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Daily Morning Update Report-05-09

Gift Nifty signals a positive start today. Asian markets are trading mix in the opening session.

After record rally of 14 consecutive rising sessions in Nifty50 index, the Indian stock market finally came under the profit-booking trigger yesterday. The Nifty 50 index slid 81 points and closed at the 25,198, while BSE Sensex corrected 202 points and ended at 82,352, whereas the Bank Nifty index ended 288 points lower at 51,400. In the broader scenario, the small-cap stocks continue to attract bulls as the BSE Small-cap index finished 0.26 per cent higher in the previous session.
US Job data
Data overnight showed that US job openings dropped to a 3-1/2-year low in July, suggesting the labour market was losing steam.
The US dollar rates came under pressure after the weak US Job report on Wednesday, fueling the Japanese Yen during the early morning session today.

Stocks in News :
Reliance Ind : Received government funding for the manufacturing of 10 GWh Advanced Chemistry Cells (ACC) under a PLI scheme. The government has allocated Rs 3,620 cr for this scheme.

Adani Enterprises :
Company’s Rs 400 cr debt issue was oversubscribed on the first day. It is open for subscription till 17 Sept.

General Insurance : The government will sell up to 6.78% of its stake in the company for around Rs 4,700 cr.

Sona BLW: In confirmation of a CNBC-TV18 newsbreak, the company has launched a QIP to raise up to ₹2,400 croire. the Indicative issue price is between ₹675 to ₹700 per share and the equity dilution at the lower end of the price range will be 6.06%.

Natco Pharma :
Invested $8 million in the US-based biotech firm eGenesis Inc, which is involved in organ transplant innovation.

Welspun New Energy :
Had signed a Memorandum of Understanding (MoU) with the Government of Maharashtra to develop 1.2 GW pumped hydroelectric storage project with an investment of approximately Rs 5,000 cr.

Canara Bank:
Has mobilised $ 300 million via the IFSC Banking Unit.

Vedanta: ICRA upgraded the long-term rating to AA from AA-

Century Textiles: To give corporate guarantee of up to ₹400 crore to Hindalco for land in Thane.

Suzlon: Signs conveyance deed for OE Business Park for sale of One Earth Property for ₹440 crore

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