Stocks To Watch: Gillette, Lakshmi Vilas Bank, Ramkrishna Forgings, Tube Investments
A broker monitors stock while sipping tea at a brokerage firm in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Stocks To Watch: Gillette, Lakshmi Vilas Bank, Ramkrishna Forgings, Tube Investments

Indian equity markets saw a sharp surge in the final hour of trading to end the November F&O expiry session on a strong note. The S&P BSE Sensex ended 1% higher at 44,259 while the NSE Nifty 50 index recovered over 200 points from the day's low to end just below the mark of 13,000. The index closed 1% higher at 12,987.

Here are the stocks to watch in trade today:

  • Several promoter entities challenge the scheme of amalgamation between Lakshmi Vilas Bank and DBS Bank India. RBI’s counsel said that continuity of financial system, depositor interest and economy was important. The moment moratorium is removed, commerce cycle will resume. This is a legislative action by the Union of India and petitioners are asking for a stay on a legislative action, added the RBI’s counsel. Bombay High Court has refused ad interim relief in response to the petition filed by the promoters of Lakshmi Vilas Bank. Lakshmi Vilas Bank has informed exchanges that Tier-2 bonds will be written down as part of amalgamation with DBS Bank.
  • Tube Investments has completed the allotment of equity shares and now holds 50.62% stake in CG Power and is also classified as the promoter of the company. Totally 64.3 crore equity shares were allotted at Rs 8.56 per share aggregating to Rs 550 crore and 17.5 crore share warrants aggregating to Rs 37.5 were allotted.
  • Ramkrishna Forgings has started the commercial production of hollow spindle line with effect from Nov. 26. This will enhance the production capacity by 10,200 tons per annum.
  • Gillette has received an order of National Anti-Profiteering Authority has alleges that the company has profiteered to the tune of Rs 58 crore and has directed the company to deposit the profiteered amount with interest in Consumer Welfare Funds. The company responded saying that it has passed on the net benefit of the reduced GST rates to its recipients and has not profiteered from it. The Company is reviewing the said order and will take appropriate steps in due course.

Pledge Share Details

  • Adani Green Energy promoter Adani Trading Services released pledge of 1.1 crore share on Nov. 23
  • JSPL promoters created pledge of 22 lakh shares from Nov. 20-26

(As reported on Nov. 26)

Bulk Deals

  • Paisalo Digital: Heshika Growth Fund sold 2.34 lakh shares (0.92%) at Rs 381.63 per share and ANTARA India Evergreen Fund acquired 2.34 lakh shares (0.92%) at Rs 381.64 per share.
  • Greaves Cotton: Smallcap World Fund sold 38.79 lakh shares (1.68%) at Rs 75.27 per share.
  • Tube Investments of India: Smallcap World Fund acquired 23.66 lakh shares (1.26%) at Rs 841 per share and HDFC Mutual Fund sold 23.5 lakh shares (1.25%) at Rs 841 per share.

Who’s Meeting Whom

  • Gujarat Pipavav Port to meet Capital International Investors on Nov. 27

Trading Tweaks

  • Price Band Revised From 20% To 10%: DB Realty, Rushil Décor.
  • Price Band Revised From 10% To 5%: Agro Phos, Tijaria Polypipes, OnMobile Global.
  • Move Into ASM Framework: Alphageo, Bkm Industries.
  • Move Into Short Term ASM Framework: Reliance Capital, Rushil Décor, SKIL Infra, Panama Petrochem.
  • Move Out Of Short Term ASM Framework: HSIL, HPL Electric & Power, MAS Financial Services.

Insider Trades

  • HFCL promoter MN Ventures acquired 5 lakh shares on Nov. 26
  • Godrej Industries promoter Anamudi Real Estates acquired 2.1 lakh shares from Nov. 20-23
  • SMS Pharma promoters sold 32 lakh shares on Nov. 25
  • Sequent Scientific promoter Chayadeep Ventures sold 50,193 shares on Nov. 24
  • Aarti Industries promoters sold 1.45 lakh shares from Nov. 17-25

(As reported on Nov. 26)

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