Stocks To Watch: Care Ratings, Central Bank Of India, DHFL, Fortis Healthcare, Future Retail, HCC, ICRA Ratings, RIL, Tata Group, Vedanta
Stock price information is displayed on a screen. (Photographer: Dario Pignatelli/Bloomberg)

Stocks To Watch: Care Ratings, Central Bank Of India, DHFL, Fortis Healthcare, Future Retail, HCC, ICRA Ratings, RIL, Tata Group, Vedanta

Indian equity markets ended off the lowest point of the day but ended with declines for the fourth straight session, in-line with the global sentiment. The S&P BSE Sensex ended 0.8% lower at 37,734 while the NSE Nifty 50 index fell 0.9% to 11,153.

Here are the stocks to watch in trade today:

  • Tata Group Stocks: Shapoorji Pallonji group stated before the Supreme Court that a separation from the Tata group is necessary due to the potential impact this continuing litigation could have on livelihoods and the economy. The statement comes after Supreme Court barred the Mistry group from pledging or selling any Tata shares until Oct.28
  • Vedanta: 4 promoter entities created a combined share pledge of 186.3 crore shares or 50.13% equity stake as per the agreement on Sept.18. The facility agreement has been entered for the purpose of availing loan facility of $1.75 billion by Vedanta Resources. Lenders include JP Morgan Chase Bank, Barclays Bank, Credit Suisse, Deutsche Bank and Standard Chartered Bank. Promoters had 50.14% stake in the company as per the recent shareholding pattern. The funds raised pursuant to the issue of the bonds (via Vedanta Holdings Mauritius) will be utilized towards funding the proposed de-listing of Vedanta as per SEBI regulations. The facility agreement envisages creation of encumbrance over company’s shares by promoter entities, who are required to retain control over the company and there are certain restrictions on disposal on the company’s shares.
  • Central Bank of India has launched its QIP issue at a floor price of Rs 16.18/share on Sept.22. The floor price at a discount of 5.9% to the closing prices on Sept.22. As per SEBI regulation, company may offer a discount of not more than 5% on the floor price. Panel is scheduled to meet on Sept.25 to consider the date of closing QIP and issue price for sale
  • Reliance: Jio has introduced postpaid plans, which include subscription to Netflix, Amazon Prime and Disney + Hotstar. Family plan, data rollover, in-flight services are also included in the offering. Service will be starting from Sept.24 in Jio stores and home delivery.
  • Fortis Healthcare: Supreme Court has adjourned Fortis open offer case to Oct.14. Lawyer Harish Salve stated that IHH wants to invest in Fortis Hospital chain and re-brand it. (Bloomberg News)
  • Linde India has sought extension from CCI for gas supply agreement up to Nov. 2021. This agreement extension has been made as the proposed divestment of company’s Beloxy divestment business to Inox Air Products, have crossed the time line (i.e. Sept.8) for investment as per the term sheet. Inox Air Products has conveyed its inability to acquire the afore-said business.
  • DHFL: SEBI has restrained certain members of Wadhawan family including Kapil and Dheeraj Wadhawan from accessing securities markets. DHFL's RBI appointed administrator had unearthed certain alleged fraudulent transactions based on an initial report by a transaction auditor. SEBI has observed that the report raises serious questions on reliability of the company’s financials. Wadhawans have defrauded investors by showing fraudulent transactions as bona-fide, it has said.
  • HCC has closed sale of Farakka Raiganj Highways to Cube Highways at enterprise value of Rs 1,508 crore. Total expected pay-out of Rs 603 crore over time to HCC Group.
  • SEBI has imposed Rs 1 crore penalty on Care Ratings and ICRA Ratings, each in IL&FS Case.
  • Sequent Scientific has entered into definitive agreement with promoter Dr. Huseyin Aydin for the acquisition of 40% stake from him in Provet for $17.1 million. Provet is amongst the top 3 and the largest local company in veterinary medicines market in Turkey. Company already held 60% stake in Provet via its Irish arm. Ownership will increase from 60% to 100% in Provet. Deal expected to be completed on or before Oct.31.
  • Future Retail defaulted in payment of NCDs interest worth Rs 15.87 crore, which was due on Sept.21.
  • Max Healthcare Institute: Promoter Max Ventures Investment Holdings to undertake open market sale of 1.67 crore shares (1.85%) with face value of Rs 10 per share, inorder to achieve minimum public shareholding as per SEBI guidelines. Promoters had 82.24% stake in the company as per the most recent public shareholding patter.
  • Biocon has appointed Anupam Jindal as the CFO of the company with effect from Sept.22. Anupam Jindal is the ex-Group CFO of Sterlite Tech.

IPO

  • Angel Broking: IPO subscribed 0.77 times on Day 1. Institutional subscription at 0 times, non-institutional investor subscription at 0.16 times and retail subscription at 1.46 times
  • Chemcon Speciality Chemicals: IPO subscribed 12.65 times on Day 2. Institutional subscription at 1.37 times, non-institutional investor subscription at 3.51 times and retail subscription at 23.01 times.
  • CAMS: IPO subscribed 1.93 times on Day 2. Institutional subscription at 0.83 times, non-institutional investor subscription at 1.22 times and retail subscription at 2.91 times.

Pledged Share Details

  • Laurus Labs promoters released pledge of 9.75 lakh shares on Sept.21
  • Ramkrishna Forgings promoters created pledge of 37.5 lakh shares on Sept.22
  • VA Tech Wabag promoter S. Varadarajan revoked pledge of 16.77 lakh shares on Sept.21
  • Max India promoter Max Ventures Investment Holdings released pledge of 34.46 lakh shares on Sept.18

(As Reported On Sept.22)

Who’s Meeting Whom

  • Sundram Fasteners to meet Carnelian Asset Management on Sept.23
  • Tata Consumer Products to meet Eastspring Investments, Franklin Templeton and other investors from Sept.23-24

Bulk Deals

  • Majesco: Unifi Wealth Management acquired 2.06 lakh shares (0.72%) at Rs 779.05 per share.
  • Repco Home Finance: Fidelity Group acquired 4.2 lakh shares (0.67%) at Rs 150.33 per share.
  • Max Financial Services: Promoter Max Ventures Investment Holdings sold 20.8 lakh shares (0.77%) at Rs 600.07 per share.

Trading Tweaks

  • AGM Date: Bharat Forge, Coal India, Den Networks, DLF, Endurance Tech, Entertainment Network, Vedanta, Jindal Steel & Power, Motherson Sumi Systems.
  • Fund Raising: Spandana Sphoorthy Financial.
  • Record Date For Rights Issue: EIH (Rights at 8:84, at a premium of Rs 63 per share).
  • Listing: Fortis IHH.
  • Price Band Revision From 10% To 5%: Vikas WSP.
  • Move Into Short Term ASM Framework: Kapston Facilities Management, Bafna Pharmaceuticals.
  • Move Out Of Short Term ASM Framework: Blue Dart Express, Indiabulls Ventures, Forbes.

Insider Trades

  • Surya Roshni promoters acquired 93,750 shares from Sept.17-21.
  • Sequent Scientific promoter Chayadeep Ventures sold 2.63 lakh shares from Sept.17-18.
  • IIFL Wealth Management promoter Karan Bhagat acquired 1 lakh shares on Sept.22.
  • Dish TV promoters sold 4.15 crore shares from July 27-Sept.18

(As Reported On Sept.22)

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