Asian equities decline led by struggles in traction on Tuesday, amid subdued sentiment due to the Federal Reserve’s commitment to a sustained period of restrictive monetary policy.
Japanese acquires. But China tech stocks in Hong Kong slid. US futures fluctuated after Wall Street equities added to a slump that began Friday when Chair Jerome Powell stressed the Fed is willing to let the economy suffer to cool price pressures.
At 8:20 am, the Singapore-traded SGX Nifty--an early barometer of India's benchmark Nifty 50--traded 0.33% higher at 17,437.50 points.
Oil was near the highest since late July amid potential Libyan production outages that could likely global energy crunch.
Stocks To Watch
Adani Enterprises/NDTV: Adani Enterprises said that its arm Vishvapradhan Commercial Pvt. has sought a clarification from the market regulator SEBI on the conversion of NDTV's warrants required for acquisition of stake.
India Grid Trust: The company appointed Harsh Shah as the Chief Executive Officer for a term of five years starting Aug. 30.
Krishna Institute of Medical Sciences: The company t has entered into a definitive agreement to acquire 51% in SPANV Medisearch Lifesciences, Nagpur, that runs a multi-specialty hospital ‘Kingsway Hospitals’, having over 300+ beds. Post-acquisition, the hospital will be renamed ‘KIMS Kingsway Hospitals.’
ICRA: The company has appointed Venkatesh Viswanathan as a Group Chief Financial Officer with effect from Aug. 30.
Zomato: CEO Deepinder Goyal said he has no plan of moving away from day-to-day operations at the company and renaming of Zomato to 'Eternal' isn't in the pipeline yet.
Pledge Share Details
Ajanta Pharma: Promoter Ravi Agrawal, Trustee Ravi Agrawal Trust created a pledge of 3.4 lakh shares on August 26.
Insider Trades
VST Tillers Tractors: Promoter & Director VK Surendra and Promoter Group VST Motors bought 32,500 shares each on August 25.
Tarc: Promoter & Director Amar Sarin bought 7.5 lakh shares between August 24 and August 26.
Nuvoco Vistas Corporation: Promoter Niyogi Enterprise bought 45,000 shares between August 25 and August 26.
Sapphire Foods India: Promoter Group Ironman Investments bought 4,301 shares between August 26 and August 29.
Bulk Deals
BLS International Services: Nomura Singapore bought 11 lakh shares (0.54%) at Rs 230 apiece.
Thyrocare Technologies: Fundsmith Emerging Equities Trust sold 2.68 lakh shares (0.51%) at Rs 614.79 apiece and sold 3.2 lakh shares (0.60%) at Rs 615.14 apiece.
Cressanda Solutions: Yuvika Tradewing LLP sold 23.53 lakh shares (0.59%) at Rs 33.32 apiece.
Who’s Meeting Whom
Torrent Power: To meet analysts and investors on August 30
Tata Consumer Products: To meet analysts and investors on August 30 and September 1.
Shoppers Stop: To meet analysts and investors on August 30.
Shankara Building Products: To meet analysts and investors on August 30.
NLC India: To meet analysts and investors on September 6.
Patanjali Foods: To meet analysts and investors on August 30.
Nuvoco Vistas Corporation: To meet analysts and investors on August 30.
AGMs today
AGS Transact Technologies
Adani Wilmar
Bharat Electronics
CCL Products (India)
Coal India
Easy Trip Planners
Finolex Industries
Gland Pharma
Hindsutan Petroleum Corporation
Hindware Home Innovation
ICICI Bank
Jubilant FoodWorks
Trading Tweaks
Ex-Date Annual General Meeting: Indian Card Clothing Company
Ex-Date Dividend: Genus Power Infrastructures, Heidelbergcement India
Ex-Date Spin Off: Piramal Enterprises
Ex-Date Final Dividend: Bengal & Assam Company, Vedant Fashions
Record-Date Buy Back: SIS
Record-Date Interim Dividend: Kama Holdings
Move Into Short-Term ASM Framework: Surya Roshni, Anik Industries, Shivalik Bimetal Controls
Move Out Of Short-Term ASM Framework: Repco Home Finance
Money Market Update
The rupee ended at Rs 79.96 against the U.S. Dollar on Monday as compared to Friday's closing of Rs 79.87
F&O Cues
Nifty September futures ended at 17,384, a premium of 71.1 points.
Nifty September futures added 4.64% and 9,824 shares in Open Interest.
Nifty Bank September futures ended at 38,486, a premium of 209.3 Points.
Nifty Bank September futures rose 3.48%, 2,825 shares in Open Interest.
Research Reports
Coal India - The Black Diamond, Once Shunned, Now Sought After: Motilal Oswal
Praj Industries - A Perfect Blend Of Bioenergy Businesses: Prabhudas Lilladher
How Will A U.S. Recession Impact India? Nirmal Bang's Thematic View
IndusInd Bank - Credit Risk Builds Up Further, Margin Under Strain: Systematix
GR Infra - Diversification Strategy, Asset Monetisation To Drive Growth: Axis Securities
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