Motherson Sumi Wiring has 1 million shares change hands in a large trade.
Details of buyers, sellers are not known immediately.
Source: Bloomberg
Finolex Industries has 2.12 million shares change hands in a large trade.
Details of buyers, sellers are not known immediately.
Source: Bloomberg
All five analysts tracking the company maintain 'buy'. The return potential of the stock is 25.9%.
Source: Bloomberg, Exchange Filing
Shares of Eicher Motor fell over 5%, after company announced sales volume of the Company for the month of September.
The falls come despite 17% MoM and 145% YoY rise in Eicher Motors Ltd.'s total motorcycle sales in September to 82,097 units. The additional sales from newly launched model Hunter 350 aided the growth in volumes.
Trading volume is 2.5 times the 30-day average.
Of the 48 analysts tracking the company, 35 maintain 'buy', nine suggest 'hold' and four recommend 'sell'. The return potential of the stock is 2.2%.
Source: Bloomberg, Exchange Filing
Shares of Adani Total Gas declined 8.7%, the most in over three months. Total traded volume stood at 0.7 times the 30 day average.
The stock underperformed the broader gauge S&P BSE Sensex, which lost 1%. Meanwhile, The S&P BSE Oil and Gas index fell 1.18%.
Source: Bloomberg, BSE
Shares of Aster DM Healthcare Ltd falls over 3%, after acquisition of 60% stake in Skin III Ltd.
Medcare, the premium healthcare provider under the Aster DM Healthcare group, announced its expansion into the premium wellness and beauty care segment with the acquisition of 60% share in Skin 111 Clinics.
This acquisition will accelerate Medcare’s plans to emerge as an international hub for health, beauty, and wellness adding to its existing network of 4 hospitals and over 20 medical centres in the UAE. With this agreement, Skin111 Clinic’s unique offerings will be incorporated into Medcare service portfolio giving it an edge in the aesthetics and wellness segments, a key driver of the UAE’s growing medical tourism sector, the company said in an exchange filing.
Of the 10 analysts tracking the company, 9 maintain 'buy', one suggests 'hold' and zero recommend 'sell'. The return potential of the stock is 2.7%.
Motilal Oswal Asset Management appoints Prateek Agrawal as its Executive Director. Prateek Agrawal will lead business & investment strategy at Motilal Oswal Asset Management.
Prateek Agrawal has experience of 28 years in fund management and equity research.
Prateek Agrawal previously served as Business Head and Chief Investment Officer at ASK Investment Managers.
Prior to the stint with ASK Investment, Prateek Agrawal worked with BoI AXA Mutual Fund and BNP Paribas Mutual Fund as Head of Equity and Head of Research at SBI Capital Markets.
Source: Motilal Oswal Asset Management Press Release
The broader indices outperformed their larger peers with MidCap gauge losing 0.1% and SmallCap index gaining over 0.2%. Fifteen of the 19 sectoral measures compiled by BSE declined.
The market breadth is skewed in the favor of bulls. About 1,724 stocks rose, 1,642 fell and 191 remained unchanged.
Chancellor Kwasi Kwarteng said the plan to scrap the tax had become a "distraction”.
The U.K. has taken a U-turn from its decision 10 days ago to scrap the 45% tax rate for the UK’s highest earners
Kwarteng said the tax “will benefit the whole economy and the whole country."
Source: Bloomberg
About 1.3 million shares of ICICI Bank change hands in a large trade.
Details of buyers, sellers are not known immediately.
Source: Bloomberg
BREAKING
Prosus, the owner of PayU, said closing of the transaction between it and India’s BillDesk was subject to the fulfilment of various conditions.
Certain conditions precedent were not fulfilled by the Sept. 30 long stop date and hence the agreement has terminated automatically.
Prosus said it remains committed to the Indian market and growing its existing businesses within the region.
The $4.7-billion deal was officially announced in August 2021 and also received CCI approval on Oct. 5.
Source: Company Statement
NHPC has 1.07 million shares change hands in a large trade. Details of buyers, sellers are not known immediately.
Source: Bloomberg
Manufacturing PMI eases to 55.1 in September from 56.2 in August.
Source: S&P Global
Noida-based lighting company Ikio Lighting has filed its draft red herring prospectus with the SEBI for an IPO.
The company will issues fresh shares worth Rs 350 crore and sell up to 75 lakh shares in the IPO.
