Stocks To Watch: HDFC, Indiabulls Housing Finance, NHPC, Vedanta

Asia stocks opened with modest declines as traders awaited data from China for the latest information on the strength of the recovery in the region’s largest economy. U.S. shares earlier slipped on low volumes. Shares in Tokyo and Australia edged lower, while S&P 500 e-mini futures were steady ahead of the first presidential election debate.

Here are the stocks to watch in trade today:

• Indiabulls Housing Finance has further sold a portion of its stake in OakNorth Holding to TEMF (a fund managed by Toscafund Asset Management) for approximately Rs 630 crore. With the latest stake sale, the company has raised a total of Rs 1,832 crores as fresh equity in the month of Sept. Company has launched a buyback of all its bonds maturing in next 12 months
• Sumitomo Chemical India: Promoter Sumitomo Chemical Company to sell up to 1.65 crore shares (3.3% stake) via offer for sale at a floor price of Rs 270 per share aggregating to Rs 445 crore. Floor price is at a discount of 9.2% to the closing price as on Sept.29. OFS for non-retail investors on Sept. 30, for retail investors on Oct.1. Promoter Sumitomo Chemical Company’s stake to come down from 78.3% to 75%. Offering done to comply with minimum public shareholding norms as per SEBI guidelines.
• RBI has appointed second additional director on Dhanlaxmi Bank's board.D K Kashyap, general manager at Reserve Bank of India has been appointed as additional director of the Bank till September, 2022. RBI had appointed G Jagan Mohan on the bank's board in Feb.
• Jet Airways: Statutory auditors DTS & Associates have resigned with immediate effect. Resolution was passed by member of committee of creditor. Sharp and Tannan Associated will be the new statutory auditors.
• PVR to consider raising funds via NCDs on Oct.5
• Government PSU Stocks: Anil Agarwal is seeking at least $5 billion for a fund targeting companies being sold off by the Indian government. Agarwal is targeting an initial close of $1 billion or more for the proposed India Direct Investment Fund. He is already scouting for targets and could spend nearly $10 billion on the first few acquisitions. (Bloomberg News)
• HDFC: NCLT Mumbai has sanctioned the scheme of amalgamation for merger of HDFC ERGO Health Insurance with and into HDFC ERGO.
• NHPC has signed memorandum of undertaking with Power Ministry detailing targets for the year 2020-21. Generation target has been set as 27,500 MUs as against last year target of 26,000 MUs. Targets for revenue from operations has been kept as Rs 8,900 crore, operating profit as a percentage of revenue from operations has been kept as 38%.
• Nirlon Board has appointed Rajindar Pal Singh as the chairman of the company with effect from Oct.1.
• Dixon Tech: ICRA has reaffirmed long term ratings ICRA A+, with outlook changing from stable to positive.
• Dish TV: Shareholders have approved reappointment of Jawahar Lal Goel as MD of the company till March 2022.
• CCI approved demerger of the textiles business of GHCL into its wholly owned arm GHCL Textiles.
• BASF India received revised tax notice from Karnataka government aggregating to Rs 85.77 crore from Rs 82.74 crore earlier. Company is taking legal steps. These tax notices were for the periods 2006-2007 to 2015-2016 by treating the stock transfers of the company’s Mangalore plant as interstate sales to dealers and its subsequent stay by the Karnataka Appellate Tribunal on recovery of demand.
• SEBI imposed a penalty of Rs 1 crore on Brickwork Rating. Penalty imposed for failure to exercise proper due diligence in timely recognition of default against non-convertible debentures issued by certain companies, including the Essel Group entities.
• Zee Learn: Promoter Asian Satellite Broadcast reduced stake from 13.69% to 10.84% from Sept.8 to 25.
• Zee Media: Promoter 25FPS Media reduced stake from 15.72% to 13.65% from June 6 to Sept.25.
• Welspun Corp has received multiple orders of approximately 147 KMT valuing close to Rs 1,400 crore. Order book stands at 755 KMT valued at approximately Rs 6,300 crore.
• Future Enterprises has defaulted in payment of NCDs interest worth Rs 16.11 crore which was due on Sept.27.
• Power Finance Corp: Government of India has set a revenue aim of Rs 36,000 crore for fiscal 2021.
• Oil India: Chairman Sushil Mishra stated that the company hopes to control Assam well blowout in 2 months. Loss estimated from Baghajan blowout estimated to be Rs 179 crore.
• Puravankara has allotted NCDs worth Rs 50 crore.
• Central Bank of India: Ex RBI regional director P. J. Thomas has been nominated by the central government as a director in the Bank.

