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11008, Raheja Centre, 214, Nariman Point, Mumbai-400 021, Ph- 022 – 6611 1700, Extn. - 704 www.ashikagroup.com

Morning Report 29 June 2020

Commodities Price % Chg.

Crude (US$/BBL) 38.5 (1.33)

Brent (US$/BBL) 41.0 (0.82)

Gold (US/oz) 1780.3 0.47

Silver (US$/oz) 18.2 0.72

Copper (US$/MT) 5985.5 1.79

Alum (US$/MT) 1582.0 2.49

Zinc (US$/MT) 2057.0 1.38

World Indices Latest % Chg

Nifty 10383 0.91

Sensex 35171 0.94

DowJones 25016 -2.84

Nasdaq 9757 -2.59

Hangseng 24550 -0.93

Shanghai 2980 0.30

Nikkei 22512 1.13

Strait Times 2605 0.55

Kospi 2135 1.05

Taiwan 11661 0.42

FTSE 6164 0.27

CAC 4910 -0.18

DAX 12089 -0.73

NSE Sect. Indices Latest % Chg

NIFTY IT 14995 4.05

NIFTY BANK 21592 0.40

NIFTY FMCG 29757 (1.18)

NIFTY METAL 2043 0.62

NIFTY PHARMA 10138 (0.54)

NIFTY AUTO 6731 (0.09)

NIFTY ENERGY 14833 2.26

NIFTY INFRA 3079 1.32

ADR Cl. Values % Chg.

ICICI Bank 9.05 (0.33)

HDFC Bank 45.09 (0.56)

Infosys 9.53 0.24

Vedanta 5.77 (0.23)

Dr. Deddy's Labs 52.19 (1.02)

Wipro 3.27 0.01

Tata Motors 6.60 (0.35)

Market Sensor

U.S. stocks ended on a highly negative note on Friday after spending theentire session in the red as investors turned cautious and chose to exitcounter following a sharp surge in new coronavirus infections in severalstates. The major averages all ended with sharp losses. The Dow plunged730.05 points or 2.84 percent to settle at 25,015.55, registering its steepestfall in two weeks. The Nasdaq slid 259.78 points or 2.59 percent to 9,757.22and the S&P 500 tumbled 74.71 points or 2.42 percent to 3,009.05.

Domestic shares rose notably on Friday, with financials and informationtechnology companies pacing the gainers on the back of positive global cues.Broad-based buying was seen despite rising coronavirus infections in thecountry and the military stand-off between India and China at the border. Thebenchmark S&P BSE Sensex rose by 329.17 points, or 0.94 percent, to35,171.27, while the broader NSE Nifty index ended up 94.10 points, or 0.91percent, at 10,383. On Friday’s trading session, FIIs sold net Rs 753.18 cr incash market whereas, DII bought net Rs 1304.18 cr in cash segment.

Global News

❖The European Central Bank will need to keep monetary policy loose until itsinflation target is clearly in sight, European Central Bank policymakerFrancois Villeroy de Galhau said on Sunday in an interview with Germannewspaper Handelsblatt. (Reuters)

❖U.S. Housing and Urban Development Secretary Ben Carson said on Sundaythe United States and Britain could agree a trade deal that did not cover allsectors straight away, instead leaving the more difficult issues for a laterdate. (Reuters)

❖China’s central bank said on Sunday that the country’s economic growthfaces challenges from the global coronavirus pandemic, despite signs ofimprovement amid business re-openings. (Reuters)

❖Iran’s Central Bank has injected hundreds of millions of dollars to stabilisethe currency market, bank governor Abdolnaser Hemmati said on Saturday,after the Iranian currency fell to historic lows this week. (Reuters)

❖A pilot scheme could involve at least two of China’s largest banks gettingthe green light from the China Securities Regulatory Commission (CSRC) toconduct investment banking business on the mainland, according to Caixin.(Reuters)

Vol. ShockersLast Day

(Lakh)

2 Wk Avg.

(Lakh)

Vol. Ch.(Times)

GPPL 48.83 5.2 9

UCOBANK 84.40 12.1 7

BALAMINES 1.48 0.4 4

HEXAWARE 13.66 3.4 4

HDFC 12.04 3.7 3

Precious Metal Closing Chg (Rs.)

