Market closing: The Sensex closed at 55,582.58, up 145.29 points or 0.26%, while Nifty was at 16,563.05, up 33.95 points or 0.21%. Metals, FMCG and financials closed in green. PSU banks, auto were top drags.
Indian indices closed over 0.20% higher on Monday. The Chinese economy seems to have slowed down as figures on July retail sales, industrial production and urban investment missed forecasts. This led to a slide in global markets.
16 Aug 2021, 04:00:26 PM IST
Market closing quote: Gaurav Udani, CEO and founder, ThincRedBlu Securities
"Nifty traded in a small range today. It was up by 33 points at 16,563. Nifty has strong support in the 16,380 - 16,420 range. Nifty is in a bullish trend and will see 16,600 and 16,700 in the near future."
16 Aug 2021, 03:51:33 PM IST
The Sensex closed at 55,582.58, up 145.29 points or 0.26%, while Nifty was at 16,563.05, up 33.95 points or 0.21%. Metals, FMCG and financials closed in green. PSU banks, auto were top drags. Tata Steel, Bajaj Finance, M&M, and 11 other stocks closed in green, while Maruti, Bajaj Auto, PowerGrid, and 13 other stocks closed in red.
16 Aug 2021, 03:29:18 PM IST
HealthifyMe announces ESOP, equity buyback program worth $12 mn
Health-tech startup HealthifyMe on Monday announced an equity buyback programme worth $12 million ( ₹90 crore). The development comes close on the heels of a $75 million (about ₹559.6 crore) fund raise by the company from investors including LeapFrog and Khosla Ventures."Through this buyback, the company will provide liquidity to almost 100 of its key current and former team members who were early believers in the company's vision and have played a significant role in its success," a statement said.
16 Aug 2021, 03:26:03 PM IST
PE/VC deals touch $9.5 bn in July driven by ecommerce sector
Private equity (PE) and venture capital (VC) investments touched a record high last month driven by a rush of capital that flowed into the ecommerce sector. Deal value in July more than doubled to $9.5 billion compared to the same month last year (figure XXX) across 131 deals, according to a report by industry body Indian Venture Capital Association (IVCA) and EY. Ecommerce deals alone accounted for 61% of the total deal value during the month, driven mainly by the massive funding pulled in by Walmart-owned Flipkart.
16 Aug 2021, 03:18:34 PM IST
Hotel industry witness 84.7% growth in revenue per room in second quarter: JLL
"The hospitality industry in India witnessed a growth of 84.7% in revenue per available room (RevPAR) during the second quarter of 2021 ( April-June) as compared to Q2 2020, according to property consultant JLL India. However, on a pan India level there has been a decline by 53.9% in Q2 2021 RevPAR as compared to Q1 2021, because of the restrictions imposed due to the second wave of the pandemic. Goa emerged as the RevPAR leader in absolute terms in Q2 2021 with a growth of 360% as compared to the very low base of Q2 2020. Additionally, Mumbai witnessed the highest growth in occupancy level registering 17.7% increase in Q2 2021 over the same period last year. Chennai witnessed 99.6% growth in RevPAR followed by Hyderabad with 89.6% increase compared to the same period of the previous year.
16 Aug 2021, 03:08:35 PM IST
Narendra Solanki, head- equity research (Fundamental), Anand Rathi Shares & Stock Brokers on market performance.
“Indian markets started mixed following mixed Asian markets cues as China economic data disappoints with retail sales in China rose 8.5% in July as compared with a year ago, far lower than the 11.5% forecasted. Also, worries around geopolitical concerns in Afghanistan kept investors at bay. During the afternoon session, markets turned positive as buying in Energy, Oil & Gas and Metal sectors lifted the indices. Sentiments were upbeat as India's annual wholesale price inflation eased to 11.16% in July from the previous month's 12.07%, helped by lower increases in the cost of fuel and food items. Additional support also came with Icra Ratings’ report stating that most states are likely to be in better fiscal health this financial year as 20 of them are collectively carrying forward ₹2.6 lakh crore borrowed in FY21 to this fiscal."
