Equity99

2024-05-30 06:00:52 Morning Alert..
* S&P raises India outlook to 'positive' ahead of Lok Sabha poll results*
In a rare move, S&P Global Ratings on Wednesday raised its outlook for India to ‘positive’ from ‘stable’ while affirming the lowest investment grade sovereign credit rating (BBB-) ahead of the general election results due on June 4. In a post on X, Union Finance Minister Nirmala Sitharaman said that S&P Global Ratings’ decision reflects the country’s solid growth performance and a promising economic outlook for the coming years. “It has been possible due to the series of macroeconomic reforms undertaken since 2014, along with substantial outlay for capex, fiscal discipline, and decisive & visionary leadership,” she said. This is the first outlook revision for the country by S&P, part of the so-called ‘Big Three’ credit ratings agencies, since September 2014. The other two ratings agencies, Fitch and Moody’s, have a ‘stable’ outlook for India with the lowest investment grade sovereign rating.

* Global market action*
Dow Jones – Down by 0.72% or 275.45 points
FTSE – Down by 0.86% or 71.11 points
CAC – Down by 1.52% or 122.77 points
DAX – Down by 1.10% or 204.58 points
Gift Nifty – Down by 0.32% or 73.00 points

*FII/DII activities*
FII – Sold 5841.84Cr worth of shares
DII – Bought 5233.79Cr worth of shares.

*Stocks with high delivery Percentage*
Schneider Electric Infra Ltd – 99.9%
One97 Communications Ltd – 99.3%
Whirlpool Of India Ltd – 90.2%
Westlife Foodworld Ltd – 88%
Cholamandalam Financial Holding Ltd – 86.7%

*Primary market activities*
IPOs opening today
Aimtron Electronics Ltd (NSE SME) – Issue size 87.02Cr
Associated Coaters (BSE SME) – Issue size 5.11Cr

Listing today
Awfis Space solutions Ltd (Main board) – Subscribed 108.17x

*Commodities updates*
Gold – Rs 74455/10gm, Silver – Rs 96197/kg, Brcrude – Rs 6626/barrel, Copper – Rs 899.7/kg.

*Corporate News*
Tata Steel Q4FY24 results: Net profit drops 64.1% to Rs 611.48 cr.

Reliance Retail's JioMart to deliver groceries in 30 mins from next month.

RBI imposes business restriction on Edelweiss group's EARCL, ECL Finance. Open / Comment

2024-05-29 06:00:41 Morning Alert..
* FPIs turn net debt buyers in May ahead of JP Morgan index inclusion*
In a turnaround from April’s selling spree, foreign investors are increasing their holdings in debt securities as the JP Morgan Index inclusion for Indian government bond approaches. In May so far, foreign portfolio investors (FPIs) have pumped Rs 7,427 crore into debt securities on a net basis, a significant shift from April when there was net selling of Rs 11,218 crore. “According to the schedule given by JP Morgan, the weighting will be increased by 1 per cent every month. So, passive investors will have to buy to reduce the tracking error of the index,” said Naveen Singh, vice-president of ICICI Securities’ primary dealership. In September 2023, JP Morgan had announced it would include government papers, issued by the Reserve Bank of India under the Fully Accessible Route, in its widely tracked GBI-EM. The inclusion process will start from June 28 and will be phased over a 10-month period, with a 1 per cent weighting included each month until March 31, 2025. Indian bonds will have a 10 per cent weighting, similar to China.

* Global market action*
Dow Jones – Down by 0.21% or 80.61 points
FTSE – Down by 0.76% or 63.41 points
CAC – Down by 0.92% or 74.69 points
DAX – Down by 0.52% or 96.84 points
Gift Nifty – Down by 0.42% or 96.50 points

*FII/DII activities*
FII – Bought 65.57Cr worth of shares
DII – Bought 3231.67Cr worth of shares.

*Stocks with high delivery Percentage*
Schneider Electric Infra Ltd – 100%
Cera Sanitaryware Ltd – 88.6%
VIP Industries Ltd – 87.5%
CE Info Systems Ltd – 86.4%
Global Health Ltd – 83.9%

*Primary market updates*
IPO opening today
Ztech India Ltd (NSE SME) – Issue size 37.30Cr

*Commodities updates*
Gold – Rs 74330/10gm, Silver – Rs 95335/kg, Brcrude – Rs 6635/barrel, Copper – Rs 902.05/kg.

*Corporate News*
Hindalco Industries looks to garner $945 million via Novelis US IPO.

Reliance signs deal with Russia's Rosneft to buy oil in roubles: Report.

