All You Need To Know Going Into Trade On June 2

Asian stocks made a steady start Wednesday after U.S. equities inched lower as the tussle between economic optimism and inflation concern continues to play out in markets.

Japanese stocks fluctuated while Australia and South Korea posted modest gains. U.S. equity contracts were flat after the S&P 500 and Nasdaq 100 closed with small losses.

The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, was little changed at 15,628 as of 7 a.m.

Oil rose to a more than two-year peak, with the OPEC+ alliance forecasting a tightening global crude market and a nuclear deal with Iran still up in the air.

The dollar was steady in Asian trading. The lira fell to another record low against the greenback after Turkey’s President Recep Tayyip Erdogan renewed calls for lower interest rates. The offshore yuan was little changed amid a push by the People’s Bank of China to temper its appreciation.

Meanwhile, Monetary Policy Committee starts meeting today and the decision to be announced on June 4.

Earnings Post Market Hours

ITC Q4FY21 (Consolidated, QoQ)

• Revenue up 9.1% at Rs 15,404.37 crore Vs Rs 14,124.48 crore
• Net profit up 6.5% at Rs 3,755.47 crore Vs Rs 3,526.55 crore
• Ebitda up 1.8% at Rs 4,871.12 crore from Rs 4784.02 crore
• Ebitda margin at 31.62% Vs 33.87%
• Recommended final dividend of Rs 5.75 per share. Record date for the same is June 11.

Gujarat Gas Q4FY21 (Consolidated, QoQ)

• Revenue up 21% at Rs 3,489.31 crore Vs Rs 2,885.70 crore
• Net profit down 11% at Rs 350.86 crore Vs Rs 392.30 crore
• Ebitda down 10% at Rs 554.25 crore Vs Rs 614.81 crore
• Ebitda margin at 15.9% Vs 21.3%
• Recommended dividend of Rs 2 per share

Stocks To Watch

• Fineotex Chemical: Approved raising up to Rs 200 crore by way of issuance of securities, through private placement, preferential issue, qualified institutions placement, follow-on public offering or a combination thereof.
• Gujarat Gas: Board of Directors have approved the acquisition of City Gas Distribution business for Amritsar and Bhatinda geographical areas from Gujarat State Petronet for Rs 163.31 crore. The acquisition is expected to be completed within 45-60 days.
• NMDC: Total production in May up 21.83% to 2.79 MT from 2.29 MT year-on-year. Total sales up 29.41% to 3.30 MT from 2.55 MT YoY.
• Patel Engineering: The company and its consortium lenders have completed the execution of the necessary agreements, deeds, security creation, undertakings, and other relevant documents for the implementation of the One Time Resolution Plan on May 31. The company had availed Covid relief from the consortium of lenders in the form of OTR.
• Indiabulls Housing Finance: Conversion price of 2026 USD Notes changed to Rs 230.14 per share.
• Reliance Industries: To hold annual shareholders’ meeting on June 24 via video conference; sets June 14 record date for dividend
• Jain Irrigation: Says its unit amends Debt Restructuring Support Pact
• Infosys: SEBI restrains Pranshu Bhutra from market in Infosys insider trading case
• Earnings: Motherson Sumi Systems, PVR, Muthoot Finance, MTAR Technologies, Panacea Biotec, Ratnamani Metals & Tubes

May Auto Sales

• Hero MotoCorp: Overall sales down 51% at 1,83,044 lakh units Vs 3,72,285 units. Motorcycle sales down 47.33% at 1,78,706 lakh units Vs 3,39,329 lakh units. Exports down 20.85% at 23,483 units Vs 29,671 units.
• Eicher Motors: Total Royal Enfield sales down 48.78% at 27,294 units Vs 53,298 units. Exports up 60% at units 7,221 Vs 4,509 units.
• Ashok Leyland: Total vehicle sales down 61.64% at 3,199 units Vs 8,340 units. Domestic sales down 65.60% at 2,738 units Vs 7,961 units.

Comparison made on a month-on-month basis.

Pledge Share Details

• Adani Ports and Special Economic Zone: Promoters (Adani Tradeline LLP, Gautam Adani and Rajesh Adani) revoked pledge of 12.50 lakh shares on May 31.
• Adani Transmission: Promoters (Adani Tradeline LLP, Gautam Adani and Rajesh Adani) revoked pledge of 1.37 crore shares on May 31.
• Nectar Lifesciences: Promoter Sanjiv Goyal created a pledge of 5.58 crore shares on May 31.
• IRB Infrastructure Developers: Promoter Dattatray Mhaiskar invoked pledge of 5 lakh shares on May 24-27.

Bulk Deals

• IRB Infrastructure Developers: HDFC Mutual Fund bought 24.62 lakh shares (0.70%) at Rs 111.34 per share.

Insider Trades

• Aarti Industries: Promoter Nikhil Holdings sold 36,000 shares on May 24.
• Kalyan Jewellers India: Promoters (TS Kalyanaraman, TK Seetharam and TK Ramesh) bought 44,700 shares on May 31.
• Man Infraconstruction: Promoter Parag Shah bought 1.50 lakh shares on May 31.
• Ultramarine & Pigments: Promoters (Sridhar Sundararajan HUF and Kala Sundarvedha) sold 32,000 shares on May 31.

Who’s Meeting Whom

• Gokaldas Exports: To meet Arihant Capital and Motilal Oswal AMC on June 2.
• Dixon Technologies (India): To meet Burman Family Holdings on June 3, Eastspring Investments on June 4 and Taiyo Pacific on June 10.

Trading Tweaks

• Ex-Date Special Dividend: Kanpur Plastipack
• Ex-Date Income Distribution: Tower Infrastructure Trust
• Record Date Income Distribution And Dividend: India Grid Trust
• Price Band Revised From 20% To 10%: Gokul Agro Resources, Pnb Housing Finance, Rupa & Company
• Move Into Short-Term ASM Framework: Gokul Agro Resources, Redington (India), Hindustan Media Ventures
• Move Out Of Short-Term ASM Framework: Tide Water Oil (India)
• Move Into ASM Framework: Tide Water Oil (India)

Money Market Update

• The rupee ended at 72.90 against the U.S. Dollar on Tuesday as compared to Monday's closing of 72.62.

F&O Cues

• Nifty June futures ended at 15,623.40; discount of 48.55 points.
• Nifty June futures added 1.37% and 1,924 shares in Open Interest
• Nifty Bank June futures ended at 35,470; premium of 132.8 points
• Nifty Bank June futures added 0.45% and 307 shares in Open Interest
• Securities added to the ban list: SAIL
• Securities that still remain on ban list: Bank of Baroda and Sun TV
• Securities out of the ban list: PNB