SKM INVESTMENT

2022-02-25 07:06:42 Nifty16500 pe@200 Open / Comment

2022-02-25 05:57:38 ·         JSW Ispat: The company has completed acquisition of 100% equity share capital of Mivaan Steels Ltd.- positive
·         Panacea Biotec: The Coalition for Epidemic Preparedness Innovations will partner with a consortium comprised of the Translational Health Science and Technology Institute and the company to develop vaccine candidates that could provide broad protection against SARS-COV-2 variants and other Betacoronaviruses - positive
·         Arvind Smart Space - Indian Ratings and Research (Ind-Ra) has upgraded/assigned/withdrawn the various ratings of Arvind Smart Spaces A/Positive – positive
·         Camlin Fine Sciences has allotted 2.93cr fully paid‐up Equity Shares of face value Re 1/‐ each of the company aggregating to 140.56 crore to Infinity Direct Holdings and Infinity Holdings belonging to non‐promoter category upon receipt of subscription money and conversion of an equivalent number of warrants – positive
·         Pritish Nandy Communications has appointed Neerja Shah as an Additional Independent Director on the Board of the Company with effect from February 23, 2022 – Avoid
·         Ashoka Buildcon gets letter of accepteance for Rs693cr projects
·         IDBI Bank approves re-appointment of Sharma as MD for 3 years  - positive
·         Hindustan Foods fixes March 5, 2022 as record date for merger – positive development
·         TCS has launched its Cyber Defense Suite-a comprehensive set of modular, quickly adoptable cybersecurity services offered on a platform-to give leaders confidence and agility to grow their digital enterprises. – positive.
·         BAL Pharma Limited's Credit Rating upgraded by Acuite Ratings & Research to BBB- from BB+
·         Cadila Healthcare changes name to Zydus Lifescience - Positive
·         Wipro to hire more than 500 in Brazil over next fiscal year - positive 
·         Positive for Hindalco and Nlaco as Aluminum price spikes to 14-year high on LME - Expects positive for Aluminum major Hindalco and National Aluminum on account of Aluminum rallied to a record in London, exceeding its 2008 peak, as the deepening Ukraine crisis added to supply risks in a market already seeing critical shortages of the most widely used base metal.
·         Chambal Fertilisers & Chemicals: Promoter Zuari Global created a pledge of 12 lakh shares and revoked a pledge of 18 lakh shares between Feb. 21 and Feb. 22.
·         Jindal Steel & Power: Promoter Group Siddeshwari Tradex created a pledge of 5.5 lakh shares on Feb. 23.
·         Coffee Day Enterprises: Promoter V. G. Siddhartha invoked a pledge of 5 lakh shares on Jan. 28 Open / Comment

