Financial Services News

Stock Market Essentials For June 20


Stock Market Essentials For June 20

Events Today

Greenlam – fund raise from non-promoters

Delhivery – lock in period ends

Issue Price:- Rs 487; CMP:- Rs 467

Venus Pipes – lock in period ends

Issue Price:- Rs 326; CMP:- Rs 329

PSU Banks: Nirmala Sitharaman to hold review meeting with officials

AGMs: Tata Coffee

Sovereign Gold Bond Scheme for FY23

First tranche open June 20-24

Issue price fixed at Rs 5,091/gram of gold

Corporate Action

Nil

DII/FII data

FIIs net sold worth Rs 7818.6 cr of shares on June 17 (prov)

DIIs net bought worth Rs 6086.9 cr of shares on June 17

FII F&O Cash Data:

Index futures net buy Rs 412 cr

Index options net buy Rs 2291 cr

Stock futures net buy Rs 52 cr

Stock options net buy Rs 347 cr

Total FII net buy Rs 3102 cr in F&O

F&O Ban

Delta Corp

RBL Bank

Indiabulls Housing

Bulk/Block Deal

Delta Corp

Rakesh Jhunjhunwala sold 57.5lk shares @ 167

Poonawalla Fincorp

CELICA VENTURES bought 26.2lk shares @ 229

MICROFIRM CAPITAL bought 26.2lk shares @ 229

MAYANK PODDAR sold 26.2lk shares @ 229

SANJAY CHAMRIA sold 26.2lk shares @ 229

Fiem Industries

ELEVATION CAPITAL V FII HOLDINGS sold 4.8lk shares @ 1020

SAGEONE FLAGSHIP GROWTH 2 FUND bought 1lk shares @ 1019

SAGEONE INVESTMENT MANAGERS bought 2.8lk shares @ 1020

Indiabulls Real Estate

INTEGRATED CORE STRATEGIES (ASIA) PTE sold 29.7lk shares @ 63

Corporate Announcements

Safari industries

Safari Manufacturing Ltd, WOS has successfully commenced its commercial production of luggage on 17th June 2022 at its newly set up factory situated at Halol, Gujarat

Satin Creditcare

Mr. HP Singh, Chairman and MD gets appointed as the Chairman of Sa-Dhan

Sa-Dhan, a Self-Regulatory Organization (SRO) aim to better serve people below the poverty line by giving credit access

Paid US $202.73M to repurchase Medium Term Notes via tender

Awarded three projects across sectors like specialized chemicals, sunrise and infrastructure

Estimated order value ~ Rs. 80 Cr

Wipro

Doug Hanson Named CEO of Topcoder, a wipro company

A manufacturing unit named Zydus Wellness Products, WOS at Sitarganj will cease operations wef 18 June 2022 productsth made in Sitarganj unit to be made elsewhere

Company does not anticipate any material effect

Cipla

The company has entered into definitive agreements for acquisition of 21.05% stake in Achira Labs Pvt Ltd. Aim-to develop affordable, innovative medical kits in India

Inox Wind

Material subsidiary – Inox Green files for Rs 740cr India IPO

Inox Green seeks Rs 370cr via new shares in IPO and Rs 370 cr via OFS

Indian Hume Pipe

Secured work order worth Rs 110cr Public Health Engineering department

Aavas Financers

Credit rating upgraded by ICRA from AA- to AA ,Stable Outlook

Dilip Buildcon:

*Receives completion certificate for both projects in Karnataka. Total cost- Rs 517.8cr

*Company through RBL-DBL JV has declared as L-l bidder for the tender for ‘Surat Metro Rail Project’ . Project cost Rs 1061cr

Balkrishna Paper Mills:

*Fire broke out in ‘Raw Materials Godown’ factory situated in thane on 16 June

*None of Workmen or other persons were injured or no other casualty occurred

*Co says Impact of the incidence is being ascertained

Nazara tech:

*Board approved further strategic investment in Absolute Sports Pvt Ltd for Rs20cr

