DLF Cyber City Developers, the rental arm of DLF raises NCD of Rs.1,000 crore at 6.7% annual coupon (~6.5% papm) from Debt Capital Markets https://t.co/l9Qhuwoihr
Twitter
CNBC-TV18
DLF Cyber City Developers, the rental arm of DLF raises NCD of Rs.1,000 crore at 6.7% annual coupon (~6.5% papm) from Debt Capital Markets
India's FY22 GDP projection upgraded to 9.3%-9.6% range: SBI Ecowrap
https://mybs.in/2Zj4bx9
https://mybs.in/2Zj4bx9
Business-Standard
India's FY22 GDP projection upgraded to 9.3%-9.6% range: SBI Ecowrap
SBI Ecowrap also lists 5 growth enablers despite Modi's U-turn on farm laws
*Everest Kanto Cylinder Q2FY22 Concall Update*
(Nirmal Bang Securities)
# *Additional 4 lac brownfield capacity over and above the earlier announced 2 lac greenfield, paves way for strong growth phase beginning H2FY23*
# *Industry tailwinds remain strong*
*Outlook: Positive*
• Revenue came at Rs. 421 Cr (+26% QoQ, +71% YoY)
• India revenue came at Rs. 303 Cr (+58%), UAE at Rs. 70 Cr (+133%) and US at Rs. 49 Cr (+84%).
• EBITDA Margin came at 26.5% vs QoQ 26.4%, YoY 17.7%. Co was able to pass on increase in RM costs.
• *Co is confident of delivering sustainable margins of 22-24%* (and 27-29% on standalone basis going forward).
• Major growth over last 5 years has come from CNG (auto) and this will continue. Split between CNG (auto) & Industrial is at 60:40. CNG share will keep rising as new capacities are being put up with CNG in mind.
• CNG has higher margins.
• Industrial demand is mainly dependent on fire equipment/systems, medical, space and defense.
• EKC competes with 5-6 cos like Rama Cylinders, JFE, FJM, Euro. *EKC has the largest capacity in India with a 50% market share.*
• Life of a cylinder is 15-20 years.
• Co sources raw material / steel from China and is not facing any constraints.
• Co is planning to repay the promoter loan within a year.
• *Debt reduced from Rs. 203 Cr in March 2021 to Rs. 131 Cr in Sep 2021. Co should be debt free in FY23 and thus interest cost shall decline accordingly.*
*India*
• *Co has proposed a new brownfield expansion of 4,00,000 cylinders* by adding new manufacturing lines within its current locations (Tarapur & Kandla) with investment of Rs. 35 Cr financed completely from internal accruals and to be executed over the next eight months (commercialization by July 2023). *Co expects additional revenue of Rs. 300 Cr from this brownfield expansion.*
• *The above is in addition to the greenfield capacity of 200,000 cylinders that the co is pursuing in parallel. This 2,00,000 cylinders capacity will have potential to generate revenue of Rs. 200 Cr at a new greenfield facility in Gujarat which will cost 45 Cr and will be funded by internal accruals.* The facility will come up in 3 phases of which the first phase will complete in FY24 (will take 18 months).
• Thus current 7,17,000 cylinder capacity will increase to 13,17,000 in coming years.
*Domestic Industry Tailwinds*
• India’s natural gas consumption is targeted to rise over the next decade, from 170 mmscmd to 600 mmscmd.
• The government aims to add 100 districts and 9k CNG stations in coming years to the City Gas Distribution network which should further accelerate the pace of adoption of gas as a fuel. *Thus CNG stations will increase from current 2k to 11k by 2030.*
• Government has launched Hydrogen Energy Mission for generating hydrogen from green power. It is expected that demand for Hydrogen Cylinder will increase once trials are successful.
*UAE*
Co is targeting a growing number of emerging markets such as Egypt, other African countries, and South America.
*Hungary*
• Plans in Hungary are moving forward and co sees local production in EU allowing deeper access to this large market in the coming years.
• Co is working on expansion of 2 lacs cylinders in Hungary. It shall complete in next 18 months (by July 2023).
• Total capex required will be Rs. 134 Cr. EKC will invest Rs. 20 Cr. Govt of Hungary will provide an incentive of EUR 4.8 mn and remaining would be funded via debt.
*US*
• The recent announcements around infrastructure investments shall open new areas of expansion.
• Utilisation was at 40% in the qtr.
