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June 12, 2024

INSTL. INVESTORS EQUITY DERIVAT. TRADES AS ON : 11-06-2024 :
FIIS F & O : RS. CRS. :
TOTAL NET SELL : -25525
INDEX FUT. : +970
INDEX OPT. : -24372
STOCK FUT. : -2058
STOCK OPT. : -64
SEC. IN BAN FOR : 12 JUN, 2024 :
1. ZEEL 3. BALRAMCHIN 3. SAIL 4. INDIACEM 5. GMRINFRA 6. HINDCOPPER
ADDITION : GMRINFRA, HINDCOPPER
DELETION : NIL
INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 11-JUN-2024 :
FIIS : SELL -111 (15,527-15,638)
DIIS : BUY +3,193 (14,162-10,969)
BSE SENSEX : -33 (76,457)
NSE NIFTY : +06 (23,265)
BSE MIDCAP. : +327 (44,683)
BSE SMLCAP. : +468 (49,707)
B. CRUDE : $ 81.29
GOLD: $ 2,314=INR 72,800(10gr)
SILVER : RS. 88,500 (kg)
FOREX : RS. $ 83.58
7.10% GOI '34 : 7.0139% (100.59)
7.18% GOI '33: 7.0632%(100.7650)
7.18% GOI '37: 7.0687% (100.93)
News Headlines from Business News Agencies:
Business Standard
Ficci appoints Jyoti Vij as new director general with immediate effect
Steel demand expected to grow in range of 9-12% in FY25: Ind-Ra report
IBBI proposes reducing compliance burden, simplifying forms for RPs
Persistent Systems partners with Google Cloud to drive GenAI in key markets
Trade and industry bodies in Rajasthan call for creating solar energy hub
NCLAT asks ICICI to consider OTS proposal in Jaiprakash Associates case
Exports from special economic zones up 4% to $163.69 bn in 2023-24
Tata Motors planning to invest Rs 18,000 cr in EV division till FY30
Micro loans grow 27% in March quarter, stress levels inch up: Report
Daimler India names Muthu Maruthachalam as new chief of ops, logistics
India reports sixth strongest hiring outlook globally in Sept qtr: Survey
Economic Times
HCLTech, Germany's apoBank extend ties with $278-million deal
OPEC sticks to 2024 oil demand growth forecast, but trims Q1 view
PV sales up in low-digits as growth pace moderated in May: SIAM
Star Health & Allied Insurance plans 15% price hike for two products
India eyes oil deals with nations including Russia, minister says
Waaree Energies supplies 68 MW solar modules to Gensol Engineering
Tyre exports from India recorded at Rs 23,073 cr in FY24
Magenta Mobility joins hands with with Tata Motors, deploys 100 Ace EV
Tata Motors eyes 4-6% increase in passenger vehicle market share over the next 2 to 3 years
MyGate founder Vijay Arisetty joins Aurm as founder and CEO
FIDC urges RBI to relax draft guidelines on infrastructure provisioning
Mint
SBI says MSME loans will be focal point for growth over next 5 yrs
Berger Paints plans retail expansion to grow in south, west India markets: CEO
Ola Electric gets SEBI nod to launch ₹5,500 crore IPO: Report
VaynerMedia sets up full-service ad agency in Gurugram, lured by India's economy
Zomato to pump ₹300 crore more into quick commerce arm Blinkit
SBI to raise USD 3 billion through debt in FY2025
Warburg Pincus, Multiples PE enter final lap to acquire stake in Ebco
Private credit to real estate, UTI Alternatives embarks on a fundraising spree
Not just Air India, most airlines have a long-haul punctuality problem
India's semiconductor industry to face 300,000 professionals shortage by 2027
RBI rejects reappointment of RK Bansal as Edelweiss ARC chief
Kunvarji: India Daybook – Stocks in News
TVS Supply Chain Solutions: Company signs a new 5-year strategic contract with Daimler Truck South East Asia Pte Ltd, a Daimler Truck AG company, for ISCS service in Singapore (Positive)
Waaree Energies: Company supplies 68 megawatt solar modules to Gensol Engineering for a solar PV project. (Positive)
IOL Chemicals: Company received CEP certificate for Pantoprazole Sodium Sesquihydrate for alternative process (Process - II). (Positive)
Tube Investment: Company has entered into a ₹160-crore agreement with South Asia Growth Invest III LLC and South Asia EBT Trust III (Positive)
Raymond: Company aiming for more significant contribution from real estate and engineering divisions. (Positive)
B L Kashyap and Sons: Company gets two new orders aggregating to Rs 1,021 crore (Positive)
Indigo: Citigroup Global buys 31 lakh shares of Indigo for ₹1,362 crore. (Positive)
