Stocks To Watch: Bharti Infratel, Britannia, Future Retail, Lupin, MCX, NBCC, Vodafone Idea, Yes Bank

Asian stocks edged higher, tracking gains on Wall Street, as investors took some comfort from earnings reports and signs the coronavirus outbreak is easing. Oil rebounded. Shares saw modest gains in Tokyo, Seoul and Sydney.

Here are the stocks to watch in trade today:

• Yes Bank seeks shareholder approval for raising of an additional amount of Rs 5,000 crore via issuance of equity or other convertible securities, in addition to Rs 10,000 crore approved by shareholders on Feb. 7, by way of rights issue. Bank said that the capital raise will help in maintaining sufficient cushion in excess of the minimum regulatory requirements and a strong CET 1 capital base.
• Vodafone said that it has accelerated a payment of $200 million to Vodafone Idea to provide Vodafone Idea with liquidity to manage its operations. Payment was due in September 2020, under terms of the contingent liability mechanism with Vodafone Idea. Vodafone Group’s potential exposure under this mechanism is limited to Rs 8,400 crore.Total due related to AGR case of Vodafone Idea is Rs 58,254 crore
• KNR Constructions’ SPVs have re-commenced the collection of user fee (toll) on all the NHAl projects.
• Lupin said that Solosec oral granules has received preferred coverage effective immediately on the Express Scripts National Preferred, Flex, and Basic commercial formularies. (Bloomberg News)
• National Company Law Appellate Tribunal has declined to stay implementation of the NCLT order which made modifications in NBCC's bid for Jaypee Infratech. NCLT had approved the bid by NBCC but allowed objections of ICICI Bank and Yamuna Expressway Industrial Development Authority and directed payment to unclaimed Fixed Deposit Holders. The modifications to the plan is challenged by NBCC at the NCLAT. The case will next come up for hearing on May 15.
• MCX has said that it has completed settlement of April 20 crude contract. The exchange stated that April 22 pay-in and payout, including the settlement of April 20 Crude Oil contract, has been completed and a payout of Rs 242.32 crore has been made to clearing members of MCXCLL.
• S&P Global Ratings lowered its preliminary long-term issuer credit rating on Future Retail and the preliminary long-term issue rating on the company's US$500 million senior secured notes to 'CCC-' from 'B-'. The ratings remain on CreditWatch with negative implications. Ratings agency stated that the company faces increasing pressure to meet upcoming debt obligations given its stressed liquidity position, exacerbated by the extended lockdown in India due to Covid-19.
• Star Cement’s plant at Assam has partially become operational.
• Kirloskar Electric’s manufacturing unit at Hubli has resumed operations.
• Orient Paper and Industries said that production of tissue papers and chlorine are continuing. Writing and paper output are forced to be limited, as operations commenced with effect from April 17.
• Kirloskar Oil Engines’ main plant in Maharashtra has become partially operational with effect from April 22.
• HDFC Life Insurance to consider raising funds via NCDs on April 27.
• Diamines and Chemicals’ operations at Gujarat plant has commenced operations.
• Jagran Prakashan: Board approved raising Rs 150 crore via NCDs on a private placement basis.
• Deepak Nitrite has partially commenced operations at Hyderabad plant. All manufacturing facilities have commenced operations now. Company’s arm Deepak Phenolics has commenced commercial production of Isopropyl alcohol with effect from April 21. Isopropyl alcohol is a solvent and majorly used by pharma companies and is also used for manufacturing sanitizers.
• Lumax Auto Technologies has resumed operations partially in its manufacturing activities.
• Welspun Enterprises has commenced limited operations in seven states.
• Welspun Corp has partially resumed operations at its pipe facility in Madhya Pradesh.
• Tanla Soutions: Board approved buyback of 1.9 crore shares (12.49 percent) at Rs 81 per share aggregating to Rs 154 crore. Buyback price is at a premium of 28 percent to closing price as on April 22.
• Sundaram-Clayton to consider issuance of NCDs on April 30.
• TVS Motor Clayton to consider issuance of NCDs on April 28.

Results Today

• Bharti Infratel
• Britannia
• Alembic Pharmaceuticals
• Hathway Cable & Datacom
• Mahindra CIE Automotive
• Network18 Media & Investments
• TV18 Broadcast.

Bulk Deals

• Zee Enterprises: Florida Retirement System acquired 51.09 lakh shares (0.53 percent) at Rs 141.29 per share.
• Endurance Technologies: Smallcap World Fund sold 33.95 lakh shares (2.41 percent) at Rs 566.66 per share

Pledged Share Details

• Sun Pharma promoters released pledge of 2.52 crore shares from April 20-21
• Adani Ports & SEZ promoter SB Adani Family Trust revoked pledge of 37.5 lakh shares on April 21

(As Reported On April 22)

Who’s Meeting Whom

• Mahindra & Mahindra to meet TrustPlutus Family Office and Capital Research Global Investors from April 23-24
• Tata Steel to meet T.Rowe Price on April 23

Trading Tweaks

• Price band revised from 10 percent to 5 percent: Eros International Media, HT Media, Network18 Media & Investments, Pricol, Reliance Capital, TRF, Walchandnagar Industries, Zuari Agro Chemicals NELCO, Premier Explosives.
• Moved into ASM Framework: Xelpmoc Design And Tech, LGB Forge.
• Moved into short term ASM Framework: Jay Bharat Maruti, GMM Pfaudler, Aavas Financiers, AXISCADES Engineering Technologies, Welspun Enterprises, Mahindra Logistics, JBM Auto, GHCL, Suzlon Energy, Punjab Chemicals & Crop Protection.
• Move out of short term ASM Framework: Excel Industries, Capri Global Capital, IOL Chemicals and Pharmaceuticals, IOL Chemicals and Pharmaceuticals, Apex Frozen Foods.

Insider Trading

• Astra Microwave Products promoter Putchalapalli Ashwini acquired 6,000 shares from March 23-25

(As Reported On April 22)

Active Stock Futures

Index Futures

• Nifty April futures closed at 9,200, premium of 13 points versus 10 points discount
• Nifty April futures open interest down 1.6 percent, sheds 1.6 lakh shares in open interest
• Nifty Bank April futures closed at 19,677, discount of 30 points versus 75 points
• Nifty Bank April futures open interest down 2.8 percent, adds 34,000 shares in open interest

Options

• Nifty PCR at 1.37 versus 1.21 (across all series)

Nifty weekly Expiry: April 23

• Max open interest on call side at 9,500 (12.5 lakh shares)
• Max open interest on put side at 9,000 (18 lakh shares)
• Open interest additions seen in 9,000 Put (+9 lakh), 9,200 Call (+5.5 lakh)

Nifty Monthly Expiry: April 30

• Max open interest on call side at 10,000 (18 lakh shares)
• Max open interest on put side at 9,000 (26 lakh shares)