Stocks To Watch: IndusInd Bank, Mindtree, ICICI Prudential, Tata Steel

Asian markets have opened with modest gains while U.S. futures have dipped at the start of the new trading week. Markets in Japan and South Korea have edged higher while the Yen is steady ahead of the Bank of Japan policy meeting. Australian markets are little changed this morning. Markets in the U.S. ended higher on Friday.

Here are the stocks to watch in today’s trading session:

• Bank Of Baroda: Approves raising additional capital up to Rs 13,500 crore till March 2021 and beyond. Out of the Rs 13,500 crore, Rs 9,000 crore will be raised by various equity methods while the rest will be raised through additional Tier-I and Tier-II capital instruments.
• Apollo Tyres: Warbug Pincu converted 5.4 crore convertible preference shares into 3.15 crore shares through an encumbrance on April 22. The total shares amount to 31.65 percent stake. Post this acquisition, Warbug Pincus now holds 40.6 percent stake in the company. It earlier held 8.92 percent stake.
• Tata Steel: Board approves raising Rs 5,000 crore via debt.
• Natco Pharma: Gets Establishment Inspection Report (EIR) from the U.S. FDA for its formulation facility in Kothur.
• Shriram Transport Finance: The company in its business update has stated that it has focused on cost rationalisation and reduction of overheads to conserve its cash resources. It also has sufficient cashflow to meet repayment obligations. The release further states that it ha offered moratorium to its borrowers.
• Apollo Pipes: Starts billing for three plants in Uttar Pradesh, Gujarat and Karnataka. Manufacturing operations shall begin in a phased manner.
• JK Cement: Gets Government approval to commence operations at its manufacturing facilities in Rajasthan, Madhya Pradesh, Haryana and Gujarat.
• NHPC: Raises Rs 750 crore through private placement of bonds.
• Torrent Pharma: Issues NCDs worth Rs 195 crore on April 24.
• Oberoi Realty: CARE Ratings reaffirms ratings of facilities and instruments of the company and its subsidiaries. The outlook has been revised to negative from stable. It expects moderation in the credit risk profile of entities involved in the real estate development owing to the ongoing lockdown.
• Titan: Brickwork ratings assigns A1+ rating to the company's commercial paper issue of Rs 900 crore and reaffirm ratings for its bank loan facilities worth Rs 5,000 crore.
• Nalco: ICICI Prudential MF (Bharat 22 ETF) acquired 1.71 crore shares (0.92 percent) at Rs 34.43 per share.
• Sadbhav Engineering: Shashin Patel resigns as Chairman and Managing Director
• Zee Learn: Vikash Kumar Kar appointed as CEO after the resignation of Debshankar Mukhopadhyay
• CSB Bank: RBI extend the term of appointment of Madhavan Menon as part-time chairman of the bank till July 21, 2020.
• Reliance Power, Reliance Capital and Reliance Infrastructure: Axis Trustee Services, a security trustee of HDFC, invoked a pledge on 6.97 percent shares of Reliance Power, 6.43 percent shares of Reliance Capital and 8.21 percent shares of Reliance Infrastructure.
• Zee Media Corporation: IDBI Trusteeship, a security trustee of HDFC acquired 5.26 percent shares of the company pursuant to invocation of pledge.
• IIFL Finance: Exchanges permit listing and commencement of trading for 5.86 crore equity shares of Rs 2 each of IIFL Finance allotted to shareholder of IIFL pursuant to a composite scheme of arrangement. The equity shares are listed and permitted for trading on NSE and BSE from April 27, 2020.
• Non-Nifty Earnings Today: Adani Power, HDFC Life Insurance, Ambuja Cements, Sasken Technologies

Earnings Announced After Market Hours

ICICI Prudential Q4 and FY20

• Gross premium rises 5 percent to Rs 10,647 crore
• Net profit down 31 percent to Rs 179 crore
• VNB Margins rise to 21.7 percent in FY20 from 17 percent in FY19
• Increase in protection mix aids VNB margins
• Protection mix at 15.1 percent of APE in FY20 from 9.3 percent in FY19
• 13th month persistency at 83.2 percent in FY20
• Annualised premium equivalent down 5 percent to Rs 7,381 crore in FY20
• AUMs in FY20 at Rs 1,52,968 lakh crore
• Embedded Value grew 7 percent in FY20 to Rs 23,030 crore
• Maintains guidance to double FY19 VNB within four years
• Value of New Business (VNB) rose 21 percent in FY20 to Rs 1,605 crore
• All numbers are standalone and compared on a year-on-year basis

Mindtree Q4FY20

• Revenue in U.S. Dollar terms up 1.2 percent to $278.4 million
• Revenue in rupee terms up 4.3 percent to Rs 2,050.5 crore
• Net profit up 4.7 percent to Rs 206.2 crore
• Ebitda up 5.6 percent to Rs 323.6 crore
• Ebitda Margins at 15.8 percent from 15.6 percent
• Declares a dividend of Rs 10 per share
• All numbers are consolidated and compared on a sequential basis

Pledged Share Details

• JSW Steel: Promoter JSW Techno Projects Management revoked pledge of 5.73 lakh shares on April 21.
• JSW Energy: Promoter JSW Investments revoked pledge of 6.24 lakh shares on April 21.
• Emami: Promoters revoked pledge of 1.9 crore shares between April 21-22.
• Zuari Agro Chemicals: Promoter Zuari Global revoked pledge of 30 lakh shares on April 22.
• Adani Green Energy: Promoter Adani Trading Services revoked pledge of 2 lakh shares on April 23.

Trading Tweaks

• Price Band Revised To 5 Percent From 10 Percent: LGB Forge, NBCC, Spandana Sphoorty Financial
• Price Band Revised To 20 Percent From 10 Percent: Alembic
• Move Out Of ASM Framework: Tejas Networks, Sical Logistics, Pricol, Andhra Cements, HCL Infosystems, TRF, Sanwaria Consumer, Zuari Agro Chemicals, Walchandnagar Industries, Themis Medicare, Rane Engine Valve, Shakti Pumps, Hubtown, HT Media
• Move Into Short-Term ASM Framework: Hathway Cable & Datacom, La Opala RG, Neuland Laboratories
• Move Out Of Short-Term ASM Framework: Premier Explosives, Trident, Lumax Auto Technologies, Hexaware Technologies, HEG, SMS Lifesciences, Eris Lifesciences

F&O Cues

• Nifty April futures end at 9,138; a discount of 16 points as against a premium of 17 points
• Nifty April futures shed 3 percent in Open Interest and 3 lakh shares
• Nifty Bank April futures end at 19,517; discount narrows to 69 points from 88 points
• Nifty Bank April futures shed 4.3 percent in Open Interest and add 55,000 shares
• Nifty Put-Call Ratio at 1.34 Versus 1.51 across all series

Nifty: April 30 Expiry

• Maximum Open Interest on Call side at 9,500 strike (22.6 lakh shares)
• Maximum Open Interest on Put side at 9,000 strike (29.8 lakh shares)
• Open Interest addition seen in 9,000 Call (3.3 lakh shares) while 9,000 Put sees Open Interest shedding (-4.2 lakh shares)

Active Stock Futures And Fund Flows