Stocks To Watch: Hindustan Aeronautics, Infosys, Wipro, SAIL

Indian equities ended little changed in a day where benchmark indices fluctuated between gains and losses throughout the session. The S&P BSE Sensex ended 25 points lower at 49,492 while the NSE Nifty 50 index ended unchanged at 14,564.

Asian equities opened mixed with benchmarks in Japan outperforming. Treasury yields are showing signs of stabilising after the recent retreat.

Earnings Fineprint: Infosys Q3FY21 (Consolidated, QoQ)

• U.S. Dollar revenue up 6.2% at $3,516 million
• Revenue up 5.52% at Rs 25,927 crore Vs Rs 24,570 crore
• EBIDTA up 5.79% at Rs 6,589 crore Vs Rs 6,228 crore
• PAT up 7.26% at Rs 5,197 crore Vs Rs 4,845 crore
• Operating Margin at 25.4% Vs 25.3%
• Raised its FY21 revenue growth guidance to 4.5%-5% in constant currency vs 2-3% growth forecast earlier
• Raised its FY21 operating margin guidance to 24%-24.5% from 23-24% earlier
• Delivered its highest Q3 sequential growth of 5.3% in eight years in constant currency
• Overall digital revenue crossed more than half of total revenues
• Large deal TCV at all-time high of $7.13 billion
• Constant Currency growth of 6.6%

Earnings Fineprint: Wipro Q3FY21(Consolidated, QoQ)

• U.S. Dollar revenue at $2,071 million Vs $1,992.4 million
• Revenue up 3.68% at Rs 15,670 crore Vs Rs 15,114 crore
• IT Services Ebit up 17.12% at Rs 3,320.4 crore Vs Rs 2,831 crore
• Net Profit up 20.3% at Rs 2,966.7 crore Vs Rs 2,561 crore
• EBIT Margin at 21.65% Vs 19.2%
• Ebit margins at 22-quarter high
• Expects I.T. services revenue to increase 1.5%-3.5% from the previous quarter

Stocks To Watch

• SAIL: Government plans to pare stake in SAIL through an Offer for Sale. To sell up to 20.65 crore shares or 5% of total equity. Option to additionally sell up to 20.65 crore shares or another 5% as well. Floor price of Rs 64 per share is a 13.6% discount to Wednesday's closing price. OFS for non-retail investors opens on Thursday while that for retail investors opens on Friday.
• Hindustan Aeronautics: Central Government approves the procurement of 83 indigenously-developed light combat aircraft 'Tejas' for the Indian Air Force at a cost of Rs 48,000 crore.
• Kajaria Ceramics: A meeting of the Board of Directors is scheduled on January 21 to consider declaration of Interim Dividend, if any, for the financial year 2020-21.
• Advanced Enzyme Technologies: Completed the acquisition of controlling stake of 51% in SciTech Specialities by way of subscription to the issue of 4,92,630 equity shares of SSPL and purchase of 27,778 equity shares from few selling shareholders of SSPL, aggregating to 5,20,408 equity shares i.e. 51% of paid-up share capital. Accordingly, SSPL has now become a subsidiary of the company.
• Indian Bank: Has raised Tier-II capital fund through Private Placement of Basel-III compliant Tier-II Bonds aggregating to Rs 2,000 crore at a coupon of 6.18% per annum.
• Central Bank of India: Brickwork Ratings has reaffirmed its rating on Basel-Ill compliant Tier-II bonds as A+/Stable and the rating on Innovative Perpetual Debt Instrument as A/Stable.
• Power Grid Corporation of India: Has signed the Termination Agreement amongst Reliance Infrastructure and Parbati Koldam Transmission Company terminating the Shareholders' Agreement, which was executed between Power Grid, Reliance lnfra and PKTCL to form a JVC named PKTCL. Reliance lnfra had proposed to sell its entire shareholding i.e. 74% in PKTCL to a third party. Further a Deed of Adherence dated January 8, 2021 was also signed by India Grid Trust confirming that they shall observe, perform and be bound by all the terms of the SHA.
• NHPC: Has signed Definitive Agreement for implementation of the approved resolution plan submitted by the company for takeover of Jalpower Corporation, who was implementing a 120 MW Rangit Stage-IV HE Project in Sikkim. National Company Law Tribunal, Hyderabad bench had approved the NHPC's resolution plan for taking over JPCL. NHPC will make upfront payment of Rs 165 crore for the resolution plan of JPCL.

Earnings Post Market Hours

GTPL Hathway Q3FY21 (Consolidated YoY)

• Revenue down 5% at Rs 647.1 crore Vs Rs 681.7 crore
• Net Profit up 37% at Rs 45.2 crore Vs Rs 33 crore
• Ebitda up 16% at Rs 141.1 crore Vs Rs 121.6 crore
• Ebitda margin 21.8% vs 17.8%
• Cable TV Business Revenue up 16% at Rs 466.7 crore Vs Rs 401.8 crore
• Internet Service Revenue up 84% at Rs 77.8 crore Vs Rs 42.2 crore
• EPC Project Revenue down 57% at 102.5 crore Vs Rs 237.6 crore
• Gross Debt reduced to Rs 159.5 crore from Rs 244.3 crore last year
• Subscription revenue up 5% at 271.8 crore

5Paisa Capital Q3FY21 (Consolidated, YoY)

• Revenue up 86% at Rs 45.56 crore Vs 26.67 crore
• Ebitda at Rs 9.56 crore Vs Rs 1.07 crore
• Ebitda Margins at 19.3% Vs 4%
• Net profit of Rs 3.2 crore from net loss of Rs 2.1 crore
• On-boarded more than 1.9 lakh new clients during the quarter
• Total number of registered customers now at 11.45 lakh.

Pledge Share Details

• JSW Steel: Promoter Sahyog Holdings revoked pledge of 18 lakh shares on January 8. Promoter Glebe Trading created a pledge of 3.50 lakh shares on January 12.
• JSW Energy: Promoter Glebe Trading created a pledge of 20 lakh shares on January 12.
• Adani Enterprises: Promoters Gautam Adani and Rajesh Adani revoked pledge of 3 lakh shares on January 12.
• Adani Ports & SEZ: Promoters Gautam Adani and Rajesh Adani revoked pledge of 4 lakh shares on January 12.
• Emami: Promoters Suntrack Commerce and Bhanu Vyapaar revoked pledge of 39.77 lakh shares on January 12.

As Reported On January 13.

Bulk Deals

• Adani Green Energy: Promoter Adani Trading Services LLP sold 2 crore shares (1.28%) at Rs 915.71 per share. ACME Trade and Investment bought 2 crore shares (1.28%) at Rs 915.71 per share.
• IIFL Wealth Management: Emsaf Mauritius bought 4.50 lakh shares (0.52%) at Rs 1,050 per share. Amansa Holdings sold 9.97 lakh shares (1.14%) at Rs 1,050 per share.
• Religare Enterprises: Investment Opportunities V Pte bought 1.76 crore shares (6.81%) at Rs 66 per share. Resilient India Growth sold 1.76 crore shares (6.81%) at Rs 66 per share.
• Jammu & Kashmir Bank: Chetan Shah bought 39.05 lakh shares (0.55%) at Rs 30.55 per share and sold 36.84 lakh shares (0.52%) at Rs 30.49 per share.

Trading Tweaks

• Price Band Revised From 10% To 5%: The Jammu & Kashmir Bank, RattanIndia Power
• Ex-date Interim Dividend: Tata Consultancy Services
• Record Date Interim Dividend: Cochin Shipyard
• Ex-date Buyback: Indian Toners & Developers
• Ex-date Rights Issue: Urja Global
• Ex-date Stock Split (From Rs 10 to Rs 1): SVP Global Ventures
• Ex-date Income Distribution: India Infrastructure Trust
• Move Into ASM Framework: Larsen & Toubro Infotech, Acrysil
• Move Into Short-term ASM Framework: Centrum Capital
• Move Out Of Short-term ASM Framework: Ganesha Ecosphere, Elecon Engineering, 3i Infotech

F&O Cues

• Nifty January futures end at 14,591; premium of 27 points
• Nifty January futures shed 4.8% and 6.7 lakh shares in Open Interest
• Nifty Bank January futures end at 32,649; premium of 75 points
• Nifty Bank January futures shed 12.3% and 1.9 lakh shares in Open Interest
• Nifty Put-Call Ratio at 1.72
• Enters F&O Ban: BHEL
• Stocks in F&O Ban: BHEL, SAIL

Nifty: January 14 Expiry

• Maximum Open Interest on Call side at 14,800 strike (36.2 lakh shares)
• Maximum Open Interest on Put side at 14,500 strike (38.6 lakh shares)
• Active Options: 14,600 Call (+16.3 lakh shares) and 14,500 Put (+13.7 lakh shares)

Nifty: January 28 Expiry

• Maximum Open Interest on Call side at 15,000 strike (23.1 lakh shares)
• Maximum Open Interest on Put side at 14,000 strike (30.4 lakh shares)