Author: Pranati Deva

Top 30 large, mid and small-cap stocks bought and sold by MFs in June

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Money continued to flow into equities for a second straight month in June, though, at a slower pace, data from the Association of Mutual Funds in India (AMFI) showed on Thursday. June inflows stood at Rs 4,608.7 crore vs Rs 9,235 crore last month, while the total assets under management (AUM) stood at Rs 33.67 lakh crore, the data showed.

SIP flows in June came in at an all-time high at Rs 9,155 crore compared to Rs 8,819 crore in May 2021.

Meanwhile, equity markets were also higher in June with the benchmark Nifty touching a fresh high of 15,916. The frontline index rose around one percent during the month led by the receding second COVID wave boosting confidence in economic recovery, and in-line earnings season.

In a report, ICICI Direct mentioned the top 30 stocks bought and sold by mutual funds in June:

In the large-cap space, the highest buying was seen in Indus Towers, Havells India, SBI Cards, JSW Steel, and Muthoot Finance. Meanwhile, HDFC Life, Godrej Consumer, Punjab National Bank, Biocon, and Tech Mahindra also witnessed massive inflows.

However, stocks like Hindustan Zinc, NMDC, Adani Enterprises, Dabur India, and Titan saw the highest selling in June, the ICICI Direct report noted.

Among mid-caps, Sona BLW Precision Forgings, Shriram Transport Finance, Indian Bank, TVS Motor Company, and ZEE witnessed the highest buying from mutual funds in June. Other top buys also included Manappuram Finance, Godrej Industries, IDFC First Bank, Escorts and Amara Raja Batteries.

On the other hand, the highest-selling was seen in JSW Energy, Vodafone Idea, Sun TV Network, Petronet LNG, and Alkyl Amines, the ICICI Securities report added.

Finally, in the small-cap space, Dodla Dairy, KIMS, Orchid Pharma, Shyam Metalics, and Zensar Tech were the top buys, as per ICICI Direct.

Easy Trip Planners, Rane Holdings, SpiceJet, Gujarat Narmada Valley Fertilisers and Happiest Minds Technologies were sold the most in June.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Steel Strips Wheels rallies 18% on new orders, reduction in pledged shares

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Shares of Steel Strips Wheels (SSWL) hit a 52-week high of Rs 1,350 as they surged 18 percent on the BSE on Wednesday after the company said it received new orders for over $15 million (Rs 113 crore) from Western Hemisphere.

The stock has risen 25 percent in the last two sessions.

“SSWL confirms export orders valued over $15 million from Western Hemisphere. SSWL will complete its execution by August 21 from its Chennai and Dapper plants. Orders for a similar capacity are anticipated in coming months from a similar customer base as the business continues to recover rapidly,” the company said in a BSE filing.

In a separate regulatory filing, the firm also announced that the promoters have released 1.33 lakh pledged shares reducing the number of shares pledged to 32.8 lakh. This is 21 percent of the total paid-up capital of the company and 33.53 percent of total promoter shareholding.

The promoters along with the persons acting in concert hold 98 lakh equity shares in SSWL, which is 62.77 percent of the total paid-up capital of the company and out of which 34.2 lakh equity shares were pledged which was 21.9 percent of the total paid-up capital of the company and 34.89 percent of total promoter shareholding, the firm added.

In the past month, the stock of SSWL has rallied 81 percent, as compared to a marginal 0.26 percent rise in the S&P BSE Sensex.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Tata Metaliks shares soar 8% as firm turns profitable in June quarter

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

The share price of Tata Metaliks soared 8 percent on Wednesday after the firm turned profitable in the June quarter. It reported a net profit of Rs 94.72 crore in Q1 against a loss of Rs 12.36 crore posted in the same period last year.

Total income in Q1 surged 187 percent to Rs 606.45 crore from Rs 210.99 crore in the year-ago period. Expenses also more than doubled to Rs 471.62 crore during the quarter under review from Rs 227.46 crore a year ago.

The stock rose as much as 8 percent to its day’s high of Rs 1,299 per share on the BSE.

According to the company, record sales volumes coupled with strong price realisation, along with stable blast furnace operations, raw materials cost optimisation and higher coal injection have helped the company achieve its best ever quarterly profits.

“Demand for Pig Iron got impacted adversely in Q1 due to Covid second wave as major foundry clusters operated at 30-40 percent capacity. However, the company achieved the highest ever quarterly deliveries on the back of a jump in exports,” a company official said.

Tata Metaliks has its manufacturing facilities at Kharagpur in West Bengal which produces Pig Iron and DI Pipes.

The plant annually produces around 5,50,000 tonnes of hot metal, out of which over 2,00,000 tonnes is converted into DI Pipes and the rest into Pig Iron.

(With inputs from PTI)

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Top stock tips by Sudarshan Sukhani, Mitessh Thakkar for today

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

The Indian market is likely to open lower on Wednesday following weakness in global peers after a sharp rise in US inflation spooked investors while boosting dollar and treasury yields. The trend on SGX Nifty also indicates a negative start for the broader index in India. CNBC-TV18’s in-house panel of experts have picked a list of stocks for the investors to buy/sell in trade today.

Here are the top buy-sell calls by market experts for Wednesday:

Sudarshan Sukhani – s2analytics.com

—Buy Sun Pharma with a stop loss of Rs 675, target at Rs 692

—Buy UPL with a stop loss of 824, target at Rs 844

—Sell Adani Ports with a stop loss of Rs 714, target at Rs 692

—Sell Zee with a stop loss of Rs 218, target at Rs 208

Mitessh Thakkar – mitesshthakkar.com

—Buy ICICI Bank with a stop loss of Rs 653, target at Rs 686

—Sell APL with a stop loss of Rs 976, target at Rs 942

—Buy Apollo Tyres with a stop loss of Rs 230, target at Rs 246

—Buy SBI Life with a stop loss of Rs 1,036, target at Rs 1,085

Catch all live market updates here

Disclaimer: CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Here are key stocks that moved the most on July 13

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Indian indices ended higher on Tuesday, following a rally in Asian peers, mainly boosted by banking and financials. Gains in metals, pharma and heavyweight RIL also lifted the sentiment. A lesser-than-expected rise in June retail inflation also helped put stimulus pullback worries at ease.

The Sensex ended 397 points higher at 52,770 while the Nifty rose 120 points to settle at 15,812.

Back home, ICICI Bank, Grasim, HDFC, Axis Bank and SBI Life were the top gainers while Adani Ports, HCL Tech, Dr Reddy’s, Tata Consumer and Tech Mahindra led the losses.

Broader markets were mixed with the midcap index up 0.2 percent and smallcap index jumping over a percent.

Here are the key stocks that moved today:

Sunteck Realty: Sunteck Realty share price gained over 2 percent after the company reported a 74 percent YoY increase in bookings at Rs 176 crore for the quarter ended June. The rise in bookings was led by the performance of its mid-income and affordable housing projects. Collections for the quarter was up 165 percent from the year-ago quarter to Rs 172 crore, the company said in its regulatory filing. Its collection efficiency improved to 98 percent of pre-sales during the quarter as against 64 percent a year ago.

SML Isuzu: SML Isuzu share price rose 5 percent after Navodya Enterprises bought equity shares in the company. According to bulk deal data on NSE, Navodya Enterprises bought 1,26,429 equity shares in the company at Rs 584.6 per share on the NSE.

Tanla Platforms: Shares of Tanla Platforms were locked in the upper circuit of 5 percent at Rs 930.55 on the BSE in Tuesday’s trade after the company announced its board will consider buyback of equity shares of the company in their forthcoming board meeting. A meeting of the board of directors of the company will take place between July 21-July 22, 2021. In particular, on July 22, the Board shall, inter-alia, discuss and consider the unaudited financial results of the company for the quarter ended June 30, 2021.

Brightcom Group: Shares of Brightcom Group were locked in the upper circuit of 5 percent at Rs 34.85 on the BSE ahead of the board meeting to consider the preferential issue of equity shares to specific individuals. The company further said its board is scheduled to meet on July 13, 2021, to discuss the developments regarding the recently announced LOI and the additional capital needed to execute the proposed acquisition plans. The company is also to consider the preferential issue of equity shares to specific individuals and entities subject to shareholders’ approval through EGM and regulatory approvals, it said.

FDC: Shares of FDC were up 2 percent after the pharma company announced the launch of India’s first oral suspension of Favipiravir – Favenza Oral Suspension, used to treat mild to moderate cases of COVID-19. This prescription-only solution is currently available at all retail medical outlets and hospital pharmacies across the country, the company said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Closing Bell: Sensex ends 397 points higher, Nifty above 15,800; banks, financials gain most

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Indian indices ended higher on Tuesday, following a rally in Asian peers, mainly boosted by banking and financials. Gains in metals, pharma and heavyweight RIL also lifted the sentiment. A lesser-than-expected rise in June retail inflation also helped put stimulus pullback worries at ease.

The Sensex ended 397 points higher at 52,770 while the Nifty rose 120 points to settle at 15,812.

Meanwhile, Asian shares were headed for their best session in more than a fortnight after better than expected Chinese economic data and a rebound in China tech shares extended after Tencent secured regulatory approval for a major deal.

Back home, ICICI Bank, Grasim, HDFC, Axis Bank and SBI Life were the top gainers while Adani Ports, HCL Tech, Dr Reddy’s, Tata Consumer and Tech Mahindra led the losses.

Broader markets were mixed with the midcap index up 0.2 percent and smallcap index jumping over a percent.

Among sectors, Nifty Bank and Nifty Financials surged over a percent each while Nifty Metal, Nifty Pharma, Nifty Energy and Nifty Auto were up over half a percent each. However, Nifty IT and Nifty FMCG ended the day in the red capping some gains.

Sunteck Realty share price gained over 2 percent after the company reported a 74 percent YoY increase in bookings at Rs 176 crore for the quarter ended June. The rise in bookings was led by the performance of its mid-income and affordable housing projects.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Prabhudas Lilladher cuts Nifty’s March 2022 target to 15,909; advises investors to use dip as entry point

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Domestic brokerage house Prabhudas Lilladher has cut the Nifty target for March 2022 to 15,909 from 16,020 earlier. It further noted that it has risen Nifty earnings estimate by 3.6 percent for FY22, however, it has been cut by 0.7 percent for FY23 after FY21 ended with an 18 percent EPS growth.

It stated that markets are driven by hopes of structural economic recovery and high levels of global liquidity and advised investors that any correction due to the third wave of COVID-19 should be used as an entry point.

“Indian economy is recovering from a jolt of 2nd wave of COVID-19 which led to partial lockdown in several states for nearly a month and a half. Although the impact of 2nd wave was limited as factories and supply chain remained operational, the peak case addition of 4.2x daily and spread to small towns and rural India has dampened the sentiment,” the brokerage stated in its report.

June month has seen a gradual easing of restrictions and pick-up in demand, however, there remains uncertainty regarding the sustenance of pent-up demand in the economy, it added.

Prabhudas Lilladher values Nifty at a five percent premium to last 10-year average PE of 20.1x on FY23 EPS of Rs 754 and hence arrived at March 2022 target of 15,909 in its base case scenario.

Meanwhile, in the bull case scenario, it sees Nifty hitting 18,850 by March 2022, however, it is also less than its previous target of 18,977.

Going ahead, it said that it can’t rule out a strong third wave of COVID in the September/ October festival season which will have a telling impact on sentiments and can lead to a considerable cut in FY22 EPS.

It further believes that a spike in global commodity prices, the biggest ever infra capex plan of the US Govt and its focus on inclusive benefits amidst covid impact will result in higher inflation.