Share is trading at P/E of 7.6x TTM EPS
(Nirmal Bang Securities)
# *Additional 4 lac brownfield capacity over and above the earlier announced 2 lac greenfield, paves way for strong growth phase beginning H2FY23*
# *Industry tailwinds remain strong*
*Outlook: Positive*
• Revenue came at Rs. 421 Cr (+26% QoQ, +71% YoY)
• India revenue came at Rs. 303 Cr (+58%), UAE at Rs. 70 Cr (+133%) and US at Rs. 49 Cr (+84%).
• EBITDA Margin came at 26.5% vs QoQ 26.4%, YoY 17.7%. Co was able to pass on increase in RM costs.
• *Co is confident of delivering sustainable margins of 22-24%* (and 27-29% on standalone basis going forward).
• Major growth over last 5 years has come from CNG (auto) and this will continue. Split between CNG (auto) & Industrial is at 60:40. CNG share will keep rising as new capacities are being put up with CNG in mind.
• CNG has higher margins.
• Industrial demand is mainly dependent on fire equipment/systems, medical, space and defense.
• EKC competes with 5-6 cos like Rama Cylinders, JFE, FJM, Euro. *EKC has the largest capacity in India with a 50% market share.*
• Life of a cylinder is 15-20 years.
• Co sources raw material / steel from China and is not facing any constraints.
• Co is planning to repay the promoter loan within a year.
• *Debt reduced from Rs. 203 Cr in March 2021 to Rs. 131 Cr in Sep 2021. Co should be debt free in FY23 and thus interest cost shall decline accordingly.*
*India*
• *Co has proposed a new brownfield expansion of 4,00,000 cylinders* by adding new manufacturing lines within its current locations (Tarapur & Kandla) with investment of Rs. 35 Cr financed completely from internal accruals and to be executed over the next eight months (commercialization by July 2023). *Co expects additional revenue of Rs. 300 Cr from this brownfield expansion.*
• *The above is in addition to the greenfield capacity of 200,000 cylinders that the co is pursuing in parallel. This 2,00,000 cylinders capacity will have potential to generate revenue of Rs. 200 Cr at a new greenfield facility in Gujarat which will cost 45 Cr and will be funded by internal accruals.* The facility will come up in 3 phases of which the first phase will complete in FY24 (will take 18 months).
• Thus current 7,17,000 cylinder capacity will increase to 13,17,000 in coming years.
*Domestic Industry Tailwinds*
• India’s natural gas consumption is targeted to rise over the next decade, from 170 mmscmd to 600 mmscmd.
• The government aims to add 100 districts and 9k CNG stations in coming years to the City Gas Distribution network which should further accelerate the pace of adoption of gas as a fuel. *Thus CNG stations will increase from current 2k to 11k by 2030.*
• Government has launched Hydrogen Energy Mission for generating hydrogen from green power. It is expected that demand for Hydrogen Cylinder will increase once trials are successful.
*UAE*
Co is targeting a growing number of emerging markets such as Egypt, other African countries, and South America.
*Hungary*
• Plans in Hungary are moving forward and co sees local production in EU allowing deeper access to this large market in the coming years.
• Co is working on expansion of 2 lacs cylinders in Hungary. It shall complete in next 18 months (by July 2023).
• Total capex required will be Rs. 134 Cr. EKC will invest Rs. 20 Cr. Govt of Hungary will provide an incentive of EUR 4.8 mn and remaining would be funded via debt.
*US*
• The recent announcements around infrastructure investments shall open new areas of expansion.
• Utilisation was at 40% in the qtr.
Share is trading at P/E of 7.6x TTM EPS
Dear All,
Nirmal Bang is inviting you to a Zoom webinar.
When: Nov 23, 2021 08:45 AM India
Topic: Morning Market Update
Register in advance for this webinar:
https://us06web.zoom.us/webinar/register/WN_sJ4c9d6bQpibjVdcXmFsYQ
After registering, you will receive a confirmation email containing information about joining the webinar.
Nirmal Bang is inviting you to a Zoom webinar.
When: Nov 23, 2021 08:45 AM India
Topic: Morning Market Update
Register in advance for this webinar:
https://us06web.zoom.us/webinar/register/WN_sJ4c9d6bQpibjVdcXmFsYQ
After registering, you will receive a confirmation email containing information about joining the webinar.
Zoom Video Communications
Welcome! You are invited to join a webinar: Morning Market Update. After registering, you will receive a confirmation email about…
Live webinar on "Commodity Strategies" by Mr. Kunal Shah, Head - Commodity Research at Nirmal Bang with Ms. Hiral Dadia, Anchor and Editor.
