Market Highlights

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Get the latest Indian stock / share market highlights, BSE/NSE stock news, business research reports & details - updated daily by Money Times.

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June 14, 2024

• INSTL. INVESTORS EQUITY DERIVAT. TRADES AS ON : 13-06-2024 :
• FIIS F & O : RS. CRS. :
• TOTAL NET SELL : -69785
• INDEX FUT. : +2716
• INDEX OPT. : -71912
• STOCK FUT. : -300
• STOCK OPT. : -289
• SEC. IN F&O BAN FOR, 14 June, 2024 :
• 1. SUNTV 2. GMRINFRA 3. HINDCOPPER 4. INDIACEM 5. SAIL
• ADDITION : SUNTV
• DELETION : BALRAMCHIN
• INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 13-JUN-2024 :
• FIIS : SELL -3,033 (19,191-22,224)
• DIIS : SELL -554 (12,374-12,928)
• BSE SENSEX : +204 (76,811)
• NSE NIFTY : +76 (23,399)
• BSE MIDCAP. : +358 (45,522)
• BSE SMLCAP. : +446 (50,679)
• B. CRUDE : $ 82.78
• GOLD: $ 2,310=INR 72,700(10gr)
• SILVER : RS. 88,700 (kg)
• FOREX : RS. $ 83.55
• 7.10% GOI '34 : 6.9872% (100.7775)
• 7.18% GOI '33: 7.0385%(100.93)
• 7.18% GOI '37: 7.0412% (101.1650)
• News Headlines from Business News Agencies:
• Business Standard
• Goldman Sachs aims to double lending to wealthy private bank clients
• Indian ship recyclers' revenue likely to rise 15% this fiscal: CRISIL
• Market share of top 5 cement makers to rise to 55% by Mar 2025: ICRA
• Haldia Petrochemicals signs 10-yr pact with QatarEnergy for naphtha supply
• Wipro's AI adoption in existing projects up 140%: COO Sanjeev Jain
• Rajib Kumar Mishra ceases to be chairman of PFS after Sebi's order
• Allcargo Logistics arm partners with ShipBob for freight services
• WeWork India enters Tamil Nadu market with Olympia Cyberspace in Chennai
• No reduction in consumer market frauds despite regulatory changes: KPMG
• India has sufficient wheat stocks, no plans to change import duty: Govt
• Samsung partners with Paytm to integrate more services to its wallet
• Bring petroleum products, realty, and electricity under GST: CII President
• Economic Times
• Amazon adds $230 million in cloud credits to AI startups
• NCLT directs Byju’s to maintain status quo, halting $200 million rights issue
• Tesla expects to hike price of China-made cars in EU due to tariffs
• L&T secure 'large' offshore order from ONGC Ltd
• India Inc looking for credit to fund capex, corporate loan worth Rs 5 lakh cr in pipeline: SBI Chief
• India Energy Storage Alliance to bring 'white paper' on sustainable future including renewables
• Tech Mahindra arm Comviva strengthens leadership in Europe, North America
• Indian steel producers worry as weak domestic demand and Chinese dumping depress prices further
• India's May Palm oil imports jump 74 pc on rising demand
• Mutual funds buy 14 crore shares of Suzlon Energy in May
• Adani’s Aussie coal port gets A$500 million private credit loan
• Mint
• Apple Exports iPhones worth over ₹16,500 Crore from India in April-May
• TCPL to double capex this fiscal, expand into new categories
• Vodafone Idea board gives nod to ₹2,458-crore fundraising
• Mankind Pharma in talks with PE for consortium bid of Bharat Serums: Report
• Brookfield, Alterra Management launch climate fund to raise up to $5 bn
• General provident fund rate unchanged at 7.1% for Q2 2024
• Tata Motors' Punch and Nexon first EVs to receive 5-star Bharat NCAP ratings
• Global talent firm AIG announces JV with Creativeland Studios for India entry
• Drug pricing regulator seeks data to set price ceilings for formulations
• Southwest monsoon on time, heat waves check progress in east India: IMD
• OpenAI doubles annualised revenue to $3.4 billion, says report
• Gentari plans minority stake sale in C&I assets to raise about $400 million
• India Daybook – Stocks in News
• Tata Elxsi: Company partners with RedHat to work on 5G connected car using former's CVP platform TETHER. (Positive)
• Suven Pharma: Company signs definitive agreement to acquire 100% eq shrs in Hyderabad-based Sapala Organics. (Positive)
• Wipro: Company to launch on-premise GenAI solution with Hewlett Packard Enterprise. (Positive)
