Stocks To Watch: Hero MotoCorp, IndusInd Bank, Jubilant FoodWorks, Lakshmi Vilas Bank, Wipro
Stock price information is displayed on a screen. (Photographer: Dario Pignatelli/Bloomberg)

Stocks To Watch: Hero MotoCorp, IndusInd Bank, Jubilant FoodWorks, Lakshmi Vilas Bank, Wipro

Indian equity markets shrugged off three days of sideways movement to end near the highest point of the day. This, despite the absence of banking stocks contributing to the surge. The S&P BSE Sensex ended 0.87% higher at 46,666 while the NSE Nifty 50 index rose 0.85% to end at 13,682. Both benchmark indices registered new record highs.

Here are the stocks to watch in trade today:

  • Hero MotoCorp: To increase the prices of its products by up to Rs 1,500 with effect from January 1, 2021. The increase will vary across models. Steady rise in commodity costs including steel, aluminium cited as the reason behind price hikes.
  • Lakshmi Vilas Bank: The trading in the equity shares of the bank will be withdrawn (delisted) w.e.f. December 18, 2020 pursuant to gazette notification dated November 25, 2020 issued by Department of Financial Services, Ministry of Finance.
  • Aster DM Healthcare:The company through its subsidiary, Aster DM Healthcare FZC, has acquired a company in the Grand Cayman, Cayman Islands - Aster Caribbean Holdings.
  • Wipro: The company has completed the acquisition of 83.4% equity stake in Encore Theme. The remaining 16.6% equity stake will be acquired subject to and after receipt of certain regulatory approvals/confirmations.
  • Videocon Industries: The Committee of Creditors has approved the resolution plan submitted by Twin Star Technologies Limited and the plan has been filed with the National Company Law Tribunal, Mumbai.
  • IndusInd Bank: SEBI has granted extension of one month for subscription to the warrants i.e., until February 4, 2021 to complete the said conversion into equity. The bank had issued Convertible Warrants to promoters, Induslnd International Holdings Limited and its subsidiary IndusInd Limited on July 6, 2019 under the Composite Scheme of Arrangement for an aggregate amount of Rs 2,695.26 crore for 1. 57 crore share warrants. The promoters had paid a sum of Rs 673.82 crore towards Warrant Subscription Price, being 25% of the Warrant Price of Rs 1,709. An amount of Rs 2,021.44 crore was to fall due on January 5, 2021, for conversion of Warrants into equity shares. In view of the disruption caused by the Covid- 19 pandernic, the bank had, at the request of IIHL and IL, approached SEBI for extension in time for payment of balance amount.
  • IFCI: The Government of India has appointed Anindita Sinharay, Director, Department of Financial Services, Ministry of Finance as Director on the Board of Directors of IFCI.
  • Olectra Greentech: Evey Trans and Olectra Greentech have been declared as L-1 bidders for 353 electric buses from 5 state transport authorities and one state government undertaking including under FAME-II scheme of Government of India. Out of these tenders for 353 buses, tenders for 300 buses are on Gross Cost Contract/OPEX model basis for a period in the range of 10-12 years and tenders for 53 buses are on outright sale basis participated by the company alone. Value of these tenders is approximately Rs 600 crore.
  • Snowman Logistics: The Board of Directors to consider a proposal for raising of funds by way of qualified institutions placement at its meeting on December 21.
  • Jubilant FoodWorks: Has launched a new brand, Ekdum, which will offer twenty different biryanis curated from various parts of India. Ekdum will start with three restaurants in Gurgaon.
  • Computer Age Management Services: The company has been considered eligible for selection and further grant of registration as a Central Record Keeping Agency under the National Pension Scheme under the Pension Fund Regulatory and Development Authority Regulations, 2015. The selection is subject to certain fulfilment of certain conditions including the de-registration of the company as a Point of Presence.
  • IRCTC: The President of India, acting through Ministry of Railways, Government of India has proposed to offer up to 16 lakh shares of face value of Rs 10 each to the eligible employees of the company at a price of Rs 1377.55 per share. The Employee OFS will remain open from December 18 to December 21, 2020.
  • Navin Fluorine International: The Board of Directors has approved capital expenditure for setting up of a Multi-Purpose Plant with an outlay of Rs 195 crore. The capex will be undertaken by the company's wholly owned subsidiary, Navin Fluorine Advanced Sciences Limited at Dahej, Gujarat and will be funded through a mix of internal accruals and debt.
  • Bombay Rayon Fashions: As part of the restructuring process, the company is in the process of hiving off its Tarapur Yarn Dying and Fabric Process unit to its subsidiary company BRFL Textiles under a slump sale consideration. Post this transaction, a set of Private Equity investors will infuse capital into BRFL Textiles, which will be utilised for funding the working capital for ramp-up of operations. The company expects the new entity to generate revenues worth over Rs 2,000 crore annually

