The key equity indices ended with limited losses on Thursday. After hitting the day's low at 18,048, the Nifty 50 index staged a decent recovery and closed above the 18,150 mark. Bank stocks outperformed, as they witnessed some buying interest after declining in the past two session. Rising inflationary pressures and their consequent impacts on corporate earnings and margins dented the investor sentiment.

As per provisional closing data, the barometer index, the S&P BSE Sensex, dropped 336.46 points or 0.55% to 60,923.50. The Nifty 50 index lost 88.50 points or 0.48% to 18,178.10.

In the broader market, the S&P BSE Mid-Cap index slipped 0.38%. The S&P BSE Small-Cap index shed 0.69%.

The market breadth was almost even. On the BSE, 1610 shares rose and 1676 shares fell. A total of 140 shares were unchanged.

Buzzing Index:

The Nifty Bank index rose 1.30% to 40,030.20. The index had declined by 0.42% in two sessions.

Kotak Mahindra Bank (up 6.37%), RBL Bank (up 4.23%), Punjab National Bank (up 3.94%), Federal Bank (up 2.71%), IDFC First Bank (up 2.16%), AU Small Finance Bank (up 1.98%), ICICI Bank (up 1.29%), SBI (up 0.61%), Axis Bank (up 0.37%) and HDFC (up 0.15%) advanced while, IndusInd Bank declined 1.44%.

Stocks in Spotlight:

Asian Paints tumbled 5.35% to Rs 2999. The company posted a 28.2% decline in consolidated net profit to Rs 595.96 crore in Q2 FY22 as compared to Rs 830.37 crore posted in Q2 FY21.

The paint maker's revenue from operations increased by 32.6% to Rs 7,096 crore in Q2 FY22 from Rs 5350.23 crore posted in Q2 FY21.

Amit Syngle, MD & CEO of Asian Paints said, “The domestic decorative business continued to move ahead on its high growth trajectory with an unprecedented 34% volume growth in the quarter and a strong compounded growth rates over the last two years. The Industrial Coatings business also registered strong double-digit revenue growth led by robust demand for protective coatings and uptick in the automotive sector.

The Home Improvement business continued to scale up in a significant manner registering its highest quarterly revenues, aided by strong alignment with the projects business. Performance in the International Business was a mixed bag with good growth in the South Asian markets while markets in Middle East & Africa were sluggish with challenges around COVID and forex availability.

Steep inflation seen in raw material prices, since the beginning of this calendar year, has been phenomenal and has impacted gross margins across all businesses in the quarter.”

We have taken a series of price increases and would look at further price increase to mitigate the impact of this persistently high inflation and are confident that we should be able to turn this around strongly in the coming quarter.”

Following the earnings announcement by Asian Paints, shares of five paint makers edged lower in trade.

Berger Paints (down 6.03%), Asahi Songwon Colors (down 1.56%), Indigo Paints (down 1.11%), Shalimar Paints (down 1.02%) and AkzoNobel India (down 1.04%) declined.

Shoppers Stop hit an upper circuit of 20% at Rs 326.15. The company reported net loss of Rs 3.58 crore in Q2 September 2021, lower than net loss of Rs 97.70 crore in Q2 September 2020. Net sales surged 116.20% to Rs 642.07 crore in Q2 September 2021 over Q2 September 2020.

The company said it witnessed strong recovery in demand after the second wave across the formats, with sales moving swiftly close to pre-pandemic levels in August and September. All the stores are now fully operational, with overall store operation days at 87% for the quarter.

Syngene International fell 1.79% to Rs 595.60. The company's consolidated net profit (after exceptional items) dropped 20.68% to Rs 66.70 crore on a 17.43% surge in revenue from operations to Rs 610.20 crore in Q2 FY22 over Q1 FY21.

Tejas Networks slipped 3.73% at Rs 450. The company posted a 19.2% drop in consolidated net profit to Rs 3.66 crore in Q2 FY22 as compared to a net profit of Rs 4.53 crore posted in Q2 FY21. Revenue from operations increased by 57% to Rs 172.78 crore in Q2 FY22 over Q2 FY21. The profit before stood at Rs 3.33 crore in Q2 FY22, 26.5% lower than Rs 4.53 crore in Q2 FY22 over Q2 FY21. Profitability was impacted after total expenses spiked 52.7% to Rs 173.62 crore in Q2 FY22 over Q2 FY21.

Supreme Petrochem dropped 5.69% to Rs 691.75. The company's standalone net profit jumped 47.49% to Rs 127.07 crore on a 71.56% surge in total income from operations (net) to Rs 1,190.76 crore in Q2 FY22 over Q2 FY21.

Tata Steel Long Products skid 4.71% to Rs 869.50. The company's net profit declined by 59.36% to Rs 134.77 crore in Q2 FY22 from Rs 331.60 crore in Q1 FY22. Revenue from operations in the second quarter fell by 2.98% to Rs 1,637.37 from Rs 1,687.64 reported in the first quarter of the financial year 2021-22.

Just Dial slipped 1.78% to Rs 867.15. The company's consolidated net profit fell 30.48% to Rs 32.91 crore on 6.89% decline in net sales to Rs 155.98 crore in Q2 September 2021 over Q2 September 2020.

Deferred revenue stood at Rs 334.2 crore, up 8.7% QoQ and up 19.6% YoY. Total traffic (unique visitors) for the quarter stood at 149.5 million, up 14.5% YoY and 20.5% QoQ. Total active listings stood at 31 million as on 30 September 2021, an increase of 3.3% YoY and 1.3% QoQ.

Havells India slumped 8.30% at Rs 1,289.90. The company's standalone net profit declined 7.18% to Rs 301.56 crore on 31.38% rise in net sales to Rs 3221.03 crore in Q2 September 2021 over Q2 September 2020.

The company reported healthy growth across business verticals. It added that increase in commodity cost remained unabated with severe escalation in a rather short period. Price increase have been staggered creating a lag affect on margins. However, we maintain a positive outlook on demand growth which could support margin as well, the company said.

Jindal Stainless (Hisar) (JSHL) added 3.55% to Rs 325.15. JSHL has commissioned 26,000 tonnes per annum (TPA) capacity Precision Strip Mill as part of the first phase of its latest brownfield expansion plan at its state-of-the-art specialty products division (SPD).

PNB Housing Finance hit a lower circuit of 5% at Rs 520.60. The company said that its board will on 2 November 2021 consider plans to raise funds via issuance of non-convertible debentures on private placement basis aggregating up to Rs 2,000 crore in tranches.

Global Markets:

European stocks fell across the board while Asian stocks ended mixed on Thursday, 21 October 2021 as concerns about the Chinese property sector returned to the fore, while investors also monitored a slew of corporate earnings.

Evergrande said on Wednesday it had scrapped a deal to sell a 50.1% stake in Evergrande Property Services Group Ltd to Hopson Development Holdings Ltd as the smaller rival had not met the prerequisite to make a general offer.

In US, the Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts, attributed the slowdown to supply chain disruptions, labor shortages, and uncertainty around the Delta variant of COVID-19. The Fed also said employment increased at a modest to moderate rate in recent weeks, as demand for workers was high, but labor growth was dampened by a low supply of workers.

The domestic equity benchmarks ended with significant cuts after a volatile session on Wednesday. The Nifty closed below the 18,250 mark. Metal, pharma, auto, FMCG and realty stocks declined while PSU banks and media shares bucked the trend.

As per provisional closing data, the barometer index, the S&P BSE Sensex, dropped 456.09 points or 0.74% to 61,259.96. The Nifty 50 index lost 152.15 points or 0.83% to 18,266.60.

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, jumped 5.35% to 18.31.

The broader market tumbled. The S&P BSE Mid-Cap index slipped 1.91%. The S&P BSE Small-Cap index shed 2.31%.

Sellers outnumbered buyers. On the BSE, 1004 shares rose and 2297 shares fell. A total of 126 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 241,553,899 with 4,912,909 deaths. India reported 178,098 active cases of COVID-19 infection and 452,651 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.

A total of 99,13,37,625 COVID-19 vaccine doses have been administered in the country so far, with over 41.29 lakh doses being given yesterday, according to the Co-WIN dashboard.

Buzzing Index:

The Nifty Metal index fell 2.06% to 5,974, declining for second day. The index has corrected by 4.46% in two sessions.

Hindustan Copper (down 4.59%), National Aluminum Co. (down 4.03%), Vedanta (down 3.99%), Hindalco Industries (down 3.90%), APL Apollo Tubes (down 3.47%), Welspun Corp (down 3.04%), SAIL (down 2.81%) declined.

Further, Hindustan Zinc (down 2.55%), Coal India (down 2.17%), NMDC (down 1.94%), Tata Steel (down 1.73%) and JSW Steel (down 0.93%) edged lower.

Stocks in Spotlight:

Reliance Industries (RIL) fell 1.22% to Rs 2698.05. RIL's subsidiary Reliance Retail Ventures has reportedly acquired 52% equity stake in Ritika Pvt Ltd that owns Ritu Kumar, Label Ritu Kumar, RI Ritu Kumar, aarké, and Ritu Kumar Home and Living, including complete acquisition of Everstone's 35% stake in the company.

Jubilant Foodworks slumped 8.78% to Rs 3954.15. On a standalone basis, Jubilant Foodworks posted a 58% rise in standalone net profit to Rs 121.5 crore on a 36.6% rise in revenue from operations to Rs 1100.7 crore in Q2 FY22 over Q2 FY21.

Domino's Like-for-Like (LFL) sales growth stood at 29.4% in Q2 FY22 as compared to a negative 18.8% in Q2 FY21. LFL sales growth refers to the year-over-year growth in sales for non-split restaurants opened before previous financial year.

Same store growth (SSG) came at 26.3% in Q2 FY22 as against a negative 20% in the same period last year. SSG refers to the year-over-year growth in sales for restaurants opened before previous financial year. As on 30 September 2021, there were 1,435 Domino's Pizza stores, 28 Dunkin Donuts stores and 21 Hong's Kitchen and Ekdum! stores.

Nestle India shed 0.52% to Rs 19277.05. The company's net profit rose 5.16% to Rs 617.37 crore on 9.63% increase in net sales to Rs 3,864.97 crore in Q3 September 2021 over Q3 September 2020. In overall terms, the third quarter saw strong high single digit volume & mix growth in domestic sales, the company said.

L&T Technology Services fell 3.49% to Rs 4944.70. The company's consolidated net income rose 6.4% to Rs 230 crore on 5.9% increase in revenue to Rs 1607.70 crore in Q2 September 2021 over Q1 June 2021. The company raised FY22 USD revenue growth guidance to 19-20%.

ACC added 0.65% to Rs 2260. The cement maker's consolidated profit after tax rose 24% to Rs 450 crore on 5.33% increase in net sales to Rs 3653 crore in Q2 September 2021 over Q2 September 2020.

ICICI Prudential Life Insurance Company dropped 4% to Rs 633.75. The company reported profit after tax of Rs 445 crore in Q2FY22 against Rs 303 crore in Q2FY21. Net premium income increased to Rs 9286 crore in the second quarter of the fiscal from Rs 8572 crore a year ago.

Nelco was locked in a lower circuit of 5% at Rs 911.25. The company's consolidated net profit soared 53.15% to Rs 3.40 crore on a 13.52% surge in total income to Rs 61.46 crore in Q2 FY22 over Q2 FY21.

ICICI Securities declined 2.36% to Rs 801.15. The brokerage company posted a 26.3% increase in consolidated net profit to Rs 351.24 crore on a 26% rise in revenue to Rs 857 crore in Q2 FY22 over Q2 FY21.

The stock broking company's profit before tax stood at Rs 470.92 crore in Q2 FY22, 26.5% higher than Rs 372.30 crore reported in Q2 FY21, on account of growth in revenue and improvement in margins. The company said it added over 5.8 lakh clients and reported its highest ever quarterly addition.

Ipca Laboratories slipped 1.63% to Rs 2308. The pharmaceutical company said its board will consider 2-for-1 stock split on 13 November 2021. The board will consider splitting each share of face value Rs 2 each into two shares of face value of Re 1 each. On 13 November 2021, the company's board will also consider Q2 results and interim dividend.

Global Markets:

Shares in Europe and Asia were mixed on Wednesday, as investors digested a slew of corporate earnings.

China on Wednesday kept the one-year loan prime rate (LPR) unchanged at 3.85% while the five-year LPR was also held steady at 4.65%.

U.S. stocks climbed on Tuesday as major companies continued to report strong third-quarter earnings, easing concerns that persistent COVID-19 cases and rising costs would derail corporate America's profit recovery.

The International Monetary Fund (IMF) on Tuesday downgraded its 2021 economic growth forecast for Asia after the highly infectious COVID-19 delta variant caused a spike in cases in parts of the region. The IMF said it expects Asia's economy to grow by 6.5% in 2021, compared with its April forecast for a 7.6% expansion. The region's growth will be led by China and India, the fund added.

The IMF expects China to grow 8% this year and India by 9.5% in the fiscal year that ends next March.

The domestic equity barometers ended with minor cuts after a volatile session on Tuesday. Despitr trading in the green for most part of the session, the key equity indices failed to extend their upward rally for eight day. The Nifty closed below the 18,450 mark. Realty stocks witnessed sharp sell-off.

As per provisional closing data, the barometer index, the S&P BSE Sensex, declined 49.54 points or 0.08% to 61,716.05. The Nifty 50 index lost 58.30 points or 0.32% to 18,418.75.

The Sensex hit a record high of 62,245.43 while the Nifty hit an all-time high of 18,604.45 in morning trade.

In the past seven sessions, the Sensex has advanced 4.35% while the Nifty had gained 4.71%.

In the broader market, the S&P BSE Mid-Cap index shed 1.98%. The S&P BSE Small-Cap index declined 1.79%.

Sellers outnumbered buyers. On the BSE, 985 shares rose and 2380 shares fell. A total of 124 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 241,115,485 with 4,905,196 deaths. India reported 183,118 active cases of COVID-19 infection and 452,454 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.

A total of 98,63,51,204 COVID-19 vaccine doses have been administered in the country so far, with over 87.23 lakh doses being given yesterday, according to the Co-WIN dashboard.

Buzzing Index:

The Nifty Realty index tumbled 5.30% to 513.10. The index had advanced 1.76% in the past two sessions.

Indiabulls Real Estate (down 7.17%), Macrotech Developers (down 6.68%), Oberoi Realty (down 6.46%), DLF (down 6.06%), Godrej Properties (down 4.91%), Sunteck Realty (down 3.55%), Sunteck Realty (down 2.99%), Prestige Estates (down 2.67%) and The Phoenix Mills (down 2.53%) declined.

Stocks in Spotlight:

Hindustan Unilever slumped 4.10% to Rs 2545.45. The FMCG major posted a 9% rise in standalone net profit to Rs 2,187 crore on an 11% increase in revenue from operations to Rs 12,516 crore in Q2 FY22 over Q2 FY21. EBITDA margin stepped up sequentially and stood at 25% in Q2 FY22.

During the quarter, the company reported domestic consumer growth of 11%. HUL said its performance was broad based with all three divisions growing competitively. Business fundamentals remained strong with more than three-fourths of the business gaining market share and penetration.

Sanjiv Mehta, chairman and MD said, September quarter witnessed a sequential improvement in trading conditions, albeit remained challenging with unprecedented levels of input cost inflation and subdued consumer sentiments. Large parts of our business continue to gain market shares and penetration. Looking forward, we remain cautiously optimistic about demand recovery.

TV18 Broadcast fell 1.39% to Rs 46.05. The broadcasting company posted an 86.67% increase in consolidated net profit to Rs 140 crore on a 29% rise in revenue from operations to Rs 1308 crore in Q2 FY22 over Q2 FY21.

Larsen & Toubro Infotech (LTI) soared 15.66% to Rs 6831.95. The company reported 11.1% increase in consolidated profit to Rs 551.70 crore on 8.8% rise in revenue to Rs 3767 crore in Q2 FY22 over Q1 FY22.

Route Mobile fell 3.52% to Rs 2183.60. The company posted a 22.58% jump in consolidated net profit to Rs 42.07 crore on a 15.4% increase in net sales to Rs 435.67 crore in Q2 FY22 as compared to Q1 FY22. The company's consolidated net profit has risen by 28.3% and net sales have risen by 24.7% in Q2 FY22 over Q2 FY21.

State Bank of India (SBI) declined 2.13% to Rs 487.25. SBI has allotted 6,000 Basel III compliant non-convertible, taxable, perpetual, subordinated, unsecured, fully paid-up debt instruments in the nature of debentures qualifying as AT-1 capital of the bank of face value of Rs 1 crore each, at par, bearing a coupon of 7.72% p.a. payable annually, aggregating to Rs 6,000 crore to bond subscribers on 18 October 2021.

Meanwhile, the Reserve Bank of India (RBI) on Monday imposed a monetary penalty of Rs 1 crore on SBI for non-compliance with the directions contained in 'Reserve Bank of India (Frauds classification and reporting by commercial banks and select FIs) directions 2016'.

