Stocks To Watch: Adani Enterprises, Allcargo Logistics, Axis Bank, Future Retail, Globus Spirits, IRB Infra, LIC Housing Finance

Asian stocks climbed Tuesday after U.S. equities rose to a record high on optimism about treatments for the coronavirus. Treasuries were steady. Stocks rose in Japan, Australia and South Korea.

Here are the stocks to watch in trade today:

• Axis Bank has now proposed to acquire 17.002% of the equity share capital of Max Life, resulting in total ownership of 18% post the transaction. The parties have executed the definitive agreements. Earlier the proposal for the Bank was to acquire 29.002% stake in Max Life.
• Allcargo Logistics promoter group has proposed to delist the equity shares on the bourses and acquire stake held by the public shareholders. Promoters hold 70.01% stake in the company, while the public shareholders hold the remaining 29.99% stake. Final offer price will be determined through reverse book building process as per SEBI guidelines. Promoters Shashi Kiran Shetty and Talentos Entertainment send the delisting proposal letter to the company on Aug.24. Board to meet on Aug.27 to consider the delisting proposal.
• Adani Group is in talks to acquire a 50.5 per cent stake held by GVK Group in Mumbai International Airport and another 23.5 per cent of minority partners, Airports Company South Africa, and Bidvest Group. (Press Trust of India)
• JSW Energy: Jyoti Kumar Agarwal has resigned from post of CFO and director of finance with effect from Sept. 15.
• KRBL has clarified that Enforcement Directorate has consented to lifting its attachment over 80,000 tonnes and not 8,00,000 tonnes and secondly, the aforesaid paddy was never the subject matter of the attachment proceedings commenced by Enforcement Directorate as erroneously reported by the media.
• Greenlam Industries has received certification for developing laminates that kill up to 99.99% of viruses.
• Future Retail said that it has paid interest for an amount of $14 million which was due on dollar notes.
• Zydus Wellness to consider raising funds via preferential issue/qualified institutional placement of shares on Aug.27.
• JK Paper’s arm Sirpur Mills has temporarily shut down its production operations at its manufacturing facility at Telengana due to Covid-19 impact.
• SEBI has levied penalty of Rs 2 lakh on Orissa Mineral Development due delay in sending information to stock exchange notifications in 2012.
• Prince Pipes and Fittings announced the launch of Prince FlowGuard Plus for supply of clean water in association with US based company- Lubrizol (inventors and largest manufacturers of CPVC compounds worldwide)
• Xchanging Solutions: Board to consider the decision on voluntary delisting proposal as proposed by company’s promoters on Aug.28.
• India Energy Exchange: Rajiv Srivastava has resigned from post of MD and CEO with effect from Aug.24. Satyanarayan Goel ,non-executive chairman of the board has been given an additional charge of Managing Director & CEO of the Company, for an interim period with immediate effect.
• Blue Star: SBI Mutual Fund increased stake from 4.92% to 5.36% on Aug.20
• GMR Infra to consider raising Rs 5,000 crore via issue of securities in tranches on Aug.27
• Ceat has commissioned phase II of the Nagpur plant to produce two-wheeler tyres for commercial purpose.
• Security and Intelligence Services: Promoters Ravindra Kishore Sinha to sell up to 5.4 lakh shares (0.37% stake) and Rituraj Kishore Sinha up to 2.75 lakh shares (0.19%) to comply with requirement of minimum public shareholding. Divestment period will be from Aug 26-31, or the actual date of completion of sale of all equity shares, whichever is earlier.

Other Earnings

LIC Housing Finance Q1 (Standalone, YoY)

• Net Interest Income up 2.87% at Rs 1,239.2 crore (Est Rs 1,112 crore)
• Net profit up 33.9% at Rs 817.5 crore (Est Rs 505 crore)
• Higher impairment provisions were recorded in base quarter

Globus Spirits Q1 (Consolidated, YoY)

• Revenue down 22.3% at Rs 230.1 crore
• Net profit up 2.6 times at Rs 18.7 crore
• Ebitda up 46.5% at Rs 39.4 crore
• Margins at 17.1% versus 9.08%
• Margins improve due to lower raw material costs and other expenses
• Excise duty up 3.4 times at Rs 62 crore impacted revenue

IRB Infrastructure Developers Q1 (Consolidated, YoY)

• Revenue down 42.3% at Rs 1,022.3 crore (Est Rs 831 crore)
• Net loss at Rs 30.1 crore versus Net profit at Rs 206.6 crore (Est Net loss at Rs 71 crore)
• Ebidta down 44.2% at Rs 477.6 crore (Est Rs 307 crore)
• Margins at 46.7% versus 48.2% (Est 36.9%)

Earnings Today

• Atul Auto
• Can Fin Homes
• Everest Kanto Cylinder
• Federal-Mogul Goetze
• Ircon International
• National Peroxide
• Phillips Carbon Black
• P&G Hygiene and Healthcare

Pledged Share Details

• Ajanta Pharma promoter Aayush Agrawal released pledge from 4.83 lakh shares from Aug.20-21
• GMR Infra promoter GMR Enterprises released pledge of 2.36 crore shares on Aug.21
• UFO Moviez promoter Apollo International created pledge of 22.66 lakh shares on Aug.22
• Chambal Fertilisers and Chemicals promoter Zuari Global revoked pledge of 49.5 lakh shares on Aug.20
• JSW Steel promoter JSW Technoprojects released pledge of 16.1 lakh shares on Aug.19
• Max Financial Services promoter Max Ventures Investment created pledge of 7.65 lakh shares on Aug.20
• Motherson Sumi Systems promoter Samvardhana Motherson International revoked pledge of 70 lakh shares on Aug.20
• LT Foods promoter Raghuvesh Holdings revoked pledge of 39.91 lakh shares on March 9
• Adani Power promoters revoked pledge of 2.37 crore shares on May 22
• JSW Energy promoters revoked pledge of 62 lakh shares on Aug.21
• Zuari Agrochemicals promoter Zuari Global created pledge of 11 lakh shares on Aug.20

(As Reported On Aug.24)

Who’s Meeting Whom

• Cummins India to meet Quantum, IIFL AMC and other investors on Aug.28.
• CG Consumer Electricals to meet Capital Research, Aberdeen and other investors from Aug.27-Sept. 4
• Mahindra and Mahindra to meet Wellington Management, Fidelity International and other investors from Aug.25-28.
• Punjab National Bank to meet SBI MF and Franklin Templeton from Aug.25-26.
• Tata Steel to meet Nippon MF and Aditya Birla MF from Aug.25-27

Bulk Deals

• Ramco Systems: Premier Capital & Services acquired 2.04 lakh shares (0.66%) at Rs 230.39 per share and Habrok India Master sold 1.87 lakh shares (0.61%) at Rs 233.5 per share.
• India Energy Exchange: REC sold 25 lakh shares (0.83%) at Rs 190 per share and PPFAS Mutual Fund acquired 24.85 lakh shares (0.83%) at Rs 190 per share.
• Sadbhav Infaprojects: Norwest Venture Partners (Mauritius) sold 1.19 crore shares (3.38%) at Rs 15.01 per share.

Block Deals

• ICICI Bank: Merrril Lynch Markets Singapore acquired 90 lakh shares (0.17%) at Rs 378.6 per share and Societe General sold 90 lakh shares (0.17%) at Rs 378.6 per share.

Trading Tweaks

• AGM Date: Tata Power, Polyplex, Aarti Drugs, Birla Corporation, Century Textiles, Cummins, IndusInd Bank, Sequent Scientific.
• Fund Raising: Va Tech Wabag, HG Infra Engineering
• Record Date For Share Split: Eicher Motors (From face value of Rs 10 to Rs 1 per share).
• Price Band Revised From 10% To 5%: Setco Automotive, Shiva Texyarn, Windsor Machines, Acrysil.
• Price Band Revised From 20% To 10%: GPT Infraprojects, Panama Petrochem, RSWM, Swelect Energy Systems, Andhra Petrochem, Flex Foods.
• Move Into Short Term ASM Framework: BASF India, IFGL Refractories, Mahindra Logistics, MAS Financial Services, Monnet Ispat & Energy.
• Move Out Of Short Term ASM Framework: Ashiana Housing, Edelweiss Financial Services, Electrotherm, Intellect Design Arena, Kirloskar Electric, Lemon Tree Hotels, Matrimony.com, Nandan Denim, NGL Fine-Chem, Vascon Engineers, Elgi Equipment.

Insider Trades

• JSW Steel promoters JTPM Metal Traders acquired 30 lakh shares from Aug.19-20
• Jamna Auto promoter Pradeep Singh Jauhar acquired 50,000 shares on Aug.20

(As Reported On Aug.24)

F&O Cues

• Nifty August futures closed at 11,478; premium of 12 points vs premium of 11 points
• Nifty August futures Open Interest down 11%, sheds 10 lakh shares in Open Interest
• Nifty Bank August futures closed at 22814; discount of 19 points vs premium of 7 points
• Nifty Bank August futures Open Interest down 2.5%, sheds 33,000 shares in Open Interest

Options

• Nifty PCR at 1.4

Nifty Monthly Expiry: Aug 27

• Max Open Interest on call side at 11,500 (36.2 lakh shares)
• Max Open Interest on put side at 11,000 (39.3 lakh shares)
• Active options: 11,400 Put (17.5 lakh shares), 11,400 Call (-4.9 lakh shares)

Ban List

• In Ban: Adani Enterprises, BHEL, NALCO, PNB, Vodafone Idea, GMR Infra, SAIL, Ashok Leyland, Vedanta
• New In Ban: Vodafone Idea, GMR Infra, SAIL, Ashok Leyland, Vedanta
• Out Of Ban: Aurobindo Pharma, Canara Bank, Indiabulls Housing, Muthoot Finance, RBL Bank