SKM INVESTMENT

2021-09-09 07:38:48 Jswispl @36 tgt45++ sl30 Open / Comment

2021-09-09 06:53:56 Venus remidies 488 tgt520 ++ sl475 positional Open / Comment

2021-09-09 06:53:28 Nitinspin@224 tgt250++ sl210 Open / Comment

2021-09-09 05:37:54 Dish TV owes over Rs 6,000 crore to banks – Avoid Yes Bank and Dish TV on account of poor balance sheet.

· Subsidy increase for phosphatic fertilisers critical to ensure availability of fertilisers in the upcoming rabi season: ICRA - The systemic inventory of phosphatic fertilisers in the Indian markets has dipped sharply, which is a cause of concern for the upcoming rabi season. This was driven by a decline in imports, driven by elevated international prices and limited availability in the international markets, while domestic demand remained stable. Major phosphatic fertilisers companies likely to be benefit Coromandel International, Tata Chemical, Chambal Fertlizer, GSFC, GNFC, Deepak Fertlizer, NFL, Zuari Agro.

· PLI scheme: Voltas, Blue Star among AC biggies planning to invest Rs3,000 crore – Focus on AC Players - Expects positive for AC players after the news that the Voltas, Blue Star, Dixon, China’s GMCC, Amber Enterprises, Panasonic, Lloyd and Hindalco are set to apply for the government’s production-linked incentive (PLI) scheme for air-conditioner components, bringing immediate investments of more than Rs3,000 crore, multiple industry. Open / Comment

2021-09-09 05:37:54 · HDFC Life Insurance: The private life insurer will seek shareholders' approval later this month for the issuance of preference shares to Exide Industries in the Rs 6,687-crore deal to acquire Exide Life. – We are long term positive on HDFC Life and Exide

· Ceat: The tyre maker said it has initiated an exercise to revamp its retail sales network to enhance customer experience. The company said it would be revamping Ceat Shoppes nationwide, which will start with 10 new design stores in metro cities and key markets in the coming months. – Positive

· Somany Ceramics opens its 2nd exclusive store in Vadodara and 12th in Gujarat – positive

· Cars24 expects the global semiconductor shortage to boost its business as automakers are forced to scale back output due to a lack of chips. CAR-Trade sees chip crisis driving demand for used cars. Company sees chip shortage hurting new car production over 6 months – Positive

· Aluminum Stocks - Directorate General of Trade Remedies has proposed an anti-dumping duty ranging between $65-$449 per ton on certain flat-rolled aluminum being imported from China – Positive for Hindalco and Nalco

· Olectra Greentech intended to expand capacity to 10,000 buses per year and to enter inter-city/inter-state private transport segment and staff transport private segment. The company also signing an MoU committing an investment of Rs 300 crore. The company has a total market share of 41% in FAME 1 & FAME 2 Electric Bus Tenders and NON FAME Electric Bus Tenders – Positive

· Godawari Power board to consider bonus shares issue on Sept 14 board meeting – Positive

· Caplin Point subsidiary Caplin Steriles was granted final approval from the U.S. FDA for its Abbreviated New Drug Application (ANDA) Labetalol Hydrochloride Injection. The injection is used to control blood pressure in patients with severe hypertension – Positive

· VIP Industries makes timely payment of interest of NCDs worth Rs50cr – Positive

· Delta Corp subsidiary to resume casino operations in Kathmandu – Positive

· R S Software acquires stake in its Indian subsidiary – Positive

· HDFC Bank signs MoU with National Small Industries Corp to offer credit support to MSMEs – positive

· VSFIL embarks on Green Initiative by setting up 2 MW Solar Power Plant – Positive

· Adani Power has emerged as the successful bidder for the commercial mining of Gondkhari coal block in Maharashtra, Adani Power – Positive

· Focus on Hotel Stoocks - Travel technology firm Oyo has begun talks with JPMorgan, Citi and Kotak Mahindra Capital to manage its IPO, Business Standard reports. Oyo is expected to raise between $1.2b-$1.5b at a valuation range of $14b to $16b.

· LIC IPO - Goldman, JPMorgan Among 10 Banks Selected for LIC of India IPO, ICICI Securities, DSP Merrill Lynch and JM Financial are also among the banks hired to manage India’s biggest initial share sale, according to the information released by the Disinvestment Ministry on Wednesday.

· August Mutual Fund Data - Equity mutual funds see net inflow of Rs 8,666.68 crore in August compared with an inflow of Rs 22,583.5 crore in July. Multi-cap funds: Outflow of Rs 17.5 crore vs inflow of Rs 164.6 crore in July. Large-cap funds: Outflow of Rs 78.6 crore vs inflow of Rs 593 crore in July, Total net inflow of Rs 32,976.21 crore vs inflow of Rs 1.1 lakh crore and Average AUM: Rs 36.09 lakh crore in August vs Rs 35.1 lakh crore in July.

· Dish TV - Yes Bank move to seek change in directors, MD of Dish TV followed concerns around governance standards, according to people familiar with the matter. Yes Bank has concerns over Rs 1000 crore rights issue announced in June. Bank believes board is unfit. Yes Bank expects support of other large shareholders for its proposal. Bank move is intended to protect the value of collateral. Attaching property and other assets to recover dues was not seen as enough. Open / Comment

2021-09-07 05:22:55 · CARE Ratings has assigned CARE BBB-; Stable (Triple B Minus; Outlook: Stable) for the Non-Convertible Debentures – Avoid

· PVR Ltd opens 3 Screen multiplex in Jamnagar at 'JCR The Entertainment World', Gujrat – positive

· Ester Industries Limited's rating outlook revised to 'Positive', ratings reaffirmed – positive

· WABAG secures order in Malaysia for PETRONAS Refinery & Petrochemical Corporation worth $11.45mn – positive

· Fitch Affirms Bharat Petroleum at 'BBB-'; Outlook Negative - Any decline will be buying opportunity.

· Real Estate developer TARC Ltd. announced the successful completion of the

· sale of its warehousing asset in North Delhi to BREP Asia II EIP Holding worth Rs295cr - Positive

· Ashoka Buildcon received LoA From Adani Road Transport For EPC Project In West Bengal worth Rs1567.5cr

· IRCTC - Indian Railways for the first time has introduced AC 3-tier economy

· class coach with reduced fare - Positive

· Parsvnath Developers Relaunches Parsvnath City Project In Jodhpur - Avoid on account of poor balance sheet.

· Gold holds near 2-1/2-month high on prospects of Fed taper delay ...Positive for Gold Finance stocks - Expects positive for gold finance stocks like Muthoot Finance and Manappuram Finance as Gold prices spiked to over 2-month after a disappointing U.S. jobs data signaled that the Federal Reserve could push back the timeline for tapering stimulus measures, bolstering bullion's appeal as an inflation hedge. Open / Comment

2021-09-07 05:22:55 · Triveni Turbine: Due to multiple disputes for over two years amongst joint venture partners, Triveni Turbine and DI Netherlands BV and Baker Hughes and its affiliates, General Electric Company and its affiliates, these parties agreed to terminate the joint venture agreement and finally resolved the multiple disputes amongst them – Avoid

· SVP Global Ventures: Approved the appointment of OP Gulia as CEO of the company.- Positive

· Ashapura Minechem: Operations in Guinea continue to be normal despite certain political developments in Conakry, the capital of Guinea – Avoid

· Starteck Finance: The company approved to sell 100% stake in subsidiary Starteck Housing Finance to Paripurna Trust and/or Matrabhav Trust for Rs 11.45 crore. – Positive

· Edelweiss Financial - Rs400cr Public NCD issue of Edelweiss Financial Services Oversubscribed - Positive

· Somany Ceramic has decided to launch its own Exclusive Store and Duragres Emporio in the union territory.- Positive

· VST Tillers Tractors Limited enters Southern Africa, inks distributorship agreement with ETGL Africa - Positive

· Asian Granito Rs. 224.65 crores Rights Issue to open on September 23 at a price of Rs. 100 per Share - 40% discount to CMP 166, in the ratio of 19:29 (19 Equity Shares for every 29 Equity shares) – Positive

· Wipro AI Solutions Wins The Hackett Group's 2021 Digital Award for AI-led HR Automation – Positive

· Dhruv Consultancy Services Ltd receives LOA for consultancy services for road project – Positive

· PEL- Supreme Court has rejected 63 Moons Technologies Ltd.’s request to urgently halt sale of Dewan Housing Finance to Piramal Enterprises Ltd’s unit. In August, 63 Moons Appeals India Top Court to Stop DHFL Sale to Piramal - Positive

· Barbeque Nation approved a nearly Rs 100 crore fund raise through the preferential issue of equity shares to multiple investors. - Positive

· Cadila announced that its subsidiary received tentative approval from the U.S. FDA for its new drug application for Sitagliptin tablets. The tablets are used to treat diabetes - Positive

· Lupin has announced a commercial partnership with non-profit drug developer, TB Alliance to manufacture highly drug-resistant anti-tuberculosis medicine. - Positive

· HFCL intends to raise funds up to Rs 750 crore, by way of private placement or preferential issue or publish issue or rights issue or QIP or through any other permissible ways - Positive but poor balance is a concern.

· Welspun India: First Indian Company To Get US FDA 510(k) Approval For 3 Ply Surgical Masks - Positive

· G M Polyplast has informed regarding pertaining to the purchase of machinery. Now, the said machinery is under installation at the Factory located at “Silvasa”,- Positive

· Bank of Baroda - Ind Ra affirms Bank of Baroda at 'IND AAA' with stable outlook – Positive

· Maruti Suzuki has announced a price change for select models owing to increase in various input costs, with effect from 06th September, 2021,. - Positive

· Alhluwalia Contracts wins construction orders worth Rs890cr from Bihar - Positive

· Alembic Pharma has announced that its joint venture, Aleor Dermaceuticals Ltd. received the U.S. FDA’s final approval for Metronidazole Gel - Positive

· NMDC has cut iron ore price by Rs1000/per tonne to Rs 6,150 per tonne - Current valuation is attractive, any sharp decline will be buying opportunity.

· Ashoka Buildcon Managing Director and promoter Satish Parekh has taken over as the president of India Chapter of International Road Federation (IRF).- Positive

· Fitch Rates Power Finance Corporation's Proposed EUR Green Bond 'BBB-'- Positive

· Tourism Finance Corporation - Long term instruments of Rs631.50cr has been revised to CARE A with Negative outlook. The rating is revised from CARE A+/Negative.- Positive Open / Comment

2021-09-07 05:22:55 News & Impact



· Expects market to open on a positive note on account of global cues. Asian stocks were bolstered Tuesday by a further rally in Japan, with traders also weighing the outlook for central bank stimulus support and the impact of the delta virus strain on economic reopening. Japan’s Nikkei 225 hit 30,000 for the first time since April. Equities slipped in South Korea but were steady in Australia. Hong Kong Index gained marginally ahead of China Trade data announced today. Dow Jones and Nasdaq 100 futures advanced 0.1% each ahead of a resumption in U.S. markets after a holiday. SGX Nifty is trading flat to negative.

· European shares climbed on Monday to end near record levels, led by technology stocks which surged to their highest this year as a surprise rise in German factory orders pointed to improving global demand and boosted sentiment. UK, Germany and France Index gained nearly 1% each.

· Brent Crude is hovering at $72/bbl as investors assessed a demand outlook still clouded by the Covid-19 resurgence in many regions. Chinese trade data for August are due Tuesday, giving an indication of the economic health of the world’s biggest oil importer.

· Gold edged back from near a seven-week high as the dollar rebounded from the low that followed Friday’s poor U.S. jobs report, which diminished concerns the Federal Reserve would taper bond buying soon. Gold declined marginally at $1826/ounce.

· Expects positive sentiment in the market on account of strong macro data and local fund buying interest. Stock specific action expected in the market and traders buy on dips strategy in the market. In the global market front, a weak U.S. jobs report has bolstered the view that the Federal Reserve will delay paring the stimulus that has helped markets. FIIs were net sellers Rs589cr while DIIs were net buyers Rs547cr.

· Actionable - Tata Steel, MTAR Tech, Escorts, Coal India

· Events – Jain Irrigation board meeting for fund raising, GRM Over board meeting for stock split

· Market Summary - Supreme Court Refuses to Urgently Halt DHFL Sale to Piramal, Barbeque Nation Approving Rs 100 Crore Fund Raise, Cadila’s Anti-Diabetic Tablets Receives Tentative Approval From U.S. FDA, Lupin Announces Commercial Partnership With TB Alliance To Make Anti-Tuberculosis Drug In 140 Countries, Maruti Suzuki announces Price increase of select models, Alembic Pharma’s JV Receives USFDA Nod For Metronidazole Gel.

· Apollo Hospitals Bangalore becomes the first hospital in the country to have completed 100 Robotic Cardiac Surgeries - Positive

· Pancea Biotec - The Russian Direct Investment Fundnd Panacea Biotec announce supply of the 1st shipment out of 1 million doses of the second component (human adenovirus serotype 5) of the Russian Sputnik V coronavirus vaccine manufactured by Panacea Biotec for sale in India. – Positive

· GSK Consumer Healthcare leads oral care industry with launch of its first carbon neutral toothbrush – Positive

· Neogen Chemicals has announced that the Phase I commercial production / operations for manufacturing of organic chemicals has commenced at full scale successfully – Positive

· ICICI Bank has enabled millions of its savings account customers to pay and manage dues of credit cards of any bank instantly using the Bank's mobile application 'iMobile Pay'. The customers can add credit cards of any bank to the app within a few seconds and thereafter pay and manage their dues from the same app. – Positive

· Cochin Shipyard: Has emerged as the lowest bidder in the 6-vessel tender from the Indian Navy for the next generation missile vessels worth about Rs 10,000 crore and the formal contract signing is expected shortly – Positive Open / Comment

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