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Weekly Newsletter September 17, 2022

StockAxis Weekly Newsletter September 17, 2022

Benchmark indices log worst week in a month dragged by IT.

Indian Markets

Nifty logs worst week in three months. The S&P BSE Sensex fell (-1.6%) to 58,840.79 in the week ending September 16, 2022 while the NSE Nifty50 fell by (-1.7%) to 17,530.85.

On the sectoral front, Nifty Metal (+1.9%), Nifty pharma (+1.5%), Nifty Bank (+0.9), Nifty FMCG (-1.5), outperformed the NSE Nifty50 index while, Nifty Auto (-2%), Nifty PSU Bank (-2.7), Nifty Media (-3.1%), Nifty Realty (-3.3%) and Nifty IT (-7%) underperformed the index.

The India VIX increased by (+11.9%) to 19.82.

FIIs/DIIs Daily Cash Market Activity (INR. in Crores)

Date FIIs DIIs
12/09/2022 +2,049.65 -890.51
13/09/2022 +1,956.98 -1268.43
14/09/2022 -1397.51 +187.58
15/09/2022 -1270.68 -928.86
16/09/2022 -3260.05 -36.57

News Update

Bharti Airtel: Bharti Airtel’s subsidiary Nxtra Data has partnered with Bloom Energy to deploy low environmental impact fuel cell installation at its data center in Karnataka, reducing carbon emissions through a cleaner, hydrogen ready fuel supply. will invest over Rs 5000 crore over the next four years to expand its capacity by 3X to over 400 MW.

Tata Consumer: Tata Consumer Products has entered the health supplements segment with the launch of a plant-based protein powder ‘Tata GoFit’. Tata GoFit, a health supplement range for women, is a plant-based easy-to-mix product formulated with the goodness of gut-friendly probiotics. This launch is in line with the company’s focus on accelerating innovation, strengthening its wellness portfolio and expanding its total addressable markets.

HDFC Life Insurance: HDFC Life Insurance Company has launched a term insurance plan Click2Protect Super, which enables customization as per your protection needs and you only pay for the benefits / plan options that you have chosen. Click2Protect Super is a non-linked, non-participating, individual, pure risk premium/ savings life insurance plan that provides with multiple flexibilities such as changing life cover, extending the, etc. thereby giving you a true sense of freedom like never before. This smart plan option comes with an inbuilt-benefit of terminal illness cover and also allows you to increase the cover amount to ensure financial independence for your family in your absence.

Infosys: Infosys has collaborated with Bpost (Belgium Post), a leading postal operator and growing parcel and omni-commerce logistics partner in Europe, to secure the cloud environment and build robust cyber resilience for Bpost’s mail delivery and logistics services. Infosys securely accelerated Bpost’s cloud transformation journey with its tailored Cloud SecOps delivery model. The model improves Bpost’s Azure and AWS cloud security posture by leveraging Infosys Cyber Next platform. This brings the advantages of 24/7 security monitoring, security analytics, threat intelligence, advanced security controls such as endpoint detection and threat response, vulnerability management, and deception management.

Bharat Forge: Bharat Forge’s wholly owned subsidiary Kalyani Powertrain has joined hands with Harbinger Motors Inc. (Harbinger), a company revolutionizing the mediumduty commercial electric vehicle industry, to form a joint venture focused on developing electric drivetrain solutions for the commercial vehicle market. The new JV, named Electro Forge, will leverage the strengths of both the partners to offer bestinclass drivetrains developed for the Class 3 through 8 markets, delivering superior efficiency and cost competency.

Tech Mahindra: Tech Mahindra has entered into a strategic partnership with Quantre Solutions, a customer communications management consulting service provider headquartered in the US. The combined efforts will focus on modernizing the customer communications industry to deliver superior customer experience across industries such as financial, insurance, and healthcare industries, to name a few.

TATA Power: Tata Power Company’s subsidiary Tata Power Solar Systems (TPSSL) has received the Letter of Award (LoA) of Rs 596 crore for setting up a 125 MWp floating solar project from NHDC. The LoA was awarded through tariff-based competitive bidding. The project will be commissioned within 13 months from the date of letter of award and will provide sustainable power to M.P. Power Management Company.

Voltas: Voltas has sold close to 1.4 million AC units in the January to August period, amid an increase in demand for cooling products given the intense summer experienced across the country, coupled with the company's strong online and offline distribution network.

Larsen & Toubro (L&T): Larsen & Toubro’s (L&T) construction arm L&T construction has secured a repeat order for its Water & Effluent Treatment Business from the Department of Water Resources, Government of Odisha, to execute a Pressurized Underground Pipeline Irrigation Network System for the Right Command of Lower Suktel Irrigation Project. The project envisages to provide water to irrigate 27,000 Ha of Culturable Command Area (CCA) in the Balangir district of Odisha.