2022-02-25 05:57:38 ·         Mindtree, has announced that it has been recognized as the 2022 ServiceNow Americas Emerging Service Provider Partner of the Year for achieving overall excellence in delivery and ServiceNow pipeline growth. Mindtree has demonstrated the ability to deliver a world-class customer experience – Positive
·         Infosys launched Infosys metaverse foundry to ease and fast track enterprises’ exploration of the metaverse, including virtual and augmented environments, for their customers, workplace, products, and operations.- positive
·         Dabur India - Indian Oil will leverage its cooking gas distributors to deliver Dabur India’s consumer products to the homes of around 140 million cooking gas customers – positive
·         Windsor Machines has developed surpassing new product "SPRINT- 800" for the manufacturing of thermoplastic products and ready for Domestic as well as International Market.- positive
·         Sterlite Technologies Limited (STL) will be demonstrating its vision for a new era of 5G-powered networks at Mobile World Congress 2022 in Barcelona next week – positive
·         JK Cement - India Ratings and Research (Ind-Ra) has affirmed J.K.Cement Limited’s (JKCL) Long-Term Issuer Rating at ‘IND AA+’. The Outlook is Stable – positive
·         Shriram Transport will consider raising of funds by way of issue of redeemable non-convertible debt securities including bonds in onshore/offshore market on private placement basis and/or public issue – positive
·         TCS has launched its Cyber Defense Suite—a comprehensive set of modular, quickly adoptable cybersecurity services offered on a platform—to give leaders confidence and agility to grow their digital enterprises.- positive
·         Garware Technical Fibres - ICRA Limited has reviewed the credit rating assigned to bank facilities availed by Garware Technical Fibres at ICRA AA - Positive
·         Info Edge has received NCLT approval for amalgamation of wholly-owned subsidiary company High Orbit Careers into and with Info Edge.- positive
·         Bajaj Finance - India Ratings and Research (Ind-Ra) has affirmed Bajaj Finance Limited’s (BFL) Long-Term Issuer Rating at ‘IND AAA’ with a Stable Outlook. – positive
·         Rajapalayam Mills had given their approval for Capacity addition of 166 Nos. of Looms and establishment of Fabric finishing process with a capacity of 50,000 meters per day at an estimated Project cost of Rs330 crore.- positive
·         Newgen Software and Infosys are jointly participating in InsurTech NY– a networking conference focusing on the insurance sector to be held in New York on March 7, 2022 – positive
·         Maruti Suzuki India has announced the launch of its much-awaited technologically superior premium hatchback - the New Age Baleno.- positive
·         Federal-Mogul holding company Tenneco Inc, has entered a merger agreement with Pegasus Merger, a wholly-owned subsidiary of Pegasus Holdings.- positive
·         Jasch Industries has entered into a royalty-based technical licensing know-how agreement with a foreign Company for production of PU resins and PU Tapes for fastener and seam tape application.- positive
·         UGRO Capital to raising of funds by way of issuance of Non-Convertible Debentures through public issue.- positive
·         Hinduja Global: The company bagged a contract worth Rs 2,100 crore by the UK Health Security Agency - positive
·         Adani Enterprises - The Adani Group announced has signed a non-binding MoU with Ballard Power Systems to evaluate a joint investment case for the commercialization of hydrogen fuel cells in various mobility and industrial applications in India.- Avoid
·         Infosys: The company launched Infosys metaverse foundry to ease and fast track enterprises’ exploration of the metaverse, including virtual and augmented environments, for its customers, workplace, products and operations. – positive Open / Comment

2022-02-25 05:57:38 ·         Bharat Electronics: The Ministry of Defence has signed a contract worth Rs1,075 crore with the company for the retro-modification of commander sight of battle tanks-T-90 - Positive
·         SEBI postpones F&O margin rule implementation to May 2, 2022 – positive for the market sentiment
·         Apollo Hospitals will replace Indian Oil Corporation Ltd. in the benchmark Nifty 50 from March 31, 2022, as part of the semi-annual index review. - positive
·         Hindustan Unilever announced plans to separate the roles of chairman and chief executive officer as Unilever Plc’s India unit seeks to boost governance standards. Nitin Paranjpe, currently the chief operating officer of Unilever, will be taking over as the non-executive chairman of  the Indian subsidiary while Sanjiv Mehta will continue as the chief executive and the managing director. - positive
·         Vodafone block deal - Indus Tower nearly 3 per cent of the total equity of the company changed hands on BSE and NSE yesterday. Bharti Airtel and Vodafone Group, together, are classified as promoters of the Company and they owned 69.85 per cent shares of the Company as on March 31, 2021. British telecom giant Vodafone was in discussions to sell around five per cent stake in Indus Towers to Bharti Airtel. The stake is estimated to be valued at over Rs 3,300 crore, and the proceeds will be pumped into the Indian entity Vodafone Idea.- positive
·         Rating Agency Moody's Investors Service has raised its GDP growth forecast for India for the current calendar year to 9.5 percent from 7 percent, citing a stronger-than-expected economic recovery from the national lockdown of 2020 and the second wave of the COVID pandemic in mid-2021. - Long term positive for market
·         Bharat Forge announced that it has entered into a definitive agreement to acquire JS Autocast Foundry India Private Limited ("JS Auto"). Established in 2004, JS Auto is a leading and a preferred supplier of critical machined Ductile Iron castings for the Wind, Hydraulic, Off-Highway and Automotive applications.- positive
·         Windsor Machines Limited has developed surpassing new product "SPRINT-800" for the manufacturing of thermoplastic products and ready for Domestic as well as International Market.- positive
·         AGS Transact Technologies - CRISIL Ratings has withdrawn the credit rating of CRISIL A+ / Stable issued by it for the NCDs - positive .
·         LIC IPO Prospects Unlikely To Be Hit By Ukraine Situation, Says Finance Secretary TV Somanathan - India does not expect LIC IPO prospects to be hit by Russia-Ukraine crisis. India prepared to handle any crisis due to the situation in Ukraine -  Bloomberg
·         Apollo Hospitals Group has announced a unique collaboration with '8chili Inc' to enable engagement in the metaverse, in the first-of-its-kind initiative. Virtual reality will provide an immersive experience that has been proven to increase patient engagement and skill mastery for hands-on training– positive
·         India's homegrown Paytm Payments Bank Limited (PPBL) continues to lead the country's United Payment Interface (UPI) ecosystem and the FASTag segment, as per data from the National Payments Corporation of India (NPCI) for January 2022. – positive
·         Hindustan Foods fixes March 5, 2022 as record date for merger – long term positive
·         Russia-Ukraine crisis: India's tea exports likely to be hit - Tea planters and exporters are "extremely worried" over the possible impact on their shipments to Russia, India's second largest buyer of tea, in the wake of the Russia-Ukraine crisis. – negative for Tea stocks, - Tata Consumes, CCL Products, Mcleod
·         Minda Indsutries buys 87.5% stake in SM. Auto Industries - positive 
·         Saregama India approves stock split from Rs10 to Re1 Open / Comment

