*Life Insurance*
*Strong performance for May month*
*Sector: Life Insurance*
*View: Positive*
The life insurance industry’s May 2021 provisional numbers came in strong for most listed private players on annualised premium equivalent (APE) basis and new business premium (NBP) basis. For private companies, APE (Calculated) for May 2021 grew by 6% (better than industry performance which saw a decline of ~27.7% in May 2021). Growth performance is indicative of continued strong growth traction, but it is also partly attributable to a lower base effect, with May 2020 impacted by the lockdown. On NBP basis, the private industry saw a healthy increase of 14.2% y-o-y for May (better than industry decline of 5.5% in May 2021).
*Sector*
*Outlook Insurance continues to be attractive:* We believe most bank-backed insurance companies have resilience. Players such as BALIC and Max Life Insurance have strong and stable bancassurance partners to add to their own distribution channel. Among listed major players, Bajaj Allianz and Max Life have been strong performers, but HDFC Life posted strongest performance, aided by a favourable business mix (lower ULIP dependency), improving prices, and resumption of bancassurance channels business.
*Our Call*
*Strong performance continues, structural growth drivers well in place:* The insurance industry has bounced back successfully from shadows of the first wave of the pandemic. We stay positive on the insurance sector, particularly for players with a favourable business mix (protection and retiral product segments) and strong distribution network (proprietary, bancassurance etc). Structural demand for insurance across mortality, morbidity, and longevity coverage remains high.
*Investment picks:* Our preferred picks are HDFC Life, ICICI Prudential, Max Financial (holding company of Max Life Insurance), and Bajaj Finserv (holding company of Bajaj Allianz Life). We believe these companies have a strong balance sheet, are well capitalised (for the long term), have healthy operating metrics, and are well placed to ride over challenges.
*Key Risks* Delayed recovery in economic growth and resurgence of COVID-19 cases, among others, may impact premium growth as well as investment income for insurance companies.
*Strong performance for May month*
*Sector: Life Insurance*
*View: Positive*
The life insurance industry’s May 2021 provisional numbers came in strong for most listed private players on annualised premium equivalent (APE) basis and new business premium (NBP) basis. For private companies, APE (Calculated) for May 2021 grew by 6% (better than industry performance which saw a decline of ~27.7% in May 2021). Growth performance is indicative of continued strong growth traction, but it is also partly attributable to a lower base effect, with May 2020 impacted by the lockdown. On NBP basis, the private industry saw a healthy increase of 14.2% y-o-y for May (better than industry decline of 5.5% in May 2021).
*Sector*
*Outlook Insurance continues to be attractive:* We believe most bank-backed insurance companies have resilience. Players such as BALIC and Max Life Insurance have strong and stable bancassurance partners to add to their own distribution channel. Among listed major players, Bajaj Allianz and Max Life have been strong performers, but HDFC Life posted strongest performance, aided by a favourable business mix (lower ULIP dependency), improving prices, and resumption of bancassurance channels business.
*Our Call*
*Strong performance continues, structural growth drivers well in place:* The insurance industry has bounced back successfully from shadows of the first wave of the pandemic. We stay positive on the insurance sector, particularly for players with a favourable business mix (protection and retiral product segments) and strong distribution network (proprietary, bancassurance etc). Structural demand for insurance across mortality, morbidity, and longevity coverage remains high.
*Investment picks:* Our preferred picks are HDFC Life, ICICI Prudential, Max Financial (holding company of Max Life Insurance), and Bajaj Finserv (holding company of Bajaj Allianz Life). We believe these companies have a strong balance sheet, are well capitalised (for the long term), have healthy operating metrics, and are well placed to ride over challenges.
*Key Risks* Delayed recovery in economic growth and resurgence of COVID-19 cases, among others, may impact premium growth as well as investment income for insurance companies.
Money Market Update
The rupee ended at 72.89 against the U.S. Dollar on Tuesday as compared to Monday's closing of 72.80.
The rupee ended at 72.89 against the U.S. Dollar on Tuesday as compared to Monday's closing of 72.80.