Gold (Rs/10gm) 48117 96

Silver (Rs/1kg) 48280 735

Advances / Declines BSE NSE

Advances 1619 1097

Declines 1097 767

Unchanged 149 65

Total 2865 1929

Nifty Gainers

Company Price(Rs) Chg(%)

INFY 747.00 6.64

BPCL 394.30 6.50

TCS 2115.20 4.92

IOC 89.10 4.76

INDUSINDBK 493.00 3.76

Nifty Losers

Company Price(Rs) Chg(%)

INFY 747.00 6.64

BPCL 394.30 6.50

TCS 2115.20 4.92

IOC 89.10 4.76

INDUSINDBK 493.00 3.76

Indian Forex Closing Chg % Chg

USD/INR 75.476 (0.159) (0.21)

GBP/INR 93.710 (0.208) (0.22)

EUR/INR 84.626 (0.441) (0.52)

JPY/INR 70.470 (0.100) (0.14)

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Economic News

❖Amid India-China border stand-off that has sparked a campaign in thecountry to boycott Chinese products, a survey by community platformLocalCircles says only 37 per cent of its respondents said they check thecountry of origin before making online purchases. (BS)

❖A government order asking oil marketing companies to stock up twomonths' supply of LPG cylinders in Kashmir Valley has sparkedspeculations, especially in the wake of the LAC face-off, with NC leaderOmar Abdullah questioning the need for such a move. (BS)

❖In the last two decades, China has established itself as a major tradepartner of the South Asian nations. (BS)

❖India will block the requests of Japan and Chinese Taipei for setting upof a dispute settlement panel at the World Trade Organization (WTO)against New Delhi's customs duties on imports of certain informationand communications technology (ICT) products, an official said. (BS)

❖Real estate companies that opted for lower GST rates of 1 per cent and 5per cent from April 1, 2019, but could not procure 80 per cent of thetotal supplies from registered dealers, will have to pay tax on theshortfall in such procurement by June 30. (BS)

❖Starting Monday, the government will auction five mineral blocks inGujarat and Karnataka having reserves of 667.2 million tonnes. (BS)

❖The government has again extended the deadline to bid for Air India bytwo months till August 31 as the coronavirus (Covid-19) fallout hasdisrupted economic activities globally. (BS)

❖The government has approved an additional Rs 1,691 crore for highwayworks by the Border Roads Organisation (BRO) in Jammu & Kashmir andUttarakhand for 2020-21. (BS)

❖Power producers' total outstanding dues owed by distribution firmsrose nearly 63 per cent to Rs 1.23 trillion in April 2020 over the samemonth previous year, reflecting stress in the sector. (BS)

❖With the Covid-19 pandemic casting a shadow on business andindustrial activities, top leaders of national trade union organisationshave pleaded with the government to support MSMEs to tide over thecrisis. (BS)

❖State oil marketing companies did not hike petrol and diesel prices inDelhi on Sunday, pausing after 21 days as the Congress party said itwould protest against the government. (BS)

Global Forex Closing Chg % Chg

EUR-USD 1.1216 0.0001 0.01

GBP-USD 1.2333 (0.0078) (0.63)

USD-JPY 107.21 0.0400 0.04

1008, Raheja Centre, 214, Nariman Point, Mumbai-400 021, Ph- 022 – 6611 1700, Extn. - 704 www.ashikagroup.com

Domestic News

❖HDFC Bank is planning to raise ₹10,000 - 13,000 crore via share sales inIndia and issuance of American Depository Receipts (ADRs) in the thirdquarter of 2020-21, joining a growing list of Indian banks looking to shoreup capital.

❖The board of directors at IDBI Bank has approved a plan to offload 27per cent stake in IDBI Federal Life Insurance (IFLI) at a combined value ofRs 595 crore.

❖Carlyle has agreed to pick up a significant minority stake in AjayPiramal’s pharma business for $490 million trumping rival private equitypeers KKR and TA Associates.

❖S&P Global Ratings said it has lowered its ratings on Bajaj Finance tojunk, reflecting the ratings agency’s view that economic risks haveincreased for banks and financial institutions operating in India.

