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Thursday, May 25, 2023

News and Impact

News and Impact 
 
 
·      Mixed bag opening in the Asian markets and strong gained Nasdaq Future may open domestic market on a flat note despite sharp decline in US and European market yesterday. Nasdaq Future climbed up nearly 200 points or 1.5% after one of the largest semiconductor player Nvidia gave a bullish revenue outlook for the current quarter on booming demand for artificial intelligence processors. Its shares soared more than 25% in late trading. Overnight, US market declined over half percent and European markets ended 2-month low (down 2%) as debt-ceiling concerns weighed on investors sentiment for a second day and hotter-than-expected UK Inflation. Among the Minutes of meeting outcome, US Federal Reserve officials were divided at their last meeting over where to go with interest rates, with some members seeing the need for more increases while others expected a slowdown in growth to remove the need to tighten further. US Dollar Index surged to 2-month high and US Vix gained 8% to close above 20 level. Fitch Ratings said it may downgrade the US’s AAA credit rating which is a also concern in the global markets. SGX Nifty declined by 45 points or quarter percent. Domestic sentiment remain bullish due to strong FIIs buying interest and impressive quarterly results. FIIs were net buyers yesterday over Rs1000cr and nearly Rs20000cr during the month of May, highest since last five months. Yesterday, Sensex decline over 200 points but BSE Mid-cap Index closed on a record high. Moreover, Nifty 500 stocks advance decline ratio was 1:1. Expects, rally on mid-cap and small cap stocks to be continue due to good quarterly results and stock specific action to continue. Intra-day volatility may not be ruled out on ahead of May series F&O expiry today. US Q1 GDP data will be release today. Expects weakness in the metal stocks due to base metal price on LME fell to 3-6 months low. IT stocks may positive after one of the largest global semiconductor player Nvidia announced strong quarterly results and a bullish revenue outlook. Government allowed the exports of broken rice may  be positive for rice exports companies. 
 
·      US Market –. US equities closed lower in New York trading as debt-ceiling concerns weighed on investors sentiment for a second day. Both Nasdaq and Dow Index declined over half percent each. Minutes from the Federal Reserve’s latest policy meeting did little to lift shares, with policymakers split on whether further interest-rate increases would be needed to tame inflation.
 
·      Global market summary – US Volatility Index (US Vix) close 2-week high of above 20 (gain 8%), European Market closed on a 2-month low, UK Inflation during the month of April at 8.7% while the expectation was 8.2%.  One of the largest semiconductor player Nvidia forecast sales in the three months ending July of $11 billion vs the analyst estimate of $7.18 billion. Base metal price on LME fell to 6-month low. US Dollar Index spiked to over 2-month high.
 
·      Asian Market – Asian markets are witnessing mixed bag. Asian semiconductor-related stocks climb after one of the largest semiconductor player Nvidia gave a bullish revenue outlook for the current quarter on booming demand for artificial intelligence processors. Its shares soared more than 25% in late trading.
 
·      US AAA Credit Rating May Be Cut by Fitch on Debt-Limit Impasse -  Fitch Ratings said it may downgrade the US’s AAA credit rating to reflect the worsening political standoff that’s preventing a deal to solve the nation’s debt-ceiling crisis.
 
·      European Market – -- European stocks fell the most in more than two months as a stalemate persisted in US debt-ceiling talks, while a hotter-than-expected UK consumer prices report rekindled concerns over inflation. UK Inflation during the month of April reported at 8.7% while the expectation was 8.2%. 
 
 
·      Oil –  Oil futures traded higher by 2% to $78/bbl after Saudi Arabia's energy minister warned of pain ahead for short sellers. Support also came from industry data showing a drop in U.S. crude and product inventories ahead of an official tally from the Energy Information Administration.
 
·      Gold –  Gold fell 1% to $1956/ounce as investors assessed progress on US debt-ceiling negotiations. President Joe Biden and House Speaker Kevin McCarthy called their discussions on Monday productive, but an agreement remains elusive.
 
