Morning Market Pulse

BREAKING:

Iran fired over 400 missiles towards?Israel

NSE & BSE will remain closed today for Gandhi Jayanti

SEBI tightens F&O rules, effective phase-wise starting 20th November 2024 :

• Weekly options contracts limited to one per exchange
• Limit on weekly options contracts effective from Nov 20
• Mandates additional margin requirement of 2% for short options contracts on day of options expiry
• SEBI raises the minimum trading amount for derivatives from 5 lakh rupees to 15 lakh rupees
• SEBI limits derivatives contract expiries to one per exchange?per?week

Unlisted Share News:

• Global ride-hailing giant Uber has tied up with logistics provider Shadowfax to integrate its two-wheeler fleet with the ride-hailing platform’s Uber Moto bike-taxi offering.
• Titan Capital has launched Indicorns, a new index that highlights profitable startups with over Rs 100 crore in revenue. This initiative underscores the rising trend of self-sustaining businesses in India, demonstrating that startups can achieve profitability without relying heavily on external funding.
• Swiggy Instamart is now offering 24x7 free delivery of groceries and essentials across Delhi-NCR, including Delhi, Gurgaon, and Noida! Customers can enjoy the convenience of receiving their orders within 10-15 minutes at no extra cost, just in time for the festive season. This initiative caters to the increasing demand during celebratory occasions, allowing late-night orders for everything from groceries to?festive?treats.
• Zerodha founder and CEO Nithin Kamath in a blog post revealed why his company has stayed away from the urge to go public despite the soaring valuations that an IPO could bring.

"An IPO is not the end, but rather a new beginning. When retail investors enter the cap table, the company should be able to predict revenue to some extent. In the last 14 years, I have not once been correct in predicting revenue growth and dips," Kamath stated, underscoring the challenges of revenue predictability in the financial?industry.

• Coworking Space Provider DevX Files DRHP For IPO which will consist solely of a fresh issue of 2.47 Cr?equity?shares

Top Gainers:

Tech Mahindra: +3.06%

Mahindra & Mahindra: +2.28%

Britannia Industries: +1.70%

Adani Enterprises: +1.60%

Infosys: +1.53%

Top Losers:

Indusind Bank: -2.62%

Oil & Natural Gas Corporation: -1.90%

Asian Paints: -1.55%

Bajaj Auto: -1.53%

Titan Company: -1.26%

Highlights of top Financial News:

1.Oil prices jump 3% on reports Iran is preparing missile attack on Israel: Oil prices turned positive on Tuesday, jumping about 3%, following reports Iran was preparing to launch a missile attack on Israel.

2. Sebi raises contract size for index derivatives to Rs 15 lakh, effective from Nov 20: To account for market growth, Sebi is raising the minimum contract size for index futures and options to Rs 15 lakh from the current Rs 5-10 lakh range. This change reflects the threefold increase in market values since the limit was last set in 2015.

3. JSW Cement Expands Vijayanagar Plant Capacity By Two MTPA, Totaling Six MTPA: JSW Cement has set a goal of increasing the overall grinding capacity to 40.85 MTPA in the near term through greenfield and brownfield expansions across India.

4. Foxconn plans to invest up to Rs 424 crore in semiconductor JV with HCL: The iPhone contract manufacturer has purchased a 40 per cent stake in a semiconductor joint venture (JV) for about Rs 312 crore.

Corporate Updates:

• NTPC Green Energy Ltd signed a MoU with the Rajasthan government for a 25 GW renewable energy project.
• NHPC Ltd signed a MoU with the government of Rajasthan on September 30, 2024, for the development of pumped storage projects, renewable energy projects, and battery energy storage systems in the state of Rajasthan, with a proposed estimated investment of ?50,000 crore.
• Tata Power has signed a MoU with the Government of Rajasthan to Invest ?1.2 lakh crore over 10 years in renewable energy projects (solar, wind, hybrid and BESS), nuclear power plant, transmission and distribution, solar modules manufacturing plant, solar rooftop installations, and EV charging.
• Coal India will be applying uniform interest rates on delayed amounts of receivables, adjustments, and recoverable sums that remain outstanding after the due date. This will be effective from 1st October 2024.

Sectoral Update:

GST Collection Data:

? Sept total GST mop-up at 1.73 lakh cr vs 1.62 lakh cr, up 6.5% YoY

? Sept Central GST mop-up at ?31,400 cr vs 29,800 cr YoY

? Sept State GST mop-up at ?39,300 cr vs 37,700 cr YoY

? Sept Integrated GST mop-up at ?90,600 cr vs ?83,600 cr YoY

? Sept GST cess mop-up at ?11,900 cr vs?11,600?cr?YoY

The Goods and Services Tax (GST) collections in September slowed down to a 40-month low of 6.5% in September and generated revenues of Rs 1,73,240 crore, about 1% lower than the August numbers. According to the latest data, the monthly average of GST collections dropped to Rs 1.77 lakh crore in the second quarter of FY25, down from Rs 1.86 lakh crore in the preceding quarter. The GST collection in August 2023 was Rs 1.63 lakh crore in?terms?of?GST.

IPO Corner:

• Vikran Engineering Applies For IPO To Sell Shares Worth Rs 1,000 Crore
• Sambhv Steel Tubes Files Draft IPO Papers For Mainboard Listing
• Midwest files DRHP with SEBI for fund?raise?via?IPO

15+ Mainline IPOs filed DRHPs on 30th Sep - 1 Oct for IPO

Strong IPO Pipeline Ahead !!!

1. Scoda Tubes

2. Aditya infotech

3. Ajax Engineering Limited

4. Vikram Solar

5. Vikran Engineering

6. ALL Time Plastics

7. Jaro Institute of technology

8. Midwest Limited

9. Dev Accelerator

10. Rahee Infratech

11. VMS TMT

12. Prostartm Info System

13. Varindera Construction

14. Sambhav Steel

15. Viney Corporation?Limited

FII DII Data: