Pre Market Analysis 06-10-2021

Market Opening - An Overview

Nifty futures on Singapore Exchange were trading 0.1% lower at 17,804.5, signalling that benchmark Indian indices are likely to open flat to negative on Wednesday.

Most Asian shares were lower in early trade on Wednesday as investors were concerned about rising energy costs that is likely to stoke inflationary pressures. Japan’s Nikkei 1% lower, Topix index was down 0.28%. Hang Seng dropped 1.02%, while CSI 300 was up 0.67%.

The Indian rupee ended 13 paise lower at 74.44 against the US dollar on Tuesday.

FII/DII trading data on Tuesday (05-10-2021)

CategoryBuy ValueSell ValueNet Value
*All numbers are in INR crore

Stocks in News Today

HDFC Bank: The private-sector lender unveiled its Festive Treats 3.0 campaign which will offer over 10,000 deals on cards, loans and easy EMIs. The bank said it has tied up with over 1000 merchants to offer deals to customers especially for their personal and business needs.

Zee Entertainment Enterprises: The National Company Law Tribunal (NCLT) directed Zee Entertainment Enterprises to submit a reply on a petition filed by Invesco and OFI Global China by October 7. NCLT said the matter of the dispute is related to whether the extraordinary general meeting (EGM) requisition is valid or not and it cannot give Zee ‘weeks and weeks’ of time for filing its reply to the same.

Reliance Industries: The conglomerate is planning to transform its energy business with a strategy to offer de-carbonisation solutions globally at a competitive price in a market potentially worth $5 trillion by 2030, according to Morgan Stanley report. “The strategy is to provide infrastructure in areas of hydrogen, integrated solar PV and grid batteries, which have high entry barriers, technological advances and good returns,” the report said.

Marico: The FMCG major said its revenue growth in the second quarter was in the low twenties, with volume growth close to double-digits on a 2-year CAGR basis due to improving demand trends. It said discretionary categories and out-of-home consumption also visibly picked up.

Future Retail: The company and US-based convenience store chain 7-Eleven has mutually terminated its franchise agreement as Future did not meet its target of opening stores and payment of franchise fees. Future in its regulatory filing said there will be no financial or business impact as the arrangement was at the subsidiary company level.

Arihant Superstructures: The realty firm plans to raise about Rs 500 crore through issuance of securities. The issue could be through private placement, preferential issue, qualified institutions placement (QIP), follow-on public offering (“FPO”), or a combination thereof, subject to shareholders approval.