Alok Industries tumbled 11.61% to Rs 23.60. The company's reported net loss of Rs 84.11 crore in Q2 FY22 as compared to a net profit of Rs 4,798.64 crore in Q2 FY21. Revenue from operations surged 134.24% to Rs 1,904.57 crore in Q2 FY22 over Q2 FY21.

TTK Prestige jumped 11.76% to Rs 9,860. The company said that its board will consider sub-division/split of equity shares of the company in its meeting scheduled on 27 October 2021.

H.G. Infra Engineering rose 2.65% to Rs 750.10. The company has been declared as L-1 bidder by National Highways Authority of India (NHAI) for two HAM projects.

Indian Energy Exchange (IEX) jumped 5.31% Rs 839.25. The board of directors of IEX will consider the proposal for declaration of bonus issue of equity shares in its meeting scheduled on 21 October 2021.

Global Markets:

European stocks mostly advanced while most Asian stocks ended higher on Tuesday. Investors mulled corporate earnings as well as the prospect of tightening monetary policy to restrain inflation.

Minutes from the Reserve Bank of Australia's October monetary policy meeting showed the RBA expecting the Australian economy to return to growth in the December quarter and to its pre-Delta path in the second half of 2022.

In US, the S&P and Nasdaq closed higher on Monday with the biggest boosts from the highest-profile technology and communications companies while investors eyed product news from Apple Inc and appeared optimistic about the third-quarter earnings season.

U.S. industrial production declined in September as supply constraints continued to hinder manufacturing. Output fell almost 1.28% to its lowest level since February, when it fell 3.02%, according to data released Monday by the Federal Reserve.

The key barometers ended with strong gains on Monday. As per provisional closing data, the barometer index, the S&P BSE Sensex, jumped 459.64 points or 0.75% to 61,765.59. The Nifty 50 index gained 138.50 points or 0.76% at 18,477.05.

In the broader market, the S&P BSE Mid-Cap index rose 0.95%. The S&P BSE Small-Cap index gained 0.69%.

Buyers outnumbered sellers. On the NSE, 1035 shares rose and 995 shares fell. A total of 66 shares were unchanged.

High-paced vaccination drive, reviving economies across the world, easing inflation, and RBI's dovish stance boosted sentiment. However, rising global crude oil prices and a weak domestic currency worried investors.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 240,665,365 with 4,898,487 deaths. India reported 189,694 active cases of COVID-19 infection and 452,290 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.

A total of 97,74,54,119 COVID-19 vaccine doses have been administered in the country so far, with over 12.02 lakh doses being given yesterday, according to the Co-WIN dashboard.

Buzzing Index:

The Nifty PSU Bank index rose 3.98% to 2,824.55, advancing for seventh day in a row. The index has gained 13.31% in seven sessions.

Union Bank of India (up 9.15%), Punjab National Bank (up 8.11%), Bank Of Baroda (up 4.85%), Indian Bank (up 4.22%), Punjab & Sind Bank (up 4.04%) and Bank of Maharashtra (up 4.03%) edged higher.

Concurrently, Bank of India (up 3.93%), Jammu and Kashmir Bank (up 3.47%), Canara Bank (up 2.79%), UCO Bank (up 2.45%), Central Bank of India (up 1.72%), SBI (up 1.50%) and Indian Overseas Bank (up 0.88%) advanced.

Stocks in Spotlight:

HDFC Bank fell 1.01% to Rs 1,670.30. The bank reported an 17.6% increase in its net profit to Rs 8,834.30 crore in Q2 FY22 over Q2 FY21. The bank's net revenues rose 14.7% to Rs 25,085.20 crore in Q2 FY22 over Q2 FY21.

HCL Technologies shed 2.38% to Rs 1,221.40. The IT major reported 1.7% rise in consolidated net profit to Rs 3,259 crore on a 2.9% increase in revenue from operations to Rs 20,655 crore in Q2 FY22 over Q1 FY22.

Avenue Supermarts dropped 8% to Rs 4,897.80. The company reported consolidated net profit of Rs 418 crore in Q2 FY22 as compared to net profit of Rs 199 crore in Q2 FY21. The company's total revenue rose to Rs 7,789 crore in Q2 FY22 from Rs 5,306 crore in Q2 FY21.

Ultratech Cement rose 0.05% to Rs 7,399.30. The cement maker's consolidated net profit rose 0.38% to Rs 1,314 crore on 14.41% increase in net sales to Rs 11,743 crore in Q2 September 2021 over Q2 September 2020.

The firm said that Coal and Pet coke prices nearly doubled in Q2 FY22 resulting in energy cost rising 17% YoY. The resulting impact on the company's operations were partly offset by reduction in power consumption and continuing focus on operational efficiencies.

Antony Waste Handling Cell tumbled 10.93% to Rs 343.50. The company said that the Income Tax Department conducted a search at the company's premises and that of three of its subsidiary companies. The search proceedings were concluded on 15 October 2021, the company said.

Cyient rose 2.76% to Rs 1,191.85. The company's consolidated net profit added 5.47% to Rs 121.30 crore on a 5.04% increase in revenue from operations to Rs 1,111.60 crore in Q2 September 2021 over Q2 June 2021. The company's consolidated net profit jumped 44.57% while revenue from operations surged 10.79% in Q2 FY22 over Q2 FY21.

During the quarter, the group EBIT margin stood at 14%, leading its highest ever operating profit. The order intake grew by 23% Y-o-Y. The offshoring was at 50%, its highest in the past ten quarters.

Indiabulls Real Estate jumped 6.31% to Rs 174.450. The real estate company posted a consolidated net profit of Rs 5.53 crore in Q2 FY22 as compared to a net loss of Rs 76.13 crore in Q2 FY21. Revenue from operations soared 1632% to Rs 349 crore in Q2 FY22 from Rs 20.15 crore registered in Q2 FY21.

The company's consolidated debt net of cash and liquid investments stood at Rs 967 crore as on 30 September 2021 as compared to Rs 2,025 crore as on 21 March 2020 wherein total sold receivables and completed inventory in hand was at Rs 3,369 crore as on date.

Mahindra CIE Automotive (MCIE) jumped 5.41% to Rs 264.10 after the company's consolidated net profit surged 173.73% to Rs 166.32 crore on 23.40% increase in net sales to Rs 2,090.69 crore in Q3 September 2021 over Q3 September 2020. Profit before tax jumped 91% to Rs 179.04 crore in Q3 September 2021 over Q3 September 2020.

Global Markets:

European stocks fell across the board while most Asian stocks declined on Monday, 18 October 2021, as global markets geared up for big earnings reports.

China's economic growth continued to decelerate in the third quarter, as gross domestic product came in at 4.9%, softened by the country's zero-tolerance COVID measures and energy shortages.

The figure slid from 7.9% for the April-to-June quarter, weighed down by high commodity prices amid uncertainty kindled by the Evergrande Group's debt crisis, which is piling risk onto the property and banking sectors.

US stocks rose on Friday as Goldman Sachs rounded out a week of strong quarterly earnings for the big banks.

Barring auto and media index, buying demand was seen across the board with banking, financial, IT and metal stocks moving the most. The Nifty has rallied 3.9% in last six trading days while the BSE Sensex added 3.59% in the same period.

As per the provisional closing data, the barometer index, the S&P BSE Sensex, rallied 568.9 points or 0.94% to 61,305.17. The Nifty 50 index added 173.9 points or 0.96% to 18,335.25.

The broader market underperformed the benchmark indices. The S&P BSE Mid-Cap index was up 0.54% while the S&P BSE Small-Cap index gained 0.46%. The BSE Mid Cap index has gained 5.22% while the BSE Small Cap index rallied 4.18% in last six trading days.

The market breadth was positive. On the BSE, 1722 shares rose and 1631 shares fell. A total of 143 shares were unchanged.

Economy:

India's inflation based on wholesale price index (WPI) rose 10.66% in September 2021 compared with 1.32% in September 2020.

The high rate of inflation in September 2021 is primarily due to rise in prices of mineral oils, basic metals, non-food articles, food products, crude petroleum & natural gas, chemicals and chemical products, etc. compared with the corresponding month of the previous year, the Ministry of Commerce & Industry said in a statement today.

WPI grew 11.39% in August 2021, while the figure for July was 11.57%.

Earnings Impact:

Mindtree surged 7.47% after the company reported 16.2% rise in consolidated net profit to Rs 398.9 crore on a 12.9% increase in revenue to Rs 2,586.2 crore in Q2 FY22 over Q1 FY22. As compared to Q2 FY21, the company's net profit and revenue have increased by 57.2% and 34.3%, respectively. EBITDA improved by 14.3% to Rs 530.7 crore in Q2 FY22 from Rs 464.5 crore in Q1 FY22. EBITDA margin was at 20.5% as on 30 September 2021 as against 20.3% as on 30 June 2021. The company's free cash flow increased to Rs 279.1 crore in Q2 FY22 from Rs 97.3 crore in Q1 FY22. In dollar terms, Mindtree registered 16% increase in consolidated net profit to $54 million on a 12.7% rise in revenue to $350.1 million in Q2 FY22 over Q1 FY22.

Wipro climbed 5.32% after the IT major reported 9.6% fall in consolidated net profit to Rs 2,930.7 crore in Q2 FY22 from Rs 3,242.6 crore in Q1 FY22. Revenue from operations increased by 7.8% Q-o-Q to Rs 19,667.4 crore during the quarter. As compared to Q2 FY21, the IT firm's net profit and revenue from operations in Q2 FY22 have risen by 18.9% and 30.1%, respectively. Profit before tax in Q2 FY22 stood at Rs 3,756.5 crore, down by 3% from Rs 3,873.3 crore in Q1 FY22. In dollar terms, Wipro's gross revenue was $2.7 billion in the second quarter. The IT Services segment revenue was at $2,580 million, an increase of 6.9% Q-o-Q and 29.5% Y-o-Y. The Non-GAAP constant currency IT Services segment revenue increased by 8.1% Q-o-Q and 28.8% Y-o-Y. The IT Services operating margin for the quarter was at 17.8%, down 104 bps on a sequential basis.

Infosys gained 0.38%. The IT bellwether said its consolidated net profit rose 4.4% to Rs 5,421 crore on 6.1% increase in revenues to Rs 29,602 crore in Q2 FY22 over Q1 FY22. On a year-on-year basis, Infosys' net profit and revenue in Q2 FY22 increased 11.9% and 20.5%, respectively. Revenues in constant currency terms grew by 19.4% YoY and 6.3% QoQ. Operating margin for the quarter stood at 23.6%, a decline of 1.8% YoY and 0.1% QoQ. Infosys said its revenue guidance for FY22 is revised upwards to 16.5%-17.5%. Margin guidance is retained at 22%-24%.

Century Textiles & Industries jumped 2.37% to Rs 957.7 after the company reported a consolidated net profit of Rs 44.71 crore in Q2 FY22 as against a net loss of Rs 14.13 crore in Q2 FY21. Sales increased by 67.5% YoY to Rs 997.98 crore in Q2 FY22 over Q2 FY21. On the segmental front, revenue from Textiles was Rs 273.89 crore (up 99.6% YoY), Pulp and Paper revenue was Rs 685.97 crore (up 63.7% YoY), revenue from Real Estate was Rs 35.41 crore (down 0.4% YoY) and Other revenue was Rs 2.89 crore (down 27% YoY) during the period under review.

GTPL Hathway fell 2.97% after the company reported 4.5% fall in consolidated net profit to Rs 43.08 crore on a 3.5% rise in revenue from operations to Rs 595.94 crore in Q2 FY22 over Q2 FY21.

Stocks in Spotlight:

Dish TV India declined 2% after the board of satellite service provider rejected Yes Bank's demand to hold an extraordinary general meeting (EGM) to consider resolutions. The board of Dish TV India on Wednesday (13 October 2021) expressed its inability to convene EGM as requisitioned by Yes Bank, citing various regulatory and procedural hurdles. According to the company, Yes Bank's shareholding in Dish TV was due to invocation of pledges, and this prevented placing the resolutions before its shareholders. The board took the decision after considering the factual background, legal advice and opinions received from various legal experts. Yes Bank which holds 25.63% in Dish TV India has sought an EGM for the appointment of new independent directors and the removal of MD and director Jawahar Lal Goel.

Westlife Development jumped 2.88% after the company said it will add 150-200 stores and invest Rs 800-1,000 crore across the business over the next 3-4 years. This investment will go towards increasing the footprint, menu innovations, strengthening the company's supply chain, increasing its omnichannel presence and elevating consumer experience.

Apollo Pipes rose 1.63% after the company said that its board will consider bonus share issue on Friday, 22 October 2021.

Escorts fell 0.13%. The company said that Sanjeev Bajaj will be heading the construction equipment business for India as a chief executive from 1 December 2021. He will lead the growth agenda for this business. Bajaj has been with the company for last seven years and has prior experience in construction industry, Escorts said in a statement.

Global Markets:

European stocks rose across the board while most Asian stocks edged higher on Thursday with investors around the world reflecting on the latest inflation data and earnings out of the US. Investors also reacted to the release of China's inflation data for September. Markets in Hong Kong are closed on Thursday for a holiday.

China's producer price index for September soared 10.7% as compared with a year ago. China's consumer price index also rose 0.7% in September as compared with a year ago. Singapore's central bank unexpectedly tightened monetary policy on Thursday. Official advance estimates also showed on Thursday that Singapore's economy grew 6.5% year-on-year in the third quarter of 2021.

In US, the S&P 500 and Nasdaq ended higher on Wednesday, led by gains in shares of big growth names like Amazon.com and Microsoft, but JPMorgan shares fell along with other bank shares and weighed on the market.

Minutes released Wednesday afternoon from the Federal Open Market Committee's September meeting showed the central bank could begin tapering its asset-purchase program as soon as mid-November.

Consumer prices rose 0.4% last month, slightly higher than August's gain and pushing annual inflation back to the highest increase in 13 years. The consumer price index rose 5.4% in September from a year ago, the Labor Department said Wednesday, up slightly from August's gain of 5.3%. Excluding the volatile food and energy categories, core inflation rose 0.2% in September and 4% compared with a year ago. Core prices hit a three-decade high of 4.5% in June.

The Nifty ended above the 18,150 mark The NSE flagship index hit a record high of 18,197.80 in mid afternoon trade. Meanwhile, the BSE Sensex also registered an all-time high of 60,836.62.

As per the provisional closing data, the barometer index, the S&P BSE Sensex, was up 452.74 points or 0.75% at 60,737.16. The Nifty 50 index gained 169.25 points or 0.94% to 18,161.25.

The broader market displayed strength. The S&P BSE Mid-Cap index rose 1.62% while the S&P BSE Small-Cap index added 0.63%.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1766 shares rose and 1569 shares fell. A total of 141 shares were unchanged.

Results Today:

Infosys (up 1.2%), Mindtree (up 2.29%) and Wipro (up 1.97%) will announce their quarterly results today.

Economy:

In its latest World Economic Outlook report, released on Tuesday, the International Monetary Fund (IMF) said that Indian economy is expected to grow by 9.5% in 2021 and 8.5% in the next year.

The global growth projection for 2021 has been revised down marginally to 5.9% and is unchanged for 2022 at 4.9%.

India's industrial production rose 11.9% in August, according to the data released by the National Statistical Office (NSO) on Tuesday. The manufacturing sector, which constitutes 77.63% of the Index of Industrial Production (IIP), grew 9.7% in August, mining sector output rose 23.6% in August, while power generation increased 16 per cent.

Retail inflation growth in India based on Consumer Price Index (CPI) eased to 4.35% in the month of September following a 5.30% in August, the data released by the Ministry of Statistics & Programme Implementation (MoSPI) showed.

Stocks in Spotlight:

Tata Motors jumped 21%. The automobile maker and TPG Rise Climate entered into a binding agreement whereby TPG Rise Climate along with its co-investor ADQ, shall invest in a subsidiary of Tata Motors that will be newly incorporated. TPG Rise Climate along with co-investors shall invest Rs 7,500 crore in compulsory convertible instruments to secure between 11 % to 15 % stake in this company translating to an equity valuation of up to $9.1 billion. The new company shall leverage all existing investments and capabilities of Tata Motors and will channelise the future investments into electric vehicles, dedicated BEV platforms, advanced automotive technologies and catalyse investments in charging infrastructure and battery technologies. Over the next 5 years, this company will create a portfolio of 10 EVs and in association with Tata Power, catalyse the creation of a widespread charging infrastructure to facilitate rapid EV adoption in India.

Index major Reliance Industries (RIL) rose 0.85%. Reliance New Energy Solar (RNESL), a wholly owned subsidiary of RIL, has invested $29 million as a strategic lead investor in Germany-based NexWafe GmbH's (NexWafe) Series C financing round. Separately, RNESL and Denmark-based Stiesdal have signed a cooperation agreement for technology development, and manufacturing of Stiesdal's hydrogen electrolyzers in India.

Steel Exchange India jumped 6.56% after the company said that its board will meet on Friday, 15 October 2021, to consider proposal for raising of funds. The funds would be raised via issue of equity shares or convertible bonds or all types of debentures or warrants or any other equity linked securities, through permissible modes subject to such approvals, as may be required under applicable laws.

