Stocks suggesstions for the week:
Add to wacth list, the following stocks will be on hike for the week
Bank of Maharastra raising funds of Rs.7500 crores
Bank of Maharashtra board to consider fundraising of Rs 7,500 crore on April 24 : Bank of Maharashtra on April 19 informed the stock exchanges that its board of directors will consider fundraising of up to Rs 7,500 crore in the meeting scheduled on April 24. The options which the board will explore for raising the targeted amount of fund includes follow-on public offer (FPO), rights issue, qualified institutional placement (QIP), preferential issue or “any other mode or combination of thereof”, the regulatory filing stated. The board will also consider the option of raising capital “through an issue of BASEL III or such other securities”, it further said. The development comes days after the Pune-headquartered lender while sharing its quarterly business update, said it posted a credit growth of 29.59 percent at Rs 1.75 lakh crore in the January-March period
Today's Market news - 13/4/2023
TCS
The country's largest IT services exporter reported a 14.8 percent increase in March quarter net profit at Rs 11,392 crore. When compared to the year-ago period, the revenues jumped 16.9 percent to Rs 59,162 crore. For FY23, the company reported a 17.6 percent growth in revenues at Rs 2.25 lakh crore while the profit after tax was 10 percent higher at Rs 42,147 crore.
NTPC
State-owned power giant will raise Rs 3,000 crore by issuing non-convertible debentures on a private placement basis. NTPC has decided to issue unsecured non-convertible debentures of Rs 3,000 crore on April 17, 2023, through a private placement at a coupon of 7.35 percent per annum for a tenor of 3 years, maturing on April 17, 2026.
HDFC
The company on Wednesday said that the market regulator Sebi has cleared a proposal for change in control of HDFC Capital Advisors Ltd (HCAL). Sebi vide its letter dated April 10, 2023, to HCAL, a subsidiary of HDFC Limited and a co-investment portfolio manager, has granted its approval for the proposed change in control of HCAL, subject to certain conditions mentioned in the said letter, HDFC.
BHEL
State-run PSUs BHEL and NPCL on Wednesday entered into a Memorandum of Understanding (MoU) for collaboration for Pressurised Heavy Water Reactor (PHWR) technology-based nuclear power plants. A pressurized heavy-water reactor (PHWR) is a nuclear reactor that uses heavy water (deuterium oxide D2O) as its coolant and neutron moderator. PHWRs frequently use natural uranium as fuel, but sometimes also use very low enriched uranium.
Campus Activewear
Sports and athleisure footwear company said it has acquired a land parcel and a building from FMCG major Marico Industries Ltd in Paonta Sahib, Himachal Pradesh. The all-cash deal was worth Rs 16.70 crore. The deal will help Campus Activewear to expand its capacity for the manufacturing of semi-finished goods (sole and /or upper) and the assembly of footwear.
HDFC Bank
Private banking lender on signed a Master Inter Bank Credit agreement with Export-Import Bank of Korea for a $300 million line of credit. The pact was signed at GIFT City, Gujarat. HDFC Bank said that the line of credit will be used to fund Korea-related businesses
Vedanta
Mining major's 17-year-old plan to build a 15,000-acre Vedanta University in Odisha just got a shocker from India’s top court. The Supreme Court has quashed the acquisition of 6,000 acres of land by Vedanta, accusing it of malafide intentions. The Supreme Court upheld a 2010 verdict by the Odisha HC that had held the land acquisition to be illegal.
AU Small Finance Bank
Jaipur-based bank on Wednesday, April 12, said the Reserve Bank of India (RBI) has approved the reappointment of Sanjay Agarwal as managing director and chief executive officer and Uttam Tibrewal as whole-time director. The bank has appointed Agarwal for a period of three years starting from April 19, 2023, till April 18, 2026, the bank said in an exchange filing. Also, Tibrewal has been appointed for a period of three years from April 19, 2023, till April 18, 2026.
Karnataka Bank
Mangaluru-based private lender said the Reserve Bank of India (RBI) has approved the appointment of Sekhar Rao, executive director of the bank as interim managing director and chief executive officer. The appointment is for a period of three months with effect from April 15, 2023, or till the appointment of a regular managing director and chief executive officer, whichever is earlier.
Top 10 Stocks of the day - 12th April 2023
HDFC Bank: Private lender HDFC Bank on Tuesday said that the bank's board of directors proposes to raise ₹50,000 crore through bonds in the next twelve months on a private placement basis. The private lender's board of directors are to meet on 15 April 2023, said HDFC Bank in its regulatory filing.
ONGC: State-run Oil and Natural Gas Corporation Limited (ONGC) has commissioned a new gas collecting station (GCS) in its Bokaro coal bed methane block. It is the first gas collecting cum gas compression station in the Bokaro CBM Block.
LIC: LIC on Tuesday said that it has appointed PC Paikray as Chief Risk Officer and Ratnakar Patnaik as Chief Investment Officer. Ratnakar Patnaik, who has been appointed as Chief Investment Officer, will replace P R Mishra, who has been transferred and posted to another assignment. His appointment as CIO came into effect from April 10, 2023.
Adani Enterprises: Adani Enterprises Ltd (AEL) on Tuesday said it has incorporated a wholly-owned subsidiary for carrying out coal washery-related business. "The company has incorporated a WOS Pelma Collieries Ltd (PCL) on April 7, with an initial authorised share capital of ₹10,00,000 and paid-up share capital of ₹5,00,000.
Delhivery: Internet Fund III Pte Ltd, the venture capital fund managed by US-based investment management company Tiger Global Management, offloaded shares of Delhivery in the market. The venture capital fund, Internet Fund III Pte Ltd offloaded 11,753,735 shares at an average price of ₹330 via open market transactions on Tuesday.
Sula Vineyards: The largest wine producer in the country, announced March 2023 quarterly sales figures. In Q4, Sula recorded the highest-ever annual revenues in both its own brands and wine tourism business. Sula registered an upside of 15% in own brands sales to ₹104.3 crore during the March quarter as compared to ₹90.7 crore in the corresponding quarter last fiscal.
Kalpataru Power Transmission: Kalpataru Power Transmission Ltd (KPTL) and its arms have bagged orders worth ₹3,079 crore in March and April so far this year. The orders include civil works for a data centre and buildings of ₹1,234 crore, an EPC order of ₹754 crore in railway business and water supply projects of ₹708 crore in India.
Delta Corp: Delta Corp, a casino gaming company, has registered a 6.4% year-on-year growth in profit in Q4 of FY23 at ₹51.17 crore. The results were impacted by weak operating performance. Consolidated revenue grew by 4% YoY to ₹227.16 crore. On the operating front, EBITDA fell by 12.8% YoY to ₹60.18 crore. The overall margin declined by 510 bps to 26.5% for the quarter.
Abans Holdings: Abans Investment Managers Pvt Ltd, a subsidiary of Abans Holdings Ltd on Tuesday said that it has acquired the portfolio management services (PMS) business of SATCO Capital Markets Limited. SATCO Capital Markets Ltd through its PMS license manages ₹80 crore AUM in SATCO Growth & Momentum Portfolio since January 2012 which will be taken over by Abans Broking Services Pvt Ltd.
NLC India: Shareholders of NLC India Ltd have approved the appointment of Prasanna Kumar Motupalli as Chairman and Managing Director (CMD) of the company. The members of NLC India have passed the ordinary resolution approving his appointment to the top post, the company said in a regulatory filing on Tuesday.
