Morning Market Pulse

Global Indices:

Unlisted shares:

1. In May 2024 NSE had announced bonus issue of 4:1 shares and since then investors have been waiting for the record date. The wait is finally over as NSE has announced the record rate as 2nd?November?2024.
2. Sterlite Power’s ?900 Crore Transmission Line Adds 2,000 MW to Stabilize Mumbai’s Energy Supply: Sterlite Power’s ?900 crore Panvel-Padgha transmission line adds 2,000 MW to the Mumbai Metropolitan Region, stabilizing energy supply. The project, delayed by COVID-19, aims to prevent outages and manage peak demand.
3. Modern Insulators Invests ?5 Crore in Swiggy Ahead of Upcoming IPO: Modern Insulators has invested ?5 crore for a 0.007% stake in Swiggy, purchasing 1.39 lakh shares ahead of Swiggy's upcoming IPO. The transaction is expected to be completed within 30-45 days.
4. Redcliffe Labs has raised $42 million in a Series C funding round: Redcliffe Labs has raised $42 million in a Series C round led by IFU, with LeapFrog. The fresh funds will support Redcliffe's expansion into tier II and III cities in India, adding more labs and collection centers.

Key Updates:

1. Mahindra & Mahindra?has launched the All-New Veero, a revolutionary light commercial vehicle (LCV) in the sub-3.5-ton segment, starting at ? 7.99 lakh.

2.?TVS Motors?has launched all new TVS Apache RR 310 with a starting price of Rs 2.72 lakh in Super Premium Sports Motorcycle category.

3.?Infosys?has collaborated with Life Insurance Corporation of India (LIC), to lead its digital transformation initiative called DIVE.

4.?Samvardhana Motherson Int. ltd?opened QIP comprising both new equity shares as well as compulsory convertible debentures. The floor price for Equity shares issuance is pegged at Rs 189/share with CCD will bear a coupon rate of 6.5% (convertible in about a years’ time frame).

5.?Firstsource Solutions?has collaborated with Microsoft to enhance its service offerings, driving innovation and efficiency across various industries using Microsoft‘s Azure OpenAI Service.

Stock Highlights:

1. Bajaj Housing Finance, recently listed, hit the upper circuit for the second straight day.
2. Ola Electric ended with a 10% upper circuit driven by a positive brokerage outlook.
3. Neogen Chemicals surged over 12% on positive brokerage notes.

Top Gainers:

1. Bajaj Auto was among the top Nifty gainers after launching new Triumph variants.
2. Hero MotoCorp hit a record high, soaring 3% in today’s session.
3. City Gas companies surged following positive brokerage notes, with MGL reaching an all-time high.
4. Vedanta gained 1% after management clarified its alumina refinery operations.

Top Losers:

1. Midcap underperformed with notable losers like Suzlon and Biocon.
2. Asian Paints and BPCL ended lower as Brent crude touched $73 per barrel.
3. SpiceJet plunged over 6% following its announcement to raise funds through a QIP.

IPO Corner

With companies offering investors insane listing profits, the IPO market appears to be getting hotter and hotter – PN Gadgil Jewellers listed at a premium of 73% at 830 against the allotment price of 480 per share.

Current IPO (Open for subscription)

Interesting Facts about the giant – Bajaj Housing Finance which recently listed at the markets!

1. BAJAJ Housing Finance closed at upper circuit for the second straight day at 181.5 in the markets. Bajaj Finance is having a book value of 24/share, so accordingly it is trading at a book value per share of 7.5. The valuations seems to be a bit stretched over here, but markets are irrational, hence it will be interesting to see how the market values it now!

2. Every Rs. 10 increase in the price of Bajaj Housing Finance is leading to a massive increase in its parent companies, let’s have a look!

Results in adding SOTP VALUE :

Bajaj Parent companies valuations seems to get more attractive than Bajaj housing Finance right now.

3. Bajaj Housing Finance market cap exceeds all the listed Housing Finance companies market cap!

The bajaj housing finance fever was not over yet and we have a news of one more giant to hit the markets – NTPC Green Energy unit may hit the Dalal street with a 10,000 crore issue!

There is news that it might have a shareholder quota as well – hence all investors who are willing to participate in the shareholder quota can buy 1 share of NTPC to be eligible under the shareholder category.

FII DII Data

FII- Net buy Rs 482Cr

DII- Net buy Rs 874Cr

Net buy Rs 1956Cr

August 2024 Trade Data

In August, India's trade deficit widened to $29.65 billion from $24.2 billion a year earlier, surpassing July's deficit of $23.50 billion. Merchandise exports fell to $34.71 billion from $38.28 billion last August, while imports hit a record $64.36 billion, up from $62.30 billion a year ago.

Stay tuned for more updates, and don't forget to explore investment opportunities with Altius Investech, your gateway to unlisted stocks.