Hero MotoCorp rose 0.41%. The two-wheeler major has partnered with Gilera Motors Argentina to expand its operations in Argentina, one of the key markets in South America. Gilera Motors Argentina is one of the leading automotive companies in Argentina and one of the most enduring motorcycle manufacturers in Latin America. As part of the deal, Gilera Motors will be the exclusive distributor for the sale and service of Hero MotoCorp motorcycles and scooters in Argentina. It will also make new investments in operations to drive business growth.

Ultratech Cement rose 1.4% after the company announced the commissioning of cement capacity of 1.2 mtpa in October 2021. The cement major said that Patliputra Cement Works in Bihar added cement capacity of 0.6 mtpa, taking its capacity to 2.5 mtpa. Dankuni Cement Works in West Bengal increased cement capacity of 0.6 mtpa, taking its capacity to 2.2 mtpa.

Bhansali Engineering Polymers rose 2.97% after the company's consolidated net profit surged 249.36% to Rs 123.57 crore on 21.76% increase in net sales to Rs 374.84 crore in Q2 FY22 over Q2 FY21. Profit before tax soared 262.48% to Rs 164.53 crore in Q2 FY22 over Q2 FY21. Net cash from operating activities surged to Rs 111.78 crore as on 30 September 2021 compared with Rs 87.52 crore as on 31 March 2021. The company declared an interim dividend of Re 1 per share. The record date is fixed on 22 October 2021.

Centrum Capital surged 13.6% after the Reserve Bank of India (RBI) issued a small finance bank (SFB) license to the consortium of Centrum Financial Services (Centrum) and Resilient Innovations (BharatPe).

Zen Technologies hit an upper circuit of 5% at Rs 215.60 after the company said that its board will meet on Saturday, 16 October 2021, to consider fund raising plans.

Global Markets:

Most European shares were trading higher while most Asian stocks closed on a positive note on Wednesday, as concerns around global growth and inflation continue to concern investors.

US stocks decline for the third consecutive session Tuesday ahead of a key inflation reading and a kick-off to third-quarter earnings season.

The Federal Open Market Committee on Wednesday is also set to release its minutes from the September meeting. Investors will be digesting the minutes for any potential clues regarding the central bank's plans to pull back easy monetary policy.

As per the provisional closing data, the barometer index, the S&P BSE Sensex, was up 148.53 points or 0.25% at 60,284.22. The Nifty 50 index rose 46 points or 0.26% to 17,991.95.

The broader market closed with decent gains. The S&P BSE Mid-Cap index rose 0.65% while the S&P BSE Small-Cap index was up 0.26%.

The market breadth was positive. On the BSE, 1790 shares rose and 1551 shares fell. A total of 137 shares were unchanged.

In the commodities market, Brent crude for December 2021 settlement was up 0.10% at $83.73 a barrel. India is heavily dependent on oil imports for satisfying its domestic demand. A high crude price directly maps into a high trade deficit and in turn a high current account deficit (CAD). At the same time, being an important input for the aggregate economy, a crude price shock also leads to a spike in domestic inflation.

Earnings Impact:

G M Breweries jumped 13% after the company's net profit surged 94.92% to Rs 21.85 crore on 59.69% increase in net sales to Rs 115.95 crore in Q2 FY22 over Q2 FY21. Profit before tax (PBT) jumped 94.80% to Rs 29.20 crore in Q2 FY22 over Q2 FY21. Net cash from operating activities surged to Rs 51.54 crore as on 30 September 2021 compared with Rs 1.41 crore as on 31 March 2021

Krsnaa Diagnostics fell 6.43% after the company's net profit declined 44.56% to Rs 12.54 crore on 27.9% decline in net sales to Rs 108.26 crore in Q2 FY22 over Q2 FY21.

Tata Metaliks tumbled 6.2% after the company's net profit declined by 33.4% to Rs 54.62 crore in Q2 FY22 from Rs 82 crore in Q2 FY21. Revenue from operations, however, rose by 24.1% YoY to Rs 644.84 crore during the quarter. Total expenses increased by 31.4% to Rs 566.95 crore in Q2 FY22 over Q2 FY21, due to a sharp rise in raw material costs (up 51.5% YoY). Profit before tax in the second quarter stood at Rs 81.01 crore, down by 10.2% from Rs 90.21 crore recorded in the same period last year.

Delta Corp rallied 4.52% after the company reported net loss of Rs 22.57 crore in Q2 FY22, lower than net loss of Rs 54.91 crore in Q2 FY21. Net sales surged 94.74% to Rs 74.72 crore in Q2 FY22 over Q2 FY21. On a sequential basis, net sales declined 1.52% in Q2 FY22 from Q1 FY22. The income from casino gaming division fell to Rs 40.05 crore in Q2 FY22 as against Rs 41.43 crore in Q1 FY22.

Stocks in Spotlight:

Container Corporation of India (CONCOR) rose 1.14%. The company said that its total physical volumes handled increased by 10.74% to 9,80,757 twenty-foot equivalent units (TEUs) in Q2 FY22 as compared with 8,85,673 TEUs in Q2 FY21. The physical volumes have, however, declined by 1.11% from 9,91,746 TEUs in Q1 FY22. While the domestic physical volumes jumped by 33.68% to 1,88,332 TEUs, export-import (EXIM) physical volumes improved by 6.40% to 7,92,425 in Q2 FY22 over Q2 FY21.

Tata Power Company advanced 1.96% to Rs 195.30 after the company's wholly-owned subsidiary Tata Power Solar Systems bagged EPC orders worth Rs 538 crore from Energy Efficiency Services (EESL). The contract is for setting up multiple distributed ground mounted solar projects totalling 100 MW. The EESL project sites are located in Maharashtra. The work secured includes engineering, design, supply, construction, erection, testing, O&M and commissioning of the solar projects. The commissioning date of the projects is set for 12 months

Hester Biosciences surged 4.85% on reports that Bharat Biotech's Covaxin has received emergency use approval for children in the 2-18 years age group. Covaxin is India's indigenous COVID-19 vaccine by Bharat Biotech developed in collaboration with the Indian Council of Medical Research (ICMR) - National Institute of Virology (NIV).

Suryoday Small Finance Bank rose 1.04% after the bank's gross advances increased by 19.6% to Rs 4,471 crore as on 30 September 2021 from Rs 3,737 crore as on 30 September 2020. The gross advances have risen by 11.7% from Rs 4,004 crore as on 30 June 2021. Disbursements for the quarter increased by 2.84 times to Rs 1,061 crore from Rs 374 crore disbursed in the same period last year. On a sequential basis, the disbursements have risen by 2.94 times from Rs 361 crore as on 30 June 2021.

Ujjivan Small Finance Bank jumped 11% after the bank's total deposits increased by 31% to Rs 14,090 crore in Q2 FY22 from Rs 10,743 crore in Q2 FY21. The total deposits have risen by 3% from Rs 13,673 crore in Q1 FY22. CASA was at Rs 3,168 crore as on 30 September 2022 as against Rs 1,769 crore as on 30 September 2021 and Rs 2,773 crore as on 30 June 2021. CASA ratio was at 22% as on 30 September 2022 as against 16% as on 30 September 2021 and 20% as on 30 June 2021.

Global Markets:

US Dow Jones index futures were up 6 points, indicating a flat opening in the US stock market today.

European shares declined while most Asian markets were in the red. Higher commodity prices and rising bond yields weighed on stocks.

US stocks declined on Monday as investors looked at surging oil prices, economic worries and major earnings results lined up ahead.

Goldman on Monday lowered its 2022 growth estimate for US to 4% from 4.4% and took its 2021 estimate down a tick to 5.6% from 5.7%. The firm cited the expiration of fiscal support from Congress and a slower-than-expected recovery in consumer spending, specifically services.

As per the provisional closing data, the barometer index, the S&P BSE Sensex, ended 76.12 points or 0.13% higher at 60,135.78. The Nifty 50 index added 50.75 points or 0.28% to 17,945.95.

The broader market outperformed the benchmark indices. The S&P BSE Mid-Cap index rose 0.55% while the S&P BSE Small-Cap index gained 0.6%.

The market breadth was positive. On the BSE, 1958 shares rose and 1473 shares fell. A total of 161 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 237,878,939 with 4,851,945 deaths. India reported 227,347 active cases of COVID-19 infection and 450,782 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.

In last 24 hours, India recorded 18,132 new cases. The recovery rate currently stands at 98.00%, highest since March 2020. There were 21,563 recoveries in the last 24 hours taking the total recoveries to 3,32,93,478

New Listing:

Shares of Aditya Birla Sun Life AMC were currently trading at Rs 697.1 apiece at 15:29 IST on the BSE, at a discount of 2.09% as compared to the issue price of Rs 712 per share. The scrip was listed at its issue price of Rs 712 per share. So far, it has hit a high of Rs 721 and a low of Rs 696 in the trading session. On the BSE, over 6.71 lakh shares of the company changed hands in the counter. The initial public offer (IPO) of Aditya Birla Sun Life AMC received bids for 14.59 crore shares as against 2.77 crore shares on offer. The issue was subscribed 5.25 times. The issue opened for bidding on Wednesday (29 September 2021) and it closed on Friday (1 October 2021). The price band of the IPO was fixed at Rs 695-712 per share.

Results Today:

Delta Corp (down 0.2%), Krsnaa Diagnostics (down 1.41%) and Tata Metaliks (up 1.09%) are some of the companies that will announce their quarterly results today.

Stocks in Spotlight:

TCS slumped 6.26%. The company's consolidated net profit rose 6.84% to Rs 9,624 crore on 3.21% increase in net sales to Rs 46,867 crore in Q2 FY22 over Q1 FY22. Constant currency revenue grew 15.5% YoY. Operating margin fell 0.6% YoY and it rose 0.1% quarter-on-quarter (QoQ) to 25.6% in Q2 FY22. All verticals showed strong, double-digit YoY growth. Growth was led by the manufacturing vertical (+21.7%), followed by life sciences and healthcare (+19%), retail and CPG (+18.4%) and BFSI (+17%). Communications & media (+15.6%) and technology & services (+14.8%) witnessed accelerated growth.

Reliance Industries (RIL) fell 0.64%. The company said that its subsidiary will acquire 40% stake in Sterling & Wilson Solar (SWSL) through a combination of primary investment, secondary purchase and open offer. Reliance New Energy Solar (RNESL), a wholly-owned subsidiary of RIL, executed definitive agreements with Shapoorji Pallonji and Company (SPCPL), Khurshed Daruvala and SWSL to acquire 40% stake post-money in SWSL through a series of transactions. SWSL will make a preferential allotment of 2.93 crore equity shares (equivalent to 15.46% post preferential share capital) at Rs 375 per share to RNESL. Further, RNESL will acquire 1.84 crore equity shares from SPCPL (equivalent to 9.70% post preferential share capital) at Rs 375 per share. RNESL will also make an open offer to acquire 4.91 crore equity shares of SWSL at Rs 375 each, representing 25.9%. RNESL will hold 40% of the equity capital of SWSL, consequent to acquisition in the open offer, follow-on acquisition of shares from SPCPL and Khurshed Daruvala, and sell down, if any required. Shares of Sterling & Wilson jumped 11.98% to Rs 486.50 on BSE.

Solar Industries India jumped nearly 3.43% after the company announced that it received orders worth Rs 1,471 crore from Coal India (CIL) to supply bulk explosives over a period of two years.

Power Mech Projects rose 6.15% after the company said it received two letter of intent worth Rs 448.60 crore. The first order worth Rs 391 crore is from Coastal Energen. The order calls for operation & maintenance of 2X660 MW Mutiara Thermal Power Plant in Tuticorin (Tamil Nadu). The second order worth Rs 57.60 crore is from NMDC. The order is for miscellaneous civil works for screening plant-III at Kirandul in Chattisgarh.

Saregama India hit an upper circuit limit of 5% to Rs 4216.80 after the company's consolidated net profit rose 16.87% to Rs 33.80 crore on 34.21% increase in net sales to Rs 145.09 crore in Q2 FY22 over Q2 FY21 The company's operating income before content charge, interest and depreciation (OIBCID) jumped 38% to Rs 53.50 crore in Q2 FY22 from Rs 38.70 crore in corresponding quarter last year. During the period under review, the company's revenues from music business jumped 21% to Rs 121.58 crore. Its revenues from TV & films division surged 238% to Rs 22.35 crore. The firm's revenues from publication division rose 9% to Rs 1.16 crore.

GOCL Corporation hit an upper circuit limit of 20% to Rs 328.50 after the company said that its wholly-owned subsidiary, IDL Explosives, has bagged an order worth Rs 592.45 crore from Coal India. The order is for supplying bulk explosives over a period of 2 years.

GMR Infrastructure jumped 8.75% on reports that GMR Group will invest Rs 6,300 crore in Hyderabad's Rajiv Gandhi International Airport to expand the aerodrome's capacity to 34 million passengers per annum by 2024. The media reported that funds for the expansion have been secured and most part of the finance is through bonds issuance.

Tata Motors surged 8.88% after a foreign brokerage reportedly maintained its 'overweight' stance on the stock with a target price of Rs 448. The Tata Motors stock hit a 52-week high of Rs 420.40 in intraday today.

JSW Steel rose 1.17% after the company reported group combined crude steel production at 5.07 million tonnes for Q2 FY22, up by 29% from 3.92 million tonnes recorded in Q2 FY21. On a sequential basis, the growth in crude steel production has, however, remained flat. The crude steel production includes the production at jointly controlled entities viz. Bhushan Power & Steel (BPSL) and JSW Ispat Special Products (JISPL). JSW Steel said that the capacity utilization at standalone level was at 91% in Q2 FY22.

Jubilant Ingrevia fell 0.17%. The company said that it will acquire of 26.60% stake in AMP Energy Green Fifteen for Rs 5.11 crore for putting up the solar power plant with capacity of 15.5 MW under captive scheme. The acquisition will help the company to meet the green energy needs and optimize energy cost and to comply with the regulatory requirement for captive power consumption under the electricity laws. It is expected to be completed in six months.

Bandhan Bank fell 5.2%. The micro finance lender said its collection efficiency improved to 90% at the end September 2021 from 80% three months back. Bandhan Bank's repayment collection from Emerging Entrepreneurs Business (EEB) microfinance vertical also improved to 86% at the end September 2021 from 72% as on June 2021. The bank's loans & advances rose 7% year-on-year (YoY) to Rs 81,668 crore as on 30 September 2021. Total deposits jumped 24% to Rs 81,898 crore in the same period. Loans & advances as on 30 September 2021 are before considering write-offs, if any, the bank said. Retail deposits (including CASA) rose 35% YoY to Rs 68,787 crore as on 30 September 2021. CASA ratio stood at 44.6% as on 30 September 2021 compared with 42.9% as on 30 June 2021 and 38.2% as on 30 September 2020.

Global Markets:

Most European markets were trading mixed while Asian stocks closed on a mixed note on Monday as investors monitored inflation expectations and U.S Treasury yields, which jumped to multi-month highs on Friday.

Travel stocks in Singapore surged after Singapore authorities announced over the weekend that more vaccinated travel lanes are set to open with 8 more countries. Markets in South Korea are closed on Monday for a holiday.

US stock indexes ended lower Friday with technology stocks under pressure as bond yields rose after a monthly report on the labor market came in much weaker than expected.

The Labor Department's nonfarm payrolls report showed the US economy in September created the fewest jobs in nine months as hiring dropped at schools and some businesses were short of workers. The report said non-farm payroll employment rose by 194,000 jobs in September after climbing by an upwardly revised 366,000 jobs in August.

Despite the much weaker than expected job growth, the unemployment rate fell to 4.8% in September from 5.2% in August.

The domestic equity benchmarks ended with strong gains on Friday. The Nifty closed tad below the 17,900 mark. As per provisional closing data, the barometer index, the S&P BSE Sensex, advanced 381.23 points or 0.64% to 60,059.06. The Nifty 50 index added 104.85 points or 0.59% to 17,895.20.

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, slumped 3.11% to 15.65.

In the broader market, the S&P BSE Mid-Cap index rose 0.15% while the S&P BSE Small-Cap index gained 0.83%.

The market breadth was positive. On the BSE, 1870 shares rose and 1431 shares fell. A total of 152 shares were unchanged.

The Reserve Bank of India (RBI)'s six-member Monetary Policy Committee (MPC) at its meeting today (8 October 2021) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 4%. The reverse repo rate under the LAF remains unchanged at 3.35% and the marginal standing facility (MSF) rate and the bank rate at 4.25%.

The MPC also decided to continue with the accommodative stance as long as necessary to revive and sustain growth on a durable basis and continue to mitigate the impact of COVID-19 on the economy, while ensuring that inflation remains within the target going forward.

These decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2%, while supporting growth, RBI statement said.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 236,748,936 with 4,834,268 deaths. India reported 240,221 active cases of COVID-19 infection and 450,127 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.

A total of 93,11,77,197 COVID-19 vaccine doses have been administered in the country so far, with over 50.03 lakh doses being given yesterday, according to the Co-WIN dashboard.