IPO

• Mazagon Dock Shipbuilders: IPO subscribed 2.09 times on Day 1. Institutional subscription at 0.04 times, non-institutional investor subscription at 0.78 times and retail subscription at 5.65 times.
• Likhitha Infra: IPO subscribed 1.01 times on Day 1. Institutional subscription at 0.02 times, non-institutional investor subscription at 0.85 times and retail subscription at 2.49 times.
• UTI AMC: IPO subscribed 0.27 times on Day 1. Institutional subscription at 0 times, non-institutional investor subscription at 0.06 times and retail subscription at 0.51 times.

Pledged Share Details

• Ajanta Pharma promoter Aayush M Agrawal created pledge of 1.3 lakh shares on Sept.28
• Max India promoter Max Ventures Investment Holdings released pledge of 8.5 lakh shares on Sept.25

(As Reported On Sept.29)

Who’s Meeting Whom

• Shriram City Union Finance to meet Hara Global Capital Management and Ruane, Cunniff & Goldfarb Inc on Sept.30
• Metropolis Healthcare to meet Citigroup Global Markets on Oct.1

Bulk Deals (BSE Not Uploaded)

• GMM Pfaudler: Plutus Wealth Management acquired 1.65 lakh shares (1.13%) at Rs 3,528.75 per share.
• IRB Infrastructure: Promoter Virendra Dattatraya Mhaiskar acquired 19 lakh shares (0.54%) at Rs 114.45 per share.

Trading Tweaks

• Fundraising: SBI
• Record Date For Share Buyback: Rites.
• Record Date For Share Split: Laurus Labs (face value split from Rs 10 to Rs 2 per share).
• Ex-Date Bonus Issue: Aarti Drugs (bonus 3:1).
• Price Band Revision From 20% To 10%: TIPS Industries.
• Move Into ASM Framework: Indiabulls Ventures, Ind-Swift Laboratories.
• Move Into Short Term ASM Framework: Cigniti Technologies, Advanced Enzyme Technologies.
• Move Out Of Short Term ASM Framework: Aurionpro Solutions, Kopran, Ramkrishna Forgings, Manaksia Steels, Dish TV.

Insider Trades

• Welspun Corp promoter Balkrishan Goenka acquired 19 lakh shares from Sept.25 to 28.
• Axis Bank promoter National Insurance sold 35 lakh shares from Dec.2017 to Aug.2018.
• IRB Infrastructure promoter Virendra Dattatraya Mhaiskar acquired 25 lakh shares from Sept.25 to 29.

(As Reported On Sept.29)

F&O Cues

• Nifty October futures closed at 11,238; premium of 16 points vs premium of 15 points
• Nifty October futures Open Interest up 1%, adds 95,000 shares in Open Interest
• Nifty Bank October futures closed at 21488; premium of 77 points vs premium of 87 points
• Nifty Bank October futures Open Interest up 2%, adds 34,000 shares in Open Interest

Options

• Nifty PCR at 1.34

Nifty Monthly Expiry: Oct 1

• Max Open Interest on call side at 11,500 (40 lakh shares)
• Max Open Interest on put side at 11,000 (33.2 lakh shares)
• Active options: 11,200 Put (8.7 lakh shares), 11,400 Call (14lakh shares)

Nifty Monthly Expiry: Oct 29

• Max Open Interest on call side at 11,500 (18 lakh shares)
• Max Open Interest on put side at 10,500 (35 lakh shares)