Trading Tweaks
Ex-Date Dividend: Rallis India, Huhtamaki India
Ex-Date Rights Issue: Vikas EcoTech
Price Band Revised From 10% To 5%: Affle (India), Ashapura Minechem, Adani Total Gas, Borosil Renewables, Butterfly Gandhimathi Appliances, Indo Rama Synthetics (India), Manali Petrochemical, Praj Industries, Supreme Petrochem
Price Band Revised From 20% To 10%: Adani Power, Hinduja Global Solutions,NACL Industries, NIIT
Ex-Date Dividend: Rallis India, Huhtamaki India
Ex-Date Rights Issue: Vikas EcoTech
Price Band Revised From 10% To 5%: Affle (India), Ashapura Minechem, Adani Total Gas, Borosil Renewables, Butterfly Gandhimathi Appliances, Indo Rama Synthetics (India), Manali Petrochemical, Praj Industries, Supreme Petrochem
Price Band Revised From 20% To 10%: Adani Power, Hinduja Global Solutions,NACL Industries, NIIT
Who’s Meeting Whom
Godawari Power and Ispat: To meet Kotak Mutual Fund and IDFC Mutual Fund on June 9, and Sundaram Mutual Fund on June 11.
Somany Home Innovation: To meet Ventura Securities on June 9.
Godawari Power and Ispat: To meet Kotak Mutual Fund and IDFC Mutual Fund on June 9, and Sundaram Mutual Fund on June 11.
Somany Home Innovation: To meet Ventura Securities on June 9.
Pledge Share Details
Emami: Promoter Sneha Enclave created a pledge of 29.50 lakh shares on June 4. Promoter Sneha Gardens revoked pledge of 1.82 lakh shares on June 4.
JSW Energy: Promoter Seema Jajodia created a pledge of 4.75 lakh shares on January 18.
Mangalore Chemicals & Fertilizers: Promoter Zuari Agro Chemicals created a pledge of 12.50 lakh shares on June 4.
Emami: Promoter Sneha Enclave created a pledge of 29.50 lakh shares on June 4. Promoter Sneha Gardens revoked pledge of 1.82 lakh shares on June 4.
JSW Energy: Promoter Seema Jajodia created a pledge of 4.75 lakh shares on January 18.
Mangalore Chemicals & Fertilizers: Promoter Zuari Agro Chemicals created a pledge of 12.50 lakh shares on June 4.
Insider Trades
Asian Granito India: Promoters (Bhagubhai Patel, Hinaben Patel, Dimpalben Patel, Bhogibhai Patel, Hiraben Patel, Bhogibhai Patel and Rameshbhai Patel) sold 10.60 lakh shares between June 3-7.
Deepak Fertilisers & Petrochemicals Corporation: Promoter Robust Marketing Services bought 16,000 shares on June 3.
Godrej Agrovet: Promoter Godrej Industries bought 22,896 shares between June 2-3.
Ultramarine & Pigments: Promoters (S Narayan, Sridhar Sundararajan and Jayalakshmi Venkataraman) sold 19,100 shares on June 7.
Asian Granito India: Promoters (Bhagubhai Patel, Hinaben Patel, Dimpalben Patel, Bhogibhai Patel, Hiraben Patel, Bhogibhai Patel and Rameshbhai Patel) sold 10.60 lakh shares between June 3-7.
Deepak Fertilisers & Petrochemicals Corporation: Promoter Robust Marketing Services bought 16,000 shares on June 3.
Godrej Agrovet: Promoter Godrej Industries bought 22,896 shares between June 2-3.
Ultramarine & Pigments: Promoters (S Narayan, Sridhar Sundararajan and Jayalakshmi Venkataraman) sold 19,100 shares on June 7.
Stocks To Watch
Glenmark Pharmaceuticals: Interim data from Post Marketing Surveillance study on Favipiravir (FabiFlu) supports its safety and effectiveness in real world settings with no new safety signals or concerns in Covid-19 patients.
Videocon Industries: Mumbai bench of the NCLT has approved Twin Star Technologies’ resolution plan for Videocon Industries Ltd. The approval comes with certain riders, one of them being that the dissenting creditors will have to be paid upfront. Twin Star Technologies is offering Rs 2,962 crore against Videocon’s overall debt of around Rs 46,000 crore.
Religare Enterprises: To raise Rs 570 crore from a clutch of 17 investors. The company will issue up to 5,41,56,761 shares at an issue price of Rs 105.25 per share to existing shareholders like Burman family and Ares SSG Capital and new investors. Fund raised to be primarily used as growth capital investment in subsidiary companies. Religare Enterprises is holding company for four subsidiary businesses including SME financing, health insurance, retail broking and affordable housing finance.
