Tag: angel one

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Market News Top 10 News

RBI Keeps Repo Rate Unchanged at 6.5% – Top Indian Market Updates

Here are some of the major updates that could move the markets on Monday:

RBI keeps repo rate unchanged at 6.5%

The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% for the fourth consecutive period since May 2023 to control inflation. However, retail inflation stood at 6.83% in August. The GDP growth forecast for FY24 was retained at 6.5%, with Q2 at 6.5%, Q3 at 6.0%, and Q4 at 5.7%. RBI will also consider bond sales via Open Market Operations (OMO) to manage liquidity.

Read more here.

Kalyan Jewellers to launch 33 more showrooms before Diwali

Kalyan Jewellers plans to open 33 new showrooms in India before Diwali. The company will unveil showrooms in Kalyan and Candere formats across the country. It launched 13 showrooms across non-south markets during Q2FY24. Additionally, the company signed six letters of intent (LoIs) for the first set of pilot franchised showrooms in the south region.

Read more here.

Sun Pharma files new drug application with USFDA

The US Food & Drug Administration (USFDA) has accepted Sun Pharma’s drug application for deuruxolitinib. The drug is an investigational oral drug for the treatment of adults with moderate to severe alopecia areata. The application is based on two pivotal Phase III trials which included over 1,200 patients across more than 135 clinical trial sites.

Read more here.

JK Cement signs agreement with Vakrangee to access rural, semi-urban markets

Vakrangee has formed a strategic partnership with JK Cement for lead generation and facilitation of the sale of grey cement products. The sale of the products will be through Vakrangee’s Kendra network. Vakrangee Kendras represents an exclusive branded format of outlets that offer a wide array of financial products and services.

Read more here.

ONGC approves strategies to enhance OPaL’s financial position

Oil & Natural Gas Corporation Ltd’s (ONGC) board of directors has approved a series of strategic measures aimed at strengthening the financial position of ONGC Petro additions Ltd (OPaL). The company has extended its support for compulsorily convertible debentures (CCDs) issued by OPaL, amounting to ₹5,615 crore. The extension ensures the continuity of CCDs beyond their current maturity period. OPaL is a joint venture (JV) of ONGC, GAIL and GSPC.

Read more here.

Angel One’s client base grew 47% YoY in September

Angel One Ltd reported a 47% YoY growth in its total client base in September and Q2FY24. The growth was aided by a significant rise in new customer acquisition. The company’s client base rose from 1.63 crore in August to 1.7 crore in September, up 4.4% month-on-month (MoM). Its gross client acquisition jumped 98% YoY during the quarter.

Read more here.

TCS to consider share buyback on October 11

Tata Consultancy Services Ltd (TCS) will consider a proposal for the buyback of equity shares on October 11. The company will consider its September quarter earnings and an interim dividend (if any) on the same day. TCS had carried out a share buyback worth ₹18,000 crore in 2022, when it repurchased 4 crore shares at ₹4,500 per share.

Read more here.

Som Distilleries launches QIP to raise funds

Som Distilleries and Breweries Ltd is planning to raise funds through a qualified institutional placement (QIP). It will raise up to ₹350 crore through public or private offerings or the QIP route. The company set the floor price for its QIP at ₹349.24 per share, a 9% discount to Thursday’s closing price of ₹381.55. QIP is a mode of resource raising available for listed firms to mobilise funds from the domestic market.

Read more here.

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Market News Top 10 News

RIL Partners With NVIDIA to Develop AI Infra – Top Indian Market Updates

Here are some of the major updates that could move the markets on Monday:

Reliance partners with NVIDIA to develop India’s own AI infra

Reliance Industries is partnering with NVIDIA to develop India’s own large language model. The model will be trained on local languages and tailored for generative artificial intelligence (Al) applications. According to Nvidia, the companies will work together to build Al infrastructure that is “more powerful than the fastest supercomputer in India today”. NVIDIA will provide access to the most advanced NVIDIA GH200 Grace Hopper Superchip and NVIDIA DGX Cloud, an Al supercomputing service in the cloud.

According to a Reuters report, Tata Group is also likely to announce a partnership with NVIDIA for AI.

Read more here.

