Pre Market Analysis 01-10-2021

Market Opening - An Overview

Nifty futures on the Singapore Exchange were trading 0.95% lower at 17,434.50, indicating that Dalal Street is likely to open lower on Friday.

Asian shares fell tracking the Wall Street, while bonds rose amid concerns over rising inflation even after global growth has peaked. Japan’s Nikkei fell 2.01% and Topix plunged 2.03%. Hang Seng was down 0.36%, while CSI 300 was up 0.67%.

Indian rupee fell 8 paise to 74.22 against the US dollar on Thursday.

India’s core sector output that comprises of eight core industries has increased 11.6% in August, compared with the year-ago period, government data showed on Thursday.

FII/DII trading data on Thursday (30-09-2021)

CategoryBuy ValueSell ValueNet Value
*All numbers are in INR crore

Stocks in News Today

Maruti Suzuki: The company expects that the total vehicle production volume across two of its locations could be around 60% of normal production in the month of October due to the semiconductor shortage situation. The company’s Haryana plant and its contract manufacturing company, Suzuki Motor Gujarat Private, will see restrictions on production. 

Adani Group: The conglomerate has struck a deal with the state-owned Sri Lanka Ports Authority (SLPA) to develop and run the strategic Colombo Port’s Western Container Terminal. Adani Group will have a 51% stake at the port’s Western Container Terminal (WCT), the company said. The Group signed a build-operate-transfer (BOT) agreement with its local partner John Keells Holdings and the SLPA to develop the WCT at the Colombo Port, it added. 

Punjab National Bank: The lender has bought 1.8 crore shares of the proposed National Asset Reconstruction Company Ltd. It said the shares have been acquired at a cash consideration of Rs 10 per equity share and it is likely to complete the transaction by the end of the fourth quarter of this fiscal.

Zee Entertainment: The National Company Law Tribunal (NCLT) has asked Zee Entertainment and its board to consider the request from Invesco Developing Markets Fund and OFI Global China Fund, which has 18% stake in the company, to hold an extraordinary general meeting (EGM) of the company. The matter will be next heard on October 4.

Marico: The FMCG company plans to enforce a hybrid model of working for all employees from Friday. The company will offer greater flexibility to employees under the new ‘Ways of Work’ design, enabling majority of employees to work from the office at reduced frequency.

Emami: The company is looking for buyout opportunities that could be in healthcare and personal care segments. As part of its growth strategy, the company said it may also look at investing in new-age business including startups. The company has embarked on rural expansion drive under Project Khoj and it is looking at expanding rural footprint in the top 4 potential rural contributing States in FY22.

Mahindra & Mahindra Ltd: The company’s Managing Director and CEO Anish Shah supported the incentives provided to companies by the government for promoting ESG (environmental, social and governance) programmes. He added that climate change should not be seen as a potential disaster but “think of it as an opportunity”.

Bank of Maharashtra: The lender is dissatisfied with Videocon Group with respect to the breach of confidentiality in the insolvency resolution process of the debt-ridden group before the National Company Law Appellate Tribunal. During the proceedings, counsel appearing for the bank wondered as to how the bid amount of the successful resolution applicant Twin Star Technologies was so close to the liquidation value