All You Need To Know Going Into Trade On June 8
The reflection of a trader working is seen on a monitor. (Photographer: Jin Lee/Bloomberg) 

All You Need To Know Going Into Trade On June 8

Asian stocks were steady early Tuesday as investors await more clues on the outlook for inflation and central bank stimulus amid the recovery from the pandemic.

Stocks edged up in Japan and Australia but fell in South Korea. The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, rose 0.16% to 15,804 as of 7 a.m.

U.S. futures rose and Nasdaq 100 contracts outperformed, weathering an international plan to ensure big firms such as Inc. pay a minimum level of tax.

Ten-year U.S. Treasury yields were stable. Traders are awaiting the U.S. inflation report to gauge price pressures amid expectations the Federal Reserve in the weeks ahead will begin talking about tapering asset purchases.

Elsewhere, oil held a decline, losing some momentum after hitting $70 a barrel in New York for the first time in over two years.

Also read: Modi’s Vaccine Policy Comes Half Undone – And That’s A Good Thing

All You Need To Know Going Into Trade On June 8

Earnings Post Market Hours

Union Bank of India Q4FY21 (Standalone, QoQ)

  • NII down 18% at Rs 5,402.86 crore Vs Rs 6,589.55 crore
  • Net profit up 83% Rs 1,329.77 crore Vs Rs 726.84 crore
  • GNPA at 13.74% Vs 13.49%
  • NNPA at 4.62% Vs 3.27%
  • Provisions down 26% at Rs 3,904.28 crore Vs Rs 5,255.89 crore
  • Loan loss provision at Rs 4,711.51 crore Vs Rs 3,036.10 crore

Also read: SEBI Orders Franklin Templeton AMC To Refund Over Rs 500 Crore, Bars New Debt Schemes For Two Years

Stocks To Watch

  • SBI: Invests in digital payments firm Cashfree.
  • InterGlobe Aviation: Expect domestic travels to reach February levels by year end, said CEO Ronojoy Dutta. International travel recovery pushed to fourth quarter of FY22. Net cash burn up to Rs 19 crore per day in Q4 compared to Rs 15 crore per day in Q3.
  • Bharat Petroleum: Shuts crude unit at Kochi; Oil-processing dips to 76%-78%
  • Bank of India: RBI imposed a penalty of Rs 4 crore for non-compliance with KYC/Anti Money Laundering circular. Penalty pertaining to breach of transaction limits, delay in reporting of fraud in 2019.
  • Punjab National Bank: RBI imposed a penalty of Rs 2 crore for non-compliance with fraud guidelines. Penalty pertaining to delay in fraud reporting, not ensuring data accuracy and integrity in reporting to CRILC.
  • Jindal Steel & Power: Steel production up 31% to 13.71 lakh tonnes in April-May 2021 as compared to 10.44 lakh tonnes in the same period last year. Confident of achieving FY22 production target of 8-8.5 MT. Steel sales up by 7% year-on-year to 10.58 lakh tonnes.
  • Indiabulls Housing Finance and Indiabulls Commercial Credit Ltd have entered into a strategic co-lending partnership with Central Bank of India to offer secured retail and MSME loans at competitive rates. IBH and ICCL will originate loans as per credit policy jointly drawn up with Central Bank of India. IBH/ICCL will retain 20% of the loan on their books while 80% will be on Central Bank of India’s books. IBH/ICCL will service the loan account throughout the life cycle of the loan.
  • Infosys: Announced a collaboration with Archrock, Inc. to integrate digital technologies and mobile tools for its field service technicians. Infosys will leverage its pre-configured accelerator for Microsoft Dynamics 365 Field Service Application to streamline and enhance the efficiencies of Archrock’s field services and operations.
  • Hindustan Construction Company: Defaulted on payment of loan of Rs 2,030.64 crore from banks, financial institutions, and unlisted debt securities. The total amount of loan outstanding as on date stands at Rs 4,147.84 crore.
  • Surya Roshni: Received order of Rs 170.52 crore for supply of coated line pipes to lndradhanush Gas Grid Ltd for North-East Gas Grid Pipeline Project.
  • Shriram Transport Finance Company: Approved raising of funds by issuance of equity shares and warrants to Shriram Capital, promoter of the company, on a preferential basis. To issue 17,36,100 shares and warrants separately at Rs 1,440 per share/warrant.
  • Dhampur Sugar Mills: Approved demerger of Asmoli, Mansurpur and Meerganj units to the resulting company (a wholly-owned subsidiary of the company). The turnover of the demerged divisions for the FY21 was Rs 2,034.13 crore representing 48% of the total turnover of the demerged company for the said financial year.
  • Earnings: Bajaj Hindusthan, Suven Pharmaceuticals, Max Financial Services, Petronet LNG, Prestige Estates Projects, Engineers India, Galaxy Surfactants, Hester Biosciences, Ion Exchange (India), PTC India Financial Services, Titagarh Wagons, Wonderla Holidays