Railtel: Company eyes over 30% revenue growth and strong order inflow in FY25 (Positive)
HCL Tech: Company and Apobank in $278 mn partnership for 7.5 years. (Positive)
TCS: Company launches new IoT engineering lab in Ohio. (Positive)
Wipro: Company launches the Lab45 Artificial Intelligence (AI) Platform designed to increase Efficiencies & Transform Business Functions (Positive)
Oracle: Parent company Oracle reports strong bookings, Open AI partners with Parent company Oracle Cloud Infrastructure for hosting services (Positive)
Go Digit: Gross Written Premium at ₹ 2,336 cr vs ₹ 1,955 cr in Q4FY23, up 19.5%. (Positive)
Dollar Ind: To Open 50 Exclusive Brand Outlet across South India by 2027, Aims 50% Sales Growth in South India in 2024-25 (Positive)
ICICI Bank: NCLAT issues notice to ICICI Bank regarding Jai prakash Associates asking it to consider a one-time settlement. (Neutral)
LTI Mindtree: Company opens regional headquarters in Riyadh. (Neutral)
Biocon: Company has approved the appointment of Mr. Mukesh Kamath, Head - Business Finance R&D, as the Interim CFO (Neutral)
Tata Technologies: Company has deployed SAP S/4 HANA, for Mitsubishi Electric India Pvt. Ltd for digital transformation. (Neutral)
State Bank of India: Company board has approved raising up to $3 billion via debt in the current financial year.. (Neutral)
Kotak Mahindra Bank: SBI Mutual Fund has raised its stake in Kotak Mahindra Bank to over 5%, increasing stake to 5.01%. (Neutral)
Castrol India: Company board appoints Kedar Lele as MD for 5 years w.e.f. November 1. (Neutral)
Zomato: Apart from its 300 crore investment in Blinkit, Zomato will invest Rs 100 crore in its entertainment division. (Neutral)
Patanjali Foods: Company clarifies on report of Patanjali Ayurved’s non-food business to be merged with company. (Neutral)
PDS Limited: Co Says Bottom-line Profit Growth Expected To Be +15% in FY25, GMV Expected To Clock +20% Growth in FY25 (Neutral)
NHPC: Board of JV National High Power Test Laboratory (NHPTL) approves transfer of 1.31 cr NHPC shares to Power Grid. (Neutral)
IRB Infra: Ferrovial sells 5% stake in IRB for €214 million (Neutral)
Indigo: Rahul Bhatia's InterGlobe Enterprises divested a 2% stake in a low-cost airline for ₹3,367.30 crore. (Neutral)
GS on Cummins
Neutral, TP Rs 1940
Management meet takeaways
+ve on overall domestic demand
While real estate, railways, data centres & construction equipment should lead genset demand, potential price discovery for its competition(for CPCB IV +portfolio) could have impact on rev
Macquarie on Cummins
O-P, TP Rs 3975
Key focus areas have been impact of CPCB4+ transition, distribution & datacentre growth opportunity & exports softness.
Near term, key monitorable is impact of a full-fledged transition to CPCB IV+
GS on Thermax
Sell, TP Rs 2710
Management meet takeaways
+ve on demand outlook
Acknowledge that market is willing to look out much further than next 2 yrs & give higher multiple; however, since underlying technology is still in a nascent stage & constantly evolving, maintain sell
CITI On IndusInd BK
Buy, TP Rs 2010
Management meet takeaways
i) deposits to gather pace; estimates liability growth of 16-18%;
ii) NIMs guidance of 4.2-4.3%, favorably positioned when interest rate cycle turns;
iii) will contain slippages at <2.0% and credit cost at 1.1-1.3% - est 2.5%/4%/0.5% slippage in VF/MFI/corporate banking in the near term;
iv) Continue to invest into distribution, digital, human capital; C/I will remain elevated
CITI on Cement
FY24 realizations ranged from negative 6% to flattish for coverage companies despite 9% industry demand growth, suggesting market share priority over pricing
Think trend will likely continue as utilization levels remain below 80%, though cos may attempt price hikes
Pricing data suggests 1Q avg. realizations should be in range of -4% to +1% vs. 4QFY24
ULTC (EV/t $195) top pick.
Buy: ACC , Grasim, Shree & Dalmia
Neutral: Ambuja
Sell: Ramco, Nuvoco & JK Cement
MOSL On Cement
Est cement vol to grow 5-6% MoM in May’24, driven by housing & infrastructure segments.