Tata Power: Competition Commission of India has approved the acquisition of 51% of the equity share capital in the three electricity supply companies of Orissa, viz. Western Electricity Supply Company, Southern Electricity Supply Company and Central Electricity Supply Company, by the Tata Power Company.
Mphasis: Competition Commission of India has approved the acquisition of the company by BCP Topco, GIC Investor & ADIA Investors.
Welspun Corp: Received multiple orders of approximately 164 KMT valuing close to Rs 1,725 crore. These include reinstatement of an offshore sour pipes supply contract (270 km / 87 KMT) in Australia for the Barossa Offshore Development Project. The company’s order book now stands at 525 KMT valued at approximately Rs 4,800 crore, after considering execution up to May 2021.
Tata Motors: Incorporated a wholly owned subsidiary called TML CV Mobility Solutions. The subsidiary will deal in sale and repair of electric vehicles, fuel cell buses and all types of commercial vehicles.
Adani Enterprises: Incorporated a wholly owned subsidiary called Mundra Windtech. The subsidiary will manufacture wind turbine generators and other auxiliaries.
Bandhan Bank: Reserve Bank of India has approved re-appointment of Chandra Shekhar Ghosh as MD and CEO of the bank, for a period of three years, with effect from July 10.
INOX Leisure: Approved opening of QIP on June 8. The floor price of Rs 315.25 per equity share is at a discount of 5.62% to Tuesday’s closing price. The board will meet on June 11 to determine the QIP issue price.
Shriram Transport Finance Company: Securities Issuance Committee to consider and determine the QIP issue price on June 11.
Thangamayil Jewellery: Showrooms and offices in Tamil Nadu to remain closed till June 14 as the state government has extended the Covid lockdown.
Earnings: Gail (India), Bata India, Bajaj Healthcare, Star Cement, Digispice Technologies, Indian Metals & Ferro Alloys, Indraprastha Medical Corp., Dhanvarsha Finvest, TeamLease Services
Glenmark Pharmaceuticals: Interim data from Post Marketing Surveillance study on Favipiravir (FabiFlu) supports its safety and effectiveness in real world settings with no new safety signals or concerns in Covid-19 patients.
Videocon Industries: Mumbai bench of the NCLT has approved Twin Star Technologies’ resolution plan for Videocon Industries Ltd. The approval comes with certain riders, one of them being that the dissenting creditors will have to be paid upfront. Twin Star Technologies is offering Rs 2,962 crore against Videocon’s overall debt of around Rs 46,000 crore.
Religare Enterprises: To raise Rs 570 crore from a clutch of 17 investors. The company will issue up to 5,41,56,761 shares at an issue price of Rs 105.25 per share to existing shareholders like Burman family and Ares SSG Capital and new investors. Fund raised to be primarily used as growth capital investment in subsidiary companies. Religare Enterprises is holding company for four subsidiary businesses including SME financing, health insurance, retail broking and affordable housing finance.
Tata Power: Competition Commission of India has approved the acquisition of 51% of the equity share capital in the three electricity supply companies of Orissa, viz. Western Electricity Supply Company, Southern Electricity Supply Company and Central Electricity Supply Company, by the Tata Power Company.
Mphasis: Competition Commission of India has approved the acquisition of the company by BCP Topco, GIC Investor & ADIA Investors.
Welspun Corp: Received multiple orders of approximately 164 KMT valuing close to Rs 1,725 crore. These include reinstatement of an offshore sour pipes supply contract (270 km / 87 KMT) in Australia for the Barossa Offshore Development Project. The company’s order book now stands at 525 KMT valued at approximately Rs 4,800 crore, after considering execution up to May 2021.
Tata Motors: Incorporated a wholly owned subsidiary called TML CV Mobility Solutions. The subsidiary will deal in sale and repair of electric vehicles, fuel cell buses and all types of commercial vehicles.
Adani Enterprises: Incorporated a wholly owned subsidiary called Mundra Windtech. The subsidiary will manufacture wind turbine generators and other auxiliaries.
Bandhan Bank: Reserve Bank of India has approved re-appointment of Chandra Shekhar Ghosh as MD and CEO of the bank, for a period of three years, with effect from July 10.
INOX Leisure: Approved opening of QIP on June 8. The floor price of Rs 315.25 per equity share is at a discount of 5.62% to Tuesday’s closing price. The board will meet on June 11 to determine the QIP issue price.
