All You Need To Know Going Into Trade On June 16

Asian stocks saw a muted start Wednesday after their U.S. peers retreated from all-time highs, with investors awaiting a policy decision from the Federal Reserve.

Shares opened a touch higher in Japan and Australia, and South Korean stocks led gains. U.S. futures were little changed in early trading. Earlier, weakness in the technology and real estate sectors helped snap a three-day winning streak for S&P 500 Index.

The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, fell 0.16% at 15,828.50 as of 7 a.m.

The 10-year Treasury yield held around 1.5% after Commerce Department figures showed retail sales declined in May. Producer prices further stoked price pressures, rising more than expected in May. The dollar held gains versus major peers.

Elsewhere, Bitcoin fluctuated around $40,000. West Texas Intermediate crude traded above $72 a barrel as investors weighed the outlook for rising demand against extended anti-virus curbs in some economies.

Earnings Post Market Hours

LIC Housing Finance Q4FY21 (Consolidated, QoQ)

• NII up 21% at Rs 1,589.64 crore Vs Rs 1,316.62 crore
• Net profit down 47% at Rs 384.93 crore Vs Rs 721.11 crore
• Loan-loss provision at Rs 977.19 crore Vs Rs 180.95 crore
• Recommended a dividend of Rs 8.50 per share
• Approved preferential allotment of 4.54 crore shares to LIC

Lemon Tree Hotels Q4FY21 (Consolidated, QoQ)

• Revenue up 39% at Rs 95.08 crore Vs Rs 68.37 crore
• Net loss at Rs 26.71 crore Vs Rs 45.72 crore
• Ebitda up 42% at Rs 28.53 crore Vs Rs 20.08 crore
• Ebitda margin at 30% Vs 29.4%

Stocks To Watch

• Dr. Reddy’s Laboratories: International Center for Dispute Resolution, U.S. has ordered a subsidiary of the company to pay $46.25 million (towards milestones, interest and fees) to Hatchtech Pty. for a skin treatment lotion. Dr Reddy’s arm signed an asset-purchase agreement with Hatchtech in 2015. In July 2020, the company received approval from the U.S. FDA for Xeglyze (abametapir) lotion. That triggered a contractual pre-commercialisation milestone payment of $20 million to Hatchtech. That amount is included in the award, along with interest and fees, by the international arbitrator.

• Jubilant Pharmova: Jubilant HollisterStier LLC, a step-down subsidiary of the company, has partnered with Ocugen Inc. for manufacturing of Covid-19 vaccine candidate, Covaxin, for the U.S. and Canadian markets.

• RITES: Emerged as the lowest bidder for Rs 1,741 crore railways project. A tender was called the Ministry of Railways for railway electrification work on a turnkey basis.

• Wipro: Extended its partnership with Levi Strauss & Co. The four-year agreement builds upon the companies’ existing collaboration in digital commerce, infrastructure, and finance. Wipro will provide Global IT support services across Levi Strauss & Co.’s consumer digital technology space. Further, the company has announced a strategic partnership with FEV to open Innovation Lab for developing Software Defined Vehicles. The lab will help automakers, OEMs create enhanced automobile experiences.

• Godrej Agrovet: Executed a share purchase agreement with Saar Yavin and Adaya Aroyo, Maxximilk Ltd (Israel) and Godrej Maxximilk Pvt Ltd for the acquisition of 2.95 lakh shares of GMPL. Post-acquisition GMPL will become a wholly-owned subsidiary of the company. The acquisition was made at Rs 10 crore and is expected to be completed before June 30.

• ICICI Bank: Allotted 28,274 unsecured long-term bonds in the nature of debentures aggregating to Rs 2,827.4 crore on a private placement basis on June 15. The bonds carry a coupon rate of 6.45% per annum for a period of seven years.

• Videocon Industries: Has fixed June 18 as the record date for the purpose of delisting of equity shares from BSE and NSE.

• Nesco: Appointed Krishna Patel as the Chairman and Managing Director with effect from June 15. Patel will replace Sumant Patel, who has been appointed as Executive Director and Chief Mentor of the company effective June 15.

• Earnings: Asahi India Glass, CESC, Nureca, Olectra Greentech, Rites, RPSG Ventures, Somany Ceramics, Welspun Enterprises

IPO Watch

• Dodla Dairy IPO at Rs 421-428/share open for sale, offer closes June 18

• Krishna Institute of Medical Sciences IPO at Rs 815-825/share open for sale; offer closes June 18

• JSW Ispat Special Products OFS shares to retail investors open; non-retail investor gets 3.06 times demand on Tuesday

• Shyam Metalics IPO gets 365% demand on second day sale, offer closes June 16

• Sona BLW Precision IPO gets 27% demand on first day sale, offer closes June 16

Pledge Share Details

• Emami: Promoter Sneha Enclave created a pledge of 15 lakh shares between June 10-11. Promoter Sneha Gardens revoked pledge of 3 lakh shares on June 11.
• Jindal Steel & Power: Promoter OPJ Trading revoked pledge of 42.21 lakh shares between June 9-10.As reported on June 15.

Bulk Deals

• Action Construction Equipment: WHV-EAM International Small Cap Equity Fund bought 12.93 lakh shares (1.14%) at Rs 230.7 per share.
• Globus Spirits: Templeton Strategic Emerging Markets Fund sold 2.36 lakh shares (0.82%) at Rs 430.18 per share.
• Jagran Prakashan: Franklin Templeton Mutual Fund sold 16.17 lakh shares (0.58%) at Rs 61.79 per share.
• Newgen Software Technologies: Kuber India Fund bought 11.01 lakh shares (1.57%) at Rs 454 per share. Promoter Priyadarshini Nigam sold 13.99 lakh shares (2%) at Rs 454 per share. Promoter Diwakar Nigam sold 27.98 lakh shares (4%) at Rs 454.20 per share. MS Param Value Investments bought 5 lakh shares (0.71%) at Rs 454 per share. Al Mehwar Commercial Invstments LLC bought 6.21 lakh shares (0.89%) at Rs 454 per share. Ashoka India Opportunities Fund bought 10.01 lakh shares (1.43%) at Rs 454 per share. India Acorn Fund bought 3.73 lakh shares (0.53%) at Rs 454 per share. Abu Dhabi Investment Authority bought 16.52 lakh shares (2.36%) at Rs 454 per share. Promoter Varadarajan sold 31.96 lakh shares (4.57%) at Rs 454 per share.
• Zee Learn: Morgan Stanley Asia (Singapore) Pte sold 40.18 lakh shares (1.23%) at Rs 18.69 per share.

Insider Trades

• Adani Green Energy: Promoter Infinite Trade and Investment bought 15 lakh shares on June 14.
• Asian Granito India: Promoter Kamleshkumar Patel sold 1.50 lakh shares on June 14.
• Godrej Agrovet: Promoter Godrej Industries bought 36,772 shares on June 10.
• Mold-Tek Packaging: Promoter Golukonda Satyavati sold 2,000 shares between June 4-10.
• Ultramarine & Pigments: Promoters (Sridhar Sundararajan HUF and Kala Sundarvedha) sold 6,185 shares on June 14.

Block Deals

• HEG: LNJ Financial Services bought 1.50 lakh shares (0.39%) at Rs 2,280 per share. Promoter Jhunjhunwala Ravi sold 1.50 lakh shares (0.39%) at Rs 2,280 per share.

Who’s Meeting Whom

• Surya Roshni: To meet PhillipCapital (India) on June 16.
• VIP Industries: To meet Enam AMC on June 16.
• Bajaj Electricals: To meet PhillipCapital (India) on June 17.

Trading Tweaks

• Ex-Date AGM: Bank of Maharashtra, Tejas Networks
• Ex-Date Dividend: ICICI Prudential Life Insurance Company, Linde India, Tata Investment Corporation, Shriram Transport Finance Company
• Price Band Revised From 10% To 5%: Arshiya, Future Lifestyle Fashions, Future Retail, Future Supply Chain Solutions, Jaiprakash Associates
• Price Band Revised From 20% To 10%: Future Consumer, Reliance Industrial Infrastructure, Sarda Energy & Minerals
• Move Into ASM Framework: HEG, Sarda Energy & Minerals, Godawari Power & Ispat, eClerx Services
• Move Into Short-Term ASM Framework: Reliance Industrial Infrastructure
• Move Out Of Short-Term ASM Framework: IndoStar Capital Finance, Spandana Sphoorty Financial, Ador Welding, Suzlon Energy, Religare Enterprises, IIFL Securities

Money Market Update

• The rupee ended at 73.30 against the U.S. Dollar on Tuesday as compared to Monday's closing of 73.27.

F&O Cues

• Nifty June futures ended at 15,871.10; a premium of 1.85 points.
• Nifty June futures added 4.09% and 6,328 shares in Open Interest
• Nifty Bank June futures ended at 35,296.05; premium of 48.3 points
• Nifty Bank June futures shed 2.07% and 1,260 shares in Open Interest
• Securities added to ban list: Adani Ports & SEZ and Escorts
• Securities that continue to be on the ban list: Canara Bank, PNB, Nalco and Sun TV
• Securities removed from ban list: Indiabulls Housing Finance