Equity99

2024-04-12 06:05:52 Morning Alert..
*Equity euphoria boosts mutual fund investor additions by 70% in FY24*
Mutual funds (MFs) added 70 per cent more investors in the financial year 2023-24 (FY24) than in FY23 on the back of an equity market turnaround. MFs onboarded 6.8 million unique investors in FY24, taking the total MF subscriber count to 44.5 million. In FY23, the additions stood at 4 million. The rebound in the pace of investor additions in FY24, according to experts, is largely a result of a reversal in equity market fortunes. The benchmark indices — Nifty 50 and Sensex — surged over 25 per cent in FY24, after delivering near-zero returns in FY23. The other factor is new fund launches in popular categories, as the promotion and marketing activities go up. Click here to follow our WhatsApp channelVenkat Chalasani, chief executive of Association of Mutual Funds in India (Amfi), said the investor confidence in MFs continued as the financial year drew to a close. “This is reflected in the systematic investment plan accounts that hit a record 83.9 million. The industry assets under management rose 35 per cent in FY24, the second-highest growth in a financial year.”

*ADB ups India GDP forecast to 7% for FY25 on investments, consumer demand*
The Asian Development Bank (ADB) on Thursday upgraded India’s gross domestic product (GDP) growth forecast for 2024-25 (FY25) to 7 per cent from 6.7 per cent earlier, citing better prospects of robust public and private investment and strong services sector growth. However, it said unanticipated global shocks, such as supply line disruptions to crude oil markets and weather shocks that impact agriculture output, are key risks to India’s economic outlook. The forecast is part of the latest edition of ADB’s flagship economic publication, Asian Development Outlook (ADO) April 2024, released on Thursday. “The triggers for FY25 growth will come from higher capital expenditure on infrastructure development both by central and state governments, rise in private corporate investment, strong service sector performance, and improved consumer confidence. Growth momentum will pick up in FY26 backed by improved goods exports and an increase in manufacturing productivity and agricultural output,” the ADB said.

*Global market action*
Dow Jones – Down by 0.10% or 40.07 points
FTSE – Down by 0.47% or 37.41 points
CAC – Down by 0.27% or 21.64 points
DAX – Down by 0.79% or 142.82 points
Gift Nifty – Up by 0.45% or 102.50 points

*FII/DII activities*
FII – Bought 2778.17 Cr worth of shares
DII – Bought 163.36 Cr worth of shares.

*Stocks with high delivery Percentage*
Sapphire Foods India Ltd – 94.1%
Aptus Value Housing Finance India Ltd – 92.1%
Emami Ltd – 88.1%
Ajanta Pharma Ltd – 87%
Shoppers Stop Ltd – 86.3%

*Primary market activities*
IPO opening today
Greenhitech Ventures Ltd (BSE SME) – Issue size 6.30Cr

Listing today
Bharti Hexacom Ltd (Main board) – Subscribed 29.88x

*Commodities updates*
Gold – Rs 73525/10gm, Silver – Rs 82880/kg, Brcrude – Rs 7096/barrel, Copper – Rs 816.50/kg.

*Corporate News*
RBL Bank appoints Murali Ramakrishnan as independent director for 4 years.

Tata Motors and Shell partner to expand EV charging network in India.

TVS SCS announces supplying 500,000 two-wheeler CKD kits to TVS Motor. Open / Comment

2024-04-11 18:32:10 Open / Comment

2024-04-10 07:40:12 : *News Headlines from Business News Agencies:*

*Business Standard*

Pegatron in talks with Tata to sell its only India iPhone plant: Report
2024 wheat output seen at 105 mn metric tonnes, 6.25% below govt estimates
India's fuel demand up by 5% y-o-y in FY24, a new financial year record
Air India, BIAL sign MoU to develop Bengaluru as premier aviation hub
Interest rates may put pressure on entry level vehicle buying in FY25: FADA
Indian coffee exports surge 13.35% to 125,000 tonnes in Jan-Mar, shows data
50% of public service organisations ready to implement GenAI: EY survey
Vishal Mega Mart said to pick Kotak, ICICI Bank for mega IPO: Report
Bajaj Finance hikes fixed deposit rates for most tenures by up to 60 bps
Sub-metre optical satellite assembled in India deployed into space: TASL
Birla Pivot targets revenue of $1 bn in next three years, leverage tech

