SD Solutions

  Sectorally, selling pressure was seen in healthcare, realty, capital goods, banks, and capital goods sectors. Indian market reversed gains and fell into the red in the second half of the trading session weighed by weak domestic cues. The S&P BSE Sensex hit a high of 40,010, but reversed gains, touching the low of 38,395.89, while Nifty50 slipped to touch 11,325.85 on the downside in intraday trade. The S&P BSE Sensex closed 839 points, or 2.13 percent, down at 38,628.29 while the Nifty50 fell 260 points or 2.23 percent to 11,387.50 levels. The meeting between the Securities and Exchange Board of India (SEBI) with brokers, leading corporates, exchanges, and depositories on Monday has been concluded and the Sebi is ready to move into the new margin pledge and re-pledge system from September 1, 2020. The change in margin system and securities pledge-repledging could undoubtedly bring disruptions in volumes of daily trading as there is insufficien...

  From manufacturing to real estate, from hospitality to mining, all segments except agriculture in deep red as economy records sharpest drop in 41 years.   The Indian economy shrank 23.9 percent during the April-June quarter this year, confirming fears of a crippling slide across several industries and services that are profusely bleeding through multiple deep cuts caused by COVID-19-induced disruptions. National income accounts data released on August 31 showed that India's "real" or inflation-adjusted gross domestic product (GDP) contracted 22.6 percent, the sharpest drop in 41 years, compared to a growth of 8.1 percent in the same quarter last year. If GDP growth falls again in the current quarter (July-September), India would technically be in a recession, an economic state characterised by at least two successive quarters of contraction, underscoring the pandemic's bludgeoning impact on a country that until not-too-long-ago was the world's fastest gr...

  The deal is good news for lenders of Future Group who will now have secured outstanding loans protected as well as the retail ecosystem comprising small businesses and suppliers.    Reliance Industries Limited (RIL) on August 29 said it would buy retail and wholesale business, as well as the logistics and warehousing business of the Future Group, for Rs 24,713 crore.  The acquisition is being done as part of the scheme in which Future Group is merging certain companies carrying on the above-mentioned businesses into  Future Enterprises Limited (FEL). Here are the key takeaways from the deal:  1.     This deal cements the position of Reliance Retail as the undisputed leader in the organised retail segment and adds muscle to the ongoing battle with Amazon for the Indian e-commerce market.   2. The deal is good news for lenders of Future Group who will now have secured outstanding loans protecte...

  FPIs have turned their focus towards emerging markets like India also because these markets have been performing well and offer a good potential to generate better returns. Overseas investors remained net buyers in Indian capital markets in August so far, pumping in a massive Rs 47,334 crore on net basis as excess liquidity in the global markets and low interest rates drove money to emerging markets. According to the depositories data, the equities segment saw a net investment of Rs 46,602 crore while Rs 732 crore was invested in the debt segment by foreign portfolio investors (FPI) in August so far. The total net investment between August 3-28 stood at Rs 47,334 crore. Prior to this, FPIs were net buyers for two consecutive months. They invested Rs 3,301 crore in July and Rs 24,053 crore in June on net basis. "FPIs have invested over Rs 80,000 crore in equities since April this year. More than 50 percent of this investment took place in August itself," Harsh Jain...

  The shares were held by Gautam S Adani and Rajesh S Adani on behalf of SB Adani Family Trust and comprise 1.01 percent of the APSEZ share capital.   Promoters of Adani Ports and Special Economic Zone have pledged 206.09 lakh shares of the company in favour of Credit Suisse AG to raise Rs 430 crore for a group company, according to a regulatory filing. The transaction was done on Friday, Adani Ports and Special Economic Zone (APSEZ) said in the filing. The shares were held by Gautam S Adani and Rajesh S Adani on behalf of SB Adani Family Trust and comprise 1.01 percent of the APSEZ share capital. In a separate filing, APSEZ informed the bourses that the pledge was against the security for the borrowing by Adani Rail Infra Pvt Ltd amounting to Rs 430 crore. The value of shares being encumbered amounted to Rs 742.03 crore. The borrowed amount will be utilised for refinancing of existing indebtedness of the borrower availed for ultimate utilisation towards pr...

