Pre Market Analysis 05-10-2021

Market Opening - An Overview

SGX Nifty futures were trading 0.75% lower at 17,578.50, signalling that Dalal Street is likely to open gap-down on Tuesday.

Indian rupee fell 18 paise to 74.31 against the US dollar on Monday.

Asian shares were mixed as Chinese shares reversed earlier losses and was trading higher and Japanese markets were down, tracking the US markets fall on Monday due to inflation worries as oil prices rose. Japan’s Nikkei was plunged 2.77% and Topix fell 1.75%. China’s CSI 300 rose 0.67% and Hang Seng inched up 0.09%.

FII/DII trading data on Monday (04-10-2021)

CategoryBuy ValueSell ValueNet Value
*All numbers are in INR crore

Stocks in News Today

Zee Entertainment Enterprises: Invesco Developing Markets Fund, which is demanding the removal of Zee’s MD & CEO, Puneet Goenka, has asked the National Company Law Tribunal to pass a “mandatory order” directing Zee to call for an EGM as requisitioned by it. Invesco is also seeking the appointment of a retired high court judge to oversse the EGM.

Adani Group: The company’s founder Gautam Adani said his infrastructure conglomerate will invest about $50-70 billion in organic and inorganic growth opportunities across the entire energy value chain over the next 10 years. This will include investments with potential partners for electrolyzer manufacturing, backward integrations to secure the supply chain for our solar and wind generation businesses, and AI-based industrial cloud platforms.

Hindustan Zinc: The company said its mined metal production increased by 4% to 2.48 lakh tonnes in the second quarter of the ongoing fiscal due to higher ore production at Rampura Agucha, Sindesar Khurd and Zawar mines supported by improvement in recovery. The company’s mined metal production was at 2.38 lakh tonnes in the year-ago period.

Srei Infrastructure Finance: The Reserve Bank of India superseded the Board of Directors of Srei Infrastructure Finance and Srei Equipment Finance Limited due to concerns over its corporate governance and defaults by SREI Group Companies. The RBI has appointed Rajneesh Sharma, the former Chief General Manager at Bank of Baroda, as administrator. RBI will soon initiate the process of resolutions under the Insolvency and Bankruptcy Rules 2019 and apply to the NCLT for appointing the administrator as Insolvency Resolution Professional.

Unitech Group: The company’s founder Ramesh Chandra, his daughter-in-law Preeti Chandra and an executive of a company was arrested by the Enforcement Directorate in connection with a money-laundering probe against the real estate group and its promoters, officials said. They will be produced before a court on Tuesday by the Enforcement Directorate seeking their custody.

Coal India: The company has supplied 11.76 crore tonnes (MT) of coal to power utilities during July-September of the current fiscal, a growth of 12.3%. “We are rallying our efforts to restore normalcy as early as possible by pushing additional quantities. The demand is far outstripping the supplies now,” the company’s director of marketing S N Tiwary said.

Max Healthcare Institute: The company plans to invest about Rs 1600 crore to expand its capacity in the national capital region by adding around 1,000 beds in Gurugram, Haryana. The companys board has approved the investment expansion plan in a meeting held earlier.

Macrotech Developers: The Mumbai-based realty company said it has sold properties worth Rs 1100 crore in London last month and it expects to sell the entire inventory before FY24. The company added that the level of customer enquiries and visits has continued to rise and indicate the potential for continued strong sales performance in the current quarter.