Market Capsule September 1st '24 | Defying all odds, Indices at ATH
- samarwealth
- Sep 1, 2024
- 5 min read
The domestic market concluded the week with significant gains, continuing its upward trend for the third straight week. Over the week, the Nifty 50 reached a new record, closing above the 25,200 mark, while the Sensex also hit an all-time high, finishing above 82,300.
Reliance Industries is set to consider a 1:1 bonus share issuance at its board meeting on September 5, as announced by Chairman Mukesh Ambani. This marks the company's sixth bonus issuance since its 1977 listing, with the previous one occurring in 2017.
Sugar stocks skyrocketed on Friday after the government authorized the use of sugarcane juice and sugar syrup for ethanol production in the 2024-25 ethanol supply year (ESY), overturning the previous year's ban. Shares of several sugar companies, such as Dalmia Bharat Sugar, Shree Renuka Sugars, Balrampur Chini Mills, Triveni Engineering, Bajaj Hindusthan, and Dwarikesh Sugar Industries, surged by 6-16% during Friday's trading session.
Nifty Pharma and Nifty IT indices were the leading sectoral performers last week, climbing 3.1% and 4.1%, respectively. As markets hit new highs, identifying sectors with favorable risk-reward ratios is challenging. Despite high valuations, sectors like IT, and agrochemicals still offer appealing investment prospects.
Charting the Pulse of Indices:
A) Sector Wise Performance
B) Heatmap
Heatmap helps investors quickly understand the performance of multiple stocks or sectors in a single view. Color coding, with varying shades indicating the degree of movement - red for declines, green for gains, and sometimes grey or other colors for little or no change. Heatmaps are effective for spotting market patterns and can be a time-saving resource in investment analysis.
C) Market Breadth
A) Nifty 500
Analyzing market breadth is important as it provides insight into the underlying strength or weakness of the market, beyond just looking at benchmark indices. Breadth measures the percentage of securities in NIFTY 500 surpassing specified moving averages over the specified period. Comparing the market breadth of nifty 500 during the previous week's trading sessions, we can analyze that number of stocks above key moving average support areas are reducing by the end of week. This can be considered as a sign of weakness if change is seen to be significant.
Ramkrishna Forgings Ltd:
2. Bhansali Engineering Polymers Ltd:
3. Bharat Petroleum Corporation Ltd:
4. Rail Vikas Nigam Ltd
5. Bharat Bijlee Ltd
Corporate Developments
Order Wins:
Bharat Heavy Electricals Limited (BHEL) has signed contract agreement with Adani Power Ltd. and its subsidiary for setting up 3 nos. Supercritical Thermal Power projects .Link
Bondada Engineering Limited has been awarded a ₹575 Cr contract. Link
RailTel Corporation of India Ltd receives Rs. 70.94 Cr Work Order from Eastern Railway.. Link
Dee Development Engineers secures purchase order from L&T Energy Hydrocarbon for MFFK Module Fabrication. Link
DCX Systems Ltd has received contract/order has INR 187.29 Cr from Overseas Customer. Link
Advait Infratech receives ₹296 Cr Order for 200 MW Alkaline Electrolyser Manufacturing under SIGHT Scheme. Link
Ahluwalia Contracts (India) Limited has secured an order of ₹350 Cr from Bharat Aluminium Company Ltd (BALCO . Link
Filatex Fashions Ltd's subsidiary has secured an export order valued at approximately ₹366.57 crore. Link
R.P.P Infra Projects Ltd wins new orders worth Rs. 55.50 Crores. Link
Rail Vikas Nigam Limited has received a ₹202 crore Letter of Acceptance for designing and commissioning a 132 KV traction substation Link
Transformers and Rectifiers (India) Limited has secured orders worth ₹252 crore from SPIL. Link
Transformers and Rectifiers (India) Limited has secured orders worth ₹252 crore from SPIL. Link
Centum Electronics Ltd has received a ₹109 crore order from the Defense Research and Development Organisation (DRDO). Link
GPT Infraprojects Ltd has been declared L1 for a ₹204 crore order from South East Railways, India. Link
Genus Power Infrastructures Ltd’s subsidiary has secured three LOAs worth ₹4,469.04 Cr for AMI services, including 5.59 million smart prepaid meters. Link
Upcoming IPOs:
Mainboard IPOs:
Gala Precision Engineering Limited: The company is a manufacturer of precision components such as disc and strip springs (DSS), coil and spiral springs (CSS), and special fastening solutions (SFS).
