World Markets
Dow Closed
Nasdaq Closed
Dax + 12
Nikkei + 89
Hangseng - 124
Sgxnifty - 32 (15836)
Brent Crude 77.44
Dow Fut + 59
Dollar Index 92.24
Dow Closed
Nasdaq Closed
Dax + 12
Nikkei + 89
Hangseng - 124
Sgxnifty - 32 (15836)
Brent Crude 77.44
Dow Fut + 59
Dollar Index 92.24
Money Market Update
The rupee ended at 74.31 against the U.S. Dollar on Monday as compared to Friday's closing of 74.74.
The rupee ended at 74.31 against the U.S. Dollar on Monday as compared to Friday's closing of 74.74.
Trading Tweaks
Ex-Date Bonus Issue: Bansal Roofing Products
Ex-Date Dividend: Century Textiles & Industries, Ponni Sugars (Erode), SKF India
Ex-Date Final Dividend: JMC Projects (India), Natural Capsules, Piramal Enterprises
Price Band Revised From 10% To 5%: Jain Irrigation Systems, Uttam Sugar Mills
Price Band Revised From 20% To 10%: Apex Frozen Foods, HFCL, Newgen Software Technologies, Steel Exchange India
Move Into Short-Term ASM Framework: Alicon Castalloy, Happiest Minds Technologies
Move Out Of Short-Term ASM Framework: BL Kashyap and Sons, Den Networks, Zee Media Corporation, Sharda Motor Industries
Move Into ASM Framework: Zee Media Corporation, Rupa & Company, Olectra Greentech, Steel Exchange India, Rajratan Global Wire, Bajaj Hindusthan Sugar
Read more at: https://www.bloombergquint.com/markets/all-you-need-to-know-going-into-trade-on-july-6-3
Copyright © BloombergQuint
Read more at: https://www.bloombergquint.com/markets/all-you-need-to-know-going-into-trade-on-july-6-3
Copyright © BloombergQuint
Ex-Date Bonus Issue: Bansal Roofing Products
Ex-Date Dividend: Century Textiles & Industries, Ponni Sugars (Erode), SKF India
Ex-Date Final Dividend: JMC Projects (India), Natural Capsules, Piramal Enterprises
Price Band Revised From 10% To 5%: Jain Irrigation Systems, Uttam Sugar Mills
Price Band Revised From 20% To 10%: Apex Frozen Foods, HFCL, Newgen Software Technologies, Steel Exchange India
Move Into Short-Term ASM Framework: Alicon Castalloy, Happiest Minds Technologies
Move Out Of Short-Term ASM Framework: BL Kashyap and Sons, Den Networks, Zee Media Corporation, Sharda Motor Industries
Move Into ASM Framework: Zee Media Corporation, Rupa & Company, Olectra Greentech, Steel Exchange India, Rajratan Global Wire, Bajaj Hindusthan Sugar
Read more at: https://www.bloombergquint.com/markets/all-you-need-to-know-going-into-trade-on-july-6-3
Copyright © BloombergQuint
Read more at: https://www.bloombergquint.com/markets/all-you-need-to-know-going-into-trade-on-july-6-3
Copyright © BloombergQuint
Bloomberg | Quint
All You Need To Know Going Into Trade On July 6
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Who’s Meeting Whom
Affle (India): To meet Malabar Investments on July 6 and Franklin Templeton and Janchor Partners on July 7.
Deepak Fertilisers and Petrochemicals Corporation: To meet Mirae Asset Capital Markets (India) on July 6
Affle (India): To meet Malabar Investments on July 6 and Franklin Templeton and Janchor Partners on July 7.
Deepak Fertilisers and Petrochemicals Corporation: To meet Mirae Asset Capital Markets (India) on July 6
*SERNET Midnight News Update – Jul 06th 2021*
The government plans to sell 7.49% stake in NMDC through an offer for sale on 06 July, in a bid to mop up close to Rs.3,621 crore in divestment receipts. The base sale offer will be for 11.72 crore shares representing 4% of capital at a floor price of Rs.165 per share. However, the government will retain a green-shoe option to sell another 3.49% based on demand. Institutional bids will be solicited on 06 July while any unallocated bids will be carried forward for retail subscription, which will happen on 07 July.
SEBI has issued a detailed framework to penalize market infrastructure institutions like stock exchanges, clearing corporations and depositories for technical glitches. However, this is more likely to be with prospective effect so the NSE low-latency issue is likely to be outside the purview of these regulations. Under the new framework, such players will pay Rs.100,000 per day for delay in submission or incomplete submission of root cause analysis. There will be higher penalties for failure to address technical glitches.
SEBI granted approval for Zomato’s Rs.7,875 crore IPO. The actual IPO is scheduled for this month. Zomato had filed its offer document with Sebi on 28 April. Zomato will make a fresh issue of Rs.7,500 crore while Info Edge will offload shares worth Rs.375 crore. Zomato has the backing of Ant Group of China. Currently, Info Edge holds 18.55% stake in Zomato. Roadshows in the global markets have already commenced. The overall valuation of Zomato is expected to be close to $8.5 billion or Rs.60,000 crore post the IPO listing.
It is now evident that at least 95% of Jet Airways employees will have to consent to the Kalrock-Jalan proposal or lose benefits offered under the revival plan. NCLT has cleared the proposal to revive Jet Airways. Against the admitted claims of Rs.15,000 crore by Jet Airways, the Kalrock Jalan consortium will only pay Rs.475 crore. In addition, the creditors will also get a stake in Jet Airways under the terms of the settlement. The number of employees of Jet Airways has dwindled from 9,000 to 3,600 in last 2 years.
Apex Frozen Foods was locked in 20% upper circuit and has gained nearly 46% since it announced solid results for the Mar-21 quarter. The PAT for Mar-21 quarter had increased almost 3.5 times to Rs.8.40 crore on a sequential basis, although the profits were down on a yoy basis. It also reported a 16.5% growth in net revenues at Rs.182 crore even as the EBITDA margins improved from 7.6% to 11.5% qoq. It had witnessed volume growth of 30% yoy with its ready-to-eat products being well received in the market.
HFCL continued to show robust performance as it touched a 19-year high price of Rs.86 on Monday. The volumes on the stock have also seen a sharp growth. HFCL has gained nearly 86% just in the last one month of trading. In the process, the market cap of HFCL crossed the Rs.10,000 crore mark after a very long time. HFCL is engaged in the manufacture of high-end transmission and access equipment, optical fibre cables as well as in setting up total communication networks for telcos and smart city projects.
Panacea Biotech stock surged 9% to Rs.411 after it announced receipt of manufacturing license to produce Sputnik-V vaccine at its Baddi plant in Himachal Pradesh. The license is a necessary pre-condition to use Sputnik V produced by Panacea Biotech in India. It may be recalled that Sputnik-V was registered in India under the emergency use authorization or EUA procedure in April this year. Sputnik-V is already registered in over 67 countries globally. The stock saw a spurt in price coupled with doubling of trading volumes.
The IPO of India Pesticides got listed on 05 July and made a strong debut listing at a premium of 22%. Against the issue price of Rs.296, India Pesticides listed at Rs.360. However, after touching a high of Rs.358 on the NSE, the stock gave up gains and closed the day at Rs.342, about 15.5% above the IPO price.
The government plans to sell 7.49% stake in NMDC through an offer for sale on 06 July, in a bid to mop up close to Rs.3,621 crore in divestment receipts. The base sale offer will be for 11.72 crore shares representing 4% of capital at a floor price of Rs.165 per share. However, the government will retain a green-shoe option to sell another 3.49% based on demand. Institutional bids will be solicited on 06 July while any unallocated bids will be carried forward for retail subscription, which will happen on 07 July.
SEBI has issued a detailed framework to penalize market infrastructure institutions like stock exchanges, clearing corporations and depositories for technical glitches. However, this is more likely to be with prospective effect so the NSE low-latency issue is likely to be outside the purview of these regulations. Under the new framework, such players will pay Rs.100,000 per day for delay in submission or incomplete submission of root cause analysis. There will be higher penalties for failure to address technical glitches.
