Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

◆ Nifty index opened flattish and moved in the positive direction but failed to hold above 18777 zones and drifted lower in the second half of the session. It broke its intraday support zones as a result of profit booking at higher zones and closed with losses of around 90 points. Some sort of pause could be seen at record levels but overall set up remains positive. It formed a Bearish candle and an outside Bar on daily scale

◆ Now it has to cross and hold above 18666 zones to witness an up move towards 18786 and 18888 zones while on the downside support exists at 18580 and 18530 zones

◆ India VIX was down by 1.60% from 11.44 to 11.25 levels. Volatility sunk to 10 zones during the day and comforted the bull at higher zone but was followed by a slight rise

◆ On option front, weekly maximum Call OI is at 18700 then 18800 strike while maximum Put OI is at 18700 then 18600 strike. Call writing is seen at 18700 then 18800 strike while Put writing is seen at 18700 then 18500 strike. Option data suggests a broader trading range in between 18450 to 18900 zones while an immediate trading range in between 18550 to 18800 zones

◆ Bank Nifty opened on a flattish note but managed to hold 44200 zones initially and gradually moved towards 44459 marks in the first half of the session. However it failed to hold 44444 marks and quickly drifted again towards 43900 zones in the latter part of the trading session. It formed a Bearish candle on daily scale as selling pressure was seen at higher zones however multiple supports are intact at lower zones and it closed near its crucial 20 DEMA levels

◆ Now it has to cross and hold above 44044 zones for an up move towards 44250 then 44500 zones while on the downside support is seen at 43750 then 43500 levels

◆ Bullish setup in Dixon, NTPC, Jswsteel, HAL, Powergrid, Indigo and LT 

◆ Bearish setup in IEX, Indhotel, Kotak Bank, ABFRL, Mphasis, India Mart, Sunpharma and GNFC

Derivatives update

*Derivatives update*

Good morning !!

Derivatives update for Friday, 9th June 2023.

India VIX was down by 1.60% from 11.44 to 11.25 levels. Volatility sunk to 10 zones during the day and comforted the bull at higher zone but was followed by a slight rise.

Nifty *Put/Call Ratio* (OI) decreased from 1.38 to 1.06 level. 

On option front, weekly maximum Call OI is at 18700 then 18800 strike while maximum Put OI is at 18700 then 18600 strike. Call writing is seen at 18700 then 18800 strike while Put writing is seen at 18700 then 18500 strike.

*Option data suggests a broader trading range in between 18450 to 18900 zones while an immediate trading range in between 18550 to 18800 zones.*

For weekly Bank Nifty, Maximum Put OI is at 44000 then 43500 strike and maximum Call OI is placed at 44000 then 44500 strike. We have seen Call writing 44000 and Put writing is witnessed at 44000 strike as well.

Bank Nifty Put Call Ratio decreased from 0.95 to 0.77. Implied volatility rose from 12.7 to 13.3 levels.

Bank Nifty (CMP 43,995.25)

Data setup for Bank Nifty suggests a trading range in between *43500/43750 to 44250/44500 zones.*

Looking ahead at the FII’s derivatives activity, there was short built up in index futures, position unwinding in index options and long liquidation in stock futures.

In the cash market, FIIs were net buyers to the tune of 212 crores while DII’s were net sellers worth 405 crores. FIIs Index Long Short Ratio decreased to 48.20%.

Derivatives data and price set up suggests, Nifty has to cross and hold above 18666 zones to witness an up move towards 18786 and 18888 zones while on the downside support exists at 18580 and 18530 zones.

Bank Nifty has to cross and hold above 44044 zones for an up move towards 44250 then 44500 zones while on the downside support is seen at 43750 then 43500 levels.

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

News and Impact

News and Impact

 

 

·      Expects market to open on a positive note after the RBI kept unchanged interest rate  second time in a row and lower FY24 inflation projection, rally in the global markets and hope of US Fed to keep unchanged interest rate in the next policy meeting will be positive for the market sentiment. U.S. stocks ended upto 1% higher to close 10-month high, boosted by a rally in shares of big technology shares and fresh signs of a cooling US labor market (20-month low)in prompted traders to curb bets on further monetary tightening. As a result, US bond yield fell by 1%, dollar Index fell to below 104 and US Vix drop over 2% to below 14, indicating US Fed to pause hike in interest rate in the next policy meeting. Investors seemed to be in a wait-and-see mode ahead of next week's key inflation data and the Federal Reserve's policy meeting. Meanwhile, investors are reassessing the trajectory of the Federal Reserve's monetary policy after central banks in Canada and Australia unexpectedly raised interest rates this week. Back home, SGX Nifty is up quarter percent and US Future is witnessing mixed bag. Yesterday, Index declined half a percent on account of profit booking after the RBI announced its credit policy today. RBI kept unchanged interest rate at 6.5% but lower FY24 Inflation projection from 5.2% to 5.1%. Positive factor that the continued FIIs buying interest (Yesterday net buyers Rs212cr), better than expected PMI data and strong GST collection will be positive for the market sentiment. Expects stock specific action in the market and momentum expected to be mid and small cap counters. Traders will be focus for banks, defense and auto stocks. Traders focus on Sugar and Coffee stocks due to spiked in Sugar and Coffee price in the international market.

 

·      US Market   –Technology stocks drove a rally in US equities while bond yields and the dollar fell after data showing US jobless claims surged more than expected last week. Nasdaq Composite gained 1% while Dow Jones Index soared over half percent. US Vix (Volatility Index) declined 2% to below 14.