Buzzing Segment:

Shares of five hotel companies advanced after the Union Government announced its decision to start the issue of tourist visas from 15 October 2021.

The Central Government had been receiving representations from several State Governments as well as various stakeholders in the tourism sector to start Tourist Visas also, to allow foreign tourists to come to India.

On Thursday, the Ministry of Home Affairs (MHA) said that it has decided to begin granting of fresh tourist visas for foreigners coming to India through chartered flights with effect from 15 October 2021. Foreign tourists entering into India by flights other than chartered aircraft would be able to do so only with effect from 15 November 2021 on fresh Tourist Visas.

As per media reports, the Indian hotel industry is witnessing a consistent and rapid recovery in occupancies after a dull period amid the second wave of COVID-19. Further, a recovery in the business travel and permitting foreign tourist to travel in India would further give a boost to the occupancies in the quarters ahead, media reports said.

Lemon Tree Hotels (up 6.45%), Royal Orchid Hotels (up 3.42%), EIH (up 3.95%), Taj GVK Hotels & Resorts (up 1.70%) and Indian Hotels Company (up 1.24%) advanced.

Stocks in Spotlight:

Tata Consultancy Services rose 1.04% to Rs 3,933.20. The IT major will announce its September 2021 quarter earnings today, 8 October 2021.

Reliance Industries added 3.81% to Rs 2,670.35. RIL on Thursday announced the launch of its premium retail destination, Jio World Drive (JWD), in Mumbai's commercial epicenter, Bandra Kurla Complex. It will be home to prominent international and Indian brands, 27 culinary outlets, Mumbai's first rooftop Jio Drive-In Theatre, an open-air weekend community market, pet-friendly services, a dedicated pop-up experience and other services.

JSW Energy gained 1.24% to Rs 383.90. The company has signed a contract with GE Renewable Energy for supply of 810 MW of onshore wind turbines for the company's underconstruction pipeline of approximately 2.5 GW of renewable projects in India. The supply of the turbines will start by the second quarter of CY2022.

K P I Global Infrastructure jumped 7.18% to Rs 138.10. The company informed that it signed a new long-term Power Purchase Agreement (PPA) with GHCL, Bhilad for sale of 1.25 MW solar power for a period of 20 years under Independent Power Producer (IPP) business vertical.

Tata Motors rose 1.55% to Rs 382.35. A media report said the auto major is seeking to buy Ford's units in Tamil Nadu and Gujarat states. According to reports, Ford's manufacturing plants could help Tata Motors augment capacity as it focuses on eco-friendly vehicles. While Tata Motors has no manufacturing facility in Tamil Nadu, it has a plant in Gujarat, which is next to Ford's production unit, reports said.

Separately, the media reported that TPG is in advanced talks with the Tata group to invest $1 billion-$1.5 billion in its electric vehicle unit. The group is also in talks with several Middle East-based sovereign wealth funds (SWFs) such as Abu Dhabi Investment Authority and Saudi Arabia's PIF to come as anchor investors on the deal, the report added.

Zee Entertainment Enterprises added 0.20% to Rs 293.30. As per media reports, the National Company Law Appellate Tribunal (NCLAT) on Thursday completed the hearing on a petition filed by Zee Entertainment Enterprises (ZEEL) seeking more time to reply to Invesco's demand for convening a shareholders' meeting.

The NCLAT reportedly asked the National Company Law Tribunal (NCLT) to provide “reasonable and sufficient opportunity” to ZEEL to reply to a plea by Invesco seeking a meeting of the company's shareholders. It said the NCLT committed an “error” by not granting reasonable time to ZEEL to reply to Invesco's plea, media reports added.

Bajaj Auto shed 0.36% to Rs 3,814.65. the auto maker said that has resigned from the position of chief financial officer of the company to explore other opportunities. The same has been accepted by the company. His last date in the company will be 20 December 2021. The company further added that it is in the process of identifying and appointing a suitable person for the said position.

Multi Commodity Exchange of India jumped 5.90% to Rs 1,930. On the BSE, over 3.34 lakh shares of the company were traded in the counter so far as against an average trading volume of 0.61 lakh shares.

The Power Ministry said on Thursday said that the resolution of the jurisdiction issue between market regulator SEBI and electricity regulator CERC will further deepen the power market and pave the way for the introduction of longer duration delivery-based contracts on exchanges.

The resolution has opened the gate for introduction of longer duration delivery-based contracts on the power exchanges which has been currently restricted to only 11 days due to the pendency of the case, the ministry informed. This will further deepen the power market from the present level of approx. 5.5% of the volume to the targeted volume of 25$ by 2024-25.

The commodity exchanges viz. MCX etc. can now introduce financial products viz. electricity futures etc. which will enable discoms and other large consumers to effectively hedge their risks of power procurement, it stated.

Global markets:

Most European shares declined while most Asian stocks advanced. Chinese stocks jumped on the first day of trade after a week-long holiday.

Investors eyed key US jobs data for any fresh insight into the timing of Federal Reserve tapering.

Activity in China's services sector returned to growth in September as a major COVID-19 outbreak in the eastern province of Jiangsu receded, a private-sector survey showed on October 8. The Caixin/Markit services Purchasing Managers' Index (PMI) rose to 53.4 from 46.7 in August.

US stocks rallied on Thursday as Senate leaders moved to avert a US debt default. Senate Majority Leader Chuck Schumer announced Thursday that lawmakers have reached a deal on a short-term debt ceiling increase after hours of discussion with Minority Leader Mitch McConnell.

Markets will look ahead to Friday's key September jobs report as the Federal Reserve prepares to slow its $120 billion-per-month bond-buying program.

The domestic equity benchmarks ended with strong gains on Thursday. The Nifty closed tad below the 17,800 mark after hitting the day's high of 17,857.55 in afternoon trade. Traders lapped up shares ahead of RBI's monetary policy outcome and Q2 earnings season that is set to kick off on Friday, 8 October 2021.

As per provisional closing data, the barometer index, the S&P BSE Sensex, advanced 488.10 points or 0.82% to 59,677.83. The Nifty 50 index added 144.35 points or 0.82% to 17,790.35.

In the broader market, the S&P BSE Mid-Cap index rose 1.68% while the S&P BSE Small-Cap index gained 1.38%. Both the indices outpaced the benchmarks.

The market breadth favoured the bulls. On the BSE, 2237 shares rose and 1066 shares fell. A total of 140 shares were unchanged.

The Reserve Bank of India's (RBI) monetary policy committee (MPC) began its two-day policy meet on 6th October 2021. The MPC will announce its interest rate decision on Friday, 8 October 2021.

IT major TCS (up 2.15%) will announce its Q2 results on Friday, 8 October 2021.

Infosys (up 1.04%) will announce Q2 results on Wednesday, 13 October 2021.

Among telecom shares, Bharti Airtel (up 0.20%) advanced while Vodafone Idea (down 1.31%) declined.

The government on Tuesday notified its decision to permit 100% foreign direct investment (FDI) under automatic route in the telecom services sector.

Till now, only 49% of FDI was allowed through the automatic route and anything beyond it had to mandatorily go through the government route.

In a press note, the Department for Promotion of Industry and Internal Trade (DPIIT) said foreign investment in telecom services will be subject to the condition of Press Note 3 of 2020.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 236,467,427 with 4,827,642 deaths. India reported 244,198 active cases of COVID-19 infection and 449,856 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.

A total of 92,58,17,589 COVID-19 vaccine doses have been administered in the country so far, with over 42.91 lakh doses being given yesterday, according to the Co-WIN dashboard.

Buzzing Segment:

Shares of ONGC, GAIL (India) and Oil India corrected after oil witnessed some correction in the international markets after a sharp rally. The correction was triggered by higher than expected U.S. crude stockpiles and comments from Russia, offering to ease a natural gas crisis.

ONGC tumbled 4.46% to Rs 160.60, GAIL (India) fell 3.91% to Rs 159.80 and Oil India slipped 2.38% to Rs 242.40.

U.S. crude inventories expanded by 2.35 million barrels last week, according to government data. U.S. gasoline stockpiles rose by around 3.3 million barrels last week, while distillate inventories slipped by 396,000 barrels, according to data from the Energy Information Administration. Crude supplies at the key storage hub in Cushing, Oklahoma, expanded for a second week.

Russian President Vladimir Putin reportedly said record volumes of natural gas could potentially be exported to Europe this year as the continent faces an energy crunch. Gas prices fell after his remarks.

Oil rallied to the highest since 2014 this week as an energy crunch from Europe to Asia raised the prospect of greater demand for crude and oil products ahead of winter, while OPEC+ said it would restore only a relatively modest amount of supply to the market in November as planned.

The Nifty Oil & Gas index shed 0.27% to 7,995.80.

Stocks in Spotlight:

Titan Company jumped 10.60% to Rs 2,375.35. The company said its jewellery segment revenue jumped 78% year on year (YoY) in Q2 FY22. CaratLane's business revenue jumped 95% year on year in Q2 FY22. The watch segment revenue grew by 73% YoY in Q2 FY22. Eye wear segment revenue surged by 74% YoY in Q2 FY22.

Mahindra & Mahindra (M&M) spurted 5.29% to Rs 878.25. M&M started bookings of its XUV700 model today. The company said it clocked 25,000 bookings in 57 minutes of its booking commencement. Bookings will now reopen starting 10 am on 8th October.Reliance Industries added 0.88% to Rs 2582.80. RIL informed that Reliance Retail Ventures (RRVL) through its wholly owned subsidiary, 7-India Convenience Retail Limited, has entered into a master franchise agreement with 7-Eleven, Inc. for the launch of 7-Eleven convenience stores in India.

Sobha surged 15.87% to Rs 878.85. The company's new sales rose by 50.62% to 13.48 lakh square feet in Q2FY22 versus 8.91 lakh square feet in Q2FY21. Total sales value jumped 49.32% to Rs 1,030.2 crore in Q2 FY22 from Rs 689.9 crore in Q2 FY21. The company achieved best-ever quarterly sales volume of 13.48 lakh square feet of super built-up area. It also achieved best ever Sobha share of sale value of Rs 854.2 crore. Average cost of borrowing has further come down during the quarter.

Macrotech Developers soared 6.09% to Rs 1118.80. The company's pre-sales jumped 109% quarter on quarter and 88% year on year to Rs 2,003 crore in Q2 FY22. Collections grew by 12% quarter on quarter and 73% year on year to Rs 1,912 crore in Q2 FY22. The company's net debt for India business stood at Rs 12,508 crore, which is around the same level as Q1. The company estimates that the net debt will be at Rs 10,000 crore at the end of fiscal year in the India business.

Balaji Amines fell 1.11% to Rs 4589.30. The company said that a small incident took place at the company's unit III demethylformamide (DMF) plant which caused leakages/breakdown. While rectifying this the company added some debottlenecking activities to increase capacity. During this period, the DMF plant will not be in operational.

Kalyan Jewellers India jumped 13.22% to Rs 80.10. The company said it saw continued robust momentum in both footfalls and revenue across all its markets in India and Middle East in Q2 FY22. The jewellery retailer said it witnessed revenue growth of about 60% for its India operations during the recently concluded quarter, as compared to the same period in the previous year. Kalyan's online jewellery platform, Candere, recorded a revenue growth of about 45% during the quarter, compared to the same period during the last year.

NIIT advanced 2.31% to Rs 356.70. Sutherland, a U.S.-based global digital transformation company, and StackRoute, an NIIT Venture, have entered into a partnership to launch an immersive training program designed to identify the right talent and develop them as high-quality full stack IT professionals, handling critical roles at Sutherland.

Ramkrishna Forgings jumped 4.12% to Rs 1150.85. The company signed a Memorandum of Understanding (MoU) with a US based technology partner for the development of electric vehicle powertrain components for the Indian EV market.

Global markets:

US Dow Jones futures were up 200 points, indicating a positive opening in the US stocks.

Shares in Europe and Asia advanced on Thursday. Sentiment turned positive after US stocks staged a comeback from their lows as investors bought the dip in technology names.

Wall Street ended higher on Wednesday as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default.

US private payrolls increased more than expected in September as COVID-19 infections started subsiding, boosting hiring at restaurants and other high-contact businesses. Private payrolls increased by 568,000 jobs last month, the ADP National Employment Report showed. Data for August was revised lower to show 340,000 jobs added instead of the initially reported 374,000.

Investors are awaiting payrolls data due Friday, with investors anticipating that a reasonable figure will mean the US Federal Reserve will begin tapering its massive stimulus programme at its November meeting.

After hovering near the flat line for most part of the session, the domestic equity barometers tumbled in afternoon trade and ended with significant cuts on Wednesday. The Nifty closed below the 17,650 mark. Selling was wide spread with metals, PSU banks, auto stocks declining the most.

As per provisional closing data, the barometer index, the S&P BSE Sensex, plunged 555.15 points or 0.93% to 59,189.73. The Nifty 50 index tumbled 176.30 points or 0.99% to 17,646. The Nifty hit the day's high of 17,884.60 in early trade.

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, jumped 5.70% to 17.33.

In the broader market, the S&P BSE Mid-Cap index fell 1.22% while the S&P BSE Small-Cap index declined 0.55%.

The market breadth was negative. On the BSE, 1441 shares rose and 1841 shares fell. A total of 164 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 235,805,910 with 4,816,244 deaths. India reported 246,687 active cases of COVID-19 infection and 449,538 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.

A total of 92,12,85,696 COVID-19 vaccine doses have been administered in the country so far, with over 59.28 lakh doses being given yesterday, according to the Co-WIN dashboard.

Economy:

Rating agency Moody's Investors Service has upgraded India's sovereign rating outlook to 'stable' from 'negative' citing an ebbing of the risks from COVID-19 and the negative feedback between the real economy and financial system.

While it retained India's rating at Baa3, reflecting the lowest investment grade rating, Moody's said it expects real GDP to surpass pre-pandemic levels of 2019-20 this year itself, as the ongoing economic recovery is picking up steam with activity upticks broadening across sectors. It expects 2021-22 to record 9.3% growth in GDP, followed by 7.9% next year.

Buzzing Index:

The Nifty Metal index fell 3.26% to 5,611.15. The index has declined by 3.38% in two sessions.

National Aluminum Co. (down 5.91%), Vedanta (down 4.36%), Hindalco Industries (down 4.10%), Adani Enterprises (down 3.28%), Tata Steel (down 3.25%), JSW Steel (down 3.22%), SAIL (down 3.05%), Jindal Steel & Power (down 3.03%), NMDC (down 2.49%) and Welspun Corp (down 2.46%) declined.

Stocks in Spotlight:

RBL Bank slumped 4.53% to Rs 184.55. The private sector bank's total deposits rose 17% to Rs 75,588 crore in the quarter ended 30 September 2021 as against Rs 64,506 crore reported in the quarter ended 30 September 2020. Gross advances grew by 1% year on year to Rs 58,046 crore as on 30 September 2021 as against Rs 57,298 crore reported on 30 September 2020.

Hindustan Copper jumped 4.25% to Rs 125.05 on reports that Vedanta Group is open to buying government's stake in the company. Vedanta Group's founder Anil Agarwal told the media that the company will look to bid for buying government's stake in Hindustan Copper as and when the state-owned firm is put up for privatisation. As on 30 June 2021, the Government of India held 72.76% stake in Hindustan Copper.

Coal India fell 2.63% to Rs 192.70. The company's board has accorded in-principle approval to pre-feasibility report for setting up integrated greenfield aluminium project in Odisha which shall include bauxite mining, alumina refinery, aluminium smelter and associated captive power plant by its subsidiary Mahanadi Coalfields.

Marico advanced 0.90% to Rs 562.95. In the India business, the company witnessed healthy consumer sentiment across our categories. Revenue growth in the quarter was in the low twenties, with volume growth close to double-digits on a 2-year CAGR basis. The International business delivered double digit constant currency growth as the company witnessed positive trends in all markets, except Vietnam.

Among key inputs, copra prices corrected further, crude remained firm, while edible oil prices oscillated at higher levels. As a result, the company expects modest bottom line growth in the quarter. Operating margin is expected to contract on a year on year basis.

Bajaj Finance shed 0.08% to Rs 7,718.10. The NBFC major's customer franchise grew 19.7% to 52.8 million as of 30 September 2021 from 44.1 million on 30 September 2020. Consolidated liquidity surplus stood at approximately Rs 16,500 crore as of 30 September 2021.

Assets under management (AUM) grew 21.74% and stood at approximately Rs 166,900 crore as of 30 September 2021 as compared to Rs 137,090 crore as of 30 September 2020. Deposit book stood at approximately Rs 28,700 crore as of 30 September 2021 as compared to Rs 21,669 crore as of 30 September 2020.

Godrej Consumer Products fell 2.50% to Rs 1,018. The FMCG company expects to deliver high single-digit sales growth with another quarter of double-digit two-year CAGR during July-September quarter. During the quarter, demand trends in categories across the key countries remained steady.