Click here to join: https://youtu.be/D2-n275HuPI
Click here to join: https://youtu.be/D2-n275HuPI
YouTube
Commodity Strategies with Mr. Kunal Shah, Head - Commodity Research at Nirmal Bang
Mr. Kunal Shah, Head - Commodity Research at Nirmal Bang in conversation with Ms. Hiral Dadia, Anchor and Editor on Commodity Strategies
Dear All,
Nirmal Bang is inviting you to a Zoom webinar.
When: Nov 22, 2021 03:30 PM India
Topic: Mr. Kunal Shah, Head - Commodity Research at Nirmal Bang in conversation with Ms. Hiral Dadia, Anchor and Editor.
Register in advance for this webinar:
https://us06web.zoom.us/webinar/register/WN_50AAlgENRVywI8qatkOxmQ
After registering, you will receive a confirmation email containing information about joining the webinar.
Nirmal Bang is inviting you to a Zoom webinar.
When: Nov 22, 2021 03:30 PM India
Topic: Mr. Kunal Shah, Head - Commodity Research at Nirmal Bang in conversation with Ms. Hiral Dadia, Anchor and Editor.
Register in advance for this webinar:
https://us06web.zoom.us/webinar/register/WN_50AAlgENRVywI8qatkOxmQ
After registering, you will receive a confirmation email containing information about joining the webinar.
Zoom Video Communications
Welcome! You are invited to join a webinar: Mr. Kunal Shah, Head - Commodity Research at Nirmal Bang in conversation with Ms. Hiral…
Commodity Strategies
BHARTI AIRTEL HIKES PRICES
Bharti Airtel Hikes Prepaid Tariffs Effective November 26
Entry level prepaid tariffs up 25% from Rs 79 to Rs 99
Airtel hikes prepaid tariffs by approx 20% (other than entry level)
Bharti Airtel also hikes tariff of data top-up plans by 20-21%
This is the second hike, last was announced in July 2021
Pricing of entry level pack is up 25%; Rest is average 20% higher
Maintains ARPU needs to be at Rs 200 and ultimately at Rs 300
ARPU at end of Q2 stood at Rs 153
Bharti Airtel Hikes Prepaid Tariffs Effective November 26
Entry level prepaid tariffs up 25% from Rs 79 to Rs 99
Airtel hikes prepaid tariffs by approx 20% (other than entry level)
Bharti Airtel also hikes tariff of data top-up plans by 20-21%
This is the second hike, last was announced in July 2021
Pricing of entry level pack is up 25%; Rest is average 20% higher
Maintains ARPU needs to be at Rs 200 and ultimately at Rs 300
ARPU at end of Q2 stood at Rs 153
Market mood volatile, Global cues neutral, Crude trades around 78.3
Cues for Today
👉 Global Market update
- Dow down 6 pts
- Nasdaq up 63 pts
- Hang Seng down 32 pts
- Dow Fut up 87 pts
👉 Crypto regulations expected in Winter session of Indian Parliament, May point to an Income Tax as well as GST levy.
👉 China’s central bank signaled possible monetary and fiscal easing measures to aid the economy’s recovery as growth weakens, Any easing steps would likely be targeted toward small businesses and green finance. The central bank is also likely to guide credit growth to accelerate next year. The chance of a reduction in the reserve requirement ratio will rise in coming months.
👉 This week Fed meeting minutes will be released, Fed chair appointment will be announced
👉 Investors also will keep a close eye on the coronavirus numbers as new lockdowns and restrictions were announced in Europe
👉 Reliance, Saudi Aramco to re-evaluate oil-to-chemicals investment proposals
👉 PM Modi announced all 3 farm laws to be repealed, In coming Parliament session constitutional measures to repeal these farm laws, PM Modi said
SGX NIFTY (adjusted) - 52 Pts
Cues for Today
👉 Global Market update
- Dow down 6 pts
- Nasdaq up 63 pts
- Hang Seng down 32 pts
- Dow Fut up 87 pts
👉 Crypto regulations expected in Winter session of Indian Parliament, May point to an Income Tax as well as GST levy.
👉 China’s central bank signaled possible monetary and fiscal easing measures to aid the economy’s recovery as growth weakens, Any easing steps would likely be targeted toward small businesses and green finance. The central bank is also likely to guide credit growth to accelerate next year. The chance of a reduction in the reserve requirement ratio will rise in coming months.
