THE FINANCIAL LITERACY CELL, SRCC
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VITTSHALA
WEEKLY
BAZAAR
ARKET INDICES
OVERVIEW
Overall This week, the market was Bearish , major indices like the Sensex and Nifty 50
experienced losses.
A complete overview of all the major indices is provided below:
NAME OF INDEX
OPENING
VALUE
(14/8/23)
CLOSING
VALUE
(18/8/23)
CHANGE
POINTS
% CHANGE
NIFTY 50
19576.85
19310.15
-266.7
-1.36%
SENSEX
65811.40
64948.66
-862.74
-1..31%
INDIA VIX
11.5225
12.1425
0.62
5.4%
Nifty 50: The NIFTY 50 is a benchmark Indian stock market index representing the
weighted average of 50 of the largest Indian companies listed on the National
Stock Exchange.
Sensex: Sensex is the benchmark index of Bombay Stock Exchange comprising of
30 of the largest and most actively traded stocks on the BSE.
India VIX: India VIX is India Volatility Index which indicates the expected market
volatility over the next 30 calender days based on the NIFTY Index Option Prices.
TOP MARKET
GAINERS
O F
T H E
W E E K
ADANI PORTS & SEZ is the top gainer of this week.
NIFTY 50 INDEX
CURRENT
PRICE
CHANGE
(18 AUG 23)
COMPANY
PREV CLOSE
(11 AUG 23)
ADANI PORTS & SEZ
802.80
835.90
33.10
4.12%
HCL TECH.
1134.30
1173.70
39.40
3.47%
TITAN CO
2988.55
3050.45
61.90
2.07%
ULTRATECH CEMENT
8102.20
8214.85
112.65
1.39%
RELIANCE INDUSTRIES
2536.45
2556.80
20.35
0.80%
HINDUSTAN UNILEVER
2536.70
2554.75
18.05
0.71%
MARUTI SUZUKI
9397.60
9456.05
58.45
0.62%
MAHINDRA & MAHINDRA
1545.40
1552.65
7.25
0.47%
DR. REDDYS LAB
5851.15
5874.45
23.30
0.40%
AXIS BANK
939.75
943.05
3.30
0.35%
CHANGE %
TOP MARKET
LOSERS
O F
T H E
W E E K
HINDALCO is the top loser of this week.
NIFTY 50 INDEX
COMPANY
PREVIOUS
CLOSE
(11 AUG 23)
CURRENT
PRICE
(18 AUG 23)
CHANGE
CHANGE %
HINDALCO
468.90
439.50
-29.40
-6.27%
JSW STEEL
831.50
787.10
-44.40
-5.34%
UPL
609.65
578.45
-31.20
-5.12%
INDIABULLS HOUSING
164.80
156.50
-8.30
-5.04%
VEDANTA
243.85
233.35
-10.50
-4.31%
GAIL INDIA
117.60
112.60
-5.00
-4.25%
INDUSIND BANK
1430.20
1371.70
-58.50
-4.09%
BAJAJ FINANCE
7143.85
6862.10
-281.75
-3.94%
BAJAJ FINSERV
1519.40
1460.15
-59.25
-3.90%
HERO MOTOCORP
3035.90
2927.05
-108.85
-3.59%
MARKET NEWS
From Jio Financial
Services listing to
IPO action, cues to
watch out for next
week
Indian frontline indices S&P BSE Sensex and Nifty50 ended the
holiday-curtailed week on nearly 0.60% decline led by selling in IT
and metal stocks. Amid a host of important domestic and global
events lined up during this week, know what lies ahead for the stock
markets."For the first time in 15 months, the Indian equity market fell
for the fourth week in a row. Sensex, Nifty, and Nifty Bank fell nearly
1% each with 31 Nifty stocks recording losses. This can be attributed to
profitbooking in the Nifty metal sector and selling activity by foreign
institutional investors (FIIs). An intriguing aspect is that, despite this
downturn, the midcap and smallcap markets have maintained a
bullish sentiment throughout this period," Pravesh Gour, Senior
Technical Analyst, Swastika Investmart said. Macroeconomic
indicators, trends in global stock markets, and Foreign Institutional
Investors' (FIIs) activities will be pivotal in shaping market trends in
the coming days, Gour said, while highlighting the movement of
rupee against the dollar along with the listing of Jio Financial
Services on Monday, August 21.
Titan
buys
remaining 27% in
CaratLane valuing it
at Rs 17,000 crore:
CaratLane.The deal ranks as the second largest exit for an
ecommerce founder in India after Flipkart founders Sachin Bansal
and Binny After months of negotiations, Tata group company Titan
has bought out the residual 27.18% stake in its subsidiary CaratLane
from the omnichannel jewellery brand’s founder Mithun Sacheti and
his family members for Rs 4,621 crore in cash. The latest transaction
will ascribe a valuation of Rs 17,000 crore toBansal sold their stakes to
Walmart.The omnichannel jewellery brand’s founder Mithun Sacheti
and his family have sold their stake in the company. The deal ranks as
the second-largest exit for an e-commerce founder after Flipkart
founders Sachin Bansal and Binny Bansal sold their stakes to
Walmart. In a regulatory filing, Titan said that it was acquiring 91.90
lakh equity shares in CaratLane, following which it will hold a 98.28
per cent stake in the company. It currently holds 71.09 per cent of the
total equity share capital of CaratLane on a fully diluted basis.
In FY23, CaratLane recorded a turnover of ₹2,177 crore, a 72 per cent
jump from ₹1,267 crore it clocked in FY22. In FY21, CaratLane
recorded revenues of ₹723 crore.Titan first invested in CaratLane in
2016, which had been in a strategic vendor relationship with Tanishq
since 2010. Between 2016 and 2019, Titan bought shares of the
omnichannel retailer in tranches, mainly via a secondary purchase of
shares.The shares of Titan closed 0.76 per cent down at ₹3,049.15 at
the Bombay Stock Exchange (BSE)
M-cap of seven of
top 10 firms down
by Rs 80,200 cr;
TCS, HDFC Bank
biggest laggards
The combined market valuation of seven of the top 10 valued firms
declined by Rs 80,200.24 crore last week amid a weak trend in
equities, with Tata Consultancy Services and HDFC Bank emerging
as the biggest laggards. In a holiday-shortened last week, the BSE
benchmark fell by 373.99 points or 0.57 per cent. From the top 10
pack, Reliance Industries, Hindustan Unilever and Infosys were the
gainers while Tata Consultancy Services (TCS), HDFC Bank, ICICI
Bank, ITC, State Bank of India, Bharti Airtel and Bajaj Finance saw a
decline in their valuation. The market valuation of Tata Consultancy
Services (TCS) tanked Rs 29,894.45 crore to Rs 12,32,240.44 crore.
HDFC Bank's valuation declined by Rs 19,664.06 crore to Rs
12,02,728.20 crore. The market valuation of Bajaj Finance eroded by
Rs 12,233.5 crore to Rs 4,15,763.47 crore and that of ITC tumbled Rs
8,338.45 crore to Rs 5,50,821.26 crore.Bharti Airtel's market
capitalisation (mcap) fell by Rs 8,081.38 crore to Rs 4,78,730.70 crore
and that of State Bank of India dipped Rs 1,026.33 crore to Rs
5,11,424.89 crore.
