*INSTL. INVESTORS EQUITY DERIVAT. TRADES AS ON : 22-08-2023 :*

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

*TOTAL NET BUY : +10614* 😃😃

*INDEX FUT. : -48*

*INDEX OPT. : +10721*

*STOCK FUT. : -116*

*STOCK OPT. : +57*

*SEC. IN F&O BAN FOR, 23-Aug-23 :*

*1. BHEL 2. GNFC 3. DELTACORP 4. IBULHSGFIN 5. INDIACEM 6. SAIL 7. METROPOLIS 8. ZEEL 9. PNB 10. HINDCOPPER 11. MANAPPURAM 12.ESCORTS*

*ADDITION : BHEL, ESCORTS*
*DELETION : CHAMBLFERT*

*INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 22-AUG-2023 :*

*FIIS : SELL -495 (8,854-9,349)* ☺️

*DIIS : BUY +534 (6,027-5,493)* 🙂

*BSE SENSEX : +04 (65,220)🔼*

*NSE NIFTY : +03 (19,396)*🔼

*BSE MIDCAP. : +288 (30,816)*🔼

*BSE SMLCAP. : +315 (35,850)*🔼

*B. CRUDE : $ 84.08* 🔽 😊

*GOLD: $1895=INR 58,270(10gr)* 🔼 🙂

*SILVER : RS. 75,100 (kg) (5pm)* 🔼 😃

*FOREX : RS. $ 82.93 🔼 🙂*

*7.26% GOI '33 : 7.2204%(100.2625)↔️😳*

*7.18% NEW '33 : 7.1881%(99.94)🔼☺️*

*7.41% GOI '36 : 7.2933% (100.97)🔽🙂*

*GIFT Nifty -44 pts (19345) from last trade 19389 ,*


Nikkei +33 pts ,
Hangseng -28 pts ,


Dow -174.86 pts ,Nsdq +8.28 pts, S&P -12.22 pts , Bovespa +1726 pts , Ftse +12 pts , Dax +102 pts , Cac +42 pts , Crude @ $80.35 brl (+0.00), Brent @ $84.03 brl (-0.00) , Gold @ 1927.20 (+1.20), Silver @ $23.495 (+0.04), Euro @ $1.0844, JPY @ $145.73, INR @ 83.045




*Today's Corporate Action*
*23rd Aug Ex Date*




BIRET 
Income Distribution RITES  
CGCL
Final Dividend - Rs. - 0.5000
DHRUV
Interim Dividend  
DSSL
Interim Dividend - Rs. - 0.5000
FOCUS
Bonus issue 4:5  
GCSL
Right Issue of Equity Shares 
HBPOR
Interim Dividend - Rs. - 1.0000
INTLCOMBQ
Dividend - Rs. - 3.0000
MANAPPURAM
Interim Dividend - Rs. - 0.8000
PERMAGN
Final Dividend - Rs. - 1.5000



*Today's Board Meetings*
*23-Aug-23*



 ASHAI
General    
KAMAHOLD
Interim Dividend  
MISHTANN
Right Issue of Equity Shares
NOVATEOR
Increase in Authorised Capital;Issue Of Warrants;A.G.M.
PGHL
Audited Results;Final Dividend
PRESSURS
General    
SHANTAI
General    
SHRAJOI
A.G.M.    
SPRAYKING
General;A.G.M.  
UJJIVAN
Interim Dividend  
VALECHAENG
Quarterly Results  
VANICOM
General;A.G.M.  
ZINEMA
General




*Stock under F&O ban on NSE*
*23-Aug-23*




1 BHEL
2 DELTACORP
3 ESCORTS
4 GNFC
5 HINDCOPPER
6 IBULHSGFIN
7 INDIACEM
8 MANAPPURAM
9 METROPOLIS
10 PNB
11 SAIL
12 ZEEL

ISRO WEBSITE
https://www.isro.gov.in/

YOUTUBE LIVE
https://www.youtube.com/live/DLA_64yz8Ss?feature=share

Facebook
https://facebook.com/ISRO

TATA ELXSI ☺️

SLEEPING BEAUTY ✨

IF PRICE MATTERS FOR YOU LIKE CHEAP N EXPENSIVE THEN THIS IS NOT FOR YOU.

AAPKA SAARTH! AXiTDSHAH @STOCKARTHi
LEARN MARKET WITH US...

