All You Need To Know Going Into Trade On June 22
Asian stocks opened higher Tuesday, tracking a U.S. equity rebound as the prospect of very gradual policy tightening tempers some of the concerns about the Federal Reserve’s hawkish tilt.
Japan outperformed, while Australia and South Korea had more subdued gains. The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, rose 0.35% at 15,784 as of 7 a.m.
The S&P 500 rallied the most in five weeks, outperforming the technology-heavy Nasdaq 100, aided by a revival of the value trade in sectors like energy and financials. U.S. equity contracts were steady in early trading.
Crude oil and gold were little changed after jumping as a dollar gauge snapped a six-session winning streak. Bitcoin sank after China intensified its cryptocurrency clampdown.
Earnings Post Market Hours
Oil India Q4FY21 (Consolidated, QoQ)
Revenue up 3% at Rs 6,504.94 crore Vs Rs 6,329.96 crore
Net sales up 2% at Rs 4,499.03 crore Vs Rs 4,431.09 crore
Net profit down 32% at Rs 950.48 crore Vs Rs 1,399.81 crore
Ebitda down 63% at Rs 1,886.87 crore Vs Rs 1,160.79 crore
Ebitda margin at 41.9% Vs 26.2%
Recommended final dividend of Rs 1.50 per share
VST Tillers Tractors Q4FY21 (Consolidated, QoQ)
Revenue down 4% at Rs 194.74 crore Vs Rs 202.87 crore
Net profit down 58% at Rs 12.93 crore Vs Rs 30.83 crore
Ebitda down 74% at Rs 7.83 crore Vs Rs 29.85 crore
Ebitda margin 4% Vs 14.7%
Company has entered into a Product Development Agreement with Zetor Tractors a.s., Czech Republic for development of tractors with horsepower of greater than 36 HP
Jaiprakash Associates Q4FY21 (Consolidated, QoQ)
Revenue up 75% at Rs 2,517.20 crore Vs Rs 1,440.35 crore
Net profit of Rs 424.41 crore Vs Net loss of Rs 302.06
Ebitda up 8.32 times at Rs 691.60 crore Vs Rs 74.22 crore
Ebitda margin at 27.5% Vs 5.2%
Stocks To Watch
Bharti Airtel and Tata Group have announced a strategic partnership for implementing 5G networks solutions for India. Tata Group has developed a O-RAN based Radio and NSA/SA Core and has integrated a totally indigenous telecom stack, leveraging the Group capabilities and that of its partners. This will be available for commercial development starting January 2022. Airtel will pilot and deploy the indigenous solution as part of its 5G rollout plans in India and start the pilot in January 2022, as per the guidelines formulated by the government.
State Bank of India: Approved raising up to Rs 14,000 crore in Additional Tier 1 Capital. The Central Board of the bank approved raising the funds through issue of Basel III-compliant debt instrument in USD and/or Indian rupees during FY22. Fund raise subject to Government of India concurrence.
Dish TV India: Approved fund raising of up to Rs 1000 crore through rights issue of equity shares. The company plans to issue rights shares at Rs 10 each.
PNB Housing Finance: The Securities Appellate Tribunal has allowed PNB Housing Finance to move ahead with its scheduled EGM on June 22. The company can put to vote the resolution to raise capital via preferential allotment but can’t declare the results, SAT said. On May 31, PNB Housing Finance had announced a preferential issue of shares to a group of investors led by Pluto Investments - an entity connected to private equity firm Carlyle Group.
Indian Bank: Authorised opening of QIP from June 21. The floor price set at Rs 142.15 per share is at a discount of 2.30% to Monday’s closing price.
Brigade Enterprises: Authorised opening of QIP from June 21. The floor price set at Rs 276.50 per share is at a discount of 0.84% to Monday’s closing price. Committee of Directors to meet on June 25 to approve the issue price.
BL Kashyap and Sons: Secured new orders from domestic unrelated clients aggregating to Rs 369.17 crore. The company’s total order inflow during FY22 stands at Rs 504.17 crore.
Delta Corp: The casinos operated by the company and its subsidiaries in Goa and Sikkim will remain closed till June 28 as the states have extended the lockdowns due to surge in Covid-19 cases.
KPIT Technologies: To acquire a controlling stake in PathPartner Technology. The company will acquire 60% stake for Rs 89 crore and the balance stake is proposed to be acquired over a period of 2 years against defined growth targets. The company will pay around Rs 191 crore for the 100% stake. The deal is expected to be completed in the second quarter of FY22.
Craftsman Automation: Dissolved Craftsman Automation Singapore Pte, a wholly owned subsidiary of the company.