SEBI
bringing
norms
for
the
follow on offers by
REITs
In order to develop the market for emerging investment instruments,
Sebi is looking to bring in norms for follow-on offers by real estate
investment trusts (REITs) and infrastructure investment trusts
(InvITs). REITs and InvITs were introduced in India to provide investors
with an opportunity to gain exposure to real estate and infrastructure
projects respectively, with diversification of risks through pooling
arrangements.Generally, REITs invest majorly in completed and rentgenerating real estate assets. Privately placed InvITs can invest in
under-construction assets as well as completed and revenuegenerating assets and public InvITs can invest majorly in completed
and revenue-generating assets. Krishnan S Iyer, CEO, of NDR InvIT
Managers, said given the capital requirements needed for the growth
of infrastructure, it is very important that both domestic institutions,
mutual funds, and of course retail investors increasingly participated
in it. "These are well structured, regulated, and transparent vehicles
that give them an avenue for developing a perpetual stream of cash
flows, " Iyer added. To streamline the process of public issues of REITs
and InvITs, the time taken for allotment and listing after the closure of
the issue was reduced from 12 to six working days. "REITs and InvITs
are other innovative mechanisms to finance real estate and
infrastructure which in turn can have a multiplier impact on India's
economic growth," Sebi said. Last week, Sebi notified rules
introducing special rights to unitholders of REITs who can now
nominate representatives on the boards. Also, the regulator
introduced the concept of a self-sponsored REIT. REITs and InvITs
have continued to witness interest from the market with three new
InvIT registrations and one new REIT registration during 2022-23. This
takes the total registered entities to 20 for InvITs and five for REITs.
RESULTS
ITC Ltd, on 14 August 2023, declared
its Q1 results for FY24 (quarter ending
June 2023), reporting a 17.5% rise in its
net profit to Rs. 4,902
crores as
compared to Rs. 4169.38 crores yearon-year. The company’s revenue from
operations, net of excise duty declined
by 8.5% to Rs. 15,828.2 crores, as given
by ET.
Vodafone Idea, on Monday, declared
its Q1 results for quarter ending June
2023, reporting a loss of Rs. 7,840
crores from Rs. 7,297 crores reported
in the year ago quarter. The
company’s Revenue from Operations
also rose by marginal 2% to ₹10,655
crore from ₹10,410 crores, YoY.
Divi's Laboratories Ltd., on 14 August
2023, declared its Q1 results for FY24,
reporting
an
49%
fall
in
its
consolidated net profit to Rs. 356
crores from Rs. 702 crores year-onyear. The company’s revenue from
operations also fell about 21% to Rs.
1,778 crores year-on-year from Rs.
2,255 crores previously.
On 14 Aug 2023, PC Jewellers reported
a consolidated net loss for Q1 of Rs. 172
crores as compared to a profit of Rs.
7,443 crores in the previous year in the
same quarter. The company’s revenue
from operations plunged 87.6% to Rs
6,768 lakhs as the company remains
involved in a legal tangle with
multiple banks.
On Monday, 14 August 2023, Senco Gold reported a 23% rise in its consolidated net profit for Q1
of Rs. 27.6 crores as compared to a net profit of Rs. 22.5 crores in the same quarter in the
previous year. The revenue from operations also rose about 30% to Rs 1,305 crores from Rs.
1,007 crores YoY.
MERGERS &
ACQUISITIONS
Lupin Ltd, a global pharma
company,
on
August
18
announced the acquisition of
the German brands Ondero
and Ondero - Met from
Boehringer Ingelheim Int. The
cash consideration of the
acquisition is €26 million, as
reported by the company in its
regulatory
filing.
This
acquisition strengthens Lupin's
commitment
to
provide
superior treatment options for
patients
navigating
the
complexities of diabetes, as
Lupin said in a statement.
Vedanta's bid to acquire
Meenakshi Energy through an
insolvency resolution process
was
approved
by
the
Hyderabad National Company
Law Tribunal. The company
offered Rs. 1,440 crores against
the claims of Rs. 4,625 crores,
equivalent to 31% recovery to
be distributed among lenders,
creditors
and
employees.
Vedanta's
resolution
plan
stands approved by a majority
of 94.96% of the committee of
creditors, according to an order
uploaded by the court.
Tata group company Titan has
brought over the remaining
27.18% stake in CaratLane for
Rs 4,621 crores from the
brand's
founder
Mithun
Sancheti and its family. After
the acquisition of the shares,
the company will hold about
98.28% stake in CaratLane on
fully
diluted
basis.
The
company is said to be
acquiring 91.90 lakh equity
shares in CaratLane. The
acquisition of the additional
stake is likely to be concluded
by 31 October, 2023.
