The domestic equity indices ended with small losses on Wednesday. The Nifty settled near the 25,200 level. Healthcare, pharma and realty shares advanced while PSU bank, IT and metal stocks declined. As per provisional closing, the S&P BSE Sensex, slipped 202.80 points or 0.25% to 82,352.64. The Nifty 50 index declined 81.15 points or 0.32% to 25,198.70. In the broader market, the S&P BSE Mid-Cap index fell 0.12% and the S&P BSE Small-Cap index rose 0.32%. The market breadth was negative. On the BSE, 1,932 shares rose and 2,019 shares fell. A total of 96 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 3.86% to 14.38. Economy : Indian service providers signaled that the strong start to the second fiscal quarter continued into August, with business activity expanding to the greatest extent since March as growth of incoming new business ticked higher. Moreover, payroll numbers rose solidly as companies remained upbeat regarding the economic outlook. Another positive development included a slowdown in output charge inflation, which was helped by cost pressures retreating to their lowest in four years. At 60.9 in August, the seasonally adjusted HSBC India Services Business Activity Index was inside expansion territory for the thirty-seventh straight month. Moreover, rising from 60.3 in July, the headline figure indicated the strongest rate of expansion since March and one that was well above its long-run average. According to panel members, growth was underpinned by productivity gains and positive demand trends. The current run of new order growth was also stretched to 37 months in August. The rate of increase quickened marginally from July and was the strongest since April, as more than one-quarter of panelists reported an improvement and only 5% indicated deterioration. August data showed another substantial increase in Indian private sector output. At 60.7, the HSBC India Composite Output Index matched July's reading and therefore remained comfortably above its long-run average of 54.6. Service providers signaled the strongest increase in business activity since March, while goods producers posted the weakest rise in production for seven months. A similar trend was seen for new orders, with the service sector posting a quicker increase as manufacturing saw a slowdown. At the composite level, sales rose substantially during August, though at the weakest pace since May. Trends for input prices were consistent at manufacturing companies and their services counterparts, as both saw cost pressures receded in August. The aggregate rate of inflation retreated to a six-month low. August survey data showed that prices charged for Indian goods and services rose to a lesser extent than in July. Manufacturers continued to note the quicker increase. New Listing: Shares of ECOS (India) Mobility & Hospitality closed at Rs 441.05 on the BSE, representing a premium of 32.05% as compared with the issue price of Rs 334. The scrip was listed at Rs 391.30, exhibiting a premium of 17.15% to the issue price. The stock has hit a high of 456 and a low of 380.10. On the BSE, over 22.82 lakh shares of the company were traded in the counter. IPO Update: The initial public offer (IPO) of Gala Precision Engineering received 41,07,46,252 bids for shares as against 22,23,830 shares on offer, according to stock exchange data at 15:15 IST on Wednesday (4 September 2024). The issue was subscribed 184.70 times. The issue opened for bidding on Monday (2 September 2024) and it will close on Wednesday (4 September 2024). The price band of the IPO is fixed between Rs 503 to Rs 529 per share. An investor can bid for a minimum of 28 equity shares and in multiples thereof. Buzzing Index: The Nifty PSU bank fell 1.69% to 6,878.90. The index declined 1.79% in the two consecutive trading sessions. Bank of Baroda (down 2.91%), Indian Bank (down 2.65%), Canara Bank (down 2.41%), Punjab & Sind Bank (down 2.32%), Punjab National Bank (down 2.24%), UCO Bank (down 1.32%), Indian Overseas Bank (down 1.29%), Central Bank of India (down 1.14%), State Bank of India (down 1%) and Bank of India (down 0.8%) slipped. Stocks in Spotlight: Adani Enterprises shed 0.74%. The company announced that its step-down subsidiary, Adani Global Pte (AGPTE), Singapore has incorporated a wholly owned subsidiary named, Adani Energy Resources (Shanghai) Co. (AERCL), domiciled in Shanghai, China on 2 September 2024. Natco Pharma added 1.79%. The pharma major said that its wholly owned Canadian subsidiary, Natco Pharma (Canada) made an investment of $8 million in biotechnology company, eGenesis for developing safe and effective human-compatible organs for transplant. Shilpa Medicare (SML) climbed 6.22% to Rs 811.25 after the company announced that it has submitted new drug application (NDA) to U.S. Food and Drug Administration (USFDA) for Oxylanthanum Carbonate. Rites shed 0.53%. The civil construction company announced that it has signed a memorandum of understanding (MoU) with NBCC (India) for consultancy work. The company inked pact with NBCC to explore and undertake a comprehensive range of consultancy, fee-based projects, and EPC contracts from concept to commissioning. Rama Steel Tubes soared 11.57% after the company announced a strategic collaboration with Onix Renewable for provide steel structures for latter's solar projects. Indian Energy Exchange (IEX) rose 0.51%. The company informed that it has achieved electricity volume (including certificates) of 12,040 million units (MU) in August 2024, registering a growth of 35.8 % YoY basis. G R Infraprojects rose 0.31%. The company announced that it has entered into share purchase agreement with REC Power Development and Consultancy (RECPDCL) for acquisition of Tumkur-II REZ Power Transmission (TRPTL). MOIL rose 0.55%. The company achieved its best ever August production of 1.24 lakh tonnes of manganese ore in August, 2024. Havells India shed 0.19%. The company said that it has started commercial production of cable at the company's new facility at Vasanthnarasapura Industrial Area, Tumakuru in the state of Karnataka. Cupid added 0.81%. The company is embarking a dynamic B2C expansion strategy with a topline target in excess of Rs 50 crore in this financial year. Global Markets: The European market declined while most Asian stocks ended lower on Wednesday, following a sharp tech selloff on Wall Street, coupled with resurgent concerns about U.S. growth, drove investors away from riskier assets. Recent data from China revealed that its economy is still struggling to gain traction, leading to renewed calls for more stimulus from Beijing. The sluggish Chinese outlook, the world's largest oil importer, further exacerbated the decline in oil prices due to expectations of weakening demand. September has historically been a challenging month for stocks, but analysts attributed the current rout to a confluence of factors, including tepid U.S. manufacturing data. U.S. stocks closed sharply lower overnight after the holiday, with AI leader NVIDIA tumbling nearly 10% as investors tempered their enthusiasm about artificial intelligence. The return from the Labor Day holiday saw a widespread air of portfolio de-risking across capital markets. Growth concerns were the dominant theme, leading to a sell-off in cyclical-sensitive assets and aggressive hedging. The Dow Jones Industrial Average fell 1.51%, the S&P 500 slid 2.12% and the Nasdaq Composite dropped 3.26%. All three indexes notched their worst days since the global sell-off on Aug. 5. US manufacturing contracted at a moderate pace in August. The Institute for Supply Management (ISM) said its manufacturing PMI rose to 47.2 last month from 46.8 in July, which was the lowest reading since November. The PMI remained below the 50 threshold for the fifth straight month. Powered by Capital Market - Live

Adani Enterprises announced that Adani Global, Singapore, a step-down subsidiary of the Company (AGPTE) has incorporated a wholly owned subsidiary namely Adani Energy Resources (Shanghai) Co.(AERCL), domiciled in Shanghai, China on 02 September 2024. AERCL is incorporated to carry out business of providing supply chain solutions and project management services. Powered by Capital Market - Live

Adani Enterprises Ltd fell for a fifth straight session today. The stock is quoting at Rs 3037.6, down 0.96% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.34% on the day, quoting at 25102.65. The Sensex is at 81973.4, up 0.32%.Adani Enterprises Ltd has eased around 1.68% in last one month.Meanwhile, Nifty Metal index of which Adani Enterprises Ltd is a constituent, has eased around 0.1% in last one month and is currently quoting at 9432.75, up 0.09% on the day. The volume in the stock stood at 9.99 lakh shares today, compared to the daily average of 22.26 lakh shares in last one month. The benchmark August futures contract for the stock is quoting at Rs 3043.3, down 0.71% on the day. Adani Enterprises Ltd jumped 21.19% in last one year as compared to a 29.78% rally in NIFTY and a 42.69% spurt in the Nifty Metal index.The PE of the stock is 122.24 based on TTM earnings ending June 24.Powered by Capital Market - Live

Adani Enterprises has approved the public issue of up to 80,00,000 secured, rated, listed, redeemable, non-convertible debentures of face value Rs 1,000 each, amounting to Rs 400 crore with an option to retain over-subscription up to Rs 400 crore aggregating up to Rs 800 crore. The issue opens on 04 September 2024 and closed on 17 September 2024. Powered by Capital Market - Live

The key equity indices traded with major gains in early trade. The Nifty traded above the 24,350 mark. Barring the Auto shares all sectoral indices traded in green on the NSE. At 09:30 IST, the barometer index, the S&P BSE Sensex, jumped 120.52 points or 0.15% to 80,567.13. The Nifty 50 index added 59.35 points or 0.24% to 24,600.50. In the broader market, the S&P BSE Mid-Cap index added 0.54% and the S&P BSE Small-Cap index gained 1.21%. The market breadth was strong. On the BSE, 2,403 shares rose and 710 shares fell. A total of 133 shares were unchanged. Foreign portfolio investors (FPIs) bought shares worth Rs 766.52 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,606.18 crore in the Indian equity market on 16 August 2024, provisional data showed. Economy: India's forex reserves declined $4.8 billion to $670.119 billion for the week ended August 9, according to the latest RBI data. In the previous reporting week, the country's foreign exchange reserves had increased $7.533 billion to an all-time high of $674.919 billion. For the week ended August 9, foreign currency assets, a major component of the reserves, decreased by $4.079 billion to $587.96 billion. Gold reserves declined by $860 million to $59.239 billion during the week. The special drawing rights (SDRs) were up by $121 million to $18.282 billion. India's reserve position with the IMF increased by $18 million to $4.638 billion in the reporting week, the central bank data showed. Stocks in Spotlight: Adani Enterprises rose 0.27%. The company's board has approved issuance of non-convertible debentures (NCDs) of face value of Rs 1,000 each upto Rs 400 crore with an option to retain over-subscription upto Rs 400 crore, aggregating upto Rs 800 crore. DCX Systems rallied 4.33% after the company received Rs 107 crore orders from domestic and overseas customers for supply of electronic kits and cable & wires harness assemblies. Samvardhana Motherson International rose 0.12%. The company incorporated a new unit in Abu Dhabi for auto component manufacturing. Numbers to Track: The yield on India's 10-year benchmark federal paper jumped 1.66% to 6.981 as compared with previous close 6.867. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.8750, compared with its close of 83.9500 during the previous trading session. MCX Gold futures for 4 October 2024 settlement advanced 0.26% to Rs 71,563. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies shed 0.12% to 102.34. The United States 10-year bond yield shed 0.10% to 3.888. In the commodities market, Brent crude for October 2024 settlement lost 13 cents or 0.16% to $79.55 a barrel. Global Markets: Asian stocks traded mixed on Monday as investors weighed optimism about a US economic soft landing against concerns over the global growth outlook. Expectations of cooling inflation and a potential easing cycle by the Federal Reserve buoyed sentiment. However, investors remained cautious ahead of key US economic data this week and Federal Reserve Chair Jerome Powell's speech on Friday. In Asia, market participants will closely monitor central bank meetings in Indonesia and South Korea for potential rate adjustments. Thailand's policy decision is particularly awaited given uncertainties surrounding the new government's economic plans. US stocks rebounded from earlier losses to close higher on Friday, as a report showing improved consumer sentiment boosted investor confidence. The Dow Jones Industrial Average rose 0.24%, the S&P 500 climbed 0.20% and the Nasdaq Composite gained 0.21%. The University of Michigan's gauge of consumer sentiment rose to 67.8 in a preliminary August reading, up from 66.4 in the prior month. It is the first gain after four months of declines.Powered by Capital Market - Live

