IndusInd Bank gains 3 percent after bank re-appoints Sumant Kathpalia as MD & CEO
Voda Idea decides to not convert FY18-FY19 deferred AGR dues into equity, as per sources; stock down 1.5 percent
PVR down 1.7 percentPlenty Private Equity FII I has sold 7,62,499 equity shares (1.24 percent stake) in the company via open market transactions at an average price of Rs 1,877.14 per share, and Plenty Private Equity Fund I offloaded 10,76,259 shares (1.76 percent stake) at an average price of Rs 1,887.04 per share. They together held 6.02 percent stake in the company as of June 2022. Gray Birch Investment exited the company by selling 22,06,743 equity shares at an average price of Rs 1,871.18 per share
Vedanta, TCS among most active shares on the exchanges
Vedanta clarified on Thursday that the semiconductor plant will be with holding company Volcan Investments; stock down 6 percent
Infosys to announce Q2 earnings on October 13
Sensex opens 250 pts in the red, Nifty below 17,800; financials, metals, IT slide
Deepak Jasani, Head of Retail Research, HDFC Securities
Broad market continues to lag while largecaps seemed to be under mild selling pressure. 18,096-17,692 could be the band for the Nifty in the near term.
Rupee Check | Rupee opens at 79.80/$ versus Thursday’s close of 79.70/$
Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
The market has started showing some indications of fatigue. Globally, the major concern now is that the Fed might oversteer the economy and end up raising rates too much too fast, pushing the US economy into a sharp recession. There are talks of the terminal Fed rate rising to 4.25 percent. Sharply rising rates, rising bond yields and rising dollar are negatives for equity.
In this challenging environment, it would be difficult for India to sustain the decoupling from the global trend which has been a recent pattern in India. Moreover, FIIs have halted their sustained buying and have turned sellers, though this is not yet a trend. Investors may adopt a wait and watch attitude till the Fed meeting is over on 21st September. Bank Nifty continues to be strong.
Govt relaxes paid up capital rules for small companies
Earlier, definition of “small companies” under the Companies Act, 2013 was revised by increasing their thresholds for paid up capital from “not exceeding Rs 50 lakh” to “not exceeding Rs 2 crore” and turnover from “not exceeding Rs 2 crore” to “not exceeding Rs 20 crore”. This definition has, now, been further revised by increasing such thresholds for paid up capital from “not exceeding Rs. 2 crore” to “not exceeding Rs. 4 crore” and turnover from “not exceeding Rs. 20 crore” to “not exceeding Rs. 40 crore”.
Morgan Stanley on SBI Life
-Overweight call, Target at Rs 1,500 per share
-Management bullish on medium-term APE growth
-Strong FY23 APE growth guidance driving VNB margin expansion
-See VNB growth of more than 35 percent
-Non-par guaranteed products on a strong footing