ABFRL Q4 results: Net loss at Rs 266.35 crore, revenue at Rs 3,406.65 cr. Open / Comment

2024-05-28 05:57:31 Morning Alert..
* India may get Swedish PE major EQT boost with up to $5 bn funding*
Swedish private-equity major EQT is planning to invest up to $5 billion in India this year even as its arm EQT Private Capital Asia closed a new mid-market growth fund, which received a commitment of $1.6 billion from investors. EQT has not set deployment targets by geography for the new fund but expects India to be the largest market for the mid-market growth (MMG) fund. The fund has made four investments to date. Two have been in Indian companies. EQT manages assets worth $250 billion worldwide and has invested over $8 billion in more than 30 companies in India, including in HDFC Credila, Indium Software, Indira IVF, and O2 Power. With this, EQT joins the list of several global private-equity players that are making investment plans for India. Blackstone Group, which has invested $50 billion in India, plans to inject an additional $25 billion in the years ahead, with the primary focus on infrastructure, data centres, and logistics. New York-based KKR & Co, which has invested $11 billion in India so far, wants to invest $10 billion more.

* RBI to buy back government bonds worth Rs 40,000 crore on Thursday*
The Reserve Bank of India (RBI) on Monday announced it would buy back government bonds worth Rs 40,000 crore on Thursday. Bond market participants said the third buyback auction was expected to witness tepid demand as banks might refuse to sell bonds at a loss. Against the notified amount, banks could sell securities worth Rs 5,000 crore to Rs 10,000 crore to the government, they said. The RBI had offered to buy back the same securities in the previous auction, said V R C Reddy, head of treasury at Karur Vysya Bank. “The price at which banks bought these securities doesn’t change. So the participation will be low, unless they offer to give up 2-3 basis points (yield) from the market price,” Reddy said. Price and yield move inversely. The government has 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 FRB 2024 bond maturing on November 7, and the 9.15 per cent 2024 bond maturing on November 14.

* Global market action*
Dow Jones – Up by 0.02% or 5.98 points
FTSE – Down by 0.26% or 21.64 points
CAC – Up by 0.46% or 37.52 points
DAX – Up by 0.44% or 81.34 points
Gift Nifty – Down by 0.04% or 9.00 points

*FII/DII activities*
FII – Sold 541.22Cr worth of shares
DII – Bought 922.60Cr worth of shares.

*Stocks with high delivery Percentage*
Schneider Electric Infra Ltd – 98.9%
Westlife Foodwold Ltd – 93.6%
Gland Pharma Ltd – 90%
Sheela Foam Ltd – 88.3%
P&G Hygiene & Healthcare Ltd – 87.5%

*Primary market activities*
IPO opening today
Beacon Trusteeship Ltd (NSE SME) – Issue size 35.52Cr

*Commodities updates*
Gold – Rs 74205/10gm, Silver – Rs 94611/kg, Brcrude – Rs 6546/barrel, Copper – Rs 889.45/kg.

*Corporate News*
LIC Q4 results: Net profit rises 2.5%, dividend declared at Rs 6 per share.

Anil Agarwal's Vedanta considering $1 bn share sale in coming weeks.

HCLTech collaborates with Arm to develop custom silicon chips for AI. Open / Comment

2024-05-27 05:53:32 Morning Alert..
* India, Indonesia stand out for emerging market investors in ageing world*
Emerging markets such as India and Indonesia, whose populations are growing at a solid pace, stand to benefit as demographics begin to play a bigger role in investment decisions, according to Fidelity International and BlackRock Investment Institute. The investors are focusing on the two nations in emerging Asia, thanks in part to an expected boom in infrastructure spending, which in turn bodes well for the countries’ economies. Both India and Indonesia coincidentally had elections this year, showcasing to the world their ambition to transition into major economic powerhouses with their dynamic population a key strength. The two countries stand out at a time when rapid aging has plagued peers in the region, including China. India surpassed China as the world’s most populous nation in mid-2023, a historic milestone that unleashed a rush to identify potential winners in the South Asian nation’s stock market. BlackRock’s analysis shows a positive relationship between a country’s working-age population growth and share-price valuations, while Fidelity sees the financial sector as a key beneficiary as credit needs grow for both corporates and consumers.

* Global market action*
Dow Jones – Down by 0.15% or 60.45 points
FTSE – Down by 0.26% or 21.64 points
CAC – Down by 0.09% or 7.36 points
DAX – Up by 0.01% or 2.05 points
Gift Nifty – Down by 0.00% or 0.50 points

*FII/DII activities*
FII – Sold 944.83Cr worth of shares
DII – Bought 2320.32Cr worth of shares.

*Stocks with high delivery Percentage*
Schneider Electric Infra Ltd – 100%
P&G Hygiene & Healthcare Ltd – 92.4%
Chemplast Sanmar Ltd – 91.9%
Eris Lifesciences Ltd – 91%
CCL Products India Ltd – 89.2%

*Primary market activities*
IPO opening today
Vilas Transcore Ltd (NSE SME) – Issue size 95.26Cr

*Commodities updates*
Gold – Rs 76215/10gm, Silver – Rs 90540/kg, Brcrude – Rs 6469/barrel, Copper – Rs 883.9/kg.