👉 This week Fed meeting minutes will be released, Fed chair appointment will be announced
👉 Investors also will keep a close eye on the coronavirus numbers as new lockdowns and restrictions were announced in Europe
👉 Reliance, Saudi Aramco to re-evaluate oil-to-chemicals investment proposals
👉 PM Modi announced all 3 farm laws to be repealed, In coming Parliament session constitutional measures to repeal these farm laws, PM Modi said
SGX NIFTY (adjusted) - 52 Pts
Star Health: Star Health's Rs 7,500 cr IPO likely to open by Nov-end - The Economic Times https://m.economictimes.com/markets/ipos/fpos/star-healths-rs-7500-cr-ipo-likely-to-open-by-nov-end/articleshow/87838567.cms
The Economic Times
Star Health's Rs 7,500 cr IPO likely to open by Nov-end
Star Health and Allied Insurance Company plans to launch its Rs 7,500-crore initial public offering during the last week of November, according to investment banking sources. The IPO will be the third-largest in 2021 after Paytm and Zomato, which raised Rs…
*Business News Headlines* 🇮🇳
*Economic Times*
Ø HAL looks set for a rerating on streamlined balance sheet and healthy order book
Ø RIL debt-free, Aramco deal rethink to have a limited impact: Analysts
Ø Imagicaa creditors may now take the ARC route to sell company
Ø Vulnerability in PNB server exposed customer data for seven months: CyberX9
Ø Maruti to stay away from diesel segment; focus on making petrol cars more fuel efficient
Ø Pharmacy retail chain MedPlus get SEBI nod to launch IPO
Ø Star Health's Rs 7,500 cr IPO likely to open by Nov-end
Ø Go Fashions IPO subscribed 135 times on final day
Ø Retail pulses inflation likely to stay under 5% in H2FY22: Ind-Ra
Ø D2C brand Plum brings on board ITC's Abhishek Agrawal as chief business officer - digital
Ø Sun Pharma recalls over 1.10 lakh bottles of generic drug in US market
*Business Standard*
Ø Telecom tariff hike augurs well for Airtel, industry-wide revision likely
Ø Vedanta business spinoff may not affect parent's credit quality: Moody's
Ø ONGC should decide on mode for raising oil, gas output: Oil ministry
Ø SBI, NPCI, NSE likely promoters of 'open' e-platform for retailers
Ø FY22 fiscal deficit may be better at 6.6% on stronger tax buoyancy: Fitch
Ø Aramco eyes new investments in India after Reliance scraps $15-bn deal
Ø Govt to exceed tax collection target in FY22: Revenue secy Tarun Bajaj
Ø Ashok Leyland's quest for digital solutions gets data monetisation boost
Ø Demand rise and market share gain boost Pidilite's growth
Ø Maruti Suzuki reports 26% drop in production in October
Ø Investors poorer by over Rs 8.21 trillion as markets go into tailspin
*Financial Express*
Ø DLF rental arm raises Rs 1,000 cr via debentures
Ø Coal mines auction: Govt devises plans to seek interests, participation of private sector
Ø Sebi tweaks guidelines for processing of draft schemes filed with exchanges
Ø Exports rise 18.8% to $20 bn so far in November
Ø GMR wins bid for development and operations of Indonesia's Kualanamu International Airport
Ø India’s mineral production rises 22% in September
Ø Sebi mulls tightening rules for IPO proceeds utilisation
Ø Inspira Enterprise gets Sebi’s go-ahead to raise Rs 800 cr via IPO
Ø Centre doubles November tax devolution amount for states
Ø Fitch affirms India rating at ‘BBB-’; outlook ‘negative’
Ø GDP likely to grow at 10 pc in FY22, says Bibek Debroy
*Mint*
Ø Embedded value of LIC likely at $150 billion
Ø Satellite industry grows as investors bet billions on space-derived data
Ø Vaccine hesitancy greatest threat in overcoming Covid: SII's Adar Poonawalla
Ø LIC listing in March quarter, says DIPAM secretary Pandey
Ø SEBI announces rights and responsibilities of investing in securities market
Ø SAT allows PNB Housing Finance to withdraw appeal in Carlyle deal
Ø SAIL supplied 48,200 tonnes of steel for Purvanchal Expressway
Ø MoP lays down strict rules to ramp-up coal supplies to power projects
Ø Building a UPI model to prevent digital monopolies
Ø High inflation pushes Biden to focus message on rising prices
Ø Amazon asked Future to withdraw CCI complaint on FEMA violation: Report
Ø Wood panel and tile makers steal the show in Q2
*Economic Times*
Ø HAL looks set for a rerating on streamlined balance sheet and healthy order book
Ø RIL debt-free, Aramco deal rethink to have a limited impact: Analysts
Ø Imagicaa creditors may now take the ARC route to sell company
Ø Vulnerability in PNB server exposed customer data for seven months: CyberX9
