Although Stock Market Indices are all-time high, on Friday Market opens up with Gap - Down of around 185 points following Global Cues. Finally, NIFTY closes at 16,450 while SENSEX ends at 55,329.
Metals, Capital Goods and Realty sectors fell the most while FMCG was the only gainer led by HUL. Midcap and Smallcap indices fell close to 2% underperforming the Nifty.
1) Reliance in deal with Saudi Aramco to sell it's stake:
Saudi Aramco is in advanced talks to acquire a roughly 20% stake in Reliance Industries Ltd.'s Oil refining and chemicals business for about $20 billion to $25 billion in Aramco's shares. Reliance had announced a stake sale to Aramco back in 2019 for $15 billion.
(Saudi Arabian Oil Company or Saudi Aramco is a public petroleum and natural gas company based in Dhahran, Saudi Arabia. It is one of the largest companies in the world in terms of consolidated revenue.)
2) WPI inflation eases to 11.16% in July; food, crude prices soften.
WPI is a price index that represents the wholesale price of goods.
Last month, the WPI Inflation stood at 12.07%. It has marginally lowered in July as inflation in fuel and power stood at 26.02% in July as compared to 32.83% in June.
The Food Index posted an inflation rate of 4.46% as compared to 6.66% in June.
3) HDFC Bank announced that it is planning to raise capital by issuing additional tier- I (AT1) bonds in the overseas market to fund its business growth.
HDFC has launched green and sustainable deposits that will be directed towards financing of green and sustainable housing credit solutions and services.
4) Tata Motors has partnered with Bank of Maharashtra to offer retail financing schemes for its range of passenger vehicles.
5) Indian Oil Corporation: IOC mentioned that under CSR activities, it will award a one-time support of Rs 10,000 and a certificate to 2,250 Class-10 topper girls from all states and central boards.
a) Devyani International shares listed at 56% premium at Rs 140.90 on NSE and Rs 141 on BSE against the issue price of Rs. 90..
The IPO was subscribed 116.70 times. Retail Investors had subscribed to the issue 39.47 times the reserved portion.
b) Krsnaa Diagnostics shares listed at 5% premium at Rs 1,005.5 per share on the NSE and with a 7.44% premium at Rs 1025 on the BSE against issue price of Rs. 954.
The IPO was subscribed 85.71 times. Retail Investors had subscribed to the issue 41.93 times the reserved portion.
c) Windlas Biotech listed at nearly 5% discount on the bourses. It opened at Rs 437 on the NSE and at Rs 439 on the BSE against issue price of Rs. 460.
The IPO was subscribed 22.44 times. Retail Investors had subscribed to the issue 24.21 times the reserved portion.
d) Exxaro Tiles listed at Rs 126 on both BSE and NSE - a 5% premium over its issue price of Rs. 120.
The IPO was subscribed 22.65 times. Retail Investors subscribed to the IPO 40.03 times the reserved portion.
e) CarTrade shares of the company listed at Rs 1,600 per share on BSE and Rs 1,599 per share on NSE - recording a 1.11% discount against issue price of Rs. 1618.
The IPO was subscribed 20.29 times. Retail Investors had subscribed to the issue 2.75 times the reserved portion.
7) Tata Steel is interested in buying Rashtriya Ispat Nigam Limited (RINL), the company's (CEO) and managing director T V Narendran mentioned.
Tata Steel has commissioned its first steel recycling plant in Rohtak, Haryana.
Tata Steel is likely to prepay loans to the tune of Rs 4,700 crore in the next two quarters, a media report stated.
8) NTPC has threatened to cut power supply from NTPC’s power plants in UP owing to outstanding dues of over Rs 10,500 crore that have not been cleared by Uttar Pradesh Power Corporation.
9) HCL Tech has signed a five-year, end-to-end IT transformation services deal with German multinational chemical company Wacker Chemie AG.
10) Suven Life Sciences announced that NCE SUVN-502 (Masupirdine), a potent, selective, brain penetrant and orally active, novel chemical entity has planned initiation of global Phase 3 clinical trial for the treatment of agitation and aggression in Alzheimer’s type dementias with expected enrollment of patients from middle of Sep-2021.
11) Lupin received tentative US FDA approval for Brivaracetam Tablets: Lupin announced that it has received tentative approval from the US FDA for its Abbreviated New Drug Application (ANDA) Brivaracetam Tablets, 10 mg, 25 mg, 50 mg, 75 mg, and 100 mg, to market a generic equivalent of Briviact Tablets of UCB Inc. This product will be manufactured at Nagpur facility in India.
Brivaracetam Tablets are indicated for the treatment of partial-onset seizures in patients four years of age and older. Brivaracetam Tablets had estimated annual sales of US$ 311 million in the US (IQVIA MAT June 2021).
Lupin's institutional shareholders have reportedly rejected a proposal for granting 6 million stock options to its employees.
12) Adani Road Transport Ltd (ARTL), a wholly-owned subsidiary of Adani Enterprises Ltd (AEL), on Monday announced that it will be acquiring Maharashtra Border Check Post Network Ltd (MBCPNL), a subsidiary of Sadbhav Infrastructure Project Limited (SIPL) at an enterprise value of ₹1,680 crore.
The gateway connects Maharashtra with 6 neighboring states, will cover over 20% of the commercial road traffic in India. It has 24 integrated check posts with exclusive service fee collection rights from commercial vehicles for all key traffic routes in and out of Maharashtra.
13) RBI allows HDFC Bank to issue new credit cards after 8 months of ban:
The Reserve Bank of India has partially lifted the credit cards ban that it had imposed on HDFC Bank in December 2020.
Due to repeated outages in HDFC Bank’s online platforms, the RBI had barred the bank from launching any new digital products or services and issuing new credit cards.
HDFC Bank’s MD Sashidhar Jagdishan mentioned that the bank has done all preparations to come back “with a bang” in the credit cards business.
14) Domestic LPG cylinder gets costlier
The price of domestic LPG cylinder has been hiked by Rs 25 with effect from August 17.
Now, a non-subsidised 14.2 kg LPG cylinder will cost Rs 859.50 in Delhi and Mumbai, Rs 886 in Kolkata and Rs 875.50 in Chennai. The price will differ from one state to another due to local taxes.
15) SpiceJet has decided to transfer its logistics business to its subsidiary SpiceXpress and Logistics.
16) Hindustan Aeronautics (HAL) has signed a contract worth ₹5,375 crore with US-based GE Aviation to procure 99 F404-GE-IN20 engines and support services for the Tejas light combat aircraft (LCA). The engine are to be delivered by 2029. "This is the largest ever deal and the purchase order placed by HAL for LCA," R Madhavan, CMD, HAL said.
Pizza Hut announced that it is collaborating with FMCG Major Hindustan Unilever Limited (HUL) to add their bestselling Kwality Wall's desserts including ice creams, to its own dine-in and takeaway menu.
17) IndiGo has announced that it will resume flights between India and UAE from 1.30 AM on August 20. UAE had earlier banned IndiGO flights till August 24.
18) AU Small Finance Bank: The bank has received approval from its shareholders for raising equity and debt capital totalling up to Rs 14,500 crore.
19) UltraTech chairman Kumar Mangalam Birla mentioned that the company plans to invest close Rs 6,500 crore on a growth plan to increase capacities by 19.8 million tonnes in the next two fiscal years.
20) Zydus Cadila's DNA vaccine approved for emergency use in India:
ZyCoV-D is the world's first DNA based vaccine for this virus that can be administered to children below 12 years of age as well. This is a 3-dose needle-free vaccine.
21) Hurun Global 500 lists 12 Indian Companies this year:
Hurun Global 500 is a list of the 500 most valuable non-state controlled companies in the world. The list is released by the Hurun Research Institute which is based in Shanghai and Mumbai.
Amongst the Indian companies, Reliance topped the list with a valuation of $188 billion, followed by TCS and HDFC Bank. Wipro, Asian Paints and HCL Technologies entered the list for the first time this year.
Overall, Apple topped the list. Apple, Amazon, Alphabet and Microsoft marked a combined value of nearly $8 trillion.
22) Mahindra & Mahindra Financial Services: The company has appointed Mallika Mittal as the Chief Risk Officer for a tenure of five years with effect from November 9, 2021.
23) Wipro won two awards at the inaugural Engineering Innovation and Excellence Awards organized by NASSCOM.
24) Natco Pharma: A US district court has ruled against Natco Pharma and its partner Alvogen in a patent litigation. The company mentioned that it will review the judgement and evaluate all options to appeal the judgement.
25) Coal India: A trade union of Coal India Ltd (CIL) has asked the company to increase the superannuation age of employees to 62 years from the current 60 years.
26) IndusInd Bank: Acting on a complaint lodged by IndusInd Bank, the Hyderabad police has arrested Karvy Stock Broking Ltd (KSBL) chairman C Parthasarathy on allegations of concealing facts.
27) Union Cabinet approves Rs 11,040 crore National Mission on edible oils-oil palm
Currently, India has only 3.70 lakh hectares of land under oil palm cultivation, and with the new mission, the government plans to increase it to 10 lakh hectares.
28) Tata Elxsi has collaborated with DStv Media Sales, a globally recognised and awarded media sales organisation and part of MultiChoice Group, to consult and collaboratively build a vision for DStv Media Sales (DMS) that addresses current challenges while also positioning DMS for future growth. DMS specializes in advertising on DStv's digital platforms, linear channels, and GOtv.
29) TCS Launches New Google Cloud Garages for Enterprise Customers: Tata Consultancy Services (TCS) is expanding its strategic partnership with Google Cloud with the launch of Google Garages at its TCS Pace Port™ co-innovation and advanced research centers in Amsterdam, New York and Tokyo.
30) Oil and Natural Gas Corp (ONGC) invited bids from private companies for handing over operations of 43 small and marginal oil and gas fields with a view to raising production.
31) Gail (India) has issued a tender seeking to buy a liquefied natural gas (LNG) cargo for delivery into India and offering a cargo for loading from the United States.
It is seeking the cargo for September delivery into Dahej, India and has offered a cargo for loading from the Cove Point plant in the United States during March 4-6.
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