Pre Market Analysis 23-08-2021

Market Opening - An Overview

SGX Nifty futures were trading 0.91% higher at 16,554.50, signalling that Dalal Street was headed for a positive start on Monday.

The rupee on Friday declined by 15 paise to close at 74.39 against the US dollar.

Asian stocks rose as Tokyo shares opened higher, helped by strong Japanese corporate earnings improving investors’ risk appetite. The benchmark Nikkei 225 index added 0.79% to 27,225.92, while the broader Topix index was up 1.03% to 1,900.09. China’s Hang Seng gained 2.09% and CSI 300 index was up 0.96% in early trade on Monday. 

FII/DII trading data on Friday (20-08-2021)

CategoryBuy ValueSell ValueNet Value
*All numbers are in INR crore

Stocks in News Today

GAIL: The gas company will venture into hydrogen generation and will acquire other companies or business segments to scale up its renewable energy portfolio as it pivots business beyond natural gas to align with energy transition being witnessed across the globe. The company will lay pipeline infrastructure to connect consumption centres to gas sources while also increasing its renewable energy portfolio, its Chairman and MD Manoj Jain said.

Adani Total Gas Ltd: The company has bought 50% stake in Smartmeters Technologies, which manufactures gas meters, for Rs 1 crore to aid its gas retailing business. The deal is likely to be completed by September. Adani Total Gas sells CNG to automobiles and natural gas to household kitchens and industries.

Coal India: The company’s capital expenditure soared to Rs 1,840 crore in the Q1 of FY22, compared with Rs 844 crore in the year-ago period. The rise in capital expenditure is due to investments in evacuation infrastructure, land acquisition and procurement of heavy equipment. The company expects to move around 415 million tonne of coal through mechanised means through 35 first mile connectivity projects by FY24.

GMR Group: The infrastructure company has said it is planning to modernise and develop Nagpur Airport after a ruling by Nagpur Bench of Bombay High Court. The company plans to develop the airport in a phased manner and the airport will have a total capacity of 3 crore passenger annually in the coming years. The first phase of development will take 4 years that includes a new greenfield terminal, associated aeronautical infrastructure, new cargo terminal, etc.

Arvind Fashions Ltd: The company has raised Rs 439 crore from various investors including promoters by issuing equity shares. The clothing manufacturer said the capital infusion will help the company to expand its business and insulate it from the pandemic related uncertainties. Th transaction will be complete after approval from necessary shareholders and SEBI.

Aurobindo Pharma: The drugmaker’s acquisition of 51% stake in Cronus Pharma Specialities India for Rs 450 has been terminated, according to its regulatory filing. The reason for the cancellation of the deal has not been disclosed. Cronus is into development, manufacturing and sale of generic veterinary pharmaceutical products.