Share Market Highlights June 14, 2024: Sensex, Nifty hit fresh lifetime highs on buying in blue-chips HDFC Bank, Reliance

The rupee consolidated in a narrow range and settled 2 paise lower at 83.56 (provisional) against US dollar on Friday, as positive domestic markets and a decline in crude oil prices supported the rupee, while strong US Dollar and FII outflows capped sharp gains.

Forex traders said rupee was seen resilient against the dollar, on hawkish Federal Open Market Committee (FOMC) meeting and commentary by the Fed Chair.

Domestic brokerage Prabhudas Lilladher (PL) has predicted Nifty will reach 25,816 in the next 12 months. The firm has valued Nifty at a 15-year average PE (19.2x) with March 26 EPS of 1,344, and arrived at a 12-month target of 25,816 (25,810 based on 19x March 26 EPS of ₹1,358 earlier).

Nifty has demonstrated consolidation with a 4.4 per cent upmove over the past two months, despite market volatility during the elections.

India’s equity benchmarks BSE Sensex and NSE Nifty closed in green on Friday. While the Sensex gained 181.87 points, or 0.24%, to close at 76,992.77, while the broader Nifty50 advanced 66.70 points, or 0.29%, to 23,465.60, show provisional data on the exchanges.

A total of 3,971 stocks were actively traded, 2,181 advanced, while 1,664 declined and 129 stocks remained unchanged where 318 stocks hit a 52 week high and 12 stocks hit a 52 week low on the BSE.

Major gainers on the NSE at 3.20 pm include- Eicher motors (2.72%), Adani ports (2.27%), Mahindra and Mahindra (2.25%), Shri Ram finance (1.85%), Titan (1.69%).

Top losers include- Tech Mahindra (-1.26%), Wipro (-1.21%), tata consultancy services (-1.20%), HCl technologies (-1.01%), SBI Life insurance company (-0.87%)

Titagarh Rail Systems Ltd (TRSL) has commenced the production of trainsets for Bangalore Metro Rail Corporation Ltd’s (BMRCL) Phase 2 Yellow Line project, as part of a contract with China Railway Rolling Stock Corporation (CRRC).

BSE Sensex gained 193.83 pts or 0.25% to 77,004.73 and NSE Nifty rose 69.55 pts or 0.30% to 23,468.45.

In May 2024, the ​gross direct premium for all non-life insurance companies grew by 15%​ to ₹20,908 crore, compared with ₹18,198 crore in May 2023. Standalone health insurers outpaced the overall industry growth.

The board of EIH Associated Hotels has recommended the capitalisation of reserves by issuing bonus shares in a ratio of 1:1.

Kolte-Patil Developers Limited appointed Atul Bohra as Group CEO and Senior Management Personnel, effective June 14, 2024. The stock trades at ₹459 down 3.19% on the BSE.

Retina Paints Limited inaugurated its fifth franchise retail outlet in Medipally on June 10, 2024. The new outlet is now operational. The shares were up by 0.06% to ₹80 on the BSE.

Sparc Electrex Limited announced the launch of the new Hyundai Blower HB 700. The product is designed for cleaning applications in both industrial and household settings. The shares surged 8.37% to ₹16.70 on the BSE.

The stock of Life Insurance Corporation of India surged 5 per cent on Friday, a day after the corporation increased its shareholding in Dr Reddy’s Laboratories.

Swiss Military Consumer Goods Limited completed the acquisition of 1.21 acres of land and an 85,000 sq. ft. building in Sector 24, Faridabad, for ₹29.53 crore. The property will be used for a new manufacturing facility for luggage and travel gear. The transaction was finalized with Shree Pooja Overseas Private Limited. The stock trades at ₹25.82 down by 1.15% on the BSE.

Zydus Lifesciences Limited received tentative approval from the USFDA to market Azilsartan Medoxomil and Chlorthalidone Tablets, used for treating hypertension, in the U.S. The drug will be produced at their Ahmedabad SEZ - II facility. The tablets had annual sales of USD 77.9 million in the U.S. according to IQVIA MAT March 2024. The shares were up by 1.27% to Rs 1104 on the BSE

Benchmark indices traded flat after opening lower on Friday. BSE Sensex traded at 76,895.37, up by 84.47 points or 0.11 per cent as of 12.40 pm, and Nifty 50 traded at 23,435.55, up by 36.65 points or 0.16 per cent.

Sectoral indices, except IT and Media, traded in the positive territory. Nifty IT declined by 0.68 per cent to 34,663.70.