NTPC Green Energy to develop green hydrogen hub in Tamil Nadu

NTPC Green Energy Ltd (NGEL) has partnered with V O Chidambaranar Port Authority (VOCPA) to develop a green hydrogen hub at Tuticorin in Tamil Nadu. Both entities signed a Memorandum of Understanding (MoU) in this regard. Green hydrogen and its derivatives such as green ammonia and green methanol will be produced at the hub to be built on the land provided by VOCPA.

Read more here.

AU Small Finance partners with Bank Bajaj Allianz Life Insurance to offer insurance products

AU Small Finance Bank (AUSFB) and Bajaj Allianz Life Insurance have entered into a strategic partnership to offer insurance products. The partnership will help AUSFB’s customers gain access to Bajaj Allianz Life’s life insurance products. AUSFB aims to leverage technology-based solutions for its customers through life insurance products offered by Bajaj Allianz Life Insurance.

Read more here.

Oil India plans net zero by 2040

Oil India Ltd aims to invest ₹16,500 crore ($1.98 billion) in clean energy projects to meet its 2040 net zero carbon emissions goal. Indian Oil Corp, Bharat Petroleum Corp, Hindustan Petroleum Corp, GAIL (India) Ltd, and Oil & Natural Gas Corp have already announced their net zero goal. Together with Oil India, the six state-run energy companies plan to invest ₹6.38 lakh crore towards reducing carbon emissions.

Read more here.

Natco Pharma sued in US for generic cancer drug

Natco Pharma and other drug makers have been named defendants in an antitrust lawsuit regarding a generic cancer treatment drug in the US. Drug makers including Celgene Corporation, Bristol Myers Squibb, and Breckenridge Pharmaceutical Inc. have been named defendants by Louisiana Health Service & Indemnity Company, D/B/A Blue Cross and Blue Shield of Louisiana and HMO Louisiana Inc. regarding anti-cancer treatment medication Pomalidomide.

Read more here.

SJVN signs agreement with BBMB to set up 18 MW solar project

SJVN Ltd has signed a 25-year Power Purchase Agreement (PPA) with Bhakra Beas Management Board (BBMB). The PPA is to set up an 18-megawatt (MW) solar power project at an investment of ₹90 crore. SJVN signed the agreement through its wholly-owned subsidiary SJVN Green Energy Ltd (SGEL). The project will be developed on the land parcels of BBMB in Himachal Pradesh and Punjab.

Read more here.

Coffee Day Global faces ₹228-crore default allegations

Coffee Day Global Ltd (CDGL) has been facing a legal challenge under Section 7 of the Insolvency and Bankruptcy Code, 2016. CDGL owns and operates the Cafe Coffee Day chain of cafes. The case has been brought by IDBI Trusteeship Services Ltd and filed with the National Company Law Tribunal (NCLT) in Bengaluru. The lawsuit alleges that Coffee Day Global has defaulted on payments totalling ₹228.5 crore.

Read more here.

Titagarh Rail to expand production capacity by year-end

Titagarh Rail Systems plans to raise its production capacity to 1,000 wagons per month by the end of this financial year. Currently, it is operating at a capacity of 600-700 wagons per month. The decision comes as the company continues to secure orders and expand its presence in the domestic (Indian Railways) and export markets.

Read more here.

Angel One to enter into asset management and lending business

Angel One is all set to enter the lending business by the year-end. The company is also planning to get into asset management services. Angel One has been experiencing steady organisational growth in the recent past by adding diversified business verticals into its fold. It also plans to offer a broader spectrum of financial services as part of this growth strategy.

Read more here.

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Daily Market Feed Post Market Analysis

Consolidation at the Top! Breakout or Breakdown? – Post-Market Analysis

post-market analysis | marketfeed

NIFTY started the day at 19,564 with a gap-up of 36 points. Throughout the day, the index consolidated within just a 55-point range between 19,530 and 19,580 levels. Nifty closed at 19,574, up by 46 points or 0.24%.

Nifty chart September 5 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 44,625 with a small gap-up of 47 points. Unlike Nifty, Bank Nifty showed weakness today. After making a double top near 44,700 levels, the index fell more than 250 points to 44,400 levels. BNF closed at 44,532, down by 46 points or 0.1%.

