RPower to sell Samalkot project equipment to cut debt - Business Line - https://www.thehindubusinessline.com/companies/rpower-to-sell-samalkot-project-equipment-to-cut-debt/article35019269.ece
BusinessLine
RPower to sell Samalkot project equipment to cut debt
Export of equipment to Bangladesh to fetch ₹1,500 cr
We are waiting to source solar panels from Reliance: JSW Energy
Companies
Suresh P Iyengar
Updated on June 28, 2021
Prashant Jain, MD
Prashant Jain, MD
Tags:renewable energy solar JSW Energy Ltd
Spike in solar panel prices will have an impact on power tariffs in future bids, says Prashant Jain, Joint Managing Director, JSW Energy
After reducing debt substantially, JSW Energy has hit the growth button with a Rs 75,000-crore investment plan. The company has reduced receivables from power distribution companies by 38 per cent to Rs 1,300 crore as of March-end. With the revival in demand, the company is focusing on green energy for future expansion. Joint Managing Director, JSW Energy, Prashant Jain, spoke to BusinessLine on its future plans. Excerpts:
What are your expansion plans?
The board has approved capacity expansion by 20 GW by FY30 with investment of Rs 75,000 crore. During this quarter, we have signed a PPA (power purchase agreement) of 958 MW between JSW Steel and JSW Energy to supply green power by solar and wind energy. With this, our PPA portfolio will increase to 1260 MW. We will commission 2.5 GW of green power by FY’23. In all, we will be a 7 GW company by June 2023 and our renewal portfolio will increase from 33 per cent to 65 per cent. Thereafter, we will add fresh capacity of 2 GW every year.
Companies
Suresh P Iyengar
Updated on June 28, 2021
Prashant Jain, MD
Prashant Jain, MD
Tags:renewable energy solar JSW Energy Ltd
Spike in solar panel prices will have an impact on power tariffs in future bids, says Prashant Jain, Joint Managing Director, JSW Energy
After reducing debt substantially, JSW Energy has hit the growth button with a Rs 75,000-crore investment plan. The company has reduced receivables from power distribution companies by 38 per cent to Rs 1,300 crore as of March-end. With the revival in demand, the company is focusing on green energy for future expansion. Joint Managing Director, JSW Energy, Prashant Jain, spoke to BusinessLine on its future plans. Excerpts:
What are your expansion plans?
The board has approved capacity expansion by 20 GW by FY30 with investment of Rs 75,000 crore. During this quarter, we have signed a PPA (power purchase agreement) of 958 MW between JSW Steel and JSW Energy to supply green power by solar and wind energy. With this, our PPA portfolio will increase to 1260 MW. We will commission 2.5 GW of green power by FY’23. In all, we will be a 7 GW company by June 2023 and our renewal portfolio will increase from 33 per cent to 65 per cent. Thereafter, we will add fresh capacity of 2 GW every year.
*The Chinese dragon : An eye opener - by Rajiv Bajaj*
A couple of WhatsApp group that I am a member of should be renamed China problem groups. 90% of discussions is on how China hijacked the world economy and how they do not deserve to do so and how all politicians have let us down and how they are stealing all intellectual property and how we are doomed if we do not stop downloading tiktok.
All true. And no, this article is not about disagreeing with this narrative. This article is not about the fact that an average Chinese student in US beats the shit of all other students (including Indians) in terms of hours she works and the only disadvantage she has is that her English is not good enough, but she is getting there. No this article is not about the fact that the people of China worked their butts out while Italians holidayed and French wanted a 4 day week. No this article is not about the fact that you cannot hire a decent machinist or a forger in India because all of them are sitting in call centers answering questions from technically challenged Americans. Of course, I agree and support the view that China and it’s people do not deserve the place they have reached (I don’t want to be trolled). They are thieves, they do not take 4-week holidays. They should be punished.
So what is this article about? This is about an industry where China has been beaten by India. It has been shown that it’s not the government, neither the people, it’s really the companies that compete. And as far as India is concerned the people responsible for the demise of manufacturing are these companies.
Year 1983, I pass out of Engineering college in Mumbai considered to be one of the best. Irrespective of the branch that you have studied—Mechanical, Electrical, Civil, Production, Textile, 80% become coders for the software industry. Year 2000, I am at Bajaj Auto as HR head (after working for 15 years as a technical person), and am off to conduct campus interviews, to hire 100 Engineers who will build the 100-cc engine of a motorcycle. I am day 5 in VJTI and all other RECs. I end up hiring 10 people from 15 colleges. In every college I am told by the Training and Placement officer (TPO) that technology companies get preference. I say I don’t understand, is building an Engine not technology? No that’s manufacturing. Writing Cobal code for a bank in New York by a TCS employee is technology. May be the Chinese forced us to do this.
Next year I write to all colleges. I want to be day 0 in your campus. I will give three times salary of the best “so called technology company”, but only if I am day 0. Hiring 100 Engineers at three times salary was no problem for me as compared to TCS, which had to hire 2000 “Bodies”. They could never match that salary.
And that’s how Bajaj Auto built its R&D. Batch by Batch. Making designing and manufacturing of motorcycles sexy and paying for it. The selection ratio was 1:15. Most of the IITs, RECs, and VJTIs had toppers who were absolutely useless. They could not draw a Carnot cycle, could not tell the difference between a diesel and petrol engine. Give them an elevation and plan they could not draw the side view. Most of them were focusing on writing code. But we found gems, we found guys who were passionate and knowledgeable but could not express in English. I started conducting interviews in Hindi, Marathi, Telugu, Tamil and so on.