WEEKLY
FII/DII
A C T I V I T Y
FII (in cr) DII (in cr)
DATE
NET
PURCHASE/SALE
NET
PURCHASE/SALE
14TH AUGUST- 18TH AUGUST
2023
-3379.31
3892.3
18TH AUGUST 2023
-266.98
339.18
17TH AUGUST 2023
-1,510.86
-313.97
16TH AUGUST 2023
722.76
2406.19
15TH AUGUST 2023
MARKET CLOSED
MARKET CLOSED
14TH AUGUST 2023
-2,324.23
1460.90
RECENT LISTINGS
14TH AUG 2023 - 20TH AUG 2023
DATE OF
LISTING
MARKET
TYPE
SYMBOL
COMPANY NAME
SERIES
18-Aug-2023
Equity
CONCORDBIO
Concord Biotech Limited
EQ
18-Aug-2023
SME
SSFL
Srivari Spices And Foods
Limited
ST
17-Aug-2023
SME
SANGANI
Sangani Hospitals Limited
ST
17-Aug-2023
SME
YUDIZ
Yudiz Solutions Limited
ST
16-Aug-2023
Equity
SBFC
SBFC Finance Limited
EQ
14-Aug-2023
SME
PERF-RE
Perfect Infra Limited-RE
ST
14-Aug-2023
Equity
VLEGOV
VL E-Governance & IT
Solutions Limited
EQ
14-Aug-2023
SME
PERF-RE
Perfect Infra Limited-RE
SM
14-Aug-2023
Equity
VLEGOV
VL E-Governance & IT
Solutions Limited
BE
IPO
14TH AUG 2023 - 20TH AUG 2023
OPEN IPO
COMPANY
NAME
TYPE
START
DATE
END
DATE
OFFERED/
RESERVED
BIDS
SUB.
CATEO
RY
Pyramid
Technoplast Ltd.
EQ
18-Aug-23
22-Aug-23
75,60,400
52,93,170
0.70
Sungarner
Energies Limited
SME
21-Aug-23
23-Aug-23
6,40,000
79,56,600
12.43
Crop Life Science
Limited
SME
18-Aug-23
22-Aug-23
51,40,000
42,52,000
0.83
UPCOMING IPO
TYPE
COMPANY
NAME
SYMBOL
START
DATE
END
DATE
PRICE
RANGE
ISSUE
SIZE
EQ
Aeroflex
Industries Ltd,
AEROFLEX
22-Aug-23
24-Aug-23
Rs. 102 to
Rs. 108
3,33,82,352
-
Vishnu Prakash
R Punglia Ltd,
-
24-Aug-23
28-Aug-23
-
-
BLOCK DEALS
It is a transaction of a minimum quantity of 500,000 shares or a minimum value of Rs 5 crore
between two parties, wherein they agree to buy or sell shares at an agreed price among
themselves.
The deal takes place through a separate trading window and they happen at the beginning of
trading hours for duration of 35 minutes i.e. from 9.15 am to 9.50 am.
COMPANY
CLIENT
TRANSACTION
TYPE
QUANTITY
TRADED
16/8/23
IIFL SECURITIES
LIMITED
HAMBLIN WASTA
INVESTMENT COUNSEL
LIMITED A/C HWIC ASIA
FUND CLASS A SHARES
Sell
1,20,00,000
16/8/23
IIFL
SECURITIES
LIMITED
THELEME INDIA MASTER
FUND LIMITED
Buy
80,00,000
16/8/23
IIFL
SECURITIES
LIMITED
ZAFAR AHMADULLAH
Buy
40,00,000
16/8/23
INFOSYS
LIMITED
STITCHING DEPOSITARY
APG EMERGING MARKETS
EQUITY POOL
Buy
11,10,000
16/8/23
INFOSYS
LIMITED
STITCHING DEPOSITARY
APG EMERGING MARKETS
EQUITY POOL
Sell
11,10,000
16/8/23
SYRMA SGS
TECHNOLOGY
LTD
AYUSH AMIT JINDAL
Sell
3,50,470
16/8/23
SYRMA SGS
TECHNOLOGY
LTD
HORIZON IMPEX PRIVATE
LIMITED
Buy
3,50,470
17/8/23
SYRMA SGS
TECHNOLOGY
LTD
AYUSH AMIT JINDAL
Sell
3,50,470
17/8/23
SYRMA SGS
TECHNOLOGY
LTD
HORIZON IMPEX PRIVATE
LIMITED
Buy
3,50,470
DATE
STOCK ORIENTED
NEWS
Doxycycline Hyclate tablets manufactured by Lupin have
received US FDA approval.
