Indian Equities Pre Open Update

Indian equities expected to open with flat note, however sector specific volatility likely to be seen for the day.

Global Peers Update: Asian stocks remained mixed, however the Hang Seng fell sharply amid the selloff from technology stocks. The MSCI global index of stocks lost ground in a volatile session on Monday while the dollar gained slightly as investors braced for high inflation data and the start of corporate earnings season.

Sectors to Watch: Selective Technology, Pharma and Construction stocks likely to remain on focus while Metals, Auto and Energy stocks likely to remain resistive during the day.

SGX NIFTY Price 17181.0 Change: -44.0 Points, Percent Change: -0.26%

News Headlines from Business News Agencies:

Business Standard

• India's e-retail market to increase to $150 bn-$170 bn by 2027: Report
• Ministry of Corporate Affairs improves the ease of running a company
• FMCG companies may see price hike-led revenue growth In July-September
• NPCI's plan to acquire a stake in ONDC faces RBI hurdle, says report
• TCS says moonlighting 'ethical issue'; no action taken against any staff
• Pricing hurdle may hit Hero MotoCorp's entry into EV segment: Brokerages
• Ratings devoid of lenders detail should be treated as unrated exposure: RBI
• RBI cancels the licence of Pune-based Seva Vikas Co-operative Bank
• Indian insurance industry can be sixth largest globally: Irdai chairman
• JPMorgan CEO Jamie Dimon warns of global recession in 6-9 months
• AMCs to freeze non-PAN card MF portfolios from April 2023, says AMFI

Economic Times

• Chip woes derail JLR's Sept quarter volumes guidance
• Indian economy’s slow-but-steady activity awaits a boost from blockbuster Diwali sales
• Vikram Kirloskar gives a peek into Toyota's India blueprint and investment plans
• Tata Consultancy Services sees softness in long-term deals after second-quarter beat
• Nasdaq registers lowest close since July 2020; chips stocks fall
• Innovation in products key to ensuring cover for all Indians: IRDAI
• Sebi tweaks process for private placement of debt
• September weakness on Street turns MF SIPs into gulps
• Indian ecommerce user base to beat US numbers in two years: Bain report
• Bernanke shares economics Nobel for crisis research
• September deluge stalls kharif harvesting, damages crops


• TCS Profit Tops Estimates After Outsourcer Wins New Deals (1)
• Sense of caution prevails in talks with clients, CEO says
• Adani Seeks to Buy Jaiprakash Cement Ops for $606 Million (2)
• Jaiprakash aims to divest cement business to pare debt
• Prognosis: Gambia Deaths Bring Scrutiny to India’s Drugmakers
• Indian Stock Funds See 19th Month of Inflows in September: AMFI
• SEBI: Ananth Gopalakrishnan takes charge as Whole-Time Member
• RBI Cancels License of Seva Vikas Co-Operative Bank, Pune
• Indian Company Private Bond Sales Fall 25% W/w to INR82.4 Billion
• Emerging Market ETFs Rebound From Losses, Rise $286.5 Mln
• Global Funds Sell Net INR21.4B of India Stocks on Monday: NSE
• Domestic funds buy net 21.4 billion rupees of stocks
• UAE expects trade with India to cross $100bln in 2-3 years: PTI
• Trade pact between India, Indonesia to boost economic ties: PTI
• India top court to hear Piramal Dewan Housing insolvency and Amazon antitrust case
• NCLAT to hear on progress of Jalan- Kalrock’s rescue plan for Jet Airways

Stocks in News

Panacea Biotech: Receives long-term supply awards worth Rs1,040 crore from UNICEF (Positive)

Tata Motors: Tata Motors Group global wholesales in Q2FY23 were at 3,35,976 nos., higher by 33% (Positive)

Infosys: Board to consider a proposal for buyback of equity shares on Oct 13 (Positive)

IRB Infra: September toll collections increase by 37% on YoY basis, to Rs 328.2 cr. (Positive)

Inox Winds: Inox Green Energy Services sells entire investment in three subsidiaries to Adani Green (Positive)

India Cements: Company to divest its entire stake in Springway Mining to JSW Cement for Rs 476.87 crore (Positive)

Ashiana Housing: 224 units booked in phase 1 of Ashiana Amarah’ Project for Rs 242.6 crore. (Positive)

Suzlon: Aims to raise Rs 1200 Crores via issue of additional 240 Crore Shares at Rs 5. (Positive)

Vedanta: Meeting of Equity Shareholders as per the directions of the NCLT today to vote on ‘creating shareholders’ value’ by distributing General Reserve (Positive)

PG Electroplast: AVESTHA FUND bought 142,000 shares at 1046.79 (Positive)

Gujarat Alkalies: PM Modi dedicates Gujarat Alkalies new plants to nation. (Positive)

Carborundum: Demand scenario remains strong across sectors such as Auto, manufacturing, infrastructure (Positive)

TCS: Rupee Revenues at Rs 55310 crore versus poll of Rs 54905 crore, Net Profit at Rs 10431 crore versus poll of Rs 10248 crore. (Neutral)

AU Small Finance Bank: Reappoints Raj Vikash Verma as the Part-time Chairman of the Bank (Neutral)

Adani Ports: Ahmedabad Bench has sanctioned the composite scheme of arrangement between Gangavaram Port and Adani Ports (Neutral)

HUL: Company says there has been a price drop For Lifebuoy in the Western region (Neutral)

Bank of Baroda: Banks hikes lending rates 10-15 bps across tenures (Neutral)

NDTV: Adani’s NDTV Open Offer Banker Replies on Clarifications to SEBI (Neutral)

MTAR Tech: Promoter pledge additional 7 Lakh Shares (Neutral)

Bulk Deal & Insider Trade Update

Bulk Deals

Stml : Maven India Fund Buy 81600 Shares @ Rs. 169.05

Tll : Nav Capital Vcc - Nav Capital Emerging Star Fund Buy 144000 Shares @ Rs. 105

Cyber Media Res & Ser Ltd : 3 Sigma Global Fund Sell 16000 Shares @ Rs. 245.25

Pg Electroplast Ltd : Avestha Fund Management Llp Buy 142000 Shares @ Rs. 1046.79

Insider Trade


IHP FINVEST LIMITED Promoter Group Pledge 346310 shares of Indian Hume Pipe Co.Ltd. on 07-Oct-22

Max Ventures Investment Holdings Private Limited Promoter Pledge 163000 shares of Max Financial Services Ltd on 06-Oct-22


Pradeep Kumar Jain Promoter & Director Invoke 2500000 shares of Parsvnath Developers Ltd. on 30-Aug-22

Dividend Update


Result Today

GM Breweries Ltd.

Stock in Action

CEAT: A significant correction in RM prices will help CEAT to bring its margins back to 12-14% from the current level of 7-8%. CEAT generates around 45% of its revenue from the CV segment, which has been doing exceptionally well. This is evident from the monthly wholesale numbers of the OEMs. With the opening up of the broader economy and the increase in the pace of economic activities, demand for trucks has risen significantly. The 2W, 3W, and the PV segments contribute around 40% to the revenues. The demand outlook for these segments is supported by a broader recovery in economic activities. Moreover, CEAT has identified the 2W, passenger car, and the OTR tyre segments as strategic focus areas, where it can improve margins and reduce the dependence on the truck segment. Positive on CEAT as the prices of key raw materials are softening, holding out the hope that the company will be able to significantly improve margins.

NTPC: As per Central Electricity Authority (CEA), the thermal electricity production during 1HFY23 up by 14%. The healthy rise in electricity generation pushed up NTPC’s thermal power utilisation levels to 77.8%, levels last seen in 2017 (H1 FY18). Capacity base as monitored by the CEA increased by about 21% or 9,355 megawatts (MW) from H1 FY18 to September 2022. Good demand has boosted NTPC’s revenue in June 2022 quarter (Q1 FY23) also. But the company’s adjusted net earnings grew by an unexciting 6 percent due to high maintenance costs and rise in fuel expenses. NTPC enjoys the benefit of a regulated business, where the company is allowed a fixed return on its equity investment. This provides NTPC a good hedge against a drastic slowdown or reduction in electricity consumption in India. Positive on NTPC as the thermal power plant utilisation levels increased to 77.8% in the first half of FY22, levels last seen in the first half of FY18.

