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India Market Wrap 16 July 2023 🌯
This week's market action in less than 5 mins!
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This is your summary of everything important that took place in the Indian markets this week.
This week’s market action in one line
Stocks give up gains, IT sector returns, Defense stocks make merry, Large Cap Consumer stocks climb upwards, Autos and Banks continue their reign
The market started on a strong note but by the end of Friday, majority of stocks pared much of their weekly gains.
The best performing index was the IT sector, followed by metals. Metals and mining-related stocks have been showcasing strength from past two weeks, something we covered in the past two issues of The Wrap - available here and here.
On an individual stock basis, Premier Explosives (65.55%), Ritco Logistics (58.35%), Zen Technologies (37.39%), Lloyds Steel Industries (34.16%), and Refex Industries (32.83%) emerged as clear winners.
Each of them had their own reasons, there is no common theme between all of them. Premier Explosives, for instance, secured a significant order at the beginning of the week - more on that in the corporate announcements section below.
Market breadth wise we are consolidating and I do not expect any large correlated linear moves of all stocks in sector (like we witnessed in April, May and June) but rather individual stocks performing due to their own respective triggers.
Here is a link to all 554 strong stocks based on price and volume action. This list is derived after old school way of manually screening 2300+ charts.
It was a quite week when it came to insider trade activity. There were many ESOP related trades but nothing noteworthy or out of the ordinary.
Axiscades Technologies promoter released the some of the pledged shares.
Here are the important filings of the week, that you should pay attention to.
Deccan Gold Mines buys a gold mine in Kyrgyzstan
Ramco Cements buys a large parcel of land from Prism Johnson
Adani buys ~30% stake in Stark Enterprises
InfoEdge invests in a Health AI company
JayKay Enterprises acquires a defence ancillary company
Tata Communications acquires a French e-Sim technology company
GTPL Hathway acquires a cable TV network for 23cr
Kalpataru Power acquires a power EPC company in Brazil
Bharti Airtel increases stake in a Cloud Network start up
Deep Industries acquires another drilling company
Century Textiles acquires land from Hindalco for ~595cr
HCL Tech acquires a German start up focused on self driving and e-mobility
Technocraft Industries purchases land to set up a new Aluminum scaffolding factory
Motherson Sumi acquires a upholstery company
Indag Rubber invests 11cr in a battery storage systems company
Cupid receives an order worth 18cr
GPT Infraprojects secures order for 64cr
Premier Explosives gets order worth 552.26cr, this order alone sent the stock up ~65% this week
Minda corp receives orders worth 750cr to supply EV chargers
Zen Technologies receives order worth ~350cr
3i Infotech gets order worth ~19cr from Bajaj Electricals
Deep Industries wins an order worth ~130cr from ONGC
Ahluwalia Contracts new order win for ~200cr
United Drilling wins international order for ~25cr
Markolines order win for ~48cr
Vedavaag Systems order win from Indian Railways for 72cr
Avantel order win of ~4.24cr from Mazagon Dock
RailVikasNigam order win of ~808cr
GMR Power order win for 75.69 lakh smart meters
Innovator Facade order win for ~52.25cr
Inflame Appliances new order for ~15.4cr
Som Distilleries to raise funds via preference issue
Xpro India raises 125cr from Malabar India
SpiceJet to raise funds
Nazara Technologies to raise 750cr by diluting equity
Kinetic Engineering raises 54cr via asset sale and equity issuance to promoters
Websol Energy to raise funds via preferential allotment
PBCL half of latest brownfield expansion commissioned
Bright Brothers manufacturing commences from the USA unit
IFGL gets approval from Orissa Govt to set up a 240,000 unit per annum unit and it also parted ways with its Japanese promoters
Kaycee Industries commercial production started from new factory
Ultratech Cement commissioning of new cement capacity
Praveg new hotel in Gujarat
Royal Orchid new hotel in Mumbai
Electronics Mart opens a new store in Telangana
Nestle to invest 894cr in Odisha to set up a new food processing unit
Mergers and Spin Offs
Ador Fontech and Ador Welding Merger in progress
Revathi Equipment demerger progress
Saregama demerger progress
Sastasundar Ventures to demerge its financial services business
Ashiana Housing buyback worth 55cr
Offer for Sale
JayKay Enterprises rights issue
Credent Global Finance rights issue
Nakodas rights issue
Seacoast Shipping rights issue
Syschem India rights issue
Shree Ajit Pulp rights issue
Lancor Holdings to issue bonus shares
Migration from SME to Main Board
Aartech Solonics to migrate from BSE SME to BSE Main Board
Lancor Holdings to migrate to NSE Main Board
Other Important Filings
Max Estates gets 1800cr via sales in pre launch window
SBI to sell 2% equity in NSDL IPO (confirming the IPO is on its way)
L&T signs an agreement with a Spanish defence firm to manufacture submarines in India
L&T also signed an agreement with US Navy to repair ships at Indian ports
Kintech Renewables first results post acquisition by members of APL Apollo Group
Hilton Metal Forgings signs MoU with Egypt govt to build railway wheels and flanges
Fermenta BioTech closes plant due to heavy rainfall in Himachal Pradesh
Greaves Cotton sells 2 lakh Ampere vehicles in Q1FY24
Dev IT had a fire incident
Salora International enters Android TV space
Marksans Pharma gets USFDA approval for a OTC tablet
Aurobindo gets USFDA approval for its product
Granules gets USFDA approval for its new OTC tablet
Dr Reddys biosimilar under review by USFDA, EMA and MHRA
Wipro to invest $1 Billion in AI in next 3 years
Sealmatic gets certification for nuclear applications
Dreamfolks ties up with Plaza Premium for international airport lounges
Lots of developments in Accel Ltd
Jubilant Foodworks expands Popeyes franchise to Hyderabad
Shakti pumps invests 2cr in EV subsidiary
Amanasa increase holding in Cyient DLM (the new listing) to 8.48%
Chemplast Sanmar to supply new active ingredient to a global agrochemical major
Global Pet Industries - A PET Bottle Moulding Machine manufacturer
Synoptics Technology - A Network and Datacenter Solutions company
Alphalogic Techsys - A Physical Storage Systems company
Cyient DLM - A Electronic Manufacturing Solutions (EMS) company
Senco Gold - A large Jewellery retail chain
India’s fast growing pharma industry has a safety problem
How does the business of Western Union work?
That was 7 mins!
On the occasion of successful launch of Chandrayaan 3 Mission, here is my write up on the history of Space Industry and where it is headed in the near term.
Go enjoy the rest of your weekend, see you next Sunday!
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