16 Aug 2021, 03:06:09 PM IST
HDFC launches green and sustainable deposits
Mortgage firm HDFC on Monday said it has launched green and sustainable deposits with an aim to safeguard the environment from climate change. These fixed deposits will be directed towards financing of green and sustainable housing credit solutions and services, HDFC said in a statement. These deposits will carry interest rates up to 6.55% while maturity period would vary from three to five years. Senior citizens (60 years ) will be eligible for an additional 0.25% per annum on deposits up to ₹2 crore.
Crude oil prices on Monday fell by ₹95 to ₹4,986 per barrel after participants cut their positions on the Multi Commodity Exchange, crude oil for the August delivery dropped by ₹95, or 1.87%, to ₹4,986 per barrel with a business volume of 5,873 lots. Analysts said the fall in crude oil futures was mostly due to trimming of positions by traders amid a weak spot demand. Globally, West Texas Intermediate crude oil was trading 1.86% lower at $67.17 per barrel. Meanwhile, Brent crude, the international benchmark, fell 1.62% to trade at $69.45 per barrel in New York
16 Aug 2021, 02:51:48 PM IST
Ramdev’s Ruchi Soya gets Sebi nod for ₹4,300 cr FPO; launch expected next week
Edible oil producer Ruchi Soya Industries Ltd, owned by Ramdev’s Patanjali Ayurved group, has received Securities and Exchange Board of India’s (Sebi) approval to sell fresh shares through a follow-on public offer (FPO) to pare debt and cut promoter shareholding as mandated by the markets regulator, said a person aware of the development. “The approval came in on Saturday," the person said. (Read here)
India-focussed offshore funds, ETFs log $1.55 bn outflow in Jun qtr
New Delhi, Aug 16 (PTI) India-focused offshore funds and exchange-traded funds (ETFs) witnessed a net outflow of $1.55 billion in three months ended June 2021, making it the 13th consecutive quarter of withdrawal, according to a Morningstar report released on Monday. This was significantly higher than the net outflows of $376 million registered during the quarter ended March 2021. India-focused offshore funds and India-focused ETFs are some of the prominent investment vehicles through which foreign investors invest in Indian equity markets.
16 Aug 2021, 01:45:24 PM IST
16 Aug 2021, 01:38:24 PM IST
Govt may raise fertiliser subsidy, prices: report
-The Centre may hike subsidy for fertilisers
-The Centre may also hike fertiliser prices
-The move is in line with international rise in fertiliser rates
CNBCTV18 reported citing people familiar with the matter.
16 Aug 2021, 01:35:44 PM IST
Govt eyes United India Assurance privatisation: report
The proposal will require a cabinet nod for privatisation of the state-owned insurer, CNBCTV18 reported citing people familiar with the matter.
16 Aug 2021, 01:07:24 PM IST
Fortis Healthcare gains
Fortis Healthcare's sock was tradign at ₹245.15 each, up 3.40% at 1:07 pm. The company on Friday reported a consolidated net profit of ₹430.61 crore for the first quarter ended 30 June 2021, aided by an exceptional gain from the remeasurement of stake held in SRL-DDRC joint venture. The company had posted a consolidated net loss of ₹187.88 crore in the same quarter last fiscal, Fortis Healthcare said in a regulatory filing. Consolidated revenue from operations stood at ₹1,410.31 crore in the first quarter of this fiscal as against ₹605.95 crore in the year-ago period.
WPI inflation eases in July, but remains in double digits
India’s wholesale price inflation eased in July but remained in double digits for the fourth consecutive month, as fuel and food inflation moderated even as inflation of manufactured items picked up. Data released by the industry department showed wholesale price index (WPI) based inflation fell to 11.16% in July from 12.07% a month ago as food inflation got eliminated (0%) and fuel inflation eased to 26%. However, inflation for manufactured items rose to 11.2% in July from 10.88% a month ago, signaling manufacturers regaining pricing power as the economic recovery gathers momentum.