·      Previous Day market Update - After a rally in the three trading sessions, equity benchmarks Index settled in negative territory following weakness in the global markets amid concern of US debt ceiling negation, hotter-than-expected UK inflation print and ahead of US Fed minutes of meeting to be release today. Traders were booking profit ahead of May series F&O expiry tomorrow which resulted India Vix surged by 4% today. Sentiment has been dampened on account of across the global markets along with US future decline after the U.S. debt-ceiling talks have failed to make sufficient progress and there are growing risks of a U.S. default. Moreover, surging UK Inflation during the month of April (April Inflation at 8.7% while the expectation was 8.2%) and the overnight US Vix spiked by 8% have negative impact in the market.  Sensex finished the day at 61,775, down by 208 points or 0.30% while Nifty shed by 63 points or 0.3% to close at  18,285. Banks and metal stocks were major losers today while Nifty Mid-cap and small cap Index managed to ended positive territory. Tyre stocks witnessed smart rally today. HDFC Bank, HDFC, ICICI Bank, and Reliance Industries among the major losers while ITC, Titan, Sun Pharma, and SBI Life among the major gainers today. Nifty 500 stocks advance decline ratio was 1:1. Yesterday, both FIIs and DIIs were net buyers Rs1186cr and Rs301cr respectively. 
 
·      Nifty Technical Levels -  Nifty formed a long pin bar on daily scale with higher upper shadow indicating pressure at higher zones. It negated its higher highs - higher lows formation of the last two sessions. Now it has to hold above 18281 zones, for a bounce towards 18400 and 18442 zones while on the downside supports exist at 18181 and 18081 zones.
 
·      Bank Nifty Technical Levels – Bank has formed a small bearish candle on daily scale with upper shadow as selling pressure is seen at upper band of the range and it ended in negative territory below 43700 zones. Now it has to hold above 43750 zones for a bounce towards 44144 then 44250 zones while a hold below the same could see some weakness towards 43500 then 43333 marks.
 
·      Actionable BUY – Engineers India, Zomato, NBCC, KRBL
 
·      Brokers Radar –  Hindalco – CLSA TGT at 530. Nykaa – Goldman Sachs TGT at 175, Nomura TGT at 183 and Macquarie TGT at 115. UBS TGT on Tata Motor at 450.
·      Events – May series F&O expiry, Whirlpool Results and board meeting for bonus.
 
·      Results –   AIA Engineering, Bharat Dynamics, Eclerx, Emami, FDC, Global Spirits, GMM Pfaudler, GSFC, IEX, Ingersoll Rand, Kolta-Patil, Lincon Pharma, Page Industries, Price Pipe, Radico Khaitan, Triveni Engineering, TTK Prestiage and Zee Entertainment,
 
·      Corporate Action  - Trent Rs2.20, Kennametal Rs20, Kansai Nerolac Rs2.70, SNL Bearing Rs6.50, NMDC Rs2.85, Roto Pumps Rs3.15, Polyplex Rs3, Amaraja Batteries Rs3.20, Galaxy Surfactants Rs4, Gandhi Special Tubes Rs12, Linde India Rs12, Jenburkt Pharma Rs14.40
 
·      Global Data – Initial Jobless Claims, Annualized GDP, Pending Home sales, Personal Consumption (US), Housing Price Index (UK). Business Confidence and Manufacturing Confidence (France). Private Consumption and Government Spending  (Germany)
 
·      Market Summary – Brigade Enterprise (BEL) reported highest ever bookings, Cummins India skipping guidance for FY24, Deepak Nitrite announces on $600M Capex Plan, Oberoi Realty Signs Pact to Acquire Land in Thane, RBI Rate Decision to Depend on Situation on Ground, Das Says. M & M sold entire 3.2% stake yesterday via block trades yesterday and sets offer price at Rs430-452.85 a share. M&M sold entire Mahindra CIE 3.2% stake yesterday via block deal, Hindalco, Cummins India announced lower than expected Q4 results, Bikaji Food announced impressive Q4 results. JB Chemical announced better than Bloomberg expected Q4 Ebitda 
 
·      Adani Group – Company commits to a total of about $10b in long-term investment into logistics, ports, energy and technology sectors in Vietnam – Long term positive
 
·      Garden Reach Shipbuilders – Company wins order worth Rs248.5cr– positive
 
·      Aptech – Company announced bonus in the ratio of 2:5
 
·      Cummins India - The company will not provide any guidance for fiscal year 2024 at this time considering the uncertainty related to the geopolitical and supply chain conditions that remain unpredictable – stock decline yesterday by 5% after the news
 
·      Wipro – Company announced a partnership between its Engineering Edge business line and Spartan Radar, an automated mobility sensor software provider, to build advanced vehicle solutions - Positive
 
·      Mahindra CIE – Mahindra CIE Automotive- Promoter, the Mahindra Group. M & M sold entire Mahindra CIE stake of 1.21cr shares, or a 3.19% stake at Rs 447.65 a share worth Rs520cr via block trades yesterday. Mahindra's stake in the automotive component supplier now stands at NIL – Positive
 