*INSTL. INVESTORS EQUITY DERIVAT. TRADES AS ON : 23-08-2023 :*

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

*TOTAL NET SELL : -4953* 😭

*INDEX FUT. : +504*

*INDEX OPT. : -6783*

*STOCK FUT. : +1418*

*STOCK OPT. : -92*

*SEC. IN F&O BAN FOR, 24-Aug-23 :*

*1. BHEL 2. GNFC 3. DELTACORP 4. IBULHSGFIN 5. INDIACEM 6. SUNTV 7. METROPOLIS 8. ESCORTS 9. PNB 10. HINDCOPPER 11. MANAPPURAM*

*ADDITION : SUNTV*
*DELETION : SAIL, ZEEL*

*INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 23-AUG-2023 :*

*FIIS : BUY +614 (9,419-8,805)* 😊

*DIIS : BUY +125 (7,229-7,104)* 🙂

*BSE SENSEX : +213 (65,433)🔼*

*NSE NIFTY : +48 (19,444)*🔼

*BSE MIDCAP. : +130 (30,946)*🔼

*BSE SMLCAP. : +216 (36,066)*🔼

*B. CRUDE : $ 83.11* 🔽 😊

*GOLD: $1917=INR 58,570(10gr)* 🔼 🙂

*SILVER : RS. 75,600 (kg) (5pm)* 🔼 🙂

*FOREX : RS. $ 82.69 🔼 😊*

*7.26% GOI '33 : 7.1927%(100.45)🔽😊*

*7.18% NEW '33 : 7.1682%(100.08)🔽🙂*

*7.41% GOI '36 : 7.2587% (101.2625)🔽😊*

Congratulations to ISRO team for the historic success of #Chandrayaan3 mission.
T.me/AlliesFin
Also congratulations to the companies behind the mission:

🚀 MTAR Technologies: Made core parts of the Rocket engines and core pumps of Cryogenic engines required for take-off.

🚀 Larsen & Toubro: Made critical booster segments, did system integration and proof pressure testing for the Chandrayaan at its facility in Powai.

🚀Godrej Aerospace: Supplied hardware liquid propulsion engines and satellite thrusters

🚀 Tata Advanced Systems: Core manufacturer of Chandrayan 3’s Lander

🚀 Hindustan Aeronautics: Worked on development of lander and key mechanical support equipments

🚀 Bharat Electronics - Chandryaan3’s payloads

🚀 BHEL - Supplied 100th battery pack to ISRO for Chandrayaan 3

🚀 Mishra Dhatu Nigam (Midhani): Critical materials such as Cobalt and Nickel base alloys and special steel for various components.

🚀 Centum Electronics: Large component supplier - makes 300-500 electronics parts for each mission

🚀 Walchandnagar Industries: Supplied components for all 48 launches by ISRO till now

🚀Taneja Aerospace: Builds important structural assemblies for HAL and ISRO for their booster rockets.

🚀Electrosteel Castings: Supplied DI Pipes to the Satish Dhawan Space Centre, Sriharikota

Also congratulations to all of us!
A special day in history.
23 Aug 23

Allies Fin Serve
T.me/AlliesFin

🛰 Total Foreign Satellites Launched by India Till Date: 424
T.me/AlliesFin

✈️ Pre-2014 : 35 (8.25%)

🚀 Post-2014 : 389 (91.75%)


💰 ISRO Budget Today: ₹12,500 cr

💰 ISRO Budget in 2013: ₹3,500 cr

A remarkable journey of progress and innovation!

Telegram @AlliesFin

GIFTNifty: 19,493: +62: +0.32%

Today
Listing of New Securities PIRAMAL PHARMA LIMITED
129604598 equity shares of Rs. 10/- each issued at a premium of Rs.71/- on right basis

Last Heard
# Pyramid Technoplast..last heard: 22. IPO px:166…size:153cr
# Aeroflex Inds..last heard 77/80.. IPO dates: 22/8-24/8..IPO size 351cr IPO px:108
# Balaji Speciality Chem.: IPO size 1000cr…
# Vishnu Prakash R Punglia: gmp 51…IPO size: 309 cr…Px: 99/- Dt..24/8 to 28/8
# Bondada Eng.: last heard 44/- IPO size: 42.72cr, IPO px: 75/-
# Ratnaveer Precision Engineering: IPO size: 166 cr, Dt: 4/9-6/9

Other Mainline IPO’s
Tata Tech, EBIXCash

Provisional Cash Rs. In Crs. (23rd Aug.)
FIIs +614 (9,419 – 8,805)
DIIs +125 (7,229 – 7,104)

