Stocks To Watch: Bank Of India, Jubilant Foods, Escorts, Oil India, Rail Vikas Nigam, Tata Steel, Voltas
Indian equities fell the most in a month as rising coronavirus cases continued to take a toll on investor sentiment. The S&P BSE Sensex ended 1.7% lower at 49,180 while the NSE Nifty 50 index fell 1.8% to end at 14,549.
Here are the stocks to watch in trade today:
- Voltas: Has executed the Business Transfer Agreement with its wholly-owned subsidiary, Universal MEP Projects & Engineering Services for transfer of its domestic projects business. The transaction is expected to be completed by end of September 2021.
- Tata Steel: Board has approved the conversion of 7.02 crore partly paid-up equity shares of face value Rs 10 each into fully paid-up equity shares of face value Rs 10 each, against which the first and final call money of Rs 461 per share has been received.
- Jubilant Foodworks: Has entered into an exclusive Master Franchise and Development Agreement with PLK APAC Pte., a subsidiary of Restaurant Brands International Inc., to operate and sub-license Popeyes Restaurants in India, Bangladesh, Nepal and Bhutan.
- Escorts: Subsidiary Escorts Agri Machinery said it will increase tractor prices with effect from next month. There has been a steady rise in commodity prices necessitating a price hike to offset the impact of the inflation, Escorts said in a regulatory filing. The increase in prices would vary across models and variants, it added.
- Rail Vikas Nigam: Government to exercise the greenshoe option to the extent of 1.10 crore equity shares (representing 0.53% of the total issued and paid-up equity share capital of the company) in addition to the base offer size of 20.85 crore shares. The OFS opens for retail investors today.
- Oil India: Has announced that Mozambique Rovuma Offshore Area-l Project has satisfied all the conditions precedent for the first debt drawdown of the project financing. The first drawdown from project financing is expected in April 2021. Area-l project is Mozambique's first onshore LNG development, initially consisting of two LNG trains with total nameplate capacity of 13.12 million tons per annum.
- Minda Industries: Board of Tokai Rika Minda India, a joint venture company of UNO Minda Group and Tokai Rika Japan, has allotted 4.28 crore equity shares of Rs 10 each at par on Right Issue basis to the company. Subsequently, Minda Industries stake in TRMN has increased from 12.86% to 30%.
- Wabco (India): Promoter ZF International U.K. to sell 17.17 lakh equity shares of face value of Rs 5 each, representing 9.05% of total the equity share capital, through an Offer for Sale. The promoter will also have a greenshoe option to sell an additional 17.17 lakh equity shares or 9.05% of total the equity. The floor price of Rs 5,450 per equity share is at a discount of 10.67% to Wednesday's closing price. The OFS opens for non-Retail Investors today and for retail investors tomorrow.
- Bank of India: To issue Basel III Compliant Additional Tier I Bonds of Rs 250 crore (base issue size) with a greenshoe option of Rs 500 crore on March 26.
- Pokarna: Pokarna Engineered Stone, a wholly owned subsidiary of the company, has started commercial production at its Unit 2 (quartz surface manufacturing facility) located in Telangana, from March 24.
- TVS Motor Company: Board has declared a 2nd interim dividend for FY21 of Rs 1.40 per share. The record date for the same is April 2.
- Kirloskar Ferrous Industries: The company has entered into the Mining Lease Deed with the Government of Karnataka to conduct mining operations for a period of 50 years at Bharath Mines & Minerals. The operations of the mine commenced on March 24.
- Vakrangee: Has partnered with TransUnion CIBIL, one of the India’s largest credit information company. Once the service is made available Consumers and businesses will be able to place a request for CIBIL Score and Report and/or CIBIL Rank and Company Credit Report through a secure service portal through Nextgen Vakrangee Kendra.
- NLC India: Issued and allotted 10,000 Commercial Papers of face value of Rs 5 lakh each aggregating to Rs 500 crore on March 24.
Pledge Share Details
- Ajanta Pharma: Promoter Aayush Agrawal created a pledge of 6.70 lakh shares on March 22.
- Eveready Industries India: Promoter Williamson Magor & Co invoked pledge of 1.07 lakh shares on March 22.
- JSW Steel: Promoter Siddeshwari Tradex revoked pledge of 6 lakh shares on March 22.
- JSW Holdings: Promoter Siddeshwari Tradex created a pledge of 20,000 shares on March 22.
- Mangalore Chemicals & Fertilizers: Promoter Zuari Agro Chemicals created a pledge of 97.50 lakh shares between March 19-22.
As reported on March 24
- Infibeam Avenues: L7 Hitech sold 99.62 lakh shares (1.50%) at Rs 47.25 per share.
- Karda Constructions: Lotus Global Investments bought 3.25 lakh shares (0.53%) at Rs 115 per share.
- Nava Bharat Ventures: The company bought 14.19 lakh shares (0.81%) at Rs 69.99 per share.
- Zensar Technologies: The Vanguard Group bought 17.77 lakh shares (0.79%) at Rs 292 per share. Amansa Holdings sold 16.78 lakh shares (0.74%) at Rs 292 per share.
Who's Meeting Whom
- Mahindra Lifespace Developers: To meet UBS Securities India on March 26.
- United Spirits: To meet Edelweiss Securities and SBI Life on March 25.
- Ex-Date EGM: Ravindra Energy
- Ex-Date Interim Dividend: BPCL, The United Nilgiri Tea Estates Company, Housing & Urban Development Corporation
- Record Date Interim Dividend: Somany Ceramics, Gothi Plascon (India)
- Move Into Short-Term ASM Framework: Dolat Investments, Adani Power, Kirloskar Brothers
- Move Out Of Short-Term ASM Framework: Sundaram Finance, Greenply Industries
- Alembic Pharmaceuticals: Promoters (Uday Education Society and Bhailal Amin General Hospital) sold 4.84 lakh shares on March 23. Promoter Alembic bought 2.84 lakh shares on March 23.
- Godfrey Phillips India: Promoter KK Modi Investment And Financial Services bought 2,841 shares on March 24.
- Godrej Industries: Promoter Arel Enterprise bought 81,361 shares between March 18-19.
- Godrej Agrovet: Promoter Godrej Industries bought 57,400 shares between March 18-19.
- HG Infra Engineering: Promoter Harendra Singh Family Trust bought 19,912 shares on March 19.
- NCC: Promoter Ragna Raju sold 1.72 lakh shares on March 22. Promoter AVSR Holdings bought 1.72 lakh shares on March 22.
- NRB Bearings: Promoters (Harshbeena Zaveri And Aziz Zaveri) bought 5,210 shares on March 23.
- Oriental Carbon & Chemicals: Promoter Haldia Investment bought 2,000 shares on March 23.
- Nirlon: Promoter Shital Trading & Interiors sold 10,000 shares on March 23.
- Pidilite Industries: Promoter Anuja Shah sold 50,000 shares between March 22-23.
- Religare Enterprises: Promoter Nimrita Singh bought 25,000 shares between March 15-19.
- Vardhman Textiles: Promoter Devakar Investment And Trading Company bought 13,519 shares between March 22-24.
- Vardhman Special Steels: Promoter Sachit Jain bought 2,000 shares between March 23-24.
As reported on March 25