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Stocks To Watch: Adani Transmission, GM Breweries, Jubilant Life, Kotak Mahindra Bank, ONGC, SpiceJet  

Here are the stocks to watch out for in today’s trade.

People look at stock prices displayed in the trading gallery  in Kuala Lumpur, Malaysia. (Photographer: Samsul Said/Bloomberg)
People look at stock prices displayed in the trading gallery in Kuala Lumpur, Malaysia. (Photographer: Samsul Said/Bloomberg)

U.S. stock futures declined as investors assessed worsening American coronavirus figures as a new quarter begins. Asian shares opened mostly lower. Futures on the S&P 500 Index were down more than 1% after President Donald Trump warned of a “painful” two weeks ahead, with the country grappling to get the outbreak under control. Cases in New York state surged by 9,000. Shares in Japan and South Korea fell while Australia bucked the trend. Hong Kong futures retreated.

Here Are The Stocks To Watch Out For In Today’s Trade

  • ONGC, Oil India, Gujarat Gas, IGL, MGL: India cuts gas prices by 26 percent to $2.39/mmBtu beginning April 1. The new price is the lowest since the government introduced formula-based pricing in November 2014. Prices are below BQSurvey which indicated the prices to be around $2.48.Lower gas prices are negative for producers like ONGC and Oil India.
  • Jubilant Lifesciences received EIR with voluntary action initiated status from U.S. FDA for its solid dosage facility at Salisbury, Maryland USA. The inspection stands successfully closed.
  • Indian Overseas Bank to pass on the repo rate cut to RLLR linked advances which will be at 7.25 percent with effect from April 1. MCLR rates revised with effect from April 10. The one-Year MCLR at 8.25 percent and Three-Year MCLR are at 8.35 percent.
  • Hero MotoCorp: Promoters acquired 2.76 lakh shares, and increased their stake in the company by 0.14 percent to 34.77 percent in the company.
  • Punjab National Bank revised MCLR across various tenors with effect from April 1. One Month MCLR at 7.2 percent and One-Year MCLR at 7.75 percent. Base Rate reduced by 15 basis points to 8.9 percent.
  • Adani Transmission has circled up a second tranche of $90 million and concluded its maiden U.S. private placement of $400 million for dollar-denominated notes.
  • Hindustan Aeronautics stated in a press release that it recorded a turnover of over Rs 21,100 crore for the financial year 2020. Revenue growth stood at 7 percent.
  • PNB Housing Finance Catalyst Trusteeship released a pledge of 5.41 crore shares on March 31.
  • Spandana Sphoorty Financial completed the direct assignment of micro-finance loans of Rs 490.23 crore on March 30. The total amount of Rs 1,261.96 crore has been raised for the March quarter of the financial year 2020.
  • Westlife Development: Suresh Lakshminarayanan resigned from the post of CFO.
  • GE Power India awarded a contract by NTPC to supply Wet FGD Systems for a value of Rs 690 crore.
  • IDFC has completed a transaction for the sale of 30 percent of its stake in its Infra Debt Fund to National Investment and Infrastructure Fund for Rs 256.91 crore.
  • Sterling & Wilson Solar: Promoters facilitate the repayment of Rs 500 crore. The total amount to date paid by promoters stands at Rs 1,500 crore.
  • South Indian Bank reduced its reference rate for external benchmark linked loans from 5.15 percent to 4.4 percent, with effect from April 1.
  • Adani Enterprises received a letter of Award from NHAI for Madhya Pradesh road project for a bid of Rs 866.64 crore.

Covid-19 Impact

  • Spice Jet implements pay for cuts for its employees. Chairman and MD Ajay Singh to take a 30 percent pay cut. Other employees based on a bracket to face 10-30 percent pay cut, across the top and mid-rung levels. Employees in the lowest pay grades will remain unaffected by the decision.
  • G.M. Breweries received a licence to manufacture hand sanitizers from Food and Drugs Administration, Maharashtra State, Thane, which will be valid from March 31 to June 30. The company will be commencing the production of hand sanitizers on a commercial basis shortly.
  • Orient Electric stated that for its electric consumer durables-raw material stocks are adequate to ensure production and supply until mid-April. The anticipated scenario will be a  cascading effect on the cash flows and business performance for a few months to come, estimation for which is unpredictable at this point in time. The disruption’s impact is expected to continue at least until the first quarter of the fiscal year 2021.
  • Minda Industries closes its Spanish arm, till further notice.
  • Fine Organic Industries stated that it has resumed its partial operations at it its manufacturing facilities from March 30.