India sales growth is expected to be in double-digit during the second quarter, driven largely by volume growth and calibrated price increases. In Indonesia, the company expects a marginal decline in constant currency sales. In Godrej Africa, USA and Middle East, growth momentum continued across key countries of operations. The firm expects sales growth in its Latin America and SAARC businesses to be soft.

Godrej Consumer Products said it expects operating margins to contract during the quarter driven by a lag between the rise in input costs and increase in end consumer pricing.

AU Small Finance Bank lost 0.61% to Rs 1,204.40. Gross advances increased by 5% quarter on quarter and 32% year on year to Rs 36,405 crore as on 30 September 2021. The bank's collection efficiency was 109% in September 2021, 107% in August 2021 and 110% in July 2021.

ICICI Lombard rose 0.46% to Rs 1,555.25. As per the bulk deal data on the BSE, Societe Beaujon sold its entire holding of 1.75 crore shares (3.85%) in ICICI Lombard General Insurance at Rs 1,540.13 per share on Tuesday (5 October 2021). Societe Beaujon is the investment holding company of AXA Group, a French multinational insurance firm.

Force Motors gained 0.63% to Rs 1,491.50. The company's total auto sales surged nearly 37% to 2,240 units while total production increased by 43.74% to 2,159 units in September 2021 over September 2020.

IT major TCS declined 0.56% to Rs 3,812.30. The company said it has extended its partnership with State Bank of India (SBI), India's largest bank, for another five years.

As part of the new contract, TCS will continue to maintain and enhance SBI's application estate around core banking, trade finance, financial reporting,and financial inclusion with new features and functionality. This will support the bank's ability to launch newer offerings and respond to business and regulatory changes.

Global markets:

US Dow Jones index futures were down 368 points, indicating a weak opening in the US stocks today.

European shares declined across the board while Asian stocks ended mostly lower on Wednesday. Mainland Chinese markets remain closed on Wednesday for the holidays.

In US, the major averages rebounded on Tuesday following a technology-centered market rout in the previous session.

In Washington, lawmakers are still trying to agree to raise or suspend the U.S. borrowing limit and avert a dangerous first-ever default on the national debt. The Treasury Department warned last week that lawmakers must address the debt ceiling before October 18 when officials estimate the U.S. will exhaust emergency efforts to honor its bond payments.

Treasury Secretary Janet Yellen said Tuesday she believes the economy would fall into a recession if Congress fails to raise the debt ceiling before a default on the U.S. debt.

Investors are readying for the closely watched jobs report, which will be released on Friday.

The US trade deficit increased to a record $73.3 billion in August as a small gain in exports was swamped by a much larger increase in imports. The Commerce Department reported Tuesday that the monthly trade deficit increased 4.2% in August, rising to an all-time high, surpassing the previous record of $73.2 billion set in June.

The domestic equity benchmarks ended near the day's high on Tuesday. The Nifty closed above the 17,800 mark. Oil & gas, IT, and auto stocks advanced while pharma, metals and realty stocks declined.

As per provisional closing data, the barometer index, the S&P BSE Sensex, jumped 445.56 points or 0.75% to 59,744.88. The Nifty 50 index added 131.05 points or 0.74% to 17,822.30.

After opening with deep cuts, the key equity indices hovered near the flat for first half of the session. The indices picked up steam in afternoon trade and managed to close near the day's high with significant gains.

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 2.01% to 16.40.

In the broader market, the S&P BSE Mid-Cap index rose 0.33% while the S&P BSE Small-Cap index gained 0.54%.

The market breadth was strong. On the BSE, 2081 shares rose and 1202 shares fell. A total of 166 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 235,389,736 with 4,808,886 deaths. India reported 252,902 active cases of COVID-19 infection and 449,260 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.

A total of 91,49,94,809 COVID-19 vaccine doses have been administered in the country so far, with over 72.32 lakh doses being given yesterday, according to the Co-WIN dashboard.

India Services PMI:

The seasonally adjusted India Services Business Activity Index posted 55.2 in September, highlighting a marked increase in output. Despite falling from August's 18-month high of 56.7, the latest reading remained well above its long-run average. Where activity growth was reported, panellists mentioned accommodative market conditions and favourable underlying demand amid the easing of COVID-19 restrictions.

Buzzing Index:

The Nifty Oil & Gas index rose 1.57% to 7,942.20. The index has added 2.12% in three sessions.

ONGC (up 10.81%), Mangalore Refinery and Petrochemicals (up 4.06%), HPCL (up 3.91%), Indian Oil Corporation (up 2.89%), Gujarat Gas (up 2.84%), Reliance Industries (up 2.07%), GAIL (up 1.86%), BPCL (up 1.80%) and Oil India (up 0.48%) advanced.

Concurrently, Petronet LNG (down 1.48%), Mahanagar Gas (down 0.99%) and Indraprastha Gas (down 0.35%) edged lower.

Stocks in Action:

ICICI Lombard General Insurance Company shed 1.91% to Rs 1,546.55. On the BSE, over 1.82 crore shares of the company were traded in the counter so far as against an average trading volume of 0.48 lakh shares in the past two weeks.

On the NSE, over 35.66 lakh shares of the company changed hands in the counter so far as against an average trading volume of 7.34 lakh shares in the past three months.

As per media reports, Societe Beaujon, AXA Group's French investment holding company, was to sell 1.75 crore shares (representing 3.8% stake) of ICICI Lombard.

Shares of Srei Infrastructure Finance were locked in 5% lower circuit at Rs 8.17. The Reserve Bank of India (RBI) on Monday superseded the board of directors of Srei Infrastructure Finance (SIFL) and Srei Equipment Finance (SEFL), wholly owned subsidiary of SIFL, and has appointed Bank of Baroda's former chief general manager Rajneesh Sharma as the administrator.

The RBI also intends to shortly initiate the process of resolution of the above two NBFCs under the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019 and would also apply to the NCLT for appointing the administrator as the insolvency resolution professional.

HFCL hit an upper circuit of 5% at Rs 79. The company has bagged an order amounting to approximately Rs 287.96 crore from RailTel Corporation of India for setting up of secured optical packet switched network for the defence forces.

HDFC Bank added 0.54% to Rs 1,594.00. The private lender's advances aggregated to approximately Rs 11,98,500 crore as of 30 September 2021, rising around 15.4% over Rs 10,38,300 crore as of 30 September 2020. On a sequential basis, advances grew by 4.4% from Rs 11,47,700 crore posted on 30 June 2021.

The bank's deposits aggregated to approximately Rs 14,06,000 crore as of 30 September 2021, recording a growth of around 14.4% over Rs 12,29,300 crore as of 30 September 2020 and a growth of around 4.5% over Rs 13,45,800 crore as of 30 June 2021. The bank's CASA ratio stood at around 47% as of 30 September 2021 as compared to 41.6% as of 30 September 2020 and 45.5% as of 31 June 2021.

IndusInd Bank gained 3.91% to Rs 1,163.60. The bank's total deposits increased by 21% to Rs 2,75,486 crore as of 30 September 2021 from Rs 2,28,279 crore as on 30 September 2020. Net advances of the bank rose by 5% quarter on quarter and 10% year on year to Rs 2,21,821 crore as on 30 September 2021.

JSW Energy rose 2.34% to Rs 389.40. The company has signed a contract with Senvion India to procure 591 MW of wind turbines for its pipeline of renewable energy projects. Supply of the turbines will begin by the second half of 2022.

Rail Vikas Nigam (RVNL) added 2.48% to Rs 30.95. The company has entered into an MoU with Tata Steel. The MoU pertains to the implementation of infrastructure projects either on nomination basis as a deposit work or through the special purpose vehicle (SPV) route.

Vedanta gained 1.54% to Rs 303. The company's aluminum production in the July-September period was 5,70,000 tonnes, up 21% YoY and up 4% QoQ. Zinc mined metal output also climbed 4% YoY while oil and gas output remained flat. Output of saleable steel rose by 13% year-on-year. Integrated saleable silver production declined 25% YoY.

Aurobindo Pharma fell 1.10% to Rs 724.05 after the drug maker confirmed the recall of 2,820 bottles of metroprolol tartrate tables in the US market. Metoprolol is used with or without other medications to treat high blood pressure (hypertension).

The media reported that New Jersey-based Aurobindo Pharma USA Inc, a unit of Aurobindo Pharma, is recalling 2,820 bottles of metoprolol tartrate tablets due to presence of foreign substance: product complaints received for the presence of metal wire in one tablet.

IRCON International jumped 4.77% to Rs 47.25. The company with its JV partner has emerged as the lowest bidder valuing Rs 3429 crore in the tender floated by National High Speed Rail Corporation (NHSRCL) for the design and construction of 18.133 km of viaduct involving Ahmedabad Station and Sabarmati Station and associated works for the project for construction of Mumbai-Ahmedabad High Speed Rail.

BLS International Services rose 2.16% to Rs 271.50. The company said that that its contract with Royal Thai Embassy in New Delhi for visa services has been renewed last week. BLS will be accepting visa applications for Thailand from various cities of India. The company will be providing Thai visa application services along with several value-added services.

Global markets:

European shares advanced while Asian stocks ended mostly higher on Tuesday. Markets in mainland China are closed through Thursday for the Golden Week holidays.

U.S. stock benchmarks tumbled on Monday as concerns about sticker-than-expected inflation grow on rising oil prices. A selloff for stocks deepened Monday, with markets succumbing to pressure in technology and tech-related stocks.

On Monday, the Organization of the Petroleum Exporting Countries (OPEC) and its allies kept their current agreement to gradually raise crude production each month, including a 400,000 barrels a day increase in November.

New orders for US-made goods accelerated in August. The Commerce Department said on Monday that factory orders increased 1.2% in August. Data for July was revised higher to show orders rising 0.7% instead of gaining 0.4% as previously reported.

The key equity indices ended with strong gains on Monday. As per provisional closing data, the barometer index, the S&P BSE Sensex, advanced 533.74 points or 0.91% to 59,299.32. The Nifty 50 index added 159.20 points or 0.91% to 17,691.25.

Value buying emerged after the Sensex fell 2.18% and the Nifty fell 1.81% in the past four trading sessions. Traders lapped up shares ahead of RBI's monetary policy meet and earnings season that is set to kick off this week.

Among the sectoral indices, metals, pharma, PSU banks, realty and media stocks edged higher.

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 2.76% to 16.74.

In the broader market, the S&P BSE Mid-Cap index rose 1.51% while the S&P BSE Small-Cap index gained 1.71%. Both these indices outperformed the Sensex.

Buyers outpaced sellers. On the BSE, 2332 shares rose and 1016 shares fell. A total of 193 shares were unchanged.

The Reserve Bank of India's (RBI) monetary policy committee (MPC) is scheduled to meet during 6th to 8th October 2021. The MPC will announce its interest rate decision on Friday, 8 October 2021.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 233,713,190 with 4,782,640 deaths. India reported 264,458 active cases of COVID-19 infection and 448,997 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.

A total of 90,73,60,198 COVID-19 vaccine doses have been administered in the country so far, with over 23.39 lakh doses being given yesterday, according to the Co-WIN dashboard.

Economy:

Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Piyush Goyal has called upon the NRIs and Indian diaspora to invest in India unhesitatingly. Addressing the Indian People's Forum (IPF) Business Conclave in Dubai on 3 October 2021, Goyal said this is the right time for India's vast expatriate community to invest in their motherland. There is a great opportunity in extraordinary growth in India. Goyal underlined that the 3.4 million strong Indian diaspora in the UAE acts as a bridge between the two countries.

Buzzing Index:

The Nifty Metal index rose 2.99% to 5,807.20. The index has added 3.49% in two sessions.

Hindustan Copper (up 10.47%), National Aluminum Co. (up 9.21%), SAIL (up 4.66%), Adani Enterprises (up 4.53%), Hindalco Industries (up 4.53%), Vedanta (up 4.34%), Jindal Steel & Power (up 3.86%), NMDC (up 3.31%), APL Apollo Tubes (up 2.73%) and Tata Steel (up 1.89%) advanced.

Stocks in Spotlight:

Reliance Industries (RIL) advanced 1.31% to Rs 2555.80. RIL has incorporated a wholly owned subsidiary, Reliance International (RINL), in Abu Dhabi Global Market, United Arab Emirates. The unit will undertake activities relating to, amongst others, trading of crude oil, petroleum products, petrochemicals and agricultural commodities. RINL is yet to commence its business operations.

Bharti Airtel rose 1.35% at Rs 682. The telecom major's rights issue will open on Tuesday, 5 October 2021 and close on Thursday, 21 October 2021.

A total of upto 39,22,87,662 shares will be offered as part of the rights issue. The rights shares will be issued at Rs 535 per fully paid-up share. Eligible investors will receive one share for every 14 shares held as on the record date.

Bharti Airtel will raise upto Rs 20,987.39 crore assuming full subscription and receipt of all call monies with respect to rights equity shares.

NTPC added 3.97% to Rs 145.40 on reports the state-run company expects to raise Rs 15000 crore through initial public offerings in three units. The media reported that the state-run generator plans to sell shares in NTPC Renewable Energy (NREL) within a year. A listing of hydropower unit North Eastern Electric Power Corporation (NEEPCO), which it bought last year, and power trading arm, NTPC Vidyut Vyapar Nigam (NVVN), are planned for early 2024, reports added.

Further, NTPC is also looking to sell its stake in NTPC-SAIL Power Co., a joint venture with Steel Authority of India, for supplying electricity to the steel maker's mills and townships, reports suggested.

Grasim Industries fell 1.86% to Rs 1642.25. The Deputy Commissioner of Income Tax has imposed a capital gain tax on the company of Rs 8,334 crore related to a sale of shares in group firm Aditya Birla Capital during tax assessment year 2018-19. The company said it will take appropriate action against the said order which it believes is against the spirit of tax laws.

Hero MotoCorp added 0.30% to Rs 2855.85. The company dispatched 530,346 units of motorcycles and scooters in the month of September 2021. The company dispatched 7,15,718 units in September 2020.

Eicher Motors fell 1.02% to Rs 2745. The company sold 33,529 motorcycles in September 2021, down from 60,331 motorcycles sold in September 2020.

Coal India advanced 0.64% to Rs 189.80. The company's coal production in September rose 0.4% year-on-year to 40.7 million tonnes (MT) as compared with 40.5 MT recorded in the same period last year. Offtake has improved by 3.6% year-on-year to 48.3 MT in September 2021 from 46.7 MT in September 2020.

Yes Bank rose 1.71% to Rs 13.08. The bank said (provisional) loans & advances rose 3.6% to Rs 172,945 crore as on 30 September 2021 from Rs 166,923 crore as on 30 September 2020. The private bank's deposits increased by 30.1% year on year and 8.2% quarter on quarter to Rs 176,672 crore as on 30 September 2021.

CSB Bank advanced 2.53% to Rs 318.55. The bank said that its total deposits increased 9% to Rs 19,061.62 crore as on 30 September 2021 from Rs 17,468.44 crore as on 30 September 2020. Gross advances increased by 12.09% to Rs 14,304.14 crore as on 30 September 2021 from Rs 12761.80 crore as on 30 September 2020. Advances against Gold & Gold Jewellery, aggregated to Rs 5441.44 crore (up 10.17% YoY) as on 30 September 2021.

Avenue Supermarts added 0.34% to Rs 4250.10. The company said its standalone revenue from operations rose 46.6% to Rs 7,649.64 crore in Q2 September 2021 over Q2 September 2020. The company, which owns and operates retail chain D-Mart, reported a revenue from operations of Rs 5,218.15 crore in the same quarter last year, the company informed in a regulatory filing. In the pre-pandemic Q2 September 2019, Avenue Supermarts reported a revenue of Rs 5,949.01 crore.

Pfizer gained 1.43% to Rs 5,648.85. The company has entered into a business transfer agreement with Mylan Pharmaceuticals to transfer certain primarily off-patent branded and generic established medicines business (Upjohn Business) as a going concern to Mylan for Rs 180.48 crore.

Shares of Adani Green Energy added 2.43% to Rs 1,179 in trade after the company announced the completion the acquisition of SB Energy Holdings in an all-cash deal. The transaction pegs SB Energy India at an enterprise valuation of $3.5 billion (approx. Rs. 26,000 crore) and marks the largest acquisition in the renewable energy sector in India.

SB Energy India has 5 Giga Watt renewable assets across four states in India through its SPVs. The acquisition boosts Adani Green Energy's operational portfolio to 5.4 GW and its overall portfolio to 19.8 GW.

Generic Engineering Construction and Projects jumped 12.22% to Rs 47.75 after the company said it secured new work orders worth Rs 180.38 crore for various institutional projects.

Sona BLW Precision Forgings rose 2.27% to Rs 575.30. The company's wholly-owned subsidiary Sona Comstar eDrive has executed a collaboration agreement with Israel's IRP Nexus Group to develop, manufacture, and supply a magnet-less drive motor and the matching controller for performance two-wheelers and three-wheelers for the global market. The term of the agreement is for seven years.

Global markets:

Most European shares advanced while Asian stocks ended mixed on Monday. Sentiment was dented by concerns surrounding inflation, Federal Reserve tapering and rising interest rates.

