Economic Times

 

Business Standard

Ø  RBI to strengthen risk-based supervision of banks, NBFCs

Ø  India Inc's foreign borrowings jump 24 percent to $9.23 billion in March

Ø  462 infrastructure projects show cost overruns worth Rs 4.36 lakh crore

Ø  Engineering goods exports jump sharply in April

Ø  Blackstone betting big on India-its most profitable market

Ø  Lenders brace for deterioration in asset quality metrics

 

Ø  Exports up 197% YoY in April; trade deficit widens to $15.24 billion

Ø  Govt extends income tax, GST compliance timelines to ease Covid-19 pain

Ø  FPIs turn net sellers after 6 months; withdraw Rs 9,659 crore in April

Ø  Franklin Templeton unitholders to get Rs 2,489 cr in next tranche

Ø  Tech Mahindra, Reagene to file patent for coronavirus attacking molecule

Business Line

 

Mint

Ø  Budget carrier flydubai posts $194 mn loss due to pandemic

Ø  Covid wave to shrink cotton consumption by 8 per cent

Ø  Telecom infra operation, maintenance work running smoothly amid curfews: TAIPA

Ø  GST mop-up hits record ₹1.41-lakh crore in April

Ø  Singareni Collieries shines in April despite Covid disruptions

Ø  Ola to take e-scooter to international markets this fiscal

 

Ø  Biden’s $4.5 trillion spending plan faces deficit test

Ø  Tesla’s German plant delayed until next year: Report

Ø  Warren Buffett defends Berkshire’s moves over pandemic year

Ø  Consumer appliances firms scale back production as covid dents demand

Ø  India's fuel sales drop in April on Covid wave

Ø  Covid-19:Railways deploys nearly 4,000 isolation coaches with almost 64,000 beds

Financial Express

 

Business World

Ø  Govt appoints Rabi Sankar as next RBI deputy governor

Ø  Govt waives late fee for delayed filing of March, April GSTR-3B, tax payment

 

Ø  FHRAI Requests Govt For Special Credit Guarantee Window Under ECLGS For Hospitality Sector. https://t.me/marketswizard

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GM jsk stock in news Trend,supremepetro,tatachem,lnttech,guj alkali,sbilife,vbl,adaniport,biocon,tech mah,natco. Negative stocks eicher,ashokley,escorts,yesbk,indusindbk,mah holiday,tatamot,indianhotel. Nifty range 14450-14750.

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World Markets

Dow - 186
Nasdaq - 120
Dax - 18
Nikkei - 241
Hangseng - 174
Sgxnifty - 102 (14558)
Brent Crude 67.03
Dow Fut + 130
Dollar Index 91.18


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Pledge Share Details

JSW Steel: Promoters (Sahyog Holdings, JSW Holdings and JSW Techno Projects Management) revoked pledge of 92.10 lakh shares between April 26 and 28.

Max Financial Services: Promoter Max Ventures Investment Holdings created a pledge of 3.55 lakh shares between April 26-27.


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Stocks To Watch

Hero MotoCorp: To extend the shutdown at its manufacturing facilities across India, global parts Center & R&D facility in Jaipur till May 9. The plant operations to resume on May 10.

Mahindra & Mahindra: To increase its stake in Meru Travel Solutions to 100%. M&M will acquire 44.14% shares from private equity investors, True North, Bennett Coleman & Co and former Meru cabs CEO, Nilesh Sangoi, for Rs 76.03 crore and 12.66% shares from Neeraj Gupta and Farhat Gupta for Rs 21.63 crore. With this, M&M will enhance its current shareholding in Meru from 43.20% to 100%. Further, Pravin shah, former President at M&M’s automotive division to take over as CEO of Meru and its subsidiaries from May 1.

HDFC Bank: Has announced a new business structure under Sashidhar Jagdishan as MD & CEO. The bank will reorganise itself into three areas: business verticals, delivery channels and technology/digital. It will increase focus on MSME business and will continue to invest in all its delivery channels.

DCB Bank: Has acquired equity stake in India INX and India ICC. The bank has invested Rs 5 crore each in the two companies. India INX and India ICC are promoted by BSE and are the leading exchange and clearing corporation in the GIFT City IFSC at Gandhinagar.