  The stock has gained over 27 percent in the last one month NMDC share price surged over 9 percent intraday on August 28 after the board approved to the proposal to demerge its NMDC Iron & Steel Plant in Nagarnar, Chhattisgarh. The Board of Directors of the company at their meeting held on August 27, 2020, have accorded in-principle approval to the proposal to demerge its NMDC Iron & Steel Plant (NISP) at Nagarnar in Chhattisgarh, the company said in an exchange filing. The stock has gained over 27 percent in the last one month and was trading at Rs 104.85, up Rs 8.85, or 9.22 percent. It has touched an intraday high of Rs 107.00 and an intraday low of Rs 99.80. It witnessed a spurt in volume by more than 3.54 times and was trading with volumes of 1,092,796 shares, compared to its five day average of 218,675 shares, an increase of 399.74 percent. NMDC's profit after tax for the first quarter ended June 30 slumped by 55 percent to Rs 533 crore as both productio...

  Max India resumed trading on BSE and NSE on August 28. The company, earlier known as Advaita Allied Health Services Limited, is a part of the $3-billion Max Group. Even as the broader market sentiment was bullish, shares of Max India fell 5 percent on BSE on the day of its relisting. The stock debuted at Rs 80 on BSE but fell 5 percent soon to touch its lower price band at Rs 76 on August 28. Max India resumed trading on BSE and NSE on August 28. The company, earlier known as Advaita Allied Health Services Limited, is a part of the $3-billion Max Group. The new Max India is the holding company of Max Group’s senior-care business Antar and the skilling company Max Skill First. The relisting of Max India follows Max Healthcare’s listing last week. In a media release, the company said listings are the outcome of a comprehensive scheme announced last year that involved a series of transactions, including the demerger of KKR-backed Radiant Lifecare’s assets into Max ...

  Ahuja held 99,02,900 shares or 1.95 percent stake in the bank as of the quarter ending June 2020. RBL Bank Managing Director and CEO Vishwavir Ahuja sold 18,92,900 shares of the company on August 27-28 for around Rs 38.52 crore, the bank said in an exchange filing. He sold the shares to service personal debt obligation as well as to meet some family commitments. "The sale has been driven primarily with the need to extinguish personal debt obligations and related servicing burden, undertaken over the last few years mainly to exercise and purchase vested ESOPs (and pay associated tax), as well as to take care of some pressing family commitments. The sale represents approx. 18 percent of his/family's total holdings and Ahuja continues to retain 80,10,000 shares (approx 1.6 percent holding) of RBL Bank post the sale of these shares," the bank said. As per the release, after the sale, Ahuja still holds an approximate 1.6 percent stake i...

  The firm has got the nod for empagliflozin and linagliptin tablets. Empagliflozin is indicated to reduce the risk of cardiovascular death in adults with type 2 diabetes. Alembic Pharmaceuticals share price gained 3 percent intraday on August 27 after the pharma company received a tentative nod for the US drug regulator for empagliflozin and linagliptin tablets. The company has received US Food & Drug Administration (USFDA) tentative approval for empagliflozin and linagliptin Tablets, 10 mg/5 mg and 25 mg/5 mg. Alembic now has a total of 130 ANDA approvals (113 final approvals and 17 tentative approvals) from the FDA, the company said in an exchange filing. Empagliflozin is indicated to reduce the risk of cardiovascular death in adults with type 2 diabetes mellitus and established cardiovascular disease. However, the effectiveness of empagliflozin and linagliptin tablets in reducing the risk of cardiovascular death in adults with type 2 diabetes mellitus and ca...

  UBS has a target price for IndusInd bank at Rs 675 and for SBI at Rs 260. Shares of IndusInd Bank surged over 9 percent while those of State Bank of India (SBI) climbed over 3 percent in intraday trade on BSE on August 27 after the global financial firm UBS upgraded the stocks to 'buy' from 'sell'. "Bank stocks are down 12-62 percent year-to-date and have underperformed the broader markets. We think the sector’s downside risks are limited and upgrade IndusInd Bank and SBI from sell to buy," UBS said in a note. UBS has a target price for IndusInd bank at Rs 675 and for SBI at Rs 260. "We reduce FY21E GNPL formation and credit costs but raise our NIM estimates, resulting in a 17-115 percent lift in FY21E earnings for the banks we cover. Our estimates are 4-30 percent higher than consensus for select coverage banks," UBS said. "Stocks are trading below the five-year average and we expect most of the banks to trade near their five-year ave...

