Stock Market Today: All You Need To Know Going Into Trade On Sept. 1

Stocks in the news, big brokerage calls of the day, complete trade setup and much more!

<div class="paragraphs"><p>(Source: <a href="">Max Delsid</a>/Unsplash)</p></div>
(Source: Max Delsid/Unsplash)

US equity futures and Asian stocks fell Thursday as markets continue to decline, supporting the dollar and pushing up sovereign-bond yields.

An Asian share index dropped to a six-week low, dragged down by the tech sector, with China’s bourses among the few to show any resilience. Contracts on the S&P 500 and tech-heavy Nasdaq 100 also slid. The latter shed 1% after chipmaker Nvidia Corp. sank in extended trading on a sales warning.

At 7:40 am, the Singapore-traded SGX Nifty--an early barometer of India's benchmark Nifty 50--traded 0.17% lower at 17,479.50 points.

Elsewhere, oil was on the back foot, sliding to about $89 a barrel. Bitcoin weakened, hovering around the closely watched $20,000 level.

Stock Market Today: All You Need To Know Going Into Trade On Sept. 1

Stocks To Watch

  • Zee Entertainment: The company entered strategic licensing agreement with Disney Star for TV broadcasting rights for ICC Men’s and Under 19 global events for a period of four years. Merger between Sony and Zee Entertainment will likely hurt competition, CCI found in an initial, Reuters reported citing an offical notice. CCI's findings could potentially delay regulatoary approval for the deal.

  • Tata Motors: The company has bought 49% stake of Marcopolo S.A. in Tata Marcopolo Motors for Rs 99.96 crore. Consequently, TMML will become a wholly owned subsidiary of the company.

  • Tata Steel: The company has invested Rs 54 crore in its wholly owned subsidiary Tata Steel Mining.

  • Infosys: The company divested its minority stake in San Francisco based Trifacta Inc for $12 million.

  • Glenmark: The company along with Hikma Pharmaceuticals launched nasal spray Ryaltris for relief for both nasal and ocular symptoms of seasonal allergic rhinitis

  • Inox Wind: The company approved fund raising of Rs 800 crore via issue of non-convertible preference shares to promoters on preferential basis. The funds will be used for repayment of debt. It aims to achieve net debt zero status “in the near future.”

  • Credit Access Grameeen: The company has entered an arrangement to avail $90 million through first of its kind Loan Syndication Arrangement led by HSBC Bank. The other lenders in the syndication arrangement include Bank of India, Union Bank of India and UCO Bank.

  • Aditya Birla Fashion and Retail: The company received approval from Competition Commission of India for acquisition of 7.49% stake by Caladium Investment Pte for Rs 2,195 crore.

  • Ashok Leyland: Company has received orders from major fleets for 1,400 school buses in the UAE, the company’s largest ever supply of school buses in this country, PTI reports.

Pledge Share Details

  • Uflex: Promoter Group Flex International revoked a pledge of 25,000 shares on August 29.

  • Max Financial Services: Promoter Max Ventures Investments Holdings revoked a pledge of 4 lakh shares on August 26.

  • Jindal Steel & Power: Promoter Group OPJ Trading revoked a pledge of 18.01 lakh shares on August 23.

  • Jubilant FoodWorks: Promoter Jubilant Consumer created a pledge of 46 lakh shares on August 29.

  • Coffee Day Enterprises: Promoter V.G.Siddhartha invoked a pledge of 5 lakh shares on August 19.

  • Gensol Engineering: Promoter & Directors Anmol Singh Jaggi created a pledge of 34,128 shares and Anmol Singh Jaggi created a pledge of 14,896 shares on August 29.

Reliance Capital Insolvency: IDBI Trusteeship Not The 'Owner' Of Pledged Shares, Administrator Says

Insider Trades

  • Nirlon: Promoter Group Shital Trading Interiors sold 5,000 shares on August 29.

  • Arman Financial Services: Promoter Himani A Manakiwala sold 2,000 shares on August 29.

  • Zydus Wellness: Promoter Group Zydus Family Trust bought 5,785 shares on August 29.

  • Vaibhav Global: Promoter Group Brett Enterprises bought 4,000 shares on August 29.

  • Geojit Financial Services: Promoter BNP Paribas SA sold 9.32 lakh shares between August 24 and August 26.

  • Jindal Steel & Power: Promoter Group Opelina Sustainable Services bought 16.09 lakh shares on August 25.

  • DB Corp: Promoter Girish Agarwal bought 3.77 lakh shares between August 24 and August 29.

  • Star Cement: Promoter Group Sarika Jalan sold 1,927 shares on August 24.

Bulk Deals

  • Best Agrolife: R.B.A. Finance Investment bought 3.17 lakh shares (1.34%) at Rs 944.82 apiece. Ashish Rameshchandra Kacholia bought 3.18 lakh shares (1.34%) at Rs 940.88 apiece. Linton Traders sold 1.68 lakh shares (0.71%) at Rs 927.5 apiece. Sidhivinayak Chemtech sold 5.18 lakh shares (2.19%) at Rs 971.21 apiece.

Adani Becomes World’s Third Richest Trailing Only Musk, Bezos

Who’s Meeting Whom

  • Cummins India: To meet analysts and investors on September 2.

  • Schaeffler India: To meet analysts and investors on September 1 and 2.

  • Neogen Chemicals: To meet analysts and investors on September 5, September 16, and September 23.

  • Gati: To meet analysts and investors on September, September 6, September 7, September 8, September 16, and September 20.

  • Allcargo Logistics: To meet analysts and investors on September 5 and 6.

  • Capri Global Capital: To meet analysts and investors on September 1.

AGMs today

  • Eric Lifesciences

  • HEG

  • Hindware Home Innovation

  • HLE Glascoat

  • Jyoti Resins & Adhesives

Trading Tweaks

  • Price Band Revised From 10% To 5%: IndoStar Capital Finance, Nelco

  • Ex-Date Annual General Meeting: Emami, Dynamatic Technologies, Bannari Amman Sugars

  • Ex-Date Dividend: NBCC (India), Surya Roshni, Bannari Amman Sugars, Gujarat State Petronet, IndiaMART InterMESH, Pilani Investment & Industries Corp

  • Ex-Date Final Dividend: Supriya Lifescience

  • Ex-Date Interim Dividend: Power Finance Corporation

  • Ex-Date Face Value Split: Savita Oil Technologies

  • Ex-Date Stock Split: Ritesh Properties and Industries

  • Record-Date Demerger: Piramal Enterprises

  • Record-Date Annual General Meeting: HeidelbergCement India

  • Record-Date Dividend: HeidelbergCement India

  • Move Into Short-Term ASM Framework: Kingfa Science and Technolgy (India), Jupiter Wagons, IndoStar Capital Finance

  • Move Out Of Short-Term ASM Framework: Pearl Global Industries

Kotak Mahindra Bank Asks RBI To Standardise Fraud Reporting Across Banks

Money Market Update

The rupee ended at Rs 79.45 against the U.S. Dollar on Tuesday as compared to Monday's closing of Rs 79.96

F&O Cues

  • Nifty September futures ended at 17,823, a premium of 63.7 points.

  • Nifty September futures added 4.86% and 10,758 shares in Open Interest.

  • Nifty Bank September futures ended at 39,710.65, a premium of 173.9 Points.

  • Nifty Bank September futures rose 7.04%, 5,910 shares in Open Interest.

Stock Market Today: All You Need To Know Going Into Trade On Sept. 1

Research Reports

Indians Continue To Stock Up On Cash At A Slower Pace