Stocks To Watch:  Axis Bank, Bajaj Finance, Bajaj Finserv,  Bombay Dyeing, HUL, HDFC Life
People look toward a screen and an electronic ticker board outside the Bombay Stock Exchange (BSE) building in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Stocks To Watch: Axis Bank, Bajaj Finance, Bajaj Finserv, Bombay Dyeing, HUL, HDFC Life

Asian stocks rose Tuesday after a technology-fueled rally lifted their U.S. counterparts to the highest since February, with progress toward a coronavirus vaccine also boosting sentiment.

The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose nearly 1% to 11,119 as of 8:05 a.m.

Here are the stocks to watch in trade today:

  • Majesco: The company's U.S. subsidiary has signed a definitive agreement to be acquired by Thoma Bravo LP, a PE firm focused on software and technology-enabled services. The transaction values the company at $594 million. It will now operate as a privately held company. Shareholders will receive $13.1 in cash for each share of the company common stock upon closing of the transaction. The price is a 74% premium to the average closing price during the 30-day period ended July 17. The gross value to be received by the company for its stake in the U.S. subsidiary in the merger is $420.66 million, as compared to the total investments of $68.67 million made by the company in its U.S. subsidiary till date.
  • InterGlobe Aviation: IndiGo, impacted by the pandemic, is flying only a small percentage of its fleet of 250 airplanes and will cut 10% of its workforce, CEO Ronojoy Dutta said in a statement. Impacted employees will be given a severance pay while medical insurance has been extended till December.
  • NTPC: Added 800MW of Lara Super Thermal Power Project, to the company’s installed capacity. With this, the total installed capacity of NTPC and NTPC group has become 51,155 MW and 62,910 MW respectively.
  • NHPC: In accord with Gedcol for Odisha solar power projects.
  • Wipro: Announced a partnership with Compliance Quest to develop management solutions for the medical devices and life sciences industries.
  • Balaji Telefilms: Resumed shoot of all television shows from July 16.
  • Tata Power: Arm Coastal Gujarat Power has allotted NCDs worth Rs 350 crore on a private placement basis.
  • Gateway Distriparks: The board approved a raising funds not exceeding Rs 150 crore on a rights basis, QIP and preferential allotment or any other combination thereof. Out of which, the board will issue 16.1 crore shares worth Rs 116 crore for its rights issue at a price of Rs 72 per share. The rights entitlement ratio has been fixed at 4 rights equity shares for every 27 equity shares held by the eligible shareholders. The record date for the same has been fixed at July 24. The issue opens on July 30 and closes August 13. The rights issue price is a 20% discount to Monday's closing price.
  • Chennai Petrochem: Allotted NCDs worth Rs 810 crore on a private placement basis.
  • Omaxe: Signs agreement with Jindal Steel and Power to develop a multi-level parking-cum-commercial project at Chandni Chowk with North Delhi Municipal Corporation. JSPL will supply 7000-8000 metric tonne of structure steel to Omaxe.
  • Nifty Earnings Today: Hindustan Unilever, Bajaj Finance, Bajaj Finserv, Axis Bank
  • Non-Nifty Earnings Today: HDFC Life, ICICI Prudential, SBI Life, Syngene, Tata Elxsi, Polycab, IndiaMART InterMESH, Hindustan Copper, Hindustan Zinc, Mahindra CIE, Somany Home Innovation.

Earnings Reported After Market Hours

ACC Q2 CY 2020 (Consolidated, YoY)

  • Revenue down 37.3% to Rs 2,602.2 crore
  • Net profit down 40.5% to Rs 270.9 crore
  • Ebitda down 32.9% to Rs 525.3 crore
  • Ebitda margin at 20.1% from 18.8%
  • Volumes down 33.3% to 4.8 MT
  • Realisations flat at Rs 5,315 per tonne
  • Ebitda per tonne flat at Rs 1,094
  • Operational numbers better than expected due to higher prices and lower discounts
  • Other costs declined on a sequential basis by Rs 200 crore
  • All numbers are consolidated and compared on a year-on-year basis