2022-02-25 05:57:37 News and Impact
 
·         Expects market to open on a strong note on account of smart recovery in the global markets and fall in commodity price. Market expectation that the US and European countries will impose only financial sanction against Russia and to avoid any military action by NATO. As a result, US and Asian market and all asset classes (Gold, Oil) calmed down after big moves on Thursday as investors assessed the impact of Russia’s invasion of Ukraine and Western sanctions, against the imminent monetary policy tightening in the U.S. Dow Jones bounced back over 1000 points intra-day lower and Nasdaq Composite recovered 7% from intra-day low. Gold and Oil price corrected by 3-5% from yesterday high. However, intra-day volatility may not be ruled out concern of geo-political tension between US-Ukraine and ahead of US Fed meeting next month. FIIs continued selling in Indian equity and net sellers over Rs6k yesterday. SGX Nifty is up 230 points or 1.5% while US Future slipped by half percent. SEBI postpones F&O margin rule implementation to May 2, 2022 may relief for traders on a short term prospective.
·         U.S. stocks staged a furious comeback Thursday as investors piled into growth and technology stocks in the wake of Russia's invasion of Ukraine. Dow Jones recovered over 1000 points (3%) from the intra-day low and finally ended over quarter percent higher. Both Nasdaq Composite and S&P 500 surged 3% and 3% respectively. Investor optimism grew, however, after President Biden in an afternoon address announced new sanctions on Russian elites, state-owned enterprises and banks. The European Union later announced its own sanctions
·         Stocks fell in the aftermath of the attacks on cities across Ukraine, while oil, gold and government notes rose. Investor optimism grew, however, after President Biden in an afternoon address announced new sanctions on Russian elites, state-owned enterprises and banks. The European Union later announced its own sanctions.
·         Stocks climbed in Asia on Friday while U.S. equity futures wavered as traders grappled with the economic and monetary-policy implications of the Ukraine conflict and Western sanctions on Russia. Shares rose over 1% each in Japan, South Korea, Taiwan and Australia.
·         European stocks sharply declined on Thursday close as Russia started an invasion of Ukraine with many companies halting their Ukrainian operations. UK, Germany and France Index declined by 4% each.
·         Oil pushed higher in early trading following a wild session in which prices spiked above $106 a barrel before giving up gains after Russian energy supplies were spared from sanctions. Brent fell to $101/bbl after touching intra-day high of $106/bbl yesterday.
·         Gold tumbled from the intra-day high after the US President Joe Biden announced additional sanctions on Russian banks and said the U.S. would release more strategic oil as conditions warrant. Gold is hovering at $1900/ounce while touched intra-day high $1978/ounce yesterday.
·         Actionable – Apollo Hospital, UPL, Bajaj Finance
·         Brokers Radar –JP Morgan TGT on  Kotak Bank at  1900, Jefferies TGT on Bajaj Auto at 4230, Jefferies TGT on Hero Motocorp at 4230. Eicher Motor TGT by Jefferies at 3200
·         Events – Nazara Tech board meeting
·         Market Summary - Bharat Forge enters into Definitive Agreement to acquire JS Autocast, Indus Tower 3% equity changes hands on NSE and BSE Yesterday, Moody's raises India 2022 GDP growth forecast to 9.5% from 7%, Hindustan Unilever Separates Chairman, CEO Roles, Apollo Hospitals Group to enter the metaverse using 8chili HintVR platform, Paytm Payments Bank fortifies its leadership in UPI beneficiary transactions and FASTag issuances.
·         UPL Limited board to consider buyback on March 2, 2022, Board meeting – positive Open / Comment