Shriram Transport Finance Company: Securities Issuance Committee to consider and determine the QIP issue price on June 11.
Thangamayil Jewellery: Showrooms and offices in Tamil Nadu to remain closed till June 14 as the state government has extended the Covid lockdown.
Earnings: Gail (India), Bata India, Bajaj Healthcare, Star Cement, Digispice Technologies, Indian Metals & Ferro Alloys, Indraprastha Medical Corp., Dhanvarsha Finvest, TeamLease Services
World Markets
Dow - 30
Nasdaq + 43
Dax - 37
Nikkei - 69
Hangseng - 25
Sgxnifty - 7 (15757)
Brent Crude 72.34
Dow Fut - 5
Dollar Index 90.09
Dow - 30
Nasdaq + 43
Dax - 37
Nikkei - 69
Hangseng - 25
Sgxnifty - 7 (15757)
Brent Crude 72.34
Dow Fut - 5
Dollar Index 90.09
Coal India Ltd (CIL) has sanctioned a historical mandate that would make it possible to re-sell coal procured via its auction schemes for export purposes.
Carrying out an amendment in Clause 11.1 of the spot auction document, the company has allowed use of coal for exports which was earlier limited for use only within the country.
However, it has been clarified that the onus of complying with any government guidelines regarding coal exports would lie solely with the buyer/exporter.
The provision would be applicable for coal procured via spot and special spot e-auction windows. Positive
Carrying out an amendment in Clause 11.1 of the spot auction document, the company has allowed use of coal for exports which was earlier limited for use only within the country.
However, it has been clarified that the onus of complying with any government guidelines regarding coal exports would lie solely with the buyer/exporter.
The provision would be applicable for coal procured via spot and special spot e-auction windows. Positive
*Prestige Estate Projects Ltd.* | *CMP* Rs. 291 | *M Cap* Rs. 11665 Cr | *52 W H/L* 325/134
(Nirmal Bang Retail Research)
*Result improved*
Revenue from Operations came at Rs. 2268.1 Cr (22.8% QoQ, 14.4% YoY) vs QoQ Rs. 1847.6 Cr, YoY Rs. 1982.3 Cr
EBIDTA came at Rs. 550.4 Cr (23% QoQ, 10.2% YoY) vs QoQ Rs. 447.6 Cr, YoY Rs. 499.6 Cr
EBITDA Margin came at 24.3% vs QoQ 24.2%, YoY 25.2%
Adj. PAT came at Rs. 190.2 Cr vs QoQ Rs. 58.7 Cr, YoY Rs. 15.4 Cr
Quarter EPS is Rs. 4.7
Share is trading at P/E of 24.5x FY22E EPS
(Nirmal Bang Retail Research)
*Result improved*
Revenue from Operations came at Rs. 2268.1 Cr (22.8% QoQ, 14.4% YoY) vs QoQ Rs. 1847.6 Cr, YoY Rs. 1982.3 Cr
EBIDTA came at Rs. 550.4 Cr (23% QoQ, 10.2% YoY) vs QoQ Rs. 447.6 Cr, YoY Rs. 499.6 Cr
EBITDA Margin came at 24.3% vs QoQ 24.2%, YoY 25.2%
Adj. PAT came at Rs. 190.2 Cr vs QoQ Rs. 58.7 Cr, YoY Rs. 15.4 Cr
Quarter EPS is Rs. 4.7
Share is trading at P/E of 24.5x FY22E EPS
GM jsk stock in news welspuncorp,saintgobain,Asahi glass,abanoff,ongc,oilindia,cadila,Minda,hesterbio, Glenmark,maxfin,ion,eil,prestigeest,Mindtree,Gail. Nifty range 15650-15825.
