Good Morning!
The Gift Nifty was trading around 23,349 level, a premium of nearly 15.60 points from the Nifty futures' previous close indicating negative open for the benchmark Nifty 50. The NSE Nifty 50 rose 0.23% while the BSE Sensex fell 0.03%. US and European index futures are trading higher during Asian trading hours.
- S&P 500 futures trade 1.14% higher.
- Euro Stoxx 50 futures trade 0.94% higher.
US Market Recap
Stocks rose alongside bonds as falling oil prices fueled optimism that inflation remains under control, a day after the Federal Reserve raised rates for the first time since 2023.Equities posted their biggest gain in six weeks. The S&P 500 climbed 1.1% as of 4 p.m. New York time, the tech-heavy Nasdaq 100 added 1.7%, and the Dow Jones Industrial Average gained 0.6%, according to Bloomberg.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
ALSO READ: Wall Street Highlights: S&P 500, Nasdaq Bounce Back From Fed Decision Slump As Oil Falls
Asian Market Recap
Asian stocks and bonds tracked Wall Street's rally as a dip in oil prices tempered inflation worries.The yen held steady ahead of the Bank of Japan's rate decision, where a hike is widely expected. MSCI's Asia-Pacific index gained 0.3%, led by South Korea's Kospi. The move followed a 1.1% jump in the S&P 500 on Thursday — its biggest gain since early August. Hang Seng futures added 0.4%, while Japan's Topix was flat, according to Bloomberg.
ALSO READ: Asian Markets Today: Kospi Jumps 2.2%; Nikkei Gains As US Rally Lifts Sentiment
Commodity Check
Gold held onto gains after a volatile week, as the Federal Reserve's first rate hike since 2023 and lower oil prices eased inflation concerns. Bullion traded around $4,350 an ounce after jumping almost 2% on Thursday, recouping most of the losses from the previous three sessions and pushing back above its 100-day moving average.
Spot gold was up 0.2% at $4,351.96 an ounce at 8:12 a.m. in Singapore. Silver rose 0.4% to $65.51, after surging 3.6% a day earlier, while platinum and palladium edged higher.
Oil fell for a third straight day as supply worries eased and traders awaited the next round of diplomacy that could shape the US-Iran conflict. Brent dropped below $104 a barrel after losing more than 3% over the previous two sessions, while West Texas Intermediate hovered near $101. In the Middle East, Saudi Arabia is working to restore its damaged East-West pipeline to the Red Sea coast, aiming to bring back about half its capacity within days. Meanwhile, some tankers are still navigating the contested Strait of Hormuz.
Stock Market Recap
Domestic equity benchmarks Sensex and Nifty 50 ended largely flat on Thursday, with gains in Pharma, Realty and auto stocks offsetting pressure from metal and banking stocks.
Market sentiment was also aided by heightened activity in the primary market, with IPOs keeping investors engaged, even as the weekly expiry of Sensex contracts added to trading activity.
Nifty 50 closed 0.23% higher at 23,270.60, while the BSE Sensex ended marginally lower (0.03%) at 74,314.59.
