Asian stocks opened on a mixed footing Friday after U.S. technology shares rallied and Treasuries advanced, with investors unwinding some of this year’s dominant reflation trades.
Equities opened in the green in South Korea and Australia, while Japanese shares slipped. The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, rose 0.42% at 15,758 as of 7:15 a.m.
U.S. futures were little changed after a fresh bout of rotation from cyclical stocks pushed the tech-heavy Nasdaq gauge to another record. The benchmark S&P 500 ended the U.S. session flat.
Treasury yields steadied from a tumble amid speculation investors were unwinding bets on a steeper curve, after Federal Reserve officials signaled monetary-policy tightening could start sooner than previously thought, helping to rein in the risk that inflation might get out of hand.
The Bloomberg Dollar Spot Index steadied after a fifth day of gains, the longest winning streak since March 2020. Its advance makes commodities that are priced in greenback more expensive, driving declines across the complex. Copper is headed for its worst week since the start of the pandemic and oil fluctuated Friday.
Earnings Post Market Hours
Power Grid Corporation of India Q4FY21 (Consolidated, QoQ)
Revenue up 4% at Rs 10,510.23 crore Vs Rs 10,142.48 crore
Net profit up 5% at Rs 3,526.23 crore Vs Rs 3,367.71 crore
Ebitda up 4% at Rs 9,295.54 crore Vs Rs 8,914.54 crore
Ebitda margin at 88.4% Vs 87.9%
Recommended a final dividend of Rs 3 per share
To issue bonus shares in 1:3 ratio i.e. to give one new equity bonus share of Rs 10 each for every three existing equity shares of Rs 10 each
Tube Investments of India Q4FY21 (Consolidated, QoQ)
Revenue up 61% at Rs 2,732.82 crore Vs Rs 1,699.99 crore
Net profit up 34% at Rs 143.84 crore Vs Rs 107.35 crore
Ebitda up 14% at Rs 263.44 crore Vs Rs 230.56 crore
Ebitda margin at 9.6% Vs 13.6%
Recommended a final dividend of Rs 1.50 per share
To raise Rs 200 crore by way of issue of privately placed secured NCDs
Jammu & Kashmir Bank Q4FY21 (Consolidated)
NII down 7% at Rs 917.51 crore Vs Rs 987.28 crore (YoY)
Net profit of Rs 316.74 crore Vs Net loss of Rs 293.82 crore (YoY)
GNPA at 9.67% Vs 8.71% (QoQ)
NNPA at 2.95% Vs 2.50% (QoQ)
Provisions at Rs 28.27 crore Vs Rs 457.61 crore (QoQ)
Natco Pharma Q4FY21 (Consolidated, QoQ)
Revenue down 7% at Rs 331.30 crore Vs Rs 355.20 crore
Net profit down 15% at Rs 53 crore Vs Rs 62.70 crore
Ebitda down 8% at Rs 76.20 crore Vs Rs 82.50 crore
Ebitda margin at 23% Vs 23.2%
Nava Bharat Ventures Q4FY21 (Consolidated, QoQ)
Revenue up 4% at Rs 688.66 crore Vs Rs 660.12 crore
Net profit down 1% at Rs 159.41 crore Vs Rs 161.78 crore
Ebitda down 5% at Rs 260.22 crore Vs Rs 272.99 crore
Ebitda margin at 37.8% Vs 41.4%
IFB Agro Industries Q4FY21 (Consolidated, QoQ)
Revenue up 12% at Rs 549.46 crore Vs Rs 490.02 crore
Net profit down 15% at Rs 14.45 crore Vs Rs 16.96 crore
Ebitda down 16% at Rs 17.06 crore Vs Rs 20.40 crore
Ebitda margin at 3.1% Vs 4.2%
Novartis India Q4FY21 (QoQ)
Revenue up 6% at Rs 99.20 crore Vs Rs 93.70 crore
Net profit of Rs 9.70 crore Vs Net loss of Rs 7.10 crore
Ebitda at Rs 15.20 crore Vs Ebitda loss of Rs 3 crore
Recommended final dividend of Rs 10 per share
Stocks To Watch
Coal India: Considering a price increase amid rising costs and increasing capital expenses, said Chairman Pramod Agrawal during an analyst call. The company has planned Rs 170 billion capex for fiscal year that started April versus about Rs 130 billion in the prior year. May cut its shipment target of 740 million tonnes and production goal of 670 MT set for FY22. Net staff count reducing 13,000-14,000 every year and it’s likely to fall at a faster rate in the coming years, Agrawal said.