*Economic Times*

JLR full-year sales rise by over 20 per cent year on year
Vehicle registrations rise by a modest 3% in March 2024
Bharti Airtel adds more active users than Reliance Jio in February: TRAI
EU regulators assess Apple's plan for complying with music streaming order
Tradeweb to buy investment tech firm ICD for $785 million
Lupin gets USFDA nod to market generic medication
Small towns make it big for Ather’s electric two-wheeler sales
Google's contemplated mega deal would prompt new fight with regulators
Gland Pharma gets USFDA nod for generic breast cancer drug
China's Didi, GAC Aion to mass produce robotaxis next year
REC sanctions record Rs 3.59 lakh crore loan in FY24
Alibaba Cloud announces price cut on products powered by offshore data centers

*Mint*

Indian Railways to run Summer Special Vande Bharat Express trains in April
Prestige Group sets record with FY24 sales topping ₹21,040 crore
Biocon leads India’s push into weight-loss drugs as patents set to expire
TSMC to make world's most advance semiconductors in US
China holiday activity tops prepandemic levels, adds to recovery signs
Piramal Alternatives invests ₹110 cr in Biodeal Pharmaceuticals
Go First gets lifeline as NCLT extends moratorium, again
Aakash (AESL) appoints Deepak Mehrotra as MD and CEO
L&T’s defence arm to diversify into civil projects to optimise asset utilisation
NTPC to add 5 GW power generation capacity in FY25
Hyundai, Kia partner with Exide Energy for EV battery localisation
The Disney-Reliance partnership is likely to lead to consolidation in India's streaming sector. Open / Comment

2024-04-10 06:01:41 Morning Alert..
*India likely to get normal monsoon this year: Private forecaster Skymet*
India is likely to experience a normal southwest monsoon in 2024, according to Skymet, a private weather-forecasting agency. This prediction offers a glimmer of hope in the ongoing battle against inflation. Monsoon rainfall between June and September is expected to be 102 per cent of the long-period average (LPA) of approximately 87 centimetres, with a model error of +/- 5 per cent, the weather forecaster said. Nationwide, cumulative monsoon rainfall between 96 and 104 per cent of the LPA is deemed “normal”. Skymet’s forecast anticipates sufficient rainfall in south, west, and northwest India. The core monsoon rainfed zones of Maharashtra and Madhya Pradesh are also expected to receive ample rainfall. The eastern states of Bihar, Jharkhand, Odisha, and West Bengal may experience a rainfall deficit during the peak monsoon months of July and August. Northeast India is likely to see less than normal rainfall during the first half of the season. The state-run India Meteorological Department (IMD) is slated to release its initial forecast for the 2024 southwest monsoon in the coming weeks. A good and normal monsoon should significantly contribute to curbing inflation and restoring growth in the agricultural sector, which is projected to have dipped to multi-year lows in 2023-24 due to a weak monsoon.

*Global market action*
Dow Jones – Up by 0.13% or 51.07 points
FTSE – Down by 0.11% or 8.68 points
CAC – Down by 0.86% or 70.13 points
DAX – Down by 1.32% or 242.28 points
Gift Nifty – Up by 0.27% or 62.00 points

*FII/DII activities*
FII – Sold 593.20 Cr worth of shares
DII – Bought 2257.18 Cr worth of shares.

*Stocks with high delivery Percentage*
Five-Star Business Finance Ltd – 95%
Route Mobile Ltd – 93.7%
3M India Ltd – 89.7%
BlueDart Express Ltd – 88.6%
JB Chemicals & Pharmaceuticals Ltd – 88.1%

*Commodities updates*
Gold – Rs 73900/10gm, Silver – Rs 82425/kg, Brcrude – Rs 7098/barrel, Copper – Rs 818.25/kg.

*Corporate News*
Maruti Suzuki adds new line, to boost manufacturing capacity by 4.5%.

Paytm PB MD & CEO Surinder Chawla resigns due to personal reasons.

Godrej Properties business update: Q4 bookings up 135% YoY at ₹9,500 crore. FY24 bookings up 84% YoY at *22,500 crore, 61% above guidance.

ITC Hotels likely has set an ambitious goal of expanding its portfolio to 200 hotels, from the current 130, over the next five years. Open / Comment

2024-04-09 06:22:08 Open / Comment

2024-04-09 06:10:13 Morning Alert..
*Fuel consumption increased 4.6% to record high in FY24; fell 0.6% in March*
Fuel consumption in India, a proxy for oil demand, increased 4.6 per cent, to hit a record high of 233.32 million tonne (mt) in FY24.This was lower than the 10.57 per cent rise seen in FY23. The demand fell by 0.6 per cent on an annual basis in March as a result of lesser petroleum coke use, data released by the Petroleum Planning and Analysis Cell (PPAC) has shown. Consumption of fuel was 21.09 mt in March, down from 21.22 mt in March 2023. The monthly numbers were pulled down by the lower consumption of petcoke, a by-product created by the refining of bitumen into crude oil. Used in the manufacturing of steel, glass, paint, and fertilizers, petcoke usage fell 16.8 per cent in March to 1.63 mt. Oil demand usually picks up late February, and rises in tandem with the temperature. Case in point, consumption rose by 13.7 per cent in March, on a sequential basis. Sales of diesel, the most used fuel in the country, rose 3 per cent to 8.03 mt in March. In the past 12 months, sales had reached an all-time high of 8.21 mt in May, 2023. Petrol sales also reached a four-month high, rising 5.1 per cent to 3.14 mt in October. Sales stood at 2.99 mt in the same month of the previous year.

