Stocks To Watch: Bharti Airtel, Inox Leisure, Max Financial, RIL, Tata Steel

Indian equities fluctuated for most parts of the trading day, but managed to eke out modest gains as the session came to a close. The S&P BSE Sensex ended 42 points higher at 49,201 while the NSE Nifty 50 index rose 0.3% to end at 14,683.

Here are the stocks to watch today:

• Inox Leisure: To raise funds up to Rs 300 crore through issue of securities either by way of public issue, rights issue or private placement but not limited only to QIP. The fund raising is subject to shareholders and other necessary approvals.
• Reliance Industries, Bharti Airtel: Reliance Jio Infocomm has entered into a definitive agreement with Bharti Airtel for acquisition of right to use spectrum in the 800MHz band in Andhra Pradesh, Delhi and Mumbai circles through spectrum trading. The agreement is subject to statutory approvals. In the 800 MHz band, Reliance Jio will have 2 times 15MHz of spectrum in Mumbai circle and 2 times 10MHz of spectrum in Andhra Pradesh and Delhi circles. The agreement will help Reliance Jio in further consolidating its spectrum footprint in these circles and will increase its network capacity. The aggregate value for the right to use this spectrum is Rs 1,497 crore.
• Tata Steel Long Products: Crude steel production up 19% to 186,000 tons in Q4 FY21 Versus 156,000 tons in the same period last year. The growth came on the back of debottlenecking at steel melting shop and arcing. The FY21 production at 648,000 tons is the highest ever with 11% year-on-year growth despite disruption caused by Covid-19 pandemic. Further, sales volumes up 25% to 172,000 tons compared to 137,000 tons in Q4FY20. The company achieved the highest ever annual sales volumes at 639,000 tons with 25% year-on-year growth. TSLP remains focused on aggressively managing costs and cashflows while pursuing deleveraging.
• Tata Steel: India production volumes down 7% in Q4 FY21 to 4.75 million tons compared to 4.73 million tons in the same period last year. India delivery volumes up 16% year-on-year to 4.67 million tons. Exports were at 11% of overall deliveries. Further, the company achieved highest ever annual delivery volume of 17.30 mn tons in FY21, despite the Covid-19 pandemic induced disruption. Europe production volumes up 0.37% to 2.65 mn tons compared to 2.64 mn tons in the previous year. Europe delivery volumes up 4% to 2.49 mn tons Vs 2.39 mn tons. The company remains focused on aggressively managing costs and cashflows while pursuing deleveraging.
• Tata Steel BSL: Achieved highest ever quarterly crude steel production of 1.18 million tons in Q4, up 5% from the same period last year. Sales volumes up 22% year-on-year to 1.19 mn tons and annual sales volumes up 4% to 4.31 mn tons. The sales growth was driven by higher production and improved market conditions.
• Max Financial Services: Axis Bank and its two subsidiaries, Axis Capital and Axis Securities, have become the co-promoters of Max Life Insurance after the completion of acquisition of 12.99% equity stake in the company. The Axis Entities have a right to acquire an additional 7% stake in the company subject to regulatory approvals. Further, Max Life's board will be recast with three Axis nominees.
• Cholamandalam Investment & Finance: Partnered with Zoho, Razorpay, Zerodha, Ujjivan and Airpay to submit new umbrella entity application on March 31. The consortium, called Vishwakarma Payments Pvt Ltd, will focus on retail payments systems. It expects to focus on creating an agile platform for seamless digital payments.
• Max Healthcare Institute: Board has approved incorporation of a wholly owned subsidiary to provide range of diagnostic services including pathology lab services to retail and non-captive customers as well as third party Hospital Lab Management.
• Force Motors: The company's total production in March stood at 1,971 units. It reported domestic sales of 1,633 units and exports of 425 units.

Pledge Share Details

• Aurobindo Pharma: Promoter Group (Axis Clinicals, Trident Chemphar and RPR Sons Advisors) revoked pledge of 36 lakh shares on April 5.
• Jindal Steel & Power: Promoter Siddeshwari Tradex revoked pledge of 13 lakh shares on March 25.
• Suryoday Small Finance Bank: Promoter Baskar Ramachandran created a pledge of 1.12 crore shares on March 30. As reported on April 6

Bulk Deals

• Reliance Infrastructure: HDFC sold 42.40 lakh shares (1.61%) at Rs 41.47 per share.

Trading Tweaks

• Price Band Revised From 10% To 5%: Future Enterprises
• Price Band Revised From 20% To 10%: Adani Total Gas, NIIT
• Ex-Date Interim Dividend: Edelweiss Financial Services
• Record Date Interim Dividend: NACL Industries, Shriram City Union Finance
• Move Into ASM Framework: Adani Total Gas, NIIT, Adani Transmission
• Move Into Short-Term ASM Framework: United Drilling Tools
• Move Out Of Short-Term ASM Framework: ICRA

Insider Trades

• Anant Raj Global: Promoter bought 13,500 shares on March 31.
• Godrej Industries: Arel Enterprise LLP bought 2.59 lakh shares between March 30-31.
• GMR Infrastructure: Promoter GMR Enterprises sold 1.65 crore shares on March 31. As reported on April 6