Today's Headlines


*Economic Times*

📝 Banks turn to bulk deposits to meet credit demand on tepid retail FDs

📝 Reliance Capital lenders' counsel asks Hindujas to roll out IBC plan

📝 Promoter sells 5.2% stake in Aavas Financiers via open market for Rs 570 crore

📝 Big Basket aims to turn profitable in 8 months; eyeing IPO in 2025

📝 Matrix Gas & Renewables raises Rs 350 cr in pre-IPO round

📝 States borrowing cost falls to 32-week low of 7.40 percent

📝 Services sector PMI eases in Feb to 60.6 from 61.8 in Jan

📝 Alok Ind raises Rs 7,000 cr from RIL, two banks for expansion & repayment of high cost debt

📝 Cybersecurity startup Axonius raises $200 million from returning investors

📝 GenAI startup Ema secures $25 million in funding led by Accel, Prosus

📝 Exly raises $6.2 million in latest funding round led by Chiratae Ventures

📝 HCL Group invests Rs 166 crore in edtech firm Education Initiatives

*Business Standard*

📝 Bloomberg to add Indian bonds to emerging market indices in January 2025

📝 RBI bars JM Financial from financing against debentures and shares

📝 Paytm will overcome regulatory setbacks, says Vijay Shekhar Sharma

📝 Adani Power receives creditors' approval for Lanco Amarkantak Power buy

📝 On road to IPO, Udaan saw sales of over 2.25 billion products in 2023

📝 Byju's investors file caveats in SC expecting challenge to NCLT's order

📝 GE Healthcare plans to launch 40 new products across the spectrum

📝 CIEL Group acquires strategic stake in Courseplay, plans IPO in FY25

📝 More than 2,500 fraud connections being cut daily, say DoT officials

📝 Banking system liquidity goes into surplus mode after three months

📝 Govt notifies FDI norms for space; move may bring in $44 bn by 2033

📝 MCA starts comprehensive review of auditing standards regulations

📝 BSE may buy out S&P Dow Jones Indices' entire 50% stake in joint venture

*Financial Express*

📝 TCS, Infosys face election uncertainty in UK, US: CLSA

📝 mPokket raises Rs 500 crore debt from BPEA Credit

📝 Wipro partners with General Motors, Magna to develop automotive software marketplace, SDVerse

📝 BHEL receives Rs 9500 crore order from NTPC for Singrauli Super Thermal Power Project expansion

📝 Securitisation of loans originated by small finance banks to cross Rs 10,000 cr in FY2024, says ICRA

📝 Tata Power Solar Systems, Union Bank renew partnership to offer financing solutions

📝 FCI may raise Rs 15,000-cr short-term loan this fiscal

📝 30 banks join RBI UDGAM portal for unclaimed deposits

*Mint*

📝 Sibanye Reports $2 Billion Loss After US Mine Impairment

📝 Gopal Snacks IPO: Rajkot-based company raises ₹194 crore from anchor investors

📝 Indians buy gold bonds worth a record ₹8,000 cr in February

📝 Sri Lanka's debt restructuring plan could be completed by June: Officials

📝 Greenko acquires GI Hydro's Sikkim project for enterprise value of ₹1,000 cr

📝 PM Modi unveils development projects worth ₹19,600 cr in Odisha's Chandikhole

📝 Swiggy partners IRCTC to provide food delivery service on Indian Railways

📝 Govt likely to consider tax cuts on flex-fuel vehicles

🇮🇳India Daybook Stocks in News

@AlliesFin

*NHPC:* Company starts work on 1,200 MW Jalaun Ultra Renewable Energy Power Park in Uttar Pradesh (Positive)

*Indiabulls Housing Finance:* Moody's upgrades long-term rating to B2 from B3; Outlook remains stable (Positive)

*JKumar Infra:* JV gets order from #BMC for construction project worth Rs 1,330 crore. (Positive)

*Jubilant Ingrevia:* Company commissions multipurpose agro active & intermediate plant via wholly-owned subsidiary in Gujarat (Positive)

