The market breadth was skewed in the favour of bulls. About 2,582 stocks rose, 863 fell and 119 remained unchanged.
Indian steel prices remained range bound in the month of September. Overall, Indian HRC price was lower by 1%; however Chinese steel price fell 5% on monthly basis according to IDBI Capital report.
After government imposed export duties on steel, steel prices have continued to fall in line with expectations. Also, during monsoon, demand from construction weakens which led to stagnant steel prices.
As per the report the August, global steel production grew by 1% MoM to 151 million tonne while Chinese steel production grew by 3% MoM to 84 million tonne. Chinese steel exports fell by 8% MoM to 6.2 million tonnes in August.
In September, HRC price fell by Rs200/tonne to Rs56,500/tonne, down by 1% MoM after falling nearly 28% from a peak of Rs78,800/ tonne over April-Aug 2022.
Domestic iron ore prices fell by 100/tonne to Rs6,900/tonne after remaining stagnant at Rs7,000/tonne from July mid till August end.
IDBI capital foresee Tata Steel’s European operations to be a key beneficiary due to supply constraints amidst Russia- Ukraine conflict.
IDBI Capital prefer Tata Steel stock in the ferrous space, and maintain a ‘Buy’ recommendation with target price of Rs. 112.
Source: IDBI Capital
The government has approved amendments in private FM phase-III policy guidelines.
Government has decided to remove the 3-year window period for restructuring FM radio permissions within the same management group during the licence period of 15 years.
It also approved the removal of the 15% national cap on channel holding.
Applicants can now participate in bidding for ‘C’ and ‘D’ category cities with a net worth of just Rs 1 crore instead of Rs 1.5 crore earlier.
Source: PIB
Kia India is recalling 44,174 units of its latest model 'Carens' to inspect potential errors in air bag control module software.
Kia to directly reach out to the owners of the concerned vehicles to update them in this voluntary recall.
Source: PTI
The broader indices underperformed their larger peers with MidCap and Smallcap gauges gaining over 1%. All the sectoral indices of BSE advanced with Financial Services, Information Technology, Bankex, Utilities, Auto, Capital Goods, Metal, Power and BSE Teck gaining over 2%.
The market breadth is skewed in the favour of bulls. About 2,558 stocks rose, 760 fell and 137 remained unchanged.
Exchanges have been receiving complaints from various investors alleging that the members are levying brokerage, other charges more than what has been mutually agreed with the client and specified in the tariff sheet.
Advises members to ensure that the client is not charged in excess of agreed rates.
Urges members to ensure that statutory, regulatory levies recovered from client are only at actuals.
Exchanges in consultation with SEBI have decided that details of brokerage/charges to be levied for each other will be prominently displayed to the investor on the "order placement window" on their internet based trading/wireless trading with applications prior to placement of order.
Advises members to implement the provisions latest by December 31, 2022.
Source: NSE Circular (October 3)
Paradeep Phosphates has 1.24 million shares change hands in a large trade.
About 1.24 million shares changed hands in a separate large trade as well.
Details of buyers, sellers are not known immediately.
Source: Bloomberg
The IPO subscribed 0.18 times as of 10:57 a.m. on Oct. 4
Institutional investors: 0 times.
Non-institutional investors: 0.08 times.
Retail investors: 0.32 times.
The broader indices almost mirrored their larger peers. All the 19 sectoral indices compiled by BSE Ltd. rose with Metal, Banking, Auto, Power gauges gaining the most.
The market breadth is skewed in the favour of bulls. About 2,039 stocks rose, 288 fell and 71 remained unchanged.
Yield on the 10-year bond fell 5bps to 7.41%, at the open.
Source: Bloomberg
Gross retail disbursements in Q2 stood at Rs 12,182 crore, compared with Rs 8,478 crore a year ago
Loans and advances rose 11.6% year-on-year to Rs 1.93 lakh crore
Deposits rose 13.2% from a year ago to Rs 2 lakh crore
CASA ratio stood at 31.3%, compared with 31.6% quarter-on-quarter
*provisional numbers
Source: Exchange notification
Auto Retail Sales September (YoY)
Passenger vehicle sales rise 9.7% to 2,60,556 units
Two-wheeler sales rise 9% to 10.15 lakh units
Commercial vehicle sales rise 18.8% to 71,233 units
Tractor sales fell 1.5% to 52,595 units
Source: FADA
Indian currency appreciated 27 paise to 81.61, at the open.
Source: Bloomberg
Advances rose to Rs 2.59 lakh crore as of September 30, up from Rs 2.2 lakh crore a year ago
Total deposits rose 15% year-on-year to Rs 3.15 lakh crore.
CASA deposits constituted 42.4% of total deposits
*Provisional figures
Source: Exchange notice
City gas major Mahanagar Gas hiked retail prices of CNG by Rs 6 per kg and PNG by Rs 4 per scm in and around Mumbai from Monday midnight.