The American Food and Drug Administration (US FDA) has
approved the pharmaceutical giant Lupin's abbreviated new
drug application (ANDA) for Doxycycline Hyclate DelayedRelease Tablets, the company stated on August 14.
According to Lupin in an exchange filing, the permission is for
Doxycycline Hyclate Delayed-Release Tablets USP, 50- 200 mg
to be marketed as a generic alternative to Doryx DelayedRelease Tablets, 50 mg- 200 mg and Doryx MPC DelayedRelease Tablets, 60 mg and 120 mg.This product will be
produced at Lupin's Pithampur factory in India, according to a
regulatory filing.Delayed-release tablets of doxycycline hyclate
USP's estimated annual sales in the US are $9 million.On
August 18, Lupin shares closed at Rs 1,067.60 on the NSE.
.
In a stock exchange filing on August 14, Ashok Leyland
stated that its board of directors had authorised the
purchase of OHM Global Mobility Private Limited (OHM
India) shares from OHM International Mobility Limited. Up
to Rs 300 crore would be invested in OHM India.
The board decided to inject one or more tranches into
UHM India to help it satisfy OHM India's business needs.
OHM India operates and manages logistics services as well
as provides e-Mobility as a Service (eMaaS).
The proposed acquisition is a component of Ashok
Leyland's eMaaS business strategy. It is expected that
doing so would increase operational efficiency and synergy.
According to a filing by Ashok Leyland, it would enter into a stock purchase agreement with OHM UK
to buy 10,000 equity shares for Rs 10 each. OHM India will become Ashok Leyland's wholly owned
subsidiary once it has been acquired from OHM UK, the company stated. When it received an order in
the defence industry of Rs 800 crore, Ashok Leyland made headlines. On July 21, Ashok Leyland
announced a 747 percent YoY increase in its standalone net profit for the quarter ended June 2023 to
Rs 576.42 crore, helped by a deferred tax benefit, higher volumes, easing commodity costs, and cost
reductions. On August 18, the stock reached its settlement price at the NSE, which was Rs 186.40.
STOCK ORIENTED
NEWS
As part of an ambition to increase its lithium-ion business this
fiscal year, Amara Raja Batteries intends to enter the two-wheeler
electric vehicle (EV) industry, initially through chargers and
eventually batteries.
About 2.5% of Amara Raja's revenue comes from its lithium-ion
battery business, which currently only has customers in the threewheeler EV market. The remaining 103.85 billion rupees ($1.25
billion) of its total revenue in fiscal 2023 came from its premier
lead acid storage battery manufacturing unit.
As it broadens its so-called "new energy" division, the corporation, which owns the Amaron battery
brand, plans to enter the two-wheeler
. EV market first with chargers and later through battery packs.
"This year, we're looking to grow very aggressively, that is almost going to be three times of last year,"
said Executive Director Vikramadithya Gourineni.
It is also counting on one of India's largest forthcoming lithium cell and battery pack manufacturing
facilities to boost production by the first quarter of the 2019 fiscal year. Its lead-acid battery division
will concentrate on growing in the West, and the business is in discussions for a strategic supply
arrangement with eight "large" wholesalers in North America.
.
According to a source, the manufacturer
of shoes and leather goods and Adidas
are in talks to collaborate on products
for the Indian market. The two shoe
manufacturers, Bata India and Adidas,
are in advanced stages of negotiations
for a strategic alliance.
