Stocks To Watch: Apollo Hospitals, Future Retail, ICICI Bank, Indiabulls Housing Finance, ITI, PVR, Raymond, Sun Pharma, Vedanta
Pedestrians look up at an electronic screen and a digital ticker board at the Bombay Stock Exchange (BSE) building in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Stocks To Watch: Apollo Hospitals, Future Retail, ICICI Bank, Indiabulls Housing Finance, ITI, PVR, Raymond, Sun Pharma, Vedanta

Indian equity markets gave up gains to end lower, after a sell-off in banking stocks offset the gains made by technology majors through the session. The S&P BSE Sensex ended 0.25% lower at 38,756 while the NSE Nifty 50 index fell 0.2% to 11,440, at the close of trade.

Here are the stocks to watch in trade today:

  • Sun Pharma: Orexo AB has started patent infringement litigation versus Sun Pharma. The lawsuit was filed in response to an abbreviated new drug application (ANDA) filed by Sun Pharma with the U.S. FDA. In its ANDA, the company seeks to market and sell generic versions of Orexo's ZUBSOLV products, (buprenorphine and naloxone) sublingual tablets (CIII), in the US prior to expiration of the patents listed in U.S. FDA's Orange Book. The aforementioned drug is used for the treatment of opioid use disorder. (Bloomberg News)
  • ICICI Bank: RBI has exempted the Bank, from the Banking Regulation Act, 1949 with respect to shareholding above 30% in ICICI Lombard General Insurance and ICICI Prudential Life Insurance, for a period of three years Sept. 2023. The exemption during its operation may permit both ICICI Lombard General Insurance Company and/or ICICI Prudential Life Insurance Company to consider strategic options such as mergers and acquisitions or capital raise which have the potential of reducing the Bank’s shareholding. There are no current plans for the Bank to divest to less than 50.0% shareholding in ICICI Prudential Life Insurance Company. There would be no impact on the current distribution arrangements. Above exemption would facilitate compliance with rules if there is proposed acquisition of another general insurance business made by ICICI Lombard General Insurance, which is consummated would result in ICICI Bank’s shareholding in ICICI Lombard General Insurance reducing to less than 50%.
  • Indiabulls Housing Finance: Board approved the closure of QIP issue and approved the issue price at Rs 196.37 per share aggregating to Rs 682.87 crore. The issue price is at a discount of 5% to the floor price. Company has sold partial stake on Oak North for Rs 522 crore to private equity investors during the last one week.
  • Axis Bank: Executive director (retail banking) Pralay Mondal has resigned with effect from Sept.14.
  • Central Bank of India has reduced MCLR by 5 basis points across various tenors with effect from Sept.15. One year MCLR at 7.10% and one month MCLR at 6.55%.
  • Mindspace Business Parks REIT to raise up to Rs 500 crore via NCDs.
  • Motherson Sumi Systems allotted NCDs worth Rs 2,130 crore on a private placement basis.
  • G.E. Shipping has signed a contract to buy a second-hand very large gas carrier. The Japanese built vessel is expected to join the company’s fleet in the third quarter of fiscal 2021.
  • Gujarat Gas: Care Ratings upgraded long term and short term bank facilities worth Rs 2,000 crore to Care AA+ from Care AA, with outlook remaining stable.
  • Max Healthcare Institute: Promoters Analjit Singh and Max Ventures Investment Holdings reduced their stake from 7.04% to 1.89% on Sept.11.
  • Take Solutions has initiated the liquidation process of its German arm due to Covid-19 impact.

Other Earnings

PVR Q1 (Consolidated, YoY)

  • Revenue down 98.6% at Rs 12.7 crore (Est Rs 16.7 crore)
  • Net loss at Rs 225.6 crore versus Net profit at Rs 17.6 crore (Est Net loss at Rs 210 crore
  • Ebidta loss at Rs 115.9 crore versus Ebidta gain at Rs 278.6 crore (Est Ebidta loss at Rs 105 crore)
  • Higher other income seen due to recognition of rent concessions worth Rs 29.8 crore as per IND AS-116 and the company invoking force majeure clause in various lease agreements for its cinema properties
  • Deferred tax reversal of Rs 116 crore in current quarter

Apollo Hospitals Enterprise Q1 (Consolidated, YoY)

  • Revenue down 15.6% at Rs 2,171.5 crore (Est Rs 2,151 crore)
  • Net loss at Rs 208.2 crore versus Net profit at Rs 57.2 crore (Est Net loss at Rs 245 crore)
  • Ebidta down 90.2% at Rs 35.5 crore (Est Ebidta loss at Rs 22.5 crore)
  • Margins at 1.6% versus 14.1%
  • Strong performance seen in pharmacy segment

Raymond Q1 (Consolidated, YoY)

  • Revenue down 88.6% at Rs 163.2 crore
  • Net loss at Rs 242.2 crore versus Net loss at Rs 14.9 crore
  • Ebitda loss at Rs 225 crore versus Ebidta gain at Rs 99.5 crore

ITI Q1 (Consolidated, YoY)

  • Revenue up 2.48% at Rs 165 crore
  • Net loss at Rs 102.3 crore versus Net loss at Rs 61 crore
  • Ebidta loss at Rs 59.9 crore versus Ebidta loss at Rs 27.6 crore

Future Retail Q1 (Consolidated, YoY)

