News and Global Index updates.

🌹 🌞Good Morning 🌞🌹

*SGX Nifty -60 pts (17439) from last trade 17499 ,*  

Nikkei -324 pts , 

Hangseng -13 pts , 

Now @6.52am . 

Dow -643.13 pts ,

Nsdq -323.64 pts, 

S&P -90.49 pts, 

Bovespa -995 pts , 

Ftse -16 pts , 

Dax -313 pts , 

Cac -117 pts , 

Crude @ $90.23 brl (-0.00), 

Brent @ $96.48 brl (-0.00) , 

Gold @ 1748.70 (+0.30), 

Silver @ $18.835 (-0.04), 

Euro @ $0.9938, 

JPY @ $137.55,  

INR @ 79.855 

*Today's Corporate Action*

*23rd Aug Ex Date*

NR Retail Ltd

Right Issue of Equity Shares

JK PAPER LTD

Final Dividend - Rs. - 5.5000

Jubilant Ingrevia Ltd

Final Dividend - Rs. - 2.5000

Shyam Century Ferrous Ltd

Interim Dividend - Rs. - 0.3000

SUN TV NETWORK LTD.

Interim Dividend - Rs. - 5.0000

*Today's Key Results/Board Meetings*

*23-Aug-22*

Can Fin Homes: Officials of the company will attend ICICI Securities 'Bengaluru Corporate Day'. 

IIFL Finance: Officials of the company will meet Mirae Asset. 

Zydus Wellness, Aarti Industries: Officials of companies will attend DART India Annual Conference 2022 "The Challenge of Change". 

Lemon Tree Hotels: Officials of the company will be participating in the corporate roadshow in Singapore organized by Motilal Oswal Securities. 

HealthCare Global Enterprises: Officials of the company will meet investors and analysts. 

Aptus Value Housing Finance India: Officials of the company will meet Uluwatu Capital. 

Infibeam Avenues: Officials of the company will meet Locus Investment Group. 

CMS Info Systems, RateGain Travel Technologies, PVR: Officials of companies will attend DAM Capital: Virtual MidCap Investor Conference 2022. 

Tata Consumer Products: Officials of the company will be participating in ICICI Securities Bengaluru Conference. 

Supreme Industries: Officials of the company will meet several investors and fund houses. 

Metro Brands: Officials of the company will meet ICICI Prudential Life. 

Cera Sanitaryware: Officials of the company will meet Yes Securities Conference.

*Stock under F&O ban on NSE*

*23-Aug-22*

1TATACHEM

*************************************

*GLOBAL CUES:*

 HEADWINDS GALORE! 

Dollar, Bond yields and Crude all higher 

Dollar Index very close to 52 week high 

Bond yields in US cross the 3% threshold 

Brent crude crosses $97/bbl mark 

Big question: Will Nifty take support at 20 DMA of 17,340? 

 

 *TRADE SETUP* 

Fear factor is back, US Volatility Index up 16% 

Nifty sitting at 33% retracement of June-Aug rally 

Any bounce on Nifty must sustain above 17,465 

Close below 17,465 opens 20 DMA of 17,340 

50% retracement of current rally at 17,220 

FIIs have sold in 2 out of last 3 days 

Bank Nifty has led the fall which is a big negative 

Bank Nifty’s level to watch: 20 DMA zone of 37,950-38,050 

US market showing classical sign of end of bear mkt rally 

Indian market has been stronger than most 

A close below 17,220 would confirm fresh downtrend.

♦️News and Impact♦️

 

·       Expects market to open on a weak note on account of sharp decline across the global market. Dow Jones slipped by 2% or 650 points and Nasdaq Composite nosedived nearly 3%, one of the biggest fall since last few weeks. Sentiment has been dampening after the US Federal Reserve officials reiterated their commitment to tighter monetary settings to curb inflation. Expectation that the US Fed to hike interest rate by 75bps in the September policy meeting. US 10-Year Bond Yield surged over 1-month high to close at above 3%, US Dollar Index closed 2-year high at109 and US Volatility Index (CBOE US Vix) climbed up by 15%. Asian and European markets declined between 1-2% as some Federal Reserve officials took a hawkish stance, signaling interest rates will rise further to contain price pressures. SGX Nifty slipped by half percent or 70 points while US Future gained nearly quarter percent. Back home, traders avoid bargain hunting till the clear trend emerges on account of global market weakness. Expectation of higher intra-day volatility in the market ahead of August series F&O expiry this week However, long term  bullish sentiment in the local markets due to soft Brent crude price, above normal monsoon (9% above normal) and impressive quarterly results announcement. Tech stocks may negative on account of sharp decline tech major Index Nasdaq Composite and rising US Bond Yield. 

 

·       US stocks sank with technology companies leading the selloff as investors await signals on the path of interest-rate hikes at the Federal Reserve’s annual Jackson Hole economic symposium later this week. Dow Jones and S&P 500 declined 2% each while Nasdaq Composite nosedived 3%.