“We note that central banks are already indicating increasing interest rates in 2022, one year earlier than estimates, which has the potential to reverse global money flows and spook the markets,” it added.

Also, FII inflows in the last three months have been just Rs 5,200 crore versus Rs 52,300 crore in the first three months of the current calendar year which indicates a cautiousness in investors.

Among long-term trends, it likes Infra, Housing, IT Services, Pharma, Chemicals, BFSI, Agriculture, and E-commerce. Electric Vehicles, OTT, Green energy, Make in India, E-commerce, and Financialisation will be key market drivers in the coming decade, Prabhudas Lilladher added.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Jana Small Finance Bank receives Sebi nod to launch IPO

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Jana Small Finance Bank has received markets regulator Sebi’s approval to raise funds through an initial share sale. According to the draft red herring prospectus (DRHP), the IPO will include a fresh issuance of equity shares worth Rs 700 crore and an offer for sale of up to 92,53,659 shares by existing owners. According to merchant banking sources, the IPO is expected to fetch Rs 1,100 crore.

The small finance bank (SFB), which filed preliminary IPO papers with Sebi in April, obtained its observations on July 9, an update with Sebi showed on Monday.

Bajaj Allianz Life Insurance Company, Hero Enterprise Partner Ventures, ICICI Prudential Life Insurance Company, Enam Securities, North Haven Private Equity Asia Platinum Pte Ltd, QRG Enterprises, and Tree Line Asia Master Fund (Singapore) Pte Ltd are some shareholders that are likely to sell their shares in the SFB.

Until now, only four small finance banks – Suryoday Small Finance Bank, AU Small Finance Bank, Equitas Small Finance Bank, and Ujjivan Small Finance Bank – have come out with IPOs. Meanwhile, another SFB, Fincare Small Finance Bank has also received a Sebi nod for an initial share sale.

The company has proposed to utilise the net proceeds from the fresh issue towards augmenting its Tier-1 capital base to meet future capital requirements, as per the draft papers. Further, the proceeds will also be used for meeting the expenses concerning the offer.

It may also consider a pre-IPO placement of an aggregate amount not exceeding Rs 500 crore, including by way of a proposed further issue to its promoters for an amount aggregating up to Rs 400 crore.

Jana Small Finance Bank is one of the 10 financial institutions which received in-principle approval from the RBI for a small finance bank in 2015. The bank received its final banking license in April 2017.

Axis Capital, ICICI Securities, and SBI Capital Markets are the merchant bankers to the issue.

(With inputs from PTI)

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Sunteck Realty shares jump over 8% after strong Q1 update

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Shares of Sunteck Realty rallied as much as 8.5 percent to its day’s high of Rs 378.40 on the BSE on Tuesday after the firm reported a 74 percent YoY rise in bookings at Rs 176 crore for the June quarter.

The rise in bookings was led by the performance of its mid-income and affordable housing projects. In 2020-21, the developer recorded the highest-ever collections at Rs 780 crore, while reporting bookings worth Rs 1,022 crore, the company said in a quarterly update.

Collections for the quarter also grew 165 percent from a year ago to Rs 172 crore, the regulatory filing added. The company’s collection efficiency improved to 98 percent of pre-sales during the quarter as against 64 percent a year ago.

Commenting on the Q1FY22 operational performance, Kamal Khetan, Chairman and Managing Director, Sunteck Realty said, “In the quarter gone by, we continued our strong momentum in operational performance. Both pre-sales and collections witnessed sturdy growth along with high collections efficiency. The industry consolidation is leading to a rise in the share of business for organised developers and Sunteck will be one of the biggest beneficiaries of this trend.”

Going forward, Khetan expects to leverage the brand franchise and management expertise to evaluate new growth opportunities and thereby continue to increase the overall market share.

“A key to our strong operational performance is being a dominant developer in each of the micro markets and housing segments we are operating. Additionally, the focus on our core strength of sales and marketing and in-house construction capabilities will enable us to sustain this strong pre-sales and collections trend going forward,” he added.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow