SKM INVESTMENT

2021-09-17 07:18:03 Dynacons system (dssl)@145 tgt180++ sl130 Open / Comment

2021-09-17 05:31:46 · Capri Global Capital: Shareholders approved raising of funds through issuance of equity or equity linked securities aggregating up to Rs 1,500 crore.- positive

· Precision Camshafts Limited has retrofitted a mid-size passenger AC Bus into 100% electric Bus – Positive

· Lupin Labs agreed to settle the lawsuit in the U.S. alleging that the 2012 settlement of patent litigation regarding Glumetza, a drug for diabetes treatment, delayed the availability. Lupin will pay the plaintiffs of the law suit, $150 million to Direct Purchaser Group and $98 million to the Retailer Opt-Out Group, subject to court’s approval - We are long term positive

· Dilip Buildcon received letter of acceptance (LoA) for new HAM project in the state of Andhra Pradesh. The bid project cost is Rs 1,060 crores - Positive

· SBI has announced that as part of its festive season offering it will be offering credit score linked home loans at 6.7%, irrespective of the loan amount, earlier a borrower availing a loan greater than Rs 75 lakh, had to pay an interest rate of 7.15%; now with the introduction of the festive offers, a borrower can avail home loan for any amount at a rate as low as 6.7%.- Positive

· BHEL announced the commissioning of India's largest floating solar photovoltaic plant in Andhra Pradesh, the 25-megawatt floating SPV project covers an area of 100 acres,- Positive but poor fundamental is a concern - Positive

· M&M Financial announced entry into vehicle leasing and subscription business under the brand name ‘Quiklyz’ - Positive

· Easy Trip Planners expanded its international footprint by incorporating wholly-owned subsidiaries in the Philippines, Thailand and the U.S. as part of the phase 2 of the expansion strategy.- Positive

· Poonawalla Fincorp - Markets regulator Sebi restrained eight individuals including the shadow bank’s Managing Director Abhay Bhutada from participating in securities markets over alleged insider trading in the company’s shares in February. – Avoid

· Saregama India approved raising of funds by further issue of securities by way of private placement or preferential issue or public issue, for an aggregate amount of Rs 750 crore. – Positive

· Shriram Transport - Fitch Ratings has revised the outlook on Shriram Transport Finance's long-term foreign and local-currency issuer default ratings (IDR) to stable from negative.- Positive

· Dalmia Bharat Sugar and Industries Ltd has launched 'Dalmia Utsav Honey', a FMCG product, on September 15, 2021. - Positive

· Moratorium on AGR dues: Banks may have some relief on telecom exposure for now - The Union Cabinet announced a moratorium of four years for the payment of the Adjusted Gross Revenue (AGR) dues, providing a relief to the debt-strapped telcos - Eight top banks led by SBI have large exposure to the telecom firm. In terms of percentage to book, SBI has around Rs 11,000 crore exposure to Vodafone Idea which constitutes 0.5 per cent of its loan book, PNB has around Rs3000 crore exposure to Vodafone Idea which constitutes 0.5 per cent whereas IDFC First has Rs 3,240 crore exposure which is around 3 per cent of the loan book. Others include Yes Bank (Rs 4,000 crore or 2.4 percent of the book), PNB (Rs 3,000 crore or 0.5 percent of the loan book), Axis Bank (Rs 1,300 crore or 0.2 percent of the loan book), ICICI Bank (Rs 1,700 crore or 0.2 percent) and HDFC Bank (Rs 1,000 crore or 0.1 percent). Open / Comment

2021-09-17 05:31:46 · Kotak Mahindra Group Acquires Vehicle Financing Portfolio of Volkswagen Finance and Kotak will gain access to more than 30,000 customers with a total loan outstanding of about Rs 1,340 crore– Positive

· Biocon Biologics, a subsidiary of Biocon Ltd. and Serum Institute Life Sciences Private Limited (SILS), a subsidiary of Serum Institute of India Pvt. Ltd. today announced a strategic alliance. – Positive

· M &M restructures its Farm Equipment business in Turkey – M&M announced that its subsidiary Erkunt, will acquire the Agriculture Machinery business from Hisarlar Makina Sanayi, also a subsidiary of the company. As part of the restructuring its subsidiaries in Turkey, Mahindra Group will exit Hisarlar's Metal Fabrication business – Positive

· Cosmo Films has approved the proposal for setting up of new production line for BOPP Film at Aurangabad, Maharashtra with rated capacity of 67KL MT annually about Rs350cr projects and estimated to be commissioned by 2024-25 and announced interim dividend Rs25 a share – Positive

· KPIT Technologies Ltd appoints Ms. Bhavna Doshi as additional director – Positive

· Mahindra Lifespaces appoints Jitesh Donga as Chief of Design – Positive

· PG Electroplast Ltd arm applies for DPIIT under PLI for White Goods – Positive

· Federal Bank - CARE Ratings has assigned 'CARE AA; Stable' Rating in respect of The Federal Bank Limited's 'Basel III - Tier II Bonds' of Rs. 500 Crores – Positive

· Action Construction – Company to expand business in the Defence Sector and developed an indigenous Special Low Silhouette Knuckle Boom Crane for DRDO, Ministry of Defence (MoD). Company received a letter of Intent from Tata Advanced Systems for manufacturing and supply of the said cranes – positive

· Lincoln Pharma - NCLT approves the scheme of amalgamation of Lincoln Parenteral Ltd and Lincoln Pharmaceuticals - Positive

· Focus on Infra stocks (IRB Infra, L&T) - Delhi-Mumbai Expressway to be completed in 2 years, Nitin Gadkari reviews progress. Delhi-Mumbai Expressway, which will be India's longest expressway with 1380 kilometres length will be completed in two years.

