SKM INVESTMENT

2022-02-23 09:03:00 Godrejagro @486 tgt520++ sl470 Open / Comment

2022-02-23 06:06:22 ·         Hindalco announced that subsidiary Novelis Inc will be investing approximately $50 million to build a recycling center at its Ulsan Aluminum joint venture in South Korea. Fully funded by Novelis, the Ulsan Recycling Center will have an annual casting capacity of 100 kilotonnes of low-carbon sheet ingot.- positive
·         Adani Enterprises 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. Under the MoU, both parties will examine various options to cooperate, including potential collaboration for fuel cell manufacturing in India.- positive
·         Astron Paper has informed that Chaitali Parikh has resigned from the position of Independent Director of the Company with effect from February 22, 2022, due to her certain personal pressing engagement – positive.
·         DCB Bank – Ratig agency ICRA has reaffirmed various ratings of DCB Bank at ICRA A+(Stable) - positive
·         NHPC restarted power generation of Sewa-II Power Station (3 x 40 MW), Mashka (UT of J&K)with the synchronization of all three units with the grid.- positive
·         Bal Pharma - Credit Rating Agency Acuite Limited upgrades the credit rating assigned to the Long term fund-based facilities, short term non-fund based facilities, and long-term loans of Bal Pharma.- positive
·         CARE affirms credit rating on Kovai Medical at CARE A+  stable – positive
·         Data Soft Application Software board approved foray into new business – positive
·         Dynamatic Technologies - India Rating & Research (Ind-Ra) has affirmed the rating as BBB+ (Positive) for the bank facilities of Dynamatic Technologies – Positive
·         Leisure Hotels Group partners IHCL-backed Ginger to open hotel in Greater Noida- positive
·         IndiaMART, has announced an investment of Rs 91.42 Crores in Fleetx Technologies PVT. As part of the transaction, IndiaMART has agreed to acquire shares via a mix of primary and secondary share purchases, and its final holding post the round shall stand at 16.53%. Fleetx.io has raised a total of Rs.145 Crores in this round, led by IndiaMART along with participation from existing investors IndiaQuotient and BEENEXT.- Positive
·         EaseMyTrip, has partnered with Toffee Insurance, one of the fastest-growing InsurTech companies, to provide innovative and tailored travel insurance solutions to its customers. - Positive
·         Indiabulls Real Estate  clarified that it is not related to the Enforcement Directorate's investigation. "The ED has sought some information from Indiabulls Housing Finance regarding certain of their clients and it is understood that the necessary data has been provided. - Avoid
·         Heranba Industries is in process of incorporating a Wholly-Owned Subsidiary Company namely "Mikusu India Private Limited". The wholly owned subsidiary shall carry out business in the field of Agro-Chemical.- positive
·         Affle India has received intimation from the wholly owned subsidiary Company, Affle International Pte. Ltd that all closing conditions with regard to acquisition of 28.33% shares of Appnext Pte. Ltd. have been completed.- positive development
·         Black Rose Industries have commenced commercial production of N-Methylol Acrylamide (NMA) at its manufacturing facility situated at Jhagadia, Gujarat, on February 21, 2022. The current installed capacity of NMA is 2000 MTPA.- positive                         
·         Marksans Pharma gets UK MHRA approval for Bells oral solution - positive
·         Wilmer sees sales volume for food products to grow - positive
·         MEP Infra wins Rs87.03cr highway projects - positive 
·         Bal Pharma Limited - Rating Upgraded by ACUITE, Upgraded to ACUITE BBB- stable from (ICRA) BB+ positive – Positive
·         KPI Global has received a new repeat order for executing solar power project of 7.50 MWdc capacity from M/s. Anupam Rasayan India Limited ("ARIL"), - positive
  Open / Comment

