Stocks To Watch: Biocon, HCC, NHPC, ONGC, Tata Power
A trader works in front of her computer screen at securities brokerage. (Photographer: Dimas Ardian/Bloomberg)

Stocks To Watch: Biocon, HCC, NHPC, ONGC, Tata Power

Indian equity markets ended with a negative bias after a late cool off in banking stocks dragged the indices to their day's low. The S&P BSE Sensex fell over 450 points from the day's high to end 80 points lower at 48,093. The NSE Nifty 50 too fell over 120 points from the highest point of the day to end nine points lower at 14,137.

Here are the stocks to watch in trade today:

  • Tata Power: Has taken over power distribution in Western and Southern Odisha from January 1, 2021 onwards. The company has acquired 51% equity stake each in TP Southern Odisha Distribution Limited and TP Western Odisha Distribution Limited for a consideration of Rs 127.50 crore and Rs 255 crore, respectively. GRIDCO will hold balance 49% equity stake each on TPSODL and TPWODL. With the acquisition of two additional distribution utilities, the company has expanded its consumer base to 9.5 million from the present base of 5.2 million across Mumbai, New Delhi, Central part of Odisha and Ajmer.
  • Biocon: The Board of its subsidiary Biocon Biologics has approved a primary equity investment by Abu Dhabi based ADQ. As per the terms of the proposed agreement, ADQ will invest Rs 555 crore for a 1.80% minority stake in the biosimilar business, valuing Biocon Biologics at a post money valuation of $4.17 billion. Post the completion of this transaction, Biocon will hold 89.89% stake in Biocon Biologics on a fully diluted basis.
  • NHPC: The Resolution Plan submitted by the company for Jalpower Corporation Limited has been approved by National Company Law Tribunal, Hyderabad Bench.
  • Bharat Rasayan: A meeting of the Board of Directors will be held on January 12, 2021 to consider the proposal of buyback of equity shares of Rs 10 each fully paid, of the company.
  • Hindustan Construction Company: The loan default amount till December 31 stands at Rs 1,772.34 crore. The total amount outstanding as on date for loans (Fund Based) is Rs 3,801.60 crore. Total financial indebtedness of the company including short-term and long-term debt (including Non-Fund Based) is Rs 10,098.95 crore.
  • ONGC: Has approved the offer and issuance of up to 15,000 unsecured NCDs of face value of Rs 10 lakh shares at par aggregating to a total issue size of up to Rs 1,500 crore on a private placement basis at the interest rate of 4.50% per annum.

Pledge Share Details

  • Jindal Steel & Power: Promoters (OPJ Trading and Danta Enterprises) revoked pledge of 74.50 lakh shares between January 5-6.
  • Adani Transmission: Promoters (Gautam S Adani and Rajesh S Adani) revoked pledge of 15.20 lakh on January 6. As Reported On January 7.

Bulk Deals

  • Likhitha Infrastructure: BM Traders bought 68,666 shares at Rs 208.27 per share and sold 1.18 lakh shares at Rs 207.54 per share.
  • IDFC: Sipadan Investments (Mauritius) sold 8.26 crore shares (5.18%) at Rs 38.76 per share. Abakkus Emerging Opportunities Fund-1 bought 1 crore shares (0.63%) at Rs 38.75 per share. Morgan Stanley Asia Singapore PTE bought 1.32 crore shares (0.83%) at Rs 38.75 per share. Avendus Absolute Return Fund bought 1.49 crore shares (0.94%) at Rs 38.75 per share.

Trading Tweaks

  • Ex Date EGM: LP Naval And Engineering
  • Ex Date Interim Dividend: Rites
  • Price band revised from 20% to 10%: HLV, Fairchem Organics.
  • Move Into Short-term ASM Framework: HLV
  • Move Out Of Short-term ASM Framework: SORIL Infra Resources, Confidence Petroleum India, Rupa & Company, Hindustan Construction Company, Olectra Greentech, ABB Power Products and Systems India.
  • Move Into ASM Framework: Ashapura Minechem

Insider Trade

  • Vikas Multicorp: Promoters (Vikas Garg, Seema Garg, Nand Kishore Garg and Sukriti Garg) sold 5.69 crore between December 1-31. As Reported On January 7.
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