Pure Market Insight

HERE'S SOME NEWS THAT CAN HELP YES BANK SURGE MASSIVELY 🚀

On 20th September 2022, $YESBANK announced that its board has approved the sale of $6 billion (₹480 billion, approximately) stressed debt to private equity firm JC Flowers after the bank received no challenger bids to JC Flowers' base bid for the ₹48,000 crores NPA portfolio.

Yes Bank said in a stock exchange filing, “The Swiss Challenge process has now concluded and the Bank not having received any Challenger Bids to the Base Bid, the Board of Directors of the Bank, at their Meeting held on 20th September, 2022, has approved the declaration of JC Flowers ARC as the winner of the Swiss Challenge process.”

Furthermore, at their meeting yesterday, the Board of Directors of the bank also approved the necessary investment for the acquisition of up to 19.99% equity stake in JC Flowers ARC by the Bank (in single or multiple tranches), subject to the required regulatory approvals.............................
💼 TOP STOCKS IN THE NEWS 🗞️

◾Hero MotoCorp, Hindustan Petroleum partner to set up charging infrastructure for electric vehicles.

◾Crompton Greaves approved the sale of a 6% stake in its subsidiary Butterfly Gandhimathi Appliances via an offer for sale (OFS).

◾Bombay Dyeing board of directors would consider a proposal for raising funds by issue of equity shares.

◾West Bengal government has awarded a greenfield deep sea Tajpur port project to Adani Ports at an investment of ₹25,000 crores.

◾KKR and Hero Group invest $450 Million in Hero Future Energies.

◾Axis Bank and Kotak Bank are likely to raise ₹4,500 cr via infra bonds.

◾NARCL offers ₹3,500 cr to take over Jaypee Infrastructure debt.

◾KKR, Baring Private Equity, Temasek circle TPG stake in Manipal Hospitals

◾Essar to invest USD 4 bn in a steel plant in Saudi Arabia.

◾HDFC Capital raises over ₹500 crores in the first close of proptech fund.

◾CCI approves merger of Jio Cinema OTT with Viacom18 Media.

◾M3M to invest ₹130 crore to develop the retail project in Gurgaon.

◾Welspun Corp rises on acquiring Nuyaan Shipyard.

◾Yes Bank approves the sale of $6 billion stressed debt to JC Flowers.

◾RBI lifts prompt corrective action curbs from the Central Bank of India.
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📰 OTHER TOP NEWS 📰

Domestic 👇🏽

◾India to grow at over 7% in FY23: CEA

◾Gold loan NBFCs report a 12% uptick in credit demand from the agri sector.

◾India's retail loan volume grows to near commercial loan share in lending market- CRIF study

◾India drops 7 positions in the global list of median fixed broadband speed in August: Ookla

◾August crude processing is 9% lower than July as demand fades.

◾FM Nirmala Sitharaman urges IFC to scale up India lending to $3.5 billion in 3-4 Years.............................................................
◾FY23 credit growth seen at 13%; deposit rates set to move higher: Ind-Ra.

◾India, and Saudi Arabia discuss the Rupee-Riyal trade, UPI payment system.

◾India, Egypt sign MoU to further defence cooperation during Rajnath Singh's visit.

◾Retail inflation for farm, rural workers rise in August.

◾US drug regulator resumes surprise inspections in India

Global 👇🏽

◾Dow drops as traders eye supersized Fed hike

◾Russia is likely to ship more fuel to Asia and the Middle East in the coming months as Europe ramps up sanctions.

◾'Crippling' energy bills force Europe's factories to go dark

◾German central bank sees signs of recession 'multiplying'.

◾Costs for shipping energy are surging as Europe's scramble for supplies creates a shortage of vessels to carry essential fuels this winter.........................................

🌎 GLOBAL STATS 🌎

📊 Wall Street continues to slide on the lower side

Nasdaq | -0.95% |
S&P500 | -1.13% |
Dow Jones | -1.01% |

🛢️ Brent crude @ 90.28

💰 Rupee vs USD @ 79.823

◾ As of 7 am, SGX Nifty is currently trading at a loss of 80 points, indicating a negative opening........................................

◾ On Friday, FIIs net bought shares worth ₹1196 crores, while DIIs net offloaded shares worth ₹131.96 crores.

🚀 Stocks trading near/above 52-week high and giving a stronger closing on a daily chart today 📈

$MACPOWER | ▲ 20%
Old 52W high: ₹312.25
CMP: ₹338.15

$IIFLWAM | ▲ 10%
Old 52W high: ₹1908.30
CMP: ₹1890

$VIPCLOTHNG | ▲ 7%
Old 52W high: ₹34.35
CMP: ₹36.70

BSL | ▲ 6%
Old 52W high: ₹161.70
CMP: ₹151

$CRAFTSMAN | ▲ 5%
Old 52W high: ₹2894
CMP: ₹2901

TOP 5 STOCKS THAT ARE RALLYING TODAY AND WHY 🚀

⚙️ $MACPOWER | 20% 🏗️
Due to the rise in infrastructural projects across the country engineering equipment has seen a rise in demand. The company is expected to give a good quarter as it is one of the key players in the engineering and equipment sector.

💰 $DPWIRES | 19% 💵
DP Wires is one of the key players in the steel wire sector. Steel prices have declined, which will boost the operating margin of the company.

🔎 $ADVENZYMES | 13% 🧫
Shares of Advanced Enzyme Technologies surged 12% to ₹298 on the National Stock Exchange (NSE) in Tuesday's intraday trade after Nalanda India Equity Fund increased its stake by nearly 3% in the company.

🚚 $LANCER | 12% 📦
Lancer Container Lines Ltd. received a dispatch of Shipping/EXIM Containers on the 16th of September, 2022 from SYMCON Industries Pvt. Ltd., the one and only Ahmedabad-based and probably the 1st Gujarat-based ISO Marine Container manufacturer.

🫖 $MCLEODRUSS | 10% ☕
A corporate entity has picked up a 4.73% stake in troubled tea planter McLeod Russel India Ltd, sending the stock soaring to the upper circuit.