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June 21, 2024

BULK DEAL ALERT
Indiabulls Real Estate
EQUITY INTELLIGENCE
Bought 33,00,000 shares @ Rs.151.28
BOFA SECURITIES
Bought 34,37,792 shares @ Rs.151.28
IB REAL;
Co. Informs Change in the name of the Company from
'Indiabulls Real Estate Limited' to 'Equinox India Developments Limited' with effect from today i.e. June 20, 2024.
IB REAL IS NOW
EQUINOX INDIA
DEVELOPMENT
IBREL - BofA Sec bought 34L @ 154.92 and Equity Intelligence India bought 33L @ 151.28
Delivery of ~ 2.90 Cr shares
News Headlines from Business News Agencies:
Business Standard
Govt appoints Girija Subramanian as CMD of New India Assurance Company
India sees 43% decline in FDI inflows in 2023, drops to 15th spot
Indians' funds in Swiss banks plunge 70% to hit 4-year low of Rs 9,771 cr
70% CEOs ramping up tech investments to improve biz in next 1 year
BoE keeps key interest rate at 16-year high of 5.25% despite inflation fall
Biocon searching for partner to test generic Wegovy, Ozempic in China
Rising deposit costs to weigh on NIMs, RoA of banks: CRISIL Ratings
Tata Communications raises $250 million sustainability-linked loans
Tech startup funding at $4.1 bn in H1 2024, 4% higher than H2 2023: Tracxn
India ranks sixth globally in deeptech startup ecosystems: Nasscom
Housing sales likely to decline 2% in Apr-June across top 9 cities
Uber launches EV service, Uber Green, in Kolkata to curb emissions
Economic Times
Gokaldas to invest Rs 300 Cr in Maharashtra fabric unit ahead of possible buyout
Hinduja Group starts bond sale process to fund Reliance Capital buy
Tata Motors launches digital marketplace 'Fleet Verse' for commercial vehicles
Groww Mutual Fund files draft documents for Nifty EV & New Age Automotive ETF
DGCA revamps seaplane regulations to boost sustainable operations
Thermal plant load factor to remain healthy at 70 pc in FY'25 on power demand growth of 6 pc: ICRA
IRDAI bars insurers from advertising unit-linked policies as investment products, issues advertising rules
EU envoys agree on more Russia sanctions. LNG imports are among the targets
Awfis to expand in new markets, says CMD Amit Ramani
Focus on agriculture sector in Budget 2024 as it can generate employment: PHDCCI
MarketsMojo appoints Tata Digital's Amit Golia as group CEO
Mint
Accenture Q3 results: Revenue at $16.5 billion, cash dividend at $1.29 per share
Centre Court Capital backs Quidich Innovation Labs in Series A funding round
Infosys McCamish reports first revenue decline in eight years
VC firm General Catalyst acquires Venture Highway to expand in India
EPFO adds 1.89 million net members in April an increase of 31.29%
Shaktikanta Das on RBI supervision: ‘Need to see stress before it builds up’
Sebi directs Religare's board, Saluja to seek approvals for Burman open offer
No gain for Vodafone Idea from parent's 18% stake sale in Indus Towers
Flipkart, Amazon ramping up their beauty business, eye small-town shoppers
Binance cleared to operate in India, subject to a $2.25-mn fine and compliance
Jefferies projects Nykaa's CAGR at 20% between FY24 and FY27
Ola Electric, Emcure Pharmaceuticals get SEBI nod for IPO launch
Mainboard IPOs Closing Today
DEE Development Engineers Limited IPO
Akme Fintrade India Ltd(Aasaan Loans IPO)
Mainboard IPOs Opening Today
Stanley Lifestyles Limited IPO
SME IPO Opening Today
Medicamen Organics Limited IPO
SME IPOs Closing Today
GEM Enviro Management Limited IPO
Durlax Top Surface Limited IPO
Falcon Technoprojects India Limited IPO
Here's an example of peak euphoria - this SME co. GPES Solar just imports and distributes Solar panels and inverter from China. Got bids of 16600 cr against IPO issue of 30.8 cr.
Fun part is Govt has restricted (banned) imports of Solar modules starting April 1 this year..
#GPES SOLAR #IPO
They are GP Eco solution who are distributor of solar panels and Inverter from China there own brand no sale or negligible .
