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Stocks To Watch: Bandhan Bank, Indiabulls Housing Finance, Jindal Stainless, Praj Industries, SBI, Sobha, Yes Bank  

Stocks in the news, big brokerage calls of the day, complete trade setup and much more! 

A woman pours freshly brewed tea into a cup. (Photographer: Taylor Weidman/Bloomberg)
A woman pours freshly brewed tea into a cup. (Photographer: Taylor Weidman/Bloomberg)

U.S. stock futures dropped in early Asian trading and the dollar added to its gains in a sign of continuing financial stress, though some Asia-Pacific equities advanced as investors took stock of stimulus measures. Futures were higher in Hong Kong and Australian and Korean stocks gained after the S&P 500 Index closed slightly higher Thursday. Japan’s markets are shut Friday for a holiday.

Here Are The Stocks To Watch Out For In Today’s Trade

  • Indiabulls Housing Finance clarified after the investigation of Rana Kapoor’s property that it has no loan outstanding from Yes Bank, and Rana Kapoor and family had mortgaged the property to the company in November 2017 and it gave a loan of Rs 285 crore on the property. Additionally, Indiabulls Housing took personal guarantee of Rana Kapoor and family whose net worth at the time of taking the loan was over Rs.7,000 crore as per their holdings in Yes bank.
  • Anil Ambani clarified Reliance ADAG Group’s exposure to Yes Bank to enforcement directorate officials. As per the press release, Group’s entire exposure to Yes Bank is fully secured and transacted in the ordinary course of business. All transactions between the Reliance Group and Yes Bank are in compliance with the law and financial regulations. Reliance Group has no direct or indirect exposure to Rana Kapoor or his wife or daughters or any entities controlled by Rana Kapoor or his family.
  • Bandhan Bank said that in its conference call that in the worst-case scenario of complete lockdown for 15-20 days will stop the disbursements and collection (similar to when a calamity occurs) and some withdrawal in government entities deposits (less than 1 percent of deposits) due to Yes Bank fiasco. Bank said that has no issues with group meetings as of now and has made few changes to the overall process.
  • SBI: Board to consider extension of approval for raising equity capital up to Rs 20,000 crore (till March 2021) on March 27.
  • Sobha: Board approved the issue of debentures up to Rs 270 crore by way of a private placement.
  • CreditAccess Grameen has completed the acquisition of a 75.64 percent stake in Madura Micro Finance.
  • Praj Industries to consider share buyback on March 27.
  • Rites: Board has decided to close its joint venture agreement with BNV Gujarat Rail
  • IndInfravit Trust has completed 100 percent acquisition in eight operational road projects of Sadbhav Infra Projects, which has an enterprise value of Rs 6300 crore. One road project is still left to be acquired subject to regulatory approvals.
  • Jindal Stainless clarified that there is no loan raised against promoter’s pledged shares and the current erosion of in share price has not triggered any margin requirements or calls by lenders.
  • Bank of Baroda has announced zero charges on digital transactions for 3 months.
  • V-Mart Retail has opened three new stores in Rajasthan and Uttar Pradesh.
  • Syngene International has commenced operations at its new manufacturing facility at Mangalore.
  • ICICI Lombard Insurance has launched a dedicated insurance cover for coronavirus, in group insurance mode. The health cover is priced at a premium of Rs 149 and provides a sum insured of Rs 25,000 for ages 18-75. The company will pay out the entire sum insured, in a lump sum in the event of the first diagnosis of COVID-19 during the policy period.

Bulk Deals

  • Mphasis: Promoter Marble II acquired 38.71 lakh shares (2.08 percent) at Rs 699.81 per share
  • Justdial: Copthall Mauritius Investment acquired 3.92 lakh shares (0.60 percent) at Rs 331.19 per share

Trading Tweaks

  • Granules India record-date for share buyback
  • Syndicate Bank, Allahabad Bank, Andhra Bank, Corporation Bank ex-date for amalgamation
  • Avadh Sugar & Energy, MPS to move into ASM Framework
  • Gujarat Apollo Industries, Shriram City Union Finance, Arvind Fashions, IFGL Refractories, KPIT Technologies, JSW Holdings, Greenpanel Industries to move into short term ASM Framework
  • Speciality Restaurants, Repco Home Finance, Future Lifestyle Fashions, Greenlam Industries, Inox Wind, Power Mech Projects, AU Small Finance Bank, Aditya Birla Capital, MAS Financial Services, Aster DM Healthcare, KPIT Technologies, IIFL Wealth Management, Tata Motors (DVR), Tata Elxsi, IFB Industries, SML Isuzu, VIP Industries, ITD Cementation, Jai Corp, Lumax Industries, Premier Explosives, Heritage Foods, Taj GVK Hotels & Resorts, Birlasoft, INOX Leisure, TV18 Broadcast, NBCC price band revised to 10 percent
  • Spicejet, Shakti Pumps, Take Solutions, Mastek, Magma Fincorp, Adani Transmission, Delta Corp price band revised to 5 percent.

Who’s Meeting Whom

  • Affle (India) to meet Edelweiss AMC and Malabar Investment on March 20
  • Great Eastern Shipping to meet Franklin Templeton on March 20

Insider Trading

  • NCC promoters acquired 2 lakh shares on March 16
  • JMC Projects promoter Kalpataru Power Transmission acquired 72,771 shares on March 18
  • Hubtown promoter group Khilen Shah acquired 1.60 lakh shares on March 17
  • Man Infra promoter Parag Shah acquired 1.75 lakh shares on March 18

(As Reported On March 19)

Money Market Update

The rupee ended weaker at Rs 75.07 against the dollar on Thursday versus Rs 74.26 against the dollar on Wednesday.

F&O Cues

Index Futures

  • Nifty March futures closed at 8205.9, a discount of 57.5 points versus 35 points
  • Nifty March futures open interest feel 6 percent, shed 8.7 lakh shares in open interest
  • Nifty Bank March futures closed at 20,028.5, a discount of 55 points versus 62 points
  • Nifty Bank March futures open interest fell 12 percent, sheds 1.5 lakh shares in open interest

Options

  • Nifty PCR at 1.14 versus 0.95 (across all series)

Nifty Monthly Expiry: March 26

  • Max open interest on call side at 12,000 (21.4 lakh shares)
  • Max open interest on put side at 9,000 (16.7 lakh shares)
  • Open interest addition was seen in 7,500 P (8 lakh shares), 9,000 C (4.8 lakh shares), 8,500C (4.6 lakh shares)

Securities In Ban

In Ban

  • None
Stocks To Watch: Bandhan Bank, Indiabulls Housing Finance, Jindal Stainless, Praj Industries, SBI, Sobha, Yes Bank