Pre Market Analysis 06-09-2021

Market Opening - An Overview

Nifty futures on Singapore Exchange were trading 0.35% higher at 17,393, signalling that Dalal Street was headed for a positive opening on Monday.

The Indian rupee inched up to close at 73.02 against the US dollar on Friday.

Asian markets were higher in early trade on Monday as Japan’s Nikkie rose 1.75% and Topix was 1.14% up on news reports that the current prime minister will step down and as investors hoped disappointing US job data may delay tapering. China’s Hang Seng Index rose 0.25% and CSI 300 climbed 1.28%.

FII/DII trading data on Monday (03-08-2021)

CategoryBuy ValueSell ValueNet Value
*All numbers are in INR crore

Stocks in News Today

Reliance Industries Ltd: The company’s subsidiary Reliance Strategic Business Ventures Ltd has acquired a stake in genomic testing frim Strand Life Sciences Pvt Ltd for Rs 393 crore. An additional investment of up to Rs 160 crore is expected to be completed by March 2023. Strand, which was incorporated in 2006, is a pioneer of genomic testing in India with bioinformatics software and clinical research solutions to healthcare providers.

Dr Reddy’s Laboratories: The company has assigned a pact with US-based Citius Pharmaceuticals to sell its rights of an anti-cancer agent E777. The company will receive an upfront payment of $40 million from Citrus on closure of sale of E777. It will also receive a milestone payment of $40 million related to the approval of the CTCL indication and up to $70 million for additional indication approvals.

NTPC: The public sector enterprise will seek shareholders’ approval for raising Rs 18,000 crore through the issuance of bonds or debentures in its annual general meeting on September 28. The company also seeks to borrow to meet its working capital requirement and other general corporate purposes, which is partly proposed to be met through the issuance of non-convertible bonds, it added.

Jindal Steel and Power Ltd: The company said that more than 97% shareholders have approved the proposal to sell 96.42% stake in its arm Jindal Power for Rs 7,401 crore to its promoters owned firm Worldone. Out of total consideration, Rs 3,015 crore will be payable by cash, and the remaining amount of Rs 4,386 crore will be by way of assumption and takeover of liabilities and obligations of JSPL in relation to inter-corporate deposits and the capital advances paid by JPL to JSPL.

Mahindra & Mahindra Financial Services: The company has disbursed about Rs 2,150 crore in August as the business continued its momentum for the second time in a row. The company’s collection efficiency was at about 97% for August 2021, as compared to 95% in July 2021.

Barbeque Nation: The company said it has raised about Rs 100 crore from three different investors, including Massachusetts Institute of Technology through preferential issue of equity shares. The issue had an allotment of 11,77,855 fully paid-up equity shares of a face value of Rs 5 each at a premium of Rs 844.