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JUNE MUTUAL FUND DATA
Multi-cap funds: Inflow of Rs 209.5 crore vs inflow of Rs 1,954.2 crore in May
Large-cap funds: Inflow of Rs 547.3 crore vs inflow of Rs 937.4 crore in May
Mid-cap funds: Inflow of Rs 1,729.1 crore vs inflow of Rs 1,368.1 crore in May
Small-cap funds: Inflow of Rs 705.1 crore vs inflow of Rs 1,080 crore in May
Total net inflow of Rs 15,320.3 crore vs net outflow of Rs 38,601.9 crore in May
Average AUM: Rs 34.1 lakh crore in June vs Rs 32.99 lakh crore in May
Source: AMFI
Nifty Metal is the worst performing sectoral index today.
Nifty Metal shed 1.62% compared with the NSE Nifty 50 Index’s 0.72% decline as of 1:30 p.m.
Metal stocks which gained in the previous session pared most of the gains.
SAIL (-2.89%), Hindalco (-2.34%) , JSW Steel (-2.10) and Tata Steel (-1.61%) are among of the top losers.
Nifty Metal has shed 0.12% over the last week with shares of NMDC leading the losses (-8.4%) while National Aluminium gained 6.74%.
The decline in Nifty Metal comes amid strengthening U.S. dollar powered by reaffirmation of taper timeline by the U.S. Federal Reserve as exemplified in the minutes of the June policy meeting.
History Backs Buying 8% Dip in Jaguar Owner’s Stock
Shares of the healthcare firm gained as much as 10.8% to Rs 1009.80, a new all-time high level. The stock has risen for nine consecutive session and is up over 117% so far this year.
Bajaj Healthcare said in a regulatory filing that it has received a licence from Defence Research and Development Organisation (DRDO) to Manufacture and Market of ‘2-Deoxy-D-Glucose’ as approved medication for the treatment of COVID-19 patients.
Trading volume was more than quadruple the 20-day average for this time of day.
The shares are up 18 percent in the past 5 days and rose 25 percent in the past 30 days.
The relative strength index on the stock was above 70, indicating it may be overbought.
To read the full report, click here.
Alembic Pharmaceuticals Ltd. said it has received final US FDA approval for its antidepressant drug.
The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), Norpramin Tablets, 10 mg, 25 mg, 50 mg, 75 mg, 100 mg, and 150 mg, of Validus Pharmaceuticals LLC.
Desipramine Hydrochloride Tablets USP, 10 mg, 25 mg, 50 mg, 75 mg, 100 mg, and 150 mg have an estimated market size of $7 million for twelve months ending March 2021 according to IQVIA.
Sovereign bonds in India advance after a report quoted RBI Governor Shaktikanta Das as saying any hasty withdrawal from easy monetary policy may undo gains achieved after the pandemic.
Inflation is showing signs of stickiness, but that’s only a ‘transitory hump’ that should moderate in the third quarter of the financial year, Das told Business Standard newspaper in an interview
Yield on 5.63% 2026 bond drops 4bps to 5.76%; that on 6.64% 2035 note falls 3bps to 6.76%
Shares of KPR Mill gained as much as 9.9%, the most in two months, to a record high of Rs 1868.40.
The board will consider a proposal for a stock split at its meeting on July 27, the company said in its exchange filing yesterday.
Earlier this week, KPR Mill resumed operations in all its units in Tamil Nadu which were hit due to lockdown.
The stock has gained 16% in the past 5 days and rose 10% percent in the past 30 days. The relative strength index on the stock was above 70, indicating it may be overbought.
Analysts have four buy, no hold, and no sell recommendations on the stock. The price target of Rs 1,558.67 represents a 12.1% decrease from the last price, according to Bloomberg data.
To read the full report, click here.
Retail sales of passenger vehicles, which include cars and SUVs, rose to 184,134 units in June, compared with 128,360 units a year ago, Federation of Automobile Dealers Associations says in a statement.
June passenger vehicle retail sales were still 10.3% lower compared with June 2019, according to the group
NOTE: India last year in late March had imposed a nationwide lockdown to curb the spread of coronavirus, impacting sales of vehicles
Commercial vehicle retail sales in June at 35,700 units, compared with 10,619 units y/y and 65,035 units in June 2019
Motorcycle and scooter retail sales in June at 930,324, a rise of 16.9% y/y but 30.5% lower compared with June 2019
Total vehicle retail sales in June rise 22.6% y/y on a low base, but a 28.3% fall from June 2019 levels
“Overall, the Industry is still not out of the woods,” the dealers’ group says in the statement, adding that demand is expected to pick up in the near term
Indian bond traders will consider comments by Reserve Bank of India Governor Shaktikanta Das that hasty withdrawal from easy monetary policy can undo gains and inflation spike is a transitory hump in an interview with the Business Standard newspaper.
10-year yields fell by 1bp to 6.17% on Wednesday
Yield on 5.63% 2026 bond declined 4bps to 5.80%; 6.64% 2035 bond yield fell by 3bps to 6.79%
Traders await Rs 20,000 crore of bond purchases by the RBI as part of its government securities acquisition program
Plans to buy 8.24% 2027, 7.17% 2028, 7.59% 2029, 7.88% 2030, and 7.57% 2033 bonds
USD/INR advanced 0.1% to 74.6187 on Wednesday
Implied opening from forwards suggest spot may start trading around 74.86
Tata Consultancy, Asia’s biggest exporter of software services, is scheduled to report results for the June quarter after market hours today.
“The earnings season would provide some direction to the market and offer cues about the economic revival,” Siddhartha Khemka, head of retail research at Motilal Oswal Financial Services wrote in a note. “Consistent earnings delivery versus expectations are critical for further outperformance in our view.”
Q1 Preview: Deal Wins To Lift IT Firms’ Revenue, Pressure Looms On Margin
Online food delivery and restaurant discovery platform Zomato Ltd. plans to raise Rs 9,000 crore issuing new shares, while its investor Info Edge India will sell as much as Rs 375 crore of shares in an initial public offering, according to an advertisement in the Financial Express newspaper Thursday.
IPO opens July 14 and closes July 16; investors can bid for minimum 195 shares of face value of Re 1
IPO size has been raised to Rs 93,75 crore vs Rs 8,250 crore in DRHP
IPO includes 65 lakh shares reserved for employees
Kotak Mahindra Capital, Morgan Stanley India, Credit Suisse Securities, BofA Securities and Citigroup Global are managing the issue
NOTE: Zomato, an Indian food delivery startup backed by Jack Ma’s Ant Group Co., to use the proceeds to expand its business and for acquisitions.
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