All You Need To Know Going Into Trade On June 23
Asian stocks were steady early Wednesday after reassuring comments on inflation and monetary policy from Federal Reserve officials. The dollar and Treasury yields held declines.
Japanese and South Korean stocks fluctuated, while Australian shares retreated. The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, rose 0.33% at 15,821.50 as of 7:15 a.m.
U.S. equity contracts edged up after the S&P 500 climbed a second day as Chair Jerome Powell reiterated his views that inflation pressures will be transitory even after a notable increase in recent months.
Oil traded around $73 a barrel after an industry report pointed to another decline in U.S. crude stockpiles. Bitcoin rebounded from a tumble below $30,000.
Earnings Post Market Hours
NMDC Q4FY21 (Consolidated, QoQ)
Revenue up 57% at Rs 6,847.57 crore Vs Rs 4,355.10 crore
Net profit up 35% at Rs 2,835.54 crore Vs Rs 2,108.05 crore
Ebitda up 53% at Rs 4,240.27 crore Vs Rs 2,766.77 crore
Ebitda margin at 61.9% Vs 63.5%
Bharat Electronics Q4FY21 (Consolidated, QoQ)
Revenue up 1.98 times at Rs 6,917.47 crore Vs Rs 2,320.39 crore
Net profit up 3.92 times at Rs 1,368.09 crore Vs Rs 278.05 crore
Ebitda up 3.34 times at Rs 1,980.90 crore Vs Rs 456.22 crore
Ebitda margin at 28.6% Vs 19.7%
Recommended a final dividend of Rs 1.20 per share
Sobha Q4FY21 (Consolidated, QoQ)
Revenue down 19% at Rs 553.40 crore Vs Rs 684.40 crore
Net profit down 17% at Rs 17.90 crore Vs Rs 21.60 crore
Ebitda down 16% at Rs 149.70 crore Vs Rs 178.60 crore
Ebitda margin at 27.1% Vs 26.1%
Recommended dividend of Rs 3.50 per share
Centrum Capital Q4FY21 (Consolidated, QoQ)
Revenue up 20% at Rs 144.43 crore Vs Rs 120.29 crore
Net loss at Rs 11.71 crore Vs Rs 16.02 crore
Ebitda up 38% at Rs 63.82 crore Vs Rs 46.09 crore
Ebitda margin at 44.2% Vs 38.3%
Approved up to Rs 1500 crore fund raising plan
Ashapura Minechem Q4FY21 (Consolidated, QoQ)
Revenue down 9% at Rs 319.65 crore Vs Rs 349.70 crore
Net profit up 16% at Rs 33.78 crore Vs Rs 29.23 crore
Ebitda up 27% at Rs 47.43 crore Vs Rs 37.38 crore
Ebitda margin at 14.8% Vs 10.7%
Recommended final dividend of Re 0.50 per share
Stocks To Watch
Jet Airways: NCLT Mumbai has approved the resolution plan submitted by the consortium comprising of Murari Lal Jalan and Kalrock Capital. The plan has been approved with the caveat that determination of landing slots will be done by the appropriate authority. Historic rights over landing slots won’t be available to Jet Airways but a request is being made to the government to see that the plan doesn’t get frustrated because of its obduration, the tribunal said.
HDFC Bank: To hire 500 people over two years in two entities the lender is setting up to strengthen its technology infrastructure. The “Digital Factory” arm will build new businesses based on upcoming tech stacks or applications, while the “Enterprise Factory” will upgrade legacy infrastructure. The bank will also develop IP technologies and move to a native cloud architecture in collaboration with technology companies, fintech and large IT firms.
Hero MotoCorp: To increase prices of its scooters and motorcycles by up to Rs 3,000 from July 1 to offset the impact of increased commodity costs. This is the third such price hike by Hero MotoCorp this year.
Vedanta: Has been awarded the Kuraloi (A) North coal block in Odisha with a geological reserve of 1,680 million tons. The mine, with an estimated annual capacity of 8 million tons, will ensure fuel security, improve power availability and further strengthen the company’s aluminium smelter operations in Jharsuguda, the company said.
The Phoenix Mills: CPP Investment has completed Rs 180 crore investment in Mindstone Mall, a wholly-owned subsidiary company, by subscribing to 11,682 equity shares and 17.65 crore Compulsorily Convertible Debentures.
Minda Industries: To acquire 51% stake in UZ Chasys LLC in Uzbekistan for a purchase consideration of 83.1 Bn Sams equivalent to Rs 58 crore.
Century Plyboards (India): The company’s wholly-owned subsidiary, Century Panels, has considered a proposal for setting up a new unit in Andhra Pradesh for manufacturing of Medium Density Fiber boards. The new MDF unit will cost company approximately Rs 500 crore.
Earnings: Allcargo Logistics, Apollo Hospitals Enterprise, Andrew Yule & Company, Hindustan Construction Co, Schneider Electric Infrastructure, Precision Wires India, Sharda Motor Industries
Pledge Share Details
Asian Granito India: Promoter Kamleshkumar Patel HUF revoked pledge of 72,310 shares on June 19.
Jindal Steel & Power: Promoter Siddeshwari Tradex created a pledge of 54 lakh shares on June 17.
As reported on June 22.
3i Infotech: Srei Multiple Asset Investment Trust sold 84.92 lakh shares (0.53%) at Rs 11.48 per share.
Central Depository Services (India):
Godrej Agrovet: Promoter Godrej Industries bought 9.76 lakh shares (0.51%) at Rs 570 per share.
Greenlam Industries: Promoter Greenply Leasing & Finance bought 1.35 lakh shares (0.56%) at Rs 1,150 per share. Promoter Saurabh Mittal sold 1.35 lakh shares (0.56%) at Rs 1,150 per share.
Adani Ports and SEZ: Promoter Worldwide Emerging Market Holding bought 7 lakh shares on June 21.
Adani Green Energy: Promoter Infinite Trade and Investment bought 14.20 lakh shares on June 21.
Asian Granito India: Promoters (Kamleshkumar Patel and Mukeshbhai Patel) sold 5.67 lakh shares between June 18-21.
Capacite Infraprojects: Promoters (Rohit Katyal, Rahul Katyal and Asutosh Trade Links) sold 34.93 lakh shares on June 18.
Ultramarine & Pigments: Promoters (Sridhar Sundararajan HUF and Kala Sundarvedha) sold 7,000 shares on June 21.
Valiant Organics: Promoter Dhanvanti Gala sold 6,493 shares on June 21.
HEG: Promoter Giltedged Industrial Securities bought 1.04 lakh shares (0.27%) at Rs 2,105 per share. Promoter Rishabh Jhunjhunwala sold 1.04 lakh shares (0.27%) at Rs 2,105 per share. Promoter Purvi Vanijya Niyojan bought 50,000 shares (0.13%) at Rs 2,275 per share. Promoter Riju Jhunjhunwala sold 50,000 shares (0.13%) at Rs 2,275 per share.
Who’s Meeting Whom
Computer Age Management Services: To meet Duro Capital on June 24, and Trident Capital and Janchor Partners on June 25.
Escorts: To meet Point72 Asset Management on June 25.
Heranba Industries: To meet Bharti AXA on June 23.
Indian Energy Exchange: To meet Motilal AMC on June 23, ICICI Prudential Life on June 25, and Alliance Bernstein on June 30.
Ex-Date Dividend: Adani Total Gas, Adani Ports and SEZ, Vinati Organics, Torrent Power
Ex-Date Stock Split: Inventure Growth & Securities
Price Band Revised From 10% To 5%: Globus Spirits, Srei Infrastructure Finance
Move Into Short-Term ASM Framework: Crisil
Move Out Of Short-Term ASM Framework: Alok Industries, Skipper, Hindustan Construction Company, Reliance Industrial Infrastructure
Move Into ASM Framework: Hikal, Panacea Biotec, Reliance Industrial Infrastructure, Nectar Lifesciences, Reliance Capital, Somany Ceramics
Money Market Update
Indian sovereign bond traders will await the results of a Rs 36,000 crore ($4.8b) Treasury-bill sale later on Wednesday. Market participants will weigh comments by Fed Chair Jerome Powell that recent price increases are likely to be short-lived.
10-year yields little changed at 6.03% on Tuesday
USD/INR rose 0.4% to 74.3650 on Tuesday
Implied opening from forwards suggest spot may start trading around 74.23
Nifty June futures ended at 15,757; discount of 15.75 points.
Nifty June futures shed 23.75% and 25,280 shares in Open Interest
Nifty Bank June futures ended at 34,758.70; premium of 13.7 points
Nifty Bank June futures shed 20.03% and 10,816 shares in Open Interest
Securities that continue to be in ban list: Sun TV and Vodafone Idea