 

·      Global market summary – US jobless claims to the highest since October 2021 shows that the labor market. US Dollar Index fell to below 104. Both US 10-Year and 2-year bond yield declined by 1% each. S&P 500 into a bull market with a gain of more than 20% from its October low.

 

·      Asian Market – Equities in Japan, South Korea and Australia opened higher Friday after a rally in US technology stocks pushed the S&P 500 into a bull market with a gain of more than 20% from its October low. Japan Index gained over 1%.

 

·      European Market -  European equities were steady as gains in automotive and banking stocks countered losses in other sectors like technology, which were weighed down by concerns of slowing growth and elevated interest rates. Moreover, fall in Euro zone GDP growth is a concern in the European region. UK Index marginally decline while both Germany and France Index gained 0.2% each

 

·      Oil –  Oil declined 2% to $75/bbl as demand concerns returned to the fore, snuffing out gains driven by Saudi Arabia’s unilateral pledge to cut production. Reports that the US and Iran had made progress on nuclear talks that could lead to more supply from the Islamic Republic. However, US officials said reports of an interim deal are false.

 

·      Gold –Gold edged higher by 1% to $1965/ounce after sinking to its lowest close since March, with investors tempering bets on future Federal Reserve rate hikes and lower US bond yields.

 

·      Previous Day market Update –.Equity benchmark index declined nearly half a percent from the intra-day high on account of profit booking after the Reserve Bank of India announced its credit policy today. Interest-sensitive sectors like auto, financials, and real estate declined as traders booked profit. The RBI kept the repo rate unchanged at 6.5 percent – in line with expectation but the RBI Governor cautioned that inflation concerns in the second half of the year need to be watched and addressed at an appropriate time. There was some hawkish stance by the RBI government which dampened the market sentiment. Moreover, investors had a cautious approach ahead of the US Federal Reserve’s policy decision to be release next week. Both the Central Bank of Australia and Canada unexpectedly raised rates by 25bps, stoking concerns for further tightening by the Federal Reserve. Sensex declined 294 points or 0.4% to close at 62848. Sensex touched an intra-day high of 63321 and low of 62790. Nifty declined 90 points or 0.5% to close at 18634. Nifty touched an intra-day high of 18777 and a low of 18615. After a long time, both mid-cap and small cap stocks corrected and declined nearly 1% from the intra-day high.  While India Vix cooled off by nearly 2% to close at 11.25.  FIIs were net buyers Rs212cr while DIIs were net sellers Rs405cr yesterday.

 

·      Nifty Technical Levels – Some sort of pause could be seen Nifty at record levels but overall set up remains positive. It formed a Bearish candle and an outside Bar on daily scale. Now it has to cross and hold above 18666 zones to witness an up move towards 18786 and 18888 zones while on the downside support exists at 18580 and 18530 zones.

 

·      Bank Nifty Technical Levels – Bank Nifty formed a Bearish candle on daily scale as selling pressure was seen at higher zones however multiple supports are intact at lower zones and it closed near its crucial 20 DEMA levels. Now it has to cross and hold above 44044 zones for an up move towards 44250 then 44500 zones while on the downside support is seen at 43750 then 43500 levels.

 

·      Actionable BUY – Hindustan Aeronautics, Tata Steel, CCL Products, Tata Power, Tata Motor, Reliance Industries

 

·      Brokers Radar – Macquarie – TGT on  SBI Life at 1306, HDFC Life at 556 and ICICI Prudential Life TGT at 486. JP Morgan – Hero Motocorp TGT at 3315, Bajaj Auto TGT at  5380 and TVS Motor tgt AT 1400. Macquarie TGT on TVS Motor at 1418.  Goldman Sachs  - Ultrtechtech Cement TGT at 8600 and Dalmia Cement TGT at 2100

 

·      Events –Kotak Mahindra Bank block deal of 1.7% equity, IKIO Lighting Rs607cr IPO Subscribed 68 Times by Last Day.

 

·      Corporate Action  - Solar Industries - AGM and ex-dividend Rs8, Asian Pains Rs21.25, Elecon Engineering Rs2 and HDFC AMC Rs48

 

·      Global Data –CPI and PPI (Producer Price Index) - China

 

·      Market Summary – Canada Pension Seeks up to $754M in Kotak Stake Sale, Tata Power receives LOA to set up 966 MW Renewable Power Project for Tata Steel, German Defence Minister visits Mazagon Dock in Mumbai, RBI keeps unchanged interest rate and lower inflation, Hatsun Agro To Consider Sale Of Windmill Division, Govt. in talks with US on steel, aluminum tariff exemption- media report

 

·      Kotak Bank - Canada Pension Plan Investment Board offers 33m shares, or a 1.7% stake, in Kotak Mahindra Bank  in a block trade. The shares are offered at Rs1,792.18 to 1,886.50 a share, price range represents a discount of 5% (CMP 1886). Current holding 4.34% stake by Canada Pension Plan Investment – Any sharp decline will be buying opportunity. 