Considering recent price hike, avg. price has been up 3% MoM in Jun’24.
UTCEM preferred large cap pick & like DALBHARA & JKCE in midcap space.
MS on HCL Tech
OW, TP Rs 1650
Announces Large Deal; est. contract value $278m over 7.5 yr (implying annual contract value of $37m)
Signifying two things
a) continuing large deal win momentum in financial services vertical
b) significant expansion of an existing client relationship
Jefferies on GMR Airports
Buy, TP Rs 100
Co filed new tariff application for DIAL, may be implemented by 4QFY25;
Mgmt focus on developing airport platform strategy, consolidating Non-aero businesses & reducing complexity
Focus on managing leverage in FY25
Beat The Street
TCS announced the launch of a new Internet of Things engineering lab in the #US to assist clients in developing #innovative solutions more efficiently
Tata Motors - Investor Day: To expand product portfolio to address 80% market
SEBI issued enquiry on HERITAGE FOOD insider trading trou political influence and circular issue to freeze at 5% lower circuit
Moderation in pace of expansion of economy mainly due to slowdown in investment from a high base.
Private consumption growth expected to benefit from recovery from agri production, declining inflation
India Daybook – Stocks in News*
*TVS Supply Chain Solutions:* Company signs a new 5-year strategic contract with Daimler Truck South East Asia Pte Ltd, a Daimler Truck AG company, for ISCS service in Singapore (Positive)
*Waaree Energies:* Company supplies 68 megawatt solar modules to Gensol Engineering for a solar PV project. (Positive)
*IOL Chemicals:* Company received CEP certificate for Pantoprazole Sodium Sesquihydrate for alternative process (Process - II). (Positive)
*Tube Investment:* Company has entered into a ₹160-crore agreement with South Asia Growth Invest III LLC and South Asia EBT Trust III (Positive)
*Raymond:* Company aiming for more significant contribution from real estate and engineering divisions. (Positive)
*B L Kashyap and Sons:* Company gets two new orders aggregating to Rs 1,021 crore (Positive)
*Indigo:* Citigroup Global buys 31 lakh shares of Indigo for ₹1,362 crore. (Positive)
*Railtel:* Company eyes over 30% revenue growth and strong order inflow in FY25 (Positive)
*HCL Tech:* Company and Apobank in $278 mn partnership for 7.5 years. (Positive)
*TCS:* Company launches new IoT engineering lab in Ohio. (Positive)
*Wipro:* Company launches the Lab45 Artificial Intelligence (AI) Platform designed to increase Efficiencies & Transform Business Functions (Positive)
*Oracle:* Parent company Oracle reports strong bookings, Open AI partners with Parent company Oracle Cloud Infrastructure for hosting services (Positive)
*Go Digit:* Gross Written Premium at ₹ 2,336 cr vs ₹ 1,955 cr in Q4FY23, up 19.5%. (Positive)
*Dollar Ind:* To Open 50 Exclusive Brand Outlet across South India by 2027, Aims 50% Sales Growth in South India in 2024-25 (Positive)
*ICICI Bank:* NCLAT issues notice to ICICI Bank regarding Jai prakash Associates asking it to consider a one-time settlement. (Neutral)
*LTI Mindtree:* Company opens regional headquarters in Riyadh. (Neutral)
*Biocon:* Company has approved the appointment of Mr. Mukesh Kamath, Head - Business Finance R&D, as the Interim CFO (Neutral)
*Tata Technologies:* Company has deployed SAP S/4 HANA, for Mitsubishi Electric India Pvt. Ltd for digital transformation. (Neutral)
*State Bank of India:* Company board has approved raising up to $3 billion via debt in the current financial year.. (Neutral)
*Kotak Mahindra Bank:* SBI Mutual Fund has raised its stake in Kotak Mahindra Bank to over 5%, increasing stake to 5.01%. (Neutral)
*Castrol India:* Company board appoints Kedar Lele as MD for 5 years w.e.f. November 1. (Neutral)
*Zomato:* Apart from its 300 crore investment in Blinkit, Zomato will invest Rs 100 crore in its entertainment division. (Neutral)