*Good Morning*
• World Bank Sees Strongest Rebound in 80 Years Despite Divergence
• India to Sell 20% Ethanol-Blended Gasoline Across Country 2025
• India Is Said to Change Vegoil Tariff Value Revision Frequency
• India Court Allows Billionaire Agarwal to Takeover Videocon
• CII Approves Proposed Merger of Aakash with Byju’s
• Global Funds Buy Net INR14.2B of Indian Stocks on Tuesday: NSE
o Domestic funds buy net 16.3 billion rupees of stocks
• Foreign Investors Buy Net INR1.61B of Indian Equities on June 7
• Foreigners Buy Net INR456M of Indian Equity Derivatives Tuesday
• Jaishankar to begin Kuwait visit on Wednesday; to carry PM Modi’s letter to Kuwaiti Emir: PTI
• Govt hopeful of holding Monsoon Session of Parliament on schedule in July: Minister: PTI
• Adani Enterprises (ADE): Says form new unit Mundra Windtech
• Asian Hotels (West) (AHWL): Mumbai Hyatt Regency operator says lender Yes Bank holding off payments
• Bandhan Bank (BANDHAN): Says RBI approved re-appointment of Ghosh as MD & CEO
• Den Network (DEN): ICICI Bank sold 2.4m shares in DEN in bulk deal: NSE
• Engineers India (ENGR): 4Q profit 305.4m rupees vs 1.3b year ago, 4Q has exceptional loss of INR1.55b; revenue 11.2b vs 8.54b
• Glenmark Pharmaceuticals (GNP): Says interim data from Favipiravir study supports safety
• Inox Leisure (INOL): QIP floor price set at 315.25 rupees per share
• Max Financial (MAXF): 4Q net income 623.4m rupees vs. loss 360.9m y/y; revenue 97.6b vs. 42.6b
• Mphasis (MPHL): CCI approves purchase of Mphasis by BCP Topco, GIC and ADIA investors
• Petronet LNG (PLNG): 4Q net income and revenue miss estimate
• Power Grid Corp. (PWGR): Says acquires Sikar-II Aligarh Transmission SPV
• Religare Enterprises (RELG): To raise INR5.7b via pref. issue of shares at INR105.25 each
• Shriram Transport (SHTF): To consider QIP issue price on June 11
• Tata Motors (TTMT): Form new unit TML CV Mobility Solutions to deal in sale, repair of truck, EVs
• Tata Power (TPWR): CII approves stake buy in 3 power discoms by Tata Power
• Welspun Corp (WLCO): Wins multiple orders for 164 kms offshore sour pipes supply valuing INR17.3b
• World Bank Sees Strongest Rebound in 80 Years Despite Divergence
• India to Sell 20% Ethanol-Blended Gasoline Across Country 2025
• India Is Said to Change Vegoil Tariff Value Revision Frequency
• India Court Allows Billionaire Agarwal to Takeover Videocon
• CII Approves Proposed Merger of Aakash with Byju’s
• Global Funds Buy Net INR14.2B of Indian Stocks on Tuesday: NSE
o Domestic funds buy net 16.3 billion rupees of stocks
• Foreign Investors Buy Net INR1.61B of Indian Equities on June 7
• Foreigners Buy Net INR456M of Indian Equity Derivatives Tuesday
• Jaishankar to begin Kuwait visit on Wednesday; to carry PM Modi’s letter to Kuwaiti Emir: PTI
• Govt hopeful of holding Monsoon Session of Parliament on schedule in July: Minister: PTI
• Adani Enterprises (ADE): Says form new unit Mundra Windtech
• Asian Hotels (West) (AHWL): Mumbai Hyatt Regency operator says lender Yes Bank holding off payments
• Bandhan Bank (BANDHAN): Says RBI approved re-appointment of Ghosh as MD & CEO
• Den Network (DEN): ICICI Bank sold 2.4m shares in DEN in bulk deal: NSE
• Engineers India (ENGR): 4Q profit 305.4m rupees vs 1.3b year ago, 4Q has exceptional loss of INR1.55b; revenue 11.2b vs 8.54b
• Glenmark Pharmaceuticals (GNP): Says interim data from Favipiravir study supports safety
• Inox Leisure (INOL): QIP floor price set at 315.25 rupees per share
• Max Financial (MAXF): 4Q net income 623.4m rupees vs. loss 360.9m y/y; revenue 97.6b vs. 42.6b
• Mphasis (MPHL): CCI approves purchase of Mphasis by BCP Topco, GIC and ADIA investors
• Petronet LNG (PLNG): 4Q net income and revenue miss estimate
• Power Grid Corp. (PWGR): Says acquires Sikar-II Aligarh Transmission SPV
• Religare Enterprises (RELG): To raise INR5.7b via pref. issue of shares at INR105.25 each
• Shriram Transport (SHTF): To consider QIP issue price on June 11
• Tata Motors (TTMT): Form new unit TML CV Mobility Solutions to deal in sale, repair of truck, EVs
• Tata Power (TPWR): CII approves stake buy in 3 power discoms by Tata Power
• Welspun Corp (WLCO): Wins multiple orders for 164 kms offshore sour pipes supply valuing INR17.3b
*SGX Nifty -14 pts (15750) from last trade 15764 ,*
Nikkei -114 pts ,
Hangseng -10 pts ,
Now @6.53am .
