Insider Trades
🔆Adani Ports and SEZ: Promoter Worldwide Emerging Market Holding bought 10 lakh shares on June 22.
🔆Adani Green Energy: Promoter Infinite Trade and Investment bought 19.19 lakh shares on June 22.
🔆JK Cement: Promoter Ramapati Singhania sold 3,692 shares between June 21-22.
🔆Kotak Mahindra Bank: Promoter Janak Desai sold 1,500 shares between June 3-21.
🔆Kabra Extrusiontechnik: Promoter Kolsite Industries bought 14,300 shares between June 17-18.
🔆LG Balakrishnan & Bros: Promoter V Rajvirdhan sold 55,350 shares between June 17-18.
🔆Titagarh Wagons: Promoter Titagarh Logistics Infrastructures bought 2.37 lakh shares between June 17-18.
🔆Solara Active Pharma Sciences: Promoter Triumph Venture Holdings LLP sold 5,989 shares on June 15.
🔆Ultramarine & Pigments: Promoters (Sridhar Sundararajan HUF and Kala Sundarvedha) sold 12,469 shares on June 22.
🔆Vardhman Special Steels: Promoter Sachit Jain bought 9,000 shares between June 22-23.
🔆Adani Ports and SEZ: Promoter Worldwide Emerging Market Holding bought 10 lakh shares on June 22.
🔆Adani Green Energy: Promoter Infinite Trade and Investment bought 19.19 lakh shares on June 22.
🔆JK Cement: Promoter Ramapati Singhania sold 3,692 shares between June 21-22.
🔆Kotak Mahindra Bank: Promoter Janak Desai sold 1,500 shares between June 3-21.
🔆Kabra Extrusiontechnik: Promoter Kolsite Industries bought 14,300 shares between June 17-18.
🔆LG Balakrishnan & Bros: Promoter V Rajvirdhan sold 55,350 shares between June 17-18.
🔆Titagarh Wagons: Promoter Titagarh Logistics Infrastructures bought 2.37 lakh shares between June 17-18.
🔆Solara Active Pharma Sciences: Promoter Triumph Venture Holdings LLP sold 5,989 shares on June 15.
🔆Ultramarine & Pigments: Promoters (Sridhar Sundararajan HUF and Kala Sundarvedha) sold 12,469 shares on June 22.
🔆Vardhman Special Steels: Promoter Sachit Jain bought 9,000 shares between June 22-23.
🌟Good Morning All🌟
☀️ BSC Exclusive Morning Market News & Update☀️
🔹Tata Motors: Guenter Butschek to step down as CEO & MD on June 30, to continue as consultant till the end of the financial year. Girish Wagh, President of the commercial vehicles unit also appointed as the Executive Director to the board from July 1.
🔹Adani Ports and SEZ: May abandon Myanmar project if it violates U.S. sanctions and will write-down investments in the project in full, the company said. The write down will not materially affect the balance sheet as it is equivalent to about 1.3% of the total assets of the company. APSEZ is in discussion with its U.S. based counsels to
ensure that it is in compliance with the OFAC sanctions programs. Further, the company declined to comment on KLP Fund share sale report.
🔹Jaypee Infratech: Suraksha ARC wins the bid for Jaypee Infratech by a small margin. The final resolution plans of Suraksha Realty along with Lakshdeep Investments and Finance got 98.7% votes.
🔹HDFC: Chairman Deepak Parekh calls for regulatory clarity as housing finance companies come under RBI regulation and supervision. Difference in accounting standards used by NBFC/HFCs versus banks leading to differences in interpretation between inspectors, auditors and regulated entities, Parekh said. HFCs should be allowed to retain customers by lowering interest rate on loans, without these loans being seen as restructured. Home loan insurance and home insurance should be classified as a component of home loans.
🔹Reliance Industries: Fitch Ratings has upgraded the company’s foreign-currency debt rating to a level higher than India’s sovereign ranking, citing strong external debt-servicing capabilities. RIL now has a long-term foreign-currency rating of BBB, while the local-currency rating stands at BBB+.
🔹UCO Bank: Approved raising up to Rs 500 crore in Tier II capital.
🔹Orchid Pharma: Promoter Dhanuka Laboratories to sell up to 32.80 lakh shares, representing 8.04% of the total equity share capital, through an Offer for Sale. The floor price is set at Rs 375 per share. The OFS opens for non-retail investors today and for retail investors tomorrow.
🔹Piramal Enterprises: Board to meet on June 28 to considerraising up to Rs 1000 crore through the issue of secured NCDs on private placement basis. The base issue size will be Rs 100 crore with an oversubscription of up to Rs 900 crore.
🔹Union Bank of India: Extended the tenure of BS Venkatesha, General Manager as Chief Risk Officer of the bank for a further period of six months
🔹Earnings: ONGC, Ashok Leyland, PTC India, Authum Investment & Infrastructure, Bodal Chemicals, Everest Kanto Cylinder, Mishra Dhatu Nigam, Nath Bio-Genes (India), Nirlon, Rushil Décor, Take Solutions, Thangamayil Jewellery, West Coast Paper Mills
☀️ BSC Exclusive Morning Market News & Update☀️
🔹Tata Motors: Guenter Butschek to step down as CEO & MD on June 30, to continue as consultant till the end of the financial year. Girish Wagh, President of the commercial vehicles unit also appointed as the Executive Director to the board from July 1.
🔹Adani Ports and SEZ: May abandon Myanmar project if it violates U.S. sanctions and will write-down investments in the project in full, the company said. The write down will not materially affect the balance sheet as it is equivalent to about 1.3% of the total assets of the company. APSEZ is in discussion with its U.S. based counsels to
ensure that it is in compliance with the OFAC sanctions programs. Further, the company declined to comment on KLP Fund share sale report.
🔹Jaypee Infratech: Suraksha ARC wins the bid for Jaypee Infratech by a small margin. The final resolution plans of Suraksha Realty along with Lakshdeep Investments and Finance got 98.7% votes.
🔹HDFC: Chairman Deepak Parekh calls for regulatory clarity as housing finance companies come under RBI regulation and supervision. Difference in accounting standards used by NBFC/HFCs versus banks leading to differences in interpretation between inspectors, auditors and regulated entities, Parekh said. HFCs should be allowed to retain customers by lowering interest rate on loans, without these loans being seen as restructured. Home loan insurance and home insurance should be classified as a component of home loans.
