Who’s Meeting Whom
Gokaldas Exports: To meet Arihant Capital and Motilal Oswal AMC on June 2.
Dixon Technologies (India): To meet Burman Family Holdings on June 3, Eastspring Investments on June 4 and Taiyo Pacific on June 10.
Gokaldas Exports: To meet Arihant Capital and Motilal Oswal AMC on June 2.
Dixon Technologies (India): To meet Burman Family Holdings on June 3, Eastspring Investments on June 4 and Taiyo Pacific on June 10.
Money Market Update
The rupee ended at 72.90 against the U.S. Dollar on Tuesday as compared to Monday's closing of 72.62.
The rupee ended at 72.90 against the U.S. Dollar on Tuesday as compared to Monday's closing of 72.62.
Today's Infographic: *Quantitative Comparison of Top 4 Private Banks in India*
🏛️ HDFC Bank
🏛️ ICICI Bank
🏛️ Kotak Mahindra Bank
🏛️ Axis Bank
Also Read: *Comparison of Top 5 Private Banks in India*
https://finmedium.com/2021/05/quantitative-analysis-of-top-5-private-banks/?amp
🏛️ HDFC Bank
🏛️ ICICI Bank
🏛️ Kotak Mahindra Bank
🏛️ Axis Bank
Also Read: *Comparison of Top 5 Private Banks in India*
https://finmedium.com/2021/05/quantitative-analysis-of-top-5-private-banks/?amp
FinMedium
Quantitative Analysis of Top 5 Private Banks - FinMedium
Private Sector Banks are those banks that are controlled and managed by Private Entity, unlike Public Sector Banks which are controlled by Government. Both
Infosys and the French Tennis Federation today unveiled new technologies to help bridge the gap between remote fans and the game, transforming the Roland-Garros experience for the entire tennis ecosystem. – Positive
May Auto sales – Maruti sales at 46555 (down 71% MoM), M&M 41631 (down 31% MoM), Tata Motor 24552 (down 41% MoM), Escorts at 6423 (down 8% MoM) and Bajaj Auto at 240554 (down 38% MoM)
Ashok Leyland’s plants are still not fully - operational due to lockdowns in different states, company expects plants to be operational only for 5-10 days in June. – Any decline will be buying oportunity
Manufacturing PMI for the month of May 10-month low at 50.8 vs 55.5 previous month – Fall in PMI data is concern while expectation that the RBI may hold interest rate on Friday credit policy
J Kumar Infraprojects secures Rs1,307.88cr contract for Mumbai metro rail project – Positive
Sugar Production increased to 30.57m tons from 27.01m tons a year earlier (13% YoY) as more mills crushed cane following a bumper crop, according to the Indian Sugar Mills Association. – Positive for sugar stocks
Wockhardt confirmed that it is indeed in negotiations with multiple companies to explore the option of manufacturing their COVID-19 vaccines. – Positive
Coal India May sales at 55.1mn tons, up 37.6% (YoY) AND May Production at 42.1mn tons – Impressive sales growth … Positive
Jubilant Pharma to invest US$92 Mn to expand sterile injectable manufacturing capacity. This expansion will be spread over 50,000 sq feet at the Spokane facility in Washington and will be commercially operational by the end CY24
IMD says monsoon seen normal this year, monsoon rain seen 101% of average in 2021. - The Southwest Monsoon is likely to be normal in north and south India, above-normal in central India and below-normal in east and northeast India. – Positive for the market
IRCTC extends suspension of Ahmedabad-Mumbai Tejas Express till June 30 - IRCTC has extended the temporary suspension of operation of its Ahmedabad-Mumbai Tejas Express till the end of this month – Short term negative
JSW Energy - CARE has withdrawn the rating assigned to the Commercial Paper issue of JSW Energy with immediate effect, as the company has repaid the aforementioned Commercial paper issue and there is no amount outstanding under the issue as on date – Positive
Asian Granito India Limited to divest stake in Astron Paper and Board Mill – Positive
IRB InvIT receives completion certificate for Udaipur BOT Project – Positive
TTK Prestige settlement with Gujarat Factory workers – Positive
Glenmark Pharmaceuticals launches Rufinamide Tablets – Positive
AB Fashion to raise Rs300 by commercial paper issue
A2Z Infra Engineering one time settlement with ICICI Bank worth Rs4.25cr– Positive
May Auto sales – Maruti sales at 46555 (down 71% MoM) – inline with expectation 44004, M&M 41631 (down 31% MoM) – better than expectation 36118, Tata Motor 24552 (down 41% MoM) – better than expectation 13867, Escorts at 6423 (down 8% MoM) – better than expectation 5275 and Bajaj Auto at 240554 (down 38% MoM) lower than expectation 298197
KILPEST India have sold 13,19,000 COVID-19 RT-PCR Tests in the month of May, 2021 with an average price of Rs78 – Positive (BSE Listed)
Balrampur Chini announced poor topline growth but reported strong Ebitda margin. Company reported Q4 net profit Rs235.5cr (down 2% YoY), Ebitda Rs32.6 vs 13.9%, Ebitda Rs332cr (up 38% YoY) and Income Rs1019cr (down 41.5% YoY).
