Indian Market Outlook:

The Key benchmark indices rose over 3 percent during the week, registered the best week since early February.The factors which supported the rally are indications from Jackson Hole address by the Fed Chief that tapering off may start as early as later this year but rate hikes may happen much later next year, Strong buying action in heavyweights like Relianceand improving general pandemic conditions. Nifty ended the week with3.7 percent higher andhit the 17,300 mark for the first timewhile the Sensex ended with3.57 percenthigher at58130points. Reliance Industries was the biggest gainer in the Nifty and Sensex on Friday, with a gain of over 4 per cent. Broader marketalso rallied with key benchmark indices. BSE Midcap index ended 4.85 percent higher, while the BSE Small cap index rose 3.89 percent. Foreign Institutional Investors were the net buyerduring the week; boughtequities worth Rs.6868 crores while the DIIs were the net sellersof Rs.1421 crores. Of August 2021 Auto Sales Mahindra and Mahindra reported numbers below estimates while Tata Motors has been outperforming continuously and posted the August sales numbers better than estimated. Maruti reported sales in line with estimates. Going forward the shortage of semiconductors will see the automobile industry’s production plunge by 110,000 units in September, with Maruti Suzuki and Mahindra & Mahindra set to lead the cut in production. With Market at its all-time high, we would suggest investors to stay invested in fundamentally strong stocks.On Macro front, Industrial Production of India would be announced on 10th September, 2021

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Latest Spot Price (in US $)

Precious Metal Current Price Change (%) 3 Month 6 Month 1 Year
Gold 1830.25 0.59 -2.59 0.94 -7.07
Silver 24.8 2.86 -9.85 -5.49 -10.95
Platinum 1023.9 1.78 -12.55 -12.73 11.23
USD/INR 72.98 -0.67 0.22 0.75 -2.71
Crude 69.29 0.80 8.98 12.68 62.73

 

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Global Weekly Events

Date Region Event Description Forecast Previous
Sep06,2021 GBP Construction PMI (Aug) 56.9 58.7
Sep09,2021 USD Initial Jobless Claims 340K
Sep09,2021 USD Crude Oil Inventories     – -7.169M
Sep 10,2021 GBP GDP (YoY) 22.2%
Sep 10,2021 INR Industrial Production (YoY) (Jul) 13.5% 13.6%
Sep 10,2021       USD PPI (MoM) (Aug) 0.6% 1%

Domestic Economy Indicators

Heading Indicators Current Previous
 RBI Policy Rate Policy Repo Rate 4.00% 4.00%
Reverse Repo Rate 3.35% 3.25%
Bank Rate 4.25% 4.25%
 Reserve Ratio CRR 4.00% 3.50%
SLR 18.00% 18.00%
 Inflation Rate Wholesale Price Index 11.16% 12.07%
Consumer Price Index 5.59% 6.26%
 Trade Data Export ($ Million) 33140 35340
Import($ Million) 47010 46400
IIP 13.6% 28.6%

 

Domestic Indices Closing(3rd

Sep)

Change %Change
BSE Sensex 58,129.95 2,005.23 3.57
Nifty 17,323.60 618.40 3.70
Mid Cap 24,382.19 1,126.80 4.85
Small Cap 27,305.31 1,021.16 3.89
Bank Nifty 36,761.15 1,133.35 3.18

 

Global Indices Closing (3rdSep) Change %Change
Dow Jones 35,369.35 -85.46 -0.24
Nasdaq 15,363.50 234.00 1.55
FTSE 7,138.35 -9.66 -0.14
Nikkei 29,128.11 1,486.97 5.38
Hang Seng 25,901.99 494.10 1.94
Shanghai Com 3,581.73 59.57 1.69

 

Net Inflow (Cr) FII DII
30-Aug-2021 1,202.81 688.85
31-Aug-2021 3,881.16 -1,872.40
01-Sep-2021 666.66 -1,287.87
02-Sep-2021 348.52 381.7
03-Sep-2021 768.58 668.6
Total 6,867.73 -1421.12

