All You Need To Know Going Into Trade On June 17

Asian stocks opened lower and U.S. futures extended losses Thursday after Federal Reserve officials sped up their expected pace of policy tightening.

Shares fell in Japan, Australia and South Korea. S&P 500 futures slipped after the benchmark closed down, but off its lows after Fed Chair Jerome Powell downplayed the risk of an immediate rate increase. Policy makers disclosed that they expect two hikes by the end of 2023 and would begin a discussion about scaling back bond purchases.

The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, fell 0.69% at 15,666.50 as of 6:50 a.m.

Earlier, the 10-year Treasury yields jumped eight basis points, while five- and seven-year equivalents rose more as the market repriced the timing of rate increases. Emerging market currencies in Asia tumbled, led by the South Korean won, after a dollar index had its biggest jump in a year.

Crude oil declined as the strengthening dollar reduced the appeal of commodities priced in the currency. Gold rose 0.4% to $1,818.55 after tumbling 2.6%.

Earnings Post Markets Hours

CESC Q4FY21 (Consolidated, QoQ)

• Revenue up 4% at Rs 2,890 crore Vs Rs 2,784 crore

• Net profit up 29% at Rs 423 crore Vs Rs 328 crore

• Ebitda at Rs 840 crore Vs Rs 838 crore

• Ebitda margin at 29.1% Vs 30.1%

• Approved a proposal for sub-division of existing one share of Rs 10 each to be sub-divided into 10 shares of Re 1 each

Welspun Enterprises Q4FY21 (Consolidated, QoQ)

• Revenue up 34% at Rs 568.82 crore Vs Rs 423.27 crore

• Net profit up 6% at Rs 40.94 crore Vs Rs 38.76 crore

• Ebitda up 54% at Rs 69.97 crore Vs Rs 45.32 crore

• Ebitda margin at 12.3% Vs 10.7%

• Approved dividend of Rs 1.5 per share

Somany Ceramics Q4FY21 (Consolidated, QoQ)

• Revenue up 15% at Rs 564.64 crore Vs Rs 492.49 crore

• Net profit up 10% at Rs 30.97 crore Vs Rs 28.22 crore

• Ebitda up 42% at Rs 89.63 crore Vs Rs 63.31 crore

• Ebitda margin at 15.9% Vs 12.9%

• Approved issuance of NCDs/bonds/other similar instruments of up to Rs 50 crore

Stocks To Watch

• SBI: Board to meet on June 21 to consider fund raising plan for FY22. SBI looks to raise additional tier-1 capital through issuance of Basel III compliant debt securities. Funds to be raised through public offer or private placement

• Wipro: Partnered with Exaware to develop advanced engineering solutions that foster innovation in the networking industry, streamline 5G technology upgrades, and open the door to future 6G compatibility.

• ISGEC Heavy Engineering: Received an order for the fabrication of above ground piping spools from Tata Projects. The company will manufacture more than 115,000 inch-dia shop fabricated piping spools of high-end metallurgies for a major project in the Hydrocarbon sector.

• Federal Bank: Approved issuance of up to 10.48 crore equity shares to International Finance Corporation, IFC Financial Institutions Growth Fund and IFC Emerging Asia Fund at Rs 87.39 per share aggregating to Rs 916 crore. Further the bank will raise up to Rs 4,000 crore via Rights Issue, QIP, FPO, FCCB, ADR, Global Depository Receipts etc. The bank will also raise up to Rs 8000 crore via issue of debt instruments in domestic and/or overseas market.

• Bharat Heavy Electricals Ltd: Created additional merit-based provisions of Rs 1,800 crore for FY21 after receivables review. The provisioning has been done in case of projects where the collections may have been doubtful. The company took a call to conservatively provide for receivables.

• Punjab & Sind Bank: Lanco Infratech’s account with outstanding dues of Rs 215.17 crore has been declared as fraud and reported to RBI.

• IDFC First Bank: Approved re-appointment of V Vaidyanathan as the MD & CEO for a further period of three years, with effect from December 19, 2021 up to December 18, 2024.

• Shriram City Union Finance: Approved issuance of 1000 secured NCDs of Rs 10 lakh each aggregating to Rs 100 crore on private placement basis.

• Ashiana Housing: Acquired land admeasuring 22.1 acres in sector- 93 in Gurgaon, Haryana. The company will construct a group housing project on the land with potential saleable area of 21 lakh sq ft.

• RITES: Appointed Bibhu Nayak, Director Finance as the Chief Financial Officer with effect from July 1. Nayak to replace Parmod Narang who is superannuating on June 30.

• Nifty Earnings: Power Grid Corporation of India

• Non-Nifty Earnings: Natco Pharma, Tube Investments of India, Indostar Capital Finance, DB Corp, Jammu & Kashmir Bank, HealthCare Global Enterprises, Hindustan Media Ventures, IFB Agro Industries, Kingfa Science & Technology (India), Nava Bharat Ventures, Novartis India, Power Mech Projects

IPO Watch

• Dodla Dairy IPO gets 140% demand on first day sale, offer closes June 18

• Krishna Institute of Medical Sciences IPO gets 27% demand on first day sale, offer closes June 18

• Shyam Metalics IPO gets 121.4 times demand for shares offered

• Blackstone-Owned Sona BLW IPO gets 2.3 times shares demand on sale

Pledge Share Details

• Ajanta Pharma: Promoter Ravi Agrawal created a pledge of 1.50 lakh shares on June 15.

• JSW Energy: Promoters (Indusglobe Multiventures and JSW Investments) created a pledge of 1.78 crore shares on June 12.

• Star Cement: Promoter Vinay Chamaria HUF created a pledge of 1 lakh shares on June 15.

• Max Financial Services: Promoter Max Ventures Investment Holdings revoked pledge of 63,000 shares on June 14.

  As reported on June 16.

Bulk Deals

• Globus Spirits: Templeton Strategic Emerging Markets Fund sold 5.63 lakh shares (1.97%) at Rs 441.7 per share.

• Suprajit Engineering: Unifi Capital bought 15.69 lakh shares (1.12%) at Rs 280 per share and bought another 30.82 lakh shares (2.20%) at Rs 283.18 per share. Sundaram Clayton sold 56.62 lakh shares (4.05%) at Rs 280 per share. TVS Motor Company sold 28.09 lakh shares (2.01%) at Rs 280.73 per share.

Insider Trades

• Adani Green Energy: Promoter Infinite Trade and Investment bought 15 lakh shares on June 15.

• Advanced Enzyme Technologies: Promoter Advanced Vital Enzymes sold 88,579 shares between June 11-15.

• Asian Granito India: Promoter Kamleshkumar Patel sold 1.50 lakh shares on June 15.

• Aurobindo Pharma: Promoter Kambam Spoorthi sold 6 lakh shares on June 14.

• APL Apollo Tubes: Promoter Veera Gupta sold 1.35 lakh shares between June 10-14.

• Cantabil Retail India: Promoters (Deepak Bansal, Sushila Bansal and Vijay Bansal) bought 39,425 shares between June 14-15.

• Godrej Agrovet: Promoter Godrej Industries bought 1.08 lakh shares between June 9-11.

• Lincoln Pharmaceuticals: Promoter Munjal Patel bought 50,000 shares on June 16.

• Newgen Software Technologies: Promoter Diwakar Nigam sold 12,342 shares on June 15.

• Persistent Systems: Promoter Sulabha Deshpande sold 4,418 shares on June 15.

• Page Industries: Promoters (Sunder Genomal, Ramesh Genomal and Nari Genomal) sold 6,380 shares between June 11-15.

• Panama Petrochem: Promoter Panama Builders Developers bought 5,388 shares on June 14.

• Strides Pharma Science: Promoter Triumph Venture Holdings LLP sold 35,937 shares on June 15.

• Vardhman Special Steels: Promoter Sachit Jain bought 3,000 shares on June 14.

Who’s Meeting Whom

• Axis Bank: To meet ICICI Securities on June 18.

• Eicher Motors: To meet Mahindra Manulife Investment Management on June 18.

Trading Tweaks

• Ex-Date Dividend: Tata Power Company

• Ex-Date Final Dividend: Tata Elxsi, Tata Steel, Tata Communications, Raghav Productivity Enhancers, Havells India, Kansai Nerolac Paints, Torrent Pharmaceuticals, Thyrocare Technologies

• Price Band Revised From 10% To 5%: Gateway Distriparks, Hinduja Global Solutions

• Price Band Revised From 20% To 10%: Jai Corp

• Move Into Short-Term ASM Framework: Action Construction Equipment, Future Lifestyle Fashions, Marksans Pharma, Arshiya

• Move Out Of Short-Term ASM Framework: Heritage Foods

• Move Into ASM Framework: Sarda Energy & Minerals

Money Market Update

• The rupee ended flat at 73.30 against the U.S. Dollar on Wednesday.

F&O Cues

• Nifty June futures ended at 15,776.85; a premium of 9.3 points.

• Nifty June futures shed 11.12% and 17,902 shares in Open Interest

• Nifty Bank June futures ended at 35,098.60; premium of 95.1 points

• Nifty Bank June futures added 0.76% and 454 shares in Open Interest

• Securities added to ban list: BHEL

• Securities that continue to be on the ban list: Adani Ports & SEZ, Escorts, Canara Bank, Nalco and PNB

• Securities removed from ban list: Sun TV