 

·      Hindustan Aeronautics (HAL)- The Board of Hindustan Aeronautics Ltd (HAL) will meet on June 27 to consider and approve a proposal to split its equity shares – positive

 

·      Tata Power - Company received Letter of Award 'LOA' to set up 966 MW RTC  hybrid renewable power for Tata Steel. This is one of the biggest industrial RTC power PPAs under Group Captive segment in the country. – positive

 

·      IRB Infra – Company’s listed Private InvIT report 20% growth in Toll Revenue for May 2023 – positive

 

·      Biocon – Company said that its active pharmaceutical ingredient (API) manufacturing facility in Bangalore received a certificate of GMP Compliance from competent authority of Germany - positive

 

·      CEAT Limited - Company has increased stake with Tyresnmore Online Pvt  for making a further investment of upto ₹ 9 Crore to acquire additional 10.89% of the fully diluted post issue total share capital.  Tyresnmore shall become Subsidiary of CEAT Limited and the total holding of CEAT Limited in Tyresnmore on a fully diluted basis would be 56.9%.

 

·      Aether Industries – Company signed license agreement with Saudi Aramco Technologies Company for the commercialization of the sustainable Converge®️ polyols technology - positive

 

·      GAIL – Company emerged successful in Corporate Insolvency Resolution Process (CIRP) of JBF Petrochemicals in competitive bidding seeing through major India petrochemical players in the process. The acquisition of JBFPL offers GAIL an opportunity to add a new product Purified Terephthalic Acid (PTA) to GAIL's existing petrochemical portfolio. – positive

 

·      NHPC – Company has been allotted a Pump Hydro Storage site in Punasa, Dist, Madhya Pradesh with estimated storage capacity of 525 MW X 6 hours, by New and Renewable Energy Department, Govt. of Madhya Pradesh. – Positive

 

·      TCM Ltd (Formerly Travancore Chemical) has received the work order from Agency for New and Renewable Energy Research and Technology (ANERT), Department of Power, Government of Kerala for the Design, Supply, Installation and Commissioning of Grid connected SPV Power Plants in Public Buildings at Thiruvananthapuram under Solar City Project – Positive

 

·      Bharti Airtel – Company surpasses the 20 lakh customer mark on its 5G network in Uttar Pradesh East - positive

 

·      RBI Monetary Policy: The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), announced its decision to keep the repo rate unchanged at 6.5 per cent. RBI governor Shaktikanta Das said that the committee took the decision unanimously. The gross domestic product (GDP) forecast for 2023-24 (FY24) has also been kept unchanged at 6.5 per cent. However, the inflation target for FY24 has been lowered marginally to 5.1 per cent from 5.2 per cent earlier. RBI said inflation is expected to remain above 5 per cent in FY24. The MPC also announced that it will continue with its stance of "withdrawal of accommodation".

 

·      Focus on Metal stocks - Government is in negotiations with the US to seek an exemption from steel and aluminium tariffs imposed by former US President Donald Trump, as well as the removal of some retaliatory levies. Negotiators in New Delhi and Washington want to strike a deal during Indian Prime Minister Narendra Modi’s visit to the United States later this month – expects positive for Hindalco, SAIL, Nalco and Tata Steel

 

·      Zydus Life – Company gets USFDA approval for Nexium delayed-release oral suspension - positive 

 

·      Mother Dairy has reduced the maximum retail price (MRP) of edible oils sold under Dhara brand by Rs 10 per litre on account of fall in edible price in the international market – It may positive on select FMCG stocks (Hindustan Unilever, Dabur India) and expectation of cooling down inflation. However, Marico, Godrej Agrovat and Patanjali may negative impact.

 

·      KPI Green Energy – Company have received Commissioning Certificates from Gujarat Energy Development Agency ('GEDA') for the 26.10MW wind-solar hybrid power project comprising 16.10MW wind and 10MWdc solar capacity at Bhungar site in Bhavnagar, Gujarat, under the Gujarat Wind-Solar Hybrid Power policy 2018. - positive

 

·      Trigyn Technologies- company  has announced that the contract of our wholly owned subsidiary, Trigyn Technologies Inc., with the United Nations, for the provision of Information and Communication Technology Staffing Support at the UN Missions and other UN offices worldwide, has been extended for an additional six (6) months. – positive

 

·      Mazagoan Dock - A delegation from  Germany led by its Defence Minister Boris Pistorius visited the Western Naval Command (WNC) and the Mazagon Dock here with an aim to strengthen defence ties between the two countries - positive

 

·      Inox Wind – Company has bagged an order for a 100MW wind power project from ABEnergia Renewables Pvt Ltd (ABEnergia), an Independent Power Producer – positive

 

·      Hatsun Agro To Consider Sale Of Windmill Division -  Hatsun Agro is considering the sale of its windmill division by way of transfer of all the assets and liabilities through a slump sale – Positive to exit non-core business

 

·      L&T Finance – Company approved dividend Rs2 a share

 

·      IndusInd Bank – Company has been empaneled as the official angency bank by the Madhya Pradesh Government. Bank to collect government's revenue and receipts such as GST and VAT online – Positive

 

·      Zen Technologies - Military training and anti-drone solutions provider Zen Technologies has secured an order worth Rs202cr from the Ministry of Defense - positive

 

·      SpiceJet - SpiceJet will partner with FTAI Aviation for its CFM56 engine revitalization program.  Under the program, FTAI Aviation will provide SpiceJet with upto 20 engines for lease, inclusive of maintenance services – positive

 

·      Delhivery Ltd - ONDC network partners with Delhivery and Mystore to provide express parcel shipping for rural entrepreneurs nationwide - positive

 

·      CCL Products - Company acquired six coffee brands from Lofbergs Group for £550,000 or approximately Rs 5.66cr – positive .