 

Top Gainers Closing Price Prev Close Chg (%)
Titan 2019.30 1822.55 10.80
Bharti Airtel 658.45 595.15 10.64
Asian Paints 3338.80 3036.80   9.94
Eicher Motors 2802.60 2576.10   8.79
Bajaj Finance 7523.40 6966.60   7.99

 

Top Losers Closing Price Prev Close Chg (%)
M & M 749.90 775.15 -3.26
Infosys  1700.65 1708.80 -0.48
Tech Mahindra 1441.95 1445.40 -0.24
Source: Investing, NDTV, BSE, Business Standard,Moneycontrol,

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Economic News:

  • The Goods and Service Tax (GST) Council will meet in Lucknow on September 17 to sort out the vexatious issue of whether and how to compensate states for any ‘revenue shortfall’ beyond June 2022, when the current such mechanism is designed to end. According to sources, the all-powerful Centre-state council will also deliberate on the ways to boost revenues, amid a realisation that the average GST rate being much lower than the rate of assorted taxes that were replaced by the comprehensive indirect tax, is one reason why GST hasn’t yielded the projected revenue growth.

  • India’s services activity grew for the first time in four months to a one and a half-year high in August as vaccine access improved and consumer footfall rose following reopening of several establishments companies continued to reduce their workforce, a private survey showed Friday. The IHS Markit Purchasing Managers’ Index (PMI) rose to 56.7 in August from 45.4 in the previous month. A reading above 50 shows expansion and one below that indicates contraction.

 

 

 Industry News:

  • To increase textiles exports by up to three-fold to $100 billion at the earliest, the Centre is in talks with state governments to help businesses get land, power and other utilities at attractive rates to set up mega textile parks, trade and textiles minister Piyush Goyal said on Friday. Goyal, who is also in charge of the consumer affairs and public distribution ministry, told industry leaders that export of textiles, apparel and handicraft should reach $44 billion in FY22. At present, textile exports are valued at around $33 billion.

  • Despite economic uncertainties, 4 in every 10 potential homebuyers are now planning to purchase premium and luxury properties in the country’s top seven markets. A latest report, prepared jointly by property consultant Anarock and CII, shows how radically the pandemic has altered buying preference. For the first time, demand for affordable houses — traditionally an attractive option for most — is now near equal to that of premium homes. Affluent buyers are considering buying their second home, driving the demand for such purchases to 41 per cent.

 

 

Company News:

  • Franklin Templeton Mutual Fund has said it received a payment of nearly Rs 149 crore from Vodafone Idea Ltd as interest on its securities investment, which will be distributed among investors of the segregated portfolios. “The interest amounting to Rs 148.75 crore due from Vodafone Idea Ltd on September 3, 2021 for the security(Non-convertible debenture /NCD) held in the segregated portfolio of five schemes has been received,” a Franklin Templeton MF spokesperson said.

  • Life Insurance Corporation (LIC), the state-owned behemoth, has picked up nearly 4% equity shares in state-owned Bank of India through an open market transaction, the bank said on Friday. LIC has picked up nearly 3.9% (15,90,07,791 shares) of the bank through open market acquisition on September 2, 2021, BoI said in a regulatory filing.

  • Stating that Reliance Industries (RIL) “will aggressively pursue” the target of bringing down the cost of green hydrogen to under $2 per kg “well before the turn of this decade”, chairman Mukesh Ambani said on Friday “India can set an even more aggressive target of achieving under $1 per kg within a decade”. 

  • India’s state-owned Oil & Natural Gas Corp has been excluded from the world’s biggest sovereign wealth fund, due to the “unacceptable risk that the company is contributing to serious violations of the rights of individuals” in its joint ventures with South Sudan’s national oil company Nile Petroleum Corporation.