Earnings
Skyways Air Q1
Revenue up 93.1% to Rs 1,217 crore versus Rs 630 crore YoY
Ebitda at Rs 49.9 crore versus Rs 18.3 crore YoY
Ebitda margin at 4.1% versus 2.9% YoY
Net profit at Rs 19.7 crore versus Rs 6.8 crore YoY
Designates Yashpal Sharma as CEO
Stocks In News
- PTC India: Incorporates JV company NIRL PTC Renewables
- Wipro: Collaborates with Aramco and SAP; pact to launch Wipro STO360 solution for shutdown, turnaround and outage management
- Federal Bank: Approves up to $500 million medium-term note programme; programme to include foreign currency bonds
- SEAMEC: Completes sale of bulk carrier Seamec Gallant
- Responsive Industries: Board decides not to proceed with proposed buyback
- PB Fintech: Denies speculation of Chair Yashish Dahiya resigning; Dahiya continues as Chair and Group CEO
- Bharat Electronics: Gets additional orders worth Rs 648 crore since Aug. 26
- HCC: Arm to incorporate JV with Ceigall India for infrastructure works
- Motisons Jewellers: Approves redemption of 50 lakh non-convertible redeemable preference shares
- CMR Green Technologies: Provides $4 million bank guarantee for US arm
- Avenue Supermarts: Opens new store in Dharwad; total store count stands at 510
- Share India Securities: Acquires 100% stake in Enshrine Leasing for Rs 39.7 crore
- NLC India: Arm incorporates JV company NIRL PTC Renewables
- Kothari Industrial Corp: Forays into FMCG with first beverage portfolio under CHUSIP Coco Twist
- Apollo Pipes: Incorporates arm Apollo Ceramics
- Orient Green Power: Enters Rs 62 crore EPC contract with Renfra Energy; contract covers two 3.3 MW wind turbine generators
- ESAF Small Finance Bank: Board to meet on Sept. 23 to consider Tier-II bond fundraise
- HCLTech: Board to consider Q2 results on Oct. 12
- Ind-Swift Laboratories: Approves allotment of warrants worth Rs 34.3 crore on preferential basis
- Roto Pumps: NCLT allows first motion application for merger of arm Roto Energy Systems with company
- Arvind: Completes acquisition of 26.6% stake in Torrent Urja 21
- Sambhv Steel Tubes: Clarifies Regulation 166A not applicable to present preferential issue; proposed allotment does not result in change in control
- NLC India: Prasanna Kumar Acharya assumes charge as CMD for five years; relinquishes Director Finance and CFO role
- Lemon Tree: Opens 80-room hotel in Jabalpur
- GPT Infra: Gets Rs 484 crore order from RVNL for railway bridge works
- Bharat Forge: QIP opens; sets Rs 1,947.70 per share as floor price
- Central Mine Planning: Approves draft MoU with OIL India for clean energy and critical minerals; approves draft MoU with CSIR-CIMFR for coal gasification research
- Petronet LNG: To form 50:50 JV with Gruner Renewable Energy; JV to set up biogas plants with Rs 1,200 crore investment
- Onida Electronics: Approves allotment of 73.8 lakh warrants worth Rs 6.5 crore
- Time Technoplast: Completes Rs 24 crore greenfield packaging products plant; plant expected to generate Rs 100 crore revenue at 90% utilisation
- Aavas Financiers: To issue NCDs worth Rs 9,000 crore via private placement; RBI approves Manu Singh as MD for five years
- CESC: Board to meet on Sept. 22 to consider NCD issue
- PVR INOX: Opens three-screen multiplex in Gurugram
- Sanofi India: Promoter Sanofi Healthcare to buy up to 15.2% stake from Hoechst GmbH
- Balrampur Chini Mills: Shareholders approve reappointment of Vivek Saraogi as CMD for five years
- Apeejay Surrendra Park Hotels: Appoints Manish Bhagat as CFO from Sept. 21; Atul Khosla resigns as CFO from Sept. 21
- Premier Energies: Arm IBD Solar Powertech gets winding-up certificate in Bangladesh
- Oberoi Realty: Allots 13.16 lakh sq ft RERA carpet area for Rs 7,891 crore booking value; clarifies no stay on construction of Gurugram project
- Anupam Rasayan: Arm proposes Rs 300 crore NCD issue via private placement; arm is Mates Visa Consultancy
- GR Infra: NTPC invokes Rs 49.5 crore mobilisation advance bank guarantee; NTPC invokes Rs 41.3 crore insurance performance surety bonds
- Amber Enterprises: Shareholders approve Jasbir Singh as Executive Chairman, CEO and Whole-Time Director
- NLC India: Sanoj Kumar Jha ceases to be CMD
- Asian Paints: Commences VAE production at Dahej unit; VAE is Vinyl Acetate Ethylene Emulsion; Dahej unit has installed capacity of 1.5 lakh tonnes per year
IPO Listing
Veegaland Developers Ltd.
