NET PROFIT 105B RUPEES VS 64.78B (QOQ); EST 89.6B
EBITDA RUPEES 158B VS 111.5B (QOQ); EST 138B
EBITDA MARGIN 12.33% VS 8.36% (QOQ); EST 12.9%
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Wednesday, July 26, 2023
TECH MAHINDRA Q1 Result
TECH MAHINDRA Q1 Result
YoY Rev at 13,159Cr Vs 12,707Cr ⬆️3.5%
QoQ Rev at 13,159Cr Vs. 13,718Cr⬇️4%
Year ended Rev: 53,290Cr
YoY PAT at 703Cr vs 1147Cr ⬇️38%
QoQ PAT at 703Cr Vs 1125Cr ⬇️37%
Year ended PAT: 4857Cr
CIPLA Q1 Result
CIPLA Q1 Result
NET PROFIT AT 995 CR V 687 CR(YOY)
REVENUE AT 6328 CR V 5375 Cr
EBITDA AT 1495CR V 1144CR (YOY)
EBITDA MARGIN AT 23.6% V 21.3%
LARSEN & TOUBRO Q1 Result
LARSEN & TOUBRO Q1 Result
YoY Rev at 47,882Cr Vs 35,853Cr ⬆️33.5%
QoQ Rev at 47,882Cr Vs. 58,335Cr⬇️17.9%
Year ended Rev: 1,83,340Cr
YoY PAT at 3116Cr vs 2293Cr ⬆️35.8%
QoQ PAT at 3116Cr Vs 4446Cr ⬇️29.9%
Year ended PAT: 12,624Cr
DEEPAK FERTILISERS & PETROCHEMICALS CORPORATION Q1 Result
DEEPAK FERTILISERS & PETROCHEMICALS CORPORATION Q1 Result
NET PROFIT 110 CR VS 430 CR (YOY)
EBITDA 281 CR VS 740 CR (YOY)
EBITDA MARGIN 12.13% VS 24.43% (YOY)
PUNJAB NATIONAL BANK Q1 Result
PUNJAB NATIONAL BANK Q1 Result
NET PROFIT 12.6B RUPEES VS 3.08B (YOY)
GNPA 7.73% VS 8.74% (QOQ)
NNPA 1.98% VS 2.72% (QOQ)
CEAT Q1 Result
CEAT Q1 Result
Profit at ₹144.6 cr vs 9.3 cr (YoY)
Revenue up 4.1% at ₹2,935.2 vs ₹2,818.4 (YoY)
EBITDA at ₹387.2 cr vs ₹164.8 cr (YoY)
EBITDA Margin at 13.2% vs 5.9% (YoY)
RVNL OFS Announced
RVNL OFS Announced
Non-retail date - 27 JULY
Retail bid date - 28 JULY
Floor Price : 119
Today's close : 134.25 (11.36% Discount in OFS)
Base Size : 7,08,90,643 Shares
Greenshoe Option : 4,08,66,394 Shares
Retail Quota - 10% of OFS Size (No Discount)
Tuesday, July 25, 2023
DIXON TECHNOLOGIES Q1 RESULT
DIXON TECHNOLOGIES Q1 Result
NET PROFIT AT RS 68.8 CR VS RS 45.7 CR (YOY); RS 80.6 CR (QOQ)
REVENUE UP 3274CRS VS 2855CRS (YOY); RS 3067CRS (QOQ)
BAJAJ AUTO Q1 RESULT
BAJAJ AUTO Q1 Result
NET PROFIT 1665 CR VS 1170 CR (YOY); EST 1738 CR
EBITDA 1953 CR VS 1297 CR (YOY); EST 2084 CR
EBITDA MARGIN 18.95% VS 16.2% (YOY); EST 19.6%
KPIT Tech Q1 Result
KPIT Tech Q1 Result
Net profit up 20% at ₹133.9 cr vs ₹111.6 cr (QoQ)
Revenue up 7.9% at ₹1,097.6 cr vs ₹1,017.3 cr (QoQ)
EBITDA up 17.4% at ₹213.9 cr vs ₹182.2 cr (QoQ)
EBITDA margin at 19.5% vs 17.9% (QoQ)
IIFL Securities Q1 result
IIFL Securities Q1 RESULT
Net profit up 73% at Rs 68.96 crore vs. Rs 39.79 crore.
Revenue up 27% at Rs 58.59 crore vs. Rs 46.15 crore.
Net interest income up 14% at Rs 41.123 crore vs. Rs 30.87 crore.
TATA STEEL Q1 RESULT
TATA STEEL Q1 Result
NET PROFIT 6.34B RUPEES VS 77.65B (YOY)
REVENUE 595B RUPEES VS 634.3B (YOY)
EBITDA 51.73B RUPEES VS 149.73B (YOY)
EBITDA MARGIN 8.70% VS 23.61% (YOY)
L&T
L&T Q1
• Revenue expected at Rs 47882 crore versus poll of Rs 40552 crore
• EBITDA at Rs 4868 crore versus poll of Rs 4577 crore
• EBITDA margin at 10.2% versus poll of 11.3%
• Net profit at Rs 2493 crore versus poll of Rs 2150 crore
(Numbers seen majorly inline with estimates, Buyback announced at Rs 3000 per share through tender route)
TATA MOTORS BREAKING
TATA MOTORS
Will convert all DVR shares into A group shares
Shareholders of Tata Motors DVR will get 7 Shares of Tata Motors for every 10 shares they hold
Current Price
TATA MOTORS : 639
TATA MOTORS DVR : 373
7 shares of Tata Motors imply DVR shares price at 447.
LARSEN & TOUBRO Tender Buyback
LARSEN & TOUBRO Tender Buyback Approved with Special Dividend of 6 ₹
Buyback Price : Upto 3,000
Today's Closing Price : 2,561
Buyback Size ₹ : 10,000 Crore
Buyback Size in Shares : 3,33,33,333 Shares
Retail Quota : 50,00,000 Shares
Record Date for Buyback : To Be Announced
Monday, July 24, 2023
CRAFTSMAN AUTOMATION Q1 Result
CRAFTSMAN AUTOMATION Q1 Result
NET PROFIT 74.5 CR VS 56.6 CR (YOY)
REVENUE 1040 CR VS 680 CR (YOY)
EBITDA 214 CR VS 164 CR (YOY)
EBITDA MARGIN 20.65% VS 24.33% (YOY)
IDBI Bank Q1 Result
IDBI Bank Q1 Result
Profit up 61.9% At ₹1,224.2 Cr Vs ₹756.4 Cr (YoY)
NII up 60.7% At ₹3,997.6 Cr Vs ₹2,487.5 Cr (YoY)
Gross NPA at 5.05% vs 6.38% (QoQ)
Net NPA at 0.44% vs 0.92% (QoQ)
CANARA BANK Q1 Result
CANARA BANK Q1 Result
NET PROFIT 35B RUPEES VS 20.22B (YOY); EST 32.56B
INTEREST EARNED 250B RUPEES VS 181.8B (YOY)
GNPA 5.15% VS 5.35% (QOQ)
NNPA 1.57% VS 1.73% (QOQ)
RELAXO FOOTWEARS Q1 Result
RELAXO FOOTWEARS Q1 Result
NET PROFIT 56.3 CR VS 38.7 CR (YOY)
REVENUE 740 CR VS 667 CR (YOY)
EBITDA RUPEES 107 CR VS 86.1 CR (YOY)
EBITDA MARGIN 14.56% VS 12.91% (YOY)
GRAVITA INDIA Q1 Result
GRAVITA INDIA Q1 Result
NET PROFIT 52 CR VS 42.5 CR (YOY)
REVENUE 703 CR VS 580 CR (YOY
EBITDA 58 CR VS 16 CR (YOY)
EBITDA MARGIN 8.31% VS 2.73% (YOY)
JAMMU & KASHMIR BANK Q1 Result
JAMMU & KASHMIR BANK Q1 Result
NET PROFIT AT RS 326.5 CR VS RS 166 CR (YOY); RS 476.3 CR (QOQ)
INTEREST EARNED 2657 CR VS 2103 CR (YOY)
GNPA 5.77% VS 6.04% (QOQ)
NNPA 1.39 VS 6.2% (QOQ)
PNB HOUSING FINANCE Q1 Result
PNB HOUSING FINANCE Q1 Result
NET PROFIT 350 CR VS 235CR (YOY)
INTEREST EARNED 1667 CR VS 1299CR (YOY)
GNPA 3.76% VS 3.83% QOQ)
NNPA 2.58% VS 2.76%(QOQ)
KALYANI STEELS Q1 Result
KALYANI STEELS Q1 Result
YoY Rev at 496Cr Vs 492Cr ⬆️0.8%
QoQ Rev at 496Cr Vs. 459Cr⬆️8%
Year ended Rev: 1899Cr
YoY PAT at 61Cr vs 23Cr ⬆️165%
QoQ PAT at 61Cr Vs 69Cr ⬇️11.5%
Year ended PAT: 167Cr
ITC DEMERGER
ITC DEMERGER
Other than profit booking, the second biggest trouble for investors is the unfavourable demerger ratio for existing shareholders. As part of the demerger plan, ITC will own a 40% stake in the subsidiary which will be called ITC Hotels. The remaining 60% will be owned by the company’s shareholders on a proportionate basis.
Since shareholders are not getting one share against each share they are holding, they are disappointed.
"This 60% of the business will be less than the annual dividend being paid by ITC now. It is not very substantial. It did not turn out to be as big as the market was initially thinking," Amit Kumar Gupta of FinTrekk Capital said.
Once listed, we see a risk there could potentially be some supply pressure from existing shareholders in the case of ITC Hotels, especially from shareholders like BAT. We also note that most analysts currently do not apply a hold-co discount which could potentially be the case once ITC Hotels is separately listed," Jefferies analyst Vivek Maheshwari said.
The demerger will help the new entity in attracting appropriate investors and strategic partners/collaborations whose investment strategies and risk profiles are aligned more sharply with the hospitality industry.
In the last few years, ITC has adopted an 'asset-right' strategy, with a greater focus on adding properties through management contracts rather than owned hotels. About half of the rooms added in the last 3 years in the standalone entity have been through management contracts.
With a revenue of Rs 2,700 crore, 120 properties and 11,500 rooms in its kitty, ITC is the second-largest hotel chain in India among listed peers.
The hotel business has seen its revenue grow at 12% CAGR over FY20-23. On the back of healthy occupancies (70%) and peak average room rates (ARR), a segmental EBITDA margin expanded to an all-time high of 32.2% in FY23. In the segment, the revenue doubled over FY22, standing at 1.4x of pre-pandemic levels.
Analysts say the hotels business is in a sweet spot, with improving travel activities and no new major room supply in the industry coming on stream leading to high occupancy and ARR.
Friday, July 21, 2023
JSW STEEL
JSW STEEL
Q1FY24 – Performance - Result is in line with the expectation.
YoY Rev at 32,521Cr Vs 30,651Cr ⬆️6%
QoQ Rev at 32,521Cr Vs. 36,752Cr⬇️11.5%
Year ended Rev: 130,039Cr
YoY PAT at 1705Cr vs 956Cr ⬆️78%
QoQ PAT at 1705Cr Vs 2838Cr ⬇️40%
Year ended PAT: 4937Cr
Q4EPS at 7.05Rs vs 3.95Rs Vs. 11.74Rs
Year ended EPS: 20.42Rs
AARTI DRUGS Tender Buyback Approved
*AARTI DRUGS Tender Buyback Approved*
Today's Closing Price : 510/-
Buyback Price : 900/- (76% Gap From Closing)
Buyback Size ₹ : 59.85 Crore
Buyback Size in Shares : 6,65,000 Shares
Retail Quota : 99,750 Shares
*Record Date for Eligibility : Friday, 4 August*
TEJAS NETWORKS
TEJAS NETWORKS: Q1 SL NET LOSS 147M RUPEES VS LOSS 67M (YOY) || Q1 REVENUE 1.67B RUPEES VS 1.26B (YOY)
TEJAS NETWORKS: Q1 EBITDA LOSS 401M RUPEES VS LOSS 74M (YOY)
VEDANTA
VEDANTA : Q1
CONS NET PROFIT 26.4B RUPEES VS 44.2B (YOY)
REVENUE 333B RUPEES VS 383B (YOY)
EBITDA 64.20B RUPEES VS 102B (YOY)
EBITDA MARGIN 19.25% VS 26.66% (YOY)
CO HAS AN EXCEPTIONAL ITEM OF 17.80B RUPEES
Union Bank of India Q1 Result
Union Bank of India Q1 Result
Net profit at Rs 3,236.4 cr vs Rs 1,558.5 cr (YoY)
NII up 16.6% at Rs 8,839.7 cr vs Rs 7,581.7 cr (YoY)
Gross NPA at 7.34% vs 7.53% (QoQ)
Net NPA at 1.58% vs 1.70% (QoQ)
Average Price of Gold
Average Price of Gold in Mumbai in the month of May (Rs. per 10 grams)🪙
2023: 60,583
2022: 50,879
2021: 47,860
2020: 46,343
2019: 31,738
2018: 31,116
2017: 28,471
2016: 29,639
2015: 27,093
2014: 28,738
2013: 26,769
2012: 28,845
(RBI)
Reliance Industries Limited Dividends
Reliance Industries Limited has informed the Exchange that Board of Directors at its meeting held on July 21, 2023, recommended Final Dividend of Rs. 9.00 per equity share.
HDFC LIFE INSURANCE Q1 Result
HDFC LIFE INSURANCE Q1 Result
NET PROFIT 4.15B RUPEES VS 3.65B (YOY)
NET PREMIUM INCOME RUPEES 114.79B VS 98.47B (YOY)
Thursday, July 20, 2023
INFOSYS Q1 Result
INFOSYS Q1 Result
NET PROFIT 5945 CR VS 6128 CR (QOQ)
REVENUE 37900 CR VS 37400 CR (QOQ)
EBITDA 7891 CR VS 7877 CR (QOQ)
EBITDA MARGIN 20.80% VS 21.04% (QOQ)
INDIAMART Tender Route Buyback
*INDIAMART Tender Route Buyback*
Single Share Participants 👍
Buyback Price : 4,000/-
Today's Closing Price : 2,900/-
Buyback Size ₹ : 500 Crore
Buyback Size in Shares : 12,50,000 Shares
Retail Quota : 1,87,500 Shares
Record Date for Eligibility : To Be Announced
Indiamart🔥🔥🔥🔥
Sunday, July 16, 2023
BREAKING News:Money Times Talk - July 16, 2023
BREAKING News:
Money Times Talk - July 16, 2023
Indian Oil plans to raise Rs.22000 cr. via rights issues to fulfill its green ambition plans. Add for decent gains.
DCM Shriram Industries is foraying into Drones in a tie-up & equity participation with Zyrone Dynamics of Turkey. Recently, it signed an MOU with Skylock of Israel to manufacture anti-drone systems and has also developed a new bullet-proof vehicle. Its stock is poised for strong re-rating. Buy.
The Govt. is firm on doubling E-vehicle penetration in India and its large order for E-busses to Olectra Green is a concrete example. Add for the long term.
Idea Forge, which listed at 94% premium to its IPO price, is set to gain further. Add in small lots.
Opportunity to acquire a gold mine! Gujarat Govt. PSU shares will not come back soon. Buy GSFC, GNFC and GMDC before they flare up.
Suzlon to raise Rs.2000 cr. by way equity shares or convertible bonds or non-convertible bonds with or without convertible warrants. Accumulate.
Tinna Rubber will be the biggest beneficiary of the 2.5% mandatory use of recycled rubber in tyre manufacture given its exports to Bangladesh, Japan Thailand and Indonesia. Money Times recommended this scrip at Rs.356 about 4 months back. Even now at Rs.603, it is promising. Add.
RMC Swithgears has big expansion plans and its share price is poised for a rapid rise. Buy.
Indian Railways to revamp the entire signalling system at Rs.1 lakh crore. IRCON will be a very big beneficiary. Add.
Granules India’s Gagillapur facility has received EIR from USFDA. A big positive. Add.
Beware of rumors and false news about Lloyds Steel and Crane Software, where investors were duped in the past. Investors must stay clear and not jump into doubtful penny stocks.
M&M is in talks for Rs.5000 cr. EV push from British Intl. and other UK investors. On the domestic front, it continues to break all records. Add.
TCS clocked one of the slowest Q1 in the last few years. Stay away for some time as the markets look fully priced and a correction may be near.
PFC to raise NCDs of Rs.10000 cr. to propel its business, which continues to be excellent. Add.
India plans a biofuel alliance with some OPEC companies and ramp up present capacities. Kotiyar Industries may be a big beneficiary. Add.
Wipro to invest around Rs.100 cr. over the next few years on artificial intelligence. It has always rewarded patient investors. Add.
HCL posted a subdued Q1 with NP rising only 7.6% and revenue to Rs.26296 cr. The share looks overpriced. Sell now and buy back later.
Household spending on FMGC is rising. Buy Marico and Jyothy Labs.
Vedanta chief, Anil Agarwal, is determined to venture into semiconductors and enter the chip market this year. Add.
Indo-France defense ties are the highlight of PM Modi’s visit to France. Buying Rafale for the Indian Navy and making engines will be a very big boost for HAL. Add on dips.
Auto ancillaries in the EV segment will be the flavor of the season. Uno Minda has shown a CAGR of around 59% over the last 10 years. Add.
US FDA's GMP inspection of Gland Pharma’s Dundigul plant is over. It serves over 60 countries and has a strong foothold in the industry. Add in small lots.
RPP Infra Projects has new orders worth Rs.289.3 cr. taking its total order book to Rs.3000 cr. It has notched Q4 EPS of Rs.4.3, which may lead to FY24 EPS of Rs.15+. Buy for 30% gain.
Prakash Pipes is the cheapest PVC pipe share with a forward P/E of 4.7x against the industry average P/E of 47x. It notched 51% higher Q4 EPS of Rs.8.3 and 45% higher FY23 EPS of Rs.29.8, which may lead to FY24 EPS of Rs.35. Buy for 30% gain.
Federal Bank notched FY23 EPS of Rs.15 and 39% higher Q1FY24 EPS of Rs.4.2, which may lead to FY24 EPS of Rs.19+. Buy for 30% gain.
Bright Brothers’ wholly-owned subsidiary, Bright Brothers LLC has started commercial production in Wisconsin, USA. A big positive. Add on dips.
DCB Bank gets RBI nod to sell up to 7.5% stake to Tata Asset Management Pvt. Ltd. Also, Max Life has partnered it to offer a comprehensive range of life insurance solutions. Buy.
Gallantt Ispat to buy railway wagons and avail l0% rebate on railway freight rate for 15 years and thereby save 25% on freight cost (10% rebate + 15% on premium indent). Buy on dips.
PCBL commissions its specialty chemicals capacity expansion in Gujarat, which takes the total chemical production capacity of Mundra plant to 40000 TPA. Add on dips.
MSTC notched 63% higher Q4 EPS of Rs.10.9 and 22% higher FY23 EPS of Rs.34.4. Heavy investment buying could take its share price to new highs. Add.
Indian Bank notched Q4FY23 EPS of Rs.12.2 and FY23 EPS of Rs.44.8, which may lead to FY24 EPS to Rs.55+. A reasonable P/E of 8x could take its share price to Rs.440+ in the medium term. Add.
Dhunseri Ventures is setting up a film packaging plant and has notched FY23 consolidated EPS of Rs.155. Buy for 40% gain.
Summit Securities at a market cap of Rs.880 cr. is available at 90% discount to its holdings of Rs 8900 cr. in Ceat, KEC Int’l., Zensar, Spencer Int’l. Since all RPG (Harsh Goenka) cos. have rallied in the last 3 months significantly, add it for hefty gains.
L&T mirrors the India story including IT, Defence, Infra, Shipbuilding, etc. With a proven quality management, it is a must for every portfolio.
Bharat Forge is a behemoth that encompasses defence, oil & gas, automotive, etc. Another must for every portfolio.
Biocon is a super story that gets revealed in stages. Hurry and grab this blue chip.
Modison has ventured into electrical processors for aerospace, defence, railways and automotive industry. A big positive given the momentum in defence stocks. Add for 20% gain.
With all defense stocks booming, one can look at GOCL Corp which manufactures of explosives. Also, Lokesh Machines which is into manufacturing of small arms. Keep them on your radar.
With large cap IT stocks booming on Friday, keep an eye on Mid/small cap IT stocks this week. Genesys International into 3D mapping has nearly halved from its 52-week high. Add.
Rising energy costs & pollution control has made manufacturing in Europe unviable and many plants are shifting to developing countries. Buy Narmada Gelatin now bought by a Japanese co.
Satin Creditcare Network recorded highest ever daily and weekly volumes on Friday, which indicates that something big is cooking. It posted 59% hn higher PAT, 39% higher NII, 20% higher AUM and 47% higher disbursement in Q4FY23. Add for decent gains.
Competent Automobiles is available at a throwaway valuation at a market cap. of just Rs.189 cr. Its FY23 revenue stood at Rs.1731 cr. with an EPS of Rs.40.24. The share trades at a P/E of 7.15x and P/BV ratio of 0.60x. The book value of its share stood at Rs.505. Keep it on your radar.
BDH Industries posted an excellent FY23 with RoE of 16.27%, RoEC of 19.61% and an EPS of Rs.14.25. Its share is 40% cum dividend and available at a P/E of 11x. Keep it on your radar.
Vedavaag Systems secured a big order worth Rs.72 cr. for implementation of IP based video surveillance systems covering 1002 railway stations. A big positive. Add for hefty gains.
On Friday, a powerful bullish breakout was seen in PSU GMDC. Keep it on your radar.
Midhani engaged in specialized forgings for defence components is likely to cross its 52-week high soon. Add.
On Friday, HSCL hit a new 52-week high with big volumes. Further, the Q1FY24 results will be published on 18 July. Keep it on your radar.
Day by day trading & delivery volumes are rising in *HCC* and it is likely to cross its 52-week high soon. Add.
Patel Engg.. secured orders worth Rs.7700 cr. in FY23 and its growth trajectory will continue in FY24. Kedia Securities of Vijay Kedia has added 30 lakh shares in Q1FY24.
On Friday, a bullish breakout with volumes was seen in Allied Digital Services. It declared FY23 dividend of 25% against 20% in FY22. Its Q1FY24 results will be out on 31 July. Add.
On Friday, Genus Power hit its 52-week new high with very big volumes. Keep it on your radar.
As per market grapevine, Anantraj is likely to cross Rs.200. Keep it on your radar.
D B Corp hit a new 52-week high on Friday with big volumes. Keep it on your radar.
Hindustan Oil Exploration’s subsidiary has bought the balance 50% shares of Geoenpro Petroleum, which raises its interest in the Kharsang oilfield to 35% with the right as operator to the block. Keep it on your radar.
On Friday, Shalby hit a new 52-week high with big volumes. It also announced its partnership with Sardar Vallabhbhai University to jointly develop a full time BBA in healthcare and hospital management. Its Q1FY24 results will be out on 20 July. Add.
On Friday, NCC hit a new 52-week high with big volumes. FIIs are raising their stake in the company. Its order book stood at Rs.50244 cr. as at 31 March 23. Buy.
Bullish breakout was seen in ITD Cementation with volumes. It notched 80% higher FY23 PAT and FY24 looks more promising as it has huge orders worth Rs.20044 cr. Add for good returns.
RKEC projects to install and commission TLF Skid at Kochi LNG Terminal for Rs.21.17 cr. in 12 months. Its order book stood at Rs.1000 cr. Keep it on your radar.
Aries Agro posted FY23 profit of Rs.20.23 cr. and EPS of Rs.15.56 on its equity of Rs.13 cr. With reserves of Rs.215 cr., the book value of its share works out to Rs.187. Further, it has a RoCE of 14.4%. FIIs are raising their stake in the company. Add for good returns.
Sanmit Infra intends to venture into eco-friendly green cremation system with use of less wood. The board has approved the addition of this business to its main object clause. Add.
Shreeji Logistics, a surface logistics and parcel delivery service provider, has renewed its contract with Singapore Airlines. Buy.
Money Times Talk is part of 'Money Times' publication.
Saturday, July 15, 2023
Broad changes in Indian agriculture by FY
Broad changes in Indian agriculture by FY:
Pop'n (Cr):
2022: 136.9 (3.81X)
1951: 35.9
Food prod'n (Mn Tonnes):
2022: 936 (8.83X)
1951: 106
Agri sector income (Rs. lakh crore at 2011-12 prices):
2022: 21.15 (7.27X)
1951: 2.91
Agri Workers (Cr)
2022: 24.67 (2.58X)
1951: 9.72
Broad changes in Indian agriculture by FY
Broad changes in Indian agriculture by FY:
Pop'n (Cr):
2022: 136.9 (3.81X)
1951: 35.9
Food prod'n (Mn Tonnes):
2022: 936 (8.83X)
1951: 106
Agri sector income (Rs. lakh crore at 2011-12 prices):
2022: 21.15 (7.27X)
1951: 2.91
Agri Workers (Cr)
2022: 24.67 (2.58X)
1951: 9.72
Thursday, July 13, 2023
BEPL Q1 result
BEPL Q1 result
YoY Rev at 294Cr Vs 337Cr ⬇️12%
QoQ Rev at 294Cr Vs. 327Cr⬇️10%
Year ended Rev: 1362Cr
YoY PAT at 50Cr vs 47Cr ⬆️6.3%
QoQ PAT at 50Cr Vs 14Cr ⬆️257%
Year ended PAT: 136Cr
ANGEL ONE Q1 Result
ANGEL ONE Q1 Result
NET PROFIT 2.21B RUPEES VS 1.82B (YOY)
REVENUE 8.07B RUPEES VS 6.7B (YOY)
ANGEL ONE: CO DECLARED FIRST INTERIM DIVIDEND OF 9.25 RUPEES PER SHARE
Who’s Meeting Whom
Who’s Meeting Whom
Central Bank Of India: To meet investors and analysts on July 17.
Centum Electronics: To meet investors and analysts on July 14.
Zensar Technologies: To meet investors and analysts on July 20.
MAS Financial Services: To meet investors and analysts on July 13.
Tanla Platforms: To meet investors and analysts on July 21.
Kings Infra Ventures: To meet investors and analysts on July 17.
Tata Communications: To meet investors and analysts on July 20.
HDFC Bank: To meet investors and analysts on July 17.
Aurum PropTech: To meet investors and analysts on July 19.
Zim Laboratories: To meet investors and analysts on July 13.
Economic Times
*Economic Times*
📝 TCS' Q1 profit rises 17% to Rs 11,074 cr, investors to get Rs 9/share dividend
📝 India, France to deepen strategic ties
📝 India proposes ease of business norms at G20
📝 HCL Tech Q1 Results: PAT rises 8% YoY to Rs 3,534 crore; dividend declared at Rs 10/share
📝 Nvidia in talks to become anchor investor in Arm IPO
📝 Utkarsh SFB IPO subscribed 4.73 times on Day 1; retail portion fully booked
📝 SBI to sell up to Rs 10,000 crore of AT-1 bonds this week
📝 Agri ministry asks banks to promote Rs 1 lakh cr Agriculture Infrastructure Fund
📝 India’s retail inflation rises to 4.81% in June on higher food prices
📝 India's industrial production output up 5.2% in May from 4.5% in April
📝 US inflation hits two-year low; declines sharply to 3% in June
📝 Global public debt hits record $92 trillion- UN report
📝 Fold Health raises $6 million in funding led by Iron Pillar
📝 Hectar Global raises $2.1 million in seed funding led by Powerhouse Ventures
*Business Standard*
📝 India's outward FDI shrinks by half YoY in June 2023, shows RBI data
📝 IAMAI urges GST Council to tax gaming platform fee, not full face value
📝 Placed under enhanced surveillance, SpiceJet to get Rs 500 cr from promoter
📝 Merged HDFC Bank: New entity will have market capitalisation of Rs 12.5 trn
📝 Housing ministry to organise national conclave on urban planning
📝 Patanjali Foods' promoters plan to offload up to 9% stake through OFS
📝 Centre imposes import restrictions on certain gold jewellery, articles
📝 Oil prices rise as mild US inflation data calms fear of Fed rate hike
📝 Confused over UV definition, car companies await govt notification on cess
📝 Sebi to tweak 'fit & proper' regime for bourses, clearing corporations
*Financial Express*
📝 Bank of India targets $4-billion international business by 2026
📝 Reliance Capital administrator files Hinduja’s resolution plan with NCLT Mumbai for approval
📝 Vedanta to continue ‘sizeable investments’ in India; made $35 bn investment till date: Chairman Anil Agarwal
📝 CapFort Ventures launches a Rs 200 crore fund to invest in tech startups
📝 Razorpay launches its payment gateway for businesses in Malaysia
📝 Reliance Retail among prospective buyers for Future Enterprises
📝 India, ADB sign $130 million loan to promote horticulture in Himachal Pradesh
📝 FinEzzy aims to disburse Rs 1,500 crore in loans against mutual funds over next year
📝 Govt directs NAFED, NCCF to procure tomatoes from AP, Karnataka, Maha for distribution in key consumption centres
📝 Cabinet nod to lithium mining by private companies
*Mint*
📝 Telecom manufacturing at ₹18,000 cr, should be scaled up 10x: Vaishnaw
📝 India in talks with Netherlands for pharma supplies
📝 Wipro to invest $1 bn in AI over three years
📝 Elon Musk announces new company xAI, set to build ChatGPT alternative
📝 Hindalco Industries board approves proposal to sell land for ₹595 crore
📝 Sebi to auction 22 properties of Bishal Group, NVD Solar on August 14
📝 PFC files draft shelf prospectus to raise ₹10,000 crore via NCDs
📝 IMD issues red alert for northeast India, Sikkim, Bihar.
Wednesday, July 12, 2023
MF Industry AUM
*MF Industry AUM Data as on June 23*
(1) Total Industry AUM : *45 Lakh Cr*
(2) Equity AUM: *22.74 Lakh Cr*
(3) Sip Accounts : *27.79 lakh Cr*
(4) SIP AUM : *7.94 Lakh Cr*
Hcl tech Q1 result
Hcl tech Q1 result
Net profit up 3531Crs Vs 3281Crs (YOY)
Revenue up 26296Crs Vs 23464Crs (YOY)
EBITDA up 5365Crs Vs 4975Crs (YOY)
CO DECLARED SRCOND INTERIM DIVIDEND OF 10 PER SHARE
PATANJALI OFS
PATANJALI OFS Announced
Non-retail date - 13 JULY
Retail bid date - 14 JULY
Floor Price : 1,000
Today's close : 1,226 (18.40% Discount in OFS)
Base Size : 2,53,39,640 Shares
Greenshoe Option : 72,39,897 Shares
Retail Quota - 10% of OFS Size (No Discount)
Quarterly Results Calender
*Quarterly Results Calender*
12th Jul - HCLTECH, TCS
13th Jul - FEDERALBNK, WIPRO
14th Jul - BANDHANBNK
17th Jul - LTIM
18th Jul - ICICIGI, ICICIPRULI, LTTS, POLYCAB
19th Jul - CANFINHOME, L&TFH
20th Jul - COFORGE, HINDUNILVR, INFY, MPHASIS, PERSISTENT
21st Jul - ATUL, HDFCLIFE, JSWSTEEL, ULTRACEMCO
22nd Jul - AUBANK, ICICIBANK, KOTAKBANK
24th Jul - HDFCAMC
25th Jul - ASIANPAINT, BAJAJAUTO, JUBLFOOD, SBILIFE, TATAMOTORS
26th Jul - BAJFINANCE, CIPLA, DRREDDY, SHREECEM, TATACONSUM, TECHM
27th Jul - BAJAJFINSV, INDUSTOWER, NESTLEIND
28th Jul - EXIDEIND, M&MFIN, MARICO
31st Jul - BOSCHLTD
1st Aug - CHOLAFIN
3rd Aug - DABUR
4th Aug - RAIN
8th Aug - HINDALCO
9th Aug - MFSL
11th Aug - ABB
12th Aug - AMARAJABAT
Saturday, July 8, 2023
Assets of Indian Households
*Assets of Indian Households*
🏡 Real Estate & Properties - 50.7%
🪙 Gold - 15.5%
🏦 Bank Deposits - 14%
📈 Equities - 4.7%
💸 Cash - 3.4%
Friday, July 7, 2023
Sobha Q1 Update
*Sobha Q1 Update (Year-On-Year)*
The company achieved its highest ever quarterly sale value of Rs 1,465 crore, logging a growth rate of 27.9%.
It clocked its highest ever price realisation of Rs 10,506 per square foot on a total saleable area of 13.94 lakh square feet.
Clocked total sales volume is 13.0 lakh square feet, with a growth rate of 2.6%.
Released inventory of 779,876 square feet in ongoing projects, mainly in Kerala.
STOCKS IN ACTION
STOCKS IN ACTION 7 JULY
Reliance Industries: The National Company Law Tribunal has approved the demerger of Reliance Industries's financial services undertaking into Reliance Strategic Investments, to be renamed Jio Financial Services. Reliance Industries and Reliance Strategic Investments will take the necessary steps, including fixing the record date for allotment and listing of equity shares of Reliance Strategic Inve
Dabur Q1 Update: Dabur’s consolidated business is expected to register growth of over 10%. The healthcare business in India is expected to achieve double-digit growth backed by mid-single-digit volume growth. The home care category is expected to report value growth in the high teens. The oral and hair care categories’ growth is pegged at low double digits. The food and beverage business had
Titan Company Q1 Update (Year-On-Year) Standalone revenue grew by 20%, led by robust demand. Jewellery sales rose 21%, with 18 new stores added in Q1. Watches and Wearables grew 13%, driven by premium brands. The eyecare division saw sales growth of 10%, with seven new stores added. CaratLane grew 32%, driven by healthy contributions from Akshaya Tritiya sales. Titan's total store count stoo
Tata Steel Q1 Update (Year-On-Year): Tata Steel India's crude steel production grew 2% to 5.01 million tonnes. Delivery volumes increased 18% to 4.8 million tonnes. Exports moderated on a year-on-year basis to 0.25 million tonnes.
Sobha Q1 Update (Year-On-Year) The company achieved its highest ever quarterly sale value of Rs 1,465 crore, logging a growth rate of 27.9%. It clocked its highest ever price realisation of Rs 10,506 per square foot on a total saleable area of 13.94 lakh square feet. Clocked total sales volume is 13.0 lakh square feet, with a growth rate of 2.6%. Released inventory of 779,876 square feet in ou
Indian Hotels: The company signed 11 hotels in the first quarter and opened five new hotels across destinations
JK Cement: The company has acquired an additional 20% stake for Rs 60.24 crore in Acro Paints, taking its overall holding to 80%.
Indian Oil and Praj Industries: The companies have signed a term sheet to strengthen biofuel production capacities in India. The joint venture will include the production of sustainable aviation fuel, ethanol, compressed biogas, biodiesel, and Bio-bitumen. In October 2021, the companies inked an agreement to form a JV for this.
Affle (India): The company’s unit in Singapore agreed to acquire the remaining 5% shares of Appnext at a consideration of $1.5 million in tranches within three years.
Aster DM Healthcare: The company has acquired an additional 2.36% stake in unit Malabar Institute of Medical Sciences from several minority shareholders, thus increasing its holding from 76.01% to 78.37%.
CEAT’s Market Capitalisation crosses Rs 10,000 cr for the first time
Nippon India Mutual Fund limits subscription of units in small cap fund
IOC & Praj Industries to form joint venture (JV) for building Biofuels production capacities in India
Aster DM Healthcare: Acquired Additional 2.36% Stake In Malabar Institute Of Medical Sciences || Cost Of Acquisition At 235.9m Rupees
Shyam Metalics And Energy: Says Sponge Iron June Average Realisation Per Tonne Down 10.2% || Says Long Steel June Average Realisation Per Tonne Down 6.5% (YoY)
Gallantt Ispat: Has Invested Around 3b Rupees In Pellet Plant
Universal Cable: to Invest Rs. 40 Crores in Expanding EHV Power Cable Manufacturing Capacity by 50%
Zee Entertainment: NCLT Adjourns Zee-Sony Merger Matter Till July 10
Tata Motors: Says Tata Tiago Surpasses 5 Lakh Unit Sales Milestone In India
Kotyark Industries: and Yamuna Bio Energy Secure Major Biodiesel Contracts Worth Rupees 178 Crores from Top Fuel Companies
STOCKS IN ACTION
STOCKS IN ACTION 7 JULY
Reliance Industries: The National Company Law Tribunal has approved the demerger of Reliance Industries's financial services undertaking into Reliance Strategic Investments, to be renamed Jio Financial Services. Reliance Industries and Reliance Strategic Investments will take the necessary steps, including fixing the record date for allotment and listing of equity shares of Reliance Strategic Inve
Dabur Q1 Update: Dabur’s consolidated business is expected to register growth of over 10%. The healthcare business in India is expected to achieve double-digit growth backed by mid-single-digit volume growth. The home care category is expected to report value growth in the high teens. The oral and hair care categories’ growth is pegged at low double digits. The food and beverage business had
Titan Company Q1 Update (Year-On-Year) Standalone revenue grew by 20%, led by robust demand. Jewellery sales rose 21%, with 18 new stores added in Q1. Watches and Wearables grew 13%, driven by premium brands. The eyecare division saw sales growth of 10%, with seven new stores added. CaratLane grew 32%, driven by healthy contributions from Akshaya Tritiya sales. Titan's total store count stoo
Tata Steel Q1 Update (Year-On-Year): Tata Steel India's crude steel production grew 2% to 5.01 million tonnes. Delivery volumes increased 18% to 4.8 million tonnes. Exports moderated on a year-on-year basis to 0.25 million tonnes.
Sobha Q1 Update (Year-On-Year) The company achieved its highest ever quarterly sale value of Rs 1,465 crore, logging a growth rate of 27.9%. It clocked its highest ever price realisation of Rs 10,506 per square foot on a total saleable area of 13.94 lakh square feet. Clocked total sales volume is 13.0 lakh square feet, with a growth rate of 2.6%. Released inventory of 779,876 square feet in ou
Indian Hotels: The company signed 11 hotels in the first quarter and opened five new hotels across destinations
JK Cement: The company has acquired an additional 20% stake for Rs 60.24 crore in Acro Paints, taking its overall holding to 80%.
Indian Oil and Praj Industries: The companies have signed a term sheet to strengthen biofuel production capacities in India. The joint venture will include the production of sustainable aviation fuel, ethanol, compressed biogas, biodiesel, and Bio-bitumen. In October 2021, the companies inked an agreement to form a JV for this.
Affle (India): The company’s unit in Singapore agreed to acquire the remaining 5% shares of Appnext at a consideration of $1.5 million in tranches within three years.
Aster DM Healthcare: The company has acquired an additional 2.36% stake in unit Malabar Institute of Medical Sciences from several minority shareholders, thus increasing its holding from 76.01% to 78.37%.
CEAT’s Market Capitalisation crosses Rs 10,000 cr for the first time
Nippon India Mutual Fund limits subscription of units in small cap fund
IOC & Praj Industries to form joint venture (JV) for building Biofuels production capacities in India
Aster DM Healthcare: Acquired Additional 2.36% Stake In Malabar Institute Of Medical Sciences || Cost Of Acquisition At 235.9m Rupees
Shyam Metalics And Energy: Says Sponge Iron June Average Realisation Per Tonne Down 10.2% || Says Long Steel June Average Realisation Per Tonne Down 6.5% (YoY)
Gallantt Ispat: Has Invested Around 3b Rupees In Pellet Plant
Universal Cable: to Invest Rs. 40 Crores in Expanding EHV Power Cable Manufacturing Capacity by 50%
Zee Entertainment: NCLT Adjourns Zee-Sony Merger Matter Till July 10
Tata Motors: Says Tata Tiago Surpasses 5 Lakh Unit Sales Milestone In India
Kotyark Industries: and Yamuna Bio Energy Secure Major Biodiesel Contracts Worth Rupees 178 Crores from Top Fuel Companies
Thursday, July 6, 2023
Derivatives update
*Derivatives update*
Good morning !!
Derivatives update for Thursday, 6th July 2023.
India VIX was up by 1.56% from 11.70 to 11.88 levels. Volatility was on the rise and made the index consolidate in a range with slight profit booking.
Nifty *Put/Call Ratio* (OI) decreased from 1.47 to 1.37 level.
On weekly front, Maximum Call OI is at 19500 then 19400 strike while Maximum Put OI is at 19300 then 19000 strike. Call writing is seen at 19500 then 19550 strike while Put writing is seen at 19350 then 19400 strike.
*Option data suggests a broader trading range in between 19100 to 19600 zones while an immediate trading range in between 19250 to 19500 zones.*
For weekly Bank Nifty, Maximum Put OI is at 45000 then 44500 strike and maximum Call OI is placed at 46500 then 45500 strike. We have seen Call writing at 47000 with unwinding at 45300 and Put writing is witnessed at 45000 strike.
Bank Nifty Put Call Ratio decreased from 1.38 to 1.08. Implied volatility fell from 14.2 to 14 levels.
Bank Nifty (CMP 45,151.80)
Data setup for Bank Nifty suggests a trading range in between *44750/45000 to 45500/45650 zones.*
Looking ahead at the FII’s derivatives activity, there was long built up in index futures, call selling and put unwinding in index options and long built up in stock futures.
In the cash market, FIIs were net buyers to the tune of 1603 crores while DII’s were net sellers worth 439 crores. FIIs Index Long Short Ratio increased to 72.39%.
Derivatives data and price set up suggests, Nifty has to continue to hold above 19300 zones to extend the move towards 19450 and 19500 zones while on the downside support is intact at 19250 and 19100 zones.
Bank Nifty has to continue to hold above 45000 zones for an up move towards 45500 then its recent life high of 45650 zones while on the downside support shift higher at 45000 then 44750 levels.
Thank you. Have a great trading day and weekly expiry ahead..!!
News and Impact
News and Impact
· Hawkish signal by US Fed minutes of meeting and weak PMI data announced by China, may open domestic market on a flat to negative note. Overnight , US and Europe markets declined between 0.5% to 1% after US Fed meeting minutes signaled more rate hikes are coming and disappointing economic data reignited concerns about a slowdown in growth worldwide. Asian markets traded lower by 1% and Dow Future fell by 0.2% following overnight losses in the US stocks after hawkish signals from the Federal Reserve’s latest meeting minutes. As a result, US dollar Index surged to 1-week high to above 103. Both US 2-Year and 10-Year Yield spiked to 2-week high on expectation of aggressive rate hike by US Fed to control inflation. Gift Nifty declined by 0.2% or 32 points. Yesterday, Nifty ended flat but action shifted to Nifty mid-cap and small cap counters. broader market remained strong Yesterday and Nifty 500 stocks advance decline ratio was favorable at 1.5:1. Traders buy on decline strategy in the market and technical correction may not be ruled out ahead of weekly Nifty and Bank Nifty F&O expiry today. Strong quarterly earning update by corporates and back of FIIs buying may support domestic bourses. Any decline will be good opportunity to buy on Indian equity. Expects momentum continue on Auto stocks after yesterday close on a record high. Focus on sugar stock today on account of rising global suagr price due to adverse weather conditions in Brazil and Thailand.
· US Market - U.S. stocks ended lower on Wednesday after the minutes of the Federal Reserve's June meeting showed almost all policymakers expected additional rate hikes later this year. Both Dow Jones and Nasdaq Composite slipped 0.4% and 0.2% respectively after the minutes showed that policymakers decided against a rate increase amid concerns over economic growth.
· Global market summary –China June Service PMI and Composite fell to 3-month low. Brent Crude surged to 2-week high of $77/bbl, US Vix gained 3%, US Dollar Index surged to above 103 to close at 1-week high. Both US 10-Year and 2-year bond Yield spiked to 2-week high
· Asian Market –Asian shares followed Wall Street lower on Thursday after hawkish signals from the Federal Reserve’s latest meeting minutes damped investor sentiment. Japan, South Korea, Australia, Hong Kong Index declined 0.5% to 1%.
· European Market – European equities dropped as weak economic data from China weighed on sentiment while investors awaited minutes from the latest Federal Reserve policy meeting. UK, Germany and France Index declined 1% each.
· Oil – Brent Crude gained 2% to 2-week high at $77/bbl as traders assessed the impact of the latest round of supply cuts from OPEC+ and a US industry report that pointed to another drawdown in nationwide commercial inventories.
· Gold – Gold held declined 0.5% to $1917/ounce as traders weighed hawkish signals from the Federal Reserve’s latest meeting minutes, expectation of fall in global demand.
· Previous Day market Update –Equity benchmark ended flat with buying interest seen in the auto, pharma, FMCG and oil marketing comings. Sentiment remain caution after data from China announced June PMI data 3-month low while investors awaited minutes of the latest Federal Reserve meeting, to be announce today. However, domestic market remain strong due to strong quarterly results update and continued FIIs buying interest despite a weakness in the global markets. There was stock specific action in the market and broader market was remain strong. Nifty 500 stocks advance decline ratio was 1.5:1. Sensex declined 33 points or 0.1% to settle at 65,446, while the Nifty rose 9 points or 0.1% to end at 19,398. With investors booking profit at near-record high levels amid concerns of a trade conflict between the US and China and lower the expected announced by China PMI data. FMCG and automobile stocks helped limit the weakness in the market as widening coverage of monsoons rains, which accounts for two-thirds of the country’s rains, improved outlook for the agriculture economy. The Nifty FMCG and Nifty Auto index climbed 1.8% and 1.6%, respectively. FIIs were Rs1603cr while DIIs were net sellers Rs439cr previous day.
· Nifty Technical Levels – Nifty formed an Inside Bar on daily frame and has been making higher lows from the last six sessions. Now it has to continue to hold above 19300 zones to extend the move towards 19450 and 19500 zones while on the downside support is intact at 19250 and 19100 zones.
· Bank Nifty Technical Levels – Bank Nifty formed an Inside Bar and a Doji on daily scale but higher lows formation is intact from the last six sessions. Some profit booking was seen in selective private banks but it managed to hold its support of 45000 zones. Now it has to continue to hold above 45000 zones for an up move towards 45500 then its recent life high of 45650 zones while on the downside support shift higher at 45000 then 44750 levels.
· Actionable BUY –RCF, DLF, PNB, Balrampur Chini, BSE ltd, Bajaj Auto
· Brokers Radar –Morgan Stanley TGT on Marico at 611, Macquarie TGT on Marico at 620, HSBC TGT on Zomato at 93. Nomura TGT on Maricao at 560. Bajaj Auto TGT by Jefferies at 5500, Macquarie TGT on Bajaj Auto at 4542. Nomura TGT on Bajaj Auto at 5223, JP Morgan TGT on BPCL at 400. Jp Morgan TGT on HPCL at 330, JP Morgan TGT on IOC at 110 from 100
· Events – BSE Board meeting for share buy-back, Finance Minister to Meet PSU Bank Chief today, Weekly Nifty and Bank Nifty expiry, Senco Gold IPO subscribed by 2.7 times and today final day
· Corporate Action - Kalpataru Projects dividend Rs7 and Aptech Bonus 2:5.
· Global Data –Mortgage Application, Jobless Claims, Service PMI, Composite PMI (US). CPI (UK). Factory Order and Construction PMI (Germany)
· Market Summary – Maruti Suzuki India Launches New Utility Vehicle, Indian Energy Exchange Books 8% Increase in June Electricity, Services sector PMI growth eases to three-month low in June, SAIL Posts 8% Rise in Fiscal Q1 Crude Steel and its highest-ever sales performance in fiscal, Godrej Consumer Expects Double-Digit Sales Growth in 1Q, Bajaj-Made English Triumph 400 motorcycle Launched In India, JSW Steel to replace HDFC on Sensex from July 13, Marico Sees Double-Digit 1Q Profit Growth Despite Lower Revenue, Bombay Dyeing may sell Worli land parcel at Rs 5,000 cr valuation, PEL Block deal.
· Reliance – Reliance Jio Infocomm is set to sign an about $1.7 billion contract with Nokia to purchase 5G network equipment as early as Thursday, Economic Times report - Positive
· JSW Steel – JSW will replace HDFC on the Sensex from July 13. HDFC Ltd. is merging with HDFC Bank on the same day. JBM Auto will replace HDFC in the BSE 500 index, while Zomato Ltd. will replace it in the BSE 100. – Expects positive for JSW Steel and JBM Auto.
· Tata Power: The company received a Rs 1,744 crore order to install and maintain 18.60 lakh metres in the Raipur area from Chhattisgarh State Power Distribution Company Ltd. – positive
· Wadia group firm Bombay Dyeing is in talks to sell a part of its land parcel in central Mumbai’s Worli at a valuation of Rs. 5,000 crore. A Japanese conglomerate is leading the race to acquire the land, which has a development potential of 2 million square feet for commercial purposes – Positive
· DCB Bank: The Reserve Bank of India has approved Tata Asset Management to acquire an aggregate holding of up to 7.5% of the paid-up equity capital of the bank through the schemes of Tata Mutual Fund. – positive
· Ujjivan Small Finance Bank: Total deposits grew 44% year-on-year and 4% sequentially to Rs 26,655 crore in April-June. CASA rose 27% year-on-year to Rs 6,550 crore, and the CASA ratio stood at 24.6%. Advances are up 31% year-on-year and 5% quarter-on-quarter to Rs 25,346 crore in the first quarter. Disbursement momentum continues to show strength, with 22% year-on-year growth to Rs 5,280 crore. – positive
· Prestige Estate Projects: The company and its unit, Prestige Exora Business Parks, have entered into a joint venture agreement with W.S. Industries (India) to develop IT or IT-enabled services or parks on a 6.53-acre property in Chennai. W.S. Industries proposed to implement the project through its unit, WS Insulators - positive
· Bajaj Electricals: CRISIL Ratings has upgraded the long-term rating of the company’s bank loan facilities of Rs 2,100 crore to CRISIL AA-/stable from CRISIL A+. – positive
· Asian Paints: The company’s unit, Asian White Cement Holding, has been incorporated in the name of Asian White Inc. FZE in Fujairah Free Zone, UAE, on June 26, 2023, for the purpose of carrying out the business of manufacturing, trading, and exporting white cement.
· Solara Active Pharma: The company has agreed to raise funds through the issue of equity shares of a face value of Rs 10 not exceeding Rs 450 crore by way of rights issue to eligible equity shareholders of the company. - positive
· Tata Motors: ICRA has upgraded its long-term credit rating to ICRA AA/Stable from ICRA AA-/Positive.- positive
· Services sector PMI growth eases to three-month low in June: Services sector growth eased to a three-month low in June but service providers continued to signal positive demand trends, which resulted in a stronger increase in new business volumes and further job creation. S&P Global India Services PMI Business Activity Index fell from 61.2 in May to 58.5 in June.
· ITC on Report of Hotel Business Spinoff - CNBC-TV18 reports that ITC process to spin off its hotel business is underway, and that alternative structures for the unit are also being explored. A separate listing is one of the options being considered, the report says – Positive
· Maruti – Company introduced the Invicto MPV as their latest flagship model. With an introductory ex-showroom price ranging from ₹24.79 lakh to ₹28.42 lakh, the Invicto becomes the most costly vehicle in Maruti's lineup. Essentially, the Invicto is a rebranded version of the Toyota Innova Hycross. – Positive
· Venus Remedies - Company said it has received marketing approval from Oman, Malaysia, Bosnia and Trinidad and Tobago for key chemotherapy drugs. – positive
· L&T – Company secured an EPC order in Mumbai for an Office Space Development using Composite Steel Construction Technology order between Rs1000cr – Rs2500cr – positive
· Indian Energy – Company achieved 8946 MU overall volume in June 2023, including green market trade of 272 MU, 5.33 lac RECs and 2.44 lac ESCerts (equivalent to 244 MU). The overall volume during the month was higher 8% on YoY basis. IEX achieved 25,125 MU volume across all segments during Q1 FY '24, growing 8% over Q1 FY'23. – positive
· Persistent Systems – Company inaugurated a state-of-the-art 5G Lab to provide a testing and development environment for network functions and product development activities for operators and network equipment vendors, as well as for Communications, Media, and IoT independent software vendors (ISVs). – positive
· Bajaj Auto - English motorcycle manufacturer Triumph, in collaboration with Bajaj Auto, has officially launched the highly anticipated Speed 400 and Scrambler 400X motorcycles in India. Triumph Speed 400 price has been set of Rs2.33 lakh lakh(ex-showroom) and the prices for Scrambler 400X will be announced in October. - positive
· KPI Green Energy – Company received Commissioning Certificates from Gujarat Energy Development Agency ('GEDA') for 9.40MW wind-solar hybrid power project and received order 7.70MW solar power project – positive
· Neogen Chemicals – Company having entered the electrolyte market, is eyeing Rs 1000–1200 crore in revenue from the battery chemical segment, according to its Managing Director Harin Kanani. The company has been the biggest user of lithium carbonate in India and is a manufacturer of specialty lithium-based derivatives.- Media Report – Expects positive
· G R Infraprojects In Concession Pact With NHAI For Construction Of Six-Lane Highway The bid project cost for the construction of Varanasi-Ranchi-Kolkata highway stands at Rs 1,248.37 crore. Project allocated on hybrid annuity model has a completion period of nearly two years. – positive
· SAIL Posts 8% Rise in Fiscal Q1 Crude Steel and its highest-ever sales performance in fiscal – Company posted a 8% YoY growth in its crude steel production at 4.7mt in the fiscal first quarter ended June 30. The company attained its highest-ever sales performance in fiscal by achieving a sales volume of 3.9 million tons, a 24% rise over the corresponding quarter a year ago. – positive
· Sonata Software – Company announces that it has achieved the Amazon Web Services (AWS) Service Delivery designations for two key AWS services: Amazon Elastic Kubernetes Service (Amazon EKS) and Amazon DynamoDB. – Positive
· PPAP Automotive – Company has been awarded with Machinist Super Shopfloor Award in the category of Excellence in manufacturing. The Machinist Super Shopfloor Awards are organised by Worldwide Media (WWM), a fully owned subsidiary of The Times of India Group (BCCL). PPAP was honoured out of 400 participants in different categories. – Positive sentiment
· Tinna Rubber - Company has recently entered into an Agreement for Purchase of Land to establish a new manufacturing unit at Palghar, Maharashtra. This state-of-the-art Greenfield plant, will have the capacity to process 60,000 tons of Old Used Tyres, Annually. This expansion is being done in addition to the current capacity of 90,000 tons of old used tyre recycling which is spread across India & it is being operated from four location - positive
· Gensol Engineering – Company has in the first quarter of fiscal 2023-24 ended June 30, 2023 received orders from reputed clients for the supply of trackers and the development of solar power projects worth Rs 277cr - positive
· L&T – Company wins factory and business construction order between Rs1000cr – Rs2500cr – positive
· HDFC bank – Company has acquired 84.44 lakh shares of Hindustan Oil Exploration, thus buying a 6.39% stake in the company. – positive
· Shri Bajrang Alliance – Company has successfully repaid all of its outstanding term loans. The company has successfully paid off all outstanding term loans through diligent efforts and strategic financial management. – positive
· Poonawalla Fincorp - Business Updates for Q1 FY2023-24 - Assets Under Management (AUM): AUM grew by 41% YoY and 10% QoQ to approximately Rs17,770 crore as on 30 June 2023. Asset quality: GNPA and NNPA are expected to improve further. As guided, we would strive to maintain the NNPA below 1% in line with its Management Vision 2025. Liquidity: Disbursements: Total disbursements during Q1FY24 were highest ever at approximately ₹ 7,050 crores, up 143% YoY and 11% QoQ . The Company continues to have ample liquidity of approximately ₹ 4000 crore as on 30 June 2023. – positive
· HDFC Bank Q1 Business Update - Advances aggregated to approximately ₹ 16,155 billion as of June 30, 2023, a growth of around 15.8% over ₹ 13,951 billion as of June 30, 2022 and a growth of around 0.9% over ₹ 16,006 billion as of March 31, 2023. Gross of transfers through inter-bank participation certificates and bills rediscounted, the Bank's advances grew by around 20.2% over June 30, 2022 and around 1.9% over March 31, 2023. As per the Bank's internal business classification, domestic retail loans grew by around 20.0% over June 30, 2022 and around 4.0% over March 31, 2023 – Positive
· Paytm Q1 Business Update - Continued growth in payments and loan distribution business: Leadership in offline payments strengthens with 79 lakh devices deployed; disbursements of ₹5,227 Cr ($637 million) in the month of June 2023 through Paytm platform. - Continued expansion of consumer base with average monthly transacting users (MTU) at 9.2 Cr for quarter (average for three months ended June 2023), up 23% YoY – positive
· Yes Bank Q1 Business Update - Bank's deposits grew 13.5% YoY from Rs. 193,241 crores as of June 30, 2022 to Rs. 219,369 crores as of June 30, 2023. CASA reported YoY growth of 8.4% from Rs. 59,544 crores as of June 30, 2022 to Rs. 64,528 crores as of June 30, 2023. – Avoid due to poor balance sheet.
· Godrej Consumer Expects Double-Digit Sales Growth in 1Q - Godrej Consumer expects high-single digit volume growth and double-digit sales growth organically in Q1 quarter. “Our quality of profits has seen sustained improvement, led by robust gross margin expansion and ongoing category development investments. This should translate to strong EBITDA growth,” the company said. India business had double-digit volume growth, sales growth was slightly higher than mid-single digit. Company expects exceptional stamp duty expense on Park Avenue and KamaSutra brand acquisition.
· Marico Q1 Business Update - Marico Ltd.’s profit in the April-June quarter is expected to grow by double digit led by an expansion in operating margin, even as revenue in the quarter declined in ‘low-single digits’ from a year earlier. Pricing interventions in key domestic portfolios last year and further pricing drops in Saffola edible oils, amounting to pricing decline of ~30% y/y, hurt revenue. Demand trends in the sector remained stable during the quarter, the consumer good maker said. Domestic volumes grew in low-single digits, with a minor volume drop in Parachute coconut oil, low double-digit volume growth in Saffola edible oils and flattish quarter for value – Long term positive.
· IDFC First Bank Q1 Business Update – Q1 CASA deposit increased 26.7% (YoY), advance grew 44.4% (YoY) , loan and advance as of June up 24.5% (YoY)
· Adani Wilmar: The company has estimated volume growth of 25% in the June quarter over the previous year, driven by strong demand in both food and edible oil categories. The sales value has declined, reflecting the sharp drop in edible oil prices. The Food & FMCG segment recorded volume growth of 20% and revenue growth of 30% to cross Rs 1,000 crore for the quarter on a standalone basis. The edible oil prices. The Food & FMCG segment recorded volume growth of 20% and revenue growth of 30% to cross Rs 1,000 crore for the quarter on a standalone basis. The edible oil business grew 25% in volume terms and fell 15% in terms of value growth.
Pre-Market Derivatives and Technical Set-up
*Pre-Market Derivatives and Technical Set-up*
🔎 *Nifty*
Index opened positive and remained in the range of its initial hour for the rest of the session. It took support near 19339 zones and faced some capped move on the upside. Recovery was seen in the last hour and it managed to close near 19400 zones with gains of around 10 points. It formed an Inside Bar on daily frame and has been making higher lows from the last six sessions
📊 Now it has to continue to hold above 19300 zones to extend the move towards 19450 and 19500 zones while on the downside support is intact at 19250 and 19100 zones
🎢 India VIX was up by 1.56% from 11.70 to 11.88 levels. Volatility was on the rise and made the index consolidate in a range with slight profit booking
🧮 On weekly front, Maximum Call OI is at 19500 then 19400 strike while Maximum Put OI is at 19300 then 19000 strike. Call writing is seen at 19500 then 19550 strike while Put writing is seen at 19350 then 19400 strike. Option data suggests a broader trading range in between 19100 to 19600 zones while an immediate trading range in between 19250 to 19500 zones
🔎 *Bank Nifty*
Index marginally lower but remained consolidative in a narrow range of 200 points between 45100 to 45300 zones for most part of the trading session. It formed an Inside Bar and a Doji on daily scale but higher lows formation is intact from the last six sessions. Some profit booking was seen in selective private banks but it managed to hold its support of 45000 zones
📊 Now it has to continue to hold above 45000 zones for an up move towards 45500 then its recent life high of 45650 zones while on the downside support shift higher at 45000 then 44750 levels
🔎 *Fin Nifty*
Index opened negative and witnessed selling pressure right from the initial tick and cracked by almost 150 points. It has negated its higher highs-higher lows formation after five trading sessions as small pause is now visible in the ongoing uptrend after clean rally of more than 1000 points in last seven trading sessions. It formed a Bearish candle on daily scale however overall setup is still bullish
📊 Now it has to continue to hold above 20100 zones to extend the gain towards 20400 then 20550 levels while a hold below the same can drag it towards 20000 then 19900 level
*Stocks*
🚀 Bullish setup in BHEL, Bajaj Auto, Divislabs, Colpal, Hindpetro, Heromotoco, Maruti, HDFC Life, Godrejcp, Exideind, Oberoirlty, DLF, BPCL, Techm, Dabur, Bharatforg, Jindalstel, Hindunilvr, Britannia, ITC, ICICI Bank, M&M and Titan
🐻 Bearish setup in Dixon, HDFC Bank, HDFC Ltd, Astral, Eicher Motor, SRF and Page Ind
STOCKS IN ACTION 5 JULY
STOCKS IN ACTION 5 JULY
LTIMindree: The company will replace HDFC Ltd. in Nifty 50 after mega HDFC merger. It will move from Nifty Next 50 to Nifty 50. The replacement will come into effect on July 13. The replacement will also be applicable to Nifty50 Equal Weight index.
Samvardhana Motherson International: The company, via unit SMRP B.V., will buy 81% stake in Yachiyo's 4W business, housed under Japan's Yachiyo Industry Co. Ltd. The stake is valued at JPY 22.9 billion (Rs 1,301 crore) for 100% stake. Honda Motor will own 19%, making it 81:19 joint venture.
Jindal Steel & Power: The company will replace HDFC in Nifty 100.
Mankind Pharma: The company will replace HDFC in Nifty 500, Nifty 200, Nifty Large Midcap 250 and Nifty Total Market
LIC Housing Finance: The company will replace HDFC in Nifty Financial Services.
Phoenix Mills: The company will replace HDFC in Nifty Housing.
Brigade Enterprises: The company will replace HDFC in Nifty Core Housing
Ambuja Cements: The company will replace HDFC in Nifty High Beta 50.
State Bank of India: The lender has approved to acquired entire stake held by unit SBI Capital Markets in SBICAP Ventures for a cash consideration of Rs 708.07 crore.
Bandhan Bank: Bandhan Bank Chief Financial Officer Sunil Samdani has resigned, with effect from Sept. 30, and decided to explore professional opportunities outside the bank. The bank is in the process of identifying a suitable candidate for the office of CFO.
Syngene International, Strides Pharma: Stelis Biopharma, the biologics arm of Strides, has signed a binding term sheet with Syngene International Ltd. to divest its Unit 3 multi-modal facility in Bengaluru for a gross consideration of Rs 702 crore. Syngene further invest up to Rs 100 crore to repurpose and revalidate the facility. The site will have a manufacturing capacity of 20,000 litres of ins
Bharat Heavy Electricals: The company has extended its gas turbines technology agreement with General Electric Technology GmbH Switzerland. Under this extension, BHEL has gained access and enhanced rights for existing, uprated and new gas turbine models.
Aurobindo Pharma: Company’s breast cancer biosimilar product, BP02 Trastuzumab, developed by unit Curateq Biologics has met its primary endpoint in Phase III clinical trials and has shown equivalent efficacy to Herceptin biosimilar.
Bata India: The company has approved the appointment of Anil Ramesh Somani as chief financial officer for a period of five years from April 25, 2023.
Manali Petrochemicals: The company has inked two captive power agreements with two separate units of First Energy for procurement of wind power and solar power for a total consideration of Rs 356.4 lakh.
HPCL Rajasthan Refinery Limited executes a loan agreement under a consortium arrangement for Rs 48,625 crore
Som Distilleries to consider raising funds via equity warrants on July 8
RBLBank Q1 Biz Update: Total deposits up 8% at Rs 85,638 cr Vs Rs 84,887 cr (QoQ)
AU Small Fin Bank Q1: Total deposits up 27% at Rs 69,315 cr Vs Rs 54,631 cr (YoY)
Hewlett Packard Enterprise announces its plans to begin manufacturing high-volume servers in India
Lemon Tree signs licence pact For A 48-room Property In Udaipur, Rajasthan
Macrotech Developers Q1 Biz Update: Pre-sales up 17% YoY & down 11% QoQ, at Rs 3,350 cr
Collections down 8% YoY & down 18% QoQ, at Rs 2,400 cr
Net debt down 18.1% at Rs 7,260 cr Vs Rs 8,860 cr (YoY)
SuzlonEnergy to consider fund raising on July 7 by way of one or more or combination of permissible methods
Lupin gets US FDA nod for its ANDA Dolutegravir tabs for oral suspension & to market generic equivalent of Tivicay PD tabs for oral suspension
IOC to consider raising funds via RightsIssue on July 7
Market Indication
Market Indication:
Global: FLAT to NEGATIVE
NIFTY: FLAT to NEGATIVE
BANKNIFTY: FLAT to NEGATIVE
BULK Deals: Minda Corporation, Global Surfaces etc.
Stocks In F&O Ban Period: Indiabulls Housing Finance
Results Today: Nil
GIFT NIFTY: (Negative)
19488 -24.00 -0.12%
Nifty 12 points Down open
Nifty 12 points Down open.
Banknifty 91 points Down open.
SENSEX 47 points Down open.
Wednesday, July 5, 2023
Buy : Banknifty
📈 Buy : Banknifty 6th july 45400PE
📊 Current Price : 290
🎯 Target : 340 , 390
☠️ Stoploss : 230
Advisory Desk
Advisory Desk 5th July 2023
Market Outlook: US futures were trading flat as the cash market was closed yesterday due to a public holiday. Today's release of the FOMC meeting minutes will offer additional insights into the FED's position on inflation, economic growth and interest rates. Meanwhile, Asian markets began with a flat to negative opening ahead of the release of major economies PMI data including India's service PMI. GIFT Nifty is indicating a slightly positive opening. Yesterday, we have witnessed some cool-off in the broader markets due to profit booking. However, buying interest seen at the lower levels. Overall, we expect the momentum to continue with intermittent minor declines.
Actionable: Buy Bank of Baroda, LTIMindtree ltd, Jindal steel and power ltd.
Global market:
DOW: 34418 (unchanged)
GIFT NIFTY: + 10 (prev. close 19493)
NIFTY 50 : 19389
Sensex : 65479
Institution:
FII: + 2134 Cr
DII: - 785 Cr
NSE:
Advances: 1567 / Declines: 1945
Currency:
Dollar: $ 82.02
Dollar Index: 103.14
Commodity:
Gold: $ 1931 per ounce
Crude: $ 75.85 per barrel
Bonds:
10 year US bond rate: 3.84
10 year Indian Bond rate: 7.12
Derivative:
PCR: 1.30
VIX: 11.70
Updates:
HDFC Bank - Q1 Business Update - The Bank’s advances jumped around 15.8% YoY, 0.9% QoQ. Domestic retail loans grew by 20% YoY, 4% QoQ. Deposits grew by 19.2% YoY, 1.6% QoQ. CASA grew by 10.7% YoY and were lower by around 2.7% QoQ. CASA ratio stood at around 42.5% vs 45.8% last year and vs 44.4% March quarter. Bank purchased loans aggregating ₹ 116.32 billion through the direct assignment route under the home loan arrangement with HDFC.
IndusInd Bank - Q1 Business Update - June quarter Net advances up 21% YoY, 4% QoQ. Deposits up 15% YoY, 3% QoQ. CASA Ratio at 39.9% from 43.2% last year.
LTIMindtree: The Index Maintenance Sub-Committee (Equity) of NSE Indices has decided to exclude HDFC and include LTIMindtree in the Nifty50 with effect from July 13. Jindal Steel & Power is going to replace HDFC in the Nifty 100 index.
AU Small Finance Bank - Q1 Business Update - Gross advances rose 29% YoY, 8% QoQ. Deposits grew 27% YoY and flat for QoQ. CASA grew by 14% YoY and decline by 9% QoQ. Average cost of funds (COF) for Q1was 6.58%, an increase of 29 basis point over COF of Q4’FY23 at 6.29%. During the quarter, the Bank opened 49,000+ savings account via Video banking + AU 0101.
RBL Bank - Q1 Business Update - Total deposits grew up by 8% YoY, 1% QoQ. Gross Advances jumped by 20% YoY, 4% QoQ. Retail advances grew 32% YoY while wholesale advances grew 8% YoY. CASA grew by 12% YoY, 1% QoQ.
Bandhan Bank - Q1 Business Update - Loans and advances grew nearly 7%, while total deposits rose 16.6%. Retail deposits up 10.6%, while bulk deposits rise 55.4% YoY. CASA ratio at 36% from 43.2% YoY. In other news, the Bank's chief financial officer Sunil Samdani resigned with effect from October 1, 2023.
Indian Oil Corporation Ltd (IOC) : said a meeting of its board members is scheduled on Friday to consider raising of capital through right issue of equity shares to meet the capital expenditure plan for its various projects.
Strides Pharma Science: on Monday said it has entered into a binding agreement to sell biologics Unit-3 manufacturing facility of its associate company Stelis Biopharma (SBL) to Syngene International on a slump sale basis for ₹702 crore in an all cash deal. The sale will help Strides in paring its debt.
Genus Power - Signs definitive agreements with Gem View Investment Pte Ltd., an affiliate of GIC Singapore to set up a platform for undertaking advanced metering infrastructure service provider concessions. GIC will hold 74 percent stake in the platform. Initial pipeline will have a capital outlay of $2 billion. Chiswick Investment, another GIC affiliate will invest up to Rs.519 crore via preferential warrant allotment.
Securities in ban: IBULHSGFIN.
Derivative View: On option front, weekly maximum Call OI is at 19400 then 19500 strike while Maximum Put OI is at 19300 then 19000 strike. Option data suggests an immediate trading range in between 19250 to 19500 zones.
News and Impact
News and Impact
· Upbeat quarterly earnings update by corporates, persistent FIIs inflow and impressive domestic economy data may open domestic market on a positive note. Among the global markets, Asian markets edged lower on Wednesday in subdued trading following a holiday for US markets, while investors look ahead to the release of private surveys on services in China and Japan. US nonfarm payrolls data will be announce on Friday, which may offer fresh hints on the Federal Reserve’s monetary-policy path. On the domestic front, the Indian market scaled record high for the fourth consecutive session on Tuesday led by robust foreign capital inflow amid optimism over the country’s bright macroeconomic outlook. Gift Nifty is flat to positive. Traders buy on dips strategy in the market and focus on mid- and small cap counters. Brent crude spiked to 2-week high at above $76/bbl is a concern. Expects rally on PSU Banks to continue on account of improve asset quality and hope of good quarterly results. Beaten down IT stocks are looking attractive on account of favourable risk reward ratio. Nifty has been making higher highs - higher lows from last five trading sessions and has recently rallied by around 800 points in last five trading sessions. Nifty has to continue to hold above 19300 zones to extend the move towards 19450 and 19500 zones.
· US Market U.S. markets closed yesterday for the Independence Day holiday.
· Global market summary – Central bank of Australia kept interest rates unchanged. Brent crude 2-week high
· Asian Market – Asian equities opened lower today in subdued trading following a holiday for US markets. Stocks marginally fell in Japan, South Korea, Hong Kong and Australia, along with futures for the S&P 500 and Nasdaq 100.
· European Market – European stocks edged marginally lower in thin trading as investors looked ahead to the monthly report on US employment for clues how high interest rates will rise this year. UK, France and Germany Index slipped 0.2% each.
· Oil – Oil rising more than 2% to 2-week high at $76/bbl on Saudi Arabian and Russian output cuts, with traders waiting for commentary from Saudi Energy Minister Prince Abdulaziz bin Salman.
· Gold – Gold held steady at $1925/ounce in subdued trading as traders look ahead to Friday’s US nonfarm payrolls report, which may offer fresh hints on the Federal Reserve’s monetary-policy
· path.
· Previous Day market Update –Equity benchmark index rose for the fifth consecutive session, extending their winning run to close at new record highs amid optimism over faster economic growth and foreign buying. Indices gained for a fifth straight day, the longest gaining streak in two months. There was renewed buying in Hero Motocorp, Bajaj Twins, Tech Mahindra, TCS and Infosys lifted Nifty nearly half percent. Upbeat quarterly earnings update by corporates, persistent FIIs inflow and impressive domestic economy data have positive impact in the markets. Moreover, expectation of US Fed to soften stance on hike in interest rate after fall in inflation while US market is shut today on account of National Holiday. Today, Central Bank of Australia kept interest rates unchanged. Sensex jumped 274 points or 0.40 per cent to settle at its all-time closing high of 65,479. During the day, the benchmark surged 468 points or 0.70 per cent to hit its lifetime intra-day peak of 65,673. Nifty climbed 66 points or 0.34 per cent to end at a fresh record high of 19,389. During the day, it advanced 112 points or 0.60 per cent to hit its all-time intra-day peak of 19,434. Both PSU Bank and IT stocks were major gainers today. Nifty 500 stocks advance decline ratio was 1.4:1. FIIs were Rs1996cr while DIIs were net sellers Rs338cr previous day.
· Nifty Technical Levels – Nifty respected support of 19300 zones to finally give the highest ever closing with gains of around 70 points. It has been making higher highs - higher lows from last five trading sessions and has recently rallied by around 800 points in last five trading sessions. Now it has to continue to hold above 19300 zones to extend the move towards 19450 and 19500 zones while on the downside support shifts higher at 19250 and 19100 zones.
· Bank Nifty Technical Levels – Bank Nifty formed a High Wave Doji on daily scale with long upper and lower shadow as it remained volatile in a wider range of 400 points but higher highs - higher lows formation is intact from the past five sessions. Now it has to continue to hold above 45000 zones for an up move towards 45500 then its recent life high of 45650 zones while on the downside support shift higher at 45000 then 44750 levels.
· Indian oil - Company to consider right issue and fund raising plan on July 7th Board meeting – positive
· Actionable BUY –Poonawala, FACT, Bank of Baroda, Lodha, BHEL
· Brokers Radar – Morgan Stanley TGT on Samvardhana Motherson at80, Jefferies TGT on Hero Motocorp at 3500, Axis Bank TGT by Jefferies at 1200. Bandhan Bank TGT by Nomura at 325, Citi TGT on Samvardhana Motherson at 65, CLSA TGT on Samvardhana Motherson at 102, nom, Macquaire TGT on LTIMindtree at 7300. Jefferies TGT on Bandhan Bank at 340. Atul Auto TGT by Philips Securities at 5600, Navin Fluorine TGT by CITI at 5600, Aster DM TGT by HSBC at 330
· Events – Service PMI and Composite PMI. Maruti and Bajaj Auto to launch new variant car, Hatsun Agro board meeting for non-core asset sale. Senco Gold IPO fist day subscribed 69%.
· Corporate Action - Sadhana Nitrochem – Bnous 2:9. Bhansali Engineering- Bonus 1:2.
· Global Data – Car Registration, Composite PMI and Constriction PMI (UK). Service PMI and Composite PMI (Germany). Industrial Production (France). Manufacturing Productio, Composite PMI, Service PMI (France). Composite PMI and Service PMI (China)
· Market Summary – Macrotech Developers Limited achieves best ever Q1 pre-sales performance , Samvardhana Motherson to buy 81% in Honda Motor Unit, SBI to Buy SBICAP Ventures From Unit for $86.3M in Cash , Piramal Capital sells bad loans to Omkara ARC. GIC, Genus Power Infra tie up to invest $2 bn in smart meter venture, LTIMindtree to Replace HDFC in Nifty 50 From July 13, NSE Says, Biocon in talks to acquire 37% stake in Stelis Biopharma for Rs 800 crore.
