Stocks To Watch: HDFC, HPCL, IGL, NMDC, Pidilite Industries, RBL Bank
The Brandenburg Gate casts shadows across Pariser Platz square during sunrise in Berlin, Germany. (Photographer: Krisztian Bocsi/Bloomberg)

Stocks To Watch: HDFC, HPCL, IGL, NMDC, Pidilite Industries, RBL Bank

Asian stocks were mixed as investors weighed the recent rally in risk assets alongside evidence of a U.S. economic recovery and lingering concern over further coronavirus outbreaks. The dollar steadied following gains. Japanese shares gave back a sliver of their surge of more than 4% on Tuesday and Korean equities slipped, while those in Australia edged higher.

Here are the stocks to watch in trade today:

  • HDFC AMC: Promoter Standard Life to sell 60 lakh shares (2.82%) at floor price set at Rs 2,362 per share. Offer open for non-retail investors on June 17 and for retail investors it is June 18. Floor price is at a discount of 7 percent to the closing prices on June 16. Oversubscription option is there for another 60 lakh shares.
  • HPCL’s chairman M.K. Surana stated in a conference call that Mumbai’s refinery revamp, Vizag expansion is progressing and both facilities are running at full capacity. Mumbai plant to be shut down in later part of fiscal 2021 for revamp work. He also that company continues to diversify crude imports and expects to see inventory gains during the first quarter of financial year 2021. Company sees 85-90% of normal gasoline and diesel sales by mid-July.
  • Indraprastha Gas: GAIL has nominated AK Jana as the new managing director of the company with effect from June 16.
  • SpiceJet’s chairman Ajay Singh said that company is flying 25% of flights with 60-70% load factor. Hopes to fly at 40% capacity by July. (Bloomberg News)
  • Sandur Manganese & Iron Ores: Nazim Sheikh resigned from post of Managing Director, due to health reasons.
  • HDFC to seek shareholder’s nod to raise funds issue of equity shares on June 19.
  • Banking Stocks: Supreme Court hearing on loan moratorium interest waiver on June 17.
  • India may impose anti-dumping duty on Chinese antibacterial drug Ciprofloxacin Hydrochloride with a view to guard domestic industry from cheap imports. Aarti Drugs had filed the application for imposition of anti-dumping duty on imports of the medicine from China. After conducting a probe, the commerce ministry's investigation arm, Directorate General of Trade Remedies, in its preliminary findings has recommended imposition of provisional anti-dumping duty on the product from China. The duty recommended is in the range of $ 0.94 per kg to $ 3.29 per kg. The directorate in a notification said that in its probe, it has concluded the product has been exported to India by Chinese firms at dumped prices and due to this the domestic industry has suffered material injury. (Press Trust of India)
  • Emami on Covid-19 impact: Operations are expected to normalize by the second quarter of fiscal 2021. There is a strong demand for healthcare and hygiene products. The company’s healthcare range has been witnessing a steady demand for its immunity boosting products. The discretionary and personal care products are also slowly witnessing a recovery in demand.
  • HCL Tech has commenced operations in Sri Lanka.
  • Wipro has partnered with DocMagic for digital mortgage solutions.
  • IRB Infra Developers: Board approved raising Rs 750 via NCDs on a private placement basis to Anahera Investment.
  • Ashok Leyland to consider raising Rs 200 crore via NCDs on June 19.
  • India Glycols: Rakesh Bhatia resigned from the post of CEO with effect from June 16.
  • Prestige Estates Projects to consider raising caital via NCDs on June 24.
  • Panacea Biotec: Board approved setting up of joint venture with US based Refana for development, manufacturing and distribution of the Covid-19 vaccine.
  • Navin Fluorine on Covid-19 impact: Currently, all the plants manufacturing products for life science and crop science sectors are running to optimum capacities, whereas those for industrial sectors continue to operate at sub-optimum levels. Company has built up enough inventory of key raw materials for smooth operations over the next quarter and is also working on developing domestic vendors for some of the critical raw materials currently imported. Company is continuing with the capex announced in February.

Other Earnings

HPCL Q4 (Standalone, QoQ)

  • Revenue down 6.5% at Rs 66,154.9 crore (Est Rs 59,480 crore)
  • Net profit down 96.4% at Rs 26.8 crore (Est Net loss at Rs 261 crore)
  • Ebidta loss at Rs 706.7 crore versus Ebidta gain at Rs 1863.4 crore (Est Rs 392 crore)
  • Exceptional loss of Rs 1,002.9 crore in current quarter on write down of inventories
  • Writeback of provisions of earlier taxes at Rs 1,548.1 crore and Tax reversal of current taxes at Rs 1,030.3 crore impacted bottom line numbers
  • FY 20 GRM at $1.02/bbl versus $5.09/bbl
  • GRM at -$1.23/bbl versus $1.79/bbl
  • Forex loss at Rs 624.4 crore aided higher other expenses
  • Crude throughput down 9% at 4.54 MMT
  • Sales volume down 10% at 9.57 MMT
  • Declared dividend of Rs 9.75 per share

NMDC Q4 (Standalone, YoY)

  • Revenue down 12.5% at Rs 3,187.3 crore (Est Rs 3,385 crore)
  • Net profit down 75.8% at Rs 351.2 crore (Est Rs 1,371 crore)
  • Ebidta down 28.7% at Rs 1492 crore (Est Rs 1,787 crore)
  • Margins at 46.8% versus 57.4%
  • Rs 771.3 crore tax paid for earlier years which impacted net profit
  • Exceptional expense of Rs 96.4 crore in current quarter
  • Iron ore segment revenue down 12% at Rs 3,166.7 crore
  • Pellet segment revenue down 65% at Rs 20.6 crore
  • Covid-19 impacted loss in revenue stood at Rs 220 crore
  • Iron ore sales down 15% at 86.19 Lakh Ton
  • Average sales realization up 4% at Rs 3,674 per ton

