Stocks To Watch: Eicher Motors, Grasim, Indiabulls Real Estate, RIL, ONGC, Tata Steel

The eight-day rally witnessed by India's benchmark indices came to a halt during the weekly options expiry session. The S&P BSE Sensex ended 0.54% lower at 43,357 while the NSE Nifty 50 index ended 0.4% lower at 12,693.

Here are the stocks to watch in trade today:

• Grasim Industries: Board has approved sale of its fertilizer business to Indorama India (arm of Indorama Corporation) on a slump sale basis for Rs 2,649 crore in cash. Fertilizer business contributed 3.45% of the total consolidated turnover of the company. Capex guidance for fiscal 2021 revised upwards to Rs 1,852 crore.
• Reliance Industries has entered into agreement to make a capital contribution of $50 million in Breakthrough Energy Ventures. The capital contribution commitment of $50 million constitutes 5.75% of the size of the fund contemplated at present. The said investment will be made in tranches over the next 8-10 years. The transaction is subject to approval from Reserve Bank of India.
• Dr. Reddy's Laboratories announced the launch of Succinylcholine Chloride Injection in the U.S. market.
• PNC Infratech: Care Ratings upgraded long term banking facilities worth Rs 1,700 crore to CARE AA from CARE AA-, with outlook remaining stable.
• Future Lifestyle Fashions: Crisil Ratings downgraded long term bank facilities and NCDs to CRISIL B from CRISIL BB, with rating watch with negative implications remaining unchanged due to delay in servicing of interest and principal due on Nov.9 on company’s NCDs.
• Infibeam Avenues to acquire 33.3% stake in So Hum Bharat Digital Payments for Rs 18 crore. Navin Surya and Vishwas Patel, executive director at Infibeam Avenues, set up So Hum Bharat Digital Payments to explore new umbrella entity license. If granted a license from RBI, the new umbrella entity will directly compete with National Payments Corporation of India in the digital payments space.
• Sadbhav Infra Projects: NHAI has accepted to give an arbitration award of Rs 44 crore for company’s arm Dhule Palesner Tollway.
• Varroc Engineering: NCLT Mumbai approved amalgamation of Varroc Lighting Systems with the company.
• Camlin Life Sciences: Board has approved setting up of an additional plant at Dahej with production capacity of 6000 metric ton for manufacturing of ethyl vanillin and allied products for Rs 135 crore.
• Tanla Platforms has been added as part of the MSCI India Domestic Small Cap Index.
• RBL Bank: Board approved allotment of 8.85 crore shares on a preferential basis at Rs 177 per share aggregating to Rs 1,566 crore. Allotment given to Gaja Group, ICICI Pru Life Insurance, CDC Group and Maple B.V.
• NBCC received works contract worth Rs 905 crore for development of Bharat Vandana Park and IIM Vishakapatnam. Supreme Court-appointed receiver has granted the approval to tender all the projects of Amrapali. Company has awarded the work of 22 projects of Amrapali (residential) of total estimated cost of Rs. 7,309.71 crore out of which two projects of Rs. 7.50 crore has been completed and handed over. Further, till now 695 flats have been completed and handed over by the company.
• CG Consumer Electricals: Aditya Birla Sun Life MF increased stake from 4.63% to 5.23% on Nov.10.
• Inox Leisure closed its QIP issue on Nov.12. Board approved the issue price at Rs 255 per equity share, which is at a discount of 3.08% to the floor price.

Nifty Earnings

Eicher Motors Q2 (Consolidated, YoY)

• Revenue down 3% at Rs 2,134 crore versus Rs 2,193 crore (Est Rs 2,092 crore)
• Net profit down 40.1% at Rs 343.3 crore versus Rs 573 crore (Est Rs 334 crore)
• Ebidta down 13% at Rs 472 crore versus Rs 542 crore (Est Rs 414 crore)
• Margins at 22.1% versus 24.7% (Est 19.8%)

Grasim Industries Q2 (Standalone, YoY)

