Bulk Deals,Corporate Actions & Morning Alerts.15/12/2022
Bulk Deal & Insider Trade Update
Bulk Deals
*Equitas Holdings Limited : Cdc Group Plc Sell 7604280 Shares @ Rs. 125.04
*Vrl Logistics Limited : Max Life Insurance Company Limited Buy 701754 Shares @ Rs. 570
*Vrl Logistics Limited : Icici Prudential Mutual Fund Buy 591366 Shares @ Rs. 570
*Vrl Logistics Limited : Quant Mutual Fund Buy 526316 Shares @ Rs. 570
*Gayatri Projects Ltd : Gmo Emerging Markets Fund Sell 4829466 Shares @ Rs. 8.98
*Cerebra Int Tech Ltd : Hermes Global Fund Sell 1540267 Shares @ Rs. 18.96
*Sturdy : Punjab National Bank Sell 3449705 Shares @ Rs. 0.71
Insider Trade
Acquisition*
*Promoter Group Acquisition 8160371 shares of Bajaj Holdings & Investment Ltd.
*Ashapura Industrial Finance Limited Promoter Group Acquisition 5000 shares of Ashapura Minechem Ltd. on 13-Dec-22
*Aziz Yousuf Zaveri Promoter Group Acquisition 806 shares of Nrb Bearings Ltd. on 13-Dec-22
*Brett Enterprises Pvt. Ltd. Promoter Group Acquisition 6000 shares of Vaibhav Global Ltd on 13-Dec-22
Disposal
*Promoter Group Disposal 8160371 shares of Bajaj Holdings & Investment Ltd.
*Om Prakash Manchanda Director Disposal 19781 shares of Dr. Lal Pathlabs Ltd on 12-Dec-22
*Promoter Group Disposal 439811 shares of Star Cement Ltd
*Promoter Group Disposal 34570506 shares of Macrotech Developers Ltd
Pledge
*RPR Sons Advisors Pvt.Ltd. Mrs.P.Suneela Rani jointly holding Promoter Group Pledge 3730000 shares of Aurobindo Pharma Ltd. on 09-Dec-22
Dividend Update
*Rashtriya Chemicals & Fertilizers Ltd. Interim Dividend Rs. 1.6 Ex Date 15-Dec-2022
*Rashtriya Chemicals & Fertilizers Ltd. Final Dividend Rs. 2.5 Ex Date 15-Dec-2022
*Sukhjit Starch & Chemicals Ltd. Interim Dividend Rs. 8 Ex Date 15-Dec-2022
Stock In Action
Dalmia Bharat: Dalmia bharat acquired JP Associates 9.4 million tonne cement capacity along with clinker capacity of 6.7 million tonne and thermal power generation capacity of 280 MW. The plants are situated in MP, UP and Chhattisgarh. The Dalmia-JPA deal value is pegged at around Rs 5,666 crore. The transaction value translates into an EV/tonne deal valuation of $77. While the deal value is at a substantial discount to the replacement cost as well as historic transactions. Over the past few years, Dalmia has been very active in the M&A space, taking the inorganic route to foray into newer markets and geographies. The acquisition brings the company closer to its long-term strategic goal of achieving 110 MT capacity by FY31. Besides gaining market share, the deal should help Dalmia achieve economies of scale and operating efficiencies through its existing distribution network. The acquisition gives Dalmia 10% market share in central India. Central India has roughly a demand of 54 million tonne per annum with low per capita consumption of 170 kg vs national average of 250 kg. Hence the opportunity in Central India is much larger for cement players. Positive on Dalmia Bharat as the acquisition will give the company access to central region and post acquisition it will become the third largest cement player in India.
Ashok Leyland: At the macro level, retail sales data in November released by Federation of Automobile Dealers’ Association (FADA) show a 32% yoy growth in overall CV sales of the industry. During, 2QFY23, the company reported double-digit revenue expansion on the back of robust sales growth in its HCV portfolio. The beat in HCV performance over the last several months is mainly due to the low base in the pre-Covid period and the government’s continued focus on infrastructure and new mining projects leading to replacement demand rising. The firm had also sensed the rising opportunity from e-commerce driven last-mile delivery that fuelled demand for LCVs. Further, Leyland’s price hikes in the last two quarters have been sustained in the domestic market, mirroring strong demand. Dealers point out that discounting was limited and stable in the first two quarters of FY2023. As the benefits of operating leverage kick in, softer commodity prices, too, are likely to boost profitability in the quarters ahead. Positive on Ashok Leyland on the backdrop of an upcycle in the commercial vehicle sector and its strategy to address growth and costs should translate into earnings expansion.
