Stock market essentials for November 28: Third round of India-EU FTA talks starts today
Photo : BCCL
EVENTS
Third round of India-EU FTA talks starts on Nov 28
Last day to buy Shriram City Union Finance before amalgamation
Last day to buy Vedanta to be eligible for dividend,
Dish Tv NCLT hearing
Lock-in Period Ends:
Go Fashions/E-Mudhra/Ethos: Lock-in period ends for Pre-IPO Investors; lock-in opens on 47%/51%/60% of the shareholding
IPO Action:
Nov 28 to Nov 30: Dharmaj Crop Guard IPO to open for subscription
Other Events:
Hindustan Zinc to meet group of invesstors for Non-deal Road Shows for disinvestment of residual GOI shareholding in HZL between 28th November till 07th December
ECB’s Christine Lagarde addresses the Committee on Economic and Monetary Affairs
Cyber Monday, the first Monday after Thanksgiving, when retailers in the US and beyond traditionally hold special promotions and sales online
Oil & Gas Updates
Brent Crude at $83.4/bbl Vs $85.12/bbl
Singapore GRM at $8.8/bbl Vs $11.2/bbl
Asia Spot Gas prices at $30/mmBtu Vs $31.1/mmBtu
FII/DII Data:
FIIs net bought shares worth Rs 369 cr on Nov 28
DIIs net sold shares worth Rs 296 cr on Nov 24
FII F&O Cash Data:
Index futures net sell Rs 1657.48 cr
Index options net buy Rs 6625.5 cr
Stock futures net sell Rs 284.8 cr
Stock options net buy Rs 142 cr
Total FII net buy Rs 4825 cr in F&O
F&O Ban:
NIL
Bulk/Block Deal
Hindustan Motors
DB (INTL) OWN TRADING sold 14.8 lakh @ 22.15
BLOCK DEALS
Venus Pipes
BNP PARIBAS ARBITRAGE bought 6.5 lakh @ 650
Hemant Rajnikant Shah sold 6.5 lakh @ 650
NSE BULK DEALS
Hindustan Motors
DB INTERNATIONAL Brokers bought 14.8 lakh @ 22.07
Multiplier Share sold 6.5 lakh @ 22.15
Silver Line ventures sold 11.10 lakh @ 21.74
Stock Vertex sold 5.4 lakh @ 21.62
Tower Research Capital sold 1.2 lakh @ 134.87
CORPORATE ANNOUNCEMENT
Aarti Surfactants
Board has approved the Rights issue of upto Rs. 49.60 Cr . Fedex Securities Private Limited has been appointed as Lead Manager/ Merchant Banker.
Siemens Ltd
LIC has reduced its shareholding from 5.17% to 3.13% of the paid up capital
IEX Ltd
Board has approved the proposal to buyback equity shares through open market route
Buyback of shares approved at Rs. 200 per share
Indicative number of shares for buyback is 49 lakh equity shares (~0.55% of ESC)
Company to spend up to Rs. 98 Cr on share buyback
Board of Directors accorded in-principle approval for the formation of a wholly-owned subsidiary company in India to explore the business opportunities in Carbon Market
Shriram Properties
Shriprop Builders Private Limited, WoS of the Company acquired 100% of the Equity shares of Suvilas Realities Private Limited, Bangalore
Suvilas Realities is developing a project with development potential of ~660 residential units in 6.29 acres of land
Emami Paper Mills
Board meeting scheduled on 28th November to approve CFO of the company
LTI Mindtree
Board approved allotment of 12.04 Cr equity shares of Re.1/- each of the Company, to the equity shareholders of erstwhile Mindtree Limited
Paid equity share capital increased from Rs. 17.53 Cr to Rs. 29.6 Cr
Va Tech Wabag
WABAG and Asian Development Bank (ADB) enter into a Strategic funding tie up
ADB to invest Rs. 200 Crores in NCDs carrying a 5 years and 3 months tenor
Capital raised through NCD issuance to be used towards working capital requirements of the Company
L&T Financial Services
Company has received Rs. 3484 Cr for the sale of L&T Investment Management Limited , a wholly owned subsidiary of the Company
Karnataka Bank
Karnataka Bank and Hyundai Construction Equipment India Pvt Ltd collaborate for financing machineries/equipment.
