Stocks to Watch:Hindalco, , ONGC, , ,

Friday, Jun 11, 2021 - Morning brief for the stock market:

BIG PICTURE * OPEC says global crude stocks near 5-year average as demand improves

TOP EVENTS TODAY * Jan-Mar earnings to be detailed by: Aksh Optifibre, Aksharchem , Atlanta Infrastructure And Finance, Axiscades Technologies, Beml, Bharat Gears, Bharat Heavy Electricals, Cg Power And Industrial Solutions, Chemcrux Enterprises, Cochin Shipyard, Deccan Cements, Dfm Foods, Dlf, Dpsc, Edelweiss Financial Services, Epsom Properties, Carbon, Gopala Polyplast, Petrosynthese, Haldyn Glass, Heranba Industries, Him Teknoforge, Hindustan Hardy, Hindustan Organic Chemicals, (India), Integrated Capital Services, Intense Technologies, Ivp, Jct, Jl Morison India, Joonktollee Tea & Industries, Kiran Vyapar, Likhitha Infrastructure, Lumax Industries, Max Ventures And Industries, Msp Steel & Power, Mystic Electronics, Nile, Nitco, Oricon Enterprises, Parichay Investments, Parsoli Corp, Patel Engineering, Pressure Sensitive Systems India, Radhe Developers India, Sab Industries, Sharat Industries, Shiva Mills, Shreenath Investment Co, Silgo Retail, Southern Gas, Span Divergent, Steel Strips Infrastructures, Steel Strips, Stratmont Industries, Sturdy Industries, Sun Tv Network, Taal Enterprises, The Peria Karamalai Tea & Produce Co, Twentyfirst Century Management Services, Vishal Fabrics, Wim Plast

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* Board Meetings of: + Aksharchem India, to consider dividend + Beml, to consider dividend + Chemcrux Enterprises, to consider dividend + Cochin Shipyard, to consider dividend + Deccan Cements, to consider dividend + Dfm Foods, to consider dividend + Dpsc, to consider dividend + Edelweiss Financial Services, to consider dividend + Goa Carbon, to consider dividend + Haldyn Glass, to consider dividend + Heranba Industries, to consider dividend + Hindustan Hardy, to consider dividend + Info Edge (India), to consider declaration of dividend + Intense Technologies, to consider dividend + Ivp, to consider dividend + Jl Morison India, to consider dividend + Kiran Vyapar Ltd, to consider dividend and voluntary delisting of shares + Likhitha Infrastructure, to consider dividend + Lumax Industries, to consider dividend + Oricon Enterprises, to consider dividend + Orient Refractories, to consider scheme of arrangement + Shiva Mills, to consider dividend + Span Divergent, to consider dividend + The Peria Karamalai Tea & Produce Co, to consider dividend and voluntary delisting of shares + Wim Plast, to consider dividend

* Annual General Meetings of: 5Paisa Capital

INDICATORS (previous session) * NSE provisional net buy/(sell) in bln rupees, Jun 10: FIIs 13.29, DIIs (5.75) * Institutional net buy/(sell) in bln rupees, Jun 9: FIIs 5.98 * FII NSE futures net buy/(sell) in bln rupee, Jun 10: index (9.44), stock 14.62 * Sensex: 52300.47, up 358.83 points; Nifty 50: 15737.75, up 102.40 points * Crude: $70.29/bbl; Rupee: 73.0525/$1; Gold: $1,896.4/ounce; 10-year yield: 6.0199%

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GLOBAL MARKETS * Key indices in the US ended higher on Thursday with S&P 500 index at an all-time closing high of 4239.18, as claims for unemployment benefits reached their lowest since the start of the coronavirus outbreak. This hinted at improving economic conditions. Investors looked past the higher-than-expected CPI data for May.

* Most Asian indices rose today following the positive trend in US equities after encouraging economic data. The market shrugged off higher-than-expected US CPI data on expectations that the jump in inflation is likely to be transitory, which would leave scope for the ongoing central bank support.