Dow -30.42 pts ,Nsdq +43.19 pts, S&P
+0.74 pts, , Bovespa -989 pts , Ftse +17 pts , Dax -36 pts , Cac +7 pts , Crude @ $70.16 brl (+0.10), Brent @ $72.29 brl (+0.07) , Gold @ 1897.90 (+2.70), Silver @ $27.775 (+0.04), Euro @ $1.2175, JPY @ $109.44, INR @ 72.955
*Today's Corporate Action*
*9th Jun Ex Date*
HUHTAMAKI
Final Dividend - Rs. - 3.0000
RALLIS
Final Dividend - Rs. - 3.0000
*Today's Key Results/Board Meetings*
*9-Jun-21*
GAIL India, Bata India, Bajaj Healthcare, BCL Industries, Dynamic Cables, Gayatri Highways, GSS Infotech, Indian Metals & Ferro Alloys, Indraprastha Medical Corporation, Munjal Auto Industries, Shivam Autotech, Star Cement, Taneja Aerospace, and TeamLease Services will release quarterly earnings on June 9.
*Stock under F&O ban on NSE*
*9-Jun-21*
1IBULHSGFIN
2NATIONALUM
3PNB
4SAIL
5SUNTV
Nikkei -114 pts ,
Hangseng -10 pts ,
Now @6.53am .
Dow -30.42 pts ,Nsdq +43.19 pts, S&P
+0.74 pts, , Bovespa -989 pts , Ftse +17 pts , Dax -36 pts , Cac +7 pts , Crude @ $70.16 brl (+0.10), Brent @ $72.29 brl (+0.07) , Gold @ 1897.90 (+2.70), Silver @ $27.775 (+0.04), Euro @ $1.2175, JPY @ $109.44, INR @ 72.955
*Today's Corporate Action*
*9th Jun Ex Date*
HUHTAMAKI
Final Dividend - Rs. - 3.0000
RALLIS
Final Dividend - Rs. - 3.0000
*Today's Key Results/Board Meetings*
*9-Jun-21*
GAIL India, Bata India, Bajaj Healthcare, BCL Industries, Dynamic Cables, Gayatri Highways, GSS Infotech, Indian Metals & Ferro Alloys, Indraprastha Medical Corporation, Munjal Auto Industries, Shivam Autotech, Star Cement, Taneja Aerospace, and TeamLease Services will release quarterly earnings on June 9.
*Stock under F&O ban on NSE*
*9-Jun-21*
1IBULHSGFIN
2NATIONALUM
3PNB
4SAIL
5SUNTV
*Ion Exchange (India) Ltd.* | *CMP* Rs. 1697 | *M Cap* Rs. 2489 Cr | *52 W H/L* 1697/599
(Nirmal Bang Retail Research)
*Result good*
Revenue from Operations came at Rs. 445.2 Cr (27.5% QoQ, 26.8% YoY) vs QoQ Rs. 349.2 Cr, YoY Rs. 351.1 Cr
EBIDTA came at Rs. 85.6 Cr (92.5% QoQ, 117.6% YoY) vs QoQ Rs. 44.5 Cr, YoY Rs. 39.4 Cr
EBITDA Margin came at 19.2% vs QoQ 12.7%, YoY 11.2%
Adj. PAT came at Rs. 70.2 Cr vs QoQ Rs. 29.1 Cr, YoY Rs. 28 Cr
Quarter EPS is Rs. 47.8
Share is trading at P/E of 17.3x TTM EPS
(Nirmal Bang Retail Research)
*Result good*
Revenue from Operations came at Rs. 445.2 Cr (27.5% QoQ, 26.8% YoY) vs QoQ Rs. 349.2 Cr, YoY Rs. 351.1 Cr
EBIDTA came at Rs. 85.6 Cr (92.5% QoQ, 117.6% YoY) vs QoQ Rs. 44.5 Cr, YoY Rs. 39.4 Cr
EBITDA Margin came at 19.2% vs QoQ 12.7%, YoY 11.2%
Adj. PAT came at Rs. 70.2 Cr vs QoQ Rs. 29.1 Cr, YoY Rs. 28 Cr
Quarter EPS is Rs. 47.8
Share is trading at P/E of 17.3x TTM EPS
*Engineers India Ltd.* | *CMP* Rs. 88 | *M Cap* Rs. 5561 Cr | *52 W H/L* 94/60
(Nirmal Bang Retail Research)
*Result ahead of expectation*
