Stocks To Watch: Axis Bank, Cadila Healthcare, Indiabulls Real Estate, Maruti Suzuki, Max Financial
A trader works at the NYSE. (Photographer: Michael Nagle/Bloomberg)

Stocks To Watch: Axis Bank, Cadila Healthcare, Indiabulls Real Estate, Maruti Suzuki, Max Financial

Indian equities had a session marred by a technical outage that disrupted trading on the National Stock Exchange for nearly five hours. Once trading resumed, benchmark indices saw a big upmove that saw them gaining the most in three weeks. The S&P BSE Sensex ended 2% or over 1,000 points higher at 50,781 while the NSE Nifty 50 index gained 1.9% to end near the mark of 15,000 at 14,9

Here are the stocks to watch in trade today:

  • Maruti Suzuki: Suzuki Motor Corp. wants its India Unit to maintain market share of over 50% in the passenger car segment and take the initiative to promote electrification. Maruti Suzuki's promoter, in an investor presentation said that it not only aims to introduce electric vehicles in the country but also increase the number of rural small sales outlets. It also said that it aims to strengthen its SUV segment and promote CNG cars to boost its product line-up.
  • Max Financial Services: Has received IRDAI approval for stake purchase by Axis Entities. Insurance Regulatory and Development Authority of India has given its formal approval for the acquisition of up to 12% stake in Max Life Insurance Company by Axis Bank and its subsidiaries, Axis Capital Limited & Axis Securities Limited (together Axis Entities).
  • Cadila Healthcare: Cyprium Therapeutics, a Fortress Biotech partner company, and Sentynl Therapeutics, Inc., a wholly-owned subsidiary of the Zydus Group, have announced the execution of an asset purchase agreement to commit development funding for and acquire Cyprium’s proprietary rights to CUTX-101, its Copper Histidinate product candidate for the treatment of Menkes disease. Sentynl has acquired CUTX-101, Copper Histidinate, for $20 million in upfront and regulatory milestone payments through NDA approval, as well as potential sales milestones plus royalties. Cyprium will retain 100% ownership over any FDA priority review voucher that may be issued at NDA approval for CUTX-101.
  • Dredging Corporation of India: Has signed an Memoranda of Understanding with Cochin Shipyard to construct first ever Trailing Suction Hopper Dredger in India.
  • HG Infra Engineering: Has been declared as L-1 bidder by NTPC for transportation of 26.41 lakh Cu.M. of Pond Ash from NTPC Ramagundam to NHAI-PIU-Mancherial road construction project.
  • IRB Infrastructure Developers: The Thane Ghodbunder Toll Road Private Limited, a wholly owned subsidiary of the company, has successfully completed concession period of Thane Ghodbunder BOT Project on February 23, 2021 and handed over the project to the Maharashtra State Road Development Corporation Ltd. This Project SPV has contributed approximately 1% of consolidated total income of the company as on December 31, 2020.
  • lndo Rama Synthetics (India): The Board of Directors have approved expansion plan of Rs 640 crore for the company and its wholly owned subsidiary, i.e., lndorama Yarns Private Limited, towards addition of balancing equipment for value addition and also depending on viability to diversify into either Pet Chips or Specialty Yarns.
  • Indiabulls Real Estate: The Competition Commission of India has approved the Merger of NAM Estates and Embassy One with the company. Further, the company has also received other requisite regulatory approvals, from NSE, BSE, SEBI, and will proceed with filing of requisite application with NCLT for its approval to the Scheme of Merger. The combined listed entity will be owned 44.9% by Embassy Group, 26.2% by the existing public & institutional shareholders, 9.8% by existing IBREL Promoter Group and 19.1% by Blackstone group & other Embassy institutional investors.
  • IndiGrid Investment Managers: Has approved the acquisition of NER II Transmission Limited subject to unitholders and other regulatory approvals. An Extra-ordinary General Meeting of unitholders of IndiGrid will be held on March 19, 2021 to approve the proposed acquisition of power transmission asset and matters related thereto.
  • Just Dial: Has launched its B2B portal, Jd Mart, across various platforms for users.
  • MEP Infrastructure Developers: Has received the Letter of Award from National Highways Authority of India informing that the company has been engaged as the contractor for the collection of user fee through e-tender for Sergarh Fee Plaza in the state of Odisha for a period of 1 year.
  • PNB Gilts: Has appointed Chandra Prakash, Chief Manager - Punjab National Bank, as Chief Financial Officer of the company w.e.f. February 26, 2021.
  • Piramal Enterprises: Piramal Pharma, a subsidiary of the company, has completed the acquisition of Convergence Chemicals for an aggregate cash consideration of Rs 65.10 crore.

