June 2023: 7,025
↑ 95%
June 2022: 3,608
(Company)
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Sunday, July 2, 2023
NPAs of Indian banks
Net Non-Performing Assets (NPAs) of Indian banks (%): 🏦🇮🇳
2023: 1.0%
2018: 6.1%
2014: 2.2%
2010: 1.1%
2006: 1.3%
2002: 5.8%
(RBI Financial Stability Report, June 2023)
Money Times Talk - July 2, 2023
Money Times Talk - July 2, 2023
HAL to split its share from FV of Rs.10 to Rs.5 and has declared a final dividend of Rs.15. This Defence major is a multi-bagger in the long run. Accumulate.
Manappuram Finance plans to raise funds via. debt offerings for the augmentation of its business. Add in small lots.
PNC Infratech has an agreement with the Ministry of Road Transportation & Highways for three projects worth Rs.819 cr. to be completed in 24 months and operated for next 15 years. A big positive. Add.
Sterlite Tech has introduced a communication system for the Kochi water metro. The project will open up new opportunities for trade, commerce and social interactions. Add.
Pearl Global has announced its strategic expansion into Guatemala by acquiring 55% stake in Pearl GT Holdco Ltd. for $550000 which will be funded internally. A big positive. Add.
Hariom Pipes has commenced production at its Mahabubnagar plant and the total capacity of MS Pipes is now 132000 TPA from 84000 TPA. A big positive. Add.
Kamdhenu Ventures has approved a bonus issue in the ratio of 1:1. It is set to see newer heights. Add.
M&M has received a PLI eligibility certificate. Further, it plans to demerge some of its business verticals to unlock value for its shareholders. A big positive. Add for the long term.
In an attempt to unlock value, Lupin has chalked out plans to demerge its API business. Add for the long term.
Shakti Pumps has reportedly bagged new orders from Uganda and is gearing up to increase its capacity. Add.
The Central Govt. has offered loans of Rs.1.4 trillion to the States to push reforms in the power sector. PFC and REC can be big beneficiaries. Add on dips.
P&G plans to invest Rs.2000 cr. on a factory at Sanand, Gujarat, to make healthcare products and also make it an export hub. Add.
After losses for last three years, Tata Motors has posted profit of Rs.2689 cr. It has plans to generate 50% of its revenue from the EV segment. Add in small lots.
Sheela Foam is set to acquire Kurlon for Rs.3250 cr. which will help enhance its market share and improve its hold in the market. A big positive. Add.
The Govt. is planning a subsidy scheme for making electricity grid batteries worth Rs.21600 cr. This scheme could benefit Eveready. Add.
Canara Bank will raise Rs.7500 cr. via. Tier-I and Tier-2 bonds for onward lending and improving its capital adequacy norms. Buy.
Karnataka Bank stated that the current working is excellent and it will scale new heights in the future. Add on dips.
BEL has won orders worth Rs.2191 cr. from the Defence Ministry for supply of long-range guidance kit with a warhead, airborne V/UHF jammers and other products. A big positive. Add.
Paytm has partnered with Shriram Finance to offer financial services to its users and it may recover the lost ground. Risk bearing investors may add in small lots.
Kalpataru Projects has bagged orders worth Rs.1008 cr. in the transmission and distribution business. Add for the long term.
Hindware Home Innovations is a fast growing company in its segment and is planning to launch a wide range of latest products in the market. Add.
Indian Bank notched FY23 EPS of Rs.44.8, which may lead to FY24 EPS of Rs.55+. A reasonable P/E of 8x could take its share price to Rs.440+. Add.
Canara Bank notched 77% higher FY23 EPS of Rs.62, which may lead to FY24 EPS of Rs.72+. A reasonable P/E of 8x could take its share price to Rs.576. Buy.
Repco Home Finance notched 62% higher FY23 EPS of Rs.50.6, which may lead to EPS of Rs 62 in FY24.
Cigniti Technologies has announced its recognition as Product Challengers and Contenders in the ISG Provider Lens Digital Engineering Services 2023 Study. It notched FY23 EPS of Rs.60 which may lead to FY24 EPS of Rs.72. Buy.
Karnataka Bank shares are being grabbed by investors as it posted FY23 EPS of Rs 37.8 and set to garner Rs 48 in FY24. EPS of Rs.62. MFs and FPIs together hold 32% stake in the in company. Buy.
Chamanlal Setia notched 82% higher FY23 EPS of Rs.22.8, which may lead to FY24 EPS of Rs.30+. Buy.
Chennai Petroleum shares are being bought by interested parties as this Indian Oil subsidiary has notched FY23 EPS of Rs.231. Add for good returns.
Geekay Wires notched 204% higher FY23 EPS of Rs.26, which may lead to FY24 EPS of Rs.45. Buy.
KKR's Highways Infrastructure Trust may acquire 12 road projects from PNC Infratech for Rs.9000 cr. in addition to its order book of Rs.15676 cr. as at FY23. Add.
PFC recorded FY23 PAT of Rs.15889.33 cr. while it is available at market cap of Rs.51984 cr. The book value of its share is Rs.319. Accumulate.
Hindustan Oil Exploration posted FY23 NP of Rs.194 cr. from Rs.20 cr. YoY. It is plans to drill 18 wells in Arunachal to increase its production. Keep it on your radar.
ITD Cementation’s FY23 PAT rose 80% and FY24 looks more promising. It has huge orders on hand worth Rs.20044 cr. Add for good returns.
Anantraj’s FY23 NP zoomed 176% and it has aggressively ventured into the Data Centres business, which is a highly profitable rental business. Add.
Texmaco Rail’s Q4FY23 PAT zoomed 222%. It has bagged an order for 20067 wagons worth Rs.6450 cr. and more big orders are in pipeline. In FY24, a growth of 30-35% is expected due to huge order book. Add,
TAJ GVK Hotels posted 706% higher PAT in FY23. Its share trades at a P/E of 18.6x which is the cheapest compared to EIH, Chalet Hotels, Lemon Tree Hotels etc. Add for hefty gains.
NTPC made 52-week high on 30th June with big volumes and is likely to hit double century very soon. Keep it on your radar.
Himatsingka Seide’s Q4PAT rose 178% to Rs.22.35 cr. from Rs.8 cr. in Q4FY22. Its Q1FY24 profit is likely to improve further due to sharp decline in cotton prices. Add.
Shilp Gravures recorded PAT of Rs.7.81 cr. HNI Ashok Lodha holds 2.42%, S. D. Patel holds 1.44% and M. Lodha holds 1.43%. The share is at very attractive valuation cum 21% dividend. Add.
Friday market rumours had it that Poonawala Fincorp or Blackstone group may take a stake in Indiabulls Hsg. Finance. If this happens, it can cross its 52-week high of Rs.159. Add.
Sigachi Ind. will issue 1,10,00,000 convertible warrants at Rs.261 to the promoters and certain non-promoter entities. Add for good returns.
