Monday, December 5 2022

July 8 stock market essentials: Akasa Air obtains an airline license from the DGCA.

Events today

GMM Pfaudler: Last day to buy shares to be eligible for the bonus issue

Marksans Pharma: studying a takeover proposal

Results

CDS

AGM

Havells India (10 a.m.)

IIFL Finance (2 p.m.)

Oil and Gas Updates

Brent Crude down to $104.5/bbl from $100.2/bbl

Singapore GRM up $13.5/bbl vs $16.1/bbl

Asian spot gas prices rise to $39.6/mmBtu from $38.6/mmBtu

Securities transaction

nothing major

DII/FII data

FII sold Rs 925.22 cr net worth of shares on July 7 (prov.)

Net DIIs purchased for Rs 980.59 cr of shares on July 7

FII F&O cash data:

Net purchase of index futures Rs 1263 cr

Net index options buy Rs 5518 cr

Net forward purchase on shares Rs 133 cr

Stock options net buy Rs 2 cr

Total FII net buys Rs 6916 cr in F&O

F&O Ban

None

Bundle/Bulk Offer

nothing major

Company announcements

T1FY23 Updates

Indiabulls housing finance

The AUM as of June 30, 2022 stood at Rs 73,000 cr as forecast

Retail payouts stood at Rs 2,000 cr for Q1FY23, up from Rs 1,500 cr per quarter in H2FY22

The retail loan portfolio was revalued upwards by an average of 90 basis points and the wholesale loan portfolio by 110 basis points

Removal of Sameer Gehlaut’s promotion on track for completion CY22

The company continues to expand its geographic reach and opened 9 additional new branches in Q1FY23

Company Raises $100M in Q1 BCE Through SBI

Star Health and Allied Insurance

Gross Direct Premium came in at `2466cr from `2185cr, up 13% YoY

Retail Health came in at Rs 2271cr vs `1889cr, up 20% YoY

Health group down 41%

Individual accident up 31%

SH Kelkar

The demand environment in emerging markets and Europe remained stable in the first quarter

Observed stable customer engagements across all categories

On a consolidated basis, FY22-23 first quarter sales amounted to Rs. 412 credits

CC revenue increased 7.5% year-over-year

Sales in emerging markets amounted to 319 cr, a year-on-year growth of 9.2%

The company expects to maintain its margins

TATA engines

First quarter sales remained constrained due to shortage of semiconductors

Retail sales stable in Q1 compared to Q4

Renewed Covid-19 lockdowns in China forced temporary closure of some dealerships Record backlog reflects strong demand

Continue to expect improved sales as chip supply gradually improves

Turnover

Retail sales for the quarter at 78,825 vehicles, broadly stable (183 units less) QoQ

Retail sales down 37% (46,000 units) year on year

Request

The company continues to see strong demand for its products

CUSTOMER BACKLOG INCREASES TO A RECORD 200,000 UNITS

Demand for new Range Rover, new Range Rover Sport and Defender at 62,000, 20,000 and 46,000 orders respectively

Oberoi Real Estate

Reserved units (number) 164 vs. 39

Reserved area (ft2) 4,01,182 vs 92,128

Reservation value (Rs cr) 752 vs 170

Others

Alkem Laboratories

Indore plant gets sighting after FDA inspection

The inspection took place from July 1 to July 7, 2022

Automation Craftsman

CRISIL raises the long-term rating from A to A+

Vedanta

Acquire Athena Chhattisgarh Power Ltd for Rs 564.67cr

Acquisition to be finalized in FY23

Insecticides (India)

Chopanki R&D Center, Rajasthan Achieves GLP Certification by DST, Government of India

Pricol

Partnership with BMS PowerSafe to manufacture Battery Management Systems (BMS) for EV applications

Kohinoor Foods

Total financial debt stands at Rs 684cr

Kalpataru Power

Kalpataru Power Transmission Sweden AB has completed the acquisition of the remaining 15% stake in Linjemontage i Grastrop AB, a Swedish EPC company

co-forged

Newgen and Coforge form a global strategic alliance to accelerate digital for organizations

Dr. Reddys

Obtains Form 483 with 2 observations after USFDA inspection at Srikakulam facility. The FDA inspected the facility on June 30. The company will resolve the issues within the given time frame.

M&Ms

The company is to transfer some assets of the 4-w passenger electric vehicle business worth Rs 400 cr to a new company – EVCo.

The sale should take place at most until June 30, 2023.

British International Investment (BII) will invest up to Rs 1925 cr in two tranches for a 2.75% stake.

BII will also invest an additional Rs 1925 cr in the mandatory convertible preference shares.

After the conversion, BII will hold 4.76% of the capital.

The infusion of funds values ​​the newly incorporated company at Rs 70,000 cr.

CMP of M&M is Rs 1133

The current market capitalization of M&M is Rs 1.41 lakh cr

Value (Rs Crore) M&M stake (%) M&M Value (Rs Crore) M&M/Share (Rs) Post Hold Co. Disc. by 40%
Pre-CCPS conversion 70,070 97.24 68 136 548 329

Other news

Paint Channel Verification: Investec

Demand remains strong in urban areas, although rural areas appear muted

Co.’s was unable to fully meet demand for luxury goods in the first quarter due to supply-side constraints

Co.’s only raised prices 2-3% in the first quarter, not fully covering RM’s 8% QoQ cost push

Asian/Berger have accelerated the pace of adding dealers (including cement dealers) as well as their focus on the Projects business

Asian/Berger retain aggressiveness in sealant/waterproofing business

Kansai and Indigo seem to be struggling

Grasim has not yet committed to the distribution channel; most dealers believe Grasim would have an impact on incumbents, initially in the project sector, then in the B2C sector

Zinc from Hindustan, Vedanta

The government is inviting investment bankers and brokers to bid to help sell the 29.5% stake in Hindustan Zinc. The value of government participation is Rs 32,000 cr. The deadline for submitting offers is July 28 and they will be open the following day.

Akasa Air receives the flight permit from the DGCA, commercial operations are due to start at the end of July

From Reuters

TATA POWER AGM

Plans investments of more than Rs 75,000 cr in renewable energy over the next 5 years

Plans to increase the share of green energy to 60% in the next 5 years

Rs 14,000 cr consol capex in FY23 with Rs 10,000 cr in renewable energies

Insiders
Companies Category Number of actions Activity
Edge of information Designated person 415 Sold
JSW Steel Employee trust 6,450 Sold
Central capital Promoter 400,000 Engaged
Mangalore Chemicals Promoter 2,200,000 Promise released

Investor/analyst meeting

Escort Kubota Meets Dalal & Broacha Portfolio Managers July 7

Meghmani Finechem meets Edelweiss Securities on July 8

Vakrangee hosted Investor Forum 2022 at LSE on July 14

Steelcast will engage with investors on July 8

Arihant Superstructure will meet with investors on July 8

Poonawalla Fincorp will meet with JMFinancial on July 12.

Maharashtra Seamless will meet L&T MF on July 8.

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