There was another company doing the same TVS. South based they also built a great R&D.
Year 2005, Chinese motorcycles attacked India with products which were 30% cheaper. Many dealers started selling them. Press predicted demise of Indian manufacturers. Within 6 months they went broke. Their quality was no match to Indian motorcycles. They never came back again.
Bajaj then started attacking them in Africa. Africans had two choices; buy expensive Japanese motorcycles or cheap Chinese. Chinese motorcycles used to come in a box. You buy the box and take it to a mechanic and he will assemble it. In Nigeria motorcycles are used as taxis. So no one is going to pay you a dime more.
A couple of WhatsApp group that I am a member of should be renamed China problem groups. 90% of discussions is on how China hijacked the world economy and how they do not deserve to do so and how all politicians have let us down and how they are stealing all intellectual property and how we are doomed if we do not stop downloading tiktok.
All true. And no, this article is not about disagreeing with this narrative. This article is not about the fact that an average Chinese student in US beats the shit of all other students (including Indians) in terms of hours she works and the only disadvantage she has is that her English is not good enough, but she is getting there. No this article is not about the fact that the people of China worked their butts out while Italians holidayed and French wanted a 4 day week. No this article is not about the fact that you cannot hire a decent machinist or a forger in India because all of them are sitting in call centers answering questions from technically challenged Americans. Of course, I agree and support the view that China and it’s people do not deserve the place they have reached (I don’t want to be trolled). They are thieves, they do not take 4-week holidays. They should be punished.
So what is this article about? This is about an industry where China has been beaten by India. It has been shown that it’s not the government, neither the people, it’s really the companies that compete. And as far as India is concerned the people responsible for the demise of manufacturing are these companies.
Year 1983, I pass out of Engineering college in Mumbai considered to be one of the best. Irrespective of the branch that you have studied—Mechanical, Electrical, Civil, Production, Textile, 80% become coders for the software industry. Year 2000, I am at Bajaj Auto as HR head (after working for 15 years as a technical person), and am off to conduct campus interviews, to hire 100 Engineers who will build the 100-cc engine of a motorcycle. I am day 5 in VJTI and all other RECs. I end up hiring 10 people from 15 colleges. In every college I am told by the Training and Placement officer (TPO) that technology companies get preference. I say I don’t understand, is building an Engine not technology? No that’s manufacturing. Writing Cobal code for a bank in New York by a TCS employee is technology. May be the Chinese forced us to do this.
Next year I write to all colleges. I want to be day 0 in your campus. I will give three times salary of the best “so called technology company”, but only if I am day 0. Hiring 100 Engineers at three times salary was no problem for me as compared to TCS, which had to hire 2000 “Bodies”. They could never match that salary.
And that’s how Bajaj Auto built its R&D. Batch by Batch. Making designing and manufacturing of motorcycles sexy and paying for it. The selection ratio was 1:15. Most of the IITs, RECs, and VJTIs had toppers who were absolutely useless. They could not draw a Carnot cycle, could not tell the difference between a diesel and petrol engine. Give them an elevation and plan they could not draw the side view. Most of them were focusing on writing code. But we found gems, we found guys who were passionate and knowledgeable but could not express in English. I started conducting interviews in Hindi, Marathi, Telugu, Tamil and so on.
There was another company doing the same TVS. South based they also built a great R&D.
Year 2005, Chinese motorcycles attacked India with products which were 30% cheaper. Many dealers started selling them. Press predicted demise of Indian manufacturers. Within 6 months they went broke. Their quality was no match to Indian motorcycles. They never came back again.
Bajaj then started attacking them in Africa. Africans had two choices; buy expensive Japanese motorcycles or cheap Chinese. Chinese motorcycles used to come in a box. You buy the box and take it to a mechanic and he will assemble it. In Nigeria motorcycles are used as taxis. So no one is going to pay you a dime more.
*SERNET Midnight News Update – Jun 29th 2021*
Corporate India was almost unanimous in welcoming the COVID 4.0 stimulus announced by Nirmala Sitharaman on 28 June. The relief package included Rs.110,000 crore loan guarantee scheme for affected sectors as well as increasing the scope of ECLGS by Rs.150,000. The big decision to boost tourism demand was to offer free tourist visas to 5 lakh tourists in FY22. There has also been a major allocation to aiding health and also on public health infrastructure. The entire package will entail an additional $84 billion.
IPO listings continued to be robust on Monday after Shyam Metalics and Sona BLW reported stellar listings in the previous week. On Monday, Dodla Dairy listed at a premium of 28% but extended gains and closed with listing gains of nearly 48% on 28 June. KIMS also debuted on 28 June at a 22% premium over its issue price of Rs.825, but gave up 10% from higher levels on profit booking. Most Dalal Street experts have been suggesting to book profits in these IPOs after the stellar listing as short-term upsides would be capped.
SAT did an encore on Monday providing interim relief to Franklin Templeton Mutual Fund by partly staying the SEBI order. SAT stayed SEBI’s order banning Templeton from launching new debt schemes for 2 years. Against the disgorgement of Rs.512 crore, SAT allowed Templeton MF to deposit just Rs.250 crore upfront. However, SAT has reserved its final order. The SAT has termed SEBI’s directive to disgorge Rs.512 crore as being excessive. SAT posted the matter for final disposal on 30-Aug. FT MF has to respond in 4 weeks.
