Stocks To Watch: Adani Green, Bank Of Baroda, Bharti Airtel, Future Enterprises, Infosys, IRCTC

Asian stocks followed their U.S. counterparts lower Wednesday as earnings season began and there was no sign of a quick end to the fiscal stimulus stalemate. Treasuries and the dollar were steady. Stocks slipped in Japan and South Korea and were little changed in Australia.

Here are the stocks to watch in trade today:

• Wipro: Board approved proposal to buyback 23.75 crore shares (4.16% equity stake) at Rs 400 per share aggregating to Rs 9,500 crore. Buyback price is at premium of 6.45% to the closing prices as on Oct.13. Members of the promoter and promoter group of the Company have indicated their intention to participate in the proposed Buyback. Company also entered into a definitive agreement to acquire Eximius Design and its Indian arm for $80 million. Eximius Design is an engineering services company with expertise in semiconductor, software and systems design. The acquisition is subject to customary closing conditions and regulatory approvals and is expected to be concluded in Dec. quarter.
• Bharti Airtel group entities moved to Supreme Court challenging the NCLAT order directing them to pay more than Rs 100 crore to Aircel. NCLAT had directed Bharti Airtel and Bharti Hexacom in July to pay Rs 112 crore to Aircel. Supreme Court has stayed the NCLAT order and issued a notice directing Aircel's resolution professional to reply within four weeks
• Bharti Airtel, Vodafone Idea told the government that next payment is due in March 2022. (Bloomberg News)
• NTPC to raise Rs 4,000 crore via issue of NCDs.
• Coal India: Total coal allocation under its four e-auction windows registered about 65% to 41.4 million tons during the first half of the current financial year. With the industrial and commercial activities reviving after the un-lock, company is hopeful that the demand sustains and the sales get boosted soon.
• Competition Commission of India approved proposed acquisition of shares in CG Power and Industrial Solutions by Tube Investments.
• Competition Commission of India approved acquisition of solar energy generation assets by joint venture of Total Solar Singapore and Adani Green Energy.
• Future Enterprises defaulted on payment of interest on NCDs worth Rs 15.14 crore which was due on Oct.12.
• Jindal Polyfilms stated that proposed capacity addition at BOPP film line in Nasik plant will for 44,000 MTPA and it will be added by March, 2022 and 5,800 MTPA capacity of BOPP capacitor line will also added by Jan., 2022. On Oct.6 company had announced investment of Rs 450 crore for the above projects.
• IRCTC: Railways has approved running 196 pairs of trains in the festival season. (Bloomberg News)
• Punjab and Sind Bank: Three NPA accounts worth 133.46 crore declared a fraud. Bank has provided 100% provisioning as per the prudential norms.
• Wockhardt: Board has approved redemption certain preference shares before its due date.

Nifty Earnings

Wipro Q2 (Consolidated, QoQ)

• $ Revenue up 3.66% at $1,992.4 million (Est 1,960 million)
• Revenue up 1.17% at Rs 15,096.7 crore (Est 15,084.7 million)
• Net profit up 3.15% at Rs 2,465.7 crore (Est Rs 2,477 crore)
• EBIT up 8.02% at Rs 2,779.9 crore (Est Rs 2,680.2 crore)
• Margins at 18.4% versus 17.2% (Est 17.8%)
• IT services revenue guidance for Q3FY21 at 1.5-3.5% (Est 0-3%)
• IT services revenue guidance for Q3FY21 at $2,022-$2,062 million

Earnings

Karnataka Bank Q2 (Standalone, YoY)

• Net Interest Income up 15.3% to Rs 574.9 crore
• Net Profit up 12.7% to Rs 119.35 crore
• Total Covid-19 provisions at Rs 97.99 crore at the end of September
• GNPA at 3.97% versus 4.64% (QoQ)
• NNPA at 2.21% versus 3.01% in (QoQ)
• Total deposits up 3.9% at Rs 72,922.6 crore
• Total advances up 1.2% at Rs 54,098.9 crore

Tata Steel Long Products Q2 (Consolidated, YoY)

• Revenue up 52.5% at Rs 1185.9 crore
• Net profit at Rs 59.1 crore versus Net loss at Rs 196.9 crore
• Ebitda at Rs 183.6 crore versus Ebidta loss at Rs 41.8 crore
• Numbers are not comparable as company acquired steel business of Usha Martin on April 9, 2019 and related iron ore and coal mines on July 3 last year.
• Raw material cost as % of sales at 55.8% versus 70.3%

Earnings Today

• Infosys
• Aditya Birla Money
• CHD Chemicals
• Den Networks
• Goa Carbon
• Tata Elxsi
• Tata Steel Bsl
• Titagarh Wagons

Pledged Share Details

• Max Financial Services promoter Max Ventures Investment Holdings created pledge of 90,000 shares from Oct. 9-10.

(As Reported On Oct.13)

Bulk Deals

• Gayatri Projects: GMO Fund sold 67.81 lakh shares (3.62%) at Rs 17.3 per share.

Trading Tweaks

• AGM: MEP Infra Developers, SAIL.
• Price Band Revised From 20% To 10%: Cybertech Systems And Software, Saven Tech.
• Move Into ASM Framework: Granules India, Shakti Pumps.
• Move Into Short Term ASM Framework: Izmo, Kwality, Siti Networks.
• Move Out Of Short Term ASM Framework: Electrosteel Castings, MBL Infrastructures, Precision Wires.

F&O Cues

• Nifty October futures closed at 11,937; premium of 2 points vs premium of 6 points
• Nifty October futures Open Interest up 1.5%, adds 1.7 lakh shares in Open Interest
• Nifty Bank October futures closed at 23,500; premium of 8 points vs premium of 56 points
• Nifty Bank October futures Open Interest up 2%, adds 38,000 shares in Open Interest

Options

• Nifty PCR at 1.50

Nifty Monthly Expiry: Oct. 15

• Max Open Interest on call side at 12,500 (37.5 lakh shares)
• Max Open Interest on put side at 11,800 (24.8 lakh shares)
• Active options: 11,900 Put (5.2 lakh shares), 12,250 Call (8.3lakh shares)

Nifty Monthly Expiry: Oct. 29

• Max Open Interest on call side at 12,500 (23.6 lakh shares)
• Max Open Interest on put side at 10,500 (34.5 lakh shares)