 

 

STOCKS IN ACTION 9 June

STOCKS IN ACTION 9 June

HINDUSTAN AERONAUTICS: Board To Consider Stock-split On June 27

CapaciteInfraprojects: To Raise 963m Rupees Through Preferential Issue Of Equity Shares

TATA POWER, Tata Steel: Tata Power Renewable Energy Subsidiary receives

Letter of Award to set up 966 MW Round-the-clock (RTC) Hybrid Renewable Power Project for TataSteel

Tata Steel, will invest 26% equity in the said project. 

To be commissioned by 1st June 2025

AETHER INDUSTRIES: Signs license agreement with Saudi Aramco Technologies Company for the commercialization of the sustainable Converge polyols technology

FYI Yesterday had Executed Letter of Intent with USA based leading global Oil Field Services Company

Trigyn Technologies: Unit Awarded Enterprise Technology Staffing Support Contract By City Of Baltimore, Maryland

BIOCON: Active Pharmaceutical Ingredient (API) manufacturing facility located in Bangalore has received a certificate of GMP compliance from the Competent Authority of Germany 

(following an EU GMP inspection that was conducted in February 2023)

HeroMotoCorp to invest up to Rs 1,500 crore for developing premium bikes and EVs in India

CEAT: Company inked an agreement to further invest up to Rs 9 crore to acquire 10.89% of Tyresnmore. Upon completion of the agreement, Tyresnmore will become a subsidiary of the company with CEAT, holding a 56.9% stake on a fully diluted basis.

Pitti Engineering: Company made an additional investment of Rs 5 lakh in its wholly owned subsidiary, Pitti Rail and Engineering Components, by subscribing to 50,000 fully paid-up equity shares of face value of Rs 10 each through a rights issue. This investment is made to enable Pitti Rail to meet its expenses for operations and general corporate purposes

Abans Holding: The company's subsidiary Abans Agri Warehousing & Logistics is executing a contract to sell its entire 100% stake in Shanghai Yilan Trading Co. to Forever Trading F.Z.C. for a composite consideration of CNY 354,595 (Rs 41.13 lakh).

NHPC: Arm NHDC Gets 525 MW X 6 Hours Pump Hydro Storage Site In Khandwa, Madhya Pradesh

IRB Infrastructure Dev: Says May Revenue Up 20% At Rs 411.1 Cr Vs Rs 343.5 Cr (YoY)

Blue Dart Board approves appointment of Sudha Pai as CFO, effective Sep 1

Kotak Mahindra Bank: Canada Pension sought Rs 6,225 crore for a stake sale in Kotak Mahindra Bank. The Canada Pension Plan Investment Board will offer 3.3 crore shares, representing a 1.7% stake, in Kotak Mahindra Bank in a block trade. The shares are offered at Rs 1,792.18 to Rs 1,886.50 each. The price range represents a discount of up to 5% compared to Thursday's close.

SNOWMAN LOGISTICS: Large Trade 

Promoter GATEWAY DISTRIPARKS LIMITED

Bought 14,00,000 Shares @ Rs 43.32/ Share 

JHS SVENDGAARD: Large Trade

NIKHIL VORA 

Sold 391,665 Shares @ Rs 19.21/ Share

CHAITALI N VORA 

Sold 383,878 Shares @ Rs 18.2/ Share

NIKHIL VORA

SELL 600,000 Shares @ Rs 17.5/ Share

PATEL INTEGRATED LOGISTICS: Large Trade

PATEL HOLDINGS LIMITED

Sold 510,000 Shares @ Rs 15.60

UNITED DRILLING TOOLS: Large Trade 

ASHISH KACHOLIA

Sold 158,390 Shares @ Rs 190.49/ Share

Market Indication

Market Indication:

Global: FLAT to NEGATIVE

NIFTY: FLAT to NEGATIVE

BANKNIFTY:  FLAT to NEGATIVE

BULK Deals:Snowman Logistics, United Drilling Tools etc.

Stocks In F&O Ban Period: Indiabulls Housing Finance and Manappuram Finance

Results Today: Nil

SGX NIFTY:  (Positive)

18755     +34.50    +0.18%

SGX Nifty

SGX Nifty: 18756

Advisory: Market Pre-opening

Advisory: Support / Resistance : Intraday

Nifty Futures :

S1 - 18645 S2 - 18550

R1 - 18820 R2 - 18915

BankNifty Futures :

S1 - 43900 S2 - 43500

R1 - 44370 R2 - 44750

Nifty Highest Open Interest (15th Jun Weekly expiry) : Call:18700 / Put : 18000

ExpiryDay View Levels

#ExpiryDay View/Levels

#BankNifty Spot

- CMP 44440

- Trading range for today 44000-44100 to 44500-600 (+/-100)

- Expiry expecting near 44200 (+/-100)

#Nifty Spot

-CMP 18765

-Trading range for today 18600 to 18800 (+/-50)

-Expiry expecting near 18650 (+/-25)

-View invalid above or below the range.

-Trade with HEDGE.

-Before taking any action do your own research also.

-View/levels are educational purpose only. Not a BUY/SELL recommendations

commodity groups

Share of top 5 commodity groups in state-to-state movement of goods in 2020-21 by rail🇮🇳: 

Coal & Coke: 38.18%

Cement: 12.56%

Iron Ore: 10.33%

Iron & Steel: 5.42%

Fertilizer & Chemical manure: 3.95%

(DGCIS)

Who leads in Telecom Sector?

