acquires 90,000 sq ft commercial space in Tidel Park
• NBCC gets Rs 66 crore order from Indian Medical Association to plan, execute IMA House
• DMRC clocks highest ever passenger journeys on Monday
• Coal transition in India won't lead to job losses if systems designed correctly: ISA DG Ajay Mathur
• Mold-Tek Packaging re-appoints Lakshmana Rao Janumahanti as CMD for 5 years
• KPI Energy receives orders for 9.70 MW capacity for executing solar power project
*Mint :*
• Maruti Suzuki appoints Arnab Roy as CFO as Ajay Seth retires
• Cabinet approves 7.5m new gas connections under Ujjwala scheme.
• Reliance plans to take Campa Cola overseas
• Former COO Dhruv Dhanraj Bahl to step down from BharatPe: Report
• Goldman Sachs to sell part of wealth business to focus on ‘super-rich clients’
• Standard Chartered to Sell Aviation Finance Business for $700 Mln
• Philips to sell more made-in-India products
• Jio AirFiber to target 200 mn homes
• REC board approves sale of Beawar Transmission to Sterlite Grid 27
• ONGC in talks with Gentari for joint venture in energy storage
• India Q1 GDP print may beat RBI MPC forecast
• Govt maps sustainable route to highway building: Road Minister Gadkari
*Business Standard :*
• Centre cuts LPG cylinders price by Rs 200 for PMUY beneficiaries
• Sunil Mittal's Airtel plans Uganda's biggest IPO to raise $216 million
• Banks to set up portal with real-time information to handle digital frauds
• Hero Motocorp launches Karizma XMR
• Maruti Suzuki plans to double production capacity to 4 mn over 8 years
• Centre plans to announce PM e-Bus Sewa guidelines within a month
• Monsoon break threatens kharif crop yields; may delay rabi sowing
• Disney gambles on free cricket to turn the tables in India streaming war
• Cashfree Payments appoints Chetan Yadav as senior VP-human resources
• FirstCry founder Maheshwari probed for alleged $50 million tax evasion
• Vedanta seeks to identify its dollar bondholders as $2 billion debt looms
• Centre announces up to Rs 50 lakh grant for technical textiles startups
*Economic Times :*
• DGCA temporarily suspends Boeing simulator training facility of Air India for certain lapses
• Credit Saison India raises maiden NCD of Rs 200 crore
• India inflation to stay above 6% target until October at least: economists
• Greenwood Group to invest Rs 500 cr for hotels in Northeast India
• Punj Lloyd fails to attract any bidder in second round of e-auction
• NCLT grants SBI time till Sept 18 to file a rejoinder in PC Jeweller’s insolvency
• Assetmonk acquires 90,000 sq ft commercial space in Tidel Park
• NBCC gets Rs 66 crore order from Indian Medical Association to plan, execute IMA House
• DMRC clocks highest ever passenger journeys on Monday
• Coal transition in India won't lead to job losses if systems designed correctly: ISA DG Ajay Mathur
• Mold-Tek Packaging re-appoints Lakshmana Rao Janumahanti as CMD for 5 years
• KPI Energy receives orders for 9.70 MW capacity for executing solar power project
*Mint :*
• Maruti Suzuki appoints Arnab Roy as CFO as Ajay Seth retires
• Cabinet approves 7.5m new gas connections under Ujjwala scheme.