 

·       Asian markets declined after worries about Federal Reserve monetary tightening saddled US shares with their worst drop in two months while boosting bond yields and the dollar. Bourses in Japan, Australia, Taiwan and South Korea Index declined half to one percent.

 

·       European shares closed Monday heavily on growing fears that central bank efforts to tame rising consumer prices with inflation-busting interest-rate hikes will weaken the global economy and lead to a recession. Both Germany and France Index slipped over 2% each while UK Index shed quarter percent.

 

·       Brent spiked 6% to $97/bbl after Saudi Arabia said OPEC+ may be forced to cut production to stabilize a volatile market.

 

·       Gold traded near the lowest level in more than three weeks at $1737/ounce as Treasury yields and the US dollar climbed ahead of the annual gathering of central bankers at Jackson Hole this week.

 

·       Actionable -  Sun TV, Zee TV, ITC, Coal India

 

·       Brokers Radar – JP Morgan  TGT on Mphasis at 2600, Infosys TGT at 1600, HCL Tech TGT at 800, TCS TGT at 2800, LT Tech TGT at 2700, Tech Mahindra 1100, Wipro TGT at 340, Mindtree TGT at 2700,

 

·       Corporate Action  – Ex-dividend - JK Paper Rs5.50, Jubliant Ingrevia Rs2.50, Sun TV Rs5.00

 

·       Events – Ethos Ltd complete anchor lock in period. P&G results

 

·       Global Data – -  Manufacturing PMI, Service PMI, Composite PMI and New Home sales (US), Unemployment Rate, Manufacturing PMI, Service PMI, Composite PMI (France), Manufacturing PMI, Service PMI, Composite PMI (Germany), Manufacturing PMI, Service PMI, Composite PMI (UK)

 

·       Market Summary – Hudson Agro approves raising up to Rs700cr via QIP, L&T bagged large order, TCS gets ABSA corporate contract for global securities platform, CCI Nod For Amalgamation Of Creixent, JSW Ispat with JSW Steel

 

·       Brahmaputra Infrastructure received an order in the Joint Venture name M/s JCC Infra Projects of an total amount Rs. 177.45 Crores – positive

 

·       Radhakishan Damani to head Jhunjhunwala Trust – Moneycontrol – Expects positive for the market sentiment …Focus on D-mart (positive)

 

·       Hudson Agro, dairy product maker, approved proposal to raise funds not exceeding Rs 700 crore, through private placement of equity shares by way of QIP,on Monday. Positive

 

·       Ratnamani Metals and Tubes Ltd has received new Orders aggregating to Rs. 1,186.00 Crores – positive

 

·       Aurionpro Solutions has announced an order win from one of the largest public sector banks in India. – Positive

 

·       Gillette India - Board of Gillette India declared a dividend of Rs36 per share for the fiscal year ended June 30. The dividend will be paid between Nov. 25 to Dec. 16. – company announced impressive quarterly results

 

·       L&T wins large order between Rs2500cr – Rs5000cr from Indian Oil, implementing the Panipat Refinery Expansion (P-25) Project to enhance refining capacity from 15 MMTPA to 25 MMTPA – positive for L&T on account of strong order book

 

·       TCS announced that Absa Corporate and Investment Bank has selected the TCS BaNCS™ Global Securities Platform to transform and modernize its investor services offerings and enrich customer experience across the trade and corporate actions lifecycle in South Africa.- positive

 

·       NTPC - Consequent upon successful commissioning, first part capacity of 10 MW out of 20 MW Gandhar Solar PV Project at Gandhar, Gujarat, is declared on Commercial Operation – Positive

 

·       Infosys: The company scaled back the average variable payout of employees to about 70% for the June quarter amid margin squeeze and high employee costs, PTI reported. – Long term positive

 

·       IIFL Finance: The company’s subsidiary IIFL Home Finance approved allotment of 53.76 lakh shares, representing 20% stake, to Abu Dhabi Investment Fund for a consideration of Rs 2,200 crore. – positive

 

·       Integra Essentia has received orders amounting Rs12cr approx. for supplying Steel Ingots to prestigious Infrastructural (TOR&TMT) Steel Manufacturers located in North India Region – positive

 

·       Godrej Agrovet had signed three Memorandum of Understandings (MoUs) with the state governments of Assam, Manipur, and Tripura for the development and promotion of oil palm cultivation in the area under the National Mission on Edible Oils-Oil Palm (NMEO-OP) scheme.- positive

 

·       Brigade Enterprises: - In the first quarter of this fiscal year, the real estate firm's sales bookings increased 70% yearly to Rs813.9 crore due to stronger house demand. The developer with headquarters in Bengaluru had Rs480 crore in sales commitments during the same time last year. – positive.

