All You Need To Know Going Into Trade On June 4
Asian stocks fell early Friday after U.S. equities sagged amid robust economic data that stoked concerns about a pullback in central bank stimulus.
Shares edged back in Japan, South Korea and Australia. The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, fell 0.10% to 15,679.50 as of 7 a.m.
S&P 500 and Nasdaq 100 futures retreated after the gauges fell overnight, though they came off lows on signs President Joe Biden may be willing to compromise on corporate taxes. Strong U.S. jobs data and record service-sector growth underscored the recovery from the pandemic.
Gold remained lower after coming under pressure, while the rally in crude oil has stalled. Meme stocks including AMC Entertainment Holdings Inc. had another volatile session.
Traders will be monitoring the China open after Biden signed an order amending a ban on U.S. investment in Chinese companies.
RBI Policy Heads Up
- India’s rate-setting panel headed by RBI Governor Shaktikanta Das may leave the benchmark repurchase rate unchanged at 4%, according to 43 economists out of 44 in a Bloomberg survey. One projects a 25bps cut [Read more here]
Data To Watch
- 5pm: India RBI Consumer Confidence Survey
Earnings Post Market Hours
Gujarat State Petronet Q4FY21 (Consolidated, QoQ)
- Revenue up 15% at Rs 3,828.65 crore Vs Rs 3,339.66 crore
- Net profit down 11% at Rs 577.50 crore Vs Rs 650.26 crore
- Ebitda down 12% at Rs 901.83 crore Vs Rs 1,019.31 crore
- Ebitda margin at 23.9% Vs 31.1%
- Recommended a dividend of Rs 2 per share
Quess Corp Q4FY21 (Consolidated, QoQ)
- Revenue up 7% at Rs 3,004.50 crore Vs Rs 2807.80 crore
- Net loss of Rs 63.30 crore Vs Net profit of Rs 41.70 crore
- Ebitda down 75% at Rs 37.80 crore Vs Rs 150.7 crore
- Ebitda margin at 1.3% Vs 5.4%
- Approved merger of Greenpiece Landscapes India and MFX lnfotech with Quess Corp
Nilkamal Q4FY21 (Consolidated, QoQ)
- Revenue up 9% at Rs 679.92 crore Vs Rs 626.59 crore
- Net profit down 30% at Rs 38.17 crore Vs Rs 54.34 crore
- Ebitda down 19% at Rs 78.87 crore Vs Rs 97.15 crore
- Ebitda margin 11.6% Vs 15.5%
- Recommended a final dividend of Rs 10 per share
Nucleus Software Q4FY21 (Consolidated, QoQ)
- Revenue flat at Rs 124.18 crore Vs Rs 124.01 crore
- Net profit up 10% at Rs 27.35 crore Vs Rs 24.82 crore
- Ebitda up 20% at Rs 31.77 crore Vs Rs 26.53 crore
- Ebitda margin at 25.6% Vs 21.4%
- Declared a final dividend of Rs 6 per share
Stocks To Watch
- Mahindra & Mahindra: Ministry of Defence signed a contract with Mahindra Telephonics Integrated Systems for procurement of 11 Airport Surveillance Radars with Monopulse Secondary Surveillance Radar for Indian Navy and Indian Coast Guard. The procurement will be made under the ‘Buy & Make’ category and will cost MoD Rs 323.47 crore.
- Arvind Fashions: Says no deviation in the use of 2021 rights issue’s proceeds
- Lupin: Launched the authorised generic version of Brovana (arformoterol tartrate) Inhalation Solution 15 mcgꝉ/2 mL in the U.S.
- ABB Power Products and Systems India: Resumed operations at the manufacturing facility in Peenya, Karnataka on May 28.
- Earnings: Bharat Forge, MOIL, Bank of India, NIIT, Jubilant Pharmova, Paisalo Digital, PNB, Valiant Organics, Varroc Engineering
Pledge Share Details
- Emami: Promoters (Sneha Enclave and Sneha Gardens) revoked pledge of 23 lakh shares on June 1.
- Max Financial Services: Promoter Max Ventures Investment Holdings revoked pledge of 6.34 lakh shares between May 31 and June 1.
As reported on June 3.
- Power Mech Projects: HDFC Mutual Fund bought 1.30 lakh shares (0.88%) at Rs 633 per share.
- Shakti Pumps (India): ML Securities and Finance sold 1.11 lakh shares (0.61%) at Rs 793.43 per share.
- Shilpa Medicare: Tano Mauritius India Fvci II sold 30 lakh shares (3.68%) at Rs 511.08 per share. India Opportunities Growth Fund - Pinewood Strategy bought 8.70 lakh shares (1.07%) at Rs 511 per share.
- Apollo Tyres: Promoter PTL Enterprises bought 1.10 lakh shares between May 31 and June 1.
- Eris Lifesciences: Promoter Himanshu Shah sold 17,467 shares between May 31 and June 1.
- Godrej Agrovet: Promoter Godrej Industries bought 18,322 shares on May 31.
- Ultramarine & Pigments: Promoters (Sridhar Sundararajan HUF, Kala Sundarvedha and S Narayan) sold 5,505 shares between June1-2.
- V-Guard Industries: Promoter’s immediate relative Priya Joseph sold 7 lakh shares on June 1.
- Vardhman Special Steels: Promoter Sachit Jain bought 5,108 shares between June 1-2.
Who’s Meeting Whom
- Accelya Solutions India: To meet Helios on June 4.
- Gati: To meet New Mark Capital and Tata MF on June 4.
- KEI Industries: To meet Batlivala & Karani Securities India on June 7, Edelweiss Securities on June 14, Jefferies India on June 17 and Phillip Capital (India) on June 18.
- Ex-Date Interim Dividend: City Union Bank, Manappuram Finance
- Record Date Dividend: State Bank of India
- Move Out Of Short-Term ASM Framework: Hester Biosciences, Anjani Portland Cement, HT Media, Ruchi Soya Industries, Thangamayil Jewellery, AVT Natural Products, Navneet Education, TV Today Network, PNB Housing Finance
- Move Into ASM Framework: PNB Housing Finance, JSW Holdings, Shakti Pumps (India)
Money Market Update
- The rupee ended at 72.90 against the U.S. Dollar on Thursday as compared to Wednesday's closing of 73.08.
- Nifty June futures ended at 15,715; a premium of 24.65 points.
- Nifty June futures added 4% and 5,364 shares in Open Interest
- Nifty Bank June futures ended at 35,775; premium of 126 points
- Nifty Bank June futures shed 0.57% and 391 shares in Open Interest
- Securities added to ban list: PNB
- Securities that continue to be on the ban list: Bank of Baroda, Sun TV and SAIL