Stocks To Watch: Axis Bank, Bajaj Finance, Britannia, Maruti Suzuki, Tech Mahindra

Indian equity benchmarks climbed, along with their global peers, as investors look for clues on the economic recovery in a big earnings week and a Federal Reserve meeting. The S&P BSE Sensex added little over 1% to 48,386.51, its biggest advance in nearly two weeks. The NSE Nifty 50 Index also gained a similar magnitude.

Here are the stocks to watch in trade today:

  • Bank of Maharashtra: Board of Directors of bank will consider raising capital by issuing Basel III bonds either through a follow-on public offer, rights issue, qualified institutional placement, preferential issue or a combination of these. The board will meet on April 29 to consider the proposal.
  • Tata Motors: Company says lockdown in various parts of the country is expected to hit vehicle demand temporarily. The automaker said it will ensure optimal inventory levels by calibrating supplies with retail demand and also be prepared for a rebound in case of a return to normalcy. Company will also review and plan for the critical raw materials to cater to this volatile demand outlook.
  • Sagar Cements: Board of Directors have approved a proposal to merge a wholly owned subsidiary--Sagar Cements (R) Ltd.--with itself. SCRL has cement manufacturing and power generation facilities in Andhra Pradesh. The merger will not involve any fresh issuance of shares. The company said the merger will help in enahncing scale of operations, reduce legal and regulatory compliance and lead to lower costs.
  • Tech Mahindra: Board has approved a propsal for the acquisition of 100% stake in Eventus Solutions Group LLC through its wholly-owned U.S. subsidiary for up to $44 million including earnouts. The transaction is expected to close by JUne 15, 2021.
  • SAIL: The Bhilai steel mill will undertake a short shutdown to boost liquid oxygen supply in the country. Company said the closure will boost oxygen supply by 15 tonne and will not affect dispatches. Steel ministry has also issued similar directives to other government-owned mills. (Bloomberg)
  • Union Bank of India: Board of the bank will meet on April 29 to consider extension of the validity of its fundraising plan for FY21.
  • Reliance Home Finance: Company has defaulted on interest payments on term loans to Canara Bank and Dena Bank amounting to Rs 0.86 crore. The housing financier had borrowed, for a tenuer of five years, Rs 300 crore from Canara Bank at 10% per annum and Rs 200 crore from Dena Bank at 9.2% per annum. Company said delay in servicing debt is due to prohibition to dispose any assets based on a Delhi High Court order.
  • Shalby: Offer for sale by promoter Shah Family Trust has been subscribed 193% by non-retail investors on the first day of the issue. Promoters plan to sell up to 58.1 lakh equity shares, or 5.38% stake, at a floor price of Rs 111 per share. Issue will continue on April 27.
  • Federal-Mogul Goetze: Offer for sale gets subscribed 395% by non-retail investors on the first day. Promoter IEH FMGI Holdings LLC plans to sell up to 55.4 lakh equity shares, or 9.95% stake, a floor price of Rs 250 per share.
  • Hathway Cable and Datacom: Offer for sale gets subscribed 151% by non-retail investors on the first day. Three promoters--Jio Content Distribution Holdings, Jio Internet Distribution Holdings and Jio Cable and Broadband Holdings--plan to sell up to 20.5 crore shares of the company, representing 11.6% stake, at a floor price of Rs 21.5 apiece.
  • Nifty Earnings: Axis Bank, Maruti Suzuki India, Britannia Industries, Bajaj Finance
  • Non-Nifty Earnings: ABB India, Gateway Distriparks, Hatsun Agro Product, HDFC Asset Management Company, Hindustan Zinc, JTL Infra, Moschip Technologies, Nippon Life India Asset Management, PNB Housing Finance, Sanofi India, Symphony, Syngene International, Tata Investment Corporation, TVS Motor Company, United Breweries, Vesuvius India, VST Industries

Pledge Share Detail

  • Adani Transmission: Promoter Group (Gautam Adani and Rajesh Adani) revoked pledge of 14 lakh shares on April 23.As reported on April 27.

Bulk Deals

  • Jagran Prakashan: The company bought 19.23 lakh shares (0.69%) at Rs 57.84 per share.
  • Paisalo Digital: State Bank of India bought 3.99 lakh shares (0.94%) at Rs 615 per share.
  • Fine Organic Industries: SBI Mutual Fund sold 2.37 lakh shares (0.77%) at Rs 2,545.11 per share and sold another 2.33 lakh shares (0.76%) at Rs 2,545 per share.
  • Maithan Alloys: Bhagwati Syndicate bought 9.50 lakh shares (3.27%) at Rs 724 per share. Promoter Prahlad Agarwalla sold 2.25 lakh shares (0.77%) at Rs 724 per share. Sheela Agarwalla sold 2.27 lakh shares (0.78%) at Rs 724 per share. Shankar Agarwalla sold 2.25 lakh shares (0.77%) at Rs 724 per share. Rita Agarwalla sold 2.73 lakh shares (0.94%) at Rs 724 per share.

Trading Tweaks

  • Ex-Date Interim Dividend: Zuari Global, Easy Trip Planners
  • Ex-Date Bonus Issue: Waa Solar
  • Record Date Rights: Sundaram Finance Holdings
  • Price Band Revised From 10% To 5%: Everest Kanto Cylinder
  • Move Into ASM Framework: Inox Wind
  • Move Into Short-Term ASM Framework: TV18 Broadcast, TTK Healthcare, JSW Ispat Special Products
  • Move Out Of Short-Term ASM Framework: Inox Wind, Subex
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