Stocks To Watch: Bharat Dynamics, Eveready, Future Consumer, IRCTC, Wipro

Asian stocks opened lower and U.S. futures retreated amid worries that a Covid-19 vaccine could be delayed and concern about equity valuations. The dollar and Treasuries extended gains. Shares in Japan and South Korea retreated, though losses were shallower than the slide in U.S. equities overnight. S&P 500 futures fell amid concern progress at AstraZeneca Plc has stalled in the hunt for a coronavirus vaccine.

Here are the stocks to watch in trade today:

• Wipro to set up digital innovation hub in Dusseldorf, Germany. The proposed hub will serve as company’s flagship centre in Europe and will offer digital transformation expertise to companies in Germany.
• Cabinet has approved asset monetization of subsidiaries of Power Grid Corporation through Infrastructure Investment Trust. Proceeds from the asset monetization could be utilized for fresh investment in the transmission network expansion and other capital schemes.In the first block, Power Grid Corporation would be able to monetize 5 Tariff Based Competitive Bidding assets of gross block of Rs 7,164 crore.
• Happiest Minds Technologies: IPO subscribed 8.40 times on Day 2.Institutional subscription at 0.47 times. Non-institutional investor subscription at 3.96 times. Retail subscription at 38.85 times. Institutional category doesn’t include anchor portion.
• Route Mobile IPO: Anchor investors have been allocated 51.43 lakh shares at an allocation price of Rs 350 per share aggregating to Rs 180 crore to 15 investors. Investors include SBI MF, Nippon India, ICIC Pru, Goldman Sachs, Franklin Templeton, Kuwait Investment Authority, Vantage Equity and Wells Capital. Issue for retail, HNI’s and qualified institutional buyers open on Sept.9.
• Edelweiss Financial Services’ arm Edelweiss Broking is exploring various alternatives to expand its client base and has entered into non-disclosure agreement with target entities.
• Bharat Dynamics OFS to non-retail investors gets 1.4 times the demand on Sept.10.Government to exercise the over-subscription option. Retail investors get chance to bid on Sept.9 with a discount of Rs 20 per share on the cut off price.
• IDBI Bank has sold remaining 10.26 lakh shares (0.21%) of National Stock Exchange of India.
• NTPC has signed pact to implement 47 solar project overseas and will add 5GW solar capacity in next 2 years.
• JSPL: Manging director VR Sharma stated in the annual report that company is confident of producing 7-7.5 million tons in fiscal 2021, which represent as 15% volume growth for its standalone business. Long products may witness string demand in the second half of 2020 with lockdown easing and government spend rising.
• Indian Hume Pipe received work order of Rs 134.8 crore from Odisha government for rural water supply projects.
• TeamLease Services increased its stake from 40% to 76.37% in edu-tech company Schoolguru.

Other Earning

Dishman Carbogen Amcis Q1 (Consolidated, YoY)

• Revenue down 9.1% at Rs 474.4 crore
• Net loss at Rs 21.4 crore versus Net profit at Rs 34.3 crore
• Ebidta down 63.9% at Rs 43.1 crore
• Margins at 9.08% versus 22.9%

Future Consumer Q1 (Consolidated,YoY)

• Revenue down 63.7% at Rs 380.5 crore
• Net loss at Rs 68.4 crore versus Net loss at Rs 14.9 crore
• Ebidta loss at Rs 27.9 crore versus Ebidta gain at Rs 35.9 crore

Earnings Today

• Eveready
• Indiabulls Ventures
• Shriram EPC

Pledged Share Details

• Ajanta Pharma promoter Aayush Agrawal created pledge of 5 lakh shares on Sept.7
• Max India promoter Max Venture Investment Holdings released pledge of 7 lakh shares on Sept.4
• Emami promoters released pledge of 46.81 lakh shares from Sept.7-8
• JSW Steel promoter JTPM Metal Traders created pledge of 35 lakh shares from Sept.2-5
• JSPL promoters revoked pledge of 16.5 lakh shares from Aug.27-Sept.3
• Jamna Auto promoter Pradeep Jauhar created pledge of 8.5 lakh shares on Sept.4
• Adani Transmission promoter SB Adani Family Trust released pledge of 4.5 crore shares on Sept.7

(As Reported On Sept.8)

Who’s Meeting Whom

• Indraprastha Gas to meet Principal Asset Management, Hong Kong on Sept.11
• Mahindra Holidays & Resorts to meet Motilal OMC, Bavaria Group and Tata MF from Sept.9-11

Bulk Deals

• Strides Pharma Science: Brookdale Mauritius sold 6.26 lakh shares (0.70%) at Rs 612 per share and Societe Generale acquired 6.26 lakh shares (0.70%) at Rs 612 per share.
• Future Consumer: Enam Finance sold 1 crore shares (0.52%) at Rs 10.13 per share.
• Future Supply Chain Solutions: Dhunseri Ventures sold 2.28 lakh shares (0.52%) at Rs 129.2 per share and Edelweiss MF sold 4.22 lakh shares (0.96%) at Rs 129.33 per share.
• Tejas Networks: Mayfield Mauritius sold 53.68 lakh shares (5.81%) at Rs 67.19 per share

Trading Tweaks

• AGM Date: Allcargo Logistics, Astra Microwave, Century Ply, Ashoka Buildcon, KEI Industries, Sagar Cement, Shilpa Medicare, Music Broadcast, Supreme Industries, HSIL, Shipping Corporation,
• Price Band Revision From 10% To 5%: Ksolves, R.S. Software.
• Price Band Revision From 20% To 10%: Indiamart Intermesh.
• IPO Issue Opens: Route Mobile.
• IPO Issue Closes: Happiest Minds Technologies.
• Move Into ASM Framework: Automotive Stampings and Assemblies,
• Move Into Short Term ASM Framework: AstraZeneca Pharma, Future Retail, Tata Motors DVR, Cheviot, HLE Glascoat, NHC Foods.
• Move Out Of Short Term ASM Framework: Repco Home Finance, Shree Rama Multi-Tech, Manaksia Coated Metals & Industries.

Insider Trades

• JSW Steel promoter JTPM Metal Traders acquired 15.25 lakh shares from Sept. 3-7
• Alembic promoter Nirayu acquired 1.22 lakh shares on Sept. 4
• Jamna Auto promoter Map Auto acquired 2.45 lakh shares on Sept. 4
• Trident promoter Trident Capital acquired 15 lakh shares on Sept.7
• Mindtree promoters sold 2.1 lakh shares from Sept. 3-4
• IRB Infra Developers promoter Virendra Mhaiskar acquired 3.6 lakh shares on Sept. 4-7

(As Reported On Sept.8)

F&O Cues

• Nifty September futures closed at 11,302; discount of 15 points versus premium of 35 points
• Nifty September futures Open Interest down 2%, sheds 2 lakh shares in Open Interest
• Nifty Bank September futures closed at 22,657; discount of 87 points versus premium of 70 points
• Nifty Bank September futures Open Interest adds 10%, sheds 1.4 lakh shares in Open Interest

Options

• Nifty PCR at 1.32

Nifty Monthly Expiry: Sept 10

• Max Open Interest on call side at 11,600 (33 lakh shares)
• Max Open Interest on put side at 11,000 (31.1 lakh shares)
• Active options: 11,000 Put (5 lakh shares), 12,000 Call (-7.6 lakh shares)

Nifty Monthly Expiry: Sept 24

• Max Open Interest on call side at 11,500 (20.2 lakh shares)
• Max Open Interest on put side at 11,000 (29.8 lakh shares)