Pre Market Analysis 29-09-2021

Market Opening - An Overview

Nifty futures on the Singapore Exchange were trading 0.62% lower at 17,657.50, signalling that Dalal Street is likely to open gap-down on Wednesday.

Asian shares opened lower, tracking the US markets, as traders worried over rising oil prices, higher inflation and fears of a possible US debt default. Japan’s Nikkei was plunged 2.46%, Topix dropped 2.40%. China’s CSI 300 index fell 0.76%. Hang Seng index was down 0.31%

The Indian rupee ended 20 paise lower at 74.04 against the US dollar on Tuesday.

FII/DII trading data on Tuesday (28-09-2021)

CategoryBuy ValueSell ValueNet Value
*All numbers are in INR crore

Stocks in News Today

Godrej Industries: The company has raised Rs 750 crore through allotment of 7,500 rated, listed, unsecured, redeemable, non-convertible debentures having face value of Rs 10 lakh to an identified investor, it said in a regulatory filing. The proceeds will used for business purposes, investments, repayment or prepayment of certain loans and for general corporate purposes, it added.

IndiGo Airlines: The company has signed a codeshare agreement with American Airlines which allows the US-based airlines to sell seats on the Indian carrier’s flights operating on 29 routes. In a joint statement, the companies said, “The codeshare, which will require U.S. and Indian governments’ approvals, is expected to begin in October, as American launches new service between New York (JFK) and Delhi on October 31 this year and between Seattle (SEA) and Bengaluru on January 4, 2022.”

Bharti Airtel: The company’s long-term rating on the bank facilities and debt programme has been revised and upgraded to AA+ with a stable outlook by rating agency Crisil. The rating agency said that there has been an improvement in Bharti Airtel’s operating metrics resulting in a healthy financial risk profile and the company’s ability to service debt.

Future Group: The Mumbai Bench of National Company Law Tribunal (NCLT) has allowed Future Group companies to hold extraordinary general meetings (EGMs) of their shareholders and creditors to seek approval for selling assets to Reliance Retail Ltd. Future Retail in a statement said that the NCLT has further rejected the intervention application filed by Amazon.

Adani Group: The conglomerate has bought a 10% stake in government promoted CSC SPV’s e-commerce subsidiary CSC Grameen eStore. Dinesh Tyagi, Managing Director of CSC SPV, said that the association with Adani Group will help meet the financial requirements of village-level entrepreneurs (VLE), who manage e-stores that provide groceries, consumer durables, etc. in small towns and rural areas.

Tata Motors: The automaker has rolled out the 1,00,000th unit of its hatchback Altroz, from the company’s manufacturing facility at Pune. The vehicle model based on the ALFA (Agile Light Flexible Advanced) architecture has acquired the 2nd spot in the premium hatchback category in FY22, with more than 20 per cent share with an average monthly sale of around 6,000 units in the current fiscal, Tata Motors said.

Dish TV: The company has got some relief after the Registrar of Companies granted the company an extension of two months to call an Annual General Meeting (AGM) from the due date by which it ought to have been held.

CESC Ltd: The flagship company of RP Sanjiv Goenka group said its board has approved a plan to raise Rs 400 crore through unsecured non-convertible debentures (NCDs) on a private placement basis. The tenure of the NCDs is five years and the interest rate will be linked to treasury bill rates.