Ø Maruti to stay away from diesel segment; focus on making petrol cars more fuel efficient
Ø Pharmacy retail chain MedPlus get SEBI nod to launch IPO
Ø Star Health's Rs 7,500 cr IPO likely to open by Nov-end
Ø Go Fashions IPO subscribed 135 times on final day
Ø Retail pulses inflation likely to stay under 5% in H2FY22: Ind-Ra
Ø D2C brand Plum brings on board ITC's Abhishek Agrawal as chief business officer - digital
Ø Sun Pharma recalls over 1.10 lakh bottles of generic drug in US market
*Business Standard*
Ø Telecom tariff hike augurs well for Airtel, industry-wide revision likely
Ø Vedanta business spinoff may not affect parent's credit quality: Moody's
Ø ONGC should decide on mode for raising oil, gas output: Oil ministry
Ø SBI, NPCI, NSE likely promoters of 'open' e-platform for retailers
Ø FY22 fiscal deficit may be better at 6.6% on stronger tax buoyancy: Fitch
Ø Aramco eyes new investments in India after Reliance scraps $15-bn deal
Ø Govt to exceed tax collection target in FY22: Revenue secy Tarun Bajaj
Ø Ashok Leyland's quest for digital solutions gets data monetisation boost
Ø Demand rise and market share gain boost Pidilite's growth
Ø Maruti Suzuki reports 26% drop in production in October
Ø Investors poorer by over Rs 8.21 trillion as markets go into tailspin
*Financial Express*
Ø DLF rental arm raises Rs 1,000 cr via debentures
Ø Coal mines auction: Govt devises plans to seek interests, participation of private sector
Ø Sebi tweaks guidelines for processing of draft schemes filed with exchanges
Ø Exports rise 18.8% to $20 bn so far in November
Ø GMR wins bid for development and operations of Indonesia's Kualanamu International Airport
Ø India’s mineral production rises 22% in September
Ø Sebi mulls tightening rules for IPO proceeds utilisation
Ø Inspira Enterprise gets Sebi’s go-ahead to raise Rs 800 cr via IPO
Ø Centre doubles November tax devolution amount for states
Ø Fitch affirms India rating at ‘BBB-’; outlook ‘negative’
Ø GDP likely to grow at 10 pc in FY22, says Bibek Debroy
*Mint*
Ø Embedded value of LIC likely at $150 billion
Ø Satellite industry grows as investors bet billions on space-derived data
Ø Vaccine hesitancy greatest threat in overcoming Covid: SII's Adar Poonawalla
Ø LIC listing in March quarter, says DIPAM secretary Pandey
Ø SEBI announces rights and responsibilities of investing in securities market
Ø SAT allows PNB Housing Finance to withdraw appeal in Carlyle deal
Ø SAIL supplied 48,200 tonnes of steel for Purvanchal Expressway
Ø MoP lays down strict rules to ramp-up coal supplies to power projects
Ø Building a UPI model to prevent digital monopolies
Ø High inflation pushes Biden to focus message on rising prices
Ø Amazon asked Future to withdraw CCI complaint on FEMA violation: Report
Ø Wood panel and tile makers steal the show in Q2
aviation stocks in focus
Domestic Air Traffic Reaches New High Post Resumption
Domestic Air Traffic Hits Record Level Of 393,245 Passengers On Nov 21
Domestic Air Traffic On Nov 21 At 98% Of Pre-COVID Level
All Major Airlines Register Passenger Load Factor 85-94%
Domestic Air Traffic Reaches New High Post Resumption
Domestic Air Traffic Hits Record Level Of 393,245 Passengers On Nov 21
Domestic Air Traffic On Nov 21 At 98% Of Pre-COVID Level
All Major Airlines Register Passenger Load Factor 85-94%
*Pre-Market Derivatives and Technical Set-up*
◆ Nifty index opened flattish and selling pressure was witnessed right from the initial tick. Index gave a breakdown on daily frame and it drifted towards 17280 levels. It broke its immediate key support levels and closed with losses of around 350 points. It formed a big Bearish candle on daily scale and it is forming lower highs - lower lows from the last four sessions
◆ Now till it remains below 17500 zones, weakness could continue towards 17250 and 17000 zones whereas upside hurdles exist at 17650 and 17777 zones
◆ India VIX shot up by 17.90% from 14.85 to 17.52 levels. Volatility spiked to higher zones giving comfort to the bears and making the market unstable
◆ On Option front, Maximum Call OI is at 18000 then 18500 strike while Maximum Put OI is at 17000 then 17300 strike. Call writing is seen at 17600 then 17800 strike while Put writing is seen at 17000 then 16500 strike. Option data suggests a shift in lower trading range in between 17000 to 17800 zones
◆ Bank Nifty opened positive but failed to hold above and drooled down below its 100 DMA. Banking stocks continue to show relative weakness and the index closed with losses of around 850 points. It made a Bearish candle on daily scale with long lower shadow as slight recovery was witnessed in the concluding hour. It has been forming lower lows from the last four sessions