Hyderabad based Power Mech Projects secured Rs.9,294 crore Mine Development and Operation or MDO project from Central Coalfields Limited. This is part of the GOI’s asset monetisation drive. Coal India and NLC India will offer 60 projects worth Rs.41,042 crore for private investment; including 17 MDO projects. Central Coalfields is one of 7 subsidiaries of Coal India. The MDO contract will entail mine development, removal of overburden as well as extraction of coking coal. This will diversify Power Mech’s order book.
Finolex Industries rallied 15% on Monday to hit a new high of Rs.198.90 on the back of robust quarterly results. Finolex posted a 5-fold spurt in net profit at Rs.297 crore in the Mar-21 quarter on solid EBITDA margins in the quarter. Finolex is a backward integrated manufacturer of PVC pipes and fittings. For the Mar-21 quarter, Finolex reported 63% higher net sales at Rs.1,249 crore and a boost to EBITDA margins from 13.6% to 33.9% in Q4-2021. The company has announced a stock split, which is normally positive.
Standard Life, one of the original promotes of HDFC Life Insurance, plans to sell its 3.46% stake worth nearly Rs.4,606 crore. Currently, Standard Life Mauritius holds 8.88% in the joint venture. The shares are being offered in the range of Rs.658 to Rs.678, which represents a discount of up to 5.5% to the current market price of Rs.696. Standard Life has been selling down its stake in HDFC Life for quite some time now. In fact, it had sold a total of 3.37% stake in 2 tranches in June 2020 and later in December 2020.
SEBI has decided to keep the proposed IPO of Aditya Birla Sun Life AMC in abeyance for the time being, although no reason has been proffered for the same. It was structured as an offer-for sale where Aditya Birla Capital would offer 28.51 lakh shares and Sun Life AMC was to offer 3.6 crore shares in the OFS. At indicative valuations of the sector, the issue would have been worth up to Rs.2,000 crore. It would have been the fourth AMC to list after Nippon Life AMC, HDFC AMC and UTI Asset Management Company.
Emami has increased its stake in Helios Lifestyle from 33.09% to 45.96%. Helios is a direct-to-consumer start-up that sells male grooming products under branding of “The Man Company”. The idea was to help leverage the online franchise more effectively.
Corporate India was almost unanimous in welcoming the COVID 4.0 stimulus announced by Nirmala Sitharaman on 28 June. The relief package included Rs.110,000 crore loan guarantee scheme for affected sectors as well as increasing the scope of ECLGS by Rs.150,000. The big decision to boost tourism demand was to offer free tourist visas to 5 lakh tourists in FY22. There has also been a major allocation to aiding health and also on public health infrastructure. The entire package will entail an additional $84 billion.
IPO listings continued to be robust on Monday after Shyam Metalics and Sona BLW reported stellar listings in the previous week. On Monday, Dodla Dairy listed at a premium of 28% but extended gains and closed with listing gains of nearly 48% on 28 June. KIMS also debuted on 28 June at a 22% premium over its issue price of Rs.825, but gave up 10% from higher levels on profit booking. Most Dalal Street experts have been suggesting to book profits in these IPOs after the stellar listing as short-term upsides would be capped.
SAT did an encore on Monday providing interim relief to Franklin Templeton Mutual Fund by partly staying the SEBI order. SAT stayed SEBI’s order banning Templeton from launching new debt schemes for 2 years. Against the disgorgement of Rs.512 crore, SAT allowed Templeton MF to deposit just Rs.250 crore upfront. However, SAT has reserved its final order. The SAT has termed SEBI’s directive to disgorge Rs.512 crore as being excessive. SAT posted the matter for final disposal on 30-Aug. FT MF has to respond in 4 weeks.
Hyderabad based Power Mech Projects secured Rs.9,294 crore Mine Development and Operation or MDO project from Central Coalfields Limited. This is part of the GOI’s asset monetisation drive. Coal India and NLC India will offer 60 projects worth Rs.41,042 crore for private investment; including 17 MDO projects. Central Coalfields is one of 7 subsidiaries of Coal India. The MDO contract will entail mine development, removal of overburden as well as extraction of coking coal. This will diversify Power Mech’s order book.
Finolex Industries rallied 15% on Monday to hit a new high of Rs.198.90 on the back of robust quarterly results. Finolex posted a 5-fold spurt in net profit at Rs.297 crore in the Mar-21 quarter on solid EBITDA margins in the quarter. Finolex is a backward integrated manufacturer of PVC pipes and fittings. For the Mar-21 quarter, Finolex reported 63% higher net sales at Rs.1,249 crore and a boost to EBITDA margins from 13.6% to 33.9% in Q4-2021. The company has announced a stock split, which is normally positive.
Standard Life, one of the original promotes of HDFC Life Insurance, plans to sell its 3.46% stake worth nearly Rs.4,606 crore. Currently, Standard Life Mauritius holds 8.88% in the joint venture. The shares are being offered in the range of Rs.658 to Rs.678, which represents a discount of up to 5.5% to the current market price of Rs.696. Standard Life has been selling down its stake in HDFC Life for quite some time now. In fact, it had sold a total of 3.37% stake in 2 tranches in June 2020 and later in December 2020.
SEBI has decided to keep the proposed IPO of Aditya Birla Sun Life AMC in abeyance for the time being, although no reason has been proffered for the same. It was structured as an offer-for sale where Aditya Birla Capital would offer 28.51 lakh shares and Sun Life AMC was to offer 3.6 crore shares in the OFS. At indicative valuations of the sector, the issue would have been worth up to Rs.2,000 crore. It would have been the fourth AMC to list after Nippon Life AMC, HDFC AMC and UTI Asset Management Company.