Open Date: 02-09-2024
Close Date: 04-09-2024
Issue Size: ₹160-167 Cr
Offer Price: ₹503-529
SME IPOs:
1. Jeyyam Global Foods Limited: The company produces Bengali chickpeas, Fried Gram, and Besan Flour for distributors, retailers, hotels, and wholesalers.
Open Date: 02-09-2024
Close Date: 04-09-2024
Issue Size: ₹79-82 Cr
Offer Price: ₹59-61
2. Mach Conferences and Events Limited: The company offers a comprehensive range of customized services for the MICE (Meetings, Incentives, Conferences, Exhibitions) and events sector.
Open Date: 04-09-2024
Close Date: 06-09-2024
Issue Size: ₹119-125 Cr
Offer Price: ₹214-225
3. Namo eWaste Management Limited: The company offers services for the collection, disposal, and recycling of e-waste.
Open Date: 04-09-2024
Close Date: 06-09-2024
Issue Size: ₹48-51 Cr
Offer Price: ₹80-85
Share Splits/Bonus Issue:
Bondada Engineering Ltd has scheduled a stock split for 2nd september, 2024 reducing the face value of its shares from ₹10 to ₹2
Sapphire Foods India Ltd has scheduled a stock split for 5th september, 2024 reducing the face value of its shares from ₹10 to ₹2
VST Industries Ltd has announced a bonus Issue with a record date set for 6th september, 2024 to be issued in a 10:1 ratio.
Reliance Industries is set to reward investors with a 1:1 bonus share issue, the first in 7 years
MOUs/Agreements:
An MoU has been signed between KABIL and Oil India Ltd. for collaboration in projects and exploration. Link
RVNL and Patel Engineering Ltd have signed an MoU for collaboration on hydro and infrastructure projects in India and abroad. Link
Vimta Labs Ltd has signed a Business Transfer Agreement with Thyrocare Technologies Ltd to transfer its diagnostics and pathological services business. Link
The Anup Engineering Ltd has signed a Manufacturing and Supply Agreement with Graham India Pvt Ltd and Graham Corporation to expand its market presence. Link
GRSE signed an MoU with NHIDCL for Double-Lane Class 70 modular steel and Bailey bridges. Link
Mahindra Group and Sentrycs Ltd have entered a non-binding MoU to explore developing unique anti-drone solutions in India. Link
Acquisitions:
Emami Limited is acquiring the remaining 49% of Cannis Lupus Services India Pvt Ltd, having already held 47% equity.. Link
Epack Durable Ltd has increased its stake in Epavo Electricals Pvt Ltd from 26% to 50%, achieving 50% ownership. Link
GRM Overseas Ltd has approved a strategic investment in Swmabhan Commerce Pvt Ltd, acquiring a 44% equity stake through primary infusion and secondary buyouts. Link
Power Grid Corporation of India Ltd has acquired Bhadla-III & Bikaner-III Transmission Ltd for a BOOT-based transmission strengthening project from PFC Consulting Ltd. Link
Macrotech Developers Ltd has acquired 100% stakes in Opexefi Services Pvt Ltd and One Box Warehouse Pvt Ltd, making them wholly owned subsidiaries. Link
Krishna Institute of Medical Sciences Ltd has acquired 100 % equity stake of M/s. Chalasani Hospitals Private Limited (QNRI). Link
Other News:
Max Factor has partnered with Shoppers Stop to establish a physical retail presence in India. Link
JBM Electric Vehicles signs agreement with LeafyBus to supply 200 Electric Intercity Luxury Buses. Link
Tanishq and De Beers have formed a strategic collaboration to enhance India’s natural diamond jewelry market. Link
Genus Power Infrastructures Ltd’s subsidiary has secured three LOAs worth ₹4,469.04 Cr for AMI services, including 5.59 million smart prepaid meters. Link
NLC India Ltd has signed a power usage agreement to supply 200 MW of green power
The Great Eastern Shipping Company Limited has contracted to sell its 2011 built Supramax Dry Bulk Carrier, Jag Rani of about 56,820 dwt to an unaffiliated third party. Link
That's all for now! I hope you enjoyed the content. Do share your comments below! Disclaimer: Any stock or company discussed above should not be considered as a Buy/Sell recommendation. We personally or our clients might or might not have a position in any of the stocks discussed. This newsletter is purely is for educational purposes only.
Super bhai thankq very much for your capsule.