Stock Market Today: All You Need To Know Going Into Trade On August 31

Good morning!

Indian Stock Market Recap

On Friday, Nifty 50 settled 84.80 points, or 0.35%, higher at 24,175.65, improving 33.20 points from its provisional close, while Sensex ended 330.92 points, or 0.43%, higher at 77,264.51, gaining 69.92 points from the provisional close. Both benchmarks fell 0.5% for the week, extending their weekly decline to a third consecutive week.

US Stock Market Recap

US stock futures were mixed ahead of Tuesday's trading session as investors turned their attention to Federal Reserve Chair Kevin Warsh's address at Jackson Hole, with markets looking for clues on the central bank's economic outlook and the future path of interest rates.

The Nasdaq 100 was down 0.07% at 26,523.99, while the Dow Jones Industrial Average gained 0.24% to 53,682.48. The S&P 500 was up 0.11% at 7,739.43. Salesdorce Inc. was up 2.33% , while McDonald's Corp shares rose 1.11%. Nike and Amazon were also up nearly 1%. On the other hand, Johnson & Johnson, Boeing Co. and Visa Inc. were trading lower.

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Stocks To Watch

• HDFC Bank: MD & CEO Sashidhar Jagdishan decides not to seek reappointment.
• SBI: Arm to dilute up to 1% stake in NSE via public offer.
• Union Bank, Canara Bank: Challenge NCLT's decision on Subhas Chandra insolvency.
• MCX: Turnover hits record Rs 63 lakh crore on gold surge on Friday.
• Power Cable Stocks: Gujarat plans to remove all overhead electricity wires in urban areas and shift them underground by 2030.
• Tea Stocks: Tea auction prices fall 17%.
• Sterlite Technologies: Signs long-term contract worth $288 million with leading hyperscaler.
• Oil India: Arm Oil Green Energy signs MoU with Haryana government for four integrated waste-to-clean-energy projects.
• SpiceJet: Temporarily halts Boeing 737 MAX operations due to certain leasing disputes.
• NLC India: Arm NNRL, NCRTC executes pact to develop 110 MW solar power project.
• R R Kabel: Gets show-cause-cum-demand notice from Surat tax department.
• JSW Cement: Gets show-cause notice from Jajpur tax department.
• MOIL: Gets short-recovery letter from Madhya Pradesh tax department.
• Oil and Gas Ancillary Stocks: ONGC explores drillship acquisition/JV for deepwater capacity under Samudra Manthan.
• Ola Electric Mobility: Opens bookings for S1Z scooter, price starting at Rs 79,999.
• AXISCADES Technologies: To acquire 90% stake in Cloud Wave Technologies for Rs 234 crore.
• KNR Constructions: Gets LoA worth Rs 158 crore from GHMC.
• IGL: Increases CNG price by Rs 3.89 per kg.
• Cipla: US FDA classifies inspection as VAI for three manufacturing units in New York.
• Piramal Finance: QIP closes; company allots 99.5 lakh shares at Rs 2,110 per share.
• FMCG Stocks: FSSAI proposes red-hexagon warning labels on packaged foods.
• Gujarat Themis Biosyn: QIP closes; approves allotment of 2.1 crore shares at Rs 354 per share.
• Max Estates: To acquire land parcel in Delhi with GDV of Rs 10,000-12,000 crore+. To issue shares at issue price of Rs 597.50 per share worth Rs 420 crore.
• Tata Chemicals: Arm TCNA signs pact with SVM for soda ash contracts worth $21.26 million.
• Godavari Biorefineries: Gets GST demand of Rs 10.6 crore from Karnataka tax department.
• Apollo Tyres: Catalyst Trusteeship releases pledge on 6.31 crore shares, representing 9.93% equity.
• Ather Energy: Launches new EV charging solution.
• Virtuoso Optoelectronics: To issue up to 16.9 lakh shares at Rs 503 per share; ChrysCapital to participate in fund raise.
• Godawari Power and Ispat: Resumes operations at 2 MTPA iron ore pellet plant in Raipur.
• Aurobindo Pharma: US FDA completes inspection of Apitoria Pharma's Unit-IV in Andhra Pradesh and issues three procedural observations in Form 483.
• Ashoka Buildcon: Gets Rs 602 crore order from RVNL.
• Union Bank: To immediately challenge Dr Subhash Chandra's Rs 6.5 crore repayment plan in NCLAT.
• Elgi Equipments: Gets tax refund of Rs 15 crore from US Customs and Border Protection.
• Vimta Labs: To meet Abakkus and Oppenheimer from September 4-9.
