Stocks To Watch: Bharti Airtel, Hero MotoCorp, Infosys, Tata Motors, Tech Mahindra, Wipro
A man looks at a screen displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai. (Photo: Bloomberg)

Stocks To Watch: Bharti Airtel, Hero MotoCorp, Infosys, Tata Motors, Tech Mahindra, Wipro

Indian equities had a volatile trading session but managed to eke out gains as banking stocks staged a rebound in the second half. The S&P BSE Sensex ended 0.5% higher at 49,517. The index is now only 483 points away from the mark of 50,000. The NSE Nifty 50 index too ended with gains of 0.5% at 14,563. The index managed to reclaim the 14,500 mark after falling to an intraday low of 14,432.

Here are the stocks to watch in trade today:

  • Hero MotoCorp: Has expanded its presence in Central America. The company appointed new distributor partners in Nicaragua and Honduras, with aggressive expansion plans for both countries. Further the company will launch a range of premium motorcycles in both countries and expand its network with extensive customer touch-points and flagship stores in key markets.
  • Tech Mahindra: To acquire 100% shareholding of Payments Technology Services. Acquisition to be done for cash consideration of $9 million. The transaction is expected to be completed by March 31, 2021. Acquired capabilities in the payment space consistent with strategy of pivoting the business towards product & platform implementation, the company said.
  • Bharti Airtel: Has received approvals for its relevant downstream investments. Accordingly, the company has initiated the process to revise its foreign investment limit, as notified to its depositories, to 100% immediate effect.
  • Bharat Rasayan: The Board of Directors has approved the buyback of upto 93,472 shares of Rs 10 each, comprising of 2.20% of the total paid-up equity capital of the company, from the shareholders of the company at a price of Rs 11,500 per share, for an aggregate amount of Rs 107 crore. The floor price of Rs 11,500 per share is at a premium of 11.1% to Tuesday's closing price.
  • Tata Motors: Global wholesales rise to 2,78,915 units in Q3FY21, higher by 37% quarter-on-quarter and by 1% year-on-year. Global wholesales of all commercial vehicles and Tata Daewoo range declined by 4% to 90,365 units YoY. Global wholesales of all passenger vehicles rose by 4% to 1,88,550 units YoY. Further the company issued a clarification on reports of a partnership with Tesla. Tata Motors said it has not taken any decision regarding a strategic partner for its PV business and categorically denies any and all rumours suggesting the same.
  • BASF: The National Company Law Tribunal, Mumbai has sanctioned the Scheme of Merger by absorption of BASF Performance Polyamides India, a wholly owned subsidiary, with BASF India, effective February 1, 2021.
  • Dishman Carbogen Amcis: OFS for Non-retail investors gets demand for 66.8 lakh shares as compared to the 54.6 lakh on offer. Bids were received at an indicative price of Rs 140.11 per share. Further the company will exercise the Oversubscription Option to the extent of 32,14,286 equity shares in addition to the Base Offer Size. The company had earlier proposed to sell upto 60,71,429 equity shares having a face value of Rs 2 each via OFS with an option to additionally sell up to 32,14,286 equity shares. Accordingly, now the total Offer Size will be 92,85,715 equity shares representing 5.92% of the total paid up equity share capital of the company.
  • Nava Bharat Ventures: CARE has revised the credit ratings of Nava Bharat Energy India, one of the subsidiaries of the company. The rating agency has revised the credit rating of the Long-term Bank Facilities of Rs 50 crore of the subsidiary company to A- from BBB- and rating of the Short-term Bank Facilities of Rs 20 crore has been revised to A-;stable/A2+ from BBB-;stable/A3.
  • India Glycols: India Ratings & Research has affirmed the company's Long-term Issuer Rating as A-/Stable. The rating agency has affirmed A-/Stable rating form term loan of Rs 452.43 crore. Further the rating agency has affirmed the rating of Fund-based limit of Rs 415 crore and Non-fund-based limit of Rs 1,1 53.35 as A-/Stable/A2+.
  • Nifty Earnings: Infosys, Wipro
  • Non-Nifty Earnings: 5paisa Capital, CESC, GTPL Hathway

Earnings Post Market Hours

Tata Elxsi Q3FY21 (Standalone, QoQ)

  • Revenue up 11% at Rs 477.1 crore Vs Rs 430.1 crore
  • Net profit up 33% at Rs 105.2 crore Vs Rs 78.9 crore
  • Ebitda up 22% to Rs 143.5 crore Vs Rs 118 crore
  • Ebitda margin at 30.1% from 27.4%
  • Healthcare business continues to accelerate while Media and communications reported another strong quarter of sustained growth
  • We have seen new customer additions and large deals in both industries in the quarter
  • Sustained recovery in the automotive market for the second straight quarter

Pledge Share Details

  • Max Financial Services: Promoter Max Ventures Investment revoked pledge of 4.38 lakh shares between January 8-11.
  • Dish TV India: Promoters (Direct Media Distribution Ventures and Veena Investments) invoked pledge of 2.22 crore shares between January 7-8.
  • JSW Energy: Promoter JSW Investments revoked pledge of 12 lakh shares on January 8.
  • Stylam Industries: Promoter (Jagdish Gupta and Satish Gupta) revoked pledge of 10 lakh shares between October 28-31. As Reported On January 12.

Bulk Deal

  • Bliss GVS Pharma: LTS Investment Fund bought 5.20 lakh shares (0.50%) at Rs 207 per share.

Who’s Meeting Whom

  • Mahindra & Mahindra: To meet Ashmore Investments and Edelweiss Securities on January 13.

Trading Tweaks

  • Price Band Revised From 20% To 10%: Centrum Capital, Hindustan Composites
  • Ex-date Interim Dividend: Cochin Shipyard
  • Move Into Short-term ASM Framework: Ambika Cotton Mills, Hindustan Composites

Insider Trade

  • Rajesh Exports: Promoter Rajesh Mehta acquired 5,000 shares on January 11. As Reported On January 12.
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