DOMESTIC OUTLOOK * Benchmark indices in India are likely to open on a flat note and see some consolidation today after a rebound on Thursday. The positive cues from global equities are likely to limit any correction in the benchmark indices, which are near record highs.

IPO WATCH ======* Sansera Engineering has filed a draft red herring prospectus with the Securities and Exchange Board of India for an initial public offering, which comprises an offer for sale of 17.24 mln shares.

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EARNINGS FOR JAN-MAR ======* ECLERX SERVICES (Consol PAT 987.52 mln rupees, up 78.27% YoY Consol Revenue 4.73 bln rupees, up 34.73% YoY)

* NATIONAL FERTILIZERS (Consol Loss 95.3 mln rupees, vs 2.49 bln rupees Loss Consol Revenue 29.61 bln rupees, down 1.77% YoY)

* NHPC (Consol PAT 4.28 bln rupees, up 171.43% YoY Consol Revenue 16.09 bln rupees, down 25.85% YoY)

SECTOR NEWS ======* AUTOMOBILES: The Federation of Automobile Dealers Associations expects most dealerships to become fully functional by the end of June, as most states are likely to ease lockdowns by then, the industry body's President Vinkesh Gulati said.

* BANKING: The interchange fee paid by one bank to another for use of the other's machines by their customers will be raised to 17 rupees per financial transaction from the current 15 rupees, with effect from Aug 1, the Reserve said.

* ECONOMY: Apparel exporters from the textile hub of Tiruppur have urged the government to ensure additional credit support of up to 10% for micro, small and medium enterprises, without such entities having to opt for restructuring of debt.

* HEALTHCARE: The Union health ministry has issued guidelines for management of COVID- 19 for children aged below 18 years.

* FUNDS: Sundaram Alternate Assets has launched Sundaram Alternative Opportunities Series – High Yield Secured Real Estate Fund III, which is currently open for subscription.

* OIL & GAS: The government will launch a facility to allow consumers of liquefied petroleum gas to choose which distributors they want to refill cylinders from.

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STOCKS ======* : The second wave of COVID-19 had a much milder impact on Bajaj Finance's business compared to the first, and the company has seen pickup in activity in June, Managing Director Rajeev Jain said in an investor call hosted by BofA Securities.

* : Will cut its marginal cost of funds-based lending rates for three-month to one-year maturities by 5 basis points, effective from Saturday.

* BF UTILITIES: SI Investments and Broking has bought 211,293 shares or 0.56% stake in the company at 414.43 rupees a share through a bulk deal on the National Stock Exchange.

* GALAXY SURFACTANTS: Persisting disruptions in the global supply chain caused by the COVID-19 pandemic are impacting the company's ability to cater to rising demand for home and personal hygiene products in its export markets, Executive Director and Chief Operating Officer K. K. Natarajan said.

* GOCL CORP: Wholly-owned subsidiary IDL Explosives has bagged orders of 2.87 bln rupees from to supply raydets, electronic and other detonators and cartridge explosives over two years till May 2023.

* GODREJ PROPERTIES: Wholly-owned subsidiary Godrej Projects Development Ltd has acquired 20% stake in Vagishwari Land Developers Pvt Ltd for 299 mln rupees.

* : Birla Cellulose's Grasim cellulosic division in Vilayat, Gujarat, has successfully commissioned a carbon-disulphide adsorption plant and achieved the level of sulphur-to-air emission norms stipulated by the EU for viscose manufacturing process.

* GUJARAT PIPAVAV PORT: Liquid berth at the port has been made operational, following the damage and disruptions by Cyclone Tauktae. The company continues to carry out its port operations through the mobile power supply system as the national grid power supply remains unavailable.

* : Has raised the prices of its aluminium ingots, billets and wire rods for the second day in a row with effect from Thursday. The company has raised prices by 2,000 rupees per tn, or nearly 1%.

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* INFOSYS: , the company and MakeMyTrip are among companies seeking approval in India to provide online COVID-19 vaccine bookings, the head of the government's tech platform said, as the country tries to make it easier for its huge population to book shots. (RTR)

* JAIN IRRIGATION SYSTEMS: Jain International Trading B.V., a wholly-owned subsidiary of the company, has called for a meeting on Jun 29 to seek formal approval from the bondholders for the restructuring of its senior notes.

