All You Need To Know Going Into Trade On June 30

Asian stocks rose early Wednesday after U.S. shares closed at a record on economic optimism and signs that vaccines can counter a highly infectious coronavirus strain.

Japanese, Australian and South Korean shares climbed modestly. U.S. contracts were higher after the S&P 500 eked out a gain, remaining on track for a fifth monthly advance -- the longest run since August.

The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, rose 0.2% to 15,817 as of 7:15 a.m.

The dollar has firmed on haven demand due to delta outbreaks, a climb that has hurt gold, which is set for the biggest monthly drop in over four years. Treasuries were steady as traders digested the latest Fed comments. On asset purchases, Thomas Barkin said he wants to see much more U.S. labor market progress before slowing them, while Christopher Waller said U.S. economic performance warrants thinking about pulling back on some stimulus.

Data overnight underscored optimism about the U.S. recovery. Consumer confidence soared in June to a fresh pandemic high as Americans became more upbeat about the economy and job market. Home prices jumped the most in more than 30 years in April.

Oil climbed back above $73 a barrel. OPEC+ ministers are divided ahead of a key meeting later this week on production policy.

• 4pm: India fiscal deficit in rupees for April-May Period, prior 78,699

• 5:30pm: Eight Infrastructure Industries Index for May (prior 56.1%)

• India Q1 BoP Current Account Balance, est. -$7.45b, prior -$1.7b

Earnings Post Market Hours

Rail Vikas Nigam Q4FY21 (Consolidated, QoQ)

• Revenue up 41% at Rs 5,577.92 crore Vs Rs 3,732.44 crore

• Net profit up 11% at Rs 312.63 crore Vs Rs 281.02 crore

• Ebitda up 61% at Rs 354.07 crore Vs Rs 219.8 crore

• Ebitda margin at 6.3% Vs 5.9%

• Recommended final dividend of 44 paisa per share

Ruchi Soya Industries Q4FY21 (Standalone, QoQ)

• Revenue up 8% at Rs 4,838.50 crore Vs Rs 4,465.32 crore

• Net profit up 38% at Rs 314.33 crore Vs Rs 227.44 crore

• Ebitda down 27% at Rs 249.58 crore Vs Rs 341.43 crore

• Ebitda margin at 5.2% Vs 7.6%

• Had tax gain of Rs 166.37 crore

Finolex Cables Q4FY21 (Consolidated, QoQ)

• Revenue up 11% at Rs 921.35 crore Vs Rs 830.23 crore

• Net profit up 14% at Rs 167.59 crore Vs Rs 146.99 crore

• Ebitda up 24% at Rs 135.14 crore Vs Rs 109.14 crore

• Ebitda margin at 14.7% Vs 13.1%

• Recommended a final dividend of Rs 5.50 per share

EID-Parry (India) Q4FY21 (Consolidated, QoQ)

• Revenue down 17% at Rs 3,907.96 crore Vs Rs 4,701.19 crore

• Net loss at Rs 6.34 crore Vs Net profit Rs 106.58 crore

• Ebitda down 47% at Rs 302.19 crore Vs Rs 565.16 crore

• Ebitda margin at 7.7% Vs 12%

Stocks To Watch

• Cipla, Dr. Reddy’s Laboratories, Emcure Pharmaceuticals, Sun Pharmaceutical Industries and Torrent Pharmaceuticals will collaborate for clinical trial of investigational anti-viral drug Molnupiravir for the treatment of mild Covid-19 in an outpatient setting. The companies will jointly sponsor, supervise and monitor the clinical trial in India; trial expected to take place between June and September this year across the country with the recruitment of 1,200 patients.

• AstraZeneca Pharma India: Told to pay Rs 157 crore by National Pharmaceutical Pricing Authority. NPPA issued the demand notice to AstraZeneca India alleging the company overcharged the same amount in the sale of Tagrisso tablets from March 8, 2019 to January 31, 2021. AstraZeneca said it has followed all applicable laws related to pricing of its product. The drugmaker has filed a petition in Delhi high court challenging the NPPA notice.

