Pre Market Analysis 17-09-2021

Market Opening - An Overview

Benchmark Indian equity indices are expected to open higher on Friday as SGX Nifty futures were trading 0.57% higher at the 17,705.

Indian rupee inched down 2 paise to close at 73.51 against the US dollar on Thursday.

Asian markets were mixed as Nikkei and Topix rose 0.53% and 0.31% higher, respectively as investors keenly watched the domestic political developments. In China, Hang Seng index was up 0.29%, while CSI 300 dropped 0.33%.

FII/DII trading data on Thursday (16-09-2021)

CategoryBuy ValueSell ValueNet Value
*All numbers are in INR crore

Stocks in News Today

Bank of Baroda: The public sector lender said that it will offer a waiver of 25 basis points on the current rates for home loan and car loan borrowers, along with a waiver of processing fee in home loans. Now, the bank’s home and car loan rates will start from 6.75% and 8%, respectively.

Hero MotoCorp: The two-wheeler maker announced that it will increase the prices of all its models by up to Rs 3000 from September 20. The price hike is to offset the impact of increasing commodity prices, the company added.

TVS Motor: The company has bought EGO Movement, a Swiss e-bike company in an all-cash deal through its Singapore Subsidiary TVS Motor. It has bought 80% stake in EGO for $17.9 million and aims to generate $100-150 million in the next three to five years by tapping the growing demand for e-bikes in Europe.

Hindustan Copper: The government-owned enterprise has sold 10% with institutional investors bidding for over Rs 700 crore. Out of the 4.35 crore shares that was on offer, institutional investors put in bids for more than 6.14 crore shares, or 1.41 times the offer size, as per data on the NSE. At the indicative price of Rs 116.12 per share, the bids were valued at over Rs 710 crore.

Ujjivan Small Finance Bank: The RBI has given its green signal to the lender to form a special committee of directors with 3 independent directors as its members to oversee operations in the absence of an MD and CEO. The committee will oversee the operations and administration of the bank in the absence of the Managing Director and CEO with effect from September 16, 2021, it said in a regulatory filing.

JSW Steel: The company has raised funds worth $1 billion through the issuance of sustainability-linked bonds (SLBs) in the overseas market. The issuance had two tranches of 5.5 years and 10.5 years, each for an amount of $500mn. The proceeds from the bonds issue will be used for funding capital expenditure plans and for refinancing of debt.