Pledge Share Details

  • Max Financial Services: Promoter Max Ventures Investment Holdings created a pledge of 2.16 lakh shares between December 3-15.
  • Welspun Specialty Solutions: Promoter Welspun Steel created a pledge of 1.21 crore shares on December 14.
  • Ajanta Pharma: Promoter (Aayush M Agrawal, trustee Aayush Agrawal Trust) revoked pledge of 3.20 lakh shares on December 15. As Reported On December 16

Who’s Meeting Whom

  • Gland Pharma: To meet Franklin Templeton Investments on December 17.
  • Welspun India: To meet Capital World Investors on December 17 and Kotak Mutual Fund on December 22.

Bulk Deals

  • CSB Bank: Nomura Singapore bought 14.96 lakh shares (0.86%) at Rs 214.5 per share. AKENA sold 14.96 lakh shares (0.86%) at Rs 214.5 per share.
  • JK Tyre & Industries: Edgefield Securities sold 14.65 lakh shares (0.60%) at Rs 77.76 per share.
  • Snowman Logistics: Adani Logistics sold 9.70 lakh shares (0.58%) at Rs 59.51 per share.
  • Majesco: Third Alpha LLP bought 2.35 lakh shares (0.79%) at Rs 977.81 per share.
  • LT Foods: Frigorifico Allana Private bought 16.50 lakh shares (0.52%) at Rs 59.95 per share.
  • Indiabulls Housing Finance: Kotak Securities bought 27.15 lakh shares (0.59%) at Rs 205.13 per share and sold 9.91 lakh shares (0.21%) at Rs 207.24 per share.
  • Take Solutions: Intelent Data Sciences sold 7.50 lakh shares (0.51%) at Rs 50.28 per share.

Trading Tweaks

  • AGM: Omaxe, The Hi-Tech Gears, Nalwa Sons Investments, Modern Thread, Madhav Marbles and Granites, Asian Hotels (North).
  • Ex Date Interim Dividend: Hindustan Aeronautics, Power Grid Corporation Of India.
  • Ex Date Dividend: East West Holdings, Aarnav Fashions.
  • Price Band Revised From 10% To 5%: Inox Wind, MSP Steel & Power, Suven Life Sciences.
  • Price Band Revised From 20% To 10%: Burger King India.
  • Move In To Short-term ASM Framework: Share India Securities, Cybertech Systems And Software, Filatex India.
  • Move Out Of Short-term ASM Framework: ADF Foods, Lemon Tree Hotels, Sterling And Wilson Solar, Tejas Networks, Chalet Hotels.

Insider Trades

  • BMW Industries: Promoter Tricom Investments acquired 3.53 lakh shares on December 15.
  • Mangalore Chemicals & Fertilizers: Promoter Akshay Poddar acquired 50,000 shares between December 14-15.
  • Chambal Fertilisers & Chemicals: Promoters (Jyotsna Poddar and Akshay Poddar) acquired 40,000 shares on December 14.
  • Godrej Agrovet: Promoter Godrej Industries acquired 46,696 shares between December 10-11.
  • Godrej Industries: Promoter Anamudi Real Estates acquired 1.03 lakh shares between December 10-11.
  • Great Eastern Shipping: Promoter Gopali Mulji sold 18,000 shares between December 14-15.
  • Federal-Mogul Goetze (India): Promoter IEH FMGI Holdings sold 40,262 shares between December 10-11.
  • Ganesha Ecosphere: Promoter Seema Sharma acquired 7,700 shares between December 2-14. As Reported On December 16.
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