Pre Market Analysis 25-08-2021

Market Opening - An Overview

The Indian equity benchmark indices are likely to open higher on Wednesday tracking SGX Nifty futures which was trading 0.45% higher at 16,695.00.

The rupee appreciated by 3 paise to close at 74.19 against the US dollar on Tuesday.

Asian shares extended gains on Wednesday as global equities rebounded helped by positive COVID-19 vaccine news and easing worries over Fed’s tapering of the stimulus. The Hang Seng Index climbed 0.79 % to and the Shanghai Composite edged up 0.10%. In Japan, the benchmark Nikkei 225 index rose 0.17%, while the broader Topix index gained 0.21%.

FII/DII trading data on Tuesday (24-08-2021)

CategoryBuy ValueSell ValueNet Value
*All numbers are in INR crore

Stocks in News Today

HDFC Bank: The lender has sold off 2.21% of its stake in CDSL for Rs 222.71 crore in various tranches during Jun-August period this year, according to a regulatory filing. The bank sold 23.11 lakh shares of face value Rs 10. It sold 20.36 lakh shares at an average price of Rs 937.46 per share on June 22. Another 2,13,481 lakh shares were sold for Rs 1168.94 per share on August 23 and 61,519 shares were sold for Rs 1119.31 apiece on August 24.  

Titan: The regulatory body SEBI imposed a fine on six people of Rs 1 lakh each for violating inside trading rules in Titan shares. The fine was levied on Arjun Ramji Vishwakarma, Gangadhar Sudheer Kallihal, Mekat George, Muniraj Radhakrishnan, Punit Juneja and Jayraj P. These individuals were employees or designated persons of Titan at the time of the violation, according to SEBI. 

Infosys: The IT major has become the fourth Indian company to touch $100 billion market capitalisation. The company crossed the milestone when the share price of Infosys traded at Rs 1755.6 on BSE but pared some gains to close at Rs 1721.50 Other companies in the league are TCS, Reliance and HDFC Bank.

Godrej Industries: The company’s subsidiary Pyxis Holdings has acquired majority stake in group firms Godrej Housing Finance (GHFL) for Rs 405.9 crore and Ensemble Holdings and Finance (EHFL) for Rs 5.73 crore. The company said this would help Godrej group at expanding and diversifying its business activities such as Housing Finance Business. 

Gillette India: The company’s profit after tax fell 39% to Rs 28 crore in Apr-Jun quarter, from the same period last year. The company’s revenue rose 24% to Rs 436 crore in the quarter compared with same quarter last year. Its net profit rose 35% to Rs 310 crore for the year ended June 30 on the back of strong sales and productivity. The company clocked revenue of Rs 2009 crore in the year, up 20% from the previous year. 

ICICI Bank: The RBI has approved the re-appointment of the lender’s MD and CEO Sandeep Bakshi with effect from October 15, 2021 to October 3, 2023, according to a notification to the exchange. The bank reported a net profit of Rs 4,616 crore in the first quarter, helped by higher interest margins and lower provisioning.