Nifty, Sensex may move head higher– Weekly closing report
Moneylife Digital Team 09 October 2021
We had mentioned in previous week’s closing report that Nifty, Sensex were on a strong rally. The major indices closed with gains.
 
 
On Monday, the indices opened higher and ended with major gains. On the NSE, there were 1,484 advances, 513 declines and 83 unchanged.
 
Zee Entertainment Enterprises moved the Bombay High Court against its biggest shareholders Invesco and OFI Global China Fund, saying their demand to call an extraordinary general meeting (EGM) should be declared illegal.
 
Avenue Supermarts reported standalone revenue from operations of Rs 7,649.64 crore for the quarter ended 30 September 2021, compared to Rs 5,218 crore in the same period last year.
 
Adani Green has completed the acquisition of SB Energy Holdings Ltd (SB Energy India) in an all-cash deal.
 
Reliance Industries has invested US$ 1 million in cash in 1,000,000 equity shares of $1 each of Reliance International Limited (RINL), a newly incorporated wholly-owned subsidiary in Abu Dhabi Global Market, United Arab Emirates.
 
On Tuesday, the indices opened higher and ended with major gains. On the NSE, there were 1,226 advances, 811 declines and 93 unchanged.
 
The board of Srei Infra and Srei Equipment Finance has been superseded by the Reserve Bank of India (RBI) due to governance concerns and defaults by Srei Group companies.
 
HDFC Bank reported advances at Rs 11,985 billion as of September 30, 2021, a growth of around 15.4% over Rs 10,383 billion as of September 30, 2020. Deposits grew 14.4% to Rs 14,060 billion from Rs 12,293 billion as of September 30, 2020
 
IndusInd Bank reported 10% growth in advances for the quarter ended 30 September 2021 at Rs 2,21,821 crore against Rs 2,01,247 crore in the same quarter last year. Deposits grew 21% YoY at Rs 2,75,486 crore against Rs 2,28,279 crore
 
HFCL bagged a Rs 287.96-crore order from RailTel Corporation of India to set up a communication network for defence forces. The secured optical packet switched network shall enhance the security of applications and provide state-of-the-art technology, which will drive the security requirement of defense forces, a release said.
 
Ircon International with its JV partner emerged as the lowest bidder at Rs 3,429 crore for a tender floated by National High Speed Rail Corporation Limited (NHSRCL) for the design and construction of 18.133 km of viaduct involving Ahmedabad Station and Sabarmati Station and associated works as part of the Mumbai-Ahmedabad High Speed Rail.
 
Bharti Airtel and Ericsson have conducted India’s first 5G network demonstration in a rural area. The demonstration took place in Bhaipur Bramanan village on the outskirts of Delhi-NCR using 5G trial spectrum allocated to Airtel by the Department of Telecom, the company said in a press release. BLS International announced its contract with Royal Thai Embassy in New Delhi for visa services
 
On Wednesday, the indices opened higher but suffered a major correction and ended in losses. On the NSE, there were 693 advances, 1,294 declines and 7 unchanged.
 
Zee Entertainment Enterprises moved the National Company Law Appellate Tribunal (NCLAT) to get a stay on the NCLT order that sought a reply from the company on its decision on holding an extraordinary general meeting (EGM) on a plea moved by shareholder Invesco Developing Market Funds.
 
AU Small Finance Bank reported 45% YoY growth in total deposits to Rs 39,034 crore in the quarter ended 30 September 2021. CASA ratio grew to 30% as against 20% between the corresponding periods.
 
Indian Oil Corporation Ltd (IOC) will set up a new research and development (R&D) center at an outlay of Rs 3,200 crore in Faridabad in Haryana, according to IANS.
 
Tata Motors’ JLR UK sales declined 53.4% to 7,196 units in September against 15,450 vehicles in the year-ago period. Jaguar UK sales were down 54% at 1,844 units versus 4,006 units and Land Rover UK sales were down 53% at 5,352 units against 11,444 units YoY.
 
Bajaj Finance reported that its customer franchise was up 19.7% YoY to 52.8 million as of September 30, 2021. New loans booked during the July-Sep 2021 quarter increased to 6.3 million from 3.6 million YoY.
 
TCS announced that its long-standing partnership with State Bank of India has been extended for another five years as the bank embarks on its next leg of growth based on the three pillars of technology, resilience and people.
 
On Thursday, the indices opened higher and ended with major gains. On the NSE, there were 1,425 advances, 608 declines and 74 remained unchanged.
 