SBI Cards and Payment Services: Shareholder CA Rover Holdings is offering up to 48 million shares at a price range of Rs 1,002 to Rs 1,041.30 in an accelerated bookbuild, according to terms seen by Bloomberg. The price range is at a discount of 1% to 4.7% to Thursday’s closing.
Adani Transmission: Incorporated a wholly-owned subsidiary called ATL HVDC for transmission, distribution and supply of power and other infrastructure services.
Gati: Approved allotment of 10.23 lakh equity shares on preferential basis at Rs 97.75 per share aggregating up to Rs 10 crore. The company also approved allotment of 71.61 lakh equity warrants at Rs 97.75 per warrant aggregating up to Rs 69.99 crore. The warrant holders will be able to apply for and be allotted one share of face value of Rs 2 each for each warrant within a period of 18 months from the date of allotment.
DCM Shriram: Completed liquidation of Shriram Bioseed (Thailand), a step-down subsidiary of the company.
NLC India: Allotted 10,000 Commercial Papers of face value of Rs 5 lakh each aggregating to Rs 500 crore on June 17.
lndoStar Capital Finance: To issue NCDs worth Rs 5,000 crore on private placement basis in FY22.
Datamatics Global Services: To complete the acquisition of 49.50% stake in Cybercom Datamatics Information Solutions by September 30.
Earnings: Insecticides (India), Gujarat Fluorochemicals, Balaji Telefilms, Dhani Services, Hinduja Global Solutions, HT Media, Kokuyo Camlin, Oriental Carbon & Chemicals, PSP Projects, Shree Renuka Sugars, Timken India, Welspun Specialty Solutions
Offerings
Dodla Dairy IPO gets 330% demand on second day sale, offer closes June 18
Krishna Institute of Medical Sciences IPO gets 56% demand on second day sale, offer closes June 18
India Pesticides IPO to open on June 23, close June 25
Pledge Share Details
Chambal Fertilisers & Chemicals: Promoter Zuari Global created a pledge of 3.60 lakh shares on June 15.
JSW Steel: Promoter Sahyog Holdings created a pledge of 1.07 crore shares on June 12.
Max Financial Services: Promoter Max Ventures Investment Holdings created a pledge of 22.70 lakh shares on June 16.
As reported on June 17.
Bulk Deals
Advanced Enzyme Technologies: Promoter Advanced Vital Enzymes sold 17 lakh shares (1.52%) at Rs 400.43 per share and sold another 14 lakh shares (1.25%) at Rs 400.17 per share. Plutus Wealth Management LLP bought 11 lakh shares (0.98%) at Rs 400.06 per share.
Bengal & Assam Company: Promoter Hari Shankar Singhania Holdings sold 72,600 shares (0.64%) at Rs 1,655.01 per share.
Globus Spirits: Old Bridge Capital Management bought 7.25 lakh shares (2.5%) at Rs 495.02 per share. Templeton Strategic Emerging Markets Fund sold 8.93 lakh shares (3.10%) at Rs 490.16 per share.
Greenlam Industries: Promoter Greenply Leasing & Finance bought 1.30 lakh shares (0.54%) at Rs 1,165 per share. Promoter Saurabh Mittal sold 1.30 lakh shares (0.54%) at Rs 1,165 per share.