And yes Up to march 2024 they had sunshine sector but after 31march2024 In India imported panels banned.
See #Rhp only they 90% revenue only from distribution
Don't go with Hype and blindly #sme and name of #solar and Don't see subscription because we have seen #sme ipo and pre ipo is just new game ,just be friend of merchant banker take pre ipo and make hype.
And can anyone can ask them what they will do #almm
SEBI restricts JM Financial's role as lead manager to public issue of debt securities
The SEBI order explicitly excludes JM Financial's involvement as a lead manager to public issue of equity instruments and other activities.
NACL INDUSTRIES:
CO SAYS AFTER AUDITORS' OPINION ON FINANCIAL STATEMENTS CO HAS TAKEN DECISIVE STEPS TO ADDRESS POTENTIAL DISCREPANCIES
CO HAS MADE PROVISION IN BOOKS OF ACCOUNT, TO ACCOUNT FOR POTENTIAL LOSSES
CO SAYS BASED ON FINDINGS OF IRREGULARITIES, MISCONDUCT IN BUSINESS DEALINGS, CO TERMINATED CONCERNED EMPLOYEE
CO HAS ENGAGED ERNST & YOUNG LLP AS INVESTIGATION AGENCY TO CONDUCT THOROUGH FORENSIC AUDIT
ONGC: CO APPROVED APPOINTMENT OF MR DEVENDRA KUMAR AS CHIEF FINANCIAL OFFICER || CO APPROVED LETTER OF COMFORT (LOC) FOR RAISING DEBT BY OPAL UP TO 54B RUPEES
CLEAN SCIENCE AND TECHNOLOGY: CO HAS SUBSCRIBED TO ADDITIONAL EQUITY SHARES OF CLEAN FINO-CHEM, A UNIT OF CO FOR 500M RUPEES
FII BUY NET RUPEES 415.30 CR OF INDIA SHARES TODAY || DII SELL NET RUPEES 325.81 CR
KSOLVES INDIA: CO DECLARED DIVIDEND 8 RUPEES PER SHARE
NSE INDEX PROVISIONALLY ENDS UP 0.27% OR +62.85 POINTS AT 23,578.85
POWER FINANCE CORP: CO COMMENTS ON NEWS ARTICLE ON SANCTION OF LOAN TO SHAPOORJI PALLONJI GROUP OF COMPANIES || CO SAYS DILIGENCE PROCESS IS STILL UNDERWAY AND NO FUNDS HAVE BEEN DISBURSED TILL DATE
POWER FINANCE CORP: CO SAYS POST COMPLETION OF DETAILED DUE DILIGENCE, BOARD OF DIRECTORS OF PFC WOULD TAKE MERIT BASED DECISION ON WAY FORWARD
RPSG VENTURES: CO UNIT ENTERED INTO DEED OF ASSIGNMENT WITH NATURES BASKET || DEAL FOR PURCHASE OF BRAND " GIFT STUDIO" || DEAL FOR TOTAL PURCHASE CONSIDERATION OF 247.5M RUPEES
VOLTAS: CO EXECUTED SHARE PURCHASE AGREEMENT/S WITH UNIVERSAL MEP PROJECTS PTE || EXECUTED SHARE PURCHASE AGREEMENT/S WITH UNIVERSAL MEP PROJECTS IN REPUBLIC OF SINGAPORE
TIME TECHNOPLAST: CO SAYS FINAL APPROVAL RECEIVED FOR MANUFACTURING OF TYPE-IV COMPOSITE CYLINDERS FOR HYDROGEN
BRITANNIA INDUSTRIES: CO SAYS VOLUNTARY RETIREMENT SCHEME OFFERED TO WORKERS AT KOLKATA FACTORY HAS BEEN ACCEPTED BY ALL PERMANENT WORKERS || CO SAYS NO MATERIAL IMPACT ON BUSINESS OPERATIONS
JM Financial: SEBI said that the company will continue to face restrictions on acting as lead manager for public debt issues until March 31, 2025
Stocks in News post Market closure
Aartech Solonics Limited : The Board of directors of the company has approve the proposal of Stock Split 1 into 2, and also approve the Bonus issue in the ratio of 1:2
Mukka Proteins Limited : The Company being one of the shareholders of Ento Proteins Private Limited, Associate Company executed an amended Shareholders Agreement with Ento Proteins Private Limited and Holocene Eco solutions Private Limited.