🔹Reliance Industries: Fitch Ratings has upgraded the company’s foreign-currency debt rating to a level higher than India’s sovereign ranking, citing strong external debt-servicing capabilities. RIL now has a long-term foreign-currency rating of BBB, while the local-currency rating stands at BBB+.
🔹UCO Bank: Approved raising up to Rs 500 crore in Tier II capital.
🔹Orchid Pharma: Promoter Dhanuka Laboratories to sell up to 32.80 lakh shares, representing 8.04% of the total equity share capital, through an Offer for Sale. The floor price is set at Rs 375 per share. The OFS opens for non-retail investors today and for retail investors tomorrow.
🔹Piramal Enterprises: Board to meet on June 28 to considerraising up to Rs 1000 crore through the issue of secured NCDs on private placement basis. The base issue size will be Rs 100 crore with an oversubscription of up to Rs 900 crore.
🔹Union Bank of India: Extended the tenure of BS Venkatesha, General Manager as Chief Risk Officer of the bank for a further period of six months
🔹Earnings: ONGC, Ashok Leyland, PTC India, Authum Investment & Infrastructure, Bodal Chemicals, Everest Kanto Cylinder, Mishra Dhatu Nigam, Nath Bio-Genes (India), Nirlon, Rushil Décor, Take Solutions, Thangamayil Jewellery, West Coast Paper Mills
Pledge Share Details
💫Aurobindo Pharma: Promoters (Kambam Spoorthi and M Sumanth Reddy) revoked pledge of 35.30 lakh shares between June 17-21.
💫Asian Granito India: Promoter Kamleshkumar Patel revoked pledge of 2.63 lakh shares between June 19-21.
💫Kuantum Papers: Promoter Kapedome Enterprises created a pledge of 4.45 crore shares on June 22.
💫Aurobindo Pharma: Promoters (Kambam Spoorthi and M Sumanth Reddy) revoked pledge of 35.30 lakh shares between June 17-21.
💫Asian Granito India: Promoter Kamleshkumar Patel revoked pledge of 2.63 lakh shares between June 19-21.
💫Kuantum Papers: Promoter Kapedome Enterprises created a pledge of 4.45 crore shares on June 22.
What We’ve Been Reading
This is what’s caught our eye over the past 24 hours:
Hong Kong accountants push back after a government power grab.
China’s debt cut campaign is reshaping its $12 trillion credit market.
Hong Kong’s Apple Daily prints final edition after China crackdown.
For Airlines trying to survive the pandemic, it is survival of the fittest.
Batteries could add billions to Australia’s economy.
Warren Buffett steps away from middleman spot in Gates’ divorce.
Toshiba’s chairman faces a vote for survival as opposition grows.
PETA goes on the attack in India over milk industry’s treatment of cows.
This is what’s caught our eye over the past 24 hours:
Hong Kong accountants push back after a government power grab.
China’s debt cut campaign is reshaping its $12 trillion credit market.
Hong Kong’s Apple Daily prints final edition after China crackdown.
For Airlines trying to survive the pandemic, it is survival of the fittest.
Batteries could add billions to Australia’s economy.
Warren Buffett steps away from middleman spot in Gates’ divorce.
Toshiba’s chairman faces a vote for survival as opposition grows.
PETA goes on the attack in India over milk industry’s treatment of cows.
S&P 500 Stuck in Trading Lull While Bonds Retreat: Markets Wrap
Stocks traded in a tight range Wednesday as investors assessed prospects for an economic recovery and continued Federal Reserve support amid the threat of inflation. Treasuries fell.
The S&P 500 drifted between gains and losses throughout the day, with companies tied to a broader reopening of the economy -- such as retail and financial shares -- outperforming. A rally in Tesla Inc. drove the Nasdaq Composite to a fresh record even as the gauge rose just 0.1%. Fannie Mae and Freddie Mac tumbled as the Supreme Court dealt a blow to investors in their challenge to the U.S. collection of more than $100 billion in profits from government-sponsored enterprises.
The economy will likely meet the Fed’s threshold for tapering its asset purchases sooner than people think, noted Dallas Fed President Robert Kaplan, who’s penciled in a rate hike next year. His Atlanta counterpart Raphael Bostic said the central bank could decide to slow its asset purchases in the next few months. Meantime, Treasury Secretary Janet Yellen said her department may exhaust emergency measures to avoid breaching the debt limit as soon as August unless Congress acts to avert a potential default that would be “catastrophic.”
Data Wednesday showed U.S. manufacturing activity expanded in June at the fastest pace in records dating back to 2007. Meantime, sales of new homes unexpectedly fell last month as elevated home prices continued to weigh on affordability. The reports came a day after Fed Chair Jerome Powell reiterated his views that policy makers will be patient in waiting to lift rates despite higher inflation.
“You’ve got this inflation issue that has captured the imagination of investors for the first time in a long time,” said David Donabedian, chief investment officer of CIBC Private Wealth Management. “I don’t have a great case for why the market takes another leap forward here over the summer. It’s going to be more of a churn, and we usually do get a little bit more volatility because volumes are down.”
One-month correlations between the Bloomberg Barclays U.S. Treasury Index and the S&P 500 Total Return Index have fallen back below zero. Stocks and bonds moving in lockstep create headaches for fund managers who use fixed-income securities to diversify their portfolios and protect them against a selloff in equities.
For more market commentary, follow the MLIV blog.
Here are some events to watch this week:
Bank of England interest rate decision Thursday
The Fed releases Thursday the results of stress tests on the largest U.S. banks
U.S. wholesale inventories, initial jobless claims, GDP, durable goods due Thursday
U.S. personal income/spending, University of Michigan sentiment on Friday
These are some of the main moves in financial markets:
Stocks
The S&P 500 fell 0.1% as of 4 p.m. New York time
The Nasdaq 100 was little changed
The Dow Jones Industrial Average fell 0.2%
The MSCI World index was little changed
Currencies
The Bloomberg Dollar Spot Index was little changed
The euro fell 0.1% to $1.1924
The British pound was little changed at $1.3959
The Japanese yen fell 0.3% to 110.99 per dollar
Bonds
The yield on 10-year Treasuries rose three basis points to 1.49%
Germany’s 10-year yield declined one basis point to -0.18%
Britain’s 10-year yield was little changed at 0.78%
Commodities
West Texas Intermediate crude rose 0.6% to $73.26 a barrel
Gold futures fell 0.1% to $1,775.40 an ounce
Stocks traded in a tight range Wednesday as investors assessed prospects for an economic recovery and continued Federal Reserve support amid the threat of inflation. Treasuries fell.
