Stocks To Watch: Avenue Supermarts, Dabur, InterGlobe Aviation, RIL, SBI, SpiceJet, United Spirits  

Asian stocks and U.S. futures climbed in early trading Tuesday after global equities hit their lowest level since 2016. The dollar slipped against major peers. Benchmarks were at least 2 percent higher in Tokyo, Seoul and Sydney after a massive further wave of initiatives from the Federal Reserve helped ease some measures of corporate credit risk.

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

• Hindustan Unilever has signed an agreement with Glenmark Pharma to acquire intimate hygiene brand VWash. Under this agreement, the brand and other trademarks, copyrights, know-how associated with Glenmark’s VWash business will be transferred to the company.
• Yes Bank to consider raising funds on March 26.
• NBFC Stocks: RBI to classify loans to NBFCs for on-lending purposes as priority sector lending. The banks are to classify loans to be extended to NBFCs in FY21 under the priority sector category.
• Gujarat Narmada Valley Fertilizers and Chemicals said that its TDI-II plant at Dahej has resumed its normal production after the completion of scheduled maintenance.
• IndusInd Bank: Ramesh Sobti has demitted the office of managing director and CEO of the Bank from March 23, in line with tenure approved by RBI.

Covid-19 Impact

• National Stock Exchange defers index rebalancing across various equity indices, which was subject to be effective from March 27 onwards. To continue to monitor market conditions and announce the revised date for index rebalancing by providing two weeks notice.
• Avenue Supermarts said some stores have remained closed for operation on certain days based on a directive by local authorities. Currently, the company is only selling daily use essential items such as grocery and FMCG products at all stores. The company continues to receive a regular supply of goods from all of its suppliers and distributors.
• State Bank of India to commit 0.25 percent of its annual profit (FY-21) to fight the Covid-19 outbreak situation in India. The fund used to fight the Covid-19 pandemic will be spent from corporate social responsibility funds.
• United Spirits to produce 300,000 liters of bulk hand sanitizers across 15 manufacturing units for use by public healthcare workers. The company will also produce 500,000 liters extra neutral alcohol to the sanitizer industry to enable the production of more than two million units (250 ml each) of hand sanitizers.
• Dabur to suspend production at manufacturing units till March 31, except for essential products like Ayurvedic medicines, Chyawanprash, hand sanitizers, hand wash, etc.
• Aviation Stocks: Operations of domestic schedule commercial airlines shall cease operations with effect from the midnight of March 24. The restrictions shall not apply to cargo-carrying flights. The domestic flight ban is effective until midnight of March 31.
• Maruti Suzuki India’s arm Suzuki Motor Gujarat to close plant operations till March 25. The arm manufactures cars on a contract basis for Maruti Suzuki.
• Bajaj Auto to close down its operations at Akurdi plant from March 23 till further notice.
• Reliance Industries sets up 100 bed-center at Seven Hills Hospital, Mumbai for patients who test positive for Covid-19. Sir H. N. Reliance Foundation Hospital has also offered to set up special medical facilities to quarantine travellers from notified countries and suspected cases identified through contact tracing.
• Embassy Office Parks REIT, IRB Invit Fund: SEBI notified temporary relaxations in compliance requirements for REITs and InvITs. The due date of March 31 for regulatory filings and compliances for REITs and InvITs extended by a month.
• JK Lakshmi Cement said that operation at plants based out of Rajasthan and Haryana will be shut till March 31, for Gujrat till March 25 and for Odisha till March 29.
• TCS arm to offer free access to its virtual learning platform to educational institutes across the country.
• Munjal Auto Industries to close its manufacturing plants in Vadodara till March 25. Plants in Haryana and Haridwar will be closed till March 31.
• Wabco India’s all sites and plants will be closed till March 28
• SRF has closed operations of its headquarters in Gurugram and chemical business plant in Bhiwadi from March 23-31.
• Thermax has suspended production at its six facilities across Maharashtra, Gujarat and Andhra Pradesh till March 31.
• India Cements’ plants at Tamil Nadu, Andhra Pradesh, Telengana, Rajasthan and Maharashtra are shutting down operations effective from such dates as per the directions/ guidelines issued by the Central /respective State Governments.
• HSIL has suspended its operation in Rajasthan with immediate effect till further notice.
• Titagarh Wagons suspended operations of its West Bengal plant.
• Bosch to suspend its operations in its Plants situated at Bengaluru, Bidadi, Nashik, Jaipur, and Gangaikondan till March 31.
• Genus Power India shuts down all manufacturing units and offices until March 31.
• Tube Investments of India said that the company’s operations in all locations in India stand suspended.
• Bharat Bijlee to suspend operations at its plant in Airoli and its branches with effect from March 21-31.
• TTK Prestige shuts its manufacturing units at Karjan, Roorkee, and Khardi to March 31.
• Federal-Mogul Goetze shut down its plants at Bangalore, Patiala, and Bhiwadi until March 31.
• GMM Pfaudler to suspend manufacturing operations at Karamsad until March 25 and Pune until March 31.
• Sumitomo Chemical has closed manufacturing operations in Kutch, Gujarat until further notice. The company said that operations of its offices and cost & freight agencies have also been impacted.
• Capacite Infraprojects to halt operations at project sites until March 31.
• Cochin Shipyard to stop shipbuilding and ship repair operations with effect from March 23, until further notice.
• Ramco Cements to halt production for its grinding units in West Bengal with effect from March 23.
• Gujarat Alkalies and Chemicals said that it will reduce the size of its manufacturing operations. The company said in a press release that there has been a reduction in plant loads by 30 percent at Baroda and Dahej complexes.
• TVS Motorhalts operations at all its manufacturing facilities and offices in India and globally till further notice
• CG Consumer Electricals has closed its plants located at Ahmednagar, Baroda, Baddi, and Goa till March 25.
• Minda Industries to suspend its operations in Gujarat, Karnataka and Tamil Nadu until further notice.
• Indo Count Industries closed down its manufacturing plant in Kolhapur till March 31. Manufacturing operations are expected to resume on April 1.
• Nippon Life India Asset Management to close its collection centres and branch offices from March 23 onwards.
• BHEL said that all its manufacturing facilities will be closed until March 31. The company shall run only essential operations.
• Kokuyo Camlin’s operations at Jammu Kashmir and Maharashtra to be stopped till March 31.
• Wendt has closed its manufacturing facility at Hosur, with immediate effect.
• Amber Enterprises to close its manufacturing operation across India with immediate effect till March 31.
• Somany Ceramics closes its operations at Noida, Ahmedabad, and Morbi till March 31.
• Coromandel International said in a press release that its complex fertilizer plants in Andhra Pradesh and Tamil Nadu are being currently operated with reduced manpower. The manufacturing units in the other notified districts have suspended their operations up to March 31 based on the directives of the respective local governments.
• Finolex Industries shuts down manufacturing plants in Maharashtra till March 31 and other sites in other states as notified by the respective authorities.
• Indo Rama Synthetics to shut production at its facilities at Nagpur with effect from March 24 till further notice.