Gulshan Polyoils CMP is below its QIP price of Rs.326. In FY23, a huge capex revalued its fixed assets from Rs.200 cr. to Rs.800 cr. Its new grain based Ethanol plant of 500 KLPD capacity is operational. Add for hefty gains.
NRB Bearing’s Q4 PAT rose 93% from Rs.17.46 cr. in Q4FY22. The promoters bought 132716 shares on 23rd June from the open market. HDFC Small cap Fund holds 9.25% stake in it. Add for good returns.
BDH Industries exports therapeutic formulations to over 60 countries and posted excellent results in FY23. It is available at very attractive valuation cum 40% dividend. Keep it on your radar.
Hariyana Ship Breakers notched Q4 EPS of Rs.6. Its P/BV is just 0.36x. It is a big beneficiary of the scrapping policy. The promoters hold 75% of the equity capital. Add for hefty gains.
Sinclair Hotels notched Q4 EPS of Rs.7.33 and a dividend of 75% has been declared. It recently did a buy-back at Rs.143. Buy for hefty gains.
FIIs are continuously raising their stake in NCC and Prakash Industries. Keep them on your radar.
Kuantum Papers has approved the capex projects for modernization worth Rs.285 cr. India’s Paper industry is expected to grow at a CAGR of 6.63% by 2028. Buy.
ThinkInk Picturez FY23 revenue rose 170% YoY. It has an inventory of 50+ stories which includes films, web series and TV shows that are to be rolled out in partnership with renowned M&E players. Add for good returns.
Mishtann Foods promoters recently increased their stake. It also reported stellar earnings for Q4FY23. Earlier, Nomura Singapore Ltd. ODI, increased its stake to 1.28%. Buy.
Rajesh Exports had signed a pact with the Karnataka Govt. for a 5 GWh lithium-ion cell factory for Rs.181 billion PLI programme to produce advanced chemistry lithium-ion cells. Add.
Suzlon Energy has 20 GW wind energy installations across 12647 wind turbines across 17 countries. Its order book stood at 652 MW as at FY23 and orders secured subsequently stand at 890 MW. Add for hefty gains.
Univastu India’s FY23sales rose 36.67% to Rs.80.13 cr. from Rs.58.63 cr. in FY22. Its EBITDA improved from Rs.12.84 cr. to 14.69 cr. and PAT grew from Rs.5.22 cr. to Rs.6.58 cr. which may rise t in coming years as it consistently bags new orders. Add.
Synoptics Technologies maiden in IPO on NSE SME opened on 30th June and will close on 5th July. Co. had a robust order book of Rs 28 cr. as of 31st May. Financially,it posted 57% growth in revenue and 137% in PAT in FY 22.
Cressanda Solutions’ Rs. 49.30 cr. Rights Issue opened for subscription. Company has entered the A Group – a big positive for the stock with a long-term perspective.
Permanent Magnets share has quadrupled on use of magnets in electric cars. A hidden gem in the same space is Delta Magnets. At the CMP of Rs.77 with 52-wekk high/low of Rs.108/61, it could provide good returns. Add.
VFX players are enjoying a booming business. Prime Focus, an old and established VFX player, is a fundamentally strong company. Its stock trades at a P/E of just 10x. Keep it on your radar.
Keep Automotive Stampings on radar as it not only supplies to parent Tata Motors but also to other OEMs. Its 52-week high price is Rs.900+ whereas the stock trades at around Rs.400. Accumulate.
Welspun Enterprises which is into waste management, plans to double its revenues and profits in the coming two years. Add for the long term.
In a growing economy, financial services play a key role. Must look at Shriram Finance, which is diversifying after restructuring. A proven management track record and low valuation makes it attractive.
L&T Finance is restructuring its businesses. Again an attractive valuation
Also look at *Cholamandalam*. A trustworthy corporate house with consistent growth
Dhunseri Ventures is into PET resin, Fast Food chain & Infrastructure. It posted FY23 NP of Rs 542 cr. in FY23 with an EPS of Rs 155. Stock is trading below PE of 2x. With a strong balance sheet and all businesses doing well buy it for 50% returns in the short term.
Summit Securities, holding co. of the RPG group, is valued around Rs 7700 cr. but the stockis trading at 90% discount to its NAV of Rs 7000/ share whereas holding cos. of other groups trade between 50% to 75% discount only. It may cross 4 digit mark soon. Buy.
Money Times Talk is part of 'Money Times' publication.
Saturday, July 1, 2023
SGX Nifty
*SGX Nifty will start trading on NSE IFSC on July 3rd as GIFT NIFTY*
*Timings - 2 sessions*
1 - Morning - 6.30 am to 3.40 pm
2 - Evening - 4.35 pm to 2.45 am
last 𝟰𝟯 𝘆𝗲𝗮𝗿𝘀 𝗼𝗳 𝗱𝗮𝘁𝗮 𝗼𝗳 𝗦𝗘𝗡𝗦𝗘𝗫
Analysis of the last 𝟰𝟯 𝘆𝗲𝗮𝗿𝘀 𝗼𝗳 𝗱𝗮𝘁𝗮 𝗼𝗳 𝗦𝗘𝗡𝗦𝗘𝗫
🔰 There were around 𝟭𝟭,𝟬𝟬𝟬 𝘁𝗿𝗮𝗱𝗶𝗻𝗴 𝗱𝗮𝘆𝘀 in the last 43 years.
🔰 Observations on positive and negative return occurrences.
𝗗𝗮𝗶𝗹𝘆 - 53% time Positive and 47% time Negative.
𝗪𝗲𝗲𝗸𝗹𝘆 - 56% time Positive and 44% time Negative
𝗠𝗼𝗻𝘁𝗵𝗹𝘆 - 61% time Positive and 39% time Negative
𝗤𝘂𝗮𝗿𝘁𝗲𝗿𝗹𝘆- 64% time Positive and 36% time Negative
𝗬𝗲𝗮𝗿𝗹𝘆 - 72% time Positive and 28% time Negative
𝟯 𝘆𝗲𝗮𝗿𝘀 - 89% time Positive and 11% time Negative
𝟱 𝘆𝗲𝗮𝗿𝘀- 96% time Positive and 4% time Negative
𝟭𝟬 𝘆𝗲𝗮𝗿𝘀- 100% time Positive and 0% time Negative
🔰 SENSEX delivered 𝟭𝟱.𝟱% 𝗖𝗔𝗚𝗥 returns over the last 43 years.
🔰 𝗗𝗲𝗰𝗮𝗱𝗮𝗹 𝗿𝗲𝘁𝘂𝗿𝗻𝘀 dispersion (CAGR)
𝟭𝟵𝟴𝟬-𝟭𝟵𝟵𝟬 - 21.6%
𝟭𝟵𝟵𝟬-𝟮𝟬𝟬𝟬 - 14.3%
𝟮𝟬𝟬𝟬-𝟮𝟬𝟭𝟬 -17.8%
𝟮𝟬𝟭𝟬-𝟮𝟬𝟮𝟬 - 8.8%.*
2020~ 2022 - 24.8%
🔰 BSE Sensex returns 15.5%, if we add an average dividend yield of 1.4% for the last 43 years.
