Stocks To Watch: Axis Bank, BPCL, Hero MotoCorp, L&T, Maruti Suzuki

Global sentiment, which is currently on a sticky wicket, finally caught up with the Indian markets as well. Benchmark indices reversed Tuesday's gains to end lower in today's session, dragged lower by selling pressure across the board.

The S&P BSE Sensex ended 1.5% lower at 39,922 while the NSE Nifty 50 index managed to defend the 11,700 mark, ending 1.34% lower at 11,729.

Here are the stocks to watch in trade today:

• Cipla has introduced Elifast for Covid-19 anti-body detection.
• Ajanta Pharma to consider share buyback on Nov. 3.
• HUDCO stated that it has achieved level of loan sanctions of Rs 2,628.23 crore and loan released of Rs 3,411.79 crore as on Sept. 30 for fiscal 2021.
• NTPC has entered a foreign currency loan agreement with Japanese Government’s financial institution for Rs 3,582 crore under GREEN initiative. Japan Bank for International Co-operation (JBIC) will provide 60% of the facility amount and the balance will be given by consortium of commercial banks, under the JBIC’s guarantee. The loan proceeds will be utilised by for funding its capex for flue gas desulphurization & renewable energy projects.
• GSK Pharma to proceed sale of its Vemgal site that has been classified as assets held for sale, following the global voluntary recall of Zintac.
• Punjab National Bank to infuse capital of up to Rs 600 crore in PNB Housing Finance. Board has also approved capital raise of up to Rs 1,800 crore through preferential issue, rights issue.
• Max India: Board approved giving corporate guarantee worth Rs 170 crore to Antara Senior Living. Mohit Talwar relinquished his position as vice-chairman of the Max group on Jan. 15, 2021, though he will continue to be managing director of Max Financial Services till Jan. 14, 2022. Rajit Mehta (current MD and CEO of Antara Senior Living) will join board of Max India Limited as a director and assume the additional role as its MD till January 2026.
• HSIL: Board has approved setting up of 150 tons per day speciality glass facility for Rs 220 crore, to meet packaging requirements of segments like pharma including vials, perfumery and other cosmetics and high end liquor. Company will extend capacity of its pipes business of building product division from 30,000 tons per annum to 48,000 tons per annum for Rs 100 crore.
• Godrej Industries allotted NCDs worth Rs 750 crore.
• VA Tech Wabag has filed a writ petition before Delhi High Court against Delhi Jal Board , as the body has unilaterally and arbitrarily issued a debarment letter stating that the company is debarred for the period of 3 years from participating in Delhi Jal Board tenders. This is with regard to certain non-payment of dues for more than five years and other issues over a contract for operation and maintenance of a sewage treatment plant in Delhi.
• Wipro to acquire 100% stake in fintech company Encore Theme Technologies for Rs 95 crore.
• ICICI Lombard General Insurance: Future and options contract will be available for trading with effect from Oct. 30.
• RBI has imposed penalty of Rs 22 lakh on DCB Bank in relation to para-banking activity.

Nifty Earnings

Axis Bank Q2 (Standalone, YoY)

• Net Interest Income flat at Rs 6,102 crore (Est Rs 6,305 crore)
• Net Profit at Rs 1,683 crore versus Net loss at Rs 112 crore (Est Net Profit at Rs 1,476 crore)
• GNPA at 4.18% versus 4.72% QoQ
• NNPA at 0.98% versus 1.23% QoQ
• Covid-19 provision stands at Rs 5,012 crore as on Sept.30
• Made provision of Rs 1,864 crore for assets that may be restructured based on August 6 circular for one-time restructuring

Larsen & Toubro Q2 (Consolidated, YoY)

• Revenue down 12.2% at Rs 31,035 crore (Est Rs 31,577 crore)
• Net profit (Before Exceptional Item) down 41.8% to Rs 1462.84 crore (Est Rs 1,234.86 crore)
• Ebitda down 12% at Rs 5,319.8 crore (Est 2,912 crore)
• Margins at 17.1% versus 17.1% (Est 9.2%)
• Q2 Order down 42% at Rs 28039 crore
• Declared special dividend of Rs 18 per share
• Orderbook down 1.4% at Rs 298,856 crore