Oil and Natural Gas Corporation Ltd : Board approved Letter of Comfort (LOC) for raising debt by OPaL up to ₹5,400 crore.
G R Infra projects Limited : The project “Construction of Eight Lane Carriageway starting near Major bridge on Mej river to Junction with SH‐37A section of Delhi – Vadodara Access Controlled Green Field Alignment on EPC Mode under Bharatmala Pariyojana in the State of Rajasthan has been completed. The Completion certificate has been issued by the Authority’s Engineer on 20th June 2024 and has declared the project fit for entry into commercial operation with effect from 21st May 2024. contract price Rs 1071.27 crores.
Senvion Wind Technology : The Company has finalized the development order for 4 MW Parts. This development is projected to complete during FY 2024-25 and commence serial production in FY 2025-26.
Royal India Corporation Limited : Board meeting to be held on 25th June 2024, to consider and approve the proposal for raising funds.
Hampton Sky Realty Limited : Company is excited to announce its future plans for constructing a state-of-the-art luxury hotel(s) on its owned land, in collaboration with esteemed luxury hotel chain(s). This ambitious project aims to redefine opulence and hospitality, setting a new benchmark for luxury accommodation in the region.
Deco Mica Limited : The Board of Directors informed about the New lnstallation of SDD Compliance Software'.
RPSG Ventures Limited : M/s. Serene Vibes Private Limited (SVPL), a wholly-owned subsidiary of the Company has entered into a Deed of Assignment dated June 20, 2024 with Natures Basket Limited (NBL ), a subsidiary of Spencer's Retail Limited (SRL) for purchase of brand "The Gift Studio" owned by NBL for a total purchase consideration of Rs. 24.75 crore.
Worth Investment & Trading Co Limited : The Board of Directors of the Company has fixed July 03, 2024 as the Record date for the purpose of determining the eligibility of shareholders of the Company for the Split/ Sub-division of shares of the Company from Face Value of Rs. 10/- each to Face value of Rs. 1/- each.
YES BANK LIMITED : Board meeting to be held on June 25, 2024, to consider and approve raising of funds.
Real Eco-Energy Limited : Board meeting to be held on July 11, 2024,To consider a proposal for sub-division / split of the Equity shares of the Company having a face value of Rs. 10/- each, subject to such regulatory/statutory approvals as may be required, including the approval of the shareholders of the Company.
Bajaj Consumer Care Limited : Intimation of Record Date for the purpose of Buyback of Equity shares of Re.1/-each of the Bajaj Consumer Care Limited .Record date July 2, 2024 .
Growington Ventures India Limited : Board approve To take OCC Limit of Rupees Six Crores from Indian Bank.
GE Power India Limited : The company has received a letter of intent from NTPC GE Power Services Pvt. Limited, worth Rs:243.46 Crores
Amara Raja: The company Invests 20mn Euro to Increase Stake in European Battery Tech Company InoBat
Triveni Engineering and Industries Ltd.: The company acquires additional 36.34% stake in Sir Shadi Lal Enterprises Limited"
GIC Housing Finance: The company has become aware of a malware attack affecting some of its end-user systems and isolated the affected systems from the network to stop its further impact.
Voltas: The company executed a share purchase agreement with Singapore-based step-down arm Universal MEP.
IndiaMART InterMESH: The company reappointed Dinesh Chandra Agarwal as MD and CEO for five years, effective Jan. 8, 2025
Accenture Earnings -
Minor tweak on topline guidance - means no further deterioration
Bookings-to-revenue conversion gradually improving - positive for all Indian IT
Consulting to return to growth in Q4 - positive for Wipro
Telecom Subs Data April 2024
Total active subs base was flat - lowest since November 2023 and vs 6m avg growth of 2 mn
#Airtel witnessed a material decline of 2.1 mn
#VodafoneIdea also lost 0.6 mn - gained 2G subs and lost 1.3 mn data subs
#Jio added 3 mn
MS on Suzlon
OW, TP Rs 58.5
Plant visit takeaways
Plant to date has produced ~12GW nacelle out of Suzlon's 20.7GW installed asset base.