Trading in the Hong Kong-listed shares of China Evergrande was halted on Monday as investors continue to monitor the situation surrounding the indebted developer as it faces a maturing bond with little wiggle room for payment. The property giant has missed two bond interest payments in the past weeks.

Investors will look out for the comments from OPEC+ which meets virtually amid a spiral higher in crude prices.

US stocks surged on Friday, boosted by positive economic data, progress in the battle against COVID, and Washington developments on the potential passage of an infrastructure bill.

Merck and Ridgeback Biotherapeutics announced Friday they've developed a drug which reduces the risk of hospitalization or death by around 50% in Covid patients. If authorized by regulatory bodies, the drug could be the first oral antiviral medicine for Covid. The companies plan to seek emergency authorization for the antiviral Covid treatment after the medicine showed “compelling results” in clinical trials.

As per the provisional closing data, the barometer index, the S&P BSE Sensex, was at 58,765.58, down 360.78 points or 0.61%. The Nifty 50 index closed 86 points or 0.49% lower at 17,532.05.

In the broader market, the S&P BSE Mid-Cap index was down 0.11% while the S&P BSE Small-Cap index rose 0.48%.

The market breadth was positive. On the BSE, 1814 shares rose and 1416 shares fell. A total of 178 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 233,713,190 with 4,782,640 deaths. India reported 275,224 active cases of COVID-19 infection and 448,339 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.

In the last 24 hours, India records 26,727 new cases. Active cases accounted for less than 1% of total cases, currently at 0.82%. Active caseload stood at 2,75,224, lowest in 196 days. The recovery rate currently stands at 97.86%, highest since March 2020. The country reported 28,246 recoveries in the last 24 hours taking total recoveries to 3,30,43,144.

A total of 89,08,78,472 COVID-19 vaccine doses have been administered in the country so far, with over 64.26 lakh doses being given yesterday, according to the Co-WIN dashboard.

Economy:

The gross GST revenue collected in the month of September 2021 came at Rs 1,17,010 crore, up by 23% year on year. Of this, CGST is Rs 20,578 crore, SGST is Rs 26,767 crore, IGST is Rs 60,911 crore (including Rs 29,555 crore collected on import of goods) and Cess is Rs 8,754 crore (including Rs 623 crore collected on import of goods).

The government settled Rs 28,812 crore to CGST and Rs 24,140 crore to SGST from IGST as regular settlement. The total revenue of Centre and the states after regular settlements in the month of September 2021 is Rs 49,390 crore for CGST and Rs 50,907 crore for the SGST.

Meanwhile, the government's fiscal deficit stood at Rs 4.68 lakh crore or 31.1% of the budget estimates at the end of August, as per data released by the Controller General of Accounts (CGA) on Thursday. Net tax receipts were Rs 6.45 lakh crore while total expenditure was Rs 12.77 lakh crore, the data showed.

Further, the seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) rose to 53.7 in September, from 52.3 in August, highlighting a stronger expansion in overall business conditions across the sector.

New Listing:

Shares of Paras Defence and Space Technologies were locked in an upper circuit of 5% at Rs 498.75 on the BSE, a premium of 185% as compared with the issue price of Rs 175 per share. The stock was listed at a price of Rs 475 per share, at a premium of 171.43% to the issue price. On the BSE, over 7.53 lakh shares of the company were traded in the counter so far. The initial public offer (IPO) of Paras Defence and Space Technologies received bids for 217.26 crore shares as against 71.40 lakh shares on offer on Friday (24 September 2021). The issue was subscribed 304.26 times. The issue opened for bidding on Tuesday (21 September 2021) and closed on Thursday (23 September 2021). The price band of the IPO was fixed at Rs 165-175 per share.

September Auto Sales:

Tata Motors was down 0.08%. The Tata Group announced that its sales in the domestic & international market for Q2 FY22 stood at 1,71,270 vehicles, up by 55.2% from 1,10,345 units during Q2 FY21. The company's total sales in the domestic market rose by 28% to 59,156 vehicles in September 2021 from 46,129 vehicles in September 2020. Total domestic sales increased by 55% to 1,71,270 vehicles in Q2 FY22 over Q2 FY21.

Maruti Suzuki India fell 2.48% after the company said its total sales declined 46.16% year-on-year to 86,380 units in September 2021. Total sales in the month include domestic sales of 66,415 units (down 55.74% YoY), sales to other OEM of 2,400 units (down 6.54% YoY) and exports of 17,565 units (up 124.21% YoY). The company said its sales volume in September 2021 was adversely impacted due to shortage of electronic components. The company took all possible measures to limit the adverse impact.

Eicher Motors fell 0.75%. The company said that its subsidiary VE Commercial Vehicles (VECV) has sold 6,070 units in September 2021, registering a growth of 73.1% on a YoY basis. The commercial vehicles sales were higher by 26.6% as compared with 4,793 units sold in August 2021. Total domestic sales of Eicher trucks & buses increased 77.8% to 5,226 units.

Ashok Leyland fell 2.5%. The company's total commercial vehicle (CV) sales rose 14% to 9,533 units in September 2021 from 8,332 units in September 2020. The company's CV sales have increased by 2% from 9,360 units sold in August 2021. While the total sales of medium & heavy commercial vehicles (M&HCV) jumped 39% to 5,060 units, sales of light commercial vehicles (LCVs) declined by 5% to 4,473 units in September 2021 over September 2020.

Bajaj Auto rose 0.21%. The company's total auto sales in September 2021 stood at 4,02,021 units, down by 9% from 441,306 units sold in September 2020. The total auto sales were higher by 7.7% as compared with 3,73,270 units sold in August 2021. While the company's domestic sales contracted by 16% to 192,348 units, export sales fell by just 1% to 209,673 units in September 2021 as compared with the same period last year.

Escorts fell 0.79% after the company's total tractor sales declined by 25.6% YoY to 8,816 units in September 2021 from 11,851 units sold in September 2020. Tractor sales of the company's Agri Machinery products segment (EAM) are higher by 54.9% as compared with August 2021. Domestic tractor sales in September 2021 were at 7,975 tractors as against 11,453 tractors in September 2020, registering a degrowth of 30.4% on a YoY basis.

Stocks in Spotlight:

Zee Entertainment Enterprises (ZEEL) lost 2.86%. The company said it will not convene the extraordinary general meeting (EGM) called by Invesco. The company said the decision has been taken in the best interest of the company, shareholders and stakeholders. ZEEL board met today, 1 October 2021, to deliberate the course of action in relation to the requisition notice issued by Invesco Developing Markets Fund and OFI Global China Fund on 11 September 2021. Punit Goenka did not attend, participate, or vote in the board meeting. Based on legal advice from the company's counsel, the ZEEL board unanimously concluded that the requisition notice is not valid, as it suffers from multiples legal infirmities. The board decision came a day after the Mumbai bench of the National Company Law Tribunal (NCLT) directed ZEEL to consider positively the requisition for an extraordinary general meeting (EGM) made by shareholder Invesco under the Companies Act. It also directed ZEEL to comply with section 100 of the Companies Act and posted Invesco's application for compliance on 4 October 2021.

Cummins India fell 7.48% after the Union Power Ministry urged diesel generating (DG) set users to shift to renewable energy in five years. The Union Power Ministry on Thursday issued an amendment to the Draft Electricity (Rights of Consumer) Amendment Rules, 2021. The Ministry has advised consumers using DG sets to shift to a cleaner technology, such as renewable energy with battery storage, in five years. Consumers, who are using the Diesel Generating sets as essential back up power, shall endeavor to shift to cleaner technology such as RE with battery storage etc in five years from the date of the publication of this amendment or as per the timelines given by the State Commission for such replacement based on the reliability of supply by the distribution company in that city, the Ministry notified.

Phillips Carbon Black was down 0.77%. The company launched its QIP issue on Thursday and approved the floor price of Rs 255.85 per share. The floor price is at a discount of 4.31% to Thursday's closing price.

Bank of India rose 2.07%. The state-owned bank on Thursday said it has raised Rs 1,800 crore by issuing Basel-III-compliant bonds on a private placement basis.

GMR Infrastructure soared 7.1% after the airports regulator reportedly allowed GMR Hyderabad International Airport to gradually increase user development fee (UDF) from 1 April 2022. The media reported that the Airports Economic Regulatory Authority has allowed GMR Hyderabad International Airport (GHIAL), which manages Rajiv Gandhi International Airport, to gradually increase UDF on embarking domestic as well as international passengers from 1 April 2022.

G R Infraprojects rose 3.24% after the company received Letter of Award (LoA) for the construction of four/six lane Greenfield Ludhiana - Rupnagar National Highway in Punjab on Hybrid Annuity Mode. The bid project cost is Rs 951 crore and the completion period for the project is 730 days from appointed date. The operation period is set for 15 years from commercial operation date.

Global Markets:

European shares fell across the board while most Asian markets closed in the red on Friday, following an overnight drop on Wall Street.

German inflation hit 4.1% in September 2021, its highest level for 29 years. The data showed that price of energy and food items were the most affected by inflation.

Japan's factory activity grew at the slowest rate in seven months in September as overall output and new orders shrank due to the fallout from the coronavirus pandemic, a survey showed on Friday. The final au Jibun Bank Japan Manufacturing Purchasing Managers' Index (PMI) in September slipped to 51.5 on a seasonally adjusted basis from 52.7 in the previous month.

Wall Street ended sharply lower on Thursday wracked by concerns over COVID-19, inflation fears and budget wrangling in Washington.

Investors were also keeping an eye on Washington as Congress passed a bill that would fund the government through early December. The bill would avert a government shutdown but Congress still has not raised the debt ceiling, which Treasury Secretary Janet Yellen says will be reached on October 18.

Yellen and Fed Chair Jerome Powell testified before the House Financial Services Committee on Thursday. Yellen reiterated her call for Congress to raise the debt ceiling, saying that failure to do so would be “catastrophic.”

A spike in U.S. benchmark bond yields and a strong dollar capped gains in equities. Realty, PSU banks and pharma stocks were in demand while private banks and IT shares declined.

As per the provisional closing data, the barometer index, the S&P BSE Sensex, closed at 59,126.36, down 286.91 points or 0.48%. The Nifty 50 index ended 93.15 points or 0.53% lower at 17,618.15.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index was up 0.33% while the S&P BSE Small-Cap index gained 0.56%.

Buyers outpaced sellers. On the BSE, 1844 shares rose and 1425 shares fell. A total of 155 shares were unchanged.

Trading was volatile as the September 2021 F&O contracts expired today, 30 September 2021.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 233,231,373 with 4,773,860 deaths. India reported 277,020 active cases of COVID-19 infection and 448,062 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.

In the last 24 hours, India added 23,529 new cases. Active cases accounted for less than 1% of total cases, currently at 0.82%. Active caseload stands at 2,77,020; lowest in 195 days. The recovery rate currently stands at 97.85%.

Primary Market:

Aditya Birla Sun Life AMC IPO opened for subscription from Wednesday (29 September) and it will close on Friday (1 October). The company is offering 38,880,000 shares (including anchor portion of 11,080,800 equity shares) in the price band of Rs 695 to Rs 712 per share.

As on 15:20 IST, the IPO received bids for 2.48 crore shares as against 2.77 crore shares on offer. The issue was subscribed 90% so far. The offer comprises of offer for sale comprises sale of 28,50,880 equity shares by Aditya Birla Capital (ABCL) and up to 36,029,120 equity shares by Sun Life AMC. Up to 1,944,000 equity shares have been reserved for allocation to ABCL shareholders. The IPO is a complete offer for sale by existing shareholders and the company will not directly receive any proceeds from the offer.

Stocks in Spotlight:

Indian Overseas Bank (IOB) jumped 10.49% after the Reserve Bank decided to remove the public sector bank from prompt corrective action (PCA) framework, subject to certain conditions and continuous monitoring. The government-backed lender has provided a written commitment to the RBI that it would comply with the norms of minimum regulatory capital, net NPA and leverage ratio on an ongoing basis and has apprised the RBI of the structural and systemic improvements that it has put in place which would help the bank in continuing to meet these commitments.

Max Healthcare Institute gained 1.27% after HDFC Mutual Fund and SBI Mutual Fund acquired stake in the company via bulk deals on Wednesday (29 September 2021). As per the bulk deal data on the NSE, HDFC Mutual Fund and SBI Mutual Fund bought 57 lakh shares (0.59% equity) and 4.28 crore shares (4.44% equity), respectively, in the healthcare company at Rs 350 per share each on Wednesday (29 September 2021). Similarly, Veritas Funds Plc on behalf of Veritas Asian Fund also picked up 52 lakh equity shares (0.54% equity) in Max Healthcare Institute at Rs 350 per share, the data showed. Meanwhile, Kayak Investments Holding, one of the promoter entities of Max Healthcare Institute, on Wednesday sold 8.44 crore shares (8.74% equity) of the company for Rs 2,956 crore through open market transactions.

Adani Green Energy rose 1.18%. The company's subsidiary Adani Renewable Energy (MH) signed definitive agreements with Essel Green Energy to acquire 100% economic value in an special purpose vehicle (SPV) that owns 40 MW operating solar project in Odisha. The project has a long-term power purchase agreement (PPA) with Solar Energy Corporation of India (SECI) for Rs 4.235 per unit, with remaining PPA life of about 22 years. The closing of the transaction is subject to customary conditions. The acquisition of the project is at an enterprise valuation of Rs 219 crore.

Tata Consultancy Services slipped 0.27%. The Multi Commodity Exchange India (MCX) selected TCS as the technology solution provider for its growth and transformation journey.

Federal Bank advanced 3.56%. The credit ratings agency CARE Ratings re-affirmed its 'CARE AA; Stable' rating on the bank's Tier II bonds (under Basel III) of Rs 500 crore.

Blue Dart Express rose 0.99%. The logistics company announced that its general price increase, effective from 1 January 2022. The average shipping price increase will be 9.6% as compared to 2021, dependant on the shipping profile.

Persistent Systems jumped 4.78% after the IT company announced it has entered into an agreement to acquire Charlotte, North Carolina-based Software Corporation International (SCI) and its affiliate, Fusion360, and the business of East Brunswick, New Jersey-based Shree Partners including its subsidiary in India.

Global Markets:

European shares edged higher while Asian stocks were mixed on Thursday. China's manufacturing PMI shrank in September 2021 to 49.6 from 50.1 in August 2021. The index contracted unexpectedly due to increased curtailment of electricity usage and rising input prices.

Meanwhile, China's Caixin/Markit manufacturing PMI for the month rose to 50 compared with 49.2 in August.

In China, investors continue to monitor the situation at China Evergrande Group. As per reports, some bondholders did not receive a due coupon payment by the close of Asia business hours on Wednesday.

Wall Street ended firmer on Wednesday in a partial rebound from the previous day's broad sell-off, with remarks from US Federal Reserve Chairman Jerome Powell and the ongoing debt ceiling debate keeping a lid on gains. The S&P 500 index and the Dow Jones Industrial Average advanced, but the Nasdaq Composite closed lower.

Federal Reserve Chair Jerome Powell and his counterparts in Japan, Europe and the U.K. voiced cautious optimism that supply-chain disruptions lifting inflation rates around the world would ultimately prove temporary.

As per the provisional closing data, the barometer index, the S&P BSE Sensex, closed at 59,413.27, down 254.33 points or 0.43%. The Nifty 50 index fell 37.30 points 0.21% to 17,711.30.

Energy stocks rallied as China is facing a severe shortage of both coal and electricity as the economy has resumed strong growth post Covid-induced lockdowns, but coal mine output has failed to keep up with demand.

NTPC (up 6.4%), Coal India (up 6.22%), PowerGrid Corporation of India (up 5.68%), Indian Oil Corporation (up 4%) and Hindalco (up 3.5%) were top gainers in Nifty 50 index.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index was up 0.62% while the S&P BSE Small-Cap index rose 0.4%.

The market breadth was positive. On the BSE, 1920 shares rose and 1310 shares fell. A total of 167 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 232,730,064 with 4,764,388 deaths. India reported 282,520 active cases of COVID-19 infection and 447,751 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.

A total of 87,74,59,487 COVID-19 vaccine doses have been administered in the country so far, with over 53.99 lakh doses being given yesterday, according to the Co-WIN dashboard.

SEBI Framework for Gold And Social Stock Exchanges:

Stock market regulator Securities Exchange Board of India (SEBI) has approved the frameworks for gold exchange and Social Stock Exchange. The market regulator also approved amendments to delisting framework for equity shares at the board meeting held yesterday.

A gold exchange is being set up to trade the yellow metal in the form of electronic gold receipts, which will help in having a transparent domestic spot price discovery mechanism. The instrument representing gold is to be called Electronic Gold Receipt (EGR), and will be having trading, clearing and settlement features akin to other securities.

In a statement, SEBI said the Gold Exchange, encompassing the entire ecosystem of trading of EGR and physical delivery of gold, is expected to create a vibrant gold ecosystem in the country. The Gold Exchange would be a national platform for buying and selling EGRs with underlying standardized gold in India and also create a national pricing structure for gold.