·      Deepak Nitrite announces on $600M Capex Plan - Deepak Nitrite announced a Rs5000cr ($600 million) capital expenditure plan. The company said it has signed a memorandum of understanding with India’s Gujarat state for setting up specialty chemicals, phenol and bisphenol units over the next four years
 
·      HG Infra – Company wins orders worth Rs42.5cr from NTPC - Positive
 
·      RBI Rate Decision to Depend on Situation on Ground, Das Says - India’s monetary policy decision will be based on the situation on ground, RBI Governor Shaktikanta Das said. “I’m driven by what’s happening on ground, what’s the outlook on ground, what are the trends, how is the inflation softening,” he said .  Indian banking system remains stable and resilient . India’s FY23 GDP growth could be more than 7%
 
·      Oberoi Realty Signs Pact to Acquire Land in Thane, India – Company has entered into a memorandum of understanding with NRB Bearings to acquire land of 25,700 square meters at Thane in Maharashtra. The real estate company has paid a portion of undisclosed amount of the consideration for the land. The balance will be paid on completion of the transaction, which is subject to certain terms and conditions – positive
 
·      Bajaj Electricals Expects Demand, Margin To Improve In Two Quarters - Bajaj Electricals Ltd. expects margins to improve in the next two quarters if commodity prices continue to ease and as consumption revives. As demand improves gradually, Prasad said, margins will also recover unless volatility in commodity prices reoccurs. – Positive
 
·      Route Mobile Targets Billion-Dollar Revenue In 3-4 Years On Cloud, AI Push - Route Mobile is on track to achieve a billion-dollar revenue run rate in the next three to four years, as communications platform-as-a-service increasingly becomes the backbone of the enterprise communications ecosystem. – Long term positive
 
·      JB Chemical – Company announced stock split each share into two. Company announced impressive Q4 results - Positive
 
·      Dividend – Hindalco Rs3, Cummins India Rs13, JB Chemical Rs9.25
 
·      BLS International - Overseas travel boom takes Indians' foreign currency spends to record highs - Overseas travel after the pandemic has risen to record highs and so has the foreign currency spends by Indians. The overall foreign currency spends by Indians rose by $7.5 billion to a record high of $27.1 billion in FY23. Foreign currency spends were at about $19.6 billion in FY22 and $12.7 billion in FY21 largely due to subdued travel amid the pandemic. With the waning of the pandemic, there has been a surge in overseas travel, which jumped to $13.7 billion in FY23, an increase of 97% from $6.9 billion in FY22, the report showed. – Positive on BLS International
 
·      India Cement Q4 Net loss Rs217.8cr vs loss Rs237.1cr – expectation loss Rs140cr, one time loss Rs114cr, other income Rs18.42cr (up 291% YoY), Ebitda loss Rs44.5cr vs profit Rs60cr (YoY) – expectation loss Rs60cr and Income Rs1460.5cr (up 4.9% YoY) – expectation Rs1400cr
 
·      Bikaji Food announced better than Bloomberg estimates Q4 results. Company reported Q4 Revenue up 15.49% at Rs 462.26 crore (Bloomberg estimate: Rs 511.60 crore), Ebitda up 52.39% at Rs 61.84 crore (Bloomberg estimate: Rs 55.80 crore),  Ebitda margin at 13.38% vs 10.14% (Bloomberg estimate: 10.9%) and Net profit up 57.12% at Rs 38.29 crore (Bloomberg estimate: Rs 33 crore)
 
·      Hindalco Consolidated Q4 Net profit Rs2418cr (down 37% YoY) – expectation Rs2300cr, Ebitda at Rs5820cr (down 20% YoY)- expectation Rs6100cr, Ebitda margin 9.5% vs 13.1% (YoY) – Expectation 11.4% and Income Rs55860cr (up 0.2% YoY) – expectation Rs53500cr
 
·      Cummins India Q4 Net profit Rs318.5cr (up 69% YoY) – Bloomberg expectation adj. net profit Rs345cr, Ebitda Rs326cr – Bloomberg expectation Rs335cr, Ebitda margin at 17%  vs 13.8% (YoY) and Income Rs1926cr (up 29% YoY) – Bloomberg expectation Rs2021cr
 
·      Nykaa Q4 Net profit 2.4cr (down 72% YoY) – Bloomberg estimates Rs9.76cr, Ebitda Rs70.6cr (up 84% YoY) – estimates Rs70.70cr, Ebitda margin 5.4% vs 4% (YoY) and Income Rs1300cr (up 34% YoY) – Bloomberg estimates Rs1351cr
 