◆ Now till it remains below 37500 zones, weakness could be seen towards 36650 and 36500 zones whereas key resistance can be seen at 37777 levels
◆ Bullish setup in Bhartiartl, Syngene, Jswsteel, Asian Paint, Powergrid and Havells
◆ Bearish setup in Deepakntr, Dixon, Naukri, Aartiind, Bank Baroda, PVR, Ibulhsgfin, Bajfinance, Alkem, Bharatforg, ZEEL, Ashokley, Reliance, Canfin Homes, Nam India and Exide Ind
*Technical & Derivatives Research, Motilal Oswal*
◆ Nifty index opened flattish and selling pressure was witnessed right from the initial tick. Index gave a breakdown on daily frame and it drifted towards 17280 levels. It broke its immediate key support levels and closed with losses of around 350 points. It formed a big Bearish candle on daily scale and it is forming lower highs - lower lows from the last four sessions
◆ Now till it remains below 17500 zones, weakness could continue towards 17250 and 17000 zones whereas upside hurdles exist at 17650 and 17777 zones
◆ India VIX shot up by 17.90% from 14.85 to 17.52 levels. Volatility spiked to higher zones giving comfort to the bears and making the market unstable
◆ On Option front, Maximum Call OI is at 18000 then 18500 strike while Maximum Put OI is at 17000 then 17300 strike. Call writing is seen at 17600 then 17800 strike while Put writing is seen at 17000 then 16500 strike. Option data suggests a shift in lower trading range in between 17000 to 17800 zones
◆ Bank Nifty opened positive but failed to hold above and drooled down below its 100 DMA. Banking stocks continue to show relative weakness and the index closed with losses of around 850 points. It made a Bearish candle on daily scale with long lower shadow as slight recovery was witnessed in the concluding hour. It has been forming lower lows from the last four sessions
◆ Now till it remains below 37500 zones, weakness could be seen towards 36650 and 36500 zones whereas key resistance can be seen at 37777 levels
◆ Bullish setup in Bhartiartl, Syngene, Jswsteel, Asian Paint, Powergrid and Havells
◆ Bearish setup in Deepakntr, Dixon, Naukri, Aartiind, Bank Baroda, PVR, Ibulhsgfin, Bajfinance, Alkem, Bharatforg, ZEEL, Ashokley, Reliance, Canfin Homes, Nam India and Exide Ind
*Technical & Derivatives Research, Motilal Oswal*
💢#Trading Strategies & View
#Nifty #Banknifty #Sgxnifty
💲Live Update
Telegram @Nifty_multibagger
🔰#Nifty T-R
⏮17488 - 17523 - 17569
= To =
⏭17372 - 17306 - 17232
🔰#Banknifty T-R
⏮37315 - 37440 - 37525
= TO =
⏭36965 - 36789 - 36650
#Nifty -
> Imp Level & Small Sup At 17044-17056 ( 100dma )
#Banknifty -
> Key Level AT 36871 - 36317
*🔹US GOVT. 10-YEAR YIELD : 1.62%*
*🔹Brent CRUDE - $79.50*
*🔹#PCR AT 0.67
Positive News
#VEDL - #IRCTC - #BSE - #Bharatiairtel
Negative News
#Heromotocorp - Production Cut
#TVS Motor - Production Cut
#TataSteel
*Today's Alert*
🗣Reminder
*UFORIYA In market*
> STAY-LIGHT & CAUTION
Educational Purpose only
#Nifty #Banknifty #Sgxnifty
💲Live Update
Telegram @Nifty_multibagger
🔰#Nifty T-R
⏮17488 - 17523 - 17569
= To =
⏭17372 - 17306 - 17232
🔰#Banknifty T-R
⏮37315 - 37440 - 37525
= TO =
⏭36965 - 36789 - 36650
#Nifty -
> Imp Level & Small Sup At 17044-17056 ( 100dma )
#Banknifty -
> Key Level AT 36871 - 36317
*🔹US GOVT. 10-YEAR YIELD : 1.62%*
*🔹Brent CRUDE - $79.50*
*🔹#PCR AT 0.67
Positive News
#VEDL - #IRCTC - #BSE - #Bharatiairtel
Negative News
#Heromotocorp - Production Cut
#TVS Motor - Production Cut
#TataSteel
*Today's Alert*
🗣Reminder
*UFORIYA In market*
> STAY-LIGHT & CAUTION
Educational Purpose only
CLSA on Bharti Airtel
Buy Call
TGT Rs 863
Prepaid data hikes could boost Co’s India mobile
rev by 14%
--
Jefferies on Bharti Airtel
Buy Call
TGT Raised to Rs 925
20-25% hike in prepaid tariffs reflects that it is moving towards realizations Vs gaining market share
Buy Call
TGT Rs 863
Prepaid data hikes could boost Co’s India mobile
rev by 14%
--
Jefferies on Bharti Airtel
Buy Call
TGT Raised to Rs 925
20-25% hike in prepaid tariffs reflects that it is moving towards realizations Vs gaining market share
🌟 *Good Morning* 🐯🌟
☀️ *@shareksaudagars Exclusive Morning Market News & Update* ☀️
💫 *Spandana Sphoorty Financial:* Board has appointed Shalabh Saxena as the MD and CEO for a period of 5 years and Ashish Damani as the CFO. Abanti Mitra, independent director, has been appointed as non-executive chairperson.
