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

Stocks in Asia advanced amid rise in US equity futures on Tuesday amid a dip in the dollar, uptick in sentiment. Shares gained in Japan, Australia and South Korea. S&P 500 futures pushed higher. At 7:15 am, the Singapore-traded SGX Nifty–an early barometer of India’s benchmark Nifty 50–traded 0.16% higher at 17,716 points. Crude has climbed to about $89 a barrel after OPEC+ agreed to cut 100,000 barrels a day in October. Elsewhere, Bitcoin retook the $20,000 level and gold made gains.

Economic Calendar:

  • USD : ISM Non-Manufacturing PMI (Aug) on 06th Sep, 2022
  • USD : FOMC Member Mester Speaks on 07th September, 2022
  • INR : Bank Loan Growth on 09th September, 2022
  • INR : FX Reserves, USD on 09th September, 2022

Who’s Meeting Whom:

Adani Enterprises: To meet analysts and investors on Sept. 6.

Adani Transmission: To meet analysts and investors on Sept. 7.

Mastek: To meet analysts and investors on Sept. 6.

PNB Housing Finance: To meet analysts and investors on Sept. 6.

Sterling and Wilson Renewable Energy: To meet investors and analysts on Sept. 6.

Brokerage Radar:

MS ON SRF: OW, TP Rs. 2,757; Investor meet showcased ambitious capex plan geared towards chemicals; it also addressed concerns on refrigerant on gas exports

MS ON APOLLO TYRES: OW, TP Rs. 329; Apollo is ranked among the top 2 in the fast growing Indian PV; Apollo is able to gradually pass commodity costs to consumers; Apollo focuses on controlling costs and expanding margins; Expect consolidated RoE to rise from 6% in F22 to 11% in FY25

JEFFERIES ON ICICI LOMBARD: Mintain BUY, TP Rs. 1,620; Risk-reward is looking favourable as company outperforms private peers on premium growth; Third party hike is an upside risk; Stake sale & CEO succession need to be addressed over 12-24 months

International Markets:

U.S & Europe:

Particulars 02nd     September Chg. Chg.(%)
Nasdaq 11630.86 -154.27 -1.31
Dow 31318.44 -337.98 -1.07
FTSE 7281.19 132.69 1.86
CAC 6167.51 133.20 2.21
DAX 13050.27 420.04 3.33
Dow Fut.* 31453.50 23.00 0.07

Asian markets:

Particulars  06th  September Chg. Chg.(%)
SGX Nifty 17707.5 23.00 0.13
Nikkei 27624.96 5.35 0.02
Straits Times 3220.33 4.85 0.15
Hang Seng 19221.71 -3.99 -0.02
Shanghai 3219.73 19.82 0.62

ADR Watch:

Particulars 02nd September  Chg.       Chg.(%)
Dr. Reddy 51.96 -1.09 -2.05
HDFC Bank 61.98 0.21 0.34
ICICI Bank 21.84 -0.11 -0.50
Infosys 18.09 -0.33 -1.79
Tata Motor 28.59 -0.67 -2.29
Wipro 4.99 -0.09 -1.77

Commodities & Currency:

Particulars Current Price Chg.(%)
USD/INR 79.84 0.06
Brent 94.92 -0.86
Gold 1730.80 0.48
Silver 18.215 1.87

FIIs & DIIs:

Particulars 05th September 02nd September
FIIs                           -811.75 -8.79
DIIs 533.77 -668.74

News Update:

Narayana Hrudayalaya: The company has signed a Business Transfer Agreement with Shiva and Shiva Orthopaedic Hospital to acquire its Orthopedic and Trauma Hospital in Bengaluru on slump sale basis for Rs 200 crore.

NTPC: The company has acquired 600 MW Jhabua Power for Rs. 925 crore, out of which Rs. 325 crore was paid towards equity and Rs. 600 crore was paid for allotment of NCDs.

Delhivery: SBI Mutual Fund acquired more than 1.07 lakh equity shares in the company via open market transactions on September 1. With this, its stake in the company increased to 5 percent, up from 4.98 percent earlier.

DreamFolks Services: DreamFolks Services will make its grant debut on the bourses on September 6. The issue price has been fixed at Rs 326 per share.

V-Mart Retail: HSBC Bank Mauritius Limited AC Jwalamukhi Investment Holdings has exited the retail company by offloading entire 13,91,826 equity shares or 7.04 percent stake at an average price of Rs 2,816.29 per share. However, Plutus Wealth Management LLP was the buyer in this deal, acquiring 11.45 lakh shares or 5.79 percent stake in the company at an average price of Rs 2,815.03 per share.

DCW: The company has made the payment towards the early partial redemption of 900 NCDs (out of 35,000 NCDs) having face value of Rs 1 lakh each.

Marksans Pharma: The company has redeemed 500,000 of 7 percent redeemable cumulative preference shares of Rs 100 each face value fully at par. Accordingly, there is no issued and paid-up preference share capital with effect from September 5.

Source: Moneyontrol, Livemint,, Bloomberg, Investing

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