All You Need To Know Going Into Trade On April 20
Asia stocks slipped at the open Tuesday after weakness in the technology sector pulled U.S. indexes from all-time peaks, with investors weighing corporate earnings and recent spikes in virus cases.
Shares fell in Japan and Australia and futures pointed lower in Hong Kong. U.S. contracts edged higher. The tech-heavy Nasdaq 100 Index underperformed in the U.S. session, while the S&P 500 Index also fell.
Treasury yields slipped back below 1.6% and the dollar dipped.
The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, down 0.2% to 14,354, as of 6:45 a.m.
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Stocks To Watch
- Tech Mahindra: Board has approved the proposal to acquire 100% equity shares in DigitalOnUs, Inc. directly and indirectly through its wholly-owned subsidiary, Tech Mahindra (Americas) Inc. The cost of acquisition is $120 million. The transaction is expected to close by May 15, 2021.
- UPL: Has appointed Carlos Pellicer as Chief Operating Officer, effective immediately. Pellicer will replace Diego Casanello who resigned from the position to pursue new opportunities outside the sector.
- ICICI Bank: Board to meet on April 24 to consider fundraising by way of issuance of debt securities in single/multiple tranches in any currency through public/private placement.
- Adani Ports and SEZ: Board has approved the allotment of 1 crore shares of the face value of Rs 2 each fully paid up, on a preferential basis to Windy Lakeside Investment at an issue price of Rs 800 per share, aggregating to Rs 800 crore. Subsequently, the equity paid-up share capital of the company has increased to 204 crore shares.
- Supreme Petrochem: India Ratings and Research has upgraded the company’s long-term rating to AA- from A+ with a stable outlook and confirmed a Short-term rating at A1+ for the company’s fund and non-fund based working capital facilities from banks.
- Zuari Global: Board has declared a second interim dividend of Rs 1 per share for FY21. The record date for the same is April 28.
- Nifty Earnings: Nestle India
- Non-Nifty Earnings: 5paisa Capital, Tata Steel Long Products, Swaraj Engines, Network18, TV18 Broadcast
Earnings Post Market Hours
ACC Q1CY21 (Consolidated, YoY)
- Revenue up 22.57% at Rs 4,291.97 crore versus Rs 3,501.71 crore (Bloomberg Estimate: Rs 4,216.8 crore)
- Net profit up 74.17% at Rs 562.56 crore versus Rs 323 crore (Bloomberg Estimate: Rs 462.9 crore)
- Ebitda up 46.68% at Rs 860.24 crore versus Rs 586.48 crore (Bloomberg Estimate: Rs 751.2 crore)
- Ebitda Margin at 20% versus 16.70%
ICICI Prudential Life Insurance Company (Standalone, YoY)
- Net income down 64% at Rs 63.78 crore Vs Rs 179 crore
- PAT for FY21 at Rs 960 crore Vs Rs 1,081 crore in FY20
- Net premium income up 13% at Rs 11,880 crore
- Net investment income at Rs 7,140 crore
- Solvency ratio at 216.8% Vs 194%
- 13th month persistency ratio at 84.8% Vs 83.2%
- 61st month persistency ratio at 58.3% Vs 56%
- New business premium up 22.9% at Rs 5,133 crore
- Value of new business at Rs 1,621 crore
- VNB Margins for FY21 at 25.1% Vs 21.7% in FY20
- AUM up 40% at Rs 2.14 lakh crore in FY21
- Recommended final dividend of Rs 2 per share
- Dr Reddy's Raised to overweight at Morgan Stanley; price target Rs 5,859
- Hero MotoCorp: Raised to neutral at Goldman; price target Rs 3,110.
- Voltas: Rated New Underperform at Macquarie; price target Rs 844.
- TVS Motor: Rated new buy at Phillip Secs; price target Rs 655.
- Aditya Birla Sun Life AMC Ltd., a unit of Aditya Birla Capital Ltd., filed a draft red herring prospectus for an initial public offering via a secondary sale of shares, according to a statement to stock exchanges.
- Aditya Birla Capital is seeking to sell as many as 2.85 million shares in the IPO
- Sun Life (India) AMC Investments Inc., the joint-venture partner in the Indian asset management co., will sell as many as 36 million shares
Pledge Share Details
- Adani Enterprises: Promoter Group (Gautam Adani and Rajesh Adani) revoked pledge of 3.50 lakh shares on April 16.
- Adani Ports and SEZ: Promoter Group (Gautam Adani and Rajesh Adani) revoked pledge of 67.13 lakh shares on April 16.
- Adani Transmission: Promoter Group (Gautam Adani and Rajesh Adani) revoked pledge of 15 lakh shares on April 16.
- Emami: Promoter Sneha Gardens revoked pledge of 1.50 lakh shares on April 15.
- Finolex Industries: Promoter Mukesh Katara revoked pledge of 14,400 shares on April 12.
- JSW Steel: Promoters (Sahyog Holdings, Vividh Finvest, JSW Techno Projects and JTPM Metal Traders) revoked pledge of 98.55 lakh shares between April 12-13.
As reported on April 19.
Who's Meeting Whom
- Hindustan Aeronautics: To meet ICICI Prudential Mutual Fund on April 20.
- Oriental Aromatics: To meet First Sentier Investors on April 20.
- Ex-Date AGM: Mahindra CIE Automotive
- Record Date Dividend: Vesuvius India
- Price Band Revised From 10% To 5%: Nureca
- Price Band Revised From 20% To 10%: KDDL
- Move Into ASM Framework: Century Plyboards (India), KDDL
- Move Into Short-Term ASM Framework: Tamilnadu PetroProducts, 5Paisa Capital, Suvidhaa Infoserve
- Move Out Of Short-Term ASM Framework: Cigniti Technologies, Panacea Biotec
Money Market Update
- The rupee ended at 74.87 against the U.S. Dollar on Monday as compared to Friday's closing of 74.35.
- Nifty April futures ended at 14,384; premium of 25 points.
- Nifty April futures shed 6.6% and 10,434 shares in Open Interest.
- Nifty Bank April futures ended at 31,267; premium of 59 points.
- Nifty Bank April futures shed 12.8% and 9,463 shares in Open Interest
- Stocks in F&O ban: SAIL and Sun TV