2022-02-24 07:42:51 FMGOETZE @233 TGT260++ SL215 Open / Comment

2022-02-24 06:08:35 ·         Jasch Industries has entered into a royalty-based technical licensing know-how agreement with a foreign Company for production of PU resins and PU Tapes for fastener and seam tape application. – positive
·         Ujjivan Small Finance Bank - CRISIL updates on rating of Certificate of Deposits of Ujjivan Small Finance Bank, reaffirmed its 'CRISIL A1+' rating on the Rs. 2,500 Crore Certificate of Deposits Programme of the Bank.- positive
·         M&M Finance announced the launch of a Special Deposit Scheme. This scheme, aimed specifically for digitally affluent customers is part of the company's Digitisation drive. – positive
·         Asahi India Glass - CRISIL Ratings has assigned its 'CRISIL A+/Stable/CRISIL A1' ratings to the bank facilities of Asahi India Glass – positive
·         Secmark Consultancy to acquire 20% stake in Trakiot. Trakiot is in the business of software designing, development, customisation, implementation, maintenance, testing and bench marking, designing, developing and mobile software and solutions and undertaking IT enabled service – positive
·         Bhagwati Autocast - CRISIL Ltd. has reviewed and assigned the ratings on the bank facilities of Bhagwati Autocast, CRISIL has given a stable outlook for long-term facilities.- positive
·         Lupin Limited announced changes to its executive team with assigning Global Corporate Development responsibilities to Dr. Fabrice Egros as President, Corporate Development and Growth Markets. Dr. Egros will step in the shoes of Alan Butcher departing from the Company on February 28, 2022.- positive
·         Nandan Denim Ltd fixes March 21, 2022 as record date for bonus issue
·         Pricol Limited has entered into partnership with Sibros Technologies, Inc, California, USA providing Telematics and Connected Vehicle Solutions to the OEMs in Indian and ASEAN Markets across all vehicle segments.- positive
·         Sigachi Industries - Credit rating agency CARE Ratings Limited has upgraded the ratings allotted to its Long term and Short term bank facilities - CARE ratings allotted a ‘CARE A-’ rating - positive
·         Reliance Industries - Supreme Court Adjourns Amazon Plea to Resume Future Arbitration - Supreme Court adjourned to March 3 hearing arguments on Amazon.com Inc.’s petition to resume arbitration case against Future Retail  - wait for final verdict
·         Black Box to consider stock split on March 14 board meeting – positive
·         D-Mart - Avenue Supermart to open new store in India Gift City - positive
·         Bosch to acquire 26% stake in Autozilla - positive
·         PNC Infratech lowest bidder for 3 road projects worth Rs4384cr - positive
·         BPCL names Sanjay Khanna as director refineries - positive 
·         Refex Industries promoter Mr Anil Jain has bought 30211 equity shares (0.14%) of the company through open market purchase on February 9, 2022. - Positive
·         Dilip Buildcon has been declared as L-1 bidder for a new HAM project under Raipur-Visakhapatnam in the state of Chhattisgarh. The Order worth Rs. 1141.00 Crores – Positive
·         Wipro has formed a joint go-to market partnership with vFunction, a Palo Alto-based startup that has developed a scalable and open workplace experience center in Munich  - positive
 