Emami has increased its stake in Helios Lifestyle from 33.09% to 45.96%. Helios is a direct-to-consumer start-up that sells male grooming products under branding of “The Man Company”. The idea was to help leverage the online franchise more effectively.
Helios manufactures premium male grooming products including face wash, scrubs, beard oils, shampoos and after-shave lotions for men. India’s male grooming market is estimated at Rs.14,000 crore and growing at a compound annual growth rate of 15.14% till 2024.
*Good Morning*
India Expands Credit Relief, Unveils New Covid Recovery Aid
Modi: Steps to stimulate India economy, boost output, export
India Top Court Agrees to Hear SBI Plea on Telecom Airwaves Sale
India’s IOC Increases Crude Processing as Fuel Demand Rebounds
Cotton Group Urges Indian Government to Abolish 10% Import Duty
Talcher Fertilizers to Borrow INR95.6B From Banks Led by SBI
India Cumulative Monsoon Rainfall 16% Above Normal at June 28
Emerging- Market ETFs Lure More Cash as Streak Nears $50 Billion
Global Funds Sell Net INR16.6B of India Stocks on Monday: NSE
Domestic funds buy net 12.8b rupees of stocks
Foreign Investors Sell Net INR1.79B of India Equities on June 25
Foreigners Sell Net INR2.13B of India Equity Derivatives Monday
India Shifts 50,000 Troops to China Border in Historic Move
Situation at border with India generally stable: China: PTI
Grofers Plans Stake Sale to Zomato, Tiger Global, CNBC-TV18 Says
India Court Stays SEBI Order on Franklin India Debt Funds: PTI
Sebi keeps Aditya Birla Sun Life’s IPO in abeyance: PTI
Banks need to operate on lower margins: SBI official: PTI
Hindustan Aeronautics (HNAL): 4Q net income 16.1b rupees vs. 12.4b y/y; revenue +4.1% y/y to 107.4b
National Aluminium (NACL): 4Q net income 9.36b rupees vs. 1.03b y/y, beats est. 3.05b; revenue +45% y/y to 28.2b
Piramal Enterprises (PIEL): Approves allotment of shares at INR1,300 apiece to CCD holders
Sharika Enterprises (SHARIKA): Wins order from Indian Oil (IOCL) for bio-gas plant under SATATScheme
India Expands Credit Relief, Unveils New Covid Recovery Aid
Modi: Steps to stimulate India economy, boost output, export
India Top Court Agrees to Hear SBI Plea on Telecom Airwaves Sale
India’s IOC Increases Crude Processing as Fuel Demand Rebounds
Cotton Group Urges Indian Government to Abolish 10% Import Duty
Talcher Fertilizers to Borrow INR95.6B From Banks Led by SBI
India Cumulative Monsoon Rainfall 16% Above Normal at June 28
Emerging- Market ETFs Lure More Cash as Streak Nears $50 Billion
Global Funds Sell Net INR16.6B of India Stocks on Monday: NSE
Domestic funds buy net 12.8b rupees of stocks
Foreign Investors Sell Net INR1.79B of India Equities on June 25
Foreigners Sell Net INR2.13B of India Equity Derivatives Monday
India Shifts 50,000 Troops to China Border in Historic Move
Situation at border with India generally stable: China: PTI
Grofers Plans Stake Sale to Zomato, Tiger Global, CNBC-TV18 Says
India Court Stays SEBI Order on Franklin India Debt Funds: PTI
Sebi keeps Aditya Birla Sun Life’s IPO in abeyance: PTI
Banks need to operate on lower margins: SBI official: PTI
Hindustan Aeronautics (HNAL): 4Q net income 16.1b rupees vs. 12.4b y/y; revenue +4.1% y/y to 107.4b
National Aluminium (NACL): 4Q net income 9.36b rupees vs. 1.03b y/y, beats est. 3.05b; revenue +45% y/y to 28.2b
Piramal Enterprises (PIEL): Approves allotment of shares at INR1,300 apiece to CCD holders
Sharika Enterprises (SHARIKA): Wins order from Indian Oil (IOCL) for bio-gas plant under SATATScheme
*SGX Nifty +11 pts (15873) from last trade 15862 ,*
Nikkei -208 pts ,
Hangseng +24 pts ,
Now @6.58am .
Dow -150.57 pts ,Nsdq +140.12 pts, S&P
+9.91 pts, , Bovespa +173 pts , Ftse -63 pts , Dax -53 pts , Cac -64 pts , Crude @ $72.81 brl (-0.10), Brent @ $74.68 brl (+0.12) , Gold @ 1777.70 (-3.00), Silver @ $26.165 (-0.05), Euro @ $1.1925, JPY @ $110.60, INR @ 74.275
*Today's Corporate Action*
*29th Jun Ex Date*
HAPPSTMNDS
Final Dividend - Rs. - 3.0000
HDFCAMC
Dividend - Rs. - 34.0000
HDFCBANK
Dividend - Rs. - 6.5000
KHAICHEM
Final Dividend - Rs. - 0.1500
NEULANDLAB
Final Dividend - Rs. - 3.0000
SAGARSOFT
Dividend - Rs. - 2.5000
*Today's Key Results/Board Meetings*
*29-Jun-21*
Acme Resources, Cochin Minerals & Rutile, DCM, IRCTC, Omaxe, Ruchi Soya, Sintex Industries, Suzlon Energy and Tatia Global Vennture are among the companies that will announce their March quarter earnings on June 29.