*Westlife Food:* FSSAI verifies McDonald's India uses 100% real cheese. (Positive)

*Wipro:* Company acquires 27% stake in SD Verse LLC for $5.85 m. (Positive)

*Allied Digital:* Company bags order worth ₹190 crore for MIDC Taloja Smart Industrial City Project. (Positive)

*Power Mech:* Company bags order worth ₹658.57 crore from Madhya Pradesh Government & Gujarat Mineral Development Corporation. (Positive)

*Man Industries:* Company received API Certification for manufacturing electric resistance welded pipes. (Positive)

*Coal India:* Company’s unit South Eastern Coalfield's Gevra Mine set to become largest coal mine in Asia. (Positive)

*Sonata Software:* Company to open delivery center in Poland to address growing demands from global clients. (Positive)

*Bhagiradha Chemicals:* Company to split each share into 10 shares (Positive)

*Havells:* Company plans to add kitchen appliances to portfolio. (Positive)

*AB Fashion:* Caladium Investment exercises right to convert all 6.6 crore warrants into equity shares. (Positive)

*IRCTC:* Company signs MoU with Swiggy to provide pre-ordered meals to passengers via IRCTC e-Catering Services (Positive)

*JSW Energy:* Subsidiary signs battery energy storage purchase agreement (BESPA) for the first project of 250 MW / 500 MWh battery energy storage system (Positive)

*Indiabulls Real Estate:* Company gets MIDC’s vacation order for a plot in Nashik SEZ (Positive)

*Alok Ind;* Company secures Rs 7,000 Cr Funding From Reliance Industries, Axis Bank, And State Bank Of India (Positive)

*Coal India:* Gets environmental clearance to expand production capacity in Gevra Mine (Positive)

*Aavas Fin:* SBI Mutual Fund, Amansa Capital invest Rs 1,186 crore after promoters pare stake. (Positive)

*Torrent Pharma:* USFDA issues Establishment Inspection Report (EIR) for Gujarat's Oral-Oncology Manufacturing facility. (Positive)

*Zomato:* ALIBABA Unit Antfin to sell Rs 2800 cr worth shares in co via block deal. (Neutral)

*Wipro:* Company acquires 27% stake in SD Verse LLC for $5.85 m (Neutral)

*SBI Life Insurance:* Board to consider payment of interim dividend on March 10. (Neutral)

*SAMIL:* Japan's Sumitomo Wiring Systems to sell 4.4% stake at a discount of 2% (Neutral)

*REC:* Board meeting scheduled on March 16 to consider an interim dividend. (Neutral)

*Bharat Forge:* Company to invest Rs 179.9 crore in arm Bharat Forge Global Holding in the form of capital reserve. (Neutral)

*Bank of India:* Invests Rs 60.35 crore in National Asset Reconstruction Company under preferential share issuance. (Neutral)

*ONGC:* Board approves additional investment of Rs 99 crore in unit ONGC Green. (Neutral)

*Tata Technologies:* Company appoints S. Sukanya as Chief Operating Officer (Neutral)

*Mahanagar Gas:* Company cuts CNG price in Mumbai by Rs 2.50/Kg to Rs 73.50. (Neutral)

*Bharti Airtel:* Approves allotment of 5.68 mn shares to FCCB holders at conversion rate of ₹518/sh. (Neutral)

*CG Power:* Company gets ₹190 cr income tax demand notice for FY22

*JM Financial:* RBI: Deficiencies found in company’s loans for NCDs; to conduct special audit

Corporate Actions

Bhagiradha Chemicals has approved Sub-Division/ Split of 1 Equity Share of face value of Rs. 10/- each, into 10 equity shares of face value of Re. 1 /- each, , subject to regulatory/statutory approvals as may be required.