  • Revenue down 73.9% at Rs 1,358.1 crore
  • Net loss at Rs 562 crore versus Net profit at Rs 159.2 crore
  • Ebidta loss at Rs 150.3 crore versus Ebidta gain at Rs 646.8 crore

JB Chemicals & Pharmaceuticals Q1 (Consolidated, YoY)

  • Revenue up 19.2% at Rs 489.6 crore
  • Net profit up 2.1 times at Rs 121.9 crore
  • Ebidta up 71.5% at Rs 158.1 crore
  • Margins at 32.3% versus 22.4%
  • Bottom line improves due to higher revenue, higher other revenue and lower other expenses

Earnings Today

  • Vedanta
  • Allcargo Logistics
  • Andhra Cements
  • Future Enterprises
  • Gyscoal Alloys
  • Hubtown
  • ITD Cementation
  • Jain Irrigation Systems
  • Kalyani Forge
  • MTNL
  • Manpasand Beverages
  • Max India
  • MEP Infrastructure Developers
  • National Fertilizers
  • Procter & Gamble Health
  • Sterling And Wilson Solar
  • TCI Finance
  • VA Tech Wabag
  • Zee Media Corporation

Pledged Share Details

  • Hubtown promoter Falguni Shah invoked pledge of 20 lakh shares on Sept.11
  • Manappuram Finance promoter V.P. Nandkumar released pledge of 27 lakh shares on Sept.11
  • Emami promoter Bhanu Vyapar created pledge of 27.9 lakh shares from Sept.19-14
  • Future Retail promoter Future Corporate Resources invoked pledge of 3 crore shares on Sept.10
  • Max Healthcare Institute promoter Max Venture Investment released pledge of 24 lakh shares from Sept.9-10

(As Reported On Sept.14)

Who’s Meeting Whom

  • Shriram City Union Finance to meet Motilal Oswal on Sept.15
  • Tata Steel to meet IIFL Securities on Sept.16
  • India Energy Exchange to meet Canara Robeco, UTI MF and other investors from Sept.15-22
  • IIFL Finance to meet Bank of America Securities on Sept.15
  • Mahindra Holidays & Resorts to meet Enam AMC on Sept.15
  • Hindalco to meet Autonomy Capital Research, Wells Capital Management and other investors from Sept.15-16.
  • Syngene to meet Purnartha Investment Advisors and Champlain Investment Partners from Sept.15-16

Bulk Deals

  • ADF Foods: Ashish Ramchandra Kacholia acquired 1.49 lakh shares (0.74%) at Rs 377.99 per share.
  • BASF: Plutus Wealth Management acquired 3.1 lakh shares (0.72%) at Rs 1,545.83 per share.
  • BSE: Acacia Group acquired 12 lakh shares (2.67%) at Rs 549 per share and Deutsche Borse Group sold 12 lakh shares (2.67%) at Rs 549 per share.
  • Tata Elxsi: William Blair International Growth Fund acquired 3.12 lakh shares (0.50%) at Rs 1,304 per share.
  • Oswal Greentech: Clareville Capital Opportunities Master Fund sold 43.37 lakh shares (1.69%) at Rs 11.95 per share.
  • Greenply Industries: Jwalamukhi Investment Holdings sold 7.13 lakh shares (0.58%) at Rs 90.5 per share.
  • Satin Creditcare Network: Kora Investments sold 22.3 lakh shares (4.29%) at Rs 64.18 per share.

Trading Tweaks

  • AGM Date: Goa Carbon, ITD Cementation, DLF, Welspun India, Khadim, Bharat Electronics.
  • Fund Raising: Puravankara.
  • Price Band Revision From 5% To 10%: GTL.
  • Move Into ASM Framework: Panache Innovations, Alfa Transformers, Timex Group.
  • Move Into Short Term ASM Framework: Blue Dart Express, Forbes & Company, Genus Prime Infra, Shree Rama Multi-Tech.
  • Move Out Of Short Term ASM Framework: Aurionpro Solutions, Dilip Buildcon, Jiya Eco-Products, Kabra Extrusiontechnik.

Insider Trades

  • Action Construction Equipment promoter Vijay Agarwal acquired 76,801 shares from Sept.10-11
  • Mindtree promoters sold 4.35 lakh shares from Sept.9-14
  • Man Infra promoter Manan Shah promoter acquired 2 lakh shares on Sept.11

(As Reported On Sept.14)

F&O Cues

  • Nifty September futures closed at 11,434; discount of 6 points vs premium of 3 points
  • Nifty September futures Open Interest up 4%, adds 4.5lakh shares in Open Interest
  • Nifty Bank September futures closed at 22154; premium of 53 points vs premium of 95 points
  • Nifty Bank September futures Open Interest up 18%, adds 2.6lakh shares in Open Interest

Options

  • Nifty PCR at 1.37

Nifty Monthly Expiry: Sept 17

  • Max Open Interest on call side at 11,500 (26.2 lakh shares)
  • Max Open Interest on put side at 11,000 (20.6 lakh shares)
  • Active options: 11,000 Put (4.2 lakh shares), 11,550 Call (10.4 lakh shares)

Nifty Monthly Expiry: Sept 24

  • Max Open Interest on call side at 11,500 (22 lakh shares)
  • Max Open Interest on put side at 11,000 (26.4 lakh shares)
Stocks To Watch: Apollo Hospitals, Future Retail, ICICI Bank, Indiabulls Housing Finance, ITI, PVR, Raymond, Sun Pharma, Vedanta
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