All You Need To Know Going Into Trade On November 14

Firstly, here's wishing all our readers, listeners and viewers a very happy diwali and a joyous and prosperous new year!

India's equity markets will hold a one hour Mahurat Trading session between 6:15 P.M. to 7:15 P.M., on the occassion of Diwali and Samvat 2077.

In overnight trade on Wall Street, the S&P 500 and the Russell 2000 index of smallcaps rallied to an all-time high, while the Dow Jones rose to pre-pandemic levels. This even as Covid-19 situation remains grim, especially in the U.S. with other countries across Europe mulling tighter restrictions.

West Texas Intermediate crude fell 2.4% to $40.15 per barrel while Gold rose 0.6% to $1,889.2/Oz.

Stocks To Watch

• Tata Steel: Sweden's SSAB confirms that it is in discussions with the group regarding a potential acquisition of Tata Steel Europe's IJmuiden steel mill and other related downstream assets. Tata Steel also said that it has initiated the process to separate its Netherlands and U.K. business. Deleveraging is on track, with net debt reduction of $1 billion in H1FY21.
• Tata Metaliks: Board approves amalgamation and consolidation of the company's businesses into Tata Steel Long Products. Shareholders of Tata Metaliks will get 12 fully paid equity shares of Tata Steel Long Products for every 10 shares held. The restructuring is being done to simplify the group structure.
• Kalpataru Power: The company's arm Kohima-Mariani Transmission has successfully commissioned Element-2 of the Imphal-New Kohima line of the project, which now stands completed.
• Valiant Organics: Board approved bonus issue in the ratio of 1:1.
• NBCC: Gets work order worth Rs 612 crore for township in Jharkhand.
• HDFC: HDFC ERGO General Insurance has completed merger of HDFC ERGO Health Insurance with itself.
• Info Edge: Zomato has closed fund raise of $195 million from six different investors. The transaction has valued Zomato has $3.6 billion. Post the fund raising company’s stake in Zomato will be 20.8%.
• Dhani Services: Board has approved sale of its existing asset reconstruction business to prospective buyers - preferably to another asset reconstruction company.
• Punjab National Bank: RBI imposed penalty of Rs 1 crore due to contravention of payment and settlement guidelines.
• Indiabulls Real Estate: September quarter revenue down 98% to Rs 20.1 crore. The company reported a net loss of Rs 76.1 crore as compared to a net profit of Rs 301.1 crore during the same period last year. Ebitda loss of Rs 41.4 crore from Ebitda gain of Rs 515 crore last year.

Pledged Share Details

• JSW Steel: Promoters revoked pledge of 96 lakh shares from November 10-11.
• JSPL: Promoter Danta Enterprises released pledge of 40 lakh shares on November 10.

(As Reported On November 13)

Bulk Deals

• Asian Granito: Barclays Securities acquired 1.59 lakh shares (0.52%) at Rs 292 per share.
• Indiabulls Housing Finance: BNP Paribas Arbitrage acquired 24.84 lakh shares (0.54%) at Rs 175.77 per share.
• Indiabulls Real Estate: Morgan Stanley Asia sold 47.8 lakh shares (1.05%) at Rs 60.36 per share.
• Astec Lifesciences: Promoter Ashok Vishwanath Hiremath sold 5.2 lakh shares (2.66%) at Rs 1,017.9 per share.

Who’s Meeting Whom

• Mahindra & Mahindra: To meet MFS Investment Management on November 17.
• Rallis India: To meet Canara Robeco AMC, Centrum PMS and other investors between November 17-20.

Trading Tweaks

• Price Band Revised From 20% To 10%: Jubilant Industries.
• Move Out Of ASM Framework: Tata Communications, Automotive Stampings and Assemblies, Mukand, Godawari Power And Ispat , Nitin Spinners.
• Move Out Of Short Term ASM Framework: Pitti Engineering.

Insider Trades

• Greaves Cotton: Promoter Karuna Carpets acquired 1.6 lakh shares on November 12.
• Anant Raj: Promoter Ashok Sarin acquired 78,900 shares between November 11-12.
• Hatsun Agro Products: Promoter acquired 5.23 lakh shares between November 12-13.

(As Reported On November 13)

Money Market Update

• The currency ended little changed on Friday at 74.62 against the U.S. Dollar, as compared to Thursday's close of 74.65.
• The rupee ended as the second worst performing currency in Asia for the week.