*Investment for an amount upto 10 Cr by way of subscription to Optionally Convertible Debentures in Brandscale Innovations

Max Ventures:

Max Estates Limited has completed acquisition entire equity stake of Accord Hotels and Resorts Pvt Ltd on June 17, 2022 for a consideration of Rs 293 Cr

Shree Cement:

*Approved setting up of an Integrated Cement Plant in District of Andhra Pradesh having Clinker Capacity of 1.5 MTPA and Cement Capacity of 3.0 MTPA

*Investment Required- Rs 2500cr

Aurobindo Pharma:

Approved acquisition of 51% equity shares in GLS Pharma Ltd, operating in oncology business and having manufacturing facility in Hyderabad.

Total cash consideration of Rs 28.05cr

Alkem Laboratories:

USFDA had conducted an inspection of the Company’s manufacturing facility located at St. Louis, USA from 6-17 June, 2022. Co has received three observations

NTPC

Commissioned 47.52 MW of solar project in Rajasthan.

Standalone installed and commercial capacity of NTPC will become 54,714 MW, while group installed and commercial capacity of NTPC will become 69,079 MW.

Praveg Communication

Received Letter from Ministry of Information and Broadcasting that it intends to grant permission for “uplinking and downlinking a News & Current Affairs TV Channel”.

Aban Offshore

To sell Deep Driller 7 Jack-Up Rig for Rs 234 cr to Shelf Drilling Services. Deal expected to complete by July 2022.

MCAP:- Rs 264 cr

AU SFB

Foreign shareholding as of June 17 stands at 38% as against the permissible limit of 49%.

Vodafone Idea

Board meet on June 22 to consider fund raise of Rs 500 cr to Vodafone Group entities

Other News

Apollo Tyres Analyst Day Key Takeaways

FY26 Revenue goal is $5 billion Vs $2.8 billion in FY22 with EBITDA margin of >15% Vs 12.3% in FY22

ROCE of 12-15% and Net Debt/EBITDA <2

Focus for next 2 years,

Sweating assets created over last few years

Increasing capacity if needed through de-bottlenecking and improving efficiencies

Price Hike

Increasing quantum of price increases at one go

Initially started with 2% price increases in Dec’20, later it was increased to 3%, in recent price increase in June, it took 4% at one go

Demand

Replacement demand is holding up well

Improvement in long haul trucks

Bus segment is now improving; was badly impacted during Covid

In Europe

Priority to improve distribution in counties where it’s not present and improve product mix through higher share of UHP and All-season tyres

Palm Oil Prices Fall

Palm oil prices have retreated below the $1,300/MT mark, down from the peaks of $1,800-1,900/MT

Deflation in palm oil – a key input for making soaps, biscuits, noodles – is a positive

But its sustainability remains to be seen

Augurs well for FMCG players, especially HUL, Britannia, GCPL and Nestle

Brent Crude Corrects

Brent Crude slips 7.3% last week – snapping 4-week gaining streak

High In Last One Month – $125.3/bbl

Current Price:- $114/bbl – down 9%

Life Time high $147.5/bbl which is on Sept-2008

Current price is 23% down from life time high

Reason:-

Interest rate hikes by major central banks could slow the global economy and cut demand for energy

Rising USD is making oil more expensive for buyers

Russia signalled oil exports should increase in 2022 despite sanctions

Stocks/Sectors In Focus

Positive:- OMCs, Airline, Paint, Tyre, Cement, Lubricant manufacturers

Negative:- ONGC, Oil India, GAIL

Refining Segment

Singapore GRMs trading at new highs of $26.4/bbl

Positive:- MRPL, Chennai Petro, OMCs, RIL

Developments In Metal Space

Karnataka Govt renews NMDC`s Kumaraswamy mines for 20 years: The mining lease is now valid upto October 2024. Kumaraswamy mines has capacity of 7mn tpa which is expected to expand to 10mn tpa by next year.

