Stocks To Watch: BPCL, Canara Bank, Union Bank, Zee Entertainment
A man watches a screen displaying stock prices inside the Yangon Stock Exchange (YSX) in Yangon, Myanmar. (Photograph: Taylor Weidman/Bloomberg)

Stocks To Watch: BPCL, Canara Bank, Union Bank, Zee Entertainment

Indian equity markets managed to register yet another record high in today's session, led by private financials and pharma stocks. The S&P BSE Sensex ended 0.48% higher at 46,890. The 30-stock gauge fell 8 points short of scaling the 47,000 mark in today's session, reversing from an intra-day high of 46,992.

Here are the stocks to watch in trade today:

  • Zee Entertainment: To acquire film production and distribution business on a slump sale basis from Zee Studios, a wholly-owned subsidiary. Acquisition to be done for a cash consideration of Rs 275 crore. Acquisition expected to be completed in approximately two months. Further the Board of Directors have approved the transfer of the Digital Publishing Business Division of the company to Rapidcube Technologies through a Business Transfer Agreement.
  • BPCL:The Board of Directors of the company has approved the merger of Bharat Gas Resources Ltd, a wholly owned subsidiary of BPCL, with BPCL subject to the approval of the competent authorities and completion of regulatory and other requirements. The Authorised Equity Share capital of BGRL is Rs 2,300 crore and current paid up capital is Rs 558.62 crore. The board has also accorded its approval for acquisition of 88.86 crore (36.62%) of shares in Bharat Oman Refineries Ltd from OQ S.A.0.C.(formerly Oman Oil Company S.A.O.C)subject to the finalisation of definitive agreement between parties, the approval of the competent authorities and completion of regulatory and other requirements. Further the Board of Directors has approved the proposal to approach Government of Madhya Pradesh for acquiring 2.69 crore warrants held by GoMP in BORL.
  • Godrej Agrovet:The Department of Horticulture, Government of Telangana has allotted area admeasuring 28,164 Hectares in the Mahabubabad District of Telangana to the Company, for the purpose of oil palm cultivation/expansion. The said allotment is subject to execution of Memorandum of Agreement and completion of other procedural requirements by the company.
  • Dishman Carbogen: Promoters Adimans Technologies plans to sell close to 69 lakh shares of the company through an offer for sale. The share sale represents 4.4% of the total paid-up equity share capital. The company will retain a greenshoe option to sell another 69 lakh shares. The floor price of 145.7 rupees per share is at 6% discount to Thursday's closing price. The OFS for non-retail investors opens on December 18 while for retail investors it opens on December 21.
  • ISGEC Heavy Engineering:Has secured a new order from KPR Sugar & Apparels Limited to set up a 10,000 TCD Sulphurless Sugar Plant, 40 MW CoGeneration Plant, 60 TPH Incineration Boiler and 7.5 MW Power Plant for Zero Liquid Discharge system for client’s distillery plant on EPC basis. The order is valued at Rs 431 crore.
  • Canara Bank: Life Insurance Corporation of India has acquired 6.28 crore shares through QIP taking its total shareholding in the bank from 4.533% to 8.351%.
  • Union Bank of India: S&P Global Ratings has revised bank's stand-alone credit profile to bb- from bb. The rating agency also affirmed BB+ long-term and B short-term issuer credit ratings on UBI, and the BB+ long-term issue rating on the bank's senior unsecured notes.
  • Polyplex: India Ratings and Research has upgraded the rating of company's long-term loans of Rs 1.50 billion to AA-/Stable. The rating agency also upgraded the long-term rating and affirmed short-term rating of fund-based working capital limits of Rs 2.02 billion to AA-/Stable and A1+. Similarly non fund- based working capital limits (Long-term and Short term) for 0.30 billion was upgraded to AA-/Stable and affirmed at A1+.
  • Borosil Renewables: The Securities Issue Committee approved the issue and allotment of 1.58 crore shares to eligible qualified institutional buyers at an issue price of Rs 126.55 per share, which takes into account a discount of 4.99% to the floor price of Rs 133.19 per share, aggregating to Rs 20,000 lakh approximately.
  • Mazagon Dock Shipbuilders: Basin Trials of the first Ship of Project 15B (Yard 12704, Vishakhapatnam) have been completed. The ship is slated to complete sea trials by April 2021.
  • Sagar Cement: HDFC Mutual Fund has decreased its shareholding of the company by 2.05%; sold 4.81 lakh shares. The total shareholding of HDFC MF now stands at 4.61%.
  • Tata Motors: Extends date for completion of the Conditions Precedents mentioned in the Scheme of Arrangement between the Company and Tata Advanced Systems Limited for transfer of Defense Undertaking.
  • Everest Kanto Cylinders: CARE has revised the credit rating of Long Term Bank facilities of Rs 103.57 crore to BB+/Stable from BBB- and the rating of Short Term Bank facilities of Rs 69.92 crore has been revised to A4+ from A3.
  • Shoppers Stop: The Right Issue Committee approved the allotment of 2.13 crore rights equity shares of Rs 5 each at a price of Rs 140 per rights equity share (including a premium of Rs 135 per share).
  • Bank of Baroda: Has appointed Ian De Souza as Chief Financial Officer of the bank w.e.f. December 17, 2020.
  • Indian aluminum integrated producers i.e. Hindalco and Nalco to be focus in today’s trading session. The producers may stand to gain if U.S. were to reapply sanctions on one of the world’s largest producers Rusal. LME Aluminum surged to the highest in more than two years after Bloomberg report suggested that European officials told the U.S. that Oleg Deripaska has retained significant day-to-day influence over United Co. Rusal International PJSC.