At 16.9% compounding the value of BSE is actually around 𝘁𝗵𝗲 𝟴𝟬,𝟬𝟬𝟬 𝗹𝗲𝘃𝗲𝗹.🚀
🔰 Longest 𝗽𝗲𝗿𝗶𝗼𝗱 𝘄𝗶𝘁𝗵𝗼𝘂𝘁 𝗿𝗲𝘁𝘂𝗿𝗻𝘀 was from 1994 to 2003. 9 years in total.
🔰 Since 2002, in the last 18 years 𝗡𝗢 𝘀𝗶𝗻𝗴𝗹𝗲 𝟳 𝘆𝗲𝗮𝗿𝘀 𝗿𝗼𝗹𝗹𝗶𝗻𝗴 𝗿𝗲𝘁𝘂𝗿𝗻𝘀 𝘄𝗲𝗿𝗲 𝘄𝗶𝘁𝗵𝗼𝘂𝘁 𝗿𝗲𝘁𝘂𝗿𝗻𝘀.
This means since 2002 if you ever invested and kept money for a minimum period of 7 years then you would have 𝗻𝗲𝘃𝗲𝗿 𝗹𝗼𝘀𝘁 𝗺𝗼𝗻𝗲𝘆.
🔰 But what is most surprising and rewarding has been the performance of actively managed equity funds. Here are the data:
𝗖𝗮𝘁𝗲𝗴𝗼𝗿𝘆𝘄𝗶𝘀𝗲 𝗿𝗲𝘁𝘂𝗿𝗻𝘀 𝗳𝗼𝗿 𝟮𝟬 𝘆𝗲𝗮𝗿𝘀 (𝗖𝗔𝗚𝗥)
𝗛𝘆𝗯𝗿𝗶𝗱 - 15.96%
𝗗𝗶𝘃𝗲𝗿𝘀𝗶𝗳𝗶𝗲𝗱 -16.25%
𝗘𝗟𝗦𝗦 - 18.20%
**𝗔𝗹𝗹 𝗙𝘂𝗻𝗱𝘀 - 16.41%*
** excluding LIC/JM/Taurus/Quant MF schemes.
🔰 𝗦𝗘𝗡𝗦𝗘𝗫 𝘄𝗮𝘀 𝗮𝘁 𝟯𝟴𝟬𝟬 𝗶𝗻 𝗝𝘂𝗻𝗲 𝟭𝟵𝟵𝟲 (𝟮𝟲 𝘆𝗲𝗮𝗿𝘀 𝗯𝗮𝗰𝗸).
In the last 26 years, average-ex MF delivered 18% CAGR.
Had Sensex delivered as much as average MF schemes then the value of BSE Sensex should have been:
At 16.4% CAGR, SENSEX should be around 1,70,000 levels
At 18% CAGR, SENSEX should be around 2,38,000 levels.
Isn't this amazing !!!
SGX Nifty
*SGX Nifty will start trading on NSE IFSC on July 3rd as GIFT NIFTY*
*Timings - 2 sessions*
1 - Morning - 6.30 am to 3.40 pm
2 - Evening - 4.35 pm to 2.45 am
Mutual Fund AUM
Size of India’s Mutual Fund industry in May (Total AUM in Rs. Lakh Crore): 🇮🇳📈
2023: 42.9
2022: 37.3
2021: 32.9
2020: 24.3
2019: 25.4
2018: 22.6
2017: 19.0
2016: 13.8
2015: 12.0
2014: 10.1
(AMFI)
SAVINGS RATES
GOVERNMENT HIKES SMALL SAVINGS RATES ||
GOVT HIKES SMALL SAVINGS RATES MARGINALLY BY 10 TO 30 BPS || RATES FOR PPF, NSC, KISAN VIKAS PATRA, SENIOR CITIZEN SCHEME, SUKANYA SAMRIDHHI SCHEME UNCHANGED
Muthoot Finance in Focus
Muthoot Finance in Focus
MUTHOOT MICROFIN LIMITED FILES DRHP WITH SEB
Muthoot Microfin is the 4th largest NBFC-MFI in India in terms of gross loan portfolio
Co. plans to raise funds via IPO upto Rs. 1350 crore
(Fresh + OFS)
FII and DII data
FII and DII data Cash segment 30th June
FII net buy ₹ 6397 cr
DII net buy ₹1197 cr
Again Massive Buying from FII
Infact both FII and DII on buying side that took Sensex, nifty , bank nifty and fin nifty to ATH
GST collection for June 2023
GST collection for June 2023
🔸₹1,61,497 crore gross GST revenue collected for June 2023; records 12% Year-on-Year growth
🔸Gross GST collection crosses ₹1.6 lakh crore mark for 4th time since inception of GST; ₹1.4 lakh crore for 16 months in a row; and ₹1.5 lakh 7th times since inception
🔸Average monthly gross GST collection for Q1 of FY2021-22 is ₹1.10 lakh crore; FY2022-23 is ₹1.51 lakh crore; and FY2023-24 is ₹1.69 lakh crore, respectively
Source: PIB
#icicidirect
Friday, June 30, 2023
FII and DII data
FII and DII data Cash segment 30th June
FII net buy ₹ 6397 cr
DII net buy ₹1197 cr
Again Massive Buying from FII
Infact both FII and DII on buying side that took Sensex, nifty , bank nifty and fin nifty to ATH
June Auto Sales
*June Auto Sales Estimates YoY (To be announced on 01st July 2023):*
*Ashok Leyland:* 17417 units versus 14531 units ( *Up 1.1%* )
*Tata Motors:* 77978 units versus 82570 units ( *Down 5.8%* )
*M&M Auto:* 62100 units versus 54096 units ( *Up 15.0%* )
*M&M Tractor:* 40980 units versus 41848 units ( *Down 2.0%* )
*Maruti:* 1.68 lakh units versus 1.56 lakh units ( *Up 8.0%* )
*Hero Motocorp:* 5.1 lakh units versus 4.85 lakh units ( *Up 3.1%* )
*TVS Motors:* 3.24 lakh units versus 3.08 lakh units ( *Up 5.0%* )
*Bajaj Auto:* 3.50 lakh units versus 2.75 lakh units ( *Up 1.1%* )
*Eicher Motors RE:* 77000 units versus 61407 units ( *Up 24.8%* )
News and Impact
News and Impact
Favourable domestic economy data, impressive July series F&O rollover and persistent FIIs buying interest may open domestic market on a positive note. SGX Nifty is up over half percent or 100 points after previous day closed on a record high. In the US Mraket, better than expected US Q1 GDP data (up 2% while expectation 1.4%) and most of the US Banks cleared stress test (means well capitalized) lifted US market gained nearly 1%. However, US Dollar Index spiked to 1-month high to above 103 and rising US Bond yield after the US Labor Department data showed Thursday that US jobless claims fell last week by the most since 2021. Stronger-than-expected data on the US economy kept Wall Street on alert for further interest-rate hikes by the Federal Reserve. On the other hand, US Fed chairman Powell on Wednesday said policymakers could potentially raise interest rates in July and September. Back home, expects rally to continue due to improving domestic macroeconomic conditions, better corporate earnings and fall in monsoon deficiency will boosted the market sentiment. Traders focus on auto stocks ahead of monthly sales data to be announce next week. Banking stocks may positive after the RBI says thet the bad-debt ratios fall to decade low at Indian Banks.