ITC – Topline ahead of expectation but margin below estimates. Company reported Q4 Net profit Rs3755cr (up 6.5% QoQ) – expectation Rs3440cr, Income Rs15404cr (up 9.1% QoQ) – expectation Rs11910cr, Operating profit rose 1.8% to Rs 4,871.12 crore – expectation Rs4380cr. Operating margin stood at 31.6% versus 33.87% - expectation 36.7%. Cigarette segment’s revenue rose 6.9% to Rs 6,508.43 crore. Revenue of the remaining FMCG business fell 1.5% to Rs 3,694.8 crore. Hotels unit revenue rose 21.5% to Rs 302.35 crore. Agri-business revenue rose 25.6% to Rs 3,383 crore.
May Auto sales – Maruti sales at 46555 (down 71% MoM), M&M 41631 (down 31% MoM), Tata Motor 24552 (down 41% MoM), Escorts at 6423 (down 8% MoM) and Bajaj Auto at 240554 (down 38% MoM)
Ashok Leyland’s plants are still not fully - operational due to lockdowns in different states, company expects plants to be operational only for 5-10 days in June. – Any decline will be buying oportunity
Manufacturing PMI for the month of May 10-month low at 50.8 vs 55.5 previous month – Fall in PMI data is concern while expectation that the RBI may hold interest rate on Friday credit policy
J Kumar Infraprojects secures Rs1,307.88cr contract for Mumbai metro rail project – Positive
Sugar Production increased to 30.57m tons from 27.01m tons a year earlier (13% YoY) as more mills crushed cane following a bumper crop, according to the Indian Sugar Mills Association. – Positive for sugar stocks
Wockhardt confirmed that it is indeed in negotiations with multiple companies to explore the option of manufacturing their COVID-19 vaccines. – Positive
Coal India May sales at 55.1mn tons, up 37.6% (YoY) AND May Production at 42.1mn tons – Impressive sales growth … Positive
Jubilant Pharma to invest US$92 Mn to expand sterile injectable manufacturing capacity. This expansion will be spread over 50,000 sq feet at the Spokane facility in Washington and will be commercially operational by the end CY24
IMD says monsoon seen normal this year, monsoon rain seen 101% of average in 2021. - The Southwest Monsoon is likely to be normal in north and south India, above-normal in central India and below-normal in east and northeast India. – Positive for the market
IRCTC extends suspension of Ahmedabad-Mumbai Tejas Express till June 30 - IRCTC has extended the temporary suspension of operation of its Ahmedabad-Mumbai Tejas Express till the end of this month – Short term negative
JSW Energy - CARE has withdrawn the rating assigned to the Commercial Paper issue of JSW Energy with immediate effect, as the company has repaid the aforementioned Commercial paper issue and there is no amount outstanding under the issue as on date – Positive
Asian Granito India Limited to divest stake in Astron Paper and Board Mill – Positive
IRB InvIT receives completion certificate for Udaipur BOT Project – Positive
TTK Prestige settlement with Gujarat Factory workers – Positive
Glenmark Pharmaceuticals launches Rufinamide Tablets – Positive
AB Fashion to raise Rs300 by commercial paper issue
A2Z Infra Engineering one time settlement with ICICI Bank worth Rs4.25cr– Positive
May Auto sales – Maruti sales at 46555 (down 71% MoM) – inline with expectation 44004, M&M 41631 (down 31% MoM) – better than expectation 36118, Tata Motor 24552 (down 41% MoM) – better than expectation 13867, Escorts at 6423 (down 8% MoM) – better than expectation 5275 and Bajaj Auto at 240554 (down 38% MoM) lower than expectation 298197
KILPEST India have sold 13,19,000 COVID-19 RT-PCR Tests in the month of May, 2021 with an average price of Rs78 – Positive (BSE Listed)
Balrampur Chini announced poor topline growth but reported strong Ebitda margin. Company reported Q4 net profit Rs235.5cr (down 2% YoY), Ebitda Rs32.6 vs 13.9%, Ebitda Rs332cr (up 38% YoY) and Income Rs1019cr (down 41.5% YoY).