16 Aug 2021, 12:52:58 PM IST
Sebi asks depositories to use blockchain tech for monitoring securities
The Securities and Exchange Board of India (Sebi) has asked depositories to create, host, and maintain a system using the distributed ledger technology (DLT), or blockchain technology, to record and monitor the creation of securities as well as to monitor the covenants of non-convertible securities. (Read more)
16 Aug 2021, 12:25:41 PM IST
Price hikes lift Tata Steel but Europe needs a fix
Tata Steel Ltd’s June-quarter performance showed the salutary effects of firm steel prices, with the highlight being the record per-tonne profitability. Steel prices have been on an upswing globally and Indian steelmakers have been able to reap the benefits despite the pandemic threatening operations. For the June quarter, average India rebar and hot-rolled prices were up by around 3% and 18%, respectively, on a sequential basis. (Read here)
Tata Motors partners with Bank of Maha for passenger vehicle retail financing scheme
Homegrown auto major Tata Motors on Monday said it has partnered with Bank of Maharashtra to offer retail financing scheme for its passenger vehicles. Under the partnership, Bank of Maharashtra will provide loans to Tata Motors' customers at an interest rate starting from as low as 7.15% linked with Repo Linked Lending Rate (RLLR), subject to certain conditions, the company said in a statement. Besides, the scheme will offer a maximum of 90% financing on the total cost of the vehicle (on-road pricing) for various individuals like salaried employees, self-employed people, professionals, businessmen, and agriculturist, it added.
Ashok Leyland sees weak Q1 but CV recovery in H2 FY22 may aid earnings
Ashok Leyland Ltd saw lockdowns, in the wake of the second wave of the pandemic, impact its earnings recovery during the June ended quarter (Q1 FY22). Sales of commercial vehicles which had been picking up till Q4, hit a speed bump as coronavirus virus infections surged during March-April 2021. While total sales at 17,987 grew over 4 times year-on-year (YoY), given the low base, they were almost 60% lower sequentially. Domestic light commercial vehicle (LCV) sales nearly halved to 8,690 in Q1 FY22 from 17,042 in the previous quarter, even as they jumped 224% on year. Exports of MHCVs and LCVs also fell to 1,437 units from 3,164 during January-March. MHCV stands for medium and heavy commercial vehicles. (Read more)
V-Mart Retail Ltd’s shares are as much as 47% above their pre-covid highs seen in February 2020. This is despite the fact that the value fashion retailer posted a net loss for the financial year 2021 as the adverse impact of the covid-19 pandemic’s disruptions weighed on demand. Clearly, investors seem to be looking beyond the near-term pain and betting on future recovery once normalisation commences.
Saudi Aramco is said to be in advanced talks for up to $25 bn RIL deal
16 Aug 2021, 11:45:23 AM IST
Pharma, media stocks drag
16 Aug 2021, 11:40:55 AM IST
CMS Info Systems files DRHP with Sebi to garner ₹2,000-cr via IPO
Cash management company CMS Info Systems has filed preliminary papers with markets regulator Sebi to mop up ₹2,000 crore through its initial share sale offering. The company's initial public offer (IPO) is a pure offer for sale by promoter Sion Investment Holdings Pte Limited, an affiliate of Baring Private Equity Asia, as per the draft red herring prospectus (DRHP). Sion Investment, which acquired CMS in 2015, holds 100 per cent stake in the company at present. CMS provides cash management services, which include ATM services, and cash delivery and pick-up.
16 Aug 2021, 11:27:42 AM IST
Forex, money markets closed on account of Parsi New Year
16 Aug 2021, 11:27:42 AM IST
HDFC Bank plans to raise funds via AT-1 bonds from overseas market
HDFC Bank on Monday said the bank plans to raise capital by additional tier- I (AT1) bonds in the overseas market to fund its business growth. The bank is expected to raise up to USD 1 billion from these dollar denominated bonds. "We hereby inform you that the bank had approved the issuing of debt instruments in the form of the notes, subject to market conditions," HDFC Bank said in a regulatory filing.
All commercial flights are suspended at Kabul: report
All commercial flights are suspended at Hamid Karzai International Airport in Kabul, Afghanistan, TOLONews reported citing a statement. It calls on the people to avoid crowds at the airport, according to the report.
16 Aug 2021, 11:09:00 AM IST
Devyani International shares: Should you buy, sell or hold?
Devyani International shares made strong debut at the Indian bourses after listing at around 56 per cent premium. Stock market experts are of the opinion that the stock of largest franchisee of Pizza Hut, KFC, and Costa Coffee in India still looks positive and one can hold the counter for next 6-8 months as the stock may hit ₹200 levels in this period. They said that good parentage, growth story and unlock theme would further fuel Devyani International share price in long term. (Read here)
16 Aug 2021, 10:57:46 AM IST
State Bank of India announces offers on retail loans, deposits
State Bank of India (SBI) on Monday announced an array of retail offers, including processing fee waivers on loans as well as a limited period deposit rate hike. Customers can further enjoy the facility of up to 90% on-road financing for their car loans, the bank said. It is offering a special interest concession of 25 basis points (bps) for customers applying for a car loan through the Yono app. The users of Yono planning to bring home a new car can avail of the loan at an interest rate of 7.5% per annum, it said.