Health Care Global
Commissioned 2.25 MW Solar Power Plant at Jagalur of Davanagere District, Karnataka
The solar installation is expected to reduce up to 70% of energy expenditure at two hospitals in Karnataka
Indian Oil Corporation
Has issued 25000, 7.44% NCDs aggregating to Rs. 2500 crore on Private Placement basis
Funds raised will be utilized for refinancing of existing borrowing and/or funding of Capital Expenditure of the Company
HDFC
The resolution approving the amalgamation HDFC Bank Limited was passed by the requisite majority of the Public Shareholders of the Corporation in a meeting convened by NCLT
Mahindra Finance
Mr. Diwakar Gupta appointed as an Independent Director on the Board of the Company
JK Cement
Jaykaycem Limited, the wholly owned subsidiary of the Company has successfully commenced Cement Grinding capacity of 2 MnTPA
Lemon Tree Hotels
Signed a License Agreement for a 42 room hotel in Jamshedpur under the Company’s brand “Lemon Tree Hotel”. The hotel is expected to be operational by end of September, 2023.
Hero Motocorp
Hero MotoCorp will make an upward revision in the ex-showroom prices of its motorcycles and scooters, effective from December 1, 2022. T
he price increase will be up to Rs 1500 and will vary by specific models and markets
Bajaj Finance
Company has entered into a Share Purchase Agreement on to acquire up to 40% stake for Rs. 93 Cr in Snapwork Technologies Private Limited
The acquisition is proposed with the intention to strengthen the Company’s technology roadmap.
Paytm:
100% subsidiary, Paytm Payments Services Limited (PPSL), receives letter from RBI
PPSL required to:
-Seek necessary approval for past downward investment
– Not onboard new online merchants
Co. says:
-No material impact on business and revenues
-RBI communication applicable only to onboarding of new online merchants
-Can continue to onboard new offline merchants
Angel One:
Launched Super App on the Android platform, to a limited set of users
Earlier this year, the company launched the Web and iOS versions of the Super App
The company will soon commence a full-fledged App rollout to all clients
Initially, the Super App will provide broking services
Inox Wind:
Shri Vineet Valentine Davis Whole-time Director of the Company has tendered his resignation from the office of Whole-time Director and Director of the Company w.e.f. November 25, 2022 due to personal reasons
Devyani International:
NCLT directed convening meetings of the Equity Shareholders and Unsecured Creditors to consider and approve the Scheme of Amalgamation for merger of Devyani Airport Services (Mumbai) Private Limited and Devyani Food Street Private Limited with Devyani International Limited
Meetings to be held on Dec 29, 2022
Astra Zeneca:
Receives an Import and Market permission in Form CT-20 from the Central Drugs Standard Control Organisation for Dapagliflozin (Forxiga®) tablets of 10 mg – additional indication
The receipt of this permission paves way for the launch of Dapagliflozin (Forxiga®) tablets of 10 mg in India, subject to the receipt of related statutory approvals
Ami Organics:
Signs a Multi-year, Multi-tonne, Multi million Euro, Definitive Agreement with Fermion for supply of an intermediate for their patented product
The total minimum contract value is expected to be multi-million Euro, spread across a 10-year horizon
Product expected to start contributing meaningfully to the revenue from FY24
Hind Zinc:
Key Takeaways from Presentation:
-Despite macro challenges, delivered consistent profitability through proactive cost management initiatives
Ashok Leyland:
BoD have unanimously approved the Scheme of Merger by Absorption of Hinduja Leyland Finance Limited (the Transferor Company) into NXTDIGITAL Limited
Scheme subject to receipt of approvals from RBI, SEBI, NCLT, Stock Exchanges & other statutory and regulatory authorities, and the respective shareholders and creditors
Share swap ratio changed to 25:10 from 23:10 announced earlier. Hinduja Leyland Finance shareholders to get 25 shares of NXT Digital for every 10 held in Hinduja Leyland Finance.
Persistent Systems:
Inaugurates Indore office to establish presence in central India
Expands footprint as a part of global growth strategy
Waaree Renewable Technologies:
Receives a Letter of Award from a reputed steel industry player
To execute EPC works for a solar power project with a capacity of 52.5 MWp DC
To also include provision of land, infrastructure and approvals for 70 MWp DC.
Arvind Ltd:
incorporated Arvind Technical Products Private Limited to carry on the business of manufacturing and marketing of textile products
Subsidiary incorporated to meet the prerequisite for participation in PLI scheme for textiles.
SBI CHAIRMAN SAYS:
SBI is a proxy to the Indian economy
Bank gets the patronage of 47 crore customers and is practically a banker to every household
Expects India to be the third largest in terms of the size of the economy
Customer expectations are changing and the bank needs to solicit and walk up to their doorsteps
We have improved customer service, but have miles to go
Shift in their behaviour in going to the digital mode
SBI has invested in technology, and the bank’s app YONO had helped in generating business and offering services in a frictionless manner
Adani Transmission:
-Adani Electricity Navi Mumbai (AENM) approached MERC for a distribution license in some pockets of the MMR region
(MERC = Maharashtra Electricity Regulatory Commission)
-Aims to get license to distribute power in areas exclusively served by the state-owned Mahadiscom in -Mumbai’s suburbs Mulund and Bhandup, and also Thane district, Navi Mumbai, Panvel, Kharghar, Taloja and Uran.