*Patanjali Foods:* Company clarifies on report of Patanjali Ayurved’s non-food business to be merged with company. (Neutral)
*PDS Limited:* Co Says Bottom-line Profit Growth Expected To Be +15% in FY25, GMV Expected To Clock +20% Growth in FY25 (Neutral)
*NHPC:* Board of JV National High Power Test Laboratory (NHPTL) approves transfer of 1.31 cr NHPC shares to Power Grid. (Neutral)
*IRB Infra:* Ferrovial sells 5% stake in IRB for €214 million (Neutral)
*Indigo:* Rahul Bhatia's InterGlobe Enterprises divested a 2% stake in a low-cost airline for ₹3,367.30 crore. (Neutral)
BULK DEAL AS ON 11-06-2024
ACE
-13 LK @ 1420.44 MONA AGARWAL
Ador Welding Limited
+1 LK @ 1255 QUANT MUTUAL FUND A/C QUANT PSU FUND
+2.79 LK @ 1255 QUANT MUTUAL FUND A/C QUANT MANUFACTURING FUND
-3.88 LK @ 1255.01 ASHISH RAMESHCHANDRA KACHOLIA
Almondz Global Securities
+2.93 LK @ 129.45 SUBHASH P RATHOD
Arman Fin Serv Ltd
+70 K @ 2299.89 PRUDENT EQUITY ACE FUND
HONASA
-32.42 LK @ 435.52 FIRESIDE VENTURES INVESTMENT FUND I
-32.42 LK @ 435.05 SOFINA VENTURES SA
INDIGO
-77.19 LK @ 4362.04 INTERGLOBE ENTERPRISES PRIVATE LIMITED
+31.23 LK @ 4361 CITIGROUP GLOBAL MARKETS MAURITIUS PRIVATE LIMITED
IRB Infrastructure Develo
-19.20 CRORE @ 63.61 CINTRA INR INVESTMENTS BV
OM INFRA LIMITED
+16.88 LK @ 130 QUANT MUTUAL FUND
-5.83 LK @ 130.02 OM KOTHARI FOUNDATION
Sakuma Exports Limited
-26.70 LK @ 29.15 SHUBHAM ASHOKBHAI PATEL
TCNS Clothing Co. Limited
+3.22 LK @ 550.05 RAJASTHAN GLOBAL SECURITIES PRIVATE LIMITED
-12 LK @ 550.14 TA FDI INVESTORS LIMITED
WARDINMOBI
-42.12 LK @ 72.51 WARDWIZARD SOLUTIONS INDIA PRIVATE LIMITED
221views
Money Market Update:
The Indian currency weakened by 7 paise to 83.57 against the US dollar
Securities in ban period:
Balrampurchini Mills,
GMR Infra,
Hindustan Copper,
India Cements,
SAIL,
Zee Entertainment Enterprises
Who’s Meeting Whom
CG Power and Industrial Solutions: To meet analysts and investors on June 13.
Star Health and Allied Insurance: To meet analysts and investors on June 14.
ASK Automotive: To meet analysts and investors on June 18.
Jindal Saw: To meet analysts and investors on June 14.
Container Corporation of India: To meet analysts and investors on June 18–20 and 26–28.
Data Patterns: To meet analysts and investors on June 21.
Pledge Details
Goodluck India: Promoter Anju Garg created a pledge for 1 lakh shares; Promoter Harsh Garg created a pledge for 68,000 shares; Promoter Mithlesh Garg created a pledge for 80,000 shares; Promoter Ram Agarwal created a pledge for 80,000 shares; Promoter Rekha Rani created a pledge for 1 lakh shares; and Promoter Shyam Agrawal created a pledge for 80,000 shares on June 10.
Trading Tweaks
Price Band revised from 10% to 5%: Andhra Cements, GTL Infrastructure.
Price Band revised from 20% to 10%: Essar Shipping, IFB Industries.
Ex/record Dividend: Tata Chemicals.
Insider Trades:
Mphasis: Promoter BCP Topco Ix sold 2.85 crore shares on June 10.
Lancer Container Lines: Promoter Abdul Khalik Abdul Kadar Chataiwala bought 1.16 lakh shares on June 10.
Advanced Enzyme Technologies: Promoter Advanced Vital Enzymes Private Limited sold 55,009 shares on June 7.
Sterling and Wilson Renewable Energy: Promoter Kainaz Khurshed Daruvala created a pledge for 2.8 lakh shares on June 7
Stocks to Watch:
HCL Technologies: The company signed a $278 million deal with Germany's largest cooperative primary bank, apoBank for 7.5 years.
TCS: The company launched a new IoT engineering lab in Ohio for manufacturing, energy, and consumer solutions.
B.L. Kashyap and Sons: The company secured two new orders aggregating to Rs 1,021 crore, approx. These include a construction order worth Rs 924 crore from DLF City and a civil construction order worth Rs 97 crore from Sattva Homes. The total order book as of date stands at Rs 3,545 crore.