Veegaland Developers is engaged in real estate development, focusing on residential, commercial and mixed-use projects.
QIB (Ex Anchor): 19.13x
NII: 19.41x
bNII (> Rs 10 lakh): 18.59x
sNII (< Rs 10 lakh): 21.06x
Retail: 9.95x
Total: 14.60x
IPO To Open
NIL
Bulk & Block Deals
- Asian Paints: SMITI HOLDING AND TRADING COMPANY bought 1.64 lakh shares at Rs 2,440 per share; JALAJ A DANI sold 1.64 lakh shares at Rs 2,440 per share.
- Gland Pharma: BOFA SECURITIES EUROPE SA bought 1.50 lakh shares at Rs 2,826.60 per share; NORTH ROCK SG VCC sold 1.50 lakh shares at Rs 2,826.60 per share.
- Entero Healthcare Solutions: PRASID UNO FAMILY TRUST sold 3.30 lakh shares at Rs 1,694.97 per share and 4.10 lakh shares at Rs 1,692.98 per share.
- Karamtara Engineering: AUTHUM INVESTMENT & INFRASTRUCTURE bought 50.29 lakh shares at Rs 350.25 per share.
- LCC Projects: NEOMILE CORPORATE ADVISORY bought 65 lakh shares at Rs 186.10 per share.
- Ratnaveer Precision Eng: NOVA GLOBAL OPPORTUNITIES FUND PCC - TOUCHSTONE sold 7.46 lakh shares at Rs 290.01 per share; NOPEA CAPITAL SERVICES sold 6.21 lakh shares at Rs 290 per share.
- Rentomojo: S I INVESTMENTS BROKING bought 6 lakh shares at Rs 491.61 per share; ABS DIRECT EQUITY FUND LLC - INDIA SERIES 3 bought 5.22 lakh shares at Rs 504.55 per share; HELIOS MUTUAL FUND bought 8.70 lakh shares at Rs 510.42 per share; CHIRATAE GROWTH FUND I sold 13.05 lakh shares at Rs 520.61 per share.
Corporate Actions
NIL
Board Meeting
Avantel: To consider and approve scheme of merger of wholly owned subsidiary into Avantel
Power Grid Corp: To consider fund raising
Rossell Techsys: To consider fund raising
Share India Securities: To consider fund raising
Vedanta: To consider fund raising
VIP Industries: To consider fund raising
Lock-In
NIL
Insider Trades
Shreeji Shipping Global: ASHOKKUMAR HARIDAS LAL, Promoter, sold 3 lakh shares; JITENDRAKUMAR HARIDAS LAL, Promoter, sold 3 lakh shares.
Usha Martin: Peterhouse Investments, Promoter Group, sold 2 lakh shares.
La Opala RG: GENESIS EXPORTS, Promoter, bought 2 lakh shares.
Trualt Bioenergy: NIRANI HOLDINGS, Promoter Group, bought 50,000 shares.
Alembic: Nirayu, Promoter Group, bought 1.2 lakh shares.
Short-Term ASM
Securities shortlisted: eMudhra, Utssav CZ Gold Jewels
Securities excluded: Balu Forge Industries, Centum Electronics, Milky Mist Dairy Food, PC Jeweller, SML Mahindra
Price Band
NIL
ALSO READ: Buy, Sell Or Hold: BHEL, Hyundai Motor, Coforge, HDFC Bank, Raymond And BEL — Ask Profit
F&O Cues
Nifty September futures up 0.33% to 23,350 at a premium of 79 points.
Nifty options Sept. 22 expiry: Maximum Call open interest at 24,500 and maximum Put open interest at 22,000.
Securities in ban period: Bandhan Bank, Inox Wind, Manappuram Finance, SAIL
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