16 Aug 2021, 10:49:27 AM IST
Exxaro Tiles lists at 5% premium
Exxaro Tiles Ltd's stock was at a premium 5% on market debut on Monday after its initial public offering subscribed over 23 times last week. The stock opened at ₹126 and touched a high and a low of ₹132.20 and ₹126, respectively. At 10.10 am, the scrip was trading at ₹132 on BSE up 10% from its issue price of ₹120.
16 Aug 2021, 10:45:37 AM IST
Nifty commentary: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
“The Nifty has opened flat and is perhaps taking a bit of a breather after a stellar run last week. The support for the week has been upgraded to 16,400 and hence any dip or intraday correction can be bought into for a target of 16,600."
16 Aug 2021, 10:24:17 AM IST
Voda Idea trades lower
Vodafone Idea's stock was trading at ₹6.02 apiece, down 4.75% at 10:22 am. Debt-ridden private telecom company Vodafone Idea on Saturday posted consolidated loss of ₹7,319 crore for the first quarter ended on 30 June 2021, against June25,460 crore loss in the same quarter a year ago. The consolidated revenue from operations of Vodafone Idea (VIL) declined by about 14% to ₹9,152.3 crore during the reported quarter from ₹10,659.3 crore in the corresponding quarter of 2020-21.
Alert: US troops fire shots in air at Kabul airport as crowd mobs tarmac: witness
US troops fired shots into the air at Kabul airport on Monday as thousands of Afghans crowded onto the tarmac in the hope of catching a flight out of the country after the Taliban takeover of the country. "I feel very scared here. They are firing lots of shots into the air," a witness told AFP.
16 Aug 2021, 10:17:56 AM IST
Krsnaa Diagnostics shares make a tepid listing
Krsnaa Diagnostics shares made their stock market debut on Monday by listing at ₹1,005.5 per share on the National Stock Exchange (NSE), over 5% premium from its issue price of ₹954 apiece. The initial public offer (IPO) of Krsnaa Diagnostics, that closed on August 6, was subscribed 64.40 times on the final day of subscription. (Read more)
16 Aug 2021, 10:04:41 AM IST
Spicejet trades lower
SpiceJet Ltd's stock was down 3.96% to ₹69.05 apiece. On Friday, the company reported its sixth consecutive quarterly loss at ₹731.12 crore during the three month period that ended on 30 June. This is primarily because of the impact of second wave of covid-19 during the quarter, which led to a massive decline in passenger traffic. The Gurugram-based carrier said its operations were significantly hit by the continued impact of covid-19, which affected travel demand during the June quarter. (Read more)
Gold prices today struggle after sharp jump, silver rates drop
Gold prices struggled for direction today after a sharp gain in the previous session. On MCX, gold was flat at ₹46961 per 10 gram while silver dipped to ₹63,160 per kg. In the previous session, gold had risen about ₹600 per 10 gram while silver had jumped ₹1,350 per kg. Gold has been on a upward trend after hitting a four-month low of ₹45,800 last week after better-than-expected US data led to a selloff on bets the Federal Reserve may start paring back massive monetary stimulus soon. (Read here)
16 Aug 2021, 09:56:14 AM IST
RIL, ICICI Bank top drags
16 Aug 2021, 09:50:21 AM IST
Banks, financials drag
16 Aug 2021, 09:32:17 AM IST
16 Aug 2021, 08:54:42 AM IST
Ahead of listing, Devyani International extends partnership with Costa Coffee
Devyani International Limited (DIL), the largest franchisee of Yum Brands in India and among the largest operators of chain quick service restaurants, today announced the extension of partnership with Costa Coffee. DIL has entered into a revised development agreement for its existing Costa business on August 14, 2021, pursuant to which DIL has been granted development rights for PAN India in a phased manner. ‘’This agreement has initially granted development rights for a period of 5 years and extendable from time to time subject to meeting of development and contractual obligations,'' the company said in a statement.
