Stocks To Focus
• Tata Motors: Plans to increase the share of electric vehicles from 2% of the portfolio to 25% in the medium to long term, said Chairman N Chandrasekaran at the AGM. The company plans to launch 10 EV models before 2025. Further, the supply issues emerging from the semiconductor crunch and pandemic will hit the company’s production volumes, sales, cash flow and margins in the near-term, said Chandrasekaran. Expect the situation to improve in the second half of the ongoing financial year. The company is also on path to wiping out its debt by FY24. In FY21 we were able to reduce debt by over Rs 7,500 crore, he added.
• Coforge: Approved raising up to Rs 375 crore via share issue. It has also approved issuance of depository receipts in one or more tranches.
• Torrent Power: Entered into a Securities Purchase Agreement for acquisition of 100% of the share capital and all securities of LREHL Renewables India SPV 1 from Lightsource India and Lightsource Renewable Energy. The acquisition will cost company approximately Rs 317 crore and is expected to be completed in 2 months.
• Vedanta: Commenced winding-off operations at oxygen plant in Thoothukudi on July 30 to allow enough time for the defrosting process before the date indicated by the Supreme Court. As per the apex court's order on April 27, Vedanta has completed the three-month duration granted by the court to operate the oxygen plant until July 31. The company’s application for extension of the facility for a period of 6 months, is listed to be heard by the Supreme Court on August 6. The company said it is optimistic of further orders from the Supreme Court on resuming production.
• Info Edge (India): Invested Rs 7 crore in 4B Networks, through its wholly owned subsidiary, to increase its shareholding in the company to 19.9% from 12.3%. The company has agreed to acquire additional 1,358 Compulsorily Convertible Preference Shares of 4B Networks.
• Den Networks: The company and its wholly owned subsidiary, Futuristic Media and Entertainment, have sold their entire holding of 1.57 crore equity shares in CCN DEN Network, representing 51% of the equity share capital, to Virender Gaur and Mayank Gaur (the remaining shareholders) for Rs 8.67 crore.
• Hero MotoCorp: Commenced retail sales in Mexico. The company has introduced an extensive portfolio of products, including motorcycles and a scooter, thereby catering to the diverse segments of customers. The product portfolio will be available across the country through the retail arm of the distributor, agencies, and dealers, and will have attractive financing options, the company said.
• Atul Auto: Received approval from RBI for acquisition of equity shares of Khushbu Auto Finance.
• ITC: Wimco has become a wholly owned subsidiary of the company with effect from July 29, consequent to reduction of equity share capital of that company becoming effective upon receipt of necessary approvals, the company said.
• Earnings: HDFC, Punjab National Bank, Emami, Castrol India, RBL Bank, Carborundum Universal, CG Power and Industrial Solutions, Orient Cement, Varun Beverages, Ajmera Realty & Infra India, Shree Renuka Sugars, Avadh Sugar & Energy, Balaji Amines, Capri Global Capital, JMC Projects (India), IFB Agro Industries, Kalyani Steels, Mangalore Chemicals & Fertilizers, Nahar Capital & Financial Services, Nahar Polyfilms, Nahar Spinning Mills, Asian Star Co
• Tata Motors: Plans to increase the share of electric vehicles from 2% of the portfolio to 25% in the medium to long term, said Chairman N Chandrasekaran at the AGM. The company plans to launch 10 EV models before 2025. Further, the supply issues emerging from the semiconductor crunch and pandemic will hit the company’s production volumes, sales, cash flow and margins in the near-term, said Chandrasekaran. Expect the situation to improve in the second half of the ongoing financial year. The company is also on path to wiping out its debt by FY24. In FY21 we were able to reduce debt by over Rs 7,500 crore, he added.
• Coforge: Approved raising up to Rs 375 crore via share issue. It has also approved issuance of depository receipts in one or more tranches.
• Torrent Power: Entered into a Securities Purchase Agreement for acquisition of 100% of the share capital and all securities of LREHL Renewables India SPV 1 from Lightsource India and Lightsource Renewable Energy. The acquisition will cost company approximately Rs 317 crore and is expected to be completed in 2 months.
• Vedanta: Commenced winding-off operations at oxygen plant in Thoothukudi on July 30 to allow enough time for the defrosting process before the date indicated by the Supreme Court. As per the apex court's order on April 27, Vedanta has completed the three-month duration granted by the court to operate the oxygen plant until July 31. The company’s application for extension of the facility for a period of 6 months, is listed to be heard by the Supreme Court on August 6. The company said it is optimistic of further orders from the Supreme Court on resuming production.
• Info Edge (India): Invested Rs 7 crore in 4B Networks, through its wholly owned subsidiary, to increase its shareholding in the company to 19.9% from 12.3%. The company has agreed to acquire additional 1,358 Compulsorily Convertible Preference Shares of 4B Networks.
• Den Networks: The company and its wholly owned subsidiary, Futuristic Media and Entertainment, have sold their entire holding of 1.57 crore equity shares in CCN DEN Network, representing 51% of the equity share capital, to Virender Gaur and Mayank Gaur (the remaining shareholders) for Rs 8.67 crore.
• Hero MotoCorp: Commenced retail sales in Mexico. The company has introduced an extensive portfolio of products, including motorcycles and a scooter, thereby catering to the diverse segments of customers. The product portfolio will be available across the country through the retail arm of the distributor, agencies, and dealers, and will have attractive financing options, the company said.
• Atul Auto: Received approval from RBI for acquisition of equity shares of Khushbu Auto Finance.
• ITC: Wimco has become a wholly owned subsidiary of the company with effect from July 29, consequent to reduction of equity share capital of that company becoming effective upon receipt of necessary approvals, the company said.
• Earnings: HDFC, Punjab National Bank, Emami, Castrol India, RBL Bank, Carborundum Universal, CG Power and Industrial Solutions, Orient Cement, Varun Beverages, Ajmera Realty & Infra India, Shree Renuka Sugars, Avadh Sugar & Energy, Balaji Amines, Capri Global Capital, JMC Projects (India), IFB Agro Industries, Kalyani Steels, Mangalore Chemicals & Fertilizers, Nahar Capital & Financial Services, Nahar Polyfilms, Nahar Spinning Mills, Asian Star Co
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Stocks To Watch
• NCC: Received four new orders totalling to Rs 1,679 crore in July. Out of the total orders, one order valuing Rs 732 crore pertains to Building Division and two orders valuing Rs 730 crore pertain to Water & Environment Division and one order valuing Rs 217 crore pertains to Electrical Division. These orders were received from state government agencies.
• Indian Oil Corporation: To consider monetising some existing fuel stations through Indianoil Petronas Pvt, but won’t sell “lock, stock and barrel,” Sandeep Kumar Gupta, finance director at fuel retailer said during the conference call. Indianoil Petronas, a joint venture between Indian Oil and Malaysia’s Petronas, seeks to expand into retailing of natural gas, gasoline, and diesel. The JV is also looking at setting up new retail outlets and wayside facilities on highways. As part of asset monetisation, Indian Oil also plans to sell 2 hydrogen gas units at its Gujarat refinery during 2021-22 and 5 more next year. The company’s gross borrowing as of June 30 was Rs 85,730 crore.
• VA Tech Wabag: Secured an engineering and procurement order worth $165 million (about Rs 1,230 crore) from Amur Gas Chemical Complex LLC., in Russia. With this order the company has further consolidated its market position in the oil & gas sector. Wabag will be the technology and system integrator for the Integrated Treatment Facilities (Wastewater Treatment unit). It will deploy advanced technologies to treat wastewater streams.
• Tata Motors: To increase prices on an average by 0.8%, depending on the variant and model, effective August 3. The company will offer price protection on all retail till August 31. This is the third price hike by Tata Motors this year due to increase in commodity costs.
• Computer Age Management Services: Appointed Anuj Kumar as the Managing Director for a period of 5 years effective August 1 and SR Ram Charan as the Chief Financial Officer.
• Minda Industries: Board approved launch of QIP issue on Monday. The floor price of Rs 734.84 per equity share is at a discount of 2.50% to Monday’s closing price.
• Reliance Industries: The company has invested Rs 1 lakh in Reliance New Solar Energy Limited, a newly incorporated wholly owned subsidiary. RNSEL is incorporated to undertake activities relating to solar energy.
• V-Mart Retail: The company has opened three new stores in Uttar Pradesh and one store in of Rajasthan. With this the total number of V-Mart stores now stands at 286 as of August 1.
• Adani Ports and SEZ: The company has raised $750 million in two tranches by allotment of fixed rate senior unsecured notes. The said Notes are expected to be listed on Singapore Exchange Securities Trading Limited and the India International Exchange Limited.
• NCC: Received four new orders totalling to Rs 1,679 crore in July. Out of the total orders, one order valuing Rs 732 crore pertains to Building Division and two orders valuing Rs 730 crore pertain to Water & Environment Division and one order valuing Rs 217 crore pertains to Electrical Division. These orders were received from state government agencies.
• Indian Oil Corporation: To consider monetising some existing fuel stations through Indianoil Petronas Pvt, but won’t sell “lock, stock and barrel,” Sandeep Kumar Gupta, finance director at fuel retailer said during the conference call. Indianoil Petronas, a joint venture between Indian Oil and Malaysia’s Petronas, seeks to expand into retailing of natural gas, gasoline, and diesel. The JV is also looking at setting up new retail outlets and wayside facilities on highways. As part of asset monetisation, Indian Oil also plans to sell 2 hydrogen gas units at its Gujarat refinery during 2021-22 and 5 more next year. The company’s gross borrowing as of June 30 was Rs 85,730 crore.
• VA Tech Wabag: Secured an engineering and procurement order worth $165 million (about Rs 1,230 crore) from Amur Gas Chemical Complex LLC., in Russia. With this order the company has further consolidated its market position in the oil & gas sector. Wabag will be the technology and system integrator for the Integrated Treatment Facilities (Wastewater Treatment unit). It will deploy advanced technologies to treat wastewater streams.
• Tata Motors: To increase prices on an average by 0.8%, depending on the variant and model, effective August 3. The company will offer price protection on all retail till August 31. This is the third price hike by Tata Motors this year due to increase in commodity costs.
• Computer Age Management Services: Appointed Anuj Kumar as the Managing Director for a period of 5 years effective August 1 and SR Ram Charan as the Chief Financial Officer.
• Minda Industries: Board approved launch of QIP issue on Monday. The floor price of Rs 734.84 per equity share is at a discount of 2.50% to Monday’s closing price.
• Reliance Industries: The company has invested Rs 1 lakh in Reliance New Solar Energy Limited, a newly incorporated wholly owned subsidiary. RNSEL is incorporated to undertake activities relating to solar energy.
• V-Mart Retail: The company has opened three new stores in Uttar Pradesh and one store in of Rajasthan. With this the total number of V-Mart stores now stands at 286 as of August 1.
• Adani Ports and SEZ: The company has raised $750 million in two tranches by allotment of fixed rate senior unsecured notes. The said Notes are expected to be listed on Singapore Exchange Securities Trading Limited and the India International Exchange Limited.
#Stocks Giving Positive news:
PNB
Minda IND
Adani Ent
Tata Motors
Bank of Maharashtra
Textile Cos
JMC Projects
VA Tech Wabag
PNB
Minda IND
Adani Ent
Tata Motors
Bank of Maharashtra
Textile Cos
JMC Projects
VA Tech Wabag
Stock giving Positive news
#BhartiAirtel
#DrReddy's
#Tatacons
#adanient
#bajajhealth
#iiflwealth
#careratings
#angelbroking
#BhartiAirtel
#DrReddy's
#Tatacons
#adanient
#bajajhealth
#iiflwealth
#careratings
#angelbroking
Stocks To Watch
• Godrej Properties: Is seeing strong revival in housing sales after the second wave of the pandemic impacted first-quarter results, Executive Chairman Pirojshah Godrej said. Revival in sales post first quarter and large number of planned project launches will help the company to record higher sales growth in the current financial year, compared to last year, Godrej said. The company is also seeking to invest in large land deals in the near future after raising capital earlier this year. It plans to use a significant amount of this capital for expanding its presence in Mumbai.
• Tata Steel: Global rating agency S&P has upgraded the company’s long-term rating to BB from BB-; outlook remains stable. S&P expects Tata Steel’s debt levels to decline materially over the next two years on the company’s commitment to deleverage, supported by strong operating cash flows. It expects Tata Steel’s adjusted debt to decline by more than 30% by March 2023 from its March 2021 level.
• GR Infraprojects: Received Letter of Acceptance from Bangalore Metro Rail Corporation for construction of 5 metro stations, elevated structures, road widening and allied works. The contract price is Rs 365 crore. The project is expected to be completed in 21 months from signing of contract agreement.
• Natco Pharma: Transferred the Lenalidomide Capsules ANDA to Arrow International Limited as per an earlier agreement between the parties. Arrow International is the marketing partner of Natco for this product in the U.S. market. The ANDA was approved by U.S. FDA in May 2021.
• Tata Consultancy Services: Rich Products has selected the company for intelligent supply chain modernisation to improve operations and agility. TCS will help the global food company harness cloud-based AI and ML platform to enhance integrated planning and agility in meeting changing customer demands.
• Linde India: Signed a Business Transfer Agreement with HPS Gases Ltd., Vadodara to acquire its entire packaged gases business along with certain distribution assets with effect from November 1, for an aggregate cash consideration of Rs 27.5 crore.
• Balaji Amines: To set up a new plant to manufacture Acetonitrile. The plant will cost company approximately Rs 80 crore and will be set up in 12 to 18 months. This will also increase the company’s capacity by 16,500 TPA from 9,000 TPA.
• Dr. Reddy's Laboratories: Re-launched Naproxen Sodium Tablets USP, 220 mg, the store-brand equivalent of Aleve, in the U.S. market, as approved by the U.S. Food and Drug Administration. Naproxen Sodium Tablets is an over-the-counter nonsteroidal anti-inflammatory drug used as a pain reliever and fever reducer.
• Canara Bank: To raise up to Rs 2,500 crore through QIP/Rights Issue/any other approved means during the financial year 2021-22. The bank will also appropriate accumulated losses of Rs 18,495.30 crore from Share Premium Account.
• Oswal Leasing: To consider right issue on August 12.
• Birla Corporation: The Board of Directors of RCCPL, a wholly owned subsidiary, has approved revision in the capital expenditure from Rs 2,450 crore to Rs 2,744 crore for setting up of a 3.90 million tons Greenfield Integrated Cement Plant at Mukutban (Maharashtra) with 40 MW Captive Power Plant and 10.60 MW Waste Heat Recovery System, on account of the revision in project commencement schedule and other factors including increase in commodity prices. The board has also approved restructuring of the scope of second phase expansion of existing capacity of grinding cement plant at Kundanganj (Uttar Pradesh). Expansion in capacity as per the revised scope stands at 0.7 million tons. The project cost stands reduced to Rs 154 crore.
• Godrej Properties: Is seeing strong revival in housing sales after the second wave of the pandemic impacted first-quarter results, Executive Chairman Pirojshah Godrej said. Revival in sales post first quarter and large number of planned project launches will help the company to record higher sales growth in the current financial year, compared to last year, Godrej said. The company is also seeking to invest in large land deals in the near future after raising capital earlier this year. It plans to use a significant amount of this capital for expanding its presence in Mumbai.
• Tata Steel: Global rating agency S&P has upgraded the company’s long-term rating to BB from BB-; outlook remains stable. S&P expects Tata Steel’s debt levels to decline materially over the next two years on the company’s commitment to deleverage, supported by strong operating cash flows. It expects Tata Steel’s adjusted debt to decline by more than 30% by March 2023 from its March 2021 level.
• GR Infraprojects: Received Letter of Acceptance from Bangalore Metro Rail Corporation for construction of 5 metro stations, elevated structures, road widening and allied works. The contract price is Rs 365 crore. The project is expected to be completed in 21 months from signing of contract agreement.
• Natco Pharma: Transferred the Lenalidomide Capsules ANDA to Arrow International Limited as per an earlier agreement between the parties. Arrow International is the marketing partner of Natco for this product in the U.S. market. The ANDA was approved by U.S. FDA in May 2021.
• Tata Consultancy Services: Rich Products has selected the company for intelligent supply chain modernisation to improve operations and agility. TCS will help the global food company harness cloud-based AI and ML platform to enhance integrated planning and agility in meeting changing customer demands.
• Linde India: Signed a Business Transfer Agreement with HPS Gases Ltd., Vadodara to acquire its entire packaged gases business along with certain distribution assets with effect from November 1, for an aggregate cash consideration of Rs 27.5 crore.
• Balaji Amines: To set up a new plant to manufacture Acetonitrile. The plant will cost company approximately Rs 80 crore and will be set up in 12 to 18 months. This will also increase the company’s capacity by 16,500 TPA from 9,000 TPA.
• Dr. Reddy's Laboratories: Re-launched Naproxen Sodium Tablets USP, 220 mg, the store-brand equivalent of Aleve, in the U.S. market, as approved by the U.S. Food and Drug Administration. Naproxen Sodium Tablets is an over-the-counter nonsteroidal anti-inflammatory drug used as a pain reliever and fever reducer.
• Canara Bank: To raise up to Rs 2,500 crore through QIP/Rights Issue/any other approved means during the financial year 2021-22. The bank will also appropriate accumulated losses of Rs 18,495.30 crore from Share Premium Account.
• Oswal Leasing: To consider right issue on August 12.
• Birla Corporation: The Board of Directors of RCCPL, a wholly owned subsidiary, has approved revision in the capital expenditure from Rs 2,450 crore to Rs 2,744 crore for setting up of a 3.90 million tons Greenfield Integrated Cement Plant at Mukutban (Maharashtra) with 40 MW Captive Power Plant and 10.60 MW Waste Heat Recovery System, on account of the revision in project commencement schedule and other factors including increase in commodity prices. The board has also approved restructuring of the scope of second phase expansion of existing capacity of grinding cement plant at Kundanganj (Uttar Pradesh). Expansion in capacity as per the revised scope stands at 0.7 million tons. The project cost stands reduced to Rs 154 crore.