Bond Markets Closing Chg

10-yr bond 6.07 0.20 bps

Interbank call 3.54 -2.54 bps

36

7

1,2

37

42

4

16

9 1,7

67

-1,0

51

-75

3

1,1

31

-88

1

-1,2

88

45

4

-1,5

25

-25

61

,30

4

-2000

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-1000

-500

0

500

1000

1500

2000

18

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FII/FPI DII

Rs.Cr Institutional Activity (Last 5 trading Sessions)

0

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

0

20,000

40,000

60,000

80,0002

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Rs.CrRs.Cr Market Turnover - last 5 Trading Sessions

NSE Cash BSE Cash NSE F&O(RHS)

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Domestic News (Cont...)

❖Radhakishan Damani's Bright Star Investments acquired 5,00,000shares in Andhra Paper at Rs 206.23 per share.

❖S&P Global Ratings has downgraded ratings on four Indianfinance companies on weak economic conditions due to covid-19and affirmed ratings on two others. Shriram Transport Finance'srating has been downgraded from BB to BB-negative, BajajFinance's from BBB-negative to BB-plus, Manappuram Finance'sfrom BB-negative to B-plus and Power Finance Corporation's fromBBB-negative to BB-plus.

❖ ITI signs accord with Tech Mahindra for wireles technology in theareas of 4G and 5G smart networks, smart cities and healthcareservices.

❖Parent Vedanta Resources (VRL) has said it is in the process ofarranging the financing for the delisting and it expects this to beconcluded in the coming weeks.

❖Adani Transmission has signed an agreement with theMaharashtra State Electricity Transmission Company for executionof the Kharghar Vikhroli transmission project.

❖The government has permitted Indian airlines to increase theirnumber of domestic passenger flights to 45% of their pre-covidcapacity, according to an official order.

❖Axis Bank has clarified that S&P's rating report inadvertentlymentions the bank being on CreditWatch. S&P has confirmed thatit is an editorial error and bank is on stable outlook.

❖Mahindra Logistics board of directors have approved furtherinvestment in Lords Freight (India).

❖ JSW Steel is trying to maintain capacity utilization at its mainsteel plant at Ballari in Karnataka even as it has extended WorkFrom Home option to 50% of its workforce amid growing numberof Covid cases in the district.

❖NCLT approves merger of Investment Trust of India's reinsurancearm with itself.

❖Adani Power has got shareholders' approval for raising up to Rs2,500 crore in one or more tranches to sustain business growthand finance expansion plans.

❖Phoenix Mills board to consider fund raising on June 29.

❖CARE Ratings downgrades BHEL's long-term bank facilities toCARE AA while the outlook has been maintained as stable.

1008, Raheja Centre, 214, Nariman Point, Mumbai-400 021, Ph- 022 – 6611 1700, Extn. - 704 www.ashikagroup.com

2.62.9 3.0 3.0 3.2 3.1 3.3

4.0

4.6

5.5

7.47.6

6.6

1.8

2.8

3.8

4.8

5.8

6.8

7.8

8.8

Fe

b-1

9

Ma

r-1

9

Ap

r-1

9

Ma

y-1

9

Jun

-19

Jul-

19

Au

g-1

9

Se

p-1

9

Oct

-19

No

v-1

9

De

c-1

9

Jan

-20

Fe

b-2

0

CPI Inflation (%)

-15

-10

-5

0

5

10

15

Fe

b-1

9

Ma

r-1

9

Ap

r-1

9

Ma

y-1

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Jun

-19

Jul-

19

Au

g-1

9

Se

p-1

9

Oct

-19

No

v-1

9

De

c-1

9

Jan

-20

Fe

b-2

0

Sectoral IIP (YoY %)

MiningManufacturingElectricityGeneral

2

3

4

5

6

7

8

9

05

-Ja

n-0

9

21

-Ap

r-0

9

20

-Ap

r-1

0

27

-Ju

l-1

0

02

-No

v-1

0

17

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1

16

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n-1

1

16

-Se

p-1

1

17

-Ap

r-1

2

19

-Ma

r-1

3

20

-Se

p-1

3

28

-Ja

n-1

4

03

-Ma

r-1

5

29

-Se

p-1

5

04

-Oct

-16

02

-Au

g-1

7

01

-Au

g-1

8

06

-Ap

r-1

9

07

-Au

g-1

9

27

-Ma

r-2

0

Repo & Rev.Repo (%)