·      JB Chemical announced better than Bloomberg expected Q4 Ebitda. Company reported Q4 net profit 87.63cr (up 3.3% YoY) – Bloomberg expectation Rs102cr, Ebitda Rs181cr (up 21% YoY) - Bloomberg expectation Rs175cr, Ebitda margin flat at 23.8% vs 23.8% (YoY) and Income Rs762cr (up 22% YoY) – Bloomberg expectation Rs762cr
 
·      Brigade Enterprise (BEL) reported highest ever bookings of Rs1490cr  up 47% (YoY ) - 26% above estimate. Company reported Q4 Revenue Rs842cr (down 11% YoY)- expectation 949.4cr, EBITDA Rs202cr (up 1% YoY) – Expectation Rs255.7cr, Ebitda margin at 24% vs 21.8% - expectation 26.9% , PAT reported Rs70cr while adjusted for exceptional gain of Rs17cr, PAT stood Rs50cr (up 5.3% YoY) – expectation Rs94.7cr
 
·      Aptech announced strong Q4 results. Company reported Q4 net profit Rs33.35cr (up 88% QoQ) and Income Rs181.5cr (up 51% QoQ).
 

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

◆ Nifty index opened gap down and was followed by buying interest but it failed to surpass 18400 zones and slipped in the next half of the session. It cascaded down most part of the day and it closed with losses of around 60 points. It formed a long pin bar on daily scale with higher upper shadow indicating pressure at higher zones. It negated its higher highs - higher lows formation of the last two sessions

◆ Now it has to hold above 18281 zones, for a bounce towards 18400 and 18442 zones while on the downside supports exist at 18181 and 18081 zones

◆ India VIX was up by 4.07% from 12.60 to 13.11 levels. Volatility has been rising from the last three sessions and causing swings in the market

◆ On Option front, monthly maximum Call OI is at 18400 then 18500 strike while maximum Put OI is at 18300 then 18200 strike. Call writing is seen at 18400 then 18300 strike while Put writing is seen at 18200 then 18300 strike. Option data suggests an immediate trading range in between 18150 to 18400 zones

◆ Bank Nifty opened on a negative note but gradually recovered its intraday losses and extended its movement towards 44000 zones in the first half of the session. Later it failed to hold 44000 zones and drifted lower towards 43650 zones in the last hour of the session. Index has got stuck in between 43333 to 44144 zones from the past ten trading sessions and follow up is missing on either side. It has formed a small bearish candle on daily scale with upper shadow as selling pressure is seen at upper band of the range and it ended in negative territory below 43700 zones

◆ Now it has to hold above 43750 zones for a bounce towards 44144 then 44250 zones while a hold below the same could see some weakness towards 43500 then 43333 marks

◆ Bullish setup in Deepakntr, L&TFH, Syngene, Havells, Mcdowell, Apollo Tyre, Indusind Bank, Indhotel, Coal India, ITC, Heromotoco, TVS Motor, BEL, Maruti, IOC, AU Bank and Axis Bank

◆ Bearish setup in Cummisnind, India Cement, Jindalstel, Federal Bank, ZEEL, HDFC Bank, HDFC Ltd and Kotak Bank

Derivatives update 25 May 2023

*Derivatives update*

Good morning !! Derivatives update for Thursday, 25th May 2023.

India VIX was up by 4.07% from 12.60 to 13.11 levels. Volatility has been rising from the last three sessions and causing swings in the market.

Nifty *Put/Call Ratio* (OI) decreased from 1.20 to 1.01 level. 

On Option front, monthly maximum Call OI is at 18400 then 18500 strike while maximum Put OI is at 18300 then 18200 strike. Call writing is seen at 18400 then 18300 strike while Put writing is seen at 18200 then 18300 strike.

*Option data suggests an immediate trading range in between 18150 to 18400 zones.*

For weekly Bank Nifty, Maximum Put OI is at 43500 then 43000 strike and maximum Call OI is placed at 44000 then 45000 strike. We have seen significant Call writing 43900 and Put writing is witnessed at 43500 and unwinding at 44000 strike. 

Bank Nifty Put Call Ratio decreased from 0.98 to 0.76 Implied volatility rose from 14.02 to 14.04 levels.

Bank Nifty (CMP 43,677.85)
Data setup for Bank Nifty suggests a trading range in between *43333/43500 to 44144/44250 zones.*

Looking ahead at the FII’s derivatives activity, there was short built up in index futures, call selling & put buying in index options and long built up in stock futures.

