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Market Highlights

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

June 20, 2023

  • *India Daybook – Stocks in News*
  • *HDFC:* Company divests stake in HDFC Credila to Baring PE & ChrysCapital for Rs 9,060 crore (Positive)
  • *Royal Orchid Hotels:* Company appoints Philip Logan as Chief Operating Officer (Positive)
  • *Sun Pharma:* Acne cream WINLEVI gets Health Canada approval (Positive)
  • *Bharat Agri:* Receives Commencement Certificate from Thane Municipal Corp for a residential project (Positive)
  • *FMCG Stocks:* India reduces basic import duty on refined soyabean, sunflower oils by 5% (Positive)
  • *ITI:* Company signs MoU with TCIL & CDOT to synergise R&D initiatives in telecommunications (Positive)
  • *HPCL:* Company bags long-term contract from OPaL to supply 13.53 trillion Btu of Natural Gas (Positive)
  • *InterGlobe Aviation:* The low-cost airline has placed an order for 500 Airbus A320 Family aircraft. (Positive)
  • *3i Infotech:* Bags An Order Worth Rs 42.6 Cr Fm Indian Pvt Sector Bank (Positive)
  • *Can Fin Homes:* Board approves raising funds up to Rs 4,000 cr via Debt instruments. (Neutral)
  • *Aurionpro:* Consider Fund Raising by way of Shares or Warrants. (Neutral)
  • *Shriram Finance:* TPG India Investments II Inc has sold its entire shareholding of 99.18 lakh shares (Neutral)
  • *Ami Organics:* High networth individual Girishkumar Limbabhai Chovatia has sold 3.6 lakh shares in the company (Neutral)
  • *Aether Industries:* Company launches QIP to raise Rs 750 cr, sets floor price at Rs 936/share (Neutral)
  • *Timken:* Holder to sell 63 lk shares in company worth $231 million at a floor price of Rs 3,000/share: Sources (Negative)
  • *HDFC AMC:* Abrdn to sell 2.18 cr shares (10.2% equity) in HDFC AMC via BlockDeals: Sources. (Negative)
  • *Tega Industries:* Promoters have offloaded a total of 4.1 percent stake in the company (Negative)
  • *News Headlines from Business News Agencies:*
  • *Business Standard*
  • • Review committee set to clear Rs 41,000 crore Nicobar Port project
  • • India exported smartphones worth Rs 12,000 cr in May
  • • Largest Indian order: Indigo likely to place an order for 500 planes
  • • Vande Bharat sleeper train plans hit a roadblock as RVNL wants higher stake
  • • Vedanta explores refinancing, brand monetisation for timely debt repayments
  • • HPCL to open vehicle service centres in India with Saudi Arabia's Petromin
  • • Airbnb, Ministry of Tourism tie up to promote heritage tourism in India
  • • Grasim, Lubrizol to begin work on Vilayat CPVC resin plant by end of 2023
  • • Reliance Industries resumes vessel operations at Sikka port in Gujarat
  • • Adani Transmission gets shareholders' nod to raise up to Rs 8,500 crore
  • • India seeks import duty relaxations for basmati rice in FTA with UK
  • *Economic Times*
  • • Mukka Proteins refiles DRHP to raise funds via IPO
  • • Kamdhenu Paints targets Rs 1,000 crore revenue by FY28: CMD Satish Agarwal
  • • Pharma major Lupin launches injection to cure thiamine deficiency in US
