Stocks To Watch: Can Fin Homes, FDC, Gillette, Indraprastha Gas, JMC Projects, PNB, SBI, TCS, Va Tech Wabag

Asian stocks began Wednesday in mixed fashion, despite another record high on Wall Street, as investors mulled the pace of the recent equity rally and expectations for loose monetary policy. The dollar retained losses. Shares fluctuated in Japan and South Korea, and dipped in Australia.

Here are the stocks to watch in trade today:

• Va Tech Wabag: Board has approved issuance of up to 75 lakh shares on a preferential basis at Rs 160 per share aggregating to Rs 120 crore. Rekha Rakesh Jhunjhunwala will be issued up to 50 lakh shares on preferential basis while the remaining 25 lakh shares will be issued amongst Basera Home Finance, Sushma Anand Jain and Anand Jaikumar Jain. Board also revised the enabling fund raising proposal from Rs 400 crores to Rs 280 crore. Issue price is at a discount of 30% to the closing prices as on Aug.25.
• Punjab National Bank recovered Rs 24 crore in the Nirav Modi case. On liquidation of the Nirav Modi’s assets by the US Chapter 11 Trustee, Rs 82.66 crore has been made available for distribution to unsecured creditors, including PNB. Further recovery is subject to other expenses and settlement of claims of other claimants. This is a maiden repatriation of $3.2 million (Rs 24 crore) for the Indian government in its fight against corporate fraud in an overseas territory.
• S&P has revised long term issuer credit ratings of TCS to stable from positive, affirms ‘A’ Rating. Tata Consultancy Services is likely to face slower growth in revenue and profitability over the next 12-18 months, given subdued global information technology spending. The ratings agency anticipates pricing pressures on new contracts and renewals because of the lower spending ability of clients in a highly competitive market.
• Hindustan Oil Exploration: Malaysia tribunal has upheld certain claims by claimant Hardy Exploration & Production in an arbitration case. The claimant has sought to enforce the award through a petition before the Gujarat High Court and the financial implication is Rs 10 crore. Company will be contesting the case in appropriate legal forums both in India and in Malaysia.
• JMC Projects received new infra order worth Rs 554 crore in the building and factory segment. Company has won orders of Rs 4000 crore till date in fiscal 2021.
• Indiabulls Ventures to consider raising preferential issue to foreign investors on Aug.28
• FDC has launched two variants of drug, Favipiravir – PiFLU and Favenza – which will be used to treat mild to moderate cases of COVID-19.
• SeQuent Scientific: Dr. Kamal K Sharma and Mr. Milind Sarwate appointed on the board as independent directors. Dr. Kamal K Sharma will also be the chairman of the company as Dr. Gopakumar G. Nair has stepped down from the afore-mentioned post. Nominee directors from Carlyle Group Neeraj Bharadwaj and Rahul Mukim have joined the board.
• SBI Trustee has acquired 7.99% stake in UFO Moviez due to encumbrance (pledge) of shares on Aug.22
• Acrysil to expand capacity for quartz kitchen sinks by 20% to 6 lakh units per annum at its Gujarat plant to meet increasing demand from the export market. Total capes is Rs 15 crore to be funded by internal accruals and will be commissioned by March 2021.
• GOCL Corporation: Promoter Hinduja Capital plans to reduce stake from 74.93% to 73.83% via open market sale, to comply with FDI norms.
• Bank of Maharashtra allotted 73.6 crore shares at Rs 11.29 per share on a preferential basis the Government of India aggregating to Rs 831 crore. Government’s holding in the Bank has increased from 92.49% to 93.33%.
• Birla Tyres to consider raising Rs 1,100 crore via debt or equity on Aug.28.
• Procter Gamble Hygiene and Health Care has appointed CR Dua as the chairperson of the board with effect from Sept.24.
• J&K Bank to consider raising Rs 4,500 crore during fiscal 2021, on Aug.28.

