India Markets closed

News & Views To Prepare You For Today's Trading Day

BTVI Webdesk

Before the trading day begins, learn about the number of factors that may influence share prices and the trading climate in stock markets.

Important developments across the globe, current situation of global markets, sentiments, and the overall news related to stocks or companies are some of the key indicators that you need to consider before investing in the stock market.

Also, the views of brokerages on select stocks and buy/hold/sell recommendations with target prices play a significant role in determining how the markets are going to perform.

Here are some of the factors that may affect the stock market today.

GLOBAL CUES

Asian Markets: Asian markets opened lower in trade with Hong Kong continuing to grapple with crisis. Markets will watch Chinese yuan midpoint.

European Markets: European markets ended lower in trade with the pan-European Stoxx 600 closing provisionally down nearly 0.3 per cent.

US Markets: Wall Street ended lower in trade, with Dow dropping 390 points to below 26,000, S&P 500 ending 1.3 per cent lower, while Nasdaq closing with cuts of 1.2 per cent. Bond yields resumed their August downturn, with the benchmark 10-year Treasury yield dipping to 1.63 per cent. The spread between 2-year and 10-year Treasury yields narrowed to only six basis points. The dollar index was at 97.380 after falling from highs above 97.5.

Crude: Oil declined in morning hours of trade, with Brent down 0.12 per cent and WTI down 0.13 per cent. OPEC members continue to cut production to drain global oil stocks.

Gold: The yellow metal held above the $1,500/ounce mark.

STOCKS IN NEWS

Tata Motors: S&P has reaffirms its 'B+'rating on Tata Motors with a negative outlook due to high cash burn at JLR.

The JLR retail sales in July 2019 were 37,945 vehicles, up 5% YoY. Jaguar retail sales were up 3.6% YoY and Land Rover was up 5.6% YoY. JLR results in China were significantly better than the previous year.

JSW Steel: The company's July crude steel production at 1.3 Mn Tonnes, whichis down 4%.

Maruti Suzuki: The compnay has introduced a diesel variant of Tour-M Car, priced at Rs 9.81 lakh in Delhi.

Allahabad Bank: The lender has cut the MCLR by 15 to 20 bps across tenors w.e.f Aug 14

Jet Airways: The debt laden company has received three EOIs and the Panama Based Avantulo Group is one of its applicants. The two other applicants are U.S & Russia based PE firms. Etihad, Hinduja, AdiGroup did not submit their EoIs. RP will check for the eligibility of EoIs Received Before proceeding.

Anil Agarwal of Vedanta said that the EoI For Jet Airways by Volcan Investment was exploratory in nature and that the company does notintend to pursue the EoI further due to other priorities. He also added that he was sure that many other airlines and onvestors will look at Jet Airways.

DHFL: The promoters of the company has pledged 39.2% stake of co to Union Bank.

Bharti Airtel: The telecom company has refuted reports of a stake sale and tsaid that there was no proposal to sell a stake in the co.

Sadbhav Infraprojects: The company board has agreed to explore a merger option between the company and Sadbhav Engineering. The board will study the valuation report and will discuss to set a future course of action.

Balkrishna Industries: The company will temporarily suspend $100mn investment in its greenfield tyre project in the United States. This decision was taken due to a challenging business environment.

NIIT: The company has approved a proposal for buyback of 16% of equity capital (2.68cr shares) at Rs 125 per share

Sintex Plastics Technology: The company will sell the overseas business to a consortium of PE investors. It has inked a pact to sell Sintex NP to Xtech Invest for €155mn

NATCO Pharma: USFDA has completed the inspection of Natco’s Mekaguda API facility. It has received six observations which are mostly procedural in nature and the company believes that none of the observations is related to data integrity. The company has said that all the observations can be addressed within a short period of time.

UNICHEM Lab: The pharma company has received ANDA approval from the USFDA for Chlorthalidone Tablets. The product will be commercialised from Unichem’s Ghaziabad plant.

Cox & Kings: The company has achieved a standstill for 180 days as per inter-creditor agreement. The company's UK arm has declared insolvency and also withdrawn proposal to give a dividend of Rs 1 per share citing current financial conditions.

NDTV: The founders Radhika & Prannoy Roy were stopped from leaving the country. They were stopped at the immigration on the basis of a corruption case initiated by the CBI against them.

IL&FS: The company has filed for final approval of 51% stake sale in wind energy biz. Orix Corp will acquire the balance 51% stake in  wind energy subsidiary of the company Rs 4800 Cr, with no haircuts.