2022-02-23 06:06:22 ·         Tata Power in pact with Zaak Technologies for up cycling ash. The partnership between the PPGCL and ZaaK would create a new industry of sustainable construction material by reducing the consumption of precious natural sand resources.  - positive
·         Bank of India has said it can absorb any burden of marking down recapitalisation bonds issued in lieu of equity shares to the government without fresh capital infusion. The discounting, to be done by fair-value method, could halve the bonds' value to about Rs 1,500 crore.- Avoid
·         SIS Limited has been awarded a two-year contract valued at approximately Rs. 225 crores to provide security solutions at 18 sites of Mahanadi Coalfields located across India with an option to renew for a further one-year period.- positive
·         SJVN Arun- 3 Power Development Company, a subsidiary of SJVN Limited in Nepal, signed Term Loan Documents for drawl of Rs6333.40 crore Loan with the consortium of banks from India & Nepal – positive
·         Societe Generale on Tuesday offloaded shares of Housing Development Finance Corporation (HDFC) worth nearly Rs 1,730 crore through an open market transaction at an average price of Rs 2,436.8 a shares – we are long term positive.
·         Sun Pharma: The company’s subsidiary Taro Pharmaceuticals has signed a definitive agreement to acquire The Proactiv Company from Galderma for $90 million.- Positive
·         Nazara Technologies: The Rakesh Jhunjhunwala-backed gaming company will consider issuance of equity shares to shareholders of Datawrkz Business Solutions on preferential basis. – positive
·         Mahindra CIE: The company appointed Hari Krishnan as chief executive officer of forgings and billforge division, following Anil Haridass’s resignation from the post.- positive
·         Dilip Buildcon: The company has been declared as L-l bidder for the tenders floated by the National Highways Authority project worth Rs 1,141 crore.- positive
·         Adani Enterprises & Adani Power: Ballard Power announces MoU with Adani Group for hydrogen fuel cells in India. – positive
·         MEP Infrastructure: Wins Rs 87.03 crore highway toll collection project.- positive
·         Aurobindo Pharma: Promoter Group RPR Sons Advisors, P. Suneela Rani (jointly holding) revoked a pledge of 21.29 lakh shares on Feb. 18.
·         Jindal Steel & Power: Promoter Group Siddeshwari Tradex revoked a pledge of 9 lakh shares on Feb. 18.
·         Thomas Cook and its Group Company, SOTC Travel have introduced a range of holiday products across domestic and international destinations - with attractive prices and special offers/deals.- positive development
·         Wipro Limited announced that it has formed a joint go-to-market partnership with function, a Palo Alto-based startup that has developed a scalable, AI-based technology platform for modernizing Java applications and accelerating migration to the cloud.- positive
·         Mindtree Limited announced that it has been named a Leader in the Everest Group Duck Creek Services PEAK Matrix Assessment 2022.- positive
·         Century Textiles has approved NCD worth Rs250c – positive
·         Vedanayagam Hospital Private Limited has acquired 72.17% of Shiva Texyarn in aggregate of the Paid-up Share Capital of the Company and now holding company of Shiva Texyarn – Avoid
·         Isgec Heavy Engineering has commissioned its largest Biomass Boilers for a Bio Ethanol project in Thailand for GKBI through an EPC company, Sbang Corp. Ltd., Thailand. The scope of work included the setting up of 2 Biomass Boilers of 230 TPH capacity each operating – positive
·         7NR Retail has approved the sub-division of equity shares from the face value of Rs10 each to the face value of Re1 each.- Avoid
·         Hero MotoCorp has created a new position, titled Chief Growth Officer, integrating the Marketing, Sales and After-Sales functions. Ranjivjit Singh – who has been heading Marketing - is being elevated to this newly constituted role of Chief Growth Officer, with immediate effect.- positive Open / Comment

