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Stocks To Watch: Ashok Leyland, Equitas Holdings, InterGlobe Aviation, Motherson Sumi, Yes Bank

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

Labourers work on an Indiabulls Real Estate  commercial building construction site in the Lower Parel area of Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)
Labourers work on an Indiabulls Real Estate commercial building construction site in the Lower Parel area of Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Stocks and U.S. equity futures climbed after the European Central Bank announced a huge boost in its efforts to stabilize the economy and capital markets, adding to global efforts that have largely underwhelmed investors so far. The euro rose, Japanese shares gained about 2 percent, and S&P 500 futures reversed losses following news of the ECB’s temporary program of asset purchases worth 750 billion euros ($820 billion) to fight the impact of the coronavirus pandemic.

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

  • Promoter Madhu Kapur has sold 2.48 crore shares of Yes Bank at Rs 65.07 per share for Rs 161.4 crore. Her holding stake in the Bank has fallen from 17.28 crore shares to 14.8 crore shares in terms of value and holding declined to 1.18 percent of the paid-up share capital of the bank. The bank announced that its branch operations will open one hour earlier at 08:30 hours from March 19 to 21. It has also extended banking hours across branches for senior citizen customers, from March 19 to March 27, 16:30 hours to 17:30 hours.
  • Reliance Jio got NCLT’s approval to transfer some liabilities to Reliance Industries.
  • InterGlobe Aviation: IndiGo, Vistara may ground jets as virus cases pick up in India. On March 17, Go Air had announced the cancellation of its international flights. (Bloomberg News)
  • Motherson Sumi Systems stated in its conference call that customers in Germany and Spain have been affected as there are shutdowns. Europe is impacted but there is no demand reduction seen and U.S. plants are running normally. Out of the company’s 27 manufacturing facilities in China, only one is not currently working, while the rest have 70 to 80 percent attendance. Indian operations are running smoothly and the company wants to conserve cash and not considering share buyback.
  • Equitas Holdings: Equitas Small Finance Bank IPO has delayed its IPO, since the markets are volatile and it’s not an opportune moment to get listed as stated in the company’s conference call.
  • Ashok Leyland: Board approved a proposal to acquire up to an additional 19 percent stake in its NBFC-arm Hinduja Leyland Finance for Rs 1,200 crore.
  • Srikalahasthi Pipes stated that commercial operation of the company’s second furnace to produce Ferro Silicon has started.
  • Bajaj Finserv: Current CEO and MD Sanjiv Bajaj appointed as the Chairman of the company with effect from March 17.
  • Motilal Oswal Financial Services to consider share buyback on March 21
  • Dalmia Bharat to consider share buyback on March 21
  • INOX India signed a memorandum of understanding with Shell Energy India for the distribution of LNG from Hazira.
  • Orient Refractories to file an appeal against NCLT order which rejected the scheme of amalgamation of the company with RHI India and RHI Clasil.
  • NLC India: The board approved raising up to Rs 5,000 crore via debentures.
  • CESC to be removed from futures and options segment with effect from May 29.
  • IFB Industries has commenced commercial production to manufacture split air-conditioners from its Goa plant with effect from March 17.
  • Alphageo received contact worth Rs 76.67 crore for data services from Oil India.
  • Karur Vysya Bank has announced the launch of its precious metals business.
  • Electrotherm: Central Bank of India initiated insolvency proceedings against the company for Rs 1059.59 crore.
  • VST Tillers Tractors February Update: Power Tillers sales down 9 percent at 1361 units and tractor sales down 3 percent at 564 units.
  • South Indian Bank reduced its base rate from 9.95 percent to 9.85 percent, with effect from March 20.

Bulk Deals

  • Cera Sanitaryware: Nalanda Equity Fund acquired 1.86 lakh shares (1.43 percent) at Rs 2308.47 per share.
  • Shree Cement: SBI Mutual Fund acquired 1.88 lakh shares (0.52 percent) at Rs 19325.67 per share.

