Stocks To Watch: Bandhan Bank, GM Breweries, Hero MotoCorp, ICICI Pru, Lakshmi Vilas Bank, RBL Bank, TCS, Wipro

Asian stocks followed their U.S. peers higher as investors mulled encouraging signs for Joe Biden in the presidential election race and what it could mean for stimulus. Treasuries steadied after yields pushed higher, while the dollar slipped. Shares climbed in Australia and South Korea, though were little changed in Japan.

Here are the stocks to watch in trade today:

• TCS: Board approved buyback of 5.33 crore shares (1.42% equity stake) at Rs 3,000 per share aggregating to Rs 16,000 crore. Buyback price is at a premium of 9.6% to the closing prices as on Oct.7. V. Ramakrishnan would be retiring from post of CFO with effect April 30, 2021 and will be replaced by Samir Sakaria. Salary hikes to be rolled from Oct.1
• Wipro: Board to consider buyback on Oct.13.
• Bandhan Bank Sept. Update: Advances up 20% at Rs 76,724 crore, on a year on year basis. And deposits up 34% at Rs 66,153 crore. Liquidity coverage ratio stands at 157% and collection efficiency stands at 92% across all loan categories.
• ICICI Pru Life Insurance April-Sept. Update: New business premium down 13.5% at Rs 4,456 crore. Annualized premium equivalent down 32.1% at Rs 2,288 crore.
• RBL Bank Sept. Update: Advances down by 3% at Rs 57,295 crore and deposits up 8% at Rs 64,529 crore. CASA deposits grew 21% to Rs 20,060 crore. Liquidity coverage ratio stands at 170.7%.
• Lakshmi Vilas Bank: Brickwork Ratings has downgraded the rating from BWR BB+ (credit watch with developing implications) to BWR B+ (credit watch with negative implications) for unsecured tier ii bonds of Rs 50.50 crore. The rating downgrade factors in the rejection of seven directors of the bank, including the interim managing director and chief executive officer of the bank, by the bank's shareholders. Bank's substantially weak capital position and very high levels of gross non-performing assets.
• Hero MotoCorp has launched Maestro Edge 125 Stealth will be available at a price of Rs 72,950 per unit in the upcoming festive season.
• Shriram City Union Finance: Care Ratings has downgraded ratings for NCDs and fixed deposits from CARE AA+ to CARE AA, outlook changed from to stable from negative. The revision in the long-term rating assigned to the various debt instruments of the company factors in relatively high NPA levels with Stage Ili assets of 7.90% as on March 31 even after considering moratorium benefit given to borrowers.
• Infosys has announced automated data science platform to support public health agencies.
• Asian Granito to consider share split from Rs 10 to Rs 2 of the face value and raise funds via equity issue on Oct.23.
• Future Consumer: Care Ratings has reaffirmed NCDs worth Rs 20 crore as CARE D (Default).
• S.Chand is looking to raise funds for its EdTech Platforms, which includes both school and student solutions from investors. For this purpose, the Company has retained LoEstro Advisors LLP, a Hyderabad based firm specializing in transaction advisory in the education space.
• CG Power defaulted in fund based working capital, non-fund based working capital and term loans worth Rs 1,193 crore which were due on Aug.27, 2019. Lenders include Axis Bank, Yes Bank, ICICI Bank, Barclays Bank, IndusInd Bank, Bank of India, SBM Bank, SCB and Aditya Birla Finance. Total borrowings from banks and financial institutions stood at Rs 3,004 crore as on Sept.30 .
• Wonderla Holidays has named Arun Chittilappily as managing director with immediate effect. Kochouseph Chittilappilly appointed as chairman emeritus.
• Indian Bank reduced MCLR by 5 basis points across various tenors with effect from Oct.10. One month MCLR at 7.35% and one year MCLR at 7.50%.

Nifty Results

TCS Q2 (Consolidated, QoQ)

• $ Revenue up 7.11% at $5,420 million (Est $5,339 million)
• Revenue up 4.73% at Rs 40,135 crore (Est Rs 39,133 crore)
• Net profit up 6.66% at Rs 7,475 crore (Est Rs 7,946 crore)
• Ebit up 16.2% at Rs 10,515 crore (Est Rs 9,532 crore)
• Margins seen at 26.2% versus 23.6% (Est 24.4%)
• Constant currency growth at 4.8% (Est 2.5-2.5%)
• Declared Dividend at Rs 12 per share (Record Date Oct.15)
• Exceptional loss of Rs 1,218 crore due to legal claims
• Growth led by BFSI and Retail Segments

Earnings Today

• Prabhat Dairy
• GM Breweries
• 5paisa Capital

Pledged Share Details

• Apollo Pipes promoter Sameer Gupta created pledge of 4.95 lakh shares on Sept.25
• Uflex promoter Anshika Consultants revoked pledge of 3.5 lakh shares on Oct.1
• Future Enterprises promoters Central Departmental Stores invoked pledge of 2.82 crore shares on Oct.1
• Sun Pharma promoter Shanghvi Finance created pledge of 11.38 lakh shares on Oct.3

(As Reported On Oct.7)

Bulk Deals

• Srikalahasthi Pipes: Belgrave Investment Fund acquired 3.5 lakh shares (0.75%) at Rs 126.08 per share .

