View on market: Stay Cautious, be with quality business:

Indian stock markets, having shown resilience so far, will open on Thursday amid unabated concerns over central banks around the globe stepping up their fight against inflation. That dragged U.S. stocks lower on the final day of August. The S&P 500 and the Nasdaq 100 fell, after fluctuating between modest gains and losses for most of the session. Treasuries were little changed after paring declines that were led by a selloff in U.K. and euro-zone bonds. The Indian markets were closed on account of Ganesh Chaturthi holiday. On Tuesday, domestic benchmarks had sustained gains, rising over 2.5% aided by realty and banking stocks. The 30-stock gauge added about 1,560 points to close at 59,537.07. The Nifty 50 ended 17,759.3, close to its day’s high of 17,777.65. All Nifty 50 and Sensex 30 stocks rose in today’s trade.

Economic Calendar:

  • USD : Initial Jobless Claims on 01st Sep, 2022
  • USD : ISM Manufacturing PMI (Aug) on 01st Sep, 2022
  • INR : FX Reserves, USD on 01st Sep, 2022
  • INR : Trade Balance on 01st Sep, 2022

Who’s Meeting Whom:

Cummins India: To meet analysts and investors on September 2.

Schaeffler India: To meet analysts and investors on September 1 and 2.

Neogen Chemicals: To meet analysts and investors on September 5, September 16, and September 23.

Allcargo Logistics: To meet analysts and investors on September 5 and 6.

Brokerage Radar:

UBS ON ZEE ENT: BUY, TP Rs. 350; Re-enters sports segment; acquires ICC TV rights from Disney Star; Overall a +ve move; while may not be significantly margin accretive, a good 1st step into sports; Will help tap new advertiser pools & increase its linear viewership

MS ON DLF: OW, TP Rs 417; Launching new residential projects at a steady pace to benefit from strong demand tailwinds; Plus, it is building new office & retail assets to ensure rental growth; Overall focus remains on FCF generation & de-leveraging

BROKERAGES ON GDP: Real GDP growth of 13.5%YoY in Jun-22 quarter was lower than expectations; Continue to expect India’s real GDP growth to soften over the coming quarters on waning base effect & global headwinds

International Markets:

U.S & Europe:

Particulars      31st August Chg. Chg.(%)
Nasdaq 11816.20 -66.94 -0.56
Dow 31510.43 -280.44 -0.88
FTSE 7284.15 -77.48 -1.05
CAC 6125.10 -85.12 -1.37
DAX 12834.96 -126.18 -0.97
Dow Fut.* 31423.50 -86.90 -0.28

Asian markets:

Particulars      01st  September Chg. Chg.(%)
SGX Nifty 17470 -40.00 -0.23
Nikkei 27670.15 -421.38 -1.50
Straits Times 3223.01 1.34 0.04
Hang Seng 19790.39 -164.00 -0.82
Shanghai 3210.17 8.03 0.25

ADR Watch:

Particulars     31st August  Chg.       Chg.(%)
Dr. Reddy 52.29 -0.12 -0.23
HDFC Bank 61.05 -0.29 -0.47
ICICI Bank 21.84 -0.10 -0.46
Infosys 18.30 -0.13 -0.71
Tata Motor 29.00 0.01 0.03
Wipro 5.01 -0.01 -0.20

Commodities & Currency:

Particulars Current Price Chg.(%)
USD/INR 79.45 -0.64
Brent 95.48 -0.17
Gold 1716.90  -0.54
Silver 17.613 -1.50

FIIs & DIIs:

Particulars 30th August 29th August
FIIs                           4165.86 -561.22
DIIs  -656.72 144.08

News Update:

Zee Entertainment: Entered strategic licensing agreement with Disney Star for TV broadcasting rights for ICC Men’s and Under 19 global events for a period of four years.

Tata Motors: Bought 49% stake of Marcopolo S.A. in Tata Marcopolo Motors for Rs 99.96 crore. Consequently, TMML will become a wholly owned subsidiary of the company.

Tata Steel: Invested Rs 54 crore in its wholly owned subsidiary Tata Steel Mining.

Infosys: The company divested its minority stake in San Francisco based Trifacta Inc for $12 million.

Glenmark: The company along with Hikma Pharmaceuticals launched nasal spray Ryaltris for relief for both nasal and ocular symptoms of seasonal allergic rhinitis.

Inox Wind: Approved fund raising of Rs 800 crore via issue of non-convertible preference shares to promoters on preferential basis. The funds will be used for repayment of debt. It aims to achieve net debt zero status “in the near future.”

Credit Access Grameeen: Entered an arrangement to avail $90 million through first of its kind Loan Syndication Arrangement led by HSBC Bank. The other lenders in the syndication arrangement include Bank of India, Union Bank of India and UCO Bank.

Aditya Birla Fashion and Retail: Received approval from Competition Commission of India for acquisition of 7.49% stake by Caladium Investment Pte for Rs 2,195 crore.

Source: Moneyontrol, Livemint,, Bloomberg, Investing

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