Also read: Retail Tractor Sales Signal Collapse In Rural Demand In May


  • Shyam Metalics and Energy IPO to open June 14, close June 16
  • Ami Organics seeks SEBI approval for IPO, to raise Rs 300 crore via new shares

Pledge Share Details

  • Asian Paints: Promoter Smiti Holding and Trading Company revoked pledge of 10 lakh shares on June 1.
  • Ajanta Pharma: Promoter Ravi Agrawal created a pledge of 1.20 lakh shares on June 4.
  • Asian Granito India: Promoter Bhagubhai Patel HUF revoked pledge of 2.25 lakh shares between June 3-4.
  • Edelweiss Financial Services: Promoters (Vidya Shah and Venkatchalam Ramaswamy) revoked pledge of 1.66 crore shares on June 2.
  • JSW Energy: Promoter Siddheshwari Tradex revoked pledge of 1.76 crore shares between June 3-4.
  • Max Financial Services: Promoter Max Ventures Investment Holdings created a pledge of 2.25 lakh shares on June 3.

As reported on June 7.

Insider Trades

  • Asian Granito India: Promoters (Mukeshbhai Patel HUF, Sureshbhai Patel, Bhanuben Patel, Jivabhai Patel HUF) sold 6.69 lakh shares between June 3-4.
  • TVS Motor Company: Promoter Sundaram-Clayton sold 2.44 crore shares on June 7.
  • Vardhman Textiles: Promoter Vardhman Holdings bought 5,000 shares on June 4.
  • Vardhman Special Steels: Promoter Sachit Jain bought 6,000 shares between June 3-4.

Who’s Meeting Whom

  • Mahindra Logistics: To meet Burman Family Holdings on June 8.
  • Punjab Chemicals and Crop Protection: To meet Dolat Capital on June 8.

Trading Tweaks

  • Record Date Bonus Issue: Jay Bharat Maruti
  • Move Into Short-Term ASM Framework: IndoStar Capital Finance, Spandana Sphoorty Financial, Ador Welding, Suzlon Energy, Religare Enterprises, Ruchi Soya Industries, Thomas Cook (India)
  • Move Out Of Short-Term ASM Framework: Wockhardt, Gokul Agro Resources
  • Move Into ASM Framework: Themis Medicare, Dhunseri Ventures, Angel Broking, Reliance Infrastructure, Thangamayil Jewellery, Confidence Petroleum India, Wockhardt, Morepen Laboratories, Gufic Biosciences, Transport Corporation of India, Pokarna, OnMobile Global, Graphite India, Gokul Agro Resources, Apcotex Industries, Kirloskar Brothers, Orissa Minerals Development Company

Money Market Update

  • The rupee ended at 72.80 against the U.S. Dollar on Monday as compared to Friday's closing of 73.

F&O Cues

  • Nifty June futures ended at 15,781.65; a premium of 30 points.
  • Nifty June futures added 2.22% and 3,113 shares in Open Interest
  • Nifty Bank June futures ended at 35,598.05; premium of 154.4 points
  • Nifty Bank June futures shed 3.06% and 2,217 shares in Open Interest
  • Securities that continue to be on the ban list: Indiabulls Housing Finance, PNB, SAIL and Sun TV
All You Need To Know Going Into Trade On June 8

Also read: E-Filings 2.0: Income Tax Portal Fails To Go Live On Debut Day

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