Bulk Deal & Insider Trade Update
Bulk Deals*
Sudarshan Chemical Inds L : Norges Bank On Account Of The Government Pension Fund Global Sell 703620 Shares @ Rs. 377.01
*New Delhi Television Limited: Lts Investment Fund Ltd Sell 408981 Shares @ Rs. 362.14
Insider Trade
Acquisition*
*K Gautam Director Acquisition 7337 shares of Ncl Industries Ltd.-$ on 20-Dec-22
*Mr R Haresh on behalf of Sundaram Trust Promoter Group Acquisition 5590 shares of Tvs Srichakra Ltd.
*Shriram Value Services Ltd Promoter Group Acquisition 31379 shares of Shriram Finance Ltd on 15Dec22.
*V C NANNAPANENI Promoter Acquisition 9050 shares of Natco Pharma Ltd. on 19-Dec-22
*Promoter Group Acquisition 6912 shares of Ashapura Minechem Ltd.
*Promoter Acquisition 1215 shares of Orient Bell Limited
*Aziz Yousuf Zaveri Promoter Group Acquisition 2050 shares of Nrb Bearings Ltd.
*Brett Enterprises Pvt. Ltd. Promoter Group Acquisition 4000 shares of Vaibhav Global Ltd on 19-Dec-22
Disposal
*Nikhil Chopra Director Disposal 5000 shares of J.B.Chemicals & Pharmaceuticals Ltd. on 19-Dec-22
*TCI Finance Limited Promoter Group Disposal 5898 shares of Gati Ltd. on 16-Dec-22
*Dr Vijay Sankeshwar Promoter & Director Disposal 4792000 shares of Vrl Logistics Ltd on 14-Dec-22
Revoke
*Nikhil Chopra Director Revoke 5000 shares of J.B.Chemicals & Pharmaceuticals Ltd. on 19-Dec-22
Stock In Action
Persistent Systems: Persistent System had a very steady track record amid the pandemic and macro volatility. Persistent has seen industry-leading growth in the past two years with an organic revenue growth of 33% in FY22. The momentum continued into the first half with Persistent clocking a sequential organic growth of 5.6% in Q1 and 5.5% in Q2. Growth has been broad-based, with all three key industry verticals the BFSI, healthcare life sciences, and technology doing well. The firm has seen a strong addition of large clients and robust wins across revenue buckets. Despite being cautious about macro challenges, the management is confident of delivering an industry-leading revenue performance. For Persistent, its order wins have not been impacted so far, although Q3 could be soft due to holidays and furloughs. The company has added nearly 3000 freshers in the first half and has almost completed the fresher hiring target for the year. The company has achieved an annualized turnover run-rate of $1 billion in Q2 and is now eyeing $2 billion in the next three/four years. Positive on Persistent given the strong revenue traction, improving margin, steady order flows, and waning supply-side concerns.
Narayana Hrudayalaya: Narayana Hrudayalaya has around +1,370 operational beds including the recently acquired 100 beds of Orthopedic and Trauma hospital in Health City (Bangalore). The company has additional land available in Health City and also intends to refurbish Trauma as well as the MSH unit which will help them to enhance capacity. Recently company converted certain beds from the general ward into ICU in its NH Cardiac unit, which helps them to perform more surgeries and improve the case mix. Management remains confident of the sustainability of current profitability. Management guided Capex of Rs.1000 crore annually in FY23E and FY24E. The bulk of CAPEX will be spent on high-performing assets such as Bangalore, Kolkata, and Cayman. Positive on Narayana Hrudayalaya given the higher profitability in in Health City, Bangalore, and higher Capex in high-performing regions such as Bangalore, Kolkata, and Cayman which will enhance growth visibility.
Daily Morning Report
DERIVATIVE SNAPSHOT
Nifty Dec. cl @ 18423.95(-75.35)
Prem : +38.65 v/s +78.85
Nifty Dec. OI (-0.14 lac shares)
PCR increased to 1.01 from 1.00
Option statistics:
Indian VIX: 13.78 v/s 13.55
Addition in OI (Nifty Dec Contract): 18400 CE +8.08 lakhs, 18300 CE +7.00 lakhs
Reduction in OI (Nifty Dec Contract): 18700 CE -2.89 lakhs, 18150 PE -2.75 lakhs
Top 10 rise in volume/rise in price for F&O stock:
INDIGO, IPCALAB, NBCC, ADANIENT, SUNTV, AUBANK, LICHSGFIN, ICICIPRULI, IBULHSGFIN, AXISBANK
Top 10 rise in volume/fall in price for F&O stock:
DABUR, SBILIFE, INDUSTOWER, VOLTAS, HONAUT, DALBHARAT, IDEA, ICICIGI, UPL, SAIL.
Corporate Actions
Jagran Prakashan has fixed 06-January-22 as the record date for its share buyback programme. The company had earlier announced share buyback of up to Rs 345 crore, i.e. 46 million equity shares at Rs 75 each.
