Stocks To Watch: Godrej Properties, Hindustan Aeronautics, ICICI Bank, Indiabulls Real Estate, Indraprastha Gas, ITC, Oberoi Realty

Asian stocks began Thursday’s session mixed as a rally that pushed global equities to a record high showed signs of stalling ahead of a speech from Federal Reserve Chair Jerome Powell. The dollar edged lower. Japanese shares slipped, while those in South Korea and Australia traded flat.

Here are the stocks to watch in trade today:

• Government proposes to sell up to 15% stake in Hindustan Aeronautics via offer for sale mechanism. Government to sell up to 3.34 crore shares (10% stake) at a floor price of Rs 1,001 per share for Rs 3347.29 crore, with oversubscription option for another 1.67 crore shares (5% stake). Floor price is at a discount of 15% to closing prices as on Aug. 26 Government’s stake to come down from 89.97% to 74.47%, if OFS is fully oversubscribed. The offer will open for non-retail investors on Aug.27 and for retail investors on Aug.28
• Godrej Properties, Sunteck Realty, Kolte Patil Developers, Oberoi Realty, Indiabulls Real Estate: Maharashtra government to temporarily reduce stamp duty on flats from 5% to 2% till December 31. From Jan 1 till March 31, the stamp duty will be 3%. This is to boost the stagnant real estate market, which has been badly hit following the pandemic lockdown last March.
• ICICI Bank: Bank approved sale of 64.42 lakh equity shares (2% equity) in ICICI Securities via open market sale. Face value of each share is at Rs 5 per share. Bank’s stake in ICICI Securities stood at 79.22% as of June 30 and it selling its stake to comply with minimum public shareholding requirement as per SEBI guidelines.
• ITC, Godfrey Phillips, VST Industries: Government panel has recommended regulated FDI in tobacco sector and establishing export-only tobacco farms to boost outward shipments. (Press Trust of India)
• Mahindra & Mahindra signed pact with Israel’s REE Automotive for electric commercial vehicles. The partnership will support REE Automotive’s global customer need for 200,000-250,000 electric commercial vehicle units over a few years, including Mahindra’s potential domestic and international volumes.
• Infosys announced the launch of artificial intelligence driven solution to automate helpdesk operation. To partner with Blue Prism for this venture.
• Coal India has awarded Rs 2,900 crore contract to Belarus-based mining equipment manufacturer Belaz for supply of 96 dumpers of 240-tonnes capacity. The amount for the purchase of the dumpers would be met out of the company's own finances. Dumpers are primarily used in opencast mines and aid in the transport of bulk materials like over burden. Board has given nod to close the deal. (Press Trust of India)
• Jindal Stainless: Board approved raising Rs 162.8 crore via issue of convertible equity warrants to promoter group Virtuous Tradecorp and Kotak Group’s alternative investment fund.
• SRF to consider raising capital via qualified institutional placement and NCDs on Aug.31.
• Rossari Biotech: SBI Mutual Fund increased stake from 4.80% to 5.26% on Aug.25.
• Lakshmi Vilas Bank: Board approved raising Rs 1,000 crore viea issue of equity shares and Rs 500 crore via NCDs. Board also approved increase in authorized share capital from Rs 650 crore to Rs 1,000 crore.
• Punjab & Sind Bank: DHFL’s outstanding dues of Rs 815.4 crore has been declared as a fraud and reported to RBI. Bank has made a provision of Rs 203.9 crore as per prescribed norms.

Other Earnings

Indraprastha Gas Q1 (Standalone, QoQ)

• Revenue down 58.9% at Rs 638.5 crore (Est Rs 703 crore)
• Net profit down 87.5% at Rs 31.8 crore (Est Rs 69 crore)
• Ebidta down 77.8% at Rs 83.5 crore (Est Rs 132 crore)
• Margins at 13.1% versus 24.3% (Est 18.8%)

NACL Industries Q1 (Consolidated, YoY)

• Revenue up 31.9% at Rs 252 crore
• Net profit up 4 times at Rs 5.6 crore
• Ebidta up 2.8 times at Rs 18.2 crore
• Margins at 7.22% versus 3.4%

Earnings Today

• Avanti Feeds
• Himatsingka Seide
• ICRA
• IDFC
• NMDC
• PNC Infratech
• Edelweiss Financial Services
• GMR Infra

