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

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.

Insider Trades

• 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.

Block Deals

• 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.

Trading Tweaks

• 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

F&O Cues

• 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