Meanwhile, Nifty Auto and Consumer Durables were up by over 1 per cent.

Bonds and stocks have delivered better returns than Bitcoin this quarter, raising the possibility that a crypto boom is running out of steam.

Gauges of global equities, fixed income and commodities are all ahead of the largest digital asset, which has shed about 5 per cent from the start of April through 1:15 p.m. on Friday in Singapore. Gold also showed the token a clean pair of heels.

Jindal Stainless board has approved the acquisition of the remaining 46 per cent stake in Chromeni Steels Private Limited (CSPL) for a cash consideration of ₹277.90 crore.

It includes a payment of ₹188.19 crore towards equity purchase and ₹89.71 crore towards CSPL’s debt.

CSPL will become a wholly-owned subsidiary of the company effective June 14, 2024, as per the stock exchange filing.

Geojit Financial Services

- PNB has been reporting a healthy performance, with earnings driven by steady revenue growth and controlled provisions. With a comfortable CD ratio, the bank is well positioned to grow its loan book with continued focus on high-yielding RAM segments. MCLR repricing and effective CD ratio management are expected to cushion margins against elevated funding costs.

- Asset quality continues to see a sharp improvement as recoveries and w-off continue to be healthy. PCR has thus improved to 88% and we estimate the net NPA ratio to improve further. SMA overdue (with loans over INR50m) remains under control at 0.15% of domestic loans, while the bank continues to guide for robust recoveries at ~2x of slippages. PNB expects the credit cost and slippages to be contained at <1% and projects RoA of 1% by FY25 end.

- With a strategic focus on strengthening its balance sheet and targeting a further reduction in the NNPA ratio to 0.5%, PNB is poised to sustain profitability and we estimate a 44% CAGR in earnings over FY24-26. We reiterate our Neutral rating with a TP of INR130 (premised on 1.1x FY26E ABV).

Higher prices of almost all products pushed producers’ inflation based on the Wholesale Price Index (WPI) to a 15-month high of 2.6 per cent in May, as against 1.3 per cent in April. This trend is contrary to retail inflation derived from the Consumer Price Index (CPI), which recorded a 12-month low of 4.75 per cent in May, as against 4.8 per cent in April.

“Positive rate of inflation in May 2024 is primarily due to increase in prices of food articles, manufacture of food products, crude petroleum & natural gas, mineral oils, other manufacturing etc,” a statement from the Commerce & Industry Ministry said. WPI is more important from an academic point of view and indicates output initial prices. All the policy decisions are based on CPI.

It seems the wait for Hyundai Motor India Limited’s (HMIL) initial public offering (IPO) is over. The company is scheduled to file its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) today.

Sources close to the development told Businessline that the company may file the DRHP late on Friday.

The country’s second-largest passenger vehicle maker has been gearing up for an IPO for months, and according to analysts, it is set to make a significant impact in the Indian financial market with its IPO.

RailTel Corporation of India Ltd. secured a work order from Tamil Nadu Fibrenet Corporation Limited worth ₹24.15 crore. The shares were up by 1.39% to ₹422 on the BSE.

Shares of Marine Electricals have hit a 52-week high on the NSE of ₹145 after the receipt of contracts worth ₹8.02 crore from Udupi Cochin Shipyard Ltd and Schneider Electric India Pvt Ltd.

Price band revised from 10% to 5%: Marine Electricals, Accuracy Shipping, OM Infra.

Ex/record Dividend: Sona BLW Precision Forgings, Bajaj Auto, BSE, Adani Energy Solutions, Adani Green Energy, Adani Power, Canara Bank, MM Forgings, L&T Technology Services, Bikaji Foods International, Xchanging Solutions, Elecon Engineering, VST Industries, Hindustan Unilever, Torrent Power, ACC, Adani Enterprises, Adani Ports and Special Economic Zone, Ambuja Cements, Adani Total Gas, Happiest Minds Technologies.

Ex/record stock split: Kamdhenu Ventures (1:5)

Moved into short-term framework: Associated Alcohols & Breweries, Dredging Corporation of India, Elecon Engineering Company, Hindustan Construction Company, Reliance Power, and SEPC.

Moved Out of short-term Framework: Allsec Technologies

Som Distilleries & Breweries: Promoter Deepak Arora bought 20,000 shares on June 12.

Action Construction Equipment: Promoter Mona Agarwal sold 13 lakh shares, and Promoter Sorab Agarwal sold 3 lakh shares on June 11.

Cantabil Retail: Promoter Deepak Bansal bought 1 lakh shares on June 10. 

