Stocks To Watch: Abbott India, Bandhan Bank, Havells, InterGlobe Aviation, Indian Oil, IRCTC, Nestle India, Piramal Enterprises, SpiceJet

Asian stocks opened mixed Tuesday as traders assessed the challenges economies face removing restrictions to contain the coronavirus pandemic. The dollar held gains. Equity benchmarks fluctuated in Tokyo, and dipped in Sydney and Seoul. Futures in Hong Kong rose.

Here are the stocks to watch in trade today:

• Abbott India: Parent company-Abbott announced that the U.S. Food and Drug Administration has issued Emergency Use Authorization for the company’s Covid-19 lab-based serology blood test on the Alinity i system. The company plans to ship nearly 30 million antibody tests globally in May across its Architect and Alinity i platforms and will have a capacity for 60 million tests in June. (Bloomberg News)
• Aviation Stocks: Government of India mulls resuming commercial flights on May 18 or earlier. (Bloomberg News)
• InterGlobe Aviation has clarified that the company has not formulated any proposal or has shown interest in Virgin Australia.
• IRCTC: All online bookings to happen via IRCTC for running 30 special trains as stated by the Ministry of Railways.
• IOC has re-started several process units at its refineries that were down due to the lockdown. With through-puts gradually picking up pace, the refineries are currently operating at about 60 percent of their design capacities with plans to scale up to 80 percent of the design levels by the end of the month. Company has also restarted production of petrochemicals.
• Laurus Labs: Warburg Pincus decreased its stake in the company from 19.63 percent to 11.68 percent on May 8.
• Ind-Swift Laboratories received EIR from U.S. FDA, with zero Form 483 observations for the Surveillance GMP inspection of its API manufacturing facility located at Derabassi, Punjab.
• Ashok Leyland to consider raising Rs 500 crore via NCDs on May 14.
• Trident to consider raising funds on May 16.
• Great Eastern Shipping clarified on the reports of a fire in its vessel, stating that the afore-mentioned vessel has been safe and it sailing. The vessel was sold to an Indonesian company in July 2013.
• Seamec said that its vessel ‘SEAMEC III’ is likely to be deployed around July end early August after completing the dry docking. The aggregate value of the contract is $23 million. Company’s another vessel has contracted with L&T Hydrocarbon Engineering for working at Mumbai High Offshore for Rs 8.07 crore.

Resumption Of Operations

• Federal Mogul Goetze
• Elgi Equipments
• Tata Chemicals
• Vascon Engineers
• Century Plyboards
• Electrotherm
• Kirloskar Industries
• Acrysil

Other Earnings

Piramal Enterprises Q4 (Consolidated, YoY)

• Revenue down 2 percent at Rs 3,341 crore
• Net loss at Rs 1,701.93 crore versus Net profit at Rs 455.3 crore
• MAT credit written off at Rs 1,758 crore in current quarter
• Expected Credit loss on financial assets at Rs 2,019 crore versus Rs 107.1 crore
• Declared dividend of Rs 14 per share
• Created additional provision of Rs 1,903 crore to mitigate potential contingencies in financial services business

Godrej Agrovet Q4 (Consolidated, YoY)

• Revenue up 17 percent at Rs 1,627.7 crore
• Net profit down 34.4 percent at Rs 74.6 crore
• EBITDA up 68.5 percent at Rs 126.2 crore
• Margins at 7.8 percent versus 5.4 percent
• Exceptional Gain of Rs 88.3 crore in base quarter
• Margins increase due to lower cost of materials

Earnings Today

• Nestle India
• Bandhan Bank
• Blue Star
• Havells
• Indiamart Intermesh
• Prism Johnson
• Sterlite Technologies
• Syngene International
• JK Paper
• Sequent Scientific

Pledged Share Details

• Jamna Auto promoter Map Auto created pledge of 23.21 lakh shares on May 5
• Emami promoters created pledge of 22 lakh shares from May 5-8

(As Reported On May 11)

Who’s Meeting Whom

• PSP Projects to meet IDFC MF on May 12

Trading Tweaks

• Price Band Revised From 20% To 10%: Astec LifeSciences
• Move Into ASM Framework: Empee Distilleries, Alok Industries
• Move Into Short-Term ASM Framework: DB Realty
• Move Out Of Short-Term ASM Framework: Orient Green Power, SMS Pharmaceuticals, Hester Biosciences, Shivalik Rasayan, Mangalam Organics

Insider Trading

• SBI Cards and Payment Services promoter SBI Life Insurance sold 1.12 lakh shares from May 7-8

(As Reported On May 11)

F&O Cues

Index Futures

• Nifty May futures closed at 9225, premium of 14 points versus 15 points premium
• Nifty May futures open interest down 7.5 percent, sheds 5.9 lakh shares in open interest
• Nifty Bank May futures closed at 19,285, discount of 35 points versus 65 points discount
• Nifty Bank May futures open interest up 0.7 percent, adds 10,000 shares in open interest

Options

• Nifty PCR at 1.26 versus 1.31 (across all series)

Nifty Weekly Expiry: May 14

• Max open interest on call side at 9500 (19.4 lakh shares)
• Max open interest on put side at 9000 (15.3 lakh shares)
• Active Options: 9200 Put (+3.4 lakh shares), 9500 Call (+4.4 lakh shares)

Nifty Monthly Expiry: May 28

• Max open interest on call side at 10000 (23 lakh shares)
• Max open interest on put side at 9000 (24.7 lakh shares)

Securities In Ban

• Vodafone Idea