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Stocks To Watch: Ashok Leyland, Delta Corp, HEG, GAIL, India Cements, Indian Oil, InterGlobe Aviation

Stocks in the news, big brokerage calls of the day, complete trade setup and much more! 

A man holds cups of tea in Varanasi, Uttar Pradesh, India. (Photographer: Dhiraj Singh/Bloomberg)  
A man holds cups of tea in Varanasi, Uttar Pradesh, India. (Photographer: Dhiraj Singh/Bloomberg)  

Asian stocks opened mixed on Thursday, following the first back-to-back gains for global equities since mid-February, as negotiations in Congress continued toward a vote on the U.S. stimulus bill later this week. Japanese shares opened more than 2 percent lower amid further efforts to contain the movement of people. South Korean and Australian shares had modest gains.

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

  • Delta Corp to consider share buyback on March 28.
  • REC: Board approved increasing the market borrowing program by Rs 4,000 crore to Rs 94,000 crore for the financial year 2020. The corporation seeks to raise Rs 2,500 crore via capital gains tax exemption bonds.
  • NTPC said that the second Unit of 660 MW of Khargone Super Thermal Power Project has been added to Installed Capacity of NTPC on successful completion of trial operation. Total installed capacity at the group level stands at 58816 MW.
  • Shankara Building Products: CRISIL has downgraded the rating on bank facilities to CRISIL BBB+ with a stable outlook from CRISIL A- with a negative outlook. The downgrade reflects the moderation in the group’s overall business risk profile marked by continued suppressed return on capital employed -levels and working capital intensity.
  • Ashok Leyland: ICRA downgraded long term rating to ICRA AA- from ICRA AA+, outlook revised from stable. The rating action considers the expected deterioration in Ashok Leyland's financial risk profile over the medium term with the longer than expected slowdown in the domestic commercial vehicle industry and increasing investment outlay in group entities.

Covid-19 Impact

  • HEG to suspend its operations for Madhya Pradesh plant with immediate effect.
  • Dhanuka Agritech has shut down all of its three plants at Gujarat, Jammu and Kashmir, and Rajasthan.
  • Endurance Technologies to suspend all plant operations in India until the next 21 days, or period notified by authorities. The company also stated in the press release that its Italian arm will suspend its operations till April 3, and the German arm will also scale down its level of operation.
  • P&G Health said that it anticipates disruptions in operations to continue for a period of the next 3 weeks at minimum.
  • Gail issues force majeure notice on prompt LNG shipments. (Bloomberg News)
  • Indian Oil has regulated crude oil throughput at most of its refineries by 25 percent to 30 percent. Upliftment of finished products from them in the last one week has helped upcountry bulk storage locations of the Corporation build up their stocks for future-readiness once the countrywide lockdown is lifted and the demand picks up again. The company said that demand for petroleum products has fallen sharply and aviation turbine fuel has also been impacted due to the suspension of flights. The corporation is taking steps to increase LPG production in major refineries.
  • Indonesian arm of TVS Motor’s one plant to resume operations from March 26.
  • InterGlobe Aviation said the company’s international and domestic flights will continue to remain under lockdown until April 14. Ministry of Civil Aviation had directed operations of all domestic flights to cease until the end of March 31.
  • Syngene International to temporarily suspend part of its research activities at its facilities situated at Bangalore SEZ and Hyderabad for a period of 21 days starting from March 25. Company to continue to carry out operations for essential services, development, and manufacturing activities at the above facilities.
  • Petronet LNG declares force majeure on LNG cargoes from Qatar for March delivery. (Bloomberg News).

Bulk Deals

  • India Cements: Radhakishan Damani acquired 16 lakh shares (0.52 percent) at Rs 94.97 per share.
  • Seamec: Promoter Sanjeev Agrawal acquired 1.74 lakh shares (0.68 percent) at Rs 205 per share and Algomind Capital Fund sold 1.75 lakh shares (0.69 percent) at Rs 205.08 per share.
  • IndusInd Bank: Europacific Growth Fund sold 35.76 lakh shares (0.57 percent) at Rs 298.83 per share.
  • Thyrocare Technologies: Nalanda Fund acquired 17.7 lakh shares (3.35 percent) at Rs 499.97 per share and Aditya Birla Sun Life MF sold 17.7 lakh shares (3.35 percent at Rs 500 per share.
  • Thirumalai Chemicals: Aditya Birla Finance sold 8.54 lakh shares (0.83 percent) at Rs 32.34 per share.

Who’s Meeting Whom

  • Shriram City Union Finance to meet Somerset Capital Management on March 26
  • Polycab to meet T.Rowe Price and Kotak MF on March 26
  • Eicher Motors to meet SBI Life Insurance and Capital World Investors from March 26-27

Trading Tweaks

  • Sharda Motors ex-date for demerger
  • Arvind Fashions, Gujarat Fluorochemicals, Indo Count Industries, Edelweiss Financial Services, Varroc Engineering, Himatsingka Seide, Future Lifestyle Fashions, Somany Ceramics, Den Networks, Quess Corp, Dalmia Bharat Sugar and Industries, Entertainment Network (India), CARE Ratings, Karur Vysya Bank, Alembic, Sobha, Raymond, Anant Raj, Ramkrishna Forgings to move into ASM Framework.
  • PSP Projects, Finolex Cables, PNC Infratech, KRBL, Sunteck Realty, Allcargo Logistics, DCB Bank, Lemon Tree Hotels, Tube Investments of India, Repco Home Finance, Tube Investments of India to move into short term ASM framework.
  • AU Small Finance Bank, CreditAccess Grameen, IDFC, IIFL Finance, KPIT Technologies, Repco Home Finance price band revised from 10 percent to 5 percent.
  • Astra Microwave Products, GATI, JK Tyre & Industries, KEC International, Mahindra Lifespace Developers, Mahindra Logistics, Symphony price band revised from 20 percent to 10 percent.

Insider Trading

  • Transport Corporation of India promoter Bhoruka Supply Chain Solutions acquired 10,000 shares on March 23
  • Century Plyboards promoters acquired 64,000 shares from March 23-24

(As Reported On March 25)

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. (Currency market was closed on Wednesday, March 25)

F&O Cues

Index Futures

  • Nifty March futures closed at 8362, a premium of 44 points versus 48.9 points
  • Nifty futures across series open interest up 6 percent, adds 9.3 lakh shares in open interest
  • Nifty Bank March futures closed at 18,487, a premium of 6 points versus a discount of 177 points
  • Nifty Bank futures across series open interest up 2.5 percent, adds 34,000 shares in open interest
  • Rollover-Nifty 50 percent, Nifty Bank 40 percent

Options

  • Nifty PCR at 1.22 versus 1.08 (across all series)

Nifty Monthly Expiry: March 26

  • Max open interest on call side at 9,000 (19.8 lakh shares)
  • Max open interest on put side at 7000 (21.7 lakh shares)
  • Open interest addition seen in 7000P (4.9 lakh shares), 8,000P (4.2 lakh shares)
  • Open interest shedding seen in 8000C (-4.9 lakh shares), 10,000C (-4.6 lakh shares)

Securities In Ban

In Ban:

  • Jindal Steel & Power

Out of Ban:

  • Adani Enterprises
  • Just Dial
Stocks To Watch: Ashok Leyland, Delta Corp, HEG, GAIL, India Cements, Indian Oil, InterGlobe Aviation