The S&P 500 drifted between gains and losses throughout the day, with companies tied to a broader reopening of the economy -- such as retail and financial shares -- outperforming. A rally in Tesla Inc. drove the Nasdaq Composite to a fresh record even as the gauge rose just 0.1%. Fannie Mae and Freddie Mac tumbled as the Supreme Court dealt a blow to investors in their challenge to the U.S. collection of more than $100 billion in profits from government-sponsored enterprises.
The economy will likely meet the Fed’s threshold for tapering its asset purchases sooner than people think, noted Dallas Fed President Robert Kaplan, who’s penciled in a rate hike next year. His Atlanta counterpart Raphael Bostic said the central bank could decide to slow its asset purchases in the next few months. Meantime, Treasury Secretary Janet Yellen said her department may exhaust emergency measures to avoid breaching the debt limit as soon as August unless Congress acts to avert a potential default that would be “catastrophic.”
Data Wednesday showed U.S. manufacturing activity expanded in June at the fastest pace in records dating back to 2007. Meantime, sales of new homes unexpectedly fell last month as elevated home prices continued to weigh on affordability. The reports came a day after Fed Chair Jerome Powell reiterated his views that policy makers will be patient in waiting to lift rates despite higher inflation.
“You’ve got this inflation issue that has captured the imagination of investors for the first time in a long time,” said David Donabedian, chief investment officer of CIBC Private Wealth Management. “I don’t have a great case for why the market takes another leap forward here over the summer. It’s going to be more of a churn, and we usually do get a little bit more volatility because volumes are down.”
One-month correlations between the Bloomberg Barclays U.S. Treasury Index and the S&P 500 Total Return Index have fallen back below zero. Stocks and bonds moving in lockstep create headaches for fund managers who use fixed-income securities to diversify their portfolios and protect them against a selloff in equities.
For more market commentary, follow the MLIV blog.
Here are some events to watch this week:
Bank of England interest rate decision Thursday
The Fed releases Thursday the results of stress tests on the largest U.S. banks
U.S. wholesale inventories, initial jobless claims, GDP, durable goods due Thursday
U.S. personal income/spending, University of Michigan sentiment on Friday
These are some of the main moves in financial markets:
Stocks
The S&P 500 fell 0.1% as of 4 p.m. New York time
The Nasdaq 100 was little changed
The Dow Jones Industrial Average fell 0.2%
The MSCI World index was little changed
Currencies
The Bloomberg Dollar Spot Index was little changed
The euro fell 0.1% to $1.1924
The British pound was little changed at $1.3959
The Japanese yen fell 0.3% to 110.99 per dollar
Bonds
The yield on 10-year Treasuries rose three basis points to 1.49%
Germany’s 10-year yield declined one basis point to -0.18%
Britain’s 10-year yield was little changed at 0.78%
Commodities
West Texas Intermediate crude rose 0.6% to $73.26 a barrel
Gold futures fell 0.1% to $1,775.40 an ounce
Economy likely to see cyclical upturn, says DSP Investment Managers' Sambre
https://mybs.in/2ZfDamX
－shared via Business Standard iPhone App
https://mybs.in/2ZfDamX
－shared via Business Standard iPhone App
Business-Standard
Economy likely to see cyclical upturn, says DSP Investment Managers' Sambre
"This may be driven by enhanced government spending in core areas," said Vineet Sambre
Govt issues fresh guidelines for BPO companies
https://www.livemint.com/news/india/govt-issues-guidelines-for-bpo-companies-to-make-india-a-favourable-destination-for-voice-related-centres-11624441622266.html
https://www.livemint.com/news/india/govt-issues-guidelines-for-bpo-companies-to-make-india-a-favourable-destination-for-voice-related-centres-11624441622266.html
mint
Govt issues guidelines for BPO firms to make India a favourable destination for voice-related centres
The minister said that India's BPO industry is today at $37.6 billion. It has the potential to rise to $55.5 billion by 2025, he added
🚨Allotment Available🚨
Dodla Dairy Limited
WEB : https://ris.kfintech.com/ipostatus/ipos.aspx
APP : https://play.google.com/store/apps/details?id=com.karvy.kprismv3
Dodla Dairy Limited
WEB : https://ris.kfintech.com/ipostatus/ipos.aspx
APP : https://play.google.com/store/apps/details?id=com.karvy.kprismv3
*Tanla Platforms Investor Day 2021 KTAs*
- India’s largest CPaaS player with 4 main platforms, namely *Karix, Gamooga, Trubloq and Regulatory & Compliance (R&C)*
- Karix and Gamooga are Enterprise-side platforms. Gamooga mainly offers Analytics and AI solutions whereas Karix offers Marketing solutions through A2P messaging
- Trubloq and Tanla’s own R&C Platform sit on the Teleco-side of the value chain. Trubloq offers solutions for Spam & Fraudulent activities and Data Privacy
- *Total Addressable Market in CPaaS is $20 Bn as of 2020 and is expected to grow at 33% CAGR to $47 Bn by 2023*
- *Karix has ~30% market share in domestic enterprise market* which is greater than next 3 competitors total market share
- *Tanla has 75% volume market share in ILD and 41% volume market share in NLD*
- *Launched Trubloq* (on Distributed Ledger Technology) *and Wisely in FY21*
- *33% of enterprises in India use Trubloq*
- *Wisely is a 1 stop solution with a combination of Karix, Gamooga and Trubloq and will be the biggest catalyst for Global Expansion. Expect Wisely to be launched by July.* Wisely charges either on per transaction basis or lumpsum and is offered on Microsoft Azure.
