Stocks To Watch: BSE, Cipla, HCC, Indian Overseas Bank, Jet Airways, RBL Bank, Schneider Electric, Zee Entertainment

U.S. equity futures slipped and the yen nudged higher after President Donald Trump signed a bill backing Hong Kong protesters, a move that could further strain discussions on the trade front with China.

Stocks opened flat in Japan and equities edged up in Sydney, while those in Seoul fell. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.2 percent to 12,100.50 as of 7 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.

• Zee Entertainment Enterprises said that three Directors have resigned between Nov. 22-24.
• JSW Group: JSW Cement has raised capacity target to 25 million tonne per annum by 2023 with a capex investment of Rs 2,875 crore. The company may look at initial public offering by December 2021.
• Shiva Cement declared preferred bidder for new mine block and has planned clinker and grinding units of 1 MTPA each, and setting up of 3000 TPD Clinker Unit. The board of Shiva Cement approved terms and conditions mentioned in LOI received from Odisha Government relating to granting of mining lease in the State.
• BSE approved sale of 41.8 lakh shares (4 percent stake) in CDSL via OFS worth up to Rs 85.69 crore. Floor Price set at Rs 205 per share, which is at a discount of 8.2 percent to closing prices on Nov. 27. The offer-for-sale starts today and ends tomorrow.
• Enkei Wheels has revised its proposed expansion plan at its land beside existing plant in Pune. Proposed plan’s investment has increased from Rs 125 crore to Rs 230 crore. Plan to be completed by November 2020. One MAC line to be operational till then end of 2021. Company has planned fully automatic painting facility instead of earlier plan of semiautomatic setup. Has entered into an agreement to form JV with Nikkei MC Aluminium (Japan), Century Metal Recycling and Enkei Corporation (Japan) for metal scarp recycling and selling of aluminum alloys.
• Schneider Electric Infra has announced the launch of its Bengaluru factory for manufacture of industrial UPS systems and variable speed drives. (Press Release)
• Balaji Amines is setting up Organic and Specialty Chemicals Manufacturing Unit of capacity 874.2 TPD in Maharashtra. Company has also received the environmental clearance for the same from the Government for the aforementioned unit.
• Jet Airways to extend last date submission of Resolution Plan to Dec. 16 and file an application for extension of the insolvency process by another 90 days.
• Cipla’s arm Cipla (EU) has increased its stake in its Sri Lanka arm from 60 percent to 100 percent.
• Indian Overseas Bank: The Reserve Bank of India has levied penalty of Rs 3.3 lakh under the FEMA Act.
• Manappuram Finance mulling to undertake issue of foreign currency denominated bonds under MTN program on Dec. 3 or later.
• Bayer CropScience: Monsanto (USA) acquired 3.44 percent stake in the company via share allotment on Nov. 25. Bayer AG stake reduced from 10.41 percent to 8.43 percent in the company. Monsanto Investments acquired 15.04 percent stake in the company. Transactions occurring due to amalgamation of Monsanto India with Bayer CropScience.
• Bajaj Electricals: HDFC MF increased stake from 5.16 percent to 7.18 percent in the company.
• Ceat has signed a share subscription agreement with Greenzest Solar and Cleantech for acquiring up to 26 percent stake aggregating to Rs 5 crore, in Greenzest Solar.
• Thomas Cook to be available for trading in Trade for Trade Segment with effect from Dec. 5.

Pledge Share Details

• Ashapura Minechem promoters created pledge of 2.4 crore shares on Nov. 25.
• Orient Green Power promoters released pledge of 26.24 lakh shares on Nov. 15.
• Dish TV promoter Veena Investments invoked pledge of 9.27 lakh shares on Nov. 20.
• Zee Media Corporation promoters invoked pledge of 2.54 crore shares from Oct. 10-Nov. 20.

Trading Tweaks

• D B Realty, HCC, MEP Infrastructure Developers, Reliance Communications to move into short term ASM Framework.
• Shree Digvijay Cement, Tanla Solutions, Vakrangee, Eveready Industries, Patel Engineering to move out of short term ASM Framework.
• Adani Green Energy price band revised to 5 percent.
• Swiss Glascoat Equipments to move into ASM Framework.

Who’s Meeting Whom

• Shriram City Union Finance to meet Enam Holdings on Nov. 28.
• Mahindra Logistics to meet Elara Capital on Nov. 28.

Insider Trading

• Grasim Industries promoter IGL Holdings acquired 1.37 lakh shares on Nov. 21.
• Filatex India promoter Azimuth Investments acquired 2 lakh shares from Nov. 25-26.

Money Market Update

• The rupee closed at 71.35/$ versus 71.49/$ on Tuesday.

F&O Cues

Index Futures

• Nifty November futures closed at 12,123.8, premium of 23 points versus 37 points.
• Nifty Futures across series OI down 1.7 percent sheds 3.5 lakh shares in OI.
• Nifty Bank November futures closed at 31,891.
• Nifty Bank futures across series OI flat sheds 660 shares in OI.
• Rollover-Nifty 62 percent, Nifty Bank 49 percent.

Options

• Nifty PCR at 1.63 versus 1.59 (across all series)

Nifty Monthly Expiry: Nov 28

• Max OI on call side at 12,200 (25 lakh shares)
• Max OI on put side at 12,000 (45 lakh shares)
• OI addition seen at 12,200C (+3.8 lakh shares) 12,100C (+5.4 lakh shares), 12.100P (+13 lakh shares)

Stocks In F&O Ban

• Yes Bank

Brokerage Radar

Goldman Sachs on Biocon

• Maintained ‘Buy’ with a price target of Rs 320.
• Facility approval to trigger bNeulasta market share gain.
• US volume market share had eased off due to manufacturing capacity constraints.
• Build a 20 percent share for Biocon in bNeulasta syringes in the U.S. market for 2020-21.
• Biocon is entering a catalyst rich phase over the next six months.

Morgan Stanley on IGL

• Maintained ‘Overweight’ with a price target of Rs 414.
• IGL is a play on India's energy transition to gas.
• Rising pollution concerns and improving gas penetration have been the key.
• Expect cheap gas prices to drive industrial/commercial demand.

Credit Suisse on Nestle

• Maintained ‘Outperform’ with a price target of Rs 16,000.
• Nestle has been consistently growing significantly ahead of other FMCG companies.
• Noodles and chocolates segments are growing double digits.
• Company is now hiking prices to mitigate the impact of gross margin fall.
• Mixed success in new category innovations over the past two years.

Axis Capital on Sudarshan Chemicals

• Maintained ‘Buy’ with a price target of Rs 465.
• Management highlights acceleration in capex and expansion into new products.
• Management reiterated focus on specialty and high-performance pigments.
• Expect net debt to peak out in 2020-21 and decline thereafter.