Stocks To Watch: Bandhan Bank, RBL Bank, SBI, Zee Entertainment

Asia stocks drifted in early trading Tuesday after the S&P 500 Index failed at another attempt to break a record high amid an impasse over U.S. stimulus measures. The dollar held declines. Equity benchmarks fluctuated in Australia, Japan and South Korea. U.S. futures edged higher.

Here are the stocks to watch in trade today:

• Bandhan Bank: RBI removed regulatory restriction after promoter diluted stake. The regulator has removed restrictions on approval for outlets. It has also lifted restrictions on CEO’s pay.
• Telecom stocks: Supreme Court adjourns telecom dues case to Aug. 19.
• RBL Bank to consider raising of funds by issuing equity shares on a preferential basis on Aug. 20.
• Delta Corp: Temporary suspension of operations has had an impact on the revenue of casino and hospitality business but the online skill gaming business continues to operate and grow, the company said. Normalcy could be gradually restored during the financial year ending March 2021.
• Triveni Engineering: Approved Rs 65 crore buyback through the tender offer process at a price of Rs 105 per share.
• DCB Bank: RBI approved the re-appointment of Nasser Munjee as Non-Executive Part-Time Chairman, for a further period of one year from Aug. 19, 2020.
• Reliance Communications lawyer says UV ARC plans to take over company and monetise assets. Lenders to get Rs 15,140 crore of bonds redeemable in 3-5 years. (Source: Bloomberg)
• SBI Cards raises Rs 500 crore via 5.75% 2023 bonds.
• Canara Bank to exercise the call option for the redemption of 8.62% unsecured redeemable subordinate non-convertible upper tier-II bonds series III amounting to Rs 1,000 crore subject to approval from RBI. Sets Aug. 28 as the record date for the purpose of ascertaining the name of bondholders eligible to receive the interest or principal due on the bonds.
• SEBI has imposed a penalty aggregating to Rs 10 Lakh on State Bank of India for non-compliance of mutual fund regulations with the directions issued by the SEBI in the case of holding, more than prescribed limit, equity shares of UTI AMC Ltd and UTI Trustee Company Pvt. Ltd.
• Tata Steel fixes Aug. 28 as the record date for redemption of commercial papers worth Rs 1,150 crore.
• ICRA Ratings assigned AA- rating to Punjab National Bank's Base III Compliant Tier II bonds and Basel II compliant lower Tier II bonds. Revises outlook to stable on Basel III compliant tier II bonds and infrastructure bonds.
• Delhi High Court directs that placing Reliance Home Finance and Reliance Commercial Finance in the category of "Fraud" shall be kept in abeyance. No step prejudicial to the interest of the company shall be taken till the next hearing on Sept. 29, 2020. A writ petition was filed by the company challenging the wrongful action of Bank of Baroda, the lender and lead bank of the consortium, of classifying the company's account as fraud.
• Quess Corp to disinvest 100% stake in its wholly-owned subsidiary Dependo Logistics Solutions Private Limited in an all-cash deal. The transaction is expected to be completed by Aug. 20.

Earnings Reaction

Petronet LNG (YoY)

• Revenue down 43% at Rs 4883.6 crore.
• Ebitda down 11% at Rs 909.9 crore.
• Ebitda margins at 18.6% versus 11.9%.
• Profit down 11% at Rs 499.8 crore.

Orient Paper & Industries (YoY)

• Revenue down 46% to Rs 81 crore versus 150 crore
• Net loss at Rs 17 crore versus profit of Rs 8 crore
• Ebitda loss of Rs 16 crore versus gains of Rs 18 crore

Earnings Today

• Zee Entertainment Enterprises
• Fertilizers and Chemicals Travancore
• Hindustan Aeronautics
• Indo Count Industries
• JK Cement
• KNR Constructions
• Uflex

Who’s Meeting Whom

• V-guard to meet ICICI Prudential on Aug. 18 and Nirmal Bang Securities on Aug. 19-20.
• Balkrishna Industries to meet Citigroup global markets India on Aug. 18.
• Tech Mahindra to meet Edelweiss India on Aug. 18, Goldman Sachs on Aug. 19 and Investors on Aug. 20 and 21.
• Emami to meet Edelweiss India on Aug. 18, Kotak consumer on Aug. 19 and MOSL on Sept. 2.

Bulk Deals

CG Power

• Singularity Holding Ltd buys 35 lakh shares (0.6%) at Rs 13.95 each
• Blue Diamond Properties Pvt Ltd buys 4.12 crore shares (6.6%) at Rs 13.97 each
• L&T Finance sold 5.26 crore shares (8.4%) at Rs 13.95 each

Mcleod Russel

• IndusInd Bank sold 22 lakh shares (2.1%) at Rs 17.78 each

Rushil Décor

• Aspire Emerging Fund sold 75,000 shares (0.5%) at Rs 105 each

Trading Tweaks

Circuit Filters Revised

• Redington: 20% to 10%
• Hind Rectifiers: 10% to 5%
• Vimta Labs: 20% to 5%
  
• AGM Date: Indorama Synthetics, United Breweries, Can Fin Homes, Alkem Lab, Bharti Airtel, Kotak Mahindra Bank, Oracle Financial Services, Somany Ceramics.
• Move Into ASM Framework: Jindal Stainless (Hisar), Balaji Amines, Bartronics, Reliance Naval and Engineering.
• Move Into Short Term ASM Framework: Nitco, Dynamatic Technologies
• Move Out Of Short Term ASM Framework: Sunteck Realty, OnMobile Global, Marksans Pharma

F&O Cues

• Nifty August futures closed at 11,281; premium of 34 points versus premium of 8 points
• Nifty August futures open interest up 0.03%, adds 3,400 shares in open interest
• Nifty Bank August futures closed at 21,785; premium of 84 points versus discount of 10 points
• Nifty Bank August futures open interest down 8%, sheds 1.2 lakh shares in open interest

Options

• Nifty PCR at 1.51

Nifty Monthly Expiry: Aug 20

• Max open interest on call side at 11,500 (26.4 lakh shares)
• Max open interest on put side at 11,000 (26.8 lakh shares)
• Active options: 11,200 Put (9.9 lakh shares), 11,800 Call (-10.4 lakh shares)

Nifty Monthly Expiry: Aug 27

• Max open interest on call side at 11,500 (21.4 lakh shares)
• Max open interest on put side at 11,000 (36.8 lakh shares)

Ban List

• In Ban: Ashok Leyland, Aurobindo Pharma, Bata India, BHEL, Glenmark Pharma, Vodafone Idea, JSPL, Manappuram Finance, SAIL, Sun TV and Vedanta
• New In Ban: JSPL and Sun TV