Corporate Actions for the Month of April 2023 - NSE
| SYMBOL | COMPANY NAME | PURPOSE | EX-DATE | RECORD DATE |
| EMAMILTD | Emami Limited | Buy Back | 12-Apr-23 | 12-Apr-23 |
| VBL | Varun Beverages Limited | Dividend - Re 1 Per Share | 12-Apr-23 | 12-Apr-23 |
| VISAKAIND | Visaka Industries Limited | Interim Dividend - Rs 7 Per Share | 12-Apr-23 | 12-Apr-23 |
| EDELWEISS | Edelweiss Financial Services Limited | Interim Dividend - Re 0.25 Per Share | 13-Apr-23 | 13-Apr-23 |
| IZMO | IZMO Limited | Extra Ordinary General Meeting | 13-Apr-23 | - |
| GOODLUCK | Goodluck India Limited | Interim Dividend - Rs 2 Per Share | 13-Apr-23 | 14-Apr-23 |
| SDBL | Som Distilleries & Breweries Limited | Rights 10:211@ Premium Rs 135/- | 13-Apr-23 | 14-Apr-23 |
| BRITANNIA | Britannia Industries Limited | Interim Dividend - Rs 72 Per Share | 13-Apr-23 | 13-Apr-23 |
| RUSHIL | Rushil Decor Limited | Rights 1:3 @ Premium Rs 152/- | 13-Apr-23 | 13-Apr-23 |
| HUHTAMAKI | Huhtamaki India Limited | Annual General Meeting/Dividend - Rs 2 Per Share | 20-Apr-23 | - |
| TIPSINDLTD | TIPS Industries Limited | Face Value Split (Sub-Division) - From Rs 10/- Per Share To Re 1/- Per Share | 21-Apr-23 | 21-Apr-23 |
| VESUVIUS | Vesuvius India Limited | Interim Dividend - Rs 8.25 Per Share | 26-Apr-23 | 26-Apr-23 |
| ABB | ABB India Limited | Annual General Meeting/Dividend - Rs 5.50 Per Share | 27-Apr-23 | - |
INDIAN STOCK MARKET NEWS:
INDIAN STOCK MARKET NEWS:
📍Central government to form single trade body to promote India's exports
📍L&T, Afcons and JSW in race to build container terminal at Great Nicobar Island
📍India's edtech sector put at risk over inflated valuations, says serial entrepreneur
📍United Arab Emirates emerging as an alternative to rupee trade with Russia
📍Reliance in advanced talks for partnership to sell Campa range of soft drinks
📍Tamil Nadu to insist on complete ban on online gaming, says expert panel chief
SAUDI ARAMCO MAY SUPPLY FULL OIL VOLUMES TO ASIAN REFINERS DESPITE OPEC+ CUT
Despite the OPEC+ cut, Saudi Aramco may supply full volumes of crude oil to some Asian refiners.
At least four customers in North Asia have been told by Saudi Aramco that they will receive full contract volumes of crude oil in May.
Saudi Arabia, the world’s largest oil exporter, is expected to reduce production by 2.5 million barrels per day in May and June from a baseline of 11 million barrels per day under the supply deal.
NSE Indices launches India's first-ever REITs and InvITs index
NSE Indices launches India's first-ever REITs and InvITs index
NSE Indices Ltd, an arm of the National Stock Exchange (NSE), on Tuesday launched the country's first-ever Real Estate Investment Trusts and Infrastructure Investment Trusts index — Nifty REITs and InvITs Index.
The index aims to track the performance of REITs and InvITs that are publicly listed and traded on the NSE, the exchange said in a statement.
Q4 EARNING SEASON BEGINS - Quarter 4 Result Dates of Various Companies
11th April - 2023 - DELTA CORP
12th April - 2023 - TCS
12th April - 2023 - ANAND RATHI
12th April - 2023 - DHARANI SUGARS
12th April - 2023 - NATIONAL STANDARD
13th April - 2023 - INFOSYS
13th April - 2023 - AVANTEL
15th April - 2023 - HDFC BANK
17th April - 2023 - ANGEL ONE
18th April - 2023 - ICICI LOMBARD
18th April - 2023 - SCHAEFFLER INDIA
18th April - 2023 - TATA COFFEE
18th April - 2023 - ICICI SEC.
19th April - 2023 - TATA COMM.
20th April - 2023 - HCL TECH
20th April - 2023 - ICICI PRU.
22nd April - 2023 - ICICI BANK
24th April - 2023 - MAHARASHTRA SCOOTERS
25th April - 2023 - BAJAJ AUTO
25th April - 2023 - HDFC AMC
25th April - 2023 - NESTLE INDIA
25th April - 2023 - ELECON
25th April - 2023 - MAHINDRA CIE
25th April - 2023 - MAHINDRA LIFESPACES
25th April - 2023 - MAHINDRA HOLIDAY
26th April - 2023 - BAJAJ FINANCE
26th April - 2023 - HDFC LIFE
26th April - 2023 - LTTS
26th April - 2023 - POONAWALLA FINCORP
26th April - 2023 - UTI AMC
27th April - 2023 - AXIS BANK
27th April - 2023 - BAJAJ FINSERV
27th April - 2023 - WIPRO
27th April - 2023 - TECH MAHINDRA
27th April - 2023 - COFORGE
27th April - 2023 - MPHASIS
The Intraday trades can plan accordingly for their trade in equity and Derivatives.
Top 10 stocks - 11/04/2023
State Bank of India: The largest public sector lender in the country, State Bank of India (SBI) on Monday announced its plan to raise up to $2 billion for the financial year FY24 through the issuance of senior unsecured notes. The senior unsecured notes will be in US dollars or any other convertible foreign currency. Also, the board will consider whether to issue these notes through a public offer and or private placement.
Reliance Industries: After announcing its plan to revive the iconic soft drink, Campa-Cola, to build its presence in India's soft drinks market, Reliance Industries-backed Reliance Consumer Products is all set to compete with dairy brands like Amul and Mother Dairy by venturing into the ice cream and dairy market. The company is planning to launch ice cream products under its brand.
Bajaj Finserv: Bajaj Finserv Mutual Fund, which received Sebi's clearance to begin the mutual fund operations last month, has filed draft documents with the markets regulator for launching seven schemes in equity, debt and hybrid spaces. The newest player has filed papers to launch mutual fund schemes -- liquid fund, money market fund, overnight fund, arbitrage fund, large and mid-cap, balance advantage and flexi cap fund.
L&T: Larsen and Toubro on Monday said its hydrocarbon business, L&T Energy Hydrocarbon or LTEH, recently secured an order under its ‘advanced value engineering and technology’ vertical from Chambal Fertilisers and Chemicals. The order has been awarded by Chambal Fertilisers for licence plus engineering, procurement and construction of a technical ammonium nitrate.
Bajaj Auto: Bajaj Auto has announced that it has successfully completed the transfer of Triumph India's sales and marketing operations. The announcement comes after three years when the duo announced a strategic partnership in 2020. In a regulatory filing today, Bajaj Auto said "This launches the next phase of the partnership, effective from April 1st, 2023, where all the current 15 Triumph Motorcycle dealerships will be managed by Bajaj Auto.
Glenmark Pharmaceuticals: Glenmark Pharmaceuticals Ltd is considering selling a majority stake in Glenmark Life Sciences to pare debt, said two people familiar with the development. Kotak Mahindra Capital Co. Ltd has been hired to run the sale process, and the company has contacted buyout funds to gauge investor interest, the people said.
Bank of Baroda: Bank of Baroda on Monday reported its Q4 business update, said that the bank's total deposits grew by 15.1 per cent to ₹12.04 lakh crore as of the quarter ended 31 March 2023, as compared to ₹11.4 lakh crore in the corresponding quarter last fiscal. "Total Deposits of the bank grew by 15.1% YoY and 4.7% QoQ to Rs. 12.04 trillion as of 31st March 2023.," said the bank in its regulatory filing.
