Stocks To Watch: Adani Ports, Future Consumer, IndusInd Bank, Nestle India, UltraTech Cement
Indian equities gave up gains from the early part of the trading day to end little changed as private banking stocks underperformed. The S&P BSE Sensex ended 50 points lower at 52,104 while the NSE Nifty 50 index ended unchanged from Monday's closing at 15,313.
Here are the stocks to watch in trade today:
- UltraTech Cement: Finance Committee of the Board of Directors approves allotment of unconditional, unsubordinated and unsecured U.S. Dollar denominated notes worth $400 million or Rs 2,900 crore due on February 16, 2031. The notes will have a coupon rate of 2.8% per annum, payable semi-annually starting August 16, 2021. The notes will be listed on the Singapore Exchange Securities Trading Ltd.
- IndusInd Bank: Promoters pledge 5.64% stake in the bank with Catalyst Trusteeship. Promoter entities IndusInd Ltd and IndusInd International Holdings pledge stake in the bank. Catalyst Trusteeship acting as security trustee on behalf of lenders. Promoters held 14.67% stake in IndusInd Bank as of December 31, 2020. Sebi had allowed IndusInd Bank promoters to infuse capital in the bank, against convertible warrants issued to them, by February 18.
- Adani Ports and Special Economic Zone: Has completed the acquisition of Dighi Port for Rs 705 crore and would invest over Rs 10,000 crore in developing it as an alternate gateway to JNPT. This would enable APSEZ to service customers in Maharashtra which includes the highly industrial areas and development in the Mumbai and Pune regions.
- Ashok Leyland: Has invested a total amount of Rs 18.66 crore constituting 26% of the paid-up share capital of Prathama Solarconnect Energy.
- Bajaj Electricals: ICRA has upgraded the rating of long-term Line of Credit from A- to A and the rating of short-term Line of Credit from A2+ to A1. Similarly the rating agency has upgraded the credit rating of Non-convertible debentures from A- to A.
- Future Consumer: Has defaulted on payment of principal of Rs 11.76 crore and interest of Rs 5.58 crore due on unlisted NCDs issued by the company. The total financial indebtedness of the listed entity including short-term and long-term debt stands at Rs 526 crore.
- Heritage Foods: Heritage Novandie Foods, a 50:50 joint venture company between Heritage Foods and Novandie, France has started the commercial production on February 16, 2021 and launched French Yoghurt brand Mamie Yova in India.
- ICICI Bank: Has entered into an agreement in relation to an investment in Tap Smart Data Information Services. The cost of acquisition is Rs 4.9 crore. Post investment, the bank will hold 5.40% shareholding (on a fully diluted basis) in Tap Smart Data Information Services through acquisition of 5,492 equity shares for Rs 8,984 per share. Further, The bank has entered into an agreement with fintech startup Thillais Analytical Solutions to buy 9.65% stake in the company. The deal agreed for a cash consideration of Rs 1.1 crore is expected to be closed by the end of March 2021. Post the investment, ICICI Bank will hold 9.65 per cent shareholding, on a fully diluted basis, in Thillais Analytical Solutions through an acquisition of 10 equity shares and 100 CCPS (Compulsory Convertible Preference Shares).
- Infosys: Infosys McCamish Systems, a US-based subsidiary of Infosys BPM, has bought the business and underwriting platform from STEP Solutions Group LLC to ease the complexity of all types of insurance products such as Life, Annuity, and Health, for individuals and groups across North America. STEP Solutions Group LLC is an affiliate of the Dillon Kane Group LLC based in Chicago.
- Mahindra Lifespace Developers: Has announced the inauguration of the Yanmar Group facility at ORIGINS, Chennai. ORIGINS, Chennai is an industrial park developed in a joint venture between a subsidiary of MLDL and Sumitomo Corporation of Japan. With a built-up area of 23,708 sq. mts, the Yanmar Group facility has an annual production capacity of 80,000 engines and will cater to domestic and export markets. Mahindra World City Developers and Sumitomo Corporation have together committed to invest approximately Rs 1000 crore in developing ORIGINS, Chennai, which is expected to create direct employment for about 7000 persons when fully operational.
- Page Industries: Vedji Ticku has resigned as the Chief Executive Officer and Executive Director of the company. The resignation will be effective from close of business hours on May 31, 2021.
- TVS Srichakra: Has signed a Memorandum of Understanding with the Government of Tamil Nadu to facilitate planned capital expenditure program of Rs 1,000 crore announced on December 8, 2020.
- Vedanta: India Ratings has revised the outlook of the company from AA-/Negative to AA-/Stable.
- L&T Finance Holdings: Has closed its rights issue and has raised over Rs 2,998 crore. The rights issue was oversubscribed by approximately 15%. The allotment of shares will take place next week and shares will be listed on BSE and NSE on or by February 26.
