News & Impact
Focus Today – (Trend positive – Gift Nifty is up 74 points or 0.3%. US Index Future trades flat to
positive. US Stocks Rise up to 1.3% as US Dollar Index fell to 1-year low at below 102 level.) – Brent
Crude dropped to 1-month low at below $78 after Israel Gaza Cease-Fire – reduce geo-political tension.
Zomato Block deal at 5% discount at Rs251.68 a share. Technically, Nifty is holding above 24500 level is
a positive sign to further upside. Positive for metal stocks as copper, Zinc and Alluvium price surged to
1-month high and falling oil price will be positive for oil marketing stocks. ADR/GDR – Dr Reddy,
Infosys and Wipro gained by 1.3% each. Tata Steel gained 4.5%. Gail gained 3.5%.
Today’s Market Outlook – Rally in the global markets, the U.S. Dollar Index has fallen to a one-
year low, dropping below the 102 level, while Brent crude prices have reached a one -month low due to
the recent cease-fire between Israel and Gaza. This optimism may lead to a positive opening for domestic
markets. Markets in the U.S., Asia, and Europe have surged by over 1% each, driven by expectations that
the Federal Reserve will soon signal its readiness to start lowering interest rates. The S&P 500 has seen
an eighth consecutive day of gains, marking its longest winning streak of 2024. Investors are now
focusing on the Federal Reserve’s annual meeting in Jackson Hole, where Chairman Jerome Powell will
speak on Friday, and the release of the meeting minutes on Wednesday. These events are anticipated to
provide crucial insights into future interest rate policies. The Nifty is up by 70 points or 0.3%, although it
ended flat in yesterday’s range-bound market.
Domestic market outlook – Compared to global markets, domestic markets have not yet fully
participated in the rally. The Nasdaq Composite has surged by 6.5% over the past six trading sessions,
while the Nifty has gained just 1% during the same period. The global market rally, strong quarterly
results, increased retail participation, and falling oil prices are likely to positively impact market
sentiment. Metal stocks may benefit as copper, zinc, and aluminum prices have risen to one-month highs
due to the declining Dollar Index and anticipation of a U.S. rate cut, which could boost global demand.
Oil marketing stocks such as HPCL, BPCL, and IOC may also see positive movement due to Brent Crude
prices dropping to nearly a two-month low of $77 per barrel. The strong performance of global IT indices
suggests that IT stocks could continue to rise.
Gold – . Gold was steady near a record high before a hotly anticipated speech by Federal Reserve
Chair Jerome Powell later in the week, which may offer clues on how rapidly the central bank will cut
interest rates. Bullion traded near $2,500 an ounce after reaching an all-time high on Monday.
Brent Crude –Oil held the biggest drop in more than two weeks as the US said Israel accepted a
cease-fire proposal to halt the war in Gaza, potentially easing supply risks as concerns about the demand
outlook mount. Brent crude traded below $78 a barrel after shedding 2.5% on Monday,
Nifty Technical Levels –Nifty has formed a small bodied bearish candle on daily frame with longer
lower shadow indicating small declines are being absorbed swiftly. It has decisively come out its range of
the last nine sessions and managed to close above 24550 zones with gains of around 30 points. Now it has
to continue to hold above 24500 zones for an up move towards 24700 then 24900 levels while support is
seen at 24450 then 24200 zones
Bank Nifty Technical Levels –Bank Nifty formed a small bearish candle on daily scale and is
finding some pause near its 50 DEMA however multiple supports are intact at lower zones. Now it has to
continue to hold above 50250 zones for a bounce towards 50750 then 51000 levels while support is seen
at 50250 then 50000 zones.
Previous Day Market Summary – The equity benchmark index ended the day nearly flat, trading
within a narrow range as the market awaited the release of the U.S. Federal Reserve’s meeting minutes on
Wednesday and Fed Chair Jerome Powell’s speech at the Jackson Hole Economic Symposium on Friday.
