Stocks To Watch: Infosys, Linde India, Tata Elxsi, TTK Healthcare

Asian stocks followed their U.S. counterparts lower, with investors on edge as oil futures plunged to unprecedented levels and earnings season continued. Equities opened lower in Japan, Australia and South Korea. S&P 500 futures edged higher after U.S. stocks fell from six-week highs. West Texas crude futures expiring Tuesday turned negative for the first time, primarily because the end of the May contract forces physical receipt at a time when storage capacity is low.

Here are the stocks to watch in trade today:

• European Union has cleared Reliance Industries and British Petroleum deal. (Bloomberg News)
• Morepen Laboratories has received license to manufacture Hydroxychloroquine from State Drug Controller last week for its Baddi plant in Himachal Pradesh and is working to commercialize the production of HCQ in both API as well as tablets form. Company is also making infrared thermometers, hand sanitizers, hand wash and face masks.
• TCS and Amway have entered into a strategic partnership to transform the latter’s global technology operations.
• JK Lakshmi Cement: Integrated plants at Rajasthan and Chhattisgarh have become operational and have resumed cement dispatches from the said plants.
• Amara Raja Batteries: Andhra plant has resumed operation on a limited scale and most of the operations still stand suspended due to restrictions in the movement of goods and people and compliance of the said orders. However, the Company is fully prepared to scale up the operations based on the requirements and needs of the customers as said in the press release.
• KEC International: Factories at Brazil and Mexico, being identified as an Essential Sector in the respective geographies have been operational throughout. Company has commenced operations at some of its T&D/Railways/Civil sites after receiving the requisites approvals.
• Heidelberg Cement has resumed partial operations in some of its manufacturing units and is in the process of doing so for the other units.
• Shriram Transport Finance: Board to seek shareholders nod to raise up to Rs 35,000 crore.
• Excel Industries: Manufacturing operations have restarted, and will be ramped up gradually.
• HUDCO to consider raising Rs 1,500 crore via bonds on April 24.
• L&T allotted NCDs worth Rs 1,250 crore which will mature on April, 2023.
• IFGL Refractories: Taking immediate steps to resume activities on a truncated basis also at its manufacturing facilities situated in Kandla SEZ.
• Everest Industries has resumed operations at its plants in Odisha, Maharashtra and Uttarakhand.
• Ashoka Buildcon has commenced toll collection on the toll projects of the company and its arms. Company has started operations at most of the projects, whilst receiving permission at various location to resume construction activities and road/power projects related work.
• Neogen Chemicals has resumed partial operations at Navi Mumbai and 3 plants in Gujarat.
• Jubilant Lifesciences: Rakesh Jhunjhunwala increased stake from 3.45 percent to 4.41 percent, as per the latest shareholding pattern.
• JMC Projects: All four road SPV have resumed the collection of user fee at all fee plazas on National Highways.

Bulk Deals

• Reliance Naval & Engineering: Yes Bank sold 91.22 lakh shares (1.24 percent) at Rs 1.33 per share.

Pledged Share Details

• Dish TV promoter Direct Media Distribution Ventures invoked pledge of 1.66 crore shares on April 13
• Wockhardt promoter Themisto Trustee revoked pledge of 6 lakh shares on April 17
• Ajanta Pharma promoter Aayush Agrawal revoked pledge of 3.29 lakh shares on April 17

(As Reported On April 20)

Who’s Meeting Whom

• Bharat Forge to meet Capital World, Franklin Templeton and Capital International from April 21-22
• Mahindra & Mahindra to meet Fidelity Group, Neuberger Berman and UBS Securities from April 21-22

Trading Tweaks

• Andhra Cements, Hubtown, Mahindra Logistics, Muthoot Capital Services, Vipul, Welspun India price band revised from 10 percent to 5 percent.
• Alphageo, IRB Infrastructure Developers, Bharat Road Network, The Jammu & Kashmir Bank, The Jammu & Kashmir Bank, Punjab & Sind Bank, price band revised from 20 percent to 10 percent.
• Welspun Corp, Hubtown, HT Media, Reliance Infrastructure, Reliance Industrial Infrastructure, Bombay Rayon Fashions, Aksh Optifibre, Texmaco Infrastructure & Holdings to move into ASM Framework.
• Igarashi Motors, V.S.T Tillers Tractors, eClerx Services, Wheels India, Kolte - Patil Developers, Premier Explosives, Graphite India, Insecticides (India), Investment Trust of India to move into short term ASM Framework
• Emami, Dishman Carbogen Amcis, Balaji Telefilms, Procter & Gamble Health, IG Petrochemicals, Quick Heal Technologies, Fineotex Chemical, Panacea Biotec to move out of short term ASM Framework.

Insider Trading

• Apollo Hospitals Enterprise promoter Karthik Anand acquired 6,188 shares on March 25

(As Reported On April 20)

Active Stock Futures

F&O Cues

• Nifty April futures closed at 9,260.5, discount of 1.3 points versus premium of 44.6 points
• Nifty April futures open interest down 1 percent, sheds 1.2 lakh shares in open interest
• Nifty Bank April futures closed at 20,482.2, discount of 40 points versus premium of 67.4 points
• Nifty Bank April futures open interest up 2 percent, adds 24,000 shares in open interest
• Nifty Put-Call Ratio at 1.36 versus 1.37 across all series

Nifty Weekly Expiry: April 23

• Max open interest on call side at 10,000 strike (14.1 lakh shares)
• Max open interest on put side at 9,000 strike (13.6 lakh shares)
• Open interest addition seen in 9,700 Call (+3.2 lakh shares), 9,300 Call (+3.2 lakh shares). 9,200 Put (+2.7 lakh shares)

Nifty Monthly Expiry: April 30

• Max open interest on call side at 10,000 strike (18.9 lakh shares)
• Max open interest on put side at 8,000 strike (23.9 lakh shares)

Results Announced

Infosys Q4 (Consolidated, QoQ)

• IT services revenue down 1.4 percent at $3,197 million
• Revenue up 0.8 percent at Rs 23,267 crore
• EBIT down 2.7 percent at Rs 4,927 crore
• Margins at 21.2 percent versus 21.9 percent
• Net profit down 2.9 percent at Rs 4,335 crore
• Named Waze-co founder Uri Levine as an Independent Director
• Suspends provision of guidance for revenue growth and operating margins for now

Tata Elxsi Q4 (Standalone, YoY)

• Revenue up 8.3 percent at Rs 438.9 crore
• Ebitda up 6.5 percent at Rs 97.8 crore
• Margins at 22.3 percent versus 22.7 percent
• Net profit up 15.1 percent at Rs 82.1 crore
• Tax as percentage of PBT at 75 percent versus 66 percent
• Bottom line numbers improved due to lower other expenses
• Board declared dividend of Rs 16.5 per share

Linde India Q1 CY2020 (Consolidated, YoY)

• Revenue down 14.5 percent at Rs 377.3 crore
• Ebitda down 22.9 percent at Rs 87 crore
• Margins at 23.1 percent versus 25.6 percent
• Net profit up 9.6 percent at Rs 39 crore
• Higher net profit because of lower finance costs and lower freight expenses
• Gas segment revenue down 9 percent at Rs 307 crore
• Project engineering segment revenue down 34 percent at Rs 70.5 crore

Earnings Today

• ACC, CRISIL, Den Networks, GTPL Hathway, GSS Infotech , ICICI Prudential Life Insurance, Tejas Networks.

(Corrects spelling of Tata Elxsi in the headline.)