Max Financial Services: Government of Singapore bought 60.13 lakh shares (1.74%) at Rs 1000 per share. Promoter Max Ventures Investment Holdings sold 78.28 lakh shares (2.27%) at Rs 1000.08 per share.
Block Deals
HEG: Promoter Purvi Niyojan bought 1 lakh shares (0.26%) at Rs 2,180 per share. Promoter Riju Jhunjhunwala sold 1 lakh shares (0.26%) at Rs 2,180 per share.
Insider Trades
APL Apollo Tubes: Promoter Veera Gupta sold 15,000 shares on June 15.
Asian Granito India: Promoter Kamleshkumar Patel sold 1.50 lakh shares on June 16.
Apollo Tyres: Promoter PTL Enterprises bought 2.42 lakh shares between June 14-15.
Eris Lifesciences: Promoter Himanshu Shah sold 1.10 lakh shares between June 14-16.
Infibeam Avenues: Promoters (Tripwheels and Drive, Infinity Drive, Infinium Communication and O3 Developers) sold 1.08 crore shares between June 11-14.
LG Balakrishnan & Bros: Promoter V Rajvirdhan sold 3.76 lakh shares between June 15-16.
JK Cement: Promoter Ramapati Singhania sold 1,100 shares on June 15.
Kabra Extrusiontechnik: Promoter Kolsite Industries bought 6,000 shares on June 14.
Persistent Systems: Promoter Sulabha Deshpande sold 5,582 shares on June 16.
Plastiblends India: Promoter Jyoti Kabra bought 5,550 shares between June 11-15.
Solara Active Pharma Sciences: Promoter Triumph Venture Holdings LLP sold 5,989 shares on June 15.
Ultramarine & Pigments: Promoters (Sridhar Sundararajan HUF and Kala Sundarvedha) sold 24,656 shares between June 15-16.
Who’s Meeting Whom
CreditAccess Grameen: To meet Ashmore Investments on June 18.
Crompton Greaves Consumer Electricals: To meet TA Associates on June 18.
Craftsman Automation: To meet JM Financial on June 18.
HEG: To meet Matthews Asia on June 18.
Manappuram Finance: To meet Chanakya Capital on June 18.
Phillips Carbon Black: To meet Equirus Securities on June 18.
Voltas: To meet Capital Group on June 18.
Trading Tweaks
Ex-Date Final Dividend: Balkrishna Industries
Ex-Date EGM: Orchid Pharma
Record Date Final Dividend: Torrent Pharmaceuticals
Price Band Revised From 10% To 5%: Deepak Fertilizers And Petrochemicals Corporation, eClerx Services, Godawari Power & Ispat
Price Band Revised From 20% To 10%: Globus Spirits, Sagar Cements, Srei Infrastructure Finance
Move Into Short-Term ASM Framework: Nava Bharat Ventures, Rossell India, Precision Camshafts, Zuari Agro Chemicals, Insecticides (India), Jai Corp, Future Enterprises
Move Out Of Short-Term ASM Framework: Aptech, Astra Microwave Products, Dish TV India, Ebixcash World Money India, Reliance Communications
Move Into ASM Framework: Reliance Communications, VA Tech Wabag, Srei Infrastructure Finance, Sagar Cements
Money Market Update
The rupee ended at 74 against the U.S. Dollar on Thursday as compared to Wednesday's closing of 73.30.
F&O Cues
Nifty June futures ended at 15,680.95; discount of 10.45 points.
Nifty June futures shed 7.76% and 11,114 shares in Open Interest
Nifty Bank June futures ended at 34,590; discount of 15.4 points
Nifty Bank June futures shed 0.96% and 577 shares in Open Interest
Securities that continue to be on the ban list: Adani Ports & SEZ, BHEL, Escorts, Canara Bank and PNB
Securities removed from ban list: Nalco
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