Bank of India: Board has approved raising up to Rs 4,800 crore capital. The bank will raise Rs 3,000 crore by issuance of fresh equity capital in the form of FPO/QIP/Basel Ill Compliant Additional Tier-1 bonds (domestic and foreign currency) and Rs 1,800 crore via Basel III compliant Tier-2 bonds.

NLC India: Board has approved the proposal for issuance of bonds in the nature of debentures of up to Rs 5,000 crore in tranches.

MOIL: Has cut manganese ore prices by about 5% across all grades with effect from May 1.

Rashtriya Chemicals and Fertilizers: Has appointed Crawford Bayley along with its International consortium partner Squire Patton Boggs Singapore LLP as legal advisers for disinvestment of 10% paid-up equity capital, out of the Government of India’s shareholding, through offer for sale.

Coal India: Production in April up 3.7% year-on-year to 41.9 MT while Offtake rose 38.4% year-on-year to 54.1 MT.

Titan Company: Has incorporated TCL North America Inc. as its wholly-owned subsidiary in the State of Delaware, the USA for $300,000. TCL North America Inc. will carry on the business of jewellery retailing

Ajanta Pharma, Ipca Laboratories, Alembic Pharmaceuticals and Glenmark Pharmaceuticals have subscribed to partnership interest in ABCD Technologies (to be renamed as IndoHealth Services LLP). Ajanta Pharma and Ipca Laboratories will invest Rs 25 crore each for a 4.03% share in ABCD Technologies and Glenmark Pharmaceuticals and Alembic Pharmaceuticals will invest Rs 40 crore each for a 6.45% share.

Parag Milk Foods: Board has approved the opening of the issue of Foreign Currency Convertible Bonds, aggregating up to $11 million, on April 30. The conversion price of the FCCBs is Rs 145 per share and the floor price is Rs 111.27.

Nifty Earnings: SBI Life Insurance Company, Kotak Mahindra Bank

Non-Nifty Earnings: Godrej Properties, L&T Technology Services, IDBI Bank, Tata Chemicals, Apollo Tricoat Tubes, Home First Finance Company India, Mahindra Holidays & Resorts India, Supreme Industries, Varun Beverages. https://t.me/marketswizard

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Trading Tweaks

Price Band Revised From 10% To 5%: Future Enterprises, Morepen Laboratories

Price Band Revised From 20% To 10%: Jay Bharat Maruti

Record Date Buyback: Quick Heal Technologies

Ex-Date Dividend: Stovec Industries

Move Into Short-Term ASM Framework: Centrum Capital, Avadh Sugar & Energy, RattanIndia Enterprises

Move Out Of Short-Term ASM Framework: Emami Paper Mills, Dishman Carbogen Amcis

Move Into ASM Framework: Future Enterprises, Supreme Petrochem, Jet Airways (India)

Move Out Of ASM Framework: Greenpanel Industries, Sequent Scientific, Fineotex Chemical, NIIT, Jain Irrigation Systems, Tejas Networks, Panama Petrochem, Poly Medicure, HBL Power Systems, Orchid Pharma. https://t.me/marketswizard

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Money Market Update

The rupee ended at 74.06 against the U.S. Dollar on Friday as compared to Thursday's closing of 74.03.

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Stocks Ban In F&O:

Sun TV

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*SGX Nifty -90 pts (14570) from last trade 14660 ,*


Nikkei clsd ,
Hangseng clsd ,
Now @6.47am .


Dow +185.51 pts ,Nsdq -119.87 pts, S&P

-30.30 pts, Bovespa -1171 pts , Ftse +8 pts , Dax -18 pts , Cac -33 pts , Crude @ $63.73 brl (+0.15), Brent @ $66.95 brl (+0.29) , Gold @ 1768.00 (+0.30), Silver @ $25.905 (+0.03), Euro @ $1.2021, JPY @ $109.38, INR @ 74.075




