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

India Market Wrap #003

Market Breadth as of 16th July 2023

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.

Weekly change in Indices

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.

First Presentations

1. Kilburn Engineering First Ever Presentation, the company is also trying to meet a lot of institutional investors.

Acquisitions

1. Deccan Gold Mines buys a gold mine in Kyrgyzstan

2. Ramco Cements buys a large parcel of land from Prism Johnson

3. Adani buys ~30% stake in Stark Enterprises

4. InfoEdge invests in a Health AI company

5. JayKay Enterprises acquires a defence ancillary company

6. CarTrade Tech acquires OLX business in India, also here

7. Tata Communications acquires a French e-Sim technology company

8. GTPL Hathway acquires a cable TV network for 23cr

9. Kalpataru Power acquires a power EPC company in Brazil

10. Bharti Airtel increases stake in a Cloud Network start up

11. Deep Industries acquires another drilling company

12. Century Textiles acquires land from Hindalco for ~595cr

13. HCL Tech acquires a German start up focused on self driving and e-mobility

14. Technocraft Industries purchases land to set up a new Aluminum scaffolding factory

15. Motherson Sumi acquires a upholstery company

16. Indag Rubber invests 11cr in a battery storage systems company

New Orders

1. Cupid receives an order worth 18cr

2. GPT Infraprojects secures order for 64cr

3. Suzlon gets 17 wind turbine order from KP Energy and 100MW order from Everrenew Energy

4. Premier Explosives gets order worth 552.26cr, this order alone sent the stock up ~65% this week

5. Minda corp receives orders worth 750cr to supply EV chargers

6. Zen Technologies receives order worth ~350cr

7. 3i Infotech gets order worth ~19cr from Bajaj Electricals

8. Deep Industries wins an order worth ~130cr from ONGC

9. Ahluwalia Contracts new order win for ~200cr

10. United Drilling wins international order for ~25cr

11. Markolines order win for ~48cr

12. Vedavaag Systems order win from Indian Railways for 72cr

13. Avantel order win of ~4.24cr from Mazagon Dock

14. RailVikasNigam order win of ~808cr

15. GMR Power order win for 75.69 lakh smart meters

16. Innovator Facade order win for ~52.25cr

17. Inflame Appliances new order for ~15.4cr

Fund Raising

1. Som Distilleries to raise funds via preference issue

2. Xpro India raises 125cr from Malabar India

3. SpiceJet to raise funds

4. Nazara Technologies to raise 750cr by diluting equity

5. Kinetic Engineering raises 54cr via asset sale and equity issuance to promoters

6. Websol Energy to raise funds via preferential allotment

Capacity Expansions

1. PBCL half of latest brownfield expansion commissioned

2. Bright Brothers manufacturing commences from the USA unit

3. 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

4. Kaycee Industries commercial production started from new factory

5. Ultratech Cement commissioning of new cement capacity

6. Praveg new hotel in Gujarat

7. Royal Orchid new hotel in Mumbai

8. Electronics Mart opens a new store in Telangana

9. Nestle to invest 894cr in Odisha to set up a new food processing unit

Mergers and Spin Offs

1. Ador Fontech and Ador Welding Merger in progress

2. Revathi Equipment demerger progress

3. Saregama demerger progress

4. Sastasundar Ventures to demerge its financial services business

Joint Ventures

1. Deep Industries joint venture

2. PG Electroplast joint venture to manufacture LED TVs

Buyback

1. Ashiana Housing buyback worth 55cr

Offer for Sale

1. Patanjali Foods

Rights Issue

1. JayKay Enterprises rights issue

2. Credent Global Finance rights issue

3. Nakodas rights issue

4. Seacoast Shipping rights issue

5. Syschem India rights issue

6. Shree Ajit Pulp rights issue

Bonus Issue

1. Lancor Holdings to issue bonus shares

Migration from SME to Main Board

1. Aartech Solonics to migrate from BSE SME to BSE Main Board

2. Lancor Holdings to migrate to NSE Main Board

Other Important Filings

1. Max Estates gets 1800cr via sales in pre launch window

2. SBI to sell 2% equity in NSDL IPO (confirming the IPO is on its way)

3. L&T signs an agreement with a Spanish defence firm to manufacture submarines in India

4. L&T also signed an agreement with US Navy to repair ships at Indian ports

5. Kintech Renewables first results post acquisition by members of APL Apollo Group

6. Hilton Metal Forgings signs MoU with Egypt govt to build railway wheels and flanges

7. Fermenta BioTech closes plant due to heavy rainfall in Himachal Pradesh

8. Greaves Cotton sells 2 lakh Ampere vehicles in Q1FY24

9. USFDA and other Health authorities making their presence felt here, here, here, here , here, here, and here

10. Dev IT had a fire incident

11. Salora International enters Android TV space

12. Marksans Pharma gets USFDA approval for a OTC tablet

13. Aurobindo gets USFDA approval for its product

14. Granules gets USFDA approval for its new OTC tablet

15. Lupin USFDA approval for its tablet

16. Dr Reddys biosimilar under review by USFDA, EMA and MHRA

17. Wipro to invest $1 Billion in AI in next 3 years

18. Sealmatic gets certification for nuclear applications

19. Dreamfolks ties up with Plaza Premium for international airport lounges

20. Lots of developments in Accel Ltd

21. Ramco Systems, Ramco Cements and Rajapalayam Mills to sell subsidiary to Swiggy - here, here and here

22. Jubilant Foodworks expands Popeyes franchise to Hyderabad

23. Shakti pumps invests 2cr in EV subsidiary

24. Amanasa increase holding in Cyient DLM (the new listing) to 8.48%

25. Chemplast Sanmar to supply new active ingredient to a global agrochemical major

1. Global Pet Industries - A PET Bottle Moulding Machine manufacturer

2. Synoptics Technology - A Network and Datacenter Solutions company

3. Alphalogic Techsys - A Physical Storage Systems company

4. Cyient DLM - A Electronic Manufacturing Solutions (EMS) company

5. 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.

Space is Now Open for Business

Go enjoy the rest of your weekend, see you next Sunday!

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Peace ✌️
Tar

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