Stock Market Live: GIFT Nifty Trades Near 25,350; HDFC Bank, Maruti, Tata Motors, HAL, Vedanta In Focus

Table of Contents

Bajaj Housing Finance IPO Update

Sets price band at Rs 66-70 per share.
The wholly-owned subsidiary of Bajaj Finance Ltd. aims to raise Rs 6,560 crore through the IPO that will open on Sept. 9.

Tolins Tyres IPO Update

Sets IPO price band at Rs 215-226/share

Bid for issue to open on September 9 & close on September 11

Source: Company statement

Brigade Enterprises Approves QIP Floor Price

Approves floor price of QIP at Rs 1,164.7/share

Source: Exchange Filing

Brainbees Arm Invests In Frootle India & Wellspire India

Arm Globalbees Brands further invests Rs 105 crore in Frootle India & Rs 1.05 crore in Wellspire India
Frootle India & Wellspire India are step-down subsidiaries of company

Source: Exchange Filing

Global Cues

U.S. Dollar Index at 101.71
U.S. 10-year bond yield at 3.91%
Brent crude 0.50% lower at $77.13 per barrel
Nymex crude 0.37% higher at $73.82 per barrel
GIFT Nifty flat at 25,361.00 as of 07:26 a.m.
Bitcoin was uo 0.60% at $59,355.26

F&O Cues

Nifty September futures down by 0.15% to 25,340.45 at a premium of 61.75 points.
Nifty September futures open interest up by 7.23%.
Nifty Bank September futures down by 0.05% to 51,650.7 at a premium of 211.15 points.
Nifty Bank September futures open interest up by 0.06%.
Nifty Options Sept. 5 Expiry: Maximum call open interest at 26,000 and maximum put open interest at 25,000.
Bank Nifty Options Sept. 4 Expiry: Maximum call open interest at 59,000 and maximum put open interest at 51,000.
Securities in ban period: Balrampur Chini Mills, Hindustan Copper.

Pledge Share Details

HLV: Promoter Universal Hotels & Resorts Private Limited created a pledge for 3 crore shares on Aug. 29.
Navin Fluorine International: Promoter Mafatlal Impex Private Limited revoked a pledge for 3 lakh shares on Aug. 22.

Trading Tweaks

Ex/record dividend: Vinati Organics, Karnataka Bank, Ion Exchange (India), Deepak Fertilisers & Petrochemicals Corporation, Fineotex Chemical, Ganesha Ecosphere.
Ex/record buyback: Nucleus Software Exports.
Ex/record AGM: Alok Industries, Borosil Scientific, DB Corp., Jai Corp., JK Paper, Manorama, Sanghvi Movers, Schneider.

IPO Offering

Baazar Style Retail: The public issue was subscribed 4.64 times on day two. The bids were led by non-institutional investors (11.62 times), retail investors (3.75 times), and institutional investors (0.84 times).
Gala Precision Engineering: The public issue was subscribed 10.84 times on day one. The bids were led by non-institutional investors (20.72 times), retail investors (12.17 times), and institutional investors (0.86 times).

Block Deals

HDFC Bank: Copthall Mauritius Investment Limited sold 10.2 lakh shares (0.01%) at Rs 1,636.9 apiece.
Trent: Siddhartha Yog bought 10.09 lakh shares (0.28%) at Rs 7,115 apiece and Dodona Holdings Limited sold 10.09 lakh shares (0.28%) at Rs 7,115 apiece.

Bulk Deals

Shanti Educational Initiatives: Albula Investment Fund Ltd bought 47.2 lakh shares (2.93%) at Rs 122.85 apiece and LTS Investment Fund Ltd sold 47.2 lakh shares (2.93%) at Rs 122.85 apiece.
Globus Spirits: Elpro International Limited bought 1.79 lakh shares (0.62%) at Rs 1,112.88 apiece.
GMR Power and Urban Infrastructure: Authum Investment & Infrastructure Limited bought 74.91 lakh shares (1.24%) at Rs 134.16 apiece.
TCNS Clothing: Baroda BNP Paribas Mutual Fund bought 6.24 lakh shares (0.98%) at Rs 576.14 apiece, while Morgan Stanley Asia Singapore Pte sold 3.37 lakh shares (0.53%) at Rs 574.64 apiece.