2022-02-23 06:06:22 News and Impact
 
·         Expects market to open on a positive note on account of some stability in the global equity market. US and European Union imposed limited sanction against Russia which may not be major impact in the global equity market.  However, intra-day volatility may continue as geopolitical risk of the Ukraine-Russian standoff is adversely impacting the global market, and India is no exception. Brent Crude surged to 7-year high at nearly $100/bbl and continued FIIs selling may negative impact in the market. However,  short covering may not be ruled out ahead February F&O series expiry tomorrow. Yesterday, India VIX, climbed up over 27% to 1-year high at 27.8. Upcoming Fed meeting and state election results are important factor in the market. FIIs were net sellers Rs3246cr while DIIs were net buyers Rs4109cr, Yesterday. Both US Future and SGX Nifty advance nearly half percent each.
·         Wall Street stocks fell Tuesday after President Joe Biden unveiled fresh sanctions on Moscow, while a surge in oil prices was limited by expectations the measures would not impact Russia's crude production. Dow Jones, Nasdaq Composite and S&P 500 declined over 1% each. US President Biden, in a White House speech, said the penalties on Russia would go "far beyond" existing sanctions and include moves against two Russian banks and to cut the country off from Western financing by targeting Moscow's sovereign debt. S&P 500 falls to correction over 10% declined in the last few sessions. 
·         U.S. equity futures rose Wednesday along with Asian stocks as traders reviewed the scope of Western sanctions imposed on Russia to assess geopolitical risks from the standoff over Ukraine. Hong Kong, Taiwan, South Korea and Australia Index gained quarter percent. Russia Index gained over 1% yesterday while intra-day declined by 10%. Japan market is shut today.
·         European equities ended a choppy session little changed as investors considered the extent of possible economic damage from tensions between Russia and the West over Ukraine. UK, Germany and France Index declined marginally at the end of the day.
·         Oil edged lower to $97/bbl after U.S. President Joe Biden unveiled sanctions that avoided the harshest restrictions against Russia, while progress in Iran nuclear diplomacy offered to bring some relief to tight global energy markets.
·         Gold held steady at $1900/ounce as investors weighed the severity of Western sanctions on Russia against prospects for tighter U.S. monetary policy.
·         Actionable -  Maruti, Mapmy India, Tata Motor, Nalco
·         Brokers Radar – HDFC TGT by Goldman at 3081
·         Events - Ex-dividend JBM Chemical Rs8.5, Nureca Ltd Rs3, MOIL Rs3, Sandesh Rs5, Polyplex Corp Rs35, Sanofi India results, 4th phase of Uttar Pradesh election
·         Market Summary - Crompton Greaves Consumer Electricals to acquire controlling stake in Butterfly Gandhimathi Appliances,  IndiaMART leads the Series B funding round of Logistics SaaS Platform Fleetx, Heranba Industries to set up subsidiary for Agro Chemical business, Black Rose Industries commences commercial production of N-Methylol Acrylamide, EasyTrip planners partners Toffee for travel insurance. Mahindra and Mahindra arm completes sale of stake in JV
·         Hero MotoCorp and BPCL join hands to set up charging infrastructure for 2-wheeled Electric Vehicles – positive
·         Crompton, a leading electrical consumer durables company in India, announces that it has signed definitive agreements on February 22, 2022 to: (a) acquire upto 55% stake in Butterfly, a company engaged in the manufacturing, marketing - Positive
·         Indian Hotel - Leisure Hotels Group partners IHCL-backed Ginger to open hotel in Greater Noida –positive
·         M&M had agreed to sell its entire stake aggregating 49% of the paid-up Equity Share Capital held in Mahindra Tsubaki Conveyor Systems Private Limited ("MTC") to Tsubakimoto Bulk Systems Corp., for a consideration of Rs. 58.89 crores.- positive Open / Comment

2022-02-22 07:04:22 ·         Dr. Reddy's Lab had earlier announced about the audit conducted by the USFDA at its formulations manufacturing facilities (FTO 7 & FTO 9) at Duvvada, Visakhapatnam. The Company has received the Establishment Inspection Report (EIR) from the USFDA indicating closure of the inspection.- expects volatile in the market
·         Snowman Logistics commissions temperature-controlled warehouse at Coimbatore – positive
·         Panacea Biotech announced that it would develop beta-coronavirus vaccines, jointly with Indian government and  Norway-based alliance Coalition for Epidemic Preparedness Innovations will provide up to $12.5 million (Rs200cr) to the consortium of the Translational Health Science and Technology Institute, an institute of the Department of  Biotechnology and Panacea Biotec. - positiv Open / Comment

