CABINET DECISIONS
Extension of PM Garib Kalyan Ann Yojana for 3 months approved.
Rs 10,000 crore for modernisation of three major railway stations – New Delhi, Ahmedabad and CSMT Mumbai approved.
Source: Cabinet briefing
The government has approved a 4% hike in dearness allowance.
This takes the current rate of DA to 38%. It was hiked 3% in January this year.
The impact on the exchequer would amount to Rs 12,852 crores per year.
Source: Cabinet briefing
91-day treasury bill cut-off yield rises to 6.177% as of September 28, compared with 5.88% a week ago.
Treasury bill cut-off yields rose by 22-30 basis points in the week ending September 28.
Source: RBI
The broader indices outperformed their larger peers with MidCap and SmallCap gauges gaining over 0.2%. Ten of the 19 sectoral measures compiled by BSE advanced with Telecom and Auto indices gaining over 1%.
The market breadth is skewed in the favour of bulls. About 1,736 stocks rose, 1,508 fell and 145 remained unchanged.
Samvardhana Motherson has 1.07 million shares change hands in a large trade
ITC has 1 million shares change hands in a large trade.
Zomato has 1.09 million shares change hands in a large trade.
Power Grid has 2.04 million shares change hands in a large trade.
Power Grid has 1.71 million shares change hands in another large trade
Details of buyers, sellers not known immediately
Source: Bloomberg
The broader indices outperformed their larger peers with S&P BSE MidCap and SmallCap falling 0.6%. Barring S&P Healthcare, all the other 18 sectoral gauges compiled by BSE declined, with Commodities, Financial Services, Bankex, Metal measures falling over 1%.
The market breadth is skewed in the favour of bears. About 825 stocks rose, 1650 fell and 88 remained unchanged.
India Unwilling To Bend For Index Inclusion To Bring In Billions
Bears are likely to witness a rough session and start Wednesday's trade on a sour note, in sync with the slump in other Asian indices. Stock markets across the globe are extremely concerned that the Federal Reserve's war against decades-high inflation could push the U.S. economy into a downturn and have a spill-over effect on other economies too. Sentiment at Dalal Street also remains clouded by lingering concerns over corporate India’s earnings which could come under heavy pressure from inflation, an economic downturn, and soaring interest rates. Also, FIIs have been deserting local equities in recent sessions could also dent market sentiment. The street is now anxiously awaiting the RBI September MPC Meet outcome to trickle in on Friday.Prashanth Tapse - Research Analyst, Senior VP (Research), Mehta Equities Ltd
U.S. Dollar Index at 114.22.
U.S. 10-year bond yield at 3.97% on Tuesday.
Brent crude down 0.05% to $86.23 per barrel.
Nymex crude at $78.57 per barrel.
SGX Nifty down 0.7% to 16,922.5 as of 6:20 a.m.
Bitcoin up 0.3% to $19,128.4.
Torrent Pharma: The Ahmedabad-based drugmaker has agreed to fully acquire sunscreen lotions-to-baby-soap maker Curatio Healthcare (I) Pvt. for Rs 2,000 crore as it strengthens its dermatology portfolio.
Bharti Airtel: Promoter Bharti Telecom has acquired 19 crore shares, equivalent to 3.2% stake, of Bharti Airtel from affiliates of Singtel. The promoter now holds 38.62% equity in the telecom firm.
J&K Bank: Care Ratings has assigned ‘CARE A +, Stable’ rating to Tier II bonds (Basel III) of Rs 1,500 crore.
NDTV: SEBI has reportedly filed before the Supreme Court of India civil appeals against NDTV, founder-promoters Prannoy Roy and Radhika Roy and RRPR Holding Ltd. These appeals are against a July 20 SAT order, which found that there was no indirect transfer of control of NDTV by the founder-promoters via loan arrangements in 2009-10.
KPI Green Energy: Received a new repeat order for executing solar power project of 1.40 MW capacity from MS Synthetics under captive power producer business segment.
Mahindra & Mahindra: The company has acquired 21.14 lakh shares, equivalent to 17.41% of the paid-up equity share capital, of Swaraj Engines from Kirloskar Industries to become a majority shareholder.
Adani Enterprises: The company has raised Rs 100 crore via non-convertible debentures on private placement basis.
Axis Bank: The bank has agreed to invest in two tranches Rs 49.90-69.90 crore in Go Digit Life Insurance by way of equity shares. The lender is looking to acquire an equity stake of up to 9.94% in Go Digit.
Mahindra CIE Automotive: M&M has sold 82.42 lakh shares, or 2.17% stake, in Mahindra CIE Automotive in a large trade.
HG Infra Engineering: Subsidiary HG Khammam Devarapalle Pkg-1 has received financial closure from NHAI for a greenfield highway project.
BHEL: The company has received an NTPC order to set up 2x660 MW Talcher Thermal Power Project Stage-III on engineering, procurement and construction basis.
Power Grid: The company will invest Rs 327.71 crore to build a power transmission project connecting Reliance Industries’ Jamnagar Refinery with Jamkhambhaliya ISTS PS.
LIC: The company has increased its shareholding in BPCL from 15.25 crore to 19.61 crore shares -- equivalent to 9.04% stake.
Supriya Lifesciences: CEO Dr. Shireesh Ambhaikar has resigned due to his personal reasons. He has agreed to extend his services on a retainership basis for two years effective Oct. 1, 2022. He will be succeeded by Rajeev Kumar Jain.
Motherson Sumi Wiring India: The board of the company will meet on Sept. 30 to consider and approve a bonus share issue.
Bank of India: Invests Rs 10 crore for 5.5% stake in ONDC.
Oracle Financial Services: Oracle Corp. to pay $23 million on foreign corruption charges.
Reliance Industries: Launches fashion store format Reliance Centro
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
