Stocks To Watch: Lakshmi Vilas Bank, Laurus Labs, Siemens, TCS, Vakrangee

Indian equity markets ended near the lowest point of the day after profit booking at higher levels dragged them lower from fresh record highs. The S&P BSE Sensex ended 1.6% lower at 43,828 while the NSE Nifty 50 index fell nearly 300 points from its record high to end below the 13,000 mark. The 50-stock gauge fell 1.5% to close at 12,858.

Here are the stocks to watch in trade today:

• Government approved the merger of Lakshmi Vilas Bank with DBS Bank India , removed restrictions on withdrawal of deposits by depositors. The stock will be delisted from the bourses on Nov. 27 while trading in the shares will be suspended with effect from Nov. 26.
• Laurus Labs to acquire 72.55% stake in biotech company-Richcore Lifesciences for Rs 246.67 crore from from Eight Roads Ventures and VenturEast. This acquisition marks the company’s entry into the broader biologics and biotechnology segments, providing the company access to its high growth areas, globally and in India. The acquisition will be funded by internal accruals.
• Fine Organic Industries: New facility in Patalganga, Maharashtra has started its operations from Nov. 25.
• Future Consumer: Rajnikant Sabnavis has resigned as the CEO of the company, with effect from Nov. 27.
• Vakrangee: Board has withdrawn the scheme of amalgamation of its wholly owned arms Vakrangee Logistics and Vakrangee Finserve with the company, due to substantial changes in business environment in the last few months. Scheme is presently pending with NCLT.
• Astal Poly Technik: Board has approved entry into the business of manufacturing/trading of plastic water storage tanks and the addition of new capacity, with a total investment not exceeding Rs 75 crore. The company will also acquire assets from Shree Prabhu Petrochemicals for up to Rs 51 crore.
• Kesoram Industries: Consortium of lenders have given their in-principle approval to the resolution plan of the company formulated under the Reserve Bank of India’s guidelines.

Earnings

Siemens July-Sept. Quarter (Consolidated, YoY)

• Revenue down 8.93% at Rs 3,546.8 crore versus Rs 3,894.4 crore
• Net profit down 1.1% at Rs 330.2 crore versus Rs 333.9 crore
• Ebidta up 5.51% at Rs 456 crore versus Rs 432.2 crore
• Margins at 12.9% versus 11.1%
• Margins improve due to lower cost of material and other expenses

Pledge Share Details

• Max Financial Services promoter Max Ventures Investment Holdings created a pledge of 14 lakh shares from Nov. 20-24.

(As reported on Nov. 25)

Bulk Deals

• Tanla Platforms: Vantage Equity Fund acquired 6.85 lakh shares (0.50%) at Rs 524.3 per share, Massachusetts Institute Of Technology acquired 9.85 lakh shares (0.72%) at Rs 524.3 per share and Banyan Investments sold 16.7 lakh shares (1.23%) at Rs 524.3 per share.
• PVR: Gem Equity acquired 3.5 lakh shares (0.63%) at Rs 1,315.11 per share.
• Reliance Infra: Axis Trustee Services sold 45.48 lakh shares (1.74%) at Rs 22.5 per share.

Who’s Meeting Whom

• Meghmani Organics to meet Abakkus Asset Managers on Nov. 26
• Gati to meet Axis Capital, Equirus Securities and other investors on Nov. 26
• Indraprastha Gas to meet Sundaram MF on Nov. 27
• Bajaj Auto to meet Edelweiss and Nomura from Nov. 26-30
• Tata Consumer Products to meet Invesco, Carnegie Fonder and other investors from Nov. 26-27
• Bajaj Finance to meet UDIA, UBS and other investors from Nov. 26-30
• Can Fin Homes to meet Sundaram MF, Seven Canyons Advisors and other investors from Nov. 27-Dec. 16

Trading Tweaks

• Ex-Date For Buyback: TCS
• AGM: ITI.
• Price Band Revised From 20% To 10%: Alphageo, Equitas Holdings, Puravankara.
• Price Band Revised From 10% To 5%: ARSS Infrastructure Projects, Reliance Capital, SKIL Infrastructure.
• Move Into ASM Framework: Firstsource Solutions, DB Realty, Palred Technologies, Flexituff Ventures, Sundaram Brake Linings.
• Move Into Short Term ASM Framework: Equitas Holdings, Signet Industries, Future Lifestyle Fashions, Alphageo, Future Retail.
• Move Out Of Short Term ASM Framework: Somany Home Innovation, Investment Trust Of India, GP Petroleums, Indiabulls Real Estate.

Insider Trades

• HFCL promoter MN Ventures acquired 5 lakh shares on Nov. 25
• Confidence Petroleum promoter Essenn LPG Bottling acquired 71,000 shares on Nov. 19
• Greaves Cotton promoter D B H International acquired 11.54 lakh shares from Nov. 19-24.

(As reported on Nov. 25)

F&O Cues

• Nifty November futures closed at 12,857; discount of 1 point vs premium of 23 points
• Nifty November futures Open Interest down 42%, sheds 36.1 lakh shares in Open Interest
• Nifty Bank November futures closed at 29,185; discount of 11 points vs premium of 46 points
• Nifty Bank November futures Open Interest down 41%, sheds 5 lakh shares in Open Interest

Options

• Nifty PCR at 1.02

Nifty Monthly Expiry: Nov 26

• Max Open Interest on call side at 13,500 (49 lakh shares)
• Max Open Interest on put side at 12,800 (39.4 lakh shares)
• Active options: 12,900 Put (-12.5 lakh shares), 13,100 Call (+18 lakh shares)