· US Market – U.S. stocks ended mixed on Thursday as fresh economic data indicated that U.S. growth remains resilient and the country's largest lenders passed the Federal Reserve's annual stress test. Dow Jones gained over half percent while Nasdaq Composite ended flat. However, Dow Jones ended flat after adjustment of last couple of days (Indian equity was shut on Thursday).
· Global market summary – US Q1 GDP reported better than expected at 2% vs 1.3% (previous quarter) while expectation was 2%. Gold fell to 3 months low. US 2-Year and 10-Year Bond surged to nearly 1-month high. US Dollar Index surged to 1-month high to above 103.
· Asian Market – Asian stocks open on a mixed bag to the last day of the quarter following a choppy session for US equities as Treasury yields soared on bets on further tightening by the Federal Reserve. Japan, Australia Index declined half percent each while Taiwan and South Korea Index marginally gain. Australian and New Zealand sovereign bond yields jumped about nine basis points in early trading, as the upward pressure on rates flowed through into Asia. Economists expect the Reserve Bank of Australia to hike rates at its meeting next week
· European Market – European stocks ended mixed bag with banks outperforming after Wall Street peers passed the Federal Reserve’s annual stress test. UK Index slipped 0.4% while France Index advance 0.4%. European equities have been stuck in a range recently, with the rally capped by worries about an economic slowdown as central banks drive home the message that rates will stay higher for longer.
· Oil – Crude oil futures prices gained on Thursday upon continuous support from bullish U.S. oil inventory data last week. Brent Crude is hovering at $74/bbl.
· Gold – Gold is trading flat to $1908/ounce after intra-day fell to below $1900/ounce following US unemployment data that raised expectations for more tightening by the Federal Reserve
· Previous Day market Update – Bulls was back in the Dalal Street ring after a long time. Equity market scaled record high levels as across the major Index – Nifty, Bank Nifty, Fin-Nifty and Sensex surged to record high amid strong domestic cues were supported by gains in global markets. The benchmark index Nifty rose nearly a percent to hit its fresh all-time high level of above 19,000, while the Sensex also jumped to a record level, crossing 64,000-mark. Bank Nifty and Fin-Nifty soared to record above 44500 level and 19950 level respectively. Nifty took nearly seven months for the Nifty to cross its earlier record level of 18,887 hit on December 1 last year. Strong buying from foreign institutional investors (FII), improving domestic macroeconomic conditions, better corporate earnings and fall in monsoon deficiency boosted the market sentiment. Auto, metal, FMCG, Pharma and IT stocks were major gainers today. Nifty soared 154 points 0r 0.8% to close 18972 while touched intra-day high of 19011. Bank Nifty advance 206 points or 0.5% to close at 44327 while touched intra-day high of 44508. FIIs were net buyers Rs12350cr (Block deal on Adani Group) while DIIs were net sellers Rs1021cr previous day.
· Nifty Technical Levels – Nifty formed a Bullish candle on daily scale and given a consolidation breakout of last ten trading sessions. It has been forming higher highs on weekly scale from last fourteen weeks and supports are gradually shifting higher. Now it has to continue to hold above 18888 zones to extend the move towards 19200 and 19250 zones while on the downside support exists at 18888 and 18777 zones.
· Bank Nifty Technical Levels – Bank Nifty overall trend is strong with buy on dips stance. Now it has to hold above 44250 zones for an up move towards 44500 then new life high of 44750 zones while on the downside support is seen at 44250 then 44044 levels Actionable BUY – IndiGo, Indian Hotel, SBI, Bajaj Finance,
· Brokers Radar – CLSA TGT on Tata Motor at 700, 360 One TGT by Citi at 600, Morgan Stanley TGT on MCX at 1125, JEF MAN 1830, MCX TGT . Man Jef 1830, L&T TGT by JP Morgan at 2900. TATA Motor TGT by Macquarie at 624 and Nomura TGT at 610. Bajaj Auto TGT by Macquarie at 4541 and Nomura TGT at 5223.
· Events – Wipro Buy-back final day, Fiscal Deficit and Eight Infrastructure Industries data, Aadhar PAN card link final day today.
· Corporate Action - Aegis Logistic Rs1.20, Alufluoride Rs2, Bajaj Auto Rs140, Bajaj Holding Rs13, Bajaj Finance Rs30, Bank of Baroda Rs5.50, Ddev Plastiks Industries Bonus 1:10, Glaxo Pharma Rs32, Maharashtra Scooter Rs60, Nippon Life Rs7.50 and Sona BLW Rs1.53
· Global Data – Personal Income and Personal Spending (US). Quarterly GDP, Private Consumption and Export & Import (UK). Retail Sales, Unemployment Change and Exports & Import (Germany). CPI, Consumer Spending and PPI (Germany). – Manufacturing PMI and Non-Manufacturing PMI (China).
· Market Summary – Tata Communications to Acquire US-based Kaleyra for About $100, Sheela Foam to acquire rival Kurlon in Rs 3,250 cr deal: Report, Tejas Mk 2 to be ready for first flight by 2025 after HAL-GE Aerospace deal, Bandhan Bank triples its branch presence in less than 8 years, US-India Plan to Make Artillery Guns, Armored Vehicles, Govt approves PM-PRANAM to boost balanced use of fertilisers; Rs 3.68 lakh cr subsidy on urea till Mar 2025, Bad-Debt Ratios Fall to Decade Low at Indian Banks, RBI Says, MCX extends support services contract with 63 Moons for another six months at ₹125 crore per quarter, ICICI Securities to be 100% subsidiary of ICICI Bank upon delisting
· Tata Communications – Company agreed to acquire US-based communications services provider Kaleyra for about $100 million. The acquisition will help Tata Communications expand its communications platform-as-a-service business globally.