The plant has capacity to produce 2.5GW of turbines per year (3 nacelle/day)
Nacelle & hub forms 65% of cost of equipment (ex of EPC and land)
Nomura on Firstsource
Neutral, TP Rs 200
Co notes that its senior leadership has both time- & performance-based stock incentives
Net debt of Rs 6bn in FY24 largely for WC requirement
M&A would primarily be focussed on capability building & not revenue accretion
CLSA on IT (Accenture
Lack of further decline in FY24 organic sales growth guidance is positive
Sharp increase in managed services order book
Huge focus on Gen AI across industry verticals
Significant divergence across industry vertical performance this qtr.
Nomura on IT
Accenture FY24E rev growth guidance tightened to +1.5% to +2.5% from +1.0 to +3.0%
Order booking strong driven by large projects
GenAI opportunity continues to mature
Deal wins robust driven by large cost takeout projects
Retain cautious stance & remain selective
CITI on Endurance Tech
Buy TP Rs 3000
Management meet takeaways
Multiple revenue growth drivers ahead —
Growth opportunity in ABS sub-segment
Co open to M&A given it has Rs5bn of net cash on b/s
Broader demand momentum in Europe remains sluggish
Bernstein on Zomato
Buy, TP Rs 230
Asset-light leading to ROIC growth; from 9% in FY25 to 35% in FY30 as IC intensity continues to moderate.
Macquarie on Siemens
Neutral, TP Rs 7000Believe current valuations capture medium-term prospects.
Notably, valuation discount to ABB India has narrowed
Macquarie on Consumer
Potential Govt stimuli upside risk to JUBI; remove from Asia Marquee sell list
Prefer HUL, Titan & APNT
Crop support price increase similar to earlier yrs
Focus now on budget in July
Acknowledge upside risk to SSS growth from potential stimuli
MOSL on DCB BK
Upgarde to Buy, TP Rs 175
Business growth steady; valuations reasonable
Loan growth to sustain at 19% CAGR after a blip in FY20-22
Current valuations at 0.7x FY26E ABV attractive
MOSL on PSUS
Preferred Ideas: SBI, Coal India, GAIL, HPCL, & Bank of Baroda.
Back with a vengeance!
Earnings momentum fueling outperformance!
Strong business narratives and growing order book driving a rerating
Healthy outlook to continue!
*Securities in F&O Ban For Trade Date 21-June-2024*
* BALRAMPUR
* BSOFT
* GNFC
* HAL
* HINDCOPPER
* INDUSTOWER
* PEL
YES Bank board to consider fundraising via debt securities on June 25 - CNBC TV18
Shares of YES Bank Ltd ended at ₹23.96, up by ₹0.14, or 0.59% on the BSE.
India is the 3rd-largest domestic airline market in the world, up from no. 5 position a decade ago.
Money Market Update: The Indian currency weakened 20 paise to close at an all-time low of 83.65 against the US dollar
Who’s Meeting Whom
Deepak Fertilizers And Petrochemicals: To meet analyst and Investors on June 27 ,28.
Container Corporation Of India: To meet analyst and Investors on June 25, 26.
Rhi Magnesita India: To meet analyst and Investors on June 24.
Computer Age Management Services: To meet analyst and Investors on June 28.
Chalet Hotels: To meet analysts and Investors on June 26.
Astral: To meet analyst and Investors on June 25,26.
VST Industries: To meet analyst and Investors on June 25.
Crompton Greaves Consumer Electricals: To meet analyst and Investors on June 27.
Trading Tweaks
Price Band revised from 20% to 10%: Fertilizers and Chemicals Travancore.
Ex/record Dividend: Supreme Industries, Torrent Pharma, Greenlam Industries, Tata Steel, Punjab National Bank, Cyient, Kansai Nerolac Paints, Concord Biotech, CARE Ratings, Bajaj Finance, Archean Chemical Industries, Bajaj Finserv, Bhansali Engineering Polymers.
Ex/record AGM: Supreme Industries, Wockhardt, Cyient, Punjab National Bank, Bhansali Engineering Polymers, Dwarikesh Sugar Industries.
Ex/record Bonus: Bharat Petroleum Corp., Hindustan Petroleum Corp.