SEBI has also allowed the introduction of silver exchange traded funds (ETFs) in India. The Sebi board approved the amendment to Sebi (Mutual Funds) Regulations, 1996 to enable the introduction of Silver ETFs. These will be in line with the regulatory mechanism for gold ETFs.

Under the creation of Social Stock Exchange (SSE), the SEBI board said it will be used for purpose of fund raising by social entrepreneurs. SSE will be a separate segment of the existing stock exchanges.

Primary Market:

Aditya Birla Sun Life AMC IPO opened for subscription from Wednesday (29 September) and it will close on Friday (1 October). The company is offering 38,880,000 shares (including anchor portion of 11,080,800 equity shares) in the price band of Rs 695 to Rs 712 per share.

As on 15:00 IST, the IPO received bids for 1.03 crore shares as against 2.77 crore shares on offer. The issue was subscribed 0.37 so far.

The offer comprises of offer for sale comprises sale of 28,50,880 equity shares by Aditya Birla Capital (ABCL) and up to 36,029,120 equity shares by Sun Life AMC. Up to 1,944,000 equity shares have been reserved for allocation to ABCL shareholders. The IPO is a complete offer for sale by existing shareholders and the company will not directly receive any proceeds from the offer.

The company expects that listing of the equity shares will enhance visibility and brand image and provide liquidity to shareholders and will also provide a public market for the equity shares in India.

Aditya Birla Sun Life AMC is currently a 51:49 joint venture between Aditya Birla Capital (ABCL) and Sun Life AMC. The company is the fourth largest asset management companies (AMCs) in India by quarterly average asset under management (QAAUM) since September 2011 and its also the largest non-bank affiliated AMC in India since March 2018.

Stocks in Spotlight:

Godrej Properties surged 3.44% after the real estate company said that it has entered into an agreement to redevelop a land parcel in the upscale neighborhood of Wadala, Mumbai. The land parcel is spread across 7.5 acres and this project will offer approximately 0.15 million square meters (approximately 1.6 million square feet) of saleable area comprising primarily of residential apartments of various configurations. The land parcel is situated in a marquee residential location and is in very close proximity to Matunga Five Gardens.

Max Healthcare Institute fell 3.49% after series of bulk deals in early trade. The media reported that Kayak investments Holdings, an affiliate of American private equity major KKR, is selling as much as 6.34 crore shares or 6.57% of Max Healthcare at an indicative price range of Rs 350-369.70 per share, a discount of about 5.3% to the scrip's closing price on Tuesday. The base deal size is Rs 2,220 crore.

HDFC Asset Management Company (HDFC AMC) fell 5.47% after series of bulk deals in early trade. The media reported that promoter Standard Life Investments will sell up to 5% of its stake in HDFC AMC, through a block deal for as much as Rs 3,042 crore. Standard Life is offering a total of 1.06 crore shares in the secondary trade at a floor price of Rs 2,870 each, a discount of 6.69% to the closing price of Rs 3,075.65 on Tuesday.

BLS International Services added 3.17% after the company won the contract with Embassy of Italy in Russia for visa processing for a period of 5 years in partnership. Under the contract, the company is expected to process approx. 1,40,000 applications every year with 20 centres across Russia.

Lupin fell 0.04% after the drug company said that the company has launched Droxidopa capsules in the United States, having received an approval from the United States Food and Drug Administration (US FDA). Droxidopa capsules is a generic equivalent of Northera Capsules of Lundbeck NA.

HCL Technologies was up 1%. The IT company joined the AWS Service Delivery Program and become an AWS Contact Center Intelligence Partner.

Bharti Airtel fell 0.19%. CRISIL upgraded long-term rating on bank loan facilities of Rs 20,000 crore to AA+/Stable from AA/Stable. The rating action reflects continued improvement in Bharti Airtel's operating metrics resulting in healthy financial risk profile.

Global Markets:

The US Dow Jones index futures were up 190 points, indicating a rebound in US market today.

European shares were trading higher on Wednesday. Most Asian stocks declined, following an overnight tumble on Wall Street.

European market attention will be on central banks today with U.S. Federal Reserve Chairman Jerome Powell, European Central Bank President Christine Lagarde, Bank of Japan Governor Haruhiko Kuroda and the Bank of England's Governor Andrew Bailey all speaking at the ECB Forum on Central Banking on Wednesday.

U.S. stocks fell sharply on Tuesday, with tech names dragging down the broader markets as Treasury yields traded near three-month highs and lawmakers in Washington continued their budget stalemate.

Rising bond yields hurt growth stocks because they lower the relative value of future earnings, and make the popular stocks appear overvalued.

Also weighing on sentiment was a budget showdown in Washington. Senate Republicans blocked a House-passed bill Monday that would have funded the government into December and suspended the debt ceiling until December of 2022.

Congress must approve government funding by Friday to avoid a shutdown, and Treasury Secretary Janet Yellen warned Congress in a letter on Tuesday that lawmakers need to raise the debt limit by October 18 to avoid a government default. President Biden's massive infrastructure plan also faces an uncertain future.

As per the provisional closing data, the barometer index, the S&P BSE Sensex, declined 410.28 points or 0.68% to close at 59,667.60. The Nifty 50 index ended 106.5 points or 0.6% lower at 17,748.60.

The sell off was wide spread. The S&P BSE Mid-Cap index was down 0.71% while the S&P BSE Small-Cap index fell 0.62%.

The market breadth was negative. On the BSE, 1512 shares rose and 1743 shares fell. A total of 170 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 232,316,272 with 4,756,251 deaths. India reported 292,206 active cases of COVID-19 infection and 447,373 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.

In the last 24 hours, India reported 18,795 new cases. The country posted less than 20,000 cases after 201 days. Active cases account for less than 1% of total cases, currently at 0.87%; Lowest since March 2020. India's Active caseload stands at 2,92,206; lowest in 192 days.

Stocks in Spotlight:

Gujarat State Fertilizers & Chemicals (GSFC) jumped 3.27% after the Central Board of Indirect Taxes and Customs (CBIC) proposed anti-dumping duty for caprolactam. GSFC had filed an application before the designated authority in accordance with Customs Tariff Act, 1975 for initiation of anti-dumping investigation concerning imports of caprolactam originating in or exported from European Union, Korea RP, Russia and Thailand. The authority, on the basis of prima facie evidence submitted by GSFC, initiated the investigation and recommended an anti-dumping duty.

Paisalo Digital gained 1.43% after the State Bank of India signed a service level agreement with the company for engagement as National Business Correspondent of the bank. Business correspondents are retail agents engaged by banks for providing banking services at various locations. They enable a bank to expand its outreach and offer range of banking services at low cost, as against setting up a brick and mortar branch which may not be viable in all cases.

Websol Energy System jumped 8.34% after its solar module received MNRE approval. he approval has been granted under the list of Approved Module Manufacturer (ALMM) issued by the Government of India. The company has also received approval of its module from Bureau of Indian Standards (BIS) and IEC 61215.

Bharat Heavy Electricals (BHEL) surged 6.85% after the company won an order from Goa Shipyard for supplying upgraded super rapid gun mount (SRGM).

Anupam Rasayan India added nearly 1% after the company announced the signing of a Letter of Intent (LoI) worth Rs 145 crore with existing long-term European multinational customer. The European multinational firm is one of the top ten multinational company across the globe, the company said. The LoI is for supplying a new life science related active ingredient. The company will enter into a long-term contract for next three years to supply this life science related speciality chemical product.

Whirlpool of India rose 0.9% after the company said it entered into agreements to acquire majority stake of Elica PB India. Whirlpool India initially acquired a 49% equity interest in Elica PB India in 2018. It will now acquire an additional 38% equity interest for $57 million to bring its total equity ownership to about 87%.

NTPC rose 3.58% to Rs 131.5 after the company won 1.9 gigawatt (GW) in the auction of CPSU Scheme-II, Tranche-III of 5 GW.

Sun Pharmaceutical Industries gained 3.4%. The drug company announced the launch of a novel formulation in cough management - Chericof 12 (dextromethorphan hydrobromide 30 mg and chlorpheniramine maleate 4 mg) in India. All cough syrups generally give relief for 6-8 hours, and hence a patient has to take it three to four times a day. Frequent dosing often leads to patient inconvenience and non-adherence to follow the regimen, which may compromise the efficacy of the medication.

Global Markets:

Shares in Europe declined while most Asian stocks closed lower on Tuesday, as global investors monitored a spike in U.S. bond yields and Chinese growth concerns.

China is in the grip of a power crunch as a shortage of coal supplies, toughening emissions standards and strong demand from manufacturers and industry have pushed coal prices to record highs and triggered widespread curbs on usage.

Meanwhile, investors are still waiting to find out what will happen to troubled Chinese conglomerate Evergrande and its enormous mountain of debt.

European markets continued to digest the fallout of the German election on Tuesday after the vote on Sunday resulted in more uncertainty for the country. The center-left Social Democratic Party (SPD) gained the largest share of the vote with 25.7% by a slim margin, with Angela Merkel's right-leaning bloc of the Christian Democratic Union and Christian Social Union gaining 24.1% of the vote.

On the data front, German consumer morale for October has brightened unexpectedly, according to the GfK institute's consumer sentiment index, published Tuesday. The survey of around 2,000 Germans climbed to 0.3 points from a revised -1.1 points for September.

US stocks closed mixed Friday as the market fell back under pressure amid concerns relating to China, COVID-19 and U.S. politics.

Eyes will also be on U.S. fiscal policy with the House of Representatives due to vote on a $1 trillion infrastructure bill this week, while a September 30 deadline on funding federal agencies could force the second partial government shutdown in three years.

As per the provisional closing data, the barometer index, the S&P BSE Sensex, was up 29.41 points or 0.05% to 60,077.05. The Nifty 50 index was up 1.9 points at 17,855.4.

In the broader market, the S&P BSE Mid-Cap index ended flat while the S&P BSE Small-Cap index fell 0.13%.

The market breadth was negative. On the BSE, 1643 shares rose and 1704 shares fell. A total of 189 shares were unchanged.

Reliance Industries rose 1.63% to Rs 2523.45. The stock touched the Rs 16-lakh crore market capitalization mark.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 231,820,895 with 4,748,055 deaths. India reported 299,620 active cases of COVID-19 infection and 447,194 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.

In the last 24 hours, India recorded 26,041 new cases of COVID-19. The recovery rate currently stood at 97.78% with 29,621 recoveries in the last 24 hours taking the total recoveries to 3,29,31,972.

A total of 86,27,23,841 COVID-19 vaccine doses have been administered in the country so far, with over 38.02 lakh doses being given yesterday, according to the Co-WIN dashboard.

Economy:

The direct tax collections for the financial year 2021-22, as on 22 September 2021 showed that net collections are at Rs 5,70,568 crore, a year-on-year increase of 74.4%. In the last financial year, the net collection was Rs 3,27,174 crore, a Finance Ministry release stated on 24 September 2021. The net direct tax collection of Rs 5,70,568 crore, includes corporation tax of Rs 3,02,975 crore (net of refund) and personal income tax including security transaction tax (STT) of Rs 2,67,593 crore (net of refund).

The advance tax collection in the second quarter (1 July 2021 to 22 September 2021) of FY 2021-22 is Rs 1,72,071 crore, a growth of 51.50% over Rs 1,13,571 crore in the corresponding period in FY 2020-21. Refunds amounting to Rs 75,111 crore have been issued in the FY 2021-22 so far. The gross collection of direct taxes (before adjusting for refunds) for the FY 2021-22 stands at Rs 6,45,679 crore compared to Rs 4,39,242 crore in the corresponding period of the preceding financial year, registering a growth of 47% over collections of FY 2020-21.

Stocks in Spotlight:

Hindustan Copper fell 0.41%. The Government of India has offered to sell 31,98,646 equity shares to eligible employees of the state-run company at Rs 116 each. In accordance with the approval given by alternative mechanism on 15 September 2021, the Government of India is offering up to 31,98,646 equity shares (0.33% equity) of face value of Rs 5 each to the eligible employees of the company at Rs 116 per equity share. The offer price is 5.17% premium to Hindustan Copper's closing price of Rs 110.30 on Friday, 24 September 2021. The employee OFS shall remain open from 27 September 2021 to 29 September 2021 (both days inclusive).

Patel Engineering 8.48% after the company bagged Rs 1,251 crore, lot-II civil work contract for 500 MW Teesta-VI Hydro Electric Project, Sikkim, from Lanco Teesta Hydro Power, a wholly owned subsidiary of NHPC.

Shares of multiplex operators were in demand after the Maharashtra government on Saturday announced that it will allow cinemas to resume operations in the state after 22 October 2021. PVR jumped 5.26% to Rs 1590.60 and Inox Leisure surged 7.65% at Rs 376.55.

United Breweries fell 3.21% after the Competition Commission of India (CCI) fined the company about Rs 750 crore for indulging in cartelisation in the sale and supply of beer. CCI passed a final order against UBL, SABMiller India (now known as Anheuser Busch InBev India) and Carlsberg India for indulging in cartelisation in the sale and supply of beer in various States and Union Territories in India. Based on evidences, CCI found that the three companies engaged in price co-ordination in Andhra Pradesh, Karnataka, Maharashtra, Odisha, Rajasthan, West Bengal, National Capital Territory of Delhi and the Union Territory of Puducherry. The firms were collectively restricting beer supply in Maharashtra, Odisha and West Bengal. The companies were sharing market in Maharashtra and co-ordinating beer supply to premium institutions in Bengaluru. Further, the fair trade regulator also found co-ordination among UBL and AB InBev for purchase of second-hand bottles.

Sansera Engineering advanced 3.04% after various domestic and global asset managers acquired stake in the company. Abu Dhabi Investment Authority acquired 4.87 lakh shares of the company at an average price of Rs 821.48 per share. Concurrently, Nomura Funds Ireland bought 6 lakh shares of the firm at an average price of Rs 820.10 apiece. Further, IIFL Asset Management and IIFL Mutual Fund together purchased 8.67 lakh shares of Sansera Engineering via bulk deals on the NSE on Friday.

SJVN rose 1.86% after the company said it secured 1000 megawatt Solar PV power project worth Rs 5,500 crore. In an exchange filing, SJVN said it bagged the full quoted capacity of 1000 MW at a viability gap funding (VGF) support of Rs 44.72 lakh per MW by Government of India, through Request for Proposal (RFP) floated by Indian Renewable Energy Development Agency (IREDA).

Container Corporation of India rose 0.45%. The PSU company said that the Ministry of Railways, Government of India, has extended the tenure of the company's chairman and managing director V. Kalyana Rama by two years till 30 September 2023. The CMD's tenure was to end on 30 September 2021, the PSU said.

Biocon fell 0.39% to Rs 358.8 after the company's Malaysian subsidiary received six observations from the US drug regulator. The US Food and Drug Administration (USFDA) conducted an on-site pre-approval inspection (PAI) of Biocon's Malaysian subsidiary Biocon Sdn. Bhd's manufacturing facility for insulin aspart between 13 and 24 September 2021. At the conclusion of the inspection, the agency has issued a Form 483 with a total of 6 observations across drug substance, drug product and devices facilities.

Astrazeneca Pharma India rose 1.26% after the drug company said that it received import and market permission in Form CT-20 from the Drugs Controller General of India (DGCI) for Selumetinib capsule. Selumetinib capsule is indicated for treatment of Pediatric patients 3 years of age and older with neurofibromatosis type 1 (NF1) and who have symptomatic, inoperable plexiform neurofibromas (PN).

NBCC (India) gained 2.59%. after the EPC company said that it has secured a work order for the construction of 2000 social housing at Hulhumale, Male, Maldives on engineering procurement and construction (EPC) basis. The total cost of the project is $130 million, which is approximately Rs 968.50 crore.

Nucleus Software fell 1.62%. The IT company's board on Friday approved a proposal to buyback equity shares worth upto Rs 158.71 crore. The company proposes to buyback upto 22,67,400 equity shares, comprising of 7.81% of the total paid-up equity capital of the company, at Rs 700 per share, for an aggregate amount not exceeding Rs 158.71 crore.

Global Markets:

European markets advanced while Asian stocks ended mixed on Monday, with investors monitoring stocks related to embattled developer China Evergrande Group.

In Germany, preliminary results on Monday morning showed the center-left Social Democratic Party gaining the largest share of the vote with 25.8%. Angela Merkel's right-leaning bloc of the Christian Democratic Union and Christian Social Union was seen with 24.1% of the vote. But coalition negotiations, which could begin on Monday, are likely to take weeks or even months.

European Central Bank President Christine Lagarde today will deliver a statement to a European Parliament committee.

US stocks closed mixed Friday as the market fell back under pressure amid concerns relating to China, COVID-19 and U.S. politics.

Eyes will also be on U.S. fiscal policy with the House of Representatives due to vote on a $1 trillion infrastructure bill this week, while a September 30 deadline on funding federal agencies could force the second partial government shutdown in three years.

Elsewhere, early projections on Sunday pointed to a knife-edge result in Germany federal elections as the country looks for a successor to Angela Merkel, who is preparing to leave office after 16 years in power.