-Also vying to distribute power to JNPT
HFCL
Wins order worth Rs 1770 cr om for providing EPC Services including provision for laying of optical fiber cables, for execution of Rural Water Supply Network in Varanasi Revenue Division in the State of Uttar Pradesh
IndiGo and SpiceJet in Focus
Daily Air Traffic on Saturday (26/11/2022) touched 4,06,000 mark – highest level since Covid started. In December 2019 (pre-Covid), the average daily air traffic stood at 4.2 lakh passengers.
FROM AGENCIES
Amazon Shutting India Food-Delivery Business: Economic Times
Sunflower oil shipments to India from Russia, Ukraine return to normal
Sebi gives more time to implement guidelines on share pledging for margin purposes
AMCs to be penalised for delay in dividend, redemption payments: Sebi
Apple’s China Pullback Could Be Crunch Time for IPhone Margins
India has great opportunity to make steel for domestic, global needs: T V Narendran
India Inc urges RBI to moderate pace of interest rates hikes
India’s low labour costs key in wooing firms to move production from China
G20 presidency big opportunity for India, must utilise it for global good:PM
India’s number one priority during G20 presidency should be to restore economic order that provides stability: Pankaj Saran. PTI
India and Colombia agree to deepen bilateral cooperation
Indian Railways seeks Rs 1.5 trillion as budget support; may announce 300-400 new Vande Bharat trains in FY24
Strong pent-up demand, higher capex spending aided growth: Q2 GDP growth seen around 6.5%
Sebi notifies insider trading norms for mutual funds
India’s pre-owned car market to surge 2.5X in value to be INR 4.4 Trillion and grow 2x in volume to reach 8.2 Mn units
OYO: From Agencies
IPO-bound OYO’s EBITDA rises 8 times, loss reduced by 20%
Adj. EBITDA grew 8x from Rs. 7 cr in Q1 to Rs. 56 cr
Growth in Adj. EBITDA led by rise in gross booking value per hotel
Net Loss narrows to Rs. 333 cr vs Rs 414 cr
Gross Booking Value (GBV) per hotel per month up 69% YoY to Rs. 3.48 lk
Rise in GBV per hotel due to improved occupancy & average room rentals as travel resumes
Gross rentals for OYO European Homes business stayed stagnant
On-going third quarter crucial to watch as it’s peak season for travel
ANALYST MEET
Piramal Enterprise to meet IIFL Securities and other group investors between 29th Nov to 30th Nov
Aegis Logistics to participate in IIFL’s “Invest India conference” in London on 29th & 30th November 2022
Aether Industries to meet Edelweiss Securities on 26th November
JK Cement to meet investors on 29th November, 2022 and 30th November, 2022
Paytm will hold Analyst and Investor Meet on November 30,2022
Syngene International Limited to meet Franklin Templeton AM on 29th November 22
Affle to meet JM Financial Institutional on 25th November
Tega to meet Bajaj Allianz Life Insurance on 28th November
Hindustan Zinc to meet group of invesstors for Non-deal Road Shows for disinvestment of residual GOI shareholding in HZL between 28th November till 07th December
Ajanta Pharma to meet group of investors Nomura Asset, Kotak Mahindra Offshore, GIC and others between 28th Nov till 29th November
Asian Paints to meet Goldman Sachs, HDFC MF, Nippon MF, Mirae MF and others on 28th November
TD Power to meet investors on 28th November 2022
E-Mudhra to meet Pinebridge Investments on 29th November
Tata Motors to meet Nordea Asset Management on 28th Nov and Eastbridge on 29th November
28,2022.
Thyrocare to meet Incred capital on 28th November
Navin Fluorine to participate in IIFL’s “Invest India conference” in London on November 29 and 30, 2022
M M Forgings Limited to meet Nirmal Bang Institutional Equities on Nov 28
Gallantt Ispat Limited to meet N Square Capital on Nov 28
Thyrocare to meet Incred capital on Nov 28
Navin Fluorine to participate in IIFL’s “Invest India conference” on Nov 29-30
Star Health met a group of investors/analysts on Nov 25
Data Patterns to meet New Vernon Capital on Nov 28, VEC Investments and Motilal Oswal on Dec 1
Aether Industries met Edelweiss Securities Limited on Nov 26
Ami Organics met Marcellus on Nov 26
Olectra Greentech to meet WhiteOak Capital Management Consultants LLP, GIC Private Limited, Nomura Asset Management, Helios Capital, Principal Asset Management Private Limited on Nov 28 and BlackRock (Singapore) Limited, Somerset Capital Management LLP, Arisaig Partners, Graticule Asset Management on Nov 29
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