Stocks To Watch: Bajaj Auto, Infosys, Jubilant Foodworks, Wipro
A stockbroker holds a calculator as he monitors stock price information on his computer screen. (Photographer Matthew Lloyd/Bloomberg)

Stocks To Watch: Bajaj Auto, Infosys, Jubilant Foodworks, Wipro

Indian equity markets managed to recover a third of their worst fall in seven months that took place on Monday. The S&P BSE Sensex ended 1% higher and above the mark of 46,000 at 46,006. The index recovered 900 points from the lowest point of the day, which stood at 45,112.

Here are the stocks to watch in trade today:

  • Wipro: The company has announced a significant strategic digital and IT partnership deal with METRO AG. As part of this transaction, Wipro will take over the IT units of METRO AG — METRO-NOM GMBH in Germany and METRO Systems Romania S.R.L. The estimated deal value for the duration of the first 5 years is approximately $700 million. With the intention to extend up to 4 additional years, it can be a potential spend of up to $1 billion.
  • Infosys: Daimler and Infosys have announced a long-term strategic partnership for a technology-driven IT infrastructure transformation. After the receipt of all regulatory approvals, Daimler AG will transform its IT operating model and infrastructure landscape across workplace services, service desk, data center, networks and SAP Basis together with Infosys. The collaboration will empower Daimler to strengthen its IT capabilities, and Infosys, its automotive expertise.
  • Bajaj Auto: To spend Rs 650 crore to set up a new manufacturing facility in Maharashtra. The company has signed a memorandum of understanding with Government of Maharashtra to set up a manufacturing facility at Chakan. The factory to be utilized for manufacturing high-end KTM, Husqvarna and Triumph motorcycles as well as for electric vehicles starting with the Chetak scooter. The facility is expected to commence production in 2023.
  • Aster DM Healthcare: The subsidiary of the company, Aster Caribbean Holdings, has entered into an agreement with the Cayman Islands Government to further a healthcare project in the Cayman Islands to be known as the Aster Cayman Medcity for the provision of healthcare services. The agreement will see Aster initially develop a 150-bed comprehensive, tertiary and quaternary hospital, alongside an assisted living facility and healthcare university in the long-term.
  • LT Foods: CRISIL has revised its outlook on the long-term bank facilities of the company to 'Positive' from 'Stable' while reaffirming the rating at 'A-'. The short-term rating has been reaffirmed at 'A2+'.
  • Jubilant Foodworks: Introduced plant-protein Pizza. To be available at all Domino's restaurants across Delhi NCR, Mumbai and Bengaluru.
  • JSW Steel: Periama Holdings, incorporated under the laws of Delaware and an indirect wholly owned subsidiary of JSW Steel, has allotted additional fixed rate senior unsecured notes of $250 million. The additional notes are fungible, consolidated and form a single series with the fixed rate senior unsecured notes of $500 million issued by the Issuer in October 2020 and are guaranteed by the company pursuant to a trust deed dated October 19, 2020, as supplemented by the first supplemental trust deed dated December 21, 2020 executed by the company.
  • Zensar Technologies: Has been selected by NFU Mutual, the UK’s leading rural insurer, to form a new strategic technology and digital relationship to support multiple technologies that underpin a number of the company’s key business systems.
  • Fine Organic Industries: The Maharashtra Pollution Control Board has directed the company to stop operations at factory premises situated at Plot No. N-2, MIDC Additional, Ambernath, Thane for alleged violation of the provisions of Water (Prevention and Control of Pollution) Act, 1974, Air (Prevention and Control Pollution), Act, 1981 and the Rules made thereunder.
  • Larsen & Toubro Infotech: Syncordis S.A., Luxembourg and Nielsen + Partner S.A. Luxembourg (N+P), step-down subsidiaries of the company have approved merger between N+P and Syncordis. Consequently, N+P has ceased to be a step-down subsidiary of the company with effect from December 21.
  • SBI Cards and Payment Services: The Stakeholder Relationship Committee of the company has approved the allotment of 4,500 unsecured NCDs of the face value of Rs 10 lakh each, at par, under Series 22 aggregating to Rs 450 crore on private placement basis. The coupon/interest rate has been fixed at 6% per annum.
  • IFB Agro Industries: The company has alleged that its alcohol business is under threat, as it has been singled out by certain excise officials for not succumbing to their illegal demands and have requested the Chief Minister of West Bengal and also Finance, Commerce and Industry Minister of the state to look into the matter.
  • Gujarat Gas: CRISIL has reaffirmed its AA+/Stable rating on the total bank loan facilities of Rs 2,350 crore of the company.
  • Dabur India: Dissolution of Dabur Tunisie is likely to be completed by December 31, 2021 (instead of December 31, 2020 as informed earlier) as the Reserve Bank and Courts are working in limited capacity in Tunisia due to the ongoing pandemic Covid-19 situation.
  • Dishman Carbogen Amcis: Promoter Adimans Technologies LLP sold 19.74 lakh shares to non-retail investors on T day i.e., December 18, 2020 and sold 18,674 shares to retail investors on T+1 day i.e., on December 21, 2020, under OFS, in aggregate, amounting to 1.27% of the equity share capital of the company. The company had planned to sell close to 69 lakh shares i.e. 4.4% of the total paid-up equity share capital, through OFS.
  • Mahindra & Mahindra: SsangYong Motor Company, a material subsidiary of the company, has intimated the Korean Stock Exchange that it could not repay the loan amount of 40 billion KRW (approximately Rs 268 crore) to JP Morgan on account of SYMC's application for rehabilitation. SYMC
  • IIFL Securities: Arindam Chanda has resigned as the Chief Executive Officer, Key Managerial Personnel of the Company w.e.f. December 22.
  • Forbes & Company: The Board of Directors has approved entering into Memorandum of Understanding with GPX India and Equinix India for sale of approximately 3.804 acres of land at Chandivali for a consideration of Rs 200 crore. The MOU is terminable at the option of GPX. The Agreement for Sale is expected to be executed by January 31 , 2021 and the completion of the Proposed Transaction is expected to be completed in March 2021.
  • Jagran Prakashan: The company has subscribed on rights basis 25 lakh shares in its immaterial wholly-owned subsidiary, Mid-day Infomedia Limited, of Rs 10 each at a premium of Rs 10 per share, for cash. The investment is made to provide long-term fund to MIL.
  • Punjab National Bank: Government's shareholding now stands at 76.87% from 85.59% earlier, post the QIP.

