Stocks To Watch: Bank Of Baroda, Hexaware, ICICI Bank, InterGlobe Aviation, Power Grid, Shree Cement, Titan
A runner jogs along the water’s edge at sunrise. (Photographer: Brendon Thorne/Bloomberg)

Stocks To Watch: Bank Of Baroda, Hexaware, ICICI Bank, InterGlobe Aviation, Power Grid, Shree Cement, Titan

Asian stocks opened modestly firmer Tuesday after a lackluster session on Wall Street. Crude oil extended gains and the dollar was near a one-week high. Japanese equities rose more than 1% as the market reopened after a holiday Monday. Australia and South Korea had more moderate gains.

Here are the stocks to watch in trade today:

  • ICICI Bank has launched QIP issue at Rs 351.36 per share on Aug.10. As per SEBI regulation, company may offer a discount of not more than 5% on the floor price. Board to meet on Aug. 14 to determine issue price for equity shares to be allotted. Floor price is at a discount of 3.4% to the closing prices as on Aug. 10. As per terms seen by Bloomberg, ICICI Bank is raising as much as Rs 15,000 crore at Rs 355-358 per share, selling between 41.9-42.3 crore shares. Price range is at 1.53%-2.35% discount to the closing price of Aug. 10.
  • Kotak Mahindra Bank stated in a press release that it has achieved compliance with promoter shareholding reduction requirement as per RBI’s directives, and within the timeline prescribed by RBI.
  • InterGlobe Aviation: Board approved raising up to Rs 4,000 crore through an issue of equity shares by way of a qualified institutions placement, to approval of the company's shareholders and receipt of applicable regulatory approvals.
  • Titan has setup a commodity trading unit named as Titan Commodity Trading. The unit will register as a member of commodity exchanges.
  • Bank of Baroda has lowered overnight MCLR by 15 basis points to 7% with effect from Aug.12.
  • Som Distilleries and Breweries: Karst Peak Master Fund (along with Vermillion Peak Master Fund) reduced stake from 9.51% to 8.77% on Aug.5
  • Cupid has received U.S. FDA approval for additional four variants of the company’s male contraceptives to market them in US market.
  • Triveni Engineering: Board approved share buyback of 61.9 lakh shares (2.5% equity stake) at Rs 105 per share aggregating to Rs 65 crore. Aug. 28 is the record date for the buyback. Buyback price is a 48% premium to the closing prices as on Aug.10.
  • Gufic Biosciences has made application to NCLT for amalgamation of its arm Gufic Lifesciences with self. On Sept. 15, company will hold meeting for shareholder nod for the aforementioned amalgamation. Company has entered into a loan license agreement with Hetero Labs to manufacture and supply Remdesivir Lyophilised Powder for injection on loan license basis to Hetero for its sale in various countries including India. Both afore-mentioned entities have a combined capacity of 50 million vials per annum.
  • Prestige Estates Projects clarified that it regularly evaluates various opportunities for restructuring, investments or divestments in the course of its business.
  • CSB Bank has appointed Madhavan Aravamuthan as part time chairman of the bank till June 2022.
  • Parag Milk Foods: Stichting Depositary APG Emerging Markets Equity Pool reduced stake from 5.27% to 3.06% on Aug. 6.
  • Bank of India: Board to consider raising capital via issue of share and bonds etc. on Aug. 13

Nifty Earnings

Titan Q1 (Standalone, YoY)

  • Revenue down 62.3% at Rs 1,862 crore versus Rs 4,939 crore (Est Rs 1,815 crore)
  • Net loss at Rs 270 crore versus Net profit at Rs 371 crore (Est Net loss at Rs 117 crore)
  • Ebitda loss at Rs 246 crore versus Ebidta gain at Rs 565 crore (Est Ebidta loss at Rs 49.6 crore)

Shree Cement Q1 (Standalone, YoY)

  • Revenue down 23.4% at Rs 2,325.8 crore (Est Rs 2,309.1 crore)
  • Net profit up 2.1% at Rs 370.8 crore (Est Rs 228.4 crore)
  • Ebidta down 22.3% at Rs 700.6 crore (Est Rs 709.3 crore)
  • Margins at 30.1% versus 29.7% (Est 30.1%)
  • Sales volume down 17.7% at 4.79 MT (Est 4.97 MT)
  • Ebitda/ tonne down 5.6% at Rs 1,462 (Est Rs 1,427)