Wardwizard Innovations & Mobility: Promoter Wardwizard Solutions India Promoter Wardwizard Solutions India sold 67.12 lakh shares on June 10, 11.

NSE Nifty was up by 0.15% or 36 points to 23,435, while the BSE Sensex was at 76,863 up by 0.07% or 52 points.

A total of 3,848 stocks were actively traded, 2,322 advanced, while 1,392 declined and 134 stocks remained unchanged where 280 stocks hit a 52 week high and 12 stocks hit a 52 week low on the BSE

Major gainers on the NSE include - Adani ports (2.59%), Mahindra and Mahindra (2.49%), Shri Ram finance (1.81%), Grasim industries (1.22%), Bajaj Auto (1.07%)

Major losers include- Tech Mahindra (-1.11%), HCl technologies (-1.10%), Wipro (-1.04%), Tata consultancy services (-0.9%), Dr Reddy laboratories (-0.58%)

Jindal Stainless Limited acquired the remaining 46% equity stake in Chromeni Steels Private Limited, making it a wholly owned subsidiary as of June 14, 2024. This follows JSL’s previous acquisition of a 54% stake in CSPL through Evergreat International Investment Pte Ltd, Singapore. The Board of Directors approved the acquisition, valued at approximately ₹277.90 crore. The shares were up by 0.50% to Rs 820 on the BSE.

Birla Corporation Limited entered into a Tripartite Agreement with KFin Technologies Limited as the new Registrar and Share Transfer Agent, replacing MCS Share Transfer Agent Limited. The shares were up by 2.50% to ₹1587 on the BSE.

Ahead of the presentation of the full Union Budget for fiscal year 2024-25, the Revenue Department has invited suggestions from trade and industry associations on changes in direct and indirect taxes. The suggestions can be submitted till June 17.

​The market share of the top five cement companies ​has increased sharply to 54 per cent as of last December, against 45 per cent logged in March 2015.

It is expected to further increase to 55 per cent by March 2025, resulting in consolidation in the cement industry, said ICRA in a statement on Thursday. The top five cement companies include ​UltraTech​, ​ACC​, ​Ambuja​, ​Shree Cement​ and ​Dalmia Bharat​.

Tata Elxsi announced its collaboration with Red Hat, a provider of enterprise open-source solutions to monetise applications and reduce operational expenditures through operations in 5G networks for Telcos and enterprises. The shares were up by 1.14% to Rs 7314 on the BSE.

Lupin Limited announced the completion of a U.S. FDA inspection at its Injectable facility in Nagpur. The inspection took place from June 10 to June 13, 2024. The shares were down by 1.15% to Rs 1603 on the BSE

Benchmark indices have declined after opening marginally up on Friday. BSE Sensex declined by 227.22 pts or 0.30 per cent at 76,583.68, and Nifty 50 was down 51.95 pts or 0.22 per cent at 23,346.95 as of 9.25 am.

Sectoral indices traded in a mix. Nifty IT declined by 0.70 per cent at 34,656.45, Nifty bank and private bank were down by 0.20 per cent at 49,747.75 and 24,642.85, respectively. Nifty realty was up 0.96 per cent at 1,130.70.

Lemon Tree Hotels launched its ninth property in Rajasthan with Keys Lite, Urban Square, Udaipur. The shares were up by 0.03% to ₹144.75 on the BSE.

Major gainers on the NSE include - Grasim industries (2.29%), Shri Ram finance (1.96%), Bharat Petroleum Corporation (1.36%), Hindustan Unilever (1.11%), Eicher Motors (0.67%)

Major losers include- Tech Mahindra (-1.36%), HCl technologies (-1.10%), Wipro (-1.05%), Jsw Steel (-1%), Bajaj Finserv (-0.91%)

A total of 3,179 stocks were actively traded, 1,871 advanced, while 1,191 declined and 117 stocks remained unchanged where 179 stocks hit a 52 week high and 8 stocks hit a 52 week low on the BSE.

Crude oil futures traded lower on Friday morning due to profit booking by traders after a good week. At 9.33 am on Friday, August Brent oil futures were at $82.33, down by 0.51 per cent, and July crude oil futures on WTI (West Texas Intermediate) were at $78.14, down by 0.61 per cent. June crude oil futures were trading at ₹6534 on Multi Commodity Exchange (MCX) during the initial hour of trading on Friday morning against the previous close of ₹6568, down by 0.52 per cent, and July futures were trading at ₹6520 against the previous close of ₹6550, down by 0.46 per cent.