• Reliance Industries: Has partnered with Abu Dhabi National Oil Company to set up a new petrochemical complex in Ruwais, Abu Dhabi. This will be a new chlor-alkali, ethylene dichloride and polyvinyl chloride production facility. The project will be constructed in the TA’ZIZ Industrial Chemicals Zone, which is a joint venture between ADNOC and ADQ. Under the terms of the agreement, this integrated plant will have a capacity to produce 940 thousand tons of chlor-alkali, 1.1 million tons of ethylene dichloride and 360 thousand tons of PVC annually.

• Cipla: Is supporting Moderna Inc. with the regulatory approval and importation of vaccines to be donated to India. At this stage, there is no definitive agreement on commercial supplies.

• Bharti Airtel: Bharti Global to invest additional $500 million in OneWeb, a U.K.-based satellite start-up. Bharti Global will become the biggest shareholder in OneWeb following the investment, according to a Financial Times report. Bharti’s stake now stands at almost 39%; U.K. government, Eutelsat and SoftBank each hold slightly over 19% in the company.

• Induslnd Bank: Sold 70.67 lakh equity shares of McLeod Russel India on June 28.

• Coal India: To create carbon offset of around 2.5 lakh tonnes in next five years. It aims to achieve carbon offset of more than 60,000 tonnes by end of this year. In a bid to reduce carbon footprint in its operational area, Coal India has put special thrust on energy efficiency measures and is forging ahead with a series of measures to offset carbon emission in mining operation in all its coal-producing companies.

• CG Power and Industrial Solutions: CBI has registered an FIR against the company, its erstwhile promoters and some of the past directors/officials. The FIR is based on a complaint filed by State Bank of India on behalf of all the former lenders of the company. The company is extending full support and co-operation to CBI, it said in an exchange filing.

• Isgec Heavy Engineering: Received an order for Wet Limestone Flue Gas Desulphurisation System and Flue Gas Conditioning System Package from Odisha Power Generation Corporation for their Thermal Power Station at Banharpalli.

• DCM Shriram Industries: Approved sub-division of existing one share of face value of Rs 10 each into five shares of face value of Rs 2 each. This is being done to improve the liquidity of the company's shares on the stock market and to make the same available to small investors.

• NBCC (India): Has been awarded the work order for engagement as Project Management Consultant for undertaking various civil works of Odisha Hydro Power Corporation.

• Earnings: SpiceJet, Vodafone Idea, Balu Forge Industries, Anant Raj, BF Utilities, Cerebra Integrated Technologies, Coffee Day Enterprises, Dish TV India, IRCON International, Sadbhav Engineering, Srei Infrastructure Finance, Sequent Scientific, Jain Irrigation Systems, Rajesh Exports

Offerings

• GR Infraprojects IPO open for sale on July 7, closes July 9

Pledge Share Details

• Adani Ports and SEZ: Promoter group (Gautam Adani and Rajesh Adani) revoked pledge of 25,000 shares on June 28.

• Asahi India Glass: Promoter Sanjay Labroo created a pledge of 1.50 lakh shares on June 25.

• Emami: Promoter Sneha Enclave revoked pledge of 2 lakh shares on June 24.

• Jindal Steel & Power: Promoter Siddeshwari Tradex created a pledge of 14 lakh shares on June 24.

  As reported on June 29.

Bulk Deals

• Godrej Agrovet: Promoter Godrej Industries bought 31.26 lakh shares (1.63%) at Rs 621.51 per share.

• Godrej Industries: Promoter TAD Family Trust bought 25.20 lakh shares (0.75%) at Rs 575 per share. Promoter HNG Family Trust bought 25.20 lakh shares (0.75%) at Rs 575 per share. Promoter SNG Family Trust bought 25.20 lakh shares (0.75%) at Rs 575 per share. Promoter PG Family Trust bought 25.20 lakh shares (0.75%) at Rs 575 per share. Promoter NG Family Trust bought 25.20 lakh shares (0.75%) at Rs 575 per share. Promoter BNG Family Trust bought 25.20 lakh shares (0.75%) at Rs 575 per share. Promoter Anamudi Real Estates LLP sold 66.33 lakh shares (1.97%) at Rs 575 per share. Promoter Godrej Seeds & Genetics sold 84.86 lakh shares (2.52%) at Rs 575 per share.

• Reliance Capital: HDFC sold 26.96 lakh shares (1.07%) at Rs 26.38 per share.

• Rushil Decor: Promoter Ghanshyambhai Thakkar sold 6.99 lakh shares (3.51%) at Rs 250 per share. Family Fund sold 98,971 shares (0.50%) at Rs 250 per share.

• Wendt (India): SBI Mutual Fund bought 69,932 shares (3.50%) at Rs 3,850 per share. Plutus Wealth Management LLP sold 70,000 shares (3.50%) at Rs 3,850.01 per share.

Block Deals

• Godrej Properties: Promoter Godrej Industries bought 70.42 lakh shares (2.53%) at Rs 1,416 per share. Promoter HNG Family Trust sold 11.73 lakh shares (0.42%) at Rs 1,416 per share. Promoter TAD Family Trust sold 11.73 lakh shares (0.42%) at Rs 1,416 per share. Promoter PG Family Trust sold 11.73 lakh shares (0.42%) at Rs 1,416 per share. Promoter SNG Family Trust sold 11.73 lakh shares (0.42%) at Rs 1,416 per share. Promoter BNG Family Trust sold 11.73 lakh shares (0.42%) at Rs 1,416 per share. Promoter NG Family Trust sold 11.73 lakh shares (0.42%) at Rs 1,416 per share.

Insider Trades

• Adani Green Energy: Promoter Infinite Trade and Investment bought 17 lakh shares on June 28.

• Adani Ports and SEZ: Promoter Worldwide Emerging Market Holding bought 10 lakh shares on June 28.

• GHCL: Promoter Ram Krishna Dalmia Foundation sold 75,000 shares between June 28-29.

• JK Cement: Promoter Ramapati Singhania sold 2,000 shares on June 28.

• Kabra Extrusiontechnik: Promoter Kolsite Industries bought 26,000 shares on June 23.

• NCL Industries: Promoters (K Ravi, Divya P, K Anuradha, Bimal Goradia, Meera Goradia and Utkal Goradia) bought 1.08 lakh shares on June 28. Promoter NCL Holdings sold 1.80 lakh shares on June 28.

• Page Industries: Promoters (Sunder Genomal, Ramesh Genomal and Nari Genomal) sold 9,982 shares between June 24-28.

• Ultramarine & Pigments: Promoters (Sridhar Sundararajan and Jayalakshmi Venkataraman) sold 15,013 shares on June 28.

Who’s Meeting Whom

• Tata Consumer Products: To meet JPMorgan India and M&G Investments on June 30.

• Craftsman Automation: To meet Motilal Oswal Mutual Fund on June 30.

• Punjab Chemicals and Crop Protection: To meet UTI MF on June 30.

Trading Tweaks

• Ex-Date Final Dividend: HDFC Life Insurance Company, Vaibhav Global

• Ex-Date AGM: Bank of Baroda

• Record Date Dividend: HDFC Bank

• Price Band Revised From 20% To 10%: The Andhra Sugars, Nelco

• Move Into ASM Framework: Orchid Pharma, VLS Finance, Ador Welding, Brightcom Group, Kopran, Shivalik Bimetal Controls, RattanIndia Power, Shree Renuka Sugars

• Move Out Of Short-Term ASM Framework: Ruchi Soya Industries, Thomas Cook (India), Brightcom Group, Ador Welding

Money Market Update

India’s rupee and sovereign bonds may be pressured amid a rise in crude prices, which will weigh on inflation and finances of the net oil-importing nation. Traders will also await the current-account deficit data for the March-quarter which is expected to sharply widen. The rupee is headed for its worst month since March last year.

• USD/INR up 0.1% to 74.2312 on Tuesday; pair is up 2.2% this month, headed for the biggest gain since March 2020

  • Implied opening from forwards suggest spot may start trading around 74.30

• 10-year yields fell 2bps to 6.04% on Tuesday; 5.63% 2026 bond yield drops 5bps to 5.68%

F&O Cues

• Nifty July futures ended at 15,795; a premium of 46.55 points.

• Nifty July futures shed 0.49% and 933 shares in Open Interest

• Nifty Bank July futures ended at 35,204.45; a premium of 194.15 points

• Nifty Bank July futures added 2.54% and 2,019 shares in Open Interest Securities that continue to be on the ban list: Nalco