Stocks To Watch: Apollo Tyres, Nestle India, ONGC, Yes Bank  

Stocks in Asia rallied after the best session for U.S. stocks in almost a dozen years, with investors rediscovering some appetite for risk as Congress negotiates an emergency-spending bill. U.S. equity futures declined, showing a reluctance to build on Tuesday’s gains. Japan equities opened about 3 percent higher, while Australian and South Korean shares bounced about 5 percent, with Asia-Pacific stocks heading for a second day of gains.

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

• Moody's Investors Service has downgraded the corporate family rating and foreign-currency senior secured rating of Indiabulls Housing Finance Limited to B3 from B2.  The outlook on all ratings remains negative and the downgrade reflects Moody's expectation that the company’s access to funding will remain challenging for longer than expected.
• Moody's Investors Service has downgraded ONGC local and foreign currency issuer ratings to Baa2 from Baa1. The outlook on all ratings remains negative and the downgrade reflects the increasingly uncertain oil price environment, ONGC's depleted cash reserves, and government guidelines that constrain state-owned enterprises' ability to lower dividends.
• Yes Bank: ICRA upgrades various bond programs ratings to ICRA BB+ from Default rating and places the company on rating watch with developing implications.
• India Grid Trust has executed a share purchase agreement for complete acquisition of shareholding and management control in East-North Interconnection Company for an enterprise value of Rs 1020 crore. The Trust has completed the acquisition of its 9th transmission asset and this acquisition has increased the AUM by 10 percent to Rs 12,100 crore.
• Gujarat Alkalies and Chemicals have started commercial production of its anhydrous aluminium chloride plant at Dahej on March 23. The estimated increase in annual revenue of the company from this plant would be about Rs 65 crores. The total capacity of the said plant will be 42,420 tons per annum.
• Ircon International record date for share split (5:1) set as April 7.

Covid-19 Impact

• Apollo Tyres: Suspends operations at plants in Kerala, Gujarat and Tami Nadu till March 31.
• Karnataka Bank has waived charges for transacting on its digital platforms and Bank's ATMs.
• Nestle India: Operations in some locations have been scaled down or suspended. In discussion with the authorities to continue operations in the factories/ distribution centers where the operations have been suspended.
• J.K. Lakshmi Cements said that plant operations at grinding units at Kalol and Surat to remain closed until March 31.
• Prataap Snacks has suspended its operations at plants in Rajkot, Indore, and Guwahati, till further notice.
• V.I.P Industries to close its operations in Nashik and Haridwar till March 31.
• Goa Carbon said that operations at its Bilaspur plant have been shut down from March 24 onwards.

Bulk Deals

• IndusInd Bank: Route One Fund acquired 46.43 lakh shares (0.74 percent) at Rs 328.4 per share
• Tata Motors DVR: Post Office Life Insurance Fund acquired 28.09 lakh shares (0.55 percent) at Rs 30.14 per share
• Thyrocare Technologies: Nalanda India Equity Fund acquired 10.96 lakh shares (2.08 percent) at Rs 498.4 per share and HDFC MF sold 10.14 lakh shares (1.92 percent) at Rs 500 per share
• Indiabulls Housing Finance:  Jasmine Capital Investments sold 28 lakh shares (0.66 percent) at Rs 94.17 per share
• Andhra Sugars: Bajaj Finance sold 4.63 lakh shares (1.71 percent) at Rs 125.69 per share

Trading Tweaks

• GTL Infrastructure, Bharat Road Network, Sterling And Wilson Solar, Zensar Technologies, CESC Ventures, Indo Rama Synthetics, Texmaco Rail & Engineering, Shree Renuka Sugars, Gujarat State Fertilizers & Chemicals, BASF India to move into ASM Framework
• Oriental Carbon & Chemicals, Alembic, Apollo Pipes, Entertainment Network, Kirloskar Ferrous Industries, Hatsun Agro Product, Cyient, Aavas Financiers, Trident, Finolex Industries, Gujarat Fluorochemicals to move into short term ASM Framework
• Dalmia Bharat Sugar and Industries, Dhampur Sugar Mills, Edelweiss Financial Services, Future Enterprises, Future Lifestyle Fashions, GHCL, Graphite India, KEI Industries, Mahindra CIE Automotive, MAS Financial Services, MEP Infrastructure Developers, PNB Housing Finance, Varroc Engineering, VA Tech Wabag, Welspun Enterprises price band revised from 10 percent to 5 percent
• Allcargo Logistics, Bombay Dyeing & Mfg Company, Cyient, Finolex Cables, Federal-Mogul Goetze, GE T&D India, Jindal Saw, Karur Vysya Bank, KIOCL, KRBL, Polycab, Shalimar Paints, Tata Metaliks, Thirumalai Chemicals price band revised from 20 percent to 10 percent

Insider Trading

• Great Eastern Shipping promoter Ravi Seth acquired 1.46 lakh shares on March 20
• Deepak Nitrite promoters acquired 43,500 shares on March 19
• Jamna Auto promoter Map Auto acquired 1.28 lakh shares from March 19-20
• Aurobindo Pharma promoters Kambam Reddy acquired 50,000 shares on March 19

(As Reported On March 24)

Money Market Update

• The rupee ended stronger at Rs 76.07 against the dollar on Tuesday versus Rs 76.28 against the dollar on Monday.

F&O Cues

Index Futures

• Nifty March futures closed at 7,849.9, a premium of 48.9 points versus a discount of 28.6 points
• Nifty futures across series open interest fell 7 percent, shed 12.7 lakh shares in open interest
• Nifty Bank March futures closed at 16,929.7, a discount of 177 points versus 36 points
• Nifty Bank futures across series open interest rose 2 percent, added 22,000 shares in open interest
• Rollover-Nifty 4 percent Nifty Bank 31 percent

Options

• Nifty PCR at 1.08 Vs 1.02 (across all series)

Nifty Monthly Expiry: March 26

• Max open interest on call side at 10,000 (17.2 lakh shares)
• Max open interest on put side at 7000 (16.8 lakh shares)
• Open interest addition seen in 7500P (5.4 lakh shares), 7,000P (4.3 lakh shares)
• Open interest shedding seen in 8100P (-4.9 lakh shares), 8500P (-4.4 lakh shares)

Securities In Ban

In Ban

• Adani Enterprises,
• Jindal Steel & Power
• Just Dial

Out of Ban

• Yes Bank
• Idea
• Indiabulls Housing
• NCC
• Punjab National Bank
• PVR