Stock Market Today: All You Need To Know Going Into Trade On Sept. 5

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Written by
Shubhayan Bhattacharya
Written by

Shubhayan Bhattacharya

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Asian stocks are set to open lower Tuesday, as traders return their focus to China's efforts to halt its economic malaise after markets in the U.S. were shut for the U.S. Labor Day holiday.

Futures in Japan and Australia point to shares easing on Tuesday, while Hong Kong's Hang Seng index — which jumped almost 3% Monday before paring gains — is also set to fall. That comes after European shares failed to provide a strong lead for investors, with the Stoxx 600 gauge closing little-changed in low-volume trading after rising as much as 0.8% earlier.

Meanwhile, expectations of crude supply cuts from the OPEC+ group kept oil futures near nine-month highs.

Brent crude was trading above $89 a barrel and West Texas Intermediate was above $85-mark. The yield on the 10-year U.S. bond was trading at 4.18% and Bitcoin was below 26,000-level.

At 5:23 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index's performance in India was unchanged at 19,622.

India's benchmark stock indices opened higher and held on to steady gains through Monday. Indices advanced for the second day as the Sensex closed above the 65,600 level and the Nifty rose beyond the 19,500 mark.

Metals led, along with advances in PSU banks, I.T., realty, and the media sectors. Consumer durables and fast-moving consumer goods, on the other hand, were under pressure. Nifty IT scaled a fresh 16-month high, whereas Nifty Auto and Nifty Metal hit record highs intraday.

Overseas investors became net sellers of Indian equities on Monday. Foreign portfolio investors offloaded stocks worth Rs 3,367.7 crore, while domestic institutional investors remained net buyers and mopped up equities worth Rs 2,563.5 crore, according to provisional data from the NSE.

The local currency weakened 3 paise to close at Rs 82.75 against the U.S. dollar.

Stocks To Watch: Hero Moto, Cipla, M&M, Yes Bank, RVNL, Tata Power, Oil India In Focus

Hero MotoCorp: The automaker will invest Rs 550 crore in Ather Energy Private's rights issue. The Splendor-maker, which currently holds 33.1% stake in Ather, will see its shareholding rise in the company. The transaction is expected to be completed before the end of September.

Cipla: The drugmaker's South African subsidiary entered into a binding term sheet to acquire a 100% stake in Actor Holdings (Pty), a privately owned pharmaceutical company specialising in consumer health and generic medicine. The consideration has been fixed at ZAR 900 million (approx. $48.6 million, or around Rs 400 crore) in cash for 920 equity shares, representing a 100% equity stake.

Mahindra and Mahindra: Volkswagen is in advanced discussions with the automaker on the use of central MEB components such as e-drive and unified cells.

Yes Bank: The private lender has clarified and denied any role in settlement or negotiation after the sale of the loan portfolio to JC Flowers ARC. The association of the bank with JC Flowers ARC remains limited to the extent of its current shareholding, at 9.9%.

Tata Power: The company's unit, Tata Power Renewable Energy, signed a 26 MW solar power delivery agreement with Neosym Industry, to be set at Jamkhed, Maharashtra, and generate 59 MU of power per annum.

Oil India: The state-run oil company approved a Rs 1,738 crore contribution for North East Gas Distribution Co., a joint venture in which it holds a 49% stake.

BHEL: The company bagged an order for Electro-Mechanical (E&M) works for the country's largest capacity hydropower project, the 2,880 MW Dibang Multipurpose Project in Arunachal Pradesh.

Bombay Dyeing: The company settled a dispute with Axis Bank over disputed land for Rs 149 crore and handed over 11,541 square metres of land to the lender. The settlement will enable independent and exclusive access to the bank's headquarters.

Gland Pharma: Ankit Gupta has been appointed as Vice-President (strategy and investments) with effect from Sept. 4.

Rail Vikas Nigam: The RVNL-MPCC JV emerged as the lowest bidder for all civil engineering works in the Varodara Division of Western Railway. The project cost is Rs 174.27 crore, and the contract is to be executed in two years. The company's share in the JV stands at 74%, while MPCC's share is 26%.