ITC – Topline ahead of expectation but margin below estimates. Company reported Q4 Net profit Rs3755cr (up 6.5% QoQ) – expectation Rs3440cr, Income Rs15404cr (up 9.1% QoQ) – expectation Rs11910cr, Operating profit rose 1.8% to Rs 4,871.12 crore – expectation Rs4380cr. Operating margin stood at 31.6% versus 33.87% - expectation 36.7%. Cigarette segment’s revenue rose 6.9% to Rs 6,508.43 crore. Revenue of the remaining FMCG business fell 1.5% to Rs 3,694.8 crore. Hotels unit revenue rose 21.5% to Rs 302.35 crore. Agri-business revenue rose 25.6% to Rs 3,383 crore.
News and Impact
Expects market to open on a flat note on account of global cues. U.S. stocks inched lower as investors assessed the impact of another economic report on Federal Reserve monetary policy. Dow Jones closed slightly higher (declined 1% from intra-day high), as optimism about economic recovery was undermined by doubts about inflation after a reading on U.S. manufacturing activity underlined labor shortages and supply bottlenecks. However, both S&P 500 and Nasdaq Composite slipped 0.1% each while US small cap Index Russell 2000 Index gained over 1%. SGX Nifty is flat to negative while Dow Future gained 0.1%
European shares ended higher on Tuesday, amid upbeat final PMI readings from the eurozone and the UK, with trading in London resuming following a long weekend. Germany, FTSE and France Index gained 1% each.
Asian stocks made a steady start Wednesday after U.S. equities inched lower as the tussle between economic optimism and inflation concern continues to play out in markets. Treasury yields edged up. Japanese stocks fluctuated while Australia and South Korea posted modest gains.
Oil prices hit multiyear highs above $70 a barrel after OPEC and its allies forecast higher demand and boosted output -- punctuating a global economic reawakening that has raised the prices of a broad range of commodities.
Gold steadied around $1,900 an ounce as investors continued to weigh optimism over the economic recovery against inflation concerns ahead of a key jobs report on Friday.
Expects range-bound market but stock specific action may continue. Intra-day traders buy on decline strategy in the market. Mid and small cap stocks expected to be momentum today. Positive sentiment in the market on account of better than expected Quarterly GDP Number, fall in pandemic cases and hope of good monsoon. FIIs net sellers Rs450cr while DIIs net buyers Rs230cr
Actionable – BUY EPL, BSE Ltd, Coal India, ONGC, Oil India
Brokers Radar – Nomura TGT on Dilip Buildcon at 800, ITC TGT by Morgan Stanley at 251, Goldman Sachs TGT on ITC at 242, JP Morgan TGT on ITC at 225, , Gujarat Gas TGT by Jefferies at 620, Macquaire TGT on Gujarat Gas at 500 and CLSA TGT on Gujarat Gas at 570
Events Today – 3-day RBI - MPC policy meeting from today and RBI to announce credit policy on Friday, Cabinet meeting at 11am, Indian Overseas Bank board meeting for 4100cr fund from Govt.