Source: Draft red herring prospectus
Suzlon Energy Tanks Over 14% After Founder Tulsi Tanti's Death
The broader indices outperformed their larger peers with both the S&P BSE MidCap and SmallCap little changed. Eleven of the 19 sectoral indices compiled by BSE Ltd. declined Bankex and Consumer Durables losing 0.6%. On the flipslide, Energy and Oil & Gas indices gained over 1%.
The market breadth is skewed in the favour of bulls. About 1,524 stocks rose, 980 fell and 153 remained unchanged.
U.S. Dollar Index at 112.21
U.S. 10-year bond yield at 3.79% on Friday
Brent crude up 2.7% to $87.45 per barrel
Nymex crude at $81.59 per barrel
SGX Nifty down 0.75% to 16,960.5 as of 6:20 a.m.
Bitcoin down 0.7% to $19,097.5
Yield on the 10-year bond rose 2bps to 7.42% at the open
Source: Bloomberg
c
Welspun Corp entered into a MoU with Laxmi Organic Industries on September 30 for sale of land, civil structures, excluding plant and machinery, situated at Dahej unit of the company in Gujarat.
The unit comprises of insignificant portion of the operations of the company.
The company said that the transaction would not have any material and adverse effect on operations.
The company will receive Rs 130 crore from the sale.
The turnover of Dahej unit is Rs 136 crore, accounting for 2.09% of consolidated revenue as of March 31, 2022.
The net worth of the unit is Rs 113 crore, comprising 0.25% of the consolidated net worth of Welspun Corp as of March 31, 2022.
Source: Exchange filing
Zydus Lifesciences receives final approval from U.S. FDA and 180-day shared exclusivity for Mirabegron Extended Release tablets, USP 25 mg and 50 mg.
Zydus Lifesciences was one of the first ANDA applicants to submit a substantially complete ANDA, and is therefore eligible for 180 days of shared generic drug exclusivity for Mirabegron Extended Release Tablets.
The drug is indicated for treatment of overactive bladder with symptoms of urge urinary incontinence, urgency and urinary frequents. The drug will be made at the company's Ahmedabad facility.
The drug had an annual sales of $2.42 billion in the U.S. in the 12-months ended August, according to IQVIA.
Source: Exchange filing
Sequential loan growth of Federal Bank remained robust in Q2 while deposits traction stayed healthy QoQ, according to Motilal Oswal.
The lender posted strong growth in advances (gross advances rose 19.4% YoY/6.2% YoY) in Q2, aided by growth at system level. Federal Bank's traction in deposits was a major positive as it comes amid stiff competition among lenders to gain incremental deposits. The brokerage firm also believed that CASA trends were stable coupled with improving loan growth and CD ratio likely to aid margins.
Source: Motilal Oswal Note, Exchange filing
Shares of energy-related companies may be active as oil rose after several delegates said that OPEC+ was considering cutting output by over 1 million barrels per day in its meeting scheduled this week. The move is aimed at curbing a slide in oil prices.
In focus: Reliance Industries, HPCL, BPCL, Indian Oil, ONGC, Oil India
Source: Bloomberg
Suzlon Energy: Chairman and founder Tulsi Tanti dies at 64 after a cardiac arrest.
ONGC/OIL/Reliance Industries: Natural gas prices hiked by 40% to record levels, with PPAC increasing gas prices for old fields of ONGC and OIL to $8.57/MMBtu from $6.1, and that for challenging fields of Reliance-bp to $12.46 from $9.92.
HDFC: The mortgage lender increased its benchmark home loan rate by 50 basis point, hours after a similar hike in the policy rate by the Reserve Bank of India.
Adani Ports and Special Economic Zones: The company has incorporated a wholly owned subsidiary, Adani Aviation Fuels, to commence business in the aviation fuel industry.
Barbeque-Nation Hospitality: The company will now complete the acquisition of shares of its step-down subsidiary Barbeque Nation Restaurant LLC by December 31, 2022, due to some unanticipated delay in processing the transaction.
Muthoot Capital Services: The company has completed the securitisation transaction of Rs 121.56 crore, its fourth during this fiscal. The entire pool is from the non - priority sector.
Steel Strips Wheels: Shareholders of the company approved 5-for-1 stock split at the AGM on Sept. 30.
CCL Products (India): The company’s manufacturing facility for agglomerated instant coffee in Kuvvakolli village in Tirupati district of Andhra Pradesh, with a capacity of 5,500 metric tonnes and packaging capacity of 10,000 metric tonnes has commenced commercial operations.