Hero MotoCorp Q2 (Standalone, YoY)

• Revenue up by 24% at Rs 9,367 crore (Est Rs 8,756 crore)
• Net Profit up 9% at Rs 953.45 crore (Est Rs 964 crore)
• Ebitda up 17% at Rs 1,286 crore (Est Rs 1,204 crore)
• Margins at 13.7% versus 14.5% (Est 13.7%)

Other Earnings

ICICI Securities Q2 (Consolidated, YoY)

• Revenue up 63.2% at Rs 680.7 crore
• Net profit up 2.1 times at Rs 278.2 crore
• Declared dividend of Rs 8 per share
• Brokerage income up 82% at Rs 392 crore
• Strong growth in equities & allied business, private wealth management business, as well as investment banking business.

Piramal Enterprises Q2 (Consolidated, YoY)

• Revenue up 1% at Rs 3,301.8 crore
• Net profit up 13.9% at Rs 628.3 crore
• Net Interest Income up 11% at Rs 2,146 crore

PI Industries Q2 (Consolidated, YoY)

• Revenue up 27.6% at Rs 1,157.7 crore (Est Rs 1,100 crore)
• Net profit up 76.6% at Rs 217.6 crore (Est Rs 155 crore)
• Ebitda up 45.5% at Rs 280.1 crore (Est Rs 236.4 crore)
• Margins at 24.2% versus 21.2% (Est 21.4%)

Earnings Today

• Maruti Suzuki
• Bharat Petroleum Corporation
• Aavas Financiers
• Aegis Logistics
• Andhra Paper
• Apollo Pipes
• Arvind
• Astec LifeSciences
• Bank of Baroda
• Blue Dart Express
• Canara Bank
• Chemfab Alkalis
• Cholamandalam Investment
• Coromandel Engineering
• Gateway Distriparks
• Great Eastern Shipping
• Havells
• InterGlobe Aviation
• JK Paper
• Johnson Controls - Hitachi Air Conditioning
• Kakatiya Cement Sugar & Industries
• Laurus Labs
• Mahindra Holidays & Resorts India
• Mangalore Refinery and Petrochemicals
• Mastek
• Orient Cement
• Security and Intelligence Services
• Shriram Transport Finance
• Strides Pharma Science
• Surya Roshni
• Tata Chemicals
• TVS Motor
• Vaibhav Global
• Vodafone Idea
• Zensar Technologies.

Pledged Share Details

• Hatsun Agro Product promoter C Sathyan released pledge of 5.14 lakh shares on Oct.27
• Aurobindo Pharma promoter Prasad Kambam released pledge of 1.7 lakh shares on Oct. 26

(As Reported On Oct.28)

Who’s Meeting Whom

• Indian Energy Exchange to meet Trident Capital on Oct. 29.

Trading Tweaks

• AGM: Mastek, JBM Auto.
• Price Band Revised From 20% To 10%: GE Power India.
• Price Band Revised From 5% To 20%: Likhitha Infrastructure.
• Move Into ASM Framework: Kopran, IFB Industries, Reliance Communications.
• Move Into Short Term ASM Framework: Angel Broking, Ndr Auto Components, Suzlon Energy, Sanghi Industries.
• Move Out Of Short Term ASM Framework: AGC Networks.

Insider Trades

• Ultratech Cement promoter Kumar Mangalam Birla acquired 1.1 lakh shares on Oct.26

(As Reported On Oct.28)

F&O Cues

• Nifty October futures closed at 11,720; discount of 10 points vs discount of 14 points
• Nifty October futures Open Interest down 21.5%, sheds 17 lakh shares in Open Interest
• Nifty Bank October futures closed at 24,250; premium of 17 points vs discount of 13 points
• Nifty Bank October futures Open Interest down 23%, sheds 2.2 lakh shares in Open Interest

Options

• Nifty PCR at 0.90

Nifty Monthly Expiry: Oct 29

• Max Open Interest on call side at 12,000 (65.6 lakh shares)
• Max Open Interest on put side at 11,500 (39.4 lakh shares)
• Active options: 11,800 Put (-8.6lakh shares), 12,000 Call (21.6lakh shares)