· Multi Commodity Exchange - Company has extended the support services being rendered by its existing software vendor, 63 Moons Technologies Ltd. for six months beginning from July 1, 2023. In a regulatory filing, MCX informed that the consideration for the same would be ₹125 crore per quarter. – Avoid
· ICICI Securities - Company will delist and become a wholly-owned subsidiary of parent ICICI Bank. The company stated that the board of directors had approved the delisting plans and agreed on a share swap ratio. The public shareholders of ICICI Securities would be allotted 67 shares of ICICI Bank for 100 shares each of the brokerage firm
· Focus on Banking stocks - Soured-debt ratios at Indian banks narrowed to the lowest in 10 years as the nation’s financial system remained resilient despite global headwinds, according to the Reserve Bank of India. The bad-loan ratio was at 3.9% of the total loans at the end of March 2023 compared to 5.9% in the previous year. The central bank expects the ratio to fall further to
· 3.6% by March 2024. – expects positive for SBI, Bank of Baroda, Union Bank, Canara Bank, Indusind Bank, RBL Bank
· Focus on Fertilizer stocks – Government approved a new scheme PM-PRANAM to incentivise states to promote alternative fertilisers and reduce the use of chemical fertilisers and also decided to continue the current urea subsidy scheme for three years ending March 2025, with an outlay of Rs 3.68 lakh crore.- Expects positive for Chambel Fertilizer, Coromandel, GNFC, GSFC, RCF, FACT.
· IPO Listing Sebi has approved a proposal to reduce the time period for listing shares for initial public offerings (IPOs) from 6 days to 3 days. The new timeline will be implemented in two phases, with voluntary compliance starting from September 2023 and mandatory compliance from December 2023.
· SBI Life – Company re-appoint Sharma as MD and CEO - Positive
· Focus on defence stock - The US and India plan to jointly manufacture artillery guns and armored personnel carriers, said the US Ambassador to India Eric Garcetti in New Delhi on Wednesday.- expects positive for BEL, Bharat Dynamic, Bharat Forge.
· Sheela Foam to acquire rival Kurlon in Rs 3,250 cr deal: Report - Sheela Foam will fully acquire rival Kurlon Enterprise Ltd, buying 100 percent of the company in two tranches for a cash consideration of Rs 3,250 crore. Acquiring Kurlon Enterprise, maker of the Kurl-on brand of mattresses, will help Sheela Foam, known for the Sleepwell brand, nearly double its market share.- positive
· Bharat Petroleum: The company’s board approved raising up to Rs 18,000 crore via rights issue. - positive
· PowerGrid: The company approved an aggregate investment of Rs 388.94 crore. It will invest in establishment of Telecom network for NTAMC at an estimated cost of Rs 164.38 crore, Western Region expansion scheme at an estimated cost of Rs 115.09 crore – positive
· HDFC: The company acquired 612 equity shares of Xanadu Realty, representing 5.46% of its paid-up equity share capital upon conversion of 938 compulsorily convertible debentures held by it in Xanadu – positive
· Canara Bank: The bank approved Rs 7,500 crore by way of debt instruments. – positive
· Tata Chemicals: Life Insurance Corporation increased stake from 5.06% to 7.12%.- positive
· IPO Update - PKH IPO open today with Price band between 140-148. Idea forging IPO subscribed over 50 time
· ITC – Company has completed the acquisition of an additional 857 compulsorily convertible preference shares of Rs10 each of personal care products brand Mother Sparsh Baby Care for Rs11.54cr. With this, the company’s shareholding in Mother Sparsh has increased to 26.50% from 22% - Positive
· TVS Motor Ties Up with Zomato for Last-Mile Deliveries – Company partnered with food ordering platform Zomato for last-mile deliveries using electric vehicles. TVS Motors will deploy 10,000 scooters to fulfill deliveries for Zomato and ensure the delivery partners will have access to charging stations – positive
· Hariom Pipe – Company has completed installation and commenced production from two new MS Pipe Mills at plant located at Mahabubnagar District. With this, the total installed capacity of MS Pipes has gone up to 1,32,000 MTPA from the current 84000 MTPA – positive
· Nykaa - FSN E-Commerce Ventures has approved the following investment proposals: - To make further investment up to Rs20cr in FSN International Pvt a wholly owned subsidiary of the Company, on rights basis; and to make further investment up to USD 2mn by FSN International in one of its overseas subsidiaries viz., Nessa International – Long term positive
· Bandhan Bank – Company has achieved a milestone of tripling its branch presence in less than 8 years of its operations. The Bank now has a total of more than 1,500 bank branches – positive
· Kamdhenu Ventures – company’s Board recommends Bonus Issue in the ratio of 1:1 – positive
· BEML – Company wins 385cr order for supply of high mobility vehicle – positive
· Promoter entities raise $1 bn by selling shares in Adani Green Energy, AEL - The promoter entities of Adani group sold part of their stake in Adani Green Energy and flagship Adani Enterprises to raise $1bn The proceeds will be used by the promoters to pre-pay debt, banking sources said. About 4.8cr shares, or 3 per cent of total equity of Adani Green changed hands and 1.6 per cent stake or 18 million shares in AEL was sold via block deals to several investors. Total shares worth Rs 8,542 crore were sold.
· Focus on Sugar stocks – Sugar cane price hike from Rs305 to 415/100kg – expects positive for Balrampor Chini,, Dhampur Sugar
· Tejas Mk 2 to be ready for first flight by 2025 after HAL-GE Aerospace deal - Tejas Mk 2 light combat aircraft (LCA), which has faced delays, is expected to make its first flight in 2025 with an American engine. GE Aerospace has signed a deal with Hindustan Aeronautics Limited (HAL) to produce fighter jet engines.
· Kamdhenu Ventures – Company has, considered, approved and recommended a Bonus Issue in the ratio of 1:1 – positive
· IDFC FIRST Bank - Company has announced raising Rs. 1,500 crore of Tier-2 bonds in domestic Indian Bond markets.