Dividend

06-Mar-24
MARICO: Interim Dividend - Rs. - 6.50
DCMSHRIRAM: Interim Dividend - Rs. - 4.00

07-Mar-24
SANOFI: Interim Dividend - Rs. - 50.00
PANCHSHEEL: Interim Dividend - Rs. - 0.08

14-Mar-24
WEL: Interim Dividend

IPO
R K Swamy: Open: 04-Mar-24; Close: 06-Mar-24
JG Chemicals: Open: 05-Mar-24; Close: 07-Mar-24
Gopal Snacks: Open: 06-Mar-24; Close: 11-Mar-24

Buyback
Shervani Industrial Syndicate: Ex-Date: 07-Mar-24
Garware Technical Fibres: Ex-Date: 26-Mar-24
Zydus Lifesciences: Open: 29-Feb-24; Close: 06-Mar-24
Kaveri Seed Company: Open: 29-Feb-24; Close: 06-Mar-24
Bajaj Auto: Open: 06-Mar-24; Close: 13-Mar-24

Bonus
Gujarat Ambuja Exports: Bonus Issue 1:1; Ex-Date: 07-Mar-24
Paisalo Digital: Bonus Issue 1:1; Ex-Date: 20-Mar-24

Stock Split
Manorama Industries: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 07-Mar-24
OK Play India: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 11-Mar-24
United Van Der Horst: Stock Split From Rs. 10/- to Rs. 5/-; Ex-Date: 26-Mar-24

Right Issue
Affordable Robotic: Open: 26-Feb-24; Close: 07-Mar-24
South Indian Bank: Open: 06-Mar-24; Close: 20-Mar-24

**SEBI RBI's Coordinated Attack Against Lending To Buy Shares May Have Just Begun**

T.ME/ALLiESFiN

India's regulators are taking coordinated action to reduce leverage in the financial system. The Securities and Exchange Board of India and the Reserve Bank of India have stepped in through exchange of information and action.

The approach is simple—pick the big boys of the segment and make an example out of them for the industry to stop uncontrolled borrowing. The concerted effort by SEBI to reduce debt-fuelled share purchases comes in the backdrop of unsecured lending malpractices prevalent in the banking and financial sector.

See how JM Financial has responded: "We have been in this business for five decades", and we know what we are doing.

But 'nobody can touch me' is no longer the case. The regulators will touch you and size you up if you show the legal card. The spirit of the regulation matters, not the letter. That's the clear message.

Since October, the market regulator has been concerned about the leverage it has seen in the stock market—be it via flows to small- and mid-caps stocks directly or through mutual funds; IPO financing; IPO over-subscription on the SME listing platform or in the offers by small and medium-sized companies on the main board. Not to mention, an overheated derivatives market with options volumes and turnover the rise.

While the regulators haven’t disclosed publicly how this leverage is being created, they are aware that pools of liquidity from the banking and financial system are getting diverted into the capital market, creating potential systemic risks.

A wider policy approach for the sector will disrupt the normal functioning of the financial markets, bringing the industry up in arms against the regulators and a possible intervention from the North Block. But what the regulators are aware that the Finance Ministry will not intervene on regulatory action for violation of rules. The action will be harsh and hard hitting, sending a message to the industry.

The aim is to stop liquidity. That can be done by reducing leverage, and the only way to get it done is to strike the big boys fueling it, whether via personal loans, lending against gold, IPO financing or other unsecured short-term loans. SEBI and the RBI are working in tandem to ensure markets cool down.

Regulators usually work in their own space and seldom share information, but SEBI and the RBI are on a mission to cool the markets. The last time it happened was during the global financial crisis of 2008-09, when both the regulators worked in tandem to ensure there is enough liquidity in the market. This time around, they are trying to reduce the liquidity.

How do you explain no dearth of liquidity in the IPO financing market despite the RBI keeping a tight hold.

Derivatives have become 30-minute trading products, IPOs have become four-day trading products and easy financing has ensured retail investors are lured into these high-risk products.

Derivatives have become 30-minute trading products, IPOs have become four-day trading products and easy financing has ensured retail investors are lured into these high-risk products.