 

 

Global News

  • Tech billionaire Elon Musk has reportedly told Tesla employees that the automaker is planning to unveil its previously announced $25,000 electric car in 2023. The CEO hinted that it might not even be equipped with a steering wheel, reports electrek.co. Musk earlier noted that this new price point is achieved through Tesla’s new battery cell and battery manufacturing effort, which could reduce battery costs by over 50 per cent.
  • S. hiring downshifted abruptly in August with the smallest jobs gain in seven months, complicating a potential decision by the Federal Reserve to begin scaling back monetary support by year end.Nonfarm payrolls increased 235,000 last month, trailing all forecasts, after an upwardly revised 1.05 million gain in July, a Labor Department report showed Friday. The median estimate in a Bloomberg survey of economists was for a 733,000 monthly advance in August.
(Source:Bloomberg Quint, Economic Times, BusinessToday,Business Standard, Financial Express,Investing, Moneycontrol, livemint)

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Forthcoming Corporate Actions 6th September – 11th September

Security Name Ex-Date Purpose Security Name Ex-Date Purpose
CHEMCRUX 06-Sep-21 Bonus issue 2:1 GULPOLY 08-Sep-21 Final Dividend – Rs. – 0.40
SUBROS 06-Sep-21 Dividend – Rs. – 0.70 LEHIL 08-Sep-21 Final Dividend – Rs. – 0.50
SHYAMMETL 06-Sep-21 Dividend – Rs. – 2.70 ROSSARI 08-Sep-21 Final Dividend – Rs. – 0.50
ALBERTDA 06-Sep-21 Dividend – Rs. – 6.00 SEQUENT 08-Sep-21 Final Dividend – Rs. – 0.50
TRANSPEK 06-Sep-21 Dividend – Rs. – 7.50 SINGER 08-Sep-21 Final Dividend – Rs. – 0.50
ORIRAIL 06-Sep-21 Final Dividend – Rs. – 0.20 SUPERSHAKT 08-Sep-21 Final Dividend – Rs. – 0.50
ENGINERSIN 06-Sep-21 Final Dividend – Rs. – 0.60 KAMDHENU 08-Sep-21 Final Dividend – Rs. – 0.80
HERANBA 06-Sep-21 Final Dividend – Rs. – 0.70 VIPULORG 08-Sep-21 Final Dividend – Rs. – 0.90
DUTRON 06-Sep-21 Final Dividend – Rs. – 1.20 BNALTD 08-Sep-21 Final Dividend – Rs. – 1.00
BHARATRAS 06-Sep-21 Final Dividend – Rs. – 1.50 EVERESTO 08-Sep-21 Final Dividend – Rs. – 1.00
PIIND 06-Sep-21 Final Dividend – Rs. – 2.00 HISARMET 08-Sep-21 Final Dividend – Rs. – 1.00
DECCANCE 06-Sep-21 Final Dividend – Rs. – 5.00 ISGEC 08-Sep-21 Final Dividend – Rs. – 1.00
CARERATING 06-Sep-21 Final Dividend – Rs. – 6.00 RAMRAT 08-Sep-21 Final Dividend – Rs. – 1.00
BEARDSELL 07-Sep-21 Dividend – Rs. – 0.10 SALASAR 08-Sep-21 Final Dividend – Rs. – 1.00
SWANENERGY 07-Sep-21 Dividend – Rs. – 0.10 SUMEDHA 08-Sep-21 Final Dividend – Rs. – 1.00
CGCL 07-Sep-21 Dividend – Rs. – 0.40 ACRYSIL 08-Sep-21 Final Dividend – Rs. – 1.20
JSTL 07-Sep-21 Dividend – Rs. – 0.50 AJMERA 08-Sep-21 Final Dividend – Rs. – 1.40
PANCARBON 07-Sep-21 Dividend – Rs. – 12.00 SGRL 08-Sep-21 Final Dividend – Rs. – 1.7500
AXTEL 07-Sep-21 Dividend – Rs. – 3.00 TRIVENI 08-Sep-21 Final Dividend – Rs. – 1.7500
GOODRICKE 07-Sep-21 Dividend – Rs. – 3.00 ONGC 08-Sep-21 Final Dividend – Rs. – 1.8500
COMPUAGE 07-Sep-21 Final Dividend – Rs. – 0.20 CREATIVE 08-Sep-21 Final Dividend – Rs. – 10.00
COMPUSOFT 07-Sep-21 Final Dividend – Rs. – 0.30 MAZDALTD 08-Sep-21 Final Dividend – Rs. – 11.00
SHBCLQ 07-Sep-21 Final Dividend – Rs. – 0.30 PILANIINVS 08-Sep-21 Final Dividend – Rs. – 15.00
ASHOKALC 07-Sep-21 Final Dividend – Rs. – 0.50 IOLCP 08-Sep-21 Final Dividend – Rs. – 2.00
BALFC 07-Sep-21 Final Dividend – Rs. – 0.50 GARFIBRES 08-Sep-21 Final Dividend – Rs. – 2.50
PARAGMILK 07-Sep-21 Final Dividend – Rs. – 0.50 GLENMARK 08-Sep-21 Final Dividend – Rs. – 2.50
RADIXIND 07-Sep-21 Final Dividend – Rs. – 0.50 PONDYOXIDE 08-Sep-21 Final Dividend – Rs. – 2.50
CYBERTECH 07-Sep-21 Final Dividend – Rs. – 1.00 TBZ 08-Sep-21 Final Dividend – Rs. – 2.50
TRITURBINE 07-Sep-21 Final Dividend – Rs. – 1.20 TVTODAY 08-Sep-21 Final Dividend – Rs. – 2.50
KIOCL 07-Sep-21 Final Dividend – Rs. – 1.6400 LOHIASEC 08-Sep-21 Final Dividend – Rs. – 2.70
CORAGRO 07-Sep-21 Final Dividend – Rs. – 2.00 GUJINTRX 08-Sep-21 Final Dividend – Rs. – 3.00
PRINCEPIPE 07-Sep-21 Final Dividend – Rs. – 2.00 POWERGRID 08-Sep-21 Final Dividend – Rs. – 3.00
