*Good Morning & Welcome to Tuesday’s trading action at Dalal Street dated 22nd of June 2021.*
Overnight at Wall Street, all the broader indexes roared ahead despite no new major developments over the weekend.
Taking backseat are negative catalysts that were triggered by the Federal Reserve that it could boost interest rates and begin tapering asset purchases sooner than expected.
Live
The best part of this bullish market is that investors are not reacting to any terrible news in any negative manner for more than one day.
*7 AM GLOBAL UPDATE*
• SGX Nifty (+65, 15791)
• DOW (+586, 33877)
• NASDAQ (+111, 14141)
• BRAZIL BOVESPA (+860, 129265)
• Nikkei (+545, 28556)
• HANG SENG (+86, 28575)
*OUTLOOK & INSIGHTS:*
• Global: Positive.
• FII: Negative (-1244.71 Cr)
• DII: Positive (+138.09 Cr)
• F&O: 15500-16200 zone
• Trend: Up
• Sentiment: Positive
• Technicals: Overbought
• Theme: Nifty 16000.
*All ABOUT NIFTY & BANK NIFTY*
*NIFTY (CMP 15746):*
• SUPPORT: 15697/15459
• RESISTANCE: 15907/16101
• RANGE: 15691-15907
• BIAS: Positive.
*BANK NIFTY (CMP 34871):*
• SUPPORT: 33769/32511
• RESISTANCE: 35811/37709
• RANGE: 34251-36251
• BIAS: Positive.
*THEME OF THE DAY:*
• Energy (+4.3%) was the clear leader in overnight trade at Wall Street, fueled by a 2.8% surge in U.S. crude oil futures, to $73.66 per barrel. The talk on the street is that oil could hit $100 per barrel in 2022.
• All eyes on Nifty 16000 mark.
• *Preferred trade on Nifty (15747):* Buy between 15650-15700 zone. Targets at 15901/16001 and then at 16251 mark with strict stop at 15497.
• *Preferred trade on Bank Nifty (34871):* Buy at CMP. Targets at 35811 and then aggressive targets at 37709 mark with stop at 33731.
• Our *chart of the day* is bullish on stocks like VEDANTA, TATA STEEL and GRASIM.
• *SHOW ME THE MONEY:* Momentum Call: Buy TATA STEEL JUNE Futures for 0-3 days at CMP 1107 for an objective of 1171. Stop 1067. Alert: Rebound Play.
• *Q4 earnings to trickle in today:* NMDC, RELIGARE, AVANTI FEEDS, BEL.
*Disclaimer:* Our subscribers/clients may have positions in the stocks recommended in this note. Please note that the actual subscribers may receive additional information in real time not available to the viewers of this note. This does not construe to be an investment advice. Stock market investments are subject to market risks. No content on this blog should be construed to be investment advice. You should consult a qualified financial advisor prior to making any actual investment or trading decisions. All information is a point of view, and is for educational and informational use only. The author accepts no liability for any interpretation of articles or comments on this blog being used for actual investments. While we may talk about strategies or positions in the market, our intent is solely to showcase effective risk-management in dealing with financial instruments. This is purely an information service and any trading done on the basis of this information is at your own, sole risk.
Overnight at Wall Street, all the broader indexes roared ahead despite no new major developments over the weekend.
Taking backseat are negative catalysts that were triggered by the Federal Reserve that it could boost interest rates and begin tapering asset purchases sooner than expected.
Live
The best part of this bullish market is that investors are not reacting to any terrible news in any negative manner for more than one day.
*7 AM GLOBAL UPDATE*
• SGX Nifty (+65, 15791)
• DOW (+586, 33877)
• NASDAQ (+111, 14141)
• BRAZIL BOVESPA (+860, 129265)
• Nikkei (+545, 28556)
• HANG SENG (+86, 28575)
*OUTLOOK & INSIGHTS:*
• Global: Positive.
• FII: Negative (-1244.71 Cr)
• DII: Positive (+138.09 Cr)
• F&O: 15500-16200 zone
• Trend: Up
• Sentiment: Positive
• Technicals: Overbought
• Theme: Nifty 16000.
*All ABOUT NIFTY & BANK NIFTY*
*NIFTY (CMP 15746):*
• SUPPORT: 15697/15459
• RESISTANCE: 15907/16101
• RANGE: 15691-15907
• BIAS: Positive.
*BANK NIFTY (CMP 34871):*
• SUPPORT: 33769/32511
• RESISTANCE: 35811/37709
• RANGE: 34251-36251
• BIAS: Positive.
*THEME OF THE DAY:*
• Energy (+4.3%) was the clear leader in overnight trade at Wall Street, fueled by a 2.8% surge in U.S. crude oil futures, to $73.66 per barrel. The talk on the street is that oil could hit $100 per barrel in 2022.
• All eyes on Nifty 16000 mark.
• *Preferred trade on Nifty (15747):* Buy between 15650-15700 zone. Targets at 15901/16001 and then at 16251 mark with strict stop at 15497.
• *Preferred trade on Bank Nifty (34871):* Buy at CMP. Targets at 35811 and then aggressive targets at 37709 mark with stop at 33731.
• Our *chart of the day* is bullish on stocks like VEDANTA, TATA STEEL and GRASIM.
• *SHOW ME THE MONEY:* Momentum Call: Buy TATA STEEL JUNE Futures for 0-3 days at CMP 1107 for an objective of 1171. Stop 1067. Alert: Rebound Play.
• *Q4 earnings to trickle in today:* NMDC, RELIGARE, AVANTI FEEDS, BEL.
*Disclaimer:* Our subscribers/clients may have positions in the stocks recommended in this note. Please note that the actual subscribers may receive additional information in real time not available to the viewers of this note. This does not construe to be an investment advice. Stock market investments are subject to market risks. No content on this blog should be construed to be investment advice. You should consult a qualified financial advisor prior to making any actual investment or trading decisions. All information is a point of view, and is for educational and informational use only. The author accepts no liability for any interpretation of articles or comments on this blog being used for actual investments. While we may talk about strategies or positions in the market, our intent is solely to showcase effective risk-management in dealing with financial instruments. This is purely an information service and any trading done on the basis of this information is at your own, sole risk.
*CALCULUS DERIVATIVES CORNER*
8 AM.
*Market Summary:*
• Nifty June Futures ended Monday’s session at a premium of +02 vs premium of +45 in its previous trading session.
• The 24th June expiry Put-Call Open Interest Ratio was at 1.09 for Nifty whereas it was 1.09 for Bank Nifty.
• The 24th June expiry Put-Call Volume Ratio was at 0.90 for the Nifty and 0.95 for Bank Nifty.
• For Nifty, Maximum Call Open Interest (OI) stands at 16000 Strike Price, followed by 15800 Strike Price for 24th June Series. Long buildup was seen at strike prices 15400-15600.
• Maximum Put Open Interest (OI) was seen at strike price 15000 followed by 15500 strike prices for 24th June series. Short buildup was seen at strike prices 15300-15900.
• For Bank Nifty, Maximum Call Open Interest (OI) stands at 35000 Strike Price and Maximum Put Open Interest stands at 32000 Strike Price.
• As per Monday’s Provisional Data available on the NSE, FIIs sold shares worth Rs. 1244.71 crores in the Indian Equity Market. DIIs on the other hand bought shares worth Rs. 138.09 crores in the Indian Equity market.
• Long Buildup: SAIL, SBIN, NMDC, TATASTEEL.
• Short Buildup: TATAMOTORS, UPL, JUBLFOOD.
• Short Covering: FEDERALBANK, JSWSTEEL, AMBUJACEM, DLF.
• Long Unwinding: TCS, L&T, GODREJCP, VOLTAS.
• Stocks banned in F&O segment: IDEA, SUNTV.
• New in Ban: IDEA.
• Out of Ban: ADANIPORTS, BHEL, PNB.
8 AM.
*Market Summary:*
• Nifty June Futures ended Monday’s session at a premium of +02 vs premium of +45 in its previous trading session.
• The 24th June expiry Put-Call Open Interest Ratio was at 1.09 for Nifty whereas it was 1.09 for Bank Nifty.