Bulk Deals

• Tourism Finance Corporation of India: Varanium Dynamic Trust acquired 26.5 lakh shares (3.28 percent) at Rs 32.85 per share and Nomura Singapore sold 26.5 lakh shares (3.28 percent) at Rs 32.85 per share.
• PVR: Bottom Billion Fund sold 2.65 lakh shares (0.52 percent) at Rs 1216.29 per share.

Trading Tweaks

• Prestige Estates Projects, Ujjivan Small Finance Bank, Aurionpro Solutions, Shoppers Stop, GTL Infrastructure to move into short term ASM Framework
• Adani Transmission, GHCL, Wockhardt, Welspun Corp, Take Solutions, Solara Active Pharma Sciences, Orient Refractories, Indo Count Industries, CESC Ventures to move out of short term ASM Framework
• KPIT Technologies to move into ASM Framework
• Future Enterprises, Quess Corp, Investment Trust Of India price band revised from 10 percent to 5 percent
• Aavas Financiers, Apex Frozen Foods, Apollo Pipes, Arvind, Ashoka Buildcon, Atul Auto, BEML, Brigade Enterprises, Dalmia Bharat, DCB Bank, Entertainment Network (India), Finolex Industries, Gujarat Fluorochemicals, Gujarat State Fertilizers & Chemicals, HEG, Hikal, Himatsingka Seide, Indo Rama Synthetics (India), Infibeam Avenues, ICICI Securities, J.Kumar Infraprojects, JMC Projects, Kalpataru Power Transmission, Kolte - Patil Developers, Lemon Tree Hotels, Lumax Auto Technologies, Orient Cement, Prism Johnson, Redington (India), Shree Renuka Sugars, Safari Industries, Sobha, Somany Ceramics, South Indian Bank, Spandana Sphoorty Financial, Sunteck Realty, TD Power Systems, Ujjivan Small Finance Bank, VRL Logistics, Welspun India, Zensar Technologies price band revised from 20 percent to 10 percent.

Who’s Meeting Whom

• Eicher Motors to meet Malabar Investments and Capital Research Global Invest from March 24-25

Insider Trading

• Godrej Industries promoter Anamudi Real Estates acquired 1.4 lakh shares from March 19-20
• Great Eastern Shipping promoter Ravi Sheth acquired 76,600 shares from March 18-19
• Aurobindo Pharma promoter Trident Chemphar acquired 5.64 lakh shares from March 18-20
• Man Infra promoter Parag Shah acquired 2.9 lakh shares on March 19
• Music Broadcast promoter Jagran Prakashan acquired 90,951 shares on March 20

(As Reported On March 23)

Money Market Update

• The rupee ended weaker at Rs 76.28 against the dollar on Monday versus Rs 75.20 against the dollar on Friday. Rupee closed at its life time-low.

F&O Cues

Index Futures

• Nifty March futures closed at 7,581.5, a discount of 28.6 points versus 22.3 points
• Nifty futures across series open interest down 14 percent, sheds 29.2 lakh shares in open interest
• Nifty Bank March futures closed at 16,881, a discount of 36 points versus 23 points
• Nifty Bank futures across series open interest fell 6 percent, sheds 82,000 shares in open interest
• Rollover-Nifty 34 percent, Nifty Bank 26 percent

Options

• Nifty PCR at 1.02 versus 1.18 (across all series)

Nifty Monthly Expiry: March 26

• Max open interest on call side at 10,000 (19.3 lakh shares)
• Max open interest on put side at 9000 (14 lakh shares)
• Open interest addition seen in 8000C (6.9 lakh shares), 8100C (4.4 lakh shares), 8,500C (3.3 lakh shares)
• Open interest shedding seen in 8000P (-11.3 lakh shares), 8500P (-6.4 lakh shares)