Power Grid Corporation of India Q1 (Standalone, YoY)

  • Revenue up 2.1% at Rs 8,988.7 crore (Est Rs 8,780.7 cr)
  • Net profit down 18.5% at Rs 1,978.9 crore (Est Rs 2,150 cr)
  • Ebidta down 0.25% at Rs 7,877.1 crore (Est Rs 7,623.6 cr)
  • Margins at 87.65% versus 89.7% (Est 88.6%)
  • Net income impacted by one time rebate of Rs 1,075 crore passed to discoms and power departments of state/union territories on account of covid-19, against the billings of April and June

Other Earnings

Bank of Baroda Q1 (Standalone, YoY)

  • Net Interest Income up 7.6% at Rs 6,816 crore
  • Net Loss at Rs 864 crore versus Net profit at Rs 710 crore
  • GNPA at 9.39% versus 9.4% QoQ
  • NNPA at 2.83% versus 3.13% QoQ
  • Provisioning against standard accounts at Rs 1,811 crore for the current quarter
  • Term loan moratorium at 21% of total loan book

Sundaram Finance Q1 (Standalone, YoY)

  • Net Interest Income down 2.07% at Rs 424.9 crore
  • Net profit up 5.21% at Rs 165.7 crore
  • AUM at Rs 29,580 crore versus Rs 29,977 crore

Ujjivan Financial Services Q1 (Standalone, YoY)

  • Net interest income up 2.5% to Rs 474.13 crore
  • Net Profit down 6.2% to Rs 77.8 crore
  • Ujjivan Financial Services is the holding company for Ujjivan Small Finance Bank

Mangalam Drugs And Organics Q1 (Standalone, YoY)

  • Revenue up 59.4% at Rs 103.6 crore
  • Net profit up 11 times at Rs 8.3 crore
  • Ebidta up 2.5 times at Rs 13.7 crore
  • Margins at 13.2% versus 8.46%

HEG Q1 (Standalone, YoY)

  • Revenue down 71.4% at Rs 233.3 crore
  • Net profit down 95.4% at Rs 10.8 crore
  • Ebidta loss at Rs 11.2 crore versus Ebidta gain at Rs 347.8 crore

Quick Heal Technologies Q1 (Consolidated, YoY)

  • Revenue up 27.6% at Rs 73.5 crore
  • Net profit up 2.1 times at Rs 25 crore
  • Ebidta up 2.5 times at Rs 32.2 crore
  • Margins at 43.8% versus 22.4%
  • Margins improve due to lower other expenses, lower employee costs and higher revenue

V-Mart Retail Q1 (Standalone, YoY)

  • Revenue down 82.8% at Rs 78.1 crore (Est Rs 133 crore)
  • Net loss at Rs 33.6 crore versus Net profit at Rs 17.5 crore (Est Net loss at Rs 52 crore)
  • Ebidta loss at Rs 5.8 crore versus Ebidta gain at Rs 57.8 crore (Est Ebidta loss at Rs 20 crore)

Earnings Today

  • Adani Ports & SEZ
  • AIA Engineering
  • Ashoka Buildcon
  • Astron Paper & Board Mill
  • Bajaj Electricals
  • Birla Cable
  • Bosch
  • Capacit'e Infraprojects
  • Central Bank of India
  • Chalet Hotels
  • Galaxy Surfactants
  • GE Power India
  • Godawari Power And Ispat
  • Gujarat Alkalies and Chemicals
  • Indoco Remedies
  • JMC Projects
  • KRBL
  • Metropolis Healthcare
  • Minda Industries
  • Motherson Sumi Systems
  • Oracle Financial Services
  • Orient Green Power
  • Prataap Snacks
  • Rashtriya Chemicals and Fertilizers
  • RITES
  • RSWM
  • Sanghi Industries
  • Shriram City Union Finance
  • Somany Ceramics
  • Suven Life Sciences
  • Symphony
  • V.S.T Tillers Tractors

Pledged Share Details

  • Emami promoters released pledge of 84,100 shares on Aug. 6

(As Reported On Aug.10)

