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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 08, 2023

*Instl. Investors EQUITY Cash Trades PROV. - 07/06/2023 : Rs. CRS. :*
*FIIS : BUY +1,383 (9,570-8,187)*
*DIIS : BUY +392 (5,931-5,539)*
*india Daybook – Stocks in News*
*Zydus Life:* Company gets USFDA approval for Tadalafil tablets (Positive)
*Nelco:* Company invests in Piscis Networks to bolster its portfolio of Satellite Communication Solutions (Positive)
*Lemon Tree Hotels:* Company signs licence agmt for a 60-room property in Rajamundry, Andhra Pradesh (Positive)
*Tata Elxsi:* Company launches InnovationHub & nearshore engineering centre in Troy, Michigan (Positive)
*Hatsun Agro:* Company to consider sale of its windmill division (Positive)
*Wipro:* Company & Cisco launches managed private 5G-as-a-Service solution (Positive)
*Allcargo Logistics:* Company’s arm Transindia Real Estate, to sell Jhajjar logistics park (Positive)
*Mazagon:* Thyssenkrupp, Mazagon intend to build submarine in India (Positive)
*Jindal Poly:* Company has entered into an agreement to acquire 100 percent shareholding in Netherlands-based firm JPF Netherlands Investment BV (Positive)
*Tech Mahindra:* Life Insurance Corporation of India has increased its stake in the IT services provider by 2.015 percent (Positive)
*Snowman Logistics:* Promoter Gateway Distriparks has acquired additional 11 lakh shares or 0.65 percent stake (Positive)
*Hero MotoCorp:* The company is gearing up to expand its electric two-wheeler range while upgrading its existing sales infrastructure (Positive)
*Titagarh Rail:* Board to consider raising funds via QIP/Rights Issue on June 10 (Positive)
*TCS:* Clocks its second lowest employee addition ever in FY23 (Neutral)
*Punjab & Sind Bank:* Board to consider raising upto Rs 750 cr via Bonds (Neutral)
*Sula Vineyards:* The wine producer has identified a new chief financial officer, who will come on board in August. (Neutral)
*Deepak Fertilisers:* Foreign portfolio investor Smallcap World Fund Inc has sold 23.54 lakh equity shares or 1.86 percent stake (Negative)
*D-Link:* Ace investor Ashish Kacholia has sold 1.94 lakh shares or 0.54 percent stake (Negative)
• India’s rate-setting panel, headed by RBI Governor Shaktikanta Das, will keep the benchmark interest rate unchanged at 6.50%, according Bloomberg survey
o RBI May Pause Again With Markets Watching for Stance Shift
• 10 am: RBI Bi-monthly Monetary Policy Statement for 2023-24 will be telecast live on the RBI’s YouTube channel
o RBI Benchmark Repurchase Rate Est. 6.50% (prior 6.50%)
o RBI Cash Reserve Ratio Est. 4.50% (prior 4.50%)
• 12 noon. Mumbai. RBI Governor Shaktikanta Das and deputy governors to hold a press conference after the policy announcement
• Thyssenkrupp Bids for $5.2 Billion Indian Submarine Contract
o Defense cooperation between Europe and India is deepening
• India Green Goal Opens $500 Billion Opportunity, ReNew CEO Says
• India To Continue $361M Plan for Coal, Lignite Exploration
• India Approves $10.8B Third Package to Revive State Telco BSNL
• India Raises Minimum Purchase Prices of Monsoon-Sown Crops
• India Monsoon Rains May Start in 48 Hours After Storm Delay
• Raw Sugar Rises as Traders Brace for Onset of India Monsoon
• Drug Safety Fears Spur Pentagon Plan to Test Widely Used Meds
• India Stocks Near Record Levels Ahead of Interest Rate Decision
• India’s May Demand for Oil Products Jumps Most in Six Months
• Global Funds Buy Net INR13.8b of Indian Stocks on June 7: NSE
o Domestic funds buy net 3.92b rupees of stocks
• India to have over 200 airports, Indian carriers to order up to 1,400 extra planes in next 5 years, Scindia: PTI
• Coal India (COAL): India To Continue $361M Plan for Coal, Lignite Exploration
