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June 24, 2024

Quant MF response -
Dear Investors,
As a policy, we don’t comment on the media reports, however here is an important update to clarify some points to maintain transparency with all our stake holders .
Recently, quant Mutual Fund has received inquiries from SEBI, and we want to address any concerns you may have regarding this matter.
We want to assure you that quant Mutual Fund is a regulated entity, and we are always fully committed to cooperate with the regulator throughout any review. We will provide all necessary support and continue to furnish data to SEBI on a regular and as-needed basis.
quant mutual fund has emerged as one of the fastest growing in the country and best performing fund houses in most of schemes. Our primary goal remains unchanged: to deliver superior risk-adjusted returns to all our valued investors. Your confidence in quant Mutual Fund is of utmost importance to us, and we are dedicated to maintaining transparency and adherence to regulatory standards.
We appreciate the confidence, faith and strength of 80 lacs plus folios and 93,000 AUM and we believe that the same support will continue as quant’s research capabilities and analytical tools will keep our investors ahead in the curve and we remain committed to deliver superior risk-adjusted returns in the future too.
We wish to thank you once again for showcasing the continued trust in quant Mutual Fund.
Regards,
quant Mutual
Stocks in News post Market closure
Varna Industries Limited : The Company has received a Supply Order worth of Rs. 74.32 Crores from New Space India Limited. for Supply of Hierarchical Storage order(s)/contract(s) awarded in brief Management (HSM) systems and servers for Central Archival Facility (CAF) Solution on Turn -Key Basis.
BLUE CLOUD SOFTECH SOLUTIONS LIMITED : Blue Cloud Bags AI Transformation Project from Rachana Grammar High School.
Mangalam Industrial Finance Ltd : Board Approval for raising of funds.
Indian Renewable Energy Development Agency Limited : IREDA successfully raised Rs. 1500 crore through issuance of bonds.
Kedia Construction Company Limited : approved the Scheme of Arrangement and Amalgamation between Kirti Investments Limited and Kedia Construction Company Limited and their respective shareholders and creditors.
TVS MOTOR COMPANY LTD : TVS MOTOR COMPANY TO PARTNER WITH CSC GRAMEEN eSTORES FOR ITS COMMERCIAL VEHICLE RANGE.
JHS SVENDGAARD LABORATORIES LTD. : The company decided to expand its business operation in Union Territory, Jammu & Kashmir.
Zee Media Corporation Limited : Board meeting to be held on June 26, 2024, to consider raising of funds.
Prestige Estates Projects Limited : Board approved Raising of funds by way of issuance of equity shares or other eligible securities for an aggregate amount not exceeding Rs. 5,000 Crores by way of qualified institutional placement .
R.P.P Infra Projects Limited : 10,00,000 equity shares of RP.P Infra Projects Limited Pledged in the favor of Karur Vysya Bank (Pledgee) has been created. The aforesaid shares were pledged by the promoter of R.P.P Infra Projects Limited to the Karur Vysya Bank to secure loan facilities.
BANK OF BARODA : Board Meeting is scheduled to be held on 05th July 2024, to consider and approve raising of Long Term Bonds for financing of Infrastructure and affordable housing.
Cipla Limited : The USFDA has conducted an inspection at the Company’s manufacturing facility in Goa, India from 10th – 21st June 2024.On conclusion of the inspection, the Company received 6 (six) inspectional observations in Form 483.
Inox Green Energy Services Limited : Board meeting to be held on 26th June, 2024, to consider, evaluate and approve the proposal for raising of funds.
JSW Energy Limited : JSW Neo Energy Limited, a wholly-owned subsidiary of the Company, has received a letter of award for ISTS connected Wind-Solar Hybrid Power Project of 300 MW from Solar Energy Corporation of India Limited (SECI), against Tariff based Competitive Bid invited by SECI for setting up of 1,200 MW ISTS connected Wind-Solar Hybrid Power Projects.
Sky Gold Limited : Board approved the purchase of 100% equity shares of M/s Starmangalsutra Private Limited and M/s Sparkling Chains Private Limited .
Nova Agritech Limited : Board approved Investment in Nova Agri Sciences Private Limited (Wholly-owned Subsidiary) upto ₹ 35,28,65,000/- by way of subscription to 35,28,650 Unsecured Optionally Convertible Debentures of face value of ₹100/- each at par, in one or more tranches, based on the recommendation of the Audit Committee of the Company.
Garden Reach Shipbuilders & Engineers Limited : The Company has signed Contract for Construction and delivery of Multi-Purpose Vessels from M/s Carsten Rehder Schiffsmakler and Reederei GmbH & Co . for Construction and delivery of order awarded in brief four multi-purpose vessels of 7,500 DWT each. Order Size Approx. 54 million USD
LUPIN LIMITED : Receipt of Establishment Inspection Report from U.S. FDA for the Company’s manufacturing facility in Somerset, New Jersey, with a Voluntary Action Indicated status.
Avenue Supermarts Limited : The Company has opened a new store at Gopalapatnam, Visakhapatnam (Andhra Pradesh) . The total number of stores as on date stands at 370.
Panacea Biotec Ltd : The Company’s material subsidiary, Panacea Biotec Pharma Ltd. has incorporated its wholly-owned subsidiary company namely, Panacea Biotec Inc. in the state of Delaware, USA and has made an initial investment of US $ 75,000 (~Rs.6.23 million) in the shares of common stock of Panacea Biotec Inc.
Sudarshan Pharma Industries Limited : Declaration of successfully completion of first milestone in Development (R&D) & Manufacturing Sample of Vitamin B1 (THIAMINE HYDROCHLORIDE) finish API.
Rajoo Engineers Limited : Board meeting to be held on 28th June 2024 ,A proposal for declaration and recommendation of Bonus Equity Shares .
Maruti Infrastructure Limited : Board approved Recommended the proposal for subdivision /split of existing l equity Share of face value of Rs.l0 each fully paid up into 5 equity Shares of face value of Rs. 2/- each .& Recommended the Bonus Issue of Equity Shares in the proportion of 1 equity Share of Rs.2/- each for every 2 equity Shares of 'Rs. 2/- each held by shareholders of the company as on the record date.
GRM Overseas : The company raises Rs. 136.5 crore through convertible warrants
S.P. Apparels: The company completed the acquisition of Young Brand Apparel for Rs 167 crore.
HDFC Bank: SBI Mutual Fund raises stake in the company to over 5%
MCX: The company shortlisted names of candidates for the post of MD & CEO. The company will seek regulatory approvals for appointment.
