Stocks To Watch: Allcargo, Coal India, Jubilant Life, NMDC, Vodafone Idea
A cyclist rides along a near-empty road near the Bombay Stock Exchange (BSE), center, during a lockdown imposed due to the coronavirus in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Stocks To Watch: Allcargo, Coal India, Jubilant Life, NMDC, Vodafone Idea

Asian markets have begun the new trading week on a mixed note after global equities witnessed their biggest two-day slide since June last week.

Markets in Japan and Australia are declining while those in South Korea are fluctuating.

Futures on the Dow Jones are trading lower by 30 points. The index ended 0.6% lower on Friday. Markets in Hong Kong will be in focus after the city flared up in protests on Sunday as well.

Stocks To Watch

  • Vodafone Idea: Board approves raising up to Rs 15,000 crore via NCDs and up to Rs 15,000 crore through issue of equity shares or secrities convertible to equity shares. Total raising of funds shall not exceed Rs 25,000 crore. Proposals to be taken for approval at the company's AGM on September 30.
  • Allcargo Logistics: Board approves the company's de-listing proposal. The floor price for the delisting has been set at Rs 92.58 per share, which is a 22% discount to Friday's closing price.
  • Dilip Buildcon: Declared L-1 bidder for a new HAM project worth Rs 1,905 crore.
  • NMDC: Hikes Lump Ore prices by 10% month-on-month to Rs 3,250 per tonne while prices of Fines raised 11% month-on-month to Rs 2,960 per tonne
  • Coal India: Reduces output target to 660 million from 710 million for FY21..
  • IDFC First Bank: Rajiv Lall resigns as part-time non-executive chairman of the bank citing prolonged health issues.
  • MRPL: To seek shareholder nod to raise Rs 5,000 crore via NCDs on September 12.
  • Endurance Technologies: The company has stated that it is eligible for extension in export incentives and is entitled to receive Rs 466.4 crore under the scheme. It has already accounted for Rs 128.8 crore until Q1FY21.
  • Pricol: Board approves raising Rs 100 crore through a rights issue. It has constituted a Rights Issue committee to consider the terms and conditions of the issue among other factors.
  • Four PSU Banks: Moody's has downgraded the long-term local and foreign currency deposit ratings of Bank of Baroda, Bank of India, Canara Bank and Union Bank of India to Ba1 from Baa3 and their Baseline Credit Assessments (BCAs) to b1 from ba3. The outlook on the ratings of the four banks is negative. The ratings agency has affirmed PNB's long-term local and foreign currency deposit rating at Ba1 and its BCA at b1. However the outlook has been revised to negative from stable.
  • Goa Carbon: Operations at the company's unit at St Jose de Areal, Salcete-Goa has been temporarily shut for maintenance work.
  • GE Shipping: Has contracted to sell its very large carrier. The vessel will be delivered in the third quarter of FY21.
  • ADF Foods: Board approves allotment of 17.5 lakh convertible warrants to promoters and two lakh convertible warrants to non-promoters at Rs 362 per warrant. The total issue amounts to Rs 70.59 crore.
  • Tuticorin Alkali Chemicals: Says that its plant will remain shut till the end of September due to Ammonia supply disruption.
  • Shoppers Stop: CARE Ratings downgrades long-term bank facilities and proposed NCD issue to CARE A+ from CARE AA-. The outlook has been revised to negative from stable.
  • South Indian Bank: Board approves raising Rs 750 crore through issue of securities and Rs 500 crore via debt. The board has also approved increasing the foreign investment limit under NRI / Person of Indian Origin category to 24% of the bank's paid-up share capital.
  • Fineotex Chemicals: Says it is in the process of acquiring four acres of land in Ambernath for capacity expansion at a cost of Rs 27 crore.
  • Som Distilleries: Approves 2:1 stock split.
  • CG Power: Temporarily suspends operations at its Mandideep manufacturing facility due to torrential rains between August 29 and August 30.
  • Happiest Minds IPO: Anchor investors allocated 1.9 crore shares at a price of Rs 166 per share. The company has raised Rs 316 crore from Anchor investors like Government of Singapore, Nomura Funds and Aditya Birla Sun Life Mutual Fund.
  • Non-Nifty Earnings Today: Future Lifestyle Fashions, CG Power, Info Edge, GSFC, HOEC, General Insurance Corporation, Parag Milk Foods

Earnings Reported After Market Hours

Jubilant Lifesciences Q1FY21

  • Revenue down 13.3% to Rs 1,892.2 crore
  • Net profit down 52.4% to Rs 88 crore
  • Ebitda down 30.6% to Rs 301.5 crore
  • Ebitda margin at 15.9% from 19.9%
  • Pharmaceutical segment revenue down 17.5% to Rs 1,095.8 crore
  • Life Sciences Ingredients revenue down 8.5% to Rs 738.8 crore
  • Drug Discovery and Development Solutions revenue up 25.5% to Rs 60.7 crore
  • All numbers are consolidated and compared on a year-on-year basis

NLC India Q1FY21

  • Revenue up 29.6% to Rs 2,699 crore
  • Net profit up 17.3% to Rs 337.9 crore
  • Ebitda up 80.8% to Rs 961.1 crore
  • Ebitda margin at 35.6% from 25.5%
  • Exceptional gain of Rs 42 crore due to one-time rebate to discoms on account of Covid-19.
  • All numbers are consolidated and compared on a year-on-year basis