*Today's Corporate Action*

*3rd May Ex Date*



SANGHVIFOR

Resolution Plan -Suspension

STOVACQ

Dividend - Rs. - 22.0000





*Today's Key Results/Board Meetings*

*3-May-21*



APOLLOTRI

Audited Results

CITADEL

Audited Results

COUNCODOS

General

DRA

General

GODREJPROP

Audited Results

HOMEFIRST

Audited Results

ICL

Voluntary Delisting of Shares

IDBI

Audited Results

JK AGRI

Dividend;Audited Results

JUPITERIN

Audited Results;Quarterly Results

KOTAKBANK

Dividend;Audited Results

LLFICL

Issue Of Warrants;General

LTTS

Final Dividend;Audited Results

MHRIL

Audited Results

NAVIGANT

Audited Results

NCLIND

Interim Dividend

NUTRICIRCLE

Audited Results;General

PANKAJPO

Audited Results

PILITA

Audited Results

RACLGEAR

General

REGENCY

General

SBILIFE

Audited Results

SGRL

Final Dividend;Audited Results

SUPRAP

General

SUPREMEIND

Final Dividend;Audited Results

TATACHEM

Final Dividend;Audited Results

TBZ

Final Dividend;Audited Results;General

TELESYS

General

UDAYJEW

General

UNIVARTS

A.G.M.;Audited Results;General

VARIMAN

General

VBL

Quarterly Results




*Stock under F&O ban on NSE*

*3-May-21*



1SUNTV


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*Steel Authority of India Limited (SAIL)*

SAIL has capacity of 18m tonnes.
The ramping up of procedure has started.
It will go upto 21m tonnes by March 2021.

SAIL has captive iron ore mines, power, coal, and cooking coal.
Steel prices have gone up but cooking coal prices, in the international market, has not really gone up, benefitting steel making companies.

SAIL has huge iron ore reserves, which cannot be measured being of unlimited quantity, but we assume 1Billion tonne, which is only 2% of the entire reserve.

Recently, government allowed to sell iron ore fines. And SAIL has estimated iron ore fines at 70 millions tonnes.
And, the Present market value of these iron ore fines is 35,000 Crores, which is of no use to SAIL.
The per annum profit from sale of these iron ore fines is likely to be Rs 2,000 crore per annum.

Recently, government of India, vide it's order has allowed SAIL, to sell 25% of current production in the open market, which is likely to be 5m tonne per annum.

Looking at the current market price, the value of iron ore of 5m tonnes, should be approximately 6,000 crores.
And EBITA from this should be 5,000 crores.

SAIL is currently making Rs 23000 per tonne on steel, which will translate into
16*23000 = Rs 36800Crore Ebitda for 21-22.
As per the recent Steel Mint report SAIL has started selling iron ore from Jharkhand mines.

If the current trend continues, SAIL is likely  to post EBITDA of 37 k Crores in21-22
SAIL have debt of 35,000 crore as on march 2021 and 15000 cr by march 22.

The cost of borrowing of SAIL has come down drastically due to easy money in the market. Recently, SAIL has raised money at 3.5% - 5%, bringing down finance cost substantially.

Assuming 5x EBITDA in FY 21-22, SAIL should make ebitda of 36800 crore and 5000 crore from iron ore.

The present valuation should be:
           EV   209000crore
Less debt  (15000) crore
_________________________________
Hence, Equity valuation should  be = 194000 crore

SAIL is available at 2 times PE multiple of 21-22 earning.

Due to strong demand of Steel and Iron Ore globally, SAIL should give a multibagger return from the current price.
Sail eps for the year21=22 approximately can be45


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*MOIL*
prices of all grades of Ferro, SMGR grades, Fines and Chemical grades have been reduced by about 5% MoM w.e.f 01'May

*INOX LEISURE*
Partners with Food Delivery Apps to deliver its food & beverages products to customers’ home as the pandemic continues to impact cinema operations


*SBI *
Reduces Home Loan Interest rates
6.70% for loans up to Rs 30 lacs
6.95% for loans above Rs 30 lacs to Rs. 75 lacs
7.05% for Home Loans above Rs 75 lacs

Women borrowers to get a special concession of 5 bps



*DR REDDYS*
1st Consignment Of 150,000 Doses Of The Sputnik V Vaccine Has Landed In Hyderabad

