Money Market Update

The rupee ended at 72.97 against the U.S. Dollar on Wednesday as compared to Tuesday's closing of 72.89.

Trading Tweaks

Ex-Date Dividend: Asian Paints, GHCL, ITC, Nippon Life India Asset Management, Shree Digvijay Cement

Record Date For Rights Issue: Vikas EcoTech

Ex-Date Bonus: Varun Beverages

Move Into Short Term ASM Framework: NACL, Accuracy Shipping, RattanIndia Power, Trejhara Solutions, Country Condo's, DPSC. Aptech, Indowind Energy, Vishal Fabrics, BL Kashyap & Sons, Shyam Century Ferrous, Astra Microwave Products, Deep Industries, Ramky Infrastructure, EIH Associate Hotels, Jump Networks, Shree Renuka Sugars

Move Out Of Short Term ASM Framework: Vaswani Industries, Palash Securities

Insider Trades

Advanced Enzyme Technologies: Promoter Group Advanced Vital Enzymes Pvt. Ltd. sold 5,000 shares on June 9.

Astra Microwave Products: Promoter Renuka Chitrakar sold 50,000 shares on June 8. Promoter P.A. Chitrakar sold 50,000 shares on June 8.

Deepak Fertilizers and Petrochemicals: Promoters Robust Market Services Pvt. Ltd. bought 27,000 shares on June 7.

Zuari Global: Promoter Adventz Finance Pvt. bought 2 lakh shares on June 8.

Stocks To Watch

Reliance Industries: Company said the Fluidized Catalytic Cracker Unit in the Jamnagar refinery had to be taken for an emergency shutdown on June 6. Some product shipments may get delayed and company is working on minimizing impact on customers. FCCU unit being repaired on top priority. All other units in the Jamnagar refining complex operating normally.

GAIL India: Company plans to list two of its gas pipeline projects via an infrastructure investment trust, Chairman Manoj Jain said in an analyst call after the March-quarter earnings. The InvIT will replace GAIL’s earlier plan to spin off its gas transmission business into a separate unit.

Prestige Estates Projects: Company expects annual sales to reach Rs 8,000-10,000 crore over the next three years as it expands presence to new cities, Chairman and Managing Director Irfan Razack said in an earnings call.

MMTC: Lenders led by State Bank of India approved moratorium on loans and interest repayment. Company has signed the master debt resolution agreement and related documents with lenders for proposed debt restructuring.

Tata Motors: Board constituted committee to meet on June 14 to consider raising Rs 500 crore via non-convertible debentures.

Reliance Power: Board will meet on June 13 to consider and approve raising of long-term resources from domestic and/or global markets.

Tube Investments: Board will meet on June 17 to consider authorising borrowing through various means including by way of issue of nonconvertible debentures on a private placement basis, in one or more tranches.

Jet Airways: 22nd meeting of the Committee of Creditors is scheduled to be held on June 14.

GMR Infrastructure: 72.14% of total shares held by promoters and promoter group entities are encumbered.

World Markets

Dow - 153
Nasdaq -13
Dax - 59
Nikkei + 126
Hangseng + 149
Sgxnifty + 40 (15709)
Brent Crude 71.81
Dow Fut + 46
Dollar Index 90.16

Offer for Sales of Accelya Solution India Ltd opening tomorrow for 21.82 lakh share at floor price of Rs.910 (CMP Rs.1092). The OFS is to bring down the promoter holding to 75%

*Suven Pharma – Q4FY21 Concall Update – Nirmal Bang Sec.*
*Outlook – Positive for long term however Q1 could be muted*

The stock is trading at 26.6x FY22E consensus earnings

• Sales and PAT have declined sequentially due to product mix. Increase in costs such as - logistics, Tier 1 capital, raw materials, utilities resulted in lower PAT yoy growth. If raw material cost increases by more than 10% then only the company is able to passed on to customers.
• Rising Pharma contributed sales of Rs 18.7 cr in Q4 and Rs 53.7 cr in FY21.
• In FY21, six ANDAs were approved and launched. Expecting 6 more ANDAs in FY22E. In addition, the company has filed 5 more ANDAs and likely to file 5-6 more in FY22.
• In general, the management is confident of maintaining yearly EBITDA margins between 35-40% for FY22 (vs 43.8% in FY21)
• Core CRAMS is expected to grow by 10-15%. Specialty chemicals is expected to remain flat to grow 5% and formulations is expected to grow by 10-20%. Overall, the company is hoping to grow by 10-15% in FY22.
• Q1 could be impacted due to severity of the second wave which affected manpower availability, higher logistics costs, increased raw material costs, unavailability of containers and industrial oxygen.
• Capex done in FY21 – Rs 302 cr and has balance of Rs 18 cr which would be spent in FY22 along with incremental Rs 600 cr earmarked for 3 yrs.

