Stocks To Watch: Ambuja Cements, Bharti Airtel, Dish TV, Future Enterprises, Indiamart Intermesh
Indian equities ended lower for the second day in a row as technology names and drugmakers continued to underperform. The S&P BSE Sensex ended 0.8% lower at 51,703 while the NSE Nifty 50 index held on to its support zone of 15,200 to end at 15,208, down 0.7%.
Here are the stocks to watch in trade today:
- Bharti Airtel: To acquire (10.20 crore shares) 20% stake in its DTH arm Bharti Telemedia from an affiliate of Warburg Pincus for about Rs 3,126 crore. The Warburg Pincus affiliate, Lion Meadow Investment, had acquired 20% equity stake in Bharti Telemedia for Rs 2,310 crore in 2018 after the announcement of deal in December 2017. The transaction will be discharged primarily via issuance of about 3.64 crore equity shares of Airtel at a price of Rs 600 per share and up to Rs 1,037.8 crore in cash. The proposed transaction is part of Airtel’s strategy to align the shareholding of its customer facing products, services and businesses under the same holding group. Further Airtel will issue its shares to the Warburg Pincus affiliate at a premium of 0.50% to the floor price determined as per ICDR regulations. The remaining consideration of Rs 937.8 crore will be paid in cash on the closing date of the proposed transaction. There may also be minor customary closing adjustments not exceeding Rs 100 crore.
- IndiaMART InterMESH: Opened the QIP issue of shares of face value of Rs 10 each on February 17. The floor price in respect of the issue is Rs 9,065.61 per share, which is at a premium of 5.92% of the closing price on Wednesday.
- Dish TV India: The Board of Directors has granted approval to initiate fund-raising through permissible modes and issue of permissible securities, for an amount upto Rs 1,000 crore, in one or more tranches. In this regard, the board has constituted 'Fund Raising Committee' for recommending, taking actions and monitoring in the matters of raising funds.
- Phillips Carbon Black: The company has commissioned two specialty black lines at Palej, in Gujarat for production of wide range of specialty black products totalling about 32,000 MTPA to service the growing needs of its customers.
- Bajaj Electricals: ICRA has revised the long-term rating of the company to A from A- and the short-term rating to A1 from A2+.
- Future Enterprises: Has defaulted on payment of interest of Rs 12.72 crore due on listed NCDs issued by the company.
- Jubilant Foodworks: Appoints Ashish Goenka as CFO from February 17. Goenka was earlier Executive Vice Preident and Group Finance Controller at Bharti Airtel.
- VA Tech Wabag: Has completed the financial closure for its Hybrid Annuity Model project received from Kolkata Metropolitan Development Authority. The company had signed a Rs 575 crore HAM concession agreement under the Namami Gange programme administered by the National Mission for Clean Ganga. The company will execute Engineering, Procurement and Construction portion of this project over 24 months followed by O&M of 15 years. The company has signed an agreement with International Finance Corp. and Tata Cleantech Capital to borrow Rs 176 crore for the project. Further the company has also signed an investment agreement with Kathari Water Management for the Project. As per the agreement, an amount upto about Rs 71 crores will be jointly invested by the company and Kathari Water Management in one or more tranches, by way of shares, Compulsorily Convertible Preference Shares and NCDs.
- Non-Nifty Earnings Today: Ambuja Cements
Pledge Share Details
- Emami: Promoters (Sneha Gardens and Sneha Enclave) revoked pledge of 4 lakh shares on February 12.
- Steel Strips Wheels: Promoters (Dheeraj Garg and DHG Marketing) revoked pledge of 2 lakh shares on February 16.
- Asahi India Glass: Promoter Sanjay Labroo revoked pledge of 6.94 lakh shares on February 15.
- Aurobindo Pharma: Promoter Group (Axis Clinicals, Trident Chemphar and RPR Sons Advisors) created a pledge of 34 lakh shares on February 15.
- JSW Energy: Promoter Indusglobe Multiventures revoked pledge of 2.50 crore shares on February 12.
- Adani Green Energy: Promoter Harmonia Trade and Investment acquired 25 lakh shares on February 16. As Reported On February 17.
- V-Guard Industries: Promoter Chittilappily Thomas Kochouseph sold 40 lakh shares (0.93%) at Rs 225.01 per share.
- TCNS Clothing Co: Nalanda India Equity Fund bought 43.20 lakh shares (7.02%) at Rs 412.31 per share. Fidelity International Discovery Fund sold 17.43 lakh shares (2.83%) at Rs 402 per share. Fidelity Emerging Asia Fund sold 4.46 lakh shares (0.73%) at Rs 402 per share.
- GMM Pfaudler: Chandler And Price I sold 1.33 lakh shares (0.91%) at Rs 3,833.6 per share.
Who’s Meeting Whom
- DCM Shriram: To meet Aditya Birla Sun Life AMC on February 18.
- Crompton Greaves Consumer Electricals: To meet DSP Mutual Fund on February 19.
- Price Band Revised From 20% To 10%: Adani Total Gas, Bank of India, Bank of Maharashtra
- Ex-Date Income Distribution: Embassy Office Parks REIT
- Ex-Date Buyback: Suprajit Engineering
- Ex-Date Interim Dividend: Man Infraconstruction, Centum Electronics, Clariant Chemicals (India), JB Chemicals & Pharmaceuticals, Mahanagar Gas, Seamec, Suprajit Engineering, Vishal Fabrics
- Record Date Interim Dividend: ESAB India, Everest Organics, Garden Reach Shipbuilders & Engineers, Jamna Auto Industries, Suven Pharmaceuticals
- Record Date Rights Issue: Patel Integrated Logistics
- Record Date Income Distribution: Mindspace Business Parks REIT
- Move Into ASM Framework: Adani Transmission, Kirloskar Industries, Adani Total Gas
- Move Into Short-term ASM Framework: HEG, Optiemus Infracom, Yaarii Digital Integrated Services, Jaiprakash Power Ventures
- Move Out Of Short-term ASM Framework: PNC Infratech, Karur Vysya Bank, SKF India, Harita Seating Systems, Kirloskar Industries
- Indo Rama Synthetics (India): Promoter Urmila Lohia sold 3.35 lakh shares on February 15.
- Kotak Mahindra Bank: Promoter Janak Desai sold 5,000 shares on February 16.
- Ultramarine & Pigments: Promoters (S Narayan and Srinath Sridhar) sold 26,045 shares between February 16-17.
- Ashapura Minechem: Promoter Ashapura Industrial Finance acquired 62,000 shares between February 15-16.
- Medicamen Biotech: Promoter Growel Remedies sold 38,500 shares between February 15-16.
- Asian Granito India: Promoter Kamleshbhai Patel acquired 17,000 shares on February 16.
- Man Infraconstruction: Promoter Parag Shah acquired 5 lakh shares on February 16.
- BLS International Services: Promoters (Riya Aggarwal and Shikhar Aggarwal) acquired 1.15 lakh shares between February 15-16. As Reported On February 17.