Dabur: The FMCG major's unit, Dabur International, has decided to convert its existing branch, Dabur International Dubai, into a wholly owned subsidiary under the name of Dabur International FZE.

LIC Housing Finance: The company infused Rs 21.61 crore of incremental capital in LIC Mutual Fund Asset Management Company in a rights issue.

Bectors Food and Specialties: The company appointed Arnav Jain as Chief Financial Officer.

Escorts Kubota: The company will raise tractor prices effective Sept. 16. The increase in prices will vary across models and geographies.

Dhanuka Agritech: The company launched an herbicide for sugarcane crops that has effective control of broad and narrow leaf weeds for the domestic market.

Ramco Cements: The company commissioned the balance of the 3 MW capacity of the Waste Heat Recovery System out of the 12 MW capacity in its Kolimigundla plant. With this, total operating capacity has gone up to 43 MW.

IPO Listings

Vishnu Prakash R Punglia: The shares are scheduled to be listed on stock exchanges on Sept. 5. The IPO was subscribed to 87.82 times on the last day of its subscription. The bids were led by institutional investors, who subscribed 171.69 times; non-institutional investors, who subscribed 111.03 times; retail individual investors, who subscribed 32.02 times; and employee-reserved, subscribed 12.97 times.

Bulk Deals

TCNS Clothing: Nalanda India Equity Fund sold 8.9 lakh shares (1.4%) at Rs 370.03 apiece.

Delta Corp: Zerodha Broking sold 25.5 lakh shares (0.95%) at Rs 182.12 apiece, and Societe Generale bought 23.4 lakh shares (0.9%) at Rs 182 apiece.

GHCL: Dharampal Satyapal sold 8 lakh shares (0.8%) at Rs 611.98 apiece.

Insider Trades

Indoco Remedies: Promoter Aditi M. Panandikar bought 12,336 shares between Sept. 1 and 4.

DB Realty: Promoter Shravan Kumar Bali sold 70,000 shares on Aug. 31.

Ramky Infrastructure: Promoter Modugula Vasudeva Reddy sold 14,699 shares between Aug. 30 and Sept. 1.

Safari Industries (India): Promoter Safari Commercial sold 20,000 shares between Aug. 31 and Sept. 1.

Advanced Enzyme Technologies: Promoter Advanced Vital Enzymes sold 1,645 shares on Aug. 31.

AGMs Today

Birla Corporation, GMM Pfaudler, Go Fashion (India), Hatsun Agro Product, Indian Energy Exchange, Neogen Chemicals, Network18 Media & Investments, Pilani Investment and Industries, Subros, Tamilnad Mercantile Bank, TV18 Broadcast, and Wardwizard Innovations & Mobility.

Who's Meeting Whom

Sheela Foam: To meet investors and analysts on Sept. 7-8.
Pricol: To meet investors and analysts on Sept. 12.

Trading Tweaks

Price Band Revised From 10% To 5%: D. P. Abhushan
Price Band Revised From 20% To 10%: GMR Power and Urban Infra, Jaiprakash Associates
Ex-date Dividend: PTC India Financial Services, India Glycols, Kajaria Ceramics, Ircon International, Bengal & Assam Company
Ex-date AGM: India Glycols, Dhampur Sugar Mills, Kajaria Ceramics, and Ircon International
Record-date Dividend: PTC India Financial Services
Move Into Short-Term ASM Framework: Dredging Corporation of India, GMR Power and Urban Infra, HLV, Pokarna, and Uflex
Move Out Of Short-Term ASM Framework: Kopran, Prakash Industries, Yatharth Hospital

F&O Cues

Nifty September futures ended at 19,614.35, a premium of 102.25 points.
Nifty September futures rose 0.52%, with 753 shares in open interest.
Nifty Bank September futures ended at 44,790, a premium of 188.5 points.
Nifty Bank September futures rose 0.42% with 8,281 shares in open interest.
Securities in the ban period: Balrampur Chini, Bharat Heavy Electricals, Hindustan Copper, Indiabulls Housing Finance, The India Cements