Stocks To Watch: Jindal Stainless, Jindal Steel & Power, NLC India, UPL
A trader watches a monitor while working on the floor of the New Stock Exchange in New York, U.S. (Photographer: Jin Lee/Bloomberg News)

Stocks To Watch: Jindal Stainless, Jindal Steel & Power, NLC India, UPL

Indian equities ended with gains for the fifth straight day, despite cooling off from the day's high. The S&P BSE Sensex ended 0.55% higher at 47,613. The index ended 100 points lower from the day's high of 47,714. The NSE Nifty 50 index ended 68 points shy of the 14,000 mark, gaining 0.43% to close at 13,932. The 50-stock benchmark fell 35 points from the day's high of 13,967.

Here are the stocks to watch in trade today:

  • Jindal Stainless Limited: The Board of Directors of JSL and Jindal Stainless (Hisar) Limited (JSHL) have approved the merger of JSHL into JSL. As per the approved share swap ratio, 195 equity shares of JSL will be issued for every 100 equity shares of JSHL. With the appointed date of April 1, 2020, the merger process is expected to be completed in H2 FY22. Merged entity to have stainless steel melt production capacity of 1.9 Million Tonnes Per Annum. The merger of JSL and JSHL will also induce a simplified capital structure, expanding the turnover of the merged business to Rs 20,000 crore.
  • Jindal Steel & Power: Indian Railways has awarded Regular Supplier status to the company for 60 kg 880 grade (90UTS) Rails. With this, Indian Railways, its subsidiary and track laying contractors can source 60kg 880 grade (90UTS) Rails manufactured by JSPL and utilise them for their ongoing and upcoming projects.
  • NLC India: Has issued and allotted 10,000 Commercial Papers of face value of Rs 5 lakh each, aggregating to Rs 500 crore.
  • IFGL Refractories: ICRA has upgraded the long-term rating assigned for Rs 173 crore Line of Credit of the company to AA- from A+. The short-term rating for the LOC has been reaffirmed at A1+.
  • APL Apollo Tubes: CARE Ratings has revised the credit rating of long-term bank facilities of the company to AA-/Stable and has reaffirmed the credit rating of short-term bank facilities at A1+.
  • Gujarat State Fertilisers & Chemicals: India Ratings and Research has affirmed the rating of AA+ on long-term bank facilities and the rating of A1+ on short-term bank facilities of the company.
  • Sadbhav Engineering: A meeting of equity shareholders to be held on January 29, 2021 to consider and approve the Scheme of Amalgamation of Sadbhav Infrastructure Project with Sadbhav Engineering and their respective Shareholders and Creditors.
  • Torrent Pharmaceuticals: The company has redeemed and repaid secured NCDs of Rs 166.70 crore out of the total NCDs of Rs 500 crore on December 29.
  • UPL: Has completed the pre-payment of $410 million of 3.25% Senior Notes due October 2021. The pre-payment, which concluded on December 28, 2020, was done using the cash on its balance sheet. This prepayment is in line with its commitment to reduce debt.

Pledge Share Details

  • Adani Enterprises: Promoters (Gautam S. Adani and Rajesh S. Adani) revoked pledge of 20 lakh shares on December 28.
  • Adani Transmission: Promoters (Gautam S. Adani and Rajesh S. Adani) revoked pledge of 44.35 lakh shares on December 28.
  • Jindal Steel & Power: Promoter OPJ Trading created pledge of 25.61 lakh shares on December 22.
  • Emami: Promoter Diwakar Viniyog revoked pledge of 4.15 lakh shares on December 24.
  • Max Financial Services: Promoter Max Ventures Investment revoked pledge of 37,499 shares on December 24. As Reported On December 29.

Bulk Deals

  • AGC Networks: Ebony Advisors LLP bought 2.50 lakh shares (0.84%) at Rs 764.13 per share. Ncube Ventures LLP sold 2.50 lakh shares (0.84%) at Rs 764.13 per share.
  • Snowman Logistics: Adani Logistics sold 40.55 lakh shares (2.43%) at Rs 61.82 per share.
  • Acrysil: Everest Finance And Investment Company sold 2.48 lakh shares (0.93%) at Rs 186.60 per share.
  • CARE Ratings: FPA Global Opportunity Fund A Series Fund of FPA Hawkeye Fund LLC sold 9.97 lakh shares (3.39%) at Rs 521.08 per share. Phaeacian Accent International Value Fund bought 9.97 lakh shares (3.39%) at Rs 521.08 per share.

Who’s Meeting Whom

  • Tata Steel: To meet SBI Life Insurance on December 31.

Trading Tweaks

  • Price Band Revised From 10% To 5%: Borosil, Firstsource Solutions, Xelpmoc Design And Tech.
  • Price Band Revised From 20% To 10%: Fineotex Chemical, HBL Power Systems, Paisalo Digital.
  • Move In To Short-term ASM Framework: Paisalo Digital.
  • Move Out Of Short-term ASM Framework: Varroc Engineering, Borosil Renewables, Edelweiss Financial Services.
  • Move In To ASM Framework: Firstsource Solutions.

Insider Trades

  • Indus Towers: Promoter Nettle Infrastructure Investments acquired 17.46 lakh shares on December 28.
  • Satia Industries: Promoter Chirag Satia acquired 40,000 shares on December 28.
  • Elecon Engineering: Promoters (Prayas Engineering and Elecon Information) acquired 15.29 lakh shares in December 24. Promoter KB Investments sold 15.29 lakh shares on December 24.
  • Mangalam Cement: Promoter Rambara Trading acquired 1 lakh shares between December 28-29.
  • Kellton Tech Solutions: Promoter Kellton Wealth Management sold 10 lakh shares on December 24.
  • BMW Industries: Promoter Tricom Investments acquired 5.70 lakh shares on December 28.
  • Ultramarine & Pigments: Promoters (Sridhar Sundararajan and Jayalakshmi Venkataraman) sold 8,431 shares on December 28.
  • Ganesha Ecosphere: Promoter Seema Sharma acquired 7,383 shares between December 22-28.
  • Lincoln Pharmaceuticals: Promoters (Munjal Patel and Kailashben Patel) acquired 1 lakh shares between December 28-29. As Reported On December 29
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