Stock market essentials for June 22: Vodafone Idea board meet today to raise Rs 500 crore – Times Now

Forex Market Stock Traders
Stock market essentials for June 22

Stock market essentials for June 22.

Events Today

Vodafone Idea board meet to raise Rs 500 cr

Matrimony.com Buyback Committee meeting to fix record date

AGMs:

Indian Bank

DCB Bank

Corporate Action

Nil

DII/FII data

FIIs net sold worth Rs 2701.2 cr of shares on June 21 (prov)

DIIs net bought worth Rs 3066.4 cr of shares on June 21

FII F&O Cash Data:

Index futures net buy Rs 2148 cr

Index options net buy Rs 1648 cr

Stock futures net buy Rs 2333 cr

Stock options net sell Rs 165 cr

Total FII net buy Rs 5964 cr in F&O

F&O Ban

RBL Bank

Indiabulls Housing

Bulk/Block Deal

Nil

Corporate Announcements

Inox Leisure and PVR

Received no adverse observation and no objection letters from BSE and NSE for the proposed merger. Now only NCLT approval pending and analyst believe the merger process should finalise over next 2-3 quarters.

Jain Irrigation

To merge its international irrigation business with Rivulus – backed by Singapore based Temasek Group. Consolidated debt to reduce by 45% to Rs 2664 cr

Jain Irrigation will hold 22% stake in the merged company after the cash-and-stock transaction, while Temasek willl own the remainder. The merged company will have about $750 million in revenues.

Jain Irrigation will have a long-term supply agreement with the merged entity. Going forward, Jain Irrigation will focus on improving India business and aim to reduce debt on the Indian balance sheet

Reliance Industries

To file an appeal before the SAT on SEBI order related to Facebook deal disclosures.

SEBI imposes combined Rs 30 lakh penalty on Reliance and two people for not promptly disclosing 2020 Facebook deal.

In the opinion of the Company, the order is untenable.

Zomato

Board meet on June 24 to discuss potential acquisition transaction which might be done through issue of new shares on preferential basis.

Bharti Airtel

Wholly owned subsidiary looking to repurchase bonds worth $300 million which were due in 2024.

Coal India

Coal India held three pre-bid meetings on 14th and 17th June with prospective coal importing agencies

Hero Motocorp

The company has further strengthened its commitment and operations in Turkiye with the introduction of Euro-5 compliant variants of its three globally popular products

JSW Ispat Special Products

Shutdown of Blast furnace, Sinter Plant and Steel Melt Shop (SMS) at Raigarh location and 2 furnaces of the Ferro alloys and SMS respectively at Raipur (Chhattisgarh) location for regular annual maintenance for about 25 days wef 21 June, 2022

Som Distilleries & Breweries

In May 2022, mainline Beer Brand “Hunter” registered market share of 55% in premium beer segment in the State of Madhya Pradesh.

Market share was highest amongst all the premium beer manufacturers in the State

Astral

Gem Paints Private Limited and Esha Paints Private Limited have become subsidiary and step down subsidiary of the Company

Other News

Dr Reddy’s Investor Day Takeaways

Unveiled Horizon 1 and 2 growth drivers comprising near-term and long-term goals

Confident of double digit revenue growth, 25% EBITDA margin and 25% RoCE aspiration

Ex-US to grow faster; aims to be in Top 5 in India

Spends on NCEs/biosimilars to accelerate; will not shy away from restructuring portfolio

Commercialise biosimilars on its own in the US and the EU

Focus on backward integration, productivity and digitalisation

Market share in key products such as gSuboxone and gCiprodex seems to have peaked out

Jubilant Ingrevia Mgmt Meet Takeaways: Edelweiss

Confident of doubling revenue in 3-4 years on the back of capex

Speciality chemicals potentially driving large part of growth

Overall EBITDA margin and RoCE would improve

Balance sheet shall stay strong

Large part of capex would be funded from internal cash flows

Safari Industries Mgmt Meet Takeaways: Centrum

New unit at full capacity utilization level is expected to clock sales of Rs 350 cr – +50% over the FY22 sales

New unit will also help company to increase its sales of PP based hard luggage

Expects its share from HL to increase to 60-65% of total sales Vs 45-50% now

Margins in PP hard luggage are highest

VIP Industries, Samsonite and Safari Industries have market share of 43%/34%/23%

Safari over last 10 years has increased its market share from 4% in FY12 to 23% in FY22

Oil & Gas Updates

Singapore GRM now trading at $30.4/bbl vs $27.4/bbl – new highs

Rising GRM positive for Chennai Petro, MRPL, OMCs and RIL

Asia Spot Gas prices now at $37/mmBtu vs $34/mmBtu

Higher gas prices negative for Gujarat Gas

From Bloomberg

India’s May Steel Consumption Rises 20% YoY to 9.4M Tons

India’s finished steel demand in May was also 4.2% higher than April, the country’s steel ministry said in a statement.