Results - Muthoot Finance, Panacea Biotec, PVR and Motherson Sumi
Market summary - BSE signs pact with ESC to encourage listing of startups, Infosys and Roland-Garros Bridge the Experience Gap for the Global Tennis Ecosystem with AI, Immersive 3D and Digital Platforms, Wockhardt negotiating manufacturing option for covid vaccine. Sugar Output in India Jumps 13% Y/y From October to May, ITC announced lower than expected Ebitda margin while Gujarat Gas reported impressive ebitda margin.
Gujarat Gas Ltd to acquire CGD business from GSPL for Amritsar and Bhatinda or an aggregate cash consideration of Rs. 163.31cr – Positive
Fineotex Chemical: Approved raising up to Rs 200 crore by way of issuance of securities, through private placement, preferential issue, QIP – Positive
NMDC: Total production in May up 21.83% to 2.79 MT from 2.29 MT year-on-year. Total sales up 29.41% to 3.30 MT from 2.55 MT YoY – Positive
Indiabulls Housing : Conversion price of 2026 USD Notes changed to Rs 230.14 per share.- Positive
Leading stock exchange BSE on Tuesday said it has joined hands with Electronics and Computer Software Export Promotion Council (ESC) to create awareness about the benefits of listing among small businesses and startups. – Positive
Eicher Motor May sales at 27294 unit (up 27% YoY) – expectation 26649 – better than expectation
Hero Motocorp May sale at 183044 unit – expectation 186143 unit – inline
Oil India transfers Numaligarh Refinery shares to Assam Government worth Rs497cr – Positive
Expects market to open on a flat note on account of global cues. U.S. stocks inched lower as investors assessed the impact of another economic report on Federal Reserve monetary policy. Dow Jones closed slightly higher (declined 1% from intra-day high), as optimism about economic recovery was undermined by doubts about inflation after a reading on U.S. manufacturing activity underlined labor shortages and supply bottlenecks. However, both S&P 500 and Nasdaq Composite slipped 0.1% each while US small cap Index Russell 2000 Index gained over 1%. SGX Nifty is flat to negative while Dow Future gained 0.1%
European shares ended higher on Tuesday, amid upbeat final PMI readings from the eurozone and the UK, with trading in London resuming following a long weekend. Germany, FTSE and France Index gained 1% each.
Asian stocks made a steady start Wednesday after U.S. equities inched lower as the tussle between economic optimism and inflation concern continues to play out in markets. Treasury yields edged up. Japanese stocks fluctuated while Australia and South Korea posted modest gains.
Oil prices hit multiyear highs above $70 a barrel after OPEC and its allies forecast higher demand and boosted output -- punctuating a global economic reawakening that has raised the prices of a broad range of commodities.
Gold steadied around $1,900 an ounce as investors continued to weigh optimism over the economic recovery against inflation concerns ahead of a key jobs report on Friday.
Expects range-bound market but stock specific action may continue. Intra-day traders buy on decline strategy in the market. Mid and small cap stocks expected to be momentum today. Positive sentiment in the market on account of better than expected Quarterly GDP Number, fall in pandemic cases and hope of good monsoon. FIIs net sellers Rs450cr while DIIs net buyers Rs230cr
Actionable – BUY EPL, BSE Ltd, Coal India, ONGC, Oil India
Brokers Radar – Nomura TGT on Dilip Buildcon at 800, ITC TGT by Morgan Stanley at 251, Goldman Sachs TGT on ITC at 242, JP Morgan TGT on ITC at 225, , Gujarat Gas TGT by Jefferies at 620, Macquaire TGT on Gujarat Gas at 500 and CLSA TGT on Gujarat Gas at 570
Events Today – 3-day RBI - MPC policy meeting from today and RBI to announce credit policy on Friday, Cabinet meeting at 11am, Indian Overseas Bank board meeting for 4100cr fund from Govt.
Results - Muthoot Finance, Panacea Biotec, PVR and Motherson Sumi
Market summary - BSE signs pact with ESC to encourage listing of startups, Infosys and Roland-Garros Bridge the Experience Gap for the Global Tennis Ecosystem with AI, Immersive 3D and Digital Platforms, Wockhardt negotiating manufacturing option for covid vaccine. Sugar Output in India Jumps 13% Y/y From October to May, ITC announced lower than expected Ebitda margin while Gujarat Gas reported impressive ebitda margin.
