Stock Market Essentials For January 13: Two-day ‘Think-20’ meeting under G20 in Bhopal from today
Photo : BCCL
Global Cues
China property prices, lending
Economic Release
5 pm: India Dec. Trade Balance, est. -$23.3b, prior -$23.9b
India earnings
Corporate action
Last date to buy Aarti surfactants to be eligible for rights issue
Other events
The World Economic Forum’s annual meeting kicks off in Switzerland, the first winter gathering since before the Covid pandemic till Jan 20
Two-Day ‘Think-20’ Meeting Under G20 In Bhopal From Jan 16
First G-20 infrastructure working group meeting in Pune on Jan 16, 17
CORPORATE EVENTS:
11am: L&T Finance Holdings hosts confernce call to discuss 3Q FY23 performance
2pm: Shyam Srinivasan, MD & CEO of Federal Bank hold a press conference for announcing 3Q FY23 results and discussing future plans
4pm: Bank of Maharashtra hosts conference call on 3Q FY23 results
4:30pm: Federal Bank hosts conference call on 3Q FY23 earnings
6pm: Just Dial hosts conference call on 3Q FY23 earnings
Oil & Gas Updates
Brent Crude at $85.3/bbl Vs $84/bbl
Singapore GRM at $10.31/bbl Vs $9.1/bbl
Asia Spot Gas prices at $26.8/mmBtu Vs $26.9/mmBtu
FII/DII Data:
FIIs net sold Rs 2422.39 cr worth shares on Jan 13 (prov)
DIIs net bought Rs 1953.4 cr worth shares on Jan 13
FII F&O Cash Data:
Index futures net buy Rs 1507 cr
Index options net buy Rs 305 cr
Stock futures net buy Rs 1156 cr
Stock options net sell Rs 8 cr
Total FII net buy Rs 2960 cr in F&O
F&O Ban:
GNFC & Indiabulls Hsg fin
Bulk/Block Deal
Shriram Finance
Dynasty Acqusition (FPI) Pvt Ltd sold ~80 lakh shares at Rs 1300/sh
Buyers:
ADITYA BIRLA SUN LIFE INSURANCE COMPANY LIMITED
SOCIETE GENERALE
ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED
FID FUNDS MAURITIUS LIMITED
BNP PARIBAS ARBITRAGE
NORGES BANK ON ACCOUNT OF THE GOVERNMENT PENSION FUND GLOBAL
Earnings
WIPRO ( TOPLINE SLIGHT MISS ; MARGIN BEAT; PAT SLIGHT BEAT)
Wipro: Tepid revenue and Q4 guidance ;but margin beat a surprise
CC growth of 0.6% vs 0.9% expected
IT Services Segment Revenue increased to $2,803.5 million vs $2814 mn expected
Re Revenue at 23229 cr vs 23180 expected
Margin at 16.3% vs 15.2% expected
PAT at 3056 cr vs 2950 cr expected
HDFC BANK Q3 Standalone YoY
NII/PAT-In line
Asset Quality Remains Flat
NII up 24.6% at Rs `22988 cr vs `18443 cr YoY
PAT up 18.5% at `12259 cr vs Rs 10342 cr YoY
Provisions at `2806cr vs `2994cr (vs `3240cr QoQ)
GNPA flat at 1.23% QoQ
NNPA flat at 0.33% QoQ
AVENUE SUPERMARTS Q3 STANDALONE YOY
Overall-Mixed Numbers
Rev-Inline, PAT+EBIDTA-Below Estimates
Revenue up 24.7% at `11305 cr vs `9065 cr YoY
Net profit up 9.4% at `641 cr vs `586 cr YoY
EBITDA up 12.2% at `975 cr vs ` 869 cr YoY
Margins at 8.6% vs 9.6% YoY
L&T FINANCE Q3 (Consolidated YoY
Net Interest Income up 24% at Rs 1821 cr vs Rs 1467 cr,
Net profit up 39.3% at Rs 454 cr vs Rs 326 cr
One-time provision for Rs 2687cr due to change in business model
To merge L&T Fin, L&T Credit Infra with co
Co had earlier divested its MF business
Just Dial Q3 QoQ
Revenue up 8% at Rs 221cr vs Rs 205cr
PAT up 44% at Rs 75cr vs Rs 52cr
EBIDTA up 59% at Rs 27cr vs Rs 17cr
Margins at 12.2% vs 8.3%
CORPORATE ANNOUNCEMENT
Dr Reddys
“Dr. Reddy’s launches in-house palbociclib (PRIMCYV®) to widen access to high-quality breast cancer drug.”
