Stocks To Watch: Bank Of Maharashtra, Kotak Mahindra Bank, Tata Steel, TCS
A television screen shows footage of the New York Stock Exchange, in Frankfurt, Germany. (Photographer: Alex Kraus/Bloomberg)

Stocks To Watch: Bank Of Maharashtra, Kotak Mahindra Bank, Tata Steel, TCS

Indian equity markets remained sideways for the third straight day, ending with modest gains but registering another record high.

The S&P BSE Sensex ended with gains of 0.34% at 46,253 while the NSE Nifty index ended 0.33% higher at 13,558. Both the benchmark indices ended higher for the second straight day.

Here are the stocks to watch in trade today:

  • Kotak Mahindra Bank: RBI granted approval for the re-appointments of Uday Kotak as MD & CEO, Dipak Gupta as Joint MD and Prakash Apte as Part-time Chairman for a period of 3 years, with effect from January 1, 2021.
  • TCS: Has expanded its strategic partnership with Star Alliance to provide predictive and real-time business analytics, improve its customers’ overall experience and accelerate its digital transformation journey. The expanded partnership will see TCS leverage its domain expertise and contextual knowledge to deploy AWS technology around data analytics, business intelligence and machine learning to improve Star Alliance’s business performance and ability to innovate at scale.
  • Tata Steel: Has increased its aggregate indirect shareholding in Tata Steel Minerals Canada to 82%. The company acquired 4.32% additional equity in TSMC. Acquisition was done via share swap and other inter-company adjustments. Transaction done on a cashless basis and part of the share swap arrangement. Tata Steel through its indirect subsidiary TSMUK Ltd. held 77.68% equity share capital and 100% preference share capital of Tata Steel Minerals Canada.
  • Bank of Maharashtra: Raised capital of Rs 200.70 crore through private placement of 2,007 BASEL II Compliant Tier II Bonds of Rs 10 lakh each. The maturity date is December 13, 2030.
  • Shriram City Union Finance: The Banking and Securities Management Committee of the company has approved the issue of Principal Protected Market Linked (PP-MLD) Non-Convertible Debentures of face value of Rs 10 lakh each for an amount of Rs 100 crore with green shoe option up to Rs 100 crore aggregating up to 2,000 NCDs amounting to Rs 200 hundred crore in one or more tranches either as fully paid up or partly paid-up on Private Placement basis.
  • Computer Age Management Services: Has incorporated a wholly owned subsidiary with the name CAMS Payment Services. The subsidiary will be making an application to the RBI for being registered as a payment aggregator. Once the approval comes through, the payment aggregator business will be undertaken only by CAMS Payment.
  • EPL: Has allotted 500 Non-Convertible Debentures of face value of Rs 10 lakh each on a private placement basis aggregating to Rs 50 crore. The coupon rate has been fixed at 6.50%.
  • Borosil Renewables: The Directorate General of Trade Remedies, Ministry of Commerce & Industry, has issued final findings for imposition of Countervailing duty of 9.71% of CIF value for a period of 5 years on imports from Malaysia of textured, tempered, coated or uncoated glass. Gujarat Borosil had made an application to the Directorate General of Trade Remedies for imposition of Countervailing Duty on imports from Malaysia of textured, tempered, coated or uncoated glass, of which the company is the sole manufacturer in India.
  • JSW Steel: The board of directors of Periama Holdings, a wholly owned indirect subsidiary of JSW Steel, have approved the issuance of $250 million aggregate principal amount of its 5.95% notes due 2026 which are guaranteed by the company.
  • Indian Bank: Has further raised Tier 1 Capital Fund through Private Placement of Basel Ill compliant AT 1 Perpetual Bonds aggregating to Rs 560 crore at a coupon of 8.44% per annum payable annually. The issuance/placement of bonds has been completed by the bank through BSE-EBP.

Pledge Share Details

  • Adani Enterprises: Promoters (Gautam S. Adani, Rajesh S. Adani and Adani Tradeline) revoked pledge of 94.98 lakh shares between December 10-11.
  • Adani Ports And Special Economic Zone: Promoter Adani Tradeline created a pledge of 23.39 lakh shares between December 10-11.
  • Adani Transmission: Promoters (Gautam S. Adani and Rajesh S. Adani) revoked pledge of 1.14 crore between December 10-11. Promoter Adani Tradeline created a pledge of 38.98 lakh shares between December 10-11.
  • SMS Pharmaceuticals: Promoter Potluri Infra Projects created a pledge of 8 lakh shares on December 7. As reported on December 14.

Who’s Meeting Whom

  • 5paisa Capital: To meet Alchemy Capital on December 15. Gland Pharma: To meet Axis AMC on December 15.
  • Symphony: To meet Principal Asset Management on December 16.
  • Tata Steel: To meet Schroders Investment Management and CLSA India on December 16.
  • Eicher Motors: To meet Sengatii Capital on December 15 and Kotak MF on December 17.
  • Max Healthcare Institute: To meet UBS Securities on December 17.
  • Mahindra Lifespace Developers: To meet JM Financials on December 15 and Goldman Sachs on December 17.
  • Voltas: To meet Edelweiss Management e-Connect on December 16.
  • Cipla: To meet GIC on December 15 and Capital Research Global Investors on December 18.

Bulk Deals

  • Burger King India: Valiant Mauritius Partners Offshore bought 25 lakh shares at Rs 130.28 per share. Basant Maheshwari Wealth Advisers LLP bought 24.31 lakh shares at Rs 112.79 per share.
  • Snowman Logistics: Adani Logistics sold 12.45 lakh shares (0.75%) at Rs 62.21.
  • Arvind SmartSpaces: Chaudhary Amitkumar S bought 1.87 lakh shares (0.53%) at Rs 111.63 per share.
  • Apollo Tricoat Tubes:Rajasthan Global Securities bought 2,409 shares (0.01%) at Rs 731.70 per share and sold 1.77 lakh shares (0.58%) at Rs 729.47 per share.

Trading Tweaks

  • AGM: Arihant Foundations & Housing, Mahamaya Steel Industries, Panacea Biotec, Prakash Steelage, Cubex Tubings, Radaan Mediaworks India, MMTC.
  • Price Band Revised From 10% To 5%: Birla Tyres.
  • Ex Stock Split (From Rs 10 to Rs 2): APL Apollo Tubes
  • Move In To ASM Framework: Jet Airways.
  • Move In To Short-term ASM Framework: Adani Power, The Anup Engineering, Manaksia, 3I Infotech.
  • Move Out Of Short-term ASM Framework: Olectra Greentech.

Insider Trades

  • Axis Bank: Promoter Specified Undertaking of The Unit Trust of India sold 33.36 lakh shares between 10-14.
  • Filatex India: Promoter Anu Bhageria acquired 6.50 lakh shares between December 10-11.
  • Ashapura Minechem: Promoter Ashapura Industrial Finance acquired 1 lakh shares on December 11.
  • Great Eastern Shipping: Promoter Gopali Mulji sold 56,000 shares between December 10-11.
  • Aarti Industries: Promoter Chandrakant Vallabhaji Gogri sold 38,500 shares on December 9. As reported on December 14.
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