Trading Tweaks

  • Yes Bank to be excluded from Nifty 50 Index, Shree Cement to be included.
  • Yes Bank to be excluded from Nifty Bank Index, Bandhan Bank to be included
  • Granules ex-date for share buyback.
  • Future Supply Chain Solutions, Intellect Design Arena, Ramco Systems, SpiceJet, Magma Fincorp, Hindustan Oil Exploration, Future Retail to move into ASM Framework.
  • Indiabulls Ventures, Bajaj Hindusthan Sugar, Tasty Bite Eatables to move out of short term ASM Framework.
  • Jubilant Life Sciences, Majesco, GOCL Corporation, Mastek to move into short term ASM Framework, Nippon Life India Asset Management, Shalby, CreditAccess Grameen, Arvind Fashions, HFCL Surya Roshni, Rain Industries, Nelco, Philips Carbon Black, IFB Agro Industries, Nava Bharat Ventures, Subros, KEI Industries, Praj Industries, Balaji Amines, Strides Pharma, Welspun Enterprises, JBM Auto, IIFL Finance, IDFC, Edelweiss Financial Services, Prestige Estates Projects, Skipper, Minda Corp, Quess Corp, PNB Housing Finance, Jay Bharat Maruti, Shoppers Stop price band revised to 10 percent.
  • Future Retail, Kaya, ITDC, Future Supply Chain Solutions price band revised to 5 percent.

Who’s Meeting Whom

  • MCX to meet Ostrum AMC, Samsung AMC, and Legatum on March 19.
  • Affle (India) to meet Karst Peak Capital on March 19.
  • Mahindra Logistics to meet Infina Finance and Steinberg India Advisors on March 19.

Insider Trading

  • Tata Investment Corporation promoter N. Chandrasekaran acquired 10,000 shares on March 16.
  • Tata Chemicals, Tata Communication: N.Chandrasekaran acquired 1 lakh shares apiece on March 16.
  • Tata Power director N.Chandrasekaran acquired 2 lakh shares on March 16.
  • Bajaj Finance promoter Jamnalal Sons acquired 54,700 shares on March 16.
  • Bajaj Finserv promoter Jamnalal Sons acquired 41,000 shares on March 16.
  • Godrej Industries promoter Anamudi Real Estates LLP acquired 1.8 lakh shares from March 16-17.
  • JSW Steel promoter JTPM Metal Traders acquired 19.4 lakh shares from March 13-17.
  • NCC promoters acquired 1.22 lakh shares from March 13-16.
  • Great Eastern Shipping promoter Ravi Seth acquired 2 lakh shares from March 16-17.
  • Indian Hotels promoter Tata Sons acquired 2 crore shares from March 12-13.
  • Alembic promoter Nirayu acquired 4.27 lakh shares from March 16-17.
  • Nava Bharat Ventures promoters acquired 1 lakh shares on March 16.
  • Jindal Steel & Power promoter OPJ Trading acquired 1.5 lakh shares on March 16.
  • Welspun Enterprises promoter Balkrishna Goenka acquired 4.05 lakh shares on March 13.
  • GMR Infra promoter GMR Enterprises acquired 4.2 lakh shares from March 13-16.
  • Ashoka Buildcon promoter Ashish Ashok Katariya HUF acquired 1.09 lakh shares on March 16.

(As Reported On March 18)

Money Market Update

The rupee ended weaker at Rs 74.26 against the dollar on Wednesday versus Rs 74.21 against the dollar on Tuesday.

F&O Cues

Index Futures

  • Nifty March futures closed at 8433.7, a discount of 35 points.
  • Nifty March futures open interest fell 4 percent, shed 6.9 lakh shares in open interest.
  • Nifty Bank March futures closed at 20,517.9, a discount of 62 points versus 35 points
  • Nifty Bank March futures open interest rose 9 percent, added 1 lakh shares in open interest

Options

  • Nifty PCR at 0.95 versus 1.02 (Across all series)
  • Nifty weekly Expiry March 19
  • Max open interest on call side at 10,000 (17.6 lakh shares)
  • Max open interest on put side at 8100 (7.7 lakh shares)
  • Open interest addition was seen in 9000C (+9.4 lakh shares), 8800C (+7 lakh shares)
  • Open interest shedding was seen in 9000P (-4.9 lakh shares), 8100P (-2 lakh shares)

Nifty Monthly Expiry: March 26

  • Max open interest on call side at 12,000 (21.2 lakh shares)
  • Max open interest on put side at 8.500 (20.2 lakh shares)

Securities In Ban

  • None
Stocks To Watch: Ashok Leyland, Equitas Holdings, InterGlobe Aviation, Motherson Sumi, Yes Bank