• MosChip Tech: MeitY approves Design Linked Incentive application for development of a smart energy meter IC for India & overseas markets (Positive)
• Atul Auto: Company Says Has Incorporated A New Subsidiary Company By Name Atulease Pvt Ltd, subsidiary Company Was Incorporated On June 12, 2024. (Positive)
• RITES: Company DMRC in accord for exploring O&M of metro rail systems (Positive)
• Electro steel Castings: Company to set up iron pipes plant in Odisha. (Positive)
• Shipping Corp: NITI Aayog gives in-principle approval for formation of wholly-owned subsidiary of Shipping Corp in GIFT City (Positive)
• Advaith Infratech: Company has received an order worth Rs. 27.87 Crores from GETCO (Positive)
• Thomas Cook: CRISIL Ratings has upgraded its outlook on the bank loan facilities and corporate credit rating. (Positive)
• JK TYRE: CARE Ratings has upgraded long term rating for bank facilities of the company to CARE AA- from CARE A+. (Positive)
• Signature Global: Company to buy 3.81 acre land in Gurugram (Positive)
• ICICI Lombard: May Premium up 22%, Market Share (Up To May 2024 YoY) +60 BPS (Positive)
• Go Digit: May Premium up 36%, Market Share (Up To May 2024 YoY) +11 BPS (Positive)
• Star Health: May Premium +16% (YoY), Premium Up To May +19% (YoY) (Positive)
• Brigade: Company expects its FY-25 residential launches to see an average pricing of ₹10,000/sqft. (Positive)
• Ambuja Cement: Company to acquire 100% stake in Penna Cement Industries for ₹10,422 crore (Positive)
• Havells: Company has announced plans to expand AC manufacturing capacities at Ghiloth and Sricity locations to 15 lakh units per year each (Positive)
• NALCO: Company has signed Pottangi Bauxite Mining Lease Deed with the Odisha government for 697.979 hectares (Positive)
• NBFC Companies: Sales of listed private non-financial companies registered a growth of 6.9% in the fourth quarter of 2023–24 compared to a 5.5% rise in the previous quarter (Positive)
• Dixon/Kaynes: Ministry of Electronics and Information Technology plans 100-Day Agenda to invest in Rs 30,000-cr electronic component scheme with capital subsidy (Positive)
• NITCO: Board approves monetization of immovable property in Mumbai and conveyance deed worth ₹232 cr with Runwal Construction (Positive)
• L&T FH: Morgan Stanley, Larsen & Toubro and Mirae AMC buy stake in L&T Finance (Positive)
• Dr Reddy’s Lab: LIC increases its stake in Dr Reddy’s from 4.95% to 5.01% (Neutral)
• Puravankara: Board approves raising funds up to ₹1,000 crore via QIP. (Neutral)
• Kalpataru Projects: Company raises Rs 300 crore through issuance of NCDs on private placement basis. (Neutral)
• Exxaro Tiles: Company to temporarily shut down unit 1 plant for 4 weeks from June 14 due to maintenance. (Neutral)
• SEPC: Company to consider fund-raising on June 19. (Neutral)
• Jaypee Infratech: Company will delist its equity shares after being acquired by Suraksha Realty. (Neutral)
• Pakka: Company approved Raising of Funds Upton Rupees 225 Cr via QIP. (Neutral)
• L&T FH: Bain Capital, Other Funds to sell 1530 cr worth shares, Deal is likely in block window since the discount is only 1% to market price (Neutral)
• NIACL: May Premium -1% (YoY), Market Share (Up To May 2024 YoY) -192 BPS (Neutral)
• Suzlon: Appoints Khaitan & Co. to conduct a review of its corporate governance practices, identify any gaps in the existing practices and ways to strengthen them (Neutral)
• Vodafone Idea: Company to pare debt by issuing preferential shares worth ₹2,458 crore to Nokia, Ericsson (Neutral)
• Beat The Street:
• Advait Infratech: Company has received 2 work orders worth 44 Crore
• Thomas Cook: CRISIL upgrades Rating Outlook to ‘Positive’ Reaffirms Company’s Ratings at CRISIL AA-/Positive & CRISIL A1+
• Suraksha Group infuses Rs 125 crore in Jaypee Infratech; to start construction work in stalled projects. Earlier this month, the Mumbai-based Suraksha Group took control of the Jaypee Infratech Ltd (JIL) by constituting a three-member board.
