Stocks To Watch: Biocon, BPCL, Coal India, Godrej Properties, Kotak Mahindra Bank, Mphasis
Men watch the electronic stock ticker at the Bombay Stock Exhange (BSE) in Mumbai. (Photographer: Adeel Halim/Bloomberg News)

Stocks To Watch: Biocon, BPCL, Coal India, Godrej Properties, Kotak Mahindra Bank, Mphasis

Indian equities ended little changed after failing to sustain at higher levels, led by a cool-off in private banks along with FMCG and Auto stocks. The S&P BSE Sensex ended 35 points higher at 50,441 while the NSE Nifty 50 index ended with gains of 20 points at 14,956. Benchmarks managed to register gains after consecutive days of losses.

Here are the stocks to watch in trade today:

  • BPCL: A shareholder plans to sell 8.67 crore shares of the company, according to the term sheet obtained by Bloomberg News. The floor price of Rs 435 per share is a 6.9% discount to Monday's closing price.
  • Coal India: Has approved an investment of about Rs 47,300 crore on mining projects according to an emailed statement to Bloomberg. The approvals include eight new projects as well as expansion plans for 24 existing mines. The 32 sites will have a combined peak output of 193 million tonnes per year, the highest ever approved during a fiscal year. The company is also investing in railway tracks and other coal transport infrastructure along the mines to ensure smoother shipments, as per the statement.
  • Mphasis: Bloomberg reports that Blackstone group has shelved plans to sell its Majority stake in the company. A person familiar with the matter told Bloomberg that the PE firm rejected two bidders in the final round as their offers did not meet the firm's expectations. Blackstone had purchased a 60.5% stake in Mphasis from HP in the year 2016 at 430 rupees per share
  • Biocon: In relation to the execution of a Share Subscription Agreement and a Shareholders’ Agreement between Biocon, Biocon Biologics, existing investors of BBL and Beta Oryx, a wholly owned subsidiary of ADQ as applicable, the subscription money aggregating to Rs 555 crore have been received by BBL from the investor. Consequently, the board of BBL has approved allotment of 1.97 crore equity shares at an issue price of Rs 280.31 per share including a premium of Rs 270.31 per share to the investor
  • Dixon Technologies: The record date for the 1:5 stock split has been set as March 19, 2021.
  • Godrej Properties: The company has approved raising of funds in one or more tranches, by issuance of securities for an amount not exceeding Rs 3,750 crore. Further the company has approved enhancement of investment limit upto Rs 7,500 crore.
  • Intellect Design Arena: The company has launched Magic Aadhaar, an Al powered comprehensive Aadhaar processing solution to identify, extract, validate and mask Aadhaar details. It hyper digitises the end-to-end processes, using Aadhaar-based processing.
  • Kotak Mahindra Bank: A meeting of the Board of Directors is scheduled on March 12, 2021 to consider and approve the declaration and payment of dividend on 100 crore 8.10% Non-Convertible Perpetual Non-Cumulative Preference Shares of face value of Rs 5 each. The record date fixed for the purpose of payment of dividend is Friday, March 19, 2021.
  • Kesoram Industries: Has allotted 2.22 crore fully-paid up equity shares at a conversion price of Rs 65 per share, aggregating to Rs 144.3 crore to a consortium of 10 lenders led by Axis Bank. Similarly, it has also issued 4.48 crore fully paid-up zero coupon Optionally Convertible Redeemable Preference Shares (OCRPS) to the same consortium of lenders worth Rs 448.9 crore. The equity shares and OCRPS, allotted on a preferential basis and on a private placement basis will be subject to a lock-in period of one year from the date of trading approval.
  • Lemon Tree Hotels: The company has signed a License Agreement for an 80 room upcoming hotel at Biratnagar in Nepal under the brand ‘Lemon Tree Premier’. The hotel is expected to be operational by January 2023, and this will be the third hotel of the company in Nepal, including Kathmandu and Nagarkot. Carnation Hotels, a subsidiary and the hotel management arm of the company will be operating and marketing this hotel.
  • Mishra Dhatu Nigam: A meeting of the Board of Directors is scheduled on March 15 to consider a proposal relating to declaration of interim dividend for the financial year 2020-21. The record date for interim dividend, if declared by the company, will be March 23, 2021.
  • Mindspace Business Parks REIT: Gigaplex Estate, one of the special purpose vehicles of the company, has entered into an agreement to sub-lease with a leading data center operator to sub-lease approximately 0.63 million sq. ft. at Mindspace, Airoli, Mumbai.
  • NGL Fine-Chem: The Maharashtra Pollution Control Board has issued conditional restart direction to the company's manufacturing unit at Tarapur, Boisar. On February 12, the MPCB had issued directions to close the company's above mentioned unit on account of alleged violations of the provisions of Water (Prevention and Control of Pollution) Act, 1974, Air (Prevention and Control Pollution), Act, 1981 and the Rules made thereunder.
  • PSP Projects: The company has received Letter of Acceptances amounting to Rs 1,491.34 crore (excluding GST) for construction of medical colleges and hospitals in Uttar Pradesh. Further the company has secured new work orders worth Rs 25.58 crore (excluding GST) for residential and institutional projects in Gujarat. With receipt of the above, the total work orders received during financial year 2020-21 on standalone basis amounts to Rs 2,436.86 crore (excluding GST) and the outstanding order book considering December books stands at Rs 4,736.88 crore (excluding GST).
  • RPSG: The company has executed a Share Purchase Agreement with Biren Natwarlal Vaidya, Arjun Vaidya, Sheetal Vaidya, Karan Vaidya and Herbolab India and has acquired 35.37% shareholding in Herbolab India, a subsidiary of the company. After acquisition of the said shareholding, Herbolab will become a wholly owned subsidiary of the company. The cost of the acquisition is Rs 50.80 crore.
  • SVP Global Ventures: The Share Allotment Committee of the company has considered and allotted 76.19 lakh equity warrants each convertible into equivalent number of equity shares of face value of Re 1 each at a price of Rs 105 each aggregating to Rs 19.99 crore to Shri Vallabh Pittie Ventures, a promoter group entity, on preferential basis.