  • • As UK introduces DCTS, Indian goods worth $960 mn to lose concessional duty access
  • • MCA to intensify crackdown on shell firms
  • • Germany to sign agreement with Intel after chip plant talks
  • • Bank of England launches first sector-wide 'stress test'
  • • India gifts indigenously-built missile corvette 'INS Kirpan' to Vietnam
  • • J&K Bank launches mobile branches to offer services in remote areas of Ladakh
  • • Rajasthan govt announces Rs 13.48 crore aid for boosting religious tourism
  • • Envision Energy bags 350-MW wind energy project from Serentica Renewables
  • • Zee-Sony Merger: SAT to hear matter on June 26
  • *Mint*
  • • Tata Power eyes more state discom takeovers; plans to double capex in FY24
  • • India Planning To Impose A Carbon Tax On EU Imports | Report
  • • BPEA EQT set to acquire majority stake in HDFC Credila for ₹9,060 cr
  • • Improve rural income as a top priority, Sitharaman tells NABARD
  • • India, US close to settling seven trade issues out of court
  • • IndiGo  orders 500 jets in historic deal
  • • HDFC to sell 90% in Credila to Baring EQT, ChrysCapital for ₹9,060 crore
  • • SBI to incentivize green home loan takers
  • • KKR appoints Gaurav Trehan as Asia private equity head
  • • Sebi bars IIFL Sec to take new clients
  • • Sonowal launches new cruise service programme for domestic market of India by Costa Cruises
  • • TPG India Investments II sells entire stake in Shriram Finance for ₹1,390 cr
  • • BSES plans 50 lakh smart meters, contract next month
  • **Corporate Actions**
  • *Dividend*
  • *20-Jun-23*
  • BANKINDIA: Dividend - Rs. - 2.00
  • MOL: Final Dividend - Rs. - 1.40
  • NEWGEN: Final Dividend - Rs. - 5.00
  • CERA: Dividend - Rs. - 50.00
  • CEATLTD: Final Dividend - Rs. - 12.00
  • SAGCEM: Final Dividend - Rs. - 0.70
  • MFL: Final Dividend - Rs. - 2.50
  • *21-Jun-23*
  • PANCARBON: Dividend - Rs. - 12.00
  • SHREDIGCEM: Final Dividend - Rs. - 2.50
  • SUPREMEIND: Final Dividend - Rs. - 20.00
  • POLYCAB: Dividend - Rs. - 20.00
  • VIMTALABS: Final Dividend - Rs. - 2.00
  • OBEROIRLTY: Final Dividend - Rs. - 4.00
  • *22-Jun-23*
  • TATASTEEL: Final Dividend - Rs. - 3.60
  • SOLIMAC: Final Dividend - Rs. - 1.50
  • VTMLTD: Final Dividend - Rs. - 0.70
  • TATAELXSI: Dividend - Rs. - 60.60
  • RAINBOW: Final Dividend - Rs. - 3.00
  • EMUDHRA: Final Dividend - Rs. - 1.25
  • *23-Jun-23*
  • BNRSEC: Dividend - Rs. - 1.50
  • GHCL: Final Dividend - Rs. - 17.50
  • PLASTIBLEN: Final Dividend - Rs. - 4.00
  • DBOL: Dividend - Rs. - 3.50
  • SKYIND: Final Dividend - Rs. - 1.00
  • SKPSEC: Dividend - Rs. - 1.00
  • PNB: Dividend - Rs. - 0.65
  • DUTRON: Dividend - Rs. - 1.40
  • TORNTPHARM: Final Dividend - Rs. - 8.00
  • DALBHARAT: Final Dividend - Rs. - 5.00
  • RAYMOND: Final Dividend - Rs. - 3.00
  • MIL: Final Dividend - Rs. - 0.10
  • *26-Jun-23*
  • TAPARIA: Final Dividend - Rs. - 77.50
  • TATACOMM: Final Dividend - Rs. - 21.00
  • *IPO*
  • HMA Agro Industries: Open: 20-Jun-23; Close: 23-Jun-23
  • *Buyback*
  • --
  • *Bonus*
  • Blue Star: Bonus Issue 1:1; Ex-Date: 20-Jun-23
  • Indiamart Intermesh: Bonus Issue 1:1; Ex-Date: 21-Jun-23
  • Gulshan Polyols: Bonus Issue 1:5; Ex-Date: 21-Jun-23