*Bata India Ltd.* | *CMP* Rs. 1558 | *M Cap* Rs. 20025 Cr | *52 W H/L* 1705/1214
(Nirmal Bang Retail Research)
*Result is in-line with expectations*
Revenue from Operations came at Rs. 589.9 Cr (-4% QoQ, -4.8% YoY) vs expectation of Rs. 593.6 Cr, QoQ Rs. 614.7 Cr, YoY Rs. 619.7 Cr
EBIDTA came at Rs. 112 Cr (-4.4% QoQ, -19.3% YoY) vs expectation of Rs. 114.9 Cr, QoQ Rs. 117.1 Cr, YoY Rs. 138.8 Cr
EBITDA Margin came at 19% vs expectation of 19.4%, QoQ 19.1%, YoY 22.4%
Adj. PAT came at Rs. 29.4 Cr vs expectation of Rs. 26.9 Cr, QoQ Rs. 30.4 Cr, YoY Rs. 37.6 Cr
Quarter EPS is Rs. 2.3
Share is trading at P/E of 54.8x FY22E EPS

*Indraprastha Medical Corporation Ltd.* | *CMP* Rs. 99 | *M Cap* Rs. 905 Cr | *52 W H/L* 98.7/35
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 198.1 Cr (10% QoQ, -1.2% YoY) vs QoQ Rs. 180 Cr, YoY Rs. 200.5 Cr
EBIDTA came at Rs. 30 Cr (15.4% QoQ, 70.9% YoY) vs QoQ Rs. 26 Cr, YoY Rs. 17.5 Cr
EBITDA Margin came at 15.1% vs QoQ 14.4%, YoY 8.7%
Adj. PAT came at Rs. 15.1 Cr vs QoQ Rs. 12 Cr, YoY Rs. 6.5 Cr
Quarter EPS is Rs. 1.6

Reliance Power Board meeting on 11 June to consider raising of fund through issue of equity share / warrent. Positive

Bulk Deal as on 09-06-21

Deep Ind
- 1.62 Lk @ 91.83 Rakesh Rajkrishan Agarwal

Den Networks
- 42.23 Lk @ 57.35 Icicibank Ltd

Dhanuka Agritech
+ 15.98 Lk @ 853 Government of Singapore
+ 3.56 Lk @ 853 Monetary Authority of Singapore
- 19.66 Lk @ 853 Triveni Trust
- 3.62 Lk @ 861.12 Pushpa Dhanuka Trust
Arm

Ion Exchange
+ 1.20 Lk @ 1984.49 Franklin Templeton Mutual fund

Kalyani Investment
+ 24 K @ 2025.07 Ajinkya Investment & Trading Co
- 24 K @ 2022.73 POONAWALLA Avitation Pvt Ltd

Magadh Sugar
+ 1.03 Lk @ 271.63 Singh Man Mohan

Nazara Technologies
+ 64 K @ 1641.95 Alps/Kotak Growth Fund
+ 5.85 Lk @ 1641.95 Norges Bank Goverment Pension Fund
- 6.49 Lk @ 1641.95 IIFL Special OpportunitIes Fund

Pricol
+ 18.88 Lk @ 89.45 Nomura Singapore Ltd
- 18.88 Lk @ 89.45 Heshika Growth Fund

Talbros Automotive
- 65 K @ 295.37 Krishnaswamy Mohan

Veto Switchgear
+ 1 Lk @ 150 Mahaveer Equibiz

Crompton
- 3.36 Crore @ 400.4 Amalfiaco Ltd
+ 1.24 Crore @ 400.4 Sbi Mutual Fund
+ 18.70 Lk @ 400.4 Sbi Life insurance Co Ltd
+ 30 Lk @ 400.4 Mirae Asset Mutual Fund
+ 17.40 Lk @ 400.4 Public Sector Pension Investment
+ 14.80 Lk @ 400.4 Hdfc Standard Life insurance company Ltd
+ 24.97 Lk @ 400.4 Icici Prudential Life insurance company Ltd
+ 11.95 Lk @ 400.4 Integrated Core Strategies Asia Pte
+ 35.30 Lk @ 400.4 Ashoka India Opportunities Fund
+ 13.23 Lk @ 400.4 Al Mehwar Commercial Investment LLP
+ 2.07 Lk @ 400.4 Abs Direct Equity Fund
+ 2.55 Lk @ 400.4 Alps/Kotak Growth Fund
+ 6.19 Lk @ 400.4 Ashoka India Equity Investment
+ 2.55 Lk @ 400.4 Aurigin Master Fund Ltd
+ 2.55 Lk @ 400.4 Bnp Paribas Arbitage
+ 4.20 Lk @ 400.4 Bharti AXA Life insurance company Ltd
+ 6.73 Lk @ 400.4 Caisse De Depot Et Placement
+ 7.37 Lk @ 400.4 India Acorn Fund
+ 7.20 Lk @ 400.4 Morgan Stanley Mauritius
+ 4.09 Lk @ 400.4 White Oak India Equity Fund

*MF Fundflows, AUM, Folios summary for the month – MAY-2021*
(Amount in Rs.)

*Net Outflows:* -38602 Crs
*Total AUM:* 33,05,660 Crs, New High (by Mth end)
*Total Folios:* Crossed 10 Crs milestone, at 10.04 Crs, New High

*Monthly Fund flow highlights:*
👉🏼 Equity attracted inflows of 9235 crs, 3rd most in 26 Mths.
↪️ Major Net Inflows (O.E schemes): Multicap 1954 crs, helped by a NFO ; Midcap 1368 crs, up 74% from 3M avg ; Focused fund 1169 crs, up 142% from 3M avg helped by a NFO ; Sector/Thematic 1137 crs .
↩️ Major Net Outflows: ELSS -290 crs. Close ended equity -848 crs, a 6M high.
🔴 Gross redemptions of Open-ended Equity reduced to 15551 crs, a 11M low.

👉🏼 SIP Inflows in May’21: 8818 crs, 2nd most historically ; SIP A/cs: above 3.79 Crs, a new high

👉🏼 Debt suffered net inflows at -63454 crs. Debt (Ex-liquid and O/n) remained net outflows at -38602 crs.
↪️ Major Net Inflows: Low dur 7823 crs, 6th most in 26M ; Money mkt 4334 crs, down -43% from 3M avg ; Ultra short dur 2924 crs ; Medium to long dur 847 crs, highest in 26M.
↩️ Major Net Outflows: Liquid -45447 crs ; Overnight -11573 crs, 3rd worst in 26M – both a surprise in middle of the quarter ; Corp. bond -1468 crs ; Banking & PSU -1340 crs – both at 4th low in 26M . Close ended Debt -18942 crs, near multi year high outflows, mostly due to redemptions across nearly 69 schemes, highest in recent months.

👉🏼 Hybrid received net inflows of 6217 crs, 4th best in 26M.
↪️ Net Inflows: Arbitrage 4521 crs, down -11.7% from 3M avg ; Dyn AA / Bal Adv 1363 crs, 4th best in 26M. Equity savings saw it’s first inflow in 26 mths at 382 crs (without NFO). Cons. Hybrid 395 crs, most in 26M, in part helped by a NFO.
↩️ Net Outflows: Aggressive hyb -435 crs, 3rd best in 26M ; Multi Asset Alloc -8 crs.

👉🏼 Solution saw net inflows of 68 crs.

👉🏼 Others pulled net inflows of 9332 crs, up 63% from 3M avg inflows.
↪️ Net Inflows: Other ETFs 5380 crs, up 99% from 3M avg ; Overseas FoF 2424 crs, an all-time high monthly inflow, helped by 2 NFOs ; Index fund 1241 crs, 3rd most in 26M ; Gold ETF 288 crs, down -53% from 3M avg.
↩️ Net Outflows: Nil.

👉🏼 NFO sales in May’21: 5910 crs across 12 schemes (53% from Equity ; 28.8% Overseas FoF ; 7.5% Other ETFs).

👉🏼 Between May’20 to May’21: Number of open ended schemes went up by 60 with more NFOs coming in (Equity 27 ; Other ETFs 21 ; Index 12 ; Overseas FoF 8 ; Hybrid 6 ; Soln 2. Debt schemes were down -16) ; Close ended scheme count decreased by -289 (Debt 250 ; Equity 39) primarily owing to maturities and dryness in fresh offerings. Total schemes stood at 1597 (OE: 1027 ; CE: 570).
👉🏼 April/May usually witnesses higher maturity of close ended debt schemes, that were launched at the end of previous FYs, with the timeline advantage of additional year of indexation.

*Monthly Folio change highlights:*
👉🏼 Industry witnessed highest ever monthly folio addition of 1867436 in May’21. The previous high was in Jan’18 at 18.45 lakh folios.

👉🏼 Equity added 1078091 folios, most likely a multi-year high.
➕ Major Folio Additions: Sector / Theme 218854, 3rd most in 25M ; Smallcap 167498, 25M best ; Flexicap 140234 ; Midcap 127751, 2nd best in 25M.
➖ Major Folio Reductions: Value/Contra -182, 2nd best in 25M (lowest reduction).

👉🏼 Debt lost -3035 folios. Debt (ex-liq/on) ended up adding a meagre 178 folios, reversing from 2 mths of reductions.
➕ Major Folio Additions: Corp. bond 11254, despite outflows, up 159% from 3M avg ; Short dur 7536 ; Medium dur 3632 ; Ultra short dur 3224.
➖ Major Folio Reductions: Liquid -3819 ; Low dur -2317, 3rd mth in a row ; Gilt -2091, 4th mth in a row.

👉🏼 Hybrid added 62739 folios, 4th most in 25M.
➕ Folio Additions: DAA / Bal Adv 29816, down -45% from 3M avg ; Cons. Hybrid 17006, most in 25M.
➖ Folio Reductions: NIL.

👉🏼 Solution funds added 2376 folios.

👉🏼 Others added 727265 folios, a 25M best.
➕ Folio Additions: Other ETFs 368072, an all-time high (in part support from 4 NFOs) ; Gold ETF 154503, 3rd most historically ; Overseas FoF 115666, an all-time high, in part lifted by 2 NFOs ; Index 89024, 2nd most in 25M, also helped by a NFO.
➖ Folio Reductions: NIL.

Source: AMFI

Highest Equity MF Inflow since Mar 20

👉Equity MF ~10,082 Cr

👉ETF/Index Funds ~9331 Cr

👉SIP ~8819 Cr

👉Multi-cap Funds turned +Ve

👉Highest AUM ~32.99 Lac Cr

MultiBagger Potential🚀 for study

Take Solutions 71 / 72🚀

TAKE Solutions is a technology driven, full service Clinical Research Organization. It helps biopharma companies throughout the drug development process, and beyond & it constitutes 94% of company`s revenue. Headquartered in Chennai, India, it has a global footprint spanning the Americas, Europe and the Asia Pacific region. It has 1,70,000 regulatory submissions and submitted 5% of all regulatory submissions to USFDA 2012 to 2020.

*Geographical Split*
USA: 85% in FY 20 vs 80% in FY17
Asia-Pacific: 13% in FY20
Europe: 2% in FY20 vs 7% in FY17

*Cliental Base*
The Co. had about 400 active clients at the end of FY20. Some of their clients are Pfizer Inc, Celgene Corporation, Mylan N.V, Dr. Reddy’s Laboratories, etc. Top 10 customers contribute only 24% of the overall revenue. 90% of the business is from the same set of clients.

*Recent Cost Cutting Measures*
The Co. has Shut down Europe business during Q1 of FY 21 because it wasn't generating cash, which in turn decreased SG&A expenses from about Rs 185 Cr a quarter in FY20 to around Rs 37 Cr a quarter in FY 21.

*Recent Orders*
Till Sep 20, Company has won 3 contracts worth more than Rs 14 Cr each and won another 3 contracts worth more than Rs 7 Cr each. The Co. has signed exclusive strategic partnership with 2 SME biotech to take over their complete drug Trial portfolio. It has signed a 5-year contract for PV technology and services A top 5 pharmaceutical renewed a Rs 37 Cr contract.

Accelya Solutions OFS Announced
Non-retail date - 10 June
Retail bid date - 11 June

Floor Price - 910/-
Today's close - 1,098/-

Base OFS Size : 21,81,773 Shares
Greenshoe Option : NIL
Total OFS Size : 21,81,773 shares

Retail Reservation - 10% of OFS
Retail Discount - NIL

INDIAN METALS Q4 : Net Profit 65.4 cr against Rs 51 cr loss last year

Revnue up 51 % to Rs 576 cr

EBITDA up 87 % to Rs 128 cr (QOQ)

MARGINS at 22.3 % V 16.07 % (QOQ)

BATA INDIA:
Q4 CONS NET PROFIT 294.7M RUPEES VS 384.1M (YOY); EST 367M | 264M (QOQ)

Q4 REVENUE 5.9B RUPEES VS 6.21B (YOY)

CO BOARD RECOMMENDED A *DIVIDEND OF 4 RUPEES PER SHARE*

CO APPOINTED VIDHYA SRINIVASAN AS CFO FOR 5 YRS

STRONG MONOPOLIES :

*IRCTC* 100% Market share in Rail Network.

*IEX* >90% market share in power trading.

*Zydus wellness* >90% market share in sugar free product.

*Eicher motors* >85% market share in 250cc bikes category.

*MCX* >85% market share in commodity trading.

*Coal India* >80% market share in coal production in India.

*ITC* >75% market share in cigarettes.

*Honda Siel* >75% in portable power generators.

*Hindustan Zinc* >75% market share in primary zinc industry.

*Asahi India Glass* >70% market share in automotive glass.

*NRB Bearings* >70% market share in needle roller bearings.

*Pidilite* >65% market share in adhesives.

*CAMS* >65% market share in RTA within mutual fund industry.

*Time Technoplast* >65% market share in polymer based industrial packaging.

*Concor* >65% market share in domestic container cargo transport.

*Exide* >60% market share in lead batteries.

*Naukri* >60% market share in the Indian job market space.

*Praj* >60% market share in ethanol plant installing.

*Indiamart Intermesh* >55% market share in the online B2B Classified space.

*Borosil Renewables* >55% market share in Lab glass.

*Vst Tillers* >50% market share in
Power tillers.

*Delta corp* >50% in online poker games.

*Vinati Organics* >50% market share in IBB.

*OCCL* >50% market share in IS.

*LMW* >50% market share in textile machinery.

*Bajaj consumer* >50% market share in almond hair oil.

*Asian paints* >50% market share in decorative paints.

*Colgate* >50% market share in oral care.

*Symphony* >50% market share in
coolers.

*PGHH* >50% market share female care & vaporub.

*La Opala Rg* >50% market share in opalware.

*HLE Glasscoat* >50% market share in filtration & drying equipment.

*Maruti suzuki* >50% market share in passenger cars.

*APL Apollo* >50% market share in structural & pre galvanized tubes.

*GMM pfaudler* >50% market share in glass lined equipment.

*Marico* >40% market share in hair oil (coconut) & edible oil.

*HUL* >40% market share in soaps, household products.

*Nestle* >40% market share in Instant noodles. >95% in infant nutrition.

*Blue dart* >40% market share in air express courier service.

*VIP* >40% market share in luggage.

*USL* >40% market share in spirits/whisky.

*UBL* >40% market share in beer.

*Sundram fasteners* >40% market share in fasteners.

*Nocil* >40% market share in rubber chemicals.

*Gillette* >40% market share in razors & blades.

*Alkyl Amines* >40% market share in DMAHCL.

*TTK Prestige* >40% market share in pressure cookers.

*Hero Motocorp* >35% market share in 2 wheelers.

*Reliance* >35% market share in telecom.

*Britannia* >35% market share in biscuits.

U.S : US 10-year yield falls below 1.5%, lowest since May 7

COVID OUTBREAK IN CHINA SPARKS FEARS OF TRADE DISRUPTION.

SUDDEN FALL IN MARKET 👇👇

https://www.businesstoday.in/current/world/fresh-covid-outbreak-in-china-rattles-trade-stokes-fears-of-disruption/story/441187.html