Ambuja Cements’ recent acquisition announcement of Penna Cement has sparked varied reactions from leading brokerages. The move, aimed at expanding Ambuja’s regional footprint in South India, has drawn different assessments from analysts.

Macquarie has maintained a neutral stance on Ambuja, setting a target price (TP) of ₹608. They view the expansion positively, noting the deal’s value at $125 per tonne, which aligns with Ambuja’s growth ambitions.

Valuation and view: The Nifty 50 Index’s valuation at 19.7x FY25E and 17x FY26E is reasonable given the consensus earnings growth of 16% CAGR over FY23-FY26. Earnings growth is broad-based, providing better certainty. Over the last 12 months, midcap/small-cap indices have outperformed the Nifty 50 by 30/40% respectively, with some sectors particularly amongst industrials trading at a premium. Mean reversion is expected in these richly valued sectors. Overall, we don’t see much deviation in current policy construct and expect earnings momentum to continue.

Recommendation: Investors should invest based on their risk profile and may continue allocating via Systematic Investment Plans. We prefer large-cap oriented funds and hence any fresh allocations may be made in diversified funds like largecap, Flexicap and Multicap. Hybrid funds, given their flexibility in asset allocation could also be part of core portfolio. In thematic funds investor may prefer consumption fund for expected mass consumption recovery and BFSI fund given the decent risk-reward.

Macquarie

Neutral, TP Rs 608 

Expands regional footprint in South India 

Based on Penna’s existing capacity, deal value at $125/tn 

Expansion bodes well for its growth ambition 

CITI

Neutral, TP Rs 675 

Transaction +ve; suggests Co delivering on growth 

UBS

Sell, TP Rs 475 

Acquisition values assets at $125/t, though cost might fall to US$90/t 

To raise Ambuja’s production market share to c9% in AP/ Telangana 

MS

EW, TP Rs 665 

Incrementally +ve for industry & also Ambuja 

Jefferies

Buy, TP Rs 735 

Acquisition moves it to Top 3 players in South & reinforces its strong positioning as growing pan-India leader 

CLSA

Sell,TP Rs 575 

Calculate val of deal at $103/t vs replacement cost at $90-110/t

Buy, TP Raised to Rs 1650

Continues to outperform in FYTD24, despite weak start to year 

Such outperformance can continue for long, with a boost to margins. 

Essentially, ADSEZ is sitting on a capacity bank 5-6X of its existing capacity 

Key peers will have to add assets at higher capital cost to scale beyond 2X existing capacity 

Co has bought (& thus taken out) most existing non-major concessions available where significant capacity additions can happen

Sell, TP Rs 1525

Management reiterated its ambition of 

1) doubling data revenue to Rs280 bn by FY2027; 

2) reducing net debt/EBITDA to 2X (from 2.2X); 

3) improving RoCEs to 25%+ by FY2026 (from 19% in FY2024); 

4) getting back to 23-25% EBITDA margins by FY2027. 

Management expects bulk of incremental rev growth to be driven by digital portfolio 

Believe doubling data rev on existing portfolio would be a tall ask 

On Friday, Sensex and Nifty opened positively, with Sensex up by 81.11 points at 76,892.01 and Nifty gaining 21.40 points to 23,420.30. Analysts anticipate profit booking after recent gains and weak global sentiment. The market is awaiting the Union Budget presentation in July’s third week. Siddhartha Khemka of Motilal Oswal Financial Services remains optimistic, citing robust domestic macros and strong earnings expectations. However, focus is shifting to the broader market, with sustained buying in mid and small-cap stocks. Rajesh Bhosale of Angel One advises a stock-centric approach. Global stocks are mixed, with Asia-Pacific markets trading flat with a downward bias.

Silver prices fell on expectations that the Federal Reserve may only lower interest rates once this year, despite data showing a slowing in consumer price increases. The Federal Reserve, which kept interest rates constant, stated that inflation has slowed somewhat in recent months but remained too high. The central bank’s following statement suggested that while more participants expect to cut twice than once, no one expects to reduce more than twice. Joachim Nagel, a member of the European Central Bank’s Governing Council, has warned that consumer price growth in the eurozone is stubborn, and that he and his colleagues would not simply reduce borrowing costs.

Gold prices remained under pressure as the US Federal Reserve forecasted only one interest rate cut this year. Fed policymakers have put back the start of rate cuts until possibly December, meaning that they will only drop rates once this year, dashed hopes for two cuts and despite some progress in containing inflation. U.S. producer prices unexpectedly declined in May due to lower energy costs, showing that inflation has calmed after a surge in the first quarter. Gold Fields reduced its yearly output target after severe weather slowed the ramp-up at its new Salares Norte mine in Chile.

