Market Highlights

---

Get the latest Indian stock / share market highlights, BSE/NSE stock news, business research reports & details - updated daily by Money Times.

---

August 23, 2024

• INSTL. INVESTORS EQUITY DERIVAT. TRADES AS ON 22-08-2024 :
• FIIS F & O : RS. CRS. :
• TOTAL NET SELL : -24827
• INDEX FUT. : +607
• INDEX OPT. : -24001
• STOCK FUT. : -1943
• STOCK OPT. : +510
• SEC. IN F&O BAN FOR, 22 AUG, 2024 :
• 1. AARTIIND 2. ABFRL 3. CHAMBLFERT 4. BSOFT 5. GNFC 6. GRANULES 7. HINDCOPPER 8. INDIACEM 9. LICHSGFIN 10. NATIONALUM 11. PEL 12. SUNTV 13. RBLBK 14. IEX
• ADDITION : CHAMBLFERT, RBLBK, IEX
• DELETION : BALRAMCHIN
• INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 22-AUG-2024 :
• FIIS : BUY +1,372 (18,463-17,091)
• DIIS : BUY +2,972 (12,240-9,268)
• BSE SENSEX : +148 (81,053)
• NSE NIFTY : +41 (24,811)
• BSE MIDCAP. : +326 (48,644)
• BSE SMLCAP. : +262 (55,598)
• B. CRUDE : $ 76.73
• GOLD: $ 2,476=INR 73,200(10gr)
• SILVER : RS. 85,000 (kg)
• FOREX : RS. $ 83.96
• 7.10% GOI '34 : 6.8521% (101.7150)
• 7.18% GOI '33: 6.8854%(101.9450)
• 7.23% GOI '39: 6.9074% (102.93)
• News Headlines from Business News Agencies:
• Business Standard
• Steel sector's tech investment likely to hit $2.7 bn by 2030: Report
• Cement sector to invest Rs 1.25 trillion as capex by FY27: CRISIL
• Economic momentum remains intact, set to achieve 6.5-7% growth: FinMin
• Green energy push: B C Jindal to invest $2.5 billion for renewable foray
• Govt bans 156 fixed dose combination drugs over health risk concerns
• Disney-Reliance may need to dilute cricket dominance to seal merger deal
• Godrej & Boyce targets mkt share boost with battery-powered forklift truck
• FEMA tweaks: FPIs may switch to FDI after reaching 10% ownership cap
• Hindalco's ongoing expansions to entail $10 bn capex, says KM Birla
• Nokia joins hands with Axiom space for Nasa's human mission to moon
• No hybrid, our focus remains on petrol and electric: Audi India Head
• FSSAI directs food businesses to remove A1, A2 milk claims from products
• Economic Times
• RBI MPC Minutes: Food inflation pressures showing little signs of abatement, warns RBI
• Alkem arm ties up with Exactech for knee, hip replacement implants
• Excel Entertainment, Trigger Happy Studios ink multi-film deal
• IndoSpace to invest over Rs 580 crore to develop two logistics parks in Karnataka
• Walmart partners with Burger King to offer discounted deals to members
• Wipro Hydraulics opens Rs 250 cr manufacturing facility in Jaipur
• Finance Ministry's monthly economic review sees food inflation falling in coming months on rain bounty
• Gold loan market projected to double in 5 years to Rs 14.19 lakh crore: PwC India
• Macrotech Developers to launch Rs 11,980 cr worth properties by March amid strong housing demand
• US auto safety regulator closes probe into GM's Cruise robotaxis
• Kalpataru Projects International gets tax notice from GST Authority
• Mint
• GAIL, US-based Petron to form JV for bio-ethylene plant
• NMDC powers projects for better management to achieve 100 MT capacity
• GST: Infosys, foreign airlines, shipping lines may see relief, says report
• HC orders arbitration in Ashneer Grover-BharatPe confidentiality violation case
• Budget Carrier AirAsia Gets $443 Million Private Credit Funding
• Deutsche Bank sees €430 million gain on Postbank progress
• Dabur India to set up plant in Tamil Nadu with ₹400 crore investment
• Birla Fertility acquires BabyScience in ₹500-cr push for 100 IVF clinics by FY28
• RuPay to UPI credit, NPCI is planning a big recast of its businesses
• Drugs licence approval only if you show good manufacturing practices: DCGI
• India only APAC nation to log double-digit growth of FMCG, tech durables: Report
• Bernstein on RIL
• Outperform Call, Target Raised To Rs 3,440
• Growth Engine Led By Jio
• Raise Target Multiple For Jio Business
• Reliance Jio Continues To Focus On Monetisation With Recent Tariff Hike
• Focus On Monetisation For Reliance Jio With Completion Of 5G Roll Out
• Expect 16% Revenue CAGR / 20% EBITDA CAGR For Jio Over Next 3 Years
• Flow Through Of Tariff Hike For Jio Into FY25
• Market Share Gains Will Continue As Jio Reaches More Than 500 m Subscribers
