Stocks To Watch: Adani Power, Ambuja Cements, Axis Bank, HDFC Life Insurance, IndusInd Bank, UPL
Traders work on computer screens at the Frankfurt Stock Exchange in Frankfurt, Germany. (Photographer: Hannelore Foerster/Bloomberg)

Stocks To Watch: Adani Power, Ambuja Cements, Axis Bank, HDFC Life Insurance, IndusInd Bank, UPL

Stocks opened mixed in Asia and U.S. futures dipped after a modest rally on Wall Street overnight. Crude oil prices extended sharp losses from Monday. Japanese stocks opened lower, while South Korean ones climbed, with Australian shares little changed.

Here are the stocks to watch in trade today:

  • UPL has completed the acquisition of Yoloo Bio-Tech. The acquisition was announced on Nov. 14.
  • Gulf Oil Lubricants has resumed partially its plant operations at Silvassa. Permission is so to supply customers in the essential categories till May 3.
  • Triveni Engineering: Gear business plant at Mysuru and few EPC sites of water business have partially resumed operations. Sugar and distillery units have been operating normally throughout the lockdown period.
  • LT Foods: Most of the plants are working with lesser and absolutely essential manpower. Modern trade segment has performed exceedingly well in the month of March and April due to a lot of people stocking up and consumers are also giving preference to packaged goods taking into account the safety aspect. Company’s International subsidiaries plants are also functioning in-line with the increasing demand.
  • HDFC Life Insurance: Board gave in-principle approval to raise Rs 600 crore via NCDs. Company has created a reserve of Rs 41 crore towards Covid-19. Topline was impacted to the extent of Rs 400-500 crore in terms of new business premium due to coronavirus impact. On an overall level, the total premium was impacted by Rs 1,100 crore in the last 15 days of March, considering new business premium and renewal premium put together, as per the company’s concall.
  • IGSEC Heavy Engineering: Manufacturing plants have partially reopened and construction work has resumed at some of the company’s project sites.
  • SH Kelkar: Manufacturing units at Vaishali and Vapi have resumed operations partially.
  • Jagran Prakashan has allotted NCDs worth Rs 150 crore.
  • Everest Industries’ plants in Madhya Pradesh and Gujarat have resumed operations.
  • Kirloskar Oil Engines’ has started operations in its plants at Nasik and Ahmedabad.
  • Minda Industries’ has resumed operations at Pantnagar and Waluj plants. Manufacturing facilities in Spain have also resumed.
  • Havells said that operations in some of the plant locations have started in certain states.
  • Elantas Beck has started operations at Ankleshwar plant in Gujarat. Operations at Pune plant continue to remain suspended.

Nifty Earnings

IndusInd Bank Q4 (Standalone, YoY)

  • Net Interest Income up 44.7 percent at Rs 3,231.2 crore (Est Rs 2,900 crore)
  • Net profit down 16.2 percent at Rs 301.8 crore (Est Rs 413 crore)
  • Provisions at Rs 2,440.3 crore versus Rs 1,560.7 crore (Rs 1,043.5 crore, QoQ)
  • GNPA at 2.45 percent versus 2.18 percent (QoQ)
  • NNPA at 0.91 percent versus 1.05 percent (QoQ)
  • Covid-19 related provision at Rs 260 crore

Other Earnings

HDFC Life Insurance Q4 (Standalone, YoY)

  • Gross Premium up 3 percent at Rs 10,615 crore
  • Net Profit down 14 percent at Rs 312 crore
  • VNB Margins for financial year 2020 at 25.9 percent versus 25 percent
  • 13th Month Persistency for financial year 2020 at 88 percent versus 84 percent

Adani Power Q4 (Consolidated, YoY)

  • Revenue down 8.2 percent at Rs 6,172.4 crore
  • Net loss at Rs 1,313 crore versus net Profit at Rs 634.6 crore
  • EBITDA down 66.4 percent at Rs 204.5 crore
  • Margins at 3.3 percent versus 9 percent

Ambuja Cements Q1CY2020 (Standalone, YoY)

  • Revenue down 3.4 percent at Rs 2,827.5 crore
  • Net profit down 6.5 percent at Rs 399.1 crore
  • EBITDA up 30.2 percent at Rs 603.2 crore
  • Margins at 21.3 percent versus 15.8 percent
  • Sales Volume down 10 percent at 5.76 million ton

Earnings Today

  • Axis Bank

Bulk Deals

  • Paisalo Digital: Heshika Growth Fund acquired 5.7 lakh shares (2.24 percent) at Rs 161.75 per share and Plutus Terra India Fund sold 5.7 lakh shares (2.24 percent) at Rs 161.75 per share
  • RBL Bank: BNP Paribas Arbitrage acquired 60 lakh shares (1.18 percent) at Rs 112.75 per share
  • Reliance Naval & Engineering: Yes Bank sold 1.28 crore shares (1.74 percent) at Rs 1.35 per share

Who’s Meeting Whom

  • Manappuram Finance to meet Keyrock Capital on April 28
  • Affle to meet Nippon India MF on April 28

Trading Tweaks

  • Price Band Revised To 5 Percent From 10 Percent: A2Z Infra Engineering, CL Educate, Infibeam Avenues, Prakash Industries
  • Price Band Revised To 10 Percent From 20 Percent: Jocil
  • Move Into ASM Framework: IFB Agro Industries, Mahindra CIE Automotive, CreditAccess Grameen, GE T&D India, Dish TV, Axiscades Engineering Technologies, Shalimar Paints
  • Move Into Short-Term ASM Framework: Nippon Life India Asset Management, Lakshmi Vilas Bank, Indiabulls Real Estate
  • Move Out Of Short-Term ASM Framework: Greaves Cotton, Balaji Amines, Ashoka Buildcon, ITD Cementation, NCL Industries, IRB Infrastructure Developers, Dilip Buildcon, PNC Infratech, Firstsource Solutions, AU Small Finance Bank, Music Broadcast

F&O Cues

  • Nifty April futures closed at 9,295, premium of 7 points versus 16 points premium
  • Nifty April futures open interest down 19.5 percent, sheds 17 lakh shares in open interest
  • Nifty Bank April futures closed at 19,517, premium of 26 points versus 69 points discount
  • Nifty Bank April futures open interest down 20 percent, sheds 2.5 lakh shares in open interest
  • Nifty Put Call Ratio at 1.36 versus 1.34 (across all series)

Nifty Monthly Expiry: April 30

  • Max open interest on call side at 9,500 strike (25.6 lakh shares)
  • Max open interest on put side at 9,000 strike (32.3 lakh shares)
  • Open interest change in 9,200 Put (+7.1 lakh shares), 9,500 Put (+4 lakh shares)
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