Stocks To Watch: GMM Pfaudler, HSIL, HUL, IIFL Finance, JSPL, Manappuram Finance, Muthoot Finance, SBI, Shree Renuka Sugar

Indian equity markets ended the first day of the September series expiry week, ending with steep cuts, in-line with the sour global sentiment. The S&P BSE Sensex 2.1% lower at 38,034 while the NSE Nifty 50 index fell 2.2% to end at 11,250. Only 3 out of the 50 index constituents ended the day with gains.

Here are the stocks to watch in trade today:

• GMM Pfaudler’s promoters to sell up to 28% stake via offer for sale (OFS).Promoters to sell up to 40.93 lakh shares at a Floor Price of Rs 3,500 per share for Rs 1,433 crore. Floor price is at a discount of 33% to closing prices as on Sept.21.Base offer is for 25.71 lakh shares (17.59%), with an oversubscription option of 15.22 lakh shares (10.41%). OFS for non-retail investors on Sept. 22, for retail investors on Sept.23.Promoters Pfaudler Inc, Millars Machinery and Urmi Patel are the sellers.
• JSPL clarified on the media reports that certain transactions undertaken by the company, between 2014-16 were part of routine business activities and all the transactions had proper underlying assets. The company had fully complied with all the extant regulatory guidelines at the time of these transactions.
• Shree Renuka Sugar: Board approved allotment of 21.17 equity shares at Rs 8.74 per share aggregating to Rs 185 crore on a preferential basis to promoter Wilmar Sugar Holdings.
• SBI: Board approved allotment of debentures worth Rs 7,000 crore.
• HSIL: Board approved share buyback of up to 66.67 lakh shares (9.22%) at price of Rs 105 per share aggregating to Rs 70 crore. Promoters stake to increase from 53.91% to 59.38%, if full acceptance of the maximum buyback offer is exercised. Buyback price is at premium of 47% to the closing price as on Sept.21.
• Bombay Burmah Trading: Board to consider raising Rs 75 crore via NCDs on Sept.24.
• Fitch Ratings has taken rating action on the long-term issuer default ratings of four Indian non-bank financial institutions in light of the companies' performance amid the coronavirus pandemic. IIFL Finance 'B+' rating maintained on rating watch negative. Manappuram Finance, affirmed at 'BB-'; rating watch negative removed; outlook stable. Muthoot Finance ,affirmed at 'BB'; rating watch negative removed; outlook stable. Shriram Transport Finance, affirmed at 'BB'; rating watch negative removed; outlook negative.
• IOC: Mega West Coast refiner project held by land issue. (Bloomberg News)
• Aarti Drugs: Record date for bonus issue set as Oct.1. On Aug.20 board approved bonus issue of three shares for every one share held.
• Ceat: Board to consider raising funds via NCDs on Sept.25.

IPO

• Angel Broking: Subscriptions opens on Sept.22.
• Chemcon Speciality Chemicals: Subscribed 5.20 times on Day 1. Institutional subscription at 0 times, non-institutional investor subscription at 1.24 times and retail subscription at 9.86 times.
• CAMS: Subscribed 0.82 times on Day 1. Institutional subscription at 0.25 times, non-institutional investor subscription at 0.30 times and retail subscription at 1.40 times.

Pledged Share Details

• MEP Infra Developers promoter Sudha Mhaiskar revoked pledge of 4.5 lakh shares on Sept.17
• Apollo Micro Systems promoter K.R. Baddam created pledge of 8 lakh shares on Sept.8

(As Reported On Sept.21)

Who’s Meeting Whom

• Rossari Biotech to meet Edelweiss Securities and Neuberger Berman on Sept.22
• IDFC First Bank to meet Wellington Management International UK on Sept.22
• CG Consumer Electricals to meet M&G Investment Management, Alliancebernstein and Mirae AMC from Sept. 24-28
• Care Ratings to meet MK Ventures and India Insight Value Fund on Sept.22
• Welspun Enterprises to meet Antique Stock Broking on Sept.22
• IIFL Finance to meet Trinada Capital on Sept.22
• UPL to meet Amundi Finance, HSBC AMC and other investors from Sept.22-24

Bulk Deals

• Route Mobile: Goldman Sachs acquired 24.09 lakh shares at Rs 705.95 per share and Kuwait Investment Authority acquired 5.79 lakh shares at Rs 697.25 per share.
• Deepak Nitrite: Vanguard acquired 12.03 lakh shares (0.88%) at Rs 839.18 per share.
• Tata Motors DVR: Vanguard acquired 30.42 lakh shares (0.60%) at Rs 63.37 per share.

Trading Tweaks

• AGM Date: Aarti Drugs, Aarti Surfactants, Balrampur Chini Mills, GAIL, JK Tyre, FDC, JB Chemical & Pharma, Apex Frozen Foods, PFC, Muthoot Finance, PNC Infratech, NMDC.
• Ex-Date For Rights Issue: EIH (Rights at 8:84, at a premium of Rs 63 per share).
• Record-Date For Spinoff: Panacea Biotec.
• Price Band Revision From 10% To 5%: Kapston Facilities Management.
• Move Into ASM Framework: Him Teknoforge.
• Move Into Short Term ASM Framework: Alembic, Aurionpro Solutions, Ind-Swift Laboratories, Kopran, Ramkrishna Forgings.

Insider Trades

• HFCL promoter MN Ventures acquired 20 lakh shares on Sept.21
• Mindtree promoters sold 4.34 lakh shares from Sept.15-17
• KPIT Tech promoter Anupama Patil acquired 14 lakh shares on Sept.18

(As Reported On Sept.21)