• Cipla: US FDA withdraws order on arm after Bombay High Court decision.
• Knowledge Realty Trust: Launches Rs 12,000 crore OFS.
• TARIL: Gets Rs 100-500 crore order from MEIL.
• Waaree Energies: Plans $37 million capex for US facility; consolidates domestic plants.
• Textile Stocks: Apparel exporters urge commerce minister to regulate cotton yarn exports.
• Avantel: Gets Rs 118 crore order from DRDO and Ministry of Defence.
• Karbonsteel Engineering: Gets Rs 67 crore order.
• Innovision: Gets Rs 30 crore order from NHAI.
• Prestige Estates Projects: Launches 7.98-acre residential project in Chennai with estimated GDV of Rs 1,330 crore.
• Craftsman Automation: Incorporates wholly owned subsidiary Craftsman Germany GmbH.
• Cupid: To set up manufacturing venture in South Africa.
• NBCC: Signs MoU with NHPC for infrastructure projects across India.
• Varroc Engineering: Arm VeR files fresh €67 million claim against OP Mobility in Paris courts under supply agreement dispute.
• Hero MotoCorp: Completes acquisition of 1.19 crore shares of Ather Energy for Rs 1,758 crore.
• PVR INOX: Opens six-screen cinema in Bengaluru.
• UGRO Capital: Allots NCDs worth Rs 380 crore.
• Mahindra & Mahindra: Expands Battery-as-a-Service offering across EV SUV portfolio, including XEV 9e, XEV 9S and SPORTEQ.
• Patel Engineering: Sells 32% stake in subsidiary ACP for Rs 55 crore.
• Yatharth Hospital: Denies reports regarding controlling stake sale; says no agreement or MoU has been entered into.
• Thomas Cook India: Opens 80th resort in India at Bastar, Jagdalpur.
• Dhoot Transmission: Acquires 75,000 shares of subsidiary Dhoot Transmission UK for Rs 31 crore.
• Fischer Medical Ventures: Arm Time Medical International Ventures launches CLARION 64/128-slice AI-driven CT system.
• JSW Cement: Management expects broad-based demand growth across segments. Cement realisations increased 6% QoQ in Q1, with trade sales contributing 51% and clinker factor at 55%.
• Power Grid: Acquires Fatehgarh II Transmission for Rs 19.11 crore.
• Aster DM Healthcare: Arm Chemistry Intermediate Holdings acquires STS Holdings for $44.1 million in Bangladesh.
• Reliance Industries: Jio Platforms receives SEBI observation letter on DRHP filed for proposed IPO.
• Clean Max Enviro: Signs term sheet with Envision Energy to procure 1,550 MW of wind power projects.
• 360 ONE WAM: Approves withdrawal of proposed transfer of AIF business to AMC; approves transfer of AIF business from arm PML to 360 ONE Alternates Asset Management.
• Muthoot Microfin: Approves issuance of NCDs worth Rs 250 crore.
• Ola Electric: Secures Rs 95.8 crore under PLI-Auto scheme.
• John Cockerill India: Receives Rs 200 crore order from A1 Iron & Steel Tanzania.
• LIC Housing Finance: Appoints Sandeep Kumar as MD & CEO; T Adhikari ceases to be MD & CEO.
• Dhoot Transmission: Acquires additional 4.84% stake in Dhoot Automotive for Rs 125 crore and 9.99% stake in Dhoot Autocomponents for Rs 85 crore.
• Hitachi Energy India: Approves postal ballot notice for shareholder approval of material related-party transactions with Hitachi Energy Sweden, USA and Switzerland.
• Baazar Style Retail: Opens new store in Andhra Pradesh; total stores at 282.
• Indian Bank: To add 100 branches and increase headcount by 2,500 in FY27.
• Smartworks: To invest Rs 600 crore in FY27 to expand business and meet rising demand for managed office spaces.
• Tata Motors PV and CV: Tata EV bookings triple, production constraints cap growth; festive quarter outlook strong. Management expects demand for electric CVs to remain strong.
• Pidilite: Says demand holding steady in Q2; rules out immediate price hikes.
• Park Medi World: To expand hospital network across north India and add 1,450 beds by FY28.
• Aster DM Quality Care: Approves merger of KIMSHEALTH Executive Leisure with Spiceretreat Hospitality Services, both wholly owned arms.
• Can Fin Homes: Approves raising up to Rs 5,000 crore via NCDs.
• Canara Bank: Approves sale of bank's 70% stake in arm Vidvedaa for Rs 80.5 crore.
• Ram Ratna Wires: Gets show-cause-cum-demand notice from Surat DGG.
• EMS: Bags Rs 19.9 crore order from NHAI.