Bombay Dyeing Q1 (Consolidated,YoY)

  • Revenue down 85.9% to Rs 91.2 crore
  • Net loss of Rs 129.3 crore from net profit of Rs 27.7 crore
  • Ebitda loss of Rs 22.3 crore from Ebitda gain of Rs 133.6 crore
  • All numbers are consolidated and compared on a year-on-year basis

Den Networks Q1 (Consolidated, YoY)

  • Revenue down 3.8% to Rs 301.3 crore
  • Net profit down 47.7% to Rs 58.7 crore
  • Ebitda up 55.1% to Rs 63.9 crore
  • Ebitda margin at 21.2% from 13.2%
  • All numbers are consolidated and compared on a year-on-year basis

Pledged Share Details

  • Zee Entertainment Enterprises: Promoter Cyquator Media invoked pledge of 18.3 lakh shares on July 15
  • Emami: Promoters revoked pledge of 3.4 crore shares on July 17
  • Eveready Industries: Promoter Williamson Magor invoked pledge of 37.1 lakh shares on July 14.
  • Omaxe: Promoter Guild Builders created pledge of 71.2 lakh shares on July 17

(As Reported On July 20)

Bulk Deals

  • Quick Heal Tech: Promoter Jupiter Fund sold 3.29 lakh shares (0.51%) at Rs 118.9 per share
  • PVR Rights Issue: Nippon AMC acquired 20,000 shares at Rs 222 per share, Sundaram BNP Paribas Mutual Fund acquired 35,000 shares at Rs 224 per share, Societe General acquired 25,641 shares at Rs 224 per share and Gaoling Fund sold 31,895 shares at Rs 226 per share, Taiyo Greater India Fund sold 31,895 shares at Rs 235.3 per share and Multiple Private Equity Fund sold 87,000 shares at Rs 226.24 per share.

Who’s Meeting Whom

  • Shriram City Union Finance to meet Hara Global Capital Management on July 21
  • Eicher Motors to meet BlackRock, HDFC Standard Life Insurance and White Oak Capital from July 21-23

Trading Tweaks

  • AGM Date: AU Small Finance Bank, Bajaj Finance, Bajaj Finserv, DCM Shriram, HDFC, HDFC Life Insurance, Polycab, Tata Elxsi, Ajanta Pharma, Colgate Palmolive, Vaibhav Global
  • Price Band Revised From 10% To 5%: Gujarat Fluorochemicals
  • Move Into ASM Framework: Kilpest India
  • Move Into Short-Term ASM Framework: Polychem
  • Move Out Of Short-Term ASM Framework: Affle, Diamines & Chemicals, Adani Transmission, Greenlam Industries, Texmo Pipes and Products

F&O Cues

  • Nifty July futures closed at 11,009, discount of 14 points versus premium of 3 points
  • Nifty July futures open interest up 2.6%, adds 2.7 lakh shares in open interest
  • Nifty Bank July futures closed at 22,287, discount of 35 points versus premium of 5 points
  • Nifty Bank July futures open interest up 1.9%, adds 27,000 shares in open interest

Nifty Monthly Expiry: July 23

  • Max open interest on call side at 11,200 strike (27 lakh shares)
  • Max open interest on put side at 10,800 strike (26.4 lakh shares)
  • Active options: 11,000 Put (+10.2 lakh shares), 11,400 Call (+7.8 lakh shares)

Nifty Monthly Expiry: July 30

  • Max open interest on call side at 11,500 strike (27.2 lakh shares)
  • Max open interest on put side at 10,000 strike (35.3 lakh shares)

Ban List

  • In Ban: Adani Ent, BHEL, Can Bank, Century Textiles, Glenmark, Idea, L&THF, M&MFin, Nalco, Sun TV
  • New In Ban: Adani Ent, M&MFin
  • Out Of Ban: PNB
Stocks To Watch:  Axis Bank, Bajaj Finance, Bajaj Finserv,  Bombay Dyeing, HUL, HDFC Life
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