Both events are expected to provide key insights into future interest rate policy. Despite the overall
market’s cautious stance, there was notable stock-specific action. IT, metal, sugar, pharma, and exchange-
related stocks saw strong gains. The Sensex dipped slightly by 12 points, or 0.1%, to close at 80,424.68,
after hitting an intraday high of 80,724 and a low of 80,332. Meanwhile, the Nifty inched up 31 points, or
0.1%, to close at 24,572. In global markets, European indices opened slightly positive, while Asian
markets showed mixed performance. FIIs were net sellers Rs2667cr while DIIs were net buyers Rs1803cr
Actionable BUY –BEML, Crompton Greaves Consumers, Shriram Finance, Kfin Tech, Suzlon,
Bikaji, BSE LTD, Hindustan Aeronautics, Sunteck Realty, Mishra Dharu
Major Event today – Hindustan Zinc Board meeting for dividend.
IPO Update – Interarch Building IPO Subscribed 2.21 Times On Day 1
Corporate Action –– Aia engineering Rs 16 and buyback, Apar industries Rs51, Balkrishna
industries Rs4, Century enka Rs10, Jk paper Rs5, Dr. Lal PathLabs Rs6, National Peroxide Rs12.5,
Omnitex industries Rs8, The Phoenix Mills Rs5, PI Industries Rs9, PVV Infra Bonus 1:1, Ratnamani
metals & tubes Rs14, sangvi movers Rs6, Sun tv network Rs5.
Brokers Radar – Reliance TGT by Jefferies at 3530 from 3580. TCS TGT by Macquarie at 5740
from 4750. M&M TGT by Citi at 3180 from 3340. Macquarie TGT on M&M at 3280
Global Data Today – US – Non-Manufacturing Activities. Producer Price Index (Germany). China –
5-year loan prime rate, 1-year loan prime rate.
Market Summary – IndusInd Bank Receives RBI Approval For Mutual Fund Business. Antfin Seeks
$408mn or 1.54% equity in Zomato block trade. Metal stocks focus the government bets of Anti-
Dumping Probe Expansion. BPCL to Invest $20.3bn in 5-year on expansion. Vedanta Cuts Hindustan
Zinc Shareholding to 63.42% through OFS
Mishra Dhatu – Company has secured an order of Rs 285 crore. With this order, the order position of
the company stands at Rs 2098 crore. – positive
Zomato block trade – Antfin Singapore Holding Pte. offers about 13.6cr shares or 1.54% equity in
Zomato today. Floor price has been set at Rs251.68 per share, a 4% discount to the stock’s last close.
Antfin Singapore Holding Pte currently is holding about 37.3cr share of Zomato – Long term buying
opportunity.
HPCL, BPCL, IOC – A consortium comprising Indian Oil, Hindustan Petroleum and Bharat
Petroleum is in talks with Equinor to secure long-term contracts for liquefied petroleum gas, Mint reports
– Positive
Tata Motors: The company sets Sept. 1 as the record date for determining shareholders eligible for
DVR share swaps – Positive
IndusInd Bank: The bank received the RBI’s nod for undertaking mutual fund business via a new
subsidiary. – Positive
HCL Technologies: Shiv Walia will replace Prateek Aggarwal as the chief financial officer, effective
Sept. 6. – Long term positive
Hazoor Multi Projects: The company emerged as the lowest bidder for Maharashtra State Infra
Development Corp.’s project worth Rs 274 crore.- positive
Poly Medicure: The company opened its qualified institutional placement and set the floor price at
Rs 1,880.69 per share.
Sequent Scientific: The company received prequalification approval from the World Health
Organisation for albendazole, an active pharmaceutical ingredient. – positive
Hi-Tech Pipes: The company approved raising Rs 600 crore via QIP or other means.- positive
Olectra Greentech: The company’s stake in a special purpose vehicle for executing a MSRTC
contract falls to 1% from the initial 34% – long term positive
Metal stocks focus the government bets of Anti-Dumping Probe Expansion – Media reported that
the government will extend its recently launched investigation of Vietnam’s alleged dumping of the
product to other countries.- Expects positive for Tata Steel, SAIL, Jindal Steel, National Aluminum.
BPCL – Company plans to invest Rs1.7tn ($20.3 billion) over the next five years to expand its
refining, petrochemicals, gas and green energy businesses, according to Chairman G. Krishnakumar.-
Long term positive
Caplin Point – Brazilian health regulatory agency Anvisa completed an inspection of the company’s
southern India-based factory. The inspection concluded with zero observations. Anvisa inspected Caplin’s
sterile injectable and ophthalmic manufacturing facility located at Gummidipoondi in Tamil Nadu –
positive
Vedanta – Copmpany’s shareholding in its subsidiary Hindustan Zinc fell to 63.42% after it offloaded
a 1.51% stake through an offer for sale. The company sold 6.36 crore shares on Aug. 16 and Aug. 19 –
expects long term positive on Vedanta as OFS proceeds to repay its debt.
Aurobindo Pharma to start production at Chinese facility From Q3, Says CFO – Company will begin
production at its China facility in the next quarter, with full-scale output projected to start in the following
fiscal year, according to Chief Financial Officer Santhanam Subramanian.- positive
BEML – Yesterday, shares of BEML intra-day surged almost 7% after the government cleared a
major metro rail project in Bangalore and Thane.- Positive
Wonder Electricals – Company will hold a meeting of the Board of Directors of the Company on 22
August 2024 for stock split – positive
TVS Motor – Company plans to expand its electric vehicle (EV) sales to both developing and
developed markets, with a focus on making India a major export hub for electric two-wheelers. – positive
Jubilant Pharmova – Company announced that its subsidiary Jubilant Biosys Ltd, through Jubilant
Biosys Innovative Research will acquire an 80% stake in Pierre Fabre Lab Centre in Saint Julien, France.
The transaction, estimated at around €4.4 Million over two years – Positive
Strides Ltd– Company received an establishment inspection report with “voluntary action indicated”
by the US FDA for its formulations facility at Alathur in Chennai – Positive
Glenmark Pharma – Company said its US-based subsidiary Glenmark Therapeutics has launched
Olopatadine Hydrochloride Ophthalmic Solution USP, 0.1% (OTC), which is used to treat eye allergy, in
the United States – positive
NBCC – company told analysts it expects its order book to grow to 1 trillion rupees ($12 billion) by
the “end of the year.” – positive
HDFC Bank – HDFC Credila Financial Services will soon start meeting banks to finalize the
syndicate for an IPO of around $500m, IFR reports
GMR Infra – Company reported a 7.7% YoY increase in total passenger traffic, reaching 1.06 crore
passengers. Domestic traffic grew by 7.1% YoY, while international traffic saw a 9.3% increase – positive
Zen Technologies – A key player in the defense simulation and technology industry, proudly
announces the recent Patent Grant in India for its revolutionary “Mine Detection System”.- positive
Ishan International – Company gets Rs60cr order from Reliance Industries – positive
DCX Systems – Company won orders worth Rs107.09cr both domestic and international – positive
July Airlines market share – IndiGo’s domestic passenger market share rose to 62% in July from
60.8% in June, according to the Directorate General of Civil Aviation. SpiceJet’s local passenger market
share fell to 3.1% from 3.8% in June.
Veranda Learning Solutions – Company forayed into Middle East via popular brand JK Shah
Classes. The company is in pact with Jumeira University Connect for CA preparation course for UAE
students.
Nucleus Software – Company to mull share buy-back on August 22 board meeting – Positive
Sealmatic India – The Company announce that it has been granted renewal of certification from the
Ministry of Science and Technology for its facilities under Certification:.The recognition from the
Ministry of Science and Technology marks a significant milestone in the journey of Sealmatic. With this
recognition, Sealmatic is well positioned to continue its growth and innovation, contributing to the
advancement of technology not only in India but also on the global stage. – positive
Gokaldas Exports – Company has decided to put its plan to build a garments factory in Bangladesh
on hold as the nation continues to face political turmoil – Positive
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