All You Need To Know Going Into Trade On June 25
Asian stocks opened in the green Friday after U.S. shares hit a record on a bipartisan $579 billion U.S. infrastructure deal that stoked economic optimism.
Shares climbed in Japan, South Korea and Australia, and Hong Kong futures pointed higher. The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, was little changed at 15,846 as of 7:30 a.m.
U.S. contracts were little changed after the S&P 500 and Nasdaq 100 reached new peaks. Sectors seen as beneficiaries of the recovery from the pandemic, such as energy, led gains. U.S. banks rose in postmarket trading after clearing stress tests.
The benchmark 10-year U.S. Treasury yield was little changed after climbing over the week. Investors took the latest comments from Federal Reserve officials in their stride, after the central bank reassured on supportive policy while signaling that exceptional stimulus is set to be trimmed gradually.
An MSCI Inc. gauge of global stocks is on course for its best week since April, underpinned by the economic reopening from the health crisis
The Mexican peso rallied, spurred by an unexpected central bank interest-rate increase. But the Bank of England pushed back against speculation that a surge in U.K. inflation heralds higher borrowing costs. The pound edged lower.
West Texas Intermediate crude oil stayed above $73 a barrel. Traders are awaiting upcoming deliberations among OPEC+ producers that may lead to a supply hike. Bitcoin extended a rebound from a swoon earlier in the week.
Earnings Post Market Hours
ONGC Q4FY21 (Standalone, QoQ)
Revenue up 24.5% at Rs 21,188.91 crore Vs Rs 17,023.8 crore (Bloomberg Estimate: Rs 21,843 crore)
Net profit up 435.2% at Rs 6,733.97 crore Vs Rs 1,258.12 crore (Bloomberg Estimate: Rs 3,503.2 crore)
Ebitda up 25.2% at Rs Rs 8,149.35 crore Vs Rs 6,507.59 crore (Bloomberg Estimate: Rs 10,569.6 crore)
Ebitda margins at 38.5% Vs 38.2% (Bloomberg Estimate: 48.4%)
Recommended final dividend of Rs 1.85 per share
Appointed Subhash Kumar, CEO, as the Chairman & Managing Director of the company
Ashok Leyland Q4FY21 (Consolidated, QoQ)
Revenue up 37% at Rs 8,142.11 crore Vs Rs 5,954.17 crore
Net profit up 23.76 times at Rs 352.56 crore Vs Rs 14.24 crore
Ebitda up 36% at Rs 1,013.30 crore Vs Rs 747 crore
Ebitda margin at 12.4% Vs 12.5%
PTC India Q4FY21 (Consolidated, QoQ)
Revenue up 3% at Rs 3,916.58 crore Vs Rs 3,793.51 crore
Net profit down 36% at Rs 68.56 crore Vs Rs 106.85 crore
Ebitda down 10% at Rs 364.43 crore Vs Rs 406.68 crore
Ebitda margin at 9.3% Vs 10.7%
Mishra Dhatu Nigam Q4FY21 (Consolidated, QoQ)
Revenue up 84% at Rs 345.87 crore Vs Rs 190.08 crore
Net profit up 24% at Rs 74.71 crore Vs Rs 60.13 crore
Ebitda up 19% at Rs 103.11 crore Vs Rs 86.4 crore
Ebitda margin at 29.8% Vs 45.5%
Recommended final dividend of Rs 1.58 per share
The order book position stood at Rs 1,353 crore
Stocks To Watch
LIC Housing Finance: To issue 4.54 crore shares at Rs 514.25 each to Life Insurance Corporation of India on a private placement basis. LIC’s shareholding in the company after the proposed preferential allotment of shares will increase to 45.24% from 40.31%.
Indian Bank: Approved the closure of QIP on June 24 and set issue price at Rs 142.15 per share. Received application forms for an amount aggregating to Rs 1,650 crore from eligible Qualified Institutional Buyers.
Union Bank of India: Allotted Basel Ill Compliant Tier II Bonds of face value of Rs 10 lakh each aggregating to Rs 850 crore on private placement basis. The coupon rate has been set at 7.19% per annum for a period of 10 years.
Laurus Labs: CARE Ratings has upgraded the credit rating of the long-term banking facilities of the company to AA/Stable from AA-/Positive.
Aarti Industries: Authorised the opening of QIP on June 24. The floor price of Rs 899.77 per share is at a premium of 3.21% to Thursday’s closing price. Board to meet on June 30 to approve the issue price for equity shares to be allotted to the qualified institutional buyers.
PTC India: Approved a Letter of Intent dated June 17, for acquisition of the energy consulting business undertaking of IL&FS Energy Development Company, a group company of IL&FS, for an undisclosed value, on a slump sale basis.
Asian Granito India: Crystal Ceramics Industries, a material subsidiary of the company, has invested Rs 25 crore for capacity expansion at its Mehsana Plant in Gujarat. This capacity addition will increase total capacity of Crystal Ceramics to 36,000 SQMTS/day.
Earnings: JSW Energy, Hindustan Copper, Indraprastha Gas, Balmer Lawrie & Co, Banco Products (India), Oswal Greentech, Finolex Industries, Forbes & Company, Godfrey Phillips India, HCL Infosystems, Orient Refractories, PNC Infratech, Apex Frozen Foods, Antony Waste Handling Cell, Hexa Tradex, India Glycols, Ind-Swift Laboratories, Inox Wind, KCP, Maharashtra Seamless, MSTC, NCL Industries, Pix Transmissions, Puravankara, Shree Renuka Sugars, State Trading Corporation Of India, Tajgvk Hotels & Resorts, Technocraft Industries (India), United Drilling Tools, Voltamp Transformers
State Bank of India
Pledge Share Details
Emami: Promoters (Sneha Enclave and Sneha Gardens) revoked pledge of 20 lakh shares between June 21-23.
JSW Energy: Promoters (Indusglobe Multiventures and JSW Investments) revoked pledge of 2.36 crore shares between June 21-23.
As reported on June 24.
Adani Green Energy: Promoter Infinite Trade and Investment bought 10 lakh shares on June 23.
Jubilant Ingrevia: Promoter Miller Holdings Pte bought 3.85 lakh shares between June 22-23.
JK Cement: Promoter Ramapati Singhania sold 2,000 shares on June 23.
Persistent Systems: Promoter Sulabha Deshpande sold 9.980 shares on June 22.
Page Industries: Promoters (Sunder Genomal, Ramesh Genomal and Nari Genomal) sold 12,765 shares between June 21-23.
Surya Roshni: Promoter Surya Roshni Employees Welfare Trust bought 55,000 shares between June 21-23.
Ultramarine & Pigments: Promoters (Sridhar Sundararajan HUF and Kala Sundarvedha) sold 3,531 shares on June 23.
Valiant Organics: Promoter Dhanvanti Gala sold 40,347 shares between June 22-23.
HEG: Promoter Giltedged Industrial Securities bought 1.68 lakh shares (0.44%) at Rs 2,210 per share. Promoter Jhunjhunwala Rita sold 70,000 shares (0.18%) at Rs 2,210 per share. Promoter Jhunjhunwala Ravi sold 98,000 shares (0.25%) at Rs 2,210 per share.
Ex-Date Interim Dividend: R Systems International
Ex-Date Final Dividend: Supreme Petrochem
Ex-Date Dividend: Vimta Labs
Price Band Revised From 10% To 5%: Somany Ceramics
Record Date Stock Split: Inventure Growth & Securities
Record Date Dividend: Adani Total Gas, Adani Ports and SEZ, Torrent Power
Move Out Of Short-Term ASM Framework: Action Construction Equipment, Future Lifestyle Fashions, Marksans Pharma, Arshiya, Anup Engineering, GTL Infrastructure
Move Into ASM Framework: GTL Infrastructure, NCL Industries
Money Market Update
Indian bond traders will await the results of a Rs 26,000 crore ($3.5b) sale of government bonds later on Friday. The rupee may open higher along with other emerging Asian currencies.
10-year yields fell 1bp to 6.01% on Thursday; yields on 5-year bond up 3bps this week amid concerns higher oil prices may fuel inflation
“High crude prices are adding significant inflationary pressure on India,” Oil Minister Dharmendra Pradhan told OPEC’s top official during a video-conference on Thursday, according to a statement on Twitter. He called for “affordable” supplies, with prices in a “reasonable band,” and repeated a request for OPEC+ to boost production
USD/INR fell 0.2% to 74.1675 on Thursday
Implied opening from forwards suggest spot may start trading around 74.19
Nifty June futures ended at 15,790; a discount of 0.45 points.
Nifty June futures shed 58.23% and 32,870 shares in Open Interest
Nifty Bank June futures ended at 34,825; a discount of 2 points
Nifty Bank June futures shed 58.31% and 20,476 shares in Open Interest
Securities removed from ban list: Sun TV, Vodafone Idea