• The 24th June expiry Put-Call Volume Ratio was at 0.90 for the Nifty and 0.95 for Bank Nifty.
• For Nifty, Maximum Call Open Interest (OI) stands at 16000 Strike Price, followed by 15800 Strike Price for 24th June Series. Long buildup was seen at strike prices 15400-15600.
• Maximum Put Open Interest (OI) was seen at strike price 15000 followed by 15500 strike prices for 24th June series. Short buildup was seen at strike prices 15300-15900.
• For Bank Nifty, Maximum Call Open Interest (OI) stands at 35000 Strike Price and Maximum Put Open Interest stands at 32000 Strike Price.
• As per Monday’s Provisional Data available on the NSE, FIIs sold shares worth Rs. 1244.71 crores in the Indian Equity Market. DIIs on the other hand bought shares worth Rs. 138.09 crores in the Indian Equity market.
• Long Buildup: SAIL, SBIN, NMDC, TATASTEEL.
• Short Buildup: TATAMOTORS, UPL, JUBLFOOD.
• Short Covering: FEDERALBANK, JSWSTEEL, AMBUJACEM, DLF.
• Long Unwinding: TCS, L&T, GODREJCP, VOLTAS.
• Stocks banned in F&O segment: IDEA, SUNTV.
• New in Ban: IDEA.
• Out of Ban: ADANIPORTS, BHEL, PNB.
IPO Allotment Link
Shyam Metalics and Energy Limited
https://kosmic.kfintech.com/ipostatus/
Dodla Dairy Limited
https://kosmic.kfintech.com/ipostatus/
Krishna Institute of Medical Sciences Limited
https://linkintime.co.in/IPO/public-issues.html
Sona BLW Precision Forgings Limited
https://kosmic.kfintech.com/ipostatus/
India Pesticides Limited
https://kosmic.kfintech.com/ipostatus/
Shyam Metalics and Energy Limited
https://kosmic.kfintech.com/ipostatus/
Dodla Dairy Limited
https://kosmic.kfintech.com/ipostatus/
Krishna Institute of Medical Sciences Limited
https://linkintime.co.in/IPO/public-issues.html
Sona BLW Precision Forgings Limited
https://kosmic.kfintech.com/ipostatus/
India Pesticides Limited
https://kosmic.kfintech.com/ipostatus/
Stocks in News
Jaiprakash Associates: The company reported lower consolidated profit at Rs 424.41 crore in Q4FY21 against Rs 3,068.10 crore in Q4FY20, revenue rose to Rs 2,517.2 crore from Rs 1,876.03 crore YoY.
PG Electroplast: The company approved Rs 76.6 crore incoming investment from Baring Private Equity India, Ananta Capital and others.
State Bank of India: The Central Board of the bank accorded approval for raising fresh Additional Tier 1 (AT 1 ) capital up to an amount of Rs 14,000 crore subject to Government of India concurrence.
VST Tillers Tractors: The company reported profit at Rs 12.93 crore in Q4FY21 against loss of Rs 3.38 crore in Q4FY20, revenue rose to Rs 194.74 crore from Rs 119.80 crore YoY.
Dish TV India: The board approved the raising of funds up to Rs 1,000 crore through rights issue, at a price of Rs 10.
KPIT Technologies: The company signed a definitive agreement to acquire a controlling stake in PathPartner Technology.
Jaiprakash Associates: The company reported lower consolidated profit at Rs 424.41 crore in Q4FY21 against Rs 3,068.10 crore in Q4FY20, revenue rose to Rs 2,517.2 crore from Rs 1,876.03 crore YoY.
PG Electroplast: The company approved Rs 76.6 crore incoming investment from Baring Private Equity India, Ananta Capital and others.
State Bank of India: The Central Board of the bank accorded approval for raising fresh Additional Tier 1 (AT 1 ) capital up to an amount of Rs 14,000 crore subject to Government of India concurrence.
VST Tillers Tractors: The company reported profit at Rs 12.93 crore in Q4FY21 against loss of Rs 3.38 crore in Q4FY20, revenue rose to Rs 194.74 crore from Rs 119.80 crore YoY.
Dish TV India: The board approved the raising of funds up to Rs 1,000 crore through rights issue, at a price of Rs 10.
KPIT Technologies: The company signed a definitive agreement to acquire a controlling stake in PathPartner Technology.
*SERNET Midnight News Update – Jun 22nd 2021*
IIFL Home Finance proposes to raise a sum of Rs.5,000 crore to give a leg up to its lending business. The fund raising will be done through the issue of NCDs. The draft prospectus for the bond issue has already been filed with the exchanges. The face value of each NCD will be Rs.1,000 and the amount is likely to spread over a number of tranches. The company has a comfortable CRAR Tier-1 capital ratio of 19.6%. The focus of the company is to provide home loans to first-time home buyers in lower income segments.
The central board of SBI approved the raising of Rs.14,000 crore through the issue of Basel-III compliant bonds, likely to be denominated either in INR or USD. This pertains to the fiscal year FY22. This will help to further spruce up the Tier-1 capital of SBI. Many rating agencies in the recent past have raised some concerns over the potential stress in the balance sheet of banks due to deteriorating asset quality and its impact on performance and profitability. SBI had reported smart top line and bottom line growth in Q4.
Securities Appellate Tribunal or SAT has allowed PNB Housing to go ahead with its scheduled EGM on Tuesday. While PNB Housing can go ahead with its voting on the Rs.4,000 crore capital infusion by Carlyle, the court has instructed PNB Housing not to disclose the voting result on the resolution until further directions. Even NSDL must keep the voting pattern confidential. The matter comes up for hearing on 05 July when the SAT will announce its decision on the need for a valuation report by a registered valuer.
According to a report by Goldman Sachs, Reliance Industries had the potential to show 10X growth in pre-tax profits from the retail business in the coming decade. Goldman was emphatic that retail, driven by ecommerce, would be the big growth engine for RIL in the coming years. Goldman sees a 6-fold increase in the penetration of organized retail by FY30 with 15% market share gain for RIL. Goldman estimates RIL to have 50% share of online grocery by FY25, translating into GMV of $35 billion. EBITDA could grow 10X.
Maruti Suzuki will hike prices of its cars in the second quarter of the current fiscal to compensate for the sharp spike in input costs. The sharp spike in metals and alloys and most auto related inputs, including chips, has resulted in a sharp spike in cost of production. However, Maruti has been silent about the actual quantum of price hike. Maruti is India’s largest passenger car franchise and sells a range of models ranging from the entry-level hatchback Alto to S-CROSS with a price spectrum ranging from Rs.3 lakh to Rs.13 lakh.
Centrum rallied 16% to Rs.58.50 after Centrum Financial Services received an in-principle approval from RBI to set up a Small Finance Bank or SFB. This is a pre-condition for Centrum to take over the operations of PMC Bank. One of the major investors in Centrum Capital is former Standard Chartered Bank India head, Jaspreet Bindra. Centrum Financial, along with Bharat Pe, will infuse Rs.1,800 crore into the SFB to start operations. This deal will bring much needed relief to the beleaguered deposit holders of PMC Bank.
Shares of Bandhan Bank continued its rally and surged another 7% to Rs 338 after the Assam government signed an agreement with MFIs to regularise stressed borrowers and repay entire loans of highly stressed borrowers. The Assam government will also incentivize prompt repayments with incentives. This package will cost the Assam government Rs.8.250 crore. This is likely to be a big positive for Bandhan Bank, which has its biggest MFI network in the states of Assam and West Bengal. This will also protect asset quality.
Monday was a bullish day for Adani stocks after the sharp correction last week. Adani Ports rallied 7% while Adani Total Gas, Adani Power and Adani Transmission hit 5% upper circuit. The incubation company, Adani Enterprises, was up 6% on Monday.
IIFL Home Finance proposes to raise a sum of Rs.5,000 crore to give a leg up to its lending business. The fund raising will be done through the issue of NCDs. The draft prospectus for the bond issue has already been filed with the exchanges. The face value of each NCD will be Rs.1,000 and the amount is likely to spread over a number of tranches. The company has a comfortable CRAR Tier-1 capital ratio of 19.6%. The focus of the company is to provide home loans to first-time home buyers in lower income segments.