Pledged Share Details

• Sun Pharma promoters released pledge of 67.55 lakh shares from Aug.19-24
• Motherson Sumi International promoter Samvardhana International released pledge of 1.6 crore shares from Aug.20-21.
• Apollo Tyres promoters revoked pledge of 1.21 lakh shares on Aug.21

(As Reported On Aug.26)

Who’s Meeting Whom

• MCX to meet Wellington Management on Aug.27
• Rallis to meet Steinberg India Advisors, Tata MF and DSP from Aug.27-28
• Endurance Tech to meet JF Asset Management (Hong Kong) on Aug.28
• Eicher Motors to meet Temasek, Matthews Asia and Fidelity Group from Aug.27-28

Bulk Deals

• VA Tech Wabag: Sumitomo Corporation sold 24.57 lakh shares (4.49%) at Rs 210.49 per share.
• Ceat: Plutus Wealth Management acquired 7.35 lakh shares (1.82%) at Rs 900 per share and Jwalamukhi Investment sold 7.25 lakh shares (1.79%) at Rs 900 per share.
• Equitas Holdings: Societe Generale sold 22.19 lakh shares (0.65%) at Rs 55.36 per share.
• Atul Auto: Birla MF sold 3 lakh shares (1.37%) at Rs 197.26 per share.
• Ramco Systems: HDFC MF acquired 1.57 lakh shares (0.51%) at Rs 240 per share.

Trading Tweaks

• AGM Date: Sterlite Tech, Pfizer, Amber Enterprises, Greenply Industries, Sudarshan Chemical, Kokuyo Camlin, Ramco Systems, Nava Bharat Ventures, InterGlobe Aviation, Munjal Showa, Hindustan Zinc, Aurobindo Pharma, Cadila Healthcare, Cipla, Embassy Office Parks REIT, Expleo Solutions, GMM Pfaudler, Bosch, Orient Paper, Sun Pharma.
• Fund Raising: Zydus Wellness.
• Voluntary Delisting (Board Meeting): Allcargo Logistics.
• Ex-Date For Share Buyback: Triveni Engineering.
• Price Band Revised From 10% To 5%: Butterfly Gandhimathi Appliances, Eros International Media, Inspirisys Solutions, RSWM , SORIL Infra Resources, Swelect Energy Systems.
• Price Band Revised From 20% To 10%: California Software.
• Price Band Revised From 20% To 5%: Dhunseri Ventures, Nandan Denim, Royal Orchid Hotels.
• Move Into ASM Framework: Omax Autos, Kakatiya Cement Sugar & Industries, Vardhman Special Steels, Excel Realty & Infra.
• Move Into Short Term ASM Framework: Music Broadcast, Affle, NIIT, GSS Infotech, Gujarat Narmada Valley Fertilizers and Chemicals, Minda Industries, Somany Ceramics, Sadbhav Infrastructure Project, Kellton Tech Solutions.
• Move Out Of Short Term ASM Framework: Unichem Laboratories, V2 Retail, Sharda Motor Industries, Sanco Industries, Shriram City Union Finance, Hind Rectifiers, Jamna Auto Industries

Insider Trades

• Electrosteel Castings promoter Electrocast Sales acquired 14.5 lakh shares from Aug.21-24
• Jamna Auto promoter Map Auto acquired 37,000 shares on Aug.24
• India Cements promoter Prince Holdings acquired 4.93 lakh shares on Aug.24
• Mindtree promoters sold 7.2 lakh shares from Aug.20-24
• Xelpmoc Design and Tech promoter Srinivas Koora sold 1.18 lakh shares from Aug.21-24

(As Reported On Aug.26)

F&O Cues

• Nifty August futures closed at 11,554.5; premium of 5 points versus premium of 4 points
• Nifty August futures Open Interest down 28%, sheds 18 lakh shares in Open Interest
• Nifty Rollovers across all series at 65%
• Nifty Bank August futures closed at 23,441; premium of 27 points versus premium of 1 point
• Nifty Bank August futures Open Interest down 17%, sheds 1.8 lakh shares in Open Interest
• Nifty Bank Rollovers across all series at 54%
• Nifty Put Call Ratio at 1.54

Nifty Monthly Expiry: Aug 27

• Max Open Interest on call side at 11,600 strike (33.4 lakh shares)
• Max Open Interest on put side at 11,500 strike (39.9 lakh shares)
• Active options: 11,500 Put (24.5 lakh shares), 11,650 Call (3.6 lakh shares)