• ELECTROSTEEL CASTINGS: CO SAYS APPROVED THE PROPOSAL FOR SETTING UP A DUCTILE IRON PIPES & FITTINGS PLANT IN ODISHA AND FOR THE PURPOSE TO ACQUIRE APPROX. 500 ACRES OF LAND PARCEL WHICH WOULD RESULT IN INCREASE IN PRODUCTION CAPACITY OF DI PIPES AND FITTINGS OF THE UNIT IN PHASES
• BSE - TO CONDUCT LIVE TRADING SESSIONS FOR COMMODITY DERIVATIVES AND EGR FROM DISASTER RECOVERY SITE ON JUNE 17 || BSE -TO CONDUCT LIVE TRADING SESSIONS FOR ALL SEGMENTS FROM DISASTER RECOVERY SITE ON JUNE 18, 19
• NATIONAL ALUMINIUM CO: CO EXECUTED A MINING LEASE DEED WITH STATE GOVERNMENT OF ODISHA || MINING LEASE DEED OVER AN AREA OF 697.979 HECTARES FOR BAUXITE MINES IN POTTANGI TEHSIL, KORAPUT DISTRICT
• NATIONAL ALUMINIUM CO: CO SAYS BAUXITE MINES HAVE ANNUAL PRODUCTION CAPACITY OF 3.5M TONNES AND RESERVES ESTIMATED AT 111M TONNES || CO SAYS MINE IS EXPECTED TO BECOME OPERATIONAL SOON
• ZAGGLE PREPAID OCEAN SERVICES: CO SAYS IN PACT WITH SKYDO TECHNOLOGIES TO FACILITATE CROSS BORDER PAYMENTS FOR ZAGGLE CORPORATE CUSTOMERS
• NITCO: CO APPROVED MONETIZATION OF CO'S IMMOVABLE PROPERTY SITUATED AT KANJURMARG, MUMBAI || CO SAYS ENTER INTO CONVEYANCE DEED OR AGREEMENT WITH RUNWAL CONSTRUCTION FOR IMMOVABLE PROPERTY AT KANJURMARG, MUMBAI; DEAL FOR 2.32B RUPEES
• SRESTHA FINVEST: CO HAS ENTERED INTO FACILITY AGREEMENT WITH FELIX INDUSTRIES || CO SAYS AGREEMENT AIMED AT ADVANCING RENEWABLE ENERGY AND SUSTAINABILITY INITIATIVES
• SRESTHA FINVEST: CO SAYS AGREEMENT PAVES WAY FOR SRESTHA TOWARDS LENDING IN RENEWABLE ENERGY AND CLEAN WATER RELATED PROJECTS || SRESTHA WILL FUND 25M RUPEES FOR TARGETING ABOVE MISSION IN NEXT 1-2 YEARS
• WIPRO: CO TO TRANSFORM AUTOMOTIVE SOFTWARE DEVELOPMENT THROUGH SIEMENS COLLABORATION AND INTEGRATION WITH PAVE360 || CO SAYS THE COLLABORATION IS DESIGNED TO CHANGE THE WAY AUTOMOTIVE SOFTWARE IS DEVELOPED, TESTED, AND VALIDATED
• STERLITE TECHNOLOGIES: CO SAYS UNDER AGREEMENT FOR SUPPLY OF A TURNKEY SOLUTION TO DATA MANAGEMENT CENTRE, PRODUCT COMPONENT WAS SUPPLIED BY CO || CO SAYS DMC IS CLAIMING $2.7M AS DAMAGES FOR LOSSES INCURRED DUE TO DELAYS AND FAILURE TO PERFORM OBLIGATIONS UNDER AGREEMENT
• STERLITE TECHNOLOGIES: CO SAYS CO WILL DEFEND THIS CLAIM AND WILL ALSO RAISE COUNTERCLAIMS FOR OUTSTANDING AND OVERDUE PAYMENTS