Bank Nifty chart September 5 - post-market analysis | marketfeed

All other indices except Nifty Finserv (-0.17%) closed flat-to-green. Nifty Media (+3.19%) moved up the most.

Major Asian markets closed mixed. European markets are currently trading flat-to-red.

Today’s Moves

Apollo Hospital (+3.31%) was NIFTY50’s top gainer. The company launched an ‘enhanced connected care’ program to improve its patient monitoring system. 

MMTC (+20%) hit 20% upper circuit on the back of strong volumes. The stock has rallied 50% in 3 trading sessions.

Raymond (+9.85%) hit a 52-week high of 2,240 today after brokerage firms Jefferies and Motilal Oswal initiated coverage on the stock with a ‘Buy’ rating.

UltraTech Cement (-1.49%) was NIFTY50’s top loser. 

Angel One (-3.75%) fell sharply. The company’s gross client acquisitions rose 64.9% YoY and 19% over last month to 7.3 lakh.

Markets Ahead

Markets are near resistance zones and holding major levels. A breakout on the upside can take the markets further up. And if rejection is taken, the indices can continue the down move with strength.

Nifty: The major resistance level for the index is at 19,600, which is also the Fibonacci rejection level of 50% drawn from the all-time high (ATH) of 19,990 levels. A breakout from 19,600 can confirm the trend reversal, and markets can turn bullish. We could plan to buy on dips, but if Nifty breaks the current support zones of 19,520, the index can again fall to 19,460 and 19,360 levels.

Bank Nifty: The important 50% fib rejection is near 45,000 round levels. But the immediate resistance level to watch out for is 44,800. The immediate support is near 44,400 levels, and a breakdown from there can take the index down to 44,000.

Fin Nifty: Being FINNIFTY expiry today, India Vix was at all-time lows below 11 and option premiums were very low. This created some confusion for option sellers. The index was bearish throughout the day— moving down gradually. As the fall was not quick, the implied volatility (IV) and premiums didn’t spike much, which could have created some trouble for option buyers. But it was a relatively easy expiry for option sellers.

The G20 Summit will kick off on Sept 8 in New Delhi. Leaders representing the world’s 20 major economies will address and seek resolutions for concerns like digital transformation, climate financing, Sustainable Development Goals (SDGs), food security, and other pressing issues.

How did Fin Nifty expiry go? Are you in net profit or loss? Let us know in the comments section of the marketfeed app.

Don’t forget to tune into The Stock Market Show at 7 PM on marketfeed’s YouTube channel!

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Daily Market Feed Pre Market Report

Eyes on HDFC Bank – Pre Market Analysis

Here are some of the major updates that could move the markets today:

Stocks

Avenue Supermarts Ltd reported a mere 2% rise in net profit for the quarter ended June to Rs 695 crore, despite a double-digit growth in revenue.

Shares of HDFC Bank, LTIMindtree, and Tata Elxsi will be in focus today as the companies will announce their first quarter results.

Leading broker Angel One has been from onboarding new authorised persons (APs) for alleged failure to monitor the operations of its APs.

What to Expect Today?

NIFTY opened with a gap-up at 19,495 on Friday. There was weakness in the morning due to the long unwinding on Thursday. The market picked up and rallied, especially in the last hour. NF closed at 19,564, up by 151 points or 0.78%.

BANK NIFTY opened with a gap-up at 44,861. It was a down-trending day till 3 PM. There was a huge up-move at 3 PM and BN closed at 44,819, up by 154 points or 0.35%.

IT shot up by 4.5%.

The US markets and the European markets closed mixed with a negative bias.

The Asian markets are trading lower.

The U.S. Futures and European futures are trading lower.

GIFT NIFTY is trading at 19,633.

All the factors combined indicate a flat opening.

NIFTY has supports at 19,500, 19,450 and 19,385. We can expect resistances at 19,600, 19,650 and 19,700.

BANK NIFTY has supports at 44,650, 44,500 and 44,440. Resistances are at 44,950, 45,100 and 45,370.

NIFTY has the highest call OI build-up at 19,600. The highest put OI build-up is at 19,500. 

BANK NIFTY has the highest call OI build-up at 45,000. The highest put OI build-up is at 44,500.