- *Main industries that company caters to*: Banking, E-commerce, Ed-Tech and Government
- Revenue from new customers has grown at CAGR of 68% between FY18 and FY21 – indicating that size of deal wins has consistently increased. This is also evident from revenue CAGR of customers in INR 10 Mm+ and INR 50 Mn+ category which is 31% and 45% respectively. Additionally, count of INR 500 Mn customers has grown by 4x in years (from 3 clients to 12 clients)
- *Key triggers going ahead:* Launch innovative and new platforms, Expand Client Footprint and Expand to global markets
- *Consol gross margins driven by Platform business which have increased from 15% in FY18 to 25% in FY21*
- *Strong Operating Cash Flow generation at 129% of EBITDA* mainly due to healthy cash collection. Billed DSO at ~60 days and conversion from Unbilled to Billed usually in 30 days
- *Negative working capital cycle* enables healthy cash conversion
- DLT platform (Trubloq) has helped company win 2 large Telecos vs large global competitors in UAE. Expect platform to go live by next month
- *One key competitive advantage that company has is that a single transaction by a user translates into 4 revenue streams for Tanla*
- *Expect margins to be sustainable at current levels*
- 40% of revenue is in dollars which is largely from Tech Giants
- India’s largest CPaaS player with 4 main platforms, namely *Karix, Gamooga, Trubloq and Regulatory & Compliance (R&C)*
- Karix and Gamooga are Enterprise-side platforms. Gamooga mainly offers Analytics and AI solutions whereas Karix offers Marketing solutions through A2P messaging
- Trubloq and Tanla’s own R&C Platform sit on the Teleco-side of the value chain. Trubloq offers solutions for Spam & Fraudulent activities and Data Privacy
- *Total Addressable Market in CPaaS is $20 Bn as of 2020 and is expected to grow at 33% CAGR to $47 Bn by 2023*
- *Karix has ~30% market share in domestic enterprise market* which is greater than next 3 competitors total market share
- *Tanla has 75% volume market share in ILD and 41% volume market share in NLD*
- *Launched Trubloq* (on Distributed Ledger Technology) *and Wisely in FY21*
- *33% of enterprises in India use Trubloq*
- *Wisely is a 1 stop solution with a combination of Karix, Gamooga and Trubloq and will be the biggest catalyst for Global Expansion. Expect Wisely to be launched by July.* Wisely charges either on per transaction basis or lumpsum and is offered on Microsoft Azure.
- *Main industries that company caters to*: Banking, E-commerce, Ed-Tech and Government
- Revenue from new customers has grown at CAGR of 68% between FY18 and FY21 – indicating that size of deal wins has consistently increased. This is also evident from revenue CAGR of customers in INR 10 Mm+ and INR 50 Mn+ category which is 31% and 45% respectively. Additionally, count of INR 500 Mn customers has grown by 4x in years (from 3 clients to 12 clients)
- *Key triggers going ahead:* Launch innovative and new platforms, Expand Client Footprint and Expand to global markets
- *Consol gross margins driven by Platform business which have increased from 15% in FY18 to 25% in FY21*
- *Strong Operating Cash Flow generation at 129% of EBITDA* mainly due to healthy cash collection. Billed DSO at ~60 days and conversion from Unbilled to Billed usually in 30 days
- *Negative working capital cycle* enables healthy cash conversion
- DLT platform (Trubloq) has helped company win 2 large Telecos vs large global competitors in UAE. Expect platform to go live by next month
- *One key competitive advantage that company has is that a single transaction by a user translates into 4 revenue streams for Tanla*
- *Expect margins to be sustainable at current levels*
- 40% of revenue is in dollars which is largely from Tech Giants
Morgan Stanley requires employees to get vaccinated before going to the office
https://www.livemint.com/companies/news/morgan-stanley-requires-employees-to-get-vaccinated-before-going-to-the-office-11624467437928.html
https://www.livemint.com/companies/news/morgan-stanley-requires-employees-to-get-vaccinated-before-going-to-the-office-11624467437928.html
mint
Morgan Stanley requires employees to get vaccinated before going to the office
Bank’s employees will be required to confirm they have been vaccinated before entering Morgan Stanley buildings in New York
Benign home loan rates remain strong driver of residential segment: Ashok Tyagi, DLF
https://economictimes.indiatimes.com/markets/expert-view/benign-home-loan-rates-remain-strong-driver-of-residential-segment-ashok-tyagi-dlf/articleshow/83773053.cms
Download Economic Times App to stay updated with Business News -
https://etapp.onelink.me/tOvY/135dde21
https://economictimes.indiatimes.com/markets/expert-view/benign-home-loan-rates-remain-strong-driver-of-residential-segment-ashok-tyagi-dlf/articleshow/83773053.cms
Download Economic Times App to stay updated with Business News -
https://etapp.onelink.me/tOvY/135dde21
The Economic Times
Benign home loan rates remain strong driver of residential segment: Ashok Tyagi, DLF
"Clearly, the low or the moderate interest rates of the sub-7% for home buyers has been a huge driver to this entire resurgence of demand in the residential segment."
*Stocks in News*
*Sharda Motor Industries:* The company reported consolidated profit of Rs 25.91 crore for Q4FY21 against Rs 6.19 crore in Q4FY20, revenue jumped to Rs 604.16 crore from Rs 237.07 crore YoY. The company approved the joint venture between Sharda Motor Industries, and Kinetic Green Energy and Power Solutions.
*Andrew Yule & Company:* The company reported consolidated loss at Rs 16.56 crore in Q4FY21 against loss of Rs 30.34 crore in Q4FY20, revenue jumped to Rs 57.99 crore from Rs 41.92 crore YoY.
*Allcargo Logistics:* The company reported lower consolidated profit at Rs 5.91 crore in Q4FY21 against Rs 54.06 crore in Q4FY20, revenue jumped to Rs 3,349.31 crore against Rs 1,870.96 crore YoY.
*Speciality Restaurants:* The company reported consolidated profit of Rs 8.43 crore in Q4FY21 against loss of Rs 37.11 crore in Q4FY20, revenue fell to Rs 65.42 crore from Rs 75.41 crore YoY.