Pledge Share Details

  • Max Financial Services: Promoter Max Ventures Investment Holdings revoked pledge of 1 lakh shares on December 19.
  • Mangalore Chemicals & Fertilizers: Promoter Zuari Agro Chemicals revoked pledge of 5.81 lakh shares on December 18. As Reported On December 22.

Who’s Meeting Whom

  • Tata Steel: To meet Kotak Securities on December 23.
  • Finolex Industries: To meet Dhanki Securities on December 23.
  • INOX Leisure: To meet Bellwether Capital on December 23.

Bulk Deals

  • Majesco: Atul Limited bought 2.14 lakh shares (0.72%) at Rs 981.58 per share.
  • Snowman Logistics: Adani Logistics sold 9.15 lakh shares (0.55%) at Rs 51.04 per share.

Trading Tweaks

  • Ex Date Interim Dividend: Majesco
  • Ex Date Dividend: Rajesh Exports
  • Move Out Of Short-term ASM Framework: Adani Power, The Anup Engineering, 3I Infotech, Everest Kanto Cylinder
  • Move Into Short-term ASM Framework: Indo Rama Synthetics (India)

Insider Trades

  • Godrej Industries: Promoter Anamudi Real Estates acquired 78,530 shares on December 16.
  • Ultramarine & Pigments: Promoters (Sridhar Sundararajan, Jayalakshmi Venkataraman and S Narayan) disposed 8,550 shares on December 21.
  • Usha Martin: Promoter Peterhouse Investments sold 5 lakh shares on December 18.
  • Filatex India: Promoter (Yaduraj Bhageria and Stuti Bhageria) acquired 5.30 lakh shares on December 21.
  • Ashoka Buildcon: Promoter Ashish Ashok Katariya acquired 7,000 shares between December 7-10.
  • Chalet Hotels: Promoter Palm Shelter Estate Development acquired 1 lakh shares on December 21.
  • BMW Industries: Promoter Tricom Investments acquired 4.10 lakh shares on December 21.
  • Thyrocare Technologies: Promoters (A Velumani and Thyrocare Properties and Infrastructure) acquired 10,370 shares on December 21.
  • NRB Bearings: Promoters (Aziz Yousuf Zaveri and Harshbeena Zaveri) acquired 47,299 shares between December 17-21.

As Reported On December 22.

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