Tuesday, 29 September 2020

30th September, 2020 Morning Brief

Market will open on a positive note today after a range bound session.

Nirmala Sitharaman giving hopes that Govt could give one more stimulus if necessary after analysing economy which may boost the sentiment ahead of RBI Monetary Policy. 

Asian markets are drifting lower amid a flurry of data awaited from China. Overnight trade in the U.S. took place on lower volumes.

Wall Street closed lower on Tuesday, snapping a three-day winning streak as investors took money off the table hours before the first U.S. presidential debate.

The Dow Jones Industrial Average fell 131.4 points, or 0.48%, to 27,452.66, the S&P 500 lost 16.13 points, or 0.48%, to 3,335.47 and the Nasdaq Composite dropped 32.28 points, or 0.29%, to 11,085.25.

IPO Updates 
🎯 Mazagon Dock Shipbuilders: Overall subscription at 2.09 times.
🎯 Likhitha Infra: Overall subscription at 1.01 times.
🎯 UTI AMC Overall subscription at 0.27 times.

🎯 Aarti Drugs : Ex-Date Bonus date (bonus 3:1).

🎯 Indiabulls Housing Finance : Launches buyback of all its bonds maturing in the next 12 months. The company has further sold a portion of its stake in OakNorth Holdings.

🎯 BPCL :
Rosneft and Saudi Aramco are unlikely to bid in the company's privatisation. Source ET. 

🎯 NHPC : Signs MoU with the Power Ministry, detailing targets for the year 2020-21. The generation target has been set at 27,500 million units as against 26,000 units the previous year.

🎯 GHCL : CCI approves de-merger of the company's textile business into its wholly-owned arm GHCL Textiles.

🎯 BASF India : Has received a revised tax notice from the Karnataka government worth Rs 85.77 crore from Rs 82.74 crore earlier.

🎯 HDFC : NCLT Mumbai has sanctioned the scheme of amalgamation for merger of HDFC ERGO Health Insurance with and into HDFC ERGO.

🎯 Future Enterprises : Has defaulted in payment of interest on NCDs worth Rs 16.11 crore which was due on September 27.

🎯 Welspun Corp : Company received multiple orders of approximately 147 KMT valuing close to Rs 1,400 crore.   

🎯 Welspun Corp : Promoter Balkrishan Goenka acquired 19 lakh shares between September 25-28. Positive for the stock. 👍 

🎯 IRB : 
Promoter Virendra Dattatraya Mhaiskar acquired 25 lakh shares between September 25-29. 
Positive for the stock. 👍 

🎯 Max India : Promoter Max Ventures Investment Holdings released pledge of 8.5 lakh shares on September 25. 
Positive for the stock. 👍 

🎯 HFCL : Promoter entity MN Ventures acquired 35 lakh equity shares via open market in company. Positive for the stock. Positive for the stock. 👍 

🎯 Zee Media Corporation : Promoter entity ARM Infra & Utilities sold 8 lakh shares in company, reducing stake to 12.20 percent and 25FPS Media offloaded 2.08 percent stake. 
Negative for the stock. 

🎯 Zee Learn : Promoter entity Asian Satellite Broadcast sold 2.85 % stake in company. 
Negative for the stock. 

🎯 IRB : Virendra Dattatraya Mhaiskar bought 19 lakh shares in company at Rs 114.45 per share on the NSE. 
Positive for the stock. 👍

🎯 Sumitomo Chemical India : Promoter entity Sumitomo Chemical Company to sell up to 1,64,83,654 equity shares in company on September 30 and October 1.
Negative for the stock. 

🎯 Emami : Promoter entity Diwakar Viniyog Pvt Ltd & Others released 58,06,431 pledged shares. Positive for the stock. 👍 

🎯 Ajanta Pharma : Promoter Aayush M Agrawal, Trustee Aayush Agrawal Trust created a pledge on additional 1.3 lakh shares.
Negative for the stock.
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Edited by Sharp. 

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