SEBI granted approval for Zomato’s Rs.7,875 crore IPO. The actual IPO is scheduled for this month. Zomato had filed its offer document with Sebi on 28 April. Zomato will make a fresh issue of Rs.7,500 crore while Info Edge will offload shares worth Rs.375 crore. Zomato has the backing of Ant Group of China. Currently, Info Edge holds 18.55% stake in Zomato. Roadshows in the global markets have already commenced. The overall valuation of Zomato is expected to be close to $8.5 billion or Rs.60,000 crore post the IPO listing.
It is now evident that at least 95% of Jet Airways employees will have to consent to the Kalrock-Jalan proposal or lose benefits offered under the revival plan. NCLT has cleared the proposal to revive Jet Airways. Against the admitted claims of Rs.15,000 crore by Jet Airways, the Kalrock Jalan consortium will only pay Rs.475 crore. In addition, the creditors will also get a stake in Jet Airways under the terms of the settlement. The number of employees of Jet Airways has dwindled from 9,000 to 3,600 in last 2 years.
Apex Frozen Foods was locked in 20% upper circuit and has gained nearly 46% since it announced solid results for the Mar-21 quarter. The PAT for Mar-21 quarter had increased almost 3.5 times to Rs.8.40 crore on a sequential basis, although the profits were down on a yoy basis. It also reported a 16.5% growth in net revenues at Rs.182 crore even as the EBITDA margins improved from 7.6% to 11.5% qoq. It had witnessed volume growth of 30% yoy with its ready-to-eat products being well received in the market.
HFCL continued to show robust performance as it touched a 19-year high price of Rs.86 on Monday. The volumes on the stock have also seen a sharp growth. HFCL has gained nearly 86% just in the last one month of trading. In the process, the market cap of HFCL crossed the Rs.10,000 crore mark after a very long time. HFCL is engaged in the manufacture of high-end transmission and access equipment, optical fibre cables as well as in setting up total communication networks for telcos and smart city projects.
Panacea Biotech stock surged 9% to Rs.411 after it announced receipt of manufacturing license to produce Sputnik-V vaccine at its Baddi plant in Himachal Pradesh. The license is a necessary pre-condition to use Sputnik V produced by Panacea Biotech in India. It may be recalled that Sputnik-V was registered in India under the emergency use authorization or EUA procedure in April this year. Sputnik-V is already registered in over 67 countries globally. The stock saw a spurt in price coupled with doubling of trading volumes.
The IPO of India Pesticides got listed on 05 July and made a strong debut listing at a premium of 22%. Against the issue price of Rs.296, India Pesticides listed at Rs.360. However, after touching a high of Rs.358 on the NSE, the stock gave up gains and closed the day at Rs.342, about 15.5% above the IPO price.
The week before last, the IPO had been subscribed nearly 29 times with even the retail portion getting a 11.3 times subscription. India Pesticides operates in two business verticals, viz. technicals and formulations.
Pledge Share Details
Adani Transmission: Promoter Adani Tradeline LLP created a pledge of 66.06 lakh shares between July 2-3.
HFCL: Promoters (MN Ventures, Nextwave Communications and Anant Nahata) revoked pledge of 18.11 crore shares between July 2-3.
JSW Steel: Promoter JTPM Metal Traders revoked pledge of 5.84 lakh shares between June 29-30.
Prime Focus: Promoter Naresh Malhotra revoked pledge of 93.60 lakh shares on June 1.
SH Kelkar and Company: Promoters (Keva Constructions and Kedar Vaze) created a pledge of 50 lakh shares on June 29.
Adani Transmission: Promoter Adani Tradeline LLP created a pledge of 66.06 lakh shares between July 2-3.
HFCL: Promoters (MN Ventures, Nextwave Communications and Anant Nahata) revoked pledge of 18.11 crore shares between July 2-3.
JSW Steel: Promoter JTPM Metal Traders revoked pledge of 5.84 lakh shares between June 29-30.
Prime Focus: Promoter Naresh Malhotra revoked pledge of 93.60 lakh shares on June 1.
SH Kelkar and Company: Promoters (Keva Constructions and Kedar Vaze) created a pledge of 50 lakh shares on June 29.