Repo Rate (%)

Reverse Repo Rate (%)

2.5

3.0

3.5

4.0

4.5

5.0

5.5

6.0

6.5

17

-Ja

n-0

9

13

-Fe

b-1

0

27

-Fe

b-1

0

24

-Ap

r-1

0

28

-Ja

n-1

2

10

-Ma

r-1

2

22

-Se

p-1

2

03

-No

v-1

2

09

-Fe

b-1

3

27

-Ma

r-2

0

Cash Reserve Ratio (CRR) (%)

5.5

6.0

6.5

7.0

7.5

8.0

8.5

Ap

r-1

8

Jun

-18

Au

g-1

8

Oct

-18

De

c-1

8

Fe

b-1

9

Ap

r-1

9

Jun

-19

Au

g-1

9

Oct

-19

De

c-1

9

Fe

b-2

0

Ap

r-2

0

India's Government Bond Yield (%)

10 Years

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Bulk Deal - NSE

Bulk Deal - BSE

Corporate Actions

Date Security Name Client Name Buy/Sell Traded Qty. Price

26-Jun-20 GPPL APM TERMINALS MAURITIUS LIMITED B 4,835,000 90.0

26-Jun-20 TFCILTD BEACON TRUSTEESHIP LIMITED S 418,197 35.5

26-Jun-20 DHANVARSHA KLEIO TRADECON LLP . S 134,873 106.0

26-Jun-20 RIBATEX KABIR SHRAN DAGAR B 79,726 58.5

26-Jun-20 KPIGLOBAL KAMAL KUMAR KABRA B 123,200 26.0

Date Security Name Client Name Buy/Sell Traded Qty. Price

26-Jun-20 Varun Beverages Limited RAVI KANT JAIPURIA AND SONS (HUF) SELL 1500000 685.0