· Star Housing – Company announced the appointment of Kalpesh Dave as the Chief Executive Officer and Anoop Saxena as the Chief Operating Officer
· Inflame Appliances – Company has bagged an order for 3650 Chimneys from LIVPURE PRIVATE LIMITED, Haryana amounting to Rs. 1.95 crores, and thereby expanding its customer base and adding one more milestone to its expansion. – positive
· Gland Pharma - The US FDA has conducted Pre-Approval Inspection (PAI) for Seven (7) Products and Good Manufacturing Practice (GMP) Inspection at the Company's Pashamylaram Facility at Hyderabad between 15th June 2023 and 27th June 2023. The inspection was concluded with ONE (1) 483 Observation. – Avoid
· Swan Energy – Company to raise Rs. 690 crore through preferential issue at Rs300 a share (CMP 256) – Positive
· Ramco Cements – Company have commissioned Line III at its Ramasamy Raja Nagar of 3,000 TPD capacity of clinkerisation. This is the first integrated cement line, commissioned in the last 15 years in the South of Tamil Nadu. – positive
· Pearl Global – One of the largest garment exporters has announced its strategic expansion into Guatemala, company has acquired a 55% stake in Pearl GT Holdco Ltd for a consideration of USD 550,000. – positive
· Shalby Ltd – Company has signed an agreement with Divine Super Specialty Hospital Pvt. Ltd., a leading hospital in Ranchi having capacity of 60 beds, to establish a Franchise‐Owned Shalby‐Managed (FOSM) hospital in the region. – positive
· PNC Infratech – Company signing of a concession road agreement projects between Ministry of Road Transport & Highways Govt of India for implementation of the Hybrid Annuity Mode (HAM) road Project in Uttar Pradesh – positive
· ICICI Lombard and ICICI Prudential Life – Both companies have jointly launched an insurance solution, 'iShield', which will provide customers with both health and life insurance.- positive
· South Indian Bank – Company signed an MOU with Mahindra and Mahindra Ltd (Automobile division) for providing the latter's dealers with financing solutions.- Positive
· ZIM Laboratories – Company has announced strategic investments in Australia and the MENA region to expand its presence in Developed and Pharmerging markets. – positive
· Zydus Lifesciences – Company has received tentative approval from the USFDA for Palbociclib Tablets - positive
· Focus on Real Estate stocks - Home prices up 14.7% in June quarter in top cities: ET Report - Expects positive for real estate stocks after the media report that the robust demand has helped residential property prices across India's top 13 cities witness 14.7% growth from a year ago and 2.2% rise sequentially during the quarter ended June 30, showed a Magicbricks PropIndex report. Expects positive DLF, Oberoi Realty, Godrej Properties, Prestige Estate and Lodha
Derivatives update
*Derivatives update*
Good morning !!
Derivatives update for Friday, 30th June 2023.
India VIX was up by 1% from 10.78 to 10.88 levels. Volatility is holding below 11 zones which is supporting the bulls.
Nifty *Put/Call Ratio* (OI) increased from 1.21 to 1.41 level.
Since it’s the beginning of the new series, Option data is scattered at various far strikes in monthly series. On weekly front, Maximum Call OI is at 19200 then 19300 strike while Maximum Put OI is at 18900 then 18800 strike. Minor Call writing is seen at 19300 then 19200 strike while Put writing is seen at 18900 then 18800 strike.
*Option data suggests a broader trading range in between 18600 to 19300 zones while an immediate trading range in between 18750 to 19200 zones.*
For weekly Bank Nifty, Maximum Put OI is at 44000 then 43000 strike and maximum Call OI is placed at 44500 then 45000 strike. We have seen minor Call writing at 44500 and Put writing is witnessed at 44500 strike as well.
Bank Nifty Put Call Ratio decreased from 1.46 to 1.19. Implied volatility rose from 12.04 to 12.40 levels.
Bank Nifty (CMP 44,327.8)
Data setup for Bank Nifty suggests a trading range in between *44044/44250 to 44500/44750 zones.*
Looking ahead at the FII’s derivatives activity, there was position unwinding in index futures, index options and stock futures.
In the cash market, FIIs were net buyers to the tune of 12350 crores while DII’s were net sellers worth 1021 crores. FIIs Index Long Short Ratio increased to 66.42%.
Derivatives data and price set up suggests, Nifty has to continue to hold above 18888 zones to extend the move towards 19200 and 19250 zones while on the downside support exists at 18888 and 18777 zones.
Bank Nifty has to hold above 44250 zones for an up move towards 44500 then new life high of 44750 zones while on the downside support is seen at 44250 then 44044 levels.
Thank you. Have a great trading day and weekend ahead..!!
Tuesday, June 27, 2023
Advisory Desk
From Advisory Desk 27th June 2023
Market Outlook: US market closed lower due to profit booking in heavyweight stocks. However, futures were trading slightly higher ahead of FED Chairman Powell's speech. Asian markets have begun with a mixed performance, while the SGX Nifty is indicating a flat to positive opening. On the domestic front, there has been a significant decrease in monsoon deficiency from 47% to 28% within a week, which is positive for our market, particularly for sectors like Auto and FMCG. Yesterday, Nifty did not follow the selling trend seen in the previous two sessions and is holding above the lower end of the current range and 20 DEMA. We continue with our buy on dips strategy with a stock-specific approach. Today being weekly expiry, we expect Finnifty's range to be 19300/19400-19625/19778. Tomorrow, our market will be closed due to a public holiday.
Actionable: Buy M&M, Godrej Properties, Trent.
Global market:
DOW: - 12
SGX NIFTY: + 30 (prev. close 18704)
NIFTY 50 : 18691
Sensex : 62970
Institution:
FII: - 409 Cr
DII: + 250 Cr
NSE:
Advances: 1797 / Declines: 1860
Currency:
Dollar: $ 82.04
Dollar Index: 102.62
Commodity:
Gold: $ 1937 per ounce
Crude: $ 74.70 per barrel
Bonds:
10 year US bond rate: 3.72
10 year Indian Bond rate: 7.07
Derivative:
PCR: 0.90
VIX: 11.39
Updates:
Bharti Airtel: The telecom major has announced changes in its leadership team in Airtel Business. Ajay Chitkara has resigned as CEO and will continue with the company until the third week of August.
Aditya Birla Capital: The Aditya Birla Group company has opened its qualified institutional placement (QIP) issue with the floor price set at Rs.175.99 per share. Sources told that the fund raising is likely to be at Rs.1,750 crore.
ICICI Prudential - The company received a show cause cum demand notice from the Directorate General of GST Intelligence for not paying tax of Rs.492.06 crore from July 2017 to July 2022. The company also deposited Rs.190 crore without accepting liability in this case.
HAL: Board to meet today to discuss equity share split and also, to recommend the final dividend for the FY22-23.
City Union Bank: The Board of the bank has approved raising capital up to Rs.500 crore through the QIP route.
Securities in ban: HINDCOPPER, RBL BANK.
Derivative View: On option front, monthly maximum Call OI is at 18800 then 18700 strike while Maximum Put OI is at 18700 then 18600 strike. Option data suggests an immediate trading range in between 18550 to 18800 zones.
Derivatives update
*Derivatives update*
Good morning !!
Derivatives update for Tuesday, 27th June 2023.
India VIX was up by 1.38% from 11.24 to 11.39 levels. Volatility was slightly on the rise but overall lower levels is keeping the market choppy in a smaller range.
Nifty *Put/Call Ratio* (OI) remained unchanged at 0.93 level.
On option front, monthly maximum Call OI is at 18800 then 18700 strike while maximum Put OI is at 18700 then 18600 strike. Call writing is seen at 18700 then 18950 strike while Put writing is seen at 18600 then 18650 strike.
*Option data suggests a shift in lower trading range in between 18500 to 19000 zones while an immediate trading range in between 18550 to 18800 zones.*
For weekly Bank Nifty, Maximum Put OI is at 43500 then 43000 strike and maximum Call OI is placed at 44000 then 45500 strike. We have seen minor Call writing at 44200 and Put writing is witnessed at 43600 strike.
Bank Nifty Put Call Ratio decreased from 0.88 to 0.84. Implied volatility fell from 11.69 to 12.26 levels.