Stocks To Watch
NMDC: Government to sell 7.49% of the company's equity through an offer for sale. The initial plan is for the sale of 11.72 crore shares or 4% of the total equity with a green shoe option to sell another 10.22 crore shares or 3.49% of the total equity. The floor price of Rs 165 per share is at a discount of 5.87% to Monday's closing price. The OFS opens for non-retail investors today and for retail investors tomorrow.
NTPC: The wholly-subsidiary of the company, NTPC Vidyut Vyapar Nigam, has invited bids for e-buses in Delhi, Leh. CG Power and Industrial Solutions: Allotment of 1.38 crore shares worth Rs 101.2 crore to Standard Chartered Bank (Singapore) completed. SCB now holds 1.02% of the paid-up equity share capital of the company.
Religare Enterprises: Shareholders approved the Rs 570 crore preferential issue of fresh equity shares at a price of Rs 105.25 per share to existing shareholders like Burman family & Ares SSG Capital and selected new marquee investors.
Piramal Enterprises: Approved the allotment of 1,250 secured NCDs at issue price of Rs 10.01 lakh per debenture, aggregating to Rs 125.19 crore on private placement basis.
Vakrangee: Partnered with EDUSAKSHAM an EdTech startup by IIT Alumni, to offer online tuition/live classes, e-Learning courses, practice and assessment-based modules to the customers under highly emerging sector of online education domain.
Maruti Suzuki India: Total production in June up 226% to 1,65,576 units Vs 50,742 units last year.
Force Motors: The company’s total production in June stood at 1,757 units. It reported domestic sales of 1,501 units and exports of 424 units.
Alembic: The company said its bulk drugs business continues to remain under pressure. “Despite persistent efforts by the management to improve efficiency and reduce overheads, the business incurred losses during the year. The company continues to work towards right sizing its operations. The bulk drugs business will remain under pressure due to competitive business scenarios as well as the ever-increasing capital-intensive asset modernisation and refurbishment of manufacturing facilities requirements. The business faces an uncertain future, despite our sincere efforts.”
NMDC: Government to sell 7.49% of the company's equity through an offer for sale. The initial plan is for the sale of 11.72 crore shares or 4% of the total equity with a green shoe option to sell another 10.22 crore shares or 3.49% of the total equity. The floor price of Rs 165 per share is at a discount of 5.87% to Monday's closing price. The OFS opens for non-retail investors today and for retail investors tomorrow.
NTPC: The wholly-subsidiary of the company, NTPC Vidyut Vyapar Nigam, has invited bids for e-buses in Delhi, Leh. CG Power and Industrial Solutions: Allotment of 1.38 crore shares worth Rs 101.2 crore to Standard Chartered Bank (Singapore) completed. SCB now holds 1.02% of the paid-up equity share capital of the company.
Religare Enterprises: Shareholders approved the Rs 570 crore preferential issue of fresh equity shares at a price of Rs 105.25 per share to existing shareholders like Burman family & Ares SSG Capital and selected new marquee investors.
Piramal Enterprises: Approved the allotment of 1,250 secured NCDs at issue price of Rs 10.01 lakh per debenture, aggregating to Rs 125.19 crore on private placement basis.
Vakrangee: Partnered with EDUSAKSHAM an EdTech startup by IIT Alumni, to offer online tuition/live classes, e-Learning courses, practice and assessment-based modules to the customers under highly emerging sector of online education domain.
Maruti Suzuki India: Total production in June up 226% to 1,65,576 units Vs 50,742 units last year.
Force Motors: The company’s total production in June stood at 1,757 units. It reported domestic sales of 1,501 units and exports of 424 units.
Alembic: The company said its bulk drugs business continues to remain under pressure. “Despite persistent efforts by the management to improve efficiency and reduce overheads, the business incurred losses during the year. The company continues to work towards right sizing its operations. The bulk drugs business will remain under pressure due to competitive business scenarios as well as the ever-increasing capital-intensive asset modernisation and refurbishment of manufacturing facilities requirements. The business faces an uncertain future, despite our sincere efforts.”