• Jindal Poly Films (JDPF): To Buy JPF Netherlands Investment
• Life Insurance Corp. (LICI): Increases stake in Tech Mahindra to 8.884% from 6.869%
• Mazagon Dock (MAZDOCKS): Thyssenkrupp Bids for $5.2 Billion Indian Submarine Contract
• Punjab & Sind Bank (PJSB): To Considering Raising Inr7.5B Via Bonds
• Sun Pharma (SUNP): Drug Safety Fears Spur Pentagon Plan to Test Widely Used Meds
• Tata Elxsi (TELX): Opens Nearshore Engineering Centre in Troy, Michigan
o To Deliver Gaganyaan Crew Module Recovery Models
• Tech Mahindra (TECHM): LIC Increases Stake in Tech Mahindra to 8.88% from 6.86%
• Wipro (WPRO): Wipro, Cisco Launch Managed Private 5G-As-A-Service Solution
• Zydus Lifesciences (ZYDUSLIF): Gets U.S. FDA Approval for Generic of Adcirca Tablet
*SMIFS Institutional Desk*
*Stocks to Watch*
• *Bank Stocks:* To be in focus ahead of the Monetary Policy Committee decision on policy repo rate. MPC is likely to continue its status quo on the key lending rate at its second meeting in the new fiscal, amidst easing inflation and resilient growth.
• *Life Insurance Corp:* Company increased stake in Tech Mahindra by 2%, from 6.87% to 8.89%. The holding increased at an average cost of Rs 1,050.77.
• *Lemon Tree Hotels:* Company signed a license agreement for a 60-room property in Rajahmundry in Andhra Pradesh. The hotel is expected to be operational by the third quarter of fiscal 2025. Company’s unit Carnation Hotels will be operating this hotel.
• *Stove Kraft:* Chief Financial Officer Balaji A S has resigned from the company citing personal reasons. The company is in the process of hiring a professional for the position of chief financial officer.
• *Sula Vineyards:* Company said it has identified a new chief financial officer who will join the company in August. It has also added three new lakeside villas in Nasik, Maharashtra.
• *Gati:* Total volume, including surface and air express, rose 8% sequentially in May. It rose 1% from the year ago period. Company said volumes in May continued to show an improving trend owing to an uptick in preparations for the upcoming festive season starting in the last week of May. This is expected to continue over the coming months.
• *Aether Industries:* Company signed a Letter of Intent with U.S. based oil field services company for strategic supplier and contract manufacturing partnership. The letter specifies four strategic products that will be supplied to the global energy and oil and gas locations of the U.S. based company, including a significant supply within India.
• *Mazagon Dock Shipbuilders:* Company signed a memorandum of understanding with Thyssenkrupp Marine Systems for building submarines in and for India. Thyssenkrupp Marine Systems will contribute to the engineering and design of the submarines and provide consultancy support. Mazagon will take responsibility for constructing and delivering the respective submarines.
• *Titagarh Wagons:* The board will meet on Jun. 10 to consider, evaluate and approve the proposal to raise funds by issue equity of shares or other securities through preferential issue, qualified institutional placement, rights issue, or through any other permissible mode.
*Offerings: IKIO Lighting IPO Day-3*
• The demand for the initial public offering of LED lighting solution provider IKIO Lighting Ltd., was led by non-institutional investors on the second day of subscription. The IPO was subscribed 6.82 times on Wednesday. The portion of institutional investors was subscribed 1.37 times, non-institutional investors subscribed 15.99 times, while retail investors portion was subscribed 5.92 times. The IPO was fully subscribed on the first day. The three-day issue opened on June 6 and will continue till June 8.
*Who's Meeting Whom*
• *Can Fin Homes:* To meet investors and analysts on June 8.