In the cash market, FIIs were net buyers to the tune of 1186 crores while DII’s were net buyers worth 301 crores. FIIs Index Long Short Ratio decreased to 49.12%.

Derivatives data and price set up suggests, Nifty has to hold above 18281 zones, for a bounce towards 18400 and 18442 zones while on the downside support exists at 18181 and 18081 zones.

Bank Nifty has to hold above 43750 zones for a bounce towards 44144 then 44250 zones while a hold below the same could see some weakness towards 43500 then 43333 marks.

Thank you. Have a great trading day and monthly expiry ahead..!!

Wednesday, May 24, 2023

Hawkins Cookers Q4 Result

Hawkins Cookers Q4 Result 

Net profit up 6.7% at Rs 22.8 cr Vs Rs 21.4 cr (YoY)

Revenue down 6.6% at Rs 253.9 cr Vs Rs 271.8 cr (YoY)

*Board recommends a dividend of Rs 100/share*

Aptech reports Q4 earnings

Aptech reports Q4 earnings.

◼️Net profit up 31% at Rs 33.4 cr Vs Rs 26 cr (YoY)

◼️Revenue at Rs 178.5 cr Vs Rs 64.7 cr (YoY)

*◼️Board approves #Bonus issue in the ratio of 2:5*

AVANTI FEED Q4 Result

AVANTI FEED Q4 Result 

NET PROFIT AT 93 CR V 84 CR (YOY)

REVENUE AT 1093 CR V 1332 CR

EBITDA AT 134 CR V 118 CR *YOY

MARGINS AT 12.3 % V 8.8 %

*DIVIDEND 6.25/share*

STOCKS IN ACTION 24 May

STOCKS IN ACTION 24 May

TTK Healthcare: Says Shareholders Approve Delisting Proposal

Adani Green Energy: The board meeting scheduled on May 24 to consider raising funds was cancelled due to non-availability of directors. The next date of meeting will be announced later.

Century Textiles board approves fundraising upto Rs 400 cr via NCDs in one or more tranches on a private placement basis

Varun Beverages incorporates South African wholly-owned subsidiary to explore manufacturing & distribution business of beverages

Trent incorporates new JV company with MAS Fashion to manufacture intimate apparel in India

Shriram Properties acquires a new project in Chennai with a revenue potential of approximately Rs 1,200 cr

NTPC: The power company aims to add 16 GW of renewable capacity by the fiscal ended 2026, the management said during its recent earnings call.

Ipca Laboratories/Lyka Labs: Ipca Laboratories has increased its shareholding in Lyka Labs by 9.76% in two tranches. It bought 44 lakh shares at Rs 139.50 apiece on March 15 and April 18. Ipca now holds 1.20 crore share of Lyka, or 36.34% of latter’s overall shareholding.

Polyplex Corp: Has Entered Into A Binding Term Sheet With Certain Members Of The Promoter Group ("Promoter Group Members") Of The Co And AGP Holdco 
Promoter Group Members Have Agreed To Sell To The Investor 24.2778% Stake In The Equity Share Capital Of The Co For An Aggregate Amount Of 13.8b Rupees

Wipro expands GoogleCloud partnership to advance enterprise adoption of Generative AI

Tata Chemicals re-appoints R. Mukundan as ManagingDirector & CEO for 5 years, effective November 26, 2023

Punjab National Bank: The bank appointed Amit Srivastava as its group chief risk officer.

DishTV: Anil Kumar Dua resigns as CEO of DishTV
Board seeks approval of Ministry Of Information and Broadcasting to appoint Manoj Dobhal as new CEO

Market Indication

Market Indication:
Global: FLAT to NEGATIVE

NIFTY: FLAT to NEGATIVE

BANKNIFTY:  FLAT to NEGATIVE

BULK Deals: Gland Pharma, Matrimony.com, Max Healthcare Institute etc.

Stocks In F&O Ban Period: Delta Corp, Indiabulls Housing Finance

Results Today: Hindalco Industries, National Aluminium Company, FSN E-Commerce Ventures, Oil India, 63 Moons Technologies, Ashoka Buildcon, Bayer Cropscience, Brigade Enterprises, Cummins India, Fine Organic Industries, Gujarat Pipavav Port, Garden Reach Shipbuilders & Engineers, ICRA, India Cements, IRCON International, JB Chemicals & Pharmaceuticals, Nava, The Phoenix Mills, Hitachi Energy India, Trident, Titagarh Wagons, and Wonderla Holidays

SGX NIFTY:  (Negative)

18284     -77.50    -0.42%

Tuesday, May 23, 2023

ROTO PUMP LTD Q4 RESULT

ROTO PUMP LTD Q4 RESULT 

NET PROFIT 11 CR VS 7 CR (YOY), Q3 9.2 CR

REVENUE 72 CR VS 51 CR (YOY), Q3 60 CR

EBITDA UP 65 % AT 18.5 CR (YOY),UP 41%(QOQ) 

EBITDA MARGINS AT 25.75 % V 22.8 % (YOY), 23 % (QOQ

*Dividend Declare : 3.15 RS*

*Bonus Issue : 1 : 1*
*Superb Number 🔥*

DIXON TECH Q4 RESULTS

DIXON TECH Q4 RESULTS

NET PROFIT 806M RUPEES VS 519M (QOQ); 630M (YOY)

REVENUE 30.65B RUPEES VS 24.05B (QOQ); 29.53B (YOY)

EBIT 1.24B RUPEES VS 821M (QOQ)

EBIT MARGIN 4.04% VS 3.42% (QOQ)

*CO RECOMMENDED A FINAL DIVIDEND OF 3 RUPEES PER SHARE*

AKZO NOBEL Q4 RESULT

AKZO NOBEL Q4 RESULT 

NET PROFIT 95 CR VS 75 CR (YOY)

EBITDA 154B CR VS 119 CR (YOY)

EBITDA MARGIN 16.26% VS 13.75% (YOY)

*COMPANY DECLARED FINAL DIVIDEND OF 40 RUPEES PER SHARE*

ASHOK LEYLAND Q4 RESULT

ASHOK LEYLAND Q4 Result 

NET PROFIT 7.51B RUPEES VS 9.01B (YOY); 3.61B (QOQ)

REVENUE 116.26B RUPEES VS 87.44B (YOY); 90.30B (QOQ) 

EBITDA 12.76B RUPEES VS 7.76B (YOY)

EBITDA MARGIN 10.98% VS 8.87% (YOY)

*CO RECOMMENDED A DIVIDEND OF 2.60 RUPEES PER SHARE*

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

◆ Nifty index opened flattish and witnessed buying interest throughout the day and it went on to touch 18335 zones. The second half of the session was comparatively range bound and it finally closed with gains of around 110 points. Buying at support zones continued from its previous session and it remained afloat. It formed a Bullish candle on daily scale and negated its lower highs formation of the last four sessions

◆ Now it has to hold above 18281 zones, for an up move towards 18400 and 18442 zones while on the downside support exists at 18181 and 18081 zones

◆ India VIX was up by 2.20% from 12.30 to 12.57 levels. Volatility was slightly high during the day but overall lower levels continued comforting the bulls at support zones

◆ On Option front, monthly Maximum Call OI is at 18500 then 18300 strike while Maximum Put OI is at 18200 then 18000 strike. Call writing is seen at 18500 then 18300 strike while meaningful Put writing is seen at 18200 then 18300 strike. Option data suggests a broader trading range in between 18000 to 18500 zones while an immediate trading range in between 18150 to 18450 zones

◆ Bank Nifty opened on a flattish note but failed to hold 44000 zones and drifted gradually towards 43700 zones in the latter part of the session. Some recovery was seen from lower zones in the last hour but it relatively underperformed the broader market to close with marginal losses of around 80 points. It formed a small bodied candle on daily scale as buying is visible at lower zones while multiple hurdles are intact at higher levels. Index has got stuck in between 43333 to 44144 zones from the past seven sessions and follow up is missing on either side

◆ Now it has to continue to hold above 43750 zones for an up move towards 44144 then 44250 zones while on the downside support is seen at 43500 then 43333 levels

◆ Bullish setup in Balkrisind, Ambuja Cement, Ramco Cement, BEL, Mphasis, Persistent, Techm, LTTS, TCS, Coforge, Hcltech, Bsoft, Cumminsind, DLF, IOC, AU Bank, Apollo Tyre, ITC, HAL, Maruti and M&M 