  • Roto Pumps: Bonus Issue 1:1; Ex-Date: 07-Jul-23
  • *Stock Split*
  • AKI India: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 22-Jun-23
  • *Right Issue*
  • Udaipur Cement: Open: 21-Jun-23; Close: 05-Jul-23
  • *Forthcoming Event*
  • 20th June: Aaswa Trading, Aurionpro Solutions, Satin Creditcare Network, SecUR Credentials to consider Fund Raising
  • 21st June: Iris Clothings to consider Stock Split; Shish Industries to consider Bonus issue; Wardwizard Foods and Beverages, Shree Ram Proteins, Kalpataru Projects International, Aarey Drugs & Pharmaceuticals to consider Fund Raising
  • 22nd June: PNB Housing Finance, Swan Energy to consider Fund Raising
  • 23rd June: Avantel to consider Stock Split; Remedium Lifecare to consider Bonus issue & Stock Split Nirbhay Colours India to consider Fund Raising
  • 24th June: KSOLVES, RECLTD to consider Dividend
  • 27th June: Hindustan Aeronautics to consider Stock Split
  • 03rd July: Sunrise Efficient Marketing to consider Bonus issue
  • *Very Good Morning!!!*
  • *US Markets Shut...*
  • *Global Markets update...*
  • *SGXNifty: 18,826 (-49) (-0.26%)*
  • *Upcoming IPO:*
  • *IDEA FORGE*
  • 23 June Friday - Anchor
  • 26 June Monday - Issue Open
  • 29 June Thursday - Issue Closes
  • 6 July - Listing.
  • Issue Price around 750/-, last heard gmp 565-575…
  • *Public Issue of HMA Agro Industries Limited-Allocation to Anchor Investors*
  • Anchor List Attached
  • *Provisional Cash Rs. In Crs. (19th June)*
  • FIIs -795 (8,355 – 9,386)
  • DIIs -365 (6,412 – 6,777)
  • Sensex: 63,138 (-216) (-0.34%)
  • Nifty: 18,755 (-71) (-0.37%)
  • BankNifty: 43,634 (-304) (-0.69%)
  • NiftyIT: 28,708: +120: +0.42%
  • MIDCAP: 35,158: +14: +0.04%
  • Dow: 34,299 (-109) (-0.32%) : shut
  • S&P: 4,410 (-16) (-0.37%) : shit
  • Nas: 13,690 (-93) (-0.68%) : shut
  • Brazil: 119,858: +1,099: +0.96%
  • Ftse: 7,588 (-54) (-0.71%)
  • Dax: 16,201 (-156) (-0.96%)
  • Cac: 7,314 (-75) (-1.01%)
  • MOEX: 2,815: +14: +0.51%
  • WTI Oil: $71.29
  • Brnt: $76.09 (-0.68%)
  • Natural Gas: 2.66: +1.14%
  • Gold: $1,962 (-0.45%)
  • Silver: $24.13: +0.75%
  • Copper: $387 (-0.62%)
  • Cotton: $80.10: +0.63%
  • Copper (LME): $8,555 (-1) (-0.01%)
  • Alluminum (LME): $2,231: +18: +0.81%
  • Zinc (LM): $2,477 (-3) (-0.13%)
  • Tin (LME): $28,244 (-416) (-1.45%)
  • Eur-$: 1.0918 (-0.2%)
  • GBP-$: 1.2777 (-0.3%)
  • Jpy-$: 141.96
  • Re: 81.9425: +0.01%
  • USD-RUB: 83.98 (-0.08%)
  • US10yr: 3.76%: +1.21%
  • GIND10YR: 7.053: +0.27%
  • $ Index: 102.488: +0.24%
  • US Vix: 14.19: +4.8%
  • India Vix: 11.22: +3.51%
  • BalticDry: 1,076 (-18) (-1.65%)
  • ADR/GDR
  • Cogni: +0.53%: shut
  • Infy: +1.34%: shut
  • Wit (-0.64%) : shut
  • IciciBk (%): shut
  • HdfcBk: +2.86%: shut
  • DrRdy: +1.45%: shut
  • TatSt (-1.79%)
  • Axis (-0.84%)
  • SBI (-0.14%)
  • RIGD (-0.64%)
  • INDA: +0.28% (IShares MSCI INDIA ETF)
  • INDY: +0.16% (IShares MSCI INDIA 50 ETF)
  • EPI: +0.03% (Wisdom Tree India Earning)
  • PIN: +0.27% (Invesco India Etf)
  • Stock futures ticked lower on Monday evening as investors looked ahead to a holiday-shortened week of trading.