💫 *Indian Energy Exchange:* To resume trading of Renewable Energy Certificates from November 24, after a gap of almost 16 months. The last REC trade session took place in June 2020.
💫 *Triveni Engineering & Industries:* The company has signed a 10-year business agreement with GEAE Technology USA to locally manufacture the LM2500 gas turbine base and enclosure.
💫 *Zee Entertainment Enterprises:* NCLT Mumbai bench and Delhi bench have sanctioned the scheme of amalgamation of India Webportal, Zee Digital Convergence and Zee Network Distribution with Zee Studios.
💫 *Zen Technologies:* The company has signed an export contract worth Rs 35 crore with one of its important Middle East customers. The order includes Live Simulation equipment (Rs 19.7 crore) and O&M (Rs 15.4 crore) for 4 years. The equipment order is expected to be executed in the next 3 quarters.
💫 *Kirloskar Ferrous Industries:* Board to consider fund raising options on November 25.
💫 *Quess Corp:* The company has raised stake in Stellarslog Technovation to 49%.
💫 *Union Bank:* Allotted Basel III Compliant Additional Tier- 1 bonds in debentures eligible for inclusion in Tier 1 Capital Series XXXII aggregating to Rs 2,000 crore.
*Pledge Share Details*
⭐ *Max Financial Services:* Promoter Max Ventures Investment Holdings created a pledge of 2.78 lakh shares between November 17-18.
⭐ *Jindal Stainless (Hisar):* Promoters (Nalwa Engineering Co, Abhinandan Investments, Goswamis Credits & Investments, Renuka Financial Services, Jindal Rex Exploration, Manjula Finances, Ever Plus Securities and Finance, Stainless Investments, Nalwa Investments, Colarado Trading Co, Gagan Trading Company, Siddeshwari Tradex, Mansarover Tradex, Hexa Securities and Finance Co, Vrindavan Services, Jindal Strips, Jindal Equipment Leasing and Consultancy Services, Sun Investments, JSL, Jindal Infrastructure And Utilities, Ratan Jindal, JSL Overseas, and JSL Overseas Holding) created a pledge of 11.93 crore shares on November 16.As reported on November 22.
*Who’s Meeting Whom*
🔥 *Tata Consumer Products:* To meet Baron Funds and Blue Coast Capital on November 23. The company will meet Carnegie Fonder and DePrince Race & Zollo on November 24.
🔥 *Titan Company:* To meet Marcellus Investment Managers on November 23.
🔥 *Max Healthcare Institute:* To meet Edmond de Rothschild Asset Management, DNCA Finance Ritz Paris, Amundi Asset Management, and Comgest S.A on November 23. The company will meet Pictet Asset Management, TT International, Axiom International Investors, and Amundi Asset Management on November 24.
🔥 *Nazara Technologies:* To meet Union MF and Mirae MF on November 23.
🔥 *Gokaldas Exports:* To meet Canara HSBC Life and Enam on November 23.
🔥 *Accelya Solutions India:* To meet Motilal Oswal Mutual Fund on November 24.
🔥 *Butterfly Gandhimathi Appliances:* To meet Blue Coast Capital on November 24.
🔥 *Tata Elxsi:* To meet Birla MF, Elara Capital and Motilal Oswal AMC on November 25.
