IGI Logo

* Adani Enterprises: Adani Group's flagship company Adani Enterprises on Monday raised Rs.100 crore by allotment of non-convertible debentures on a private placement basis. Adani Enterprises shares witnessed positive sentiment today and the shares climbed by nearly 3%. The said MLD will be listed on the Wholesale Debt Market segment of BSE. The debentures have a face value of Rs.10 lakh each. The company allotted 1,000 Rated, Listed, Secured, Redeemable, Principal Protected Market Linked Non-Convertible Debentures (“MLD"). The debentures have a face value of Rs.10 lakh each.

* Nestle India: Nestle India Ltd, the local unit of the world’s largest food company, and other strategic and financial investors are in talks to buy a significant stake in nutritional snacks startup Yoga Bar, at least three people aware of the deal said. Nestle India has done due diligence, and further talks are on, one of the three said, requesting anonymity. ? Reliance Industries: Fair-trade regulator Competition Commission of India (CCI) on Monday approved the proposed merger of Jio Cinema OTT with Viacom18 Media. In April, Reliance Industries Ltd (RIL) and Viacom18 announced a strategic partnership with Bodhi Tree Systems, where Bodhi Tree will invest Rs.13,500 crore in Viacom18 while Reliance Projects & Property Management Services, a whollyowned subsidiary of RIL, will invest Rs.1,645 crore in the broadcaster as part of the tripartite partnership, to form one of the largest TV and digital streaming firms in India.

* ONGC: The oil ministry has sought a review of the two-and-a-half-month old windfall profit tax on domestically produced crude oil saying it goes against the principle of fiscal stability provided in contracts for finding and producing oil. The ministry, according to the letter, was of the opinion that the contracts have an inbuilt mechanism to factor in high prices as incremental gains get transferred in form of higher profit share for the government.

* Crompton Greaves/Butterfly Gandhimathi Appliances: Crompton Greaves will sell up to 10.73 lakh shares of its subsidiary Butterfly Gandhimathi Appliances, representing 6% of its total shareholding, on Sept. 20 and 21. The floor price is Rs 1,370 apiece, a discount of 9% from Monday’s closing price.

* Ircon International: The company has been awarded the work of detailed engineering and project management consultancy services for Development of Rail Infrastructure for proposed 02 nos. RLS for Ananta OCP of Jagannath Area at Talcher by Mahanadi Coalfields at total value of Rs 256 crore. The total duration for the project is 15 months.

* Natco Pharma: Delhi High Court has allowed the company to launch Chlorantraniliprole (CTPR) and its formulations, through its non-infringing process. CTPR technical is formulated into broad spectrum insecticides used across wide range of crops for pest management, it said in an exchange filing.

* Ashok Leyland: Ashok Leyland Ltd expects hydrogen-powered truck and buses to emerge as a self-sufficient green solution with commercial viability beginning in the next five years, at a time commercial vehicle makers prepare to invest in electric vehicles and natural gas and flexible fuel platforms.

* Dish TV: Yes Bank Ltd has upped the ante in its more than a year-long fight against Subhash Chandra-owned Dish TV India Ltd as the bank has approached the Bombay High Court to direct the satellite TV provider to conduct a special shareholder meeting.. On Monday, a division bench of the high court admitted the petition filed by Yes Bank, which is the largest shareholder in Dish TV, owning 24.78%. The court will hear the petition on Tuesday on whether Dish TV should conduct an extraordinary general meeting (EGM).

* Future Supply Chain Solutions: The board has called off the sale of its warehousing assets due to delay in regulatory approvals.

* Hatsun Agro: The company has approved rights issue of Rs 400 crore.

Global Market Update

Wall Street's main indices ended a seesaw session higher on Monday, as investors turned their attention to this week's policy meeting at the Federal Reserve and how aggressively it will hike interest rates. The Dow Jones Industrial Average rose 197.26 points, or 0.64 percent, to 31,019.68, the S&P 500 gained 26.56 points, or 0.69 percent, to 3,899.89 and the Nasdaq Composite added 86.62 points, or 0.76 percent, to 11,535.02

Crude Oil

Oil prices were little changed on Tuesday, after rising in the previous session, on concerns that interest rate hikes in the United States to tame inflation will curb economic growth and fuel demand in the world's biggest crude consumer. Brent crude futures for November settlement fell 7 cents, or 0.1%, to $91.93 a barrel by 0136 GMT. US West Texas Intermediate crude for October delivery was at $85.59 a barrel, down 14 cents, or 0.2 percent. The October contract will expire on Tuesday and the more active November contract was at $85.20, down 16 cents, or 0.2 percent.

SGX Nifty:

Trends in SGX Nifty indicate a positive start for the broader index in India with a gain of 131.50 points. The Nifty futures were trading around 17,755.50 levels on the Singaporean exchange.

Nifty Outlook:

Nifty opened gap up on Monday at 17541, made a high of 17667, made a low of 17430, and closed on a positive note at 17622 levels. For the day, support for the Nifty exists at 17480 and 17400 levels, whereas resistance for the Nifty stands at 17700 and 17800 levels.

Bank Nifty Outlook:

Bank Nifty opened gap down on Monday at 40686 made a high of 41184 made a low of 40510, and closed on a positive note at 40904 levels. For the day, support for Bank Nifty exists at 40500 and 40000 levels, whereas resistance for Bank Nifty stands at 41200 and 41500 levels.

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at www.investmentz.com/disclaimer
SEBI Registration number is INZ000186336

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer