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*Very Good Learnings from Today's Market...* 📚

*Discipline is a BIG word in Stock Market.*

It includes many things...
But Few Good Points are mentioned below.:


*1. Always wait for the Right Opportunity for Buy and Sell Stocks.*

*2. Smartly Use / Don't Use Margin Funding Limit or Leverage Money for buying stocks. (Buy with your own Money and Capacity)*

*3. Always know your Risk First, Calculate Loss & then Enter for Trade. Must Remember that Capital Protection is First Priority in Stock Mkt.*
(Plan for the Worst & Expect for Best)

*4. Always have a SL and once SL hit, Just Exit. -- Mainly For FNO Trades. Don't get Emotional. (There will be lots of chances comes in Mkt & You can Re-enter.)*

*5. Once position is in Profit, Always Trail It. No matter how Strong the Co and it's Chart is.*

*6. Never go against the trend. If a share is 7-8-9% up, People start thinking that... How more it will go & SHORT It.!! So, never go against the trend and timely book profit. (Don't be Greedy)*

*7. Always have some Own Rules for Trading and Follow them strictly.*

*8. If have daily target for Profit or Loss in terms of % of Capital and not absolute amount. Be it 1% Profit or Loss of Capital.*
(Points for Daily Trader)

*9. Once daily target is achieved or you get even more profit, Close the screen and don't look at that stock atleast for that Day.*
(Points for Daily Trader)

*10. Even if you lost 1% of capital, close the screen. Do not try to recover, Even if you can. Reason behind this is you are breaking your own rules, because sometimes you can recover but then you will make it a habit of recovering every time and one time will come when your 1% loss will increase to 3-5-7% or more and then revenge trading will lead to more lose. So, follow strict rules. If loss happens then accept it and close the screen.*
(Points for Daily Trader)

*11. Follow only Few selected People & Advisors..* *Don't follow multiple things, it will spoil your Trades.*

*12. Do not Work with any pre-occupied Mind. Pre-occupied mind is the Worst Enemy of a trader.*

*13. Do not Buy in Temptation at Wrong Price.*

*14. Make a Rule to withdraw your Profits regularly.*

*15. Never Ever Do Revenge Trading.*

*16. If you get Jackpot sometimes, withdraw Money and Don't Trade in that Stocks for few days. More money you get will creates problem, Bcoz Over confidence always kills us.*
(For Daily Trader)

*17. Money Management is very important. Do not Put all the Money in to one Trade/Stock.*


There are lots of things.. just mentioned few here.


* I know that... All these are easier to Write but very Tough to Implement sometimes for Me also..
But, One should always Try to Follow it most of the time
Steel sector outlook

Domestic mills hike prices to close the gap with imports

Margin outlook strong, but further hikes unlikely

As was expected, Indian mills have raised flat steel prices in Jun’21 to close the gap with regional prices, which had rallied sharply in the first fortnight of May’21. Prices have been raised by ~INR3,000/t for HRC and ~INR5,000/t for CRC. Average HRC prices for 1QFY22 are ~INR11,000/t (20%) higher QoQ, which implies another record EBITDA quarter for flat steel producers. Domestic HRC, now at INR70,000/t (USD960/t), is still at a discount of ~10% to import parity prices. However, this might be the last of the hikes in India as China’s domestic and export prices have corrected sharply in the last fortnight, posing a risk to regional prices.



Price hikes to further boost margins for steel companies

* Price hikes continue: With domestic steel supplies remaining tight due to higher export bookings and domestic steel prices trading at a sharp discount to import parity, domestic steel mills have hiked flat prices by INR3,000-5,000/t in Jun’21 to INR70,000/t for HRC and INR87,000/t for CRC. As a result, HRC prices are now higher by ~INR14,000/t over Mar’21 exit prices. Average HRC prices for 1QFY22 are higher by ~INR11,000/t (20%) over 4QFY21, which would result in higher margins for flat steel producers.

* Spreads improve further despite a rise in coking coal: Despite the recent surge in coking coal prices to USD177/t CFR India (up 32% MoM), spot HRC spreads are ~INR8,500/t higher than 4QFY21. With rebar prices not being hiked, spreads for the same are ~INR4,000/t lower than 4QFY21. Spot steel spreads for HRC/rebar stand at INR45,200/INR30,700 per tonne.

