Stocks To Watch: Dr. Reddy’s, Hero MotoCorp, Reliance Power, Tata Motors, Coal India
A financial trader reacts as he works at his computer screens at the Frankfurt Stock Exchange. (Photographer: Ralph Orlowski/Bloomberg)

Stocks To Watch: Dr. Reddy’s, Hero MotoCorp, Reliance Power, Tata Motors, Coal India

Indian equity markets ended the first session of this truncated week on a strong note. Benchmark indices ended at a record high with gains witnessed across the board. The S&P BSE Sensex ended 1.15% higher at 44,655 while the NSE Nifty 50 index ended 1% higher at 13,099.

Here are the stocks to watch in trade today:

  • Dr. Reddy's Laboratories Ltd. and Russian Direct Investment Fund have commenced adaptive phase 2/3 clinical trials for Sputnik V vaccine in India after receiving the necessary clearance from the Central Drugs Laboratory, Kasauli, India.
  • Godrej Industries: ICRA has assigned A1+ rating to the company’s issue of Commercial Paper Programme of up to Rs 1,500 crore.
  • KEC International: ICRA assigned a AA- rating to External Commercial Borrowing (Foreign Currency Term Loan) of $20 million. AA- (stable) rating reaffirmed and withdrawn as the NCDs have been fully redeemed and there is no amount outstanding.
  • Glenmark Pharmaceuticals: Issued a notice of optional redemption to the holders of $200 million 4.5% Senior Notes due 2021 listed on the Singapore Exchange Securities Trading Limited. The company will redeem $7,500,000 aggregate principal amount outstanding of its 4.5% Senior Notes due 2021 on Dec. 11, 2020.
  • Sakthi Sugars: Default in payment of interest and repayment of principal amount continues beyond 30 days from the due date. The Total Financial lndebtness, including short term and long term debt stands at Rs 1,624.66 crore.
  • UPL: AgroFresh litigation update – USA court reduces award from $31 million to $13 million in a major relief to the company. The District Court in Delaware substantially reduced the earlier October 2019 jury verdict of $31 million to $13 million by its judgement of November 30, 2020. The court also vacated a number of jury’s determination on key counts. This litigation relates to an ongoing intellectual property litigation regarding TruPick, a 1-MCP product launched by the post-harvest business of UPL in USA in 2016. UPL has already made a provision for the full $31 million jury award in the FY 2019-20.
  • Coal India: Production in November up 3.3% year-on-year to 51.7 MT while offtake up 8% year-on-year to 51.3 MT.
  • Reliance Power defaults on interest payments due on term loans from Axis Bank, Yes Bank and IDBI Bank. The company has total financial indebtedness of Rs 1,360 crore.
  • Phoenix Mills Ltd. and its subsidiaries have jointly signed a non-binding term-sheet with an affiliate of GIC Private Ltd., for formation and development of a strategic retail-led mixed use platform. GIC will invest in the PML subsidiaries by way of a combination of primary infusion and secondary purchase of equity shares. Subject to mutually agreed terms and conditions between the parties, GIC will initially acquire an equity stake of 26%; the parties to the transaction may mutually agree for GIC to further increase its stake up to 35% within a 12 month period from the closing of the proposed transaction.

November Auto Sales

  • Hero MotoCorp: Overall sales up 14.4% at 5,91,091 units. Domestic sales up 13.8% at 5,75,957 units while exports up 40% at 15,134 units.
  • SML Isuzu: Overall sales down 1% at 516 units
  • Tata Motors: Overall sales up 21% at 49,650 units. Domestic sales down 4% at 47,859 units. Commercial vehicle sales down 2% while Passenger Vehicle sales down 8%

Who’s Meeting Whom

  • Endurance Technologies: To meet UTI Mutual Fund on Dec. 2.
  • Mahanagar Gas: To meet First State Stewart Asia on Dec. 4.
  • ABB Power Products And Systems India: To meet ICICI Prudential MF and IIFL on December 2.
  • United Spirits Limited: To meet Alchemy Capital Management on Dec. 2.
  • Tech Mahindra: To participate in Nomura Investment Forum 2020 on Dec. 2 and Jefferies India ESG Summit on December 7.
  • Trident: To participate in Asian Markets Securities (AMSEC) conference on Dec. 2.
  • Welspun India: To participate in Asian Markets Securities conference on Dec. 3.
  • Cipla: To participate in FIL India Virtual Trip 2020 on Dec. 2.

Bulk Deals

  • Biofil Chemicals & Pharmaceuticals: Tejal Keyur Shah sold 95,000 shares (0.58%) at Rs 229.65 per share.
  • Vikas Multicorp: Albula Investment Fund bought 72 lakh shares (1.09%) at Rs 7.60 per share.
  • Hemisphere Properties: Amansa Holding sold 17.27 lakh shares (0.61%) at Rs 64.5 per share.
  • Tata Coffee: F Born A G sold 22.21 lakh shares (1.19%) at Rs 105.16 per share.
  • Praj Industries: Tata Capital Financial Services sold 11.64 lakh shares (0.64%) at Rs 91.16 per share.
  • Snowman Logistics: Adani Logistics sold 11.56 lakh shares (0.69%) at Rs 56.73 per share.

Insider Trades

  • L.G.Balakrishnan & Bros: Promoter V Rajvirdhan sold 53,000 shares on Nov. 27.
  • Asian Granito India: Promoter Kamleshbhai Bhagubhai Patel acquired 25,000 shares on Nov. 27.

Pledge Share Details

  • Chambal Fertilisers & Chemicals promoter Zuari Global created a pledge of 32 lakh shares on Nov. 27.
  • Sun Pharma Advanced Research Company promoter Raksha Valia revoked pledge of 34 lakh shares on Nov. 26.
  • Adani Ports And Special Economic Zone promoter Adani Tradeline revoked pledge of 4.24 lakh shares on Nov. 26.
  • JSW Energy promoter Indusglobe Multiventures revoked pledge of 2.26 crore shares on Nov. 27.

Trading Tweaks

  • Move into short-term ASM framework: Action Construction Equipment, Nila Infrastructures, Puravankara, BMW Industries, JTL Infra, Kovai Medical Center & Hospital, Udaipur Cement Works, Action Construction Equipment.
  • Move out of short-term ASM framework: Aarti Surfactants, Snowman Logistics, Inox Wind, Lakshmi Vilas Bank, Aarti Surfactants
  • Move into ASM framework: Aarti Surfactants, Shivam Autotech, Dhani Services, The Orissa Minerals Development Company, Housing Development and Infrastructure Limited.
  • Price band revised from 10% to 5%: Jai Balaji Industries.
  • Price band revised from 20% to 10%: Action Construction Equipment, Dhani Services.
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