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Market Opening - An Overview
Nifty futures on the Singapore Exchange were trading 0.08 per cent, lower at 17,357.50, signalling that Dalal Street was headed for a flat to negative start on Monday. Investors also await India’s inflation data which will be released in the evening.
Asian shares opened lower in early trade on Monday, tracking Wall Street indices, as investors were worried over inflation ticking up. Japan’s Nikkei and Topix slipped 0.29% and 0.19%, respectively. China’s Hang Seng and CSI 300 indices fell 1.60% and 0.11%, respectively.
The Indian rupee gained 10 paise to close at 73.50 against the US dollar on Thursday, last week.
FII/DII trading data on Thursday (09-09-2021)
| Category | Buy Value | Sell Value | Net Value |
| FII/FPI | 10253.03 | 9829.59 | 423.44 |
| DII | 5229.6 | 4525.39 | 704.21 |
| *All numbers are in INR crore | |||
Stocks in News Today
Reliance Industries: The company’s telecom arm Jio has postponed the launch of its low-cost smartphone, to Diwali, due to semiconductor shortage. The smartphone, Jio Phone Next, which is designed along with Google, has an optimised operating system based on Android and Play Store.
Emami: The FMCG company said it plans to maintain decent margins in FY22 on the back of stringent cost control and volume led growth. The company said it will be able to absorb rise in raw material costs through higher operational efficiency and judicious price increases.
Godrej Consumer: The company is targeting a double-digit growth in the current fiscal with expansion across segments, said Sunil Kataria, GCPL CEO – India and SAARC. The company has tapped new age channels such as e-commerce along with chemist and pharmacy stores which have emerged as important touchpoints for the customer buying FMCG products, after the pandemic.
Coal India: The mining company is likely to increase prices of the dry fuel by at least 10-11% to lessen the impact of increased costs and an impending wage revision, sources close to the development said. The company has informally discussed the matter with board members and it is awaiting the government’s nod following which the miner will take the final call.
Indigo Airlines: The airlines owned by InterGlobe Aviation said it is aiming to operate at full capacity from December 2021, according to news reports. It is also aiming to cover two-thirds of the international routes that was operated during the pre-pandemic period.
Escorts Ltd: The tractor maker is hopeful of a double-digit growth in tractor sales in FY22, after witnessing good volume in the first quarter, according to Escorts Group Chief Financial Officer and Corporate Head Bharat Madan. However, it is expecting some slowdown as a result of increase in commodity prices resulting in higher cost of tractors.
Granules India: The drugmaker has recalled over 1.14 crore of its Naproxen Sodium tablets, a non-steroidal anti-inflammatory drug used to treat pain, menstrual cramps, inflammatory diseases such as rheumatoid arthritis, gout and fever in the US. According to USFDA, the Granules’ US-based unit is recalling the affected lot due to “Current Good Manufacturing Practice deviations”.
Punjab National Bank: The lender’s board has approved raising of capital of about Rs 6,000 crore through issuance of Basel-III compliant Additional Tier-1 (AT-1) Bonds and Additional Tier-II bonds or a combination of both. Separately, PNB said that it has waived all service charges and processing fee on retail products as part of its festival season offering.
Indiabulls Housing Finance: The mortgage lender has received CCI approval to sell its mutual fund business to fintech firm Groww for Rs 175 crore. The sale deal is expected to be closed on or before June 30, 2022.
Wipro: The company’s chairman Rishad Premji said its leaders will return to office from Monday after 18 months of work from home amid the COVID-19 pandemic. He also shared a video about the COVID-19-related safety protocols that have been put in place at the Wipro office.