On Tuesday, 1266 stocks advanced, 2676 declined and 84 remained unchanged, on the Bombay Stock Exchange (BSE) with an advance decline ratio of 0.47, indicating negative closing of stocks in broader markets. FIIs have been consistent sellers for the past week or so and today it has its impact on the market. The trend of the major indices on Tuesday’s trading is given in the table below.
On NSE, 121 securities advanced and closed at a new 52-week high whereas 31 securities sank to close at their new 52-week lows. In sectoral indices, Nifty Metal, Nifty PSU Bank and Nifty Media among the biggest losers. Nifty IT was the only gainer.
Alembic Pharmaceuticals (-2.78%) received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Dabigatran Etexilate Capsules, 110 mg. The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), Pradaxa Capsules, 110 mg of Boehringer Ingelheim Pharmaceuticals, Inc. (Boehringer).
Dixon Technologies (India) (+2.76%) completed the acquisition of Tranche 1 Shares, i.e., 50.10% stake in Ismartu India, for a total consideration of Rs275.99 crore on August 13, 2024 (subject to post closing adjustment in terms of the SPA). Accordingly, Ismartu India has become a subsidiary of the company.
Maruti Suzuki India (-0.79%) commenced export of its sports utility vehicle Fronx to Japan. The first consignment of over 1,600 vehicles left for Japan from Gujarat's Pipavav port. Fronx will be the first SUV from Maruti Suzuki stable to be launched in Japan. The company rolls out the model exclusively from its Gujarat plant. Fronx is the second model from Maruti Suzuki to be exported to Japan, after Baleno in 2016.
The Reserve Bank of India (RBI) imposed a monetary penalty of Rs1,86,80,000 on CSB Bank for contravention of section 10(1)(b)(ii) of the BR Act, and non-compliance with certain directions issued by RBI on ‘Guidelines on Managing Risks and Code of Conduct in Outsourcing of Financial Services by banks’ and ‘Master Circular on Branch Authorisation’. This penalty has been imposed in exercise of powers vested in RBI conferred under the provisions of section 47A(1)(c) read with section 46(4)(i) of the Banking Regulation Act, 1949.
The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs1,06,40,000 on Union Bank of India for non-compliance with certain directions issued by RBI on ‘Creation of a Central Repository of Large Common Exposures-Across Banks’ and ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers vested in RBI conferred under the provisions of section 47 A (1) (c) read with sections 46 (4) (i) and section 51(1) of the Banking Regulation Act, 1949.
Wardwizard Innovations & Mobility (-0.75%) received approval for investment in Wardwizard Global PTE., wholly owned subsidiary (WOS) of the Company, of an amount not exceeding 1 lakh SGD (Singapore Dollar), through Overseas Direct Investment (ODI) by way of subscribing or acquisition to the equity shares/ further issue of capital in one or more tranches offered by it, subject to applicable laws.
Marine Electricals (India) (MEIL) (-5.00%) entered into a memorandum of understanding (MOU) with M/s. Cummins India, for the purpose of developing business opportunities that would be mutually beneficial. This MOU, would for facilitating Supply, Commissioning and after Sales Services in the specific areas, diesel generator sets or integrated propulsion and power generation solutions with conventional or diesel-electric configuration for the Indian Navy in particular besides private ship owners.
Inox Wind (+3.47%) bagged an order for 51 MW from Everrenew Energy. This is an equipment supply order for its latest 3 MW Wind Turbine Generators (WTGs). Additionally, Inox Wind will provide post commissioning multi-year operations & maintenance (O&M) services. The project will be executed in Tamil Nadu.
Power Grid Corporation of India (-1.23%) was declared as the successful bidder under tariff-based competitive bidding to establish Inter-State transmission system for ‘Additional Transmission System for Evacuation of Power from Bhadla-III PS as Part of Rajasthan REZ Phase-III Scheme (20 GW)’ on build, own operate and transfer (BOOT) basis.
JSW Steel (-1.04%) received approval for the acquisition of an economic interest of up to 66.67% in M Res NSW HCC (M Res NSW) for an investment of $120 million through the company’s’ wholly owned subsidiary JSW Steel (Netherlands) B.V. The terms of the investment require the company to further invest $50 million in M Res NSW to fund its obligation towards the deferred consideration payable in 2030. The Board of Directors of the company at its meeting held on August 12, 2024 has approved the same.
Earnings:
TD Power Systems (-1.28%): Net Sales was Rs274 crore in Q1FY25 up 24% YoY (Rs220 crore). Net Profit was Rs35.4 crore in Q1FY25 up 33% YoY (Rs26.6 crore).
Time Technoplast (+1.05%): Net Sales was Rs1,230 crore in Q1FY25 up 14% YoY (Rs1,079 crore). Net Profit was Rs80.5 crore in Q1FY25 up 41% YoY (Rs57.1 crore).
The top gainers and top losers of the major indices are given in the table below:
The closing values of the major Asian indices are given in the table below:
