Stocks To Watch: Axis Bank, BPCL, IDBI Bank, M&M, PNB
A trader speaks on a fixed-line telephone, as he makes a note, on the trading floor of the open outcry pit at the London Metal Exchange Ltd. (LME), in London, U.K. (Photographer: Simon Dawson/Bloomberg)

Stocks To Watch: Axis Bank, BPCL, IDBI Bank, M&M, PNB

It was a day of recoveries for India's benchmark indices with both the indices ending little changed after recovering from the lowest point of the day. The S&P BSE Sensex recovered over 400 points from the day's low to end 9 points higher at 46,263. The NSE Nifty 50 index too recovered 120 points from the lowest point of the day to end 9 points higher at 13,567.

Here are the stocks to watch in trade today:

  • IDBI Bank: Launched fund raising through QIP issue. Floor price of Rs 40.63 per share is a 3.8% discount to Tuesday's closing price. The bank aims to raise Rs 2,000 crore through QIP (Base Size of Rs 1,000 crore and Greenshoe Option of Rs 1,000 crore).
  • Indian Bank: Has declared the NPA account of IL&FS Financial services as 'Fraud' and reported the same to the Reserve Bank of India. The bank has an exposure worth 408 crore rupees to the said account. The lender says that the account has been fully provided for, as per the regulatory requirement.
  • Punjab National Bank: Has launched QIP issue to raise funds. Floor price of Rs 37.35 per share is a 7.6% discount to Tuesday's closing price. Board to meet on December 18 to determine issue price for the QIP.
  • Mahindra & Mahindra: To increase the price of its range of Passenger and Commercial Vehicles, across models from January 1, 2021. The company said that this has been necessitated due to the increase in commodity prices and various other input costs.
  • Embassy Office Parks REIT: Launched a QIP issue on Tuesday in order to raise funds. The floor price of 348.38 rupees per unit is a 2.1% discount to Tuesday's closing price.
  • Axis Bank: Said its total exposure to SREI group does not exceed Rs 800 crore and the allegations by Australia-based news agency Scams Breaking on the bank's exposure to SREI Group are "grossly inaccurate and baseless". Axis Bank's total exposure to SREI group includes Rs 731 crore fund-based exposures and Rs 69 crore non-fund based exposures. Axis Trustee Services acts in its fiduciary capacity as a trustee and/or custodian and charges registered by it is not a reflection of the exposure of Axis Bank, the bank said.
  • Biocon: Biocon Biologics in continuation of its Mission 10 cents affordable insulins program for low- and middle-income countries, has signed a Memorandum of Understanding with the Christian Social Services Commission in Africa. Tanzania will be the first country in Africa that will benefit from this collaboration between Biocon Biologics and CSSC. Biocon Biologics is helping unlock universal access to quality insulins in LMICs by making recombinant human insulin available for less than 10 U.S. cents per day as a part of its ‘Mission 10 cents’ program.
  • HG Infra Engineering: Has been declared as L-I bidder by lrcon Intemational Limited for its project worth Rs 713 .69 crore.
  • JSPL: Appoints Hemant Kumar as CFO from December 15.
  • Persistent Systems: Has appointed Charles Owen as Chief Corporate Development Officer. Owen will guide the corporate strategy of the digital business solutions innovator and work closely with CEO and Executive Director Sandeep Kalra, said the company.
  • PVR: To consider fund raising via various methods at its board meeting on December 18.
  • Shree Cement: CARE Ratings has reaffirmed the credit rating of the Commercial Paper of Rs 400 crore to A1+.
  • Union Bank of India: Has allotted non-convertible, fully paid-up Basel Ill Compliant Debt Instruments in the nature of debentures eligible for inclusion in Additional Tier 1 Capital Series XXVll aggregating to Rs 500 crore.
  • Hathway Cable And Datacom: Has acquired balance 49% i.e. 9,800 equity shares of Hathway Digital Saharanpur, subsidiary of the company for a cash consideration of Rs 25 lakh.
  • Mrs. Bectors Food Specialities: IPO subscribed 3 times on first day of IPO subscription. QIB 0.02x, HNI 1.37x, Retail 6.83x and Employee 9.46x. Overall 3.72 times as per cumulative data on BSE and NSE at 5 pm.

