Stocks To Watch: Adani Ports, DLF, HDFC, IRCTC, PNB Housing Finance
Men watch a display in front of the Bombay Stock Exchange in Mumbai. (Photographer: Prashanth Vishwanathan/Bloomberg News)  

Stocks To Watch: Adani Ports, DLF, HDFC, IRCTC, PNB Housing Finance

Indian equities recovered all of Friday's biggest single-day drop in nine months with gains over the last three trading sessions. The S&P BSE Sensex ended 2.3% higher at 51,444 while the NSE Nifty 50 also gained 2.2% to end at 15,245.

Here are the stocks to watch in trade today:

  • Adani Ports and Special Economic Zone: To acquire the 31.5% stake held by Windy Lakeside Investment Limited (an affiliate of Warburg Pincus) in Gangavaram Port Limited for around Rs 1,954 crore. The company said the acquisition will expand its market share to 30% across 12 locations in India. The deal is expected to be completed in 45 days. Adani Ports is also in discussions with DVS Raju and Family for their 58.1% stake in GPL. The acquisition is subject to regulatory approvals. Gangavaram Port, located in the northern part of Andhra Pradesh next to Vizag Port, has a a 64M tons capacity. Adani Ports has also initiated consolidation of its rail track assets under one platform
  • Canara Bank: The Indian Banks' Association has informed the bank that the United Forum of Bank Unions has given a call for strike in the banking industry on March 15, 2021 and March 16, 2021 for the issues relating to industry level and not for any bank level issues.
  • DLF: Has decided not to proceed with the proposed issuance of listed secured NCDs aggregating up to Rs 395 crore.
  • HDFC: Has reduced its Retail Prime Lending Rate on Housing loans, on which its Adjustable Rate Home Loans are benchmarked, by 5 basis points, with effect from March 4, 2021.
  • IRCON International: The company will exercise the greenshoe option to the extent of 2.82 crore shares or 6% of the total equity in addition to selling 4.7 crore shares through an offer for sale. Accordingly, the total offer size will be up to 7.52 crore shares or 16% of the total equity of which up to 2.25 crore shares will be available as part of the offer share for retail investors on March 4. Further the issue was subscribed 3.3 times by non-retail investors on March 3. Also the company has been awarded the work for replacement of mechanical signaling at various locations at Moradabad at the expected completion cost of Rs 187.80 crore. The tenure for execution of the works is 24 months. This work has been awarded on competitive bidding basis among PSUs by the Northern Railways, Ministry of Railways.
  • IRCTC: To operate trips through Golden Chariot from March 14, 2021 onwards.
  • Mazagon Dock Shipbuilders: To commission 3rd Scorpene Submarine Karanj on March 10 and has commenced the sea trials of first ship Visakhapatnam of Project P-15B, which is due for delivery later this year.
  • Mahindra Logistics: The company with Bajaj Electricals has announced project ‘Samriddhi’ for integrated logistics services. The two companies have signed an agreement for innovative logistics optimisation and outsourcing arrangement. The deal is a complete end-to-end redesign and outsourcing of Bajaj Electricals’ entire logistics by Mahindra Logistics, with the objectives of achieving enhanced and industry-best service levels, coupled with a logistics cost saving more than 25%. The total contract value of this deal will be more than Rs 1,000 crore over the next 5 years.
  • PNB Housing Finance: India Ratings and Research has revised the outlook on the company’s NCDs to Negative from Stable, while affirming the rating as AA. The outlook revision reflects an added uncertainty around the timing and quantum of the company’s capital raising, which the agency believes could be critical in view of the stress in the loan portfolio, especially on the wholesale lending.

Pledge Share Details

  • Adani Enterprises: Promoters (Gautam Adani and Rajesh Adani) revoked pledge of 3.54 crore shares on March 1.
  • Adani Transmission: Promoters (Gautam Adani and Rajesh Adani) revoked pledge of 9 lakh shares on March 2.
  • Atul: Promoter Samvegbhai Lalbhai revoked pledge of 50,000 shares on March 1.
  • Chambal Fertilisers & Chemicals: Promoter Zuari Global created a pledge of 8.70 lakh shares on March 1.
  • Ruchi Soya Industries: Promoter Patanjali Ayurved created a pledge of 14.25 crore shares on March 1.
  • Steel Strips Wheels: Promoter SAB Industries revoked pledge of 2 lakh shares on March 2. As reported on March 3.

Bulk Deals

  • Nava Bharat Ventures: The company bought 15.46 lakh shares (0.88%) at Rs 71.96 per share.
  • Polyplex Corporation: Promoter Sakhi Saraf bought 3.25 lakh shares (1.04%) at Rs 796.25 per share. Promoter Sanjiv Saraf sold 3.25 lakh shares (1.04%) at Rs 796.25 per share.
  • Bombay Burmah Trading Corp: Promoter Nowrosjee Wadia And Sons sold 3.61 lakh shares (0.52%) at Rs 1,186.30 per share.
  • Renaissance Global: Promoter Amit Chandrakant Shah sold 1.67 lakh shares (0.89%) at Rs 293.60 per share. Darshil Atul Shah bought 1.67 lakh shares (0.89%) at Rs 293.60 per share.
  • Indiabulls Housing Finance: Kotak Securities bought 23.44 lakh shares (0.51%) at Rs 244.14 per share and sold 3.72 lakh shares at Rs 240.42 per share.

Who’s Meeting Whom

  • UltraTech Cement: To meet BNP Paribas Asset Management on March 4.
  • Eicher Motors: To meet Ashmore Investment Management on March 4.
  • Infibeam Avenues: To meet Zaaba Capital on March 4.
  • Paisalo Digital: To meet Tata Mutual Fund and Elara Capital on March 5.

Insider Trades

  • Godrej Industries: Promoter Arel Enterprise LLP acquired 1.38 lakh shares between February 25-26.
  • Deepak Fertilisers & Petrochemicals Corporation: Promoter Robust Marketing Services acquired 8,000 shares on March 1.
  • Prakash Industries: Promoter Ved Agarwal acquired 40,000 shares between March 1-2.
  • Rico Auto Industries: Promoters (Arvind Kapur and Nyla Kapur) acquired 33,000 shares between March 2-3.
  • GMR Infrastructure: Promoter GMR Enterprises sold 4.41 crore shares between February 26 and March 2.
  • Aditya Birla Capital: Promoter IGH Holdings acquired 28.15 lakh shares between February 25 and March 1
  • Meghmani Organics: Promoter Ankit Patel acquired 1.14 lakh shares between March 1-2.
  • Godrej Agrovet: Promoter Godrej Industries acquired 10,250 shares on February 26.
  • HG Infra Engineering: Promoter Harendra Singh Family Trust acquired 8,700 shares on March 2. As reported on March 3.
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