U.S. stocks closed mixed on Thursday, though the S&P 500 and Nasdaq Composite both recorded a fourth straight day of record closes. S&P 500 notched a fourth straight record — its 29th this year. 

US treasuries climbed, with 10-year yields breaking below 4.3% (to end at 4.24%). A $22 billion sale of US 30-year bonds saw strong demand.

The US producer price index unexpectedly dropped the most in seven months, adding to evidence that inflationary pressures are moderating. U.S. producer prices index dropped 0.2% last month after advancing by an unrevised 0.5% in April. In the 12 months through May, the PPI increased 2.2% after rising 2.3% in April.

Asian stocks fell, weighed by Japanese and Chinese shares, as markets awaited the outcome of the Bank of Japan’s two-day policy meeting. Economists polled by Reuters expect the BOJ will maintain its benchmark interest rate at 0%-0.1%, but Nikkei reported the central bank is considering reducing its holdings of Japanese government bonds.

Nifty extended its rally for the third consecutive session to close at its highest levels on June 13. At close, Nifty was up 0.33% or 75.9 points at 23398.9. Nifty made another new high at opening on June 13, gave up some of these gains and remained range bound through the day. The fact that the Nifty keeps making new highs every day is assuring, but it is not able to hold on to the entire gains. Nifty could stay in the 23297-23481 band in the near term.

- PNB has been reporting a healthy performance, with earnings driven by steady revenue growth and controlled provisions. With a comfortable CD ratio, the bank is well positioned to grow its loan book with continued focus on high-yielding RAM segments. MCLR repricing and effective CD ratio management are expected to cushion margins against elevated funding costs.

- Asset quality continues to see a sharp improvement as recoveries and w-off continue to be healthy. PCR has thus improved to 88% and we estimate the net NPA ratio to improve further. SMA overdue (with loans over INR50m) remains under control at 0.15% of domestic loans, while the bank continues to guide for robust recoveries at ~2x of slippages. PNB expects the credit cost and slippages to be contained at <1% and projects RoA of 1% by FY25 end.

- With a strategic focus on strengthening its balance sheet and targeting a further reduction in the NNPA ratio to 0.5%, PNB is poised to sustain profitability and we estimate a 44% CAGR in earnings over FY24-26. We reiterate our Neutral rating with a TP of INR130 (premised on 1.1x FY26E ABV).

Copper prices rebounded on Wednesday as cooler-than-expected U.S. inflation data fueled hopes for a Federal Reserve rate cut by September.

The dollar’s decline, following flat headline inflation, made dollar-priced metals more attractive. 

Despite copper hitting seven-week lows on Tuesday and retreating 11% from its May all-time high, traders anticipated a dovish Fed statement, boosting industrial metals. 

However, high inventory levels in Shanghai Futures Exchange warehouses suggest ongoing weak demand. 

Outlook: Copper prices are expected to remain buoyant, driven by optimism over potential Federal Reserve rate cuts and a weaker dollar.

Oil prices climbed on Wednesday, supported by ongoing Middle East tensions, but gains were tempered by the Federal Reserve’s indication that interest rate cuts may not begin until December.

Despite the Israel-Hamas conflict not yet impacting global oil supply, the perceived risk has driven up crude prices. 

Investors were disappointed by the Fed’s cautious stance on rate cuts, expecting only one small reduction this year to combat inflation. 

Additionally, the European Central Bank signaled a slow approach to rate cuts due to uncertain inflation prospects. 

Outlook: Crude prices are expected to remain elevated due to ongoing Middle East tensions and cautious sentiment from the Federal Reserve on future rate cuts. 

Gold prices edged higher on Wednesday despite paring gains, as the U.S. Federal Reserve indicated only one interest rate cut this year due to persistent inflation. 

The Fed held rates steady and projected a single rate cut in 2024. Fed Chair Jerome Powell described the inflation outlook as conservative and subject to change.

Better-than-expected consumer price index data, with flat headline figures and a 0.2% rise in core prices, was welcomed by officials.

Consequently, the likelihood of a rate cut in September dropped from 71% to 64% following the Fed’s decision.

Outlook: Gold prices are expected to remain steady as the market reacts to the Federal Reserve’s cautious inflation outlook and a slow approach to rate cut.

*The hopes for pre-election Federal Reserve easing were seemingly dashed again with last Friday’s employment data. The headline data was again above expectations though it is worth nothing that the government and healthcare sectors again accounted for a chunky 47% of the jobs generated.