HDFC Bank Shareholder Divests Stake For Rs 166.96 Crore

Stocks to Watch

Hindustan Aeronautics: The Cabinet Committee on Security approved a proposal for procurement of 240 aero-engines (AL-31FP) for the Indian Air Force’s Su-30 MKI aircraft from Hindustan Aeronautics Ltd. at a cost of over Rs 26,000 crore under the Buy (Indian) category.
Vedanta: The company approved a third interim dividend of Rs 20 per share, totalling a payout of Rs 7,821 crore.
Kaynes Technology: Cabinet-approved proposal for a new manufacturing plant with a capacity of 6.3 million chips per day. The total cost of the project is Rs 3,300 crore.
NMDC: The company received a penalty order of Rs 1,620 crore for alleged transport of iron ore without a Railway Transit Pass. The company also reported a 10% decrease in total production to 3.07 MT and an 11.3% drop in total sales to 3.14 MT in August 2024.
Welspun Corp: The board approved a $100 million investment by its subsidiary, Welspun Pipes, for upgrading HFIW pipe manufacturing capabilities in the USA.
Maruti Suzuki: The company reported a 2% increase in total production in August, reaching 1.69 lakh units year over year.
Hindustan Composites: The company will purchase 150,000 Swiggy shares for Rs 5 crore.
Lemon Tree Hotels: The company signed a licensing agreement for an 80-room hotel in Gir.
Tata Motors: The automaker received a penalty order of Rs 2 crore from the Assistant Commissioner, Jamshedpur, Jharkhand. The penalty is not expected to have a material financial impact.
Adani Green Energy: The company approved the execution of binding documents, including a joint venture agreement with ARE64L and TotalEnergies Renewables. TotalEnergies will invest an additional $444 million to form a 50:50 JV with Adani Green. The new JV will manage a 1,150 MWac portfolio, including both operational and under-construction solar assets.
HDFC Bank: The bank was fined with a penalty of Rs 5 lakh by Assistant Commissioner of CGST & Central Excise, Madhya Pradesh and a penalty of Rs. 7 lakh has been imposed on the bank by State Tax Officer, Gujarat.
JSW Steel: The company has received a GST intimation for the period of April 2019-March 2020. The tax demand was at Rs 11.42 crore, with an interest of Rs 18.45 crore and a penalty of Rs 1.79 crore.
Pidilite Industries: The company received a penalty order of Rs 44.31 crore from the Joint Commissioner, Corporate Circle, Greater Noida, Uttar Pradesh. The company expects a favourable outcome on appeal with no material financial impact.
Dabur India: The company received a demand order for ₹95.97 lakh.
Crompton Greaves Consumer Electricals: Crompton transforms Bengaluru’s Satellite Town Ring Road by providing lighting solutions with its high-performance LED street lights.
Gensol Engineering: The company with Matrix Gas & Renewables became the lowest bidder for a green hydrogen project worth Rs 164 crore.
Sterlite Technologies: The company has settled its Singapore dispute with Data Management Centre for $467,400.
Techno Electric & Engineering Company: The company set Sept. 13 as the record date for a final dividend of Rs 7 per share.
Shriram Finance: The board approved a fund raise through debt securities via private placement. The issue size is Rs 500 crore, with a greenshoe option of Rs 1,500 crore.
Elpro International: The company acquired equity shares in Central Depository Services (India) Limited.
Matrimony.com: The company will consider a buyback proposal on Sept. 5.
IEX: The company’s arm enters into an issuer agreement with the International Tracking Standard Foundation. The agreement authorises ICX to act as a local issuer of international renewable energy certificates in the Indian market.
Shipping Corporation of India: The company’s arm gets government approval for establishment of unit at GIFT SEZ in Gujarat.
GR Infraprojects: The company will sell Aligarh Kanpur Highway to Bharat Highways InvIT and acquire Tumkur-II REZ Power Transmission from REC’s unit for its Karnataka project.
ICICI Bank: The bank clarified on media reports of alleged payment of salary by ICICI Group to Madhabi Puri Buch. The bank said that no salary or ESPOs were given to Madhabi Puri Buch after her retirement, other than retiral benefits.

Vedanta Approves Third Interim Dividend Worth Rs 7,821 Crore For FY25

GIFT Nifty Trades Near 25,350

The GIFT Nifty was trading 0.04%, or 9 points higher at 25,366.00 as of 06:32 a.m.

Most markets in Asia were trading higher on Tuesday after South Korea's inflation reading for August declined to over three-year low, which raised expectation of monetary easing in the country. The consumer price index declined to 2% on an annualised basis, from July's 2.6%.

The Kospi was trading 12.71 points, or 0.47% higher at 2,693.71. The Nikkei 225 was trading 151.10 points, or 0.39% higher at 38,851.97 as of 06:19 a.m.

Meanwhile, the S&P ASX 200 was trading 23.10 points, or 0.28% down at 8,086.80 as of 06:21 a.m.

US markets were closed on Monday on account of Labour Day.

The November contract of brent crude was trading 0.41% down at $77.20 per barrel as of 06:22 a.m. The spot gold was trading 0.17% lower at 2,495.19

The benchmark stock indices recorded their best closing on Monday, with the NSE Nifty 50 extending gains for the 13th consecutive session—its longest run in decades—and the S&P BSE Sensex rising for the 10th consecutive session.

Nifty closed 42.80 points, or 0.17% higher at 25,278.70, and Sensex closed 194.07 points, or 0.24% up at 82,559.84.

Overseas investors remained net buyers of Indian equities for the third consecutive session on Monday. Foreign portfolio investors mopped up stocks worth Rs 1,735.5 crore while domestic institutional investors turned net buyers after one day of selling and offloaded equities worth Rs 356.4 crore, according to provisional data from the National Stock Exchange.

The Indian currency weakened by 5 paise to close at 83.92 against the US dollar.

Trade Setup For Sept 3: Nifty’s Winning Streak At Risk Due To Market Fatigue, Volatility. Read more on Markets by NDTV Profit.