Vedanta: Anil Agarwal-led Vedanta Ltd on Monday said that the company would hold a meeting on April 13, 2023, to consider the issuance of non-convertible debentures (NCDs) on a private placement basis. “The Company proposes to hold a meeting of its duly constituted Committee of Directors on Thursday, April 13, 2023, to consider the proposal for issuance of Non-Convertible Debentures on a private placement basis.
JSW Steel: JSW Steel on Monday said the company reported its highest ever consolidated crude steel production at 24.15 million tonne in FY23, registering a growth of 24 per cent year-on-year. The company has reported its highest-ever quarterly consolidated crude steel production at 6.58 million tonnes for the March quarter of FY23, registering a growth of 13 per cent year-on-year (YoY) and 7 per cent quarter-on-quarter
Top Stocks to watch
Tata Motors: Tata Motors Ltd. has recorded an 8% increase in its global wholesale vehicle sales business in the March quarter of FY2023, even as the car business, globally, is witnessing a lackadaisical phase in the wake of rising loan rates and the consequent weakening purchasing power among customers.
Adani Green Energy: The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) have announced that Adani Green Energy will be moved to the first stage of the long-term additional surveillance measure framework from April 10, as reported by PTI.
ONGC: State-owned Oil and Natural Gas Corporation (ONGC) on Saturday said that it has bought 11,520,000 shares of Mangalore SEZ Limited from IL&FS. The company in its regulatory filing said it has acquired 1,1520,000 equity shares of Mangalore SEZ Ltd( MSEZ) from IL&FS at a total consideration of ₹40.32 crore, said ONGC in its regulatory filing .
Titan: Titan Company on Thursday said that the March quarter of the fiscal year recorded healthy double-digit growth across all of its key businesses. The revenues of Titan grew by 25 per cent year-on-year aided by higher growth contributions from watches & wearables and emerging businesses.
Adani Wilmar: Fast-moving consumer goods firm Adani Wilmar a joint venture between Adani Enterprises and Wilmar International, posted revenues of ₹55,000 crore in FY23, up 14% from ₹54,213.5 crore in 2021-22. Its food and FMCG business grew 55% from a year earlier to around ₹3,800 crore in FY23, Adani Wilmar informed the exchanges on Thursday.
Godrej Consumer Products: FMCG major Godrej Consumer Products Ltd (GCPL) on Thursday said the company will be investing ₹100 crore in Early Spring, a new ₹300 crore early-stage consumer fund being set up by Spring Marketing Capital (Spring).GCPL will anchor the fund in addition to offering its expertise and experience to help founders build strong, sustainable companies.
Muthoot Finance: The largest gold loan NBFC in the country, Muthoot Finance on Thursday announced it has declared an interim dividend of ₹22 per equity share for the financial year FY23. In percentage terms, the dividend comes to around 220%.
Nazara Technologies: Listed gaming startup Nazara Technologies Ltd’s announced its subsidiary Sportskeeda has completed the acquisition of a 73.27% stake in Pro Football Network Inc. Sportskeeda Inc, is a wholly owned subsidiary of Absolute Sports Private Limited, which is a material subsidiary of Nazara Technologies. Sportskeeda Inc has acquired the 73.27 per cent stake in Pro Football Network Inc.
REC: State-owned non-banking finance firm REC Ltd on Saturday said it had raised $750 million through the issuance of green bonds. The net proceeds from the issue of the bonds will be applied to finance, in whole or in part, the eligible green projects in accordance with the approvals granted by the Reserve Bank of India from time to time and in accordance with the ECB guidelines.
Kalyani Forge: Forging company Kalyani Forge on Friday said its Chief Financial Officer (CFO) Laxmi Narayan Patra has resigned. His resignation is effective from April 6, 2023. This is to inform you that Chief Financial Officer of the Company, had tendered his resignation due to personal reasons effective from the end of business hours of 6th April 2023.
