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Market Opening - An Overview
Nifty futures on Singapore Exchange were trading 0.33% lower at 17,324.50, signalling that Dalal Street was headed for a negative start on Thursday.
Asian shares were trading lower, tracking Wall Street losses over economic recovery concerns. Japan’s Nikkei and Topix fell 0.46% and 0.48%, respectively. China’s Hang Seng dropped 1.49% adn CSI 300 fell 0.59%.
The Indian rupee slipped 17 paise to 73.60 against the US dollar on Wednesday.
FII/DII trading data on Wednesday (08-09-2021)
| Category | Buy Value | Sell Value | Net Value |
| FII/FPI | 8772.31 | 9574.82 | (802.51) |
| DII | 5390.91 | 5390.31 | 0.60 |
| *All numbers are in INR crore | |||
Stocks in News Today
SBI Life Insurance: Canada Pension Plan Investment Board is planning to sell a 2% stake in the company on Thursday, according to terms of the deal. The shares will be offered in the range between Rs 1,159 and Rs 1,220 apiece and the share sale will fetch Rs 2,440 crore at the top end of the price band.
Jindal Steel and Power: The company has made a pre-payment of USD 106 million (about Rs 777.4 crore) to the lenders of its arm Jindal Steel & Power (Australia) Ltd. The steelmaker said the pre-payment has helped the company reduce the “Australian debt” by approximately 50%. The company is now planning to clear all its overseas debt in the coming quarters, the statement said.
Century Plyboards: The company is targeting to grow at 20 per cent over the next three years, its chairman Sajjan Bhajanka said. He added that the company intends to expand their Hoshiarpur MDF (medium density fiberboard) facility by adding another line with a capacity of 400 cubic meters per day involving a capex of around Rs 200 to 220 crore, which should go on stream in the first quarter of FY23.
IRCTC: The company is planning to start India’s first indigenous cruise liner from September 18. “”IRCTC has joined hands and signed the agreement with Cordelia Cruises being operated by M/s Waterways Leisure Tourism Pvt. Ltd for promotion and marketing of the first indigenous luxury cruise in India,” it said in a statement.
India Cements: The company said it hopes to pay similar levels of debt it had paid last year due to the impact of the Covid-19 pandemic. The company repaid Rs 551 crore as debt in FY21, its vice-chairman N Srinivasan said. He said that cement consumption would go up due to increased spend on infrastructure projects by the Central government.
Shoppers Stop: The company inked pact with global IT services company Accenture to accelerate its digital commerce transformation across retail channels, a joint statement said. The programme plans to enhance customer experience and profitability, as well as support Shoppers Stop’s goal of being the go-to digital destination, it stated.
UCO Bank: RBI has removed the public-sector lender out of prompt corrective action (PCA) restrictions and the bank will no longer be subject to stricter lending rules. The bank has provided a written commitment to comply with the norms of Minimum Regulatory Capital, Net NPA and Leverage ratio.