Who leads in Telecom Sector? 📲

Reliance Jio 37.61%

Bharti Airtel 32.42%

Vodafone Idea 20.70%

BSNL 9.06%

MTNL 0.21%

(Mar 2023)

BSNL has 25% share in wireline subscribers & 3% share in the broadband market.

RBI Repo Rate

*Reserve Bank of India Policy Announcement: Repo Rate* 

 

Current: 6.50% 

Expected: 6.50% 

Previous: 6.50% 

 

(As expected, Reserve Bank has maintained status quo on Repo rates. Policy comments and Future guidance important for further outlook)

BUY APOLLO TYRE

BUY APOLLO TYRE CASH @ 397-99, SL 393, TGT 404, 410, 418+

RBI MAINTAINS REPO RATE UNCHANGED

RBI MAINTAINS REPO RATE UNCHANGED AT 6.50%

Buy Indigo

Buy Indigo Cash @ 2440-2450

Sl 2420

Tgt 2500-2600

BUY NLC INDIA

BUY NLC INDIA @ 100-101, SL 98, TGT 104, 109, 115+

Dividend Dates

*Dividend Dates*

Ex-Dividend *09 June 2023 (Tomorrow)*

Last date for Cum-Dividend *Today*

*Asian Paints Ltd.*

Dividend Per Share Rs.21.25

Previous day Closing Price – Rs. 3223.85

*Bhansali Engineering Polymers Ltd.*

Special Dividend Per Share Rs.14

Final Dividend Per Share Rs.1

Previous day Closing Price – Rs. 160.7

*Caplin Point Laboratories Ltd.*

Dividend Per Share Rs.2

Previous day Closing Price – Rs. 777.55

*Cigniti Technologies Ltd.*

Special Dividend Per Share Rs.2.5

Final Dividend Per Share Rs.3.0

Previous day Closing Price – Rs. 907.6

*Dynamatic Technologies Ltd.*

Dividend Per Share Rs.7

Previous day Closing Price – Rs. 3374.1

*Elecon Engineering Co.Ltd.*

Dividend Per Share Rs.2

Previous day Closing Price – Rs. 561.65

*Elpro International Ltd.*

Dividend Per Share Rs.0.23

Previous day Closing Price – Rs. 60.74

*HDFC Asset Management Company Ltd*

Dividend Per Share Rs.48

Previous day Closing Price – Rs. 1994.8

*Himadri Speciality Chemical Ltd*

Dividend Per Share Rs.0.25

Previous day Closing Price – Rs. 131.6

*Indian Hotels Co.Ltd.*

Dividend Per Share Rs.1

Previous day Closing Price – Rs. 395.9

*National Fertilizers Ltd.*

Dividend Per Share Rs.1.53

Previous day Closing Price – Rs. 71.8

*NRB Bearings Ltd.*

Dividend Per Share Rs.4.1

Previous day Closing Price – Rs. 195.8

*Solar Industries India Ltd.*

Dividend Per Share Rs.8

Previous day Closing Price – Rs. 3887.3

*Maruti Interior Products Ltd*

Dividend Per Share Rs.0.5

Previous day Closing Price – Rs. 149

*Voltas Ltd.*

Dividend Per Share Rs.4.25

Previous day Closing Price – Rs. 805.65

STOCKS IN ACTION 8 June

STOCKS IN ACTION 8 June

Punjab & Sind Bank board to consider raising upto Rs 750 cr via Bonds in one or more tranches on June 12

Titagarh Wagons: Board to consider raising funds via QIP/Rights Issue on June 10

Bank Stocks: To be in focus ahead of the Monetary Policy Committee decision on policy repo rate. MPC is likely to continue its status quo on the key lending rate at its second meeting in the new fiscal, amidst easing inflation and resilient growth.

Zydus Life gets USFDA approval for Tadalafil tablets, which are used to treat Pulmonary Arterial Hypertension & improve exercise capacity in both men & women

Mazagon Dock Shipbuilders: Thyssenkrupp, Co Sign Submarine MoU 

Thyssenkrupp, Mazagon Intend To Build Submarines In India

Lemon Tree Hotels signs licence agmt for a 60-room property in Rajamundry, Andhra Pradesh; the hotel is expected to be operational by Q3 of FY25

Sula Vineyards identifies new CFO, who will come on board in August

Company launches three new luxury lakeside villas in Nashik 

Tata Elxsi launches InnovationHub & nearshore engineering centre in Troy, Michigan

Tata Elxsi partners with ISRO to enable the upcoming GaganyaanMission

Tata Elxsi to design & develop Crew Module Recovery Models (CMRM) for recovery team training of the space mission

Hatsun Agro to consider sale of its windmill division by way of transfer of assets & liabilities on July 5, 2023

Wipro & Cisco launches managed private 5G-as-a-Service solution

Gati: Total volume, including surface and air express, rose 8% sequentially in May. It rose 1% from the year ago period. Company said volumes in May continued to show an improving trend owing to an uptick in preparations for the upcoming festive season starting in the last week of May. This is expected to continue over the coming months. 

Aether Industries: Company signed a Letter of Intent with U.S. based oil field services company for strategic supplier and contract manufacturing partnership. The letter specifies four strategic products that will be supplied to the global energy and oil and gas locations of the U.S. based company, including a significant supply within India.  