IPO Update

• ESDS Software IPO: Overall subscription at 2.10x on Day 1; NIIs 3.51x, retail 2.69x, QIBs 0.01x.
• Priority Jewels IPO: Overall subscription at 1.93x on Day 1; retail 3.07x, NIIs 1.24x, QIBs 0.44x.
• Lumino Industries IPO: Overall subscription at 4.87x on Day 2; NIIs 7.78x, retail 6.50x, QIBs 0.06x.
• Annu Projects IPO: Overall subscription at 2.93x on final day; QIBs 1.72x, NIIs 3.55x, retail 2.68x.

IPO Listings

Augmont Enterprises: IPO subscribed 111.18x. Retail subscription at 32.64x, QIB (ex-anchor) at 238.46x and NII at 127.63x.

IPO To Open

Purple Style Labs: Luxury fashion house bringing together Indian designers through in-house labels, a magazine and online and offline platforms. Total issue size of Rs 680 crore, entirely a fresh issue of 1.18 crore shares. Issue opens on August 31 and closes on September 2.

Board Meetings

• Apollo Pipes: To decide on fundraising.
• PVR INOX: To consider buyback of equity shares having face value of Rs 10.
• Virtuoso Optoelectronics: To consider fundraising through issuance of equity shares by way of preferential issue.
• Kiri Industries: To decide on fundraising.
• Can Fin Homes: To decide on fundraising through issue of debentures on private placement basis.

Bulk & Block Deals

• Ather Energy: Hero MotoCorp bought 1.19 crore shares at Rs 1,480 per share from Government of Singapore.
• Genus Power Infrastructures: Chiswick Investment sold 35.78 lakh shares at Rs 324.50 per share; buyers included HSBC Mutual Fund and AART Corporate Advisors.
• Lenskart Solutions: Alpha Wave Ventures entities sold a combined 2.95 crore shares at Rs 630 per share; buyers included ICICI Prudential Mutual Fund, National Pension System Trust, WhiteOak Capital Mutual Fund, ICICI Prudential Life Insurance and other institutional investors.
• S.P. Apparels: Carnelian Asset Management bought and Sundararajan Perumal Mudaliar sold 5 lakh shares at Rs 925 per share.
• Strides Pharma Science: Arun Kumar Pillai bought and SBI Life Insurance sold 10 lakh shares at Rs 990 per share.
• Alok Industries: JM Financial Asset Reconstruction Company sold 3.25 crore shares at Rs 9.55 per share.
• Federal-Mogul Goetze (India): Manish Mahendra Modi sold 2.83 lakh shares at Rs 593.37 per share.
• Ratnaveer Precision Engineering: Thakkar Nileshkumar Farshuram HUF bought 6.65 lakh shares at Rs 296.54 per share.
• Religare Enterprises: Ashish Dhawan bought 18 lakh shares at Rs 232 per share and another 20 lakh shares at Rs 232 per share.
• Xtranet Technologies: Tiger Strategies Fund-I sold 2.74 lakh shares at Rs 182.02 per share; Nandana Ajay Kasotia bought 5.02 lakh shares at Rs 193.21 per share.
• APL Apollo Tubes: Prakruti R Pali bought 1.64 lakh shares at Rs 112.81 per share.

AGM

Maruti Suzuki, Zen Technologies, Ramkrishna Forgings, India Pesticides, Gillette India, Coal India, Five-Star Business Finance, MSTC, Ather Energy, SPML Infra, IOC, Nuvoco Vistas, SBI Card & Payment Services, Tips Music, Electrosteel Castings, SJVN, KPIT Technologies, TruAlt Bioenergy, Muthoot Finance, NALCO, Just Dial, Savita Oil Tech, Bluspring Enterprises, ONGC, Power Finance, Nazara Technologies, Senco Gold, Samhi Hotels, Kwality Pharmaceuticals, GK Energy, IDFC First Bank, 5paisa Capital.

Lock-In

Mangal Electric Industries: 15 million shares, representing 54% of total outstanding shares, under one-year lock-in.

Insider Trade

• Confidence Petroleum: Promoter group entities Essenn LPG Bottling and Confidence LPG Bottling acquire a combined 11.65 lakh shares.
• Rubicon Research: Promoter entity General Atlantic Singapore RR disposes of a total 1.40 crore shares.
• Jindal Steel & Power: Promoter group member Sarika Jhunjhunwala disposes of 95,000 shares.

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Additional Surveillance Measure

• Short-term ASM: Imagicaaworld Entertainment shortlisted.
• Excluded from ASM framework: Sun Pharma Advanced Research, Prabha Energy.

F&O Cues

• Nifty September futures up 0.28% at 24,349, at a premium of 174 points.
• Securities in ban period: LICHSGFIN, SAIL.

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