The central board of SBI approved the raising of Rs.14,000 crore through the issue of Basel-III compliant bonds, likely to be denominated either in INR or USD. This pertains to the fiscal year FY22. This will help to further spruce up the Tier-1 capital of SBI. Many rating agencies in the recent past have raised some concerns over the potential stress in the balance sheet of banks due to deteriorating asset quality and its impact on performance and profitability. SBI had reported smart top line and bottom line growth in Q4.
Securities Appellate Tribunal or SAT has allowed PNB Housing to go ahead with its scheduled EGM on Tuesday. While PNB Housing can go ahead with its voting on the Rs.4,000 crore capital infusion by Carlyle, the court has instructed PNB Housing not to disclose the voting result on the resolution until further directions. Even NSDL must keep the voting pattern confidential. The matter comes up for hearing on 05 July when the SAT will announce its decision on the need for a valuation report by a registered valuer.
According to a report by Goldman Sachs, Reliance Industries had the potential to show 10X growth in pre-tax profits from the retail business in the coming decade. Goldman was emphatic that retail, driven by ecommerce, would be the big growth engine for RIL in the coming years. Goldman sees a 6-fold increase in the penetration of organized retail by FY30 with 15% market share gain for RIL. Goldman estimates RIL to have 50% share of online grocery by FY25, translating into GMV of $35 billion. EBITDA could grow 10X.
Maruti Suzuki will hike prices of its cars in the second quarter of the current fiscal to compensate for the sharp spike in input costs. The sharp spike in metals and alloys and most auto related inputs, including chips, has resulted in a sharp spike in cost of production. However, Maruti has been silent about the actual quantum of price hike. Maruti is India’s largest passenger car franchise and sells a range of models ranging from the entry-level hatchback Alto to S-CROSS with a price spectrum ranging from Rs.3 lakh to Rs.13 lakh.
Centrum rallied 16% to Rs.58.50 after Centrum Financial Services received an in-principle approval from RBI to set up a Small Finance Bank or SFB. This is a pre-condition for Centrum to take over the operations of PMC Bank. One of the major investors in Centrum Capital is former Standard Chartered Bank India head, Jaspreet Bindra. Centrum Financial, along with Bharat Pe, will infuse Rs.1,800 crore into the SFB to start operations. This deal will bring much needed relief to the beleaguered deposit holders of PMC Bank.
Shares of Bandhan Bank continued its rally and surged another 7% to Rs 338 after the Assam government signed an agreement with MFIs to regularise stressed borrowers and repay entire loans of highly stressed borrowers. The Assam government will also incentivize prompt repayments with incentives. This package will cost the Assam government Rs.8.250 crore. This is likely to be a big positive for Bandhan Bank, which has its biggest MFI network in the states of Assam and West Bengal. This will also protect asset quality.
Monday was a bullish day for Adani stocks after the sharp correction last week. Adani Ports rallied 7% while Adani Total Gas, Adani Power and Adani Transmission hit 5% upper circuit. The incubation company, Adani Enterprises, was up 6% on Monday.
The markets took some comfort from a promoter group company infusing Rs.1,100 crore into buying stakes in the companies. Last week saw Adani group shares losing $13 billion in value after NSDL froze demat accounts of key FPIs with large exposure to Adani group.
Moneycontrol.com: Don't invest in the US, Indian market in a long bull run: Rakesh Jhunjhunwala.
https://www.moneycontrol.com/news/business/markets/dont-invest-in-the-us-indian-market-in-a-long-bull-run-rakesh-jhunjhunwala-7063961.html
https://www.moneycontrol.com/news/business/markets/dont-invest-in-the-us-indian-market-in-a-long-bull-run-rakesh-jhunjhunwala-7063961.html
*Shyam Metalic ipo*
Allotment : 21/06/21
Listing : 24/06/21
GMP :129-132
*Dodla Dairy ipo*
Allotment : 23/06/21
Listing : 28/06/21
GMP : 88-92
*Krishna Hospital ipo*
Allotment : 23/06/21
Listing : 28/06/21
GMP : 22-25
*Sona Comstar ipo*
Allotment : 21/06/21
Listing : 24/06/21
GMP : 3-4
*INDIA PESTICIDES*
Listing : 5/7/21
GMP : 88-92
Allotment : 21/06/21
Listing : 24/06/21
GMP :129-132
*Dodla Dairy ipo*
Allotment : 23/06/21
Listing : 28/06/21
GMP : 88-92
*Krishna Hospital ipo*
Allotment : 23/06/21
Listing : 28/06/21
GMP : 22-25
*Sona Comstar ipo*
Allotment : 21/06/21
Listing : 24/06/21
GMP : 3-4
*INDIA PESTICIDES*
Listing : 5/7/21
GMP : 88-92
*FIIS FIGS FOR: 21.06.2021*
(-)478 INDEX FUTS
(-)1734 INDEX OPT
(+)74 STOCK FUTS
(+)451 STOCK OPT
*NET FIIS FNO FIGS*
(+)1781
*PROVISIONAL CASH FIGS*
(-)1245 FIIS
(+)138 DIIS
*INDEX TODAY*
BSE +230 (52574)
NSE +63 (15747)
(-)478 INDEX FUTS
(-)1734 INDEX OPT
(+)74 STOCK FUTS
(+)451 STOCK OPT
*NET FIIS FNO FIGS*
(+)1781
*PROVISIONAL CASH FIGS*
(-)1245 FIIS
(+)138 DIIS
*INDEX TODAY*
BSE +230 (52574)
NSE +63 (15747)
Ashika Result Highlights
Info Edge (India) Ltd.: Net Revenue at Rs. 296.5 crore, Rs. 327.6 crore YoY, Rs. 277.6 crore QoQ (-9.5% YoY, +6.8% QoQ). EBITDA at Rs. 52.1 crore, Rs. 91.6 crore YoY, Rs. 67.2 crore QoQ (-43.1% YoY, -22.5% QoQ). EBITDA Margin at 17.6%, -1040 bps YoY and -663 bps QoQ. Net Profit at Rs. 308.1 crore, Rs. 119.1 crore YoY, Rs. 679.0 crore QoQ (+158.7% YoY, -54.6% QoQ).
Oil India Ltd.: Net Revenue at Rs. 6504.9 crore, Rs. 4540.4 crore YoY, Rs. 6330.0 crore QoQ (+43.3% YoY, +2.8% QoQ). EBITDA at Rs. 1886.9 crore, Rs. -12.7 crore YoY, Rs. 1160.8 crore QoQ. EBITDA Margin at 29%, +2929 bps YoY and +1067 bps QoQ. Net Profit at Rs. 1142.4 crore, Rs. 1729.4 crore YoY, Rs. 1567.9 crore QoQ (-33.9% YoY, -27.1% QoQ). Ashika
Bharat Dynamics Ltd.: Net Revenue at Rs. 1136.9 crore, Rs. 1439.4 crore YoY, Rs. 459.3 crore QoQ (-21% YoY, +147.5% QoQ). EBITDA at Rs. 344.3 crore, Rs. 414.1 crore YoY, Rs. 39.7 crore QoQ (-16.8% YoY, +766.5% QoQ). EBITDA Margin at 30.3%, +152 bps YoY and +2164 bps QoQ. Net Profit at Rs. 260.4 crore, Rs. 309.7 crore YoY, Rs. 49.2 crore QoQ (-15.9% YoY, +429.3% QoQ).
TCNS Clothing Co Ltd.: Net Revenue at Rs. 221.1 crore, Rs. 219.2 crore YoY, Rs. 237.9 crore QoQ (+0.9% YoY, -7.1% QoQ). EBITDA at Rs. 22.9 crore, Rs. -4.8 crore YoY, Rs. 38.5 crore QoQ. EBITDA Margin at 10.4%, +1257 bps YoY and +-579 bps QoQ. Net Profit at Rs. 3.9 crore, Rs. -23.8 crore YoY, Rs. 12.7 crore QoQ.
