Equity99

2024-06-07 06:01:13 Morning Alert..
*RBI buys back Rs 7,287 crore bonds against notified Rs 30,000 crore*
The Reserve Bank of India (RBI) repurchased Rs 7,287 crore worth of government bonds on Thursday, against the notified amount of Rs 30,000 crore. The central bank received bids worth Rs 8,631 crore at the auction. The government had offered to buy back the 7.35 per cent 2024 bond maturing on June 22, the 8.4 per cent 2024 bond maturing on July 28, the 6.18 per cent 2024 bond maturing on November 4, the FRB 2024 bond maturing on November 7, and the 9.15 per cent 2024 bond maturing on November 14. The RBI has repurchased a total of Rs 24,979 crore worth of securities in four auctions, against a total notified amount of Rs 1.7 trillion. By repurchasing its own outstanding bonds from the market before they mature, the government reduces its liabilities and strengthens its fiscal position. The process involves using government funds to buy back these bonds, which are then typically retired, decreasing the total outstanding debt. This strategy allows the government to improve its debt profile by repurchasing higher-cost or shorter-term bonds.

*India to sign IPEF agreements after formation of the new government*
India will sign the clean economy and fair economy agreements under the United States-led economic initiative—Indo-Pacific Economic Framework for Prosperity (IPEF)—after the formation of the new government. Barring India, the rest of the 13 member nations of IPEF signed the two agreements that aim to address 21st-century challenges and strengthen economic engagement across a critical region. While India actively participated in the signing proceedings and the ministerial deliberations, it did not formally sign these agreements as domestic approval processes are still underway, the Department of Commerce said in a statement on Thursday, adding that the approvals will take place once the new government takes over. These agreements will enter into force after at least five IPEF partners complete their internal legal procedures for ratification, acceptance, or approval. IPEF has four pillars: trade, supply chain resilience, clean economy, and fair economy (tax and anti-corruption). While India, along with other countries, has already signed the supply chain resilience pillar, India has decided not to join the trade pillar.

*Global market action*
Dow Jones – Up by 0.11% or 42.52 points
FTSE – Up by 0.47% or 38.39 points
CAC – Up by 0.42% or 33.55 points
DAX – Up by 0.41% or 76.73 points
Gift Nifty – Up by 0.02% or 4.00 points

*FII/DII activities*
FII – Sold 6867.72 Cr worth of shares
DII – Bought 3718.38 Cr worth of shares.

*Stocks with high delivery Percentage*
Elgi Equipments Ltd – 93.7%
PB Fintech Ltd – 92.4%
TTK Prestige Ltd – 90%
Anupam Rasayan India Ltd – 89.3%
Ratnamani Metals & Tubes Ltd – 88.6%

*Primary market activities*
Listing today
TBI Corn Ltd (NSE SME) – Subscribed 231.21x

*Commodities updates*
Gold – Rs 74350/10gm, Silver – Rs 93823/kg, Brcrude – Rs 6326/barrel, Copper – Rs 882.2/kg.

*Corporate News*
ITC shareholders clear hotel business demerger with 99.6% majority.

Zee's board gives in-principle approval to raise funds up to Rs 2,000 crore.

Wipro bags $500 million deal from US communication service provider. Open / Comment

2024-06-06 06:11:38 Morning Alert..
*Passing major reforms may prove difficult for next govt: Rating agencies*
Passing major and contentious reforms like land and labour could prove more difficult for the next Bharatiya Janata Party (BJP)-led coalition government, rating agencies, such as Fitch and Moody’s, said on Wednesday. They, however, said broad policy continuity may persist. Jeremy Zook, director and primary sovereign analyst for India at Fitch Ratings, said a weakened majority could pose challenges for the more ambitious elements of the government’s reform agenda, even as the strong medium-term growth outlook remains intact, underpinned by the government capex drive and improved corporate and bank balance sheets. “As the BJP fell short of an outright majority and will need to rely more heavily on its coalition partners, passing contentious reforms could prove more difficult, particularly around land and labour, which have recently been flagged as priorities by the BJP to boost India’s manufacturing competitiveness,” Zook said. The upsides to medium-term growth prospects are likely to be more modest if reforms prove more challenging to advance.