*Stock under F&O ban on NSE*
*29-Jun-21*
1NATIONALUM
Nikkei -208 pts ,
Hangseng +24 pts ,
Now @6.58am .
Dow -150.57 pts ,Nsdq +140.12 pts, S&P
+9.91 pts, , Bovespa +173 pts , Ftse -63 pts , Dax -53 pts , Cac -64 pts , Crude @ $72.81 brl (-0.10), Brent @ $74.68 brl (+0.12) , Gold @ 1777.70 (-3.00), Silver @ $26.165 (-0.05), Euro @ $1.1925, JPY @ $110.60, INR @ 74.275
*Today's Corporate Action*
*29th Jun Ex Date*
HAPPSTMNDS
Final Dividend - Rs. - 3.0000
HDFCAMC
Dividend - Rs. - 34.0000
HDFCBANK
Dividend - Rs. - 6.5000
KHAICHEM
Final Dividend - Rs. - 0.1500
NEULANDLAB
Final Dividend - Rs. - 3.0000
SAGARSOFT
Dividend - Rs. - 2.5000
*Today's Key Results/Board Meetings*
*29-Jun-21*
Acme Resources, Cochin Minerals & Rutile, DCM, IRCTC, Omaxe, Ruchi Soya, Sintex Industries, Suzlon Energy and Tatia Global Vennture are among the companies that will announce their March quarter earnings on June 29.
*Stock under F&O ban on NSE*
*29-Jun-21*
1NATIONALUM
*Good Morning & Welcome to Tuesday’s trading action at Dalal Street dated 29th of June 2021.*
Overnight at Wall Street, the Nasdaq and S&P 500 steered to a fresh all-time highs.
The Nasdaq advanced by 1.0% to a record close of 14,500. The S&P 500's 0.2% gain wasn't as robust, but was enough for a new high of 4,290. The Dow retreated, however, declining 0.4% to 34,283.
*7 AM GLOBAL UPDATE*
• SGX Nifty (+10, 15884)
• DOW JONES (-151, 34283)
• NASDAQ (+140, 14501)
• BOVESPA (+174, 127429)
• NIKKEI (-216, 28832)
• HANG SENG (+23, 29292)
*OUTLOOK & INSIGHTS:*
• Global: Neutral.
• FII: Negative (-1658.72 Cr)
• DII: Positive (+1277.08 Cr)
• F&O: 15500-16200 zone
• Trend: Up
• Sentiment: Bullish
• Technicals: Overbought
• Theme: Nifty 16000+.
*All ABOUT NIFTY & BANK NIFTY*
*NIFTY (CMP 15815):*
• SUPPORT: 15673/15449
• RESISTANCE: 15927/16251
• RANGE: 15757-15957
• BIAS: Positive.
*BANK NIFTY (CMP 35359):*
• SUPPORT: 34495/33732
• RESISTANCE: 35811/37709
• RANGE: 34901-36001
• BIAS: Positive.
*THEME OF THE DAY:*
• SGX Nifty is seen wavering above the dotted lines as sentiments are bit dented by concerns about a spike in coronavirus infections in Asia with Australia's most populous city of Sydney plunging into a lockdown after a cluster of cases involving the highly contagious Delta strain ballooned. Indonesia too is battling record high cases while a lockdown in Malaysia is set to be extended. Thailand too announced new restrictions in Bangkok and other provinces.
• Our call of the day suggests that after a positive open Dalal Street could waver as trading sentiments could be dented by concerns about a spike in coronavirus infections in Asia.
• Technically speaking, Nifty could charge out to higher range on any close above 15927 mark. Nifty’s make-or-break long-term supports are placed at 15459 mark. Intraday support at 15673 mark.
• NALCO posted a standalone profit of Rs 935.64 crore against Rs 102.76 crore and revenue was up at Rs 2,821.48 crore against Rs 1,935.86 crore, YoY.
• Standard Life to sell 3.46 percent stake in HDFC Life; price band at Rs 658- Rs 678 per share.
• *Q4 Results to trickle in today:* IRCTC.
• Our *chart of the day* is bullish on stocks like GRASIM, TATA MOTORS, MINDTREE, TECH MAHINDRA and BANK OF BARODA with an interweek perspective.
• *SHOW ME THE MONEY:* Momentum Call: Buy MINDTREE JULY Futures for 0-3 days at CMP 2553 for an objective of 2701. Stop 2481. Alert: BREAKOUT PLAY.
*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, the Nasdaq and S&P 500 steered to a fresh all-time highs.
The Nasdaq advanced by 1.0% to a record close of 14,500. The S&P 500's 0.2% gain wasn't as robust, but was enough for a new high of 4,290. The Dow retreated, however, declining 0.4% to 34,283.
*7 AM GLOBAL UPDATE*
• SGX Nifty (+10, 15884)
• DOW JONES (-151, 34283)
• NASDAQ (+140, 14501)
• BOVESPA (+174, 127429)
• NIKKEI (-216, 28832)
• HANG SENG (+23, 29292)
*OUTLOOK & INSIGHTS:*
• Global: Neutral.
• FII: Negative (-1658.72 Cr)
• DII: Positive (+1277.08 Cr)
• F&O: 15500-16200 zone
• Trend: Up
• Sentiment: Bullish
• Technicals: Overbought
• Theme: Nifty 16000+.
