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Top Things To Know Today Morning:
The Indian stock market is expected to open in the green.Oil prices climbed more than 5 per cent on Monday.SEBI comes out with uniform timeline for listing securities on private placement basis.Supreme Court has deferred the next hearing on loan moratorium to October 13.SEBI introduces very high-risk category in mutual fund schemes.Office absorption up 64% in third quarter, new completions increase 59%: JLL reportStock Specific News:
HDFC Bank’s advances rose 16 percent to Rs 10.4 lakh crore, while deposits increased 20 percent to Rs 12.3 lakh crore, YoY.HDFC Limited’s individual loan approvals in Q1FY21 increased 9 percent YoY but disbursements were down 5 percent YoY.Banks Board Bureau has recommended Dinesh Kumar Khara to take over as the new chairman of State Bank of India.Credit Access Grameen launched QIP issue on Monday at a floor price of Rs 707.69 per share.Britannia board has approved the issue of debenture and payment of a dividend of Rs 12.50.Infibeam Avenues has entered into a definitive agreement with Jio platforms to license.GSFC is set to take up manufacturing of Calcium Nitrate, becoming the first company in India to do so.Tata Motors: JLR retail sales rose 50 percent in Q2FY21. However, sales were down 11.9 percent YoY.Escorts has completed acquisition of 2 crore equity shares of KAI from KBT.PVR has issued NCDs worth Rs 50 crore.Vodafone lenders approve merger of Indus Towers with Bharti Infratel.AirAsia India is getting funds from only Tata Sons and not its Malaysian eponymous parent. -
Top Things To Know Today Morning:
The Indian stock market is expected to have a gap-up opening.Oil prices fell for a second day on Wednesday.DGCA extends suspension of international commercial flights till October 31.India's external debt at $554.5 billion at June-end: RBIGovernment to borrow Rs 4.34 lakh crore in second half of FY21.Eight core industries' output contracts 8.5% in August.Centre extends GST return due date deadline for FY19 filing to October 31.US economy plunges 31.4% in spring but big rebound expected.Govt slashes domestic natural gas price by 25 percent to $1.79/mmBtu.Stock Specific News:
Reliance Industries announced that co-investors of Silver Lake will invest an additional Rs 1,875 crore into Reliance Retail Ventures Ltd.The National Housing Bank has imposed a penalty of Rs 1.5 lakh on HDFC for non-compliance.Bank of Baroda has dissolved its wholly-owned non-functional subsidiary in UK.Chemcon Speciality Chemicals and CAMS shares will be listed today.Punjab National Bank has reported a borrowal fraud of Rs 1,203.26 crore in the NPA account of Sintex Industries Ltd.Dhanlaxmi Bank shareholders have rejected the appointment of Sunil Gurbaxani as MD and CEO of the bank.Lupin has launched cancer drug Lapatinib tablets in the US.MOIL has raised price of all grades of Ferro, SMGR grades, fines and Chemical grades by 7.5%. -
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Top Things To Know Today Morning:
The Indian stock market is expected to open in the green.Oil drops second day as surging coronavirus cases prompt demand worries.RBI defers CCB implementation by 6 months due to COVID-19.RBI gives more time to states to avail additional market borrowing, OD facility.Ministry of Power is working on a proposal to reduce power purchase costs.Automobile sales may fall 20-25% this fiscal: Ind-Ra.Japan's factory output rises for third month in August.China's factory activity extends solid growth in September, new export orders surge: Caixin PMI.Sugar mills can submit ethanol proposals.India has initiated a probe into an alleged increase in subsidised imports of copper tubes and pipes.Stock Specific News:
The NCLT Mumbai has sanctioned the Scheme of Amalgamation for the merger of HDFC ERGO Health Insurance into HDFC ERGO.Vodafone Idea will seek shareholders' approval to raise the borrowing limit to Rs 1 lakh crore at the annual general meeting scheduled today.Indiabulls Housing Finance has sold a portion of its stake in OakNorth Holding Ltd. to TEMF Ltd for approximately Rs 630 crore.PVR will consider raising funds via NCDs on October 5.ICRA has reaffirmed the credit rating of the Indraprastha Gas for Rs 4,000 crore at AAA and A1+.Welspun Corp has received multiple orders of approximately 147 KMT valuing close to Rs 1,400 crore.The RBI has appointed D K Kashyap, General Manager, Reserve Bank of India as Additional Director on the Board of Dhanlaxmi Bank till September 27, 2022.Promoter Sumitomo Chemical Company will sell up to 1.64 crore equity shares in the Sumitomo Chemical India at a floor price of Rs 270 per share.Arvind Lifestyle Brands and Gap Inc. have decided to mutually terminate their franchise business relationship in India. -
Top Things To Know Today Morning:
The Indian stock market is expected to open flat.Oil slips as demand worries offset hopes for stimulus.Government keeps tight leash on expenditure.RBI postpones MPC meeting to next week.SEBI eases fund raising norms for REITs, InvITs.North Block is readying a draft Bill to amend the GST Compensation Act.Housing sales up 34% in July-September, unsold inventory marginally down: JLLRBI extends MSF facility for banks until March next year.Stock Specific News:
India Grid Trust has completed the acquisition of 74 percent in JKTPL and Techno Electric & Engineering Company.HDFC Asset Management Company has offloaded the entire 5.02 percent stake in Hexaware Technologies.Shalby board has approved to reduce promoters' shareholding in the company to 75 percent from 79.45 percent.Infosys' subsidiary EdgeVerve Systems has signed a partnership with Minit to help its clients accelerate process excellence.Moody's has downgraded IIFL Finance's CFR and senior secured debt rating to B2 from B1 and changed the outlook to Stable from 'rating under review'.Central Bank of India’s board has approved allotment of 16.58 crore shares aggregating to qualified institutional buyers.According to the transaction auditor Grant Thornton report, fraudulent transactions worth Rs 12,705.53 crore took place at DHFL during FY17 to FY19.Symphony has launched universal packaged air-coolers for industrial and commercial applications.Balaji Telefilms board has approved the liquidation of its subsidiary Chhayabani Balaji Entertainment.Anuh Pharma has received approval from WHO - Geneva Prequalification for Pyrimethamine API.UTI Asset Management Company, Mazagon Dock Shipbuilders and Likhita Infrastructure IPOs open for subscription today. -
Top Things To Know Today Morning:
The Indian stock market is expected to open in the green.Oil edges lower as rising virus cases cloud demand recovery outlook.RBI is likely to keep interest rates unchanged.Centre violates GST compensation law, says CAG report.India's economy to experience record contraction in 2020-21: S&PIndia's crude steel output falls over 4% to 8.48 MT in August.India's forex reserves up by $3.378 billion to record $545.038 billion.Stock Specific News:
Harley Davidson and Hero MotoCorp are likely to sign a distribution partnership in the coming days, said sources.JSW Solar has received a Letter of Award for total blended wind capacity of 810 MW.Central Bank of India closed its QIP by raising Rs 255 crore, sets issue price at Rs 15.38 per share.CEAT board has approved raising up to Rs 250 crore via NCDs.SBI Funds Management has increased stake in Cummins India to 7 percent.Ajanta Pharma's promoter Aayush M Agrawal has created a pledge on 30,000 shares.Lakshmi Vilas Bank said that its Liquidity Coverage Ratio is currently at 262% as compared to a minimum 100% required by the RBI.Reliance Retail gets subscription amount of Rs 7,500 crore from Silver Lake for 1.75% stake.NALCO has signed an agreement with Numaligarh refinery for long-term supply of CP Coke to ensure raw material security.Thomas Cook has withdrawn the proposal of share buyback due to Covid-19. -
Top Things To Know Today Morning:
The Indian stock market is expected to open in the green.Oil steady as market eyes coronavirus hit to demand.Centre extends suspension of proceedings under IBC by 3 months.US weekly jobless claims unexpectedly rise.Social security code is expected to revamp the growing gig economy.India Ratings maintains negative outlook on NBFCs, HFCs for H2 FY21.Indian banking system will be one of the slowest to recover: S&PBanks sanction loans worth Rs 1.77 lakh crore to 44 lakh MSMEs under credit guarantee plan.Stock Specific News:
TCS has bagged an order from fashion apparel retailer Maurices for digital services.Mahindra & Mahindra has increased its stake in Sampo Rosenlew to 74.97 percent.ONGC will soon resume operations in the Hazira plant after the fire.Marico has divested its entire stake in the fitness app Revofit.RITES has received a turnkey contract for Rs 205.85 crore.Nippon Life has received a joint mandate to manage Post Office Life Insurance Fund and Rural Post Office Life Insurance Fund for 3 years.RBI has imposed a penalty of Rs 5 lakh on Shriram City Union Finance.HUDCO has achieved loan sanctions of Rs 2,607.12 crore and loan releases of Rs 3,277.04 crore.IRB Infra Developers has received a completion certificate for the Yedeshi Aurangabad BOT project.CARE Ratings has downgraded long-term bank facilities of Sadbhav Engineering to CARE BBB+ from CARE A-. -
Top Things To Know Today Morning:
The Indian stock market is expected to open gap-down following weak global cues.Oil edges higher after U.S. crude, fuel stockpiles draw down.SEBI gives more time to trustees to appoint dedicated officer.Fed policymakers vow to keep interest rates near zero, call for more fiscal help.RBI discussion paper suggests 'sticky' food prices may be key to deciding policy rates.BSE to launch auto cancellation feature to prevent trade reversals in exclusive stocks.Stock Specific News:
HDFC seeks to raise Rs 5,000 crore via private placement of bonds.Dr Reddy’s Laboratories has received USFDA's nod for Cinacalcet Hydrochloride.Zydus Wellness has launched QIP with a floor price of Rs 1,775.85 per share.Future Consumer's 36.6 lakh pledged equity shares have been invoked.IRCON International has secured work orders valuing over Rs 400 crore from the Ministry of Railways.IIFL Securities has increased its stake in Trendlyne to 20.55 percent.Datamatics Global Services has announced the expansion of its distribution agreement with Ingram Micro.Tata Sons bought shares of Tata Chemicals and Tata Motors DVR through open market transactions.Angel Broking IPO was subscribed 1.46 times on the second day of bidding. -
Top Things To Know Today Morning:
The Indian market is likely to open on a flat note.Oil falls after surprise rise in U.S. crude inventories.Japan factory activity struggles to recover as output falls.Shapoorji Pallonji Group calls separation from Tatas ‘necessary’.India's current account to register temporary surplus of $30 billion in FY21: ICRAMF investors to get units only when schemes receive the funds.Serum Institute of India begins manufacture of Codagenix's nasal COVID-19 vaccine candidate.U.K. Prime Minister Boris Johnson announced new restructions that are likely to last six months.Stock Specific News:
CAMS IPO was subscribed 1.93 times, while Chemcon Speciality Chemicals IPO was subscribed 12.65 times on the second day of the bidding process.Angel Broking IPO: Issue subscribed 77% on Day 1.Indian Oil Corporation board has approved the implementation of the Petrochemical and Lube Integration Project at IOC's Gujarat Refinery.ICRA has assigned a "stable" outlook on the bank facilities and NCDs of Jindal Steel and Power.The QIP of Central Bank of India has opened with the floor price set at Rs 16.18 per share.SEBI has imposed a penalty of Rs 1 crore on ICRA and CARE Ratings each in the IL&FS debt rating case.Tata Power has signed a power purchase agreement with Apollo Gleneagles Hospitals, Kolkata to commission a solar carport in the city.MCX exchange has announced the formal launch of its base metal futures indices called MCX iComdex Base Metals Index Futures from October 19. -
Top Things To Know Today Morning:
The Indian stock market is expected to open flat-to-positive.Oil prices plunged more than 4 percent on Monday.Government hikes MSPs for all mandated Rabi crops.India government bonds miss out on JP Morgan index inclusion.SEBI revises guidelines for writing off securities by FPIs.SEBI puts in place framework to handle near zero, negative prices in commodity futures.Indian steelmakers turn net exporters to China in April-August: CRISILUS FinCEN names 26 Indian banks partaking in dubious transactions: ReportSBI outlines rules for restructuring corporate loansStock Specific News:
State Bank of India board has approved allotment of debentures worth Rs 7,000 crore.Jindal Steel & Power has clarified on reports of certain transactions undertaken between 2014-16.ICRA has reaffirmed long-term credit rating for Ramco Cements at AA+/Stable.CEAT board will consider raising funds via NCDs on September 25.Shree Renuka Sugars has approved the allotment of 21.16 crore equity shares at Rs 8.74 per share.HSIL has approved buyback of up to Rs 70 crore worth of shares at Rs 105 per share.Aarti Drugs has set the record date for the bonus issue on October 1.CARE Ratings has reaffirmed the Phillips Carbon Black's long-term credit rating at AA-/Stable. -
Top Things To Know Today Morning:
The Indian stock market is expected to open lower.Oil prices slip on potential Libyan oil return.Rajya Sabha passes amendment in Insolvency and Bankruptcy Code.RBI on possible pile-up in NPAs.India Inc's business sentiment recovers in July-September.5% import duty on open cell used in TV manufacturing from October 1.PSBs report frauds worth over Rs 19,964 crore in the first quarter of FY21.Stricter surveillance measures to tackle market volatility to be in force until October 29.21 states accept Rs 97,000 crore borrowing proposal to meet GST shortfall.India's forex reserves down by $353 million to $541.66 billion.Stock Specific News:
Route Mobile to list on the bourses today.CAMS and Chemcon Speciality Chemicals Ltd will open for subscription today.RITES board approves share buyback at Rs 265 per share.IRCTC is set to start 20 pairs of clone special trains from today on specific routes.National Housing Bank imposes a penalty of Rs 20,000 on Reliance Home Finance.Future Enterprises defaulted in payment of commercial papers worth Rs 90 crore.MRPL shareholders give nod to raise Rs 5,000 crore through NCDs.South Indian Bank reduces base rate by 10 basis points to 9.75%..HCL Technologies has announced intent to acquire leading Australian I.T. solutions company DWS Ltd. -
Top Things To Know Today Morning:
The Indian stock market is expected to open flatBrent oil futures extended their gains to trade up 2.3 percent at $43.21 a barrelRBI announces OMO purchase of government securities worth Rs 10,000 croreDirectorate General of Trade on anti-dumping dutyBank of England eyes negative interest ratesJapan's August consumer prices fall at fastest pace in four yearsGold falls after US Fed dampens hopes for more stimulusSEBI says same-day NAV can be availed only after funds realisedSBI ATM cash withdrawal new rules from todayStock Specific News:
The government has permitted FDI of up to 74 percent under automatic route in the defence sector.Vodafone Idea has told the telecom regulator that it is dropping the contentious faster data speed claim as part of priority offering and is in the process of filing a revised plan.Vedanta Resources has approached the market regulator Sebi for necessary approvals to start the reverse book building process for the delisting of Vedanta Ltd.Dr Reddy's Laboratories has settled patent litigation for Revlimid with Celgene, a Bristol Myers Squibb Company, which allowed the company to sell Lenalidomide in the US post March 2022.Hindustan Zinc has proposed to raise up to Rs 4,000 crore via debentures.Sterling and Wilson Solar has received an order worth Rs 460 crore in Chile.EIH has set rights share issue price at Rs 65 per share. Shareholders will receive eight rights shares for every 85 shares held. -
Top Things To Know Today Morning:
The Indian stock market is expected to open in the red following weak global cuesOil up more than 4% as U.S. stockpiles fall, hurricane hits outputFed touts economic recovery, vows to keep interest rates lowIndian airlines seek $1.5 billion interest-free credit line from governmentUS retail sales see modest gain, auto sales sluggishAsset under management of ETFs tracking Nifty crosses Rs 1 lakh croreStock Specific News:
Happiest Minds Technologies to list on exchanges today.HCL Technologies and Google Cloud expanded partnership to deliver accelerated business intelligence platform.ICICI Bank board has approved a proposal to resume seeking approval from the RBI for the appointment of Sandeep Batra as its whole-time director for five years.SpiceJet has launched 14 cargo flights to Northeast India.Bandhan Bank has created a new vertical called Emerging Entrepreneurs Business (EEB) to focus on small businesses and has appointed Kumar Ashish as Executive President and Head of the department.Tata Teleservices (Maharashtra) shareholders have approved raising of up to Rs 5,000 crore by issuing preferential shares to parent firm and non-convertible debentures on a private placement basis.CAMS, Chemcon Specialty Chemicals IPOs to hit market on September 21. -
Top Things To Know Today:
The Indian stock market is expected to open flat following mixed Asian cues.Oil gains as hurricane shuts U.S. output, stockpiles fall.Penalty on non-collection of margins to resume today.No insolvency proceeding for Covid-related default, Sitharaman places Bill in Rajya Sabha.LTCG exemption, lower tax for domestic investors to boost startup ecosystem.RBI issues draft rupee interest rate derivatives.India's August exports fall 12.66%, imports contract 26%; trade deficit narrows to $6.77 billionMultiplex association appeals to govt to reopen cinemas.Stock Specific News:
US-based Essential Utilities has selected Infosys as a strategic partner to drive its digital transformation.Bharti Airtel has partnered with Sterlite Technologies to build a modern optical fibre network for Airtel across 10 telecom circles.Lakshmi Vilas Bank has completed mutual due diligence on merger with Clix Capital Deal and both the parties are in discussions on the next steps.SpiceJet has reported a loss of Rs 600.5 crore in Q1FY21 as against a profit of Rs 262.8 crore, YoY.REC will infuse Rs 150 crore as equity in a Joint Venture along with PFC, PGC and NTPC.Reliance Industries market capitalisation now bigger than all PSUs put together. -
Top Things To Know Today:
The Indian stock market is expected to open on a cautious note following global cuesOil prices slipped slightly on Monday amid concernsThe Rupee recovered 6 paise to end 73.47 against the US dollarBank credit grows by 5.49%, deposits by 10.92%India's retail inflation stood at 6.69% in AugustEPF withdrawals during lockdown at nearly Rs 40,000 croreGovernment has sought the Parliament's nod for additional cash expenditure of Rs 1.67 lakh croreStock Specific News:
ICIC Bank has got an exemption from paring stake in its life and non-life subsidiaries to 30 percent for a period of three years.Indiabulls Housing Finance board has approved the closure of QIP issue and approved the issue price at Rs 196.37 per share.SAIL reported a loss of Rs 1,226.5 crore in Q1FY21 as against a profit of Rs 102.7 crore.Central Bank of India has reduced its marginal cost of funds-based lending rates (MCLR) by 5 bps across all tenors.Mindspace Business Parks REIT will raise up to Rs 500 crore via NCDs.PVR has reported a net loss of Rs 225.6 crore in Q1FY21 as against a profit of Rs 17.6 crore, YoY. -
Top Things To Know Today:
Indian stock market is expected to open in the green.Oil mixed as storm threatens US gulf production.India's industrial output for July contracts 10.4%.Sebi says mutual funds can merge multi-cap schemes, or re-position under different category.FPIs turn net sellers in September, pull out Rs 2,038 crore so far.RBI remains net purchaser of US dollar in July, buys $15.973 billion.42nd GST Council Meeting Likely To Be Postponed.Industrial Production Shrinks.Stock Specific News:
Bharti Airtel: Moody's has revised outlook to stable from negative.Deepak Fertilisers & Petrochemicals: Sets rights issue price at Rs 133 per share.Tata Motors: JLR sales are down 15.5% in August at 28,887 units. For Q1FY21, sales fell 42.4% to 74,067 units.Adani Green Energy: Deal to buy Essel's solar assets is in its final stages and the company is seeking $1.8 billion to build projects.Adani Enterprises: Adani Land Defence Systems & Technologies has acquired 51% stake in PLR Systems from Fouraces Systems.TTK Prestige: The company has launched a new category of steel casseroles and will be initially launched in North Indian markets. -
Top Things To Know Today:
Indian equity market is expected to open in the red.India, China foreign ministers agree to quickly disengage border troops.IMF: India needs fresh fiscal stimulus to tide over COVID-19 crisis.US weekly jobless claims stuck at higher levels.India rice prices hit an 18-month peak as coronavirus strains export logistics.Stock specific news:
Yes Bank says no merger plans with SBI, repays entire Rs 50,000 crore to RBI.The Rs 600-crore IPO of Route Mobile was subscribed more than 4x on Thursday, a day before its close.Suzuki Motor Corporation has increased its stake in Indian subsidiary Maruti Suzuki to 56.37 per cent by purchasing 2.84 lakh equity shares from the market.Info Edge is set to trade actively in today's session after Zomato's CEO said the firm was planning an IPO by the middle of the next year. -
Top headlines to know before the opening bell on September 10, 2020:
*) The Indian stock market is expected to open flat amid Indi-China border tensions. At 8:05 am, the SGX Nifty was trading 7.50 points or 0.07 percent lower at 11,298.50. Sensex and Nifty ended lower on Wednesday dragged by selling in banking and IT stocks amid negative global cues. The BSE Sensex was down 171.43 points at 38,193.92, while the Nifty declined 39.40 points to 11,278. According to pivot charts, the key support levels for the Nifty are placed at 11,209.4, followed by 11,140.8. If the index moves up, the key resistance levels to watch out for are 11,322.4 and 11,366.8.
*) Overnight, Wall Street's main indexes ended higher to snap a three-session losing skid as investors jumped back in to take advantage of the pullback in technology-related stocks. The Dow Jones Industrial Average rose 439.58 points, or 1.6 percent, to close at 27,940.47.
The S&P 500 gained 67.12 points, or 2.01 percent, to 3,398.96, and the Nasdaq Composite added 293.87 points, or 2.71 percent, to 11,141.56.
*) Oil futures fell in early trade on Thursday, on worries about fuel demand after data showed US crude stockpiles rose last week, rather than dropping as expected, and COVID-19 cases continued to rise around the world. US West Texas Intermediate (WTI) crude futures fell 20 cents, or 0.5 percent, to $37.85 a barrel. Brent crude futures dropped 14 cents, or 0.3 percent to $40.65 a barrel.
*) The rupee recovered by 5 paise to settle at 73.55 against the US dollar on Wednesday helped by forex inflows into equities. Forex traders said corporate dollar inflows supported the rupee and the focus will be on Reliance stake sales.
*) The government is planning to save about Rs 35,000 crore to help manage the fiscal load put by the PLI and PMP schemes. These savings will be achieved by the transition from MEIS to Remission of Duties and Taxes on Exported Products, which is likely to lead to Rs 3,08,624 crore in savings between FY21 and FY26.
*) Finance Minister Nirmala Sitharaman on Wednesday launched a doorstep banking services initiative by public sector banks.
This is part of Enhanced Access and Service Excellence reforms that the Department of Financial Services had undertaken in 2018.
*) Markets regulator Securities & Exchange Board of India decided to implement system-driven disclosures for members of the promoter group, directors and designated persons of a listed company.
The system-driven disclosures will pertain to trading in equity shares and equity derivative instruments — futures and options — of the listed company by such entities, Sebi said in a circular.
*) US employers advertised more jobs but hired fewer workers in July, sending mixed signals about the job market in the wake of the coronavirus outbreak. The Labour Department said Wednesday that the number of US job postings on the last day of July rose to 6.6 million from 6 million at the end of June. Hiring dropped to 5.8 million from 7 million in June. The number of Americans laid off or discharged fell to 1.7 million from nearly 2 million in June.
*) India's fuel demand fell 15.6 percent in August compared with the same month last year. Consumption of fuel totaled 14.39 million tones, according to the data from the Petroleum Planning and Analysis Cell of the oil ministry. Sales of gasoline, or petrol, were 7.5 percent lower from a year earlier at 2.38 million tones.
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Top headlines to know before the opening bell on September 9, 2020.