Subsequent Consignments Will Arrive In The Next Few Weeks

Alert DRL is the custodian for the Sputnik V brand in India


*TECH MAHINDRA*
In the process of filing a patent, along with Reagene Biosciences, for a drug molecule that can potentially attack coronavirus

Alert Markers Lab is the R&D Arm of Tech Mahindra


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HDFC Bank's CEO Sashi Jagdishan announces top management rejig -

HDFC Bank has reorganised itself into three clear areas of business verticals, delivery channels and technology / digital, under \"Project Future – Ready" to power its next wave of growth, the bank said in a statement

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*Global-Market Insight*
-Asian markets are set to open muted
-Strong economic data posing an inflationary challenge
-The US markets futures showing green
-Japan and China are shut for holidays
-Crude oil slips as India demand slowing
-The US Commerce Department said the economy grew by 6.4% in Q1
-Vaccinations are administered rapidly and COVID-19 cases continue to fall
-The US household incomes surged 21% in April, driven largely by the $1,400 paycheck
-The market still has some key concerns, including how government spending will impact taxes and inflation
-Analysts expect yields to rise again

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*STOCKS TO WATCH:* RELIANCE, SUPREME PETRO, SHRIRAM CITY, MARUTI, AJANTA PHARMA, JSW STEEL, M&M, EICHER, YES BANK, INDUSIND BANK, ESCORTS, TATA MOTORS, ASHOK LEYLAND, HERO MOTO, AMARA RAJA

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*JSW Steel:* Co Had Acquired From Welspun Corp Limited On A Slump Sale Basis, The Business Of Manufacturing Of High-Grade Steel Plates And Coils Ii 2.25b Rupees To Be Paid To Welspun As On April 30, 2021


*Eicher Motors:* April Motorcycle Total Sales 53,298 Units Vs 66,058 Units (MoM); Est 54,700 Units

*Ashok Leyland:* April Total Sales 8340 Units Vs 17,231 Units (MoM) Est: 10,100 Units


*Hero Motocorp:* April Total Sales 3,72,000 Units Vs 5,24,608 Units (MoM) Est: 4,48,000

*Amara Raja Batteries:* Co Has Received Closure Orders Dated April 30, 2021, From The Andhra Pradesh Pollution Control Board For The Co Plants Situated At Karakambadi, Tirupati And Nunegundlapalli Village, Chittoor District, Andhra Pradesh


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*🔒 Updates *

*Haryana*
7-Day Lockdown Declared Starting Tomorrow

*Odisha*
Announces A 14-day Lockdown From May-5 To May-19


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*Results on May 3*
Kotak Mahindra Bank, SBI Life Insurance Company, Tata Chemicals, Godrej Properties, L&T Technology Services, Home First Finance Company India, IDBI Bank, Apollo Tricoat Tubes, Citadel Realty and Developers, JK Agri Genetics, Jupiter Infomedia, Mahindra Holidays & Resorts, Navigant Corporate Advisors, Nutricircle, Pankaj Polymers, Pil Italica Lifestyle, Shree Ganesh Remedies, Supreme Industries, Tribhovandas Bhimji Zaveri, Universal Arts and Varun Beverages will release quarterly earnings on May 3.

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*MOIL*
prices of all grades of Ferro, SMGR grades, Fines and Chemical grades have been reduced by about 5% MoM w.e.f 01'May

*INOX LEISURE*
Partners with Food Delivery Apps to deliver its food & beverages products to customers’ home as the pandemic continues to impact cinema operations


*SBI *
Reduces Home Loan Interest rates
6.70% for loans up to Rs 30 lacs
6.95% for loans above Rs 30 lacs to Rs. 75 lacs
7.05% for Home Loans above Rs 75 lacs

Women borrowers to get a special concession of 5 bps



*DR REDDYS*
1st Consignment Of 150,000 Doses Of The Sputnik V Vaccine Has Landed In Hyderabad

Subsequent Consignments Will Arrive In The Next Few Weeks

Alert DRL is the custodian for the Sputnik V brand in India


*TECH MAHINDRA*
In the process of filing a patent, along with Reagene Biosciences, for a drug molecule that can potentially attack coronavirus

Alert Markers Lab is the R&D Arm of Tech Mahindra


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https://youtu.be/jNCqWSMH0-8

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