*Bond yield touches 2-month high; tracking a rise in US Treasury yields*
The yield on the benchmark 10-year government bond rose to a two-month high on Monday, tracking a rise in US Treasury yields. The benchmark yield settled at 7.15 per cent, the highest since January 30, against 7.12 per cent on Friday. In April, the yield on the 10-year benchmark government bond has hardened by 10 basis points (bps). “Yields rose because of the rise in US yields. Rates have been rising globally, so India can't be an outlier. It (benchmark yield) should find some footing around these levels, not rise too much, but it is difficult to say as we have the Consumer Price Index (CPI) data lined up,” said Naveen Singh, vice president of ICICI Securities Primary Dealership. The newly auctioned 10-year government bond, introduced for the first time on Friday, swiftly emerged as the second most traded bond, after the benchmark bond. Market participants said that it might ascend to benchmark status after its second issuance. The government auctioned Rs 20,000 crore worth of the bond, and the coupon was set at 7.10 per cent. The current benchmark bond took more than two months to become the most traded bond and dethrone its predecessor. The outstanding amount on the existing 10-year paper has reached Rs 2 trillion.

*Global market action*
Dow Jones – Down by 0.02% or 9.60 points
FTSE – Up by 0.41% or 32.31 points
CAC – Up by 0.72% or 57.99 points
DAX – Up by 0.79% or 143.93 points
Gift Nifty – Up by 0.26% or 58.50 points

*FII/DII activities*
FII – Sold 684.68 Cr worth of shares
DII – Bought 3470.54 Cr worth of shares.

*Stocks with high delivery Percentage*
Westlife Foodworld Ltd – 92.8%
Eris Lifesciences Ltd – 86.1%
Pfizer Ltd – 85%
Krishna Institute of Medical Sciences Ltd – 84.8%
GR Infraprojects Ltd – 83.5%

*Primary market updates*
Listing today
Aluwind Achitectural Ltd (NSE SME) – Subscribed 8.19x
Creative Graphics Solutions India Ltd (NSE SME) – Subscribed 201.86x

*Commodities updates*
Gold – Rs 73275/10gm, Silver – Rs 81875/kg, Brcrude – Rs 7171/barrel, Copper – Rs 815.6/kg.

*Corporate News*
Private equity firm Bain Capital to sell remaining Axis Bank holding.

At Rs 3.55 trillion, REC clocks highest ever loan sanctions in FY24.

Dixon enters into Share Purchase Agreement and Shareholders' Agreement for proposed acquisition of majority stake in Ismartu India Pvt Ltd.

Poonawalla Fincorp: Finance Committee of the Company has approved allotment of 7,500 secured, redeemable, rated, listed, NCDs of the face value of Rs 1 Lakh each, aggregating to Rs 75 crores, through private placement. Open / Comment

2024-04-08 06:13:26 *News Headlines from Business News Agencies:*

*Business Standard*
 
Signature Global Q4 sales bookings jump 3.4 times to Rs 4,140 crore
Data centre operator Yotta looks to expand its GPU capacity March 2025
Tata Steel crude steel production broadly stable and stood at around 5.38 million tons
Adani to invest Rs 2.3 trillion in renewable energy, manufacturing capacity
We are optimistic about India story, says ITC's Director Hemant Malik
Air pollution-related terminologies awareness low among urban poor: Study
RoC puts Rs 10 cr fine on 2 cos, 9 individuals for violating companies law
Coworking firms take on lease 3.1 mn sq ft office space in Jan-Mar: CBRE
Tata Steel to stop operations of coke ovens at Port Talbot plant
Sebi proposes direct reporting of AIFs' PPM changes to cut compliance cost
Cilio expects to double global business in 18 months with India foray
India emerges as a curious mkt in global restructuring of industrial majors