Jaiprakash Associates Ltd.: Net Revenue at Rs. 2517.2 crore, Rs. 1876.0 crore YoY, Rs. 1440.4 crore QoQ (+34.2% YoY, +74.8% QoQ). EBITDA at Rs. 691.6 crore, Rs. 123.0 crore YoY, Rs. 74.2 crore QoQ (+462.2% YoY, +831.8% QoQ). EBITDA Margin at 27.5%, +2092 bps YoY and +2232 bps QoQ. Net Profit at Rs. 424.4 crore, Rs. 3068.3 crore YoY, Rs. -302.1 crore QoQ. Ashika
MM Forgings Ltd.: Net Revenue at Rs. 285.8 crore, Rs. 168.5 crore YoY, Rs. 222.9 crore QoQ (+69.6% YoY, +28.2% QoQ). EBITDA at Rs. 56.5 crore, Rs. 33.2 crore YoY, Rs. 39.9 crore QoQ (+70% YoY, +41.5% QoQ). EBITDA Margin at 19.8%, +4 bps YoY and +185 bps QoQ. Net Profit at Rs. 30.1 crore, Rs. 6.5 crore YoY, Rs. 15.3 crore QoQ (+360.9% YoY, +96.5% QoQ).
HBL Power Systems Ltd.: Net Revenue at Rs. 299.8 crore, Rs. 262.8 crore YoY, Rs. 233.2 crore QoQ (+14.1% YoY, +28.5% QoQ). EBITDA at Rs. 24.4 crore, Rs. 22.3 crore YoY, Rs. 20.6 crore QoQ (+9.3% YoY, +18.4% QoQ). EBITDA Margin at 8.1%, -36 bps YoY and -69 bps QoQ. Net Profit at Rs. 10.2 crore, Rs. 9.3 crore YoY, Rs. 8.2 crore QoQ (+8.7% YoY, +24.1% QoQ). Ashika
Info Edge (India) Ltd.: Net Revenue at Rs. 296.5 crore, Rs. 327.6 crore YoY, Rs. 277.6 crore QoQ (-9.5% YoY, +6.8% QoQ). EBITDA at Rs. 52.1 crore, Rs. 91.6 crore YoY, Rs. 67.2 crore QoQ (-43.1% YoY, -22.5% QoQ). EBITDA Margin at 17.6%, -1040 bps YoY and -663 bps QoQ. Net Profit at Rs. 308.1 crore, Rs. 119.1 crore YoY, Rs. 679.0 crore QoQ (+158.7% YoY, -54.6% QoQ).
Oil India Ltd.: Net Revenue at Rs. 6504.9 crore, Rs. 4540.4 crore YoY, Rs. 6330.0 crore QoQ (+43.3% YoY, +2.8% QoQ). EBITDA at Rs. 1886.9 crore, Rs. -12.7 crore YoY, Rs. 1160.8 crore QoQ. EBITDA Margin at 29%, +2929 bps YoY and +1067 bps QoQ. Net Profit at Rs. 1142.4 crore, Rs. 1729.4 crore YoY, Rs. 1567.9 crore QoQ (-33.9% YoY, -27.1% QoQ). Ashika
Bharat Dynamics Ltd.: Net Revenue at Rs. 1136.9 crore, Rs. 1439.4 crore YoY, Rs. 459.3 crore QoQ (-21% YoY, +147.5% QoQ). EBITDA at Rs. 344.3 crore, Rs. 414.1 crore YoY, Rs. 39.7 crore QoQ (-16.8% YoY, +766.5% QoQ). EBITDA Margin at 30.3%, +152 bps YoY and +2164 bps QoQ. Net Profit at Rs. 260.4 crore, Rs. 309.7 crore YoY, Rs. 49.2 crore QoQ (-15.9% YoY, +429.3% QoQ).
TCNS Clothing Co Ltd.: Net Revenue at Rs. 221.1 crore, Rs. 219.2 crore YoY, Rs. 237.9 crore QoQ (+0.9% YoY, -7.1% QoQ). EBITDA at Rs. 22.9 crore, Rs. -4.8 crore YoY, Rs. 38.5 crore QoQ. EBITDA Margin at 10.4%, +1257 bps YoY and +-579 bps QoQ. Net Profit at Rs. 3.9 crore, Rs. -23.8 crore YoY, Rs. 12.7 crore QoQ.
Jaiprakash Associates Ltd.: Net Revenue at Rs. 2517.2 crore, Rs. 1876.0 crore YoY, Rs. 1440.4 crore QoQ (+34.2% YoY, +74.8% QoQ). EBITDA at Rs. 691.6 crore, Rs. 123.0 crore YoY, Rs. 74.2 crore QoQ (+462.2% YoY, +831.8% QoQ). EBITDA Margin at 27.5%, +2092 bps YoY and +2232 bps QoQ. Net Profit at Rs. 424.4 crore, Rs. 3068.3 crore YoY, Rs. -302.1 crore QoQ. Ashika
MM Forgings Ltd.: Net Revenue at Rs. 285.8 crore, Rs. 168.5 crore YoY, Rs. 222.9 crore QoQ (+69.6% YoY, +28.2% QoQ). EBITDA at Rs. 56.5 crore, Rs. 33.2 crore YoY, Rs. 39.9 crore QoQ (+70% YoY, +41.5% QoQ). EBITDA Margin at 19.8%, +4 bps YoY and +185 bps QoQ. Net Profit at Rs. 30.1 crore, Rs. 6.5 crore YoY, Rs. 15.3 crore QoQ (+360.9% YoY, +96.5% QoQ).
HBL Power Systems Ltd.: Net Revenue at Rs. 299.8 crore, Rs. 262.8 crore YoY, Rs. 233.2 crore QoQ (+14.1% YoY, +28.5% QoQ). EBITDA at Rs. 24.4 crore, Rs. 22.3 crore YoY, Rs. 20.6 crore QoQ (+9.3% YoY, +18.4% QoQ). EBITDA Margin at 8.1%, -36 bps YoY and -69 bps QoQ. Net Profit at Rs. 10.2 crore, Rs. 9.3 crore YoY, Rs. 8.2 crore QoQ (+8.7% YoY, +24.1% QoQ). Ashika
Japan’s Nikkei 225 jumps nearly 2.3% as Asia-Pacific stocks rise following overnight Dow bounce
https://www.cnbc.com/2021/06/22/asia-markets-dow-jones-industrial-average-bounce-currencies-oil.html
https://www.cnbc.com/2021/06/22/asia-markets-dow-jones-industrial-average-bounce-currencies-oil.html
CNBC
Japan's Nikkei 225 jumps more than 3% as Asia-Pacific stocks bounce back
Japanese stocks led gains among major Asia-Pacific markets on Tuesday, with the Nikkei 225 jumping more than 3% on the day.
Crude Oil Trades at Fresh Multi-Year Peaks
Crude oil prices were little changed in early APAC trade Tuesday, following gains of nearly 2% in the previous session that saw prices hitting fresh multi-year highs, with investors digesting prospects of a robust demand as economies reopen and travel accelerates in the US, Europe and China. Meanwhile, traders also await the outcome of Iran nuclear talks on June 10th. The deal could lead to an increase Iran's crude production of 500,000 barrels, however, analysts don't expect an agreement before the Iranian presidential election next week. Meanwhile, OPEC+ expects oil inventories to fall further in the coming months, OPEC's secretary general said on Monday. Last week, OPEC+ agreed to gradually ease supply curbs through July. On Monday, Brent crude gained $1.39, or 1.9% to settle at $74.90 a barrel, the highest since April 2019. WTI crude for July gained $2.02, or 2.8%, to end at $73.66, the highest since October 2018.
Crude oil prices were little changed in early APAC trade Tuesday, following gains of nearly 2% in the previous session that saw prices hitting fresh multi-year highs, with investors digesting prospects of a robust demand as economies reopen and travel accelerates in the US, Europe and China. Meanwhile, traders also await the outcome of Iran nuclear talks on June 10th. The deal could lead to an increase Iran's crude production of 500,000 barrels, however, analysts don't expect an agreement before the Iranian presidential election next week. Meanwhile, OPEC+ expects oil inventories to fall further in the coming months, OPEC's secretary general said on Monday. Last week, OPEC+ agreed to gradually ease supply curbs through July. On Monday, Brent crude gained $1.39, or 1.9% to settle at $74.90 a barrel, the highest since April 2019. WTI crude for July gained $2.02, or 2.8%, to end at $73.66, the highest since October 2018.