LUPIN: CO RECEIVES EIR FROM U.S. FDA FOR ITS SOMERSET MANUFACTURING FACILITY, WITH A VOLUNTARY ACTION INDICATED STATUS
BIOCON: CO SAYS USFDA CONCLUDES INSPECTION WITH FOUR OBSERVATIONS AT API FACILITY IN VISAKHAPATNAM
INOX GREEN ENERGY SERVICES: CO BOARD MEET ON JUNE 26 TO CONSIDER FUNDRAISING PROPOSAL
GOVT OF INDIA APPROVES NEW TRANSMISSION SCHEMES WORTH RUPEES 13,595 CR TO EVACUATE 4.5 GW RE POWER EACH FROM RAJASTHAN AND KARNATAKA - GOVT SOURCE
GARDEN REACH SHIPBUILDERS: CO BAGS EXPORT ORDER FOR COMMERCIAL VESSELS WORTH 54M USD OR 405 CR RUPEES
NEWGEN SOFTWARE TECH: CO ANNOUNCES USD 1.48 MILLION AGREEMENT WITH US CLIENT
CarTrade Tech: Highdell Investement & Macritichie Investments are likely to sell 7% & 3.4% equity each in Car Trade tomorrow
Morgan Stanley forecasts 15.3% CAGR in Indian infrastructure investments over next five years
Apple, Meta have discussed AI partnerships
CanaraBank's X handle has been compromised, according to a statement by the bank.
Corporate Action
Here are key corporate actions taking place next week:
Global Economic Data
Furthermore, the PCE prices, consumer real spending in Q1-CY24, weekly jobs data, durable goods orders, personal income & spending in May from the US, scheduled next week, will also be observed by the market experts. In addition, they will also look for cues from economic & services sentiment data in Europe; retail sales, unemployment rate, construction orders numbers from Japan; and Q1 GDP growth figures from the United Kingdom.
Godrej Industries chairman Nadir Godrej has purchased 3 sea-facing flats for Rs 180 crore in #Mumbai
> US FDA Issues Six Inspectional Observations In Form 483 For Company's Goa Manufacturing Facility
> US FDA Inspected The Co's Goa Manufacturing Facility From June 10-21, 2024
CIPLA |
> Company Will Work Closely With US FDA & To Address These Comprehensively Within Stipulated Time
Biocon | U.S.FDA concludes GMP inspection of API facility at Visakhapatnam with four observations
EIH Ltd | Kallol Kundu resigns from the post of CFO with effect from September 26
Ministry of Power | Centre Government approves new transmission schemes worth Rs 13,595 crore
> The transmission lines to evacuate 4.5 GW RE power each from Rajasthan and Karnataka.
> These schemes will be implemented through Tariff Based Competitive Bidding mode
> These schemes are part of 500 GW RE capacity by 2030
> The scheme will will be be completed completed by by June 2027
Request to allocate special package of at least Rs 24,000 crore to tide over the current liquidity stress by scheduling it over a period of 2 years from 2024-25, says Kerala Finance Minister KN Balagopal in the pre-budget demands
Lupin receives the Establishment Inspection Report (#EIR) from the USFDA for its manufacturing facility in Somerset, New Jersey, with a Voluntary Action Indicated (#VAI). The facility was inspected from May 7 to 17, 2024
City Gas Distributions (CGDs) increase CNG prices by Rs 1-1.50 almost pan India effective today. #IGL raises #CNG price by Rs 1
> IGL raises CNG price by Rs 1, no increase in Gurgaon, Karnal
> Gujarat Gas also likely to increase CNG price
GST Council Meeting | Anti-profiteering cases to shift to GSTAT and sunset for filing date is April 1, 2025, says FM Nirmala Sitharaman.
> Anti-profiteering cases to shift to GSTAT and sunset for filing date is April 1, 2025
> A decision is taken to shift hearing of such cases from Competition Commission to GSTAT when it becomes functional
> Intent is to make GST assessees' life easier, working towards lesser compliances
> Notices are not being sent out left, right and centre
> Only 1.96% of all active tax assessees or 1.14 lakh assessees have been sent any notice from CGST
> Operationalisation of Aadhaar-based authentication will start now and be implemented in a phased manner, says FM Nirmala Sitharaman.
GST Council recommends exemption from Compensation Cess leviable on the imports in SEZ by SEZ Unit/developer for authorised operations from 1st July, 2017
Key takeaways from FM Nirmala Sitharaman address post the GST Council Meet
• GST council has decided to waving interest and penalties notices for FY18 to FY21
• Also recommended that the time limit to avail input tax credit for FY18 to FY21 may be deemed
• Time limit to file GSTR4 to be extended to June 30 from 30th April to help small tax payers
• Pre-deposit for filing appeals to be brought down
Highdell Investement & Macritichie Investments are likely to sell 7% & 3.4% equity each in Car Trade tomorrow
• Floor Price At ₹820/ Sh (4.3% Discount To CMP)
• Deal Size Of The Block Is ₹400 Cr, Upsize At ₹100 Cr
• There Will Be 75 Days Lock In Period For The Sellers
• Note - Highdell Investment Held 17.36% At End Of March Quarter, Macritchie Investments Held 16.3% At End Of March Quarter
SBI To Expand Network With 400 New Branches In Fiscal 2025, Says Chairman
"Somebody asked me if 89% of digital and 98% transactions were happening outside the branch, whether the branch is required anymore. My answer is yes. It is still required because there are newer areas which are emerging," SBI Chairman Dinesh Kumar Khara told PTI in an interview.
"We will be identifying locations where the opportunity exists, and in those locations, we plan to open branches. Almost 400 branches we plan to add this year," he said.
SBI has a network of 22,542 branches across the country as of March 2024.
"The subsidiaries which would be eligible for this kind of route will be essentially our SBI General and may be at some stage SBI Payment Services, but as of now, we don't have any such plan," he added. "Maybe, we would like to scale them up a little more, and then we will think in terms of going to the capital market for monetising our holding in these companies. But not in the current financial year," Khara said.
During the year ended March 2024, the bank infused additional capital of Rs 489.67 crore in SBI General Insurance Company Ltd. The company has also allotted ESOP to employees. Consequently, the bank's stake has decreased from 69.95% to 69.11%.
SBI General Insurance reported a 30.4% rise in net profit to Rs 240 crore for the financial year ended March 2024. The non-life subsidiary of State Bank of India had recorded a net profit of Rs 184 crore in the previous financial year.
SBI Payment Services Pvt Ltd, which is in the merchant acquiring business, is 74% owned by SBI, while the remaining stake is with Hitachi Payment Services.
SBI Payments is one of the largest acquirers in the country, with more than 33.10 lakh merchant payment acceptance touchpoints as of March 2024, including 13.67 lakh POS machines deployed across geographies.
The company's net profit declined to Rs 144.36 crore for the year ended March 2024 against Rs 159.34 crore in the previous year.
Fewer Project Launched In Q2 Leads To 13% Drop In New Home Supply
Fresh supply of housing units is estimated to decline 13% during this quarter across nine major cities with builders launching less number of projects because of the general election, according to real estate data analytic firm PropEquity.
PropEquity data shows that new housing supply in April-June is estimated to fall to 97,331 units across nine major cities as against 1,11,657 units in the year-ago period.
Pune and Hyderabad are witnessing fewer launches during this quarter while the new supply in Delhi-NCR has almost doubled.
Samir Jasuja, Chief Executive Officer & Managing Director of PropEquity, attributed the fall in new supply of housing units to the Lok Sabha election which took place in this quarter. The new supply is 7% lower from the January-March quarter of this calendar year, he added.
As per the city-wise data, new launches of residential properties in Delhi-NCR are likely to rise 95% to 11,118 units during April-June this year from 5,708 units a year ago.