Godrej Properties: Godrej Properties has achieved record sales worth Rs 1,210 crore through the simultaneous launch of two new projects, Godrej Ascend located at Kolshet Road, Thane and Godrej Horizon located at Dadar Wadala, Mumbai. The company has cumulatively sold 700 plus homes accounting for an area of over 8.08 lakh square feet for both projects launched in Q1FY23.

Mindtree: Mindtree has designed and implemented a digital command and control solution for Larsen & Toubro (L&T), an Indian multinational engaged in EPC projects, hi-tech manufacturing and services, for the company’s recently commissioned Green Hydrogen Plant in Hazira, Gujarat. he solution is equipped with preventive and predictive data analytics capabilities to provide real-time insights into plant performance and support data-driven decision-making. This will help reduce the plant’s carbon footprint and improve operational agility by increasing electrolyzer efficiency and reducing downtime.

Ester Industries: Ester Industries has divested its Engineering Plastics business to Radici Plastics India. This strategic divestment will not only result in a stronger balance sheet for Ester Industries but also provide the requisite growth capital for scaling up its capacities in business areas wherein the Company believes there is opportunity to enhance shareholders value.

Indian Hotels: Indian Hotels Company (IHCL) has signed a Vivanta hotel in Haridwar, Uttarakhand. Located in SIDCUL, a key commercial area within the city, the existing hotel will be rebranded to Vivanta post upgradation. This is a management contract with Marvelous Infraestate. Featuring 129 rooms and suites, the Vivanta hotel will be strategically located within SIDCUL the State Industrial Development Corporation of Uttarakhand Limited, a vibrant industrial township, and BHEL.

Maximus International: Maximus International’s wholly owned subsidiary MX Africa (MXAL) (Nairobi, Kenya) has entered into a Share Purchase Agreement on September 14, 2022 with SKG Energy and purchased additional 49 number of equity shares in Quantum Lubricants (E.A.) (QLL) (Nairobi, Kenya) (Constituting 49% of equity share Capital of QLL) thereby making QLL as wholly owned subsidiary of MXAL.

Redington (India): Redington (India) has joined hand with Google Cloud India for drive distribution and adoption of Google Workspace and Cloud with small and medium businesses (SMEs). Through this association, the company aims to address the demand for Google Cloud based services in India as the public cloud services market was expected to grow at a CAGR (compound annual growth rate) of 24 per cent and reach $13.5 billion by 2026. The initiative would also help fuel the adoption of Google Cloud through the partner network.

NIFTY 16,887.35 -1.21% SENSEX 56,788.81 -1.11% BANKNIFTY 38,029.65 -1.56% ADANIPORTS 784.40 -4.42% ASIANPAINT 3,302.90 -1.18% AXISBANK 722.75 -1.43% BAJAJ-AUTO 3,515.35 -0.35% BAJAJFINSV 1,646.60 -1.89% BAJFINANCE 7,171.80 -2.23% BHARTIARTL 803.35 0.43% BPCL 308.80 1.31% BRITANNIA 3,768.95 -1.93% CIPLA 1,130.75 1.42% COALINDIA 214.95 1.27% DRREDDY 4,419.65 1.94% EICHERMOT 3,463.35 -5.67% GAIL 85.15 -2.18% GRASIM 1,636.45 -2.29% HCLTECH 930.25 -0.23% HDFC 2,283.05 -0.21% HDFCBANK 1,413.20 -0.57% HEROMOTOCO 2,525.55 -0.93% HINDALCO 380.95 -2.46% HINDUNILVR 2,622.50 -2.74% IBULHSGFIN 117.55 -1.01% ICICIBANK 848.35 -1.58% INDUSINDBK 1,156.25 -2.44% INDUSTOWER 197.20 -0.13% INFY 1,393.75 -1.39% IOC 66.70 -0.37% ITC 324.40 -2.35% JSWSTEEL 623.55 -1.28% KOTAKBANK 1,783.90 -1.94% LT 1,819.30 -1.54% M&M 1,251.35 -1.33% MARUTI 8,547.00 -3.18% NTPC 160.35 0.44% ONGC 132.40 4.42% POWERGRID 210.80 -0.66% RELIANCE 2,369.50 -0.35% SBIN 519.75 -2.04% SUNPHARMA 944.50 -0.44% TATAMOTORS 397.65 -1.72% TATASTEEL 98.35 -0.96% TCS 2,984.95 -0.65% TECHM 1,005.50 -0.31% TITAN 2,574.20 -1.26% ULTRACEMCO 6,242.55 -0.20% UPL 665.10 -1.03% VEDL 268.35 -0.63% WIPRO 394.50 0.06% YESBANK 15.40 -1.60% ZEEL 252.20 -2.30%