Sensex: 65,433: +213: +0.33%
Nifty: 19,444: +48: +0.25%
BankNifty: 44,479: +486: +1.10%
NiftyIT: 30,924: +22: +0.07%
MIDCAP: 38,695: +150: +0.39%
Dow: 34,473: +184: +0.54%
S&P: 4,436: +48: +1.10%
Nas: 13,721: +215: +1.59%
Brazil: 118,135: +1,979: +1.70%
Ftse: 7,321: +50: +0.68%
Dax: 15,728: +23: +0.15%
Cac: 7,247: +6: +0.08%
MOEX: 3,146 (-18) (-0.57%)
WTI Oil: $78.59 (-0.94%)
Brnt: $83.02 (-1.2%)
Natural Gas: 2.5 (-2.46%)
Gold: $1948: +1.15%
Silver: $24.71: +0.95%
Copper: $384: +1.29%
Cotton: $85.82:+1.73%
Copper (LME): $8,363: +88: +1.06%
Alluminum (LME): $2,177: +33: +1.54%
Zinc (LME): $2,332: +15: +0.63%
Tin (LME): $26,112: +410: +1.60%
Eur-$: 1.0863: +0.2%
GBP-$: 1.2718 (-0.1%)
Jpy-$: 144.87 (-0.7%)
Re: 82.6925 (-0.29%)
USD-RUB: 94.1443 (-0.05%)
US10yr: 4.19% (-3.06%)
GIND10YR: 7.194 (-0.33%)
$ Index: 103.352 (-0.2%)
US Vix: 15.98 (-5.83%)
India Vix: 11.72 (-0.26%)
BalticDry: 1,194 (-29) (-2.37%)

ADR/GDR
Cogni: +1.25%
Infy: +1.65%
Wit: +2%
IciciBk: +2.97%
HdfcBk: +1.38%
DrRdy: +1.82%
TatSt (-0.36%)
Axis: +3.32%
SBI: +2.79%
RIGD: +2.15%
INDA: +1.52% (IShares MSCI INDIA ETF)
INDY: +1.36% (IShares MSCI INDIA 50 ETF)
EPI: +1.82% (Wisdom Tree India Earning)
PIN: +1.46% (Invesco India Etf)

Stock futures ticked higher on Wednesday, with investors focusing on key second-quarter results from chipmaker Nvidia to gauge whether the AI excitement is more than just hype.

S&P 500 futures climbed 0.5% while Nasdaq 100 futures gained 0.7%. Futures tied to the Dow Jones Industrial Average was little changed.

U.S. stocks ended sharply higher on Wednesday (the large-cap benchmark S&P 500 booking its best day since June 30) as bond yields fell (after economic reports in both the US and Europe fueled bets that major central banks will pause their interest-rate hikes to prevent a recession) and shares of Nvidia gained ahead of quarterly results (after market) from the company whose chips are widely used for artificial intelligence (AI) computing.

In late hours, a $200 billion exchange-traded fund tracking the Nasdaq 100 (QQQ) gained after a bullish revenue outlook from Nvidia Corp. — the chipmaker at the heart of the artificial-intelligence frenzy that has driven the equity-market higher this year. The company also approved an additional $25 billion in buybacks. Its shares jumped about 9% in extended trading, extending a gain of 3.2% during the regular session.

It forecast third-quarter revenue above Wall Street targets. Other tech companies jumped in after-hours trading as well including Microsoft ), which was last up about 2%.

U.S. Federal Reserve Chair Jerome Powell's comments on Friday at the Jackson Hole conference will be scrutinized for clues on the U.S. central bank's interest rate path

There’s been an ongoing debate on whether Nvidia is even more important to the broad trajectory of markets than Fed Chair Powell’s comments from Jackson Hole on Friday

Data showed U.S. business activity approached the stagnation point in August, with growth at its weakest since February, as demand for new business in the vast service sector contracted, while the downturn in euro zone activity was far deeper than expected.

According to strategists in a Reuters poll, the S&P 500 will eke out only marginal gains between now and year end, after its strong move up already this year. The index was forecast to end the year at 4,496.

Treasury two-year US yields, which are more sensitive to imminent policy moves, sank below 5% as data showed American business activity barely expanded on subdued customer demand. The 10-year German rate also slid as a contraction of private-sector activity in the euro area intensified.

An expert said August’s flash Purchasing Managers’ indexes “strongly suggest that we are at or close to the peak in monetary tightening cycles

The advance in bonds Wednesday was also attributed to technical factors. That’s after a Treasury selloff that recently drove 10-year yields to the highest since late 2007 on speculation that interest rates would remain elevated for longer to curb inflation — even if the Fed decides to pause its hiking campaign in September.

Another relevant economic signal came from the US mortgage industry, with applications for home purchases tumbling to an almost three-decade low. Separate data showed new-home sales hit the highest in over a year — as a surge in mortgage rates kept inventory on the resale market extremely limited. Traders also weighed a US government report saying that job growth in the year through March will probably be revised down by 306,000 — a smaller adjustment than some economists expected.

On Tuesday, the Dow and S&P 500 lost ground, while the Nasdaq eked out a small gain.

What drove markets
Technology shares led the S&P 500 index and the Nasdaq Composite sharply higher on Wednesday as investors awaited Nvidia’s +3.17% earnings report which is due out after the closing bell and will be scrutinized as a bellwether for the artificial-intelligence frenzy.

With Nvidia’s shares up 222.4% this year — against the S&P 500’s 15.5% gain — the chip maker encapsulates the enthusiasm for big technology stocks and AI excitement that together helped drive U.S. equity indices higher for much of 2023. Nvidia shares were up 3.2% on Wednesday, contributing to a 8.8% gain so far this week.

It’s just like a sentiment indicator for how the market responds to what’s likely to be a really strong report. The key here is more on the guidance and the shape of the ongoing surging demand that they’re getting in the data center segment.

Demand for Nvidia’s AI equipment is so high that the company is reportedly running up against limited supplies, so the earnings report is expected to offer investors a glimpse of how trends are balancing out. Nvidia’s CEO Jensen Huang said in March that the company has “ample supply” of AI capacity to meet the delivery demands through 2023, but that was before the latest wave of interest in these chips.

If earnings are again stellar and guidance robust, it will help reignite the tech rally which has stalled in recent weeks. If they don’t, we expect short-term market volatility.

Green warned that hype around Nvidia and other megacap tech stocks, fueled by enthusiasm over AI, may be reaching dangerous levels “as it could lead investors to assume that these stocks are a silver bullet to build long-term wealth — and they are not, at least not on their own.”

Stocks were also boosted after bond yields in Europe and the U.S. fell on data showing that eurozone economic activity contracted more than expected to a 33-month trough.

Earlier this week, a sharp rise in Treasury yields, with the 10-year rate hitting a 16-year high on Monday, had been blamed for a broad, tech-led stock-market pullback.

The yield on the 10-year note was down 13 basis points to 4.197% on Wednesday from 4.327% in the previous session, extending the Europe-inspired decline after U.S. purchasing manager index readings came in weaker than expected.

The S&P flash U.S. PMI reading for August came in at 47, down from a July reading of 49. A reading below 50 indicates a contraction in activity. The services PMI reading fell to a six-month low of 51 from a previous reading of 52.3

Meanwhile, a preliminary benchmark revision by the Labor Department signaled that workers on payrolls would be reduced by 306,000 as of March.

That also provided support for stocks, indicating the labor market hasn’t been running quite as hot as previously thought.

The data could help cool expectations around future interest-rate increases by the Federal Reserve, helping to buoy a market that remains “very sensitive to what the Fed is going to at a high level.

Investors were also looking ahead to Federal Reserve Chair Jerome Powell’s Friday speech at the Kansas City Fed’s annual symposium in Jackson Hole, Wyoming.

U.S. Bank’s Hainlin said he expects Powell to speak in “general terms” on Friday, with investors eager to hear any nuances around what policy makers are watching for clues to the path of inflation or the chair’s assessment of how a strengthening dollar or rising real yields are affecting financial conditions.

In other economic data, U.S. new home sales rose 4.4% to an annual rate of 714,000 in July, from a revised 684,000 in the prior month, the Commerce Department reported Wednesday.

European stock markets closed higher Wednesday, with attention focused on earnings and central bank comments in the U.S.

The euro was lower against the U.S. dollar and bonds rallied as PMIs also came in well below expectations for the euro zone, as services activity fell into decline.

European government bond yields fell Wednesday after a slew of weak economic data saw traders reassess the interest rate trajectory for the European Central Bank and Bank of England.

The 10-year German bund, seen as a euro zone benchmark, was 12 basis points lower at 2.537% at 1:30 p.m. Berlin time. Yields move inversely to prices.

