Stocks To Watch: BPCL, Eicher Motors, Hero MotoCorp, NMDC, Quess Corp
Pedestrians wearing protective masks walk past the BSE building in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

Stocks To Watch: BPCL, Eicher Motors, Hero MotoCorp, NMDC, Quess Corp

Indian equity markets staged a rebound, starting the new week and new month on a positive note. Auto, Cement and PSU stocks were among the top performers in today's session. The S&P BSE Sensex ended 1.53% higher at 49,849 while the NSE Nifty 50 gained 1.6% to end at 14,761. All constituents on the Nifty 50 index, barring Bharti Airtel closed higher.

Here are the stocks to watch in trade today:

  • BPCL: To sell its 61.65% stake in Numaligarh Refinery to a consortium of Oil India and Engineers India and to the Government of Assam for Rs 9,875.96 crore. Further if the government fails to acquire stake then the entire stake will be sold to the consortium. The sale is expected to be completed within a month from obtaining all requisite approvals.
  • Hero MotoCorp: Overall sales in February up 1.4% at 5,05,467 units Vs 4,98,242 units. Domestic sales rose 0.9% year-on-year while exports rose 16.5% to 21,034 units Vs 18,046 units. The company is optimistic of demand for two-wheelers strengthening further owing to the economic recovery and vaccination drive gathering pace.
  • Eicher Motors: Overall sales in February up 10% at 69,659 units Vs 63,536 units. Exports rose 94% year-on-year to 4,545 units Vs 2,348 units during the same period last year.
  • Aditya Birla Fashion and Retail: Apparel Market is projected to grow at a 10% CAGR and reach $107 billion by FY25. Organized Retail (Brick n Mortar & Online) to grow from 33% to 41% in next 5 years. Lifestyle brands have been consistently profitable with 50%+ ROCE and are projected to be Rs 9,000 crore by FY26. Share of casual business grew from 34% to 59% for Lifestyle Brands. Peter England Red plans to build Rs 900 crore business spread across 1000 stores over next 3 years. Allen Solly Prime plans to open 500 stores in 3 years. On course to increase share of Private labels from 61% in FY20 to 75% in FY25. The company plans to add 250 stores in the next 3 years across 100 new towns. E-commerce channel scaled up 3x during FY21; to contribute 8-10% of sales by FY25.
  • Central Depository Services (India): National Stock Exchange of India, The Multi Commodity Exchange of India, India INX International Exchange, National Securities Depository Limited and Central Depository Services (India) Limited have signed a Memorandum of Understanding for setting up Market Infrastructure Institutions comprising of International Bullion Exchange, Clearing Corporation and Depository at Gujarat International Finance Tec-City Trade (GIFT) City.
  • IRCTC: The Madras High Court has directed the company to terminate all existing contracts of mobile catering involving scope of work of providing cooked food to passengers prepared from base kitchens as per the existing terms and conditions. Such contracts were currently kept in abeyance.
  • NMDC: Production in February up 19.13% year-on-year to 3.86 MT. Sales up 11.68% year-on-year to 3.25 MT.
  • Power Grid Corporation Of India: The Board of Directors have approved the payment of interim dividend of Rs 4 per equity share of Rs 10 each for the Financial Year 2020-21. The Interim Dividend will be paid to the members on March 30, 2021.
  • Petronet LNG: The company has incorporated a wholly-owned subsidiary, Petronet Energy Limited, for undertaking GUCD operations, LNG Bunkering and other allied services. The authorised share capital of the Petronet Energy is Rs 500 crore divided into 50 crore equity shares of Rs 10 each.
  • PVR: Opens three new screens in Kanpur. The company now operates 838 screens at 176 properties in 71 cities.
  • Quess Corp: Has announced the separation of its Chairman and MD roles. Suraj Moraje, currently Group CEO and Executive Director, will be elevated to Group CEO and Managing Director from April 1. Ajit Isaac, currently Executive Chairman and MD, will continue in the role of Executive Chairman. The company has also appointed N Ravi Vishwanath as CFO effective April 1. Subramanian Ramakrishnan, the current CFO, will step down on March 31.
  • Sutlej Textiles & Industries: The company has commenced commercial production of Greenfield - Green Fibre Project to manufacture Polyester Staple Fibre by recycling of pet bottles. The project set up at Baddi in Himachal Pradesh has a capacity to manufacture 120 MT per day of Raw White, Black and Dope Dyed Recycled Polyester Staple Fibre.
  • Texmaco Rail: Issues equity shares worth Rs 115 crore on a preferential basis to the company's promoters.
  • UPL: The company has announced a long-term strategic collaboration with FMC Corporation. The agreement will provide UPL access in key markets prior to patent expiration, to commercialise Rynaxypyr active, FMC's leading insecticide. As per the agreement, UPL will toll manufacture and supply Rynaxypyr to FMC in India, and FMC will supply the active ingredient to UPL depending on the markets. The deal adds a key portfolio of products to UPL's business and supports FMC in maximising the penetration of this important active ingredient.
  • VST Tillers Tractors: Tractor sales declined 10.10% year-on-year to 507 units. Power Tillers' sales up 58.63% year-on-year to 2,159 units.
  • Wipro: The company has appointed Philippe Dintrans as Senior Vice President and Head, Domain & Consulting, of Wipro’s iDEAS business.

Pledge Share Details

  • JSW Energy: Promoter Siddeshwari Tradex created a pledge of 96.25 lakh shares on February 24.
  • Adani Ports And Special Economic Zone: Promoters (Gautam Adani and Rajesh Adani) revoked pledge of 35 lakh shares on February 26.
  • Adani Transmission: Promoters (Gautam Adani and Rajesh Adani) revoked pledge of 42.67 lakh shares on February 26.
  • Jindal Steel & Power: Promoters (Siddeshwari Tradex and OPJ Trading) created a pledge of 58 lakh shares between February 23-24.
  • Max Financial Services: Promoter Max Ventures Investment Holdings revoked pledge of 1.20 lakh shares on February 26.
  • Asian Paints: Promoter Hiren Gandhi created a pledge of 1.10 lakh shares on February 23. As Reported On March 1.

Bulk Deals

  • Nath Bio-Genes (India): Monarch Infra Ventures bought 1 lakh shares (0.53%) at Rs 277.6 per share.
  • Himadri Speciality Chemical: Plutus Wealth Management LLP sold 40 lakh shares at Rs 47.23 per share. BC India Investments sold 50 lakh shares (1.19%) at Rs 51.75 per share.

Who’s Meeting Whom

  • Voltas: To meet DAM Capital on February 3.
  • Firstsource Solutions: To meet Steinberg on March 2, White Oak on March 3 and Kotak MF on March 5.
  • Sudarshan Chemical Industries: To meet HDFC Mutual Fund on March 2.
  • Syngene International: To meet Genesis Investment Management on March 2 and Somerset Capital Management on March 4.
  • Torrent Power: To meet BOB Capital Markets on March 3.
  • Tata Chemicals: To meet Blackrock HK on March 3.

Trading Tweaks

  • Price Band Revised From 20% To 10%: Greaves Cotton, Linde India, MMTC, National Fertilizers, Rashtriya Chemicals and Fertilizers
  • Ex-Date Interim Dividend: Butterfly Gandhimathi Appliances
  • Ex-Date Bonus Issue: Quint Digital Media
  • Move Into ASM Framework: Somany Ceramics
  • Move Into Short-term ASM Framework: Reliance Power, Greaves Cotton, Aditya Birla Capital, Eveready Industries India, Manali Petrochemical, Sundaram Finance, Greenply Industries
  • Move Out Of Short-term ASM Framework: Repco Home Finance

Insider Trades

  • Godrej Agrovet: Promoter Godrej Industries bought 15,250 shares on February 24.
  • Aditya Birla Capital: Promoter IGH Holdings bought 34.15 lakh shares between February 23-24.
  • Jindal Steel & Power: Promoter Sarika Jhunjhnuwala sold 20,000 shares on February 22.
  • Olectra Greentech: Promoter LP Sashikumar sold 25,000 shares on February 24
  • Deepak Fertilisers & Petrochemicals Corporation: Promoter Robust Marketing Services bought 35,000 on February 25.
  • Aarti Industries: Jaya Gogri sold 5,000 shares on February 26.
  • Ashapura Minechem: Promoter Ashapura Industrial Finance bought 25,000 shares on February 26. As Reported On March 1.
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