Pledge Share Details

  • Chambal Fertilisers & Chemicals: Promoter Zuari Global created a pledge of 28.72 lakh shares on March 5.
  • Adani Enterprises: Promoters (Gautam Adani and Rajesh Adani) revoked pledge of 9.53 lakh shares on March 5.
  • Adani Ports And Special Economic Zone: Promoter Adani Tradeline LLP revoked pledge of 13.61 lakh shares on March 5.
  • Adani Power: Promoter Adani Tradeline LLP revoked pledge of 31.10 lakh shares March 5.
  • Adani Transmission: Promoter Adani Tradeline LLP created a pledge of 28.10 lakh shares on March 5.
  • Asahi India Glass: Promoter Sanjay Labroo revoked pledge of 4.09 lakh shares on March 3.
  • HealthCare Global Enterprises: Promoter BS Ajaikumar created a pledge of 29.77 lakh shares on March 5.
  • Future Retail: Promoter Future Corporate Resources invoked pledge of 5 lakh shares on February 23. As reported on March 8.

Bulk Deals

  • Gabriel India: KYB Corporation sold 8.99 lakh shares (0.63%) at Rs 120.64 per share.
  • Greenpanel Industries: Jwalamukhi Investment Holdings sold 25.21 lakh shares (2.06%) at Rs 167.67 per share and sold 13.29 lakh shares (1.08%) at Rs 167.03 per share.
  • Nava Bharat Ventures: The company bought 16.71 lakh shares (0.95%) at Rs 68.82 per share.

Who’s Meeting Whom

  • Bajaj Consumer Care: To meet Motilal Oswal Asset Management Company and Morgan Stanley on March 9 and ICICI Prudential Asset Ma: nagement Company on March 10.
  • UltraTech Cement: To meet Fidelity International on March 9.
  • eClerx Services: To meet Edelweiss Broking on March 9.
  • Crisil: To meet Nippon Mutual Fund and Enam Asset Management on March 10.

Trading Tweaks

  • Move Into ASM Framework: Amber Enterprises India, Brightcom Group, Adani Total Gas
  • Move Out Of Short-term ASM Framework: Asian Granito India, Dynemic Products
  • Price Band Revised From 10% to 5%: Jain Irrigation Systems, Thomas Cook (India)
  • Price Band Revised From 20% to 10%: Adani Total Gas, Jindal Poly Films, Subex, Welspun Enterprises
  • Ex-Date Interim Dividend: Thangamayil Jewellery, KEI Industries
  • Record Date Interim Dividend: Power Grid Corporation of India, Steel City Securities
  • Ex-Date Bonus Issue: Trio Mercantile & Trading
  • Ex-Date Stock Split: Trio Mercantile & Trading
  • Ex-Date AGM: Technofab Engineering

Insider Trades

  • Aditya Birla Fashion and Retail: Promoter IGH Holdings bought 8.31 lakh shares between March 2-3.
  • Pidilite Industries: Promoter Anuja Shah sold 20,000 shares between March 4-5.
  • Deepak Fertilisers & Petrochemicals Corporation: Promoter Robust Marketing Services bought 40,000 shares on March 4.
  • Oriental Carbon & Chemicals: Promoter Aparna Goenka sold 2,000 shares on March 4.
  • Aarti Industries: Promoter Bhavesh Mehta sold 3,250 shares on March 5.
  • Axis Bank: Promoter Life Insurance Corporation of India sold 4.33 lakh shares on March 4.
  • Jindal Steel & Power: Promoter Sarika Jhunjhnuwala sold 20,000 shares on February 23.
  • Tanla Platforms: Promoter Mobile Techsol bought 60,000 shares on March 5.
  • Godrej Agrovet: Promoter Godrej Industries bought 9,130 shares on March 3.
  • HG Infra Engineering: Promoter Girishpal Singh Family Trust bought 10,200 shares on March 4. As reported on March 8.
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