Nifty 17431.8 (0.17%)
Sensex 58561.35 (0.17%)
Nifty Bank 36702.1 (0.53%)
Nifty IT 36360.6 (0.56%)
Nifty Financial Services 18073.35 (0.50%)
Adani Ports 739.00 (-0.01%)
Asian Paints 3155.45 (-0.79%)
Axis Bank 683.25 (1.06%)
B P C L 387.50 (2.28%)
Bajaj Auto 3314.40 (-0.42%)
Bajaj Finance 7187.40 (0.10%)
Bajaj Finserv 17795.55 (0.21%)
Bharti Airtel 722.90 (-1.32%)
Britannia Inds. 3572.50 (-0.17%)
Cipla 913.70 (-0.82%)
Coal India 159.45 (0.09%)
Divis Lab. 4743.65 (-0.70%)
Dr Reddys Labs 4625.80 (-0.79%)
Eicher Motors 2490.00 (1.57%)
Grasim Inds 1729.75 (0.34%)
H D F C 2804.85 (-0.11%)
HCL Technologies 1179.70 (-0.42%)
HDFC Bank 1530.00 (0.28%)
HDFC Life Insur. 701.55 (-0.53%)
Hero Motocorp 2477.95 (0.21%)
Hind. Unilever 2376.90 (-0.27%)
Hindalco Inds. 429.85 (-0.52%)
I O C L 122.50 (1.53%)
ICICI Bank 725.80 (0.47%)
IndusInd Bank 946.95 (0.15%)
Infosys 1770.80 (1.29%)
ITC 224.65 (-0.35%)
JSW Steel 645.75 (-0.15%)
Kotak Mah. Bank 1976.20 (0.61%)
Larsen & Toubro 1840.70 (2.88%)
M & M 850.00 (0.05%)
Maruti Suzuki 7274.95 (-0.68%)
Nestle India 19271.60 (-1.19%)
NTPC 129.40 (0.54%)
O N G C 145.85 (1.28%)
Power Grid Corpn 215.45 (0.44%)
Reliance Industr 2470.70 (-0.49%)
SBI Life Insuran 1176.50 (-0.97%)
Shree Cement 26201.00 (-0.34%)
St Bk of India 479.35 (0.49%)
Sun Pharma.Inds. 759.10 (-0.93%)
Tata Consumer 772.45 (-0.10%)
Tata Motors 480.25 (0.24%)
Tata Steel 1110.35 (-0.18%)
TCS 3641.20 (-0.05%)
Tech Mahindra 1627.00 (-0.16%)
Titan Company 2385.00 (-0.06%)
UltraTech Cem. 7346.35 (0.32%)
UPL 709.20 (1.58%)
Wipro 645.60 (-0.19%)

IPOs raise Rs.27,000 crore in fiscal 2021-22

02/08/2021

As per the latest data put out by Praxis, the Indian IPO market saw new issues collecting Rs.27,052 crore in the first four months. Considering that another Rs.70,000 crore of IPOs are lined for FY22, this could end up being a record year for IPO collections, even bettering 2017 by a margin. But, we have to wait for that to actually happen. For now, what we do have is the performance of the first four months of FY22.

Interestingly, the first four months collection is very close to the total amount of Rs.31,277 crore raised via IPOs in FY21. The largest fund raising in this fiscal was Zomato IPO which managed to raise Rs.9,375 crore through its IPO in July. This figure of Rs.27,052 crore does not include the Rs.7,735 crore that was raised via the Power Grid INVIT, which is the infrastructure investment trust sponsored by Power Grid.

One factor that appears to have worked for the IPOs is the commendable listing performance of a majority of the IPOs in FY21 and in the first 4 months of FY22. That has led to record subscription numbers with recent issues like Tatva Chintan Pharmachem and Rolex Rings getting oversubscribed to the tune of 180X and 130X respectively. The robust BSE IPO index has also fuelled the appetite of retail, HNI and QIB investors for IPO as an asset class by itself.

Also Check: List of Upcoming IPOs in August 2021

 

There is a much bigger story set to unfold this year. The Rs.70,000 crore to be raised via IPOs this fiscal includes a slew of digital leaders like Paytm, Nykaa, Policybazaar, MobiKwik, CarTrade etc. All IPOs listed in FY22 are trading above their issue price with premiums ranging from 14% to 110%. This is excluding the LIC IPO.

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NSE announces quantity freeze limits for derivative contracts

02/08/2021

As part of its risk management system, NSE issued a circular on 31 July highlighting the logic for quantity freeze and the respective quantity freeze limits for the 3 indices traded in F&O viz. Nifty, Bank Nifty and Nifty Financial Services index. For all the 3 indices, the quantity freeze limits shall be announced on a monthly basis, with revisions where warranted. The frequency distribution of quantity freeze will be as under.

Index benchmarked quantity freeze limits in F&O
 

Index Level From

Index Level To

Quantity Freeze

0

5,750

8,500

>5,750

8,625

5,500

>8,625

11,500

4,200

>11,500

17,250

2,800

>17,250

27,500

1,800

>27,500

40,000

1,200

>40,000

55,000

900

>55,000

No Upper Limit

600

Data Source: NSE

In case of contracts on indices, all orders that are entered in the trading system with quantity more than the respective freeze quantity limit (specified above) for the index shall be frozen and automatically rejected by the Exchange. 