Bert Colijn, senior euro zone economist at ING, said the euro zone purchasing managers’ index figures showed a “picture of deteriorating activity.”

Companies in focus
• United Parcel Services shares finished 1.2% higher after workers at the deliveries and logistics company voted for a new contract.
• AMC Entertainment fell 12.9%, after an 18% drop on Tuesday. A reverse stock split is planned on Wednesday, to be followed by the conversion of the APE preferred shares.
• Peloton Interactive fell 22.6% after the exercise vendor came up short with its revenue outlook for the latest quarter while disclosing that a bike recall has had a greater-than-expected impact on the business.
• Abercrombie & Fitch Co.’s shares soared 23.5% Wednesday, after the teen clothing retailer blew past estimates for the second quarter and raised guidance.
• Foot Locker slid 28.3% after the sporting goods retailer swung to a loss in the second-quarter, lowered its full-year guidance and said it’s suspending its quarterly dividend to conserve cash.
• NIKE ended 2.7% lower, down 10 straight sessions and its longest losing streak on record, according to Dow Jones Market Data.

Key events this week:
# US initial jobless claims, durable goods, Thursday
# Kansas City Fed’s annual economic policy symposium in Jackson Hole begins, Thursday
# Japan Tokyo CPI, Friday
# US University of Michigan consumer sentiment, Friday
# Fed Chair Jerome Powell, ECB President Christine Lagarde to address Jackson Hole conference, Friday

Currencies
# The Bloomberg Dollar Spot Index fell 0.3%
# The euro rose 0.2% to $1.0863
# The British pound fell 0.1% to $1.2718
# The Japanese yen rose 0.7% to 144.87 per dollar

Cryptocurrencies
# Bitcoin rose 2.9% to $26,603.63
# Ether rose 3.4% to $1,685.8

Bonds
# The yield on 10-year Treasuries declined 14 basis points to 4.18%
# Germany’s 10-year yield declined 13 basis points to 2.52%
# Britain’s 10-year yield declined 18 basis points to 4.47%

Commodities
# West Texas Intermediate crude fell 1.3% to $78.62 a barrel
# Gold futures rose 1% to $1,945.90 an ounce

For Updates
t.me/AlliesFin

Securities in Ban For Trade Date 24-AUG-2023:
1 BHEL
2 DELTACORP
3 ESCORTS
4 GNFC
5 HINDCOPPER
6 IBULHSGFIN
7 INDIACEM
8 MANAPPURAM
9 METROPOLIS
10 PNB
11 SUNTV

Pranam, 🙏🏻

Thank you all your Blessings and Best Wishes in our 18 years of Journey of Financial Services and Wealth Creation by Allies Financial Services.

On this Ocassion we would like to Thank
Mr Markets as we have learnt a Lot and Still Learning.

When we started Bharat was approx half a Trillion $ economy and now we are almost $ 4 Trillion economy, the 5th Largest World.

As we talk about Amrit Kal of next 25 years upto 2047, 100 years of Independence Bharat could be the 2nd Largest Economy in the world if we contd same Reforms with little higher speed.

We are in an Golden Era of Wealth Creation via Investing in Markets, Economy and Creating lots of Opportunities around. Make Sure we do less Mistakes during this Journey.

We would like to Thank you all for being Part of our Journey as we have learned at lot from you as a person and many more learnings to be added.

Art of Giving, as a part of Giving back to Society,
from this year we started A new Firm
AAPKA SAARTH! @STOCKARTHi
for Coaching People at ZERO Cost & Professionally too,

Sharing our 18 Years of Learnings & Experiences in Equity Markets & other Investment Opportunities via Online and Offline MasterClass Programs, Mind Programming & many more .

Its only for Serious People who are interested to Learn Earn Grow and Evolve in Life, you can help us to help more people during this journey.

