04/01/2023, Morning Updates, Corporate Action
Global Morning Updates
SGX NIFTY: -65(18252) @7:40 am *Considering Tuesday’s closing of 18317
DOW: -10(-0.03)
Nasdaq: -79(-0.76)
DOW FUTURES: +39(+0.12)
HANGSENG: +340(+1.66)
SHANGHAI COMP: +8(+0.28)
NIKKEI: -359(-1.38)
GOLD COMEX(USD/toz): 1845.70(-0.02%)
SILVER COMEX (USD/toz): 24.20(-0.15%)
LME COPPER(USD/MT): 8321.50(-0.60%)
LME ZINC(USD/MT): 3002.00(+0.99%)
LME ALUMINIUM(USD/MT): 2311.00(-2.82%)
BRENT CRUDE(USD/bbl): 81.99(-0.13%)
WTI CRUDE OIL(USD/bbl): 76.80(-0.17%)
USDINR: 82.89(+0.18%)
DOLLAR INDEX: 104.30(-0.14%)
US 10YRS BOND YIELD: 3.76%
INDIA 10YRS BOND YIELD: 7.32%
FII: -628
DII: +350
FII F&O: +9203
BSE CASH SEGMENT TRADED VALUE (Rs Crs): 2872
NSE CASH SEGMENT TRADED VALUE(Rs Crs): 42512
A/D Ratio: 1.28
Securities in Ban Period: NIL
Stock in Action
Titan Company: Titan, the biggest listed jewellery retailer in India is looking at growing its jewellery business revenue by 250% by 2026-27, implying an annual revenue growth of 20%. The company has enough room to expand and grow its share in the Rs 4 trillion market, dominated largely by unorganised players. Robust balance sheet and asset-light distribution model have enabled Titan Company to outpace peers in terms of store addition. Titan focus is wedding which is driving the growth for the company, even as its market share is moving up appreciably. The higher proportion of value-added (studded) jewellery should result in improved margins. Other businesses, such as watches and wearables and eyewear, continue to grow. Going forward, wearables will be a critical driver of the targeted 20% compound annual growth rate in the watches and wearables division. Positive on Titan company given strong brand proposition and healthy growth in jewellery segments to drive the future growth.
CanFin Homes: CanFin Homes was promoted by Canara Bank in 1987 spread across 204 locations across 21 states and UTs with south contributing ~72% of loans and focus on tier II & III cities. Its housing loans comprise ~90% of advances of which ~74% is to salaried customers. The company caters to customers in the mid & affordable segment with average ticket size being Rs 22 lakh for housing and Rs 8 lakh for non-housing loans. The rising demand for own house, improved affordability, government support (PMAY) and low mortgage penetration in India remain catalysts for sustainable growth in the housing finance segment. Canfin homes focus on non-metro cities with relatively lower competitive pressure and well defined process oriented credit disbursement is seen aiding business growth with low risk volatility. Further, strong parentage and consistent superior asset quality enables it to keep cost of funds lower & leverage higher, thus enabling better margins & RoE. Positive on Canfin Homes given the consistent business growth with focus on efficient operations coupled with relatively lower cost and strong underwriting to benefit earnings and return ratios.
Bulk Deals and insider Trades
Bulk Deals
—
Insider Trade
* Acquisition*
*Thinkfar Tradelink Private Limited Promoter Group Acquisition 7326000 shares of Sanghi Industries Ltd. on 30-Dec-22
*Aziz Yousuf Zaveri Promoter Group Acquisition 1488 shares of Nrb Bearings Ltd. on 29-Dec-22
*Neotrex Steel Private Limited Promoter Group Acquisition 72000 shares of Jsw Energy Ltd on 30-Dec-22
*Disposal*
*Promoter Group Disposal 40000 shares of Star Cement Ltd
Dividend Update
*Shriram Transport Finance Company Ltd. Interim Dividend – Rs. – 15.0000 Ex Date 03-Jan-2023
Corporate Action
Radiant Cash Management will make its debut on the bourses on Wednesday. Trend in the grey market indicates that the stock could list at a marginal premium to the issue price of Rs 99.
Karnavati Finance recommendation to sub-divide/split of existing equity share of the Company from face value of Rs. 10/- each fully paid-up to Rs. 1/- each fully paid-up and matters related thereto, subject to approval of members of the Company and such authority(ies) as may be required.
Dividend
11-Jan-23
WELENT: Special Dividend – Rs. – 7.50
IPO
Sah Polymers: Open: 30-Dec-22; Close: 04-Jan-23
Buyback
Jagran Prakashan: Ex-Date: 06-Jan-23
Softsol India: Ex-Date: 13-Jan-23
Dhanuka Agritech: Open: 26-Dec-22; Close: 06-Jan-23
Bonus
GM Polyplast: Bonus Issue 6:1; Ex-Date: 04-Jan-23
SecUR Credentials: Bonus Issue 3:1; Ex-Date: 04-Jan-23
Rama Steel Tubes: Bonus Issue 4:1; Ex-Date: 06-Jan-23
Globe Commercials: Bonus Issue 1:1; Ex-Date: 06-Jan-23
KPI Green Energy: Bonus Issue 1:1; Ex-Date: 18-Jan-23
Supreme Petrochem: Stock Split From Rs. 4/- to Rs. 2/-; Ex-Date: 06-Jan-23
Rajnish Wellness: Stock Split From Rs. 2/- to Rs. 1/-; Ex-Date: 10-Jan-23
Vishnu Chemicals: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 13-Jan-23
Rights Issue
Indowind Energy: Ex-Date: 13-Jan-23
Hatsun Agro Products: Open: 19-Dec-22; Close: 09-Jan-23
RSWM Ltd: Open: 23-Dec-22; Close: 06-Jan-23
Anjani Portland Cement: Open: 30-Dec-22; Close: 19-Jan-23
3 Open: 27-Jan-23; Close: 10-Feb-23
Amalgamation
Pioneer Distilleries: Ex-Date: 06-Jan-23