Stocks To Watch: ABB, Adani Transmission, Asian Paints, Future Consumer, HPCL, ITC, JSW Steel, Lupin, Wipro, Yes Bank, Zee Entertainment

Stocks in Asia followed U.S. equities lower after an unexpected rise in American jobless claims rekindled concern a recovery in the world’s largest economy has stalled. The dollar extended this week’s slide. Shares in Australia and South Korea opened lower, while futures in Hong Kong pointed down.

Here are the stocks to watch in trade today:

• Wipro has signed a definitive agreement to acquire 4C, one of the largest Salesforce partners in U.K., Europe and the Middle East for 68 million euros. The transaction is expected to be completed during the quarter ending September 30. Wipro has established Salesforce business in the Americas, Japan and Australia which was reinforced with the Appirio acquisition in 2016.
• HPCL on Covid-19 impact: Sales of petroleum products in May was about 77% compared to last year and for June it was about 91% as compared to June, 2019. Sharp increase in demand for LPG was witnessed during the lockdown period. The Company increased the production of LPG by optimizing its operations and supplied on an average 12.5 lacs cylinders per day to the customers during April-June 2020. Achieved an overall capacity utilization of almost 100% at Mumbai and Visakh refineries for the period April-June 2021.
• Yes Bank: Board approved allotment of 1,250.4 crore shares of face value of Rs 2 per share, aggregating to Rs 15,000 crore. Pursuant to the offer the paid up-equity capital increased from Rs 2510 crore to Rs 5,011 crore.
• Lupin has received tentative approval for its Empagliflozin and Linagliptin Tablet, from U.S. FDA to market a generic version of Glyxambi Tablets, of Boehringer Ingelheim Pharmaceuticals. Tablets are indicated as an adjunct to diet and exercise to improve glycemic control in adults with type 2 diabetes mellitus.
• Adani Transmission Q1FY21 Update: Transmission lines are operating at greater than 99.5% availabilities and there is no adverse impact on billing. The continued lock down has resulted in migration of resources affecting project execution work due to non-availability of workforce and disruption of allied services. This will result in slight delay in Scheduled Commercial Operation Date (SCOD) of projects. Distribution losses at 13.47% versus 7.78%, where the losses increased on provisional average billing. To mitigate the loss due to time and cost overrun, it has already issued required force majeure and change in law notices under the provisions of transmission services agreement.
• Future Consumer promoter Future Capital Investment invoked pledge of 6.19 crore shares from April 30-July22. Promoter Future Capital Investment’s stake falls from 45.32% to 42.09% in the company.
• PNC Infratech received Letters of Acceptance from NHAI for 2 EPC Project’s for an aggregate contract value of Rs 1,547.80 crore

Other Earnings

ABB Q2CY2020 (Standalone,YoY)

• Revenue down 43% at Rs 973.4 crore (Est Rs 894 crore)
• Net profit down 76.6% at Rs 16.3 crore (Est Net loss at Rs 36 crore)
• Ebidta down 89.6% at Rs 11.1 crore (Est Ebidta loss at Rs 38 crore)
• Margins at 1.14% versus 6.24%
• Orders at Rs 1,200 crore versus Rs 1,989 crore

AU Small Finance Bank Q1 (Standalone,YoY)

• Net Interest Income up 30.4% at Rs 515.8 crore
• Net profit up 5.5% at Rs 200.8 crore
• Provisions at Rs 181.3 crore versus Rs 31.5 crore
• GNPA at 1.69% versus 1.68% QoQ
• NNPA at 0.62% versus 0.81% QoQ

Zensar Tech Q1 (Consolidated, QoQ)

• $ Revenue down 7% at $130.8 million
• Revenue down 2.6% at Rs 991.2 crore (Est Rs 975 crore)
• Net profit up 5.5 % at Rs 73.3 crore (Est Rs 52 crore)
• Ebit up 0.6% at Rs 83.4 crore (Est Rs 76 crore)
• Margins at 8.4% vs 8.14% (Est 7.8%)
• Margins improve due to lower other expenses

Repco Home Finance Q4FY20 (Consolidated,YoY)

• Net Interest Income up 20.7% at Rs 131.6 crore
• Net profit up 2.76% at Rs 55.9 crore
• Loan book up 7% at Rs 11,826.1 crore
• Provisions for expected credit losses at Rs 213.9 crore
• Covid-19 provision at Rs 39.3 crore
• Not sought moratorium on its borrowings from banks and other financial institutions
• Collected June month’s EMIs from 68% of its customers.

Earnings Today

• Zee Entertainment
• JSW Steel
• ITC
• Asian Paints
• Ambuja Cements
• Atul
• CCL Products
• Chennai Petroleum Corporation
• Confidence Petroleum
• Coromandel International
• Crompton Greaves Consumer Electricals
• GHCL
• Schaeffler India
• TCI Express
• Texmo Pipes and Products
• Wendt
• Welspun India

Pledged Share Details

• Adani Transmission promoter SB Adani Family Trust created pledge of 2.46 crore shares on July 20
• Adani Ports & SEZ promoter SB Adani Family Trust created pledge of 7.96 crore shares on July 20
• Adani Green Energy promoter SB Adani Family Trust created pledge of 1.15 crore shares from July 20-23

(As Reported On July 23)

Bulk Deals

• Indiamart Intermesh: Norges Bank acquired 1.49 lakh shares (0.51%) at Rs 2,350 per share and Amadeus Group sold 3.59 lakh shares (1.24%) at Rs 2,368.03 per share
• Rossari Biotech: Goldman Sachs acquired 4.81 lakh shares at Rs 692.17 per share

Who’s Meeting Whom

• Tata Steel to meet Motilal Oswal Securities on July 24

Trading Tweaks

• AGM Date: Wockhardt, Strides Pharma,Cyient, ABB, Biocon, Coromandel International, CCL Products, CG Consumer Electricals, Nath Biogen, Persistent Systems, Grindwell Norton, TCI Express, Religare Enterprises, Wendt
• Record Date For Rights Issue: Gateway Distriparks (Rights issue at 4:27, premium at Rs 62 per share)
• Price Band Revised From 10% To 5%: Heritage Foods, Tribhovandas Bhimji Zaveri
• Price Band Revised From 20% To 10%: Indo Count Industries, Yes Bank
• Move Out Of Short-Term ASM Framework: Indo Amines
• Move Into Short-Term ASM Framework: Matrimony.Com

Insider Trades

• Apollo Tyres promoter Sunrays Properties & Investments acquired 9.44 crore shares on July 22
• Sagar Cements promoter RV Consulting acquired 4.5 lakh shares on July 20

(As Reported On July 23)

F&O Cues

• Nifty July futures closed at 11,207, discount 8 points versus discount of 22 points
• Nifty July futures open interest down 0.7%, sheds 69,000 shares in open interest
• Nifty Bank July futures closed at 23,095, premium 11 points versus discount 78 points
• Nifty Bank July futures open interest down 5%, sheds 84,000 shares in open interest

Nifty Monthly Expiry: July 30

• Max open interest on call side at 11,500 strike (33 lakh shares)
• Max open interest on put side at 11,000 strike (38 lakh shares)
• Active options: 11,100 Put (+8 lakh shares), 11,400 Call (+5.8 lakh shares)

Ban List

• In Ban: Adani Ent, BHEL, Escorts, Glenmark, GMR Infra, Idea, JSPL, L&THF, M&MFin, Nalco, Sail, Sun TV