The domestic equity benchmarks ended with modest gains on Friday. The Nifty closed a tad above the 17,850 mark. IT shares advanced after Accenture announced strong Q4 earnings. Autos, banks, and realty stocks advanced while metals, FMCG and media stocks witnessed selling.

As per provisional closing data, the barometer index, the S&P BSE Sensex, added 163.11 points or 0.27% to 60,048.47. The Nifty 50 index gained 30.25 points or 0.17% to 17,853.20.

The Sensex hit a record high of 60,333 while the Nifty hit an all-time high of 17,947.65 in morning trade.

The broader market indices underperformed the benchmarks. The S&P BSE Mid-Cap index fell 1.16%. The S&P BSE Small-Cap index shed 0.30%.

Sellers outnumbered buyers. On the BSE, 1341 shares rose and 1922 shares fell. A total of 159 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 23,06,19,562 with 47,29,061 deaths. India reported 3,00,162 active cases of COVID-19 infection and 4,46,368 deaths while 3,28,48,273 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

A total of 84,09,03,125 COVID-19 vaccine doses have been administered in the country so far, with over 72.01 lakh doses being given yesterday, according to the Co-WIN dashboard.

Economy:

The Reserve Bank of India (RBI) Governor Shaktikanta Das said that there are signs that the world is emerging from the shadow of coronavirus. While delivering the keynote address at the 48th National Management Convention of the All India Management Association, Das said the time is right to plan for an economy that is stronger, more inclusive and sustainable.

Stating that the pandemic has provided a new impetus to technology-driven companies such as fintech, edtech and health tech, RBI Governor Shaktikanta Das said the forces of 'creative destruction' are expected to boost productivity by encouraging greater competition, dynamism and innovation in several sectors of the economy.

Talking about the achievements of India's manufacturing sector, Das said the country has turned from being an importer to an exporter of mobile phones. He said the trend is likely to spill over to other sectors also; enhancing India's share in the Global Value Chain and increasing the competitiveness of India's large and Micro, Small and Medium Enterprises.

However, warning of uneven global recovery, the RBI Governor said multilateralism will lose credibility if it fails to ensure equitable access to vaccines across countries. He added that securing the health and immunity of the poor would mean a great leap towards inclusive growth.

New Listings:

Shares of Sansera Engineering ended at Rs 818.95 on the BSE, at a premium of 10.07% as compared with the issue price of Rs 744 per share. The scrip was listed at Rs 811.35, a premium of 9.05% to the initial public offer (IPO) price.

The stock has hit a high of 842 and a low of 800.80 so far in the trading session. More than 11.41 lakh shares of the company changed hands in the counter so far on the BSE.

The IPO of Sansera Engineering opened for bidding on 14 September 2021 and closed on 16 September 2021. The price band of the IPO was Rs 734-744 per share.

The IPO received bids for 13.88 crore shares as against 1.21 crore shares on offer. The issue was subscribed 11.47 times.

Sansera Engineering is an engineering-led integrated manufacturer of complex and critical precision engineered components across automotive and non-automotive sectors.

Buzzing Index:

The Nifty IT index rose 0.82% to 37,117.85, extending gains for fourth consecutive session. The index has added 4.85% in four sessions.

Larsen & Toubro Infotech (up 3.40%), HCL Tech (up 2.09%), Infosys (up 1.23%), MindTree (up 1.22%), Mphasis (up 0.85%), Coforge (up 0.25%), TCS (up 0.20%) and Wipro (up 0.16%), while Tech Mahindra (down 0.53%) declined.

Most IT stocks were in demand after Accenture announced strong earnings for the fourth quarter.

Accenture Plc.'s revenue increased 24% year-on-year to $13.42 billion in the quarter nded August. For the full fiscal, revenue rose 14% over the preceding year to $50.5 billion.

Accenture expects revenues for the first quarter of fiscal 2022 to be in the range of $13.90 billion to $14.35 billion, an increase of 18% to 22% in local currency, reflecting the company's assumption of a positive 0.5% foreign-exchange impact compared with the first quarter of fiscal 2021. For fiscal 2022, the company expects revenue growth to be in the range of 12% to 15% in local currency.

Stocks in Spotlight:

Cadila Healthcare shed 0.46% to Rs 564.30. The U.S.-based subsidiary of Cadila Healthcare, Zydus Pharmaceuticals received the final approval from the U.S.-based drug regulator, United States Food and Drug Administration to market Apremilast tablets in the strengths of 10 mg, 20 mg, 30 mg. The tablets are indicated for the treatment of adult patients with moderate to severe plaque psoriasis who are candidates for phototherapy or systemic therapy.

Shilpa Medicare fell 2.29% lower at Rs 559. The company said that it has entered into a definitive agreement with Cadila Healthcare for production and supply of the ZyCov-D vaccine drug from its integrated biologics R&D center at Dharwad, Karnataka. Under the agreement, Shilpa Biologicals, wholly owned subsidiary of Shilpa Medicare, will be responsible for manufacture of the drug substance of the vaccine, while Cadila Healthcare will be responsible for filling, packaging, distribution and marketing of the vaccine in its territories.

UltraTech Cement slipped 1.23% to Rs 7522.90. The company plans to meet 100% of its electricity requirement through renewables sources by 2050. It has committed to Climate Group's RE100 initiative at Climate Week NYC 2021.

Vedanta declined 2.28% at Rs 293.15. The company said that it will delist its American Depositary Shares (ADSs) from the New York Stock Exchange and terminate its American Depositary Share program.

The company's board of directors has taken into account the recent low trading volume of its ADSs on the NYSE and the associated costs of maintaining the listing and related obligations. The company intends to file a Form 25 with the SEC on or about 29 October 2021, to delist ADSs, which will take effect in 10 days.

IRCON International rose 2.69% to Rs 45.75. The company has won a bid to set-up 500 MW solar power plant through e-reverse auction with a viability gap funding (VGF) of Rs 224.70 crore under CPSU Scheme-II floated by Indian Renewable Energy Development Agency (IREDA). The approximate cost of the project is Rs 2400 crore.

PVR dropped 3.62% to Rs 1510.75. CRISIL has downgraded long term credit rating on PVR's bank loan facilities to A+/Negative from AA-/Negative, and short term rating to A1 from A1+.

Dilip Buildcon advanced 3.38% to Rs 572.75. The Supreme Court of India has in effect confirmed appointment of Dilip Buildcon (DBL) & VPR Mining Infrastructure (VPR), as the mine developer cum operator, by Punjab State Power Corporation at the Pachhwara Central Coal Block Mine. The total contract value of the tender is Rs. 32,156.04 crore (excluding taxes).

Global Markets:

European stocks declined across the board on Friday, 24 September 2021, as investors reacted to central bank policy decisions and monitor developments surrounding China Evergrande Group.

Meanwhile, the Bank of England on Thursday maintained its stimulus amount and record-low interest rate, even as it warned that UK annual inflation would top four percent this year. The BoE 's nine-strong monetary policy committee (MPC) voted unanimously to hold its key borrowing cost at 0.1%. Policymakers reportedly voted 7-2 in favour of keeping its so-called quantitative easing stimulus at almost £900 billion ($1.2 trillion, 1.0 trillion euros).

The European Central Bank President Christine Lagarde told the media that she believes Europe's direct exposure to the embattled Chinese property company Evergrande would be “limited.”

Most Asian stocks declined on Friday. Investors breathed a sigh of relief as concerns over China Evergrande's debt woes receded somewhat. It, however, remains unclear if and how the developer will pay the more than $300 billion of liabilities that it owes.

U.S. stocks rallied on Thursday as they staged a two-day relief rally after the Federal Reserve signaled no imminent removal of its ultra-easy monetary policy. Investors also bet that the debt crisis of China's real estate giant Evergrande wouldn't trigger a ripple effect across global markets.

The number of Americans applying for unemployment aid rose last week for a second straight week to 351,000, a sign that the delta variant of the coronavirus may be disrupting the job market's recovery, at least temporarily.

The domestic equity barometers ended near the day's high after a strong session on Thursday. The Nifty closed above the 17,800 mark. Realty and housing finance stocks surged today.

As per provisional closing data, the barometer index, the S&P BSE Sensex, surged 958.03 points or 1.63% to 59,885.36. The Nifty 50 index advanced 280.05 points or 1.60% to 17,826.70.

The S&P BSE Sensex hit a record high of 59,957.25 in mid-afternoon trade. The Nifty was trading near its all-time high of 17,843.90.

The broader market indices lagged the benchmarks. The S&P BSE Mid-Cap index rose 1.31%. The S&P BSE Small-Cap index gained 0.93%.

Buyers outpaced sellers. On the BSE, 1974 shares rose and 1265 shares fell. A total of 164 shares were unchanged.

Investors cheered the U.S. Federal Reserve's decision to keep interest rates unchanged Wednesday. The central bank signaled that it would trim its monthly bond-buying program before year-end.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 23,00,90,110 with 47,19,197 deaths. India reported 3,01,640 active cases of COVID-19 infection and 4,46,050 deaths while 3,28,15,731 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

A total of 83,34,67,089 COVID-19 vaccine doses have been administered in the country so far, with over 71.21 lakh doses being given yesterday, according to the Co-WIN dashboard.

Economy:

India has attracted Foreign Direct Investment (FDI) inflow of $27.37 billion during first four months of this financial year which is 62% higher as compared to corresponding period last financial year.

Commerce and Industry Ministry said the measures taken by the government on the fronts of FDI policy reforms, investment facilitation and ease of doing business have resulted in increased FDI inflows into the country. The Ministry said FDI equity inflow also grew by 112% in the first four months of this financial year compared to same period last year.

Automobile Industry' has emerged as the top sector with 23% share of the total FDI equity inflow followed by computer software and hardware with 18% and services sector at 10%.

Meanwhile, the Bhartiya Janta Party (BJP) today said the Indian economy is on recovery path and government has taken several new initiatives which will further boost the economy. Briefing media in New Delhi, party spokesperson Gopal Krishna Agarwal said the labour force participation has increased to 40.1% in 2019 -20. Agarwal said direct tax collection has also increased by 28% as compared to pre COVID period. He added that indirect tax collection has also increased along with export.

Further, Agarwal added that India's ranking in Global Innovation Index has improved to 46 as compared to 81 in 2015.

Primary Market:

Paras Defence and Space Technologies IPO opened for subscription from Tuesday (21 September) and it will close on Thursday (23 September).

The offer comprises of a fresh issue of up to Rs 140.60 crore and an offer for sale of up to 17,24,490 equity shares (including anchor portion of 29,27,485 equity shares) in the price band of Rs 165 to Rs 175 per share.

As on 15:24 IST, the IPO received bids for 196.93 crore shares as against 71.40 lakh shares on offer. The issue was subscribed 275.80 times so far.

The company intends to utilize the net proceeds from the fresh issue towards purchase of machinery and equipment amounting Rs 34.657 crore, funding incremental working capital requirements amounting Rs 60 crore, repayment or prepayment of all or certain borrowings amounting Rs 12 crore and for general corporate purposes. As of 31 July 2021, its aggregate outstanding indebtedness was Rs 115.827 crore.

Paras Defence and Space Technologies is primarily engaged in designing, developing, manufacturing and testing of a wide range of defence and space engineering products and solutions.

Buzzing Index:

The Nifty Realty index surged 8.49% to 493.15, extending gains for third day. The index has added 21.86% in three sessions.

Oberoi Realty (up 13.85%), Godrej Properties (up 11.48%), DLF (up 9.09%), Sobha Developers (up 8.44%) and Hemisphere Properties India (up 8.65%) were the top index gainers.

Concurrently, Indiabulls Real Estate (up 5.85%), Prestige Estates (up 5.83%), Sunteck Realty (up 5.43%), Brigade Enterprises (up 3.51%) and The Phoenix Mills (up 1.08%) edged higher.

Real estate developers are likely to post record sales booking numbers in the second half of the financial year 2021-22 led by new launches as the momentum of robust response from homebuyers witnessed so far is expected to be continued during the festive October-December quarter, a domestic brokerage reportedly said in a report.

Stocks in Spotlight:

The Telecom Regulatory Authority of India (TRAI) released the telecom subscription data for July 2021 on Thursday, 23 September 2021.

India's total mobile users rose 0.51% month-on-month to 118.68 crore as of 31 July 2021.

Reliance Jio added 65.18 lakh new subscribers in the month of July 2021 and its total subscriber based stood at 44.32 crore. Reliance Industries (RIL), which controls Reliance Jio, was up 2.45%.

Bharti Airtel (down 0.17%) added 19.42 lakh new subscribers in the month of July 2021 and its total subscriber based stood at 35.40 crore.

Vodafone Idea (up 2.31%) lost 14.30 lakh new subscribers in the month of July 2021 and its total subscriber based stood at 27.19 crore.

Separately, Bharti Airtel said its rights issue will open on Tuesday, 5 October 2021 and close on Thursday, 21 October 2021. A total of upto 39,22,87,662 shares will be offered as part of the rights issue, the company's special committee of directors for rights issue decided at its meeting held on Wednesday, 22 September 2021.

The rights shares will be issued at a price of Rs 535 per fully paid-up share. Eligible investors will receive one share for every 14 shares held as on the record date. The telecom major has fixed 28 September 2021 as the record date for rights entitlement in the issue.

The company will raise upto Rs 20,987.39 crore assuming full subscription and receipt of all call monies with respect to rights equity shares.

Jindal Steel & Power (JSPL) gained 1.31% to Rs 370.85. The company received grant of mining lease from the Government of Odisha for Kasia Iron & dolomite mine. The company has been declared as the preferred bidder for the mine at a premium of 118.10%.

The Kasia Mine has a large resource of 278 million tonnes of iron ore and it consists of an average Fe grade of approx. 62.5%. The mine has favourable lumps to the fine ratio of 20:80. The mine also has an Environmental Clearance (EC) of 7.5 MTPA.

Tejas Networks was locked in an upper circuit of 5% at Rs 414.8 after the company on Thursday announced that it has been selected by Bharti Airtel to enhance the telecom operator's optical network capacity in metropolitan markets.

JBM Auto surged 12.61% to Rs 517.45 after the commercial vehicle manufacturer received orders for supply of five hundred CNG/ Electric Buses.

On the BSE, 94,500 shares were traded in the counter so far compared with average daily volumes of 5,286 shares in the past two weeks. The stock hit a high of Rs 537 and a low of Rs 463.45 so far during the day.

IDFC shed 0.90% at Rs 55.15. Shareholders of IDFC have rejected the proposal to re-appoint Vinod Rai as non-independent and non-executive director to the board. Vinod Rai is currently the non-executive chairman of IDFC and his term ended on 30 July 2021.

The resolution for appointment of Rai till 22 May 2023 was rejected as 62.3% shareholders voted against it. While 37.7% shareholders voted in favour, according to the information shared with the stock exchanges on 22 September 2021 post the 24th annual general meeting of the firm.

Housing Development Finance Corporation rose 3.41% to Rs 2819. The counter registered volume of 17.08 lakh shares, a 28.95 times spurt over two-week average daily volume of 0.59 lakh shares. Volumes stood at 1.02 lakh shares in the last session.

RBL Bank jumped 4.07% to Rs 186.50. Shareholders of RBL bank approved the reappointment of Vishwavir Ahuja as the managing director and chief executive for the fourth term.

According to the results of the voting held at the 21 September 2021 annual general meeting, as much as 99.94% of shareholders who participated in the voting favoured the reappointment of Vishwavir Ahuja as the managing director (MD) and chief executive officer (CEO) for the fourth term beginning June this year.

In January 2021, the board of RBL Bank had approved a three-year extension for Ahuja from 30 June 2021 to 29 June 2024.

However, in June this year the Reserve Bank of India (RBI) approved only a one-year extension for Ahuja as MD & CEO of the bank with effect from 30 June 2021.

Global Markets:

European stocks rallied across the board while most Asian stocks advanced on Thursday as global markets reacted to the latest statements from the U.S. Federal Reserve in which it said it was not ready to taper monetary stimulus yet.

Investors continue monitoring the situation surrounding China Evergrande Group. As per reports, China Evergrande Group's chairman said the firm's top priority is to help wealth investors redeem their products, though questions remain over whether the embattled Chinese developer will pay the interest due on a dollar-denominated bond on Thursday.

US stocks rallied on Wednesday after the Federal Reserve indicated it doesn't see an imminent rollback of the monetary stimulus that has been supporting the economy throughout the pandemic.

The Fed did not give a specific timeline on when it may begin moderating its purchases. “If progress continues broadly as expected, the Committee judges that a moderation in the pace of asset purchases may soon be warranted,” the Fed's post-meeting statement said.

The central bank has been buying $120 billion a month of Treasury and mortgage-backed securities since the start of the COVID-19 crisis. The Federal Open Market Committee voted unanimously to keep short-term rates anchored near zero on Wednesday.

The Fed is split on the timing of the first interest rate hike. Wednesday's so-called dot plot of projections showed nine of the 18 FOMC members expect a rate increase in 2022. That's up from seven in June's Fed projections.