Pre Market Analysis 12-10-2021

Market Opening - An Overview

Nifty futures on the Singapore Exchange were trading 0.66% lower at 17,842.00, signalling that Dalal Street was headed for a negative opening on Tuesday.

Most Asian equities fell on Tuesday as higher inflation stoked by rising energy costs and the possibility of a widening Chinese crackdown on private industry spooked investors. Japan’s Nikkei and Topix were down 0.93% and 0.68%, respectively. Hang Seng fell 0.77% and CSI 300 edged down 0.37%. 

Indian rupee fell 37 paise to 75.35 against the US dollar on Monday.

Upcoming Earnings

Indbank Merchant Banking Services, Ind Bank Housing, DRC Systems India, JTL Infra, Bhansali Engineering Polymers and GM Breweries.

FII/DII trading data on Monday (11-10-2021)

CategoryBuy ValueSell ValueNet Value
*All numbers are in INR crore

Stocks in News Today

Tata Motors: The automaker has reported a 24% increase in group global wholesales to 2,51,689 units in September quarter of FY22 over the year-ago period. Global sales of JLR stood at 78,251 vehicles in the September quarter which comprised 13,944 units of Jaguar and 64,307 units of Land Rover, the company said. Global wholesales of all Tata Motors’ commercial vehicles and Tata Daewoo range in Q2FY22 were at 89,055 units, up 57% over Q2FY21, Tata Motors said in a statement. 

Hero MotoCorp: The two-wheeler has added to the Pleasure scooter range with the launch of a new variant with a price starting at Rs 61,993 (ex-showroom Delhi). The Pleasure+ XTec comes with a 110cc BS-VI compliant engine producing a power output of 8 BHP.

Delta Corp: The company’s consolidated revenue was down 2% to Rs 74.72 crore, as against Rs 75.87 crores in the previous quarter. The company’s net loss stood at Rs 22.57 crore, compared with Rs 28.93 crore quarter-on-quarter. 

Tata Metaliks: The company’s revenue edged up 7% to Rs 644.84 crore, as against Rs 602.97 crore in the previous quarter. Its net profit fell 42% to Rs 54.62 crore, from Rs 94.72 crore in the first quarter of FY22. 

Maruti Suzuki: The automaker’s production dropped by two-fold in September from the year-ago period due to the shortage of semiconductor chips. It posted a total production of 81,278 units in September as compared with 1,66,086 units in September 2020.

Coal India: The company said it has increased the supply of coal to power utilities across the country to 1.51 million tonnes (MT) per day during the past four days in October 2021. Further, the company’s arm MCL said that on average, 76.6% of coal was provided to power producers during the current month, even as the country’s power generation plants are grappling with coal shortages. Meanwhile, 20.4% has been provided to the non-power consumers, Mahanadi Coalfields Ltd (MCL) said in a statement.

Zee Entertainment Enterprises: The company’s shareholder Invesco has raised questions regarding its management, governance and value destruction. Invesco said the its merger with Sony Pictures is not in the best interest of all shareholders and will benefit only the promoters, who have defaulted on bank loans.

HCL Technologies: The IT major has expanded its strategic partnership with Google Cloud to jointly launch healthcare and life sciences solutions for its customers. The partnership will deliver the best of their domain capabilities and investments through innovation and address the shifts in the industry.

Airtel, Vodafone Idea: The two telecom operators have moved telecom tribunal to challenge Telecom Department’s demand notices for payment of Rs 3,050 crore cumulative penalties in the points of interconnect matter, a source said. The notice is for violating norms by denying Reliance Jio points of interconnect way back in 2016.

Adani Group: The group has taken oven the responsibilities and operations of the Jaipur International Airport from the Airports Authority of India (AAI). Airport director J S Balhara said that the Adani Group will work on the operations, management and development of the Jaipur airport, which has been leased out by the government of India for 50 years, through PPP mode.

Future Group: The group’s firms will convene meetings of their respective shareholders and creditors on November 10 and 11 to get the approval to their proposed merger into Future Enterprises as part of the 24,713-crore deal with Reliance Retail. The meetings are being called as per the order passed by the Mumbai Bench of the National Company Law Tribunal (NCLT).

Prestige Group: The real estate firm posted an 88% year-on-year growth in its sales bookings which stood at Rs 2,111.9 crore for the quarter ending September on better housing demand, as against a sales bookings of Rs 1,123.3 crore. In In the first six months of the fiscal year, its sales bookings rose to Rs 2,845.8 crore, from Rs 1584.4 crore in the year-ago period.

Adani Ports: The company said that its terminals would no longer handle export and import of container cargoes from Iran, Pakistan and Afghanistan from November 15, Reuters reported. “This trade advisory will apply to all terminals operated by Adani Ports and including third party terminals at any company port till further notice,” Adani Ports said.

GAIL: The Competition Commission of India (CCI) passed a final order against two firms – PMP Infratech Pvt Ltd and Rati Engineering – for concerted practices leading to bid rigging of a tender floated by GAIL in 2017-18 for the restoration of well sites located in Ahmedabad and Anand areas of Gujarat. Moreover, the bids submitted by the two firms were from same IP address from the premises of PMP Infratech Pvt Ltd’s office at Ahmedabad, with a one-day gap.

HFCL: The telecom gear maker reported a 61.2% jump in its consolidated net profit to Rs 85.94 crore in the September quarter, as against a profit of Rs 53.32 crore in the corresponding period a year ago. The revenue increased by 6.42% to Rs 1,122.05 crore in Q2 of FY22, from Rs 1,054.32 crore in the year-ago period.

Welspun Corp: The company has joined a global industry project to develop the “world’s first guideline” for transportation of hydrogen gas in existing and new offshore pipelines. The company said in a statement that it will join the H2Pipe Joint Industry Project on Hydrogen Pipelines launched by leading industrial certification body DNV AS Energy Systems Pipeline Technology.

SREI Group: The RBI said it will retain the advisory committee of Srei Infrastructure Finance Ltd (SIFL) and Srei Equipment Finance Ltd (SEFL) to advise the administrator in the operations of the two Srei group companies during the corporate insolvency resolution process. The RBI had appointed a three-member advisory committee to assist Rajneesh Sharma, administrator of the two crisis-ridden firms.