Stocks To Watch: Adani Ports, Bharti Airtel, Dish TV, Maruti Suzuki, Shree Renuka, Titan, Yes Bank
Trains sit in a rail yard in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

Stocks To Watch: Adani Ports, Bharti Airtel, Dish TV, Maruti Suzuki, Shree Renuka, Titan, Yes Bank

Asian markets are mixed in early trade after benchmarks on Wall Street declined on renewed concerns over the economic impact of Covid-19. The U.S. Dollar and treasuries are holding on to gains while oil prices have dipped.

The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.5% to 10,810 as of 6:45 a.m.

Here are the stocks to watch in trade today:

  • Titan’s Q1FY21 Update: Titan said that it has re-opened 83% of its stores across all business. Complete loss of sales in April and stores began opening from May 6. Production levels are low now, given the inventory situation and will be ramped up only gradually when the company sees sales picking up to normal levels. Postponed the launches of collections across segments to the second quarter of fiscal 2021. In a net cash surplus status largely due to sale of excess inventory in the form of gold to the commodity exchange and certain vendors. Jewellery segment revenue in May and June months were at slightly below 20% and around 70% compared to the corresponding months of the previous year. Store re-opening and sales recovery is better in non-metros, on the back of lower impact of the pandemic there. Watches & wearables segment revenue in May and June months were at 5% and marginally over 20% compared to the corresponding months of the previous year.
  • Yes Bank's board of Yes Bank Ltd. has approved fundraising via a follow on public offer. On June 17, Bloomberg reported that the bank was looking to raise around $1 billion (~Rs 8,000 crore) through a public offering.
  • Adani Ports and SEZ: Board approved raising up to $1.25 billion via dollar denominated foreign currency bonds.
  • Maruti Suzuki: Production levels at June stand at 50,742 units versus 111,917 units, on a year on year basis.
  • Zuari Agro-Chemicals has shut down its NPK-A plant due to non-availability of bagging workers owing to COVID- 19.
  • NCLT approved scheme of arrangement between Crisil and Crisil Ratings. Scheme of arrangement involves transfer of Crisil's business to Crisil Ratings to ensure compliance with revised norms introduced by SEBI. The ratings business will be segregated into Crisil Ratings as a going concern by way of a slump sale. Appointed date for the scheme is Jan. 1, 2020. Crisil will be dissolved without winding up post the completion of the process.
  • Bharti Airtel has launched new prepaid pack with content from ZEE5. Prepaid bundle is valued at Rs 289 for a month and a Rs 79 top-u offers subscription the entire ZEE5 catalogue for 30 days.
  • CEAT: Jwalamukhi Investments reduced stake from 10.92% to 8.72% in the company from April 24(2019) till July 6.
  • Coal India clarified that the unions resorted to strike from 1st shift of July 2 to the 3rd shift of July 4. Normalcy has been restored from July 5.
  • Birlasoft: announced its partnership with Innoveo for digital solutions.
  • J&K Bank: RBI has extended term of chairman and managing director R.K. Chhibber by three more months, with effect from July 10.
  • ZIM Laboratories announced that it has filed the regulatory dossier for approval of Rizatriptan orally dissolving film in Europe.
  • NCL Industries Q1FY21 update: Cement production down 16% at 4.65 lakh tons and cement boards production down 26% at 12,570 tons.
  • Suzlon Energy’s total default amount stood at Rs 8,292.1 crore as on June 30, and total outstanding from banks and financial institutions were at Rs 13,185.5 crore, as per the restructured resolution plan.
  • Valiant Organics on Covid-19 impact: Hopes to be operating at near normal levels from the second quarter of fiscal 2021. Company is experiencing gradual pick-up in demand for its products post commencement of its operations. There are some challenges, as regards sales seen for products used in the dyestuff industry.
  • BEML: Board has approved closure of its loss making arm Vignyan Industries.
  • Ineos Styrolution: Exchanges have issued their in-principle approval for the delisting offer.