APCL 07-Sep-21 Final Dividend – Rs. – 5.00 NTPC 08-Sep-21 Final Dividend – Rs. – 3.1500
PRAXIS 07-Sep-21 Right Issue of Equity Shares SAHYADRI 08-Sep-21 Final Dividend – Rs. – 3.50
MHRIL 08-Sep-21 Bonus issue 1:2 PSPPROJECT 08-Sep-21 Final Dividend – Rs. – 4.00
RISHIROOP 08-Sep-21 Buy Back of Shares THEMISMED 08-Sep-21 Final Dividend – Rs. – 4.30
JAYSYN 08-Sep-21 Dividend – Rs. – 0.20 MOIL 08-Sep-21 Final Dividend – Rs. – 4.90
GENUSPOWER 08-Sep-21 Dividend – Rs. – 0.50 PTC 08-Sep-21 Final Dividend – Rs. – 5.50
PREMIERPOL 08-Sep-21 Dividend – Rs. – 0.50 GULFOILLUB 08-Sep-21 Final Dividend – Rs. – 9.00
FLEXFO 08-Sep-21 Dividend – Rs. – 1.00 VEDL 08-Sep-21 Interim Dividend – Rs. – 18.50
GOWRALE 08-Sep-21 Dividend – Rs. – 1.00 BASML 08-Sep-21 Right Issue of Equity Shares
MANGCHEFER 08-Sep-21 Dividend – Rs. – 1.00 VARIMAN 09-Sep-21 Dividend – Rs. – 0.1500
MARIS 08-Sep-21 Dividend – Rs. – 1.00 ORICON 09-Sep-21 Dividend – Rs. – 0.50
MUKANDLTD 08-Sep-21 Dividend – Rs. – 1.00 TAMBOLI 09-Sep-21 Dividend – Rs. – 0.90
MANGLMCEM 08-Sep-21 Dividend – Rs. – 1.50 SHIVTEX 09-Sep-21 Dividend – Rs. – 1.20
NITINSPIN 08-Sep-21 Dividend – Rs. – 1.50 UNIABEXAL 09-Sep-21 Dividend – Rs. – 10.00
63MOONS 08-Sep-21 Dividend – Rs. – 2.00 GNA 09-Sep-21 Dividend – Rs. – 2.50
GSPL 08-Sep-21 Dividend – Rs. – 2.00 GROVY 09-Sep-21 Final Dividend – Rs. – 0.10
GUJGAS 08-Sep-21 Dividend – Rs. – 2.00 GUFICBIO 09-Sep-21 Final Dividend – Rs. – 0.10
GSFC 08-Sep-21 Dividend – Rs. – 2.20 LANCER 09-Sep-21 Final Dividend – Rs. – 0.50
DHUNINV 08-Sep-21 Dividend – Rs. – 2.50 SAYAJIIND 09-Sep-21 Final Dividend – Rs. – 1.00
RJSHAH 08-Sep-21 Dividend – Rs. – 2.50 SHIVAMILLS 09-Sep-21 Final Dividend – Rs. – 1.00
UFLEX 08-Sep-21 Dividend – Rs. – 2.50 SALAUTO 09-Sep-21 Final Dividend – Rs. – 3.50
DHANVARSHA 08-Sep-21 Final Dividend – Rs. – 0.0500 SNL 09-Sep-21 Final Dividend – Rs. – 4.50
UGARSUGAR 08-Sep-21 Final Dividend – Rs. – 0.20 YSL 09-Sep-21 Final Dividend – Rs. – 40.00
FILATEX 08-Sep-21 Final Dividend – Rs. – 0.40 GNA 09-Sep-21 Special Dividend – Rs. – 2.50