*All ABOUT NIFTY & BANK NIFTY*
*NIFTY (CMP 15815):*
• SUPPORT: 15673/15449
• RESISTANCE: 15927/16251
• RANGE: 15757-15957
• BIAS: Positive.
*BANK NIFTY (CMP 35359):*
• SUPPORT: 34495/33732
• RESISTANCE: 35811/37709
• RANGE: 34901-36001
• BIAS: Positive.
*THEME OF THE DAY:*
• SGX Nifty is seen wavering above the dotted lines as sentiments are bit dented by concerns about a spike in coronavirus infections in Asia with Australia's most populous city of Sydney plunging into a lockdown after a cluster of cases involving the highly contagious Delta strain ballooned. Indonesia too is battling record high cases while a lockdown in Malaysia is set to be extended. Thailand too announced new restrictions in Bangkok and other provinces.
• Our call of the day suggests that after a positive open Dalal Street could waver as trading sentiments could be dented by concerns about a spike in coronavirus infections in Asia.
• Technically speaking, Nifty could charge out to higher range on any close above 15927 mark. Nifty’s make-or-break long-term supports are placed at 15459 mark. Intraday support at 15673 mark.
• NALCO posted a standalone profit of Rs 935.64 crore against Rs 102.76 crore and revenue was up at Rs 2,821.48 crore against Rs 1,935.86 crore, YoY.
• Standard Life to sell 3.46 percent stake in HDFC Life; price band at Rs 658- Rs 678 per share.
• *Q4 Results to trickle in today:* IRCTC.
• Our *chart of the day* is bullish on stocks like GRASIM, TATA MOTORS, MINDTREE, TECH MAHINDRA and BANK OF BARODA with an interweek perspective.
• *SHOW ME THE MONEY:* Momentum Call: Buy MINDTREE JULY Futures for 0-3 days at CMP 2553 for an objective of 2701. Stop 2481. Alert: BREAKOUT PLAY.
*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 July Futures ended Monday’s session at a premium of +47 vs premium of +20.
• The 01st July expiry Put-Call Open Interest Ratio was at 0.73 for Nifty whereas it was 0.79 for Bank Nifty.
• The 01st July expiry Put-Call Volume Ratio was at 0.89 for the Nifty and 0.82 for Bank Nifty.
• For Nifty, Maximum Call Open Interest (OI) stands at 16000 Strike Price, followed by 15900 Strike Price for 01st July Series. Short buildup was seen at strike prices 15800-16200.
• Maximum Put Open Interest (OI) was seen at strike price 15800 followed by 15500 strike prices for 01st July series. Long buildup was seen at strike prices 15800-16200.
• For Bank Nifty, Maximum Call Open Interest (OI) stands at 35500 Strike Price and Maximum Put Open Interest stands at 35000 Strike Price.
• As per Monday’s Provisional Data available on the NSE, FIIs sold shares worth Rs. 1658.72 crores in the Indian Equity Market. DIIs on the other hand bought shares worth Rs. 1277.08 crores in the Indian Equity market.
• Long Buildup: SAIL, JINDALSTEL, TATASTEEL.
• Short Buildup: HDFCLIFE, SUNTV, RELIANCE, TITAN.
• Short Covering: NMDC, UBL, GUJGAS, TATACONSUM.
• Long Unwinding: BAJFINANCE, BAJAJFINSV, LTTS.
• Stocks banned in F&O segment: NATIONALUM.
• New in Ban: NATIONALUM.
• Out of Ban: NIL.
8 AM.
*Market Summary:*
• Nifty July Futures ended Monday’s session at a premium of +47 vs premium of +20.
• The 01st July expiry Put-Call Open Interest Ratio was at 0.73 for Nifty whereas it was 0.79 for Bank Nifty.
• The 01st July expiry Put-Call Volume Ratio was at 0.89 for the Nifty and 0.82 for Bank Nifty.
• For Nifty, Maximum Call Open Interest (OI) stands at 16000 Strike Price, followed by 15900 Strike Price for 01st July Series. Short buildup was seen at strike prices 15800-16200.
• Maximum Put Open Interest (OI) was seen at strike price 15800 followed by 15500 strike prices for 01st July series. Long buildup was seen at strike prices 15800-16200.
• For Bank Nifty, Maximum Call Open Interest (OI) stands at 35500 Strike Price and Maximum Put Open Interest stands at 35000 Strike Price.
• As per Monday’s Provisional Data available on the NSE, FIIs sold shares worth Rs. 1658.72 crores in the Indian Equity Market. DIIs on the other hand bought shares worth Rs. 1277.08 crores in the Indian Equity market.
• Long Buildup: SAIL, JINDALSTEL, TATASTEEL.
• Short Buildup: HDFCLIFE, SUNTV, RELIANCE, TITAN.
• Short Covering: NMDC, UBL, GUJGAS, TATACONSUM.
• Long Unwinding: BAJFINANCE, BAJAJFINSV, LTTS.
• Stocks banned in F&O segment: NATIONALUM.
• New in Ban: NATIONALUM.
• Out of Ban: NIL.
