Stocks To Watch
• Tata Power Co. and Adani Power Ltd. to sell power on exchange for one month, according to a Economic Times report. Ministry of Power will issue a statutory order allowing plants run by Tata Power Co. and Adani Power Ltd. at Mundra in Gujarat to sell electricity on the power exchanges for a month. About 3,200 MW capacity at Tata Power’s Mundra plant and Adani Power’s 1,200 MW plant will be allowed to sell on the power exchanges for a month to ease electricity supply, according to the report.
• Bharat Forge: Says report on Tesla talks incorrect
• Bharti Airtel: To take ‘Baby Steps’ to raise tariffs, Mittal says
• Jindal Steel & Power: Board has approved a plan to raise up to $1 billion by selling bonds denominated in foreign currency or rupee in one or more tranches.
• L&T: The company has completed the sale of its entire stake in L&T Uttaranchal Hydropower to ReNew Power Services.
• Ugro Capital: To consider raising funds through various options of borrowings including by way of issue of debt securities through private placement or public issue in September.
• HFCL: Board of Directors to meet on September 3 to consider the proposals for raising funds by way of issue of equity shares/preference shares/bonds/debentures/non-convertible debt instruments/warrants/any other securities, including through preferential issue on a private placement basis, QIP, rights issue or any other methods or combination thereof.
• NHPC: The Unit 3 (60 MW) of Bairasiul Power Station in Himachal Pradesh has been tested and commissioned after completion of renovation and modernisation works. The commercial operation of Unit 3 will start from August 31, the company said.
• Bank of India: Approved the closure of the issue period for QIP on August 30 and the issue price of Rs 62.89 per equity share. The issue price is at a discount of 4.99% to the floor price of Rs 66.19 per equity share.
• Tata Power Co. and Adani Power Ltd. to sell power on exchange for one month, according to a Economic Times report. Ministry of Power will issue a statutory order allowing plants run by Tata Power Co. and Adani Power Ltd. at Mundra in Gujarat to sell electricity on the power exchanges for a month. About 3,200 MW capacity at Tata Power’s Mundra plant and Adani Power’s 1,200 MW plant will be allowed to sell on the power exchanges for a month to ease electricity supply, according to the report.
• Bharat Forge: Says report on Tesla talks incorrect
• Bharti Airtel: To take ‘Baby Steps’ to raise tariffs, Mittal says
• Jindal Steel & Power: Board has approved a plan to raise up to $1 billion by selling bonds denominated in foreign currency or rupee in one or more tranches.
• L&T: The company has completed the sale of its entire stake in L&T Uttaranchal Hydropower to ReNew Power Services.
• Ugro Capital: To consider raising funds through various options of borrowings including by way of issue of debt securities through private placement or public issue in September.
• HFCL: Board of Directors to meet on September 3 to consider the proposals for raising funds by way of issue of equity shares/preference shares/bonds/debentures/non-convertible debt instruments/warrants/any other securities, including through preferential issue on a private placement basis, QIP, rights issue or any other methods or combination thereof.
• NHPC: The Unit 3 (60 MW) of Bairasiul Power Station in Himachal Pradesh has been tested and commissioned after completion of renovation and modernisation works. The commercial operation of Unit 3 will start from August 31, the company said.
• Bank of India: Approved the closure of the issue period for QIP on August 30 and the issue price of Rs 62.89 per equity share. The issue price is at a discount of 4.99% to the floor price of Rs 66.19 per equity share.
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Stocks to watch 31/08/2021
TVS motor
KNR
NHPC
Acrysil
VIP
RIL
HCL Tech
Tata power
TVS motor
KNR
NHPC
Acrysil
VIP
RIL
HCL Tech
Tata power
Stocks To Focus
• Maruti Suzuki India: Expects output to plunge in September as the semiconductor shortage hits production. Total vehicle production volume could be around 40% of normal output, the company said. Vehicle production to be affected at Haryana plant and contract manufacturer, Suzuki Motor Gujarat Pvt.’s Gujarat facility. The company cited “a supply constraint of electronic components due to the semiconductor shortage situation” for the impact on production.
• Shoppers Stop: Approved sale of 100% equity shares held by the company in Crossword Bookstores, a wholly owned subsidiary, to M/s.Dinesh Gupta, Aakash Gupta & Family (Owners of Agarwal Business House). The business of Crossword Bookstores is valued at Rs 41.6 crore. ABH will take over all the assets and brand.
• BHEL: Secured order worth Rs 10,800 crore from NPCIL for EPC of Turbine Island for 6 units of 700 MWe. Six orders, received from NPCIL on August 30, envisage setting up of 4 units of 700 MWe at Gorakhpur, Haryana and 2 units of 700 MWe at Kaiga, Karnataka.
• Likhitha Infrastructure: Received an order worth Rs 145.86 crore from Indradhanush Gas Grid for laying and construction of steel gas pipeline and terminals along with associated facilities for section 5 & 9 of North-East Gas Grid Project.
• Wipro: Partnered with HERE Technologies to offer location-based services, to customers from energy & utilities, manufacturing, transport & logistics, telecom and automotive industry verticals. Wipro and HERE will jointly develop solutions in the areas of asset tracking, logistics, supply chain, smart-metering and analytics, field workforce management, and private mapping-as-a-service for indoor and outdoor real-time asset tracking.
• AU Small Finance Bank: Clarified on recent exits at the bank. Sumit Dhir, head of internal audit resigned due to changes in personal circumstances following Covid second wave, the bank said. Dhir continues to be on the bank's rolls as head of internal audit. The bank remains in discussions with him for a possible retention. In March, Nitin Gupta, who had been with the bank since 2015, resigned as head of internal audit. And in July Alok Gupta resigned as the chief risk officer.
• Mastek: The company partnered with fulfillmenttools to deliver modern omnichannel fulfillment solutions to customers worldwide.
• CreditAccess Grameen: Approved allotment of 1,000 secured NCDs of face value of Rs 10 lakh each, aggregating up to Rs 100 crore on private placement basis.
• Tourism Finance Corporation of India: To consider fundraising proposal on September 3. The board may consider raising funds by way of issue of equity shares, convertible/non-convertible preference shares, convertible securities of any description or warrants or debt securities.
• JB Chemicals & Pharmaceuticals: Vijay Bhatt has resigned as the Chief Financial Officer of the company effective August 31.
• Chemplast Sanmar: Appointed N Muralidharan as the Chief Financial Officer with effect from September 1.
• HDFC Life Insurance Company: To consider issue of equity shares and/or other securities of the company by way of preferential allotment on September 3.
• Maruti Suzuki India: Expects output to plunge in September as the semiconductor shortage hits production. Total vehicle production volume could be around 40% of normal output, the company said. Vehicle production to be affected at Haryana plant and contract manufacturer, Suzuki Motor Gujarat Pvt.’s Gujarat facility. The company cited “a supply constraint of electronic components due to the semiconductor shortage situation” for the impact on production.
• Shoppers Stop: Approved sale of 100% equity shares held by the company in Crossword Bookstores, a wholly owned subsidiary, to M/s.Dinesh Gupta, Aakash Gupta & Family (Owners of Agarwal Business House). The business of Crossword Bookstores is valued at Rs 41.6 crore. ABH will take over all the assets and brand.
• BHEL: Secured order worth Rs 10,800 crore from NPCIL for EPC of Turbine Island for 6 units of 700 MWe. Six orders, received from NPCIL on August 30, envisage setting up of 4 units of 700 MWe at Gorakhpur, Haryana and 2 units of 700 MWe at Kaiga, Karnataka.
• Likhitha Infrastructure: Received an order worth Rs 145.86 crore from Indradhanush Gas Grid for laying and construction of steel gas pipeline and terminals along with associated facilities for section 5 & 9 of North-East Gas Grid Project.
• Wipro: Partnered with HERE Technologies to offer location-based services, to customers from energy & utilities, manufacturing, transport & logistics, telecom and automotive industry verticals. Wipro and HERE will jointly develop solutions in the areas of asset tracking, logistics, supply chain, smart-metering and analytics, field workforce management, and private mapping-as-a-service for indoor and outdoor real-time asset tracking.
• AU Small Finance Bank: Clarified on recent exits at the bank. Sumit Dhir, head of internal audit resigned due to changes in personal circumstances following Covid second wave, the bank said. Dhir continues to be on the bank's rolls as head of internal audit. The bank remains in discussions with him for a possible retention. In March, Nitin Gupta, who had been with the bank since 2015, resigned as head of internal audit. And in July Alok Gupta resigned as the chief risk officer.
• Mastek: The company partnered with fulfillmenttools to deliver modern omnichannel fulfillment solutions to customers worldwide.
• CreditAccess Grameen: Approved allotment of 1,000 secured NCDs of face value of Rs 10 lakh each, aggregating up to Rs 100 crore on private placement basis.
• Tourism Finance Corporation of India: To consider fundraising proposal on September 3. The board may consider raising funds by way of issue of equity shares, convertible/non-convertible preference shares, convertible securities of any description or warrants or debt securities.
• JB Chemicals & Pharmaceuticals: Vijay Bhatt has resigned as the Chief Financial Officer of the company effective August 31.
• Chemplast Sanmar: Appointed N Muralidharan as the Chief Financial Officer with effect from September 1.
• HDFC Life Insurance Company: To consider issue of equity shares and/or other securities of the company by way of preferential allotment on September 3.
Positive Stocks
Coal india
HDFC Life
Shoppers Stop
Vedanta
BHEL
Escorts
Tourism fin
Asian Granito
Negative stocks
AU SFB
MARUTI
Coal india
HDFC Life
Shoppers Stop
Vedanta
BHEL
Escorts
Tourism fin
Asian Granito
Negative stocks
AU SFB
MARUTI
*BHARTI AIRTEL CHIEF TECHNOLOGY OFFICER SEKHON TO BRIEF MEDIA ON 02 SEP 2021
*CHINA TO SELL MORE METALS FROM ITS STOCKPILES DEPENDING ON MARKET DEMAND.
*CHINA TO SELL MORE METALS FROM ITS STOCKPILES DEPENDING ON MARKET DEMAND.
*WARDWIZARD INNOVATIONS: CO ACHIEVES HIGHEST EVER MONTHLY SALES IN AUGUST 2021
SOLD 2000 ELECTRIC SCOOTERS VS 945 MOM VS 374 MOM
400% GROWTH
SOLD 2000 ELECTRIC SCOOTERS VS 945 MOM VS 374 MOM
400% GROWTH
Positive stocks.
Coal india
Eicher motors
Vedanta
SPARC
Autos
CEAT
Dhunseri
Minda corp
Mphasis
Jet Airways
Negative stocks
Hero Moto
Glenmark life
Hind zinc
Coal india
Eicher motors
Vedanta
SPARC
Autos
CEAT
Dhunseri
Minda corp
Mphasis
Jet Airways
Negative stocks
Hero Moto
Glenmark life
Hind zinc
Stocks To focus
• Vedanta: Board has approved first interim dividend of Rs 18.50 per equity share for the financial year 2021-22. The interim dividend amounts to Rs 6,877 crore for the financial year. The record date for the purpose of payment of dividend is September 9, 2021.
• Hindustan Zinc: Extended the shutdown of one of the roasters at Chanderiya lead zinc smelter for repair and overhaul of many major structural components to avoid any operational risk in the future. The shutdown will result in loss of production of about 25,000 ton of zinc. The company expects roaster to be operational by mid of October 2021.
• Wipro: Appointed Mohammed Areff as the Country Head and Managing Director for the Middle East. Areff will focus on Wipro’s vision for business growth, localisation, brand building and significant transformational and modernisation engagements with clients in key sectors across the region, the company said.
• State Bank of India: Raised Rs 4,000 crore via local AT-1 bond issue. SBI raised funds at coupon rate of 7.72%. Bank received over Rs 10,000 crore in bids.
