In today’s briefing:
- SEBI’s F&O Criteria Revision & Its Impact
- Ohayo Japan | S&P 500 Struggles to Find Footing in September
- # 55 India Insight: Motherson Plans QIP, Tata Consumer Merger, Adani Power Invest INR 18,000 Crore
- Tokyo Morning Connection: NKY225 Rebalance Decision, Likely Dip Buying After Yesterdays Rout
- Hotchips Conference Sparknotes
SEBI’s F&O Criteria Revision & Its Impact
- SEBI has overhauled F&O eligibility criteria, introducing stricter norms for stock inclusion and exclusion for more active stocks.
- As per calculation, New criteria will include 80 stocks and exclude 18 to 23, impacting market liquidity and stability.
- This will lead to the creation of a more robust, transparent, and liquid for the F&O Market.
Ohayo Japan | S&P 500 Struggles to Find Footing in September
- U.S. stocks finished mostly lower on Wednesday, with the S&P 500 and Nasdaq ending down for the fourth time in the past five sessions
- Nvidia, the U.S. chipmaker, will invest several billion yen in Sakana AI, a Japanese AI startup co-founded by former Google researchers.
- Biden to block Nippon Steel’s $14.9 billion acquisition of U.S. Steel (X: -17%) on national security grounds
# 55 India Insight: Motherson Plans QIP, Tata Consumer Merger, Adani Power Invest INR 18,000 Crore
- Samvardhana Motherson Plans $1 Billion QIP for Debt Reduction or Acquisition.
- Tata Consumer Ltd. Products Merges Three Subsidiaries to Streamline Operations
- Adani Power to Invest INR 18,000 Crore to Triple Kawai Plant Capacity
Tokyo Morning Connection: NKY225 Rebalance Decision, Likely Dip Buying After Yesterdays Rout
- NKY225 rebalance decision was made yesterday: Ryohin Keikaku and NRI replaced Nippon Paper and DIC. A focus on sector balance should continue to be positive for future consumer goods candidates.
- With US markets stabilizing there are several names with strong fundamental drivers which look attractive as buy the dip candidates after yesterdays heavy selling.
- US job opening data below street estimates increases likelihood that Fed will start with a 50 bps cut this month. Should help the likes of Shin Etsu and Sumitomo Forestry.
Hotchips Conference Sparknotes
- Hot Chips this year was primarily about AI chips (per the theme of every semiconductor conference as of late).
- The most impactful presentation by far was the Broadcom CPO presentation, SuperMicro water cooling, MTIA, and some honorable mentions to Enfabrica and Dojo/Mojo from Tesla.
- The biggest disappointment was AMD, which presented nothing incremental and, of course, the CPU announcements.
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