*Trading Tweaks*
*List of securities shortlisted in ASM Framework w.e.f. June 29, 2021*
1. DCM Shriram Industries Ltd
2. Deepak Spinners Ltd
3. Ajmera Realty & Infra India Ltd*
4. CCL International Ltd
5. HB Portfolio Ltd
6. KJMC Corporate Advisors (India) Ltd
7. Mahaan Foods Ltd
8. Mega Corporation Ltd
9. NCL Research & Financial Services Ltd
10. Omni AXs Software Ltd
11. Sybly Industries Ltd
12. Vivanza Biosciences Ltd
13. Laxmipati Engineering Works Ltd
14. SSPN Finance Ltd
*List of securities shortlisted in ASM for Companies relating to the Insolvency Resolution Process (IRP) as per Insolvency and Bankruptcy Code (IBC) w.e.f. June 29, 2021*
1. Jyoti Structures Ltd
2. Jet Airways (India) Ltd
*List of securities which shall continue in ASM framework but shall be moved to respective higher Stage ASM w.e.f. June 29, 2021*
1. Alexander Stamps And Coin Ltd
2. Mafatlal Industries Ltd
3. Sungold Media and Entertainment Ltd
*List of securities shortlisted in Short Term 5/15/30 Days ASM Framework w.e.f. June 29, 2021*
1. IM+ CAPITALS LIMITED
2. KRYPTON INDUSTRIES LTD.
3. NATIONAL PLASTIC INDUSTRIES LT
4. SWARNSARITA GEMS LIMITED
5. TYROON TEA CO.LTD.
6. INTEGRA TELECOMMUNICATION & SO
7. MARG TECHNO PROJECTS LIMITED
8. MEDIA MATRIX WORLDWIDE LTD.
9. ORACLE CREDIT LIMITED
10. Ganges Securities Limited*
11. Lotus Eye Hospital and Institute Limited*
12. GeeCee Ventures Limited*
*List of securities which shall continue in Short Term 5/15/30 Days ASM framework but shall be moved to respective higher Stage ASM w.e.f. June 29, 2021*
1. CG-VAK SOFTWARE & EXPORTS LTD.
2. GOLKUNDA DIAMONDS & JEWELLERY
3. SUPER TANNERY LIMITED
*List of securities which shall continue in Short Term 5/15 Days ASM framework but shall be moved to respective lower Stage ASM w.e.f. June 29, 2021*
1. SIMPLEX MILLS COMPANY LTD.
*List of securities moving out of Short Term ASM Framework w.e.f. June 29, 2021*
1. HB STOCKHOLDINGS LTD.
2. MEGA NIRMAN & INDUSTRIES LIMITED
3. POLYSPIN EXPORTS LTD.
4. TIMES GUARANTY LTD.
5. VIKAS WSP LTD.
6. BHILWARA TECHNICAL TEXTILES LT
7. K&R RAIL ENGINEERING LIMITED
8. MITSHI INDIA LIMITED
9. OZONE WORLD LIMITED
10. REAL STRIPS LTD.
11. AJMERA REALTY & INFRA INDIA LTD.
12. Mahaan Foods Ltd
13. Mega Corporation Ltd
14. NCL Research & Financial Services Ltd
15. Omni AXs Software Ltd
16. Vivanza Biosciences Ltd
*Graded Surveillance Measure (GSM) - List of securities moving into their respective GSM Stages with effect from June 29, 2021*
1. Omkar Overseas Ltd - Moved to GSM Stage 1
2. Magnum Ventures Ltd* - Moved to GSM Stage 1
3. Munoth Communication Ltd - Moved to GSM Stage 2
4. Deccan Polypacks Ltd - Moved to GSM Stage 2
5. Hipolin Ltd - Moved to GSM Stage 2
6. Ramchandra Leasing & Finance Ltd - Moved to GSM Stage 2
7. Uniworth Ltd - Moved to GSM Stage 3
8. Mahan Industries Ltd - Moved to GSM Stage 3
*CHANGE IN CIRCUIT FILTER with effect from June 29, 2021.*
1. Vineet Laboratories Ltd – 20%
2. Uttam Sugar Mills Ltd – 10%
3. Welspun Investments and Commercials Ltd – 10%
4. Tanvi Foods (India) Ltd – 10%
5. Avadh Sugar & Energy Ltd – 5%
6. Kesar Enterprises Ltd – 5%
7. Ponni Sugars (Erode) Ltd – 5%
8. Sungold Media and Entertainment Ltd – 5%
9. Duroply Industries Ltd – 5%
10. Supreme Holdings & Hospitality (India) Ltd – 2%
11. Shree Rama Multi-Tech Ltd – 2%
12. Zim Laboratories Ltd – 2%
13. Polychem Ltd – 2%
14. JPT Securities Ltd – 2%
15. Baroda Extrusion Ltd – 2%
16. Explicit Finance Ltd – 2%
*List of securities shortlisted in ASM Framework w.e.f. June 29, 2021*
1. DCM Shriram Industries Ltd
2. Deepak Spinners Ltd
3. Ajmera Realty & Infra India Ltd*
4. CCL International Ltd
5. HB Portfolio Ltd
6. KJMC Corporate Advisors (India) Ltd
7. Mahaan Foods Ltd
8. Mega Corporation Ltd
9. NCL Research & Financial Services Ltd
10. Omni AXs Software Ltd
11. Sybly Industries Ltd
12. Vivanza Biosciences Ltd
13. Laxmipati Engineering Works Ltd
14. SSPN Finance Ltd
*List of securities shortlisted in ASM for Companies relating to the Insolvency Resolution Process (IRP) as per Insolvency and Bankruptcy Code (IBC) w.e.f. June 29, 2021*
1. Jyoti Structures Ltd
2. Jet Airways (India) Ltd
*List of securities which shall continue in ASM framework but shall be moved to respective higher Stage ASM w.e.f. June 29, 2021*
1. Alexander Stamps And Coin Ltd
2. Mafatlal Industries Ltd
3. Sungold Media and Entertainment Ltd
*List of securities shortlisted in Short Term 5/15/30 Days ASM Framework w.e.f. June 29, 2021*