* JAYPEE INFRATECH: Lenders to the company are set to vote on the resolution plans submitted by the consortium of Suraksha Group and Lakshdeep Investments and Finance and by government-owned NBCC (INDIA) starting next week, sources said.

* JET AIRWAYS (INDIA): The 28th annual general meeting of the company has been postponed to Tuesday. The meeting, earlier scheduled for Jun 8, was adjourned due to lack of quorum.

* LIC HOUSING FINANCE: The board of directors of the company will meet on Tuesday to consider raising funds through equity shares or other securities by way of preferential issue.

* MANGALORE REFINERY & PETROCHEMICALS: The board has approved the merger of wholly-owned subsidiary ONGC Mangalore Petrochemicals with the company.

* MARKSANS PHARMA: The board will meet on Tuesday to consider raising 3.72 bln rupees through an issue of 50.32 mln warrants at 74 rupees apiece.

* NATIONAL ALUMINIUM CO: Has cut the prices of its aluminium ingots by nearly 2%, or 3,400 rupees per tn, with effect from Tuesday. The price cuts come after the company raised prices at the beginning of the month.

* NHPC: The board approved raising up to 43 bln rupees.

* OIL AND NATURAL GAS CORP: The government will auction unmonetised large oil and gas fields of the company and to boost the country's hydrocarbon production, said Petroleum Minister Dharmendra Pradhan. (PTI)

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* POWER GRID CORP OF INDIA: The board will meet on Jun 17 to consider a bonus share issue.

* SUN PHARMACEUTICAL INDUSTRIES: The company is gradually beefing up its specialty drug pipeline, which includes launching under-trial drug Ilumya as a treatment for psoriatic arthritis over the next two to three years, the company said at a recent virtual summit hosted by Morgan Stanley.

* SUVEN PHARMACEUTICALS: Council of Scientific and Industrial Research – Indian Institute of Chemical Technology is open to issuing licences to pharmaceutical companies in the country to make COVID-19 drug 2-Deoxy-D-Glucose (2-DG), S. Chandrasekhar, director of the -based central research institute said.

* : Basic chemistry products such as alkali chemicals will remain primary growth drivers for the inorganic division of the company, while products that promote good health and those focused on home and personal care are also expected to witness robust growth, the company said in its annual report for 2020-21 (Apr-Mar).

* TATA CONSULTANCY SERVICES: The country's largest technology service player yet again reiterated that the trend of current investments in technology indicate that they are at the beginning of what is set to be a 'multi-year' cycle of technology being upgraded. The company has conducted its annual general meeting for 2020-21 (Apr-Mar) through a video conference for the second year in a row.

A hybrid workplace that gives employees the flexibility to work from home as well as office is likely to be the "new normal", said N. Chandrasekharan, chairman of the company and its parent Tata Sons.

* TIDE WATER OIL (INDIA): The board has approved sub-division of 3.48 mln shares of face value of 5 rupees each into 8.71 mln shares of face value 2 rupees each.

* VEDANTA: Has raised the prices of its aluminium ingots by 2,000 rupees per tn, or nearly 1%, with effective from Thursday. The latest price hike is the third in as many days.

* VISHWARAJ SUGAR INDUSTRIES: The Department of Food and public Distribution has given an in-principle approval to grant interest subvention on a loan of up to 1 bln rupees to

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the company for expanding its existing molasses- and sugarcane-syrup based distillery to 250 kl per day from 100 kl per day, along with a zero liquid discharge system.

* IDEA: Has completed refarming its third-generation or spectrum to in Hyderabad and Warangal to enhance network capacity and improve 4G-based services.

* WIPRO: Chief Executive Officer and Managing Director Theirry Delaporte took home $8.8 mln in salary and incentives in 2020-21 (Apr-Mar), nearly double than what his predecessor Abidali Neemuchwala got the previous year. Delaporte joined the company in July last year and has operated out of France since then.

* YES BANK: The board has approved raising up to 100 bln rupees through debt securities in Indian as well as foreign currency.

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