Expect more such action from the regulators in the next few weeks, bringing other broking-to non-bank lending companies in the eye of the deleveraging storm.

Instl. Investors EQUITY Cash Trades PROV. - 06/03/2024 : Rs. CRS. :

*FIIS : BUY +2,767 (19,849-17,082)*

*DIIS : BUY +2,150 (13,639-11,489)*

INSTL. INVESTORS EQUITY DERIVAT. TRADES AS ON : 06-03-2024 :

FIIS F & O : RS. CRS. :

TOTAL NET SELL : -2109 😥

INDEX FUT. : +1396

INDEX OPT. : -2702

STOCK FUT. : -450

STOCK OPT. : -352


INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 06-MAR-2024 :

FIIS : BUY +2,767 (19,849-17,082) 😃

DIIS : BUY +2,150 (13,639-11,489) 😃

BSE SENSEX : +409 (74,086)🔼

NSE NIFTY : +118 (22,474)🔼

BSE MIDCAP. -258 (39,699)🔽

BSE SMLCAP. : -863 (44,343)🔽

B. CRUDE : $ 83.20 🔼☺️

GOLD: $ 2,148=INR 64,500(10gr)🔼😊

SILVER : RS. 74,500 (kg)(5pm)🔽☺️

FOREX : RS. $ 82.83 🔼 🙂

7.18% GOI '33: 7.0548%(100.8450)↔️😳

7.18% GOI '37: 7.1090% (100.5950)🔼☺️

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Mkt. Updates :

@AlliesFin

*GIFT Nifty +48 pts (22650) from last trade 22602 ,*

Nikkei +74 pts ,
Hangseng -20 pts ,


Dow +75.86 pts ,Nsdq +91.96 pts, S&P
+26.11 pts , Bovespa +792 pts , Ftse +33 pts , Dax +18 pts , Cac +21 pts , Crude @ $79.02 brl (-0.11), Brent @ $82.91 brl (+0.81) , Gold @ 2156.40 (-1.80), Silver $24.41 (-0.08), Euro @ $1.0898, JPY @ $149.23, INR @ 82.815


*US GOVT. 10-YR YIELD : 4.11%*


*Today's Corporate Action, 07 Mar Ex Date :*

DHARNI
E.G.M. 
MANORAMA
Stock  Split From Rs.10/- to Rs.2/-NATHBIOGEN
E.G.M. 
PANCHSHEEL
Interim Dividend - Rs. - 0.0800
SANOFI
Interim Dividend - Rs. - 50.0000
SAWABUSI
Right Issue of Equity Shares 
SHERVANI
Buy Back of Shares 
SHREERAMA
E.G.M. 


*Today's Key Results/Board Meetings, 07-Mar-24 :*

ANSALAPI
Final Dividend;Quarterly Results    
JMJFIN
Preferential Issue of shares;General  
LICHSGFIN
General        
NBL
Increase in Authorised Capital;Bonus issue;Employees Stock Option Plan;Preferential Issue of shares
REMLIFE
General        
VSTL
Quarterly Results;General  


*SEC. IN F&O BAN FOR, 07 MAR, 2024 :*

*1. MANAPPURAM 2 . MGL 3. ZEEL*

*ADDITION : MANAPPURAM, MGL*
*DELETION : NIL*

*News Headlines from Business News Agencies :*

*Business Standard :*

📝 Google, Walmart gain fintech users from India as Paytm faces restrictions

📝 India Inc likely to see an average salary hike of 9.6% in 2024: EY report

📝 Processed pulses to attract 18% GST, says AAR in case involving agri broker

📝 Banks must give customers choice to select credit card network: RBI

📝 Domestic air passenger traffic expected to surpass pre-Covid levels: ICRA

📝 MCA notifies Competition Act provision to levy penalty on global turnover

📝 Wipro GE Healthcare plans to launch 40 new products across the spectrum

📝 Identity security platform IDfy raises $27 mn from Elev8, Tenacity Ventures

📝 NPCI joins hands with IISc to conduct joint research on blockchain, AI

📝 Accenture invests $1 bn in learning platform, to buy edtech firm Udacity

📝 Fairfax India agrees to give IIFL Finance up to $200 mn liquidity support

📝 Banks must give customers choice to select credit card network: RBI

*Economic Times :*

📝 India's GDP growth to exceed govt estimate of 7.6% in FY24, may touch 8%: RBI Governor Das