Nelco invests in Piscis Networks to bolster its portfolio of Satellite Communication Solutions

Adani Enterprises: Spokesperson Says Adani Group To Go Slow On Dealmaking As High Global Cost Of Capital Weighs 

Says Adani Group To Focus On Completion Of Existing Projects

Haldyn Glass: Says One Of The Furnace At Plant Located At Vadodara Will Remain Shut For A Period Of 90 Days To Undertake Relining

Operation At Second Furnace Will Continue As Usual

Life Insurance Corp: Company increased stake in Tech Mahindra by 2%,  from 6.87% to 8.89%. The holding increased at an average cost of Rs 1,050.77. 

Stove Kraft: Chief Financial Officer Balaji A S has resigned from the company citing personal reasons. The company is in the process of hiring a professional for the position of chief financial officer.     

CRAYONS ADVERTISING: Large Trade

GOEL ANIL KUMAR

BUY 200,000 Shares @ Rs 109.35/ Share

SNOWMAN LOGISTICS: Large Trade

Promoter GATEWAY DISTRIPARKS LIMITED

BOUGHT 11,00,000 Shares @ Rs 40.02/ Share

EKI ENERGY SERVICES: Large Trade

NEXT ORBIT VENTURES FUND

SELL 200,000 Shares @ Rs 492.35/ Share

DEEPAK FERTILISERS: Large Trade

SMALLCAPWORLD FUND INC

SELL 23,54,000 Shares @ Rs 548.42/ Share

DLINK INDIA: Large Trade

ASHISH KACHOLIA

SELL 194,662 Shares @ Rs 228.5/ Share

BSE Sensex performance

BSE Sensex performance (%):

2023: +3.22%* 

2022: +4.44%

2021: +21.69%

2020: +15.60%

2019: +13.8%

2018: +6.7%

2017: +28.2%

2016: +1.8%

2015: -5.05%

2014: +30.1%

*Till June 7

(BSE)

Market Indication

Market Indication:

Global: FLAT to POSITIVE

NIFTY: FLAT to POSITIVE

BANKNIFTY:  FLAT to POSITIVE

BULK Deals:Ceinsys Tech, Gravita India etc.

Stocks In F&O Ban Period: Indiabulls Housing Finance, India Cements, and Manappuram Finance

Results Today: Nil

SGX NIFTY:  (Positive)

18830     +18.00    +0.10%

RBI POLICY TODAY @ 10

RBI Credit  Policy Announcement Today at 10Am

Today market can volatile.

News and Impact

News and Impact

 

 

·      Expects market to open a flat note on ahead of key RBI credit policy to be announce today (expected time 10am). Expectation of RBI to keep unchanged interest rate while RBI commentary will be important for the market sentiment.  SGX Nifty is trading flat to positive. Technically, Nifty has given a range breakout on daily frame and gave the second highest ever close. Nifty just less than 1% or 160 points lower of all time high. Yesterday, Nifty close at 6-month high of above 18700 level and Sensex topped above 63k for first time in 2023. Expects higher intra-day volatility today on ahead of RBI policy outcome and weekly Nifty and Bank F&O expiry. Positive factor that the FIIs were continued buying in Indian equity and net buyers nearly Rs1400cr yesterday. Moreover, IMD forecast monsoon may Start in 48 hours, better than expected PMI, GDP and auto monthly sales will be positive for the market sentiment. Among the global markets, U.S. stocks ended mostly lower (Nasdaq slipped 1%) on Wednesday, feeling pressure after the Bank of Canada unexpectedly raised interest rates by 25bps after a long pause, sparking concern the US Federal Reserve also might not be done tightening policy. US 10-year and 2-year bond yield spiked by 2% yesterday. Moreover, the U.S. trade deficit jumped 23% in April to a six-month high of $74.6 billion is also concern in the global markets. However, small cap index major Russel 2000 index soared by 1%. Euro zone and Japan GDP data will be announce today. Traders focus on interest sensitive sectors like auto, nbfc and realestate on ahead of RBI policy today. Expects momentum to be continue on defence stocks.

 

·      US Market   –A drop in tech shares drove US equity indexes lower, while Treasuries retreated after a surprise Bank of Canada rate increase fueled bets the Federal Reserve is not done with its own tightening. The tech-heavy Nasdaq indexes fell more than 1%, with the likes of Alphabet Inc. and Microsoft Corp. off at least 2.5% while Dow Jones managed to ended positive territory.

 

·      Global market summary –US Yields on the policy-sensitive two-year rose more than 8 basis points to 4.56% as traders drove up bets for a quarter point hike in US interest rates by July.

 

·      Asian Market – Asian markets are poised to open lower in the wake of a slide on Wall Street as traders boosted bets on a U.S. rate hike after a surprise increase by the Bank of Canada. Shares in Australia, Japan and Hong Kong, Taiwan Index marginally decline. Japan GDP data to be announce today.

 

·      European Market –-- European shares were steady as strong updates from Zara-owner Inditex SA and Danske Bank A/S failed to stir a risk-on mood among investors watchfully preparing for key central bank meetings next week. UK, Germany and France Index ended flat to negative. Policy decisions are due from the Federal Reserve and the European Central Bank next week.

 

·      Oil –  Oil futures rose 2% to above $77/bbl, finding support after data showed China's crude imports rose in May and fall in US Inventory.

 

·      Gold – Gold slipped over 1% to $1945/ounce after the spiked in US bond yield on ahead of US rate decision to be announce next week.