*Godawari Power and Ispat:* Government of India, Ministry of Environment & Forests & Climate Change, Impact Assessment Division has accorded its environment clearance for enhancement of iron ore production capacity from 1.405 MTPA to 2.35 MTPA in Ari Dongri Iron Ore Mines at Chhattisgarh, and for setting up of beneficiation plant of 0.6 MTPA capacity.
*Orchid Pharma:* Promoter Dhanuka Laboratories proposed to sell 32,80,115 equity shares, representing 8.04% of total paid-up equity via offer for sale, on June 24 and June 25.
*Sharda Motor Industries:* The company reported consolidated profit of Rs 25.91 crore for Q4FY21 against Rs 6.19 crore in Q4FY20, revenue jumped to Rs 604.16 crore from Rs 237.07 crore YoY. The company approved the joint venture between Sharda Motor Industries, and Kinetic Green Energy and Power Solutions.
*Andrew Yule & Company:* The company reported consolidated loss at Rs 16.56 crore in Q4FY21 against loss of Rs 30.34 crore in Q4FY20, revenue jumped to Rs 57.99 crore from Rs 41.92 crore YoY.
*Allcargo Logistics:* The company reported lower consolidated profit at Rs 5.91 crore in Q4FY21 against Rs 54.06 crore in Q4FY20, revenue jumped to Rs 3,349.31 crore against Rs 1,870.96 crore YoY.
*Speciality Restaurants:* The company reported consolidated profit of Rs 8.43 crore in Q4FY21 against loss of Rs 37.11 crore in Q4FY20, revenue fell to Rs 65.42 crore from Rs 75.41 crore YoY.
*Godawari Power and Ispat:* Government of India, Ministry of Environment & Forests & Climate Change, Impact Assessment Division has accorded its environment clearance for enhancement of iron ore production capacity from 1.405 MTPA to 2.35 MTPA in Ari Dongri Iron Ore Mines at Chhattisgarh, and for setting up of beneficiation plant of 0.6 MTPA capacity.
*Orchid Pharma:* Promoter Dhanuka Laboratories proposed to sell 32,80,115 equity shares, representing 8.04% of total paid-up equity via offer for sale, on June 24 and June 25.
*Apollo Hospitals Enterprise Ltd.* | *CMP* Rs. 3244 | *M Cap* Rs. 46644 Cr | *52 W H/L* 3435/1311
(Nirmal Bang Retail Research)
*Result is in-line with expectations*
Revenue from Operations came at Rs. 2868 Cr (3.9% QoQ, -1.9% YoY) vs expectation of Rs. 2948.1 Cr, QoQ Rs. 2759.8 Cr, YoY Rs. 2922.4 Cr
EBIDTA came at Rs. 411.8 Cr (5.5% QoQ, 8.4% YoY) vs expectation of Rs. 419.4 Cr, QoQ Rs. 390.3 Cr, YoY Rs. 380.1 Cr
EBITDA Margin came at 14.4% vs expectation of 14.2%, QoQ 14.1%, YoY 13%
Adj. PAT came at Rs. 142.7 Cr vs expectation of Rs. 141.4 Cr, QoQ Rs. 130.4 Cr, YoY Rs. 21.1 Cr
Quarter EPS is Rs. 9.9
Share is trading at P/E of 67.3x FY22E EPS
(Nirmal Bang Retail Research)
*Result is in-line with expectations*
Revenue from Operations came at Rs. 2868 Cr (3.9% QoQ, -1.9% YoY) vs expectation of Rs. 2948.1 Cr, QoQ Rs. 2759.8 Cr, YoY Rs. 2922.4 Cr
EBIDTA came at Rs. 411.8 Cr (5.5% QoQ, 8.4% YoY) vs expectation of Rs. 419.4 Cr, QoQ Rs. 390.3 Cr, YoY Rs. 380.1 Cr
EBITDA Margin came at 14.4% vs expectation of 14.2%, QoQ 14.1%, YoY 13%
Adj. PAT came at Rs. 142.7 Cr vs expectation of Rs. 141.4 Cr, QoQ Rs. 130.4 Cr, YoY Rs. 21.1 Cr
Quarter EPS is Rs. 9.9
Share is trading at P/E of 67.3x FY22E EPS
Amount of loot is so huge. Mallya and Choksi are nothing.
https://newsroompost.com/business/collusion-machinations-and-alleged-links-with-upa-minister-the-dark-world-of-ex-ilfs-chairman-unmasked/2261224.html
IIM Ahmedabad educated and ex CITIBANK - Ravi Parthasarathy is a consummate crook and a scalawag.
His scam of Rs 100000 crores in comparison makes the Nirav Modi - Mehul Choksi - Vijay Mallya look like small time part time pickpockets.
And P Chidambaram - its time this crook is put behind bars permanently. Chidambaram was the brain in the government driving and abetting this crime in plain daylight.
Read this article in full.
https://newsroompost.com/business/collusion-machinations-and-alleged-links-with-upa-minister-the-dark-world-of-ex-ilfs-chairman-unmasked/2261224.html
IIM Ahmedabad educated and ex CITIBANK - Ravi Parthasarathy is a consummate crook and a scalawag.
His scam of Rs 100000 crores in comparison makes the Nirav Modi - Mehul Choksi - Vijay Mallya look like small time part time pickpockets.
And P Chidambaram - its time this crook is put behind bars permanently. Chidambaram was the brain in the government driving and abetting this crime in plain daylight.
Read this article in full.
NewsroomPost
Collusion, machinations and alleged links with UPA minister: The dark world of ex-IL&FS chairman unmasked!
Parthasarathy stepped down in July 2018 on “health grounds” and IL&FS started defaulting in its loan repayment from August. Just next month in September, IL&FS investment-grade “AAA” rating was downgraded to D “Junk” grade by the rating agencies ICRA, CARE.
Nomura on Minda Ind
Buy, TP Rs 733
Acquires acquire 51% stake in Uz Chasys LLC for Rs 580m
Uz Chasys is only manufacturer of lighting products in Uzbekistan & major lighting suppliers in CIS countries
Management expects to double rev of Uz Chasys in 3-4 yrs
Buy, TP Rs 733
Acquires acquire 51% stake in Uz Chasys LLC for Rs 580m
Uz Chasys is only manufacturer of lighting products in Uzbekistan & major lighting suppliers in CIS countries
Management expects to double rev of Uz Chasys in 3-4 yrs
India Today:
* NIFTY Jun future closed at 15695.9 with a premium of 9 points, while Jul futures were at a premium of 55 points towards close.