Bank Nifty (CMP 43,641)
Data setup for Bank Nifty suggests a trading range in between *43250/43333 to 43800/44044 zones.*
Looking ahead at the FII’s derivatives activity, there was long built up in index futures, call & put selling in index options and short covering in stock futures.
In the cash market, FIIs were net sellers to the tune of 409 crores while DII’s were net buyers worth 250 crores. FIIs Index Long Short Ratio decreased to 53.26%.
Derivatives data and price set up suggests, Nifty has to hold above 18666 zones to witness an up move towards 18750 then 18888 zones while on the downside support exists at 18550 and 18500 zones.
Bank Nifty has to continue to hold above 43500 zones for a bounce towards 43800 then 44044 zones while a hold below the same could see some weakness towards 43333 and 43250 marks.
Thank you. Have a great trading day ahead..!!
News and Impact
News and Impact
· Expects market to open on a flat note on account of mixed bag opening in the Asian markets and marginally positive on US Future. Domestic sentiment remain robust on account of monsoon deficiency sharply decline this month from 47% to 28%, S&P Global ratings agency saying India will be the fastest-growing economy among Asia Pacific nations and stable inflation will be positive for the market sentiment. SGX Nifty is up 30 points or 0.1%. Overnight, US Tech Index major Nasdaq Composite slipped over 1% after the Fed Chair Jerome Powell reiterated last week that the US may need one or two more rate increases in 2023, to bring down inflation at 2%. Expects market would be rangebound as June F&O series expiry is scheduled on Thursday and market will be close tomorrow. While a good news for Indian markets, as per IMD the Monsoon deficiency has down to 28% from 47% in a week which means a buy on dip is around the corner. Nifty’s 200 DMA at 17929 mark. Yesterday, market ended flat but mid-cap and small cap Index soared 1% each. Nifty 500 stocks advance decline ratio was favorable at 2:1. Expects rally to continue on mid-cap and small cap stocks. Pharma stocks rally may continue and hope of good monsoon will be positive for tractors stocks.
· US Market – US stocks declined as investors assessed whether central banks will need to raise interest rates higher than expected, furthe r hampering a decelerating economy. The S&P 500 Index fell 0.5% and those on the tech-heavy Nasdaq 100 closed 1.4% lower. Dow Jones ended marginally lower
· Global market summary – US 2-Year and 10-Year Bond Yield marginally decline. US Vix gained 6% to above 14. Gold fell to 3-momth low.
· Asian Market – Asian shares fell for a seventh day Tuesday after US stocks slid amid concern that the Federal Reserve and its peers around the world will push economies into recession. The region’s equity gauge is now on its longest losing streak in a year. Japan Index slipped 1%. Taiwan, South Korea and Australia Index fell 0.5% each. However, Hong Index is up 0.50%
· European Market –European equities were steady after falling the most since mid-March last week, as investors mulled the risks from an attempted armed uprising in Russia and focused on the outlook for economic growth and monetary policy. Germany, France and UK Index bounced back into positive territory.
· Oil – Oil steadied as jitters from the short-lived armed uprising in Russia gave way to persistent concerns over the demand outlook. Brent Crude is trading flat at $74/bbl.
· Gold – Gold was steady at $1923/ounce near a three-month low on prospects for more interest-rate hikes from major central banks.
· Previous Day market Update –Equity benchmark Nifty Index managed to ended in positive territory after a fall of last two trading sessions amid buying interest on pharma, auto, realty and shipbuilding stocks. Weak global markets and ahead of June series F&O expiry kept the domestic bourses in a narrow range for most part of the day. Nifty was moving merely in a 70 points or 0.50% range between intra-day high of 18722 and low of 18646. However, there was stocks specific action in the markets and action shifted to mid-cap and small cap counters. Both Nifty small and mid-cap index gained 1% each. That’s why Nifty 500 stocks advance decline ratio was favorable at 2:1. Nifty advance 26 points to close at 18691 while Sensex marginally decline by 9 points to close at 62970. Among the global markets, both Asia and European equities dropped for a sixth day after falling the most since mid-March last week, as investors mulled the risks of geo-political tension in Russia, concern of outlook for economic growth and monetary policy tightening. US market on Friday declined up to 1% and US Future slipped nearly 0.5%. Hawkish signals from the US Federal Reserve and other major central banks revived concerns that higher borrowing costs threaten to tilt the economy into a recession. Yesterday, FIIs were net sellers Rs409cr while DIIs were net buyers Rs250cr
· Nifty Technical Levels – Nifty formed a Doji sort of candle on daily frame and respected its previous day’s lower zone. Now it has to hold above 18666 zones to witness an up move towards 18750 then 18888 zones while on the downside support exists at 18550 and 18500 zones.
· Bank Nifty Technical Levels – Bank Nifty formed a small Bearish candle on daily scale and trading in between 20DEMA and 50DEMA from past seven sessions. Momentum is missing on either side as selective Banking stock continue to underperformed and it closed in marginal gains near 43650 zones. Now it has to continue to hold above 43500 zones for a bounce towards 43800 then 44044 zones while a hold below the same could see some weakness towards 43333 and 43250 marks.
· Actionable BUY – IRCTC, Raymond, Cyient, M&M, Aurobindo Pharma, Zomatao
· Brokers Radar – Macquarie TGT on Paytm at 800, Nomura TGT on Hindustan Unilever at 3025, Chola Investment TGT by Citi at 1200. Cipla TGT by Citi at 1110.
· Events – National Company Law Tribunal (NCLT) hearing on Zee Entertainment, Cyient DLM IPO with price range between Rs250-265. Bajaj to lauch new bike at London, HAL board meeting for dividend and stock split. Idea Forge IPO subscribed nearly 4 time on Day1, Cricket world cup date will be announce today in India.
· Corporate Action - Supreme Petrochem Rs7, Bajaj Hindustan AGM, Bombay Oxygen Rs15, Sagarsoft Rs2,
· Global Data – Durable goods orders, New Home sales, Dallas Fed Service Activities (US)
· Market Summary – ICICI Pru Life gets GST demand notice for Rs 492 cr, Delhi Power Regulator Allows Distribution Companies To Charge Higher Tariff, Monsoon deficiency down to 28% from 47% in a week, Infosys Strikes $450-Million Deal With Denmark's Danske Bank, Aditya Birla Capital launches QIP, floor price set at ₹175.9 per share, Sapphire Foods India Holder Seeks Up to $51m in Placement
· ICICI Prudential Life – Company said it has received a GST demand notice of Rs 492.06 crore from tax authorities.