  Open / Comment

2022-02-24 06:08:35 ·         Vedanta to consider third interim dividend on March 02 - positive
·         Bajaj Healthcare launched Magnesium L-Threonate in Nutraceutical segment.  The drug is used as a nutritional supplement to normalise magnesium level in the body and aids in improving memory, muscle and nerve functions.- positive
·         Sanofi India Q3FY22 (YoY) -  Revenue down 4% at Rs 687.9 crore Vs Rs 720.3 crore, Net profit down 27% at Rs 90.4 crore Vs Rs 123 crore, Ebitda down 24% at Rs 127.20 crore Vs Rs 167 crore, Margin 18.5% Vs 23.2%, Declared dividend of Rs 490 per share on the back of divestments and strong domestic growth.
·         Info Edge: The company has received NCLT approval for amalgamation of wholly owned subsidiary company High Orbit Careers into and with Info Edge.- positive
·         Federal-Mogul Goetze: Tenneco Inc, company’s holding company, has entered a merger agreement with Pegasus Merger, a wholly owned subsidiary of Pegasus Holdings. - positive
·         Butterfly Gandhimathi Appliances: Rajasthan Global Securities bought 1.63 lakh (0.91%) shares at Rs 1395.52 apiece.
·         HDFC Plans to Sell At Least Rs2000cr 3Y Bonds at 5.90% - positive
·         Cadila gets final approval from USFDA for Dapagliflozin tablets. Dapagliflozin is used with a proper diet and exercise program to control high blood sugar in people with type 2 diabetes- positive
·         Spandana Sphoorty Financial - company reported a pick up in disbursements. Firm has disbursed Rs 300 crore ($40 million) of loans so far in February.  Incremental operational cash generation of Rs 75 crore to Rs 100 crore per month and new debt drawdown provide enough funds for rapid ramp-up in disbursements.- positive
·         Adani Enterprises has divested its 100% stake in DC Development Hyderabad Pvt ("DCDHPL") and Naida Data Center ("NDCL"), Wholly Owned Subsidiary ("WoS") Companies to AdaniConnex PVT (50% JV of AEL with EdgeConneX Europe B.V.) Consequently, DCDHPL and NDCL have ceased as WoS of the Company.- positive
·         Vikas Lifecare and sensor intelligence company SICK India will market a certain type of ultrasonic gas meters in India and other Asian countries as part of a new memorandum of understanding.- positive
·         TVS Motor announced that its two-wheeler exports clocked 1 million units (including sales from TVS Motor Company and PT TVS, Indonesia) in FY21-22. The company has achieved this significant export milestone in a financial year for the first time. – positive
·         Maruti Suzuki India announced the launch of its much-awaited technologically superior premium hatchback - the New Age Baleno. Equipped with a host of class leading technology, safety, comfort & convenience features – positive
·         Sun Pharma announced that Galderma and Taro Pharmaceutical have signed a definitive agreement for Taro to acquire Alchemee, formerly The Proactiv Company (TPC), from Galderma. – positive
·         Rama Vision Ltd has informed that CARE Rating Agency has revised the ratings on the bank facilities of the Company. Long-term ratings has been revised to CARE BB with Stable outlook from CARE BB-/Positive rating – Avoid
·         Power Grid - Fitch Ratings has affirmed Power Grid Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'BBB-'. The Outlook is Negative. – we are long term positive
·         Firstsource Solutions was ranked #1 in the 2022 Best in KLAS: Software & Services Report, and noted as a leader in the Eligibility and Enrollment Services category.- positive
·         Intellect Design announced that the bank has gone live with Intellect Contextual Banking Experience - Retail (CBX-R) deployed on Microsoft Azure to offer fully digital direct-to-customer bank offering to its customers.- positive
·         DFM Foods Ltd has informed that CRISIL agency has assigned the bank ratings of the company where long-term ratings has been assigned at CRISIL A- / Negative while short term rating has been assigned at CRISIL A2+. - Avoid Open / Comment

