Pre Market Report: Dalal Street may open higher; RIL, Adani Enterprises, Tata Motors and Narayana Hrudayalaya in news

Market Opening - An Overview

Nifty futures on the Singapore Exchange were trading 0.27% higher at 17,732, signalling that Dalal Street was headed for a positive start on Tuesday.

Most Asian shares were trading higher after China pledged to make renewed efforts to boost its economy, while investors awaited more clarity from upcoming central bank meetings. Japan’s Nikkei 225 index inched up to 0.02%, while Topix slipped 0.04%. China’s Hang Seng rose 0.07% and CSI 300 index advanced 0.41%.

The Indian rupee fell 4 paise to 79.84 against the US dollar on Monday.

DreamFolks Services will make its stock market debut on September 6. The issue price has been fixed at Rs 326 per share.

FII/DII Trading Data

Stocks in News Today

Reliance Industries (RIL): The company has signed a definitive agreement to acquire a majority stake in SenseHawk Inc for a total transaction value of $32 million, including funding for future growth, commercial rollout of products, and R&D. SenseHawk is a Solar Digitization Platform (SDP) with customers throughout the solar asset lifecycle in the US, EMEA, APAC, and SEA.

Adani Enterprises: Gautam Adani is searching for a new leader for his mergers and acquisitions (M&A) strategy, according to Bloomberg news report. Vinod Bahety – who’s been helming Adani Enterprises M&A activity – will move to a new business vertical soon, the report said citing sources.

Meanwhile, the Adani Group is said to have reached out to CreditSights, highlighting its systemic capital management plan, improved net debt to operating profit ratio and a diversified borrowing book to allay debt concerns raised earlier by a Singapore-based global market research firm, EconomicTimes reported citing people familiar with the matter.

Tata Motors: The automaker has launched the country’s first CNG truck in the medium and heavy commercial (M&HCV) vehicle segment in the 28- and 19-tonne nodes. The company also launched a fleet of trucks in the intermediary and light commercial vehicle (I&LCV) segment, meant for varied applications. With the launch, Tata Motors is hoping to create strong differentiation and recoup some market share it has had lost in recent months.

Narayana Hrudayalaya: The company has signed an agreement with Shiva and Shiva Orthopaedic Hospital and its promoters to subscribe to the optionally convertible debentures (OCDs). These OCDs are worth Rs 80 crore. With this development, the company will acquire Shiva’s orthopedic and trauma hospital (Sparsh Hosur Road’ unit), situated at Narayana Health City campus, Bengaluru.

V-Mart Retail: HSBC Bank Mauritius offloaded 13.91 lakh shares of retail company V-Mart Retail for Rs 392 crore through an open market transaction. The shares were sold at an average price of Rs 2,816.29 apiece aggregating to Rs 391.97 crore.

Jubilant FoodWorks: The company said that Sameer Khetarpal has joined as chief executive officer and managing director. Shareholders have also approved his appointment in the recently concluded AGM of the company.

Shipping Corporation of India: The company said Binesh Kumar Tyagi has taken over as its Chairman and Managing Director (CMD). Tyagi was heading the Liner and Passenger Services Division as Director (L&PS) since January 2021, the PSU said in a regulatory filing.

Aditya Birla Fashion Retail: The clothing retailer could surpass its target of reaching Rs 21,000 crore in annualized revenues by 2026, and achieve higher milestones for the business going forward, chairman Kumar Mangalam Birla said during the company’s recent AGM.

NTPC: The PSU has acquired the stressed Jhabua thermal project (600Mw) of Gautam Thapar-owned Avantha Group, through the Insolvency and Bankruptcy Code (IBC) process. The estimated deal size is Rs 1,830 crore. The balance 50% stake in the thermal unit would be owned by the lenders.

Indian Energy Exchange (IEX): The total trade volume of Indian Energy Exchange (IEX) registered an 18% annual decline in August to 7,805 MU (million units). The total trade volume in August 2021 was at 9,538 MU, an IEX statement said. However, on a month-on-month basis, IEX registered a 9% growth in August. In July 2021, the total power trade volume was 7,151 MU.

REC Ltd: The company will seek shareholders’ approval to raise up to Rs 75,000 crore through issuance of bonds next week. The funds are proposed to be raised through issuance of debentures on private placement basis during a period of one year from the date of passing of the resolution, in one or more tranches, as per the AGM notice. The limit of Rs 75,000 crore shall be within the overall revised borrowing limit.

Commercial Syn Bags: The board of directors of the company has declared dividend at Rs 2.10 per share and the dividend will be paid to 1.27 crore equity shareholders of the company and total 6,07,500 warrants holder subject to conversion into equity shares. The record date for the payment has been fixed as September23.

Delhivery: SBI Mutual Fund has acquired more than 1.07 lakh equity shares in the company via open market transactions on September 1. With this, its stake in the company increased to 5%, up from 4.98% earlier.