◆ Bearish setup in Siemens, Alkem and UBL

Pre- Market analysis 23th May

Pre- Market analysis 23th May

-  Bulls have dominated and Indian equity markets rallied 2nd consecutive day
-  Nifty was opened 18200 and rallied up to 18335
-  Sensex was up 234 points or 0.38% at 61,963.68
- Nifty was up 111 points or 0.61% at 18,314.4
-  Adanient & Adaniports have contributed around 60 points to lift the index
-  midcap index added 0.7 percent and the smallcap index 0.4%
- BPCL net profit zooms 159% YoY to Rs 6478 crore
-  FIIs net bought 922 crore while DIIs net bought 605 crore on May 22
- NCLT (Natioanal Company Law Tribunal) has ordered to NSE BSE to revies Sony-Zee merger
-  VEDL declared first interim dividend of Rs 18.50 for FY 2024. Record date of May 30
- VEDL already paid interim dividend os Rs 101.50 through FY 2023-2024
-  US president & Speaker MCCarthy meeting ends with no deal on debt ceilling
-  US Futures higher following a mixed close for the cash market
- Dow declined 0.42%, Nasdaq added 0.5% and S&P500 ended flat note
- US VIX ended 17.20
- US 10-year yield rises to 3.72%
-  Crude inches higher on rise in US gasoline futures
-  Brent crude above $76/bbl
- Gold prices fall to $1960/oz as FED Hawkish comments on weigh dollar
- Asian markets higher in early morning
- Nikkei & Kospi higher 0.5% and Hangseng at flat note

STOCKS IN ACTION 23 May

STOCKS IN ACTION 23 May

Torrent Power: The board of the company will consider raising Rs 3,000 crore via private placement of non-convertible debentures, along with the financial results for the March quarter and a final dividend for financial year 2022-23.

CENTURY TEXTILES: BOARDMEET Today 
Consider Fund Raising worth Rs 400 Crores Via NCDs

AXITA COTTON: BOARDMEET Today 
Consider BuyBack Proposal

ITI bags an Advance Purchase Order (APO) worth Rs. 3,889 cr from BSNL for its 4G rollout

Astra Microwave joint venture (JV) company, Astra Rafael Comsys, bags an order of Rs 158 cr from Defence Public Sector Undertaking (DPSU) for supply of Software Defined Radio (SDR)

JSW Steel | NCLT approves resolution plan of JSW Steel Coated Products For National Steel & Agro Industries Limited (NSAIL)
JSW Steel & JFE Steel agree to establish cold rolled grain oriented electrical steel manufacturing JV in India

IGL accepts authorisation for Noida Geographical Area (GA) without prejudice
Co has filed appeals against Petroleum & Natural Gas Regulatory Board (PNGRB) order in respect of Faridabad and Gurugram GAs
Alert: On Apr 25, PNGRB released its order regarding authorisation for Noida & Gurugram GAs

TELECOM DATA - MARCH 
RelianceJio added 30.5 Lakh mobile subscribers
BhartiAirtel onborded 10.37 Lakh mobile subscribers
VodafoneIdea lost 12.12 Lakh wireless users

MTAR TECHNOLOGIES: Alert Bloom Energy to host investor conference Tomorrow 

Vedanta: The company announced the first interim dividend of Rs 18.50 per share for the financial year 2023-24, with a total outgo of Rs 6,877 crore.

Coal India: The Joint Bipartite Committee for the Coal Industry signed the National Coal Wage Agreement for the period five years, effective July 1, 2021. The company has made provisions to the tune of Rs 9,252.24 crore for this effect for 21 months from July1, 2021 to March 31, 2023. The final impact of this is not likely to be significant.

MAX HEALTHCARE: Large Trade
GQG PARTNERS EMERGING MARKETS EQUITY FUND
BUY 75,50,000 Shares @ Rs 549.7/ Share

MATRIMONY: Large Trade
CARNELIAN ASSET ADVISORS PRIVATE LIMITED
BUY 135,495 Shares @ Rs 560/ Share 

KOKUYO CAMLIN: Large Trade 
EQUITY INTELLIGENCE INDIA PRIVATE LIMITED
BUY 540,000 Shares @ Rs 105.79/ Share

GLAND PHARMA: Large Trade 
MORGAN STANLEY INVESTMENT FUNDS EMERGING MARKETS EQUITY FUND
SOLD 960,271 Shares @ Rs 930.69/ Share

Monday, May 22, 2023

BPCL Q4 Result

BPCL Q4 Result 

NET PROFIT 64.78B RUPEES VS 19.59B (QOQ); 21.3B (YOY) 

REVENUE 1.33T RUPEES VS 1.33T (QOQ); 1.24T (YOY) 

EBITDA 111.5B RUPEES VS 42.33B (QOQ)

EBITDA MARGIN 8.36% VS 3.18% (QOQ)

*CO RECOMMENDED DIVIDEND OF 4 RUPEES PER SHARE*

GUJARAT ALKALIES & CHEMICALS Q4 Result

GUJARAT ALKALIES & CHEMICALS Q4 Result

NET PROFIT 710M RUPEES VS 2.2B (YOY); 872M (QOQ)

REVENUE 11.38B RUPEES VS 11.4B (YOY); 11.2B (QOQ) 

EBITDA 2.43B RUPEES VS 3.5B (YOY)

EBITDA MARGIN 21.31% VS 30.69% (YOY)

*CO RECOMMENDED FINAL DIVIDEND OF 23.55 RUPEES PER EQUITY SHARE*

UPI transactions

837X rise in UPI transactions between April 2020 - April 2023 (Value in Rs. Crores):

April 2023: 1415505
April 2022: 983573
April 2021: 493664
April 2020: 151141

(RBI)

Derivatives update

*Derivatives update*

Good morning !! Derivatives update for Monday, 20 May 2023.