* Further price hikes unlikely: Domestic HRC, now at INR70,000/t (USD960/t), is still at a discount of ~10% to import parity. We believe this might be the last of the hikes in India as China’s domestic and export prices have corrected sharply in the last fortnight, posing a risk to regional prices.



China export offers decline; pose a risk to regional offers

* China’s domestic steel prices remained volatile in the last fortnight as authorities there took measures to curb speculation in prices. Currently, China spot HRC prices are trading at USD867/t, down 17% from recent peaks (though up 2% WoW).

* In line with our expectation highlighted in our note earlier, China HRC export prices have declined 5% WoW (11% in the last two weeks) to USD945/t.

* With export prices still remaining at a premium of ~9% to domestic HRC prices (USD867/t), there remains further downside risk to export prices as they have historically traded at a premium of ~4% to domestic prices.

* Korea/Japan traders remained inactive in recent trades due to lower offers from China. Korea/Japan offers are currently priced at USD1,055/t, a premium of ~12% to China’s export offer prices, which we believe are unsustainable.

* We expect weakness in China prices to also percolate down to regional prices in coming weeks.
*Live update IPO's GMP:*

Shyam ₹ 130-35
Dodla ₹ 88-92
Sona ₹ 3-4
Kim's ₹ 22 seller
HINDUJA GLOBAL SOLUTIONS: Q4 CONS NET PROFIT 1.31B RUPEES VS 433M (YOY); 754M (QOQ) Q4 REVENUE 15.63B RUPEES VS 12.86B (YOY) CO BOARD RECOMMENDED FINAL DIVIDEND OF 22 RUPEES PER SHARE
VODAFONE IDEA: DOT IS LIKELY TO GIVE ITS NOD IN 1-2 DAYS || FDI CAN BE APPROVED IN 1-2 DAYS TO BRING. THE COMPANY IS LIKELY QIP TO LAUNCH SOON, PLANNING TO ₹ RAISE CR 5000-7000 THROUGH QIP
Institutional volumes higher owing to FTSE & Sensex rebalancing... Tata Steel and SBI card block deal👆
*Indostar Capital Finance Q4FY21 Concall Update*
(Nirmal Bang Securities)

*Outlook: Neutral*

> *Elevated stressed book as on FY21 on top of second covid wave shall keep provisions elevated*
> *Business transformation will take long time (beyond FY23) to translate into higher return ratios*

• Gross NPA (%) came at 4.4% vs QoQ 2.8%. CV GNPA stood at 8.1% vs YoY 6.2%. While Corporate GNPA was nil.
• Net NPA (%) came at 2.1% vs QoQ 1.8%
• Restructured book stands at Rs. 314 Cr (4.7%)
• Total additional Covid-19 provisions carried are Rs 400 cr (4.8%) which are sufficient to handle the adverse impact of second wave.
• Affordable HL yield is at 14%.
• Brookefield now holds 52% stake post fund infusion a year back which has strengthened the co.
• Deep Jaggi has brought in the concept of low cost new branches with the help of digitisation where the break-even happens in 8-9 months.
*Co has made a 5 year aspirational plan from FY22-26*
1. Co aims to build a 100% retail business and wind down the wholesale business. Wholesale book is 22% mix today. It will reduce to 10% mix by FY22 end.
2. Co aims to grow the retail business by 7-8x in the next 5 years. Steady state NIMs should be at 8% in the retail business with 3% ROA and 15-20% ROE.
3. Affordable housing AUM is now at 1k cr. Co aims to grow this business fast by infusing more capital in this subsidiary and targets to reach 5k cr in next 4 years.
4. *Strengthened top management team:* Co has recruited Ravi Kumar as CV Business head who joined in April from Chola (20 yrs); Arvind as Collection Head comes from Aditya Birla & Chola; Deep Jaggi comes from HDB Financial (10 years) and Chola (5 years).
5. Co is building a separate collection vertical.