Pledge Share Details

  • Sun Pharmaceutical Industries: Promoter Shanghvi Finance created a pledge of 1.24 lakh shares between December 14-16.
  • Chambal Fertilisers & Chemicals: Promoter Zuari Global revoked pledge of 10 lakh shares on December 15.
  • Adani Transmission: Promoter Adani Tradeline LLP revoked pledge of 8.70 lakh shares on December 14.

As Reported On December 17

Who’s Meeting Whom

  • Bajaj Finance: To meet Premji Invest on December 22.
  • Gland Pharma: To meet Arohi Asset Management on December 22.
  • Tata Steel: To meet Citi Research on December 18 and Elara Securities on December 22.
  • Tata Motors: To meet Slyebra Capital, HK on December 21.

Bulk Deals

  • IDFC Limited: Sipadan Investments (Mauritius) sold 93.57 lakh shares (0.59%) at Rs 40.93 per share.
  • JK Tyre & Industries: Edgefield Securities sold 14.33 lakh shares (0.58%) at 76.52 per share.
  • Majesco: ICICI Bank bought 2.01 lakh shares (0.67%) at Rs 968.08 per share. Third Alpha LLP bought 5 lakh shares (1.67%) at Rs 970 per share. Promoter Ram Family Trust bought 5 lakh shares (1.67%) at Rs 970 per share.
  • BEML: Equity Intelligence India bought 2.65 lakh shares (0.64%) at Rs 847.63 per share.
  • SH Kelkar and Company: Promoter Keva Constructions sold 10 lakh shares (0.71%) at Rs 115.74 per share.
  • Snowman Logistics: Adani Logistics sold 11.02 lakh shares (0.66%) at Rs 58.58 per share.

Trading Tweaks

  • Ex Date Dividend: Ashok Alco-Chem, Energy Development Company, Jai Corp, Vasundhara Rasayans.
  • Ex Date Final Dividend: Brightcom Group
  • Price Band Revised From 10% To 5%: Vakrangee
  • Price Band Revised From 20% To 10%: Hindustan Copper
  • Move In To ASM Framework: Shriram EPC
  • Move In To Short-term ASM Framework: Arvind SmartSpaces, Inox Wind, Sundaram Finance.
  • Move Out Of Short-term ASM Framework: Trident, Reliance Communications, Reliance Infrastructure, Goodyear India, Omaxe.

Insider Trades

  • Filatex India: Promoters (Anu Bhageria, Yaduraj Bhageria, Stuti Bhageria and Vedansh Bhageria) acquired 8 lakh shares on December 15.
  • BMW Industries: Promoter Tricom Investments acquired 2.25 lakh shares on December 16.
  • Spandana Sphoorty Financial: Promoter Vijaya Sivarami Reddy Vendidandi sold 1.80 lakh shares on December 16.
  • Mukand: Promoter Bajaj Sevashram acquired 47.85 lakh shares on December 15. Promoter Jeewan sold 47.85 lakh shares on December 15.
  • Vardhman Textiles: Promoter Vardhman Holdings acquired 11,078 shares between December 14-15.
  • Ultramarine & Pigments: Promoters (Sridhar Sundararajan, Jayalakshmi Venkataraman and S Narayan) sold 31,563 shares between December 15-16.
  • Vardhman Special Steels: Promoter Sachit Jain acquired 11,000 shares between December 14-16.

As Reported On December 17

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