Stocks To Watch: Future Group, Gujarat Pipavav Port, HDFC Bank, Hindalco Industries, IDBI Bank, Marico, Titan

Asian stocks were mixed Thursday following a three-day rally as investors mulled the spread of the coronavirus and when economies will be able to ramp up again. Oil rose amid expectations for production cuts. Shares in Tokyo dipped and were higher in Sydney and Seoul.

Stocks To Watch

• IDBI Bank: The board has approved a rupee bond borrowing limit of Rs 7,500 crore for the fiscal year 2021. It also gave in-principle approval to sell the bank’s stake in IDBI Federal Life Insurance to the extent of 23 to 27 percent.
• Hindalco Industries: Novelis has received approval from the European Commission for sale of the Duffel facility of Aleris to Liberty House Group for €310 million ($337 million). The facility has a capacity of 200kt of which 100kt was automotive line with a balance being in building construction, distribution, commercial transportation and others.
• Gujarat Pipavav Port March Quarter Update: The cargo volume handled down 10 percent at 197,000 TEUs.
• Punjab & Sind Bank: The board will; consider raising Rs 1,500 crore via QIP and preferential issue on April 15.
• Future Group said to tap UBS to sell stake in insurance joint venture stake. (Bloomberg News)
• Astron Paper & Board Mill said that it has received permission from the government of Gujarat regarding the commencement of production for its unit located at Bhuj. The company’s product kraft paper is used in the manufacturing of corrugated boxes for industries like FMCG, pharma, food oil, etc. as the means of a packaging solution.
• NLC India said that its mining operations of Neyveli mines had started from April 8.

Bulk Deals

• Tata Communications: East Bridge Capital Master Fund acquired 44 lakh shares (1.54 percent) and University of Notre Dam acquired 15 lakh shares (0.53 percent), at Rs 235 per share, respectively and Fidelity Group sold 78.94 lakh shares (2.77 percent) at Rs 235.01 per share.
• Mangalam Cement: India Capital Fund sold 7 lakh shares (2.62 percent) at Rs 150 per share
• Tourism Finance Corporation of India: Sageone Investment Advisors sold 6.6 lakh shares (0.82 percent) at Rs 37.27 per share.
• Sobha: Anamudi Real Estates acquired 5.58 lakh shares (0.59 percent) at Rs 168.71 per share. Anamudi Real Estates in a promoter entity of Godrej Group.

Pledged Share Details

• Adani Transmission promoter SB Adani Family Trust revoked pledge of 97.6 lakh shares on April 7
• Jindal Steel & Power promoter OPJ Trading released pledge of 3.19 crore shares on April 8

(As Reported On April 8)

Who’s Meeting Whom

• Mahindra & Mahindra to meet Nomura Securities and Blackrock Asia on April 9
• Affle to meet Matthews Asia, Helios Capital Management and Malabar Investments on April 9

Trading Tweaks

• Price Band Revised From 10 Percent To 20 Percent: Tata Motors, Aditya Birla Capital, Adani Gas, Apex Frozen Foods, Apollo Pipes, Arvind, Avanti Feeds, Ashoka Buildcon, BEML, Balaji Amines, Aditya Birla Money, Dalmia Bharat, DCB Bank, Finolex Industries, IFB Industries, ICICI Securities, India Cements, IIFL Wealth Management, Inox Leisure, ITD Cementation, Kolte Patil Developers, Nippon Life AMC, NBCC, Prestige Estates Projects, Rain Industries, Shoppers Stop, Sonata Software, Strides Pharma, Sunteck Realty, Tata Elxsi, VIP Industries.
• Price Band Revised From 10 Percent To 5 Percent: Jubilant Life Sciences, Lumax Industries, Phillips Carbon Black, Titagarh Wagons, Wockhardt.
• Price Band Revised From 5 Percent To 10 Percent: CG Power and Industrial Solutions, Hubtown, ITDC, State Trading Corporation of India, Take Solutions.
• Consumer To Move Into ASM Framework: Manali Petrochemicals, OnMobile Global, Future.
• To Move Into Short Term ASM Framework: Emami, Dishman Carbogen Amcis, Procter & Gamble, IG Petrochemicals, Quick Heal Technologies.

Insider Trading

• Graphite India promoter Emerald Company acquired 1.15 lakh shares on March 31
• Patel Engineering promoter Praham India acquired 2.06 crore shares on March 26

(As Reported On April 8)

F&O Cues

• Nifty April futures closed at 8750.5, a premium of 1.8 points versus 83.6 points
• Nifty April futures open interest down 2.5 percent, sheds 2.3 lakh shares
• Nifty Bank April futures closed at 18,889.5, discount of 57 points versus premium of 109.5 points
• Nifty Bank April futures open interest fell 1.5 percent, shed 15,000 shares
• Nifty Put-Call Ratio at 1.30 versus 1.45 (across all series)

Nifty: April 9 Expiry

• Maximum open interest on Call side at 9,000 strike (15.7 lakh shares)
• Max Open Interest on Put side at 8,000 strike (18.6 lakh shares)
• Open interest addition seen in 8,700 Put (+4.7 lakh shares), 8,900 Call (+4.6 lakh shares), 9,000 Call (+4 lakh shares)
• Open interest shedding seen in 8,400 Put (-2.5 lakh shares), 8,300 Put (-2.5 lakh shares)

Nifty Monthly Expiry: April 30

• Maximum Open Interest on Call side at 9,000 strike (15.4 lakh shares)
• Maximum Open Interest on Put side at 8,000 strike (23.1 lakh shares)