· Dabur: Fast-moving consumer goods company Dabur India added five new brands with sales greater than ₹100 crore in FY23, the company said in its fiscal 2023 annual report released to the exchanges on Tuesday. – positive
· Mahindra & Mahindra: Mahindra & Mahindra reported a 21 per cent increase in domestic passenger vehicle sales at 32,588 units in June 2023, as compared to June last year. The company sold 26,880 units of passenger vehicles in June 2022 - positive
· Strides Pharma - -- Biocon Ltd is in talks with Strides Pharma Science to acquire its 37 per cent stake in its biopharmaceutical division, Stelis Biopharma, in a deal estimated at Rs 800 crore, investment banking sources said on Tuesday. – Strides gained 8% yesterday.
· SAIL: Steel Authority of India (SAIL) reported an eight per cent year-on-year growth in its crude steel production at 4.667 million tonnes (MT) during the first quarter of fiscal 2023-24. - positive
· Genus Power - GIC, Singapore, has launched a new platform in India to fund smart metering projects in the country. The leading global investment firm has joined hands with Genus Power, to set up the platform. GIC will hold a 74 per cent stake; the balance will be Genus. The partners have committed to an initial pipeline with a capital outlay of $2 billion, and Genus would be the exclusive supplier to the platform for smart meters and associated services – positive.
· LTIMindtree and LIC Hosuing- LTIMindtree to replace HDFC in Nifty 50 from July 13, NSE Says. The housing finance company will also be replaced from the Nifty Financial Services index from July 13, following its merger with HDFC Bank, by LIC Housing Finance, the stock exchange said in a statement. - positive for LTI Mindtree and LIC Housing.
· BHEL - BHEL has extended its Gas Turbines technology agreement with General Electric Technology GmbH Switzerland. BHEL in partnership with GE is the market leader for Gas Turbines in India. - POSITIVE
· Macrotech Developers Limited achieves best ever Q1 pre-sales performance -Business performance for the period ended Q1 FY2023-24. Pre-Sales: Lodha achieved its best ever Q1 pre-sales performance of INR 33.5 bn showing a growth of ~17% on a YoY basis, in line with our guidance of 20% full-year sales growth. Collections: Collections were INR 24.0 bn for 1QFY24. We added 5 new projects having ~7.1 million sq. ft. of saleable area with GDV of INR ~120 bn across different micro-markets. Net debt: Our net debt stands at INR 72.6 bn, increasing marginally primarily on account of front loaded business development investment – Positive
· RBL Business Update – Total deposits of the bank was at Rs. 85,638 crores as of June 30, 2023 as against Rs. 79,216 crores as of June 30, 2022, a growth of 8% YoY. Gross Advances was at Rs. 74,792 crores as of June 30, 2023 as compared to Rs. 62,110 crores as of June 30, 2022, a growth of 20% YoY. Retail advances grew 32% YoY while wholesale advances grew 8% YoY - for the quarter ended June 30, 2023. – Positive
· Piramal Capital sells bad loans to Omkara ARC - Piramal Capital & Housing Finance has sold a loan outstanding pool of Rs3,656 crore bad loans to Omkara ARC for Rs625 crore – ET Report. The sale, finalised last week, marks a recovery of 17% for Piramal. The pool consists of accounts acquired along with Dewan Housing Finance Limited (DHFL) and Piramal's own loan book.
· Samvardhana Motherson - Company will buy an 81% stake in the four-wheeler business of Honda Motor Co. unit Yachiyo Industry at a valuation of Rs2290crbn yen or $159mn. Honda, which currently holds 50.4% equity in Yachiyo, will buy the entire stake in the publicly-traded company via a tender offer, and transfer the two-wheeler business of Yachiyo to itself.
· Aurobindo Pharma has announced that the breast cancer biosimilar product, BP02 developed by its wholly owned subsidiary company, Curateq Biologics Pvt, has met its primary endpoint in Phase 3 clinical trial – Positive development
· G R Infraprojects - Company agreement with the East Coast Railway for execution of the project "Construction of Tunnel work between Km. 153.0 to 180.0 (Adenigarh - Purunakatak) consisting of Tunnel With estimated project cost is Rs. 587.59 crores. - positive
· BHEL - Mr. Krishna Kumar Thakur, 49, has assumed charge as Director (Human Resources) of the Public Sector engineering and manufacturing enterprise.- Positive
· NBCC - Company inked an MOU with Currency Note Press (CNP) under Security Printing and Minting Corporation of India for Planning, Designing and Execution of Upcoming works such as State of Art Museum, Infrastructure development works at Currency Note Press (CNP) Nasik. - positive
· SAIL – Company signed a contract with mjunction services limited to roll out its e-procurement platform, mjPRO, across all the five ISPs for their project buys. – long term positive
· HPL Electric & Power – Company announces the successful acquisition of INR 903 crores (inclusive of Tax) smart meter orders. These orders further bolsters HPL's total pending pipeline order book, now totaling INR 2250+ crores as of the date of this release.
· Lupin – Company announced that it has received tentative approval from the U.S. FDA for Dollutegravir tablet. Dolutegravir Tablets for Oral Suspension had estimated annual sales of USD 1 million in the U.S. (IQVIA MAT March 2023). – Positive
· SBI – Company will acquire SBICAP Ventures (SVL) from unit SBI Capital Markets at an estimated Rs708cr in cash. SVL's asset under management (AUM) stood at Rs33,054 crore in FY23, compared to Rs26,811 crore in FY22. Last week, on June 28, SBI proposed for acquisition of a 20% stake in SBI Pension Funds (SBIPFPL), currently held by SBICAPS. – positive
· TCS – Company is set to initiate the Q1FY24 earnings season by disclosing its financial results on July 12. As per brokerage firm Jefferies, the Tata Group's subsidiary might unveil a share buyback program along with its earnings announcement.- Bloomberg Report.
· Bandhan Bank – Company’s CFO Samdani resigns effective Sept 30 - Avoid
· Zydus Life – Company has received final approval from the U.S. FDA for Oxcarbazepine tablets Oxcarbazepine tablets are used alone or with other medications to treat epilepsy – positive
· Tanla Platforms – Company acquired ValueFirst Digital Media Pvt Ltd from U.S.-based communications technology company Twilio for Rs20cr. It had earlier announced that it had entered into a definitive agreement with Twilio to acquire 100% equity of ValueFirst Digital Media for $42 million or approximately Rs 344.19 crore. – positive
· Adani Green Energy: The board will consider approving fundraising via issue of equity shares or any other mode including private placement, QIP and preferential issues on July 6.
· Reliance Industries: Reliance Jio launched an internet-enabled phone at Rs 999. The beta trial for the first 1 million Jio Bharat phones will begin on July 7. It includes unlimited voice calls and 14 GB of data for Rs 123 per month. – positive
· Precision Camshafts – Company has announced that the 15 MWp Captive Solar Power Plant installed at Mangalwedha, Solapur is now in operations. The said Solar Power Plant will reduce the cost of electricity required for the production and it will also help Company in generation of Green Energy and reducing the Carbon Footprint – positive
· NBC – Company said the external affairs ministry has sanctioned Rs 261.71 crore for redevelopment of a housing complex in central Delhi. – positive
· Suzlon – Company to consider capital rising on July 7 board meeting – Avoid due to poor balance sheet.
· Torrent Power: The company is implementing the Green Hydrogen Pilot Project to blend CGD. The Gorakhpur-based project will be completed in eight months. It will mix 2.5% into the CGD network. Aims to become an end-to-end green hydrogen solutions provider to commercial and industrial consumers. - Positive
· Vedanta: Total aluminium production in Q1 of fiscal 2024 rose 2% year-on-year to 579 kilo tonne. Mined metal output gained 2% from last year to its highest-ever level of 257 kilo tonne. – we are positive on Hindalco, Nalco
· Sula Vineyards: The company appointed Karan Vasani as its chief operating officer. The appointment was followed by the resignation of the present COO, Chaitanya Rathi – positive .
· IOL Chemical - Credit Analysis & Research Ltd has reaffirmed IOL Chemicals and Pharmaceuticals Ltd long-term Rating to ' A+' with a stable outlook – positive
· Au Small Finance Q1 Business Update - Total deposits of bank stood at Rs. 69,315 crores as of June 30, 2023 compared to Rs. 54,631 crores as of June 30, 2022, registering a growth of 27% YoY. Gross Advances was at Rs. 63,635 crores as of June 30, 2023 as against Rs. 49,349 crores as of June 30, 2022, a growth of 29% YoY. Average cost of funds (COF) for Q1'FY24 was 6.58%, an increase of 29 basis point (bps) over COF of Q4'FY23 at 6.29%. Management Commentary - Q1'FY24 saw gradual improvement in inflationary pressures amidst resilient macro-economic indicators. – positive
Derivatives update
*Derivatives update*
Good morning !!
Derivatives update for Wednesday, 5th July 2023.
India VIX was up by 1.39% from 11.54 to 11.70 levels. Volatility slightly moved up as index geared its move for new high territory and Call writers are paining with surge in Call IV.
Nifty *Put/Call Ratio* (OI) decreased from 1.48 to 1.47 level.
On weekly front, Maximum Call OI is at 19400 then 19500 strike while Maximum Put OI is at 19300 then 19000 strike. Minor Call writing is seen at 19400 then 19550 strike while Put writing is seen at 19400 then 19350 strike.
*Option data suggests a broader trading range in between 19100 to 19600 zones while an immediate trading range in between 19250 to 19500 zones.*
For weekly Bank Nifty, Maximum Put OI is at 43000 then 45000 strike and maximum Call OI is placed at 46500 then 47000 strike. We have seen minor Call writing at 47000 with unwinding at 45200 and Put writing is witnessed at 45300 strike.
Bank Nifty Put Call Ratio decreased from 1.40 to 1.38. Implied volatility rose from 13.7 to 14.2 levels.
Bank Nifty (CMP 45,301.45)
Data setup for Bank Nifty suggests a trading range in between *44750/45000 to 45500/45650 zones.*
Looking ahead at the FII’s derivatives activity, there was long built up in index futures, position unwinding in index options and short built up in stock futures.
In the cash market, FIIs were net buyers to the tune of 2134 crores while DII’s were net sellers worth 785 crores. FIIs Index Long Short Ratio increased to 71.89%.
Derivatives data and price set up suggests, Nifty has to continue to hold above 19300 zones to extend the move towards 19450 and 19500 zones while on the downside support shifts higher at 19250 and 19100 zones.
Bank Nifty has to continue to hold above 45000 zones for an up move towards 45500 then its recent life high of 45650 zones while on the downside support shift higher at 45000 then 44750 levels.
Thank you. Have a great trading day ahead..!!
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