 

·      Previous Day market Update –. There was renewed buying in TCS, Bajaj Auto, Reliance, Titan, L&T that lifted Nifty over 100 points to close at 6-month high of above 18700 level and Sensex topped above 63k for first time in 2023 ahead RBI credit policy to be announce tomorrow. Auto, metal, FMCG, sugar, real estate, mid and small cap stocks were major gainers today. IMD forecast monsoon may Start in 48 hours, FIIs turned into net buyers yesterday after net sellers in the last three trading sessions and hope of RBI to keep unchanged interest rate in the tomorrow credit policy meeting  have positive impact in the market. Moreover, better than expected PMI, GDP and auto monthly sales boosted the market sentiment. Among the global market, Bigger-than-expected drop in Chinese exports and disappointing Germany economy data pulled down European Index. However, Asian markets ended mixed bag after the China announced stimulus to boost its economy. Nifty rose 127 points  or 0.6% to end at 18726 and Sensex advance 350 points (0.6%) to close at 63143. Nifty 500 stocks advance decline ration was remain strong at 3:1. Both FIIs and DIIs were net buyers Rs1383cr and Rs392cr respectively.

 

·      Nifty Technical Levels – Nifty formed a Bullish candle on daily scale with longer lower shadow indicating support based buying at any minor dip. Index has given a range breakout on daily frame and gave the second highest ever close. Now it has to continue to hold above 18666 zones to witness an up move towards 18800 and 18888 zones while on the downside support exists at 18636 and 18580 zones.

 

·      Bank Nifty Technical Levels – Bank Nifty relatively underperformed the broader market and remained consolidative in narrow range of 200 points. Now it has to continue to hold above 44144 zones for an up move towards 44500 then 44750 zones while on the downside support exists at 44044 and 43750 zones.

 

·      Actionable BUY – Tata Steel, Olectra, ITI, Heramba Industries, Sona Comstar, Tata Motor

 

·      Brokers Radar – Morgan Stanley on Oil marketing companies - HPCL TGT at 249, BPCL TGT at 425 and IOC TGT at 111. Morgan Stanley TGT on Zomato at 85. 

 

·      Events –RBI Credit policy, Nifty and Bank Nifty weekly expiry. IKIO IPO subscribed 6.8 times in DAY-3, NIIT Ltd de-merger

 

·      Corporate Action  - Tata Power Rs2.00, Uniparts India Rs6, Seshasayee Paper - AGM and ex-dividend Rs6

 

·      Global Data – Consumer Credit, Initial Jobless Claims and  Household data (US). Housing Price Index  (UK). Industrial Production (Germany). Eurozone GDP and Japan GDP data.

 

·      Market Summary – Thyssenkrupp Bids For $5.2bn Indian Submarine Contract  with Mazagoan Dock. Tesla sets up for India entry for electric vehicles, Monsoon Rains May Start in 48 Hours, Cabinet okays $11 billion revival plan for state-owned BSNL, Monsoon Rains May Start in 48 Hours, Founder Firm Buys $17.8M Worth of Adani Ports Shares, HCL Technologies launches advanced testing facility for 5G Infrastructure.

 

·      Interest sensitive sectors to be focus ahead of RBI Policy today -  expected time 10am– Bank, auto and real estate stocks will be focus ahead of the Monetary Policy Committee decision on policy repo rate. MPC is likely to continue its status quo on the key lending rate at its second meeting in the new fiscal, amidst easing inflation and resilient growth. Expectation that the RBI to keep unchanged interest rate and may hike GDP growth forecast after a strong quarterly GDP reported during the month of May.

 

·      Aether Industries – One of India's leading speciality / fine chemical manufacturer and preferred provider of Contract Research and Manufacturing Services, has today signed a Letter of Intent (LoI) with one of the top 3 leading global Oil Field Services companies based in USA towards the finalization of a strategic supplier and contract manufacturing partnership – Positive

 

·      Mazagoan Dock - European defense manufacturer Thyssenkrupp Marine Systems and India’s Mazagon Dock Shipbuilders Ltd are set to construct submarines for India worth nearly Rs48000cr, signaling the country’s growing importance as ties between China and Russia deepen. – positive

 

·      Stove Kraft: Chief Financial Officer Balaji A S has resigned from the company citing personal reasons. The company is in the process of hiring a professional for the position of chief financial officer – Avoid.

 

·      Tech Mahindra – LIC Insurance Corp. has picked an additional stake in Tech Mahindra Ltd. at a time when the software services firm is staring at stagnant growth.The state-run insurer increased its stake in India’s fifth-largest IT services firm to 8.89% from 6.87% earlier at an average share price of Rs 1,050.77 – Positive

 

·      Tata Elxsi  - Company expands its automotive and smart mobility focus in North America with an Innovation Hub and nearshore engineering centre in Troy, working with some of the leading OEMs, suppliers, and automotive ecosystems in the region.- positive

 

·      Adani Ports Shares - Resurgent Trade and Investment, a Mauritius-based investment fund related to the Adani Group’s founders, bought 2 million shares of Adani Ports on June 6, according to data from the BSE.  The value of the shares bought was disclosed as Rs147cr or $17.8mn

 

·      Monsoon update - Monsoon rains will likely start in 48 hours after a severe storm delayed the weather event vital for the economy. Conditions are becoming favorable for the onset of monsoon over Kerala –IMD said .- Expects positive FMCG (HUL, Dabur India, Tata Consumer), auto (Herpo Motocorp, TVS Motor, Tata Motor, Maruti) and NBFC (M&M Finance)

 

·      HCL Technologies– Company announced the launch of advanced testing facility lab in Chennai for developing 5G infrastructure. The lab is currently equipped to test 5G telecom antennas for frequency bands up to 7 GHz - positive