2022-02-22 07:04:22 ·         Avanti Feed - India Ratings & Research has affirmed the credit ratings of Avanti Feeds Limited at IND AA- /Stable.- positive
·         Mangalam Organics Ltd has informed that "Mangalam Pooja Stores Private Limited" is incorporated as a new wholly-owned subsidiary of the Company – positive
·         KDDL Ltd - Ethos Limited, a material subsidiary of KDDL Limited, has entered into a contract with Messika group to be the exclusive partner and reseller for Messika Jewellery in India.- positive
·         FSN E-Commerce Ventures Limited (Nykaa) to expand into a new category by adding a whole new range of Day Moisturisers for Normal to Dry Skin. The formulation of the moisturizer is meticulously created to ensure high-performance efficacy. – Positive
·         Strides Pharma,  has received approval for Amantadine Hydrochloride Softgel Capsules USP,100 mg from the USFDA – Positive
·         Gems and Jewellary stocks Focus  – Titan - The Minister for Commerce & Industry Piyush Goyal today said the Gems & Jewellery sector is expected to achieve an export target of $40 billion this year. He said the sector is expected to register a growth of 6.5% over the pre-Covid levels – Positive for Titan, Kalyan Jewellers.
·         IDFC First Bank has approved the appointment of Dr. Jaimini Bhagwati as an Additional Director, in the category of Non-Executive Non-Independent Director of the Bank, for a period of 3 consecutive years with effect from February 18, 2022- Positive
·         Vikas Lifecare on Monday announced its latest from its’ Agro Products Business Segment wherein things are happening at an encouraging pace and management is confident of surpassing the targeted figures..- Positive
·         GMDC has received an amendment to its environment clearance from the Ministry of Environment and Forest to mine up to a depth of 135 meters from its earlier approved depth of 94 meters at the Tadkeshwar, Lignite Mines.- positive
·         Balrampur Chini - The Board of Directors of Balrampur Chini at its meeting held on February 18, 2022 has noted the resignation of Sumit Mazumder as an Independent Director and Chairman of the Board with effect from February 18, 2022.- expects volatile on the stock.
·         Sunteck Realty has acquired 99% of the equity stake in Rammit Corporate Solutions PVT by conversion of Optionally Convertible Debentures (OCDs) into equity shares. As a result of such conversion, Rammit and Prija Trading Private Limited, a wholly-owned subsidiary of Rammit, have become step-down subsidiaries of Suntech – positive
·         Crest Ventures  along with its Wholly Owned Subsidiary, i.e. Escort Developers PVT has proposed to dispose off its entire equity shareholding being 38,49,058 Equity Shares aggregating to 50% of the Equity Share Capital in its associate company, Classic Mall Development Company – Positive
·         Vishwaraj Sugar - The Board of Directors of Vishwaraj Sugar considered the rights issue to raise Rs150 crore.- positive
·         Repco Home Finance names K.Swaninathan as Managing Director - positive
·         Affle India has received intimation from the wholly owned subsidiary Company, Affle International Pte. Ltd that all closing conditions with regard to acquisition of 28.33% shares of Appnext Pte have been completed.- positive
·         Black Rose Industries commences commercial production of N-Methylol Acrylamide – positive
·         IIFL Finance has signed a USD 68 million loan with ADB to improve financial access to affordable green housing for lower-income groups in India.- positive
·         Capri Global plans to enter the gold loan business. The company will launch this business in the first half of the financial year 2022-23. The company aims to build a gold loan book size of Rs. 8,000 crore and expand its network with 1500 branch locations over the next five years.- positive Open / Comment

