Stocks To Watch: Bajaj Finance, Edelweiss Financial, Sun Pharma, KNR Construction 
A man looks up at an electronic ticker board that indicates stock figures at the Bombay Stock Exchange (BSE). (Photographer: Dhiraj Singh/Bloomberg)

Stocks To Watch: Bajaj Finance, Edelweiss Financial, Sun Pharma, KNR Construction 

Indian equities staged a sharp recovery from the day's low to end near the highest point of the day, and lodging yet another record high. The S&P BSE Sensex ended 0.64% higher at 48,176. This was the ninth straight day of gains for the index. The NSE Nifty 50 index too gained 0.8% to close above the mark of 14,100 at 14,132.

Here are the stocks to watch in trade today:

  • Bajaj Finance:The company's assets under management rose 4.66% quarter-on-quarter to Rs 1.43 lakh crore in October-December quarter, however, it contracted 1% year-on-year. The company added 6 million new loans in Q3 as compared with 7.7 million a year ago. Further the total deposits of the NBFC rose to Rs 23,800 crore in Q3, up 17% year-on-year.
  • KNR Construction has received orders worth of Rs 603.63 crore from Project Director, Highways (FAC), Chennai Kanyakumari Industrial Corridor Project. The company will also be responsible for the maintenance of the entire project stretch design length of 109.273 km for 7 years on Engineering, Procurement and Construction (EPC) Mode. The project will be completed within 39 months from the appointed date.
  • National Fertilizers: Has achieved highest ever production of 9.99 lakh Million Tonnes Urea in the third quarter of FY2020-21. Nangal and Panipat plants achieve best ever Urea production. Produced highest ever quantity of 4,981 MT of Bentonite Sulphur at Panipat plant.
  • NBCC (India): Has awarded the work for “Construction of Balance works/rectification of defects for the works of HEART BEAT - 2 on as is where Basis at Heartbeat City, Noida, pertaining to Amrapali group of companies on Engineering, Procurement and Construction (EPC) basis to Gaursons Hi-Tech Infrastructure at total contract value of Rs 351 crore.
  • Sun Pharmaceutical Industries: Has initiated Phase 2 clinical trial for SCD-044 in patients with moderate to severe plaque psoriasis. The Phase 2 study is a randomized, double-blind, placebo-controlled study to assess the efficacy and safety of SCD-044 in the treatment of moderate to severe plaque psoriasis. The study will enroll approximately 240 subjects and topline results are expected in 2022.
  • MOIL: Resources base of 7.65 million tonnes of Manganese Ore established in Gujarat under MoU with GMDC. Mineral Exploration Corporation Limited completed exploratory work in first phase by geophysical prospecting and core drilling over 8,200 metres. MECL's report suggests availability of the good grade of ore having potential and viability for manganese mining. MOIL is now preparing Techno Economic Feasibility Report based on the first phase report of MECL for underground mining operations in the long run. As the property seems to be viable, a JVC will be formed between MOIL and GMDC with shareholding of 51% and 49% respectively, in terms of the MoU already signed.
  • Jindal Saw: A meeting of Board of Directors will be held on January 11, for consideration of the proposal for issuance of NCDs on private placement basis.
  • Hemisphere Properties India: The Government of India has sanctioned loan amounting to Rs 40 crore to the company at the terms and conditions decided by Ministry of Finance.
  • IIFL Securities: IIFL Insurance Brokers Limited, a wholly owned subsidiary of the company, has received permission from IRDA for undertaking insurance e-commerce activities in lndia through Insurance Self Networking Platform.
  • Glenmark Pharmaceuticals: Has issued a notice of optional redemption to the holders of U.S. $200 million 4.5% Senior Notes due 2021 listed on the Singapore Exchange Securities Trading Limited. The company has elected to redeem US$10,000,000 aggregate principal amount outstanding of its 4.5% Senior Notes due 2021. The redemption price for the Redeemed Notes will be 101.125% of the outstanding principal amount of the Redeemed Notes, plus accrued and unpaid interest thereon and Additional Amounts.
  • Edelweiss Financial Services: The Rs 200 crore public NCD issue of the company was oversubscribed. The issue successfully mobilised over Rs 240 crore with the base issue as well as the Green Shoe option fully subscribed. The retail category was oversubscribed 2.27 times with a total collection of Rs 181 crore from 10,647 applications.
  • Stylam Industries: Indian customs has certified Stylam lndustries in its Authorized Economic Operator programme. The said certificate is valid till December 20, 2023.

Pledge Share Details

  • Steel Strips Wheels: Promoter Chandigarh Developers revoked pledge of 84,000 shares on January 1.
  • India Cements: Promoters Prince Holdings (Madras) and Anna Investments revoked pledge of 90 lakh shares on Dec. 31.

As Reported On January 4.

Bulk Deals

  • Filatex India: Chetan Rasiklal Shah bought 12 lakh shares (0.54%) at Rs 47.68 per share and sold 11.40 lakh shares (0.52%) at Rs 50.3 per share. Chaturveda Advisory Services sold 62.20 lakh shares (2.82%) at Rs 47.62 per share.
  • Biofil Chemicals & Pharma: Alpha Leon Enterprises sold 1.21 lakh shares (0.74%) at Rs 192.15 per share.
  • Zen Technologies: Triton Trading Company bought 4.03 lakh shares (0.51%) at Rs 94.76 per share and sold 70,000 shares at Rs 98.27 per share.

Trading Tweaks

  • Ex Date Interim Dividend: Gateway Distriparks, Abans Enterprises.
  • Price Band Revised From 20% To 10%: TIPS Industries
  • Move Out Of Short-term ASM Framework: Datamatics Global Services, L&T Technology Services, Kuantum Papers.
  • Move In To ASM Framework: Jaiprakash Associates

Insider Trades

  • Bajaj Auto: Promoter Rajivnayan Bajaj acquired 15,000 shares on December 31.
  • ISGEC Heavy Engineering: Promoter The Yamuna Syndicate acquired 12,331 shares between December 30-31.

As Reported On January 4.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.