*JUNE Rollovers E -3*
- Market wide: 34% (3M avg 37%)
- NIFTY: 26% (3M avg 29%)
- BANKNIFTY: 32% (3M avg 35%)
- Avg Roll Cost: 55-57bps
*Top Sector Rollovers*: Cement (50%), Metals (46%), Telecom (44%), Media (40%), Autos (38%)
*Strong Rollovers*: SAIL (69%), SUNTV (67%), JSTL (67%), GRASIM (64%), AMRJ (58%), CBK (57%), CDH (55%), ACEM (53%), IOC (52%), HMCL (51%)
*Weak Rollovers*: CIPLA (16%), TRP (16%), MAXF (17%), BRGR (19%), BHEL (19%), HDFC (19%), ICICIBC (19%), PIEL (19%), AXSB (20%), HUVR (21%)
*Roll cost expansion*: PNB (151 bps), NTPC (58bps), ADSEZ (68bps), CBK (64bps), IDEA (82bps)
*Roll cost contraction*: PIEL (45bps), BJFIN (34bps), GMRI (17bps), BHEL (55bps), MGFL (49bps)
*Investec Sales Trading*
- Market wide: 34% (3M avg 37%)
- NIFTY: 26% (3M avg 29%)
- BANKNIFTY: 32% (3M avg 35%)
- Avg Roll Cost: 55-57bps
*Top Sector Rollovers*: Cement (50%), Metals (46%), Telecom (44%), Media (40%), Autos (38%)
*Strong Rollovers*: SAIL (69%), SUNTV (67%), JSTL (67%), GRASIM (64%), AMRJ (58%), CBK (57%), CDH (55%), ACEM (53%), IOC (52%), HMCL (51%)
*Weak Rollovers*: CIPLA (16%), TRP (16%), MAXF (17%), BRGR (19%), BHEL (19%), HDFC (19%), ICICIBC (19%), PIEL (19%), AXSB (20%), HUVR (21%)
*Roll cost expansion*: PNB (151 bps), NTPC (58bps), ADSEZ (68bps), CBK (64bps), IDEA (82bps)
*Roll cost contraction*: PIEL (45bps), BJFIN (34bps), GMRI (17bps), BHEL (55bps), MGFL (49bps)
*Investec Sales Trading*
*With growth prospects improving, more steam left in NTPC stock*
The power generator's growth prospects are improving and capacity expansions provide medium-term visibility
NTPC, India’s premier power generator, had a strong fourth quarter. Revenues from operations fell 0.9 per cent to Rs 30,102 crore from Rs 30,390 crore a year ago. But PAT surged to Rs 4,649 crore from Rs 1,630 crore. This was due to a tax refund of Rs 968 crore versus tax paid of Rs 4,958 crore YoY.
Consolidated revenue from operations in FY21 was up 1.8 per cent YoY to Rs 1,11,531 crore from Rs 1,09,464 crore. PAT for the FY21 was up 25.8 per cent to Rs 14,969 crore versus Rs 11,902 crore. Tax paid declined 74 per cent to Rs 2,420 crore from Rs 9,347 crore in the previous fiscal. Depreciation and amortisation rose to Rs 12,450 crore from Rs 10,356 crore YoY.
Among other ratios, FY21 EPS almost doubled to Rs 12.93 from Rs 6.8 a year ago –a buyback slightly reduced the equity base. The debt:equity ratio was stable at 1.55 while the debt service cover rose slightly to 2x from 1.97x.
The cash flow statement indicates NTPC invested Rs 23,312 crore in new plants and other assets in FY21 compared to the previous fiscal when it invested Rs 18,230 crore in such assets and also Rs 11,500 crore in acquisition of NEEPCO and THDCIL.
Unit power sales rose 4.8 per cent to 251.7 billion units of electricity (290 BU taking subsidiaries into consideration). This is excellent, given that Q1FY21 was almost a washout due to the lockdown and the GDP contracted through the fiscal. Utilisation levels of coal-based plants dropped, with plant load factor (PLF) down to 66 per cent from 68.2 per cent YoY. The average tariff was Rs 3.77/unit, a YoY drop of 3.3 per cent. Payment was eased by the bailout of discoms which enabled faster payment of dues. Receivables dropped by Rs 1,400 crore as a result.
The total installed capacity is now 65,825 MW and it intends to expand this to 1,30,000 MW by 2032 with 30 per cent of the total being non-thermal. This breaks up as 32,000 MW renewables, 5,000 MW hydro, and another 2,000 MW nuclear. The action plan involves capital expenditure of over Rs 1 trillion for 2019-2024.
The renewables target has been almost doubled, to 60 GW by 2032 (earlier: 32GW). This implies adding 5–5.5 GW per annum. NTPC has also ramped up production of captive coal. The estimated financing cost of loans for the solar arm is 6.5 per cent. But while lower financing costs are a plus, competition is also pushing solar tariff bids lower.
Analysts believe there could be 12 per cent growth in regulated return on equity tariffs over the next two fiscals. Coal prices have risen globally in the last five months, and further rise is likely. NTPC has some protection due to its captive production.
Growth should accelerate in this fiscal since GDP is expected to grow after 2020-21 contraction. Discom insolvency has not really been solved as yet though. So, there could be payment issues unless Central support continues. The stock rose around 4 per cent since results were declared, closing at Rs 118. Motilal Oswal Securities has a one-year target of Rs 145.
*Sunidhi-Himanshu*
The power generator's growth prospects are improving and capacity expansions provide medium-term visibility
NTPC, India’s premier power generator, had a strong fourth quarter. Revenues from operations fell 0.9 per cent to Rs 30,102 crore from Rs 30,390 crore a year ago. But PAT surged to Rs 4,649 crore from Rs 1,630 crore. This was due to a tax refund of Rs 968 crore versus tax paid of Rs 4,958 crore YoY.
Consolidated revenue from operations in FY21 was up 1.8 per cent YoY to Rs 1,11,531 crore from Rs 1,09,464 crore. PAT for the FY21 was up 25.8 per cent to Rs 14,969 crore versus Rs 11,902 crore. Tax paid declined 74 per cent to Rs 2,420 crore from Rs 9,347 crore in the previous fiscal. Depreciation and amortisation rose to Rs 12,450 crore from Rs 10,356 crore YoY.
Among other ratios, FY21 EPS almost doubled to Rs 12.93 from Rs 6.8 a year ago –a buyback slightly reduced the equity base. The debt:equity ratio was stable at 1.55 while the debt service cover rose slightly to 2x from 1.97x.
The cash flow statement indicates NTPC invested Rs 23,312 crore in new plants and other assets in FY21 compared to the previous fiscal when it invested Rs 18,230 crore in such assets and also Rs 11,500 crore in acquisition of NEEPCO and THDCIL.
Unit power sales rose 4.8 per cent to 251.7 billion units of electricity (290 BU taking subsidiaries into consideration). This is excellent, given that Q1FY21 was almost a washout due to the lockdown and the GDP contracted through the fiscal. Utilisation levels of coal-based plants dropped, with plant load factor (PLF) down to 66 per cent from 68.2 per cent YoY. The average tariff was Rs 3.77/unit, a YoY drop of 3.3 per cent. Payment was eased by the bailout of discoms which enabled faster payment of dues. Receivables dropped by Rs 1,400 crore as a result.
The total installed capacity is now 65,825 MW and it intends to expand this to 1,30,000 MW by 2032 with 30 per cent of the total being non-thermal. This breaks up as 32,000 MW renewables, 5,000 MW hydro, and another 2,000 MW nuclear. The action plan involves capital expenditure of over Rs 1 trillion for 2019-2024.
The renewables target has been almost doubled, to 60 GW by 2032 (earlier: 32GW). This implies adding 5–5.5 GW per annum. NTPC has also ramped up production of captive coal. The estimated financing cost of loans for the solar arm is 6.5 per cent. But while lower financing costs are a plus, competition is also pushing solar tariff bids lower.
Analysts believe there could be 12 per cent growth in regulated return on equity tariffs over the next two fiscals. Coal prices have risen globally in the last five months, and further rise is likely. NTPC has some protection due to its captive production.