2022-02-22 07:04:22 ·         Vedanta has notified the oil discovery in its second exploratory well in RJ-ONHP-2017/1 block in Barmer district of Rajasthan state - positive
·         Monsoon Seen ‘Normal’ in 2022 - India's largest weather monitoring company Skymet expects the upcoming monsoon to be ‘normal’. Skymet will release a detailed report on the prospects of monsoon in April - Expects positive for FMCG (Hindustan Unilever, Marico, Pidilite), Auto (Maruti, M&M, Escorts) and Fertilizer stocks (Chambel Fertilizer, RCF, Deepak Fertilizer)
·         Bharti Airtel joins the SEA-ME-WE6 undersea cable consortium, in its bid to scale up its high speed global network capacity.  The 19,200 route kilometre SEA-ME-WE6 will connect Singapore and France and will be amongst the largest undersea cable systems globally - Positive
·         HFCL and research & academic institutions operating in the Radio Access Network (RAN)industry. O-RAN ALLIANCE's mission is to re-shape the RAN industry towards more intelligent, open, virtualized and fully interoperable mobile networks - positive
·         BoB - Bank of Baroda and IRCTC have come together to launch the IRCTC BoB RuPay Contactless Credit Card. The card is specially curated to offer maximum savings to frequent railway travellers.- Positive
·         TCS launches digital garage innovation centre in Sydney. The innovation and digital collaboration centre is the first such center in Asia-Pacific. The research hub is designed to focus on innovation, increasing speed to market and work on creative solutions. It will provide access to the TCS global ecosystem of academics, start-ups and technology providers. – positive
·         NHPC -  The firm said its 120 MW Sewa-II power station in Mashka in Union Territory of Jammu and Kashmir has resumed power generation.- positive
·         Krsnaa Diagnostics - Himachal Pradesh gave an order to Krsnaa Diagnostics for providing diagnostic and laboratory services in the state – positive
·         7NR Retail -  The company has approved the sub-division of equity shares from the face value of Rs 10 each to face value of Re 1 each.- Avoid
·         Adani Enterprises: Adani in Pact With Ballard Power for Hydrogen Fuel Cells - positive
·         Tata Power -  Germany’s RWE and Tata Power have signed an MoU for joint development of offshore wind projects in India. Pact comes as the government has announced setting up 30 GW of offshore wind installations by 2030 to meet the country’s growing power demands.  - positive
·         Reliance Jio Infocomm will land the next generation multi-terabit India-Asia-Xpress (IAX) undersea cable system in Hulhumale, Maldives.  The high capacity and high speed IAX system will connect Hulhumale
·         directly with major internet hubs in India and Singapore. - positive
·         L&T Finance block deal - Citi Group sells 5.78cr L&T Finance shares at Rs71.35 a share. BNP Paribas buys 5.78cr shares at Rs71.35 a share  - we are long term positive
·         Adani Transmission's long-term issuer default rating was affirmed by Fitch at BBB-. Outlook remains negative.- Avoid
·         Welspun India to consider the issuance of Debentures, Commercial Papers or any other form of borrowing up to Rs. 500 crore and consider approaching shareholders accordingly as may be required.- Positive
·         Ion Exchange India has received approval from NSE for listing on February 18, 2022. - positive
·         TGV SRAAC approves proposal to set up 5 MW solar power plant – Positive
·         Suumaya Industries Ltd an emerging diversified conglomerate group has announced a 1:1 bonus issue rewarding the shareholders on Strong Reserves and Performance for FY22. Suumaya Industries has evolved itself into a significant player within the Agri Value chain. – positive
·         Intellect Design launched iColumbus.ai, named after the pioneer whose discoveries eventually opened up the world to truly global international trade- positive Open / Comment

2022-02-22 07:04:22 News and Impact
 
·         Expects market to open on a weak note on account of global cues. Across the global markets decline sharply due to geo-political tension between Russia and Ukraine. Gold price spiked to 14-month high of above $1900/ounce and Brent Crude surged by 4%.  SGX Nifty nosedived 200 points (1.2%) and US Dow Future declined by 500 points after Russian President Vladimir Putin signed a decree recognizing the self-proclaimed separatist republics in eastern Ukraine.  The market could not stretch the direction and turned negative as uncertainty in the global markets expected to be continued. Traders avoid bargain hunting in the market after the media report that the Security Council may impose sanction against Russia. The market is expected to be volatile due to the upcoming Fed meeting, geo-political tension and state election results. FIIs were net sellers Rs2262cr while DIIs were net buyers Rs2392cr yesterday.
·         Russian stocks plummeted in turbulent trading on Monday (down over 10%), on mounting concern that Moscow could soon launch an invasion of Ukraine. In an impassioned speech on Monday, President Vladimir V. Putin said he would recognize the independence of two Russia-backed territories in eastern Ukraine, while also making the case that Ukraine itself is historically an integral part of Russia.
·         European stocks closed at their lowest level in four months as investors weighed geopolitical risks from continuing tensions between Russia and Ukraine. Both Germany and France Index slipped 2% each. UK  Index declined half percent.
·         Asian market like Japan, Taiwan, Australia, South Korea Index fell 1-2% as tensions between the West and Russiaover Ukraine again intensified.
·         Gold price spiked to 14-month high of $1408/ounce after Russian President Vladimir Putin signed a decree recognizing the self-proclaimed separatist republics in eastern Ukraine, intensifying a standoff
·         with the West.
·         Oil prices rose 3% to $97/bbl and stock markets around the world sank on Monday amid rising concerns of a Russian invasion of Ukraine
·         Actionable - Vodafone - Idea
·         Brokers Radar - CLSA TGT on Wipro at 650, JP Morgan cut to neutral by JP Morgan at 3800, ITC TGT by JP Morgan at 250, Tata Consumer TGT by JP Morgan at 785, Colgate TGT by JP Morgan at 1580, HUL TGT by JP Morgan at 2600 and Godrej Consumer TGT by JP Morgan at 965, Dabur India TGT by JP Morgan at 620.
·         Events – Supreme Court verdict on one time spectrum charge, Oil India Rs5.75, TCS final day of share BUY-Back, SBC Exports bonus 1:1 and stock split 1:1, Garden Reach Rs5.95, MSTC Rs6.5, Mayur Uniquoters share buy-back meeting, Akzo Nobel Rs40, Hinduja Global bonus 1:1 and dividend Rs28, NHPC Rs1.31, NLC India Rs1.50
·         Market Summary - Govt to hire adviser to  manage  Voda-Idea equity conversion, Recovery most important thing we are focusing on, says finance minister, Bharti Airtel Joins SEA-ME-WE6 Undersea Cable Consortium To Scale Up High Speed Network Capacity, HFCL announced that it has joined the O-RAN Alliance, TCS introduces digital Garage innovation center in Sydney, RWE, Tata Power Sign Pact For Offshore Wind Projects In India, Reliance Jio's Subsea Cable System India-Asia-Xpress To Connect Maldives Directly To India & Singapore, IRCTC partner Bank of Baroda Financial for Rupay Card. Monsoon Seen ‘Normal’ in 2022, Forecaster Skymet Says, Indian Government, Panacea Biotech To Jointly Develop Beta-Coronavirus Vaccines. Vedanta Makes Oil Discovery in India’s Rajasthan Block.
·         Voda-Idea - The government will hire a transaction adviser to help manage the conversion of interest dues related to deferred spectrum payments and adjusted gross revenue into equity in Vodafone Idea. Vodafone Idea proposed the government convert interest dues amounting to Rs16,000 crore for a 35.8% stake in the struggling operator. – Positive Open / Comment

2022-02-21 10:54:09 Mahindara holidays @217 tgt240++ sl205 Open / Comment

2022-02-21 09:44:25 Mahindara holidays @217 tgt240++ sl205 Open / Comment