Brigade Enterprises: Mysore Projects, a wholly owned subsidiary of the company, has ceased to be designated partner of Prestige OMR Ventures LLP. Mysore Projects’ profit sharing ratio in the LLP prior to cessation was at 30%.
Punjab National Bank: The lender hiked Repo Linked Lending Rate 50 basis points to 8.40% from 7.90% after a similar increase by RBI. Base rate and MCLR across tenors have been hiked by 5 basis points.
Great Eastern Shipping: The company has delivered its 2006 built Aframax Crude Carrier “Jag Lyall” to the buyers. The vessel was contracted for sale in July 2022.
Life Insurance Corporation of India: The insurer has diluted its shareholding in Tamil Nadu Newsprint & Papers from 41.24 lakh shares to 27.06 lakh shares, decreasing it from 5.958% to 3.910%.
Coal India: September production climbs 12.3% YoY to 45.7 million tonnes. September sales rise 1.1% YoY to 48.9 million tonnes.
Delta Corp: Delta Corp, Coffee Holding Merger sees EV of $655 million
Gokaldas Exports: Clear Wealth Consultancy Services LLP sold 1.5 million shares of Gokaldas Exports to ADIA at Rs 349.75 per share.
Graphite India: To stop German electrode production, as energy cost is unviable.
Hero MotoCorp: September vehicle sales at 5,19,980 Vs. 5,30,946 a year ago
Maruti Suzuki: September sales 1,76,306 units Vs. 86,380 YoY.
NMDC: September sales grow 6.6% YoY to 2.91 million tonnes, production 1.5% YoY to 2.73 tonnes
NTPC: April-September FY2023 generation increase 15.1% YoY to 203.5 BU.
Srei Infrastructure: Says AM Mining added in final resolution applicants list.
Tata Motors: September local sales rise 44% YoY to 80,633 units.
TVS Motor: September vehicle sales rise 9% YoY to 3,79,011 units.
Veranda Learning: To consider fund raising plan on October 5.
Zydus Lifesciences: Gets U.S. FDA nod to market Sildenafil for oral suspension
CSB Bank: Total deposits rose 10.13% YoY for the quarter-ended September. CASA rose 15.86% YoY while term deposits jumped 7.37% YoY to Rs 13,793.80 crore. Advances against gold and gold jewellery rose 47.53% YoY to Rs 8,027.72 crore while gross advance gained 23.61% YoY.
Federal Bank: CASA deposits aggregated to Rs 68,873 crore, up 10.7% YoY. CASA ratio reached 36.41% in Q2 compareed to 36.16% in Q2. Gross advanced grew 19.4% YoY while customer deposits jumped 8.5% to Rs 1,83,106 crore.
Karur Vysya Bank: Total deposits jumped to Rs 73,614 crore in Q2 compared to Rs 65,410 crore YoY. Advanced jumped to Rs 62,416 crore Vs. Rs 53,850 crore while CASA rose to Rs 25,913 crore Vs. Rs 23,159 crore YoY.
Promoters and Promoter group intend to subscribe to the full extent of their rights entitlement.
Company will follow the schedule for proposed rights issue announced earlier of Sept. 28.
Company had earlier fixed October 4 as the record date for the purpose of determining the shareholders eligible to receive rights entitlements in the issue.
Source: Exchange filing
Stocks in Asia struggled to make headway and U.S. equity futures fell as negative sentiment persisted in markets amid fear that global central banks will keep hiking rates until inflation is under control.
Equities dropped in Japan and Australia. Trading in Asia may be muted by a holiday in Sydney and South Korea on Monday and the week-long closure of Chinese markets for Golden Week.
In the U.S., risk assets have tumbled after the Federal Reserve delivered a third jumbo hike last month and officials repeatedly warned of more pain to come.
India's stock benchmarks advanced on Friday post RBI's expected 50 bps hike. The indices gained the most in a month, despite extending losses over the week. At 6:30 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- fell 0.82% to 16,947.5.
Geopolitical tensions also continued to simmer as Vladimir Putin vowed his annexation of four occupied regions in Ukraine is irreversible and President Joe Biden declared that a massive leak from the Nord Stream gas pipeline system in the Baltic Sea was an intentional act.
Investors are now awaiting jobs data next week for further clues about the Fed’s rate-hike trajectory. Upcoming inflation and GDP readings will also provide details on whether price pressures are easing meaningfully.