Stocks To Watch: Axis Bank, Alembic Pharma, Bajaj Auto, Dishman Carbogen, HUL, L&T, Yes Bank 

Asian stocks saw a muted start to trading Wednesday, after a mixed U.S. session on doubts over the timing of a fresh stimulus programme.

Shares were little changed in Japan, ticked higher in South Korea and slipped in Australia. Futures on the S&P 500 edged up after the gauge finished well off session highs.

The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was little changed at 11,161 as of 7:00 a.m.

Here are the stocks to watch in trade today:

• Moody's Investors Service said that equity raise has strengthened Yes Bank's capital and reduces risks for creditors. The credit rating agency stated that the capital raise reduces risks for creditors that the capital raise is credit positive because it strengthens the bank’s capitalization and loss-absorbing buffers and will reduce default risk for its creditors. The successful equity raise reflects Yes Bank's regained access to external market funds, which in turn shows its improving financial strength and will help to support depositor confidence.
• Rakesh Jhunjhunwala and wife Rekha have picked up 3.18% stake in Dishman Carbogen Amcis as of June Quarter. Both of them have cumulatively acquired 50 lakh shares in the company.
• Nocil: June shareholding pattern for Ashish Kacholia shows that his stake has fallen below 2 lakh shares/exited the company, with his ownership for March being at 2.85%. Dolly Khanna decreased her stake from 1.72% to 1.5%, for the June quarter, as reported to exchanges
• Edelweiss Financial: Rakesh Jhunjhunwala increased his stake from 1.04% to 1.19%, for the June quarter, as reported to exchanges.
• Indian Hotels signed a binding agreement the acquisition of the balance 14.28 per cent equity interest in ELEL from the Nanda family. This will make the company 100% leasehold owner of the Sea Rock hotel site by December 31.
• BEML received orders from the government for the supply of 1,512 tanks at an approximate cost of Rs 557 crore.
• Zee Entertainment Enterprises: IDBI Trusteeship Services has acquired 43.48 lakh shares (0.45% stale) in the company via invocation of pledge.
• Best Agrolife has been granted license/registration for manufacturing Diron, an insecticide with controls a broad spectrum of previous and invasive pests. The company’s revenue would increase by Rs 100 crores with the help of this product.
• CSB Bank Q1FY21 Update: Total deposits up 7.5% at Rs 16,338 crore, on a year on year basis. Advance against gold and gold jewellery up 28.3% at Rs 3,843.5 crore. Liquidity coverage ratio at 230% as on June 30.
• CG Power & Industrial Solutions completed divestment of its step-down unit in France.

Nifty Earnings

Axis Bank Q1 (Standalone, YoY)

• Net Interest Income up 20% at Rs 6,985 crore (Est Rs 6,777 crore)
• Net profit down 19% at Rs 1,112 crore (Rs 1,165 crore)
• Provisions at Rs 4,416 crore versus Rs 3,815 crore
• GNPA at 4.72% vs 4.86% QoQ
• NNPA at 1.23% vs 1.56% QoQ
• Additional provisions for Covid-19 worth Rs 733 crore made in current quarter
• Overall provision coverage ratio, including specific, standard, additional and COVID-related provisions, for the bank at 104%
• Moratorium amount stands at 9% in total loan book value as of June 30

Hindustan Unilever Q1 (Standalone,YoY)

• Revenue up 4.4% at Rs 10,560 crore (Est Rs 9,880 crore)
• Net profit up 7.2% at Rs 1,811 crore (Est Rs 1,722 crore)
• Ebitda down 0.1% at Rs 2,644 crore (Est Rs 2,577 crore)
• Margins at 25% versus 26.2% (Est 26.1%)
• Ahead of consensus

Bajaj Finserv Q1 (Consolidated,YoY)

• Revenue up 15.6% at Rs 14,190 crore
• Net profit up 43.8% at Rs 1,215.2 crore
• Profits increase due higher tax reversal
• Group has recognized an additional loss provision due to Covid-19 of Rs 1,450 crore during the quarter, taking the overall contingent expected credit loss provision to Rs 2,350 crore.

Other Earnings

Polycab Q1 (Consolidated,YoY)

• Revenue down 50% at Rs 976.6 crore (Est Rs 1,145 crore)
• Net profit down 12.6% at Rs 117.6 crore (Est Net loss at Rs 51.4 crore)
• Ebitda down 74.3% at Rs 57.5 crore (Est Ebidta loss at Rs 108 crore)
• Margins at 5.9% versus 11.5%
• Income tax reversal of Rs 86 crore in current quarter impacted bottom line
• Degrowth seen all segments such wires and fast moving electrical goods
• Ad expenses down 92% at Rs 3.2 crore
• Domestic distribution channel sales, housing wires business saw great traction posting a strong double digit growth in June

IIFL Finance Q1 (Consolidated,YoY)

• Net Interest Income up 1.8% at Rs 555.8 crore
• Net profit down 81.9% at Rs 31.6 crore
• Impairment of financial instruments at Rs 162.1 crore versus reversal of impairment at Rs 104.3 crore
• Net profit up 26% at Rs 228 crore (before Covid-19 related provision and other exceptional items)
• Loan AUM up 10% at Rs 38,335 crore
• Loans under moratorium have fallen from 60% as at end of May to 31% as at end of June
• Company has offered second moratorium to all its customers on an opt-in basis

Indiamart Intermesh Q1 (Consolidated, YoY)

• Revenue up 3.9% at Rs 153.1 crore
• Net profit up 2.3 times at Rs 74.1 crore
• Ebitda up 2 times at Rs 73.3 crore
• Margins at 47.9% versus 24.9%
• Margins improve due to lower employee costs and other expenses

Crisil Q2 CY2020 (Consolidated,YoY)

• Revenue up 13.5% at Rs 471.8 crore
• Net profit down 1% at Rs 66.3 crore
• Ebitda up 19.9% at Rs 116.2 crore
• Margins at 24.6% versus 23.3%
• Ratings segment revenue up 10% at Rs 144.1 crore
• Research segment revenue up 18% at Rs 295.7 crore

Earnings Today

• Bajaj Auto
• Larsen & Toubro
• Jindal Steel & Power
• Bajaj Holdings & Investment
• Alembic Pharmaceuticals
• Astec LifeSciences
• Balaji Telefilms
• Dhanuka Agritech
• Everest Industries
• HeidelbergCement
• ICICI Securities
• K.P.I. Global Infrastructure
• Music Broadcast
• Network18 Media & Investments
• Newgen Software Technologies
• Rallis
• TV18 Broadcast

Pledged Share Details

• Adani Ports & SEZ promoter SB Adani Family Trust created pledge of 7.96 crore shares on July 20
• Nath Biogenes promoter Akash Farm released pledge of 4.61 lakh shares from July 14-16
• Adani Transmission promoter SB Adani Family Trust created pledge of 2.46 crore shares on July 20
• Adan Green Energy promoter SB Adani Family Trust created pledge of 75.5 lakh shares on July 20
• Emami promoter Suntrack Commerce released pledge of 30 lakh shares on July 21

(As Reported On July 21)

Bulk Deals

• eClerx Services: Promoter eClerx Services (Buyback) acquired 2.3 lakh shares (0.62%) at Rs 523.05 per share.
• Carborundum Universal: Kotak Fund acquired 11.63 lakh shares (0.61%) at Rs 235 per share and Smallcap World Fund sold 35 lakh shares (1.85%) at Rs 235.19 per share
• Shriram Transport Rights Issue: BNP Paribas Arbitrage acquired 1.47 lakh rights shares at Rs 107.73 per rights share
• PVR Rights Issue: Multiples Private Equity Fund sold 36,227 rights shares at Rs 221.2 per rights share and Blackrock Fund Advisors sold 20,445 rights issue share at Rs 220.13 per rights share.

Who’s Meeting Whom

• 5paisa Capital to meet One Up Financial Consultants on July 22
• Siemens to meet Macquarie Asset Management and JP Morgan Asset Management on July 22

Trading Tweaks

• AGM Date: Bank of Baroda, GE Shipping, Godrej Agrovet, BASF India
• Ex-Date For Rights Issue: Mahindra & Mahindra Financial Services (Rights issue at 1:1, premium at Rs 48 per share)
• Price Band Revised From 10% To 5%: Dishman Carbogen Amcis, Den Networks
• Move Into Short-Term ASM Framework: BF Utilities, Gujarat Fluorochemicals, Future Enterprises, Vikas EcoTech
• Move Out Of Short-Term ASM Framework: Bharat Rasayan

Insider Trades

• Dish TV promoter Direct Media Distribution Ventures sold 1 crore shares from July 18-19

(As Reported On July 21)

Ban List:

• In Ban: Adani Enterprise, BHEL, Century Textiles, Escorts, Glenmark, JSPL, L&T Housing Finance, M&M Financial, Nalco, Sun TV
• New In Bank: Escorts, JSPL
• Out Of Ban: Idea, Canara Bank