Foreign Institutional Investors net-bought shares worth Rs 2,600 crores. Domestic Institutional Investors net-sold shares worth 800 crores.

INDIA VIX is at 10.7.

We were expecting a tick mark-like price action as we discussed on Friday’s Pre Market Analysis. The reason is that there was long unwinding on Thursday. The market moved exactly like a tick mark but there was a huge up-move at 3 PM.

Bank Nifty saw immense short covering towards the end. Will there be a continuation to the up-move? 45,000 is going to be the testing zone.

India’s Wholesale Price Inflation came out at -4%, better than expected. As we discussed earlier, negative figures are fine for now.

We do not have major events this week from the global front. However, there are results coming out and more importantly, Reliance demerger.

HDFC Bank will announce their results today. Let us watch the stock closely. It is more important this time as the weightage has increased.

I will watch 19,385 on the downside in NIFTY. 19,600 can be watched on the upside.

Make sure that you tune in to The Stock Market Show at 7 PM on our YoutTube channel ‘marketfeed by Sharique Samsudheen’. Follow us on the marketfeed app’s Signal section to get real-time updates from the market. All the best for the day!

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Editorial

How to Add Nominee to Your Demat Account – marketfeed

Adding a nominee to your Demat account is now mandatory! If you do not add a nominee by March 31, 2023, your Demat or trading account will get frozen. You won’t be able to make investments or place trades!

So let’s see how to add a nominee for major brokers like Zerodha, Fyers, IIFL, Upstox, Angel One & Groww!

⚠️ You can choose to opt out of this entire process. But you’ll have to submit a no-nomination form with your broker.

How to Add a Nominee on Zerodha?

1. Log in to https://console.zerodha.com/account/nominee

2. Click on “Add Nominee” (up to 3 nominees can be added).

3. Enter the nominee details and upload an ID proof. You can also specify how your holdings/funds will be distributed to the nominees.

4. Click on “Continue”.

5. Click on Proceed to e-sign.

6. Click on Sign Now.

7. Accept the terms and conditions, enter the Aadhaar number of the account holder, and click on Send OTP.

8. Enter the OTP and click on Verify OTP.

How to Add Nominee on Fyers?

1. Go to https://myaccount.fyers.in/Nominations

3. Select the option ‘I wish to nominate’ (Select I do not wish to nominate to opt out).

4. Enter the required Nominee details and click on ‘Submit.’

5. Complete Aadhaar E-sign in the Digio pop-up. (Click on allow pop-up if asked).

How to Add Nominee on IIFL?

1. Log in to https://ttweb.indiainfoline.com/Trade/ClientProfileDetailed.aspx

2. Click on “Nominee Details”

3. Add all the necessary details and click “Proceed to E-sign”

4. Complete verification with Aadhaar OTP.

How to Add a Nominee on Upstox?

1. Log in to https://account.upstox.com/nominee

2. Click on “Add Nominee” and enter all details.

3. Click on ‘Proceed for E-Sign’ and enter your Aadhar number.

4. Next, enter the OTP received on the mobile number linked with Aadhar and complete the process.

How to Add a Nominee on Angel One?

1. Log in to Angel One’s web platform.

2. Find the dropdown menu on the right-hand side, next to your Client ID. Click on “My Profile” to find the “Add-Nominee” option.

3. Click on ‘Add Nominee’ and add details like name, date of birth, relationship, PAN and allocation %.

4. Click on ‘Proceed for E-Sign’ and enter your Aadhar number.

5. Next, enter the OTP received on the mobile number linked with Aadhar and complete the process.

How to Add Nominee on Groww?

1. Go to https://groww.in/user/profile/nominee-details

2. On the ‘Add Nominee’ page, enter the nominee’s details as required.

3. Click on ‘Finish with Aadhar E-Sign’. Please make sure you Sign using your own Aadhaar number, and not the nominee’s Aadhaar number.

(You can add nominees online only once. Changing or adding new nominees requires an offline process).

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Market News Top 10 News

Adani Enterprises Files Papers for Rs 20,000Cr FPO – Top Indian Market Updates

Here are some of the major updates that could move the markets tomorrow:

Adani Enterprises files papers for ₹20,000 crore FPO

Adani Enterprises Ltd (AEL) has filed an offer letter with stock exchanges for a proposed ₹20,000 crore follow-on public offer (FPO). The company is examining the possibility of launching the FPO in the last week of January. The FPO could result in AEL’s total promoter stake falling by 3.5%. The promoters hold 72.63% of AEL, while the remaining 27.37% is with public shareholders.

