Stocks To Watch: Maruti Suzuki, BPCL, Bharti Airtel, IndusInd Bank, Edelweiss Financial Services
Computer keyboards and screens used for trading on the financial markets are seen on a trader’s desk. (Photographer: Chris Ratcliffe/Bloomberg)

Stocks To Watch: Maruti Suzuki, BPCL, Bharti Airtel, IndusInd Bank, Edelweiss Financial Services

Indian equities began the March F&O series expiry week on a volatile note, ending little changed but with a negative bias. The S&P BSE Sensex ended 90 points lower at 49,771 while the NSE Nifty 50 index ended 8 points lower at 14,736. Both benchmark indices fell for the fifth out of the last six trading sessions.

Here are the stocks to watch in trade today:

  • Edelweiss Financial Services: Has announced the completion of a strategic investment by PAG in Edelweiss Wealth Management consequent to receipt of all regulatory approvals and closure of all formalities. PAG has made an investment of Rs 2,366 crore in EWM, including primary and secondary investment. Pursuant to these transactions, PAG Group and the company will be the shareholders in EWM, of which PAG will hold a controlling stake. Further, the board will meet on March 25 to consider interim dividend for FY21, if any.
  • Maruti Suzuki India: To increase prices across models from April 1 owing to rise in input costs. This is going to be the second price hike this year due to increased input costs. In January the company had hiked vehicle prices by up to Rs 34,000.
  • Bharti Airtel said it will acquire an additional 3.3% stake in special purpose vehicle Avaada MHBuldhana that has been formed for owning and operating a captive power plant. The Sunil Bharti Mittal-led firm has earlier acquired 5.2% stake in Avaada MHBuldhana for Rs 4.55 crore in an all-cash deal.
  • IndusInd Bank: Moody's Investors Service on Monday revised upwards its outlook on the private lender to 'stable' from 'negative' while affirming its rating. The change in the outlook is driven by improvement in its funding and capital, and the marginal hit on asset quality during the pandemic, Moody's said in a note. The bank's long-term local and foreign currency deposit ratings have been affirmed at Ba1, while the baseline credit assessment and adjusted BCA have been affirmed at Ba2, it said.
  • KEC International: Has secured new orders of Rs 1,429 crore across its various businesses. The company has secured orders of Rs 701 crore for Transmission & Distribution projects and the railways business has secured orders of Rs 366 crore. The company has also secured orders of Rs 318 crore for infra works and has secured orders of Rs 44 crores for various types of cables. With these orders the company's current year order inflows have exceeded Rs 11,000 crore.
  • BPCL: Board has approved the Scheme of Amalgamation of Bharat Gas Resources with the company and their respective shareholders. The approval to the scheme is subject to receipt of necessary approvals from the Ministry of Corporate Affairs, other competent authorities and satisfaction of applicable regulatory requirements.
  • Forbes & Company: Board has re-appointed Mahesh Tahilyani as Managing Director of the company for a further period of five years with effect from April 28, 2021.
  • SBI Life Insurance Company: Board to meet on March 25 to consider interim dividend for FY21, if any. The record date for the same is April 5, 2021.
  • Varroc Engineering: Board has approved the opening of QIP of equity shares of face value of Rs 1 each from March 22. The floor price for the issue is Rs 395.41 per equity share, which is at a discount of 2.83% to Monday's closing price. Further a meeting is scheduled to be held on or after March 25 to consider and approve the issue price.
  • Vaibhav Global: Board has approved sub-division of one equity share of face value of Rs 10 each into five equity shares of Rs 2 each, subject to shareholders' approval.

Pledge Share Details

  • Chambal Fertilisers & Chemicals: Promoter Zuari Global created a pledge of 3 lakh shares on March 18.
  • JSW Steel: Promoter Siddeshwari Tradex revoked pledge of 30 lakh shares on March 17. Promoters (Sahyog Holdings and JSW Holdings) created a pledge of 1.13 crore on March 18.
  • Nirlon: Promoter Shital Trading & Interiors revoked pledge of 75,000 shares on March 17.
  • Kesoram Industries: Promoter Manav Investment & Trading Company created a pledge of 1.45 crore shares between March 17-18.
  • Adani Enterprises: Promoter Group (Gautam Adani and Rajesh Adani) revoked pledge of 46.90 lakh shares on March 19.
  • Adani Ports And Special Economic Zone: Promoter Group (Gautam Adani and Rajesh Adani) revoked pledge of 36.76 lakh shares on March 19.
  • Adani Transmission: Promoter Group (Gautam Adani and Rajesh Adani) revoked pledge of 6.25 lakh shares on March 19.
  • Adani Green Energy: Promoter Group (Gautam Adani and Rajesh Adani) revoked pledge of 10.23 lakh shares on March 19. As reported on March 22.

Bulk Deals

  • Kolte - Patil Developers: Unifi Capital bought 12.89 lakh shares (1.70%) at Rs 230 per share. Goldman Sachs India Fund sold 12.71 lakh shares (1.67%) at Rs 230.01 per share.
  • Infibeam Avenues: L7 Hitech sold 99.60 lakh shares (1.50%) at Rs 41.89 per share.
  • Safari Industries (India): Promoter Sudhir Mohanlal Jatia sold 2 lakh shares (0.89%) at Rs 626.22 per share.

Who's Meeting Whom

  • VIP Industries: To meet Motilal Oswal Asset Management Company on March 23.
  • HeidelbergCement India: To meet ICICI Prudential Mutual Fund on March 23.
  • Heranba Industries: To meet Canara HSBC Oriental Bank of Commerce on March 23.
  • Garware Polyester: To meet Jainmay Venture Advisors LLP on March 24 and KC Investments Firm on March 27.
  • Isgec Heavy Engineering: To meet UTI Mutual Fund and Sundaram Mutual Fund on March 25
  • Greaves Cotton: To meet Elephant Asset management on March 23.

Trading Tweaks

  • Ex-Date Interim Dividend: Indian Oil Corporation, Bharat Electronics, AGI Infra
  • Record Date Interim Dividend: Allcargo Logistics, Mishra Dhatu Nigam, Renaissance Global, The Ramco Cements, GAIL (India), NMDC, National Aluminium Company, Ramco Industries, Swastika Investmart
  • Price Band Revised From 20% To 10%: Vidhi Specialty Food Ingredients
  • Move Out Of Short-Term ASM Framework: Quick Heal Technologies, Intellect Design Arena
  • Move Into ASM Framework: PDS Multinational Fashions, NOCIL, Intellect Design Arena

Insider Trades

  • Godfrey Phillips India: Promoter KK Modi Investment And Financial Services bought 5,356 shares on March 22.
  • Godrej Industries: Promoter Arel Enterprise bought 85,831 shares on March 16.
  • NCC: Promoters (AVSR Holdings and Narasimha Developers) bought 9.29 lakh shares between March 17-19. Promoter Ragna Raju sold 9.29 lakh shares March 17-19.
  • Westlife Development: Promoter Makino Holdings sold 7.76 lakh shares between March 18-19.
  • Nilkamal: Promoters bought 6,923 shares on March 18.
  • Panama Petrochem: Promoter Panama Builders Developers bought 22,481 shares between March 18-19.
  • Rajesh Exports: Promoter Rajesh Mehta bought 2,000 shares on March 22.
  • Mold-Tek Packaging: Promoter Mold-Tek Technologies bought 7,202 shares between March 18-19. As reported on March 22.
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