• ASIAN ENERGY SERVICES: CO RECEIVES LETTER OF AWARD WORTH 377.1M RUPEES || LOA FOR 3D SEISMIC DATA ACQUISITION, PROCESSING SERVICES FOR SUNPETRO’S FIELDS/BLOCKS IN GUJARAT
• PIDILITE INDUSTRIES: CO SAYS PARGRO WILL BE ACQUIRED THROUGH CO'S UNIT BHIMAD COMMERCIAL || CO SAYS RBI HAS NOW GRANTED APPROVAL TO PARGRO FOR CHANGE IN SHAREHOLDING AND CHANGE IN BOARD COMPOSITION OF PARGRO
• HAVELLS INDIA: CO SAYS PLANNING TO EXPAND ITS EXISTING MANUFACTURING CAPACITIES OF AIR CONDITIONERS AT GHILOTH AND SRICITY LOCATIONS || EXPANSION IN ORDER TO CATER TO INCREASED DEMAND; TOTAL PROPOSED INVESTMENT FOR ABOVE CAPACITY ENHANCEMENTS WILL BE IN RANGE OF 500 - 600M RUPEES
• ATUL AUTO: CO SAYS HAS INCORPORATED A NEW SUBSIDIARY COMPANY BY NAME ATULEASE PVT LTD || CO SAYS SUBSIDIARY COMPANY WAS INCORPORATED ON JUNE 12, 2024
• "Expect to add around ₹500 cr - ₹1000 cr more orders this year" says Vikas Kothari of Om Infra
• "Expecting the deposit growth will improve gradually" says Sumeet Kariwala of Morgan Stanley
• Consolidation will drive cement stocks higher this year' says Rakesh Arora of Go India Stocks
• Major blow to USD Hegemony!
• Saudi Arabia has refused to renew 50-yr Petrodollar agreement with the US.
• So now, Saudi is free to sell oil in multiple currencies, incl Euros, Yen, Yuan, Bharatiya Rupee etc.
• Major Blow to US!
• Henry Kissinger in 1974 had brokered a 50 yr deal with Saudi that oil trade would be dominated by USD. Saudi was indirectly blackmailed by USA to sign this agreement, promising in return support against Iran & other Radical nations. Pls note that US Dollar then had lost its credibility after Nixon "temporarily" suspended the Gold Standard in August 1971. By making USD a Petrodollar, US could make it Global Reserve Currency allowing it raise indiscriminate debts to Peddle its economic growth.
• Now....it neither has Gold Standard nor it is PetroDollar anymore, which will make it highly vulnerable making debts very costly & it won't even be able to print USD indiscriminately, as it has been doing till date.
• US economy to be in grave danger in coming days. The cracks have started developing.
• Household budgets in May saw no relief as food and beverage inflation remained at 7.87%.
• Arrowhead Seperation Engineering Ltd recieve an order worth Rs. 4.02 Crore .
• Asian Energy Services Ltd recieve an order worth Rs. 37.71 Crore from Sun Petrochemicals Private Limited.