• Indian Bank: The Central government has appointed SL Jain as Managing Director and Chief Executive Director of the bank for a period of three years with effect from September 1.
• Mphasis: Board has approved re-appointment of Nitin Rakesh as the Chief Executive Officer and appointment as the Managing Director of the company for a period of 5 years with effect from October 1, 2021
• IIFL Wealth Management: Appointed Sanjay Wadhwa as Chief Financial Officer of the company with effect from September 2. Wadhwa will replace Mihir Nanavati who resigned from the role effective September 1.
• Minda Corporation: The wholly owned subsidiary of the company, Spark Minda Green Mobility Systems, has entered into definitive agreements for acquiring 26% equity stake in EVQPOINT Solutions. The investment will see Spark Minda Group, become EVQPOINT’s exclusive technology and manufacturing partner for battery chargers and EV supply equipment. This partnership with EVQPoint is meant to strengthen the Spark Minda Group’s EV supply equipment portfolio and offer battery chargers for both onboard and offboard configurations in the range of 250 W to 6.6 KW, with a roadmap for further range expansion, said Executive Director Aakash Minda.
• Aditya Birla Fashion and Retail: To raise up to Rs 400 crore by issuing 4,000 unsecured NCDs of face value of Rs 10 lakh each on private placement basis, on or after September 8.
• Kitex Garments: Telangana government has approved Rs 1,000 crore expansion plan of the company.
• Kotak Mahindra Bank: Completed the sale of 20 crore equity shares, 8.57% shareholding on a fully diluted basis, of Airtel Payments Bank to Bharti Enterprises for Rs 294.8 crore.
• Axis Bank: The RBI has imposed a penalty of Rs 25 lakh on the bank for contravention of certain provisions of KYC norms.
• Coal India: Production in August up 14.6% year-on-year to 42.6 MT versus 37.2 MT. Offtake up 9.5% year-on-year to 48.6 MT versus 44.4 MT.
• GRM Overseas: Approved appointment of Vedant Garg as Chief Financial Officer with effect from September 29. Garg will replace Rattan Lal Mittal, who will step down from the position from closing of business hours on September 28.
• Grasim Industries: Board has approved appointment of Hari Krishna Agarwal, as the Managing Director of the company for a period of two years with effect from December 1, 2021. Agarwal will replace Dilip Gaur who will retire on November 30.
• IFGL Refractories: Completed the first phase of greenfield project being set up at industrial park in Andhra Pradesh at a cost of about Rs 30 crore. The company has started commercial production of Monolithics and Castables. Installed capacity is 48,000 MT per annum.
• Vedanta: Board has approved first interim dividend of Rs 18.50 per equity share for the financial year 2021-22. The interim dividend amounts to Rs 6,877 crore for the financial year. The record date for the purpose of payment of dividend is September 9, 2021.
• Hindustan Zinc: Extended the shutdown of one of the roasters at Chanderiya lead zinc smelter for repair and overhaul of many major structural components to avoid any operational risk in the future. The shutdown will result in loss of production of about 25,000 ton of zinc. The company expects roaster to be operational by mid of October 2021.
• Wipro: Appointed Mohammed Areff as the Country Head and Managing Director for the Middle East. Areff will focus on Wipro’s vision for business growth, localisation, brand building and significant transformational and modernisation engagements with clients in key sectors across the region, the company said.
• State Bank of India: Raised Rs 4,000 crore via local AT-1 bond issue. SBI raised funds at coupon rate of 7.72%. Bank received over Rs 10,000 crore in bids.
• Indian Bank: The Central government has appointed SL Jain as Managing Director and Chief Executive Director of the bank for a period of three years with effect from September 1.
• Mphasis: Board has approved re-appointment of Nitin Rakesh as the Chief Executive Officer and appointment as the Managing Director of the company for a period of 5 years with effect from October 1, 2021
• IIFL Wealth Management: Appointed Sanjay Wadhwa as Chief Financial Officer of the company with effect from September 2. Wadhwa will replace Mihir Nanavati who resigned from the role effective September 1.