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Dr. Reddy’s has acquired trademark rights to the product for use in India from Pfizer Products India Pvt Ltd.
PRIMCYV® will be retailed in India at an 85% reduction from the current MRP to widen patient access to the trusted brand and high-quality product
NDTV
The below Senior Officials of New Delhi Television Limited (“the Company”) have resigned:
1. Ms. Suparna Singh, President, NDTV Group;
2. Mr. Arijit Chatterjee, Chief Strategy Officer, NDTV Group;
3. Mr. Kawaljit Singh Bedi, Chief Technology and Product Officer, NDTV Group.
The Company is in the process of putting up a new leadership team
which will set a fresh strategic direction and goals for the Company.
Brigade
Company has acquired 100% stake in the equity shares of Tetrarch Real Estates Private Limited from its existing shareholders.
Accordingly, Tetrarch Real Estates Private Limited has become a wholly owned subsidiary of the Company with effect from 13th January, 2023.
Total consideration= Rs 96.88 cr (CASH)
The acquisition is made with the objective to undertake real estate development projects in the Company.
Bharat Forge
With reference to our intimation dated July 28, 2022 regarding implementation of Voluntary Retirement Scheme in the Company, effective from July 29, 2022,
2 employees have opted for the Scheme which involved an overall payout cost of Rs. 71 Lakh.
Summons is being issued for regular data requests by the department.
Company has filed a writ petition in the Mumbai high court in light of the guidelines by the board (CBIC)
that these summons are against the prescribed objectives
Alert:
ET report e talks about the summons being issued to various companies including Supriya Lifescience Ltd
HG Infra
Receipt of Letter of Acceptance from Delhi Metro Rail Corporation Limited (DMRC)
Bid cost: 412.11 Cr
Consturciton period: 24 months
M&M
Hon’ble National Company Law Tribunal, Mumbai Bench (‘NCLT’), basis its hearing held on 6th January, 2023 and Pronouncement of Order on 13th January, 2023,
has approved the Scheme of Merger by Absorption
of Mahindra Electric Mobility Limited (“MEML” or “Transferor Company”) with Mahindra and Mahindra Limited (“M&M” or “Transferee Company”)
Appointed Date of the Scheme is 1st April, 2021
Seamec Ltd (2174 cr mcap)
Company has completed the process of purchase of vessel “Subtech Swordfish”
and taken over the same on 13th January, 2023 at 10:30 hours London time.
On completion of takeover, the vessel was put on deployment on bareboat charter
with M/ s. James Fisher Marine Services Limited with multiple options during charter period.
The charter hire for the firm period is USD 798,000.
Max Financial Services Limited
Co has informed the Exchange regarding Cessation of Mr Mohit Talwar as Managing Director of the company w.e.f. January 14, 2023.
USL (Allotment of equity shares pursuant to Scheme of Amalgamation and Arrangement amongst Pioneer Distilleries Limited and United Spirits Limited)
Board of the Transferee Company, today, through circular resolution,
has approved the allotment of nos. 7,12,138 equity shares of face value Rs. 2 (Rupees two only) each
to the shareholders who were holding shares of the Transferor Company as on the aforesaid Record Date
SML ISUZU (Auto Expo Updates)
Presenting 4 of our latest products : 1 in cargo segment and other 3 in the passenger segment.
Three other products exhibited here are Front Door Hirai School Bus, Executive Lx CNG School Bus and Executive Lx Staff Bus
NCL Industries (778 cr mcap)- Quarterly Update Q3 FY23
Cement production up 27% YoY and down 1% QoQ
Cement dispatches up 27% YoY and down 1% QoQ
…
Tata Steel
“The British Steel Pension Scheme withTata Steel UK as Sponsor has completed a substantial part of its de-risking journey
with 60% of its liabilities now insured by an insurance company”.
Whirpool
Mr. Vishal Bhola, Managing Director of the Company will resign w.e.f 3 April
Mr. Narasimhan Eswar appointed as Additional Director and Managing Director with effect from 04th April, 2023 for a period of 5 years
Green Panel
Company is sponsoring Delhi Capitals, a franchise of Indian Premier League, as the principal sponsors for three years, i.e. upto the year 2025.
The company is also sponsoring Delhi Capitals’ sister team – the Pretoria Capitals, which will compete in the inaugural season of the SA20, as principal sponsor for three years.
Inox Wind
Allotment of Equity Shares upon part conversion of Convertible Warrants
Tata Motors
Co has filed Form 25 with Securities and Exchange Commission, USA and intimation thereof to New York Stock Exchange
in connection with proposed delisting of American Depositary Shares of Tata Motors Limited and termination of its American Depositary Share Program’.
Sula Vineyard
Co has recorded highest ever quarterly gross billings overall- both for own brands and wine tourism business
Own brands Gross billings- up 13% YoY
Wine tourism billings- up 13% YoY
Restaurants Brand Asia
CEO of Indonesia business Ravi Punj resigns
Sandeep Dey, Brand President of Popeyes® Indonesia busines will become CEO
REC
Signs MoU with UP and MP Governments for power services related projects
MoU are worth Rs 1.16lk crore.
PIRAMAL PHARMA
USA unit receives 2 Form-483 observations from USFDA
Observations were classified under VAI (Voluntary Action Indicated)
MAITHAN ALLOYS
Receives entire of Ilamagiri Renewable Energy
In agreement with IL&FS Energy Development Company Limited.
KDDL (Mkt Cap-1314cr)
To consider buyback on Jan 18
GRANULES INDIA
Hyderabad facility receives 2 observations from USFDA
Gagillapur facility manufactures Finished Dosages (FDs) and Pharmaceutical Formulation Intermediates (PFIs).
SAGAR CEMENTS
Wins resolution bid for Andhra Cements
Issued letter of intent for Andhra Cements
IGL
Rakesh Kumar Jain appointed as Chairman
ONGC Clarifies
ONGC Videsh continues to be a part of the Sakhalin-1 Consortium.
Lupin
U.S. FDA inspected Lupin’s Somerset, New Jersey, U.S.A. manufacturing facility from January 2, 2023 to January 13, 2023.
Inspection closed with issuance of a Form-483 with two observations
FROM AGENCIES
RattanIndia acquires EV maket Revolt Motors
Govt. extends bid due date for commercial coal block auction
Coal Ministry offers relaxation in revision of performance Bank Guarantee
Bharti Airtel Starts 5g Plus Services In Shillong
Reliance Jio True 5g Launches In Chhattisgarh, Bihar, Jharkhand
India’s Russian oil imports top 1 mn barrels a day in Dec
India forex reserves fall $1.27b w/w to $561.6b as of Jan. 6
Global Oil Majors Are Keen to Invest in India Projects: Minister
Becoming Net-Debt Free In Fy2024 Will Be A Stretch: Tata Cfo
Jaguar Land Rover May Miss Debt Reduction Target on Chip Crisis
INSIDER TRADE
ANALYST MEETS
Tata Motors
To be held on Wednesday, January 25, 2023 at 6.30 p.m. IST
with the Senior Management of the Company and Jaguar Land Rover Automotive Plc (Wholly Owned Subsidiary)
to update on the results for Q3FY2023 of the Company.
National Fertilisers
Company will be participating in Non-Deal Roadshows and shall meeting with prospective investors from 16th January, 2023 to17th January, 2023 in Mumbai.
Metro Brands
On 18th January, 2023 at 3.30 PM
JSW Energy
Results Conference Call on Friday, 20th January, 2023 at 6.30 p.m. (IST)
Everady Industries
Jan 16 and 17 organised by Ambit Capital
Stylam Industries
19 Jan at 11 am
Surya Roshni
Wednesday, 18th November, 2023 at 4 PM
Capri Global
January 14, 2023 Group Visit of Sell Side and Buy Side analysts to Gold Loan branches of Capri Global Capital Ltd. in Gurugram, Haryana.
Ganesh Housing
At 1200 hrs. IST on Wednesday, January 18, 2023