• Reliance plans to take Campa Cola overseas
• Former COO Dhruv Dhanraj Bahl to step down from BharatPe: Report
• Goldman Sachs to sell part of wealth business to focus on ‘super-rich clients’
• Standard Chartered to Sell Aviation Finance Business for $700 Mln
• Philips to sell more made-in-India products
• Jio AirFiber to target 200 mn homes
• REC board approves sale of Beawar Transmission to Sterlite Grid 27
• ONGC in talks with Gentari for joint venture in energy storage
• India Q1 GDP print may beat RBI MPC forecast
• Govt maps sustainable route to highway building: Road Minister Gadkari
India Daybook Stocks in News
*Lupin:* Company launches propranolol long-acting capsules in Canada (Positive)
*Wipro:* Company and Amigos do Bem join forces to bring Wipro Cares to Brazil (Positive)
*MPS Limited:* MPS Interactive Systems Limited acquires Liberate Group (Positive)
*Unichem Labs:* Received ANDA approval from USFDA for Prasugrel Tablets (Positive)
*Trent:* Westside unveils its denim collection with: "Live Your Dance, Live Your Denim" campaign (Positive)
*Cyient DLM:* Honoured with the Supplier Excellence Award from Honeywell Aerospace. (Positive)
*Trigyn:* Company has received work order of Rs 100 crore from Digital India Corporation for providing Technical Manpower for LokOS project. (Positive)
*Jio Fin:* Promoter entity Jamnagar Utilities buys 2.5 cr shares each on NSE & BSE: Media sources. (Positive)
*Anupam Rasayan:* Company is close to acquiring Austria’s ESIM Chemicals: Media sources (Positive)
*SBFC:* NII up 40.6% at Rs 141 crores vs Rs 100.3 Crores, Net profit up 46.9% at Rs 47 crores vs Rs 32 Crores (Positive)
*Maruti:* Company is looking at investing about Rs 45,000 crore to double production capacity to four million units per annum by the end of the decade. (Positive)
*Ami Organics:* Morgan Stanley Asia bought 621,898 shares at Rs 1250/ share (Positive)
*GR Infra:* Two arms executes concession agreement for projects worth Rs 1,457.2 crores with NHAI (Positive)
*Eicher Motors:* Royal Enfield to launch a new Bike Today (Positive)
*Gulf Oil:* Company eyes expansion into EV mobility segment, says CEO and MD Ravi Chawla. (Positive)
*Central Bank Of India:* Bank enters into a strategic co-lending partnership with IKF Finance to offer MSME loans at competitive rates. (Positive)
*Cable stocks:* SEBI approves IPO for TPG Capital-backed RR Kabel. 24. (Positive)
*Jupiter Wagons:* Board meeting on 5th September to consider and approve proposal for raising funds through issuance of equity shares (Positive)
*Zomato:* SVF Growth Fund may sell 10 cr shares (1.17% equity) in Zomato via block deals: Media sources (Neutral)
*IndiGo:* Company to refresh on-board catering from September 1 (Neutral)
*ONGC:* "No plans to raise stake in Russian assets: ONGC Videsh MD (Neutral)
*Meghmani Organics:* CRISIL Ratings are kept under continuous surveillance and review and revised outlook to negative from stable for long term debt instruments. (Neutral)
*Indian Bank:* Board meeting today to consider and approve capital raising plan of the Bank. (Neutral)
*Zee Ent:* SAT To Hear Punit Goenka’s Matter (Neutral)
*Strides Pharma:* Board approves providing corporate guarantee aggregating to Rs 135 Crores on behalf of Stelis Biopharma Limited. (Neutral)
*Oil Marketing PSUs:* Government Writes to cut effective cost of subsidized domestic LPG by Rs 200 per 14.2 Kg Cylinder. (Neutral)
*Suzlon:* Avikiran Solar India downsizes Kutch project to 168 MW. (Neutral)
*Meghmani Organics:* CRISIL Ratings are kept under continuous surveillance and review and revised outlook to negative from stable for long term debt instruments
*Apl Apollo:* Promoter Rahul Gupta sold 15.01 lakh shares at Rs 1621.46/ share
*Capacite Infra:* Goldman Sachs sold 3.75 lakh shares at Rs 203.2/ share
*Lupin:* Company launches propranolol long-acting capsules in Canada (Positive)
*Wipro:* Company and Amigos do Bem join forces to bring Wipro Cares to Brazil (Positive)
*MPS Limited:* MPS Interactive Systems Limited acquires Liberate Group (Positive)
*Unichem Labs:* Received ANDA approval from USFDA for Prasugrel Tablets (Positive)
*Trent:* Westside unveils its denim collection with: "Live Your Dance, Live Your Denim" campaign (Positive)
*Cyient DLM:* Honoured with the Supplier Excellence Award from Honeywell Aerospace. (Positive)
*Trigyn:* Company has received work order of Rs 100 crore from Digital India Corporation for providing Technical Manpower for LokOS project. (Positive)
*Jio Fin:* Promoter entity Jamnagar Utilities buys 2.5 cr shares each on NSE & BSE: Media sources. (Positive)
*Anupam Rasayan:* Company is close to acquiring Austria’s ESIM Chemicals: Media sources (Positive)