Does quantity freeze apply for individual stocks?

Yes, quantity freeze applies to individual stocks also, and orders entered in the trading system more than the respective freeze quantity limit shall be frozen and automatically rejected by the Exchange. Post quantity freeze, orders will only be accepted up to 1 % of MWPL or Rs.2.50 crore notional value, whichever is lower.

What is the applicable quantity freeze today?

The quantity freeze for the 160 F&O stocks are available on www.nseindia.com. However, for greater clarity, the below table captures the quantity freeze limits for the 3 indices on which F&O trading is currently permitted.
 

Index Name

Current Index Level #

Quantity Freeze

Nifty 50

15,763

2,800

Bank Nifty

34,584

1,200

Nifty Financial Services

16,469

2,800

# - closing value on 30 July

The above levels are applicable effective 02 August and are subject to monthly review.

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How to place your capital across 4 IPOs lined up this week?

02/08/2021

For the week starting 02 August, there are a total of 4 IPOs lined up with all the 4 IPOs opening for subscription on 04 August and closing on 06 August. 

What you need to know about the 4 IPOs?

Here is a gist of the 4 IPOs slated to tap the market on 04 August.

Devyani International IPO (franchisee for bands like KFC, Pizza Hut and Costa Coffee) is tapping the IPO market to raise Rs.1,838 crore. While Rs.440 crore will be the fresh issue component, Rs.1,398 crore will be offer for sale to give exit to shareholders. Devyani offers a solid play on the fast growing QSR segment in India.

Krsnaa Diagnostics IPO (into B2B diagnostics) is raising Rs.1,213 crore. While Rs.400 crore will be the fresh issue component, Rs.813 crore will be an offer for sale. It will use the funds for expansion of its pan-India diagnostic network.

Windlas Biotech IPO (into pharma manufacturing CDMO) is raising Rs.402 crore. While Rs.165 crore will be the fresh issue component, Rs.237 crore will be an offer for sale to shareholders. CDMO is one of the fastest growing verticals in pharmaceuticals.

Exxaro Tiles IPO (manufacturer of vitrified tiles) is tapping the IPO market to raise Rs.161 crore. While Rs.134 crore will be the fresh issue component, Rs.27 crore will be an offer for sale. Exxaro has leadership in the glazed vitrified tiles segment.

In terms of IPO size, Devyani International and Krsnaa Diagnostics are the biggest. They are in the fast-growing QSR and diagnostics space respectively. Investors can spread their investment across IPOs as the BSE IPO index has been an outperformer in last 16 months.

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Auto Sales Numbers Flatter for July 2021

02/08/2021

After a rather tepid June month due to COVID 2.0 lag effect, the sales of automobiles picked up sharply in July. With auto factories and showrooms functioning at near-normal capacity, the bounce was on the cards. Let us look at two major listed PV manufactures and then look at Escorts as representative of the tractor segment.

Maruti Suzuki, the undisputed leader in domestic auto volumes, saw sales in July grow by 10.2% on a sequential basis to 162,462 units. This included exports of 21,224 units in the month. Demand growth was led by the utility segment. The mini / compact segment saw sales lower by 8.2% at 89,953 units while utility vehicles sales rose 26.6% to 32,272 units.

The Tata Motors domestic business (excluding JLR) saw robust performance in the passenger vehicle (PV) segment. On a sequential basis, Tata Motors saw 25% growth in sales numbers at 30,185 units as demand recovered with the phased lifting of restrictions. Overall domestic sales of Tata Motors (including CVs and LCVs) were up 19% sequentially at 51,981 units with the CV segment also growing by 8% over June.

However, the delayed monsoons across India appeared to have dented tractor sales in the month of July. Escorts reported 47.6% sequential fall in tractor sales to 6,564 units due to the delayed monsoons impacting the Kharif season rather intensely. However, with the monsoons showing signs of normalizing, that should be addressed. All auto companies admitted that the spike in commodity inflation had put pressure on their margins in the auto business.

Among unlisted players, the second-largest player in the PV segment, Hyundai India, also showed smart growth led by the Creta and the newly launched Alcazar.

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Ashok Leyland lays out its Electrical Vehicles plans

02/08/2021

The next big story in the auto space appears to be electrical vehicles. Just last week, the chairman of Tata Sons announced a $3-4 billion investment in FY22 in the EV business. The other major CV manufacturer, Ashok Leyland, is not too far behind. Over the week end, Ashok Leyland announced an outlay of $150-200 million to layout the blueprint for its EV foray. Ashok Leyland has already invested $130 million in its EV foray in last few years.

The EV initiatives of Ashok Leyland are housed under its Switch Mobility unit. Switch Mobility was formed by combining the electrical commercial vehicles operation of Ashok Leyland and Optare of the UK. Switch Mobility has been making EV buses and have already put about 280 such green EV buses on the roads. Now it is looking to scale up the electrical vehicles (EV) business to the next level.

