The market had a rather good rebound on 23 Aug, and displayed good recovery from the day’s low – some may see it as a reversal pattern, some may see a technical bounce. However, what surprised is that despite global weakness, the rally continued and had a very strong last 30 min rally usually the play ground of the FIIs. And not surprisingly, they were net buyers.
22 August Strategy
This hit Stop Loss as indicated in TradeRight website – however, since I did not exit this position, I am in a 2k profit. The reason why my own SL did not trigger is that when it comes to strategy, I accept the max loss and try to hold the position as close to the expiry trade.
Call for 24 August
Plan for a small SL and let us plan to eat the PE for tomorrow’s expiry. The banks are showing some signs of buying today, and hence it may be a good bet to have the premiums eaten from banks.
Collected from various news sources (Moneycontrol, ET Money)
Investors Meetings on August 24
Sonata Software: Officials of the company will meet IDBI Capital Markets & Securities.
UltraTech Cement: Officials of the company will meet TT International, Aberdeen PLC, Schroder Investment Management UK.
Sobha: Officials of the company will meet Jefferies.
Mahindra Holidays & Resorts India: Officials of the company will meet IIFL.
Blue Star: Officials of the company will meet IIFL Securities.
Orient Electric, Carborundum Universal: Officials of companies will attend DAM Capital: Virtual MidCap Investor Conference 2022.
Nazara Technologies, Aptus Value Housing Finance India, Inox Leisure, Zee Entertainment Enterprises, Polycab India, CSB Bank, PSP Projects: Officials of companies will attend DART India Annual Conference 2022 “The Challenge of Change”.
PI Industries: Officials of the company will meet M&G, Singapore, and Franklin Templeton MF.
Advanced Enzyme Technologies: Officials of the company will meet Eternity Capital.
Asian Paints: Officials of the company will meet J P Morgan Asset Management.
Lemon Tree Hotels: Officials of the company will be participating in the corporate roadshow in Singapore organized by Motilal Oswal Securities.
Wipro: Officials of the company will participate in HDFC Securities IT sector conference.
Supreme Industries: Officials of the company will meet Vaughan Nelson Investment Management.
Marksans Pharma: Officials of the company will meet several analysts including Discovery Capital, Enam Holding, Max Life Insurance, and Rare Enterprise.
Persistent Systems: Officials of the company will interact with Grandeur Peak Global.
Stocks in News
Adani Enterprises: The Adani Group company’s indirect subsidiary Vishvapradhan Commercial (VCPL) exercised certain warrants for acquiring 99.5 percent shareholding in RRPR Holding (RRPR), a promoter company of New Delhi Television Limited (NDTV). The acquisition will result in VCPL acquiring control of RRPR. RRPR holds 29.18 percent stake in NDTV. VCPL, along with AMG Media Networks (AMNL) & Adani Enterprises will launch an open offer to acquire up to 26 percent stake in NDTV.
Ugro Capital: The company said its Investment and Borrowing Committee will meet on August 26 to approve raising of funds by way of issuance of non-convertible debentures through private placement basis.
Chennai Petroleum Corporation: Chennai Petroleum has decided to form a joint venture company along with Indian Oil Corporation and other seed equity investors (Axis Bank, HDFC Life Insurance Company, ICICI Bank, ICICI Prudential Life Insurance Company and SBI Life Insurance Company for implementing the 9 MMTPA refinery project at Cauvery basin refinery, at estimated cost of Rs 31,580 crore. Chennai Petroleum received board approval for equity investment of upto Rs 2,570 crore in the joint venture, towards its contribution of 25 percent.
Arvind SmartSpaces: The company has executed the agreements, as a promoter, in relation to the new platform. Arvind SmartSpaces, and HDFC Capital Advisors (as investment manager of HDFC Capital Affordable Real Estate Fund – 3 will make investments in company’s wholly owned subsidiary Arvind SmartHomes for acquisition and construction of real estate projects (platform funding). Arvind SmartSpaces will invest Rs 300 crore and HDFC Capital Advisors will invest Rs 600 crore in Arvind SmartHomes.
Nava: The company has decided to discontinue the production of high carbon ferro chrome for TATA Steel Mining at the end of October 2022. The company will undertake a scheduled maintenance of the Odisha smelters in November 2022 and switch over to production of manganese alloys in Odisha Works. The company has geared up for this additional production in Odisha, besides that in Telangana, aggregating to a rated capacity of 1,80,000 MT of manganese alloys per annum. The switchover would provide the company better economies of scale and improved market share in the manganese alloys segment. The agreement for production of high carbon ferro chrome for TATA Steel Mining was for the period up to March, 2025.
Bhoi Smrutirekha Dharanidhar