*SBFC:* NII up 40.6% at Rs 141 crores vs Rs 100.3 Crores, Net profit up 46.9% at Rs 47 crores vs Rs 32 Crores (Positive)
*Maruti:* Company is looking at investing about Rs 45,000 crore to double production capacity to four million units per annum by the end of the decade. (Positive)
*Ami Organics:* Morgan Stanley Asia bought 621,898 shares at Rs 1250/ share (Positive)
*GR Infra:* Two arms executes concession agreement for projects worth Rs 1,457.2 crores with NHAI (Positive)
*Eicher Motors:* Royal Enfield to launch a new Bike Today (Positive)
*Gulf Oil:* Company eyes expansion into EV mobility segment, says CEO and MD Ravi Chawla. (Positive)
*Central Bank Of India:* Bank enters into a strategic co-lending partnership with IKF Finance to offer MSME loans at competitive rates. (Positive)
*Cable stocks:* SEBI approves IPO for TPG Capital-backed RR Kabel. 24. (Positive)
*Jupiter Wagons:* Board meeting on 5th September to consider and approve proposal for raising funds through issuance of equity shares (Positive)
*Zomato:* SVF Growth Fund may sell 10 cr shares (1.17% equity) in Zomato via block deals: Media sources (Neutral)
*IndiGo:* Company to refresh on-board catering from September 1 (Neutral)
*ONGC:* "No plans to raise stake in Russian assets: ONGC Videsh MD (Neutral)
*Meghmani Organics:* CRISIL Ratings are kept under continuous surveillance and review and revised outlook to negative from stable for long term debt instruments. (Neutral)
*Indian Bank:* Board meeting today to consider and approve capital raising plan of the Bank. (Neutral)
*Zee Ent:* SAT To Hear Punit Goenka’s Matter (Neutral)
*Strides Pharma:* Board approves providing corporate guarantee aggregating to Rs 135 Crores on behalf of Stelis Biopharma Limited. (Neutral)
*Oil Marketing PSUs:* Government Writes to cut effective cost of subsidized domestic LPG by Rs 200 per 14.2 Kg Cylinder. (Neutral)
*Suzlon:* Avikiran Solar India downsizes Kutch project to 168 MW. (Neutral)
*Meghmani Organics:* CRISIL Ratings are kept under continuous surveillance and review and revised outlook to negative from stable for long term debt instruments
*Apl Apollo:* Promoter Rahul Gupta sold 15.01 lakh shares at Rs 1621.46/ share
*Capacite Infra:* Goldman Sachs sold 3.75 lakh shares at Rs 203.2/ share
28.08.2023 : Today's Banking / Financial News at a Glance
🍒 Countries can learn financial inclusion from India and move much faster: SBI chairman Dinesh Kumar Khara : India has leapfrogged over the last decade, and other countries can learn from the financial inclusion model and move much faster, said Dinesh Kumar Khara, SBI Chairman, on Thursday. “If you look at it in our country, I think it's a lesson for all of the globe on how the payment system could be so efficient, cheap and economical,” Khara said in an exclusive interview with ET on the sidelines of B20 Summit organized by CII in New Delhi. Khara noted that if Jan Dhan had been a pure vanilla account, people would not have shown so much interest in the scheme and it is the addition of services which has given it nuance. - economci times
🍒 Central Bank may raise ₹1,500 cr via bonds next week : Central Bank of India is likely to raise up to ₹1,500 crore through the issuance of tier-2 bonds next week.The state-owned bank's bond issue is likely to have a base size of ₹500 crore and a greenshoe option of ₹1,000 crore, with bidding for the sale expected to take place on August 29, sources said. The bonds are likely to be of 10-year maturity. In April-June, Central Bank posted a net profit of ₹418 crore, 78% higher year-on-year. - economic times
🍒 Karur Vysya Bank strengthens branch network : Private sector Karur Vysya Bank strengthening its footprint has inaugurated 10 new branches in the Southern region, the Tamil Nadu-based bank said on Saturday. The bank has inaugurated six new branches in Tamil Nadu, two in Andhra Pradesh and one each in Telangana and Karnataka respectively. With the inauguration of new branches, the total branch network increased to 822, a bank statement said. - economic times
🍒 Govt considers raising retirement age for PSU bank chiefs by 2 years : The government is considering increasing the retirement age of the managing directors (MDs) and chief executive officers (CEOs) of public sector banks by two years, people familiar with the development said. The retirement age of the State Bank of Bank India chairman could also increase to 65 from 63, said one of the persons. The move will favour the current SBI chairman Dinesh Khara, who will assume the age of 63 next year. Khara is yet to get an extension, as his three-year term ends in October.- economic times
🍒 Govt calls meeting of states, bank officials on 'PM Vishwakarma' on Monday : The government has called a meeting of senior officials from states, public sector banks and State Level Bankers Committee (SLBC) on Monday, to discuss the implementation of the Rs 13,000 crore 'PM Vishwakarma' scheme, which seeks to support traditional artisans and craftsman. The scheme, which would be launched on September 17, would be implemented by three ministries -- MSME, Skill Development and Finance. The target is to enroll as many as 3 lakh beneficiaries in the current fiscal, an official said. "The Skill Ministry has called a meeting on August 28, in which principal secretaries of states, managing directors of banks, and SLBC representatives have been invited. - economic times
https://telegram.me/Alliesfin
🍒 FDI equity inflows dip 34% to $10.94 bn in April-June : Foreign direct investment (FDI) into India dipped by 34 per cent to $10.94 billion during April-June period this fiscal year, according to the Department for Promotion of Industry and Internal Trade (DPIIT). FDI inflows stood at $16.59 billion during April-June 2022-23, the data from DPIIT showed. According to the data, FDI dipped from countries including Mauritius, Singapore, the US and the UAE during April-June 2023-24. - economic times
🍒 Countries can learn financial inclusion from India and move much faster: SBI chairman Dinesh Kumar Khara : India has leapfrogged over the last decade, and other countries can learn from the financial inclusion model and move much faster, said Dinesh Kumar Khara, SBI Chairman, on Thursday. “If you look at it in our country, I think it's a lesson for all of the globe on how the payment system could be so efficient, cheap and economical,” Khara said in an exclusive interview with ET on the sidelines of B20 Summit organized by CII in New Delhi. Khara noted that if Jan Dhan had been a pure vanilla account, people would not have shown so much interest in the scheme and it is the addition of services which has given it nuance. - economci times
🍒 Central Bank may raise ₹1,500 cr via bonds next week : Central Bank of India is likely to raise up to ₹1,500 crore through the issuance of tier-2 bonds next week.The state-owned bank's bond issue is likely to have a base size of ₹500 crore and a greenshoe option of ₹1,000 crore, with bidding for the sale expected to take place on August 29, sources said. The bonds are likely to be of 10-year maturity. In April-June, Central Bank posted a net profit of ₹418 crore, 78% higher year-on-year. - economic times
🍒 Karur Vysya Bank strengthens branch network : Private sector Karur Vysya Bank strengthening its footprint has inaugurated 10 new branches in the Southern region, the Tamil Nadu-based bank said on Saturday. The bank has inaugurated six new branches in Tamil Nadu, two in Andhra Pradesh and one each in Telangana and Karnataka respectively. With the inauguration of new branches, the total branch network increased to 822, a bank statement said. - economic times
🍒 Govt considers raising retirement age for PSU bank chiefs by 2 years : The government is considering increasing the retirement age of the managing directors (MDs) and chief executive officers (CEOs) of public sector banks by two years, people familiar with the development said. The retirement age of the State Bank of Bank India chairman could also increase to 65 from 63, said one of the persons. The move will favour the current SBI chairman Dinesh Khara, who will assume the age of 63 next year. Khara is yet to get an extension, as his three-year term ends in October.- economic times
🍒 Govt calls meeting of states, bank officials on 'PM Vishwakarma' on Monday : The government has called a meeting of senior officials from states, public sector banks and State Level Bankers Committee (SLBC) on Monday, to discuss the implementation of the Rs 13,000 crore 'PM Vishwakarma' scheme, which seeks to support traditional artisans and craftsman. The scheme, which would be launched on September 17, would be implemented by three ministries -- MSME, Skill Development and Finance. The target is to enroll as many as 3 lakh beneficiaries in the current fiscal, an official said. "The Skill Ministry has called a meeting on August 28, in which principal secretaries of states, managing directors of banks, and SLBC representatives have been invited. - economic times
https://telegram.me/Alliesfin
🍒 FDI equity inflows dip 34% to $10.94 bn in April-June : Foreign direct investment (FDI) into India dipped by 34 per cent to $10.94 billion during April-June period this fiscal year, according to the Department for Promotion of Industry and Internal Trade (DPIIT). FDI inflows stood at $16.59 billion during April-June 2022-23, the data from DPIIT showed. According to the data, FDI dipped from countries including Mauritius, Singapore, the US and the UAE during April-June 2023-24. - economic times