Stock Market Today: All You Need To Know Going Into Trade On Aug. 18

Shares in Asia are poised to drop as investor concern that monetary policy makers may not be done raising interest rates fueled a further selloff in U.S. stocks and bonds.

Equity futures for benchmarks in Japan, Australia and Hong Kong all declined. Contracts on U.S. indexes fell in early Asia trading after stocks in New York extended this week’s losses on Thursday, with the Nasdaq 100 notching its worst three-day slide since February.

Meanwhile, Brent crude was trading below $85 a barrel and West Texas Intermediate was above the $80-mark. The yield on the 10-year U.S. bond was trading at 4.27% and Bitcoin was below 27,000-level.

At 5:17 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was down 66 points or 0.34% at 19,317.

India's benchmark stock indices opened lower and declined through Thursday to end the trading session off the day's low. While consumer durables and PSU banking sectors were resilient in trade, energy and fast moving consumer goods shares dropped.

The S&P BSE Sensex closed 388 points down, or 0.59%, at 65,151.02, while the NSE Nifty 50 ended 100 points, or 0.51%, lower at 19,365.25.

Overseas investors turned net sellers of Indian equities on Thursday. Foreign portfolio investors offloaded stocks worth Rs 1,510.9 crore, while domestic institutional investors also turned net sellers and sold equities worth Rs 314 crore. The local currency had a weakest-ever close at 83.15 against the U.S. dollar on Thursday.

• Adani Energy Solutions:

  • The company has initiated arbitration proceedings against Gujarat Energy Transmission Corp. and expects to claim Rs 99.76 crore regarding work done on 400 kV D/C Mundra-Zerda transmission line. It is also fighting three claims aggregating Rs 1,862.5 crore in various courts.

  • Promoter entity Gelt Berry bought 2.38 crore shares or 2.13% stake between Aug. 3 and 14 through open market transactions. The promoter stake in the company now stands at 70.41%.

  • The company signed a deal with Megha Engineering & Infrastructures to acquire KPS 1 Transmission. It will buy 100% equity shares of KPS 1 at face value of Rs 10 apiece. KPS 1 aims to implement KPS1-Khavda PS GIS (KPS2) 765 kV double circuit line and augment Khavda PS1.

• Adani Green Energy: Its associate company, Mundra Solar Energy, has received approval for its solar photovoltaic manufacturing plant at Mundra, Gujarat from the Solar Energy Corp. of India. The plant has capacity of 2.0 GW per annum.

• LTI Mindtree: The company is selected by U.S.-based Aflac as digital transformation partner for application modernization and cloud transformation. The company will rearchitect Aflac’s on-prem applications that are currently deployed on an out-of-support-platform.

• NTPC: The company inked business transfer agreement to sell its coal mining business to unit, NTPC Mining. It will transfer all six coal mines to NTPC Mining.

• Zydus Lifesciences: The company got final approval from the USFDA for Doxepin tablets used to treat insomnia. Doxepin tablets, 3 mg and 6 mg had annual sales of $43.4 million in the U.S.

• Astral: Its U.K. unit Seal IT Services has incorporated one new step-down subsidiary to distribute, transmit and sell building chemicals from U.K. into Ireland as an EU-entity for importer responsibilities covering REACH, CPL packaging regulations and related safety responsibilities.

• Gujarat Mineral Development Corp: The board has decided to upwardly revise the dividend for FY23 to Rs 11.45 per share having face value of Rs 2 each, as against dividend of Rs 9.10 recommended earlier on May 30.

• Spandana Sphoorty Financial: The board has approved the issuance of non-convertible debentures up to Rs 75 crore, including green shoe option of Rs 25 crore on private placement basis. The debentures carry an interest rate of 10.60% quarterly, with a tenure of 18 months from allotment, which is Aug. 24. The instrument will be listed on the BSE.