Growth should accelerate in this fiscal since GDP is expected to grow after 2020-21 contraction. Discom insolvency has not really been solved as yet though. So, there could be payment issues unless Central support continues. The stock rose around 4 per cent since results were declared, closing at Rs 118. Motilal Oswal Securities has a one-year target of Rs 145.
*Sunidhi-Himanshu*
👍1
Wall Street update: Bank, oil stocks lead Dow higher by over 500 pts
https://www.livemint.com/market/stock-market-news/wall-street-update-dow-jumps-400-pts-after-fed-induced-pullback-11624284697025.html
https://www.livemint.com/market/stock-market-news/wall-street-update-dow-jumps-400-pts-after-fed-induced-pullback-11624284697025.html
mint
Wall Street update: Bank, oil stocks lead Dow higher by over 500 pts
Dow Jones Industrial Average was up 533.52 points, or 1.60%, at 33,823.60, and was eyeing its best day since mid-May.The broader banking index rose 1.6% after crashing to a two-month low last week
*Good Morning*
Dalio, Summers Warn Inflation Could Derail Recovery: Qatar Forum
Asia’s Richest Man Says ‘No Option’ But to Make Businesses Green
Reliance has set a 2035 target to be a carbon-neutral co.
India Extends Transmission-Fee Waiver for Renewable Projects
India Coal Power Giant Nearly Doubles Renewable Energy Target
NTPC board aims to have 60 gigawatts clean power by 2032
Duflo, Rajan Named to Indian State’s Economic Advisory Panel
SAT Allows PNB Housing To Conduct E-Voting On Pref Allotment: BQ
Indian Firms List at Fastest Pace Since 2008: ECM Watch
INDIA DISTRESSED WATCH: Reliance Comm Hearing, Jain Bond Recast
RBI Converts INR67B Short Bonds to Long Debt, Less Than Planned
India Public Sector Lenders Surge on Bank Divestment Report
Emerging-Market ETFs Saw Smallest Inflow Since October Last Week
Emerging Market ETFs Rise for 33rd Week in $47.8 Bln Streak
India Cumulative Monsoon Rainfall 37% Above Normal as June 21
Global Funds Sell Net INR12.4B of India Stocks on Monday: NSE
Domestic funds buy net 1.38b rupees of stocks
Foreign Investors Buy Net INR26.3B of Indian Equities on June 18
Foreigners Buy Net INR17.8B of Indian Equity Derivatives Monday
FinMin, Infy meet on glitches in new income-tax portal on Tuesday: PTI
Nissan India starts exports of SUV Magnite to Indonesia, South Africa, Nepal: PTI
Bharti Airtel (BHARTI): To partner Tata group on indigenous 5G technology
Brigade Enterprises (BRGD): Says QIP floor price set at INR276.5/share
Dish TV (DITY): Approvesup to INR10b rights share issue
Oil India (OINL): 4Q net income -8.4% y/y to 8.48b rupees, beats est. 6.32b; revenue 25.8b vs est. 27.4b
State Bank of India (SBI): Approves raisingup to 140b rupees in AT1 Capital
Dalio, Summers Warn Inflation Could Derail Recovery: Qatar Forum
Asia’s Richest Man Says ‘No Option’ But to Make Businesses Green
Reliance has set a 2035 target to be a carbon-neutral co.
India Extends Transmission-Fee Waiver for Renewable Projects
India Coal Power Giant Nearly Doubles Renewable Energy Target
NTPC board aims to have 60 gigawatts clean power by 2032
Duflo, Rajan Named to Indian State’s Economic Advisory Panel
SAT Allows PNB Housing To Conduct E-Voting On Pref Allotment: BQ
Indian Firms List at Fastest Pace Since 2008: ECM Watch
INDIA DISTRESSED WATCH: Reliance Comm Hearing, Jain Bond Recast
RBI Converts INR67B Short Bonds to Long Debt, Less Than Planned
India Public Sector Lenders Surge on Bank Divestment Report
Emerging-Market ETFs Saw Smallest Inflow Since October Last Week
Emerging Market ETFs Rise for 33rd Week in $47.8 Bln Streak
India Cumulative Monsoon Rainfall 37% Above Normal as June 21
Global Funds Sell Net INR12.4B of India Stocks on Monday: NSE
Domestic funds buy net 1.38b rupees of stocks
Foreign Investors Buy Net INR26.3B of Indian Equities on June 18
Foreigners Buy Net INR17.8B of Indian Equity Derivatives Monday
FinMin, Infy meet on glitches in new income-tax portal on Tuesday: PTI
Nissan India starts exports of SUV Magnite to Indonesia, South Africa, Nepal: PTI
Bharti Airtel (BHARTI): To partner Tata group on indigenous 5G technology
Brigade Enterprises (BRGD): Says QIP floor price set at INR276.5/share
Dish TV (DITY): Approvesup to INR10b rights share issue
Oil India (OINL): 4Q net income -8.4% y/y to 8.48b rupees, beats est. 6.32b; revenue 25.8b vs est. 27.4b
State Bank of India (SBI): Approves raisingup to 140b rupees in AT1 Capital
*Reliance, Tata superapps gear up for battle royale in e-commerce space*
While Tata has an upper hand like in-house products and brands, RIL has the backing of global biggies like Google, Facebook and Microsoft, says head of a rating firm
https://www.business-standard.com/article/companies/reliance-tata-superapps-gear-up-for-battle-royale-in-e-commerce-space-121062100676_1.html
*Stiff compliance, flash sale ban in draft norms for e-commerce firms*
Govt proposes appointing chief compliance officer, nodal contact person mandatory for companies
The proposed rules have been released at a time when DPIIT is also trying to roll out a comprehensive e-commerce policy aimed at addressing the regulatory challenges sector
https://www.business-standard.com/article/companies/govt-proposes-stiff-compliance-measures-for-e-commerce-companies-121062101580_1.html
*With growth prospects improving, more steam left in NTPC stock*
The power generator's growth prospects are improving and capacity expansions provide medium-term visibility
https://www.business-standard.com/article/companies/with-growth-prospects-improving-more-steam-left-in-ntpc-stock-121062101356_1.html
*Adani Transmission seeks shareholders' approval to raise Rs 2,500 cr*
Adani Transmission will seek shareholders nod to raise up to Rs 2,500 crore in one or more tranches through the issuance of equity shares, securities, debentures etc
https://www.business-standard.com/article/companies/adani-transmission-seeks-shareholders-approval-to-raise-rs-2-500-cr-121062101347_1.html
*Dish TV gets board nod to raise up to Rs 1,000 cr through rights issue*
Direct-to-home company Dish TV India Ltd on Monday said its board has approved raising up to Rs 1,000 crore through a rights issue in one or more tranches.
https://www.business-standard.com/article/companies/dish-tv-gets-board-nod-to-raise-up-to-rs-1-000-cr-through-rights-issue-121062101282_1.html
*5G traction likely to add to Tech Mahindra's order book, growth*
Valuations at a 30% discount to peers are also at attractive levels
https://www.business-standard.com/article/companies/5g-traction-likely-to-add-to-tech-mahindra-s-order-book-growth-121062101228_1.html
*SAT dismisses Rana Kapoor's appeal against Sebi's Rs 1-cr penalty order*
Case relates Sebi show-cause to Kapoor and his firm for alleged lapse in disclosure norms
In May 2019, Sebi had issued show cause notices to Kapoor and his firm for the alleged lapse in disclosure norms
https://www.business-standard.com/article/companies/sat-dismisses-rana-kapoor-s-appeal-against-sebi-s-rs-1-cr-penalty-order-121062101201_1.html
*Tiger Global, Sequoia lead $25 mn round in financing startup Progcap*
Founded by Pallavi Shrivastava and Himanshu Chandra, Progcap has over 300,000 retailers across 50 corporates and has disbursed over Rs 1,500 crore of loans so far
https://www.business-standard.com/article/companies/tiger-global-sequoia-lead-25-mn-round-in-financing-startup-progcap-121062100334_1.html
*Covid-19 impact on Ola, Uber lower during second wave; Ola fares better*
The mobility sector is amongst the worst hit due to Covid-19 and both Ola and Uber have lost revenue
Monthly active users (MAUs) of Ola and Uber fell 25.2 per cent over March to May 2021, compared to a 44 per cent drop from March to April 2020.