• Senco Gold - Conformation of PE seller
• SAIF PARTNERS Sells 45L shares at Rs 960
• Buyers
• ACORN ICAV buys 6.33 L shares at Rs 960
• APAH CAPITAL MASTER FUNDbuys 5.22l shares at Rs 960
• MOTILAL OSWAL EQUITY OPPORTUNITIES FUND buys 3.96L shares at Rs 960
• SRESTHA FINVEST: CO HAS ENTERED INTO FACILITY AGREEMENT WITH FELIX INDUSTRIES || CO SAYS AGREEMENT AIMED AT ADVANCING RENEWABLE ENERGY AND SUSTAINABILITY INITIATIVES
• SRESTHA FINVEST: CO SAYS AGREEMENT PAVES WAY FOR SRESTHA TOWARDS LENDING IN RENEWABLE ENERGY AND CLEAN WATER RELATED PROJECTS || SRESTHA WILL FUND 25M RUPEES FOR TARGETING ABOVE MISSION IN NEXT 1-2 YEARS
• "Expect to add around ₹500 cr - ₹1000 cr more orders this year" says Vikas Kothari of Om Infra
• #Zaggle inked a strategic partnership with #Skydo Technologies Pvt Ltd
• #Techknowgreen Solutions Ltd has received a Work order amounting to ~₹2.07 Crore
• Asian Energy Services Ltd received LOA from Sun Petrochemicals Pvt Ltd for 3D Seismic Data Acquisition & Processing Services for Sunpetro’s fields/blocks in Gujarat. The value of LoA is ₹37.71 Crores.
• Arrowhead Separation Engineering Ltd received the contract for procurement of Agitators, Steel Belt Flaker, Carbazole Crusher, Tubular dryer system, spares of Rotary Tubular Dryer System, and supply of supervision service for steel belt flaker & crusher unit totaling to ~₹4.02 crore
• #Advait has bagged TWO major orders from Gujarat Energy Transmission Corporation Ltd (GETCO), worth ₹44.15 Crore
• #DCX Systems has received contracts/orders for ₹32.21 Cr from Domestic and Overseas Customers.
• #Wipro to Transform Automotive Software Development through Siemens Collaboration and Integration with PAVE360
• #Ambuja Cements Ltd acquires #Penna Cement Industries Ltd at enterprise value of ₹10,422 Cr
• #Cupid Ltd secures initial order from #Cipla Health
• #Subex to showcase its Revolutionary #AI Agents Offering at Digital Transformation World, Copenhagen
• #Wipro Launches On-Premise Gen AI Solution with Hewlett Packard Enterprise
• #RITES and #DMRC sign MoU for Exploring Consultancy and O&M of Metro Rail Systems
• L&T wins (₹2,500 to ₹5,000 Crores) offshore order from #ONGC
• #Aurionpro Payments receives #RBI’s final authorisation for online payment aggregator licence
• Kotak Life partners with Mahindra Finance to offer Life #Insurance to customers
• GPTINFRA Bags Order Valued at Rs 26 Crore
• Suven Pharmaceuticals Ltd has signed definitive agreements to acquire 100% equity shares in Sapala Organics Pvt Ltd
• #Signatureglobal through its wholly owned subsidiary Sternal Buildcon Pvt Ltd, has acquired a land near Dwarka Expressway
• #TRIL raised ~₹500 crore through a Qualified Institutional Placement (#QIP)
• Tata Motors' credit ratings got an upgrade
• NATIONAL ALUMINIUM: Execution Of Pottangi Bauxite Mining Lease Deed With The State Government Of Odisha.
• GLOBAL MARKET UPDATES
• • US Futures Lower, After Cash Market Ends Largely In The Green On Thursday
• • S&P Posts Record Close For 4th Stralght Session, Dow Ends WIth Minor Cuts
• • S&P & Nasdaq Are On Track To End The Week Higher
• • Adobe Soars More Than 16% In After-mkt Trade On Earnings Beat, Guldance
• • Chipmaker Broadcom Surges 12% As Demand For Al Chips Powers Forecast Ralse
• • US 10-yr YIeld Below 4.30%, After May PPI Data Sees An Unexpected Drop
• • European Mkts Close Lower, CAC & DAX Fall Nearly 2% While FTSE Slips Nearly 1%
• • Crude Prices Steady, As Investors Assess Latest Eco Data, Brent Above $82/bbl
• • Gold Prices Decline To $2,305.8/oz Over Cooler-than-expected PPI Data
• • Asian Mkts Lower In Early Trade Ahead Of BoJ Rate Decision, Hang Seng Down 1%
• • GIFT Nifty Flat, Indicates A Muted Start For The Indian Mkt
• Stocks in News post Market closure