*Govt borrowing cut expectations fade as coalition govt takes shape*
The expectations of a borrowing cut by the government faded among bond-market participants after the general election results because they feel the compulsions of running a coalition may put pressure on the exchequer, according to dealers. The recent trend of moderate depreciation in the rupee’s nominal effective exchange rate (NEER) might not persist if there are significant changes to the structural reform agenda. While the Bharatiya Janata Party-led (BJP-led) National Democratic Alliance (NDA) was able to cross the majority mark, the BJP did not get a majority of its own. The BJP will need support from regional parties like the Telugu Desam Party and Janata Dal (United), which are demanding special packages for their states (Andhra Pradesh and Bihar) in exchange of their support at the Centre.

*Global market action*
Dow Jones – Down by 0.01% or 3.61 points
FTSE – Up by 0.18% or 14.91 points
CAC – Up by 0.87% or 68.67 points
DAX – Up by 0.93% or 170.30 points
Gift Nifty – Up by 0.75% or 169.00 points

*FII/DII activities*
FII – Sold 5656.26 Cr worth of shares
DII – Sold 4555.08 Cr worth of shares.

*Stocks with high delivery Percentage*
SW renewable Energy Ltd – 100%
Gland Pharma Ltd – 89.7%
Star Health & Allied Insurance Co Ltd – 89.2%
JB Chemicals & Pharma Ltd – 83.6%
Craftsman Automation Ltd – 82.4%

*Primary market activities*
Listing today
Aimtron Electronics Ltd (NSE SME) – Subscribed 99.24x
Associated Coaters Ltd (BSE SME) – Subscribed 371.14x

*Commodities updates*
Gold – Rs 74350/10gm, Silver – Rs 90568/kg, Brcrude – Rs 6196/barrel, Copper – Rs 869.80/kg.

*Corporate News*
Bharat Heavy Electricals Ltd has received an order from Adani Power Ltd for setting up the 2x800 MW TPP at Raipur, Chhattisgarh.

KP Green Engineering has bagged new orders from multiple clients amounting to Rs 351.35 crores.

UNO Minda has entered into a Technical License Agreement with Suzhou Inovance Automotive Co., Ltd., China for manufacture and sale of select high voltage category electric vehicle products for passenger vehicle and commercial vehicle in India. Open / Comment

2024-06-05 15:46:23 Fund Flow Activity:
05 June 2024 (Rs. In Crs)

Turnover: (NSE + BSE)

Cash Volume: 186799.85 + 21722.18 Total: 208522.03
F&O Volume: 647137.62 + 209167.88 Total: 856305.5

*Provisional Cash

FII/FPI: NET SELL: -5656.26
(21012.72 - 26668.98)
DII: NET BUY: +4555.08
(28615.23 - 24060.15) Open / Comment

2024-06-05 06:09:20 Morning Alert..
*Rupee, bond slump as ruling BJP fails to secure majority on its own*
The rupee and bonds slumped on Tuesday as the ruling Bharatiya Janata Party (BJP) did not manage to get a simple majority in the general elections — contrary to what the exit polls predicted. However, the BJP-led National Democratic Alliance (NDA) was able to cross the majority mark — including leads. This prompted the rupee to settle at Rs 83.53 versus the dollar, against Rs 83.14 on Monday. The local currency witnessed its worst fall since February 6, 2023. The Reserve Bank of India (RBI) intervened in the foreign exchange market through dollar sales. This protected the rupee from hitting the record low of Rs 83.57 per dollar, said market participants. The yield on the benchmark 10-year government bond settled at 7.04 per cent, against 7.94 per cent on Monday, witnessing the steepest single day rise in benchmark yield since October 6, 2023. The most traded 7.18 per cent 2033 bond settled at 7.11 per cent, against the previous close of 7 per cent.

* Global market action*
Dow Jones – Up by 0.18% or 68.92 points
FTSE – Down by 0.37% or 30.71 points
CAC – Down by 0.75% or 60.12 points
DAX – Down by 1.09% or 202.52 points
Gift Nifty – Up by 0.49% or 108.5 points

*FII/DII activities*
FII – Sold 12436.22 Cr worth of shares
DII – Sold 3318.98 Cr worth of shares.