NLMK forecasts 23% drop in Russian steel exports in 2022: The fourth largest Russian steel mill expects Russian production to fall 15% while domestic demand is also expected to fall.

China to ban new steel, coking coal, refinery, cement projects in key zones to achieve carbon goals: as per its policy documents.

Update on China steel market: Prices falling – Demand remains weak on resurgence of lockdowns in some region. HRC/Billet/Rebar prices changed -4%/-8%/-8% wow. Imported Iron ore prices fell 12% to US$ 125/t. Chinese domestic met coke prices surged 1% though. HRC export prices (FoB) prices also fell 3% to US$ 780/t.

India – Prices mixed: Trade level Billet/Rebar prices improved 5%/3% while HRC prices fell 3% wow. Iron ore prices (domestic Odisha 62% Fe) continues to reel under pressure falling 5% wow. Australian premium HCC coking coal improved 3% wow to US$ 378/t.

Parity Prices: Indian trade steel HRC prices now at 10% discount to China and 9% discount to Japan-Korea imports. Indian mills HRC export offers in SE fell 1% to US$ 723/t.

Non-Ferrous – Price under pressure – Aluminium/Zinc/Lead/Copper prices fell 8%/6%/3%/5% to US$ 2,474/US$ 3,532/ US$ 2,085/ US$ 9,100. Alumina prices improved 1% to US$ 368/t. Thermal coal (South Africa) 6,000 Kcal prices improved 4% to US$ 301/t. INR vs US$ was flat.

Q3CY22 aluminium MJP negotiations started: The current negotiations hovering around US$ 157/t vs 2Q level of US$ 177/t.

From Bloomberg

India Refiners Continue to Run Above Capacity Amid Strong Demand

India’s crude oil refiners operated above capacity for the seventh straight month in May, amid strong demand, according to data from the oil ministry.

Average refining capacity use in the month was 109.7% vs 92.6% a year earlier, data published Friday shows

Refineries together processed 22.65 million tons of crude oil in May, compared with 20.5 million y/y

State-run Indian Oil Corp., the nation’s biggest refiner, operated its refineries at an average 111.5%, processing 6.4 million tons of crude

Reliance Industries, which runs the world’s largest refining complex at Jamnagar in Gujarat, operated at 101.2% capacity, processing almost 5.7 million tons of crude

India Net Direct Tax Collections Rise 45% Y/y to 3.39T Rupees

India’s FY23 net direct tax revenue increased 45% to 3.39 trillion rupees ($43.4 billion) as on June 16, from 2.33 trillion a year earlier, according to a statement from finance ministry

Net direct tax collections include corporation tax revenue of 1.7 trillion rupees and 1.67 trillion rupees personal income tax mop-up, net of refunds

