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Market Opening - An Overview
Nifty futures on Singapore Exchange were trading 0.08% higher at 17,141, signalling that benchmark Indian indices was headed for a flat-to-positive opening on Wednesday.
India’s gross domestic product (GDP) grew at 20.1% in the April-June quarter of FY22, according to government data released in the evening on Tuesday.
The Indian rupee gained 28 paise to close at 73 against the US dollar on Tuesday.
Asian shares were trading higher in early trade on Wednesday. Japan’s Nikkei rose 1.27%, Topix was up 0.99%, China’s Hang Seng edged up 0.08% and broader index CSI 300 was 0.43% higher.
FII/DII trading data on Tuesday (31-08-2021)
| Category | Buy Value | Sell Value | Net Value |
| FII/FPI | 22832.93 | 18951.77 | 3881.16 |
| DII | 5991.84 | 7864.24 | (1872.4) |
| *All numbers are in INR crore | |||
Stocks in News Today
Maruti Suzuki: The automaker said the company expects total vehicle production in September across its plants to decrease to 40% of the normal output due to the semiconductor shortage. The company’s production capacity at Gurugram and Manesar plants in Haryana is around 15 lakh units per annum and it manufactured 1,70,719 units in July.
BHEL: Public-sector engineering company said it has secured an order of Rs 10,800 crore from NPCIL. The six orders which was received on August 30, 2021, proposes to set up four units of 700 MWe at Gorakhpur, Haryana, and two units of 700 MWe at Kaiga located in Karnataka.
Exide Industries: The company said it is planning to venture into producing lithium-ion batteries and the company is waiting for the Productivity Linked Incentive (PLI) details to come out to take the final decision. The Centre recently approved a PLI scheme on such batteries and the scheme outlaid Rs 18,100 crore for establishing 50 Giga Watt Hour (GWh) of lithium batteries.
Wipro Ltd: The IT services major said it has joined hands with HERE Technologies to offer location-based services to customers across industry verticals such as energy and utilities, manufacturing, transport and logistics, telecom, and automotive. In a statement, they said both the companies will be developing solutions in the areas of asset tracking, supply chain, smart-metering and analytics, field workforce management, and private mapping-as-a-service for indoor and outdoor real-time asset tracking.
REC Ltd: The company plans to raise Rs 85000 crore through an issuance of non-convertible bonds or debentures next month after getting necessary shareholder’s approval. The funds would be raised on private placement basis in one or more tranches and it has proposed to pass a resolution for raising those funds.
Shoppers Stop: The company has decided to sell its controlling stake in its wholly-owned subsidiary Crossword Bookstores at a gross business valuation of Rs 41.62 crore. The bookstore will be sold to the owners of Agarwal Business House (ABH) of Pune, according to a regulatory filing. Shoppers Stop will divest 51% stake that is likely to be completed within 15 days, and another 39% stake will be sold in the next 12 months after getting necessary approvals, it added.