*Stocks with high delivery Percentage*
Craftsman Automation Ltd – 81.7%
SW Renewable Energy Ltd – 79.6%
Sundaram Fasteners Ltd – 79.2%
Himadri Speciality chemicals Ltd – 77.9%
Cholamandalam Financial Holdings Ltd – 77.7%

*Primary market acivities*
IPOs opening today
Sattrix Information Security Ltd (BSE SME) – Issue size 21.78Cr
Magenta Lifecare Ltd (BSE SME) – Issue size 7Cr

Listing today
Ztech India Ltd (NSE SME) – Subscribed 371.39x

*Commodities updates*
Gold – Rs 74350/10gm, Silver – Rs 89630/kg, Brcrude – Rs 6173/barrel, Copper – Rs 863.3/kg.

*Corporate News*
PNB to float Canara HSBC Life Insurance IPO, will divest 10% stake.

Tata Motors Fin to merge with Tata Capital via NCLT scheme of arrangement.

RIL registers sub-lease deed for land to develop global economic hub. Open / Comment

2024-06-04 12:41:35 Sector Wise correction Open / Comment

2024-06-04 06:40:20 *News Headlines from Business News Agencies :*

*Business Standard :*

Tata Steel credit metrics to improve in FY25 on high demand: CreditSights

Nvidia G-Assist to bring in-game AI assistant to RTX AI-powered Windows PCs

Sebi introduces 'Saarthi 2.0' mobile app on personal finance for investors

Tech Mahindra subsidiary Comviva names Rajesh Chandiramani as CEO

Interest rates have peaked, moderation expected towards year-end: PNB MD

Nokia, Gati Shakti Vishwavidyalaya ink pact to partner on 5G, 6G research

Embassy REIT secures Rs 1,200 cr debt to acquire business park in Chennai

Global weather body predicts 60% chance of La Nia developing during Jul-Sep

Spotify raises US prices of its premium plans in bid to push margin

United Breweries eyes strong growth in the premium beer segment

HMSI sees 45% jump in May domestic sales; Bajaj Auto sales flat at 355,000

*Economic Times :*

Punjab National Bank, IIFCL sign pact for financing infra projects

Icra revises domestic steel demand growth rate to 10 pc for FY25

Bill Ackman's Pershing Square sells 10% stake to raise $1.05 billion

Climate tech firm Logic Ladder raises $2.5 million in funding from Big Capital, Rainmatter

Strong growth, lower fiscal deficit may lead to India rating upgrade: Deutsche Bank

ZEE to consider fundraising proposal via equity or other modes on June 6

Kronox Lab Sciences IPO booked 11x on strong demand from retail, NII investors

Manufacturing activity eases to a three-month low of 57.5 in May

Arm aims to capture 50% of PC market in five years, CEO says

Mirae Asset Mutual Fund files draft document with Sebi for Nifty EV & New Age Automotive ETF

Microsoft to invest $3.2 billion in Swedish cloud, AI


*Mint :*

India's drug regulator drafts norms to report adverse effects of vaccines

Navin Fluorine appoints Nitin Kulkarni as Managing Director for 5 years

Amber Enterprises may invest ₹2,000 cr to set up printed circuit board facility

In runup to Swiggy’s IPO, Baron marks up food-delivery firm’s value to $15.1 bn

Toyota Chairman Akio Toyoda apologizes, suspends 3 models amid test scandal

AMD unveils latest AI chips, accelerated chip update timeline

Have hired more data scientists than any other ad agency: Wavemaker India CEO

Temasek, Fidelity purchase Lenskart shares worth $200 mn in secondary deal

Air India to operate as merged entity from 2025; no Vistara brand by year-end

Etihad CEO says plans progressing for possible stock listing

HCL’s software products business falls short of profitability expectations Open / Comment