https://www.business-standard.com/article/companies/covid-19-impact-on-ola-uber-lower-during-second-wave-ola-fares-better-121062100115_1.html
*Shares of four Adani Group companies locked in 5% upper circuit*
Adani Green Energy (Rs 1,115.85), Adani Transmission (Rs 1,297.65), Adani Total Gas (Rs 1,321) and Adani Power (Rs 120.60) were locked in 5 per cent upper circuit on the BSE
Last week, all Adani group stocks had come under pressure after a media report suggested that the NSDL had frozen accounts of three foreign funds that own stake in four of Adani Group companies
https://www.business-standard.com/article/companies/shares-of-four-adani-group-companies-locked-in-5-upper-circuit-121062200011_1.html
*Sunidhi-Himanshu*
While Tata has an upper hand like in-house products and brands, RIL has the backing of global biggies like Google, Facebook and Microsoft, says head of a rating firm
https://www.business-standard.com/article/companies/reliance-tata-superapps-gear-up-for-battle-royale-in-e-commerce-space-121062100676_1.html
*Stiff compliance, flash sale ban in draft norms for e-commerce firms*
Govt proposes appointing chief compliance officer, nodal contact person mandatory for companies
The proposed rules have been released at a time when DPIIT is also trying to roll out a comprehensive e-commerce policy aimed at addressing the regulatory challenges sector
https://www.business-standard.com/article/companies/govt-proposes-stiff-compliance-measures-for-e-commerce-companies-121062101580_1.html
*With growth prospects improving, more steam left in NTPC stock*
The power generator's growth prospects are improving and capacity expansions provide medium-term visibility
https://www.business-standard.com/article/companies/with-growth-prospects-improving-more-steam-left-in-ntpc-stock-121062101356_1.html
*Adani Transmission seeks shareholders' approval to raise Rs 2,500 cr*
Adani Transmission will seek shareholders nod to raise up to Rs 2,500 crore in one or more tranches through the issuance of equity shares, securities, debentures etc
https://www.business-standard.com/article/companies/adani-transmission-seeks-shareholders-approval-to-raise-rs-2-500-cr-121062101347_1.html
*Dish TV gets board nod to raise up to Rs 1,000 cr through rights issue*
Direct-to-home company Dish TV India Ltd on Monday said its board has approved raising up to Rs 1,000 crore through a rights issue in one or more tranches.
https://www.business-standard.com/article/companies/dish-tv-gets-board-nod-to-raise-up-to-rs-1-000-cr-through-rights-issue-121062101282_1.html
*5G traction likely to add to Tech Mahindra's order book, growth*
Valuations at a 30% discount to peers are also at attractive levels
https://www.business-standard.com/article/companies/5g-traction-likely-to-add-to-tech-mahindra-s-order-book-growth-121062101228_1.html
*SAT dismisses Rana Kapoor's appeal against Sebi's Rs 1-cr penalty order*
Case relates Sebi show-cause to Kapoor and his firm for alleged lapse in disclosure norms
In May 2019, Sebi had issued show cause notices to Kapoor and his firm for the alleged lapse in disclosure norms
https://www.business-standard.com/article/companies/sat-dismisses-rana-kapoor-s-appeal-against-sebi-s-rs-1-cr-penalty-order-121062101201_1.html
*Tiger Global, Sequoia lead $25 mn round in financing startup Progcap*
Founded by Pallavi Shrivastava and Himanshu Chandra, Progcap has over 300,000 retailers across 50 corporates and has disbursed over Rs 1,500 crore of loans so far
https://www.business-standard.com/article/companies/tiger-global-sequoia-lead-25-mn-round-in-financing-startup-progcap-121062100334_1.html
*Covid-19 impact on Ola, Uber lower during second wave; Ola fares better*
The mobility sector is amongst the worst hit due to Covid-19 and both Ola and Uber have lost revenue
Monthly active users (MAUs) of Ola and Uber fell 25.2 per cent over March to May 2021, compared to a 44 per cent drop from March to April 2020.
https://www.business-standard.com/article/companies/covid-19-impact-on-ola-uber-lower-during-second-wave-ola-fares-better-121062100115_1.html
*Shares of four Adani Group companies locked in 5% upper circuit*
Adani Green Energy (Rs 1,115.85), Adani Transmission (Rs 1,297.65), Adani Total Gas (Rs 1,321) and Adani Power (Rs 120.60) were locked in 5 per cent upper circuit on the BSE
Last week, all Adani group stocks had come under pressure after a media report suggested that the NSDL had frozen accounts of three foreign funds that own stake in four of Adani Group companies
https://www.business-standard.com/article/companies/shares-of-four-adani-group-companies-locked-in-5-upper-circuit-121062200011_1.html
*Sunidhi-Himanshu*
Business-Standard
Reliance, Tata superapps gear up for battle royale in e-commerce space
While Tata has an upper hand like in-house products and brands, RIL has the backing of global biggies like Google, Facebook and Microsoft, says head of a rating firm
India Today:
* NIFTY Jun future closed at 15743.8 with a discount of 3 points, while Jul futures were at a premium of 45 points towards close.
*Insti Flows: FII(Rs bn) :Cash-12.4 IdxFut-4.78 IdxOpt+17.34 SSF+0.74 SSO+4.51, DII+1.38 Fut OI, OI% & basis :Nifty Rs170bn0%, -3 & Bnif Rs70bn+1%, +40 SSFRs1665 +1.41% Total OI Rs6682+ 6.5%
* India’s central bank to auction state govt bonds; NMDC, Bharat Electronics, GE Power India among companies reporting earnings; Hindustan Unilever to hold annual shareholders’ meeting; health ministry to brief on virus situation & vaccination, Foreign Minister S. Jaishankar to speak at Qatar Economic Forum, powered by Bloomberg.
* India Virus Tracker: Cases 29.94 million; Deaths 388,135 | India Says 7.5m Covid Vaccine Doses Given So Far Monday | Virus Tracker: Global Vaccinations, Cases, Deaths Tally
Africa to Get mRNA Facility; Indonesia Cases Rise: Virus Update
Rollover Snap Shot:
* The Nifty rollovers were marginally above average at 24% vs. 25%, Bank-Nifty rollovers (%) were above average at 31% vs. 27%; The SSF roll% were marginally above average at 38% vs 37% JULY is the 5 week expiry. 33 points dividend is expected in the month of July series..
* MISC ,OIL_GAS ,MEDIA ,TELECOM ,AUTO_ETC ,METALS_ETC ,TEXTILES ,rolled above average, while rolled below average are ENGG_CG ,CONSTRUCTION ,IT ,CEMENT ,FINANCIALS ,CHEMICALS ,PHARMA ,FMCG ,POWER.