• Market Share Gains Will Continue As Jio Reaches Nearly 47% Revenue Share By FY25
• CLSA on Reliance Ind
• Outperform Call, Target Rs 3,300
• Jio’s 5G Rollout Led To A 46% YoY Jump In Capex Which Drove Down Its Free Cash Flow
• Jio’s 5G Rollout Led To A 46% YoY Even As Its OPCF Surged 15% YoY
• Interest Capitalised Increased Notably YoY & RoCE Declined 60 bps YoY
• Jio’s Rate Of Depreciation Is Now More Comparable To Listed Telecom Peers
• Jio’s Network Costs Remain Notably Higher Than Peers
• Next Leg Of Growth To Come From 5G Monetisation And Broadband Ramp-up
• Citi on Dr Lal PathLabs
• Sell Call, Target Rs 2,700
• Improvement In Mix (Tests + Swasthfit) To Help In Achieving Better Than Industry Growth
• Geographic Expansion To Help In Achieving Better Than Industry Growth
• There Is No Intention To Take Price Increases In Near-term
• Operating Leverage, Better Efficiencies Will Help In Margin Stability
• Competition Continue To Be There But Irrationality Has Come Down
• There Is A Renewed Focus Towards International Markets
• MS on Paytm
• Equal-Weight Call, Target Rs 500
• Sale Of Entertainment Ticketing Biz, If Executed, Would Be A Net Positive In Our View
• Sale Of Entertainment Ticketing Biz Will Strengthen Its Balance Sheet
• Drive Tighter Focus On Its Core Payment And Financial Distribution Businesses
• Citi on Zomato
• Buy Call, Target Raised To Rs 300
• View Acquisition Of Paytm’s Entertainment Ticketing Biz Moderately Positively
• Co’s Own ‘Going Out’ Vertical Has Had Higher Growth Vs Acquired Biz
• Focus Will Be Likely On Gaining Segment Market Share Given Growth And Margin Guidance
• MS on Zomato
• OW, TP Rs 278
• Acquisition of Paytm's Entertainment Ticketing Unit
• View this proposed transaction as +ve & believe that there could be upside risks to our adjusted EBITDA forecasts for F2027 & beyond if execution in this segment remains strong
• UBS on TVS Motors
• Buy Call, Target Raised To Rs 3,200
• New Jupiter Is A Significant Upgrade Over Old Model & Peers, At Similar Price
• Believe The Launch Can Further Aid 15,000-20,000 Additional Volumes
• Co Is Expected To Launch A Brand New E-2W & Foray Into E3W Category In Next Few Months
• New Launches Offer Further Catalysts
• Bernstein On AMCs
• Like long-term growth prospects & business models for Indian asset management industry
• Think industry benefits from penetration-led growth & shifting household savings behavior
• O-P, HDFC AMC – TP Rs 4950
• Market Perform - Nippon AMC, TP Rs 680
• Current Behavioral Scenario
• Fund managers are worried,
• Advisors are Cautious
• And Investors are Confident
• Nifty closed @24,811.50 (+41.30) and Sensex @81,053.19 (+147.89) on Thursday GIFT Nifty was trading at 24,843 (as of 7:30 am)
• FIIs net bought equities in cash to the tune of Rs 1,372 cr whereas DIIs bought equities in cash worth Rs 2,972 cr on August 21 2024
• HDFC Bank rejects MUFG's $2 bn cheque for 20% stake in HDB Financial Services
• Infy some global firms likely to get GST relief
• New F&O norms likely by October, no changes expected from SEBI draft
• "Complex and expensive" further tranches of SGB unlikely
• Adani Group looks to sell up to 5% stake in Adani Power, Ambuja Cements
• Wipro Hydraulics opens Rs.250 cr manufacturing facility in Jaipur
• Zomato shuts down intercity ' services with immediate effect
• Adani Power gets NCLT’s nod to acquire Lanco Amarkantak Power for Rs 4,101 crore
• Wipro secures IT modernisation deal with John Lewis Partnership
• Livpure raises Rs 208 crore from M&G Investments and Rs 25 crore from Ncubate Capital Partners
• Electronics parts makers may get Rs 40,000 cr sops
• Nucleus Software to buy back shares worth Rs 74.36 Crore
• Edelweiss promoters divest some holdings in Nuvama Wealth to comply with shareholding norms
• Harindarpal Singh Banga to sell 1.4% stake in Nykaa for Rs 809 crore
• Singapore Government buys 0.63% stake in PNB Housing Finance
• Genesys International likely to bag orders worth Rs 200 crore from automakers
• GAIL, Petron sign pact to explore setting up bio ethylene plant in India
• Banijay acquires India adaptation rights of five shows from Sony Pictures
• Indian ADRs: Wipro (-1.9%), Dr Reddy's (-1.9%) and Infosys (-1.0%)