By adding premium brands to its portfolio, Bata India is diversifying. The company, which was
formerly known for its inexpensive options, has expanded to accommodate a wider audience seeking
superior items. This change demonstrates the brand's evolution from appealing to consumers on a
tight budget to luring those who want higher-end options. Bata India will be able to house more
high-end products after partnering with Adidas.
In the April to June quarter, Bata India's consolidated revenue increased just 1.5% year over year (YoY)
to Rs 958 crore. During the same time period, net profit decreased 10% YoY to Rs 107 crore.
MARKET ANALYSIS
NIFTY 50 & BANK NIFTY
BANK NIFTY
The Bank Nifty is currently closed at a level of 43851.05.
On August 14th, the Bank Nifty closed with a small bullish candle near a support zone.
Bank Nifty Analysis on 1hr Timeframe:
Traders are not advised to trade in a sideways market until a significant trend is present.
Currently, BANKNIFTY is placed at a crucial support level. If it bounces back from here and a
clear trend reversal is seen, i.e., higher highs and higher lows, then a long trade could be
initiated.
Seeing the recent downtrend, traders should not anticipate a bull market until a clear trend
reversal is seen.
All the support zones are now crucial for BANKNIFTY, and BANKNIFTY may at any time bounce
back from these levels.
Immediate Demand zone: 44122-44241
2nd Demand zone: 43811-43855.
3rd support level: 43534-43535
Major demand zone: 43437-43345
Immediate supply zone: 44621.85-44524.55
NIFTY 50
Presently, the Nifty is closed at a level of 19310.15.
This week NIFTY was sideways, ending the week with a doji (indecisive candle) at the crucial
support level.
Trade should note that NIFTY is placed at a very crucial support level and is causing indecision
between bears and bulls.
If NiFTY falls below this level, then one can expect a freefall.
There is a high chance of NIFTY bouncing back from this level.
Nifty 50 Analysis: on 1hr Timeframe:
On a 1-hour timeframe It can be clearly seen that NIFTY is placed in a very crucial support zone.
Seeing the current market sentiments and FPI outflows, it is very unlikely that NIFTY would
bounce back from this level, but if it does, traders are advised not to take a long trade until a clear
trend reversal is seen, i.e., higher highs and higher lows.
If Nifty breaks this demand zone on Monday, then a free call can be expected. However, this is a
very crucial support zone, and there is a high chance of NIFTY bouncing back from here.
Note: Traders should not initiate or anticipate any trend reversal until and unless there are clear
signs of trend reversal, i.e., higher highs and higher lows, lower highs or lower lows, or the
conversion of a support zone into resistance, and vice versa.
Immediate Demand zone: 19406.40-19436
Major demand zone: 19310-19294
Immediate Supply zone: 19495-19538
Second resistance level: 19598
QUOTES
RELATED TO
STOCK MARKETS
"Markets are a lot like casino games,
except you can't order a cocktail
while you're losing money."
"Investing in stocks is like a diet –
the first day doesn't do anything."
"Trying to predict the stock market
is like trying to predict the weather
in a snow globe."
"The stock market is a device for
transferring
money
from
the
impatient to the patient."
"Remember, the stock market is a
device for transferring money from
the future you to the present you."
"Stocks have a funny way of doing
what you least expect. The moment
you start believing you understand
them, they pull a 'plot twist' on you."
"Stocks are like a roller coaster. The
only difference is that the ride
operator is your emotions."
"Investing in stocks is a bit like
marriage – full of ups and downs, and
sometimes you wonder what you got
yourself into."
"Stock market advice: Buy high, sell
low, and panic often – just kidding,
please don't."
"Remember, even Warren Buffett had
to start by investing in his first share
of candy."
"Stock prices may go up and down,
but the stress remains constant."
"Buying a stock at its lowest price is
as rare as finding a unicorn riding a
leprechaun."
w 🅴🅴🅺🅻🆈
B 🅰🆉🅰🅰🆁
VITTSHALA
THE FINANCIAL LITERACY CELL
Shri Ram College of Commerce
University of Delhi North Campus, Maurice
Nagar Delhi - 110007, INDIA