· Sunteck Realty, plans to develop a 50-acre land parcel at Shahad (Kalyan) and the company seesRs9000cr revenue from new project in 7-8 Years - Positive

· Aptech announced the launch of EdTech segment with its latest brand - ProAlley.com – Positive

· JSW Steel: The company has raised $1 billion by issuing sustainability-linked bonds in the offshore market. – Positive

· Hindustan Copper OFS: Offer for sale for non-retail investors gets 141% demand as compared to the shares on offer. Demand at indicative price of Rs 116.12 per share. Today OFS on Retail segment at Rs116.12 - Avoid

· Ujjivan Small Finance Bank: RBI has approved the constitution of “Special Committee of Directors” with three independent directors as its members, to oversee the operations and administration of the bank in the absence of the Managing Director and CEO w.e.f. September 16, 2021. – Positive

· Indiabulls Housing Finance: The company has approved Rs 231.48 per foreign currency convertible bond as the floor price for a $200 million issue that opened on Thursday. – Positive

· KEI Industries: ICRA as upgraded the rating of the long-term bank facilities to AA-/Stable from A+ and the rating of short-term bank facilities to A1+ from A1. – Positive

· Mangalore Chemicals : Board has approved the appointment of Shubhabrata Saha as a Managing Director for a term of five years effective September 16. Intellect Design Arena: The company has signed a multiple-year digital transformation deal with Resurs Bank, a Nordic bank with market leadership in sales finance business.

· NCL Industries: CRISIL has upgraded the long-term and short-term ratings of the company's bank loan facilities of Rs 396 crore to A/Stable from A- and A1 from A2+ respectively. – Positive Open / Comment

2021-09-17 05:31:46 News and Impact



· Expects market to open on a positive note on account of strong domestic cues and positive opening in the Asian market. US stocks ended mostly lower despite paring earlier losses Thursday as investors weighed an unexpected jump in retail sales (speculation that the US Fed may start paring back stimulus soon) against an increase in weekly jobless claims. Both Dow and S&P 500 declined 0.2% each. Expects higher intra-day volatility in the US market today ahead of expiration of options and futures, a quarterly event that usually brings increased volume and volatility. The 10-year US Treasury yield rose 3 basis points to 1.34%. SGX Nifty is up 0.5% while Dow Future declined 0.1%

· European stock markets closed higher on Thursday as investors watched economic data and as travel stocks rose 8% after airlines major Ryanair raised its long-term traffic forecast. UK, Germany and France Index gained quarter to half percent.

· Asian stocks were steady early Friday as traders weighed risks from China to the global recovery and the prospect of reduced Federal Reserve stimulus. Equities in Japan and Taiwan Index gained modestly while Hong Kong and South Korea Index declined nearly half percent each.

· Brent Crude declined marginally to $75/bbl after the global crude benchmark eked out a fresh, roughly seven-week high. The market appears to be undersupplied now, partly due to still existing OPEC+ production restrictions.

· Gold and silver dropped to the lowest in more than a month as Treasury yields and the dollar gained after stronger-than-expected U.S. retail sales added to speculation that the Federal Reserve may start paring back stimulus soon. Gold slipped 3% to $1756/ounce.

· Continued monetary policy support by the government, reforms in telecom and Banking sectors, the opening up of the economy and strong macro data will be positive for the market sentiment. FIIs were net buyers Rs1622cr while DIIs were net sellers Rs795cr

· Events – GST Council meeting at 11am, CESC stock split from Rs10 to Re1, Ex-dividend – Ester Industries Rs1.90, Indoco Remedies Rs1.50, KDDL Rs1.50, Mahanagar Gas Rs14, Ratnamani Metal Rs14.

· Actionable - BUY Bank of Baroda, BSE Ltd, M&M Finance, Apollo Hospital, SBI, PNB, BoI

· Market summary - Sunteck Realty to develop 50-acre residential project in Mumbai suburbs, Dilip Buildcon received letter of acceptance (LoA) for new HAM project, BHEL commissions floating solar PV plant, M&M Finance Forays Into Vehicle Leasing & Subscription Biz With ‘Quicklyz’, SBI cuts home loan interest rate to 6.7%, FM announces sovereign guarantee for 'bad bank' worth Rs30,600cr, Hero Motocorp to Increase Prices of Motorcycles, Scooters.

· Infosys - Frost Bank Selects Infosys as Strategic Partner to Launch New Mortgage Loan Product Offering - positive

· Focus on PSU Banks (SBI, PNB, BoB, BoI)- FM Nirmala Sitharaman announced a formal government guarantee on the securities receipts that the planned ‘bad bank’ will issue to banks as it takes on non-performing assets from their books. The government guarantee will be Rs30,600 crore, she said. State Bank to own 51% of India new bad bank and India Bad Bank govt. guarantee for five years - Positive for PSU Banks

· Balkrishna Industries - Company commenced the trial production at Green Field Project located - Aurangabad, Maharashtra with an Installed capacity of 30,000 MTPA along with warehousing facility for raw materials and finished goods - Positive

· Hero Motocorp increase price of motorcycles and scooters by up to Rs3000, price increase, effective Sept. 20 - Positive

· TVS Motor Buys Majority Stake In European Electric Bike Maker - TVS Motor Company forays into the personal e-mobility business with a majority stake in European e-bike brand EGO Movement – Positive Open / Comment

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