Gross collection of direct taxes up 40% y/y to 3.7 trillion rupees

Refunds issued this year so far at 303.34 billion rupees

India Forex Reserves Fall $4.6b at $596.5b As On June 10: RBI

India’s Purchases Of Russian Coal Spiked In Recent Weeks: Reuters

Insiders

Companies

Category

No. Of Shares

Activity

Fineotex Chemical

Promoter & Director

30000

Bought

Ganesh Benzoplast

Promoter

25000

Bought

Gensol Engineering

Promoter & Director

1596

Bought

Haldyn Glass

Promoter

37679

Bought

KEC International

Promoter Group

59000

Bought

NCL Industries

Director & Promoter

50775

Bought

Nuvoco Vistas

Promoter

100000

Bought

Pokarna

Directors Immediate Relative

425

Bought

RPG Life Sciences

Promoter

3919

Bought

Seshasayee Paper

Promoter Group

10000

Bought

Shakti Pumps

Promoter

14070

Bought

Shalimar Paints

Connected Person

18000

Bought

Uflex

Promoter Group

26710

Bought

VIP Industries

Promoter

197248

Bought

Apcotex Industries

Promoter

385

Bought

Alkyl Amines

Employees Immediate Relative

775

Sold

Astral

Immediate Relative

25000

Sold

Bharat Wire

Director

119403

Sold

BLS International

Employee & KMP

23500

Sold

Campus Activewear

Designated Person

3300

Sold

Capri Global

Employee

76000

Sold

Divis Lab

Designated Person

650

Sold

Eclerx Services

Employee Welfare Trust

24648

Sold

Embassy Office Parks REIT

Designated Person

128537

Sold

Nykaa

Designated Person

24670

Sold

Gland Pharma Ltd

Designated Person & KMP

12266

Sold

HDFC Bank

Designated Person

25500

Sold

Indiabulls Housing

Employee

68000

Sold

JSW Steel

Employee Welfare Trust

568686

Sold

Kotak Mahindra Bank

Connected Person

1000

Sold

L&T Infotech

Designated Person

300

Sold

Page Industries

Promoter & Director

61939

Sold

Prince Pipes

Designated Person

1504

Sold

Vaibhav Global

Employee Welfare Trust

8780

Sold

Valiant Organics

Promoter Group

41242

Sold

Max Financial Services

Promoter

650000

Pledge Released

Sun Pharma

Promoter Group

15000

Pledge Released

Elgi Equipments

Promoter Group

204984

Pledged

JSPL

Promoter

3900000

Pledged

Investor/Analysts Meet

Bata attended call organized by Nirmal Bang on 16 June

IndusInd Bank met host of investors on 16 June

Aster DM Healthcare participated in Philip capital conference on 17 June

VRL logistics meeting with Kotak Life Insurance on 17 June

Power Finance Corp meeting with group of investors organized by Elara Capital on 17 June

Mastek meeting with Svan Investment Managers on 16 June

Gland Pharma meeting with Kotak Life on 20 June, First State Sentier on 21 June, JP Morgan 22 June and Mirae Asset Management on 27 June

Aarti Industries meeting host of investors on 17 June

Shriram Transport met host of investors on 16 June

Birla Corp meeting with ICICI Prudential Mutual Fund on 18 June

ICICI securities meeting with Investors and Analysts on June 17

TATA Motors meeting with Canada Pension Plan Investment Board on 20 June

Axis bank to attend HSBC conference on 20 June, BNP Paribas India Virtual Investors Day on 21 June

Star Health and Allied Insurance meeting with HDFC Securities on June 17

Radico Khaitan meeting with Kotak Mahindra MF on 20 June, Dolat Capital on 21 June

Indiamart meeting with Mobius Capital Partners on June 16

Ami Organics met host of investors on 17 June

DCB Bank participated investor meetings organized by Investec Capital Services, Philip capital on 17 June

Fino Payments Bank meeting with Kotak Mutual Fund, Nippon Mutual Fund on 17 June

SBI cards meeting with Lazard Asset Management, BoFA Securities and Franklin Templeton Asset Management (India) on 17 June

Latent View Analytics attended call organized by B&K on 17 June

L&T meeting with BNP Paribas on 20 June, Morgan Stanley on 24 June

Meghmani Finechem meeting with Dimensional Fund Advisors on 20 June

Aurobindo Pharma to attend call arranged by BNP Paribas 20 June

Ami Organics meeting with Ambit Private Ltd on 18 June

Persistent Systems call organized by Edelweiss Securities on 17 June

Tata Chemicals meeting with Franklin Templeton Investments 20 June, Axis Capital and Broadview Research on 21 June , Morgan Stanley India on 23 June

Sudarshan Chemical meeting with Haitong Securities India on 21 June

Clean science and technology meeting with Axis Mutual Fund on 21 June

PI Industries meeting with Emkay Global Financial Services on 20 June, Motilal Oswal Securities on 24 June

Vedant Fashions will be meeting analysts and investors in Mumbai on June 20 and June 21.

Orchid Pharma will be meeting analysts and investors in Mumbai on June 20 and June 21.

Nykaa to hold investor day on June 23.



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