Stocks To Watch: Future Group, Indiabulls Ventures, RBL Bank, RIL, Wockhardt
A bronze bull statue stands at the entrance to the Bombay Stock Exchange (BSE) building in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Stocks To Watch: Future Group, Indiabulls Ventures, RBL Bank, RIL, Wockhardt

Markets in Asia have opened higher, suggesting that the rally that lifted global equities to record highs has more legs left.

The Yen has pared some of Friday's gains as Japan looks for a new Prime Minister post Shinzo Abe's resignation.

Futures on the Dow Jones are trading higher by 150 points. The index ended 0.6% higher on Friday.

The U.S. Dollar is steady near a two-year low while treasuries rose on Friday.

Stocks To Watch

  • RIL-Future Group Deal: Future Group to sell its retail, wholesale, logistics and warehousing assets to Reliance Industries' retail arm Reliance Retail, at a value of Rs 27,513 crore. The transfer of assets and liabilities will take place after a reorganisation at the Future Group in which key group companies - Future Retail, Future Lifestyle Fashions, Future Consumer, Future Supply Chain Solutions and Future Market Networks will be medged into Future Enterprises. Brands like Big Bazaar, FBB, Foodhall, Easyday, Nilgiris, Central and Brand Factory will be sold for Rs 5,628.33 crore. Reliance Retail will also invest Rs 1,200 crore in a preferential issue of shares by Future Enterprises for a 6.09% stake.
  • NMDC: The company said in a conference call that the demerger process of its steel plant to take at least 8-9 months. Capex incurred on the steel plant stards at Rs 17,000 crore and pending capex of Rs 4,000 crore. Balance funding will be through leveraging the steel plant, which is expected to be commissioned by 2021.
  • ITC: To consider proposal for amalgamation of its three wholly-owned arms - Sunrise Foods, Hobbits International Foods and Sunrise Sheetgrah with itself on September 4.
  • Indiabulls Ventures: Board approves preferential issue of 3.36 crore equity shares at Rs 175 per share worth Rs 588 crore. Investors like Think India Opportunities Fund, TIMF Holdings, Ribbit Cayman Holdings, Inteligo Bank, NWI Emerging Market Fixed Income Master Fund and First Royalty Ventures have been allotted shares. The board has appointed Sameer Gehlaut as the company's Chairman and CEO.
  • RBL Bank: MD & CEO, Vishwavir Ahuja sold 18.93 lakh shares between August 27-28 worth Rs 38.52 crore to meet personal debt obligations. The amount of shares sold is approximately 18% of his or his family's aggregate holdings of the bank as on date.
  • Inox Wind: Board approves raising Rs 200 crore via issue of securities.
  • J&K Bank: Board approved raising Rs 3,500 crore via equity and Rs 1,000 crore via NCDs.
  • South Indian Bank: To consider raising funds via equity and debt and September 4.
  • Ramkrishna Forgings: Board to consider raising Rs 150 crore via NCDs from International Financial Corporation on September 2.
  • IIFL Finance: Moody's Investors Service has extended its review for downgrade of the company's corporate family rating, B1 senior secured MTN program rating and B1 senior secured debt rating. The extension of the review for downgrade takes into account the still considerable uncertainty regarding the impact of the pandemic-driven economic disruption on the company’s loan collections and asset quality. As of June 30, 31% of the company's loans were under moratorium.
  • Balkrishna Industries: BK Bansal resigns as CFO from August 28. He will be replaced by MS Bajaj, who was the Assistant Vice President at Hindustan Vidyut Products.
  • JSW Energy: To consider appointment of key managerial personnel on September 1.
  • CG Power: Lenders of the company have approved Tube Investments' offer as the successful offer, subject to compliances with all the conditions stated in the Letter of Intent, to the satisfaction of the lenders.
  • Non-Nifty Earnings Today: Arvind, Bharat Dynamics, GNFC, JK Cement, Morepen Laboratories, NHPC, Sadbhav Infra, Spandana Sphoorty

Pledged Share Details

  • JSW Steel: Promoters created pledge of 80 lakh shares on August 25.
  • JSPL: Promoter Danta Enterprises revoked pledge of 59.5 lakh shares between August 25-26.
  • Max Healthcare: Promoter Max Ventures released pledge of 15.54 lakh shares between August 25-27.