Bulk Deals

  • Indiabulls Housing Finance: Promoter Sameer Gehlaut acquired 24 lakh shares (0.57 percent) at Rs 96.33 per share.
  • MCX: Ward Ferry Group acquired 9.02 lakh shares (1.77 percent) at Rs 1066 per share and East Bridge Capital Master Fund sold 9.06 lakh shares (1.78 percent) at Rs 1066.08 per share.
  • NCC: KBC Eco Fund acquired 40.22 lakh shares (0.67 percent) at Rs 17.87 per share.
  • Suprajit Engineering: HDFC MF acquired 30 lakh shares (2.14 percent) at Rs 113.5 per share and National Westminster Bank sold 25 lakh shares (1.79 percent) at Rs 113.5 per share.
  • Apollo Pipes: Canara HSBC Orient Bank of Commerce Life Insurance sold 98,989 shares (0.76 percent) at Rs 242 per share.

Who’s Meeting Whom

  • Tata Steel to meet PIMCO, CIMB-Principal Asset Management and Lombard Odier on April 1.

Trading Tweaks

  • Price Band Revised From 10 Percent To 5 Percent: Globus Spirits, Heritage Foods, JBM Auto, Kiri Industries, Majesco, Shree Renuka Sugars, Zensar Technologies.
  • Price Band Revised From 20 Percent To 10 Percent: Caplin Point Laboratories, Sandhar Technologies.
  • Move Into Short-Term ASM Framework: Ajanta Pharma, NIIT, Indoco Remedies, Shriram City Union Finance to
  • Move Out Of Short-Term ASM Framework: Prestige Estates Projects, Aurionpro Solutions, Shoppers Stop

Insider Trading

  • Rain Industries: Promoter Anupama Reddy acquired 65,518 shares from March 30-31.
  • Olectra Greentech promoter MEIL Holdings acquired 6 lakh shares from March 26-27.
  • Mahindra CIE Automotive promoter P.I. Autometal acquired 1.18 lakh shares on March 30.
  • KPIT Technologies promoter SB Ravi Pandit acquired 5.6 lakh shares from March 27-31.

(As Reported On March 31)

Money Market Update

  • The rupee ended weaker at Rs 75.54 against the U.S. dollar on Tuesday versus Rs 75.42 against the dollar on Monday.

F&O Cues

Index Futures

  • Nifty April futures closed at 8620.9, a premium of 23 points versus 9 points.
  • Nifty April futures Open Interest down 3 percent, sheds 3.1 lakh shares in open interest.
  • Nifty Bank April futures closed at 19,135.5, a discount of 8.5 points versus a premium of 17 points.
  • Nifty Bank April futures Open Interest fell 2 percent, shed 17,000 shares in Open Interest.

Options

  • Nifty Put-Call Ratio at 1.19 versus 1.10 across all series.

Nifty Weekly Expiry: April 1

  • Max Open Interest on Call side at 9,000 (14.5 lakh shares).
  • Max Open Interest on Put side at 8,000 (12.1 lakh shares).
  • Open Interest addition was seen in 8,400 Put (+4.7 lakh shares), 9,100 Call (+3.5 lakh shares), 8,300 Put (+2.8 lakh shares).

Nifty Monthly Expiry: April 30

  • Max Open Interest on Call Side at 10,000 (14,400 lakh shares)
  • Max Open Interest on Put side at 8,000 (19,500 lakh shares)
Stocks To Watch: Adani Transmission, GM Breweries, Jubilant Life, Kotak Mahindra Bank, ONGC, SpiceJet