Revenue from Operations came at Rs. 1116.7 Cr (33.5% QoQ, 30.8% YoY) vs expectation of Rs. 922.3 Cr, QoQ Rs. 836.7 Cr, YoY Rs. 853.8 Cr
EBIDTA came at Rs. 164 Cr (118.5% QoQ, 47.7% YoY) vs expectation of Rs. 113.6 Cr, QoQ Rs. 75.1 Cr, YoY Rs. 111 Cr
EBITDA Margin came at 14.7% vs expectation of 12.3%, QoQ 9%, YoY 13%
Adj. PAT came at Rs. 139.1 Cr vs expectation of Rs. 121.2 Cr, QoQ Rs. 88.2 Cr, YoY Rs. 129.7 Cr
Quarter EPS is Rs. 2.2
Share is trading at P/E of 11.7x FY22E EPS
(Nirmal Bang Retail Research)
*Result ahead of expectation*
Revenue from Operations came at Rs. 1116.7 Cr (33.5% QoQ, 30.8% YoY) vs expectation of Rs. 922.3 Cr, QoQ Rs. 836.7 Cr, YoY Rs. 853.8 Cr
EBIDTA came at Rs. 164 Cr (118.5% QoQ, 47.7% YoY) vs expectation of Rs. 113.6 Cr, QoQ Rs. 75.1 Cr, YoY Rs. 111 Cr
EBITDA Margin came at 14.7% vs expectation of 12.3%, QoQ 9%, YoY 13%
Adj. PAT came at Rs. 139.1 Cr vs expectation of Rs. 121.2 Cr, QoQ Rs. 88.2 Cr, YoY Rs. 129.7 Cr
Quarter EPS is Rs. 2.2
Share is trading at P/E of 11.7x FY22E EPS
*Petronet LNG Ltd.* | *CMP* Rs. 248 | *M Cap* Rs. 37200 Cr | *52 W H/L* 275/201
(Nirmal Bang Retail Research)
*Result marginally below expectation*
Revenue from Operations came at Rs. 7575.3 Cr (3.4% QoQ, -11.6% YoY) vs expectation of Rs. 8806.5 Cr, QoQ Rs. 7328.2 Cr, YoY Rs. 8567.2 Cr
EBIDTA came at Rs. 1091.1 Cr (-18.3% QoQ, 56.4% YoY) vs expectation of Rs. 1143.7 Cr, QoQ Rs. 1335.3 Cr, YoY Rs. 697.5 Cr
EBITDA Margin came at 14.4% vs expectation of 13%, QoQ 18.2%, YoY 8.1%
Adj. PAT came at Rs. 623.4 Cr vs expectation of Rs. 729.3 Cr, QoQ Rs. 878.5 Cr, YoY Rs. 359 Cr
Quarter EPS is Rs. 4.2
Share is trading at P/E of 11.4x FY22 EPS
(Nirmal Bang Retail Research)
*Result marginally below expectation*
Revenue from Operations came at Rs. 7575.3 Cr (3.4% QoQ, -11.6% YoY) vs expectation of Rs. 8806.5 Cr, QoQ Rs. 7328.2 Cr, YoY Rs. 8567.2 Cr
EBIDTA came at Rs. 1091.1 Cr (-18.3% QoQ, 56.4% YoY) vs expectation of Rs. 1143.7 Cr, QoQ Rs. 1335.3 Cr, YoY Rs. 697.5 Cr
EBITDA Margin came at 14.4% vs expectation of 13%, QoQ 18.2%, YoY 8.1%
Adj. PAT came at Rs. 623.4 Cr vs expectation of Rs. 729.3 Cr, QoQ Rs. 878.5 Cr, YoY Rs. 359 Cr
Quarter EPS is Rs. 4.2
Share is trading at P/E of 11.4x FY22 EPS
*Two dozen Chinese fighter jets carry out exercise opposite Eastern Ladakh, India watches closely* https://www.timesnownews.com/india/article/two-dozen-chinese-fighter-jets-carried-out-exercise-opposite-eastern-ladakh-india-watched-closely/767777
TimesNowNews.com
Two dozen Chinese fighter jets carry out exercise opposite Eastern Ladakh, India watches closely
The Chinese aircraft remained well within their territory during the aerial drills.The Indian fighter aircraft activity in the Ladakh area has gone up significantly since last year.