Cipla: Patna Tax Office rules against the company on input tax credit. The company is to appeal to a higher authority on the input tax credit ruling.
Dollar Industries: The company recorded the highest-ever revenue in 2023–24. To open 50 exclusive brand outlets across South India by 2027. Aim for 50% sales growth in South India in 2024–25.
NHPC: The National High Power Test Laboratory approved the transfer of 1 crore shares from the company to Power Grid Corp. The company’s stake in NHPTL now stands at 12.5%, up from 20% earlier. NHPTL ceased to be an associate company of the company.
TVS Supply Chain Solutions: The company received a five-year contract with Daimler Truck AG for integrated supply chain solutions services in Singapore.
Castrol India: The board appointed Kedar Lele as MD for 5 years, effective Nov 1.
LTIMindtree: The company announced the inauguration of its regional headquarters in Saudi Arabia’s capital, Riyadh, as part of the expansion in KSA and the Middle East.
Patanjali Foods: The company has clarified that the Board has evaluated the initial proposal by Patanjali Ayurved for the sale of non-food businesses on April 26. A committee comprising an independent director, CEO and CFO is in the process of evaluating the proposal.
Wipro: The company introduced the Lab45 AI Platform, designed to increase efficiencies and transform business functions.
Dollar Industries Bullish About South India Market
Signs Superstar, Mahesh Babu, As Brand Ambassador
Records Highest Ever Revenue in 2023 - 24
To Open 50 Exclusive Brand Outlet Across South India By 2027
Aims 50% Sales Growth In South India In 2024 - 2
Waaree Energies supplies 68 megawatt solar modules to Gensol Engineering for a solar PV project. https://t.co/2D1cOBGtbZ
Gensol Engineering Receives 68 MW Solar Modules From Waaree Energies: Waaree Energies supplies 68 MW solar modules to Gensol Engineering for a solar PV project, including bi-facial modules.
Competition Commission of India approves acquisition of certain equity stake of TVS Certified Private Limited and TVS Vehicle Mobility Solution Private Limited by Mitsubishi Corporation
IOL Chemicals received CEP certificate for Pantoprazole Sodium Sesquihydrate for alternative process (Process - II) > Pantoprazole is used for heartburn, acid reflux and gastro-oesophageal reflux disease
Bajaj Auto in focus
Auto industry requests government to reduce GST on CNG and flex fuel two wheelers from 28% to 18% and eventually to 12%: Sources
Also, SIAM seeks removal of 3% cess on all two wheelers above 350cc.
CAMLIN FINE SCIENCES UNIT ENTERED INTO AN SHARE PURCHASE AGREEMENT TO ACQUIRE 100% STAKE IN VITAFOR INVEST NV, BELGIUM AND ITS UNITS
TRIDENT | TRIDENT HOME TEXTILES HAS MADE FURTHER INVESTMENT IN SUBSIDIARY TRIDENT GLOBAL B.V > 15000 ORDINARY SHARES OF TRIDENT GLOBAL B.V. ACQUIRED AT EURO 1 EACH PER SHARE
Markobenz Ventures Order Received for Chana Dal and Toovar Dal Worth Rs. 20 Crore.
Hindustan Aeronautics:
RBI - Export-Import Bank Of India Entered Into An Agreement With Government Of Co-Operative Republic Of Guyana
RBI - Agreement To Make Line Of Credit Of Usd 23.37 Mn For Procurement Of Two Hindustan 228-201 Aircraft From Hindustan Aeronautics
Jefferies on GMR Airports says, "GMR management met investors at JEF Indian Equities Access Day in New York"
CLSA on Vedanta indicated potential to generate profitability of US$1,350/t from its aluminium business
CLSA on Tata Motors maintains target price of Rs 1,181 with outperform rating
Goldman Sachs on Thermax says, "Positive on the demand outlook for the company"
Citi on IndusInd Bank maintains Buy with target price at Rs 2,010
"Not looking at any plans of becoming a bank or a small finance bank anytime soon" says Devesh Sachdev of Fusion Finance
Sakhti Sugar on Puri's Comment of 25% Ethanol Blending Target by FY25
"Will be announcing more projects in redevelopment and JV space," says Manan P. Shah of Man Infraconstruction
RELIANCE POWER: CO FACES RUPEES 3901.59 CR CLAIM BY CFM ASSET RECONSTRUCTION OVER CORPORATE GUARANTEES FOR UNIT, CO HAS PROPOSED A ONE-TIME SETTLEMENT TO CFM AND WILL TAKE ALL APPROPRIATE STEPS

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