1. IM+ CAPITALS LIMITED
2. KRYPTON INDUSTRIES LTD.
3. NATIONAL PLASTIC INDUSTRIES LT
4. SWARNSARITA GEMS LIMITED
5. TYROON TEA CO.LTD.
6. INTEGRA TELECOMMUNICATION & SO
7. MARG TECHNO PROJECTS LIMITED
8. MEDIA MATRIX WORLDWIDE LTD.
9. ORACLE CREDIT LIMITED
10. Ganges Securities Limited*
11. Lotus Eye Hospital and Institute Limited*
12. GeeCee Ventures Limited*
*List of securities which shall continue in Short Term 5/15/30 Days ASM framework but shall be moved to respective higher Stage ASM w.e.f. June 29, 2021*
1. CG-VAK SOFTWARE & EXPORTS LTD.
2. GOLKUNDA DIAMONDS & JEWELLERY
3. SUPER TANNERY LIMITED
*List of securities which shall continue in Short Term 5/15 Days ASM framework but shall be moved to respective lower Stage ASM w.e.f. June 29, 2021*
1. SIMPLEX MILLS COMPANY LTD.
*List of securities moving out of Short Term ASM Framework w.e.f. June 29, 2021*
1. HB STOCKHOLDINGS LTD.
2. MEGA NIRMAN & INDUSTRIES LIMITED
3. POLYSPIN EXPORTS LTD.
4. TIMES GUARANTY LTD.
5. VIKAS WSP LTD.
6. BHILWARA TECHNICAL TEXTILES LT
7. K&R RAIL ENGINEERING LIMITED
8. MITSHI INDIA LIMITED
9. OZONE WORLD LIMITED
10. REAL STRIPS LTD.
11. AJMERA REALTY & INFRA INDIA LTD.
12. Mahaan Foods Ltd
13. Mega Corporation Ltd
14. NCL Research & Financial Services Ltd
15. Omni AXs Software Ltd
16. Vivanza Biosciences Ltd
*Graded Surveillance Measure (GSM) - List of securities moving into their respective GSM Stages with effect from June 29, 2021*
1. Omkar Overseas Ltd - Moved to GSM Stage 1
2. Magnum Ventures Ltd* - Moved to GSM Stage 1
3. Munoth Communication Ltd - Moved to GSM Stage 2
4. Deccan Polypacks Ltd - Moved to GSM Stage 2
5. Hipolin Ltd - Moved to GSM Stage 2
6. Ramchandra Leasing & Finance Ltd - Moved to GSM Stage 2
7. Uniworth Ltd - Moved to GSM Stage 3
8. Mahan Industries Ltd - Moved to GSM Stage 3
*CHANGE IN CIRCUIT FILTER with effect from June 29, 2021.*
1. Vineet Laboratories Ltd – 20%
2. Uttam Sugar Mills Ltd – 10%
3. Welspun Investments and Commercials Ltd – 10%
4. Tanvi Foods (India) Ltd – 10%
5. Avadh Sugar & Energy Ltd – 5%
6. Kesar Enterprises Ltd – 5%
7. Ponni Sugars (Erode) Ltd – 5%
8. Sungold Media and Entertainment Ltd – 5%
9. Duroply Industries Ltd – 5%
10. Supreme Holdings & Hospitality (India) Ltd – 2%
11. Shree Rama Multi-Tech Ltd – 2%
12. Zim Laboratories Ltd – 2%
13. Polychem Ltd – 2%
14. JPT Securities Ltd – 2%
15. Baroda Extrusion Ltd – 2%
16. Explicit Finance Ltd – 2%
Brokrage Reports
Nomura expects strong recovery in global automotive demand over 2021-22, upgrades Motherson Sumi to Buy, and is also positive on Bharat Forge, Apollo Tyres & Bajaj Auto
CS on Marico raised Tgt price from 490 to 600
Motilal Oswal on NALCO buy with Tgt price 93
Ms on igl buy with Tgt price of 605
Antique on finolex industries buy with Tgt price of 200
Motilal Oswal on ashok Leyland maintain buy with Tgt price 155
Motilal Oswal on ONGC maintain buy with Tgt price 150
Jp Morgan on hdfc bank maintain buy with Tgt price 1800
Citi on JSW energy maintain buy with Tgt price 178
Antique on Apollo tyre maintain buy with Tgt price 280
Nomura expects strong recovery in global automotive demand over 2021-22, upgrades Motherson Sumi to Buy, and is also positive on Bharat Forge, Apollo Tyres & Bajaj Auto
CS on Marico raised Tgt price from 490 to 600
Motilal Oswal on NALCO buy with Tgt price 93
Ms on igl buy with Tgt price of 605
Antique on finolex industries buy with Tgt price of 200
Motilal Oswal on ashok Leyland maintain buy with Tgt price 155
Motilal Oswal on ONGC maintain buy with Tgt price 150
Jp Morgan on hdfc bank maintain buy with Tgt price 1800
Citi on JSW energy maintain buy with Tgt price 178
Antique on Apollo tyre maintain buy with Tgt price 280