Securities in F&O ban: Aarti Industries, Aditya Birla Fashion & Retail (ABFRL), Bandhan Bank, Biocon, Chambal Fertilizers, Granules India, India Cements, IndiaMart Intermesh, LIC Housing Finance, Manappuram Finance, NMDC, Piramal Enterprises, PNB, RBL Bank, Sail, and Sun TV. Stocks to watch: Adani Enterprises' board has approved issuance of non-convertible debentures (NCDs) of face value of Rs 1,000 each upto Rs 400 crore with an option to retain over-subscription upto Rs 400 crore, aggregating upto Rs 800 crore. Jubilant Pharmova's unit, Jubilant Biosys will add discovery and preclinical development capabilities. Capabilities to be added via new company incorporated in France, which will acquire Pierre Fabre's R&D centre in the country. The company will invest upto 14.4 million pounds over seven years, including 4.4 million pounds for an 80% stake in new company. Techno Electric & Engineering Company partnered with Indi Grip to develop greenfield transmission projects. Bata India's Anil Ramesh Somani resigned as chief financial officer (CFO) with effect from Wednesday, 4 September 2024. Tamilnad Mercantile Bank said that RBI approved the appointment of Salee Sukumaran Nair as MD and CEO for 3 years. DCX Systems received Rs 107 crore orders from domestic and overseas customers for supply of electronic kits and cable & wires harness assemblies. Samvardhana Motherson International incorporated a new unit in Abu Dhabi for auto component manufacturing. JNK India has received a 'major' order from Hindustan Petroleum Corporation (HPCL). As per JNK India's classification, the value of the said contract lies between Rs 150 crore and Rs 350 crore. The contract is for setting up a new process plant - HP TDAE (Treated Distillate Aromatic Extracts) unit on LSTK (Lump sum Turnkey) contract basis at HPCL Mumbai Refinery. Caplin Point Laboratories said that Brazilian Health Regulatory Agency's (ANVISA) inspection was conducted at its Chennai facility between 12 and 16 August 2024 and concluded with zero observations.Powered by Capital Market - Live

Earlier, on 4 August 2022, the company's board approved at its meeting held on to the management committee, to undertake a public issuance of non-convertible debentures of face value of Rs 1,000 up to maximum limit of Rs 1000 crore. The management committee of Adani Enterprises on 16 August 2024 approved and adopted the draft prospectus for public issuance of NCDs, aggregating up to Rs 800 crore of the company in connection with the issue. Adani Enterprises (AEL) is the flagship company of Adani Group, one of India's largest business conglomerates. The company's business investments are centred on the fields of airport management, technology parks, roads, data centre and water infrastructure. The company's consolidated net profit zoomed 115.82% to Rs 1454.50 crore in Q1 FY25 as against Rs 673.93 crore reported in Q1 FY24. Revenue from operations grew by 12.49% YoY to Rs 25,472.40 crore in June 2024 quarter. The scrip rose 2.26% to close at Rs 3,108.05 on Friday, 16 August 2024. Powered by Capital Market - Live

The Adani Group has issued a statement titled 'Hindenburg Report - A Red Herring' which is detailed under: The latest allegations by Hindenburg are malicious, mischievous and manipulative selections of publicly available information to arrive at pre-determined conclusions for personal profiteering with wanton disregard for facts and the law. We completely reject these allegations against the Adani Group which are a recycling of discredited claims that have been thoroughly investigated, proven to be baseless and already dismissed by the Hon'ble Supreme Court in March 2023. It is reiterated that our overseas holding structure is fully transparent, with all relevant details disclosed regularly in numerous public documents. Furthermore, Anil Ahuja was a nominee director of 3i investment fund in Adani Power (2007- 2008) and, later, a director of Adani Enterprises until 2017. The Adani Group has absolutely no commercial relationship with the individuals or matters mentioned in this calculated deliberate effort to malign our standing. We remain steadfastly committed to transparency and compliance with all legal and regulatory requirements. For a discredited short-seller under the scanner for several violations of Indian securities laws, Hindenburg's allegations are no more than red herrings thrown by a desperate entity with total contempt for Indian laws.Powered by Capital Market - Live

Adani Enterprises Ltd is up for a third straight session in a row. The stock is quoting at Rs 3224.25, up 1.2% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.12% on the day, quoting at 24269.55. The Sensex is at 79387.27, down 0.1%. Adani Enterprises Ltd has risen around 3.65% in last one month. Meanwhile, Nifty Metal index of which Adani Enterprises Ltd is a constituent, has risen around 8.26% in last one month and is currently quoting at 9128.45, down 0.69% on the day. The volume in the stock stood at 13.33 lakh shares today, compared to the daily average of 16.01 lakh shares in last one month. The benchmark August futures contract for the stock is quoting at Rs 3237.65, up 1% on the day. Adani Enterprises Ltd is up 28.6% in last one year as compared to a 23.62% spurt in NIFTY and a 35.76% spurt in the Nifty Metal index.The PE of the stock is 126.95 based on TTM earnings ending June 24.Powered by Capital Market - Live