*Turnover(Rsbn) :FNO 52702 +19% Cash 640 -1.4% BSE 129 +135.1%
Adv & Decl :NIFTY: 16:32 Non NIFTY fno: 27:73
*Insti Flows: FII(Rs bn) :Cash+31.6 IdxFut+3.72 IdxOpt+31.22 SSF+4.79 SSO-1.22, DII+13.17
*Fut OI, OI% & basis :Nif Rs164bn-3%, +9 & Bnif Rs72bn+5%, +38 SSFRs1643 -1.25% Tot OI Rs6970+ 2.5%
* Reliance Industries to hold its annual shareholders’ meeting; Shares of Dodla Dairy and KIMS Hospitals to start trading after IPO; Oil & Natural Gas Corp., Ashok Leyland, Mishra Dhatu Nigam among companies reporting earnings; Prime Minister Narendra Modi holds all-party meeting on J&K.
* India Virus Tracker: Cases 30.03 million; Deaths 390,660 | Virus Tracker: Global Vaccinations, Cases, Deaths Tally | NYC Offers At-Home Shots; U.S. Cases Likely Higher: Virus Update
Rollover SnapShot
* The Nifty rollovers were above average at 57% vs 54%, BankNifty rollovers (%) were above average at 56% vs 51%; The SSF roll% were above average at 71% vs 67%.
* JULY is the 5 week expiry. 33 points dividend is expected in the month of July series..
* MISC ,FMCG ,TELECOM ,FINANCIALS ,OIL_GAS ,METALS_ETC ,AUTO_ETC ,TEXTILESrolled above average, while rolled below average are ,MEDIA ,ENGG_CG ,CONSTRUCTION ,CEMENT ,CHEMICALS ,POWER ,PHARMA ,IT.
* Low Roll%:
- Nifty: INFY, ONGC, ITC, LT, MARUTI, POWERGRID, HINDUNILVR, ULTRACEMCO
- Non-Nifty(front OI >$10m) :IDEA, LUPIN, MOTHERSUMI, CHOLAFIN, NMDC, BANDHANBNK, NAUKRI, DEEPAKNTR, SRTRANSFIN, SUNTV
* Below Average Roll%:
- Nifty: BAJFINANCE, ASIANPAINT, HCLTECH, HINDUNILVR, KOTAKBANK, INFY, CIPLA
- Non-Nifty(front OI >$10m) :SUNTV, LUPIN, BANDHANBNK, MOTHERSUMI, ZEEL, CHOLAFIN, NMDC, SRTRANSFIN, AUROPHARMA, NATIONALUM
Open Interest Activity
Nifty Stock :
Long Buildup : ONGC | MARUTI
Short Buildup : INDUSTOWER | KOTAKBANK | LT | ICICIBANK
Long Liquidation : BHEL | ADANIPORTS | GAIL | HDFC | TATASTEEL
Non-Nifty Stock :
Long Buildup : PNB
Short Covering : L&TFH | MFSL | SIEMENS | VOLTAS
Short Buildup : NMDC | LICHSGFIN | | | | | | | |
Long Liquidation : COFORGE | MUTHOOTFIN | SHREECEM | BHARATFORG | IBULHSGFIN | BHEL | CHOLAFIN | MCDOWELL-N | SUNTV | DIVISLAB
Options Chain
Nifty
24-Jun-21
- Max Call OI is @ 15800 with ,(109k ctcs ) ; 15900 (87k ctcs )
- Max Put OI is @ 15500 with ,(71k ctcs ) ; 15600 (63k ctcs )
- Call added OI is @ 15800 (41k ctcs ); 15750 (29k ctcs )
- Put added OI is @ 15550 (21k ctcs ); 15600 (19k ctcs )
BankNifty
- Max Call OI is @ 35000 with ,(108k ctcs ) ; 36500 (76k ctcs )
- Max Put OI is @ 34000 with ,(60k ctcs ) ; 33000 (55k ctcs )
- Call added OI is @ 36500 (41k ctcs ); 34800 (25k ctcs )
- Put added OI is @ 35000 (11k ctcs ); 34000 (9k ctcs )
EARNINGS:
* Ashok Leyland Ltd. (AL) 4Q
* Future Supply Chain Solutions (FSCSL) 4Q
* Mishra Dhatu Nigam Ltd. (MIDHANI) 4Q
* Oil & Natural Gas Corp. (ONGC) 4Q
* PTC India Ltd. (PTCIN) 4Q
* Take Solutions Ltd. (TAKE) 4Q
* West Coast Paper Mills (WCPM) 4Q
ON THE RADAR/
EQUITY PREVIEW:
* Adani Ports (ADSEZ): Declines to comment on KLP Fund share sale report
* Orchid Pharma (ORCP): Says founder plan to sell up to 3.28m shares
* Piramal Enterprises (PIEL): To consider raising funds up to INR10b on June 28
* All Eyes on Aramco Deal When Ambani Addresses Reliance Investors
* ‘Big Bull’ Investor Sees Years of Double-Digit India Stock Gains
* Inflation Worries Trigger Record Sales of Floaters: India Credit
* PETA Goes on Attack in India Over Milk Giant’s Treatment of Cows
* Banks Recover About $1 Billion From Indian Ex-Billionaire Mallya
* Lenders sell Vijay Mallya’s stake in United Breweries
* India April FDI Inflow $6.24B, up 38% Y/y: Govt Statement
* Fitch Upgrades Reliance to Higher Than India’s Sovereign Rating
* NIFTY Jun future closed at 15695.9 with a premium of 9 points, while Jul futures were at a premium of 55 points towards close.