• *Aptech:* To meet investors and analysts on June 8.
• *Aurobindo Pharma:* To meet investors and analysts on June 8.
• *Indo Count Industries:* To meet investors and analysts on June 8.
• *UltraTech Cement:* To meet investors and analysts on June 9.
• *Repco Home Finance:* To meet investors and analysts on June 12 and June 13.
• *Delhivery:* To meet investors and analysts on June 8.
• *Mallcom (India):* To meet investors and analysts on June 12.
• *Adani Transmission:* To meet investors and analysts on June 8.
• *Radico Khaitan:* To meet investors and analysts on June 8.
• *Adani Green Energy:* To meet investors and analysts on June 8 and June 21.
• *Uniparts India:* To meet investors and analysts on June 12.
• *Manorama Industries:* To meet investors and analysts on June 8.
*AGM*
• Home First Finance Co
*Trading Tweaks*
• *Price Band Revised From 20% To 5%:* NIIT
• *Price Band Revised From 20% To 10%:* Suzlon Energy
• *Ex-Date Dividend:* Bikaji Foods International
• *Ex-Date Annual General Meeting:* Bikaji Foods International, UCO Bank
• *Ex-Date Demerger:* NIIT Record-Date Demerger:* NIIT
• *Move Into Short-Term ASM Framework:* NRB Bearings, Suzlon Energy
• *Move Out of Short-Term ASM Framework:* Schneider Electric Infrastructure
*Bulk Deals*
• *EKI Energy Services:* Next Orbit Ventures Fund sold 2 lakh shares (0.73%) at Rs 492.35 apiece.
• *National Highways Infra Trust:* Neo Markets Services bought 30 lakh shares (0.41%) at Rs 118.75. Trust Investment Advisors sold 30 lakh shares (0.41%) at Rs 118.75 per share.
• *Praveg:* Sunita Paras Patel sold 2.16 lakh shares (1.03%) at Rs 500.27 apiece.
*Pledge Share Details*
• *Zuari Industries:* Promoter Chambal Fertilizers and Chemicals revoked a pledge of 10.8 lakh shares between June 2 and June 5 and created a pledge of 25,000 shares on June 5.
• *Aurobindo Pharma:* Promoter Group RPR Sons Advisors created a pledge of 1 lakh shares and revoked a pledge of 82.7 lakh shares between June 2 and June 6.
*Insider Trades*
• *LG Balakrishnan & Bros:* Promoter Nithin Karivardhan sold 4,000 shares on June 6.
• *Usha Martin:* Promoter Peterhouse Investments sold 1.5 lakh shares on June 6.
• *Zydus Wellness:* Promoter Zydus Family Trust bought 61,000 shares on June 6.
• *Praveg:* Promoter Sunita Paras Patel sold 65,000 shares on June 6.
• *Gati:* Promoter Group TCI Finance sold 25,000 shares on May 5.
• *IRB Infrastructure Developers:* Promoter Group Sudha Mhaiskar bought 5 lakh shares on June 5.
• *Pricol:* Promoter Group Pricol Engineering Industries bought 23,854 shares on June 5.
*Money Market Update*
• Rupee closed 0.07% lower against the U.S. dollar at Rs 82.55 on Wednesday, compared to Tuesday’s close of 82.61.
*F&O Cues*
• Nifty June futures ended at 18,800.20, a premium of 127.25 points.
• Nifty June futures rose 8.32% and 14,617 shares in Open Interest.
• Nifty Bank June futures ended at 44,389.60, a premium of 80.55 points.
• Nifty Bank June futures rose 1.39% and 1,280 shares in Open Interest.
• Securities added to the ban period: Indiabulls Housing Finance, India Cements, Manappuram Finance.
*Source: Bloomberg*
*Reserve Bank of India Policy Announcement: Repo Rate*
Current: 6.50%
Expected: 6.50%
Previous: 6.50%
(As expected, Reserve Bank has maintained status quo on Repo rates. Policy comments and Future guidance important for further outlook)

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