📝 OPEC expects share of Indian oil imports to rise again

📝 Asia's rapid digitalisation may pose new financial risks: BOJ chief Kazuo Ueda

📝 Ajmera Realty & Infra raises Rs 500 cr from Standard Chartered Bank, ICICI Bank

📝 Solar cell and module manufacturer Premier Energies to enter primary market with Rs 2,000 crore public issue

📝 Semiconductors a bright spot in Dutch startup landscape: report

📝 Ethereum surges past $3,800, hits highest level since January 2022

📝 Indian consulate in Dubai launches new insurance package for blue-collar workers

📝 CoinSwitch CEO optimistic about regulatory shift towards innovation in India's digital ecosystem

📝 Motovolt Mobility bets big on newly launched e-scooters

📝 Noida airport ties up with TFS to set up ' world-class' lounge, food outlets

📝 Jio-bp to set up EV charging infra at properties of House of Hiranandani


*Mint :*

📝 Fly91 gets Air Operator's Certificate, to start flights soon

📝 National Housing Bank to float bonds worth ₹2,000 crore on March 7: Report

📝 Meta plans first data centre in India to meet growing demand for Reels

📝 India's healthcare innovation market may hit $60 bn by FY28: Report

📝 Accenture to acquire Udacity in $1 bn upskilling drive

📝 Kantar predicts subdued growth for FMCG sector through September quarter

📝 American Express blames third-party vendor for data breach, says report

📝 JSW Steel appoints Robert Simon as a CEO of JSWUSA.

📝 Ceat Ltd eyes growth through digital initiatives and capacity expansion

📝 CDPQ is in exclusive negotiations to acquire five operational road projects from Ashoka Concessions Ltd

📝 Identity verification startup IDfy raises $27 mn

📝 Reliance Cap lenders' advisors ask Hindujas to submit resolution plan by Mar-end

🇮🇳India Daybook Stocks in News


*Infosys:* Company and ATP Renew Partnership until 2026, to Drive AI-first Innovations in Professional Tennis (Positive)

*Subex:* Company wins a deal with a telecom operator in Southeast Asia. (Positive)

*SEAMEC:* Company to sell vessel SEAMEC Nidhi to Joyo Shipping for $10.5 million. (Positive)

*KPI Green* Company bags order for 9.40 MW Solar Power Plant under captive power producer segment (Positive)

*Meghmani Crop:* Company has opened its Nano Urea Plant in Sanand (Positive)

*JWL:* Ministry of Railways has placed an offer for manufacture and supply of 2,237 numbers of BOSM Wagons for a contract value of ₹957 crores. (Positive)

*GMDC:* Board approves land Resettlement & Rehabilitation plan for Baitarni-West Coal Mines in Odisha (Positive)

*KeynesTech:* Company signs Technology Provision Agreement with ISO. (Positive)

*HAL:* Company has signed an amendment to the LCA IOC Contract, value has been revised to ₹5,078 Crore from ₹2,701 Crore. (Positive)

*GPT Infra:* Company bags order worth ₹135 crore. (Positive)

*Asian Paints:* Company entered into requisite agreements with Gujarat Chemical Port Ltd. to set up an ethylene storage and handling facility in Dahej. (Positive)

*Vikas Life:* Company gets patent from the Indian Patent Office for multi-layered plastic recycling process. (Positive)

*MOS utility:* Shankar Sharma bought 1,48,800 of fintech stock MOS Utility Ltd. (Positive)

