Stocks To Watch: Ashok Leyland, Axis Bank, Bharti Infratel, Hathway Cable, Mindtree, Tata Motors, L&T, M&M

Asian stocks slipped Friday as investors weighed signs of progress in the fight against the coronavirus against data showing the severity of the impact on economies. Oil climbed back above $17 a barrel. Japanese shares dipped along with those in Korea, while Australian equities fluctuated.

Here are the stocks to watch in trade today:

• Bharti Infratel: Board took note of the status of Scheme of arrangement between Indus and the company and have further extended the Long Stop Date till June 24. Management stated that there is no significant impact of Covid-19 pandemic on the financial position and performance.
• Tata Motors: Jaguar Land Rover plans to reopen to gradually resume output from May 18. The company plans to re-open Solihull, Nitra, Graz and Wolverhampton units. (Bloomberg News)
• Axis Bank to consider raising fund via debt on April 28.
• L&T allotted NCDs worth Rs 3,800 crore.
• Mahindra and Mahindra: Board approved issuing of NCDs worth Rs 10,000 crore.
• Sunteck Realty: CARE Ratings has revised the outlook for long-term banking facilities worth Rs 1,049 crore from stable to negative reflecting expected moderation in the credit risk profile of entities involved in the real estate development owing to the ongoing lockdown.
• Ashok Leyland increased its stake by 3.36 percent to 68.81 percent in its arm Hinduja Leyland Finance.
• Goa Carbon has started operations at its Paradeep unit at Odisha.
• Monte Carlo Fashions has resumed partial operations at its Ludhiana plant.
• Indian Hotels approved allotment of NCDs worth Rs 150 crore by private placement to Axis Bank.
• Schaeffler India has partially resumed operations and restarted Savli plant. Plant at Maneja, Talegaon and Hosur to observe extended closure till May 3.
• HIL to consider starting manufacturing operations in four states, after receiving approval from authorities.
• Reliance Communications: Committee of Creditors to meet on April 24

Bulk Deals

• Equitas Holdings: Julius Baer Multistock-Emerging Equity Fund acquired 31.64 lakh shares (0.93 percent) at Rs 53.68 per share.
• Reliance Naval & Engineering: Yes Bank sold 90.5 lakh shares (1.23 percent) at Rs 1.25 per share
• Sasken Technologies: Vanderbilt University acquired 2 lakh shares (1.33 percent) at Rs 444 per share and Atyant Capital India Funds sold 2 lakh shares (1.33 percent) at Rs 444 per share.

Pledged Share Details

• Emami promoter Priti Surekha revoked pledge of 45 lakh shares on April 20
• Parag Milk Foods promoters revoked pledge of 75 lakh shares on April 22

(As Reported On April 23)

Who’s Meeting Whom

• Cummins India to meet Capital Group on April 24
• Manappuram Finance to meet Hosking Partners on April 24
• CRISIL to meet Pari Washington and Motilal Oswal AMC from April 28-30

Trading Tweaks

• Price Band Revised To 5 Percent From 10 Percent: GTPL Hathway, Morepen Laboratories
• Price Band Revised To 10 Percent From 20 Percent: Balaji Telefilms, Career Point
• Move Into ASM Framework: Bharat Wire Ropes, Mohota Industries
• Move Into Short-Term ASM Framework: TV18 Broadcast, Kalpataru Power Transmission, Alkyl Amines Chemicals
• Move Out Of Short-Term ASM Framework: Hatsun Agro Product, Wockhardt, Everest Industries, Alembic Pharmaceuticals, Avanti Feeds, Eros International Media, Summit Securities

Active Stock Futures

Index Futures

• Nifty April futures closed at 9297, premium of 17 points versus 13 points premium
• Nifty April futures open interest down 3 percent, sheds 3 lakh shares in open interest
• Nifty Bank April futures closed at 19,677, discount of 88 points versus 30 points
• Nifty Bank April futures open interest down 0.7 percent, adds 8,700 shares in open interest

Options

• Nifty PCR at 1.51 versus 1.37 (across all series)

Nifty Monthly Expiry: April 30

• Max open interest on call side at 10000 (18.9 lakh shares)
• Max open interest on put side at 9000 (34 lakh shares)
• Open interest change in 9000 Put (+8.3 lakh shares), 9300 Put (+5 lakh shares)

Nifty Earnings

Bharti Infratel Q4 (Consolidated, QoQ)

• Revenue down 1.3 percent at Rs 3,624.4 crore
• Net Profit down 18.7 percent at Rs 649.5 crore
• EBITDA down 9.5 percent at Rs 1,699 crore
• Margins at 46.9 percent versus 51.1 percent
• Tenancy ratio declined to 1.84 times vs 1.85 times
• Biggest fall in EBITDA since listing due to higher other expenses
• Biggest fall in net profit in last 13 quarters due to higher other expenses

Other Earnings

Hathway Cable & Datacom Q4 (Consolidated, YoY)

• Revenue up 19.6 percent at Rs 455.7 crore
• Net profit up 7.3 times at Rs 48.8 crore
• EBITDA up 43.8 percent at Rs 120.4 crore
• Margins at 26.4 percent versus 22 percent
• Other Income up 43 percent at Rs 58.9 crore
• Numbers impacted by TRAI order

Mahindra CIE Automotive Q1CY20 (Consolidated, YoY)

• Revenue down 23.5 percent at Rs 1,663 crore
• Net profit down 86.4 percent at Rs 21 crore
• EBITDA down 35.5 percent at Rs 182 crore
• Margins at 10.9 percent versus 13 percent

Earnings Today

• Mahindra EPC Irrigation
• MindTree
• Xtglobal Infotech