Stocks To focus
• Tata Power: To sell 100% stake in Trust Energy Resources Pte to Tata Power International Pte, a wholly-owned subsidiary of the company, for $285.64 million. The transaction is expected to be completed by August 10.
• UltraTech Cement: Prepaid long-term loans amounting to Rs 5,000 crore in July. The loan repayments were made through free cash flows.
• Mahindra Lifespace Developers: Board to consider the proposal for issuance of bonus equity shares on July 28.
• Wipro: Launched FieldX, a cloud-based end-to-end digital service lifecycle automation solution built on ServiceNow’s Now Platform. Using FieldX, manufacturing organizations can enhance and scale-up their after-sales customer service operations while reducing costs, the company said.
• PSP Projects: Secured new work orders worth Rs 82.79 crore till date in the financial year 2021-22 for Institutional and Industrial projects.
• Tanla Platforms: Approved the proposal to buyback up to 5,15,873 shares of the company for an aggregate amount of Rs 65 crore at a price not exceeding Rs 1,260 per share.
• Hero MotoCorp: Launched an advanced, ‘connected’, and feature-rich new Maestro Edge 125.
• Spandana Sphoorty Financial: Allotted 12,500 secured NCDs of face value of Rs 1 lakh each on a private placement basis for aggregate amount of Rs 125 crore. The issue will mature in May 2023.
• Future Retail: Misses service of payment of interest on $ notes. Proposes to make interest payment within 30 days.
• Allcargo Logistics: To consider proposal for voluntary delisting on August 6.
• Magma Fincorp has been renamed as Poonawalla Fincorp. The company’s fully-owned housing finance subsidiary, Magma Housing Finance Limited, has also been renamed as Poonawalla Housing Finance. Under Poonawalla brand, the group said that it will focus on consumer and MSME segment. The company will also expand its product range to include personal loans, loans to professionals, merchant cash advance, loan against property, consumer finance and machinery loans along with existing products of business loan, pre-owned car loans and home loans.
• Earnings: Reliance Industries, Ambuja Cements, JSW Steel, SBI Cards and Payment Services, United Spirits, Tata Steel Bsl, Yes Bank, Crompton Greaves Consumer Electricals, Jubilant Pharmova, Federal Bank, ABB Power Products and Systems India, Symphony, Atul, Cigniti Technologies, Cybertech Systems and Software, Dynamatic Technologies, Fineotex Chemical, Nectar Lifesciences, Panacea Biotec, Seshasayee Paper & Boards, SKF India, Wendt (India)
• Tata Power: To sell 100% stake in Trust Energy Resources Pte to Tata Power International Pte, a wholly-owned subsidiary of the company, for $285.64 million. The transaction is expected to be completed by August 10.
• UltraTech Cement: Prepaid long-term loans amounting to Rs 5,000 crore in July. The loan repayments were made through free cash flows.
• Mahindra Lifespace Developers: Board to consider the proposal for issuance of bonus equity shares on July 28.
• Wipro: Launched FieldX, a cloud-based end-to-end digital service lifecycle automation solution built on ServiceNow’s Now Platform. Using FieldX, manufacturing organizations can enhance and scale-up their after-sales customer service operations while reducing costs, the company said.
• PSP Projects: Secured new work orders worth Rs 82.79 crore till date in the financial year 2021-22 for Institutional and Industrial projects.
• Tanla Platforms: Approved the proposal to buyback up to 5,15,873 shares of the company for an aggregate amount of Rs 65 crore at a price not exceeding Rs 1,260 per share.
• Hero MotoCorp: Launched an advanced, ‘connected’, and feature-rich new Maestro Edge 125.
• Spandana Sphoorty Financial: Allotted 12,500 secured NCDs of face value of Rs 1 lakh each on a private placement basis for aggregate amount of Rs 125 crore. The issue will mature in May 2023.
• Future Retail: Misses service of payment of interest on $ notes. Proposes to make interest payment within 30 days.
• Allcargo Logistics: To consider proposal for voluntary delisting on August 6.
• Magma Fincorp has been renamed as Poonawalla Fincorp. The company’s fully-owned housing finance subsidiary, Magma Housing Finance Limited, has also been renamed as Poonawalla Housing Finance. Under Poonawalla brand, the group said that it will focus on consumer and MSME segment. The company will also expand its product range to include personal loans, loans to professionals, merchant cash advance, loan against property, consumer finance and machinery loans along with existing products of business loan, pre-owned car loans and home loans.
• Earnings: Reliance Industries, Ambuja Cements, JSW Steel, SBI Cards and Payment Services, United Spirits, Tata Steel Bsl, Yes Bank, Crompton Greaves Consumer Electricals, Jubilant Pharmova, Federal Bank, ABB Power Products and Systems India, Symphony, Atul, Cigniti Technologies, Cybertech Systems and Software, Dynamatic Technologies, Fineotex Chemical, Nectar Lifesciences, Panacea Biotec, Seshasayee Paper & Boards, SKF India, Wendt (India)
11 Best Performing Auto Ancillary stocks of the month.
~Steel Strips Wheels +68%
~Precision Camshafts +56%
~Alicon Cast +41%
~Wheels +39%
~Sharda Motor +36%
~Hi-Tech Gears +29%
~GNA Axles +21%
~Sandhar Tech +21%
~Sundram Clayton +19%
~Rane Break +16%
~PPAP Auto +16%
~Steel Strips Wheels +68%
~Precision Camshafts +56%
~Alicon Cast +41%
~Wheels +39%
~Sharda Motor +36%
~Hi-Tech Gears +29%
~GNA Axles +21%
~Sandhar Tech +21%
~Sundram Clayton +19%
~Rane Break +16%
~PPAP Auto +16%
Make sure to pay attention to Foreign Institutional Investors and Domestic Institutional Investors and their activity on Stock Market, Nifty and Bank Nifty
Stocks To Watch
• JSW Steel: To make strategic investment of Rs 750 crore in JSW Paints in 3-4 tranches between FY22-FY25. In the first tranche of the strategic investment, the company will acquire 1.62 crore shares of JSW Paints for Rs 299 crore. The company will hold 6.88% in JSW Paints on fully diluted basis by Q2.
• IndusInd Bank: Board approved raising up to Rs 30,000 crore capital. Bank will raise funds by issuing debt and equity securities through routes including QIP, American Depository Receipts, Global Depositor Receipts. Bank to seek shareholder approval in upcoming annual general meeting.
• Indian Bank: Declared Lanco Infratech and Basundhara Green Power as fraud accounts. The accounts have been reported to the RBI. Lanco Infratech’s account--which has an outstanding loan of Rs 577.47 crore--was reported for diversion of funds. Basundhara Green Power’s account—which has an outstanding loan of Rs 11.64 crore--was reported for defective title deed or imperfect mortgage.
• NTPC: The 2nd Unit of 800 MW capacity of Darlipali Super Thermal Power Project has completed trial operation and was included in the installed capacity of NTPC. With this, the total installed capacity of NTPC and NTPC group has become 53,450 MW and 66,875 MW respectively.
• Navkar Corporation: Board approved the setting up of Inland Container Depot and Private Freight Terminals near Mundra or Pipavav or Northern Maharashtra subject to receipt of requisite approvals and clearances. The cost of the project is estimated up to Rs 300 crore and it will be completed approximately within 36 months from date of commencement of development.
• Suzlon Energy: Approved allotment of 1.21 crore equity shares on conversion of 1,304 US$ denominated Convertible Bonds due 2032. The bonds were of face value of $320 each, which after capitalising interest at 2.75% per annum accrued on half yearly basis, aggregated to $423,017.
• United Spirits: Approved sale of all equity shares and compulsory convertible preferential shares held by the company in Hip Bar to Prasanna Natarajan, promoter of HipBar, for Rs 52 lakh. The sale is expected to be completed before October 31.
• Nectar Lifesciences: To sell non-core and unproductive assets. Proceeds from sales to be used for repayment of bank loans. The office building at Mumbai falls under the non-core assets. Land and building situated at Narbada Industries in Jammu, Empty Hard Gelatin Capsules Unit in Himachal Pradesh and land and building at Basauli in Punjab have been categorised as unproductive assets.
• Tata Steel BSL: Appointed Pratik Chatterjee as the Chief Financial Officer effective July 23.
• BEML: Approved a plan under which it will transfer parcels of land and buildings to BEML Land Assets. The plan involves demerger of non-core assets from BEML and vesting them in BEML Land Assets. It will also involve reduction and cancellation of share capital of BEML Land Assets. The arrangement is subject to requisite statutory and regulatory approvals and sanction by the respective shareholders.
• Engineers India: Has designated Vartika Shukla, Director (Technical) holding additional charge of Director (Finance), EIL as Chief Financial Officer of the company.
• Earnings: Larsen & Toubro, Axis Bank, Tata Motors, Kotak Mahindra Bank, SBI Life Insurance Company, Vedanta, Alembic Pharmaceuticals, Apollo Pipes, Coromandel International, DLF, Mahindra & Mahindra Financial Services, Glaxosmithkline Pharmaceuticals, Jindal Stainless, Sun Pharma Advanced Research Company, Garden Reach Shipbuilders & Engineers, JTL Infra, Kirloskar Ferrous Industries, Kabra Extrusiontechnik, KPIT Technologies, Navin Fluorine International, Phillips Carbon Black, Orient Bell, Rane Brake Lining, Ramkrishna Forgings, Tata Motors Ltd – DVR, Udaipur Cement Works, Vakrangee, Visaka Industries, VLS Finance, Zensar Technologies
• JSW Steel: To make strategic investment of Rs 750 crore in JSW Paints in 3-4 tranches between FY22-FY25. In the first tranche of the strategic investment, the company will acquire 1.62 crore shares of JSW Paints for Rs 299 crore. The company will hold 6.88% in JSW Paints on fully diluted basis by Q2.
• IndusInd Bank: Board approved raising up to Rs 30,000 crore capital. Bank will raise funds by issuing debt and equity securities through routes including QIP, American Depository Receipts, Global Depositor Receipts. Bank to seek shareholder approval in upcoming annual general meeting.
• Indian Bank: Declared Lanco Infratech and Basundhara Green Power as fraud accounts. The accounts have been reported to the RBI. Lanco Infratech’s account--which has an outstanding loan of Rs 577.47 crore--was reported for diversion of funds. Basundhara Green Power’s account—which has an outstanding loan of Rs 11.64 crore--was reported for defective title deed or imperfect mortgage.
• NTPC: The 2nd Unit of 800 MW capacity of Darlipali Super Thermal Power Project has completed trial operation and was included in the installed capacity of NTPC. With this, the total installed capacity of NTPC and NTPC group has become 53,450 MW and 66,875 MW respectively.
• Navkar Corporation: Board approved the setting up of Inland Container Depot and Private Freight Terminals near Mundra or Pipavav or Northern Maharashtra subject to receipt of requisite approvals and clearances. The cost of the project is estimated up to Rs 300 crore and it will be completed approximately within 36 months from date of commencement of development.
• Suzlon Energy: Approved allotment of 1.21 crore equity shares on conversion of 1,304 US$ denominated Convertible Bonds due 2032. The bonds were of face value of $320 each, which after capitalising interest at 2.75% per annum accrued on half yearly basis, aggregated to $423,017.
• United Spirits: Approved sale of all equity shares and compulsory convertible preferential shares held by the company in Hip Bar to Prasanna Natarajan, promoter of HipBar, for Rs 52 lakh. The sale is expected to be completed before October 31.
• Nectar Lifesciences: To sell non-core and unproductive assets. Proceeds from sales to be used for repayment of bank loans. The office building at Mumbai falls under the non-core assets. Land and building situated at Narbada Industries in Jammu, Empty Hard Gelatin Capsules Unit in Himachal Pradesh and land and building at Basauli in Punjab have been categorised as unproductive assets.
• Tata Steel BSL: Appointed Pratik Chatterjee as the Chief Financial Officer effective July 23.
• BEML: Approved a plan under which it will transfer parcels of land and buildings to BEML Land Assets. The plan involves demerger of non-core assets from BEML and vesting them in BEML Land Assets. It will also involve reduction and cancellation of share capital of BEML Land Assets. The arrangement is subject to requisite statutory and regulatory approvals and sanction by the respective shareholders.
• Engineers India: Has designated Vartika Shukla, Director (Technical) holding additional charge of Director (Finance), EIL as Chief Financial Officer of the company.
• Earnings: Larsen & Toubro, Axis Bank, Tata Motors, Kotak Mahindra Bank, SBI Life Insurance Company, Vedanta, Alembic Pharmaceuticals, Apollo Pipes, Coromandel International, DLF, Mahindra & Mahindra Financial Services, Glaxosmithkline Pharmaceuticals, Jindal Stainless, Sun Pharma Advanced Research Company, Garden Reach Shipbuilders & Engineers, JTL Infra, Kirloskar Ferrous Industries, Kabra Extrusiontechnik, KPIT Technologies, Navin Fluorine International, Phillips Carbon Black, Orient Bell, Rane Brake Lining, Ramkrishna Forgings, Tata Motors Ltd – DVR, Udaipur Cement Works, Vakrangee, Visaka Industries, VLS Finance, Zensar Technologies
F&O BAN
New in Ban:
1⃣ IDEA
Still in Ban:
2⃣ CADILAHC
3⃣ CANBK
4⃣ NATIONALUM
5⃣ SUNTV
Out of Ban:
▶️ IBULHSGFIN
New in Ban:
1⃣ IDEA
Still in Ban:
2⃣ CADILAHC
3⃣ CANBK
4⃣ NATIONALUM
5⃣ SUNTV
Out of Ban:
▶️ IBULHSGFIN
Stocks To Focus
• Vedanta: Board has approved the expansion of Balco aluminium smelter in Chhattisgarh by 414 KTPA a year at a cost of Rs 6,611 crore. The company will also set up a new carbon facility at Jharsuguda for about Rs 635 crore. Further the company approved sale of shares held in its wholly-owned subsidiaries Sterlite Ports and Paradip Multi Cargo Berth to Sesa Resources in a move to consolidate activities of certain units. Following the share sale, seen completing by July 31, the two units would become the step-down subsidiaries of Vedanta. Company to receive Rs 16.23 crore from Sterlite Ports sale, and Re 1 from Paradip Multi Cargo Berth disposal. The company’s board also gave nod to acquire 26% equity of Facor Power and merging it into Ferro Alloys Corporation. The deal is expected to be completed by August 7.
• Housing and Urban Development Corporation: Government to sell up to 8% of the company's equity through an Offer for Sale. The initial plan is for the sale of 11.01 crore shares or 5.5% of the total equity with a green shoe option to sell another 5 crore shares or 2.5% of the total equity. The floor price of Rs 45 per equity share is at a discount of 5.26% to Monday's closing price. The OFS opens for non-retail Investors today and for retail investors tomorrow. 5% of the offer size to be reserved for eligible employees of the company.
• Bajaj Auto: Pierer Industrie and PTW Holding reach agreement in principle with Bajaj Auto and its wholly-owned subsidiary Bajaj Auto International Holdings BV to contribute BAIHBV’s 46.5% stake in KTM to Pierer Mobility. Pierer Mobility to carry out a capital increase through contribution in kind from the existing authorized capital of the company under exclusion of subscription rights by up to 50% of the existing share capital. After completion of the transaction, the shareholding of Pierer Mobility in the operating KTM will increase from currently about 51.7% to about 98.2%. Pierer Group will continue to maintain sole control over Pierer Mobility.
• IRB Infrastructure Developers: IRB Infrastructure Trust – Private InvIT has raised Rs 381.63 crore via Rights Issue. The company being the sponsor and 51% unitholder of the Private InvIT, invested Rs 194.63 crore and GIC Affiliates holding 49% units have invested Rs 187 crore. The company will continue to hold 51% units and GIC affiliates will continue to hold 49% units in the IRB Infrastructure Trust.
• Biocon: U.S.-based Adagio Therapeutics Inc. has granted an exclusive license to Biocon Biologics, a subsidiary of Biocon, to manufacture and sell an anti-body treatment for Covid based on ADG20 for India and some emerging markets. Initial data indicate that ADG20 could provide both rapid and durable protection against Covid-19 for up to one year, the company said.
• GlaxoSmithKline Pharmaceuticals: The company approved transfer of the trademarks on Iodex and Ostocalcium brands in India along with legal, commercial and marketing rights to GlaxoSmithKline Asia with values aggregating to Rs 1,649.01 crore. Glaxo Group had transferred the legal title and some rights on Iodex and Ostocalcium brands in India to the company. GSK Pharma also approved acquisition of assets and liabilities associated with the vaccines business of GSK Asia for Rs 1.66 crore.
• Jindal Stainless: Board has approved a brownfield expansion plan for JSL in Jajpur. The expansion will cost company Rs 2,150 crore. The company will expand steel melting capacity from existing 1.10 million tonnes per annum to 2.10 MTPA – at an estimated capex of Rs 530 crore. The proposed capacity will be added by Q3FY23. Further the company will enhance Hot Rolled Annealed Pickled and Cold Rolled Annealed Pickled capacities from 0.8 MTPA and 0.45 MTPA to 1.25 MTPA and 0.75 MTPA respectively at an estimated capex of Rs 1,250 crore. Proposed expansion to be completed by Q4FY23.
• Vedanta: Board has approved the expansion of Balco aluminium smelter in Chhattisgarh by 414 KTPA a year at a cost of Rs 6,611 crore. The company will also set up a new carbon facility at Jharsuguda for about Rs 635 crore. Further the company approved sale of shares held in its wholly-owned subsidiaries Sterlite Ports and Paradip Multi Cargo Berth to Sesa Resources in a move to consolidate activities of certain units. Following the share sale, seen completing by July 31, the two units would become the step-down subsidiaries of Vedanta. Company to receive Rs 16.23 crore from Sterlite Ports sale, and Re 1 from Paradip Multi Cargo Berth disposal. The company’s board also gave nod to acquire 26% equity of Facor Power and merging it into Ferro Alloys Corporation. The deal is expected to be completed by August 7.
• Housing and Urban Development Corporation: Government to sell up to 8% of the company's equity through an Offer for Sale. The initial plan is for the sale of 11.01 crore shares or 5.5% of the total equity with a green shoe option to sell another 5 crore shares or 2.5% of the total equity. The floor price of Rs 45 per equity share is at a discount of 5.26% to Monday's closing price. The OFS opens for non-retail Investors today and for retail investors tomorrow. 5% of the offer size to be reserved for eligible employees of the company.
• Bajaj Auto: Pierer Industrie and PTW Holding reach agreement in principle with Bajaj Auto and its wholly-owned subsidiary Bajaj Auto International Holdings BV to contribute BAIHBV’s 46.5% stake in KTM to Pierer Mobility. Pierer Mobility to carry out a capital increase through contribution in kind from the existing authorized capital of the company under exclusion of subscription rights by up to 50% of the existing share capital. After completion of the transaction, the shareholding of Pierer Mobility in the operating KTM will increase from currently about 51.7% to about 98.2%. Pierer Group will continue to maintain sole control over Pierer Mobility.
• IRB Infrastructure Developers: IRB Infrastructure Trust – Private InvIT has raised Rs 381.63 crore via Rights Issue. The company being the sponsor and 51% unitholder of the Private InvIT, invested Rs 194.63 crore and GIC Affiliates holding 49% units have invested Rs 187 crore. The company will continue to hold 51% units and GIC affiliates will continue to hold 49% units in the IRB Infrastructure Trust.
• Biocon: U.S.-based Adagio Therapeutics Inc. has granted an exclusive license to Biocon Biologics, a subsidiary of Biocon, to manufacture and sell an anti-body treatment for Covid based on ADG20 for India and some emerging markets. Initial data indicate that ADG20 could provide both rapid and durable protection against Covid-19 for up to one year, the company said.
• GlaxoSmithKline Pharmaceuticals: The company approved transfer of the trademarks on Iodex and Ostocalcium brands in India along with legal, commercial and marketing rights to GlaxoSmithKline Asia with values aggregating to Rs 1,649.01 crore. Glaxo Group had transferred the legal title and some rights on Iodex and Ostocalcium brands in India to the company. GSK Pharma also approved acquisition of assets and liabilities associated with the vaccines business of GSK Asia for Rs 1.66 crore.
• Jindal Stainless: Board has approved a brownfield expansion plan for JSL in Jajpur. The expansion will cost company Rs 2,150 crore. The company will expand steel melting capacity from existing 1.10 million tonnes per annum to 2.10 MTPA – at an estimated capex of Rs 530 crore. The proposed capacity will be added by Q3FY23. Further the company will enhance Hot Rolled Annealed Pickled and Cold Rolled Annealed Pickled capacities from 0.8 MTPA and 0.45 MTPA to 1.25 MTPA and 0.75 MTPA respectively at an estimated capex of Rs 1,250 crore. Proposed expansion to be completed by Q4FY23.