Titan, in its Q2 update announced that its sales were above or close to the pre-pandemic levels. Jewelry business saw a 78 % growth on a Y-o-Y basis, watch or wearables segment business sales were up 73% Y-o-Y. Eyewear and other business sales were up 74% and 121% Y-o-Y respectively. The company added 13 new stores in last quarter. 
 
Macrotech Developers earlier named as Lodha Developers announced it Q2 results, its sales jumped 88% to Rs2,003 crores on a Y-o-Y basis. Its MD and CEO has given a pre-sales guidance of Rs 9,000 crores and target of reducing net debt to Rs 10,000 crore by the end of this financial year.
 
Sobha Ltd, new sales stood at 16.5 lakh sq ft vs 9 lakh sq ft, up by 50% YoY and new booking were at Rs 1030.2 crores up over 49 percent YoY, the stock ended 16.64% higher.
 
American Investor Blackstone is set to acquire VFS Global, worlds largest Visa outsourcing company at an enterprise valuation of over $ 2 billion.
 
SEBI has changed Request for Quote (RFQ) rule, asking mutual funds to allocate 25 percent of their total secondary market trades by value to be invested in Corporate Bonds and 10 percent of their total secondary markets by value to be invested in commercial papers by placing quotes through one-to-many mode on RFQ platform.
 
Reliance Retail will open 7-Eleven convenience stores in India after entering into a franchise agreement with 7-Eleven Inc, this was after termination of 2-year-old franchise agreement between Future Retail and 7-Eleven Inc
 
Lupin has received USFDA approval for its Brexpiprazole generic tablets, which are used as anti-depressant. The stock ended with gains of around 1%.
Tata Steel, reported increase in steel output by over 7 % YoY, the stock closed 0.73 % higher.
 
On Friday, the indices opened higher and ended with major gains. On the NSE, there were 1,089 advances, 960 declines and 79 remained unchanged.
 
RBI has kept policy rates unchanged in its Monetary Policy Committee, this was 8th time in row that RBI has kept the rates unchanged. RBI has also retained its GDP growth projection at 9.5% in 2021-22.
 
RBI has proposed to increase the per transaction limit of IMPS from Rs 2 lakh presently to Rs 5 lakh.
 
TCS has reported 29 percent growth YoY in its consolidated net profit for quarter ended in September to Rs 9,624. Its consolidated revenue from revenue also increased by 16.8 percent to Rs 46,687.
 
Emami Agrotech, is planning to invest around Rs 10 bn to Rs 15 bn over the period of next 3 years to achieve its ambitious target of becoming leading food company. Emami Agrotech is an Emami group company operating in the business of spices, edible oils and soya chunks.
 
Wockhardt, zoomed 11 percent in early trade on media reports of stake sale to Serum Institute of India (SII) and closed with major gains of 5.50%. 
 
Mobikwik, has received SEBI approval for its Rs 1,900 crore Initial Public Offer (IPO). It is expected to launch IPO before Diwali around 4 November.
 
It was last valued at $700 million in its last funding round in April. PayTM, Nykaa and Policy Bazaar are also eyeing IPO debut this year.
Comments
Weekly Moneylife Indices & Sector Trends
Moneylife Digital Team 09 October 2021
INDIAN MARKET TRENDS
From 1st October to 7 October 2021, ML Small-cap Index and ML Micro-cap Index rose 4% each. ML Mid-cap Index rose 3%. ML Large-cap Index, ML Mega-cap Index and the Sensex rose 2% each. The NIFTY rose...
Piramal Enterprises Demerger: What Is the Upside?
Moneylife Digital Team 09 October 2021
Piramal Enterprises Ltd (PEL) has announced the demerger of its pharmaceuticals business leading to creation of two independent listed firms focused on financial services and pharma. After the demerger, PEL will become a financial...
Acting Right in a Raging Bull Market
R Balakrishnan, 08 October 2021
It is easy to sell a stock, when we are sitting on a profit. When we are not, it is not an easy task. It is a natural human tendency to hold on to stocks that have dipped below our purchase price, expecting them to recover, at some...
Moneylife Stockgraders
Moneylife Digital Team 08 October 2021
Guidelines 
             
1. The Grader captures the first two of the three intrinsic factors that drive a stock: valuation, returns and growth. Since growth is volatile and difficult to capture through a metric, we have...
Free Helpline
Legal Credit
Feedback