The latest NFIB small business survey shows a re-acceleration in SMEs’ hiring intentions. This has been the indicator which has been signaling in recent months a weakening of the labour market given its historical correlation with unemployment.

The above is another example of how this cycle is different. It is also why it has long since become risky for investors to assume that the labour market is weakening in a material way until it actually happens. All this is why the moment has not yet arrived when the Fed is required to choose between its employment and its inflation mandates.

If the inflation data is somewhat encouraging for the Fed, the net result of the employment and inflation data points is that money markets are now expecting 47bp of Fed rate cuts this year, as opposed to 50bp before both sets of data were announced. Fed officials are now expecting just one 25bp rate cut this year, compared with 75bp of rate cuts anticipated in March.

On the inflation front, the May US CPI data came out yesterday below expectations. Headline CPI inflation slowed from 3.4% YoY in April to 3.3% YoY in May, while core CPI inflation declined from 3.6% YoY to 3.4% YoY. Services sector inflation remains sticky with core services CPI inflation unchanged at 5.3% YoY. The so-called “supercore” inflation, measured as core services CPI excluding housing, slowed from 4.9% YoY to 4.8% YoY.

Ashiana Housing: Varun Gupta, Director

Hoping For An Increase In Income Slabs & Home Loan Quantum In PMAY Scheme: Ashinana Housing

BLS International Services : Shikhar Aggarwal, Joint Managing Director

Revenue Growth Has Been A Little Tepid Due To Change In Partner Structure: BLS Intl Services

Cummins: Ajay Patil, CFO

Distribution Seg Has Grown At 20%+ In The Past, Hope To Maintain Growth Rate: Cummins India

OM Infra Ltd: Vikas Kothari, MD

Om Infra Stock: Debt Reduction Plan Of Company To Sustain Infra Push Momentum?

PG Electroplast: Vikas Gupta, ED MD

Company Is Looking At Revenue Of Rs 600 Cr For The TV Business: PG Electroplast Ltd

TVS SUPPLY CHAI: Ravi Viswanathan, MD

Expect 50-100 Bps Margin Improvement This Year: TVS Supply Chain Solutions

Brigade Ent: Pavitra Shankar, ED

Chennai & Hyderabad Mkts Will Contribute More To Residential Sales In Next 5 Years: Brigade Ent

Embassy Office : Aravind Maiya, CEO

It Has Been A Very Educational Journey But Its Still Early Days For REITs In India: Embassy REIT

Gopal Snacks: Mukesh Kumar Shah, Chief Financial Officer

Gopal Snacks: Growth Targets, Future Business Outlook, New Launches Soon?

India Shelter F: Rupinder Singh, MD & CEO

Affordable Housing Scheme Benefits End-Use Customer: India Shelter Finance Corporation

Events today…

Results today…

AICHAMP 

Audited Results 

EASTSILK 

Audited Results 

MAXHEIGHTS 

General;A.G.M.

ACC 

Final Dividend - Rs. - 7.5000

ADANIENT

Final Dividend - Rs. - 1.3000

ADANIPORTS 

Dividend - Rs. - 6.0000

AMBUJACEM 

Final Dividend - Rs. - 2.0000

ATGL 

Dividend - Rs. - 0.2500

BAJAJ-AUTO 

Dividend - Rs. - 80.0000

BIKAJI

Final Dividend - Rs. - 1.0000

CANBK 

Dividend - Rs. - 3.2200

CHEVIOT 

Final Dividend - Rs. - 5.0000

CHEVIOT

Buy Back of Shares 

EIMCOELECO

Dividend - Rs. - 5.0000

ELECON 

Final Dividend - Rs. - 2.0000

HAPPSTMNDS 

Final Dividend - Rs. - 3.2500

HINDUNILVR 

Final Dividend - Rs. - 24.0000

KAMOPAINTS 

Stock Split From Rs.5/- to Rs.1/-

LTTS 

Final Dividend - Rs. - 33.0000

MMFL 

Interim Dividend - Rs. - 8.0000

SAGARSOFT 

Dividend - Rs. - 2.0000

SONACOMS 

Final Dividend - Rs. - 1.5300

TORNTPOWER 

Final Dividend - Rs. - 4.0000

VISAKAIND 

Dividend - Rs. - 0.5000

VISCO

Stock Split From Rs.10/- to Rs.2/-

VSTIND 

Final Dividend - Rs. - 150.0000

XCHANGING 

Final Dividend - Rs. - 4.0000 

Nifty +6 pts (23403) from last trade 23397 ,* 

Nikkei -123 pts , 

Hangseng -85 pts , 

Now @6.52am . 

