Stocks To Watch: BPCL, Escorts, Metropolis Healthcare, Tata Steel, TCS, Wipro

Asian stocks declined after a weak session on Wall Street, as bleak retail, manufacturing and homebuilding data added to concerns about a severe U.S. recession. Oil steadied near its lowest in two decades. Shares from Sydney to Seoul retreated, though declines were shallower than those seen in the U.S. overnight.

Here are the stocks to watch in trade today:

• BPCL seeking to cut Saudi Arabia oil imports by 50 percent in May, as the tankers are full. (Bloomberg News)
• Tata Steel: Moody’s has reviewed the company for a downgrade and has downgraded Tata Steel UK Holdings corporate family rating B3 from B2. The outlooks have been revised to ratings under review from stable. S&P Global Ratings has downgraded issuer credit rating to B+ from BB-, with outlook changing from stable to negative. The rating agency expect that COVID-19 related disruptions and the consequent economic slowdown will result in weak credit metrics for the company.
• Escorts: Factories and offices to remain shut till May 3.
• Deepak Fertilizers and Petrochemicals: SEBI has extended time till May 15 for the conversion of warrants worth Rs 41.66 crore into equity shares made by the promoters.
• Shriram Transport Finance to consider raising funds via NCDs on April 20.
• Essel Propack: Board has appointed Sudhanshu Vats as CEO and MD of the company with effect fro April 16.
• India Cements: CARE Ratings downgraded long term banking and NCDs rating to CARE A- from CARE A, with the outlook remaining unchanged at stable.
• Pidilite Industries stated that operations in two of its facilities have partially resumed.
• Eveready Industries: Battery manufacturing facility at Karnataka has resumed operations partially.
• Apollo Tyres: Operations at four plants in Kerala to continue to be shut till April 20.
• Prataap Snacks stated that company’s job working manufacturing units in Uttarakhand, Maharashtra and Haryana have started operations.
• Punjab & Sind Bank: MCLR revised with effect from April 16. One-Month MCLR at 8 percent and One-Year MCLR at 8.2 percent.
• Navine Fluorine has recommenced operations at its two plants in Gujarat and Madhya Pradesh from April 14.
• Galaxy Surfactants said that operations at Tarapur location are closed and will be resumed after receiving necessary permissions from the statutory authorities to restart.
• Sobha: All manufacturing units and offices to be closed until May 3.
• Bajaj Consumer Care has launched a hand sanitizer product.
• Endurance Technologies’ Italian arm has acquired 99 percent stake in Adler for Euro 3.5 million. Adler makes systems solutions for clutches, gears and friction plates with a niche in R&D, engineering services and product development for OEM customers in Europe.
• Suzlon Energy to consider raising capital via shares, debentures, warrants etc. on April 18.

Bulk Deals

• IndusInd Bank: Goldman Sachs acquired 41 lakh shares (0.65 percent) at Rs 430.3 per share
• Metropolis Healthcare: CA Lotus Investments sold 65.5 lakh shares (13.06 percent) at Rs 1152.64 per share and Smallcap World Fund acquired 10 lakh shares (1.99 percent) at Rs 1152.5 per share
• Phoenix Mills: Schroder Group acquired 26.59 lakh shares (1.73 percent) at Rs 512.54 per share and Nordea Fund sold 21.06 lakh shares (1.37 percent) at Rs 512.54 per share
• CARE Ratings: FPA Funds Trust acquired 5.19 lakh shares (1.76 percent) at Rs 412.3 per share and Boabab Global Fund sold 4.95 lakh shares (1.68 percent) at Rs 412.31 per share
• Deep Industries: Antara India Evergreen Fund acquired 2.11 lakh shares (0.66 percent) at Rs 60.5 per share and Plutus Terra India Fund sold 2.11 lakh shares (0.66 percent) at Rs 60.5 per share

Pledged Share Details

• Motherson Sumi Systems promoter Samvardhana Motherson International released pledge of 2.5 crore shares on April 13
• JSW Steel promoters created pledge of 47 lakh shares on April 8
• Adani Enterprises promoter SB Adani Family Trust revoked pledge of 1.79 crore shares on April 13
• Adani Transmission promoter SB Adani Family Trust revoked pledge of 90.41 lakh shares on April 13

(As Reported On April 15)

Trading Tweaks

• GSK Consumer Health Care ex-date for amalgamation
• Astra Microwave Products, CG Power and Industrial Solutions, Mahanagar Telephone Nigam, PNC Infratech, Shakti Pumps, Take Solutions price band revised from 10 percent to 5 percent
• Andhra Cements, Fertilizers and Chemicals Travancore, Tata Communications, Parag Milk Foods, Zuari Global, Zuari Agro Chemicals price band revised from 20 percent to 10 percent
• Andhra Cements, HCL Infosystems to move into ASM Framework
• Tata Communications, A2Z Infra Engineering, Wockhardt, Everest Industries, Zuari Global, MT Educare, Alembic Pharmaceuticals, Avanti Feeds, Take Solutions to move into short term ASM Framework
• Mangalore Chemicals & Fertilizers, Advanced Enzyme Technologies, Caplin Point Laboratories, Godrej Agrovet to move out of short term ASM Framework

Active Stock Futures

F&O Cues

• Nifty April futures closed at 8,930, premium of 5 points versus 17.3 points
• Nifty April futures open Interest down 6 percent, sheds 6 lakh shares in Open Interest
• Nifty Bank April futures closed at 18,989.7, discount of 67 points versus 3.9 points
• Nifty Bank April futures open Interest up 16 percent, adds 1.7 lakh shares in Open Interest
• Nifty Put-Call Ratio at 1.27 versus 1.39 (across all series)

Nifty Weekly Expiry: April 16

• Max open interest on call side at 9,500 strike (20.1 lakh shares)
• Max open interest on put side at 8,000 strike (14.7 lakh shares)
• Open interest addition seen in 9,300 Call (+5.8 lakh shares), 9,500 Call (+5.7 lakh shares), 8,900 Put (+3.6 lakh shares)

Nifty Monthly Expiry: April 30

• Max open interest on call side at 10,000 strike (16.6 lakh shares)
• Max open interest on put side at 8,000 strike (23.8 lakh shares)

Results Announced

Wipro Q4 (Consolidated, QoQ)

• IT services revenue down 1.1 percent at $2,073 million.
• Revenue up 1.8 percent at Rs 15,750 crore.
• EBIT down 4.2 percent at Rs 2,539 crore.
• Margin at 16.1 percent versus 17.1 percent.
• Net profit down 4.5 percent at Rs 2,345 crore.

Results Today

• TCS