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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Global Weekly Events
|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
|RBI Policy Rate||Policy Repo Rate||4.00%||4.00%|
|Reverse Repo Rate||3.35%||3.25%|
|Inflation Rate||Wholesale Price Index||11.16%||12.07%|
|Consumer Price Index||5.59%||6.26%|
|Trade Data||Export ($ Million)||33140||35340|
|Global Indices||Closing (3rdSep)||Change||%Change|
|Net Inflow (Cr)||FII||DII|
|Top Gainers||Closing Price||Prev Close||Chg (%)|
|Top Losers||Closing Price||Prev Close||Chg (%)|
|M & M||749.90||775.15||-3.26|
Source: Investing, NDTV, BSE, Business Standard,Moneycontrol,
Get Stock Market Recommendation By Our Research Analysts
- 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.
- 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.
- 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.
- 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)
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|
|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|
|EBFL||A.G.M.||06-Sep-21||MRSS||Preferential Issue of shares||07-Sep-21|
|KMSMEDI||Final Dividend;General||06-Sep-21||SPECMKT||Preferential Issue of shares||07-Sep-21|
|SYMBIOX||General||06-Sep-21||REPRO||Issue Of Warrants;Pref. Issue||08-Sep-21|
|VIVIMEDLAB||Issue Of Warrants;Pref. Issue||06-Sep-21||AANCHALISP||Quarterly Results||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|
Source: BSE, Elite wealth Research
Major Economy Indicators
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