Gujarat Gas Ltd to acquire CGD business from GSPL for Amritsar and Bhatinda or an aggregate cash consideration of Rs. 163.31cr – Positive
Fineotex Chemical: Approved raising up to Rs 200 crore by way of issuance of securities, through private placement, preferential issue, QIP – Positive
NMDC: Total production in May up 21.83% to 2.79 MT from 2.29 MT year-on-year. Total sales up 29.41% to 3.30 MT from 2.55 MT YoY – Positive
Indiabulls Housing : Conversion price of 2026 USD Notes changed to Rs 230.14 per share.- Positive
Leading stock exchange BSE on Tuesday said it has joined hands with Electronics and Computer Software Export Promotion Council (ESC) to create awareness about the benefits of listing among small businesses and startups. – Positive
Eicher Motor May sales at 27294 unit (up 27% YoY) – expectation 26649 – better than expectation
Hero Motocorp May sale at 183044 unit – expectation 186143 unit – inline
Oil India transfers Numaligarh Refinery shares to Assam Government worth Rs497cr – Positive
Pre-Market Derivatives and Technical Set-up - 2 June 2021
◆ Nifty index opened positive and made a new life time high of 15660, but it was unable to hold higher zones and drifted towards 15528 levels. It traded in broader range of 130 points but finally closed the day on a flattish note. Technically, it formed a Bearish candle on daily scale as it closed lower than its opening zones but it continued its formation of higher highs of the last eight sessions
◆ Now, it has to hold above 15500 zones to witness an up move towards fresh life time high of 15750 zones while on the downside support exists at 15431 and 15300 zones
◆ India VIX moved up by 2.95% from 16.88 to 17.38 levels. India VIX is near to its levels of last 65 weeks since February 2020 and falling VIX could extend the bullish market momentum towards new high territory
◆ On option front, Maximum Put OI is at 15000 followed by 14500 strike while maximum Call OI is at 16000 followed by 15800 strike. Minor Call writing is seen at 16100 then 15700 strike while Put writing is seen at 15500 then 15000 strike. Option data suggests a trading range in between 15000 to 16000 zones while an immediate trading range in between 15300 to 15800 zones
◆ Bank Nifty opened positive but failed to hold above 35700 zones and remained negative to range bound for the day. It failed to continue its positive streak of last four sessions and closed the day negative with the loss of around 190 points. It formed a Bearish candle on daily scale but has been forming higher highs from the last four sessions
◆ Now it has to hold above 35250 zones to witness an up move towards 35750 and 36000 zones while on the downside support exists at 35000 and 34750 levels
◆ Bullish setup in Adanient, Adaniports, ONGC, Bajfinance, Lichsgfin, Apollohosp, SBIN, Mindtree, Coforge, Marico, HDFC, Hindunilvr and Concor
◆ Bearish setup in Suntv, Auropharma, L&TFH, Bankbaroda, M&MFin, Ashokley and Ramco Cement.
◆ Nifty index opened positive and made a new life time high of 15660, but it was unable to hold higher zones and drifted towards 15528 levels. It traded in broader range of 130 points but finally closed the day on a flattish note. Technically, it formed a Bearish candle on daily scale as it closed lower than its opening zones but it continued its formation of higher highs of the last eight sessions
◆ Now, it has to hold above 15500 zones to witness an up move towards fresh life time high of 15750 zones while on the downside support exists at 15431 and 15300 zones
◆ India VIX moved up by 2.95% from 16.88 to 17.38 levels. India VIX is near to its levels of last 65 weeks since February 2020 and falling VIX could extend the bullish market momentum towards new high territory
◆ On option front, Maximum Put OI is at 15000 followed by 14500 strike while maximum Call OI is at 16000 followed by 15800 strike. Minor Call writing is seen at 16100 then 15700 strike while Put writing is seen at 15500 then 15000 strike. Option data suggests a trading range in between 15000 to 16000 zones while an immediate trading range in between 15300 to 15800 zones
◆ Bank Nifty opened positive but failed to hold above 35700 zones and remained negative to range bound for the day. It failed to continue its positive streak of last four sessions and closed the day negative with the loss of around 190 points. It formed a Bearish candle on daily scale but has been forming higher highs from the last four sessions
◆ Now it has to hold above 35250 zones to witness an up move towards 35750 and 36000 zones while on the downside support exists at 35000 and 34750 levels
◆ Bullish setup in Adanient, Adaniports, ONGC, Bajfinance, Lichsgfin, Apollohosp, SBIN, Mindtree, Coforge, Marico, HDFC, Hindunilvr and Concor
◆ Bearish setup in Suntv, Auropharma, L&TFH, Bankbaroda, M&MFin, Ashokley and Ramco Cement.