 

·       Lemon Tree Hotel gets license pact for 65 room hotel in Hubli, Karnataka, this property is expected to be operational by May, 2023 - positive

 

·       The Life insurance Corporation of India (LIC) witnessed a decline of nearly 20 per cent in death claims in the Q1 FY2022-23 with the COVID-19 impact seen to be ebbing. However, the amount is still higher than pre-2020 levels, officials said. – We are long term positive

 

·       Bank of Baroda approves Rs2500cr via tier -1  bonds – positive

 

·       Greenply unit in pact for 5MW Wind-Solar plant with renew SPV – Positive 

 

·       JSW Steel - Competition Commission of India (CCI) approved the merger of Creixent Special Steels  and JSW Ispat Special with and into JSW Steel – POSITIVE

 

·       Paytm Outcome of AGM: Shareholders Approve Vijay Shekhar Sharma’s Reappointment MD and CEO – Positive

 

·       RBL Bank adds Two Eminent Members to its Board of Directors - RBL Bank, has augmented its Board strength with the appointment of two eminent members - Gopal Jain, Managing Partner at Gaja Capital, an experienced Private Equity Investor and Dr. Sivakumar Gopalan, an accomplished Researcher with over three decades of experience across various aspects of technology. – positive development but poor balance sheet is a concern.

 

·       Dollar Industries,  a leading hosiery brand in India, today launched their 4th Exclusive Brand Outlet (EBO) in Ghaziabad in UP after a successful launch in Ayodhya, Delhi & Alwar. – positive

 

·       BPCL announced the appointment of Shri Sukhmal Jain as Director (Marketing). – Positive

 

·       TVS Electronics to acquire GTID Solutions Development Pvt, to enter into mobile POS software solutions and authentication solutions space, offering hardware along with required applications, digital payment solutions, cloud computing software solutions – positive

 

·       Shalby Ltd's Wholly-owned Subsidiary Mars Medical Devices has further increased to 98.99 % from earlier 98.76% - positive

 

·       Tata Power and Small Industries Development Bank of India (SIDBI), have joined hands to launch an innovative program that will see 1,000 green energy enterprises established throughout the nation. –Long term positive

 

·       Greenply Industries have signed a Power Purchase Agreement (PPA) for solar power projects with 5MW capacity  - positive

 

·       Somany Ceramics has come up with yet another advanced format store concept, SOMANY Arcade: India's 1st Arcade store in Amroha - Uttar Pradesh – positive

 

·       HDFC - Has launched 'All Things EV,' the country's first one-stop-solution portal for Electric Vehicles (EV). In line with the Government of India's push for Electric Mobility, this initiative caters to the needs of existing & potential EV users.- Long term positive

 

·       Power Mech Projects to consider and approve the proposal for raising the funds by issuing equity shares on preferential basis to Promoter(s)/Promoter(s) Group and such other incidental / ancillary matters subject to the approval of shareholders.- positive

 

·       Subex – Ethio Telecom selects Subex’s fraud management solution – positive 

 

·       Gillette India announced impressive quarterly results. Company reported Q1 Net profit Rs67.6cr (up 146% YoY),  Ebitda  Rs117cr vs 52.3 (up 123% YoY), Ebitda margin 20.11% and Income Rs553cr (up 27% YoY)

 

😎

• India Rate Hawk Sees RBI Credibility Boosted After Rate Hikes

o Stable price expectations, bond yields show trust in RBI

• Indian Ocean Off Somalia to Lose High-Risk Status as Piracy Dips

• India ADB Sign $96.3M Loan for Himachal Water Supply

• India’s Capital City Plans 7,000 E-Buses by 2025 from 152 Now

• Wheat Bound for Egypt Still at Indian Port: Egyptian Minister

• Monsoon-Sown Rice Area Drops in India, Cotton Planting Rises

• India Cumulative Monsoon Rainfall 9% Above Normal as of Aug. 22

• McLaren to Open First India Retail Outlet in Mumbai in October

• Indian Company Private Bond Sales Rise 55% W/w to INR112.7 Billion

• Emerging Market ETFs Rise for 2nd Week in $550.5 Mln Streak

• India’s Sensex Falls Most in Two Months With Fed Policy in Focus

• Global Funds Sell Net INR4.54B of Indian Stocks on Monday: NSE

o Domestic funds sell net 16.3b rupees of stocks

• Bangladesh PM Sheikh Hasina to visit India from Sept 5 to 8: Official: PTI

• Russia detains ISIS terrorist plotting suicide attack against Indian elite: Russian media: PTI

• Godrej Agrovet signs MoU with 3 NE states for promotion of oil palm cultivation: PTI

• Lemon Tree Hotels (LEMONTRE): Says signs pact for 65 room Hotel at Hubli

• NTPC (NTPC): Says 10mw of the 20mw Gandhar Solar PV Project declared Commercial Operation from Aug. 23.

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