Who’s Meeting Whom

  • Dr. Lal Pathlabs to meet Batlivala & Karani Securities on Aug. 11.
  • BSE to meet CPP Investment Board on Aug.11.
  • Tata Communications to meet Birla Sunlife, Capital World and other investors from Aug.12-14.
  • Prince Pipes and Fittings to meet GEM Group, Siddhartha AMC and Crescita Investment Management from Aug. 11-12.
  • CG Consumer Electricals to meet Matthews International Capital Management on Aug. 11
  • Crisil to meet Highclere International Investors on Aug.17
  • India Energy Exchange to meet Centrum, Sageone Investments and other investors from Aug. 11-13.
  • Kilpest to meet IDFC Securities on Aug. 12

Bulk Deals

  • Eveready Industries: IndusInd Bank (client account) sold 32.47 lakh shares (4.47%) at Rs 150.36 per share and Anirudh Damani acquired 7.75 lakh shares (1.07%) at Rs 150.05 per share. Alert: Anirudh Damani is managing partner at Artha Ventures
  • Deccan Cements: UTI MF sold 75,000 shares (0.54%) at Rs 245 per share
  • Kilpest: Promoter Lenus Finvest acquired 40,000 shares (0.53%) at Rs 492.89 per share
  • TVS Motor: BNP Paribas Arbitrage acquired 35.48 lakh shares (0.75%) at Rs 417.05 per share and Goldman Sachs (Singapore) sold 35.48 lakh shares (0.75%) at Rs 417.05 per share

Block Deals

  • Axis Bank: BOFA Securities Europe acquired 35 lakh shares (0.12%) at Rs 429.5 per share and UBS Principal Capital Asia sold 35 lakh shares (0.12%) at Rs 429.5 per share.

Trading Tweaks

  • AGM Date: Cipla, Tata Motors, Titan, Shriram Transport Finance, Agro Tech Foods, Bank of India, Chalet Hotels, Credit Access Grameen, ICICI Securities, JMC Projects, Kirloskar Industries, Quick Heal Tech, Sonata Software.
  • Fund Raising: Minda Industries
  • Price Band Revised From 20% To 10%: Bharat Gears, RattanIndia Power
  • Move Into ASM Framework: Astec LifeSciences, JK Agri Genetics, Vanta Bioscience
  • Move Into Short Term ASM Framework: Suven Life Sciences, Jubilant Industries, Anant Raj, Xchanging Solutions.
  • Move Out Of Short Term ASM Framework: Anuh Pharma, Persistent Systems, Future Consumer, Capri Global Capital, Aimco Pesticides

Insider Trades

  • JSW Steel promoter JTPM Metal Traders acquired 11.4 lakh shares from Aug.5-6
  • SBI Cards and Payment Services promoter SBI Life Insurance sold 25,000 shares on Aug.7
  • Kotak Mahindra Bank promoter Kotak Trustee sold 15,200 shares on Aug.10

(As Reported On Aug.10)

F&O Cues

  • Nifty August futures closed at 11,294; premium of 24 points vs premium of 15 points
  • Nifty August futures Open Interest down 0.3%, sheds 35K shares in Open Interest
  • Nifty Bank August futures closed at 21,972, premium of 72 points vs premium of 41 points
  • Nifty Bank August futures Open Interest down 2%, sheds 26k shares in Open Interest

Options

  • Nifty PCR at 1.59

Nifty Monthly Expiry: Aug 13

  • Max Open Interest on call side at 11,500 (25.5 lakh shares)
  • Max Open Interest on put side at 11,000 (27.6 lakh shares)
  • Active options: 11,300 Put (7.5 lakh shares), 11,200 Call (-7.8 lakh shares)

Nifty Monthly Expiry: Aug 27

  • Max Open Interest on call side at 11,500 (21 lakh shares)
  • Max Open Interest on put side at 11,000 (29.9 lakh shares)

Ban List

  • In Ban: Canara Bank, Century Textile, Vodafone Idea, Muthoot Finance and Vedanta
  • New In Ban: Muthoot Financechie
Stocks To Watch: Bank Of Baroda, Hexaware, ICICI Bank, InterGlobe Aviation, Power Grid, Shree Cement, Titan
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