> The new supply of housing in Bengaluru is likely to rise 21% to 14,297 units from 11,848 units.
> In Chennai, the launches are likely to rise 67% to 5,754 units from 3,634 units.
> However, the fresh supply in Hyderabad is estimated to fall 36% to 11,603 units from 18,232 units.
> In Kolkata, new supply is likely to fall 26% to 3,411 units from 4,617 units.
> Housing supply in Mumbai is estimated to dip 6% to 9,918 units from 10,502 units.
> Navi Mumbai is likely to witness a 5% decline in new supply of homes to 6,937 units from 7,272 units.
> New launches in Pune are seen falling 47% to 15,568 units from 29,261 units.
> In Thane too, the new supply of residential properties is estimated to fall 10% to 18,726 units in April-June from 20,781 units in the year-ago period.
PropEquity has estimated a marginal 2% dip in housing sales during April-June 2024 to 1,19,901 units from 1,21,856 units in the corresponding period of the preceding year.
PropEquity is a real estate data and analytics company. It tracks over 1,73,000 projects of about 57,500 developers across 44 cities in India on a real-time basis.
#Focus #Housing #Real_Estate
Garden Reach Shipbuilders bags order worth $54 million to build four multi-purpose vessels - CNBC TV18
Garden Reach Shipbuilders Share Price | The order is expected to completed within 33 months.
Dividend, Bonus, Split Alert: ₹70 from #TataElxsi, Aurionpro free shares to be credited this week
#CNBCTV18Market | Goldman Sachs initiates buy call on TBO Tek, says expect FCF to PAT ratio to stay higher than 100%. Operating leverage to drive a 30%/33% EBITDA/net income CAGR during FY24-30
‌Israel Prime Minister Benjamin Netanyahu says intense stage of fighting in Gaza will soon end and will focus on targeted operations against Hamas
‌#GardenReachShipbuilders has bagged an international contract worth around $54 million to construct & deliver four multi-purpose vessels of 7,500 DWT each, to Carsten Rehder Schiffsmakler and Reederel GmbH & Co, KG Germany, writes @ShlokaBadkar
#Biocon receives approval from the European Medicines Agency (EMA) to manufacture biosimilar Bevacizumab at drug substance facility in Bengaluru. Co also announces that EMA has renewed its Good Manufacturing Practice Certificates of Compliance for its biosimilars manufacturing facility at Bengaluru and its insulin facility in Malaysia following inspections.
#CNBCTV18Market | Morgan Stanley gives overweight call on #IGL, says amid global gas outages & decreasing APM gas allocation, co hiked CNG prices. As CNG remains attractive vs alternative fuels, hike should support margin normalisation
#CNBCTV18Market | Here's how global market cues are placed this morning
#CNBCTV18Market | MOSL gives buy call on #ICICIBank, says loan growth to remain robust, focusing on quality underwriting. Liability momentum healthy, superior tech to aid customer acquisition
#StocksToWatch | These stocks will be in focus going into trade today
#CNBCTV18Market | Morgan Stanley gives overweight call on Zomato, says Zepto raising funding round further raises relevance of quick commerce channel, however, there is probability of competitive intensity increasing in business in near-term
Changes in GST rates of Goods:
Here are the key highlights:
Aircraft Parts and Tools: 5% IGST on imports of parts, components, testing equipment, tools, and tool-kits of aircrafts.
Milk Cans: 12% GST on all steel, iron, and aluminium milk cans.
Carton Boxes: GST on cartons, boxes, and cases of paper reduced from 18% to 12%.
Solar Cookers: 12% GST on all solar cookers.
Poultry Machinery Parts: 12% GST on parts of poultry keeping machinery.
Sprinklers: 12% GST on all types of sprinklers, including fire water sprinklers.
Defence Imports: IGST exemption on specified defence items extended until 30th June, 2029.
RAMA Programme Imports: IGST exemption on research equipment/buoys under RAMA programme.
SEZ Imports: Compensation Cess exemption on imports by SEZ units/developers since 01.07.2017.
Beat The Street | Stock Market News
Midhani is associated with development of long range subsonic indigenously developed cruise missile by DRDO. All critical materials were developed in mission
mode. Keep on radar.
As India emerges as the largest market for Maggie Noodles & Kit-Kat, Shri Bajrang Alliance, a contract manufacturer for Nestle, will benefit big. Its stock at Rs. 260 offers potential yield of 50% in the short-term.
QMS Medical Allied Services markets medical products, offers education services & expands its outlets. Its trades at 16x FY25 earnings. Buy for 50% gains in 1 year.
Vodafone Idea prospects improve post-GoI stake acquisition. Recent Rs.18,000 cr. FPO will fund 4G/5G expansion and clear Rs.2,458 cr. vendor dues. Promising future as debt issues resolved & 5G rolls out. Buy.
Aartech Solonics manufacturer of electrical machinery with Mcap of Rs.238 cr., shows trunaround results and record orders. It announced 1:2 bonus with expanding facilities at Mandideep & Parwanoo. Add.
Venus Remedies bags an oncology tender from the WHO-backed PAN American Health Organization (PAHO). Buy for the long term.
SBI ; SBI plans to open 400 new branches across country in FY25: Chairman Khara. Note ; Bank Opened 137 Branches In FY24
ADANI ENERGY: The Adani Group plans to invest ₹25,000-27,500 crore (about $3 billion) to set up its first pumped- storage hydropower (PSH) facility - Mint Citing Sources
STOCKS IN ACTION 24 JUNE
Prestige Estates Projects: The board approved raising up to Rs 5,000 crore via QIP.
IREDA: The company has successfully raised Rs 1,500 crore today through the issuance of bonds.
S.P. Apparels: The company completed the acquisition of Young Brand Apparel for Rs 167 crore.
HDFC Bank: SBI Mutual Fund raises stake in the company to over 5%.
Sterlite Technologies: The Pre-trial mediation with US-based Prysmian Cables remains unsuccessful. The case against the company filed by Prysmian Cables is to commence trial on
July 23.
Cipla: Blackrock raised its stake in the company to over 5%. USFDA inspection at its manufacturing facility in Goa ended with 6 observations.
МСХ: The company shortlisted names of candidates for the post of MD & CEO. The company will seek regulatory approvals for appointment.
TVS Motor: The company signed a pact with CSC Grameen eSTORES for a commercial vehicle range.