In other news, AEL signed an agreement to launch a pilot project to develop a hydrogen fuel cell electric truck (FCET) for mining logistics and transportation with Ashok Leyland and Canada-based Ballard Power.

Read more here.

India Pesticides expects revenue of ₹100 crore from new herbicide product

India Pesticides expects to earn revenue of ₹100 crore from the launch of its new Herbicide Technical product. The herbicide is used to control grass and broad-leaved weeds in the pre-or early post-emergence stages. It is primarily used in maize, soybeans, tomatoes, potatoes, sunflowers, wheat, and rice. The product will be manufactured at the company’s Sandila facility in Uttar Pradesh and will be exclusive to export markets.

Read more here.

Reliance Jio launches True 5G in 16 more cities

Reliance Jio has expanded its 5G services to 16 more cities, taking its total coverage to 134 cities. It is now available in Kakinada, Kurnool (Andhra Pradesh), Silchar (Assam), Davanagere, Shivamogga, Bidar, Hospet, Gadag-Betageri (Karnataka), Malappuram, Palakkad, Kottayam, Kannur (Kerala), Tiruppur (Tamil Nadu), Nizamabad, Khammam (Telangana), and Bareilly (Uttar Pradesh). Jio users in these cities can upgrade to 5G through the Jio Welcome Offer and access data speeds of 1 Gbps+.

Read more here.

Bank of India Q3 Results: Net profit rises 12% YoY to ₹1,151 crore

Bank of India reported a 12% year-on-year (YoY) increase in net profit to ₹1,151 crore for the quarter ended December (Q3 FY23). The net interest income (NII) rose 64% YoY to ₹5,596 crore during the same period. The gross non-performing assets (GNPA) ratio improved from 10.43% in Q3 FY22 to 7.66% in Q3 FY23. 

Read more here.

Phoenix Mills subsidiary completes acquisition of Janus Logistics for ₹26 crore

Phoenix Logistics & Industrial Parks Pvt Ltd (PLIPPL) has completed the acquisition of a 100% equity stake in Janus Logistics and Industrial Parks Pvt. Ltd. for a total cash consideration of ₹26.03 crore. PLIPPL is a wholly-owned subsidiary of realty developer Phoenix Mills. Janus operates in the logistics and warehousing business. It owns a 33-acre land parcel in the Faridabad and Sohna districts of Haryana.

Read more here.

Mastek Q3 Results: Net profit falls 20% YoY to ₹67 crore

Mastek Ltd reported a 19.6% YoY increase in consolidated net profit to ₹67.1 crore for the quarter ended December (Q3 FY23). The IT company’s revenue from operations rose 19.3% YoY to ₹658.7 crore during the same period. EBITDA stood at ₹113.7 crore in Q3, down 2.2% YoY. Mastek’s board has approved an interim dividend of ₹7 per share.

Read more here.

Angel One Q3 Results: Net profit rises 38% YoY to ₹228 crore

Angel One reported a 38.6% YoY increase in consolidated net profit to ₹227.98 crore for the quarter ended December (Q3 FY23). The brokerage company’s revenue from operations rose 25.5% YoY to ₹759.66 crore during the same period. Its client base grew 60.7% to 1.25 crore in Q3. Angel One’s board has approved an interim dividend of ₹9.6 per share.

Read more here.

Innova Captab, Blue Jet Healthcare gets SEBI approval to float IPO

The Securities & Exchange Board of India (SEBI) has given approval to pharma companies Innova Captab Ltd and Blue Jet Healthcare to raise funds through an Initial Public Offering (IPO). Innova Captab has proposed fresh issuance of equity shares worth ₹400 crore and an offer for sale (OFS) of 96 lakh shares through its IPO. The IPO of Blue Jet Healthcare is completely an OFS of up to 2.16 crore equity shares.

Read more here.