16 Aug 2021, 08:47:00 AM IST
Stocks to Watch
Glenmark Pharma, infra stocks, Voda Idea, ONGC among other scrips may be in the news today. (Read here)
16 Aug 2021, 08:33:59 AM IST
Markets are likely to be volatile on Monday while trends in SGX Nifty suggest a soft opening of Indian benchmark indices. On Friday, the BSE Sensex hit 55,000 for first time ending at 55,437.29, up 593.31 points or 1.08%. The Nifty was at 16,529.10, up 164.70 points or 1.01%. (Read more)
16 Aug 2021, 08:26:03 AM IST
Mcap of 8 of top-10 valued firms zooms over ₹1.6 lakh cr; TCS biggest gainer
Eight of the 10 most valued companies added a total ₹1,60,408.24 crore to their market valuation last week, with heavyweights Tata Consultancy Services and Reliance Industries contributing the most amid a bullish trend in equities. During the last week, the 30-share BSE benchmark jumped 1,159.57 points or 2.13 per cent. On Friday, the benchmark reached its lifetime high of 55,487.79, crossing the 55,000-mark for the first time. From the top-10 list, State Bank of India and Bajaj Finance were the only laggards. (Read more)
16 Aug 2021, 08:13:38 AM IST
FPIs invest ₹2,085 cr in Indian equities in first half of August
Foreign portfolio investors (FPIs) bought Indian equities worth ₹2,085 crore in the first half of August owing to improvement in economic activity. As per depositories data, overseas investors pumped in a net ₹2,085 crore between 2-13 August. (Read more)
16 Aug 2021, 08:02:26 AM IST
India aims to spend $1.4 tn building infrastructure
India aims to invest ₹100 trillion ($1.35 trillion) in infrastructure to boost economic growth and create jobs, Prime Minister Narendra Modi said Sunday, laying out national priorities on the country’s 75th Independence Day. The investments will be made in India’s logistics sector to help integrate the country’s varied modes of transport, Modi said in a national address from the historic Red Fort in capital New Delhi. “This will cut travel time and increase industry productivity. It will help make Indian industry globally competitive and develop future economic zones." Modi didn’t give details. Last year also Modi had flagged his government’s focus on infrastructure worth 110 trillion rupees, while in 2019 the government had a goal of building 100 trillion rupees of public work projects. Asia’s third-largest economy needs to build roads and ports as it competes for investments looking to move out of China. (Bloomberg)
16 Aug 2021, 07:42:10 AM IST
Global trends to dictate equity markets in holiday-shortened week, say analysts
With corporate earnings season largely over, equity investors would focus on global trends for further direction in a holiday-shortened week ahead, analysts said. Equity markets would remain closed on Thursday for Muharram. "The majority of India Inc's first-quarter earnings were stronger-than-expected and in the absence of a major event, global cues are expected to guide the market direction," said Nirali Shah, Head of Equity Research, Samco Securities. Santosh Meena, Head of Research, Swastika Investmart Ltd said that on the domestic front, WPI numbers will be released on Monday. (PTI)
16 Aug 2021, 07:31:37 AM IST
Asian markets witness cautious start
Asian share markets made a cautious start to the week on Monday ahead of a raft of Chinese data that could confirm a slowdown in the giant economy, as much of the world races to stem the spread of the Delta variant of COVID-19 with vaccinations. Figures on retail sales, industrial production and urban investment are forecast to show a modest pullback in activity in China in July, a trend likely to be worsened by the recent tightening in coronavirus restrictions. There was some uncertainty about the possible geopolitical implications of the sudden collapse of the Afghan government and what it mean for political stability in the region. "Asia's low vaccination rates and low tolerance for community spread suggest it is the region most at risk economically from the Delta variant," said JPMorgan economist Bruce Kasman. MSCI's broadest index of Asia-Pacific shares outside Japan was flat in early trade, having hit its lows for the year last month.
Japan's Nikkei fell 1.2%, though economic growth pipped forecasts for the June quarter.
Nasdaq futures and S&P 500 futures were both down 0.1% in early Asian action.
Australia’s S&P/ASX 200 Index shed 0.3%
Hang Seng Index futures rose 0.1% earlier
The Shanghai Composite Index was down 0.04%
The Kospi was down 1.16%
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