Other Earnings

Can Fin Homes Q1 (Standalone, YoY)

• Net Interest Income up 23.9% at Rs 191.7 crore
• Net profit up 15.1% at Rs 93.2 crore
• Covid-19 provision of Rs 72.9 crore

Ircon International Q1 (Consolidated, YoY)

• Revenue down 50.8% at Rs 526.9 crore
• Net profit down 76.2% at Rs 34.5 crore
• Ebidta down 66% at Rs 59.8 crore
• Margins at 11.3% versus 16.4%

Earnings Today

• Cupid
• Gillette
• Gujarat Mineral Development
• Indraprastha Gas
• Hindustan Foods
• NACL Industries
• Orient Beverages
• DCM
• Hindustan Foods

Pledged Share Details

• Max Heathcare promoter Max Ventures Investment Holdings created pledge of 1.17 crore shares on Aug. 24.
• Atul promoters created pledge of 2 lakh shares on Aug.24
• Jamna Auto promoter Pradeep Singh Jauhar created pledge of 4.1 lakh shares on Aug.19.
• JSPL promoter Danta Enterprises revoked pledge of 14 lakh shares on Aug.21
• Yes Bank’s ex-promoter Madhu Kapur invoked pledge of 25 lakh shares on March 3

(As Reported On Aug.25)

Who’s Meeting Whom

• Bajaj Consumer Care to meet Invesco Mutual Fund, UTI MF and Pari Washington Company Advisors from Aug.26-27
• IIFL Finance to meet HSBC Global AMC on Aug.27

Bulk Deals

• Phoenix Mills: Royal Bank of Scotland acquired 16.64 lakh shares (0.97%) at Rs 665 per share and promoters Senior Advisory Services and Radhakrishna Ramnarain sold 1.25 crore shares (7.28%) at Rs 666.1 per share.
• Matrimony.com: Mayfield Mauritius sold 23.78 lakh shares (10.45%) at Rs 520 per share, ICICI Pru MF acquired 5.24 lakh shares (2.30%), Massachusetts Institute of Technologies acquired 14 lakh shares (6.15%) at Rs 520 per share and 238 Plan Associates acquired 2.2 lakh shares (0.97%) at Rs 520 per share.
• TCI Express: HDFC MF acquired 2.17 lakh shares (0.57%) at Rs 795 per share.
• Minda Industries: Matthews Asia Dividend Fund sold 1.1 lakh rights shares at Rs 128.89 per rights share.

Trading Tweaks

• AGM Date: Insecticides, 3M India, Birlasoft, Can Fin Homes, Indorama Synthetics, Maruti Suzuki, United Breweries, United Spirits, IG Petrochemicals.
• Fund Raising: Jindal Stainless, Lakshmi Vilas Bank.
• Price Band Revised From 10% To 5%: Affle, Goldstone Tech, Munjal Showa, Allied Digital Services.
• Price Band Revised From 20% To 10%: Remsons Industries, SMVD Poly Pack, Shree Ram Proteins, Punjab Alkalies & Chemicals.
• Move Into ASM Framework: Premier Explosives, GPT Infraprojects, Sintex Industries
• Move Into Short Term ASM Framework: Anant Raj, Sundaram Finance Holdings, Remsons Industries, Premier Polyfilm, Investment Trust Of India, Indo Amines, NGL Fine Chem.
• Move Out Of Short Term ASM Framework: Nitco, Jindal Worldwide

Insider Trades

• Godrej Industries promoter Godrej Seeds and Genetics acquired 1.7 lakh shares from Aug.19-20
• Jamna Auto promoters acquired 2.1 lakh shares on Aug. 21
• Shilpa Medicare promoter Ramakant Inani sold 2.5 lakh shares from Aug.19-24
• Ultratech Cement promoter Pilani Investments sold 1.25 lakh shares on Aug.19
• Dr Lal Pathlabs promoter and director Dr Arvind Lal sold 1.4 lakh shares from Aug. 21-25

(As Reported On Aug.25)

F&O Cues

• Nifty August futures closed at 11,476; premium of 4 points versus premium of 12 points
• Nifty August futures Open Interest down 21.5%, sheds 18 lakh shares in Open Interest
• Nifty Bank August futures closed at 23,091; premium of 1 point versus discount of 19 points
• Nifty Bank August futures Open Interest down 19%, sheds 2.4 lakh shares in Open Interest
• Nifty Put Call Ratio at 1.25

Nifty Monthly Expiry: Aug 27

• Max Open Interest on call side at 11,500 strike (41 lakh shares)
• Max Open Interest on put side at 11,000 strike (33.7 lakh shares)
• Active options: 11,000 Put (4.4 lakh shares), 11,800 Call (8.4 lakh shares)