Crude steel production rose 17% y/y to 10.6m tons

Consumption and production last month was the highest May figures in at least five years

Finished steel exports in May fell 39% y/y to 749,000 tons, while imports slid 3.5% to 379,000 tons

Italy, Belgium, UAE, UK, Nepal, Spain and Turkey made for about 75% of India’s export markets during the month

Steel inventories at end-May reduced by 1.1% m/m to 7.89m tons

From Reuters

Mamaearth Plans IPO Next Year, Seeks Valuation of $3 billion

Sequoia Capital-backed skincare startup Mamaearth is in talks to raise at least $300m in an IPO next year, Reuters reports, citing unidentified people familiar with the matter.

Mamaearth is seeking a valuation of around $3 billion.

Company is in talks to appoint JPMorgan Chase, India’s JM Financial and Kotak Mahindra Capital as bookrunners.

Mamaearth, JPMorgan Chase declined to comment; M Financial and Kotak did not immediately respond to requests for comment.

Insiders

Company Category No. Of Shares Activity
Amrutanjan Health Promoter 881,116 Bought
Sadbhav Engineering Promoter 650,000 Bought
Mangalam Cement Promoter 350,000 Bought
India Pesticides Ltd Promoter 100,000 Bought
Man Infra Promoter & Director 89,371 Bought
Inox Leisure Director 82,000 Bought
Shriram City Promoter Group 59,102 Bought
Nava Bharat Ventures Promoter Group 35,433 Bought
NCL Industries Director & Promoter 26,000 Bought
Som Distilleries Promoter 15,000 Bought
Shakti Pumps Promoter Group 7,250 Bought
Pennar Industries Employee 1,000 Bought
HDFC Bank Designated Person 127,300 Sold
Gland Pharma KMP, Director & Designated Person 125,959 Sold
Trident Promoter Group 75,150 Sold
Campus Activewear Ltd Designated Person 7,000 Sold
Gati Promoter Group 2,500 Sold
M&M Designated Person 1,000 Sold
AIA Engineering Promoter 274 Sold
Chambal Fertiliser Promoter 2,350,000 Pledged
Sadbhav Engineering Promoter 2,045,325 Pledged Shares Sold
SPARK Promoter Group 430,000 Pledged
Sun Pharma Directors Immediate Relative 400,000 Pledged
Orient Bell Promoter 1,555 Pledged

Investor/Analysts Meet

Metro Brands meeting with Arthya Investments on 21 June

Vedanta meeting with IIFL Securities on 21 June , Rare Enterprise on 22 June

Timken India meeting with SBI MF rescheduled on 23 June

Fermenta Biotech investor call on 22 June

KEI Industries meeting with Elara Capital on 23 June

IEX meeting with Nikko Asset Management, JP Morgan Asset Management and Pictet Asset Management on 22 June

Antony Waste Investor/ Analyst meeting on 22 June

Maharashtra Seamless call with host of investors 22-23 June

Trent meeting with Arisaig Partners on 23 June

Shriram Transport finance meeting with host of investors on 20 June

Aster DM Healthcare meeting with ICICI Pru Asset Management 21 June

Krsnaa diagnostic meeting with Locus Investment Group on 22 June

Biocon held meeting with White Oak Capital on 17 June

Bigbloc plant visit at Umargaon for analyst and institutional investors on 24 June

India Pesticides meeting with AS capital on 22 June

Tube Investment India meeting with IIFL on 22 June

Home first finance to interact with various investors/analyst on 22 June

Eicher Motors meeting with Sundaram Mutual Fund, Segantii Capital on 24 June

GOCL meeting with investor/ analyst on 22 June

Prudent corporate meeting with host of investors on 21 & 22 June

ICICI pru life meeting with Newton Investment Management on 21 June

Barbeque-Nation Hospitality to attend conference organized by Dolat Capital on 22 June

M&M in meeting with Several Funds/Investors /Analysts for new product launch (Scorpio) on 27 June

India Mart Intermesh meeting with analyst/ institutional investor on 20-21 June

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