Stocks To Watch: Maruti, M&M, IRCTC, Federal-Mogul

Asian markets are declining in today's session after technology majors dragged indices lower on Wall Street overnight.

Benchmarks across the region are witnessing modest declines while futures on the Dow Jones are trading little changed.

Treasury yields ticked lower while oil prices continue to fluctuate.

Stock To Watch:

• IRCTC: Government intends to sell 20% stake in the company through an Offer for Sale. The initial sale will be of 15% stake or 2.4 crore shares with a greenshoe option of another 5% stake or 80 lakh shares. Floor price of Rs 1,367 per share is a 15% discount to Wednesday's closing price. The OFS for non-retail investors opens on December 10 while for retail investors it opens on December 11.
• Mahindra & Mahindra: The company has said that its automotive division will be affected by the global supply shortage of micro-processors (Semiconductors) used in Electronic Control Units, supplied by Bosch. The company anticipates a reduction in production and sales volume of itself and its subsidiary MVML in the fourth quarter of FY21. The estimation of likely reduction in production / sales is not ascertainable at this stage. Tractor operations and manufacturing of three-wheelers remains unaffected due to this shortage.
• TCS: Share buyback opens on December 18 and will close on January 1, 2021. The company on October had announced plans to buyback shares worth Rs 16,000 crore at Rs 3,000 per share. The proposal was given approval by the company's shareholders in November.
• Maruti Suzuki India: To increase prices across models in January 2021. The company said that it has become imperative to pass on some of the impact of the rise in cost of the company's vehicles which was adversely impacted due to rise in various input costs.
• ICICI Securities: OFS for non-retail investors gets demand of 4.4 times the shares of offer. Bids were received at an indicative price of Rs 459.34 per share, as per Bloomberg. OFS for retail investors opens today.
• Federal-Mogul Goetze: The company's promoter plans to sell 1.15 crore shares or nearly 21% of the total equity through the OFS. The floor price of 335 rupees per share is a 4% discount to Wednesday's closing price. This OFS too opens for non-retail investors on December 10 and for retail investors on December 11. The promoter needs to bring down his stake to 75% by January 2021. As per the latest shareholding pattern, the promoter holds 96.8% stake in the company.
• REC & PFC: Brokerage house Emkay expects both companies to react negatively to the new NBFC dividend rules, says as per new norms, both NBFCs will be eligible for a ~25% dividend payout, whereas both the entities have a historic dividend payout of ~45%.
• Varroc Engineering: VarrocCorp Holding B.V., a wholly-owned subsidiary of the company, has acquired the remaining 30% stake or 60,000 equity shares of Varroc-Elba Electronics held by the other JV Partner, Elba SA, Romania for an aggregate consideration of €1.05 million. After the acquisition, Varroc Elba has become a ‘wholly-owned subsidiary’ of VarrocCorp Holding and in turn a ‘step-down subsidiary’ of the company.
• Glenmark Pharmaceuticals: Has redeemed $18,25,00,000 in aggregate principal amount of its 2021 Notes, representing approximately 91.25% of the aggregate principal amount of the 2021 Notes at the time of initial listing. As on the date of this announcement, $1,75,00,000 in aggregate principal amount of the 2021 Notes remain outstanding
• Paisalo Digital: Antara India Evergreen Fund has acquired 5.08 lakh shares of the company on December 7. The total shareholding of the fund stands at 15.04 lakh shares i.e. 5.91%.

Pledge Share Details

• Chambal Fertilisers & Chemicals: Promoter Zuari Global created a pledge of 20 lakh shares on December 7.
• JSW Steel: Promoters JSW Techno Projects Management, JTPM Metal Traders, Sahyog Holdings, Vividh Finvest and Danta Enterprises revoked pledge of 1.28 crore shares between December 3-7.
• Adani Enterprises: Promoter Adani Tradeline revoked pledge of 27.83 lakh shares on December 7.
• Sun Pharma Advanced Research Company: Promoter Raksha Valia created a pledge of 13.40 lakh shares on December 8.
• Adani Ports & SEZ: Promoter Adani Tradeline revoked pledge of 8.82 lakh shares on December 7.
• JSW Energy: Promoter Glebe Trading revoked pledge of 44.24 lakh shares on December 8.
• Adani Transmission: Promoters Gautam Adani and Rajesh Adani revoked pledge of 1.84 crore shares on December 8.

As Reported On December 9

Who’s Meeting Whom

• GATI: To meet Edelweiss Broking on December 10.
• Syngene International: To meet Capital Research Global Investors and Novo Holdings on December 10.
• Polycab India: To meet Premji Invest on December 10 and Convergent Finance LLP on December 11.
• UPL: To meet Truist Financial Corporation, DWS Group and Jarislowsky Fraser and Co on December 10.
• Eicher Motors: To meet Temasek on December 10 and SBI Life Insurance on December 11.
• Cummins India: To meet Tata AMC on December 10.

Trading Tweaks

• AGM: Rushil Décor, DCM Financial Services, Advani Hotels & Resorts (India), Paras Petrofils
• Price Band Revised From 10% to 5%: Industrial Investment Trust, Indo Rama Synthetics India, Reliance Communications, Reliance Home Finance, Sintex Plastics Technology,
• Price Band Revised From 20% to 10%: Birla Tyres, Welspun Investments and Commercials.
• Move In To ASM Framework: Sequent Scientific, Reliance Home Finance, Pennar Industries, Arshiya, Birla Tyres.
• Move In To Short-term ASM Framework: Trident, Reliance Communications, Reliance Infrastructure, Goodyear India, Omaxe, Patel Engineering.
• Move Out Of Short-term ASM: Action Construction Equipment.
• Ex Buyback: Wipro, Garware Technical Fibres.
  

Insider Trades

• Axis Bank: Promoter Administrator of the Specified Undertaking of The Unit Trust of India sold 91.96 lakh shares between December 7-9.
• Astra Microwave Products: Promoter C. Prameelamma sold 70,000 shares on December 7.
• Texmaco Infrastructure & Holdings: Promoter Adventz Finance acquired 1.38 lakh shares on December 7.
• Sequent Scientific: Promoter Chayadeep Ventures sold 7.44 lakh shares between December 7-8.

As Reported On December 9

F&O Cues

• Nifty December futures end at 13,576; premium of 47 points
• Nifty December futures add 1.6% and 1.94 lakh shares in Open Interest
• Nifty Bank December futures end at 30,769; premium of 60 points
• Nifty Bank December futures add 3% and 50,800 shares in Open Interest
• Nifty Put-Call Ratio at 1.92
• Out of F&O Ban: Canara Bank
• Enters F&O Ban: Punjab National Bank

Nifty: December 10 Expiry

• Maximum Open Interest on Call side at 13,700 strike (34.9 lakh shares)
• Maximum Open Interest on Put side at 13,500 strike (34.4 lakh shares)
• Active Options: 13,400 Call (-13.6 lakh shares) and 13,500 Put (+30.3 lakh shares)

Nifty: December 31 Expiry

• Maximum Open Interest on Call side at 13,000 strike (25.1 lakh shares)
• Maximum Open Interest on Put side at 13,000 strike (38.4 lakh shares)