Dow -65.11 pts ,Nsdq +59.12 pts, S&P 

+12.71 pts , Bovespa -368 pts , Ftse -51 pts , Dax -365 pts , Cac -156 pts , Crude @ $77.79 brl (-0.83), Brent @ $82.75 brl (-0.00) , Gold @ 2317.30 (-0.70), Silver $28.975 (-0.09), Euro @ $1.0738, JPY @ $157.10, INR @ 83.542

ACC – Rs 7.50 

ADANI ENTERPRISES – Rs 1.30 

ADANI PORTS – Rs 6 

AMBUJA CEMENT – Rs 2 

ADANI TOTAL GAS – Rs 0.25 

BAJAJ AUTO – Rs 80 

CANARA BANK – Rs 3.22 

HUL – Rs 24 

LTTS – Rs 33 

VST INDUSTRIES – Rs 150

* GMRINFRA

* HINDCOPPER

* INDIACEM

* SAIL

* SUNTV

Oil prices fell on Friday but were on track for their first weekly gain in four weeks as markets assessed the impact of higher-for-longer U.S. interest rates versus solid outlooks for crude and fuel demand this year.

Brent crude futures were down 72 cents, or 0.87%, to $82.04 a barrel at 0100 GMT. West Texas Intermediate (WTI) U.S. crude futures lost 79 cents, or 1%, to trade at $77.84 a barrel, reversing small gains in the previous session. - Reuters

Interglobe Aviation Ltd.

SOCIETE GENERALE bought 5,21,183 @ Rs. 4,300.40

RITES

Co. signs MoU with Delhi Metro for Exploring Consultancy and O&M of Metro Rail System.

LIFE INSURANCE CORP: CO INCREASED ITS SHAREHOLDING IN DR. REDDY’S LABORATORIES FROM 4.95% TO 5.01%

STERLITE TECHNOLOGIES: CO SAYS UNDER AGREEMENT FOR SUPPLY OF A TURNKEY SOLUTION TO DATA MANAGEMENT CENTRE, PRODUCT COMPONENT WAS SUPPLIED BY CO || CO SAYS DMC IS CLAIMING $2.7M AS DAMAGES FOR LOSSES INCURRED DUE TO DELAYS AND FAILURE TO PERFORM OBLIGATIONS UNDER AGREEMENT

STERLITE TECHNOLOGIES: CO SAYS CO WILL DEFEND THIS CLAIM AND WILL ALSO RAISE COUNTERCLAIMS FOR OUTSTANDING AND OVERDUE PAYMENTS

NATIONAL ALUMINIUM CO: CO EXECUTED A MINING LEASE DEED WITH STATE GOVERNMENT OF ODISHA || MINING LEASE DEED OVER AN AREA OF 697.979 HECTARES FOR BAUXITE MINES IN POTTANGI TEHSIL, KORAPUT DISTRICT

NATIONAL ALUMINIUM CO: CO SAYS BAUXITE MINES HAVE ANNUAL PRODUCTION CAPACITY OF 3.5M TONNES AND RESERVES ESTIMATED AT 111M TONNES || CO SAYS MINE IS EXPECTED TO BECOME OPERATIONAL SOON

PIDILITE INDUSTRIES: CO SAYS PARGRO WILL BE ACQUIRED THROUGH CO’S UNIT BHIMAD COMMERCIAL || CO SAYS RBI HAS NOW GRANTED APPROVAL TO PARGRO FOR CHANGE IN SHAREHOLDING AND CHANGE IN BOARD COMPOSITION OF PARGRO

Srestha Finvest: Co has entered into facility agreement with Felix Industries. Co says agreement aimed at advancing renewable energy and sustainability initiatives. Srestha Finvest: Co says agreement paves way for Srestha towards lending in renewable energy and clean water related projects. Srestha will fund 25M rupees for targeting above mission in next 1-2 years.

“The key equity indices, the Sensex and the Nifty50, began trading at all-time highs on Thursday, followed by the good performance of global markets, boosted by a good U.S. inflation report, which raised anticipation of a likely interest rate cut by US Federal reserve. Technically, the index on a daily scale has formed a bearish belt hold pattern. As per this pattern, if the index sustains below 23,350, then profit booking is expected. On the downside, immediate support for the Nifty is placed near 23,000, followed by 22,720, where the 34-Days Exponential Moving Average (DEMA) support is placed.