Also Read: Maharashtra EV Policy 2021 to accelerate green shift

The proposed investment of $150-200 million will be used for new vehicle development, technology enhancement, partnerships and actual production. Switch Mobility is planning electrical vehicles with different price points to cater to different market segments. Considering the steep cost of owning EVs in India, Ashok Leyland is exploring having an OPEX based model where the ownership can be on use basis.

Currently, the market size of electrical buses and light trucks is estimated at $5 billion. However, this is expected to grow exponentially to $70 billion by the year 2030 and that is where Ashok Leyland sees the biggest opportunity for the company. Ashok Leyland sees tremendous potential for electrical shift in buses, light commercial vehicles (LCV) and intermediate commercial vehicles (ICV). It will also explore “Mobility as a Service” model to give a boost to electrical vehicles.

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Key Market Events to Watch this Week - Stock Market Outlook

Weekly Market Updates
02/08/2021

The Indian equity markets started the week on a positive note on account of positive global sentiments. In addition, the news that GST collection recovered to a three-month high in July, above Rs1 lakh crore mark, as economic activity restarted also supported the market performance.  BSE Sensex closed 363.79 points or 0.69% up and Nifty50 jumped 122.10 points or 0.77%.

Here, we have discussed, some of the key events that will take place this week.

RBI Policy:
RBI monetary policy review meeting is scheduled this week and the outcome of the same will be announced on August 6. The market experts expect status quo on key rates, but the focus will be on inflation and growth guidance ahead.

Quarterly Results:
A lot of companies are going to announce their quarterly performance this week. Some of the top names are HDFC, Bharti Airtel, SBI, Titan Company, Dabur, M&M, Cipla, GAIL India, Adani Ports, ZEE, Divis Labs and Hindalco Industries.

IPO Week:
Windlas Biotech, KRSNAA Diagnostic, Exxaro Tiles and Devyani International IPO will be open for subscription this week. The said four IPOs will be launched on August 04 and will be open for subscription till August 06, 2021.

FII DII Data:
FII turned cautious due to the increasing fear of the third wave in India. FII’s sold equities worth over Rs6,900cr during last week.

On the other hand, domestic institutional investors bought Rs8,206cr worth of shares last week.

Auto Sales numbers and Economic Data:
The auto companies will be releasing their July auto sales figure. Maruti Suzuki, TVS Motor, Eicher Motors, Bajaj Auto, Ashok Leyland, M&M, Escorts Tata Motors will be in focus.

Covid19 Numbers:
The active Covid-19 cases in India jumped to 4,10,952 registering an increase for the fifth consecutive day. As per the Union Health Ministry data, India on Sunday reported 41,831 new Covid-19 cases in the last 24 hours.

Technical Outlook

NIFTY 50

Nifty closed with a loss of 0.10% near 15763 levels. The market breath was bullish with 27 advance against 23 declines. Sectors ended the session in green territory are Auto, FMCG, IT, Media, Pharma and Realty, sectors closed in red zone are Banks (Pvt and PSU), Financial Services and Metal on Friday. 

NIFTY BANK
Niftybank closed with a loss of 0.30% near 34584.35 levels. FEDERALBANK, AUBANK, RBLBANK were top gainer while SBIN, AXISBANK, INDUSINDBK were top losers.  

WEEKLY TOP3 GAINERS
 

            SCRIP

LTP

%CHANGE

HIL

6395.70

+35.68

Mahindra Logistics

748.20

+25.96

GHCL

304.50

+22.74

 

WEEKLY TOP 3 LOSERS

SCRIP

LTP

%CHANGE

POWERGRID

171.05

-26.60

Alembic Pharma

787.65

-16.80

Ramco Systems

532.50

-15.12

 

Weekly Chart- Nifty50

Nifty

 

 

We have applied parabolic SAR which used to determine the price direction as well as draw attention to when the price direction is changing. A series of dots placed below the price which is deemed to be a bullish signal. Prices also took support from its slopping line and closed above it buying seen if able to give breakouts of its resistance level.

Nifty find support near 15000 while 16000 will act as a psychological resistance.
 

WEEKLY CHART- BankNifty

Bank Nifty

 

 

Bank Nifty was weak against Nifty last week. As per Moving averages, 20 days EMA is also placed in the region of 33900 level which is coinciding with the pivot levels. Thus closing below this EMA is much needed  for selling pressure and unless this happens, it can continue to act as hurdle for now.

Banknifty support is placed near 33900 while on higher side 36000 will act as an immediate resistance.
 

CALL FOR THE WEEK:

Quess

 

CALL : BUY QUESS ABOVE 888 SL 840 TGT 935
Trend of stock is bullish, Prices formed Bullish marubozu like candle. Here the open is equal to the low. It indicates that there is buying in the stock traders actually bought at every price point during the day. It does not matter what the prior trend has been, the action on the marubozu day suggests that the sentiment has changed and the stock is now bullish. The expectation is that this sudden change in sentiment will be carried forward over the next few trading sessions and hence one should look at buying opportunities. Price trading above 12-day moving average and now it has been acting as a decent support as of now. RSI placed above 60 levels which also indicates buying in stock for coming session. 

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