Fund Houses Recommendations

Macquarie on TCS: Maintain Outperform on Company, target price at Rs 4150/Sh (Positive)

Bernstein on TCS: Maintain Outperform on Company, target price at Rs 3850/Sh (Positive)

CLSA on TCS: Maintain Outperform on Company, target price at Rs 3450/Sh (Positive)

CLSA on Kotak Bank: Maintain Outperform on Bank, target price at Rs 2100/Sh (Positive)

MS on Delhivery: Expect strong improvement in gross margin to 21% Vs 16.8% in Q1 (Positive)

Nomura on TCS: Maintain Reduce on Company, target price at Rs 2620/Sh (Neutral)

CS on TCS: Maintain Neutral on Company, target price at Rs 3300/Sh (Neutral)

Citi on TCS: Maintain Sell on Company, target price at Rs 2900/Sh (Neutral)

Jefferies on TCS: Maintain Hold on Company, target price at Rs 3180/Sh (Neutral)

Citi on Infosys: Maintain Buy on Company, target price at Rs 1625/Sh (Neutral)

Corporate Actions

Infosys will consider a proposal for buyback of fully paid-up equity shares of the company at its meeting to be held on October 13, 2022.

Easy Trip Planners has approved the Sub-division/Split of each existing equity shares of face value of Rs. 2/- into 2 equity shares of face value of Rs. 1/- fully paid- up. and Issue of 3 (three) bonus equity shares for every 1 (one) fully paid-up equity shares.

Mefcom Capital Markets has approved the sub-division/split of each existing equity share of face value of Rs. 10/- into Five (5) equity shares of face value of Rs. 2/- and matters related thereto subject to the Shareholders and others approvals as may be required.

Regency Fincorp has fixed Friday, 21st October, 2022 as Record Date for the purpose of ascertaining the eligibility of the Members for allotment of bonus shares in the ratio of 1:1 i.e. One (1) Bonus Equity Share of Rs. 10/- each fully paid up for every One (1) Existing Equity Share of Rs. 10/- each held.

Ex-Date: 17-Oct-2022
TCS: Interim Dividend

Ex-Date: 19-Oct-2022
HCLTECH: Interim Dividend

Ex-Date: 20-Oct-2022
ANANDRATHI: Interim Dividend
ANGELONE: Interim Dividend
JAICORPLTD: Dividend - Rs. - 0.50

Ex-Date: 21-Oct-2022
VGIL: Final Dividend - Rs. - 0.20


Tracxn Technologies: Open: 10- Oct -22; Close: 12-Oct-22


Granules India: Open: 27-Sep-22; Close: 11-Oct-22
Quick Heal Technologies: Open: 04- Oct -22; Close: 18-Oct-22


Kaarya Facilities: Bonus Issue 1:1; Ex-Date: 12-Oct-22
Secmark Consultancy: Bonus Issue 3:2; Ex-Date: 12-Oct-22
Shivalik Bimetal Controls: Bonus Issue 1:2; Ex-Date: 12-Oct-22
Gretex Corporate Services: Bonus Issue 8:1; Ex-Date: 13-Oct-22
Veeram Securities: Bonus Issue 4:1; Ex-Date: 14-Oct-22
Atam Valves: Bonus Issue 1:1; Ex-Date: 21-Oct-22

Stock Split

Greencrest Financial Serv: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 12-Oct-22
Colorchips New Media: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 12-Oct-22
Nikhil Adhesives: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 12-Oct-22
Perfectpac: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 21-Oct-22
Anjani Foods: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 21-Oct-22
Sanmit Infra: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 28-Oct-22

Right Issue

Suzlon Energy: Open: 11- Oct -22; Close: 20- Oct -22

Forthcoming Event

12th October: HCLTECH to consider Dividend; Sarda Papers to consider Fund raising

13th October: ANANDRATHI, ANGELONE, INFY, STEELCITY to consider Dividend; Veer Energy & Infra to consider Bonus issue; Apollo Micro Systems to consider Fund raising; Infosys to consider buyback

16th October: KSOLVES to consider Dividend

17th October: Can Fin Homes, Ajooni Biotech to consider Fund raising

18th October: ICICIGI, LTTS, SONATSOFTW to consider Dividend

19th October: NAVINFLUOR, NAM-INDIA to consider Dividend; Madhya Bharat Agro Products to consider Bonus issue

20th October: ASIANPAINT, COFORGE, ISEC to consider Dividend; Rajnandini Metal Ltd. to consider Fund raising

21st October: RKFORGE to consider Dividend

26th October: DABUR to consider Dividend

31st October: Vishnu Chemicals Ltd. to consider Stock Split