SKM INVESTMENT

2022-02-21 07:13:31 FMGOETZE @233 TGT260++ SL215 Open / Comment

2022-02-21 05:46:51 ·         Hinduja Global announced that its subsidiary HGS UK Limited has been selected by the UK Health Security Agency to provide critical customer support to UK citizens for an initial period of two years, with an option to extend further. – positive
·         Vedanta - Sterlite Brazil Participações S.A., a subsidiary of Indian company Sterlite Power Transmission, a company that develops transmission projects, completed the Vineyards project in Rio Grande do Sul. The third and last stretch of transmission line has 49km between the substations of Bagé2 and Candiota2, at 230 KV.- positive
·         SBI hikes rates on fixed deposits by 10-15 bps on tenors above 2 years to 10 years – positive
·         White Organic Retail Ltd (WORL), an integrated Organic Foods player offering end-to-end solutions to its customers. The company has built a robust value chain right from contract / leased farming to supply chain management to direct consumers. – positive
·         Tata Power - Ind Ra affirms Tata Power Company's long-term issuer rating at 'AA' with Stable outlook – positive
·         Jagsonpal Pharmaceuticals has entered into an agreement with Suvinys Developers PVT for the Supply of Product Dydrogesterone. Suvinys Developers will supply Dydrogesterone to Jagsonpal Pharma as per the terms and conditions mentioned in the agreement. – Positive
·         Birla Corporation raises Rs150 crore through allotment of NCDs – positive
·         Rama Phosphates acquires land for new project in Maharashtra – positive
·         Adani Green - Ind Ra affirms Adani Green Energy's long-term issuer rating at 'A+/Stable' – positive
·         ICRA LTD as appointed Ms. Shivani Priya Mohini Kak as an Additional Director under the category of "Non-Executive and Non-Independent Director". Her appointment shall be effective from February 18, 2022.- Positive
·         Datamtics Global Services completes 2.58% stake acquisition of Datamatics Staffing Services – positive
·         Infosys Springboard launch in the U.S. to increase access to 21st Century digital skills and opportunities – positive
·         Torrent Power CRISIL Limited has upgraded the long-term credit rating of non-convertible debentures and long-term bank facilities of Torrent Power Limited (TPL) to ‘CRISIL AA+/Stable’ from ‘CRISIL AA/Positive – positive
·         Hero MotoCorp inaugurates its new state-of-the-art dealership in Jaipur – positive
·         3i Infotech incorporates new subsidiary in Malaysia through Singapore based arm – positive
·         Hindustan Adhesives further invests in Bagla Tecvision – positive
·         NBCC (India) has awarded orders worth Rs100cr work for Development of Science Academy in Panikoili Area, Jajpur and others - positive
·         Mahindra Holidays to sell stake in Nreach for Rs. 29.31 crore. The Company had invested in Nreach Online Services PVT in October. Nreach is neither an associate nor a subsidiary company and hence, it does not impact turnover or revenue or income of the Company.- positive
·         Royal Orchid Hotels has acquired the remaining 50% stake in Cosmos Premises PVT from Vascon Engineers Limited and now become a 100% subsidiary of Royal Orchid - positive
·         Brightcom Group Ltd fixes March 16, 2022 as record date for 2:3 bonus issue - positive
·         Kabra Extrusiontechnik Limited (KET), will be supplying the advanced range of lithium-ion battery packs with smart batteries designed by BGauss for its range of high-speed e-two-wheelers. - positive
·         Gensol Engineering clinches deals worth over Rs. 70 Crores from Punjab and Madhya Pradesh – Positive
·         Confidence Petroleum - Essenn LPG Bottling (promoter group) has acquired 1.65 lakh equity shares or 0.06% stake of Confidence Petroleum through open market purchase during the period Feb 14, 2022 to February 16, 2022 - posit Open / Comment

2022-02-21 05:46:51 ·         Equitas Small Finance Bank raised Rs550cr from a clutch of institutional investors including the Government of Singapore and the Monetary Authority of Singapore at Rs53.59 per share with the Government of Singapore picking up 28.04% of the total issue worth Rs150, 1.5 billion rupees. Local investors including Nippon Life India Trustee, SBI Mutual Fund, ICICI Prudential, HDFC Mutual Fund and HDFC Trustee
·         Company also invested in the qualified institutional placement of equities. The issue opened on Feb. 14 and closed on Feb. 18.
·         Hinduja Global: Wins $281 Million U.K. Test-and-Trace Contract. – positive
·         Godawari Power & Ispat: Gets into agreement to sell 50 MW (CGEL) solar thermal power plant for Rs 665 crore.- positive
·         Goa Carbon - Operations resumed as St.Jose De areal Goa unit - positive
·         Gulf Oil Lubricant announced share buy-back up to 2.8% equity - Avoid
·         Vedanta has earmarked USD 15bn for foray into the electronic chip and display manufacturing space, and plans scale up the investment to as much as USD 20bn - positive
·         Kansai Nerolac names Anuj Jain as MD effective from April 1 - positive
·         Lupin received U.S. FDA approval for its supplemental new drug application to expand the use of secnidazole drug.- positive
·         Coal India will increase output from 2.3 million a day currently, the state-run miner says.  It aims to scale up its supplies to the regulated power sector to 548 million tons in the current financial year to March, a 23% increase compared with 445 million last year. - positive
·         Future Retail: The company has paid $14 million as interest for the half year on 5.60% Senior Secured Notes (USD). The company had missed the payment that was due on Jan. 24. – Avoid
·         Gujarat Mineral Development: The company 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
·         Inox Wind: Promoter Inox Wind Energy created a pledge of 18 lakh shares on Feb. 15.
·         Visaka Industries: Vigilance Security Servie sold 25 lakh shares, equivalent to 1.51% stake, at the price of 635.33 a share.
·         India Infrastructure Trust: Tata Investment Corp. purchased 40 lakh (0.6%) units at Rs 98 a share . Rapid Holdings 2 PTE sold 64 lakh (0.96%) units at Rs 98 a share
·         NHPC Incorporates Renewables Unit - This company will be involved in the development of renewable energy, small hydro and green hydrogen projects.- positive
·         KBC Global commences construction work of residential project in Nashik. This project would help the company to build 180 residential units and is expecting to generate Rs60cr from this projects.
·         KDDL, material subsidiary, Ethos Limited has entered into a contract with Messika group to be the exclusive partner and reseller for Messika Jewellery in India.- positive
·         IOC raises Rs1500 crore through issue of unsecured debentures (series - XXI) on private placement basis – positive
·         HDFC Bank raises fixed deposits rates by 5-10 basis points and Srikanth Nadhamuni resigns from HDFC Bank – we are positive on the stock
·         Godawari Power and Ispat to sell its stake in Godawari Green Energy – positive
·         WardWizard Innovations and Mobility (BSE Code: 538970) - a leading manufacturer of electric two-wheeler brand 'Joy e-bike' - launched two new 'Made-in-India' high-speed scooters – positive
·         Greenply Industries engaged in the manufacturing of plywood and allied products, has appointed Nitin Kalani as its Chief Financial Officer (CFO). He will report to the Joint Managing Director and Chief Executive Officer, Manoj Tulsian.- positive Open / Comment

2022-02-21 05:46:51 News and Impact
 
·         Expect market to open on a soft note on account global cues. Uncertainty around the Russia-Ukraine situation and concern of US Fed to hike interest rate much higher than anticipation may negative impact in the market. Moreover continued FIIs selling and rising oil price may dampen the market sentiment. FIIs were net sellers Rs2530cr on Friday while net sellers nearly Rs22000cr by FIIs during the month of February. Traders apply caution approach and avoid bargain hunting till clear trend emerges. Expect tension between Russia-Ukraine to continue till any new development between US-Russia. Russian market fell over 3% o Friday. SGX Nifty slipped 135 points or 0.7% while US Dow Future is up nearly half percent. US market is shut today
·         Asian stocks opened lower on Monday as worries lingered over Ukraine tensions and US rate-hike plans. Japan, Australia, Taiwan, Hong Kong and South Korea Index declined between half to one percent.
·         US stocks fell and ended on a second consecutive week on account of geo-political tension between the West and Russia as well as worries about the Federal Reserve’s next policy steps. The U.S. said Russia has massed as many as 190,000 personnel in and around Ukraine, calling it the most-significant military mobilization since World War II. Russia told the U.S. this week it has no plans to attack. Dow, S&P 500 and Nasdaq Composite slipped 1% each
·         European stocks ended in red amid rising tensions between the Ukraine and Russia and a further decline in the European consumer confidence this month. Germany's DAX was down 1.5%. The FTSE 100 in the UK and France's CAC each dipped 0.3%.
·         Gold and Brent Crude - Oil advanced along with gold on intensifying tensions over Ukraine, with the U.S. stepping up warnings of an imminent Russian attack. Brent Crude advance 2% to $94/bbl. Gold surged 1% to $1896/ounce while it has touched fresh intra-day high of $1908/ounce.
·         Actionable -  L&T, Muthoot Finance, TCS, Ashok Leyland
·         Brokers Radar - Ambuja Cement TGT by CLSA at 390, JP Morgan TGT on Bajaj Auto at 400
·         Events – US Market shut today, Ex-dividend – India Nippon Rs6.25, Coal India Rs5, SJVN Rs1.15, Hero Motocorp Rs60, JBM Auto stock split from Rs5 to Rs2, Sundaram Fasteners Rs6.45, ONGC Rs1.75. Cummins India Rs8, Cochin Shipyard Rs7, Metropolis Rs8 and MTAR Tech Rs3
·         Market Summary - Gangwal Resigns From IndiGo Board, Plans to Cut Stake Gradually, Vedanta to invest up to USD 20 bn in semiconductor biz in India, roll out by 2025 , Lupin Receives U.S. FDA Nod For Secnidazole, Coal India to Scale Up Output to 2.6M Tons/Day in March. Ashok Leyland mulls separate plant for Evs, Kalpataru Power board okays JMC Projects merger swap ratio of 1:4 shares, Equitas Small Finance Bank Raises Rs550cr via Institutions, FM to visit financial capital Mumbai.
·         IndiGo - Rakesh Gangwal, a co-founder of InterGlobe Aviation, has resigned from the company’s board, effective immediately. Gangwal plans to “slowly” lower his stake in the airline over more than five years – Negative
·         TCS – TCS focus today as ex-date of share buy-back today at Rs4500 a share (CMP Rs3800)
·         Ashok Leyland plans to set up a new manufacturing facility in the country to roll out electric vehicles Company has also lined up a Rs 500 crore investment to develop powertrains based on alternative fuels
·         like CNG, hydrogen and electric for its commercial vehicles range. – positive
·         Federal Bank Financial plans to raise Rs900cr through the sale of new shares in an initial public offering in India, according to a draft prospectus.- positive
·         Kalpataru Power - The board of directors of Kalpataru Power approved the merger of JMC Projects (India) with itself in a swap ratio of one share of Kalpataru Power for every four shares held by JMC shareholders. The merger is expected to be completed in Q4FY23 – Positive. Open / Comment

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