*Turnover(Rsbn) :FNO 52702 +19% Cash 640 -1.4% BSE 129 +135.1%
Adv & Decl :NIFTY: 16:32 Non NIFTY fno: 27:73
*Insti Flows: FII(Rs bn) :Cash+31.6 IdxFut+3.72 IdxOpt+31.22 SSF+4.79 SSO-1.22, DII+13.17
*Fut OI, OI% & basis :Nif Rs164bn-3%, +9 & Bnif Rs72bn+5%, +38 SSFRs1643 -1.25% Tot OI Rs6970+ 2.5%
* Reliance Industries to hold its annual shareholders’ meeting; Shares of Dodla Dairy and KIMS Hospitals to start trading after IPO; Oil & Natural Gas Corp., Ashok Leyland, Mishra Dhatu Nigam among companies reporting earnings; Prime Minister Narendra Modi holds all-party meeting on J&K.
* India Virus Tracker: Cases 30.03 million; Deaths 390,660 | Virus Tracker: Global Vaccinations, Cases, Deaths Tally | NYC Offers At-Home Shots; U.S. Cases Likely Higher: Virus Update
Rollover SnapShot
* The Nifty rollovers were above average at 57% vs 54%, BankNifty rollovers (%) were above average at 56% vs 51%; The SSF roll% were above average at 71% vs 67%.
* JULY is the 5 week expiry. 33 points dividend is expected in the month of July series..
* MISC ,FMCG ,TELECOM ,FINANCIALS ,OIL_GAS ,METALS_ETC ,AUTO_ETC ,TEXTILESrolled above average, while rolled below average are ,MEDIA ,ENGG_CG ,CONSTRUCTION ,CEMENT ,CHEMICALS ,POWER ,PHARMA ,IT.
* Low Roll%:
- Nifty: INFY, ONGC, ITC, LT, MARUTI, POWERGRID, HINDUNILVR, ULTRACEMCO
- Non-Nifty(front OI >$10m) :IDEA, LUPIN, MOTHERSUMI, CHOLAFIN, NMDC, BANDHANBNK, NAUKRI, DEEPAKNTR, SRTRANSFIN, SUNTV
* Below Average Roll%:
- Nifty: BAJFINANCE, ASIANPAINT, HCLTECH, HINDUNILVR, KOTAKBANK, INFY, CIPLA
- Non-Nifty(front OI >$10m) :SUNTV, LUPIN, BANDHANBNK, MOTHERSUMI, ZEEL, CHOLAFIN, NMDC, SRTRANSFIN, AUROPHARMA, NATIONALUM
Open Interest Activity
Nifty Stock :
Long Buildup : ONGC | MARUTI
Short Buildup : INDUSTOWER | KOTAKBANK | LT | ICICIBANK
Long Liquidation : BHEL | ADANIPORTS | GAIL | HDFC | TATASTEEL
Non-Nifty Stock :
Long Buildup : PNB
Short Covering : L&TFH | MFSL | SIEMENS | VOLTAS
Short Buildup : NMDC | LICHSGFIN | | | | | | | |
Long Liquidation : COFORGE | MUTHOOTFIN | SHREECEM | BHARATFORG | IBULHSGFIN | BHEL | CHOLAFIN | MCDOWELL-N | SUNTV | DIVISLAB
Options Chain
Nifty
24-Jun-21
- Max Call OI is @ 15800 with ,(109k ctcs ) ; 15900 (87k ctcs )
- Max Put OI is @ 15500 with ,(71k ctcs ) ; 15600 (63k ctcs )
- Call added OI is @ 15800 (41k ctcs ); 15750 (29k ctcs )
- Put added OI is @ 15550 (21k ctcs ); 15600 (19k ctcs )
BankNifty
- Max Call OI is @ 35000 with ,(108k ctcs ) ; 36500 (76k ctcs )
- Max Put OI is @ 34000 with ,(60k ctcs ) ; 33000 (55k ctcs )
- Call added OI is @ 36500 (41k ctcs ); 34800 (25k ctcs )
- Put added OI is @ 35000 (11k ctcs ); 34000 (9k ctcs )
EARNINGS:
* Ashok Leyland Ltd. (AL) 4Q
* Future Supply Chain Solutions (FSCSL) 4Q
* Mishra Dhatu Nigam Ltd. (MIDHANI) 4Q
* Oil & Natural Gas Corp. (ONGC) 4Q
* PTC India Ltd. (PTCIN) 4Q
* Take Solutions Ltd. (TAKE) 4Q
* West Coast Paper Mills (WCPM) 4Q
ON THE RADAR/
EQUITY PREVIEW:
* Adani Ports (ADSEZ): Declines to comment on KLP Fund share sale report
* Orchid Pharma (ORCP): Says founder plan to sell up to 3.28m shares
* Piramal Enterprises (PIEL): To consider raising funds up to INR10b on June 28
* All Eyes on Aramco Deal When Ambani Addresses Reliance Investors
* ‘Big Bull’ Investor Sees Years of Double-Digit India Stock Gains
* Inflation Worries Trigger Record Sales of Floaters: India Credit
* PETA Goes on Attack in India Over Milk Giant’s Treatment of Cows
* Banks Recover About $1 Billion From Indian Ex-Billionaire Mallya
* Lenders sell Vijay Mallya’s stake in United Breweries
* India April FDI Inflow $6.24B, up 38% Y/y: Govt Statement
* Fitch Upgrades Reliance to Higher Than India’s Sovereign Rating
* TPG-Backed Online Pharmacy Said to Seek Fund at $4 Billion Value
* API Holdings is considering raising about $300 million
* Suraksha ARC Wins Bid Jaypee Infratech By A Small Margin: BQ
* BRICS Q3 CPI Forecast Steady; South Africa Up to 4.4%
* BRICS 2Q GDP Forecast Declines in Past Week
* Should Biden’s Democracy Alliance Include India?: Pankaj Mishra
* Global Funds Buy Net INR31.6B of India Stocks on Wednesday: NSE
* Domestic funds buy net 13.2b rupees of stocks
* Foreign Investors Sell Net INR6.8B of Indian Equities on June 22
* Foreigners Buy Net INR38.5B Indian Equity Derivatives Wednesday
MEDIA REPORTS:
* Govt eases norms for voice BPOs to make India global outsourcing hub: PTI
* Moody’s cuts India’s growth forecast to 9.6% for 2021: ToI
* UK high court rejects Nirav Modi’s appeal against extradition to India: HIN
GOVERNMENT (All times India Time):
* 11am: Prime Minister Narendra Modi will interact with participants of Toycathon-2021 via video conferencing.
