Stocks To Watch: Asian Paints, Berger Paints, BPCL, GAIL, IOC, NTPC, Oil India, Power Grid

Asian stocks opened higher on Tuesday after technology shares lifted U.S. benchmarks, with investors betting in particular on those companies that will better weather a patchy economic recovery. Benchmarks rose in Tokyo, Sydney and Seoul, while futures in Hong Kong pointed higher.

The Nasdaq 100 jumped more than 1% and the Nasdaq Composite capped a seventh straight advance in its longest rally of the year.

Here are the stocks to watch in trade today:

• Fitch Ratings has revised the outlook on the long-term issuer default ratings of IOC, BPCL, Oil India, GAIL, Power Grid and NTPC to negative from stable. The entities' long-term IDRs are affirmed at 'BBB-'. The rating action follows the revision of the outlook on India's 'BBB-' sovereign rating to negative from stable on June 18.
• Alkem Laboratories: Board approved closure of operations of its manufacturing facility at Betalactum block at Daman. The facility contributed 0.8 percent of the total turnover and mainly catered to international market and was significantly under-utilized.
• HDFC AMC said that it is now compliant with minimum public share-holding norms as per SEBI, after sale via offer for sale by promoter Standard Life Investments. Promoters currently hold 73.97% stake in the company.
• Jtekt to introduce constant velocity joint product in Driveline segment.
• 8K Miles Software Services launched technology and consultancy services to providers, payers and life science companies across North America.
• Satin Creditcare Network approved raising Rs 120 crore via rights issue.
• UTI AMC received SEBI nod for Rs 3,000 crore IPO.
• Omaxe to consider raising funds on June 29.
• Aditya Birla Fashion and Retail to consider terms of proposed rights issue of Rs 1,000 crore on June 25.
• PNC Infratech said that the company and its partner Cube Highways will not extend the share purchase agreement for 35% stake sale of their venture of four laning toll project in Uttar Pradesh.
• Texas Networks: ICRA has downgraded, the long term rating from ICRA A to ICRA A- and the short term rating from ICRA A1 to ICRA A2+, for line of credit of Rs 559.9 crore. The outlook on the long-term rating is stable.

Other Earnings

Sudarshan Chemicals Q4 (Consolidated, YoY)

• Revenue up 4.5% at Rs 449.1 crore (Est Rs 385 crore)
• Net profit up 5.8% at Rs 27.3 crore (Est Rs 24 crore)
• Ebidta down 17.6% at Rs 53.9 crore (Est Rs 56 crore)
• Margins at 12% versus 15.2% (Est 14.5%)
• Margins impacted due to higher other expenses
• Profits impacted by higher taxes in the base quarter
• Other expenses includes forex loss of Rs 6.24 crore in current quarter
• Pigments segment revenue down 1% at Rs 402.2 crore
• Other segment revenue up 83% at Rs 46.9 crore

Earnings Today

• Asian Paints
• Page Industries
• Union Bank of India
• Berger Paints
• AGC Networks
• Alkyl Amines Chemicals
• Asahi Songwon Colors
• Aster DM Healthcare
• Balrampur Chini Mills
• Bank of Baroda
• D B Corp
• Fairchem Speciality
• Finolex Industries
• G.M.BREWERIES
• Hatsun Agro Product
• Johnson Controls - Hitachi Air Conditioning
• Kolte - Patil Developers
• Man Industries
• NLC India
• PG Electroplast
• Phillips Carbon Black
• Somany Home Innovation
• Talbros Engineering
• Vardhman Textiles
• Indian Bank
• Sterling & Wilson Solar

Bulk Deals

• ICICI Pru Life Insurance: Government of Singapore acquired 1.64 crore shares (1.14%) at Rs 391.6 per share and promoter ICICI Bank sold 2.15 crore shares (1.5%) at Rs 391.6 per share
• Glenmark Pharma: HSBC Pooled Investment Fund sold 18.8 lakh shares (0.67%) at Rs 527.77 per shares
• Indostar Capital Finance: Edelweiss Mutual Fund acquired 22.65 lakh shares (2.45%) at Rs 285 per share and Mission Street sold 22.65 lakh shares (2.45%) at Rs 285 per share

Pledged Share Details

• Deepak Fertilizers & Petrochem promoters created pledge of 3.53 crore share on October 2019.

(As Reported On June 22)

Who’s Meeting Whom

• Rico Auto Industries to meet Nirmal Bang on June 23
• Affle India to meet ICICI Pru MF and Neuberger Berman from June 23-24
• India Energy Exchange to meet IIFL AMC, Franklin Templeton and other investors from June 23-25.
• CG Consumer Electricals to meet Falcon Edge Capital on June 25
• Shriram City Union Finance to meet Hara Global, Fidelity International and Matthews Asia from June 23-26
• Amber Enterprises to meet Axis Capital on June 23

Trading Tweaks

• Price Band Revised From 10% To 5%: Century Extrusions, HPL Electric & Power, Nahar Poly Films, Premier Explosives, Reliance Infrastructure, Veto Switchgears And Cables.
• Price Band Revised From 20% To 10%: Dhanlaxmi Bank, Suven Pharmaceuticals, Zee Learn
• Move Into ASM Framework: Birla Cable, Adlabs Entertainment, Kisan Mouldings, Jayant Agro Organics, Kwality, Sanwaria Consumer, Reliance Naval & Engineering, Jaypee Infratech, Ballarpur Industries.
• Move Into Short-Term ASM Framework: Inox Wind, Usha Martin Indian Terrain Fashions , Paisalo Digital ,Genus Power Infrastructures, Capacit'e Infraprojects, Muthoot Capital Services, Orient Cement
• Move Out Of Short-Term ASM Framework: Ashapura Minechem, HLE Glascoat, Panacea Biotec, Ramco Systems, Shriram EPC

Insider Trades

• Nesco promoter Patel Consultancy acquired 9,500 shares on June 18
• IOL Chemicals and Pharma promoter NCVI Enterprises acquired 14.18 lakh shares from June 8-17
• Mangalore Chemicals and Fertilizers promoter Adventz Finance acquired 16.15 lakh from June 17-18
• IndusInd Bank promoter IndusInd International Holdings acquired 1.39 lakh shares from June 18-19

(As Reported On June 22)

F&O Cues

• Nifty June futures closed at 10288, discount of 9 points versus discount of 16 points
• Nifty June futures open interest down 10%, sheds 9,200 shares in open interest
• Nifty Rollovers at 27%
• Nifty Bank June futures closed at 21697, discount of 11 points discount of 62 points
• Nifty Bank June futures open interest down 1.6%, sheds 2.1 lakh shares in open interest
• Nifty Bank rollovers at 14.4%
• India VIX up 2.7% at 30.5

Options

• Nifty PCR at 1.53 versus 1.56 (across all series)

Nifty Monthly Expiry: June 25

• Max open interest on call side at 10500 (35.8 lakh shares)
• Max open interest on put side at 10000 (46.2 lakh shares)
• Active options: 10100 Put (+12.4 lakh shares), 10500 Call (+6.2 lakh shares)

Securities In Ban

• In Ban: Century Textiles, Escorts, Idea, JSPL, NCC
• New In Ban: Century Textiles, Idea
• Out of Ban: Adani Enterprises, BHEL, Just Dial, PNB, SAIL