*Economic Times*

Vinod Francis appointed as Chief Financial Officer of South Indian Bank
Fundraise by InvITs, REITs surges multi-fold to Rs 17,116 cr in FY24 on promising returns
Vistara to discuss rostering system with pilots; incorporate feedback to possible extent: CEO
India's coal import rises 13 percent in February
Social commerce set to scale, but concern of authenticity looms large: Industry
Indigenous robotic solutions get an edge as enterprises look for customised AI-based automation
India needs 1 million fast chargers to become 100 pc electric in 2 and 3 wheelers by 2030: Former NITI Aayog CEO Amitabh Kant
India's food processing sector poised to reach $535 billion by 2025-26
Incorporate weather, climate inputs while planning 'one nation, one poll', says IMD chief
Sanofi looks for accelerated growth in India; plans fast-tracking of product pipeline
Maruti Suzuki eyes 3 lakh exports in FY25, 8 lakh by 2030

*Mint*

Cochin Shipyard signs Master Shipyard Repair Agreement with U.S. Navy
Vodafone Idea allots shares worth ₹2,075 cr to group entity
GM Breweries Q4 FY24 Results: profit rise by 146.87% YOY
India, Oman conclude trade talks; to sign deal after elections
Drug regulator seeks vaccine manufacturing and sales data from states
Info Edge Q4 update: Company reports ₹826.9 crore as standalone billing
IRDAI raises concern over Hinduja Group-led IIHL bid for Reliance Capital
Wipro MD Thierry Delaporte resigns, Srinivas Pallia to succeed as CEO
India to consider extending OCI relaxation to Fiji
India is reportedly planning to replace the minimum wage system with living wages by 2025
Alibaba is making waves with its announcement of exploring one-hour deliveries worldwide
Indiabulls Real Estate board has approved raising ₹3,911 crore through a preferential allotment Open / Comment

2024-04-08 05:55:50 Morning Alert..
*India emerges as a curious mkt in global restructuring of industrial majors*
In the past few years, global industrial majors have busied themselves with the revamp of their business structures. Amidst these amalgamations and demergers, many of these are also navigating Indian regulatory requirements and shareholder concerns along the way. Linde Plc, Siemens, and GE are three such entities that have made changes to their global business structures in the past few years. Globally, Linde and Praxair are a merged entity named Linde Plc. In India, however, their listed entities operate separately. In a latest development, related party transactions between the two Indian entities have landed Linde in trouble with the market regulator. An email query sent to Linde India on Thursday remained unanswered. Proxy advisory firm Institutional Investor Advisory Services (IiAS) in a report on March 28, noted, “Linde India’s parent filed a writ petition in January, in connection with SEBI seeking financial information and details regarding certain business transactions of the company. SEBI has also issued summons to the parent's management and directors.” The note said Linde Plc has filed a writ petition seeking to quash the proceedings and a stay in the interim.

*Global market action*
Dow Jones – Up by 0.06% or 22.91 points
FTSE – Down by 0.81% or 64.73 points
CAC – Down by 1.11% or 90.24 points
DAX – Down by 1.24% or 228.09 points
Gift Nifty – Up by 0.15% or 34 points

*FII/DII activities*
FII – Bought 1659.27 Cr worth of shares
DII – Sold 3370.42 Cr worth of shares.

*Stocks with high delivery Percentage*
Vijaya Diagnostic Centre – 92.3%
Grindwell Norton – 89.8%
Poly Medicure – 89.4%
Route Mobile – 85.7%
Sonata Software – 82.6%

*Primary market activities*
IPOs opening today
DCG Cables & Wires Ltd (NSE SME) – Issue size 49.99Cr
Teerth Gopicon Ltd (NSE SME) – Issue size 44.40Cr

Listing today
Jay Kailash Namkeen Ltd (BSE SME) – Subscribed 40.02x
K2 Infragen Ltd (NSE SME) – Subscribed 51.47x
Yash Optics & Lens Ltd (NSE SME) – Subscribed 42.17x

*Commodities updates*
Gold – Rs 72840/10gm, Silver – Rs 80850/kg, Brcrude – Rs 7286/barrel, Copper – Rs 801.25/kg.

*Corporate News*
Adani to invest Rs 2.3 trillion in renewable energy, manufacturing capacity.

Mahindra EPC bags an order of Rs 13.2 crore for supply of Micro Irrigation Systems from the Office of the Asst. Engineer.

Voltas has achieved the landmark of highest ever AC sales in FY24. The company achieved over 2 million AC units during this fiscal 2023-24, the highest ever sale of ACs by any brand in a financial year in India, with a volume growth of 35%. Open / Comment

2024-04-05 11:17:32 GSTL TECHNICAL CHART STUDY

Ready to give Big Breakout above 52

Support Line - 42 - 39

Resistance Test Levels - 70 - 84 Open / Comment

2024-04-05 09:48:29 https://www.thehansindia.com/business/globesecure-technologies-limited-receives-work-order-worth-rs-80-crore-843840 Open / Comment