We Thank you once again 🙏🏻

Dhanyavad 🤝

Aapka Saarthi ✌️

Axit D Shah
Allies Financial Services
STOCKARTHi
https://wa.me/919869958999

*INSTL. INVESTORS EQUITY DERIVAT. TRADES AS ON : 24-08-2023 :*

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

*TOTAL NET BUY : +17100* 😃😃

*INDEX FUT. : -439*

*INDEX OPT. : +17992*

*STOCK FUT. : -847*

*STOCK OPT. : +394*

*SEC. IN F&O BAN FOR, 25-Aug-23 :*

*1. BHEL 2. RBLBK 3. DELTACORP 4. IBULHSGFIN 5. INDIACEM 6. GNFX 7. METROPOLIS 8. GMRINFRA 9. PNB 10. HINDCOPPER 11. MANAPPURAM*

*ADDITION : RBLBK, GMRINFRA, GNFX*
*DELETION : GNFC, SUNTV*

*INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 24-AUG-2023 :*

*FIIS : BUY +1,525 (12,993-11,468)* 😃

*DIIS : BUY +5,796 (13,050-7,254)*😃😃
*(Coforge block deal)*

*BSE SENSEX : -181 (65,252)🔽*

*NSE NIFTY : -57 (19,387)*🔽

*BSE MIDCAP. : +33 (30,980)*🔼

*BSE SMLCAP. : +77 (36,143)*🔼

*B. CRUDE : $ 83.03* 🔽 🙂

*GOLD: $1922=INR 58,570(10gr)* ↔️ 😳

*SILVER : RS. 77,200 (kg) (5pm)* 🔼 😃

*FOREX : RS. $ 82.58 🔼 🙂*

*7.26% GOI '33 : 7.1963%(100.4250)🔼☺️*

*7.18% NEW '33 : 7.169%(100.07)↔️😳*

*7.41% GOI '36 : 7.2543% (101.30)🔽🙂*

*SEC. IN F&O BAN FOR, 25-Aug-23 :*

*1. BHEL 2. GNFC 3. DELTACORP 4. IBULHSGFIN 5. INDIACEM 6. SUNTV 7. METROPOLIS 8. GMRINFRA 9. PNB 10. HINDCOPPER 11. MANAPPURAM*

*ADDITION : GMRINFRA*
*DELETION : ESCORTS*

*News Headlines from Business News Agencies :*

*Business Standard :*

• Tata Power, Zoomcar join hands to push electric vehicle adoption in India

• Private bank's CD issuances to stay strong amid liquidity tightening

• Uber appoints Arnab Kumar as director of biz development for India, SA

• RBI raises small value payment transaction limit in offline mode to Rs 500

• India to clock highest growth among top 5 global economies: Finance secy

• Strong economy to take office leasing to 40-45 mn sq ft in 2023: Colliers

• Tax tribunal allows capital gain exemption in case of house purchas

• Rajasthan government bets on investment in agriculture-based industries

• SpiceJet: Division bench orders Ajay Singh to pay Rs 100 cr to Maran

• Go First lenders approve Rs 100 crore of CIRP cost with 98% vote

• Torrent Pharmaceuticals gets EIR from USFDA for Gujarat's Dahej facility

• PMP violators begin compliance; Revolt Intellicorp repays Rs 50 cr to govt


*Economic Times :*

• New Boeing 737 MAX supplier defect to delay aircraft deliveries

• India's generic drug prescription mandate faces execution challenges, says Fitch

• EMS plans to float IPO in Sep to raise up to Rs 320 crore

• India, USA looking at ending poultry dispute at WTO

• MRG Group to invest Rs 250 crore in affordable housing project in Gurugram

• India, Kuwait bilateral trade touches all-time high of USD 12.5 billion, says Indian envoy

• Amazon India adds more fulfilment centres to reduce delivery time

• China halts all Japanese seafood imports over 'selfish' Fukushima release

• Indian Immunologicals targets dengue vaccine launch by January 2026

• Reliance Jio ends its cheapest Rs 119 data plan

• Sebi slaps Rs 20 lakh fine on SIMR for flouting regulatory norms


*Mint :*

• Defence Acquisition Council approves proposals worth ₹7,800 crore

• Suzlon bags 31.5MW wind energy project from Integrum Energy Infrastructure

• Hindustan Zinc to increase production capacity by 50% to 1.5 mtpa

• BRICS: 6 more countries to become members

• DP World, Deendayal Port Authority join hands for Mega Container Terminal

• I-T dept investigates Kalpataru Group over tax evasion: Report

• Nvidia beats expectations with Q2 results, announces $25 bn share buyback

• SECL inks pact with Pelma Collieries for Chhattisgarh opencast mine

• Infosys onboards Nadal as ambassador for brand and Infosys’ digital innovation

• India's net-zero transition offers $12.7 trillion investment opportunity: Report

• Shemaroo Entertainment appoints Manisha Dey as head of devotional and music division

• MNRE to soon seek cabinet nod for green hydrogen consumption mandate

*🌹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)

*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

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.