All You Need To Know Going Into Trade On November 22
Most Asian stocks fell Monday amid concerns about European Covid-19 curbs and the risk of the Federal Reserve speeding up stimulus withdrawal.
Shares declined in Japan and Australia, while South Korea climbed amid data showing export growth. U.S. futures edged up after sectors sensitive to the economic outlook led the S&P 500 lower
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, was little changed at 17,701.50, as of 6:45 a.m.
A gauge of the dollar was steady. Oil extended declines on the prospect of key consumers adding emergency supplies as well as the flareup in Covid-19 cases in Europe.
Stocks To Watch
Reliance Industries: The company and Saudi Aramco have agreed to re-evaluate the latter’s proposed investment in RIL’s oil-to-chemicals business. Consequently, the company will withdraw its application with NCLT for segregating the O2C business. The decision to re-evaluate the proposed investment follows RIL’s recently announced plans to develop green energy giga complex at Jamnagar.
Cadila Healthcare: Zydus Cadila has received final approval from the U.S. FDA to market Decitabine for injection in the strength of 50 mg/vial single-dose vial. Decitabine is used to treat myelodysplastic syndromes, certain types of blood or bone marrow cancer. The company has received has also received final approval from the FDA to market Nelarabine Injection 250MG/50ML in the United States.
IRB Infrastructure Developers: Approved Rs 5,347 crore share sale to Cintra INR Investments BV and Bricklayers Investment.
ONGC: The company signed a MoU with Saudi Aramco to explore long-term supply contracts of crude oil, refined petroleum and petrochemical products. Both sides will also look at the demand nd supply of low carbon energy as part of this pact.
Punjab National Bank: The bank has allotted 1,919 Basel III Compliant Tier - II bonds at a coupon of 7.10% per annum aggregating to Rs 1,919 crore on private placement basis.
IRCTC: The Ministry of Railways has withdrawn its decision to terminate all existing contracts of mobile catering (currently kept in abeyance) involving the scope of work of providing cooked food to passengers prepared from base kitchens as per the existing terms and conditions. Further, the ministry has conveyed the decision to resume the services of cooked food in trains.
Natco Pharma: The company has launched a novel fixed-dose combination of Trifluridine + Tipiracil in India under the brand name Tipanat as a pack of 20 tablets in a bottle. Tipanat is a novel antineoplastic nucleoside analog indicated for the treatment of advanced colorectal and gastric cancer.
Motherson Sumi Systems: Ningbo SMR Huaxiang Automotive Mirrors, a 50:50 joint venture in China between Samvardhana Motherson Reflectec and Ningbo Huaxiang Electronic Co, has completed the acquisition of a 60 percent stake in Nanchang JMCG Mekra Lang Vehicle Mirror Co Ltd.
Kesoram Industries: Board approved to raise funds up to Rs 2,500 crore by way of equity, bond, FCCB, ADR, GDR, commercial paper and/or other debt instruments. This fundraising is primarily to retire the company's existing debt and bring down the cost of borrowing.
India Grid Trust: Consortium of IndiGrid 1 and IndiGrid 2 participated in the tariff-based competitive bidding to establish 'Transmission system for evacuation of power from Renewable projects in Osmanabad area (1 GW) in Maharashtra' on build, own, operate and maintain basis by REC Power Development and Consultancy. The estimated cost for the same is around Rs 170 crore. The company awaits receipt of Letter of Intent
Route Mobile: The company has raised Rs 867.49 crore via QIP.
Glenmark Pharmaceuticals: S&P Global Ratings has upgraded the company's rating to BB on expected maintenance of lower leverage; outlook stable.
Amber Enterprises India: The company and its subsidiary IL JIN Electronics India have received approval from the Ministry of Commerce & Industry under the Production-Linked Incentive scheme for white goods (air conditioners).
Prakash Industries: Ministry of Coal has issued the vesting order in company’s favour with respect to the Bhaskarpara Coal Mine in Chhattisgarh.
Pledge Share Details
Future Consumer: Promoter Future Capital Investment invoked pledge of 7 lakh shares on November 17.
As reported on November 18.
Zensar Technologies: RBA Finance & Investment Co. bought 13.33 lakh shares (0.59%) at Rs 450 per share. ICICI Prudential Mutual Fund bought 14.77 lakh shares (0.65%) at Rs 450 per share. Marina Holdco (FPI) sold 2.57 crore shares (11.40%) at Rs 451.72 per share.
Edelweiss Financial Services: Arjuna Fund Pte Ltd bought 21.05 lakh shares (0.22%) at Rs 76.9 per share. Ashoka Pte Ltd sold 21.05 lakh shares (0.22%) at Rs 76.9 per share.
Who’s Meeting Whom
Asian Paints: To meet Marcellus Investment Managers on November 22 and Enam Asset Management on November 23.
Cipla: To meet Stewart Investors on November 22 and Aikya Investment Management on November 23.
Gulshan Polyols: To meet Camelian Capital on November 22 and Unifi Capital on November 23.
Indian Energy Exchange: To meet New Vernon on November 22.
Krishna Institute of Medical Sciences: To meet Ashmore Investment Management on November 22.
Meghmani Organics: To meet Sarath Capital Management on November 22.
Sundram Fasteners: To meet JP Morgan Asset Management on November 22.
TCI Express: To meet Fidelity International on November 22.
Shoppers Stop: To meet Blue Coast Capital on November 22.
Ex-Date Interim Dividend: ONGC, Quess Corp, Ester Industries, Gabriel India, Glenmark Life Sciences, IPCA Laboratories, IRCON International, Jamna Auto Industries, MSTC, Tide Water Oil (India)
Price Band Revised From 10% To 5%: Ugro Capital
Record Date Interim Dividend: Easy Trip Planners
Record Date Stock Split: Steel Strips Wheels
Move Into Short-Term ASM Framework: Suprajit Engineering, KDDL
Move Into ASM Framework: Tata Motors
Move Out Of ASM Framework: Sarda Energy & Minerals, Jubilant Industries, Sharda Motor Industries, Carborundum Universal, SREI Infrastructure Finance
Go Fashion India Ltd.’s IPO gets 578% demand on 2nd day sale; offer closes Nov. 22
S&P Upgrades Glenmark Pharma to ‘BB’; Outlook Stable.
Money Market Update
The rupee ended at 74.23 against the U.S. Dollar on Thursday as compared to Wednesday's closing of 74.27.
Nifty November futures ended at 17,770.10; a premium of 5.3 points.
Nifty November futures shed 0.60% and 1,183 shares in Open Interest
Nifty Bank November futures ended at 38,050; a premium of 73.75 points
Nifty Bank November futures added 0.53% and 3,493 shares in Open Interest
Securities in the ban list: Sun TV, BHEL, SAIL, Nalco
Securities added to the ban list: Escorts, Vodafone Idea
Securities removed from the ban list: Indiabulls Housing Finance, IRCTC