KBC Global: secures ₹20 million contract for East Africa infrastructure development
BIOCON: CO SAYS USFDA CONCLUDES INSPECTION WITH FOUR OBSERVATIONS AT API FACILITY IN VISAKHAPATNAM
MEDPLUS HEALTH SERVICES: CO UNIT HAS RECEIVED SEVEN DAYS SUSPENSION ORDER OF DRUG LICENSE FOR A STORE SITUATED AT ONGOLE, ANDHRA PRADESH
PANACEA BIOTEC: CO ANNOUNCES INCORPORATION OF US UNIT, PANACEA BIOTEC INC., STRENGTHENING PRESENCE IN HEALTHCARE MARKET
SUN PHARMA: CO’S GL0034 (UTREGLUTIDE) SHOWS PROMISING WEIGHT LOSS AND METABOLIC BENEFITS IN OBESITY STUDY
NEWGEN SOFTWARE TECH: CO ANNOUNCES USD 1.48 MILLION AGREEMENT WITH US CLIENT
VEDANTA: CO PROMOTER GROUP WAS LIKELY TO SELL ABOUT 9 CR SHARES TO RAISE AROUND RUPEES 4,000 CR THROUGH BLOCK DEALS || VEDANTA RESOURCES HAS DENIED ANY PLANS TO SELL STAKES IN CO - ET NOW
GARDEN REACH SHIPBUILDERS: CO BAGS EXPORT ORDER FOR COMMERCIAL VESSELS WORTH 54M USD OR 405 CR RUPEES
INOX GREEN ENERGY SERVICES: CO BOARD MEET ON JUNE 26 TO CONSIDER FUNDRAISING PROPOSAL
JSW ENERGY: CO UNIT BAGS 300 MW WIND-SOLAR HYBRID PROJECT FROM SECI IN TRANCHE VIII BIDDING
TATA STEEL: CO RECEIVES NCLT APPROVAL FOR AMALGAMATION WITH BHUBANESHWAR POWER
CRAFTSMAN AUTO: CO SAYS FUND RAISING COMMITTEE APPROVES ALLOTMENT OF EQUITY SHARES WORTH RUPEES 12B TO QUALIFIED INSTITUTIONAL BUYERS AT ISSUE PRICE OF RUPEES 4,400 PER EQUITY SHARE
NANDAN DENIM: CO PROMOTER GROUP SOLD 25 LAKH SHARES ON JUNE 20 VIA OPEN MARKET
VAMA INDUSTRIES: CO GETS ORDER WORTH 743.2M RUPEES || MCAP OF 315.77M RUPEES
ARIHANT CAPITAL MARKETS: CO APPROVED DIVESTMENT OF 100% EQUITY STAKE IN UNIT ARIHANT INSURANCE BROKING SERVICES TOTAL CONSIDERATION FROM DISPOSAL IS USD 400,000 ENTERED INTO SHARE SALE AND PURCHASE AGREEMENT WITH LOCKTON OVERSEAS
#CNBCTV18Market | Morgan Stanley gives overweight call on #IGL, says amid global gas outages & decreasing APM gas allocation, co hiked CNG prices. As CNG remains attractive vs alternative fuels, hike should support margin normalisation
#CNBCTV18Market | Goldman Sachs initiates buy call on TBO Tek, says expect FCF to PAT ratio to stay higher than 100%. Operating leverage to drive a 30%/33% EBITDA/net income CAGR during FY24-30
#CNBCTV18Market | MOSL gives buy call on #ICICIBank, says loan growth to remain robust, focusing on quality underwriting. Liability momentum healthy, superior tech to aid customer acquisition
#CNBCTV18Market | Morgan Stanley gives overweight call on Zomato, says Zepto raising funding round further raises relevance of quick commerce channel, however, there is probability of competitive intensity increasing in business in near-term
Morgan Stanley forecasts 15.3% CAGR in Indian infrastructure investments over next five years
India Daybook – Stocks in News..
*JSW Energy:* JSW Neo Energy gets LoA for 300 MW wind-solar hybrid capacity from SECI. (Positive)
*Optiemus Infra:* Company incorporates wholly-owned subsidiary Optiemu sUnmanned Systems. (Positive)
*GRSE:* Company sings contract for construction & delivery of multi-purpose vessels worth ~$54 Million. (Positive)
*RVNL:* Company Wins Order Worth 192cr Rupees (Positive)
*Newgen:* Company announces USD 1.48 Million Agreement with US Client. (Positive)
*Tata Power:* CARE Ratings has upgraded the rating of the company's Long-Term rating on the bank and debt facilities from ‘CARE AA/Positive' to 'CARE AA+/Stable'. (Positive)
*Kirloskar Pneumatic:* Company signs MoU to acquire majority stake in Systems and Components India. (Positive)
*Chemical Stocks:* DGTR recommends extension of anti-subsidy duty on a Chinese chemical for five more years to guard domestic players. (Positive)
*Power Stocks:* Centre approves new transmission schemes worth Rs 13,595 crore to evacuate 4.5 GW RE power each from Rajasthan and Karnataka: (Positive)
*Aster DM:* Morgan Stanley bought shares after key foreign investors offloaded stakes worth Rs 1,530 crore. (Positive)
*Gas distribution stocks:* CNG price hiked in Delhi, Noida and other cities (Positive)
*E Commerce stocks:* Relief for e-commerce companies as decided to reduce TDS deduction to 0.5% versus 1.0% (Positive)
*Infra stocks:* Relief for highway developers as govt to levy GST on basis of actual payment instead of onetime payment (Positive)
*KBC Global:* Company secures ₹20 million contract for East Africa infrastructure development. (Positive)
*Lupin:* Company receives the EIR from the USFDA for its manufacturing facility in Somerset, New Jersey, with a Voluntary Action Indicated. (Positive)
*Hindustan Zinc:* Company becomes the preferred supplier of zinc to U.S.-based AEsir Technologies. (Positive)
*TVS Motor:* Company signs agreement with CSC Grameen eStores for its commercial vehicle range (3-Wheelers). (Positive)
*Vama Industries:* Company has received a Supply Order worth of Rs 74.32 Crores from New Space India Limited (NSIL) A CPSE under Department of Space, Government of India (Positive)
*IGL/MGL/GUJGAS/ADANI TOTAL:* City Gas Distributions increase CNG prices by Rs 1-1.50 almost pan India (Positive)
*Vedanta:* Parent Company Vedanta Resources strongly denies any plans to sell a stake in Vedanta (Positive)
*HG Infra:* Company incorporated multiple solar subsidiary companies. (Positive)
*Sun Pharma:* Company's GL0034 demonstrates a significant Phase 1 result in an oral presentation at ADA 84th scientific sessions. (Positive)
*Welspun Specialty:* Company has been notified as L1 bidder by BHEL for supply of Seamless Stainless Steel Boiler Tubes for NTPC Talcher 2 X 660 MW Super Critical Thermal Power Project. (Positive)
*VIp Ind:* SBI Mutual Fund raises stake in company to 6.0 percent (Positive)
*Axis Bank:* Morgan Stankey bought 1,70,00,000 shares at Rs 1225.75/ share (Positive)
*SP Apparels:* Completed the acquisition of entire shares (100%) of M/s. Young Brand Apparel Private Limited. (Neutral)
*Bank of Maharashtra:* Company declared dividend of Rs 1.40 per equity share. (Neutral)
*Cipla:* Black Rock raises stake in Company to over 5%. U.S. FDA inspection at Cipla's manufacturing facility in Goa ends with 6 observations. (Neutral)
*ONGC, Indian Oil Corp:* Signs Mou To Set Up Small Scale Lng Plant Near Hatta Gasfield In Vindhyan Basin. (Neutral)
*HDFC Bank:* SBI Mutual Fund raises holding in Company to over 5%. (Neutral)
*MCX:* Company shortlists names of candidates for the post of MD and CEO (Neutral)
*IREDA:* Company raised Rs. 1500 crore through issuance of bonds (Neutral)
*Vodafone Idea:* Company completes minimum rollout obligation for all 5G circles. (Neutral)
*Pnb Housing:* Asia Opportunities V (Mauritius) Cuts 2.46% Stake to 5.19% (Neutral)
