Stocks To Watch: Ashok Leyland, Eveready, India Cements, NLC India, NMDC, Tata Motors, TVS Motor
Man cycles past CST railway station in Mumbai. (Source: PTI)

Stocks To Watch: Ashok Leyland, Eveready, India Cements, NLC India, NMDC, Tata Motors, TVS Motor

Asian stocks saw modest gains Thursday after positive vaccine developments and U.S. data tempered concern over a jump in coronavirus cases and tensions over Hong Kong. Treasuries and the dollar held losses. Shares edged higher in Japan, Australia and South Korea.

Here are the stocks to watch in trade today:

  • ABB Power Products and Systems: Hitachi and ABB announced the completion of all required procedures as planned, and the formation of Hitachi ABB Power Grids. Hitachi has an 80.1 percent stake in this new joint venture entity and ABB holds the balance. The alliance with Hitachi will facilitate expansion opportunities for the new entity in areas such as mobility, smart cities, industry, energy storage and data centers, besides providing financial muscle to support ambitious projects and enabling access to Japan.
  • Indian Bank has appointed Arun Kumar Bansal as CFO with effect from July 1.
  • India Cements on Covid-19 impact: Operations have resumed in phases from April. Despatches started in lower scale after April 15. Given the current situation and the re-introduction of lockdown in certain parts of Tamil Nadu, it is very difficult to predict how the economic growth will be in the immediate two quarters. Company has availed the first moratorium offered by Reserve Bank of India and has requested its lenders to extend the second moratorium.
  • Dixon Tech enters new line of business to manufacture set top boxes. Total investment will be Rs 40—50 lakh and company expects a revenue of Rs 100-150 crore in fiscal 2021.
  • Eveready Industries stated that company's core categories of batteries and flashlights, however, are witnessing a healthy demand, given the sharp decrease in dumped imports from China and the disruptions caused to the unorganized market for non-availability of supplies. The situation in the battery segment is likely to improve further once full effect of implementation of the BIS standards comes into force. Board has named existing vice-chairman Aditya Khaitan as the chairman of the company.
  • Polycab has incorporated a wholly owned arm in Australia
  • NMDC sets lump iron ore prices at Rs 2,450 per ton and iron ore fines at Rs 2,160 per ton with effect from June 30. June sales of iron ore down 7% at 2.48 million tons.
  • CARE Ratings has revised the outlook to 'Stable' and removed the 'Credit watch with Negative Implication' on the long/short term bank facilities and debt instruments of JSW Energy. Credit rating of the company stands at 'CARE AA-;Stable/ CARE A1+'.
  • A boiler exploded at NLC India's thermal plant here killing six people and leaving 17 others injured on July 1 and it has been shut for safety audit. (Press Trust of India)
  • IIFL Finance have filed the draft shelf prospectus to raise NCDs worth Rs 5,000 crore from the public.
  • Coal India June update: Coal production down 12.8% at 39.2 million tons and coal offtake down 15% at 41.61 million tons

June Auto Sales

  • TVS Motor total sales at 198,387 units. Two wheeler sales at 191,076 units and exports at 53,123 units. Expects to overcome supply chain constraints in July
  • Tata Motors domestic sales at 23,845 units. Commercial vehicles sales at 10,476 units and passenger vehicles sales at 14,571 units
  • Ashok Leyland total sales at 2,394 units and domestic sales at 2,132 units

Other Earnings

Eveready Industries Q4 (Consolidated,YoY)

  • Revenue down 32.4% at Rs 224.1 crore
  • Net profit up 13 times at Rs 63.1 crore
  • Ebidta up 2.1 times at Rs 28.4 crore
  • Margins at 12.7% versus 4.04%
  • Margins improve due to lower other expenses, employee costs and raw material costs
  • Exceptional gain of Rs 62 crore on profit on sale of Hyderabad land impact bottomline
  • Raw material costs as % of sales at 55.7% versus 67.5%
  • Gross margins at 40.9% versus 34.1%
  • Segments of lighting and appliances were adversely impacted.
  • Discontinuance of the packet tea segment decreased turnover by Rs 40.4 crore
  • Covid-19 impact of revenue was Rs 60 crore in current quarter

Earnings Today

  • Maharashtra Seamless

Pledged Share Details

  • Dish TV promoter Direct Media Distribution Ventures invoked pledge of 1.66 crore shares on April 13
  • Eveready Industries promoter Williamson Magor invoked pledge of 32 lakh shares on March 6
  • Asian Paints promoters released pledge of 27 lakh shares from June 26-29

(As Reported On July 1)

Bulk Deals

  • Anup Engineering: HDFC MF acquired 83,513 shares (0.82%) at Rs 380.1 per share
  • Somany Ceramics: Aditya Birla Sun Life Insurance sold 2.27 lakh shares (0.54%) at Rs 117.8 per share

Who’s Meeting Whom

  • Prince Pipes and Fittings to meet Phillip Capital on July 2
  • Mahanagar Gas to meet Vontobel AMC on July 6

Trading Tweaks

  • Ex-Date for Share Buyback: Amrit Corp, Balrampur Chini Mills, Just Dial.
  • Ex-Date for Stock Split: Karda Construction (from Rs 10 to Rs 2).
  • Price Band Revised From 10% To 5%: Genus Paper & Boards, Tijaria Polypipes, Tijaria Polypipes, Xpro India.
  • Move Into ASM Framework: Neuland Laboratories, Genesys International Corporation.
  • Move Into Short-Term ASM Framework: Gallantt Ispat, Omaxe, Shankara Building Products.
  • Move Out Of Short-Term ASM Framework: Williamson Magor, Oswal Agro Mills, Suven Pharmaceuticals, Godrej Industries, Orient Beverages.

Insider Trades

  • Cyient promoters acquired 2.64 lakh shares from June 26-29
  • Adani Ports and SEZ promoter Flourishing Trade acquired 7.2 lakh shares on June 30
  • Dr Lal Pathlabs promoter Dr Vandana Lal sold 57,584 shares from June 29-30
  • Quess Corp promoter Ajit Isaac acquired 90,000 shares on June 30
  • PSP Projects promoter Prahladbhai Patel acquired 60,000 shares from June 26-30

(As Reported On July 1)

F&O Cues

  • Nifty July futures closed at 10408, discount of 22 points versus discount of 60 points
  • Nifty July futures open interest down 6.7%, sheds 7.7 lakh shares in open interest
  • Nifty Bank July futures closed at 21930, discount of 48 points versus discount of 156 points
  • Nifty Bank July futures open interest up 7.7%, adds 97,000 shares in open interest

Options

  • Nifty PCR at 1.43 versus 1.2 (across all series)

Nifty Monthly Expiry: July 2

  • Max open interest on call side at 10600 (5.6 lakh shares)
  • Max open interest on put side at 10300 (16.7 lakh shares)
  • Active options: 10100 Put (+-8.5 lakh shares), 10400 Call (+10.2 lakh shares)

Nifty Monthly Expiry: July 30

  • Max open interest on call side at 11000 (20.5 lakh shares)
  • Max open interest on put side at 10000 (27.3 lakh shares)

Securities In Ban

  • Idea
  • Glenmark
Stocks To Watch: Ashok Leyland, Eveready, India Cements, NLC India, NMDC, Tata Motors, TVS Motor
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