· Sapphire Foods India block deal – Major shares holder WWD Ruby is offering 3m shares of Sapphire Foods India Ltd. at Rs1,345 to 1,391. Price range represents 0% to 3.3% discount to last close on NSE - Avoid
· Aditya Birla Capital – Company announced that the company has launched a qualified institutional placement (QIP) issue at Rs175.99 a share worth Rs1250cr. The issue opened on
· 26 June, 2023.- Positive for fund raising
· HDFC – Company sells Mumbai land Marg (LBS Marg), Bhandup to Lodha for Rs 70 crore to recover dues from borrower. – Positive
· Power stocks Focus - The Delhi Electricity Regulatory Commission has allowed power distribution companies to levy higher tariffs—over and above the prevailing rates—to adjust the higher cost of power purchased, till next March. BSES Yamuna Power has been allowed to hike its tariff by an additional 9.42%, over and above the prevailing rate of 22.18%. – Expects positive for Tata Power
· Railtel Corporation – Company wins Rs294cr order from Tamilnadu for a period of five years– Positive
· IRCTC - Prime Minister Narendra Modi will flag off 5 new semi-high speed Vande Bharat Express trains on June 27. The new 8 coach Vande Bharat Express trains will be launched on 5 new routes; Mumbai-Goa, Indore-Bhopal, Patna-Ranchi, Jabalpur-Rani Kamlapati and Bengaluru-Hubballi-Dharwad. – Expects positive for IRCTC.
· Bharti Airtel - The Chief Executive Officer of Bharti Airtel's enterprise arm, Airtel Business, Ajay Chitkara, has resigned from the company, according to a filing. Following the resignation, Bharti Airtel has restructured leadership in the enterprise arm by dividing it into three segments – We are long term positive on Bharti Airtel
· Monsoon deficiency decline - The monsoon rains in the last couple of days have brought down the cumulative rainfall deficiency during June 1-25 to 28% of the benchmark long period average (LPA) from 47% reported a week ago. – Expects positive for auto stocks – M&M, Escorts.
· S&P Global Ratings on June 26 retained India's GDP growth forecast at 6% saying India will be the fastest-growing economy among Asia Pacific nations. – Positive for the market sentiment.
· Focus on Cyient – Company’s subsidiary (holding 92%) Cyient DLM Limited is going to hit primary market today. The public issue worth Rs592 crore will open for bidding till 30th June 2023. The company management has fixed Cyient DLM IPO price band at Rs250 to Rs265 a share.
· Rating agency S&P Raises Long-Term Issuer Credit Ratings on Union Bank of India, Bajaj Finance, Shriram Finance Ltd., and Hero FinCorp – positive.
· Cyient, Ltd - Company announced that it has fully integrated the Finland based acquired entity, Citec, into Cyient. As one of the final steps of the integration process - Positive
· Sun Pharma Advanced Research – Company’s parent reported “promising” results from the trial of a drug being tested for type-2 diabetes and obesity. The company said drug GL0034, discovered and developed by Sun Pharma, reduced body weight after a single dose in obese individuals without diabetes in its Phase-1 trial - Positive
· Zee Entertainment – SAT defers hearing on Subhash Chandra, Punit Goenka's appeal challenging Sebi's interim order till 27 June.
· REC - State-owned Maharatna company, has decided on extending financial assistance of Rs 3,045 crores to Bangalore Metro Rail Corporation, for the establishment and development of lines under the Phase-II metro project – Positive .
· Infosys - Infosys has won a $450mn digital transformation contract from Denmark's Danske Bank A/S for five years. The company will deploy Infosys Topaz, its recently launched Generative AI suite of services, to transform the IT operations of Danske Bank globally. – positive
· Rail Vikas Nigam Targets Orders Worth Up To Rs 1 Lakh Crore In Next One Year – Company has an ambitious plan of garnering orders totalling Rs 75,000-Rs 1,00,000 crore in the next one year, according to Rajesh Prasad, its director of operations. It takes on railway projects—such as installing new lines, railway electrification, metro projects, workshops, bridges—on a turnkey basis. – positive
· Tilaknagar Industries'- Flagship brand Mansion House Brandy became the world's fastest-growing brandy and the second-fastest growing alcoholic beverage brand, across categories, globally in the year 2022. Mansion House Brandy recorded an impressive year-on-year growth of 57.8 per cent in 2022 – Positive
· Zydus Life - Its wholly owned subsidiary, Zydus Animal Health and Investments Ltd., will acquire the stake for Rs 106 crore from Rising Sun Holdings Pvt.—an investment firm owned by Adar Poonawalla, chief executive officer of Serum Institute of India Pvt – Positive
· L&T Technology – Company and BSNL have signed an agreement to enable private 5G network deployments for global enterprises. - positive
· L&T – Company wins significant orders in range of Rs 1,000-2,500cr for Power Transmission Business - positive
· EPC India stock split - The board of office spaces provider EFC (India) has approved the sub-division of equity shares of the company from face value of Rs10 each to a face value of Rs2 rupees each
· Capacity Infra – Company secured an order worth Rs452cr from an undisclosed client for the construction of a residential and commercial tower in the National Capital Region – Positive
· Ajanta Pharma - Company's formulation facility at Dahej was inspected by US FDA from 19th June 2023 to 23rd June 2023. At the end of inspection, no Form 483 was issued to us. - positive
· Adani Power – Company has commenced operations at the 800 MW Unit 2 of Godda Thermal Power Plant. The plant will export entire power generated to Bangladesh as part of an existing 25-year contract with the country's Power Development Board
· MIC Electronics – Company receives LoA for order worth Rs. 5.13cr from Jabalpur Railway Division, installation, testing and commissioning of passenger amenities at 15 Stations of Jabalpur division – positive
· Bigbloc Construction - Company's JV inks agreement for Supply of Machinery & Technical Service. The Contract is executed for Supply of Machinery and Technical Service for Autoclave Aerated Concrete Blocks (AAC) Plant. – positive
· TCS – Company has entered into a strategic partnership with Standard Life International DAC, a wholly owned subsidiary of the Phoenix Group, to transform its operating model and enhance the customer experience for its policyholders in Europe, using the TCS Digital Platform for Life and Pensions, powered by TCS BaNCS™. – long term positive
· Vedavaag Systems – Company have been allotted additional 2000 Customer Service Points (CSPs) by State Bank of India. These Customer Service points will be rolled out during the financial year 2023-24. Vedavaag Systems Limited has been continuously ranking as one of top three best performers of SBI banking correspondents for the last four years – Avoid
· RattanIndia Power has refinanced its senior debt in a Rs 1,114 Crores transaction led by Kotak Mahindra Bank – positive
· Vishwaraj Sugar – Company pact with oil marketing companies IOC, BPCL, HPCL for supply of 12mn litters Ethanol – Positive
Market Indication
Market Indication:
Global: FLAT to POSITIVE
NIFTY: FLAT to POSITIVE
BANKNIFTY: FLAT to POSITIVE
BULK Deals: 63 Moons Technologies, Aavas Financiers, Parag Milk Foods etc.
Stocks In F&O Ban Period: Hindustan Copper, and RBL Bank
Results Today: Nil
SGX NIFTY: (Positive)
18728 +24.00 +0.13%
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