  • Futures tied to the Dow Jones Industrial Average slipped 65 points, or 0.2%%, while S&P 500 futures pulled back 0.1%. Nasdaq 100 futures
  • declined 0.15%.
  • Markets were closed for the regular trading session Monday due to the Juneteenth holiday.
  • Looking ahead, Fed Chair Jerome Powell will give his semi-annual report to Congress on Wednesday. Federal Reserve Bank of St. Louis President James Bullard and his counterparts in New York and Chicago are also among this week’s speakers.
  • Policymakers at the Fed kept interest rates unchanged at their latest meeting but warned of more tightening ahead. The decision last week came with forecasts for higher borrowing costs of 5.6% in 2023, implying two additional quarter-point rate hikes or one half-point increase before the end of the year.
  • New York Fed President John Williams will appear with Fed Vice Chair for Supervision Michael Barr at a corporate governance event in New York City on Tuesday. Fed Chair Powell is set to testify in front of Congress on Wednesday and Thursday.\
  • European markets fell at the start of the new trading week as investors remained jittery over the economic outlook.
  • Stocks fell Monday as concern about the global economy and the path of rates sapped the strength of a blistering second-quarter rally.
  • The Bank of England will announce its latest interest rate decision on Thursday, along with the Swiss National Bank.
  • The yield on 2-year U.K. government bonds, also known as gilts, hit a 15-year high Monday.
  • A decline of 1% in Europe’s main equity gauge swept up almost every industry. Among the biggest individual movers, Sartorius AG slumped 15% after issuing a bigger-than-expected profit warning. In Asia, disappointed hopes for further stimulus pushed down Chinese tech companies.
  • With the path of rates increasingly uncertain, traders are vacillating between the lure of the rally and concern it’s exhausted and that the market has become overbought.
  • Wall Street’s rally has now erased more than a year of Fed-induced losses, with stocks, volatility and the dollar shaking off the impact of 10 rate hikes. The S&P 500 index just capped a fifth straight week of gains and is now higher than it was the day the Federal Reserve kicked off its campaign.
  • “Markets are still pricing in a lower path of interest rates compared to the Federal Reserve’s dot plot,” said Janet Mui, head of market analysis at RBC Brewin Dolphin. “While we are close to peak rates, it is uncertain how long rates will stay high. Markets have a more dovish lens on that.”
  • Elsewhere, short-term borrowing costs in the UK climbed to 5% for the first time since the global financial crisis amid concern the troubling inflation outlook could lead to more aggressive monetary tightening from policymakers.
  • Chinese tech companies fell, with Alibaba Group Holding Ltd, JD.com Inc. and Baidu Inc. all tumbling more than 3% to drag the Hang Seng Tech index down as much as 2.9%.
  • Investors had been primed for China’s cabinet to possibly announce fresh stimulus after a meeting on Friday, but it stopped short of releasing any specific proposals. The lack of tangible evidence for support adds to worries over a slowing economy, unnerving investors who had bid up Chinese equities last week in the hope of a sweeping package.
  • The People's Bank of China takes center stage on Tuesday with a near-certain interest rate cut (for the first time in 10 months), according to the expectations of investors, who are also trying to read the political tea leaves from U.S. Secretary of State Antony Blinken's visit to Beijing.
  • The PBOC last week lowered short- and medium-term policy rates, paving the way for lower benchmark borrowing costs. Most poll participants expect the one-year loan prime rate to be cut by 10 basis points to 3.55%, and half said they forecast a deeper cut of at least 15 bps to the five-year LPR.
  • Chinese stocks on Monday posted their biggest fall in two weeks, but the weakness was not confined to China. The MSCI World index came off last week's 14-month high, Japan's Nikkei lost 1%, and Hong Kong tech and the MSCI Asia ex-Japan index both had their biggest falls in three weeks.
