Expects market to open one a flat note on account of strong domestic macro (both CPI and IIP better than expectation). However, U.S. stocks declined after a less-than-forecast increase in inflation was seen as giving Federal Reserve officials more flexibility when it comes to pulling back on stimulus. Yields on benchmark 10-year notes fell 5 basis points to 1.26%. Dow Jones and S&P 500 declined 1% and half percent respectively. August Consumer price index (CPI) reported at 0.3% vs 0.5% previous month while Bloomberg expectation was 0.4%. SGX Nifty is flat to positive while Dow Future is up 0.1. China Retail sales and IIP data will announce today. · European stocks erased gains from a smaller-than-expected increase in U.S. consumer prices as investors turned their attention to the prospect of central banks rolling back stimulus and as miners slumped with metals. Both UP and France Index declined half percent each while Germany Index bounced back into positive territory (up 0.1%). · Most Asian stocks fell Wednesday amid growth concerns while Treasuries retained gains in the wake of inflation data that signaled flexibility for the Federal Reserve over when to start tapering stimulus. Hong Kong, Nikkei, Taiwan and South Korea Index declined half to one percent. · Brent Crude gained 1% to above $74/bbl after a U.S. industry report showed a decline in inventories of crude and gasoline, signaling a tightening market. · Gold advanced half percent to $1803/ounce after U.S. inflation data came in lower than expected, easing concerns that the Federal Reserve will be forced to pare back its bond buying soon. · Positive sentiment in the market after retail inflation (CPI) cooled off to a four-month low in August easing concerns over the rise in price pressures in the economy. Moreover, better than expected July IIP data and favorable government policy will be positive impact in the market. FIIs were net buyers Rs1650cr while DIIs were net sellers Rs310cr yesterday. · Actionable – BUY ABB, HAL, Shriram City Union and IRB Infra · Events Today – Cabinet meeting today (expectation of PLI on AUTO and Telecom), China Retail sales and IIP. Ex-dividend – Andhra Sugar Rs10, Bharat Bijlee Rs5, Gujarat Alkalies Rs8, GIPCL Rs2.70, Repco Home Fin Rs2.50, Zensar Tech Rs2.50 · Brokers Radar – Hindalco TGT by Jefferies at 610, CLSA TGT on Hindalco at 570, HDFC TGT by CLSA at 1850, L&T TGT by CLSA at 1950 · Market Summary - Moody's upgrades Tata Steel, HCL Technologies Ties Up With Hancom to Expand Into South Korea, Laurus Labs devloping HIV medicine for Children, Godawari Power approves plans to split each share into 2 and Bonus, Route Mobile incorporates new subsidiary in Saudi Arabia, Tata Motor signs a PPA with Tata Power, India Tax Panel Said To Consider Folding Fuel Sales Into GST: Bloomberg. Escorts and IndusInd Bank come together to serve the farming community. HAL, Rolls Royce Sign Deal For Adour Engine parts. Billionaire Jhunjhunwala, BofA Buy Shares of Zee Entertainment. · Zee Entertainment - Billionaire Rakesh Jhunjhunwala and Bofa Securities Europe SA bought shares in India’s largest publicly-traded television network Zee Entertainment yesterday, Jhunjhunwala’s Rare Enterprises and BofA Securities bought 50 lakh (0.52%) and 48 lakh (0.51%) respectively, in Zee Entertainment on Tuesday – Positive · Moody's Investors Service has upgraded the corporate family rating of Tata Steel Ltd to Ba1 from Ba2. The rating outlook remains stable · Zomato co-founder Gaurav Gupta, who headed the food delivery firm’s supply vertical, resigned on Tuesday after a six-year stint. In an internal mail to employees, Gupta announced his decision to quit – We are long term positive. · Hindustan Aeronautics Ltd. and Rolls Royce signed an agreement for Make in India Adour engine parts to support Roll Royce’s international customer base – Positive · LIC Housin: Promoter Life Insurance Corporation of India's stake in the company increased to 45.239% from 40.313% post preferential allotment. Power Finance Corporation: UBS Group AG increased stake in the company to 5.67% from 3.4% earlier, through the rights issue. - Positive · Power Finance Corporation: UBS Group AG increased stake in the company to 5.67% from 3.4% earlier, through the rights issue.- Positive · Jindal Steel : CRISIL Ratings has upgraded the rating of the Long-Term Bank Facilities of the company to A+/positive from A-/stable.- Positive · Gail (India): The company is in process of accepting Letter of Intent and signing a Sale and Purchase Agreement with IL&FS to acquire 26% equity stake of IL&FS group in ONGC Tripura Power Company - Positive · PI Industries: Shareholders have approved promotion of Rajnish Sarna from Whole-time Director to Joint Managing Director of the company w.e.f. May 18. - Positive · Shree Cement plans a cement plant in Rajasthan at Rs3500cr and company plans up to 106mw solar plant at Rs500cr – Positive · SBI to cut the base rate by 5 bps to 7.45% from today - Positive · HCL Technologies has signed an agreement with Hancom Inc. that will enable the companies to share “advanced software technology solutions” and help them expand operations overseas – Positive · Tata Steel today commissioned a 5 tonnes per day (TPD) carbon capture plant at its Jamshedpur - Positive · CRISIL upgrades long-term, short-term rating of JSPL from CRISIL A with "stable" outlook to CRISIL A+ with "Positive" outlook on the Long Term Bank Facilities – Positive · Wipro, Women's Business Park partner with Salesforce to Host Upskilling Workshop in Saudi Arabia – Positive · Apollo Cancer Centres, will be conducting India's first virtual Duathlon. Apollo D2D Duathlon 2021 - aims to create awareness, support and raise funds for the treatment of childhood cancer - Positive · Escorts reinforces its relationship with IndusInd Bank with a formal MoU that will pave the way for both companies to provide one of the best financial offerings to its customers.- Positive · Laurus Labs announced that it developing the best-in-class second- and third-line medication for HIV treatment in children. The medication is available in high-income countries for the last 15 years, there has so far been no generic or fixed-dose combination of the medication – Positive · Godawari Power approved the proposal to split equity shares of face value of Rs 10 each to 2 equity shares of Rs 5 each. Company decided to reward long term shareholders by issuing bonus shares in the ration of 1:1 – Positive · Dynacons wins IT and IOT contract for Disaster Management Department of MCGM, Mumbai – Positive · JSW Ispat Special Products has announced that the commercial production of Slab, has been commenced at the plant of the Company located at Raigarh, Chhattisgarh with effect from 14th September 2021 - Positive. · R P P Infra Projects Ltd fixes Sep 20, 2021 as record date for rights issue – Positive · TCS Named in the Now Tech Report for Cybersecurity Consulting Services in Asia-Pacific – Positive · IndiGo strengthens domestic network, adds 38 new flights in September – Positive · Isgec Heavy Engineering Ltd receives order for 25 Medical Oxygen Plants from DRDO - Positive · Route Mobile has incorporated a subsidiary namely – ‘Route Mobile Arabia Telecom’, a Limited Liability Company, in Saudi Arabia. Route Mobile has subscribed to 70% of the shares of Route Mobile Arabia Telecom.- Positive development. · Aster DM has extended its facility and launched Aster MIMS Women and Children Block, at Aster MIMS Kottakal on September 13, 2021 Kerala. Aster MIMS Women and Children Block has 75 beds with state-of-the-art facilities. This shall be first exclusive and dedicated Women and Children Hospital of Aster in Kerala.- Positive