*Dollar Ind:* Fidelity Funds Asian Smaller Companies bought 363,221 shares at Rs. 490.0/Sh (Positive)

*RBL Bank:* Mathew Cyriac Bought 32,50,000 shares at 250.91/Sh. (Positive)

*UPL:* Company signs pact with Masarrah Investment for manufacturing complex in Saudi Arabia. (Positive)

*Prestige Estates:* Company launched luxury residential project in Bengaluru with a revenue potential of ₹800 crore. (Positive)

*IRB Infra:* Company reported 31 percent YoY growth in toll revenue (Positive)

*JSW Energy:* Company says Himachal HC quashes water cess of ₹199 cr for unit. (Neutral)

*Exide:* Company to invest Rs 70 crore in unit Chloride Metals for financing long-term capital requirements. (Neutral)

*Kirloskar Eng:* Company has approved the incorporation of a wholly owned subsidiary (Neutral)

*Ajmera:* Company secures credit facilities of ₹500 cr for the execution of Ajmera Manhattan Project. (Neutral)

*Sudarshan Chem:* Company has approved the sale of its equity shares in Sudarshan Japan Limited and Sudarshan (Shanghai) Trading Company Limited to Sudarshan Europe B.V)

*Maitrimony:* Company’s apps have been restored in Google Play Store today (Neutral)

*Vedanta:* Exploring legal options, including filing review plea against SC order on reopening TN copper plant. (Neutral)

*LIC:* Company increases stake in LIC Mutual Fund to 44.61% from 40.93%. (Neutral)

*M&M:* Mahindra Founder Prudential seeks $215 mn via block trade. (Neutral)

*Adani Enterprises:* Co’s Dubai arm acquires 100% stake in France-based Le Marche at €5,000 (Neutral)

*Tata Motors:* Moody's affirms ratings at Ba3; outlook remains positive. (Neutral)

*Zomato:* Antfin Singapore holdings PTE sold 17 cr shares of Zomato via block deals. (Neutral)
 
*NLC India:* Govt to sell 7% stake in co via offer for sale; floor price of at ₹212/sh (Neutral)

*Samvardhana Motherson:* Promoters sold 4.41% stake for Rs 3,633 crore through an open market transaction. (Neutral)

*Refining stocks:* Singapore GRM drop to $4.5/bbl vs $6.9/bbl, down 53.6% month-on-month. (Neutral)

*IGL:* Company reduces CNG prices in Delhi by Rs 2.5/kg to Rs 74.09/kg.

INSTL. INVESTORS EQUITY DERIVAT. TRADES AS ON : 07-03-2024 :

@AlliesFin

*FIIS F & O : RS. CRS. :*

*TOTAL NET SELL : -17440* 😭

*INDEX FUT. : +821*

*INDEX OPT. : -21735*

*STOCK FUT. : +3622*

*STOCK OPT. : -149*

*SEC. IN F&O BAN FOR, 11 MAR, 2024 :*

*1. MANAPPURAM 2 . MGL 3. ZEEL 4. SAIL 5. TATACHEM*

*ADDITION : SAIL, TATACHEM*
*DELETION : NIL*

*INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 07-MAR-2024 :*

*FIIS : BUY +7,304 (22,998-15,694)* 😃

*DIIS : BUY +2,602 (11,887-9,285)* 😃

*BSE SENSEX : +33 (74,119)🔼*

*NSE NIFTY : +19 (22,493)🔼*

*BSE MIDCAP. : +153 (39,852)*🔼

*BSE SMLCAP. : +310 (44,653)*🔼

*B. CRUDE : $ 82.25* 🔽😊

*GOLD: $ 2,155=INR 64,750(10gr)*🔼🙂

*SILVER : RS. 75,000 (kg)(5pm)*🔼🙂

*FOREX : RS. $ 82.78 🔼 🙂*

*7.18% GOI '33: 7.0312%(101.0050)🔽🙂*

*7.18% GOI '37: 7.0955% (100.71)🔽🙂*

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