2022-02-24 06:08:35 News and Impact
 
·         Southbound journey expected to continue on account of escalating tension in Ukraine –Russia and sharp decline across the global market (SGX Nifty slipped nearly 300Pts). Ukraine's parliament declared a national state of emergency aimed at helping to forge a response to the threat of a full-scale Russian invasion.  Dow Jones Future fell over 200pts (Yesterday declined nearly 500Pts) to year low at below 33k after the media report that the Russia may attack Ukraine today. Russia has deployed at least 150,000 troops near Ukraine's borders. Brent Crude spiked to 7-year high at $98/bbl and Gold surged to 8-month high of above $1900 on account of geo-political tension. Traders apply caution approach in the market and avoid bargain hunting. FIIs continued selling in Indian equity and net sellers over $4bn during the month of February.
·         US stocks fell again Wednesday amid unease over Ukraine and shifting Federal Reserve policy, while oil prices finished a volatile session little changed. Major US indices opened the day higher, but began
·         retreating soon thereafter amid fresh Ukraine headlines, finishing the day sharply lower. Nasdaq Composite slipped nearly 3% while Dow Jones nosedived 500 points or 1.4%
·         Asian stocks fell Thursday on growing geopolitical tension after the Kremlin said separatists in eastern Ukraine asked President Vladimir Putin for help, a step that could lead to Russian troop deployments.
·         Equities declined by 1% each in Japan, South Korea, Taiwan and Australia.
·         European stocks mostly ended lower on Wednesday as investors continued to monitor the Russia-Ukraine crisis and corporate earnings. Germany Index slipped nearly half percent while UK Index ended flat.
·         Oil climbed on a worsening geopolitical situation in Europe after the Kremlin said separatist leaders in eastern Ukraine called on Russian President Vladimir Putin for help fighting Ukrainian forces. Brent Crude gained over 1% to $97/bbl.
·         Gold traded near its highest level in more than eight months as tensions around Ukraine intensified, boosting demand for the haven asset. Gold advance 1% to $1911/ounce.
·         Actionable - Crompton Greaves, Balrampur Chini, Bank of Baroda, Vodafone
·         Brokers Radar – Crompton Greaves TGT by Morgan Stanley at 442, Credit Swiss TGT on Crompton Greaves at 500, Jefferies TGT on Crompton Greaves at 590, JP Morgan TGT 485.
·         Events - February series expiry, ex-dividend - PFC Rs6, PM meeting on Ethinol blending, US Q4 GDP Number, Saregama board meeting for stock split
·         Market Summary - Vodafone in Talks on 5% Indus Towers Stake Sale to Airtel, Godrej Agrovet Launches Nisan Chemical's Insecticide in India, Bikaji Foods Files for India IPO Via Sale of Secondary Shares, Bajaj Healthcare Launching Drug To Normalise Magnesium Levels, Vikas Lifecare Unit Ties Up with SICK India to Market Ultrasonic, TVS Motor Clocks 1 Million Two-Wheeler Export Milestone in FY 21-22, Global Premier of Maruti Suzuki New Age Baleno, Adani Enterprises divests stake in subsidiaries to AdaniConnex Pvt Ltd.
·         Vodafone is in talks to sell around 5% stake in Indus Towers to Bharti Airtel, proceeds from the sale will go to Vodafone Idea - positive
·         Godrej Agrovet has launched an insecticide called Gracia developed by Japan's Nisan Chemical Corporation in the Indian market. This is the second product of Nisan to be launched by Godrej Agrovet in India, after the launch of Hanabi miticidefrom in 2019. – positive
·         Watch Sugar stocks (Balrampur Chini, Praj, Ranuka, Eid Parry) ahead of PM meeting today to achieve 20% ethanol-blending in petrol by five years to 2025
·         Bikaji Foods Files for India IPO Via Sale of Secondary Shares worth Rs1000cr - Bikaji Foods International Ltd.’s founders and investors seek to sell as many as 29.37 million shares in an initial public offering, according to its draft prospectus. – Positive for Prataap Snacks Open / Comment

2022-02-23 09:59:29 National alumnium@116 tgt121 sl113 Open / Comment