• Revenue down 28.3% at Rs 3,438.2 crore versus Rs 4,795.1 crore (Est Rs 3,625 crore)
• Net profit down 31.6% at Rs 360.2 crore versus Rs 526.5 crore (Est Rs 177 crore)
• Ebidta down 39.6% at Rs 397.9 crore versus Rs 658.7 crore (Est Rs 293 crore)
• Margins at 11.6% versus 13.7% (Est 8.08%)
• Operating profit improved due to lower other expenses, lower power costs and employee expenses

Earnings

Sun TV Network Q2 (Consolidated, YoY)

• Revenue down 4.38% at Rs 768.7 crore versus Rs 803.9 crore (Est Rs 778 crore)
• Net profit down 9.11% at Rs 335.1 crore versus Rs 368.7 crore (Est Rs 380 crore)
• Ebidta up 4.76% at Rs 502.1 crore versus Rs 479.3 crore (Est Rs 514 crore)
• Margins at 65.3% versus 59.6%(Est 66%)
• Margins improve due to lower operating expenses
• Higher tax expenses impact bottom line numbers

Phoenix Mills Q2 (Consolidated, YoY)

• Revenue down 48.2% at Rs 214.9 crore versus Rs 415.1 crore (Est Rs 242 crore)
• Net loss at Rs 35.9 crore versus Net profit at Rs 65.8 crore (Est Net loss at Rs 1.7 crore)
• Ebidta down 56.5% at Rs 91.7 crore versus Rs 210.8 crore (Est Rs 124 crore)
• Margins at 42.7% versus 50.8% (Est 51.2%)

Pledged Share Details

• JSW Energy promoters released pledge of 19.1 lakh shares on Nov.11
• CG Consumer Electricals promoter Amalfiaco created pledge of 2.86 crore shares on Nov.10
• Bliss GVS Pharma promoters created pledge of 1.4 lakh shares on Aug.31
• Hatsun Agro Product promoter C.Sathyan created pledge of 18.7 lakh shares on Nov.11

(As Reported On Nov.12)

Bulk Deals

• Indiabulls Real Estate: Rare Enterprises acquired 50 lakh shares (1.1%) at Rs 57.73 per share and Morgan Stanley Asia sold 75.8 lakh shares (1.67%) at Rs 57.16 per share. Rare Enterprises is promoted by Rakesh Jhujhunwala.
• Just Dial: Promoter Venkatachalam Sthanu Subramani acquired 3.13 lakh shares (0.51%) at Rs 608.87 per share.
• Tourism Finance Corporation of India: Sameer Gupta acquired 5 lakh shares (0.62%) at Rs 39.54 per share.

Block Deals

• Hatsun Agro Product: Promoter Chandramogan Sathyan acquired 1.72 lakh shares at Rs 825 per share and Malabar Select Fund acquired 1.4 lakh shares at Rs 825 per share.

Trading Tweaks

• AGM: P&G Hygiene and Health Care.
• Record Date For Buyback: NTPC, Ajanta Pharma, Majesco.
• Price Band Revised From 5% To 2%: Jump Networks, Saven Tech.
• Move Into ASM Framework: Xpro India, PG Electroplat, Vikas EcoTech.
• Move Out Of Short Term ASM Framework: Auro Labs, Aimco Pesticides.

Insider Trades

• HFCL promoter MN Ventures acquired 10 lakh shares on Nov.12

(As Reported On Nov.12)

F&O Cues

• Nifty November futures closed at 12,704; premium of 13 points vs premium of 17 points
• Nifty November futures Open Interest down 3.4%, sheds 4.1 lakh shares in Open Interest
• Nifty Bank November futures closed at 28,310; premium of 31 points vs premium of 2 points
• Nifty Bank November futures Open Interest down 4.1%, sheds 78,000 shares in Open Interest

Options

• Nifty PCR at 1.54

Nifty Monthly Expiry: Nov 19

• Max Open Interest on call side at 13,000 (23.5 lakh shares)
• Max Open Interest on put side at 12,600 (11.5 lakh shares)
• Active options: 12,600 Put (+7.8 lakh shares), 13,000 Call (+8.9lakh shares)

Nifty Monthly Expiry: Nov 26

• Max Open Interest on call side at 13,000 (19.7 lakh shares)
• Max Open Interest on put side at 12,000 (33.5 lakh shares)