Dividend
29-Dec-22
ADVANIHOTR: Interim Dividend – Rs. – 2.00
IPO
KFin Technologies: Open: 19-Dec-22; Close: 21-Dec-22
Elin Electronics: Open: 20-Dec-22; Close: 22-Dec-22
Buyback
Triveni Turbine: Ex-Date: 22-Dec-22
Triveni Engineering: Ex-Date: 22-Dec-22
Kama Holdings: Ex-Date: 22-Dec-22
eClerx Services: Ex-Date: 26-Dec-22
Jagran Prakashan: Ex-Date: 05-Jan-23
Orbit Exports: Open: 15-Dec-22; Close: 28-Dec-22
Tanla Platforms: Open: 20-Dec-22; Close: 02-Jan-23
Dhanuka Agritech: Open: 26-Dec-22; Close: 06-Jan-23
Bonus
Sheela Foam: Bonus Issue 1:1; Ex-Date: 21-Dec-22
Precision Wires India: Bonus Issue 1:2; Ex-Date: 22-Dec-22
Zim Laboratories: Bonus Issue 2:1; Ex-Date: 22-Dec-22
Globe Commercials: Bonus Issue 1:1; Ex-Date: 22-Dec-22
SecUR Credentials: Bonus Issue 3:1; Ex-Date: 26-Dec-22
Advait Infratech: Bonus Issue 1:1; Ex-Date: 28-Dec-22
KPI Green Energy: Bonus Issue 1:1; Ex-Date: 18-Jan-23
Stock Split
Filatex India: Stock Split From Rs. 2/- to Rs. 1/-; Ex-Date: 27-Dec-22
Supreme Petrochem: Stock Split From Rs. 4/- to Rs. 2/-; Ex-Date: 05-Jan-23
Rights Issue
Quint Digital Media: Ex-Date: 22-Dec-22
Hatsun Agro Products: Open: 19-Dec-22; Close: 09-Jan-23
Forthcoming Events
21st December: SIKKO to consider Dividend; Rhetan TMT to consider Bonus issue & Stock Split; Sagar Cements to consider Amalgamation; RKD Agri & Retail, Sankhya Infotech; Vivo Bio Tech; Zodiac Clothing Company, Spandana Sphoorty Financial, Speciality Restaurants to consider Fund raising
22nd December: Ramco Systems to consider Fund raising
24th December: Shriram Transport Finance Company to consider Dividend & Fund raising
26th December: Vaxtex Cotfab to consider Bonus & Fund raising; Central Bank of India to consider Fund raising
27th December: ARC Finance to consider Right Issue; SEPC Limited to consider Fund raising
28th December: Alexander Stamps to consider Fund raising
03rd January: Karnavati Finance to consider Stock Split
04th January: IRB Infrastructure Developers to consider Stock Split
05th January: K P Energy to consider Stock Split
Morning Alerts
Sebi board approves phasing out shares buyback through stock exchanges
The Securities and Exchange Board of India (Sebi) board on Tuesday approved phasing out of buybacks through stock exchanges, along with chalking out of governance mechanisms for addressing lapses at market infrastructure institutions (MIIs) like stock exchanges, depositories, and clearing houses. “We feel the tender route is a more equitable one for buybacks. The other route is vulnerable to favouritism. Except a few, no one knows when the company buyback is going to happen,” Sebi Chairperson Madhabi Puri Buch said after the board meeting. The regulator has given its go-ahead to increase the minimum utilisation of the amount earmarked for buyback through the stock exchange way, from the existing 50 per cent to 75 per cent, until the route is completely phased out by March 2025. Buybacks will be undertaken through a separate window on stock exchanges until then. Sebi will also permit the upward revision of the buyback price until one working day before the record date.
Power demand to fall in H2, gencos’ receivables to go up: Fitch Ratings
Growth in the country’s power demand is likely to slow down in the second half of the financial year ending March 2023 (H2FY23), after a robust 11.3 per cent year-on-year (YoY) growth in the first half of the year (H1FY23), Fitch Ratings said in a report released on Tuesday. Estimates by Fitch and power analysts Business Standard spoke to suggest that the second half of the year could see power demand grow in the region of 7-8 per cent versus the corresponding period last year. For the full year of FY23, Fitch analysts Geetika Gupta and Girish Madan say that power demand will grow in the region of 8 per cent versus 8.2 per cent seen in FY22. While a slowdown in demand hardly bodes well for power companies, the good part is that the receivables of power generating companies (gencos) will improve this year as power distribution companies (discoms) begin clearing their dues, Gupta and Madan said. “Discoms’ total outstanding dues to gencos have been above Rs 1 trillion since September 2020. The government expects discoms to clear all dues by 2026 under the Late Payment Surcharge (LPS) Rules,” they said.
India GDP grew by 9.7% in H1FY23, says Finance Ministry
India’s gross domestic product growth in the first half of the current fiscal year averaged at 9.7 per cent, the finance ministry said in its mid-year expe¬nditure and revenue state¬ment on Tuesday. The ministry said it could not present the medium-term expenditure framework (MTEF)¬, as mandated by the Fiscal Respon¬sibility and Budget Manage¬ment Act, because the global macro-economic situation disrupted the government’s projections. “India’s economic growth, measured by growth in GDP at constant prices, has been estimated at 9.7 per cent for the first half (April-September) of FY23, as compared to 13.7 per cent in H1FY22 and 4.7 per cent in H2 of FY22,” the ministry said. On the MTEF, it said the FRBM Act states that if any deviation is made in meeting the fiscal obligations cast on the central government under this Act, the minister-in-charge of the finance ministry shall make a statement in both Houses of Parliament explaining any deviation in meeting the obligations.
Commodity play
Gold – Rs 54344/10gm, Silver – Rs 67636/kg, Brcrude – Rs 6016/barrel, Degumsyoil – Rs 1296/10kg, Copper – Rs 711/kg.
Corporate News
Dabur India promoters sell 1% stake through block deal to finance ventures.
Airtel acquires stake in Lemnisk to build the largest customer data platform.
Delhivery to acquire supply chain solutions firm Algorhythm Tech.
SGX Nifty indicates positive start to Indian markets trading at 18502 levels up by 76 points or 0.41%. Dow Jones also ended yesterdays session in green up by 0.28% at close.
Sector in focus – Banks, IT, Telecommunications & Chemicals.