Ramkrishna Forgings Q1FY21

  • Revenue down 72% to Rs 114 crore
  • Net loss of Rs 30 crore from net profit of Rs 14 crore
  • Ebitda loss of Rs 5 crore from Ebitda gain of Rs 75 crore
  • Deferred tax credit of Rs 16 crore this quarter reduced net loss
  • All numbers are compared on a year-on-year basis

Som Distilleries Q1FY21

  • Revenue down 76% to Rs 67 crore
  • Net loss of Rs 24 crore from net profit of R 15 crore
  • Ebitda loss of Rs 14 crore from Ebitda gain of Rs 29 crore
  • All numbers are compared on a year-on-year basis

Bulk Deals

  • APL Apollo Tubes: Kitara Capital sold 5.94 lakh shares (2.39%) at Rs 2,375.1 per share.
  • Tata Motors DVR: Promoter Tata Sons acquired 53 lakh shares (1.04%) at Rs 56.02 per share.
  • Globus Spirits: Perpetuity Health To Wealth Fund sold 15 lakh shares (0.52%) at Rs 204.1 per share.
  • Shilpa Medicare: Barclays Merchant Bank Singapore sold 4.5 lakh shares (0.55%) at Rs 513.36 per share, Tano Mauritius sold 8.5 lakh shares (1.04%) at Rs 514.29 per share. Nippon India Mutual Fund acquired 21.25 lakh shares (2.61%) at Rs 515 per share, Baring India Private Equity Fund sold 60 lakh shares (7.36%) at Rs 509 per share.

Pledged Share Details

  • Aurobindo Pharma: Promoters created pledge of 67 lakh shares on September 9.
  • Adani Ports & SEZ: Promoter SB Adani Family Trust released pledge of 3.23 crore shares between August 31-September 3.
  • Adani Green Energy: Promoter Adani Trading Services released pledge of 1.25 crore shares on September 3.
  • Menon Bearings: Promoter Menon United released pledge of 20 lakh shares on September 4.
  • Max India: Promoter Max Ventures Investment Holdings released pledge of 10 lakh shares from September 2-3.
  • JB Chemicals & Pharma: Promoter Tau Investment created pledge of 77.28 lakh shares from August 31 - September 1.

As reported on September 4

Who’s Meeting Whom

  • Manappuram Finance: To meet Asian Markets Securities on September 11.
  • United Spirits: To meet HSBC AMC on September 8.
  • Syngene: To meet CLSA and Blackrock between September 7-8.
  • Mahindra and Mahindra: To meet Maple Brown Abbott, HSBC AMC and other investors between September 7-10.
  • Tata Motors: To meet Axis Mutual Fund, ICICI Bank and other investors between September 8-9.

Trading Tweaks

  • AGM Date: Abbott India, Aditya Birla Fashion Retail, Indiabulls Housing Finance, NACL Industries, Ramco Cement, Ramco Industries, Ramco Systems, Shree Renuka Sugar, Tata Metaliks, GNA Axles, Hikal.
  • Fund Raising: Zuari Global, EIH.
  • Price Band Revision From 10% To 5%: DFM Foods.
  • IPO Issue Opens: Happiest Minds Technologies.
  • Move Into ASM Framework: Sanco Industries.
  • Move Out Of ASM Framework: GMM Pfaudler, Ester Industries, Sastasundar Ventures, Alok Industries, Neuland Laboratories, Tilaknagar Industries, 3i Infotech, Alphageo, Tijaria Polypipes, GTL Infrastructure.
  • Move Out Of Short Term ASM Framework: INEOS Styrolution, Wendt, SORIL Infra Resources, Shanthi Gears.

Insider Trades

  • JSW Steel: Promoter JTPM Traders acquired 8.75 lakh shares between August 31 - September 2.
  • Alembic: Promoter Nirayu acquired 14.33 lakh shares between September 2-3.
  • GOCL Corporation: Promoter Hinduja Capital sold 1.46 lakh shares on September 1.
  • Mindtree: Promoters sold 8.5 lakh shares between September 1-3.
  • Wabco India: Promoter ZF International U.K. acquired 34 lakh shares on September 2.
  • Just Dial: Promoter VSS Mani acquired 1.05 lakh shares on September 2.

As reported on September 4.

F&O Cues

  • Nifty September futures end at 11,375; premium widens to 41 points from 22 points
  • Nifty September futures shed 0.3% and 28,000 shares in Open Interest.
  • Nifty Bank September futures end at 23,084; premium widens to 72 points from 49 points
  • Nifty Bank September futures shed 4% and 60,000 shares in Open Interest.
  • Nifty Put-Call Ratio at 1.24
  • Enter F&O Ban: BHEL, JSPL
  • Exit F&O Ban: Escorts
  • Stocks In F&O Ban: BHEL, Canara Bank, Indiabulls Housing Finance, JSPL, PNB, Vodafone Idea.

Nifty Weekly Expiry: September 10

  • Maximum Open Interest on Call side at 12,500 strike (30.8 lakh shares)
  • Maximum Open Interest on Put side at 11,000 strike (20 lakh shares)
  • Active Options: 11,000 Put (8.9 lakh shares) and 11,500 Call (14.1 lakh shares)

Nifty Monthly Expiry: September 24

  • Maximum Open Interest on Call side at 11,500 strike (20.7 lakh shares)
  • Maximum Open Interest on Put side at 11,000 strike (27.9 lakh shares)
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