Global rating firm Moody’s today said it expects economic disruptions to be limited during the April-June quarter on account of the second wave of the pandemic. Accordingly, it has lowered its forecast for the current fiscal by nearly 6% points. These remarks have come within 24 hours from Govt making GDP for the Jan-March quarter and 12 months for the Fiscal Year 2020-21 (FY 21), along with expressing cautious optimism for the Fiscal Year 2021-22 (FY 22).
-Business Line
Union Minister Jitendra Singh said family pension rules have been simplified in view of the COVID-19 pandemic. Giving a brief about the important reforms undertaken by the Dept of Pension and Pensioners Welfare (DoP&PW), he said, a provision was recently made for the provisional family pension to be sanctioned immediately on receipt of claim for family pension and death certificate from the eligible family member without waiting for other formalities or procedural requirements to be completed. This provision is applicable in case of death happening during the pandemic, either because of Covid or non-Covid cause, said Singh.
-Business Standard
The SEBI today named several employees of the Infosys in a case of insider trading in the Co’s stock last year. The regulator said that these staff had placed orders on behalf of Capital One. “Thus, Capital One and Tesora had traded in the scrip of Infosys in F&O segment while in possession of unpublished price sensitive information,” SEBI said. SEBI has banned Pranshu Bhutra, Amit Bhutra, Bharath C Jain, Capital One Partner, Tesora Capital and Venkata Subramaniam from accessing the securities market. Further, it has ordered bank accounts of Capital One Partners, Amit Bhutra and Bharath Jain to be impounded.
-Economic Times
SBI’s share price on June 1, 2021, reached a fresh 52-week high of Rs 434.45 apeice, even as benchmark indices ended flat. At the end of the day’s trade, the lender closed 1.97% higher at 432.60 apiece.
-Financial Express
USD /INR 72.90
Sensex 51934.8 (-2.56)
BSE Bankex 40120.9 (-223.78)
Nifty 50 15574.8 (-7.95)
Nifty Bank 35337.2 (-189.45)
-Business Line
Union Minister Jitendra Singh said family pension rules have been simplified in view of the COVID-19 pandemic. Giving a brief about the important reforms undertaken by the Dept of Pension and Pensioners Welfare (DoP&PW), he said, a provision was recently made for the provisional family pension to be sanctioned immediately on receipt of claim for family pension and death certificate from the eligible family member without waiting for other formalities or procedural requirements to be completed. This provision is applicable in case of death happening during the pandemic, either because of Covid or non-Covid cause, said Singh.
-Business Standard
The SEBI today named several employees of the Infosys in a case of insider trading in the Co’s stock last year. The regulator said that these staff had placed orders on behalf of Capital One. “Thus, Capital One and Tesora had traded in the scrip of Infosys in F&O segment while in possession of unpublished price sensitive information,” SEBI said. SEBI has banned Pranshu Bhutra, Amit Bhutra, Bharath C Jain, Capital One Partner, Tesora Capital and Venkata Subramaniam from accessing the securities market. Further, it has ordered bank accounts of Capital One Partners, Amit Bhutra and Bharath Jain to be impounded.
-Economic Times
SBI’s share price on June 1, 2021, reached a fresh 52-week high of Rs 434.45 apeice, even as benchmark indices ended flat. At the end of the day’s trade, the lender closed 1.97% higher at 432.60 apiece.
-Financial Express
USD /INR 72.90
Sensex 51934.8 (-2.56)
BSE Bankex 40120.9 (-223.78)
Nifty 50 15574.8 (-7.95)
Nifty Bank 35337.2 (-189.45)