Share is trading at P/E of 24.6x FY22E EPS & 1.3x trailing P/BV
*PSP Projects Ltd.* | *CMP* Rs. 441 | *M Cap* Rs. 1588 Cr | *52 W H/L* 531/337
(Nirmal Bang Retail Research)
*Result in line with expectation*
Revenue from Operations came at Rs. 500.7 Cr (28.3% QoQ, 9.7% YoY) vs expectation of Rs. 515.1 Cr, QoQ Rs. 390.2 Cr, YoY Rs. 456.4 Cr
EBIDTA came at Rs. 62.1 Cr (32.2% QoQ, 22.8% YoY) vs expectation of Rs. 64.4 Cr, QoQ Rs. 46.9 Cr, YoY Rs. 50.5 Cr
EBITDA Margin came at 12.4% vs expectation of 12.5%, QoQ 12%, YoY 11.1%
Adj. PAT came at Rs. 40.7 Cr vs expectation of Rs. 40.3 Cr, QoQ Rs. 30.7 Cr, YoY Rs. 34.3 Cr
Quarter EPS is Rs. 11.3
Share is trading at P/E of 10.5x FY22E EPS
*Ruchira Papers Ltd.* | *CMP* Rs. 86 | *M Cap* Rs. 209 Cr | *52 W H/L* 89/43
(Nirmal Bang Retail Research)
*Result Improved*
Revenue from Operations came at Rs. 141 Cr (20.5% QoQ, 31.2% YoY) vs QoQ Rs. 117 Cr, YoY Rs. 107.5 Cr
EBIDTA came at Rs. 16.8 Cr (216.1% QoQ, 212.6% YoY) vs QoQ Rs. 5.3 Cr, YoY Rs. 5.4 Cr
EBITDA Margin came at 11.9% vs QoQ 4.5%, YoY 5%
Adj. PAT came at Rs. 9.9 Cr vs QoQ Rs. 0.4 Cr, YoY Rs. 0.6 Cr
Quarter EPS is Rs. 4.1
Share is trading at P/E of 41.5x TTM EPS
*Gujarat Fluorochemicals Ltd.* | *CMP* Rs. 1145 | *M Cap* Rs. 12578 Cr | *52 W H/L* 1199/335
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 840.3 Cr (32.5% QoQ, 32.8% YoY) vs QoQ Rs. 634.2 Cr, YoY Rs. 632.7 Cr
EBIDTA came at Rs. 196.1 Cr (38.3% QoQ, 716.6% YoY) vs QoQ Rs. 141.8 Cr, YoY Rs. 24 Cr
EBITDA Margin came at 23.3% vs QoQ 22.4%, YoY 3.8%
Adj. PAT came at Rs. 110.3 Cr vs QoQ Rs. -480.4 Cr, YoY Rs. 28.5 Cr (Last quarter loss was on account of Tax w/back)
Quarter EPS is Rs. 10
Share is trading at P/E of 26.6x FY22E EPS
*Kokuyo Camlin Ltd.* | *CMP* Rs. 69 | *M Cap* Rs. 688 Cr | *52 W H/L* 75/50
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 132.1 Cr (31% QoQ, -8.5% YoY) vs QoQ Rs. 100.8 Cr, YoY Rs. 144.4 Cr
EBIDTA came at Rs. 11.1 Cr (43.1% QoQ, 72.4% YoY) vs QoQ Rs. 7.7 Cr, YoY Rs. 6.4 Cr
EBITDA Margin came at 8.4% vs QoQ 7.7%, YoY 4.4%
Adj. PAT came at Rs. 5 Cr vs QoQ Rs. 1.3 Cr, YoY Rs. -0.3 Cr
Quarter EPS is Rs. 0.5
Share is trading at P/E of -47x TTM EPS
Dear All,

Nirmal Bang is inviting you to a Zoom webinar.
When: Jun 21, 2021 08:45 AM India
Topic: Morning Market Update

Register in advance for this webinar:
https://us02web.zoom.us/webinar/register/WN_25kDCGcfQXqA20Zz9L7P9A


After registering, you will receive a confirmation email containing information about joining the webinar.
Market Wizard
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*News Update*:

TRAI Releases March Subscribers Data. In March

Airtel Added 40,55,109

VodafoneIdea added 10,88,792

While Reliance Jio added 79, 18,129 subscribers.
*Fintechs are becoming Banks faster than Banks are becoming Fintechs*