Stocks To Watch: Bosch, Cadila Healthcare, NBCC, Reliance Communications, Religare Enterprises, Tata Steel  

U.S. stock futures slumped along with Asian equities and oil prices surged after Iran started an attack on military facilities in Iraq hosting American troops, escalating tensions in the Middle East.

Futures on the S&P 500 Index dropped more than 1.5 percent. Japanese shares headed for the biggest slide since March, with equities also lower in Sydney and Seoul. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 1.27 percent to 11,967 as of 6:55 a.m.

Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.

Here are the stocks to watch in today’s trade.

• Tata Steel said that its arm TS Alloys has received a letter of intent for grant of mining lease for 50 years for Saruabil Chromite mining block, from the Odisha Government.
• Cadila Healthcare: Amgen won ruling to revive Sensipar patent against Amneal. Amgen case against Amneal sent back to the trial court, according to a Bloomberg report.
• Navin Fluorine commenced production of company’s Current Good Manufacturing Practice capacity addition at Madhya Pradesh.
• ZF Steering said that search and seizure operations have been completed.
• NCL Industries Q3 Update: Cement Production down 23 percent to 4,23,199 million tonne. Cement dispatches down 22 percent to 4,30,861 MT.
• NBCC secured business of Rs 1,090.53 crore in December.
• Bosch said that it has received a strike notice from the respective Trade Unions at the company’s plants situated at Bidadi and Naganathapura, stating that they are participating in the All India General Strike called by Central Trade Union on Jan. 8.
• HT Media’s arm HT Learning Centers to restructure its ‘Studymate’ and ‘Englishmate’ businesses. The arm will not accept new enrollment but will continue to honour existing commitments for the academic year 2019-2020.
• Thomas Cook signed long term strategic agreement with Abu Dhabi’s trade and promotion arm.
• Coal India output to be affected due to a strike on Jan. 8. (BN)
• V2 Retail: Akash Agarwal resigned as the chief executive officer with effect from Jan. 2.
• HDIL: First Committee of Creditors on Jan. 8.
• Wadia Group Stocks: Go Air received notice from Directorate General of Civil Aviation on crew duty timings, according to Bloomberg report.
• Goa Carbon Dec. Production up 77 percent to 11,112 MT.
• Indian Overseas Bank has decreased Marginal Cost of Funds based Lending Rate by 25 basis points for overnight and one-month tenors with effect from Jan. 10. Overnight MCLR at 7.8 percent and one-month MCLR at 7.95 percent.
• Bajaj Electricals: NCLT approved the scheme arrangement between Hind Lamps and the company.

Default Disclosures

• Suzlon Energy Communications default on loans from financial institutions and banks stood at Rs 7,256 crore as on Dec. 31. Total financial indebtedness was at Rs 14,048 crore.
• Jaypee Infratech default on loans from financial institutions and banks stood at Rs 6,721 crore as on Dec. 31. Total financial indebtedness was at Rs 13,438 crore.
• Reliance Communications default on loans from financial institutions and banks stood at Rs 28,825 crore as on Dec. 31. Total financial indebtedness was at Rs 32,575 crore.
• Hindustan Construction Company default on loans from financial institutions and banks stood at Rs 286.2 crore as on Dec. 31. Total financial indebtedness was at Rs 10,391 crore.
• Gayatri Projects default on loans from financial institutions and banks stood at Rs 82.66 crore as on Dec. 31. Total financial indebtedness was at Rs 3,299.04 crore.
• Religare Enterprises default on loans from financial institutions and banks stood at Rs 209.05 crore as on Dec. 31. Total financial indebtedness was at Rs 371.92 crore.
• Reliance Power default on loans from financial institutions and banks stood at Rs 685 crore as on Dec. 31. Total financial indebtedness was at Rs 934 crore.
• Reliance Naval & Engineering default on loans from financial institutions and banks stood at Rs 9,492 crore as on Dec. 31. Total financial indebtedness was at Rs 9,534 crore.

Pledge Share Details

• Ajanta Pharma promoter Ravi Agrawal Trust created pledge of 15 lakh shares on Jan. 1.
• Adani Ports & SEZ promoter SB Adani Family Trust revoked pledge of 1.28 crore shares on Jan. 6.
• Adani Power promoter SB Adani Family Trust revoked pledge of 2.61 crore shares on Jan. 6.
• Future Consumer promoter Future Capital Investment revoked pledge of 2.2 lakh shares on Jan. 3.

Trading Tweaks

• GSS Infotech, Indiabulls Integrated Services, Shankara Building Products, Weizmann, Jiya Eco-Products, RattanIndia Power to move into short term ASM Framework.
• IIFL Securities to move into ASM Framework.
• Kesoram Industries price band revised to 20 percent.
• Zuari Global price band revised to 10 percent.

Who’s Meeting Whom

• Tata Steel to meet Bank of America Merrill Lynch, Blackrock Investment Management and PIMCO from Jan. 9-10.
• Minda Corp to meet Svan Investments, Investec Capital and other investors from Jan. 9-10.

Money Market Update

• The rupee closed at 71.83/$ versus 71.94/$ on Monday.

F&O Cues

Index Futures

• Nifty January futures closed at 12,016.7, premium of 53.8 points versus 50.7 points
• Nifty January futures adds 51,000 shares in open interest.
• Nifty Bank January futures closed at 31,492.8, premium of 93.4 points versus 124.9 points.
• Nifty Bank January futures open interest up 5 percent, adds 66.4 lakh shares in open interest.

Options

• Nifty PCR at 1.18 versus 1.11 (across all series).

Nifty Weekly Expiry: Jan. 9

• Max open interest on call side at 12,200 (29.7 lakh shares).
• Max open interest on put side at 12,000 (26 lakh shares).
• Open interest addition seen at 12,050P (+7.4 lakh shares), 12,000P (+6.1 lakh shares), 12,200C (+4.2 lakh shares).
• Open interest shedding seen at 12,050C (-2.2 lakh shares), 12.000C (-1.7 lakh shares).

Nifty Monthly Expiry: Jan. 30

• Max open interest on call side at 12,500 (27.4 lakh shares).
• Max open interest on put side at 12,000 (42.2 lakh shares).

Brokerage Radar

BofAML on IndusInd Bank

• Upgraded to ‘Buy’ from ‘Neutral’; hiked price target to Rs 2,000 from Rs 1,500.
• Investor concerns to be resolved in H1FY21.
• Macro and micro factors to turn tailwinds in 2020.
• Hike FY20-22 earnings estimate by 1-13 percent led by higher growth and net interest margins.

Goldman Sachs on Eicher Motors

• Maintained ‘Buy’ with a price target of Rs 25,334.
• Royal Enfield widens range and features with BS-VI variants.
• Price hike is between 7-10 percent for BS-VI variants.
• Better positioned to navigate BS-VI transition

HSBC on India Steel

• Expect sharp recovery in December quarter shipments, led by SAIL and JSPL
• Expect realisations/tonne for December quarter to fall by 20 percent year-on-year, resulting in 35 percent fall in Ebitda
• More positive on long producers versus flat
• Tata Steel: Maintained ‘Hold’; hiked price target to Rs 440 from Rs 400.
• JSW Steel: Maintained ‘Reduce’ with a price target of Rs 200.
• SAIL: Upgraded to ‘Hold’ from ‘Reduce’; hiked price target to Rs 50 from Rs 30.
• JSPL: Maintained ‘Buy’; hiked price target to Rs 240 from Rs 180