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Stocks To Watch: Ashok Leyland, Coal India, Dewan Housing Finance, GATI, Glenmark Pharma, ITC, RIL, Sun TV, Vedanta

Here are the stocks to watch in trade today:

A stock broker reacts during market hours in a dealing room in Mumbai, India. (Photographer: Prashanth Vishwanathan/Bloomberg News)
A stock broker reacts during market hours in a dealing room in Mumbai, India. (Photographer: Prashanth Vishwanathan/Bloomberg News)

Asian stocks opened higher after a late rally in U.S. shares, as investors weighed the prospects for additional stimulus against the spike in American virus cases. The dollar edged up. South Korean shares began with a gain of more than 1%, with an advance in Japan and Australia more modest.

Here are the stocks to watch in trade today:

  • Vedanta: Shareholders have approved promoter’s delisting plans of the company with overall 93.34% votes in favour of the motion. Public Institutional shareholders-87.13% of shares voted on 85.30% voted in favour and for Public Non-Institutional Shareholders 32.51% of shares voted on 74.73% voted in favour.
  • CBI has filed charge-sheet against Dewan Housing Finance, Kapil Rajesh Wadhawan, Dheeraj Rajesh Wadhawan, Belief Realtors, RKW Developers, DOIT Urban Ventures, Roshni Kapoor and Rana Kapoor in CBI City Sessions Court, Mumbai on the allegation of fraud against Yes Bank.
  • Apollo Tyres has commissioned its Andhra Pradesh green-field facility. This is seventh facility to be commissioned globally. The company will invest close to Rs 3,800 crore in the Phase I of this green-field facility. While the capacity will be ramped up gradually in the next 12 – 18 months, as the demand improves, by 2022, this plant will have a capacity to produce 15,000 passenger car tyres and 3,000 truck-bus radials per day.
  • Reliance Industries Fitch Ratings has upgraded the company’s long-term local-currency issuer default rating to 'BBB+' from 'BBB'. The outlook is stable. At the same time, the agency has affirmed long-term foreign-currency IDR at 'BBB-' with a stable outlook. The upgrade of the local-currency IDR is driven by expectations of an improvement in company's financial profile, with net debt reductions underpinned by proceeds from a stake sale in its subsidiary, Jio Platforms, and a rights issue, and our forecast of positive free cash flow during the financial year ending March 2021. Agency’s forecast its net debt/EBITDA will fall to 0.6 times in fiscal 2021 from 2.3 times in the last financial year 2020.
  • BHEL, Bharat Bijlee, Voltamp Transformers: India’s renewable energy ministry has proposed a basic customs duty of 25% on solar modules starting July 30 and 40% effective from April 1, 2022, the ministry said. Duty on solar cells has been proposed at 15% from July 30 and 25% from April 2022, the ministry said in response to questions. Import tax on solar inverters should be 20% from July 30 and remain so throughout, according to the ministry’s proposal. Proposals need finance ministry’s approval for coming into effect. (Bloomberg News)
  • Surya Roshni: Board approved expansion programme by installation of second 3LPE coating line at its existing steel pipe unit at Anjar(Gujarat) . With this additional coating Line, the share of high value added pipes shall further increase.
  • Sumitomo Chemical India’s promoter Sumitomo Chemical to sell 49.91 lakh shares (1% equity) via offer for sale, with an option to sell additional 49.91 lakh shares (1% equity) at a floor price of Rs 265 per share, which is at a discount of 10% to closing price as June 25. Trade date for non-retail investors is June 26 and for retail investors it is June 29.
  • IRCTC on Covid-19 impact: First quarter of fiscal 2021 has been adversely effected in the catering business segment. 13 out of 14 Rail Neer plants have started production. Normalization expected in the second half of current financial year.
  • Andhra Papers’ offer-for-sale for non-retail segment received 3.34 times demand at an indicative price of Rs 192.48 per share.
  • Ashok Leyland has allotted NCDs worth Rs 200 crore on a private placement basis.
  • Somany Ceramics Board approved raising Rs 50 crore via NCDs
  • Varroc Engineering: Board approved raising Rs 500 crore via NCDs
  • ABB Power Grids has signed a memorandum of understanding with the National Institute of Technology, Warangal, Telangana, for cooperation to drive smart electric grid technology education, skills development and research activities.
  • Transpek Industry: Board has decided to put the new project to be undertaken by Transpek
  • Creative Chemistry, the wholly-owned arm of the company, on hold in the aftermath of COVID-19 pandemic and the same shall be reviewed when the situation improves. Decision to fund the part of the project cost by the Company by way of equity infusion in the aforesaid arm is also put on hold till further review.
  • Camline Lifesciences: Board approved raising of funds of up to Rs 180 crore from Infinity Holdings and its affiliated entities. Structured as a subscription to equity warrants priced based on the prevailing market price and in accordance with applicable SEBI regulations, the investment will result in an approximately 22.65% ownership stake on a fully diluted basis. The purpose of fund raise would be to consolidate and acquire the entire stake of its joint venture
  • partners in the company’s subsidiaries in Mexico and China as well as to enhance the company’s portfolio in heath & wellness segment by launching new products.
  • PNC Infratech received letter of award from NHAI for HAM project in Uttar Pradesh at a bid cost of Rs 1,412 crore.
  • HFCL: Promoter MN Ventures released pledge of 6.14 crore shares (4.78% equity stake) in favour of Yes Bank on June 25. These shares were pledged by the company with Yes Bank as a collateral security for the performance bank guarantee of Rs.58.36 crore availed by HFCL.
  • SMS Pharma’s promoters withdraw plans to buy 82 lakh shares on an inter-se-transfer basis.

Other Earnings

Ashok Leyland Q4 (Standalone, YoY)

  • Revenue down 56.6% at Rs 3,838.5 crore (Est Rs 3,485 crore)
  • Net loss at Rs 57.3 crore versus Net profit at Rs 653 crore (Est Net loss at Rs 45.5 crore)
  • Ebidta down 81.4% at Rs 183 crore (Est Rs 118 crore)
  • Margins at 4.76% versus 11.1% (Est 3.4%)
  • Exceptional loss of Rs 68.7 crore in current quarter
  • Tax credit reversal of Rs 44.5 crore in current quarter

Apollo Hospitals Q4 (Standalone, YoY)

  • Revenue up 18.7 % at Rs 2,572.2 crore (Est Rs 2,821 crore)
  • Net profit up 2.7 times at Rs 205.6 crore (Est Rs 71 crore )
  • Ebidta up 31.1% at Rs 348.4 crore (Est Rs 259 crore)
  • Margins at 13.5% versus 12.3% (Est 9.1%)
  • Exceptional Gain of Rs 164.4 crore consists of gain in sale of investments in Apollo Health Insurance offset by impairment in Apollo Lavasa Health, increased bottom line numbers
  • Margins impacted due to IND AS 116 Impact
  • Healthcare services revenue up 6% at Rs 1,213.8 crore
  • Pharmacy revenue up 33% at Rs 1,358.5 crore

Earnings Today

  • Coal India
  • ITC
  • GATI
  • Sun TV Network
  • IRCTC
  • Sheela Foam
  • Kajaria Ceramics
  • Glenmark Pharmaceuticals
  • Adhunik Industries
  • APL Apollo Tubes
  • Oil India
  • Apollo Micro Systems
  • NALCO
  • Rupa
  • Aries Agro
  • Bharat Rasayan
  • Borosil Renewables
  • Century Plyboards
  • Emami
  • DCM
  • Excel Industries
  • Federal-Mogul Goetze
  • Gujarat Narmada Valley Fertilizers and Chemicals
  • Hester Biosciences
  • Hind Rectifiers
  • HT Media
  • HUDCO
  • IFCI
  • ITI
  • J.Kumar Infraprojects
  • Nahar Poly Films
  • Nava Bharat Ventures
  • Ramkrishna Forgings
  • Eris Lifesciences
  • Purvankara
  • Ruchi Soya
  • UCO Bank
  • Jay Bharat Maruti

Bulk Deals

  • Mangalam Cement: Promoter Vidula Consultancy acquired 2.5 lakh shares (0.94%) at Rs 190.01 per share and Origin Engineers sold 1.5 lakh shares (0.56%) at Rs 190 per share
  • Tourism Finance Corporation: Dovetail India Fund sold 10.23 lakh shares (1.27%) at Rs 35.5 per share.

Pledged Share Details

  • Eveready Industries promoter Williamson Financial Services invoked pledge of 6.03 lakh shares on June 25
  • Dish TV promoter Direct Media Distribution invoked pledge of 1.12 crore shares on June 23.

(As Reported On June 25)

Who’s Meeting Whom

  • Dixon Tech to meet SBI MF, Amansa and other investors from June 26-July 1
  • Can Fin Homes to meet Invesco, Birla Life and other investors on June 26

Trading Tweaks

  • Price Band Revised From No Band To 20%: Adani Power
  • Price Band Revised From 10% To 5%: Adhunik Industries, Surya Roshni, Texmo Pipes and Products, SPML Infra
  • Price Band Revised From 20% To 10%: 5Paisa Capital, Shree Rama Newsprint, Transformers and Rectifiers, Xpro India
  • Move Into ASM Framework: Infibeam Avenues, Precot Meridian, Xpro India, Ganesh Housing Corporation, Shree Rama Newsprint, Easun Reyrolle, SEL Manufacturing.
  • Move Into Short-Term ASM Framework: Ashiana Housing, Jindal Stainless (Hisar), Asahi Songwon Colors , Suven Life Sciences, Electrosteel Castings, Asian Granito, Future Consumer.
  • Move Out Of Short-Term ASM Framework: Morepen Laboratories, Hi-Tech Pipes, Adroit Infotech

Insider Trades

  • Jamna Auto promoter Map Auto acquired 5 lakh shares from June 22-24
  • Ashiana Housing promoters acquired 1.9 lakh shares on June 11
  • Filatex India promoter Gunjan Bhageria acquired 1.13 lakh shares on June 23
  • Cyient promoter Sucharitha Bodanapu acquired 55,575 shares from June 22-24
  • NIIT Tech promoter Hulst BV sold 12.36 lakh shares on June 22
  • IIFL promoter Ardent Impex sold 2.5 lakh shares on June 25
  • Dixon Tech promoter Geeta Vaswani sold 3,255 shares from June 19-23

(As Reported On June 25)

F&O Cues

  • Nifty July futures closed at 10231, discount of 57
  • Nifty July futures open interest up 54%, adds 40.3 lakh shares in open interest
  • Nifty Bank July futures closed at 21416, discount of 80 points
  • Nifty Bank July futures open interest add 58%, adds 5.2 lakh shares in open interest

Options

  • Nifty PCR at 1.27 versus 1.29 (across all series)

Nifty Monthly Expiry: July 30

  • Max open interest on call side at 11500 (18 lakh shares)
  • Max open interest on put side at 9000 (20 lakh shares)
  • Active options: 10000 Put (+18.6 lakh shares), 11500 Call (+5.5 lakh shares)