*Trading Tweaks*
💥Ex-Date Interim Dividend: Computer Age Management Services, Natco Pharma, Cochin Shipyard, Hindustan Aeronautics, Likhitha Infrastructure, Oil India
💥Record Date Interim Dividend: ONGC, Quess Corp, Ester Industries, Gabriel India, Glenmark Life Sciences, IPCA Laboratories, IRCON International, Jamna Auto Industries, MSTC, Tide Water Oil (India)
💥Move Out Of Short-Term ASM Framework: 3i Infotech
💥Move Into ASM Framework: 3i Infotech
*Money Market Update*
☀️ *@shareksaudagars Exclusive Morning Market News & Update* ☀️
💫 *Spandana Sphoorty Financial:* Board has appointed Shalabh Saxena as the MD and CEO for a period of 5 years and Ashish Damani as the CFO. Abanti Mitra, independent director, has been appointed as non-executive chairperson.
💫 *Indian Energy Exchange:* To resume trading of Renewable Energy Certificates from November 24, after a gap of almost 16 months. The last REC trade session took place in June 2020.
💫 *Triveni Engineering & Industries:* The company has signed a 10-year business agreement with GEAE Technology USA to locally manufacture the LM2500 gas turbine base and enclosure.
💫 *Zee Entertainment Enterprises:* NCLT Mumbai bench and Delhi bench have sanctioned the scheme of amalgamation of India Webportal, Zee Digital Convergence and Zee Network Distribution with Zee Studios.
💫 *Zen Technologies:* The company has signed an export contract worth Rs 35 crore with one of its important Middle East customers. The order includes Live Simulation equipment (Rs 19.7 crore) and O&M (Rs 15.4 crore) for 4 years. The equipment order is expected to be executed in the next 3 quarters.
💫 *Kirloskar Ferrous Industries:* Board to consider fund raising options on November 25.
💫 *Quess Corp:* The company has raised stake in Stellarslog Technovation to 49%.
💫 *Union Bank:* Allotted Basel III Compliant Additional Tier- 1 bonds in debentures eligible for inclusion in Tier 1 Capital Series XXXII aggregating to Rs 2,000 crore.
*Pledge Share Details*
⭐ *Max Financial Services:* Promoter Max Ventures Investment Holdings created a pledge of 2.78 lakh shares between November 17-18.
⭐ *Jindal Stainless (Hisar):* Promoters (Nalwa Engineering Co, Abhinandan Investments, Goswamis Credits & Investments, Renuka Financial Services, Jindal Rex Exploration, Manjula Finances, Ever Plus Securities and Finance, Stainless Investments, Nalwa Investments, Colarado Trading Co, Gagan Trading Company, Siddeshwari Tradex, Mansarover Tradex, Hexa Securities and Finance Co, Vrindavan Services, Jindal Strips, Jindal Equipment Leasing and Consultancy Services, Sun Investments, JSL, Jindal Infrastructure And Utilities, Ratan Jindal, JSL Overseas, and JSL Overseas Holding) created a pledge of 11.93 crore shares on November 16.As reported on November 22.
*Who’s Meeting Whom*
🔥 *Tata Consumer Products:* To meet Baron Funds and Blue Coast Capital on November 23. The company will meet Carnegie Fonder and DePrince Race & Zollo on November 24.
🔥 *Titan Company:* To meet Marcellus Investment Managers on November 23.
🔥 *Max Healthcare Institute:* To meet Edmond de Rothschild Asset Management, DNCA Finance Ritz Paris, Amundi Asset Management, and Comgest S.A on November 23. The company will meet Pictet Asset Management, TT International, Axiom International Investors, and Amundi Asset Management on November 24.
🔥 *Nazara Technologies:* To meet Union MF and Mirae MF on November 23.
🔥 *Gokaldas Exports:* To meet Canara HSBC Life and Enam on November 23.
🔥 *Accelya Solutions India:* To meet Motilal Oswal Mutual Fund on November 24.
🔥 *Butterfly Gandhimathi Appliances:* To meet Blue Coast Capital on November 24.
🔥 *Tata Elxsi:* To meet Birla MF, Elara Capital and Motilal Oswal AMC on November 25.
*Trading Tweaks*
💥Ex-Date Interim Dividend: Computer Age Management Services, Natco Pharma, Cochin Shipyard, Hindustan Aeronautics, Likhitha Infrastructure, Oil India
💥Record Date Interim Dividend: ONGC, Quess Corp, Ester Industries, Gabriel India, Glenmark Life Sciences, IPCA Laboratories, IRCON International, Jamna Auto Industries, MSTC, Tide Water Oil (India)
💥Move Out Of Short-Term ASM Framework: 3i Infotech
💥Move Into ASM Framework: 3i Infotech
*Money Market Update*