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Market News Top 10 News

Hero MotoCorp Expands Operations in Argentina – Top Indian Market News

Hero MotoCorp expands operations in Argentina

Hero MotoCorp Ltd has announced the expansion of its operations in Argentina, with the opening of a flagship dealership in Buenos Aires in partnership with Gilera Motors Argentina (GMA). GMA will make investments to rapidly expand all business operations for Hero MotoCorp’s products. This move is expected to generate nearly 500 new jobs in the region.

Read more here.

DoT returns bank guarantees worth Rs 6,500 crore to Airtel, Vodafone Idea

The Department of Telecommunications (DoT) has returned a cumulative amount of ~Rs 6,500 crore of bank guarantees (BGs) to Bharti Airtel and Vodafone Idea over the last few days. In the latest telecom relief package, the government cut BG requirements against statutory dues such as licensee fees by 80%. The BGs that are being returned were against license fees and spectrum usage charges.

Read more here.

L&T signs pact with Kemroc for distribution of cutting-edge products in India

Larsen & Toubro (L&T) has entered into a pact with Germany-based Kemroc to distribute its cutting-edge products in India. Kemroc is a global manufacturer of attachments for excavators and backhoe loaders. The agreement covers Kemroc-developed special attachments, including its patented EK series of chain cutters. This strategic partnership will enable L&T to expand its product offerings and provide comprehensive solutions to customers in the construction industry in India.

Read more here.

Angel One’s client base jumps 146% YoY to 7.32 million in November

Angel One Ltd reported a 146% year-on-year (YoY) jump in client base to 7.32 million in November 2021. Its client base grew 5.6% compared to the previous month. Gross client acquisition stood at 0.45 million in November 2021, rising 3.5% from October 2021 and 193% from November 2020. The company’s retail turnover market share in the overall equity segment rose to 21% during the same month.

Read more here.

Ashoka Buildcon emerges lowest bidder for Road Ministry project

Ashoka Buildcon Ltd has emerged as the lowest (L-1) bidder for a tender floated by the Ministry of Road Transport & Highways. The project consists of the construction of a six-lane link road (NH-1665) with a paved shoulder configuration to Mopa Airport in Goa. The quoted bid price of the project is Rs 76,941 crore.

Read more here.

SPARC signs pact with Biomodifying for licensing of novel drug targets against cancer

Sun Pharma Advanced Research Company (SPARC) has entered into an agreement with US-based Biomodifying LLC. The partnership seeks to exclusively license Biomodifying’s intellectual property (IP), including all patents and patent applications. It also includes antibodies developed for multiple uses including cancer. Under the agreement, Biomodifying is eligible for an up-front payment, milestone payments on pre-specified clinical, regulatory, and commercial milestones, as well as royalties on sales.

Read more here.

Digital First revolution to make India more inclusively prosperous: Mukesh Ambani

Reliance Industries Ltd (RIL) Chairman Mukesh Ambani said the rapid shift towards the adoption of digital technologies, and very soon a ‘digital first’ world, would result in a more equal world. Ambani said he was proud of the fact that Jio had taken the lead in ensuring that people had access to affordable high-speed data connectivity, a prerequisite for the digital revolution. He is also bullish on blockchain technology, stating that it will redefine the financial world. Mukesh Ambani was speaking at the Infinity Forum, hosted by International Financial Services Centres Authority (IFSCA).

Meanwhile, Prime Minister Narendra Modi also called for a “fintech revolution” to achieve financial empowerment of every single citizen.

Read more here.

Govt plans to bring uniform base price for city gas distribution: Report

As per a report from CNBC-TV18, the Ministry of Petroleum & Natural Gas has prepared a mechanism for uniform base price for gas. The uniform base price formula will be based on Regassified Liquified Natural Gas (RLNG), Compressed Biogas, and domestically produced gas. This move will help increase the availability of gas from different sources and meet the gas requirements of city gas distributors (CGDs). 

Read more here.

Morepen Labs gets USFDA approval to export Allegra

Morepen Laboratories Ltd has received approval from the US Food & Drug Administration (USFDA) to export Fexofenadine (Allegra) to the US market. Fexofenadine is the most widely used, second-generation antihistamine drug used for the treatment of allergy symptoms and hay fever. Morepen Labs is the third-largest exporter of the drug in the world and is likely to move up in the ranks after this approval.