Stock market essentials for June 24: Canara Bank board to mull fundraising today – Times Now

Forex Market Stock Traders
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Events Today

Canara Bank to consider and approve the Capital Raising Plan of the Bank for FY23

Suven Life Sciences Board to mull over raising of funds through issue of equity shares on rights basis

Zomato Board meet to consider Blinkit’s potential acquisition

Motilal Oswal Financial Services buyback issue to open

Issue Size:- Rs 160 cr; Issue Price:- Rs 1,100 – 52% premium to CMP

AGMs

Bajaj Finserv

Voltas

Deepak Nitrite

Rallis India

Mahindra CIE

Bajaj Holdings

Fineotex Chemical

Corporate Action

Nil

DII/FII data

FIIs net sold worth Rs 2319.06 cr of shares on June 23 (prov)

DIIs net bought worth Rs 2438.31cr of shares on June 23

FII F&O Cash Data:

Index futures net buy Rs 853 cr

Index options net buy Rs 15621 cr

Stock futures net buy Rs 1701 cr

Stock options net sell Rs 85 cr

Total FII net buy Rs 18260 cr in F&O

F&O Ban

RBL Bank

Indiabulls Housing

Sun TV

Addition:- Delta Corp

Bulk/Block Deal

Nil

Corporate Announcements

Hero MotoCorp

To revise prices of Motorcycles & Scooter wef 1 July 2022. The price revision will be up to Rs. 3000. Company cites cost Inflation, including commodity prices for the revision in price.

J&K Bank

Board meeting on 28 June to consider fund raising

Made an oil discovery in the recently drilled well in Colombia

HealthCare Global

To acquire Radiant Hospital’s radiation therapy centre, along with its assets located in Orissa for Rs 16 cr.

Considering to acquire 51% stake in Nagpur Cancer Hospital. Hired E&Y

Company proposes to set up 2.25MW Solar Power Plant in Karnataka for captive use

Company is in the process of setting up a ~25 bed cancer care centre in Bangalore

HCG Medi-Surge Hospitals – subsidiary – is expanding the existing facility from 100 beds to ~200 beds

Considering strategic options in relation to developing the fertility clinic business, held by its subsidiary

Company continues to maintain its growth momentum in the current quarter.

HCL Technologies

Opens new delivery center in Vancouver, Canada. The new center will significantly expand its presence in the country to serve clients primarily in the HiTech industry.

Other News

Accenture Q3FY22

Revenues are $16.2 billion (est 16.05 $ bn), an increase of 22% in U.S. dollars and 27% in local currency

Operating margin of 16.1%, an expansion of 10 basis points

New bookings are $17.0 billion, a 10% increase in U.S. dollars and 15% in local currency

Attrition stood at 20% vs 18% in Q2

Strong results, FY22 Guidance upgraded again, +ve for Indian IT

Company upgraded its FY22 revenue growth guidance, yet again, to 25.5-26.5% YoY in local currency from 24-26% earlier

Q4FY22 guidance, while optically appears weak, is impacted by exceptionally high cross currency impact

Management believes that demand is sustainable – and Accenture is well positioned

Management continues to see very strong revenue growth across consulting and outsourcing in Q4

Nykaa First-Ever Investor & Analyst Day, Key highlights:-

Personal care and Beauty have similar margins—mix change will not be margin-dilutive

Regional fulfillment focus will help control this cost to less than 10% of

In fashion, Masstige and Premium are focus areas; Aiming for a 10% share by CY25

For Superstore working capital investment would be minimal; This business has GMV potential of USD3–4bn with 4–6% EBITDA margin

Despite normalisation of shipping terms, AOV has not fallen below Rs 1,800

Gross margin improvement owing to higher own brands share, healthy growth in advertisement revenues and higher share of fashion business

Conscious strategy to increase customer acquisition spends

Viresh Joshi sues Axis MF, claims Rs 54 Cr

Sacked fund manager Viresh Joshi drags Axis MF at Bombay HC against his termination

Viren Joshi demands Rs 54 crore in damages from Axis MF, files lawsuit on Thursday

Viren Joshi claims termination notice as null and void and has no legal and binding effect

Viren Joshi claims termination notice is a breach of contractual obligations.

