Stock market essentials for August 25: DreamFolks IPO fully subscribed on Day 1

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Events Today

Power Mech: board meet to consider fund raising from promoter

Dreamfolks Services IPO Day Two

IPO subscribed 1.96x on Day 1

AGM:

Indian Oil Corporation (10 a.m.)

Apollo Hospitals (10:15 a.m.)

Max Financial Services (10:30 a.m.)

Clariant Chemicals India (4 p.m.)

LG Balakrishnan (10:30 a.m.)

Manappuram Finance (11 a.m.)

Max India (12 noon)

NHPC (12:30 p.m.)

Solara Active Pharma (9:30 a.m.)

Oil & Gas Updates

Brent Crude at $102/bbl Vs $100/bbl

Singapore GRM at $11.8/bbl Vs $13.8/bbl

Asia Spot Gas prices at $66.3/mmBtu Vs $56.3/mmBtu

Corporate Action

Nil

DII/FII data

FIIs net bought worth Rs 23.19 cr of shares on Aug 24 (prov)

DIIs net sold worth Rs 322.34 cr of shares on Aug 24

FII F&O Cash Data:

Index futures net sell Rs 1329 cr

Index options net buy Rs 2708 cr

Stock futures net sell Rs 2239 cr

Stock options net buy Rs 306 cr

Total FII net sell Rs 554 cr in F&O

F&O Ban

Addition:- RBL Bank

Bulk/Block Deal

RBL Bank

COLLEGE RETIREMENT EQUITY FUND bought 45.8lk shares @ 108.8

SHARE INDIA SECURITIES net bought 1.7lk shares @ 117

GRAVITON RESEARCH CAPITAL net sold 10k shares @ 115

HRTI PRIVATE LIMITED net sold 1.7lk shares @ 112

TOWER RESEARCH CAPITAL MARKETS net sold 1.2lk shares @ 113

Corporate Announcements

NHPC

Signed MoU between Govt of Rajasthan and NHPC Renewable Energy Ltd for Development of Ultra Mega Renewable Energy Power Park in Rajasthan

Barbeque-Nation Hospitality

ICRA upgraded credit rating for the bank facilities long term scale to A Stable

PB Fintech

Approved investment $4M in shares of YKNP marketing management

Approved further investment upto Rs 250cr in unit Paisabazaar marketing and consulting

Approved further investment Rs 650cr in Policybazaar Insurance brokers

Adani Enterprises

Incorporated Hirakund Natural Resources Ltd and Vindhya to carry on business in Mining of Coals and Other Minerals

PSP Projects

Awarded contracts worth Rs 247.35 Cr from Precast and Government segments.

Total order inflow for FY 22-23 till date amounts to Rs 1,344.24 Cr

REC

Entire shareholding of Neemuch Transmission Ltd presently held by REC Power Development & Consultancy, has been transferred at par value along with all its assets and liabilities to Power Grid Corp

Bharti Airtel

SingTel to sell 3.3% direct stake in Bharti Airtel to Bharti Telecom. SingTel directly owns close to 13.9% stake in Bharti Airtel through Pastel and Viridian. SingTel to realise $1.61 billion from selling 3.3% stake. Sale to happen any time before November 23, 2022. According to our calculations, sale of shares is happening at Rs 650/share value

Lupin

Acquires brands Ondero and Ondero Met from Boehringer Ingelheim International GmbH for EUR 26 million. The brands relate to medicines for the diabetic segment. Value creation is expected for Lupin’s diabetic portfolio.

Amara Raja

To invest Rs 77 crore in Log 9 Materials Scientific for 4.55% stake.

Manufacturing industry – Log 9 is currently having competencies across materials, electrode, cell, and pack level fabrication of energy storage technologies.

Yes Bank

Shareholders fully support all resolutions proposed in EGM related to fund raise.

BEML

Record date for demerger is set as September 9

Others

Alkem Labs Mgmt Meet Takeaways: Edelweiss

Maintain growth guidance of 12–14% in domestic business despite a ‘high FY22 base’

Chronic gaining traction; focus remains on targeting specialists

Strategy for the US is to rationalise the number of filings and maximise launches in the first wave

Gross margin, impacted by many factors, should turn around in H2

Top-line growth of ~12%, 16–16.5% EBITDA margin in FY23E

Tata Power Analyst Meet

Sets targets of 4x growth in RE development portfolio and 3.5x/6.5x/7x growth in utility/EPC/rooftop solar/solar pumps businesses

Exuded confidence about the paradigm shift in the power sector landscape

Laid out Rs 1 lakh crore 5-year mega capex plan, leaning on RE and T&D, keeping leverage under check at 1.5x

On EV charging, doing well with new tie-ups/partnerships; utilisation beyond 10% is key to boost profitability, especially in public chargers

On distribution, likely introduction of the Electricity Amendment Act could be a game changer to bring discipline in the sector and pave the way for bigger privatisation opportunities

On American Express

RBI lifts business restrictions imposed on American Express

RBI restrictions lifted for onboarding of new customers

RBI had imposed restrictions on American Express due to violation of storage data norms

Alert: RBI lifted similar restrictions on MasterCard in June

From Economic Times

Torrent Pharma

To buy Curatio Healthcare at Rs 2,100cr valuation

Deal expected to be signed in two weeks

Deal marks exit of ChrysCapital, Sequoia, the promoters and management

Eris Lifesciences

Scouting for acquisitions to diversify business

Plans to buy company’s in neuro and derma segment

Co open to acquiring standalone brand

Co is net debt free

Omaxe

Buy 50 acre land from Delhi Development Authority for Rs 2100cr

From Reuters

India to Promote Rupee-Settled Deals to Boost Russia Trade

India may give incentives to export trades settled in rupees to increase the sales of goods to Russia. The most likely move would apply a current program for trades using fully convertible currencies such as the dollar and the euro to the rupee.

Many Oil Traders Halt Dealing With Nayara Energy

Many global oil traders and banks halted dealing with Nayara Energy, a Rosneft affiliate in India. Traders are concerned about Western sanctions. Trading firms such as Vitol and Glencore are among firms declining to sell crude directly to Nayara.

Phillips 66, Occidental Petroleum Corp, Cepsa, Equinor, Gunvor, Koch, Petrogal, Respsol, Shell, Suncor Energy, Ecopetrol, and TotalEnergies, among other firms declining to deal with Nayara.

Citigroup, Morgan Stanley, BNP Paribas, JPMorgan, among banks refusing to work on new hedging positions.

Insiders

Companies Category No. Of Shares Activity
CL Educate Promoter & Director 1,682 Bought
Ujjivan Financial Designated Person 2,000 Bought
Solara Active Directors Immediate Relative 3,000 Bought
Vaibhav Global Promoter 4,000 Bought
Mrs. Bectors Promoter Group 9,000 Bought
NCL Industries Promoter Group 13,797 Bought
VIP Clothing Promoter Group 19,500 Bought
Godrej Agrovet Promoter 46,908 Bought
Eclerx Employee Trust 2,893 Sold
IIFL Wealth Employee 3,656 Sold
Campus Activewear Designated Person 4,000 Sold
eMudhra Ltd KMP 4,000 Sold
Bajaj Electricals Designated Person 5,625 Sold
Welspun Corp Designated Person 7,000 Sold
Nippon Life Designated Person 10,000 Sold
CG Consumer Designated Person 15,000 Sold
Firstsource Designated Person 28,000 Sold
Vaibhav Global Others 35,418 Sold
UNO Minda Designated Person and Director 39,632 Sold
Mahindra CIE Director 55,263 Sold
Tejas Networks Director and Designated Person 272,464 Sold
Geojit Financial Promoter 280,000 Sold
Uflex Promoter Group 50,000 Pledge Release
Mangalore Chemical Promoter 1,000,000 Pledge Release

Analyst Meetings

Aptus Value Housing meeting with KC Capital on 25 Aug

Supreme Petrochem meeting with I-Wealth Management LLP on 25 Aug

Greaves Cotton meeting with Analyst & Investors on 25 Aug

Medplus Health services meeting with host of investors on 25-26 Aug

Biocon met host of investors on 23 Aug

Piramal Enterprises meeting with investors on 29 Aug

Kirloskar Industries meeting with investors/ analyst held on 23 Aug

Eicher Motors meeting with analyst/investor on 25 & 29 Aug

MCX meeting with DAM Capital Advisors on 25 Aug

Adani Total Gas meeting with investors on 25 Aug

IndusInd Bank meeting with host of investors on 24 Aug

CG Power and Industrial Solution meeting with HDFC Life 26 Aug, Aditya Birla Sunlife AMC & Edelweiss Securities on 2 Sept

Vardhaman Special Steel meeting with Catamaran Ventures on 25 Aug

Star Health meeting with Uluwatu Limited, Citigroup Global Markets on 24 Aug

CRISIL meeting with Jeetay Investments 25 Aug, Matthews Asia Fund 30 Aug

Data Patterns meeting with Kotak PMS on 25 Aug

Persistent Systems met host of investors on 23 Aug

IDFC first bank meeting with DAM Capital on 24 Aug

ICICI Pru Life meeting with SPARK Capital, FACT Capital on 24 Aug

R System International meeting with earning call 24 Aug

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