*Prestige Estates:* Company board approves raising up to Rs 5,000 crore via QIP (Neutral)
Beat The Street | Stock Market News
*L&T:* Commissioner of CGST & CX Howrah Commissionerate levies penalty of Rs 5.9 crore. (Neutral)
*PNB Housing Finance:* Asia Opportunities V (Mauritius) Cuts 2.46% Stake in Pnb Housing Finance To 5.19% (Neutral)
*Craftsman:* Company approves allotment of 27.3 lakh shares to eligible QIB at issue price of Rs 4,400/share (Neutral)
*Ami Organics:* Company approves issue & allotment of 32.3 lakh shares to eligible QIB at issue price of Rs 1,240/share
*Reliance Industries:* Shareholders approve reappointment of Saudi Aramco Chairman Yasir Othman H Al-Rumayyan as independent director. (Neutral)
*Biocon:* U.S. FDA concludes GMP inspection of API facility at Visakhapatnam with four observations (Neutral)
*EIH:* Kallol Kundu resigns from the post of EIH's CFO with effect from September 25 (Neutral)
*Fertiliser Stocks:* GST Council sends request to reduce GST on fertilisers to Group of Ministers GoM on rate rationalisation. (Neutral)
*Tata Steel*: About Company’s 1,500 workers to go on indefinite strike, union says, Bloomberg (Negative)
*Sterlite Technologies:* Company pre-trial mediation with U.S.-based Prysmian Cables unsuccessful. (Negative)
*Astra Zeneca Pharma:* Company unsuccessfully completes exploration phase for search of buyer to act as a Contract Manufacturing Organisation. (Negative)
*CarTrade Tech:* Highdell Investment and Macritichie Investments likely to sell 7% and 3.4% stake respectively on Monday via block deals. (Negative)
Fewer Project Launched In Q2 Leads To 13% Drop In New Home Supply
Fresh supply of housing units is estimated to decline 13% during this quarter across nine major cities with builders launching less number of projects because of the general election, according to real estate data analytic firm PropEquity.
PropEquity data shows that new housing supply in April-June is estimated to fall to 97,331 units across nine major cities as against 1,11,657 units in the year-ago period.
Pune and Hyderabad are witnessing fewer launches during this quarter while the new supply in Delhi-NCR has almost doubled.
Samir Jasuja, Chief Executive Officer & Managing Director of PropEquity, attributed the fall in new supply of housing units to the Lok Sabha election which took place in this quarter. The new supply is 7% lower from the January-March quarter of this calendar year, he added.
As per the city-wise data, new launches of residential properties in Delhi-NCR are likely to rise 95% to 11,118 units during April-June this year from 5,708 units a year ago.
> The new supply of housing in Bengaluru is likely to rise 21% to 14,297 units from 11,848 units.
> In Chennai, the launches are likely to rise 67% to 5,754 units from 3,634 units.
> However, the fresh supply in Hyderabad is estimated to fall 36% to 11,603 units from 18,232 units.
> In Kolkata, new supply is likely to fall 26% to 3,411 units from 4,617 units.
> Housing supply in Mumbai is estimated to dip 6% to 9,918 units from 10,502 units.
> Navi Mumbai is likely to witness a 5% decline in new supply of homes to 6,937 units from 7,272 units.
> New launches in Pune are seen falling 47% to 15,568 units from 29,261 units.
> In Thane too, the new supply of residential properties is estimated to fall 10% to 18,726 units in April-June from 20,781 units in the year-ago period.
PropEquity has estimated a marginal 2% dip in housing sales during April-June 2024 to 1,19,901 units from 1,21,856 units in the corresponding period of the preceding year.
PropEquity is a real estate data and analytics company. It tracks over 1,73,000 projects of about 57,500 developers across 44 cities in India on a real-time basis.
Genesys International launches AI navigation map for auto & mobility industries.
Garden Reach Shipbuilders & Engineers Ltd secured International Contract, worth $54 million
Contract awarded by: Carsten Rehder Schiffsmakler and Reederei GmbH & Co
Project: Construction and delivery of 4 multi-purpose vessels
Vessel Capacity: 7,500 DWT each
Nature of Contract: Design, build and deliver
Timeframe: 33 Months
Order Size: $54 million (₹451.30 Crores)
MOSL ON ICICI BANK
MAINTAIN BUY TARGET: 1,350
Loan Growth To Remain Robust, Focusing On Quality Underwriting
Liability Momentum Healthy, Superior Tech To Aid Customer Acquisition
NIMs To Remain Rangebound In Near-term Fee Growth Steady
Operating Leverage Emerging As A Key Lever With Focus On 'Return On Effort'
Asset Quality Remains Robust, Credit Cost To Normalise Gradually
MORGAN STANLEY ON IGL
MAINTAIN OVERWEIGHT , TARGET: 575
Amid Global Gas Outages & Decreasing APM Gas Allocation, IGL Hiked CNG Prices
As CNG Remains Attractive Vs Alternative Fuels, Hike Should Support Margin Normalisation
Investor Confidence On Growth Should Return As The EV Policy Overhang Unwinds
GAIL Is Top Pick
CENTRAL BANK OF INDIA | BANK AIM FOR A 12% TO 14% BUSINESS GROWTH, OPTIMIZE OUR CREDIT-DEPOSIT RATIO TO 70%-72%, AND TARGET A 1% RETURN ON ASSETS BY MARCH 2025 - ANNUAL REPORT
Brokerage Radar | Kotak Securities on Apollo Hospitals: Maintain Add with Target Price of ₹6735
Brokerage Radar | Jefferies on Havells: Maintain Hold with Target Price of Rs 1800
Brokerage Radar | Goldman Sachs on TBO Tek: Initiate Buy with target price of Rs 1970
News Headlines from Business News Agencies :*
*Business Standard :*
Bharat Biotech moves to add ICMR as co-owner in Covaxin patent filings
Byju's moves Karnataka HC against NCLT order barring second rights issue
Tata Steel hopes to conclude agreement with Dutch government this fiscal
Export projection for FY25 underway, working on ease of doing biz: DGFT
India's FMCG sector continues to be strong, says HUL's Nitin Paranjpe
May oil imports: Russia at record high, Saudi lowest in 10-month
Retail inflations for agricultural, rural workers remain almost flat in May
Centre to announce results of maiden critical minerals blocks on Monday
Forex reserves drop $2.92 bn to $652.89 bn for week ended June 14
China asks Visa, Mastercard to reduce bank card transaction fees: Report
Akme Fintrade IPO gets nearly 54 times subscription on last day of bidding
Market regulator Sebi's price discovery framework puts shade on holdcos
Rice exporter GRM Overseas to raise Rs 136.5 cr via issue of share warrants
*Economic Times :*
India's electronic manufacturing may reach USD 500 bn by 2030: CII report
Commerce min engaging with different departments on India, Korea FTA upgrade talks: Official
Fintech sector will dominate future Unicorns at USD 58 billion: Hurun report