2024-06-04 05:51:21 Morning Alert..
*Bond, rupee strengthen as exit polls predict comfortable majority for NDA*
The rupee and government bonds on Monday strengthened following exit polls predicting a decisive victory for the incumbent Bharatiya Janata Party-led National Democratic Alliance (NDA) in the Lok Sabha elections. The 10-year benchmark government bond yield softened 6 basis points to settle at 6.94 per cent on Monday, the lowest since April 7, 2022. The rupee gave up some early gain after reaching a more than a two-month high during the day. The local currency appreciated to Rs 82.96 against the dollar in early trade, witnessing the highest intraday gain since December 15, 2023. The rupee settled at Rs 83.15 on Monday against Rs 83.47 a dollar on Friday. The Reserve Bank of India (RBI) intervened in the foreign exchange market to mop up dollars to contain volatility in the exchange rate, said market participants. “The RBI bought dollars at around Rs 83. It could have bought around $200 million,” said Anindya Banerjee, vice-president (currency derivatives and interest rate derivatives), Kotak Securities. “Tomorrow (Tuesday) the rupee is expected to appreciate more, and the RBI will have to intervene in the market,” he added.

*Heatwave drags manufacturing growth to three-month low in May: PMI data*
India’s manufacturing growth slowed to a three-month low in May as intensive heatwave hampered production volumes leading to a softer rise in new orders and output. But the sector remained in expansionary territory in May. The headline Purchasing Managers’ Index (PMI) figure, released by HSBC on Monday, slipped to 57.5 in May from 58.8 in April. “Companies indicated that working hours had been reduced amid an intensive heatwave, which somewhat hampered production volumes. New orders also rose at a softer pace, but international sales increased to the greatest extent in over 13 years,” said the survey. A figure above 50 in the index denotes expansion and that below signifies contraction. Despite this mild loss of growth momentum, India’s manufacturing sector remained firmly in expansion midway through the first fiscal quarter, as growth was supported by new business gains, demand strength and successful marketing efforts.

* Global market action*
Dow Jones – Down by 0.01% or 4.75 points
FTSE – Down by 0.15% or 12.63 points
CAC – Up by 0.06% or 5.15 points
DAX – Up by 0.60% or 110.22 points
Gift Nifty – Up by 0.13% or 31.5 points

*FII/DII activities*
FII – Bought 6850.76 Cr worth of shares
DII – Bought 1913.98 Cr worth of shares.

*Stocks with high delivery Percentage*
AIA Engineering Ltd – 95.3%
Cera Sanitaryware Ltd – 90.2%
Whirlpool of India Ltd – 89.5%
Cholamandalam Financial Holding Ltd – 87.4%
Star Health and Allied Insurance Company Ltd – 86.2%

*Primary market activities*
IPO opening today
3C IT Solutions & Telecoms (India) Ltd (BSE SME) – Issue size 11.44Cr

Listing today
Beacon Trusteeship Ltd (NSE SME) – Subscribed 465.20x

*Commodities updates*
Gold – Rs 74350/10gm, Silver – Rs 92045/kg, Brcrude – Rs 6176/barrel, Copper – Rs 880.70/kg.

*Corporate News*
ZEE Entertainment plans to raise funds through issue of shares, QIPs.

United Breweries eyes strong growth in the premium beer segment.

Shriram Finance raises $468 million multi-currency funds as social loans. Open / Comment

2024-06-03 19:29:05 https://www.business-standard.com/elections/lok-sabha-election/lok-sabha-elections-2024-exit-poll-viewers-beware-five-times-when-exit-polls-proved-to-be-really-wrong-124060100655_1.html Open / Comment

2024-06-03 15:25:03 *Closing Bell:*
• Sensex: 76468.78(+2,507.47)
• Nifty 50: 23263.90 (+733.20)
• Nifty bank: 50979.95 (+1,996.00)

*Nifty top 5 Gainers:*
• Adani Ports: 1,583.95 (+146.55)
• SBI: 905.65 (+75.30)
• Power Grid Corp: 337.65 (+27.65)
• NTPC: 391.80 (+32.80)
• Shriram Finance: 2,509.15 (+155.10)

*Nifty top 5 losers:*
• DRL: 5,783.30 (-8.55)
• LTIMindtree: 4,649.40 (-52.50)
• Divis Labs: 4,321.90 (-14.70)
• HCL Tech: 1,314.45 (-9.65)
• Eicher Motors: 4,670.85 (-62.60) Open / Comment

2024-06-03 11:38:53 Ready to Hit 45/45.58 Open / Comment