Navin Fluorine International Q4 (Consolidated, YoY)

  • Revenue up 9.5% at Rs 276.6 crore (Est Rs 258 crore)
  • Net profit up 7.7 times at Rs 272.7 crore (Est Rs 39 crore)
  • Ebidta up 33.3% at Rs 68.8 crore (Est Rs 49.4 crore)
  • Margins at 24.9% versus 20.4%
  • Margins increase due to decline in raw material costs
  • MAT Credit reversal of Rs 88.2 crore and provisions for tax written off at Rs 141.3 crore impact profit numbers

Earnings Today

  • Pidilite Industries
  • Thirumalai Chemicals
  • Gulf Oil Lubricants
  • Cummins India
  • IGL
  • Natco Pharma
  • JK Cement
  • Muthoot Finance
  • Aban Offshore
  • RBL Bank
  • REC
  • Texmaco Rail
  • FDC
  • Fortis Healthcare
  • HEG
  • IndoStar Capital Finance
  • ITD Cementation India
  • Mangalam Cement
  • Mold-Tek Technologies
  • Rico Auto Industries
  • Rane Brake Lining
  • Sicagen India
  • Texmaco Infrastructure & Holdings
  • Wheels India
  • Clariant Chemicals
  • Triveni Engineering
  • Welspun Corp

Bulk Deals

  • 3M India: Ruane Cuniff & Goldfarb sold 1.22 lakh shares (1.08%) at Rs 17,100 per share. Buyers included HDFC Standard Life Insurance, Kotak Funds, L&T Mutual Fund, Max New York Life Insurance and Aurigin Master Fund
  • Hindustan Oil Exploration: Fidelity Funds sold 17.11 lakh shares (1.3%) at Rs 64 per share and Param Capital acquired 12.27 lakh shares (0.93%) at Rs 64 per share
  • Indian Terrain Fashions: Malabar India Fund sold 3.05 lakh shares (0.8%) at Rs 32.72 per share

Pledged Share Details

  • Adani Ports & SEZ promoter SB Adani Family Trust revoked pledge of 43 lakh shares on June 15

(As Reported On June 16)

Who’s Meeting Whom

  • Sundram Fasteners to meet UTI MF on June 17
  • CreditAccess Grameen to meet Birla Sunlife Insurance and Manning Napier on June 17
  • IIFL Finance to meet Silverdale Capital, Arakkan Capital and HDFC Life on June 17

Trading Tweaks

  • Price Band Revised From 10% To 5%: Adroit Infotech, Hindusthan National Glass, Madras Fertilizers, Vakrangee, Ramco Systems.
  • Price Band Revised From 20% To 10%: TV18 Broadcast.
  • Move Into ASM Framework: Tata Communications, Ruchi Soya, Flexituff Ventures, Bombay Rayon Fashions
  • Move Into Short-Term ASM Framework: Aurionpro Solutions, GPT Infraprojects, Vakrangee, Alembic, Onward Technologies.
  • Move Out Of Short-Term ASM Framework: Power Mech Projects, Raymond, CESC Ventures, GFL, Zensar Technologies, Indo Count Industries, UFO Moviez, Astra Microwave Products.

Insider Trading

  • Nesco promoter Patel Consultancy acquired 12,500 shares on June 15
  • Waterbase promoter KCT Management acquired 1.03 lakh shares on June 12
  • IndusInd Bank promoter IndusInd International Holdings acquired 5 lakh shares from June 12-15
  • Bajaj Auto promoter Deepa Bajaj acquired 25,000 shares from June 10-12
  • SBI Life Insurance promoter SBI sold 2.1 crore shares from June 12-15

(As Reported On June 16)

F&O Cues

  • Nifty June futures closed at 9,898, discount of 16 points versus discount of 0 pts
  • Nifty June futures open interest down 3.8%, sheds 3.7 lakh shares in open interest
  • Nifty Bank June futures closed at 20,254, discount of 42 points discount of 1 point
  • Nifty Bank June futures open interest down 8.9%, sheds 1.6 lakh shares in open interest
  • India VIX up 1.2% at 32.9
  • Nifty Put Call Ratio at 1.28 versus 1.34 across all series

Nifty Weekly Expiry: June 18

  • Max open interest on call side at 10,000 strike (28.1 lakh shares)
  • Max open interest on put side at 9,500 strike (24.7 lakh shares)
  • Active options: 9,900 Put (+5 lakh shares), 10,000 Call (+5.3 lakh shares)

Nifty Monthly Expiry: June 25

  • Max open interest on call side at 10,000 strike (23.4 lakh shares)
  • Max open interest on put side at 9,000 strike (36.8 lakh shares)

Nifty Monthly Expiry: June 25

  • Max open interest on call side at 10,000 strike (23.4 lakh shares)
  • Max open interest on put side at 9,000 strike (36.8 lakh shares)

Ban Details

  • Securities In Ban: Adani Ent, Idea, JSPL, Just Dial
  • New In Ban: JSPL
  • Out of Ban: BHEL
Stocks To Watch: HDFC, HPCL, IGL, NMDC, Pidilite Industries, RBL Bank
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