Stocks To Watch: Bajaj Consumer Care, Cyient, Infosys, L&T Infotech, Reliance Industries, SBI, Yes Bank

Asian stocks began Thursday in a mixed fashion ahead of a slew of economic data in China that will provide clues on the path of economic recovery from the pandemic. The dollar kept its decline. Share indexes in Japan, South Korea and Australia opened flat.

Here are the stocks to watch in trade today:

• SBI: Board approved raising Additional Tier-I capital upto Rs 4,000 crore and fresh Tier-II upto Rs 10,000 crore. Bank will redeem Rs 11,015 crore of existing Tier-II bonds with call dates in fiscal 2021 and will sell new bonds to replace them. The bond sale for redemption will be over and above the proposed Rs 10,000 crore Tier-II capital raising.
• Yes Bank’s FPO subscribed 24% on day 1 (July 15), Retail book subscribed 9% and for qualified institutional buyers it was 66%.
• Rossari Biotech’s IPO received 79 times demand on the last day of the offer.
• Power Grid Corporation, GAIL: Provisional demand notices towards license fee has been withdrawn by the Department of Telecommunications. Nothing remains due to the telecom department by GAIL and Power Grid Corporation in the matter of AGR.
• Manappuram Finance on Covid-19 impact: The company may be able to withstand the impacts of the pandemic. Company’s lenders continue to roll over the credit lines and have also extended additional finance. Though the company expects that it will be able to maintain profitability of its gold loan business, the negative impacts of the pandemic may affect profitability of the company’s vehicle finance, MSME finance, housing finance verticals in the financial year 2020-21. The company, at the consolidated level, has made additional provision of Rs 70.25 crore for the quarter ended March 31, 2020 towards expected credit losses.
• Alembic has clarified that company’s fermentation facilities have been closed down long time back and its runs only a chemistry based small API unit.
• Himatsingka Seide has closed down its Doddaballapur unit in Karnataka till July 21.
• Cochin Shipyard has signed pact to build autonomous electric vessels. Company won an export order from Asko Maritime Norway. (Bloomberg News)
• GE T&D India: SBI MF increased stake from 4.72% to 7.07% in the company on July 14.
• SBI Cards and Payment Services to consider raising Rs 1,500 crore via issue of debentures. (Bloomberg News)
• Indiabulls Real Estate stated that it has received proposal from the Embassy Group, for the merger of the group’s assets (residential and commercial) aggregating to 61.9 million square feet into Indiabulls Real Estate. On filing of the scheme of amalgamation with the relevant regulatory authorities, Sameer Gehlaut, as a Promoter, along with the other existing promoter group entities of the transferee company shall initiate the process of de-promoterization and after the scheme of amalgamation is effective, Jitendra Virwani along with his other promoter entities of Embassy Group will be the new promoters of the amalgamated company.

Nifty Earnings

Infosys Q1 (Consolidated, QoQ)

• $ revenue down 2.4% at $ 3,121 million (Est $ 3,051 million)
• Revenue up 1.7% at Rs 23,665 crore (Est Rs 22,957 crore)
• Net profit down 1.5% at Rs 4,272 crore (Est Rs 3,941 crore)
• Ebit up 8.9% at Rs 5,365 crore (Est Rs 4,768 crore)
• Margins at 22.7% versus 21.2% (Est 20.8%)
• FY21 Revenue growth expected at 0-2% In Constant Currency
• FY21 Operating margin expected between 21-23%

Other Earnings

Larsen & Toubro Infotech Q1 (Consolidated, QoQ)

• $ Revenue down 4.8% at $ 390.3 million
• Revenue down 2.08% at Rs 2,949.2 crore (Est Rs 2,908 crore)
• Net profit down 2.37% at Rs 416.6 crore (Est Rs 392 crore)
• Ebidta up 2.42% at Rs 592 crore (Est Rs 554 crore)
• Margins at 20.1% versus 19.2%
• Margins improve due to lower operating expenses

Earnings Today

• Aditya Birla Money
• Bajaj Consumer Care
• Cyient
• L&T Finance Holdings
• L&T Technology Services

Pledged Share Details

• Adani Transmission promoter SB Adani Family Trust revoked pledge of 30 lakh shares on July 14

(As Reported On July 15)

Trading Tweaks

• AGM Date: Mahindra and Mahindra, Persistent Systems, Tasty Bite Eatables, Visaka Industries, Grindwell Norton, Coromandel International, TCI Express, Astec LifeSciences, ABB, Piramal Enterprises, Federal Bank, Onward Tech, Tata Investment Corpration.
• Fund Raising: Tourism Finance Corporation
• Price Band Revised From 20% To 10%: Hathway Cable & Datacom
• Move Into ASM Framework: Sunshield Chemicals
• Move Into Short-Term ASM Framework: Sree Rayalaseema Hi-Strength Hypo, Indo Amines
• Move Out Of Short-Term ASM Framework: Cimmco, Sterling Tools, Jagsonpal Pharmaceuticals, Quess Corp, Veto Switchgears And Cables.

F&O Cues

• Nifty July futures closed at 10,628, premium of 10 points versus premium of 7 points
• Nifty July futures open interest down 12.4%, sheds 13.5 lakh shares in open interest
• Nifty Bank July futures closed at 21,321, premium of 20 points versus premium of 5 points
• Nifty Bank July futures open interest down 2.2%, sheds 36,500 shares in open interest

Nifty Monthly Expiry: July 16

• Max open interest on call side at 10,800 strike (44.7 lakh shares)
• Max open interest on put side at 10,500 strike (21.7 lakh shares)
• Active options: 10,600 Put (+3.9 lakh shares), 10,800 Call (+13.9 lakh shares)

Nifty Monthly Expiry: July 30

• Max open interest on call side at 11,000 strike (25.4 lakh shares)
• Max open interest on put side at 10,000 strike (32.1 lakh shares)

Ban List

• In Ban: Can Bank, Century Textiles, Equitas, Escorts, Idea, L&T Fin, PNB, Mindtree, SAIL, Sun TV,
• New In Ban: L&T Fin