Stocks To Watch: GAIL, IT Stocks, Marico, M&M, ONGC, Shriram City Union Finance, Tata Consumer Products

Stocks in Asia rose Friday with U.S. equity futures as investors weighed the chances of a new American stimulus package against an uptick in global coronavirus cases. The offshore yuan climbed on optimism about inflows into Chinese assets. Japanese and South Korean shares opened higher.

Here are the stocks to watch in trade today:

• Tata Consumer Products is weighing a non-binding bid for the vending machine business of Coffee Day Enterprises, which is seeking a valuation of about Rs 2,000 crore for the vending machine business. (Bloomberg News).
• IT Stocks: Accenture reported fiscal fourth-quarter results ending on Aug.31 for fiscal 2020 that missed analysts' expectations and offered guidance for the new-year (fiscal 2021) that was below views as the Covid-19 pandemic continues to create uncertainty and volatility, the company said.KC McClure, CFO of the company stated in the conference call that he expects growth to be lower in the first half of fiscal 2021 (September 2020-February 2021) and higher growth can be expected in the second half in the range of single digits to low double digits. Revenue in the three months ending Aug. 31 fell 2% to $10.84 billion, while the estimates were for $10.93 billion.
• RBI imposed a penalty of Rs 5 lakh on Shriram City Union Finance for non-compliance with directions issued by RBI on verification of the ownership of gold jewellery contained in the company.
• Mahindra & Mahindra has increased its stake in Finnish associate company Sampo from 49.14% to 74.97%. Sampo is a European combine harvester company,well-known for mid-sized combine harvesters.
• GAIL said that ONGC plant fire has cut 30 MMSCMD gas supply and has cut gas supplies to end-users by 40% citing force majeure. The company stated that it is continuing to maintain supplies for the city gas distribution business. GAIL shops gas from ONGC’s Hazira plant in Gujarat to users and company’s pipeline network has been unharmed by fire. In a separate press release, ONGC stated that the fire in Hazira plant and been extinguished. All efforts are being made to resume normal operations in the plant at the earliest
• TCS to help build green-field IT ecosystem for Maurices, which is a women’s fashion-apparel retail chain in the US and Canada.
• Nippon Life AMC has received a joint mandate (along with another fund manager) to manage the investments of Post Office Life Insurance Fund and Rural Post Office Life Insurance Fund for a period of three years with effect from Oct.1.
• Marico has sold its entire stake in fitness app Revolutionary Fitness (‘Revofit’).
• CCI received green channel combination pertaining acquisition of GVK Airport Developers by Adani Airport Holdings. This is the 17th green channel filing.
• Balkrishna Industries: Board noted the resignation of Basant Bansal as CFO with effect from Aug. 28. Company’s current President (Financial) Madhu Sudan Bajaj appointed as CFO with effect from Sept. 24.
• HUDCO has achieved loan sanctions of Rs 2,607.12 crore and loan releases of Rs 3,277.04 crore, as on Aug. 31 for fiscal 2021.
• RITES has been awarded turnkey contract for construction of road over bridges in replacement of existing level crossings on competition basis from Railway Board amounting to Rs. 205.85 crores.
• Sadbhav Engineering: Care Ratings downgraded long-term bank facilities to CARE BBB+ from CARE A-, with outlook changing from stable to credit watch with negative implications.
• IRB Infra Developers has received completion certificate for Yedeshi Aurangabad BOT project. The company will collect toll at full rates on this project.
• Max Ventures & Industries clarified that news on suspicious fund flows by some of the company’s unlisted entities as totally misconceived and baseless.
• SEBI levied a fine of Rs 5 lakh on an employee of Biocon for violating insider trading norms while dealing in the scrip of the firm.

IPO

• Angel Broking: IPO subscribed 3.95 times on last day. Institutional subscription at 5.76 times, non-institutional investor subscription at 0.69 times and retail subscription at 4.32 times.

Pledged Share Details

• Dhanuka Agritech promoter Puspha Dhanuka Trust released pledge of 38 lakh shares on July 3
• Emami promoters released pledge of 5.3 lakh shares on Sept. 22
• Ajanta Pharma promoter Aayush Agrawal revoked pledge of 3 lakh shares on Sept. 22
• Jindal Stainless promoters created pledge of 1.9 crore shares on Sept. 21

(As Reported On Sept. 24)

Who’s Meeting Whom

• Atul Auto to meet Laburnum Capital on Sept. 25
• Dixon Tech to meet Kotak Mahindra, Morgan Stanley and Anand Rathi from Sept. 25-28
• Eicher Motors to meet Sundaram MF on Sept. 25
• Rossari Biotech to meet Taiyo Pacific and Edelweiss Securities from Sept. 25-28

Bulk Deals

• Advanced Enzyme Tech: Nalanda India Equity Fund acquired 41.9 lakh shares (3.75%) at Rs 263.8 per share and Advanced Vital Enzymes sold 30 lakh shares (2.69%) at Rs 265 per share.
• Dixon Tech: Vanguard Group acquired 64,452 shares (0.56%) at Rs 8,402 per share and Max Life Insurance sold 65,000 shares (0.56%) at Rs 8,402.01 per share.
• Zee Entertainment: Integrated Core Strategies acquired 49.63 lakh shares (0.52%) at Rs 190.53 per share.
• Rushil Décor Rights Issue: Plutus Wealth Management acquired 25,500 shares at Rs 17.05 per share.

Trading Tweaks

• AGM Date: Hinduja Global Solutions, Apollo Hospitals, Arvind, Berger Paints.
• Fund Raising: Ceat, Canara Bank.
• Record Date For De-merger: Man Industries.
• Ex-Date For Share Buyback: Dhanuka Agritech.
• Ex-Date For Bonus Issue: Suven Pharma.
• Price Band Revision From 10% To 5%: Satin Creditcare Network.
• Move Into ASM Framework: JMT Auto, Mastek, Bafna Pharmaceuticals.
• Move Into Short Term ASM Framework: Vikas WSP.
• Move Out Of Short Term ASM Framework: Max India, Bedmutha Industries.

Insider Trades

• HFCL promoter MN Ventures acquired 12.5 lakh shares on Sept. 24
• Max Financial Services promoter Max Ventures Investment Holdings sold 40 lakh shares from Sept. 22-23
• Jamna Auto promoter Pradeep Singh Jauhar acquired 1.5 lakh shares on Sept. 22

(As Reported On Sept. 24)

F&O Cues

• Nifty October futures closed at 11,840; premium of 36 points vs premium of 17 points
• Nifty October futures Open Interest up 42%, adds 24lakh shares in Open Interest
• Nifty Bank October futures closed at 20540; premium of 83 points vs 122 points
• Nifty Bank October futures Open Interest up 38%, adds 4.6lakh shares in Open Interest

Options

• Nifty PCR at 1.22

Nifty Monthly Expiry: Oct. 1

• Max Open Interest on call side at 11,000 (20.7 lakh shares)
• Max Open Interest on put side at 10,900 (11.6 lakh shares)
• Active options: 10,900 Put (6.25 lakh shares), 11,000 Call (19.4lakh shares)

Nifty Monthly Expiry: Oct. 29

• Max Open Interest on call side at 11,500 (15.2 lakh shares)
• Max Open Interest on put side at 10,500 (30.4 lakh shares)