Trading Tweaks

• Buyback Announcement: Majesco
• Price Band Revised From 10% To 20%: Adani Transmission, Allsec Technologies, Alphageo, AGC Networks, Avadh Sugar & Energy, Caplin Point Laboratories, Cholamandalam Financial Holdings, D B Realty, Dwarikesh Sugar Industries, eClerx Services, Elgi Equipments, Goa Carbon, Graphite India, Indiabulls Real Estate, IDBI Bank, IFB Agro Industries, Indiamart Intermesh, INEOS Styrolution India, Indian Overseas Bank, Jay Bharat Maruti, The Jammu & Kashmir Bank, Jubilant Industries, Laurus Labs, Madras Fertilizers, Magma Fincorp, Mahindra CIE Automotive, MT Educare, Nahar Poly Films, Olectra Greentech, Orissa Minerals Development, Quess Corp, Redington, Religare Enterprises, Saregama, Shriram City Union Finance, Speciality Restaurants, Suven Life Sciences, Tube Investments, Titagarh Wagons, Unichem Laboratories, Valiant Organics, Varroc Engineering, Vipul, VA Tech Wabag, Zuari Global.
• Price Band Revised From 5% To 10%: Aarti Drugs, Andhra Cements, Aries Agro , Ashiana Housing, Birla Tyres, Oswal Chemicals & Fertilizers, Borosil Renewables, Datamatics Global Services, Dishman Carbogen Amcis, Den Networks, DFM Foods, DHFL, Dish TV India, Ducon Infratechnologies , Entertainment Network, Future Lifestyle Fashions, Future Retail, Future Supply Chain Solutions, GE T&D India, Globus Spirits, HCL Infosystems, Hindusthan National Glass & Industries, Hind Rectifiers, Infibeam Avenues, Jain Irrigation Systems, Kaya, Khadim , KIOCL, Lemon Tree Hotels, MEP Infrastructure Developers, Nagarjuna Fertilizers and Chemicals, Neogen Chemicals, Reliance Capital, Som Distilleries & Breweries, Shakti Pumps ,Shree Pushkar Chemicals & Fertilisers, Sical Logistics, SMS Lifesciences ,Suzlon Energy, Tejas Networks , Tilaknagar Industries, Weizmann, Welspun Corp, Zuari Agro Chemicals.
• Price Band Revised From 5% To 20%: Ester Industries, Expleo Solutions, Morepen Laboratories, Munjal Showa, Network18 Media & Investments, Repco Home Finance, Sadbhav Engineering, Skipper, Wockhardt.
• Move Into ASM Framework: S. P. Apparels, InfoBeans Technologies.
• Move Into Short Term ASM Framework: Srikalahasthi Pipes, GSS Infotech, Banswara Syntex.
• Move Out Of Short Term ASM Framework: GMM Pfaudler, Shree Rama Multi-Tech, Pearl Polymers.

Insider Trades

• Grasim Industries promoter Kumar Mangalam Birla acquired 5 lakh shares on Sept.30

(As Reported On Oct.7)

F&O Cues

• Nifty October futures closed at 11,756; premium of 17 points vs premium of 10 points
• Nifty October futures Open Interest up 4%, adds 3.6 lakh shares in Open Interest
• Nifty Bank October futures closed at 23,011; premium of 46 points vs premium of 56 points
• Nifty Bank October futures Open Interest up 1%, sheds 21,000 shares in Open Interest

Options

• Nifty PCR at 1.51

Nifty Monthly Expiry: Oct. 8

• Max Open Interest on call side at 11,800 (36.7 lakh shares)
• Max Open Interest on put side at 11,500 (34.6 lakh shares)
• Active options: 11,700 Put (21.3 lakh shares), 11,600 Call (-10lakh shares)

Nifty Monthly Expiry: Oct. 29

• Max Open Interest on call side at 12,000 (19.3 lakh shares)
• Max Open Interest on put side at 10,500 (35.4 lakh shares)