  • Trading volume across the region should pick up after U.S. markets were closed Monday for the Juneteenth holiday, and Malaysian trade, Japanese industrial output, and Hong Kong inflation data could all move asset prices in these countries.
  • China and the United States agreed on Monday to stabilize their intense rivalry so it does not veer into conflict, but failed to produce any major breakthrough during a rare visit to Beijing by U.S. Secretary of State Antony Blinken.
  • The top U.S. diplomat and Xi both stressed the importance of having a more stable relationship, as any conflict between the world's two largest economies would create global disruption.
  • *In geo-political news:*
  • China refused to entertain Washington's bid to resume military-to-military communication channels, citing U.S. sanctions as the obstacle. The two sides appeared entrenched in their positions over everything from Taiwan to trade, including U.S. actions toward China's chip industry, human rights and Russia's war against Ukraine.
  • U.S. President Joe Biden said later on Monday he thinks relations between the two countries are on the right path, and he indicated that progress was made during Blinken's trip.
  • At one of the most significant U.S.-China exchanges since Biden took office, it was not clear how the countries would overcome their differences. The sides agreed to continue diplomatic engagement with more visits in the coming weeks and months.
  • At a news conference concluding his two-day trip to Beijing, the first by a U.S. secretary of state since 2018, Blinken said Washington had achieved its objectives for the trip, including raising concerns directly, trying to set up channels for dialogue and exploring areas of cooperation. The trip was postponed in February after a suspected Chinese spy balloon flew through U.S. airspace.
  • Ukraine said on Monday it had driven Russian forces out of an eighth village in its two-week-old counteroffensive and a defence official vowed Kyiv's "biggest blow" lay ahead despite tough resistance from Moscow's troops.
  • President Volodymyr Zelenskiy said in his nightly video address that Kyiv's military was moving forward in some sectors and defending against intensified attacks in others. But the net outcome was favourable for Ukraine, he said.
  • *Key events this week:*
  • # US Juneteenth holiday, Monday
  • # China loan prime rates, Tuesday
  • # US housing starts, Tuesday
  • # Federal Reserve Bank of St. Louis President James Bullard speaks, Tuesday
  • # New York Fed President John Williams speaks, Tuesday
  • # Federal Reserve Chair Jerome Powell delivers semi-annual congressional testimony before the House Financial Services Committee, Wednesday
  • # Federal Reserve Bank of Chicago President Austan Goolsbee speaks, Wednesday
  • # Eurozone consumer confidence, Thursday
  • # Rate decisions in UK, Switzerland, Indonesia, Norway, Mexico, Philippines, Turkey, Thursday
  • # US Conference Board leading index, initial jobless claims, current account, existing home sales, Thursday
  • # Federal Reserve Chair Jerome Powell delivers semi-annual testimony to Congress before the Senate Banking Committee, Thursday
  • # Cleveland Fed’s Loretta Mester speaks, Thursday
  • # Eurozone S&P Global Eurozone Manufacturing PMI, S&P Global Eurozone Services PMI, Friday
  • # Japan CPI, Friday
  • # UK S&P Global / CIPS UK Manufacturing PMI, Friday
  • # US S&P Global Manufacturing PMI, Friday
  • # Federal Reserve Bank of St. Louis President James Bullard speaks, Friday
  • *Currencies*
  • # The Bloomberg Dollar Spot Index rose 0.2%
  • # The euro fell 0.2% to $1.0918
  • # The British pound fell 0.3% to $1.2777
  • # The Japanese yen was little changed at 141.96 per dollar
  • *Cryptocurrencies*
  • # Bitcoin rose 1% to $26,731.25
  • # Ether fell 0.3% to $1,724.38
  • *Bonds*
  • # The yield on 10-year Treasuries was little changed at 3.76%
  • # Germany’s 10-year yield advanced four basis points to 2.52%
  • # Britain’s 10-year yield advanced eight basis points to 4.49%
  • *Commodities*
  • # West Texas Intermediate crude fell 0.7% to $71.29 a barrel
  • # Gold futures fell 0.5% to $1,962.30 an ounce
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