Stocks To Watch: Adani Green Energy, Godrej Industries, Wipro, Zee Learn
Silhouetted employees pass though security as they enter the National Stock Exchange (NSE) in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Stocks To Watch: Adani Green Energy, Godrej Industries, Wipro, Zee Learn

Asian stocks slipped Tuesday, following their U.S. peers lower amid fresh Sino-American tensions and concern over the economic impact of rising coronavirus cases. Crude oil fell. Shares in Tokyo, Sydney and Seoul saw modest declines.

Here are the stocks to watch in trade today:

  • Zee: Bombay High Court has dismissed Zee Learn’s plea against UTI Mutual Fund. Zee Learn cited RBI's moratorium circular as the basis for relief on interest payments to UTI MF. UTI MF has an exposure of approximately Rs 44 crore to non-convertible debentures issued by Zee Learn. UTI MF is a public financial institution; government's policy should be similar for MFs and Banks, Zee Learn argued. RBI’s circular on moratorium cannot be the basis of relief; not applicable to MFs, says Bombay High Court.
  • HDFC Bank has conducted a probe into allegations of improper lending practices and conflicts of interests in its vehicle-financing operation involving the unit’s former head. Bank has decided against proceeding with an earlier proposal to extend the employment of Ashok Khanna, an 18-year veteran at the bank, after the investigation was completed. The result of the investigation isn’t public, but it followed issues thrown up by an internal audit of the bank’s vehicle-dealer lending, as well as allegations of conflicts of interest in the purchase of global positioning systems for vehicles financed by the bank. (Bloomberg News)
  • Moody's Investors Service has confirmed Motherson Sumi Systems' Ba1 corporate family rating (CFR).At the same time, Moody's has changed the outlook on the rating to negative from ratings under review. The negative outlook reflects weak liquidity and the company's upcoming refinancing tasks under more challenging market conditions.
  • City Union Bank: Board approved raising Rs 600 crore via QIP issue and to raise Rs 500 crore via debt.
  • Godrej Industries: Board approved raising Rs 750 crore via NCDs on a private placement basis.
  • Phoenix Mills: Board approved raising Rs 1,100 crore via equity and to issue up to 15.63 lakh convertible equity warrants at Rs 640 per warrant, aggregating to Rs 100 crore.
  • Goa Carbon: Acuite Ratings revised the long term rating to `ACUITE BBB-' from `ACUITE BBB' and reaffirmed the short term rating of 'ACUITE A3+' on the Rs 273 crore bank facilities of the company. Further, Acuite has revised the outlook from 'Negative' to 'Stable'.
  • Sobha on Covid-19 impact: Operations are coming back to normalcy in a gradual manner. Believe at this stage there is no structural long-term impact on business. Since Construction activities are impacted at project sites due to this pandemic. This will have an adverse impact in billing. It will impact on revenue recognition as there will be some delay in handing over of the apartments. The company follows IND AS 115 accounting standards where revenue recognition happens on handing over of the apartment.
  • Bata on Covid-19 impact: Company has reopened more than 1200 of its 1400 stores across the country. The company is going slow on new store openings but will continue expanding into newer towns via the franchise route.
  • Adani Green Energy increased its capacity by 50MW to 2,595 MW for the first quarter of fiscal 2021, on a sequential basis.
  • Zydus Wellness on Covid-19 impact: Some of products like Sugar free, Complan,Glucon-D and Nycil Sanitizer are essential in nature, which have been more resilient in the current situation. There is a good ramp up of e-commerce business. Remain cautiously optimist about next 2 quarters of the financial year 2020-2021.
  • JMC Projects on Covid-19 impact: Construction activities resumed gradually with effect from April 21 in projects situated in rural areas with available workmen. As on date, construction activities have resumed in most of the project sites. However, there has been a fall in the workmen count across project sites. The scale of work progress is therefore yet to get back to the pre Covid-19 pandemic situation. Company is taking appropriate measures including invoking the force majeure conditions and change in law simultaneously to take care of Covid-19 related impact. Further, the company has submitted suitable claims for disruption of operations at various project sites due to lockdown conditions on account of pandemic.
  • Balaji Telefilms said that shoot of all television shows has been halted as one of the company’s actor has tested positive for Covid-19.
  • Panama Petrochem on Covid-19 impact: A collection from debtors has been impacted marginally with some of the customers, as they have requested for a deferred payment schedule, which the company, keeping in mind, the long-term relationship, has accepted. The company did not avail any moratorium from any of its lenders.
  • Capri Global Capital: Total number of customers opted for moratorium stood at 49% as on June 30. On back of the strong liquidity, the Company has not sought any moratorium from any of its lenders. The company has made 100% scheduled repayments till date and also prepayments of Rs 355 crore due till March 2021.

Earnings Today

Q1FY21

  • Wipro
  • Mindtree
  • Century Textiles & Industries
  • Oberoi Realty
  • Delta Corp

Q4FY20

  • ICRA
  • Khadim India
  • National Peroxide

Pledged Share Details

  • Olectra Greentech promoter MEIL Holdings created pledge of 1.06 crore shares on July 9
  • DB Corp promoter DB Consolidated released pledge of 28 lakh shares on July 9

(As Reported On July 13)

Bulk Deals

  • Arvind Fashion Rights Issue: Kotak Standard Multicap Fund sold 4.83 lakh shares at Rs 36.26 per share.

Who’s Meeting Whom

  • Eicher Motors to meet Amansa Capital, GIC and SBI Life Insurance from July 14-15
  • Endurance Tech to meet HDFC Standard Life Insurance and Aditya Birla Sun Life AMC from July 14-15
  • Dixon Tech to meet Abu Dhabi Investment Authority and Taiyo Pacific from July 14-16
  • Affle India to meet Dalal & Broacha, Ocean Dial AMC and other investors from July 14-16.

Who’s Meeting Whom

  • Eicher Motors to meet Amansa Capital, GIC and SBI Life Insurance from July 14-15
  • Endurance Tech to meet HDFC Standard Life Insurance and Aditya Birla Sun Life AMC from July 14-15
  • Dixon Tech to meet Abu Dhabi Investment Authority and Taiyo Pacific from July 14-16
  • Affle India to meet Dalal & Broacha, Ocean Dial AMC and other investors from July 14-16.

F&O Cues

  • Nifty July futures closed at 10807, premium of 5 points vs discount of 2 points
  • Nifty July futures open interest down 1.5%, sheds 1.7 lakh shares in open interest
  • Nifty Bank July futures closed at 22175, premium of 85 points vs premium of 38 pt
  • Nifty Bank July futures open interest up 8.2%, adds 1.3 lakh shares in open interest

Nifty Monthly Expiry: July 16

  • Max open interest on call side at 11000 (33 lakh shares)
  • Max open interest on put side at 10700 (26.2 lakh shares)
  • Active options: 10700 Put (+7.4 lakh shares), 11000 Call (+7.1 lakh shares)

Nifty Monthly Expiry: July 30

  • Max open interest on call side at 11500 (28.2 lakh shares)
  • Max open interest on put side at 10000 (35.2 lakh shares)

Securities In Ban

  • In Ban: BHEL, Century Textiles, Equitas, Escorts, Glenmark, Idea, PNB, SAIL
  • New In Ban: SAIL, Escorts
Stocks To Watch: Adani Green Energy, Godrej Industries, Wipro, Zee Learn
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