All You Need To Know Going Into Trade On April 3

Stocks To Watch

• RBL Bank Q4 Update: Net Interest Margin at all-time high. Net Interest Income grew higher than advances and balance sheet growth. Liquidity Coverage Ratio for March at 127 percent. Reduction in bulk deposits from government entities / corporation. Asset quality position in the legacy book remains consistent with the guidance given in Q3FY20.
• HUL-GSK Health Merger Concall: This is an all-equity merger. GSK Plc to hold 5.7 percent in HUL while Unilever's stake to fall to 61.9 percent from 67.2 percent. April 17 will be the record date for issuance of fresh shares. HUL to not pay any brand royalty.
• Aurobindo Pharma: The deal to acquire Sandoz’s U.S. generic oral solids and dermatology business has been mutually terminated. The decision was taken as approval from the U.S. Federal Trade Commission for the transaction was not obtained within the anticipated timeline.
• Reliance Industries: To raise Rs 25,000 crore via NCDs.
• JSW Steel: Promoters pledge additional 2.3 percent stake
• OMCs: Given the current crisis, the companies will not pass on the cost incurred to produce BS-VI fuel. The companies were earlier supposed to hike prices by Rs 0.5-1 per litre. OMCs have incurred a capex of Rs 35,000 crore.
• SBI: Managing Director CS Shetty said that he has given an assessment of Covid-19 emergency credit lines to operational level executives. In working capital facilities, the deferred dues will be collected immediately after the three month period. The one-time settlement scheme and Rin Samadhan scheme were ending by March 31 has been extended these schemes by another 3 months.
• ICICI Bank: Reduces interest rate on savings bank accounts and term deposits less than Rs 2 crore. Interest rates on savings accounts below Rs 50 lakh cut by 25 basis points to 3.25 percent. Interest rate on accounts above Rs 50 lakh too cut by 25 basis points to 3.75 percent. The changes will be effective from April 9.
• KIOCL: The company’s production of pellets increased by 6 percent to 2.375 million tons and dispatches increased by 7 percent to 2.356 million tons, for FY20.
• ONGC: Moody's Investors Service has downgraded the company’s local and foreign currency issuer ratings to Baa2 from Baa1. The outlook on all ratings remains negative.
• Adani Green Energy: Competition Commision of India approves formation of JV with Total S.A. in the solar power generation business in India.
• Tata Power: Has completed a sale of its entire 50 percent stake in its South African joint venture for Rs 659.7 crore or ZAR 1,550 million.
• CreditAccess Grameen: Increased its stake in Madura Micro Finance by 0.42 percent to 76.06 percent.
• Shilpa Medicare: Finished dosage formulation facility in Telangana got EU GMP certification by the Austrian authority. The inspection was held between January 13-17. The company's affiliates have registered their products (Oral Solid & Injections) with European authorities for commercial distribution.
• Welspun Enterprises: Names Ved Mani Tiwary as deputy CEO.
• CSB Bank: Reduces repo linked lending rate from 5.15 percent to 4.4 percent.
• Jammu And Kashmir Bank: RBI extended the term of RK Chhibber as Chairman and Managing Director for a period of three months with effect from April 10, or till the appointment of a successor, whichever is earlier.
• Ashiana Housing: ICICI Prudential MF increases stake by 0.29 percent to 7.27 percent on March 27.
• IIFL Finance: CDC Group acquires 15.46 percent stake in the company post the corporate arrangement scheme for IIFL group companies. It brought back its own secured notes listed at SGX-ST, amounting to $15 million through open market and further initiated cancellation of notes.
• Indiabulls Ventures: To acquire 58 percent stake in Transerv for Rs 76.06 crore. The target company is in the business of issuing pre-paid instruments. The remaining 42 percent stake in the afore-mentioned company is held by Indiabulls Consumer Finance.
• Gateway Distriparks: The proposed sale of the company’s entire holding in Snowman Logistics to Adani logistics was not completed by March 31. Both parties are in discussion for the completion of the transaction.
• Cipla: Announced the successful completion of Phase-3 clinical study for a generic version of GSK's Advair Diskus®. According to IQVIA (IMS Health), Advair Diskus® and its generic equivalents had U.S. sales of approximately $2.9 billion for the 12 months through February 2020.
• Reliance Infra: Has defaulted on payment of interest obligation amounting to Rs 29.89 crore. The company said its total financial indebtedness stood at Rs 6,190 crore as on March 1, 2020.
• Cadila Healthcare: Received the final approval from the U.S. FDA to market Lamotrigine Extended-Release Tablets. This medication is indicated for the treatment of certain types of seizures and will be manufactured at the group’s manufacturing facility at SEZ, Ahmedabad.
• Jubilant FoodWorks: Partners with ITC Foods to deliver everyday grocery essentials offered by ITC Foods.
• Future Retail: Fitch cuts long-term Issuer Default rating to B- and placed it under Rating Watch Negative.
• Cyient: Has been providing the Telangana State Police with drone-based surveillance technology to implement the Covid-19 lockdown.
• Pharma Companies: U.S. FDA has issued letters to all manufacturers of Ranitidine across dosage forms requesting withdrawal of all prescription and over-the-counter ranitidine drugs from the U.S. market.
• Honda Siel Products: The board approved the resignation of Siddharth Shriram as Chairperson and Independent Director of the company. The company has also terminated a joint venture agreement entered between Japan’s Honda Motor and Usha International. Takahiro Ueda has been appointed as Chairperson of the company.