*🔹INSTL. INVESTORS EQUITY DERIVATIVES TRADES AS ON : 08-06-2021 :*
*FIIS F & O : RS. CRS. :*
*TOTAL NET BUY : +46* 🙂
*INDEX FUT. : -67*
*INDEX OPT. : +858*
*STOCK FUT. : -524*
*STOCK OPT. : -221*
*🔹SEC. IN F&O BAN FOR 09-June-2021:*
*1. NATIONALUM 2. PNB 3. IBULLHSGFIN 4. SAIL 5. SUNTV*
*ADDITION : NATIONALUM*
*DELETION : NIL*
*🔹INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 08-JUN-21 : (Rs. CRS )*
*FIIS : BUY +1422 (7646-6224)* 😄
*DIIS : SELL -1627 (3936-5563)* 😢
*BSE SENSEX : -53* *(52,275)🔽*
*NSE NIFTY : -11 (15,740)*🔽
*BSE MIDCAP. : +85* *(22,774)*🔼
*BSE SMLCAP. : +229* *(24,826)*🔼
*B. CRUDE* : *$ 70.79* *(5pm)* 🔽 🙂
*GOLD: $1895=INR.49220(10gr)(5pm)*🔼🙂
*SILVER :* *RS. 71,700 (kg) (5pm) 🔼 😊*
*FOREX : RS. : $ 72.89* 🔽 😔
*5.85% GOI. '30 : 6.0064% (98.88)* 🔽 🙂
*FIIS F & O : RS. CRS. :*
*TOTAL NET BUY : +46* 🙂
*INDEX FUT. : -67*
*INDEX OPT. : +858*
*STOCK FUT. : -524*
*STOCK OPT. : -221*
*🔹SEC. IN F&O BAN FOR 09-June-2021:*
*1. NATIONALUM 2. PNB 3. IBULLHSGFIN 4. SAIL 5. SUNTV*
*ADDITION : NATIONALUM*
*DELETION : NIL*
*🔹INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 08-JUN-21 : (Rs. CRS )*
*FIIS : BUY +1422 (7646-6224)* 😄
*DIIS : SELL -1627 (3936-5563)* 😢
*BSE SENSEX : -53* *(52,275)🔽*
*NSE NIFTY : -11 (15,740)*🔽
*BSE MIDCAP. : +85* *(22,774)*🔼
*BSE SMLCAP. : +229* *(24,826)*🔼
*B. CRUDE* : *$ 70.79* *(5pm)* 🔽 🙂
*GOLD: $1895=INR.49220(10gr)(5pm)*🔼🙂
*SILVER :* *RS. 71,700 (kg) (5pm) 🔼 😊*
*FOREX : RS. : $ 72.89* 🔽 😔
*5.85% GOI. '30 : 6.0064% (98.88)* 🔽 🙂
Bonanza for MSMEs! World Bank approves $500 million program for Indian enterprises
http://businesstoday.intoday.in/story/bonanza-for-msmes-world-bank-approves-500-million-program-for-indian-enterprises/1/441111.html
http://businesstoday.intoday.in/story/bonanza-for-msmes-world-bank-approves-500-million-program-for-indian-enterprises/1/441111.html
Business Today
Bonanza for MSMEs! World Bank approves $500 million program for Indian enterprises
The $500 million loan from the International Bank for Reconstruction and Development (IBRD) has a maturity of 18.5 years including a grace period of 5.5 years.
PETRONET LNG:
Q4 CONS NET PROFIT 6.38B RUPEES VS 3.73B (YOY); EST 7.26B | 8.82B (QOQ
Q4 REVENUE 75.75B RUPEES VS 85.67B (YOY)
CO *RECOMMENDED FINAL DIVIDEND OF RUPEES 3.50 PER SHARE*
Q4 CONS NET PROFIT 6.38B RUPEES VS 3.73B (YOY); EST 7.26B | 8.82B (QOQ
Q4 REVENUE 75.75B RUPEES VS 85.67B (YOY)
CO *RECOMMENDED FINAL DIVIDEND OF RUPEES 3.50 PER SHARE*