Viren Joshi was sacked by Axis MF on May 18 citing violations of code of conduct, among others

Gautam Adani commits to donate Rs 60,000 crore on his 60th birthday

Corpus will be administered by the Adani Foundation

Donation to be utilized in healthcare, education, and skill development

From Bloomberg

Foxconn to Expand Electronics Manufacturing in India, Modi Says

Foxconn has plans for expanding electronics manufacturing capacity in India, including in semiconductors, the South Asian nation’s Prime Minister Narendra Modi said after a meeting with the company’s Chairman Young Liu in New Delhi.

Separately, Ashwini Vaishnaw, India’s minister for electronics and information technology, said Liu also expressed “keen interest” in electric vehicles in India

Russia’s Share in India’s Oil Import Rises to 10%, Official Says

Russia has accounted for 10% of India’s oil imports during the current financial year that began April 1, giving it a place among the South Asian nation’s top 10 oil import destinations, an Indian govt official told reporters in New Delhi.

Russia’s share in India’s oil imports was 0.2% in the previous financial year, according to the official, who asked not to be identified citing rules

India’s private refiners imported about 40% of the Russian oil, the official said, adding that Indian importers have been largely purchasing Russian oil from traders

Russian oil is coming at a discount to factor in the difficulties in sourcing such as freight and insurance, according to the official

India’s Oil Consumption to Keep Rising Despite Green Push: Puri

India’s daily oil consumption is expected to increase to about 6m-6.5m barrels from about 5m now because of the nation’s rising energy appetite, Oil Minister Hardeep Singh Puri told reporters in New Delhi on Thursday.

Puri didn’t provide a time frame for oil consumption forecast

India is expected to account for 25% of world’s incremental energy demand in the next 20-30 years; will be a critical driver of energy demand

The nation’s per capita energy consumption is one-third of global average now

Imports make up 85% of India’s oil requirement and 50% of natural gas consumption

The country is committed to provide affordable energy to consumers, will source oil from whoever meets nation’s interest

Indian state-run refiners, such as Indian Oil Corp., are looking at long-term oil sourcing from allover the world, including Guyana, Azerbaijan and Gabon

Oil price of $120 a barrel is not sustainable and also not in interest of producers as it leads to inflation that can cause recession and demand loss

Russian oil is not under sanction, payments continue to be made through existing mechanism

India plans to put 50% of its strategic petroleum reserves for commercial use; no plan to fill up strategic reserves when prices are high

Insiders

Company Category No. Of Shares Activity
Kovai Medical Promoter & Director 612 Bought
Bright Brothers Promoter 1,900 Bought
NCL Industries Promoter and Director 2,566 Bought
Mastek Promoter & Director 5,035 Bought
Haldyn Glass Promoter 9,239 Bought
PSP Projects Promoter Group 20,000 Bought
India Pesticides Promoter 66,023 Bought
KNR Constructions Promoter & Director 220,000 Bought
Vijaya Diagnostic Promoter 266,000 Bought
Alkyl Amines Employees Immediate Relative 1,200 Sold
IndusInd Bank Designated Person 5,000 Sold
Nahar Spinning Mills Designated Person 7,022 Sold
Valiant Organics Promoter Group 8,000 Sold
Page Industries Promoter & Director 12,650 Sold
Gland Pharma KMP & Designated Person 14,000 Sold
HFCL Employee Trust 21,000 Sold
HDFC Bank Ltd Designated Person 183,468 Sold
Chmbal Fertiliser Promoter 1,395,000 Pledged
Ajanta Pharma Promoter 1,700,000 Pledged
JSPL Promoter Group 8,564,307 Pledged

Investor/Analysts Meet

Sudarshan Chemical meeting with Prabhudas Lilladher, Max Life Insurance on 24 June

GIC Re meeting with host of investors on 22 June

Kalyan Jewellers meeting with Sapphire Capital on 23 June

DCB Bank meeting with DSP Investment Managers, HDFC sec on 23 June

IndusInd Bank meeting with host of investors on 23 June

Polycab meeting with Canara HSBC Life on 24 June

SBI card meeting with host of investors on 23 June

Federal Bank meeting with HDFC sec on 22 June

AGS Transact Technologies meeting with investors on 24 June

Persistent System meeting with ICICI Prudential Life, Kotak Mutual Fund on 22 June and Union Mutual Fund on 23 June

Mastek meeting with Lucky Investment Managers on 23 June

CSB Bank meeting with LIC Mutual Fund on June 23

SBI investor interaction on June 23

DLT to attend Axis Capital India Real Estate Conference on 23 June

Krsnaa Diagnostic to meet JMFinancial on June 24

Tata Consumer to meet ValueQuest in June 24

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