Neobank Jupiter's NBFC business raises Rs 20 crore from Peak XV, Matrix, others
Zepto’s mega fundraise; Oyo funding gets shareholder nod
Vi completes minimum 5G rollout requirements
SoftBank gets promoter tag in Unicommerce’s IPO filing
Get InvITs under purview of bankruptcy law: SBI MD
Prestige Estates board approves Rs 5,000 crore fundraising plan via QIP or other modes
Former RBI DG Mundra asks regulators to 'introspect' after recent instances of unease, rulings
Unity Small Finance Bank inks pact to acquire office space worth Rs 393 crore
BPCL retail outlets will act as EV hubs to purchase, test ride & experience electric scooters
Armee Infotech files papers to garner Rs 250 cr via IPO
*Mint :*
India to hold auction for spectrum worth ₹96,318 crore on Tuesday
India plans to reduce wheat import duty from July in a bid to cool prices
Centre likely to issue green bonds worth over ₹25,000 crore in FY25
India plans global trade promotion body for MSME exports
Dividend bounty: Finance Minister receives ₹6959.29 crore from SBI for FY24
Hinduja Group begins bond sale to raise ₹7,300 cr for Reliance Capital: Report
Accenture secures GenAI orders worth $2 billion in first nine months of FY24
Atal Pension Yojana enrolments see record 12 mn additions in FY24
FSSAI plans 24-hour licence issuance for traders, distributors
Digital camera market is too small for local manufacturing, says Nikon India MD
Zepto's ad revenue, loyalty programme rev up growth as quick commerce booms
SoftBank chief rues selling Nvidia stake and missing out on $150 billion
'Flipkart Minutes' to enter q-commerce market in July, rivalling Blinkit: Report
InsuranceDekho appoints Avendus to help raise around $150 mn
Fulcrum LNG named to help Guyana develop its natural gas resources
KOTAK SEC ON APOLLO HOSPITALS
Maintain Add with Target Price of Rs 6735
• All set for the next leg of growth
• Guiding for robust 8% YoY patient volume growth in FY25
• Aiming to create a retail healthcare powerhouse with SP009 Apollo Healthco
• View the Keimed merger as a step in the right direction
• Preferred hospital pick
JEFFERIES ON HAVELLS
Maintain Hold with Target Price of Rs 1800
• Key drivers for Lloyd margin could be normalizing adspend, capacity of utilization and cost savings
• FY24 saw strong B2B demand, but witnessed capacity constraint in Cables
• New capacity (+25% increase) is est to commission in Jun25
• Expect +21% EPS CAGR over FY24-27, led by margin revival
Goldman Sachs initiates 'Buy' rating on TBO Tek with a target price Rs 1,970
• Consolidating demand-supply in a large, fragmented total addressable market
• Business model as having multiple positive characteristics
• Positives - asset light balance sheet, negative working capital, strong FCF generation, and low competition/regulatory risks
• Company's India business as indexed to the growth in 'Affluent India'
SEBI starts probe on #QuantMutualFund over alleged irregularities.
> Ujjivan SFB lowers its fiscal 2025 loan growth guidance by 500 basis points
> According to an analyst presentation the bank made on Friday, lender expects the loan book to grow by 20% year-on-year by March 31, 2025.
Oil extends losses as strong dollar weighs on commodities markets
Oil prices declined in early Asian trading on Monday, marking a second consecutive session of losses. The drop was attributed to a stronger dollar, which renewed concerns about prolonged higher interest rates and dampened investors' appetite for risk.
Brent crude futures fell by 40 cents, or 0.5%, to $84.84 per barrel as of 0036 GMT, following a 0.6% decrease on Friday. Meanwhile, U.S. West Texas Intermediate crude futures were down 39 cents, or 0.5%, trading at $80.34 per barrel.
Stocks To Watch |Ready, set, trade! Keep an eye on these stocks as they set the market abuzz
Vedanta Resources strongly denies any plans to sell a stake in Vedanta Limited.” -Spokesperson, Vedanta Resources
FERTILIZER STOCKS: Govt enhances allocation for Fertilizer Sector under SIGHT Programme of the National Green Hydrogen Mission_Allocation for fertilizer sector increased from 5.5 lakh tonn/ annum to 7.5 lakh tonnes/ annum of Green Ammonia
Power Grid, KP Green Energy, Bajel Projects, Apar Industries, Jyoti Structures
Govt clears 13,600cr transmission projects for clean power (For Rajasthan+Karnataka)
Tata Steel: TATA STEEL WORKERS IN UK TO BEGIN INDEFINITE STRIKE ACTION ON JULY 8 - UNITE UNION. ABOUT 1,500 TATA WORKERS TO GO ON INDEFINITE STRIKE, UNION SAYS
MCX: Has shortlisted the names of candidates for the post of MD & CEO
Prestige Estates
Approved raising of funds by way of issuance of equity shares or other eligible securities of Rs 5000 cr by QIP + To monetize assets of the Hospitality segment
JSW Energy Limited: Received Wind-Solar Hybrid Power Project of 300 MW from Solar Energy Corporation of India
INOX GREEN ENERGY: To consider raising funds on June 26
Lupin (-ve): Co Receives Voluntary Action Indicated Status-EIR from U.S. FDA for its Somerset Manufacturing Facility
UJJIVAN SMALL FINANCE BANK (-ve):
Bank has reduced the FY25 Guidance -
Earlier Guidance vs Now -
Gross Loan book growth: ~25% vs ~20% Now
Credit Cost - 1.4-1.5% vs ~1.7% now
NIM - 9% unchanged
ROE - 22% vs ~20% now
CIPLA (-VE): US FDA issues 6 observations to Cipla’s Goa Unit
PSU BANKS, MFI (-VE)-CANARA BANK, INDIAN OVERSEAS BANK: Telangana state announces farm waiver. Approved a farm loan waiver of up to Rs 2 lakh for farmers in the state
CarTrade Tech (BLOCK DEAL): FIIs- Highdell Investment and MacRitchie Investments to sell upto 13% stake worth Rs 500cr. Floor Price: Rs 820 (4.3% discount). Both entities combined stake to fall from 34% to 21%
ACTION FOR DAY
BSE Sensex rejig to become effective, Adani Ports to replace Wipro
Adani Enterprises-AGM
Chemplast Sanmar board to mull fundraising
Lock-in period ends for-Landmark Cars (21%)+Muthoot Microfinance (58%)
Pan India authentication has been approved on the basis of Biometric aadhar (+ve for RNIT Tech, Transline-Startups)+Govt may mandate bio-metric attendance as well
Issue related to GST on online gaming was not on agenda (-VE FOR DELTA, NAZARA, ONMOBILE)
GST exemption on fertiliser product has been referred to GoM (-ve short term impact)
Andhra Pradesh ,Finance Minister-No special package demanded for Andhara Pradesh (-ve for some-stock which had run up)
TCPL PACKAGING (-VE) (will be negative for e-commerce players as cost goes up)
GST rate on ‘carton, boxes and cases of both corrugated and non-corrugated paper or paper-board’ to be reduced from 18% to 12%.