(As reported on August 28.)

Who’s Meeting Whom

  • Mahindra & Mahindra: To meet MFS Investment Management on September 3.
  • Cipla: To meet Vontobel AMC on August 31.
  • Tata Motors: To meet Ashmore Investment Advisors, CLSA and other investors between September 2-4.
  • CRISIL: To meet JP Morgan AMC, Goldman Sachs and other investors between August 31 - September 9.
  • Mahindra Logistics: To meet Birla Sunlife Insurance and Philip Capital on September 2.

Bulk Deals

  • India Energy Exchange: PPFAS Mutual Fund acquired 24.38 lakh shares (0.81%) at Rs 190 per share and Rural Electrification Corporation sold 26.01 lakh share (0.87%) at Rs 190.12 per share.
  • Sheela Foam: Promoter Tushaar Gautam sold 10 lakh shares (2.05%) at Rs 1,365 per share and DSP Mutual Fund acquired 5.9 lakh shares (1.21%) at Rs 1,365 per share.

Trading Tweaks

  • AGM Date: CARE Ratings, Ashoka Buildcon.
  • Fund Raising: Welspun Corp, SRF, Sadbhav Infaprojects, Kellton Tech Solutions.
  • Ex-Date For Share Split: Morganite Crucible (From FV of Rs 10 to Rs 5 per share)
  • Move Into ASM Framework: V2 Retail, Nahar Spinning Mills, Ganesh Housing Corporation, DCM, Arshiya, Technofab Engineering, MSP Steel & Power.
  • Move Out Of ASM Framework: Aarti Drugs, Shriram EPC, Birla Cable, Jayant Agro Organics, Saregama India, ADF Foods, Skipper, Sical Logistics, Infibeam Avenues, Eros International Media, Nandan Denim, HT Media, RSWM, Precot Meridian.
  • Move Into Short Term ASM Framework: Dish TV, Sanco Industries.
  • Move Out Of Short Term ASM Framework: Hi-Tech Pipes, Cimmco, Capacit'e Infraprojects, Industrial Investment Trust, Pricol.

Insider Trades

  • JSW Steel: Promoter JTPL Metal Traders acquired 22 lakh shares between August 25-26.
  • Shilpa Medicare: Promoter Omprakash Inani sold 1.39 lakh shares between August 26-27.
  • Dr Lal Pathlabs: Promoter Dr Arvind Lal sold 1.15 lakh shares on August 26.
  • Dollar Industries: Promoter Simplex Impex acquired 80,000 shares between August 26-27.

F&O Cues

  • Nifty September futures ended at 11,682; premium of 34 points from 21 points
  • Nifty September futures add 4% and 5 lakh shares in Open Interest
  • Nifty Bank September futures ended at 24,622; premium of 98 points from 2 points
  • Nifty Bank September futures add 17% and 2.1 lakh shares in Open Interest
  • Nifty Put-Call Ratio at 1.41
  • Stocks In F&O Ban: Bank of Baroda, Vodafone Idea

Nifty: September 3 Expiry

  • Maximum Open Interest on Call side at 12,000 strike (24.3 lakh shares)
  • Maximum Open Interest on Put side at 11,500 strike (28.3 lakh shares)
  • Active Options: 11,600 Put (13 lakh shares) and 12,000 Call (9.4 lakh shares)

Nifty: September 24 Expiry

  • Maximum Open Interest on Call side at 12,000 strike (22 lakh shares)
  • Maximum Open Interest on Put side at 11,000 strike (27.2 lakh shares)

F&O Buzzers & Fund Flows

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