Other Earnings

Shree Renuka Sugars Q4 (Consolidated,YoY)

  • Revenue down 2.92% at Rs 1,374.8 crore
  • Net loss at Rs 145.2 crore versus Net loss at Rs 23.2 crore
  • Ebidta up 10.3% at Rs 139.6 crore
  • Margins at 10.2% versus 8.94%
  • Forex gain of Rs 130.4 crore in current quarter
  • Exceptional loss of Rs 96 crore in base quarter
  • Deferred tax at Rs 52.4 crore versus Deferred tax reversal Rs 6.2 crore
  • Other Income of Rs 114.4 crore in base quarter
  • Raw material costs as % of sales at 77.5% versus 79.7%

Earnings Today

  • Dish TV
  • Kokuyo Camlin
  • South Indian Bank

Pledged Share Details

  • Bajaj Electricals promoter Vanraj Bajaj invoked pledge of 18.44 lakh shares on July 3
  • Adani Enterprises promoter SB Adani Family Trust revoked pledge of 1.12 crore shares from July 4-6
  • Jindal Steel & Power promoter revoked pledge of 37 lakh shares from July 3-6
  • JSW Energy promoter Indusglobe Multiventures revoked pledge 1.5 crore shares from July 2-3
  • MEP Infra Developers promoter AJ Tolls created pledge of 10 lakh shares on July 3

(As Reported On July 7)

Bulk Deals

  • CG Power and Industrial Solutions: Yes Bank sold 43 lakh shares (0.69%) at Rs 10.75 per share.
  • Best Agrolife: Aviator Global Investment Fund acquired 1.12 lakh shares (1.4%) at Rs 464 per share.
  • KDDL: Jupiter India Fund acquired 2.67 lakh shares (2.29%) at Rs 152.5 per share and Alchemy Capital (Euro) sold 3.09 lakh shares (2.65%) at Rs 152.5 per share.

Who’s Meeting Whom

  • Mahanagar Gas to meet Fidelity International on July 9
  • Inox Leisure to meet SAIF Partners on July 8

Trading Tweaks

  • AGM Date: L&T Technology Services, Wipro, Onward Technologies, Mayur Uniquoters
  • Fund Raising Date: ICICI Bank
  • Price Band Revised From 10% To 5%: Camlin Fine Sciences
  • Price Band Revised From 20% To 10%: IRB Infrastructure Developers, ITI, Tera Software
  • Move Into ASM Framework: Omfurn India
  • Move Into Short-Term ASM Framework: Cimmco, Chamanlal Setia Exports
  • Move Out Of Short-Term ASM Framework: Megasoft, Future Retail, Future Enterprises, Hilton Metal Forging, Future Enterprises, Tribhovandas Bhimji Zaveri.

F&O Cues

  • Nifty July futures closed at 10,767, discount of 34 points versus discount of 10 points
  • Nifty July futures open interest up 4%, adds 4.5 lakh shares in open interest
  • Nifty Bank July futures closed at 22,603, premium of 25 points versus premium of 28 points
  • Nifty Bank July futures open interest up 9.7%, adds 1.2 lakh shares in open interest
  • Nifty Put Call Ratio at 1.63 versus 1.59 across all series

Nifty Monthly Expiry: July 9

  • Max open interest on call side at 11,000 strike (33.4 lakh shares)
  • Max open interest on put side at 10,000 strike (38.9 lakh shares)
  • Active options: 10,500 Put (+4 lakh shares), 10,800 Call (+8.7 lakh shares)

Nifty Monthly Expiry: July 30

  • Max open interest on call side at 11,000 strike (22.4 lakh shares)
  • Max open interest on put side at 10,000 strike (32 lakh shares)

Securities In Ban

  • BHEL, Equitas, Glenmark, Indiabulls Housing Finance
  • New In Ban: Equitas
  • Out of Ban: SAIL, IDEA
Stocks To Watch: Adani Ports, Bharti Airtel, Dish TV, Maruti Suzuki, Shree Renuka, Titan, Yes Bank
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