*Corporate News*
Reliance Consumer Products to focus on beverages, Independence brand.

Adani Ent, Adani Energy Solutions to consider fundraising next week.

Noida-based Paytm General Insurance withdraws application with Irdai. Open / Comment

2024-05-24 06:05:22 Morning Alert..
*RBI's surplus transfer sparks hope for reduced govt borrowing by Rs 1 trn*
The Reserve Bank of India’s (RBI’s) record surplus transfer to the government has raised hopes among bond traders that the government might reduce its gross borrowing for the current financial year (2024-25/FY25) by up to Rs 1 trillion. The RBI approved a dividend of Rs 2.11 trillion for the central government for 2023-24, marking an increase of roughly 141 per cent from 2022-23 (FY23). In addition, the contingency risk buffer has been raised to 6.5 per cent from the previous 6 per cent. Consequently, the yield on the benchmark government bond fell below the psychologically crucial 7 per cent mark on Wednesday. The benchmark yield settled at 6.99 per cent, down from 7.04 per cent on Tuesday. The surplus transfer surpassed the Rs 1 trillion that most traders had anticipated. Last year, the RBI transferred Rs 87,416 crore to the government as its surplus. The Interim Budget for FY25 estimated the government’s income from the RBI and state-owned bank dividends at Rs 1.02 trillion.

*Road transport fleet operators' revenue to grow by 9-11% in FY25: CRISIL*
Despite tepid exports, the revenues of road transport fleet operators is likely to grow by 9-11 per cent in 2024-25 (FY25) on the back of better domestic demand, according to ratings agency CRISIL Ratings (Crisil). “The credit profile of operators should remain strong as well, as they may look to moderate capital expenditure (capex) towards fleet expansion, following strong additions in the past three fiscals, even as new guidelines for air-conditioned driver cabins kick in next fiscal. Providing support is also steady working capital,” the rating agency said on Thursday. The agency expects operating morgins of fleet operators to increase by 75-100 basis points (bps) in the ongoing fiscal year. Growth in road transport freight in FY25 will be driven by volume-intensive sectors like mining, industrial, manufacturing, infrastructure and engineering goods. As a result, Crisil pegs fleet utilisation to improve to over 85 per cent this fiscal from 82-83 per cent last fiscal. Crisil’s assessments are notwithstanding the potential impact on freight demand because of geopolitical uncertainties, changes in interest rates or sharp revision in domestic fuel prices.

* Global market action*
Dow Jones – Up by 0.07% or 28.12 points
FTSE – Down by 0.37% or 31.10 points
CAC – Up by 0.13% or 10.22 points
DAX – Up by 0.06% or 11.12 points
Gift Nifty – Down by 0.16% or 36.00 points

*FII/DII activities*
FII – Bought 4670.95Cr worth of shares
DII – Bought 146.51Cr worth of shares.

*Stocks with high delivery Percentage*
Craftsman Automation Ltd – 89.2%
Birla Corporation Ltd – 88%
VIP Industries Ltd – 87.3%
Prism Johnson Ltd – 87%
Suven Pharma Ltd – 86.8%

*Primary market activities*
IPO opening today
GSM Foils Ltd (NSE SME) – Issue size 11.01Cr

Listing today
Rulka Electricals Ltd (NSE SME) – Subscribed 676.83x
HOAC Foods India Ltd (NSE SME) – Subscribed 2013.64x

*Commodities updates*
Gold – Rs 76215/10gm, Silver – Rs 90305/kg, Brcrude – Rs 6398/barrel, Copper – Rs 889.60/kg.

*Corporate News*
US-based firm Taro's shareholders approve merger with Sun Pharmaceutical.

Adani Group mcap rises to Rs 17.5 trn, highest since Hindenburg incident.

Mamaearth Q4 results: Records highest-ever quarterly profit at Rs 30.5 cr. Open / Comment

2024-05-24 06:05:07 https://m.economictimes.com/markets/stocks/news/vodafone-idea-approves-rs-2075-crore-preferential-allotment-to-ab-group/articleshow/110300613.cms Open / Comment

2024-05-24 06:02:04 https://www.businesstoday.in/markets/company-stock/story/buy-vodafone-idea-70-80-upside-ahead-says-ubs-as-it-shares-price-target-for-vil-430705-2024-05-24 Open / Comment

2024-05-24 05:47:19 https://www.livemint.com/companies/company-results/adani-total-gas-q4-results-net-profit-rises-71-to-rs-168-crore-ebitda-up-47-yoy-11714485233079.html Open / Comment

2024-05-24 05:45:45 Open / Comment

2024-05-23 12:49:40 Flag pattern break out in ATGL

Look at the daily chart of the ADANI TOTAL GAS. Stock has given the flag pattern break out after strong consolidation. Now 900 will act as strong support levels while upper side 1000/1100/1250 will act as resistance levels. Open / Comment