Ex/record Stock Split: Premier Explosives.
Moved out short-term Framework: IFB Industries.
Insider Trades
Greenply Industries: Promoter Karuna Investment bought 15,750 shares on June 18.
Paisalo Digital: Promoter Equilibrated Venture Cflow bought 6.60 lakh shares between June 19 and 20.
Pledge Share Details
Omaxe: Promoter Guild Builders revoked a pledge for 6.85 lakh shares; Promoter Dream Home Developers (revised) revoked a pledge for 19.75 lakh shares; Promoter Rohtas Goel (revised) revoked a pledge for 12.14 lakh shares; Promoter Mohit Goel (revised) revoked a pledge for 15.33 lakh shares; and Promoter Jatin Goel (revised) revoked a pledge for 15.33 lakh shares.
Quick Heal Technologies: Promoter Anupama Kailash Katkar created a pledge for 34.5 lakh shares on June 14.
Stocks to Watch
Oil and Natural Gas Corp.: The company appointed Devendra Kumar as Chief Financial Officer and Key Managerial Personnel of the company with immediate effect.
GIC Housing Finance: The company has become aware of a malware attack affecting some of its end-user systems and isolated the affected systems from the network to stop its further impact.
Bank of Baroda: The company appointed Chayani Manoj Sundar as CFO effective tomorrow.
Voltas: The company executed a share purchase agreement with Singapore-based step-down arm Universal MEP.
IndiaMART InterMESH: The company reappointed Dinesh Chandra Agarwal as MD and CEO for five years, effective Jan. 8, 2025.
JM Financial: SEBI said that the company will continue to face restrictions on acting as lead manager for public debt issues until March 31, 2025.
Triveni Engineering And Industries: The company acquired an additional 36.34% stake in Sir Shadi Lal Enterprises for Rs 44.83 crore.
Amara Raja Energy And Mobility: The company invested Euro 20 million to raise a stake in Norway-based InoBat to 9.32%
Airtel closes gap with Jio in revenue market share
FY24 Q4 Adjusted gross revenue of the Telecom Industry - ₹58,200 crore, up 1.9% vs PQ, up 9.7% YOY
FY24 AGR - ₹234,600 crore, up 8% YOY
Telecom Revenue share in Q4FY24
Airtel share - 37.9%, up 0.35% vs PQ, up 1.39% YOY
Jio - 42.1%, up 0.03% vs PQ, up 0.49% YOY
Vodafone - 15.4%, down 0.4% vs PQ
AGR in Q4FY24
Airtel - ₹23,100 crore
Jio - ₹25,700 crore
Source - ET
Dow + 300
Nasdaq - 144
Dax + 171
Nikkei + 75
Hangseng - 198
Gift Nifty +2 (23600)
Dowfut - 11
Nasdaqfut + 27
Crude Oil 85.62
Dollar Index 105.28
Global Earnings | Accenture Q3 revenue at $16.47 bn vs est of $16.56 bn; these are the Q3 adj EPS and Q4 revenue updates
#TataSteel to close trading of stock from June 24 before earnings for prevention of insider trading.
#WaareeEnergies enters into agreement with Mahindra Susten, to supply advanced solar modules in Bikaner, #Rajasthan.
#AmaraRaja to acquire 4.5% stake in #InoBat, completing acquisition before July 31.
MOSL-Genset demand remains strong in 1QFY25
Expect both Cummins India (KKC) and Kirloskar Oil Engines (KOEL) to be ready with their CPCB 4+ product portfolio and have products in other nodes too
S&P BSE Sensex rejig today
Adani Ports to see inflow of $259 million
Wipro to see outflow of $170 million
Effective from June 24
Source: Nuvama Alternative Research
Aster DM (Block Deal)
FIi-Olympus Capital Asia to sell upto 10% stake worth Rs 1670cr (Complete Exit)
Price – Rs 331 – 7% discount to CMP
IT COMPANIES-INFOSYS, TCS, WIPRO ETC (+VE)
Accenture Results
Q3 FISCAL 2024 Results-Inline Numbers
AI related bookings better than estimates
Full year revenue guidance (lower end increased)
For the full year rojecting revenue growth from 1.5% -2.5%, narrowed from 1-3%
AMARA RAJA BATTERIES: Increases stake to 9.5% in European Battery Tech Company InoBat. Invests further 20mn Euros (Rs 180cr)
GULF OIL-ANALYST DAY: Core EBITDA margin profile is expected at >14%. Double-digit growth in the B2B segment. Targets garnering 10-12% market share Vs 6-8% currently
YES BANK LIMITED: Board Meeting to be held on 25-Jun-2024 to consider Fund raising via debt
RATNAVEER PRECISION (MKT CAP-Rs 700cr). To consider raising Rs 95cr via preference issue on June 28
RITCO LOGISTICS LIMITED: Board Meeting to be held on 25-Jun-2024 to consider and approve Fund raising
Dhanlaxmi Bank: Ajith Kumar K K has taken charge as Managing Director & CEO of Dhan!axmi Bank
GIC Housing Finance: Company has become aware of a malware attack affecting some of the Company’s end user systems. Have immediately isolated the affected systems from the network to stop its further impact. No operational disruption has been observed
Oil & Natural Gas Corporation Limited: Appointment of Mr Devendra Kumar as Chief Financial Officer of the company w.e.f. Jun 20, 2024. Board has approval for extension/revalidation of Letter of Comfort (LOC) to prospective banks/ investors for amount upto ₹5,400 cr
Indiabulls Real Estate Limited: Co has informed the Exchange that the name has been changed from Indiabulls Real Estate Limited to Equinox India Developments Limited
Clean Science and Technology: Invested 50 cr by way of rights issue in Clean Fino-Chem Limited, a wholly owned subsidiary of the Company
JSW Infra: Company has incorporated a wholly owned subsidiary namely JSW Port Logistics
Time techno: received FINAL APPROVAL from PESO for the manufacturing and supply of HIGH-PRESSURE TYPE-IV COMPOSITE CYLINDERS FOR HYDROGEN.
Indiabulls Real Estate: Porinju Veliyath promoter Equity Intelligence acquired 33lk shares (0.5%) worth Rs 50cr. BOFA Securities acquired 34.4lk shares (0.5%) worth Rs 52cr
Heubach Colorant (Small-cap in pigments, peer to Sudarshan Chemical). Quant Mutual Fund acquired 1.2lk shares (0.5%) worth Rs 5.4cr
ACTION FOR DAY:
HPCL to issue bonus shares in the ratio 1:2
BPCL to issue bonus shares in the ratio 1:1
Premier Explosives stock split from face value `10 to `2
FTSE, Sensex adjustment
Manufacturing PMI Data-India +Global
IPO ACTION:
Stanley IPO Opens-Price band 351-369, To Raise 537cr, Raises
DEE Piping Systems IPO Closes-Subscribed 9.4x on Day 2
Aasaan Loans IPO Closes-Subscribed 11.7x on Day 2
IGL (From Times of India):
To foray into rooftop solar, battery recycling
Move to help company achieve net zero targets
Proposal to be taken to board of directors shortly
Nuvama on Bikaji: nitiate Buy with TP of Rs 885. Capex largely incurred, rising asset utilisation shall propel its RoCE to 32% by FY27. Insatiable scope for savoury snacks, brand equity, favourable trends and expansion make it covetable.
JP MORGAN
Buy on any dips: Asian Paints, Tata Consumer, Jubilant Food, United Spirits
Key avoids – Nykaa, Adani Wilmar, Britannia, HONASA
On sidelines – Crompton Greaves Consumer, Colgate
Compounding earnings growth – Avenue Supermarts, Titan, Nestle, Pidilite, Havells
Attractive risk-reward – HUL, Godrej Consumer
Potential Turnaround – United Breweries, WESTLIFE, DEVYANI and SAPPHIRE are attractive long-term plays
Investec on Astral: Maintain Buy with TP of Rs 2370. Regulatory tailwinds to aid spread
Macquarie on Consumption: See upside risk to Jubilant; remove from Marquee Sell List. Also prefer HUL, Titan and Asian Paints
GS on Wires & Cables
Polycab: Maintain Buy; Hike TP to Rs 7,100 from Rs 6,360
KEI: Maintain Neutral; Hike TP to Rs 3,690 from Rs 3,330
Target price hike owing to rally in copper prices
Rally in copper to drive a revenue uptick

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