LIQUOR STOCKS, BCL, Gulshan Poly (+VE): Not levying GST on Extra Neutral Alcohol used for manufacture of alcoholic liquor for human consumption
IRB INFRA, PNC INFRA, ASHOK BUILDCON, DILIP BUILDCON-(RELIEF FOR HIGHWAY DEVELOPERS): To levy GST on the basis of actual payment instead of one time annual paymen
IRCTC (-VE): Services provided by railways like Platform Tickets, retiring rooms, clock room have been exempted from GST
ADANI PORTS&SEZ, JSW INFRA (+VE): Exemption from Compensation Cess leviable on the imports in SEZ by SEZ Unit/developer for authorised operations from 1st July, 2017
TANEJA AEROSPACE (+VE): Fixing a uniform rate of 5% IGST on imports of aircraft parts, components, testing equipment, tools and toolkit
New India Assurance,⁠ICICI Lombard,⁠Go Digit General, ⁠GIC (+VE): Co-insurance premiums exempted from GST taxation under GST law
GOLDMAN SACHS ON TBO TEK: Initiate Buy with TP of Rs 1970. Business model as having multiple positive characteristics. Positives - asset light balance sheet, negative working capital, strong FCF generation, and low competition/regulatory risks
#CNBCTV18Market | MOSL gives buy call on #ICICIBank, says loan growth to remain robust, focusing on quality underwriting. Liability momentum healthy, superior tech to aid customer acquisition
#CNBCTV18Market | Morgan Stanley gives overweight call on Zomato, says Zepto raising funding round further raises relevance of quick commerce channel, however, there is probability of competitive intensity increasing in business in near-term
WELSPUN SPECIALTY SOLUTIONS: CO WINS RUPEES 117 CR CONTRACT FROM BHEL FOR NTPC TALCHER PROJECT
GENESYS INTERNATIONAL: CO LAUNCHES INDIA'S FIRST AI NAVIGATION MAP FOR AUTO AND MOBILITY INDUSTRIES
BIOCON: EMA APPROVES BIOCON BIOLOGICS’ NEW MABS FACILITY IN INDIA AND RENEWS GMP CERTIFICATIONS FOR INDIA AND MALAYSIA SITES
News Headlines from Business News Agencies:
Business Standard
Bharat Biotech moves to add ICMR as co-owner in Covaxin patent filings
Byju's moves Karnataka HC against NCLT order barring second rights issue
Tata Steel hopes to conclude agreement with Dutch government this fiscal
Export projection for FY25 underway, working on ease of doing biz: DGFT
India's FMCG sector continues to be strong, says HUL's Nitin Paranjpe
May oil imports: Russia at record high, Saudi lowest in 10-month
Retail inflations for agricultural, rural workers remain almost flat in May
Centre to announce results of maiden critical minerals blocks on Monday
Forex reserves drop $2.92 bn to $652.89 bn for week ended June 14
China asks Visa, Mastercard to reduce bank card transaction fees: Report
Akme Fintrade IPO gets nearly 54 times subscription on last day of bidding
Market regulator Sebi's price discovery framework puts shade on holdcos
Rice exporter GRM Overseas to raise Rs 136.5 cr via issue of share warrants
Economic Times
India's electronic manufacturing may reach USD 500 bn by 2030: CII report
Commerce min engaging with different departments on India, Korea FTA upgrade talks: Official
Fintech sector will dominate future Unicorns at USD 58 billion: Hurun report
Neobank Jupiter's NBFC business raises Rs 20 crore from Peak XV, Matrix, others
Zepto’s mega fundraise; Oyo funding gets shareholder nod
Vi completes minimum 5G rollout requirements
SoftBank gets promoter tag in Unicommerce’s IPO filing
Get InvITs under purview of bankruptcy law: SBI MD
Prestige Estates board approves Rs 5,000 crore fundraising plan via QIP or other modes
Former RBI DG Mundra asks regulators to 'introspect' after recent instances of unease, rulings
Unity Small Finance Bank inks pact to acquire office space worth Rs 393 crore
BPCL retail outlets will act as EV hubs to purchase, test ride & experience electric scooters
Armee Infotech files papers to garner Rs 250 cr via IPO
Mint
India to hold auction for spectrum worth ₹96,318 crore on Tuesday
India plans to reduce wheat import duty from July in a bid to cool prices
Centre likely to issue green bonds worth over ₹25,000 crore in FY25
India plans global trade promotion body for MSME exports
Dividend bounty: Finance Minister receives ₹6959.29 crore from SBI for FY24
Hinduja Group begins bond sale to raise ₹7,300 cr for Reliance Capital: Report
Accenture secures GenAI orders worth $2 billion in first nine months of FY24
Atal Pension Yojana enrolments see record 12 mn additions in FY24
FSSAI plans 24-hour licence issuance for traders, distributors
Digital camera market is too small for local manufacturing, says Nikon India MD
Zepto's ad revenue, loyalty programme rev up growth as quick commerce booms
SoftBank chief rues selling Nvidia stake and missing out on $150 billion
'Flipkart Minutes' to enter q-commerce market in July, rivalling Blinkit: Report
InsuranceDekho appoints Avendus to help raise around $150 mn
Fulcrum LNG named to help Guyana develop its natural gas resources
India Daybook – Stocks in News..