CNG now costs Rs 86 per kg, while PNG costs Rs 52.5 per unit.
This hike puts the rate back at August levels.
Source: PTI
Markets and business data platform Tracxn has set its price band at Rs 75-80 per share for its IPO.
The IPO will open from Oct. 10 to Oct. 12.
Anchor investors will bid for shares on Oct. 7.
Source: Company announcement
U.S. Dollar Index at 111.65
U.S. 10-year bond yield at 3.62% on Monday
Brent crude up 0.06% to $88.91 per barrel
Nymex crude at $83.47 per barrel
SGX Nifty up 1% to 17,038 as of 6:08 a.m.
Bitcoin up 0.1% to $19,617.4
Tata Steel Long Products: The company restarted the blast furnace at the Kalinganagar plant of its subsidiary Neelachal Ispat Nigam within 90 days after completing its acquisition.
South Indian Bank: As on Sept. 30, 2022, the lender registered a 17% rise year-on-year in gross advances to Rs 67,981 crore, while total deposits grew 2% to Rs 88,503 crore. CASA deposits increased 14% to Rs 30,574 crore, as CASA ratio improved 372 basis points.
HDFC: In the September quarter, the lender sold individual loans to the tune of Rs 34,513 crore, against Rs27,199 crore in the previous year, while gross income from dividend rose to Rs 1,360 crore, compared to Rs 1,171 crore a year ago.
Vedanta: The mining major released production figures for the second quarter of the current fiscal. Total alumina production increased 2% to 5.84 lakh tonnes in the quarter ended Sept. 2022, whereas refined zinc production increased 16% to 1.89 lakh tonnes.
Avenue Supermarts: As per the provisional quarterly figures submitted by the company, standalone revenue from operations for the quarter ended Sept. 30, 2022, stood at Rs 10,384.66 crore, against Rs 7,649.64 crore in the year-ago period. The total number of stores as of Sept 30, 2022 stood at 302.
Mahindra & Mahindra Financial Services: The insurer recorded 82% growth in disbursements in the quarter ended Sept. 30, 2022. Collection efficiency was at 98% at the end of last month. The asset quality further improved during the month and the quarter ended September 30, 2022. The company closed the month with a liquidity chest of over three months.
Marico: The company posted low single-digit volume growth in its India business during the second quarter of the current fiscal, with the 3-year CAGR in high single digits. Consolidated revenue in the quarter grew in low single digits on a year-on-year basis.
Britannia: A wholly owned subsidiary of the company acquired control of Kenafric Biscuits, a private limited liability company incorporated in Nairobi, Kenya by subscribing to 51% of its equity share capital, and acquired 100% of the equity share capital of Catalyst Britania Brands.
Dilip Buildcon: The company, through the RBL-DBL joint venture, has received the letter of acceptance for Surat metro rail project worth Rs 1,061 crore from Gujarat Metro Rail Corporation.
NCC: The company received a new order for Rs 393 crore (exclusive of GST) in September, pertaining to its building division. The order came from state government agencies and does not include any internal order.
Bank of Maharashtra: The lender registered almost 16% growth in total business as on Sept. 30, 2022. Total deposits grew 7.86%, while CASA deposits rose 12.58%. Gross advances at the end of the month saw a rise of 28.65%.
KEC International: The company has secured new orders worth Rs 1,407 crore across its transmission and distribution, civil, railways and cables businesses.
Adani Green: The company has incorporated three new step down subsidiaries to to generate, develop, transform, distribute, transmit, sale, supply any kind of power or electrical energy using wind energy, solar energy or other renewable sources of energy.
Quess Corp: The company has appointed Kamal Pal Hooda as Group CFO (designate) with immediate effect. He will succeed N. Ravi Vishwanath, who is scheduled to step down from the post in 2023.
Hindustan Zinc: The company recorded a growth of 16% in production of refined zinc, and 21% in refined lead at the end of Sept. quarter of the current fiscal. Total mined metal production increased 3% during this period.
U.S. stocks opened October on a strong note as Treasury yields took a break from their seemingly incessant surge. Yield on 10-year Treasuries dipped 19 basis points to 3.64%.
The S&P 500 rose 2.3%, while Nasdaq 100 increased 2%. Meanwhile, oil rose 5% with OPEC+ expected to announce a supply cut soon. Gold rose 1.8%, while Bitcoin jumped 1.7% to trade over the $19,500-mark.
Domestic benchmark indices turned red once again as commodities, FMCG, utilities, auto, banking and power led the decline. Healthcare stocks bucked the trend, though.
Rupee reversed gains to end the day close to the Rs 82-mark against the U.S. dollar. At 7:30 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- gained 1.44% to 17,112.