The Bank Nifty index opened with a gap up but subsequently lost momentum and finally closed the day on a negative note at 49,847. Technically, the Bank Nifty on a daily scale has formed a bearish Marubozu candlestick pattern following the formation of a tri-star doji, indicating weakness. On the downside, immediate support for the index is placed near 49,000 levels, where the 21-DEMA is placed.”

Nifty opened with a gap up and moved down quickly, consolidating for the rest of the day to close at 23,399, up 76 points. The India VIX, closed 6.26% lower on Intraday basis and settled at 13.49. This was India VIX fourth consecutive fall.

The Foreign Portfolio Investors’ (FPIs) long short ratio jumped further to 41% on 12th June from 37% on 11th June as the FPIs remained resilient and continued to build significant long positions and continued covering their short positions in the Index futures.

Indian benchmark indices, Sensex and Nifty, are expected to open flattish to negative on Friday. After a couple of days of gains, analysts expect profit booking. Besides, weak global sentiment will also keep the market under control. Gift Nifty at 23,390 signals a downward bias for Nifty. The next big trigger would be the Budget presentation, likely in the third week of July.

Buzzing Stocks: Ambuja Cements, Suven Pharma, Havells India, Wipro, Asian Energy, , Puravankara, Signature Global, Suzlon, Butterfly Gandhimathi, Advait Infratech, Electrosteel Castings, Cupid, Zaggle, Nitco

📌 Market Levels

BSE Sensex: 76810.90 (+204.33)

Nifty 50: 23398.90 (+75.95)

NIFTY MID CAP 100: 54652.25 (+426.15)

NIFTY SMALL CAP 100: 17908.10 (+119.80)

📌 Index PE & PBV

SENSEX PE / PBV : 23.20 / 3.78

NIFTY 50 PE / PBV : 

22.25 / 4.06

NIFTY MIDCAP 100 PE / PBV : 40.92 / 4.90

NIFTY SMALLCAP 100 PE / PBV : 28.57 / 4.28

📌 Inflow/Outflow (Daily/MTD) 

FII / FPI Activity: (3033.00 crs) / (13863.45 Crs)

DII Activity: (553.88 crs) / 11216.33 crs

📌 Volatility Index

India VIX - 13.48

📌 Commodities

Brent Crude: $82.63

Gold USD Oz/10 gm: $2319.01 = INR 71600

Silver: INR 89118

📌 Currency

Rs/$: 83.55

US Dollar Index (DXY) - 104.87

📌 10 Year Yield

7.18% GOI 2033: 7.04% (Old)

7.10% GOI 2034: 6.99% (New)

US 10 Yr Yield - 4.27%

TENT JAPAN BOJ Policy Rate (Expected: 0.10% versus Previous: 0.10%)

TENT JAPAN BOJ Press Conference 

12:00 INDIA WPI Inflation y/y (Expected: 2.50% versus Previous: 1.26%)

19:30 U.S. Prelim UoM Consumer Sentiment (Expected: 72.1 versus Previous: 69.1)

19:30 U.S. Prelim UoM Inflation Expectations (Expected: - versus Previous: 3.3%)

17.06.2024: India Market Holiday. China Industrial Production and Retail Sales @ 07.30 am

To clear dues with network vendors, Nokia and Ericsson, Vodafone Idea announced on Thursday that it is going to allot them shares on a preferential basis. Vodafone Idea informed the exchanges on June 13 that its board has approved the issuance of about 166 crore shares at ₹14.80 per share to raise funds up to ₹2,458 crore on a preferential basis. 

The market regulator’s expansive definition of promoters for companies going public may put them in a bind over how to reward founders. Since promoters are ineligible to be granted employee stock option plans (ESOPs), the new-age firms may turn to alternatives such as phantom stock units, warrants and sweat equity to compensate founders.

The market regulator has been insisting that founders of IPO-bound companies holding 10 per cent or more classify themselves as promoters. Even founders collectively holding 10 per cent are to be considered promoters if they are key managerial personnel (KMP) or a director in the company.

Video: Here’s an interesting stock idea: The stock idea that we have for you today is DCM Shriram. This stock has risen breaking above a key resistance on Thursday. This bullish breakout has opened the doors for the share price to rise more in the coming days.

DCM Shriramshare price has made a bullish breakout on Thursday. The stock had surged about 7 per cent on Thursday. This rise has taken the share price well above the key resistance level of ₹1,035. The region around ₹1,030 will now act as a very good support. 

Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS and SBI