  Rekha Rakesh Jhunjhunwala will likely be issued up to 50 lakh shares for Rs 80 crore, Basera Home Finance Private Limited will pick up 15 lakh at Rs 24 crore and Sushma Anand Jain & Anand Jai will get 10 lakh shares at Rs 16 crore. VA Tech Wabag is planning to raise Rs 120 crore from three marquee investors, including Rekha Jhunjhunwala (wife of ace investor Rakesh Jhunjhunwala). In an exchange filing, the Chennai-based water and sewage treatment company said its board had considered equity infusion on a preferential basis at Rs 160 apiece, which is at 30 percent discount to the stock’s closing price on August 25. Rekha Rakesh Jhunjhunwala will be issued up to 50 lakh shares for Rs 80 crore, Basera Home Finance Private Limited will pick up 15 lakh at Rs 24 crore and Sushma Anand Jain and Anand Jai will get 10 lakh shares at Rs 16 crore. "This is the first time the company has proposed to raise equity capital since its IPO in 2010 and w...

  The 31 companies where FIIs have pared their holdings include Infosys, HDFC, ICICI Bank, ITC, Bharti Airtel, Bajaj Finserv, Titan Company, Eicher Motors and Tata Steel. Foreign institutional investors (FIIs) pared stake sequentially in some of the prominent large-cap companies in the June quarter, data from AceEquity showed From the universe of companies having a market capitalisation of more than Rs 50,000 crore, there are as many as 31 names in which FIIs pared their holdings. These include Infosys, HDFC, ICICI Bank, ITC, Bharti Airtel, Bajaj Finserv, Titan Company, Eicher Motors and Tata Steel. Out of 31 companies, 19 have been trading lower so far in 2020. These include SBI, Coal India, ITC, Tata Steel, Tech Mahindra and IOC. The rest 11 companies have given positive returns in 2020 so far, including Divi’s Laboratories, Dr. Reddy’s Laboratories, Infosys, Britannia, and HCL Technologies. Does that me...

  The share touched its 52-week high of Rs 201.80 on January 15, 2020 and 52-week low of Rs 63.60 on March 24, 2020. Tata Motors share price rose nearly 6 percent intraday on August 25 after the company said it proposed to reduce its debt to near-zero levels. At the annual general meeting of the Tata Motors on August 25, N Chandrasekaran, Chairman of the Tata Group, said the company had a net automotive debt of Rs 48,000 crore and was targetting to reduce it to near-zero levels in three years, CNBC-TV18 reported. The investments in the company had reduced to 50 percent this fiscal, he added. JLR would be cash-positive this year, while India PV business was being subsidiarised to a new legal entity, Tata Motors CFO said at the AGM. The focus of the passenger vehicle business would be entirely on the front-end. It generated highest ever profitability in FY19, which got impacted by COVID-19, he added. Tata Motors share price was quoting at Rs 127.10, up Rs 5.90, or ...

  Most of the stocks in which fund managers raised stake in the June quarter are from the small & midcap space belonging to chemical and pharma sectors. Fund managers were quick to spot the beaten-down stocks and raised stake in as many as 287 companies in the June quarter, data from AceEquity showed as on August 13. Out of 287, there are 10 companies whose stocks have rallied more than 100 percent so far in 2020. These are Aarti Drugs, Laurus Labs, Granules India, Alkyl Amines, Tata Communications, Navin Fluorine, Birlasoft, Aurobindo Pharma, Vaibhav Global and Neuland Laboratories. Most of the stocks in which fund managers raised stake in the June quarter are from the small & midcap space. After a sharp sell-off in March, the broader market was first to bounce back to show signs of strength. Most of the companies which have doubled in 2020 belong to either the chemical sector or companies that manufacture...

  The share price surged 47 percent in the last 3 months.   Steel Strips Wheels share price rose more than 3 percent intraday on August 24 after the company bagged export orders from Europe and the US. The company has bagged firm export orders for over 3,200 wheels for EU Truck and US Mobile Home Market to be executed in September from its Chennai plant. Total value is around $57,000 and similar orders are expected in times to come from other regular customers as the market regains normalcy. At 11:35 hrs Steel Strips Wheels was quoting at Rs 486.85, up Rs 11.35, or 2.39 percent on the BSE. The share touched its 52-week high Rs 798 and 52-week low Rs 317.35 on 20 September 2019 and 20 May 2020, respectively. Currently, it is trading 38.99 percent below its 52-week high and 53.41 percent above its 52-week low. The share price surged 47 percent in the last 3 months.