- No Earnings Today
Nestle India Q4 CY20 (YoY)
- Revenue at Rs 3,432.6 crore Vs Rs 3,149.3 crore, up 9% (Bloomberg Estimate: Rs 3,510.2 crore)
- Ebitda at Rs 777.0 crore Vs Rs 694.1 crore, up 12% (Bloomberg Estimate: Rs 848.4 crore)
- Margin at 22.6% Vs 22% (Bloomberg Estimate: 24.2%)
- PAT at Rs 483.3 crore Vs Rs 472.6 crore, up 2% (Bloomberg Estimate: Rs 563.4 crore)
Pledge Share Details
- JSW Steel: Promoter JSW Holdings revoked pledge of 2.14 crore shares on February 10.
- Max Financial Services: Promoter Max Ventures Investment Holdings revoked pledge of 4.65 lakh shares on February 12.
- DB Corp: Promoter DB Consolidated revoked pledge of 20 lakh shares on February 15.
- Solara Active Pharma Sciences: Promoter Pronomz Ventures LLP created a pledge of 6.03 lakh shares on February 12. As Reported On February 16.
- Mayur Uniquoters: IDFC Tax Advantage ELSS Fund bought 2.25 lakh shares (0.50%) at Rs 422.5 per share. Standard Chartered Classic Equity Fund bought 2.25 lakh shares (0.50%) at Rs 422.5 per share. IDFC Dynamic Equity Fund bought 2.25 lakh shares (0.50%) at Rs 422.5 per share. IDFC Small And Midcap Equity bought 2.25 lakh shares (0.50%) at Rs 422.5 per share. Kotak Funds-India Midcap Fund sold 9.50 lakh shares (2.10%) at Rs 422.52 per share.
- APL Apollo Tubes: Promoter APL Infrastructure sold 30 lakh shares (2.40%) at Rs 965.15 per share. Smallcap World Fund Inc bought 8.59 lakh shares (0.69%) at Rs 965 per share.
Who’s Meeting Whom
- UltraTech Cement: To meet BNP Asset Management Asia on February 17.
- Price Band Revised From 10% To 5%: Jaiprakash Power Ventures, Optiemus Infracom, Yaarii Digital Integrated Services
- Price Band Revised From 20% To 10%: Goldiam International, Goldiam International, OnMobile Global
- Ex-Date Rights Issue: Authum Investment & Infrastructure, Patel Integrated Logistics
- Ex-Date Bonus Issue: ASM Technologies
- Ex-Date Income Distribution: Mindspace Business Parks REIT
- Ex-Date EGM: PDS Multinational Fashions
- Ex-Date Interim Dividend: Sun TV Network, Firstsource Solutions, MRF, BPCL, Indian Railway Finance Corporation, Kalpataru Power Transmission, The Sandesh, Polyplex Corporation, Page Industries, ONGC, BEML, AVT Natural Products, Akzo Nobel India, Amrutanjan Health Care, Computer Age Management Services, CARE Ratings, ESAB India, Everest Organics, Garden Reach Shipbuilders & Engineers, Hinduja Global Solutions, Indian Metals & Ferro Alloys, Jamna Auto Industries, Metropolis Healthcare, MOIL, NLC India, Page Industries, Polyplex Corporation, Rashtriya Chemicals & Fertilizers, Rishiroop, Shivalik Bimetal Controls, Suven Pharmaceuticals, SVP Global Ventures, Vidhi Specialty Food Ingredients
- Record Date Interim Dividend: Nilkamal, Acrysil, Share India Securities, TCI Express, GPT Infraprojects, Gulf Oil Lubricants India, Torrent Power
- Move Into ASM Framework: Olectra Greentech
- Move Into Short-term ASM Framework: Mayur Uniquoters, Likhitha Infrastructure, Goldiam International, Kirloskar Industries, Shakti Pumps (India), Shriram City Union Finance, HG Infra Engineering
- Move Out Of Short-term ASM Framework: PNG Gilts, NCC, Intellect Design Arena, Olectra Greentech
- Spandana Sphoorty Financial: Promoter Padmaja Gangireddy acquired 10,000 shares on February 15.
- Adani Green Energy: Promoter Harmonia Trade and Investment acquired 25 lakh shares on February 15.
- Godrej Agrovet: Promoter Godrej Industries acquired 13,548 shares on February 11.
- Asian Granito India: Promoter Kamleshbhai Patel acquired 25,000 shares on February 15.
- JK Cement: Promoter Kalpana Singhania sold 15,000 shares between February 11-12.
- Aarti Industries: Promoter Jaya Gogri sold 2,700 shares on February 12.
- Ultramarine & Pigments: Promoters (S Narayan and Srinath Sridhar) sold 4,100 shares on February 15.
- Kotak Mahindra Bank: Promoter Janak Desai sold 4,000 shares on February 16. As Reported On February 16.