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Market Opening - An Overview
Nifty futures on Singapore Exchange were trading 0.11% lower at 17,543, signalling that Dalal Street was headed for a weak start on Wednesday.
The Indian rupee gained 13 paise to close at 73.61 against the US dollar on Tuesday.
Asian stocks got off to a negative start on concerns over China’s Evergrande debt crisis, ahead of the US Fed’s monetary policy decision which is likely to be releases at 1400 hours ET. Japan’s Nikkei and Topix fell 0.58% and 0.71%, respectively. China’s CSI 300 dropped 1.24%.
FII/DII trading data on Tuesday (21-09-2021)
| Category | Buy Value | Sell Value | Net Value |
| FII/FPI | 8110.81 | 7068.89 | 1041.92 |
| DII | 8010.59 | 5842.97 | 2167.62 |
| *All numbers are in INR crore | |||
Stocks in News Today
Zee Entertainment Enterprises: The company’s board has approved its merger with Sony Pictures Networks India (SPNI), the company said in a regulatory filing on Wednesday. The shareholders of SPNI, will hold a majority stake in the merged entity and will also infuse capital into SPNI such that SPNI has approximately $1.575 billion to use for other growth opportunities.
HDFC: The company has decreased its home loan rates by 45 to 60 basis points for borrowers with credit scores above 800 and loan amount above Rs 75 lakh ahead of the festive season. HDFC said customers can avail new home loans starting at an interest rate of 6.70%, irrespective of the loan amount or employment category.
KEC International: The engineering company has won order worth Rs 1,157 crore across its various businesses. The transmission and distribution segment saw the highest amount of orders worth Rs 663 crore for projects in the Middle East, Africa, and the Americas, it said in a filing to the BSE. The railways segment won orders worth Rs 220 crore in India.
Torrent Power: The company said it has acquired 100% share capital of Surya Vidyut, a wholly-owned subsidiary of CESC with an estimated enterprise value of Rs 790 crore. With this acquisition Torrent has forayed into renewable energy space in the States of Rajasthan and Madhya Pradesh.
SpiceJet: The company’s shareholders have approved the transfer of its cargo and logistics services business to a subsidiary, on a slump sale basis, through an all-share deal worth over Rs 2,555 crore. This will help the airline to significantly reduce its negative networth. Moreover, the shareholders have also cleared the proposal to raise up to Rs 2,500 crore through the Qualified institutional placement route.
BSE: The company has added 1 crore registered investor accounts to its platform between June 6 and September 21, taking the total to over 8 crore in just 107 days. The company’s MD and CEO Ashishkumar Chauhan said equity investments, whether directly or through mutual funds, are gaining ground over last one-and-a-half years in the domestic market, following a global trend.
Godrej Industries: The company plans to raise Rs 750 crore by issuing non-convertible debentures (NCDs) and its board has approved the proposal. The company’s board of directors has approved the placement memorandum/ information memorandum for issuance of up to 7,500 rated, listed, unsecured, redeemable, NCDs having a face value of Rs 10 lakh each, aggregating to Rs 750 crore on a private placement basis.