 

·      KPI Green Energy - Company recieves LOI for 40 MW hybrid power project from Anupam Rasayan India. The hybrid project has 21.50 MW wind and 18.50 MW solar capacity

 

·      Venus Remedies – Company receives Ukrainian GMP approval for Carlapenem and Oncology production facilities in Baddi. Company is looking to expand in other EU markets after Ukrainian GMP approval – positive

 

·      Persistent Systems -  Company is strengthening its relationship with Amazon Web Services (AWS) and becoming a collaborator for the latest Generative AI services from AWS. As part of its goal to drive developer productivity. – Positive

 

·      Nelco – Company announced its investment in Piscis Networks Pvt an OEM and one of the pioneers in providing Software Defined Wide Area Network that improves network performance and reliability. This investment is an important step for Nelco to expand its service portfolio and elevate its position as an integrated network solution provider. This also reinforces Nelco's commitment to deliver comprehensive and innovative satellite communication solutions to its customers. – Positive

 

·      Infosys – Company announced a new Proximity Centre in Oslo, Norway as part of its continued expansion plan in the Nordics. The new state of the art centre will enable Infosys to attract, re-skill, and upskill local talent to work on global opportunities through next-gen technologies like cloud, AI, IoT, 5G, and software engineering. – positive

 

·      Wardwizard Innovations - Leading manufacturers of electric vehicles under the brand name "Joy e-bike', announced during this period, the company has successfully sold 993 units of electric two and three-wheelers.- positive

 

·      Aurionpro  - Company launched its first homegrown EMV Card Type Payment terminal (ECR-one) at the UITP Global Public Transport Summit, the world's leading conference and exhibition, being held in Barcelona, where public transport professionals converge to exchange ideas, foster innovation, and establish valuable connections. – positive

 

·      Maruti Suzuki – Company announces the launch of its highly anticipated off-roader Jimny at a starting price of Rs1,274,000. The Jimny will be available for deliveries starting today across all NEXA showrooms in the country. - positive

 

·      R Systems International - Company acquires Pune-based product engineering company Velotio Technologies for Rs 297 crore.- Positive

 

·      Wabag bags Rs 420 crore water treatment plant contract from CIDCO for 270 MLD capacity at Raigad. The plant will pump the treated water to the Vihal reservoir for further distribution. – positive

 

·      Focus on telecom stock as Cabinet okays $11 billion revival plan for state-owned BSNL - Cabinet has approved a revival package of 890.47 billion rupees ($10.79 billion) for state telecom operator Bharat Sanchar Nigam Ltd (BSNL) – expects positive for ITI, HFCL

 

·      Focus on Major EV Supplier - Tesla Sets Up For India Entry: - Tesla Inc, under the leadership of its CEO Elon Musk, has reportedly agreed in principle to the Indian government’s proposal to not just assemble its electric vehicles in India, but also to establish a local vendor base. The government has requested a roadmap from Tesla outlining the timeframe for establishing a local supply chain, expecting a response within three to six months.- Expects positive for long term – Bharat Forge, Sandhar Tech, Kabra Extrusion, Fiem Industries, Sona Somstar and Amara Raja Batteries .

 

·      China to Review Anti-Dumping Duties on Chemical From India - The Ministry of Commerce will review anti-dumping duties on meta phenoxy benzaldehyde imported from India from June 8, according to a statement from the ministry. Existing anti-dumping measures will continue to be implemented during the review, which will last as long as one year - Expects positive for Heranba as the company is a major player to produce phenoxy benzaldehyde.

 

·      Jindal Poly Films has entered into an agreement to acquire the 100% shareholding of JPF Netherlands Investment B.V. a Netherlands based entity, which is engaged into the business of packaging films business through its three operational wholly owned subsidiaries based out of France, Italy, and United Kingdom. – positive

 

·      Zydus Life - Company has received final approval from the USFDA for Tadalafil Tablets USP, 20 mg - positive

 

·      Lemon Tree Hotels – Company has signed a License Agreement for a 60 room property in Rajamundry, Andhra Pradesh under the Company's brand "Lemon Tree Hotel". – positive

 

·      Sula Vineyards – Company announced the signing on of a new CFO, and the launch of three new luxury villas at their iconic Beyond resort in Nasik. – positive

 

·      Wipro launched a managed private 5G-as-a-Service solution in partnership with Cisco . The new offering enables enterprise customers to achieve better business outcomes through the seamless integration of private 5G with their existing LAN/WAN/Cloud infrastructure. - positive

 

·      Datamatics – Company announced that it has been appraised at Level 5, the highest maturity level of the Capability Maturity Model Integration (CMMI) for Software Development and Business Process Management (BPM) Services. - positive

 

·      Tata Elxsi – Company has partnered with the prestigious Indian Space Research Organization (ISRO) to enable the upcoming Gaganyaan Mission

 

·      Loyal Equipments – Company wins Rs11.36cr of work order from Numaligarh Refinery – Positive

 

·      K&R Rail Engineering – Company has signed the Memorandum of Understanding (MOU) on 06th June, 2023 with Bhalaji Toll Road Private Limited with the intention of carrying out the services in the infrastructure segment of Toll Management, Construction and Maintenance of Highways and allied infrastructure facilities as per the Contract, for Operation and maintenance of roads and highways under the infrastructure sector.- positive

 

·      Titagarh Wagons – Company’s board meeting on 10th June for fund raising plan - Positive