26-Jun-20 NCC LimitedTOWER RESEARCH CAPITAL MARKETS INDIA PRIVATE LIMITED

SELL 3351909 31.8

26-Jun-20 ANDHRA PAPER LIMITED LIMITED BRIGHT STAR INVESTMENTS PRIVATE BUY 500000 206.2

26-Jun-20 Wheels India Ltd TITAN EUROPE LIMITED SELL 176253 431.2

26-Jun-20 Tourism Finance Corp BEACON TRUSTEESHIP LIMITED SELL 1483305 35.5

Scrip Code Scrip Name Ex-Date Purpose Record Date

500870 CASTROLIND 26-Jun-20 Interim Dividend - Rs. - 3.0000 29-Jun-20

524816 NATCOPHARM 26-Jun-20 Interim Dividend - Rs. - 1.0000 29-Jun-20

540767 NAM-INDIA 29-Jun-20 Final Dividend - Rs. - 2.0000 30-Jun-20

500674 SANOFI 29-Jun-20 Final Dividend - Rs. - 106.0000 -

500674 SANOFI 29-Jun-20 Special Dividend - Rs. - 243.0000 -

535755 ABFRL 30-Jun-20 Right Issue of Equity Shares 01-Jul-20

532129 HEXAWARE 30-Jun-20 Interim Dividend - Rs. - 3.0000 01-Jul-20

540222 LAURUSLABS 01-Jul-20 Final Dividend - Rs. - 1.0000 -

501301 TATAINVEST 01-Jul-20 Dividend - Rs. - 18.0000 -

507525 AMRITCORP 02-Jul-20 Buy Back of Shares 03-Jul-20

500038 BALRAMCHIN 02-Jul-20 Buy Back of Shares 03-Jul-20

500104 HINDPETRO 02-Jul-20 Final Dividend - Rs. - 9.7500 -

535648 JUSTDIAL 02-Jul-20 Buy Back of Shares 03-Jul-20

541161 KARDA 02-Jul-20 Stock Split From Rs.10/- to Rs.2/- 03-Jul-20

526299 MPHASIS 02-Jul-20 Final Dividend - Rs. - 35.0000 -

500325 RELIANCE 02-Jul-20 Dividend - Rs. - 6.5000 03-Jul-20

590071 SUNDARMFIN 02-Jul-20 Final Dividend - Rs. - 3.0000 -

500407 SWARAJENG 02-Jul-20 Dividend - Rs. - 25.0000 -

500407 SWARAJENG 02-Jul-20 Special Dividend - Rs. - 15.0000 -

540108 TAHL 02-Jul-20 Bonus issue 1:4 03-Jul-20

500875 ITC 06-Jul-20 Dividend - Rs. - 10.1500 -

500228 JSWSTEEL 06-Jul-20 Final Dividend - Rs. - 2.0000 -

1008, Raheja Centre, 214, Nariman Point, Mumbai-400 021, Ph- 022 – 6611 1700, Extn. - 704 www.ashikagroup.com

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Global Economic Calendar

Date Curr. Event Actual Forecast Previous

29-Jun-20 JPY Retail Sales (YoY) (May) -11.60% -13.90%

29-Jun-20 GBP BoE Consumer Credit (May) -2.500B -7.399B

29-Jun-20 GBP Mortgage Approvals (May) 25.00K 15.85K

29-Jun-20 GBP Mortgage Lending (May) -1.00B 0.29B

29-Jun-20 EUR Business and Consumer Survey (Jun) 80 67.5

29-Jun-20 USD Pending Home Sales (MoM) (May) 19.70% -21.80%

30-Jun-20 GBP GfK Consumer Confidence (Jun) -34 -30

30-Jun-20 JPY Unemployment Rate (May) 2.80% 2.60%

30-Jun-20 JPY Industrial Production (MoM) (May) -5.60% -9.80%

30-Jun-20 GBP Current Account (Q1) -15.0B -5.6B

30-Jun-20 GBP GDP (YoY) (Q1) -1.60% -1.60%

30-Jun-20 EUR CPI (YoY) (Jun) 0.10% 0.10%

30-Jun-20 USD S&P/CS HPI Composite - 20 s.a. (MoM) (Apr) 0.40% 0.50%

30-Jun-20 JPY Housing Starts (YoY) (May) -15.90% -12.90%

1-Jul-20 JPY Manufacturing PMI (Jun) 37.8 38.4

1-Jul-20 CNY Caixin Manufacturing PMI (Jun) 50.5 50.7

1-Jul-20 GBP Nationwide HPI (YoY) (Jun) 0.90% 1.80%

1-Jul-20 EUR Manufacturing PMI (Jun) 46.9 46.9

1-Jul-20 GBP Manufacturing PMI (Jun) 50.1 50.1

1-Jul-20 USD ADP Nonfarm Employment Change (Jun) 3,000K -2,760K

1-Jul-20 USD ISM Manufacturing PMI (Jun) 49 43.1

2-Jul-20 EUR PPI (YoY) (May) -4.80% -4.50%

2-Jul-20 EUR Unemployment Rate (May) 7.70% 7.30%

2-Jul-20 USD Initial Jobless Claims 1,480K

2-Jul-20 USD Nonfarm Payrolls (Jun) 3,074K 2,509K

2-Jul-20 USD Trade Balance (May) -52.40B -49.40B

2-Jul-20 USD Unemployment Rate (Jun) 12.30% 13.30%

2-Jul-20 USD Factory Orders (MoM) (May) 8.30% -13.00%

3-Jul-20 JPY Services PMI (Jun) 42.3 26.5

3-Jul-20 CNY Caixin Services PMI (Jun) 55

3-Jul-20 EUR Services PMI (Jun) 47.3 47.3

3-Jul-20 GBP Services PMI (Jun) 47 47

Date Curr. Event Actual Forecast Previous

30-Jun-20 INR Federal Fiscal Deficit (May) 2,795.12B

30-Jun-20 INR Current Account (USD) -1.40B

30-Jun-20 INR Infrastructure Output (YoY) (May) -38.10%

1-Jul-20 INR Nikkei Markit Manufacturing PMI (Jun) 30.8

3-Jul-20 INR Nikkei Services PMI (Jun) 12.6

1008, Raheja Centre, 214, Nariman Point, Mumbai-400 021, Ph- 022 – 6611 1700, Extn. - 704 www.ashikagroup.com

Indian Economic Calendar

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