JSW Energy: JSW Neo Energy gets LoA for 300 MW wind-solar hybrid capacity from SECI. (Positive)
Optiemus Infra: Company incorporates wholly-owned subsidiary Optiemu sUnmanned Systems. (Positive)
GRSE: Company sings contract for construction & delivery of multi-purpose vessels worth ~$54 Million. (Positive)
RVNL: Company Wins Order Worth 192cr Rupees (Positive)
Newgen: Company announces USD 1.48 Million Agreement with US Client. (Positive)
Tata Power: CARE Ratings has upgraded the rating of the company's Long-Term rating on the bank and debt facilities from ‘CARE AA/Positive' to 'CARE AA+/Stable'. (Positive)
Kirloskar Pneumatic: Company signs MoU to acquire majority stake in Systems and Components India. (Positive)
Chemical Stocks: DGTR recommends extension of anti-subsidy duty on a Chinese chemical for five more years to guard domestic players. (Positive)
Power Stocks: Centre approves new transmission schemes worth Rs 13,595 crore to evacuate 4.5 GW RE power each from Rajasthan and Karnataka: (Positive)
Aster DM: Morgan Stanley bought shares after key foreign investors offloaded stakes worth Rs 1,530 crore. (Positive)
Gas distribution stocks: CNG price hiked in Delhi, Noida and other cities (Positive)
E Commerce stocks: Relief for e-commerce companies as decided to reduce TDS deduction to 0.5% versus 1.0% (Positive)
Infra stocks: Relief for highway developers as govt to levy GST on basis of actual payment instead of onetime payment (Positive)
KBC Global: Company secures ₹20 million contract for East Africa infrastructure development. (Positive)
Lupin: Company receives the EIR from the USFDA for its manufacturing facility in Somerset, New Jersey, with a Voluntary Action Indicated. (Positive)
Hindustan Zinc: Company becomes the preferred supplier of zinc to U.S.-based AEsir Technologies. (Positive)
TVS Motor: Company signs agreement with CSC Grameen eStores for its commercial vehicle range (3-Wheelers). (Positive)
Vama Industries: Company has received a Supply Order worth of Rs 74.32 Crores from New Space India Limited (NSIL) A CPSE under Department of Space, Government of India (Positive)
IGL/MGL/GUJGAS/ADANI TOTAL: City Gas Distributions increase CNG prices by Rs 1-1.50 almost pan India (Positive)
Vedanta: Parent Company Vedanta Resources strongly denies any plans to sell a stake in Vedanta (Positive)
HG Infra: Company incorporated multiple solar subsidiary companies. (Positive)
Sun Pharma: Company's GL0034 demonstrates a significant Phase 1 result in an oral presentation at ADA 84th scientific sessions. (Positive)
Welspun Specialty: Company has been notified as L1 bidder by BHEL for supply of Seamless Stainless Steel Boiler Tubes for NTPC Talcher 2 X 660 MW Super Critical Thermal Power Project. (Positive)
VIp Ind: SBI Mutual Fund raises stake in company to 6.0 percent (Positive)
Axis Bank: Morgan Stankey bought 1,70,00,000 shares at Rs 1225.75/ share (Positive)
SP Apparels: Completed the acquisition of entire shares (100%) of M/s. Young Brand Apparel Private Limited. (Neutral)
Bank of Maharashtra: Company declared dividend of Rs 1.40 per equity share. (Neutral)
Cipla: Black Rock raises stake in Company to over 5%. U.S. FDA inspection at Cipla's manufacturing facility in Goa ends with 6 observations. (Neutral)
ONGC, Indian Oil Corp: Signs Mou To Set Up Small Scale Lng Plant Near Hatta Gasfield In Vindhyan Basin. (Neutral)
HDFC Bank: SBI Mutual Fund raises holding in Company to over 5%. (Neutral)
MCX: Company shortlists names of candidates for the post of MD and CEO (Neutral)
IREDA: Company raised Rs. 1500 crore through issuance of bonds (Neutral)
Vodafone Idea: Company completes minimum rollout obligation for all 5G circles. (Neutral)
Pnb Housing: Asia Opportunities V (Mauritius) Cuts 2.46% Stake to 5.19% (Neutral)
Prestige Estates: Company board approves raising up to Rs 5,000 crore via QIP (Neutral)
L&T: Commissioner of CGST & CX Howrah Commissionerate levies penalty of Rs 5.9 crore. (Neutral)
PNB Housing Finance: Asia Opportunities V (Mauritius) Cuts 2.46% Stake in Pnb Housing Finance To 5.19% (Neutral)
Craftsman: Company approves allotment of 27.3 lakh shares to eligible QIB at issue price of Rs 4,400/share (Neutral)
Ami Organics: Company approves issue & allotment of 32.3 lakh shares to eligible QIB at issue price of Rs 1,240/share
Reliance Industries: Shareholders approve reappointment of Saudi Aramco Chairman Yasir Othman H Al-Rumayyan as independent director. (Neutral)
Biocon: U.S. FDA concludes GMP inspection of API facility at Visakhapatnam with four observations (Neutral)
EIH: Kallol Kundu resigns from the post of EIH's CFO with effect from September 25 (Neutral)
Fertiliser Stocks: GST Council sends request to reduce GST on fertilisers to Group of Ministers GoM on rate rationalisation. (Neutral)
Tata Steel: About Company’s 1,500 workers to go on indefinite strike, union says, Bloomberg (Negative)
Sterlite Technologies: Company pre-trial mediation with U.S.-based Prysmian Cables unsuccessful. (Negative)
Astra Zeneca Pharma: Company unsuccessfully completes exploration phase for search of buyer to act as a Contract Manufacturing Organisation. (Negative)
CarTrade Tech: Highdell IStock to watch
1) APOLLO TYRES have seen a Triangle breakout on the daily chart. The stock has formed an Engulfing Bullish candle supported with strong volumes on weekly charts. Momentum indicator RSI is positive on the daily chart. Therefore, the stock looks good on dips to 493 can test 545 support is at 466. positional view.
2)IRFC is hovering in a Rising channel on the daily charts. The stock is on the verge of a congestion breakout. Momentum indicator RSI is positive on the daily charts. Therefore, the stock looks good in the range of 176 to 172 and can test 200 support at 160. Positional view.
3)SAIL has seen a Flag formation breakout on the daily charts. The stock has formed a High wave candle on weekly charts. The momentum indicator RSI is positive on the daily charts. Therefore, the stock looks good in the range of 155 to 152 and can test 173 support at 141. Positional view
4)VEDANTA has seen a pullback after a multi-year Rounding Bottom breakout on the daily charts. The stock has formed a Bullish candle on the weekly charts. The momentum indicator RSI is positive on the daily chart. Therefore, the stock looks good on dips to 460 and can test 510 support at 430. Positional view
5)JSW STEEL has witnessed a Rising Wedge breakout on the daily charts. The stock has formed a Bullish candle on the weekly chart. Momentum Indicator RSI is positive on the daily charts. Therefore, the stock looks good on dips to 925 and can test 1000 support at 889. Positional view.
This content is for educational purposes only. Please consult your financial advisor before investing/tradingnvestment and Macritichie Investments likely to sell 7% and 3.4% stake respectively on Monday via block deals. (Negative)
Nifty closed @23,501.10 (+65.90) and Sensex @77,209.90 (+269.03) on Friday GIFT Nifty was trading at 23,383 (as of 7:30 a.m.)
FIIs net sold equities in cash to the tune of Rs 1,790 cr whereas DIIs bought equities in cash worth Rs 1,237 cr on June 21 2024
Govt starts taking call on Chinese investments, Indian cos ( note 3 Haier India’s plan to invest Rs 184 cr gets nod
SEBI suspects front running at Quant MF, launches probe
SBI plans to open 400 branches in FY 25 Chairman Dinesh Khara
Zepto raises $665 million for rapid expansion ahead of IPO
Mazgaon Dockyard in advanced talks with MoD for Rs 35,000 cr submarine deal
ONGC offers stake in Deen Dayal Gas Field after 7 year struggle
Ujjivan Small Finance Bank lowers guidance as stress builds up
ONGC, IOC partner to set up LNG plant in Madhya Pradesh
NCLT okays Raymond restructuring to demerge lifestyle business
Indian ad market to hit Rs 1.2 lac cr in 2024
Indian standards bureau unveils 2 EV guidelines
Daikin to sell 2 million units of AC in FY25, expand manufacturing capacity of compressors
Govt approves transmission projects worth Rs 13,595 cr
Essar awaits final approvals to start work on $4.5 billion steel plant in Saudi Arabia
Prestige Estates board approves Rs.5,000 crore fundraising via QIP and other modes
TCS partners with Xerox to transform its IT technology using cloud and generative AI
Hindustan Zinc shares gain on collaboration for battery production
Stanley Lifestyles secures Rs 161 crore from anchor investors ahead of IPO
Poly Medicure shareholder divests stake for Rs 443.8 cr
Indian ADRs: Dr Reddy’s (+1.1%), ICICI Bank (-0.3%) and Infosys (-1.1%)

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