Stocks To Watch: Axis Bank, Biocon, Hexaware Technologies, Reliance Industries

Stocks in Asia edged higher with U.S. equity futures as earnings continued to roll in. The dollar maintained this week’s declines. Shares in Sydney and Seoul opened with modest gains.

Here are the stocks to watch in trade today:

• Axis Bank’s board approved raising Rs 35,000 crore via bond, debt.
• Reliance Industries' long-term rating was affirmed by S&P Global Ratings at BBB+. Outlook remains stable. The ratings agency that the company's leverage is poised to improve and stabilize over the next 12-24 months owing to disciplined spending, asset monetisation, and resilient earnings
• Biocon and Mylan have launched Fulphila in Canada. Fulphila is approved by Health Canada to decrease the incidence of infection, as manifested by febrile neutropenia.
• NLC India has commenced production of coal in Odisha, four years after allocation. Coal will be used to meet the requirements of existing and future coal-fired power plants.
• Gabriel India has resumed operations for its plants in Haryana, Himachal Pradesh and Maharashtra.
• CG Consumer Electricals has partially resumed operations at its Baddi plant.
• L&T allotted NCDs worth Rs 2,500 crore.
• Ujjivan Small Finance Bank: RBI has approved the appointment of Biswamohan Mahapatra as part-time Chairman for a period of 3 years.
• PPAV Automotive has resumed operations at its Rajasthan and Gujarat facilities.
• PNB Housing Finance: Sanjaya has stepped down from the post of MD and CEO. Board has initiated the process to find his successor. Neeraj Vyas will be the interim MD and CEO.
• Federal-Mogul Goetze has partially started operations at its Rajasthan Plant.

Nifty Earnings Announcement

Axis Bank Q4 (Standalone, YoY)

• Net Interest Income up 19.3 percent at Rs 6,808 crore (Estimate: Rs 6,408 crore)
• Net loss at Rs 1,387.8 crore vs Net Profit at Rs 1,505.1 crore (Estimate: Rs 1,478 crore)
• Provisions at Rs 7,730 crore versus Rs 2,711.4 crore
• GNPA at 4.86 percent versus 5 percent (QoQ)
• NNPA at 1.56 percent versus 2.09 percent (QoQ)
• Additional provision of Rs 3,000 crore made for Covid-19

Earnings Today

• Hexaware Technologies

Who’s Meeting Whom

• Manappuram Finance to meet Elara Capital on April 29

Pledged Share Details

• GMR Infra promoter GMR Enterprises created pledge of 2.06 crore shares on April 27
• Emami promoter Diwakar Viniyog created pledge of 69 lakh shares on April 24
• Adani Ports and SEZ promoter SB Adani Family Trust revoked pledge of 1.53 crore shares on April 27
• Adani Transmission promoter SB Adani Family Trust revoked pledge of 69 lakh shares on April 27

(As Reported On April 28)

Trading Tweaks

• Price Band Revised To 5 Percent From 10 Percent: J & K Bank
• Price Band Revised To 10 Percent From 20 Percent: Panacea Biotec
• Move Into ASM Framework: Graphite India, Lakshmi Vilas Bank, Shyam Century Ferrous, SORIL Infra Resources, Jaypee Infratech
• Move Into Short-Term ASM Framework: Infibeam Avenues, Panacea Biotec, Alembic Pharmaceuticals, Lumax Auto Technologies
• Move Out Of Short-Term ASM Framework: Lumax Auto Technologies, V.S.T Tillers Tractors, eClerx Services, Wheels India, Kolte - Patil Developers, Shriram City Union Finance

Active Stock Futures

F&O Cues

• Nifty April futures closed at 9,398, premium of 18 points versus 7 points premium
• Nifty April futures open interest down 13 percent, sheds 9.5 lakh shares in open interest
• Nifty futures Rollovers at 43 percent
• Nifty Bank April futures closed at 20,676, premium of 5 points versus 26 points premium
• Nifty Bank April futures open interest down 20 percent, sheds 2.5 lakh shares in open interest
• Nifty Bank futures Rollovers at 39 percent
• Nifty Put Call Ratio at 1.46 versus 1.36 across all series

Nifty Monthly Expiry: April 30

• Max open interest on call side at 9,500 strike (26.6 lakh shares)
• Max open interest on put side at 9,000 strike (33.3 lakh shares)
• Open interest change in 9,300 Put (+10.3 lakh shares), 9,400 Call (+5.2 lakh shares)