Corporate Actions
*Ex-Date: 15-Dec-2022*
RCF: Final Dividend – Rs. – 4.10
PTC: Final Dividend – Rs. – 5.80
SUKHJITS: Interim Dividend – Rs. – 8.00
*IPO*
Abans Holdings: Open: 12-Dec-22; Close: 15-Dec-22
Droneacharya Aerial Innovations: Open: 13-Dec-22; Close: 15-Dec-22
Landmark Cars: Open: 13-Dec-22; Close: 15-Dec-22
*Buyback*
Garware Technical Fibres: Open: 05-Dec-22; Close: 16-Dec-22
*Bonus*
Star Housing Finance: Bonus Issue 1:1; Ex-Date: 16-Dec-22
CL Educate: Bonus Issue 1:1; Ex-Date: 16-Dec-22
Gloster: Bonus Issue 1:1; Ex-Date: 16-Dec-22
Sarthak Industries: Bonus Issue 1:3; Ex-Date: 20-Dec-22
Precision Wires India: Bonus Issue 1:2; Ex-Date: 22-Dec-22
*Stock Split*
S&T Corporation: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 16-Dec-22
Star Housing Finance: Stock Split From Rs. 10/- to Rs. 5/-; Ex-Date: 16-Dec-22
Lancer Containers Lines: Stock Split From Rs. 10/- to Rs. 5/-; Ex-Date: 16-Dec-22
*Rights Issue*
Anjani Portland Cement: Ex-Date: 16-Dec-22
Quint Digital Media: Ex-Date: 22-Dec-22
Hatsun Agro Products: Open: 19-Dec-22; Close: 09-Jan-23
Forthcoming Events
Forthcoming Event
15th December: Himatsingka Seide to consider Fund raising
16th December: ADVANIHOTR to consider Dividend; Shree Securities to consider Stock Split; Murudeshwar Ceramics to consider Fund raising
17th December: KBS India to consider Stock Split
19th December: SBC Exports to consider Buyback
21st December: Rhetan TMT to consider Bonus issue & Stock Split
26th December: Vaxtex Cotfab to consider Bonus & Fund raising
Offer For Sale (OFS) Updates.Company: Indian Railway Catering and Tourism Corporation Ltd.
Selling Shareholder: The President of India, acting through and represented by the Ministry of Railways (Promoter)
Offer size: Upto 2,00,00,000 equity shares of Rs. 2/- each (representing 2.5% of the Total Equity Share Capital)
Reservation portion for Retail: 10% of offer size (Upto 2,000,000 equity shares of Rs. 2/- each)
Floor Price: Rs. 680 per share (7.4% Discount to Last Close Price as on December 14, 2022)
Offer Size at Floor Price: Rs. 1360 crore
Trade Date for non-Retail investors (T): December 15, 2022
Trade Date for Retail Investors (T+1): December 16, 2022
Selling Broker: Axis Capital Ltd., Citigroup Global Markets India Pvt Ltd., Goldman Sachs (India) Securities Pvt ltd., JM Financial Institutional Securities Ltd.
Note: As per SEBI OFS Guidelines, Retail bids below the Cut-Off price shall not be eligible for allocation.
Morning Alerts
Morning Alert..
*On track to meet FY23 fiscal deficit target, inflation within RBI band: FM*
The Centre will be able to achieve its fiscal deficit target of 6.4 per cent of gross domestic product (GDP) for 2022-23 (FY23) even after factoring in the Rs 4.36-trillion additional spending, Finance Minister Nirmala Sitharaman said on Wednesday. Replying to the debate on the first batch of supplementary demands for grants for FY23 in the Lok Sabha, Sitharaman said she had been able to allocate more funds because of the buoyancy of revenues, to respond to developing situations on the ground. The finance ministry had said last week that the Centre’s net direct tax collection grew 24.3 per cent to Rs 8.77 trillion — 62 per cent of the FY23 target — during the April-November period. The government is expected to comfortably cross the full-year target of Rs 14.2 trillion.
*Sebi planning ‘micro’ REITs to bring property companies to nascent market*
The Securities and Exchange Board of India (Sebi) is planning to allow “micro” real estate investment trusts (REITs), according to a senior official, to bring a wider set of property companies to the nascent market as India emerges from a pandemic-induced lull. The regulator is considering reducing the size of REITs, allowing them to hold just a single asset or a diversified portfolio, to increase supply and flexibility for investors, said the official. REITs in India must now have a minimum asset value of Rs 5 billion. The possibility that Sebi may lower the minimum has not been reported previously. Sebi was taking an idea from consumer retail markets, the official said. Demand for shampoo in India was limited until the launch of single portion sachets tailored to the budgets of poor households sent the market soaring, the official said.
*India will aim to achieve $100 bn export target for textiles by 2030: Goyal*
Commerce, industry and textiles minister Piyush Goyal on Wednesday said India will aim to achieve $100 billion exports for textiles by 2030 as there are huge opportunities in the sector. Goyal’s comments come in the backdrop of faltering outbound shipments of textiles over the last one quarter amid recessionary trends in the developed economies. The sector is set to get from the slew of trade deals that India is set to sign. In the free trade agreements (FTA) that India has been looking to finalise, negotiators have been insisting on duty-free access for textiles. Citing the case of the FTA negotiations with the United Kingdom, Goyal said the country had a 9 per cent duty on different items and if that goes away, it will benefit the sector, he said.
*Commodities play*
Gold – Rs 54163/10gm, Silver – Rs 67594/kg, Brcrude – Rs 6167/barrel, Degumsyoil – Rs 1296/10kg, Copper – Rs 710/kg.
*Corporate News*
Poonawalla Fincorp to sell housing finance unit to TPG for Rs 3,900 cr.
Indian winemaker Sula’s IPO oversubscribed with bids worth $190 million.
M&M to invest Rs 10,000 cr to set up plant in Pune for upcoming EV range.
SGX Nifty indicates Negative start to Indian markets trading at 18681 levels down by 68.5 points or 0.37%. Dow Jones also closed in red with -0.42% at close.
Sector in focus – Banks, IT, FMCG & Textiles.