HDFC Bank to Sell Rs 10,000 Crore in Loan Portfolios

1. Markets this Week

   • This week will be crucial domestically and technically, with investors closely monitoring global markets and macroeconomic data.

   • D-Street experts note that market sentiment is positive due to improved global cues following Powell's rate cut hints. However, sustained participation from the banking sector is essential for the Nifty 50 to surpass the 25,500 mark.

2. New IPOs

   • This week, primary markets are expected to be active with several new initial public offerings (IPOs) and listings planned for both the mainboard and small and medium enterprises (SME) segments. See more in our IPO section.

3. Macro Data

   • This week will see the release of macroeconomic data including HSBC India Services PMI (August) and HSBC India Manufacturing PMI (August). Auto stocks will also be in focus with the release of August's monthly auto sales numbers.

• The Indian stock market benchmark, Nifty 50, reached a new record high, extending its winning streak to 12 consecutive sessions on Friday, August 30, driven by positive global cues.

• Similarly, the 30-share Sensex also hit a record high, with both indices marking their third consecutive monthly gain.

• The rupee ended flat for the day, recording its second consecutive monthly decline.

Lupin +2.47%

• The pharma stock jumped 3 percent to a new all-time high of Rs 2,257 on August 30 after international brokerage firm Nomura upgraded its rating to a 'buy' and increased the target price.

• Nomura set the target at Rs 2,427, suggesting a 9 percent upside from the last NSE close. The firm expects stronger growth and profitability in key markets, which could lead to the company being valued at a premium compared to its peers.

Spicejet (5.54%)

• The stock dropped significantly by 6 percent on August 30 after the aviation regulator, the Directorate General of Civil Aviation (DGCA), placed the airline under 'enhanced surveillance.'

• This action involves more frequent spot checks and night inspections to ensure the safety of SpiceJet's operations.

• Zomato, Paytm, and JFS may enter the F&O segment following SEBI's new entry and exit rules. (NDTV)

• Mastercard and boAt have launched a tap-and-pay feature on wearables. (EN)

• Deposit and lending rates increased sequentially in July. (ET)

• Banks will miss opportunities if they don't collaborate with fintechs, says the Axis Bank MD. (BS)

• Fintech firms must prioritize national interest over business gains, says RBI Deputy Governor. (YS)

• India's forex reserves reach a record high. (RT)

• Following CCI approval, NCLT greenlights $8.5 billion Reliance-Disney India merger. (Mint)

• Infra.Market engages 8 investment bankers for its Rs 5,866 crore ($700Mn) IPO. (MC)

• Max Estates launches QIP to raise Rs 800 crore ($95.4Mn). (BS)

• NBCC approves a 1:2 bonus share issue and allocates Rs 90 crore ($10Mn). (BS)

• Gala Precision Engineering raises over Rs 50 crore ($6Mn) from anchor investors; IPO opens today. (MC)

• Ecos Mobility IPO was subscribed over 64 times on the final day due to robust demand. (MC)

• Baazar Style Retail IPO was subscribed 0.72 times on day 1, with the retail portion booked 0.66 times. (MC)

This week’s mainboard IPO schedule

• Baazar Style

  • Offering Period: 30 August - 03 September, 2024

  • Listing Date: 06 September, 2024

  • Issue Price: 370 - 389

  • Lot Size: 38

• Gala Precision Engineering

  • Offering Period: 02 September - 04 September, 2024

  • Listing Date: 09 September, 2024

  • Issue Price: 503 - 529

  • Lot Size: 28

M&A / Investments

• Rakesh Gangwal and a family trust sell 5.83% stake in IndiGo for Rs 10,500 crore ($1.25Mn). (BS)

• Adani Ports acquires an 80% stake in Astro Offshore for Rs 1,551 crore ($185Mn). (BS)

• Macrotech Developers acquires two warehousing companies for Rs 96 crore ($11.4Mn). (ET)

• BLS International acquires a 51% stake in SLW Media for Rs 80.24 lakh ($95k). (BS)

• Emami to fully acquire The Man Company. (YS)

• SEBI approves IIHL's acquisition of Invesco AMC's PMS business unit. (BS)

• Tata Consumer Products completes the merger of three wholly-owned subsidiaries in India. (ET)

Debt

• NTPC gets shareholders' approval to raise up to Rs 12,000 crore ($1.43Bn). (BS)

• HDFC Bank to sell Rs 10,000 crore ($1.19Bn) in loan portfolios through pass-through certificates. (BS)

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