India VIX was down by 3.91% from 12.79 to 12.30 levels. Volatility sunk during the day and paved way for the bulls in the market at support zones.

Nifty *Put/Call Ratio* (OI) increased from 0.93 to 1.01 level. 

On Option front, monthly Maximum Call OI is at 18200 then 18500 strike while Maximum Put OI is at 18200 then 18000 strike. Call writing is seen at 18450 then 18400 strike while minor Put writing is seen at 18100 then 18000 strike.

*Option data suggests a broader trading range in between 17900 to 18400 zones while an immediate trading range in between 18050 to 18350 zones.*

For weekly Bank Nifty, Maximum Put OI is at 43000 then 44000 strike and maximum Call OI is placed at 44000 then 44500 strike. We have seen Call writing 46000 and Put writing is witnessed at 44000 strike. 

Bank Nifty Put Call Ratio increased from 1.01 to 1.15. Implied volatility fell from 14.4 to 13.2 levels.

Bank Nifty (CMP 43,969.4)
Data setup for Bank Nifty suggests a trading range in between *43333/43500 to 44144/44250 zones.*

Looking ahead at the FII’s derivatives activity, there was short built up in index futures, call & put selling in index options and long built up in stock futures.

In the cash market, FIIs were net sellers to the tune of 113 crores while DII’s were net buyers worth 1071 crores. FIIs Index Long Short Ratio decreased to 47.64%.

Derivatives data and price set up suggests, Nifty has to hold above 18181 zones, for an up move towards 18333 and 18442 zones while on the downside supports exist at 18081 and 18018 zones.

Bank Nifty has to hold above 43750 zones for an up move towards 44144 then 44250 zones while on the downside support is seen at 43500 then 43333 levels.

Thank you. Have a great trading day and week ahead..!!

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

◆ Nifty index opened positive and fell steeply in the first half of the session to touch intraday low of 18060 and was followed by recovery throughout the day. Buying interest was ignited at 18081 zones and it touched high of 18218 zones to finally close with gains of around 70 points. It formed a Bullish hammer on daily scale with longer lower shadow indicating buying at support zones. It formed a Bearish candle on weekly frame but has been forming higher highs from the last eight weeks which suggests supports are gradually shifting higher

◆ Now it has to hold above 18181 zones, for an up move towards 18333 and 18442 zones while on the downside supports exist at 18081 and 18018 zones

◆ India VIX was down by 3.91% from 12.79 to 12.30 levels. Volatility sunk during the day and paved way for the bulls in the market at support zones

◆ On Option front, monthly Maximum Call OI is at 18200 then 18500 strike while Maximum Put OI is at 18200 then 18000 strike. Call writing is seen at 18450 then 18400 strike while minor Put writing is seen at 18100 then 18000 strike. Option data suggests a broader trading range in between 17900 to 18400 zones while an immediate trading range in between 18050 to 18350 zones

◆ Bank Nifty opened gap up by 150 points near 43950 zones but failed to hold its opening gains and drifted swiftly towards 43500 zones in the initial hour of the session. Later on it remained consolidative in narrow range of 100 points but recovered its intraday losses and extended its momentum towards 44000 zones. It formed a Bullish Pin Bar candle with long lower shadow on daily scale which suggests buying is visible at lower zones but facing multiple hurdle near 44050 zones from the past few sessions. On weekly structure, it formed a small bullish candle and higher highs - higher lows structure is intact from the past eight weeks

◆ Now it has to hold above 43750 zones for an up move towards 44144 then 44250 zones while on the downside support is seen at 43500 then 43333 levels

◆ Bullish setup in DLF, Tata Motors, Adani Ent, Adani Ports, Bsoft, Coforge, Indhotel, Infy, Mphasis, LTIM and Ramco Cement

◆ Bearish setup in ABFRL, AB Capital, Astral, Auropharma, Bandhan Bank, Britannia, Divis Labs, Siemens and Zyduslife