Pledge Share Details

  • Adani Ports And Special Economic Zone: Promoters (Gautam S Adani & Rajesh S Adani) revoked pledge of 74.39 lakh shares on February 23.
  • Adani Transmission: Promoters (Gautam S Adani & Rajesh S Adani) revoke pledge of 48.50 lakh shares on February 23.
  • Max Financial Services: Promoter Max Ventures Investment Holdings revoked pledge of 95,301 shares between December 29, 2020 and February 23, 2021.
  • Asahi India Glass: Promoter Sanjay Labroo revoked pledge of 3.51 lakh shares on February 19.
  • Mangalore Chemicals & Fertilizers: Promoter Zuari Agro Chemicals revoked pledge of 1.85 crore shares on December 18, 2020. As Reported On February 24.

Bulk Deals

  • Affle (India): Laudus International Marketmasters Fund bought 3.06 lakh shares (1.20%) at Rs 5,267 per share. Affle Holdings Pte sold 3.06 lakh shares (1.20%) at Rs 5,267 per share.
  • Esab India: SBI Mutual Fund bought 2.50 lakh shares (1.62%) at Rs 1,865 per share. Acacia Banyan Partners sold 2.34 lakh shares (1.53%) at Rs 1,865 per share.
  • Himadri Speciality Chemical: BC India Investments sold 50 lakh shares (1.19%) at Rs 40.07 per share.

Who's Meeting Whom

  • Gati: To meet Elara Securities (India), PhillipCapital (India) and Ambit Capital on February 25.
  • Wabco India: To meet Goldman Sachs Asset Management, UTI Mutual Fund and SBI Mutual Fund on February 25.
  • PSP Projects: To meet Eternity Capital LLP on February 25.

Trading Tweaks

  • Ex-Date Buy Back: Gujarat Apollo Industries
  • Ex-Date Bonus Issue: Nakoda Group of Industries
  • Ex-Date Interim Dividend: Amara Raja Batteries, Dharamsi Morarji Chemical Co, GM Polyplast, Career Point, The Yamuna Syndicate
  • Record Date Interim Dividend: Isgec Heavy Engineering, Techno Electric & Engineering Company, Sandhar Technologies, Karda Constructions, RACL Geartech, Nile
  • Move Into ASM Framework: Tube Investments Of India, Panama Petrochem, Poly Medicure, HBL Power Systems
  • Move Into Short-term ASM Framework: DCW, OnMobile Global, HT Media
  • Move Out Of Short-term ASM Framework: Goldiam International, Shakti Pumps (India)

Insider Trades

  • SpiceJet: Promoter Kalpana Singh sold 1 lakh shares on February 18.
  • Prakash Industries: Promoter Ved Prakash Agarwal acquired 20,000 shares on February 23.
  • Aarti Industries: Promoter Jaya Gogri sold 20,000 shares on February 23.
  • Bhageria Industries: Promoter Rahul Bhageria acquired 27,261 shares between February 22-23.
  • Man Infraconstruction: Promoter Parag Shah acquired 55,428 shares on February 23.
  • Vardhman Special Steels: Promoter Sachit Jain acquired 4,940 shares on February 22.
  • Godrej Agrovet: Promoter Godrej Industries acquired 19,384 shares on February 18.
  • Adani Green Energy: Promoter Harmonia Trade and Investment acquired 20 lakh shares on February 23.
  • Affle (India): Promoter Affle Holdings Pte. sold 3.06 lakh shares on February 24.
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