* Prime Minister Narendra Modi holds all-party meeting on Jammu and Kashmir
CORPORATE BONDS:
* INDIA SHORT-TERM DEBT: JM Financial Properties, Axis Securities
* Axis Finance Plans to Sell up to INR2.5b Bonds on June 25
* India Grid Trust Plans to Sell Up to INR5b 10Y Bonds on June 25
* Shriram City Union Sells INR1b 10Y Bonds at 9%
* Tata Capital Financial Plans Up to INR1.5b Bond Sale on June 25
CORPORATE EVENTS:
* 8:30am: Sona BLW Precision Forgings hosts virtual listing ceremony of its shares after Initial Public Offering
* 9am: Shyam Metalics & Energy hosts virtual listing ceremony of its shares after IPO
* 11am: Allcargo Logistics hosts confernce call on 4Q FY21 earnings
* 11:30am: CIA host a virtual press meet for the launch and discuss the key findings from the SMB - Mega Survey Report 2021, conducted by CIA
* 12pm: S.P. Apparels hosts conference call to discuss 4Q FY21 results
* 12pm: V2 Retail hosts conference call to discuss 4Q FY21 earnings
* 12:30pm: realme to unveiling the latest smart audio product - realme Buds Q2
* 1pm: ICRA hosts a webinar on Covered Bonds
* 4pm: Techmanch Conference, India’s biggest digital marketing virtual conference on June 24-25
* 4pm: ICRIER hosts an event towards developing an understanding of the battery manufacturing and recycling ecosystem in India
* AGMs: Reliance Industries (2 p.m.); Shriram Transport Finance (2 p.m.); Bank of Maharashtra (11 a.m.), Linde India (10 a.m.),Rallis India (3 p.m.)
OFFERINGS:
* India Pesticides IPO fully subscribed, gets 129% demand on first day of sale, offer closes June 25
* Dodla Dairy shares to start trading after IPO gets 45.6 times demand for shares offered
* KIMS Hospitals shares to start trading after IPO gets 3.9 times demand for shares on sale
* API Holdings is considering raising about $300 million
* Suraksha ARC Wins Bid Jaypee Infratech By A Small Margin: BQ
* BRICS Q3 CPI Forecast Steady; South Africa Up to 4.4%
* BRICS 2Q GDP Forecast Declines in Past Week
* Should Biden’s Democracy Alliance Include India?: Pankaj Mishra
* Global Funds Buy Net INR31.6B of India Stocks on Wednesday: NSE
* Domestic funds buy net 13.2b rupees of stocks
* Foreign Investors Sell Net INR6.8B of Indian Equities on June 22
* Foreigners Buy Net INR38.5B Indian Equity Derivatives Wednesday
MEDIA REPORTS:
* Govt eases norms for voice BPOs to make India global outsourcing hub: PTI
* Moody’s cuts India’s growth forecast to 9.6% for 2021: ToI
* UK high court rejects Nirav Modi’s appeal against extradition to India: HIN
GOVERNMENT (All times India Time):
* 11am: Prime Minister Narendra Modi will interact with participants of Toycathon-2021 via video conferencing.
* Prime Minister Narendra Modi holds all-party meeting on Jammu and Kashmir
CORPORATE BONDS:
* INDIA SHORT-TERM DEBT: JM Financial Properties, Axis Securities
* Axis Finance Plans to Sell up to INR2.5b Bonds on June 25
* India Grid Trust Plans to Sell Up to INR5b 10Y Bonds on June 25
* Shriram City Union Sells INR1b 10Y Bonds at 9%
* Tata Capital Financial Plans Up to INR1.5b Bond Sale on June 25
CORPORATE EVENTS:
* 8:30am: Sona BLW Precision Forgings hosts virtual listing ceremony of its shares after Initial Public Offering
* 9am: Shyam Metalics & Energy hosts virtual listing ceremony of its shares after IPO
* 11am: Allcargo Logistics hosts confernce call on 4Q FY21 earnings
* 11:30am: CIA host a virtual press meet for the launch and discuss the key findings from the SMB - Mega Survey Report 2021, conducted by CIA
* 12pm: S.P. Apparels hosts conference call to discuss 4Q FY21 results
* 12pm: V2 Retail hosts conference call to discuss 4Q FY21 earnings
* 12:30pm: realme to unveiling the latest smart audio product - realme Buds Q2
* 1pm: ICRA hosts a webinar on Covered Bonds
* 4pm: Techmanch Conference, India’s biggest digital marketing virtual conference on June 24-25
* 4pm: ICRIER hosts an event towards developing an understanding of the battery manufacturing and recycling ecosystem in India
* AGMs: Reliance Industries (2 p.m.); Shriram Transport Finance (2 p.m.); Bank of Maharashtra (11 a.m.), Linde India (10 a.m.),Rallis India (3 p.m.)
OFFERINGS:
* India Pesticides IPO fully subscribed, gets 129% demand on first day of sale, offer closes June 25
* Dodla Dairy shares to start trading after IPO gets 45.6 times demand for shares offered
* KIMS Hospitals shares to start trading after IPO gets 3.9 times demand for shares on sale
Macquarie on Sobha
Downgrading to Neutral, TP raised to Rs480 on a lower discount to NAV, lower land payments, & net debt
Highest-ever presales volume in 4Q & robust collections led to further deleveraging
Management targets a net debt/equity of 1.1x by mid-FY23
Downgrading to Neutral, TP raised to Rs480 on a lower discount to NAV, lower land payments, & net debt
Highest-ever presales volume in 4Q & robust collections led to further deleveraging
Management targets a net debt/equity of 1.1x by mid-FY23
Orchid Pharma OFS - MEGA DISCOUNT 👍
Non-retail date - 24 June
Retail bid date - 25 June
Floor Price - 375/-
Today's close - 1,325/-
Discount from previous close : 72%
Base OFS Size : 32,80,115 Shares
Greenshoe Option : NIL
Retail Discount - NIL
Retail Reservation - 10%
Non-retail date - 24 June
Retail bid date - 25 June
Floor Price - 375/-
Today's close - 1,325/-
Discount from previous close : 72%
Base OFS Size : 32,80,115 Shares
Greenshoe Option : NIL
Retail Discount - NIL
Retail Reservation - 10%