Source: BSE, Elite wealth Research

Upcoming Key Board Meetings -6th September – 11th September

Symbol Purpose BM Date Symbol Purpose BM Date
AARTECH A.G.M. 06-Sep-21 FRANKLIN General 07-Sep-21
ALPHA Quarterly Results 06-Sep-21 GSBFIN A.G.M. 07-Sep-21
AMTEKAUTO Audited Results 06-Sep-21 HKG A.G.M.;General 07-Sep-21
ARCFIN General 06-Sep-21 HVL A.G.M.;General 07-Sep-21
ARHNTTO A.G.M.;General 06-Sep-21 JAINMARMO A.G.M. 07-Sep-21
BBREALTY A.G.M. 06-Sep-21 JISLDVREQS Preferential Issue of shares 07-Sep-21
CHDCHEM A.G.M. 06-Sep-21 JISLJALEQS Preferential Issue of shares 07-Sep-21
CITURGIA A.G.M. 06-Sep-21 KAARYAFSL A.G.M.;General 07-Sep-21
CLIOINFO A.G.M.;General 06-Sep-21 KCDGROUP A.G.M. 07-Sep-21
CMBL A.G.M. 06-Sep-21 LOYAL A.G.M. 07-Sep-21
COLORCHIPS A.G.M. 06-Sep-21 MACH A.G.M.;General 07-Sep-21
COVIDH A.G.M. 06-Sep-21 MISQUITA A.G.M.;General 07-Sep-21
EBFL A.G.M. 06-Sep-21 MRSS Preferential Issue of shares 07-Sep-21
EMAMIREAL Audited Results 06-Sep-21 NILACHAL A.G.M. 07-Sep-21
GENNEX A.G.M.;General 06-Sep-21 NIVAKA A.G.M.;General 07-Sep-21
GOLDLINE A.G.M. 06-Sep-21 ODYCORP A.G.M.;General 07-Sep-21
GVFILM A.G.M.;General 06-Sep-21 ONEGLOBAL A.G.M. 07-Sep-21
HANMAN A.G.M. 06-Sep-21 OPTOCIRCUI Quarterly Results 07-Sep-21
INDITALIA A.G.M. 06-Sep-21 PBGLOBAL A.G.M. 07-Sep-21
INNOVTEC A.G.M.;General 06-Sep-21 PROVESTSER A.G.M.;General 07-Sep-21
INTELLADV A.G.M.;General 06-Sep-21 RAJNISH A.G.M.;General 07-Sep-21
JAUSPOL A.G.M.;General 06-Sep-21 RISHDIGA A.G.M.;General 07-Sep-21
KAPILRAJ A.G.M. 06-Sep-21 SEAGOLD General;Preferential Issue 07-Sep-21
KIRANPR A.G.M.;General 06-Sep-21 SHANTAI General 07-Sep-21
KMEW A.G.M. 06-Sep-21 SIROHIA General 07-Sep-21
KMSMEDI Final Dividend;General 06-Sep-21 SPECMKT Preferential Issue of shares 07-Sep-21
LOOKS A.G.M.;General 06-Sep-21 UNITINT A.G.M.;General 07-Sep-21
LYKISLTD General 06-Sep-21 VISUINTL A.G.M.;General;Quarterly Results 07-Sep-21
MMLF General 06-Sep-21 VRFILMS A.G.M.;General 07-Sep-21
MONARCH A.G.M.;General 06-Sep-21 ZPRBHSTE A.G.M.;General 07-Sep-21
MRP A.G.M. 06-Sep-21 ADVANIHOTR General 08-Sep-21
NATIONALUM Final Dividend;General 06-Sep-21 AEL General 08-Sep-21
NOL A.G.M. 06-Sep-21 BODHTREE Quarterly Results 08-Sep-21
NTL A.G.M. 06-Sep-21 CRANESSOFT A.G.M. 08-Sep-21
NUVOCO Quarterly Results 06-Sep-21 GICRE General 08-Sep-21
PRADHIN General 06-Sep-21 HITECHGEAR General 08-Sep-21
PRECISION General 06-Sep-21 KWALITY Quarterly Results 08-Sep-21
RAJOIL A.G.M. 06-Sep-21 LLOYDSME General 08-Sep-21
STDSHOE General 06-Sep-21 MENAMANI A.G.M. 08-Sep-21
STRLGUA General 06-Sep-21 MUL General 08-Sep-21
SUCROSA A.G.M. 06-Sep-21 QGO General 08-Sep-21
SVPGLOB A.G.M. 06-Sep-21 REALECO A.G.M. 08-Sep-21
SYMBIOX General 06-Sep-21 REPRO Issue Of Warrants;Pref. Issue 08-Sep-21
TARINI A.G.M.;General 06-Sep-21 SHARMEH A.G.M. 08-Sep-21
TRANSFD A.G.M. 06-Sep-21 VINATIORGA General 08-Sep-21
UNISTRMU A.G.M.;General 06-Sep-21 WINDLAS Quarterly Results 08-Sep-21
VCU A.G.M.;General 06-Sep-21 ZBINTXPP General 08-Sep-21
VIVIMEDLAB Issue Of Warrants;Pref. Issue 06-Sep-21 AANCHALISP Quarterly Results 09-Sep-21
YASHCHEM A.G.M. 06-Sep-21 BRPL General 09-Sep-21
ALSL A.G.M.;General 07-Sep-21 BUDGE BUDGE Voluntary Delisting of Shares 09-Sep-21
ASYAINFO Audited Results 07-Sep-21 GAMMONIND Quarterly Results 09-Sep-21
BENARA A.G.M. 07-Sep-21 SUPRAP Preferential Issue of shares 09-Sep-21
COSPOWER A.G.M.;General 07-Sep-21 PNB General 10-Sep-21

Source: BSE, Elite wealth Research

Major Economy Indicators

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