* Low Roll%:
- Nifty: MARUTI, INFY, NTPC, SUNPHARMA, HINDUNILVR, AXISBANK, LT, ICICIBANK
- Non-Nifty(front OI >$10m) :BHEL, PEL, LUPIN, ACC, BEL, BHARATFORG, CONCOR, NAUKRI, APOLLOHOSP, CHOLAFIN
* Below Average Roll%:
- Nifty: CIPLA, INDUSINDBK, BAJFINANCE, ICICIBANK, SUNPHARMA, HDFC, HINDUNILVR
- Non-Nifty(front OI >$10m) :BHEL, MUTHOOTFIN, CONCOR, CHOLAFIN, LUPIN, PEL, NMDC, HAVELLS, PNB, TATACHEM
Open Interest Activity
Nifty Stock :
Long Buildup : SBIN | ULTRACEMCO | NTPC | TATAPOWER | AMBUJACEM | | | | |
Short Covering : BHEL | HINDUNILVR | ADANIPORTS | GRASIM | HDFC | BANKBARODA | INDUSINDBK | | |
Short Buildup : HINDALCO | IDEA
Non-Nifty Stock :
Long Buildup : BATAINDIA | CANBK | RBLBANK | GMRINFRA | L&TFH | PEL | SAIL | AMBUJACEM | DLF | INDIGO
Short Covering : PETRONET | IDFCFIRSTB | BHEL | MFSL | ADANIENT | HINDPETRO | TVSMOTOR | CADILAHC | PIDILITIND | PNB
Short Buildup : SRF | JINDALSTEL | COLPAL | MRF | SIEMENS | HAVELLS | IDEA | VOLTAS | BALKRISIND | JUBLFOOD
Long Liquidation : PVR | CUMMINSIND
Options Chain:
Nifty
24-Jun-21
- Max Call OI is @ 16000 with ,(74k ctcs ) ; 15800 (55k ctcs )
- Max Put OI is @ 15000 with ,(65k ctcs ) ; 15500 (64k ctcs )
- Call added OI is @ 16000 (15k ctcs ); 15900 (9k ctcs )
- Put added OI is @ 15600 (19k ctcs ); 15500 (13k ctcs )
BankNifty
- Max Call OI is @ 35000 with ,(52k ctcs ) ; 36000 (50k ctcs )
- Max Put OI is @ 33000 with ,(67k ctcs ) ; 34000 (61k ctcs )
- Call added OI is @ 37000 (8k ctcs ); 35500 (5k ctcs )
- Put added OI is @ 33000 (36k ctcs ); 34000 (22k ctcs )
EARNINGS:
* Aster DM Healthcare (ASTERDM) 4Q
* Ashapura Minechem Ltd. (ASMN) 4Q
* Avanti Feeds Ltd. (AVNT) 4Q
* Bharat Electronics Ltd. (BHE) 4Q
* GE Power India Ltd. (GEPIL) 4Q
* ITI Ltd. (ITI) 4Q
* Max India Ltd. (MAXINDIA) 4Q
* NMDC Ltd. Group (NMDC) 4Q
* Peninsula Land Ltd. (PENL) 4Q
* Religare Enterprises Ltd. (RELG) 4Q
* Sobha Ltd. (SOBHA) 4Q
ON THE RADAR/ EQUITY PREVIEW:
* Bharti Airtel (BHARTI): To partner Tata group on indigenous 5G technology
* Brigade Enterprises (BRGD): Says QIP floor price set at INR276.5/share
* Dish TV (DITY): Approves up to INR10b rights share issue
* Oil India (OINL): 4Q net income -8.4% y/y to 8.48b rupees, beats est. 6.32b; revenue 25.8b vs est. 27.4b
* State Bank of India (SBI): Approves raising up to 140b rupees in AT1 Capital
* Dalio, Summers Warn Inflation Could Derail Recovery: Qatar Forum
* Asia’s Richest Man Says ‘No Option’ But to Make Businesses Green
* NIFTY Jun future closed at 15743.8 with a discount of 3 points, while Jul futures were at a premium of 45 points towards close.
*Insti Flows: FII(Rs bn) :Cash-12.4 IdxFut-4.78 IdxOpt+17.34 SSF+0.74 SSO+4.51, DII+1.38 Fut OI, OI% & basis :Nifty Rs170bn0%, -3 & Bnif Rs70bn+1%, +40 SSFRs1665 +1.41% Total OI Rs6682+ 6.5%
* India’s central bank to auction state govt bonds; NMDC, Bharat Electronics, GE Power India among companies reporting earnings; Hindustan Unilever to hold annual shareholders’ meeting; health ministry to brief on virus situation & vaccination, Foreign Minister S. Jaishankar to speak at Qatar Economic Forum, powered by Bloomberg.
* India Virus Tracker: Cases 29.94 million; Deaths 388,135 | India Says 7.5m Covid Vaccine Doses Given So Far Monday | Virus Tracker: Global Vaccinations, Cases, Deaths Tally
Africa to Get mRNA Facility; Indonesia Cases Rise: Virus Update
Rollover Snap Shot:
* The Nifty rollovers were marginally above average at 24% vs. 25%, Bank-Nifty rollovers (%) were above average at 31% vs. 27%; The SSF roll% were marginally above average at 38% vs 37% JULY is the 5 week expiry. 33 points dividend is expected in the month of July series..
* MISC ,OIL_GAS ,MEDIA ,TELECOM ,AUTO_ETC ,METALS_ETC ,TEXTILES ,rolled above average, while rolled below average are ENGG_CG ,CONSTRUCTION ,IT ,CEMENT ,FINANCIALS ,CHEMICALS ,PHARMA ,FMCG ,POWER.
* Low Roll%:
- Nifty: MARUTI, INFY, NTPC, SUNPHARMA, HINDUNILVR, AXISBANK, LT, ICICIBANK
- Non-Nifty(front OI >$10m) :BHEL, PEL, LUPIN, ACC, BEL, BHARATFORG, CONCOR, NAUKRI, APOLLOHOSP, CHOLAFIN
* Below Average Roll%:
- Nifty: CIPLA, INDUSINDBK, BAJFINANCE, ICICIBANK, SUNPHARMA, HDFC, HINDUNILVR
- Non-Nifty(front OI >$10m) :BHEL, MUTHOOTFIN, CONCOR, CHOLAFIN, LUPIN, PEL, NMDC, HAVELLS, PNB, TATACHEM
Open Interest Activity
Nifty Stock :
Long Buildup : SBIN | ULTRACEMCO | NTPC | TATAPOWER | AMBUJACEM | | | | |
Short Covering : BHEL | HINDUNILVR | ADANIPORTS | GRASIM | HDFC | BANKBARODA | INDUSINDBK | | |
Short Buildup : HINDALCO | IDEA
Non-Nifty Stock :
Long Buildup : BATAINDIA | CANBK | RBLBANK | GMRINFRA | L&TFH | PEL | SAIL | AMBUJACEM | DLF | INDIGO
Short Covering : PETRONET | IDFCFIRSTB | BHEL | MFSL | ADANIENT | HINDPETRO | TVSMOTOR | CADILAHC | PIDILITIND | PNB
Short Buildup : SRF | JINDALSTEL | COLPAL | MRF | SIEMENS | HAVELLS | IDEA | VOLTAS | BALKRISIND | JUBLFOOD
Long Liquidation : PVR | CUMMINSIND
Options Chain:
Nifty
24-Jun-21
- Max Call OI is @ 16000 with ,(74k ctcs ) ; 15800 (55k ctcs )
- Max Put OI is @ 15000 with ,(65k ctcs ) ; 15500 (64k ctcs )
- Call added OI is @ 16000 (15k ctcs ); 15900 (9k ctcs )
- Put added OI is @ 15600 (19k ctcs ); 15500 (13k ctcs )
BankNifty
- Max Call OI is @ 35000 with ,(52k ctcs ) ; 36000 (50k ctcs )
- Max Put OI is @ 33000 with ,(67k ctcs ) ; 34000 (61k ctcs )
- Call added OI is @ 37000 (8k ctcs ); 35500 (5k ctcs )
- Put added OI is @ 33000 (36k ctcs ); 34000 (22k ctcs )
EARNINGS:
* Aster DM Healthcare (ASTERDM) 4Q
* Ashapura Minechem Ltd. (ASMN) 4Q
* Avanti Feeds Ltd. (AVNT) 4Q
* Bharat Electronics Ltd. (BHE) 4Q
* GE Power India Ltd. (GEPIL) 4Q
* ITI Ltd. (ITI) 4Q
* Max India Ltd. (MAXINDIA) 4Q
* NMDC Ltd. Group (NMDC) 4Q
* Peninsula Land Ltd. (PENL) 4Q
* Religare Enterprises Ltd. (RELG) 4Q
* Sobha Ltd. (SOBHA) 4Q
ON THE RADAR/ EQUITY PREVIEW:
* Bharti Airtel (BHARTI): To partner Tata group on indigenous 5G technology
* Brigade Enterprises (BRGD): Says QIP floor price set at INR276.5/share
* Dish TV (DITY): Approves up to INR10b rights share issue
* Oil India (OINL): 4Q net income -8.4% y/y to 8.48b rupees, beats est. 6.32b; revenue 25.8b vs est. 27.4b
* State Bank of India (SBI): Approves raising up to 140b rupees in AT1 Capital
* Dalio, Summers Warn Inflation Could Derail Recovery: Qatar Forum
* Asia’s Richest Man Says ‘No Option’ But to Make Businesses Green