PG Electroplast: Approved an incoming investment of Rs 76.6 crore from Baring Private Equity India AIF, Ananta Capital and others. The company will issue equity shares and Compulsorily Convertible Debentures to these investors.
Earnings: NMDC, Religare Enterprises, Ashapura Minechem, Aster DM Healthcare, Avanti Feeds, Bharat Electronics, GE Power India, ITI, Jindal Worldwide, Jaypee Infratech, Media Matrix Worldwide, PNB Gilts, Prozone Intu Properties, Sastasundar Ventures, Sobha
IIFL Home Finance files draft prospectus for Rs 5000 crore NCD issue.
Hindustan Unilever (3 p.m.)
Indian Hotels (3 p.m.)
Nippon Life India Asset Management (12 p.m.)
3i Infotech: SREI Multiple Asset Investment Trust sold 2.50 crore shares (1.55%) at Rs 11 per share.
NIIT: Pace Education and Financial Services sold 7.58 lakh shares at Rs 264.10 per share.
Pledge Share Details
JSW Steel: Promoters (Siddeshwari Tradex and Urmila Bhuwalka) created a pledge of 1.41 crore shares between March 30 and June 17.
JSW Energy: Promoters (Indusglobe Multiventures and JSW Investments) revoked pledge of 1.54 crore shares between June 17-18.
DB Corp: Promoter DB Consolidated revoked pledge of 25 lakh shares on June 21.
As reported on June 21.
Adani Ports and Special Economic Zone: Promoter Worldwide Emerging Market Holding bought 16.39 lakh shares on June 18.
Adani Green Energy: Promoter Infinite Trade and Investment bought 6 lakh shares on June 18.
Asian Granito India: Promoters (Dipakbhai Patel HUF, Ushaben Patel, Danjibhai Patel) sold 62,488 shares on June 18.
Dixon Technologies (India): Promoter Geeta Vaswani sold 1,773 shares between June 15-18.
Globus Spirits: Promoter Shekhar Swarup bought 17,900 shares on June 18.
JK Cement: Promoter Ramapati Singhania sold 3,873 shares between June 16-18
Panama Petrochem: Promoter Panama Builders Developers bought 34,411 shares between June 17-18.
HEG: Promoter LNJ Financial Services bought 1.50 lakh shares (0.39%) at Rs 2,085 per share. Promoter Jhunjhunwala Ravi sold 1.50 lakh shares (0.39%) at Rs 2,085 per share.
Who’s Meeting Whom
Tata Consumer Products: To meet Goldman Sachs India Securities on June 22.
Eicher Motors: To meet Amansa Capital Pte and Fidelity Management and Research Inc on June 22, and ICICI Prudential Life Insurance Co. on June 24.
Rossari Biotech: To meet First State Investments and Anand Rathi Securities on June 22, and Enam AMC on June 24.
The Phoenix Mills: To meet TT International on June 22 and Motilal Oswal AMC on June 24.
Blue Star: To meet IDFC Mutual Fund on June 22.
Multi Commodity Exchange of India: To meet Spark Capital Advisors on June 22, PineBridge Investments on June 23, and Kayne Anderson Rudnick Investment Management on June 24.
Sudarshan Chemical Industries: To meet Enam AMC and Vallum Capital on June 22.
Anupam Rasayan India: To meet Motilal Oswal Financial Services on June 22 and Mirae Asset MF on June 23.
Ex-Date AGM: MPS, IIFL Securities, IIFL Finance
Ex-Date Dividend: Bhansali Engineering Polymers
Ex-Date Bonus Issue: Aarti Industries
Record Date Interim Dividend: Info Edge (India)
Record Date AGM: Angel Broking
Price Band Revised From 20% To 10%: BF Utilities, Patel Engineering, Somany Ceramics
Move Out Of Short-Term ASM Framework: RPSG Ventures, Cerebra Integrated Technologies, Network18 Media & Investments, Uniphos Enterprises, Gokaldas Exports
Move Into ASM Framework: Datamatics Global Services, Somany Ceramics
Money Market Update
The rupee ended at 74.1 against the U.S. Dollar on Monday as compared to Friday's closing of 73.87.
Nifty June futures ended at 15,748.85; premium of 2.35 points.
Nifty June futures shed 8.47% and 9,889 shares in Open Interest
Nifty Bank June futures ended at 34,944.40; premium of 73.1 points
Nifty Bank June futures shed 5.15% and 2,947 shares in Open Interest
Securities added to ban list: Vodafone Idea
Securities removed from ban list: Adani Ports, BHEL, Punjab National Bank
Securities that continue to be in ban list: Sun TV