Pledge Share Details

  • Chambal Fertilisers & Chemicals: Promoter Zuari Global revoked pledge of 11 lakh shares on December 11.
  • Kalpataru Power Transmission: Promoter Parag M. Munot revoked pledge of 18.39 lakh shares on December 11.
  • Reliance Power: Promoter Reliance Infrastructure invoked pledge of 19.17 crore shares on December 11.
  • Solara Active Pharma Sciences: Promoter Pronomz Ventures invoked pledge of 2.40 lakh shares on December 14. As Reported On December 15.

Who’s Meeting Whom

  • Crompton Greaves Consumer Electricals: To meet JP Morgan India on December 16.
  • Gland Pharma: To meet First Principles Funds and Ambit Capital on December 16.
  • Manappuram Finance: To meet Duro Capital and IIFL Capital on December 16.
  • United Spirits: To meet Spark Capital on December 16.
  • KEC International: To meet DAM Capital Advisors on December 16.
  • Advanced Enzyme Technologies: To meet Malabar Investments on December 16.
  • SP Apparels: To meet Edelweiss Group on December 16.
  • Welspun Corp: To meet Kotak Mutual Fund on December 17.
  • Voltas: To meet Ambit Capital on December 17 and EnamAMC and IDFC Mutual Fund on December 18.
  • Computer Age Management Services: To meet First Principles Fund, USA on December 18.

Bulk Deals

  • Mukand: Promoter Bajaj Sevashram bought 47.85 lakh shares (3.38%) at Rs 60.5 per share. Promoter Jeewan Ltd sold 47.85 lakh shares (3.38%) at Rs 60.5 per share.
  • Welspun Corp: Promoter Welspun Group Master Trust bought 26.98 lakh shares (1.03%) at Rs 132.01 per share.
  • Astec LifeSciences: Promoter Hiremath Ashok Vishwanath sold 4 lakh shares (2.04%) at Rs 1,102.09 per share.
  • Majesco: Unifi AIF sold 2 lakh shares (0.67%) at Rs 987.78 per share and sold 3.80 lakh shares at (1.27%) at Rs 990.6 per share.
  • Snowman Logistics: Adani Logistics sold 14.43 lakh shares (0.86%) at Rs 59.12 per share.
  • Max India: Kotak Mahindra (International) sold 3.01 lakh shares at Rs 65.97 per share. Manglam Financial Services sold 5 lakh shares at Rs 66.78 per share.

Trading Tweaks

  • AGM: Hindustan Construction Company, Responsive Industries, Jaypee Infratech, Kwality, Jayaswal Neco Industries.
  • Ex Date For Dividend: Responsive Industries, Trescon.
  • Price Band Revised From 10% To 5%: Bombay Rayon Fashions, KIOCL, Marathon Nextgen Realty, Zee Media Corporation, RSWM.
  • Price Band Revised From 20% To 10%: Cybertech Systems And Software, Hindustan Construction Company, Share India Securities, Sutlej Textiles & Industries.
  • Move In To Short-term ASM Framework: Hinduja Global Solutions, Sutlej textiles, Suven Life Sciences, Hindustan Construction Company, Olectra Greentech, ABB Power Products And Systems India.
  • Move Out Of Short-term ASM Framework: Sadbhav Engineering, Sadbhav Infrastructure Project.
  • Move In To ASM Framework: Supreme Petrochem, Zee Media Corporation, Shalimar Paints.

Insider Trades

  • Ultramarine & Pigments: Promoter (Sridhar Sundararajan, Jayalakshmi Venkataraman and S Narayan) sold 62,600 shares on December 14.
  • Maharashtra Seamless: Promoter Amruit Promoters and Finance acquired 25,300 shares on December 4.
  • NRB Bearings: Promoters (Aziz Yousuf Zaveri and Harshbeena Zaveri) acquired 14,125 shares between December 10-14.
  • Thangamayil Jewellery: Promoters (Balarama Govinda Das and NB Kumar) acquired 26,287 shares between December 9-11.
  • Man Infraconstruction: Promoter Parag K. Shah acquired 85,917 shares on December 14.
  • Max Ventures and Industries: Promoter Ravi Vachani acquired 10,000 shares on December 14.
  • Arvind SmartSpaces: Promoter Amardeep Holdings sold 54,365 shares on December 11.
  • Axis Bank: Promoter Life Insurance Corporation of India sold 2.60 lakh shares between December 7-11.
  • BMW Industries: Promoter Tricom Investments acquired 2.12 lakh shares on December 14. As Reported On December 15.
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