• Jain Irrigation Systems: The board has approved preferential allotment of 1.6 crore equity share warrants to promoters’ corporate entity. It also approved preferential allotment of 2.64 crore equity share warrants to non-promoter entities belonging to Alpha Alternatives Structured Credit Opportunities Fund associates.

• Other Stocks: ACC, Nykaa, HDFC Asset Management, Indus Towers and Page Industries will be excluded from Nifty Next 50 and Nifty 100 indices with effect from Sept. 29. On the other hand, Punjab National Bank, TVS Motor Company, Shriram Finance, Trent and Zydus Lifesciences will be included.

Concord Biotech: The company will be listing shares on the stock exchanges on Friday. The IPO's price band was in the range of Rs 705-741 apiece. Concord Biotech launched its initial public offering on Aug. 4, which was subscribed 58% on day 1, 2.72 times on day 2 and 24.87 on day 3.

• DB Realty: Abhay Shyamsunder and Aditya S Chandak sold 20 lakh shares (0.5%) each and Authum Investment and Infrastructure bought 40 lakh shares (1%) at Rs 127 apiece.

• Jai Corp: Gagandeep Consultancy bought 10 lakh shares (0.6%) at Rs 199.7 apiece.

• Poly Medicure: Promoter Rishi Baid sold 24,950 shares on Aug. 14.

• Globus Spirits: Promoter Rambagh Facility Services bought 2,200 on Aug. 17.

Aditya Birla Capital, Aptus Value Housing Finance India, Bandhan Bank, Federal Bank, Kalyani Steels, Pfizer, Pitti Engineering, UPL, Yes Bank.

• Price Band Revised From 10% To 5%: Force Motors, Spacenet Enterprises India.

• Price Band Revised From 20% To 10%: DB Realty.

• Ex-date Dividend: Whirlpool of India, Tega Industries, JK Paper, AVT Natural Products, LIC Housing Finance, ONGC, Tata Metaliks, Somany Ceramics, Apollo Hospitals, Sirca Paints India, D-Link (India), Petronet LNG, Godawari Power And Ispat, Jindal Steel & Power, Coal India, IFGL Refractories, RBL Bank, Focus Lighting and Fixtures, Greenply Industries, Prudent Corporate Advisory Services, IRCTC.

• Ex-date Interim Dividend: Page Industries, Container Corporation of India.

• Ex-date AGM: Whirlpool of India, JK Paper, AVT Natural Products, LIC Housing Finance, Tata Metaliks, Somany Ceramics, Apollo Hospitals, Hindustan Zinc, D-Link (India), Wonderla Holidays, IFGL Refractories, Sirca Paints, Greenply Industries.

• Record-date Dividend: ONGC, Petronet LNG, Jindal Steel & Power, Coal India, RBL Bank, Focus Lighting and Fixtures, Prudent Corporate Advisory Services.

• Move Into Short-Term ASM Framework: DB Realty, Johnson Controls-Hitachi Air Conditioning India, JSW Energy.

• Move Out Of Short-Term ASM Framework: Ashapura Minechem, Jagran Prakashan.

• Motilal Oswal Financial Services: To meet investors and analysts on Aug. 23.

• Hero MotoCorp: To meet investors on Aug. 22.

• Nifty August futures ended at 19,384.00, a discount of 100.55 points.  

• Nifty August futures rose 2.70%, with 5,848 shares in open interest.  

• Nifty Bank August futures ended at 44,042.10, a discount of 32.30 points.  

• Nifty Bank August futures rose 6.67% with 8,808 shares in open interest.  

• Securities in the ban period: Indianbulls Housing Finance, Delta Corp, Chambal Fertilizers & Chemicals, Zee Entertainment Enterprises, Granules India, India Cements, Gujarat Narmada Valley Fertilizers and Chemicals, Hindustan Copper, Steel Authority of India, Punjab National Bank.

Indian rupee rose 0.23% to close at its weakest-ever 83.15 against the U.S. dollar on Thursday.

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