• Minda Corporation: The wholly owned subsidiary of the company, Spark Minda Green Mobility Systems, has entered into definitive agreements for acquiring 26% equity stake in EVQPOINT Solutions. The investment will see Spark Minda Group, become EVQPOINT’s exclusive technology and manufacturing partner for battery chargers and EV supply equipment. This partnership with EVQPoint is meant to strengthen the Spark Minda Group’s EV supply equipment portfolio and offer battery chargers for both onboard and offboard configurations in the range of 250 W to 6.6 KW, with a roadmap for further range expansion, said Executive Director Aakash Minda.
• Aditya Birla Fashion and Retail: To raise up to Rs 400 crore by issuing 4,000 unsecured NCDs of face value of Rs 10 lakh each on private placement basis, on or after September 8.
• Kitex Garments: Telangana government has approved Rs 1,000 crore expansion plan of the company.
• Kotak Mahindra Bank: Completed the sale of 20 crore equity shares, 8.57% shareholding on a fully diluted basis, of Airtel Payments Bank to Bharti Enterprises for Rs 294.8 crore.
• Axis Bank: The RBI has imposed a penalty of Rs 25 lakh on the bank for contravention of certain provisions of KYC norms.
• Coal India: Production in August up 14.6% year-on-year to 42.6 MT versus 37.2 MT. Offtake up 9.5% year-on-year to 48.6 MT versus 44.4 MT.
• GRM Overseas: Approved appointment of Vedant Garg as Chief Financial Officer with effect from September 29. Garg will replace Rattan Lal Mittal, who will step down from the position from closing of business hours on September 28.
• Grasim Industries: Board has approved appointment of Hari Krishna Agarwal, as the Managing Director of the company for a period of two years with effect from December 1, 2021. Agarwal will replace Dilip Gaur who will retire on November 30.
• IFGL Refractories: Completed the first phase of greenfield project being set up at industrial park in Andhra Pradesh at a cost of about Rs 30 crore. The company has started commercial production of Monolithics and Castables. Installed capacity is 48,000 MT per annum.
Cement stocks : Sources says Cement co. s price hiked in Andhara & Telengana state (Possitive)
Stocks To focus
• Reliance Industries Ltd: Reliance Retail Ventures has acquired sole control of Just Dial. Just Dial on September 1 allotted 2.12 crore equity shares at a price of Rs 1,022.25 per equity share to Reliance Retail, representing 25.35% of Just Dial’s paid-up share capital. Move follows acquisition of 1.31 crore shares, representing 15.63% of Just Dial shares on July 20. Reliance Retail now holds 40.98% in Just Dial.
• Granules India: The company has received licence from Defence Research & Development Organisation, Ministry of Defence, to manufacture and market 2-Deoxy-D-Glucose. Developed by DRDO, 2-DG has been granted permission by Drug Controller General of India for emergency use as adjunct therapy in moderate to severe Covid-19 patients.
• IRB Infrastructure Developers: The company has emerged as a preferred bidder for the construction of six lanes of 20.060 kms, Pondavakkam to Kannigaipair stretch, on the upcoming Chittoor – Thachur Highway in Tamil Nadu at the cost outlay of Rs 909 crore. The company bid Rs 844.14 crore for the highway project. The construction is expected to be completed in 730 days.
• RailTel Corporation of India: The company has received a contract from Directorate of Information Technology, Indian Air Force for implementation of secure OPS Network for value of Rs 299.95 crore. The work is expected to be completed over a period of 12 months.
• Jammu & Kashmir Bank: Approved raising of equity share capital up to Rs 1000 crore in one or more tranches by way of rights issue/peferential allotment/private placement/QIP or any other approved mode. The bank also approved raising up to Rs 1000 crore via bonds.
• OnMobile Global: A branch of the company in Panama has been dissolved effective August 31.
• Rossari Biotech: The company has completed the acquisition of the first tranche of 76% of the total equity share capital (on a fully diluted basis) of Tristar Intermediates on September 1.
• Hindustan Aeronautics: Board to consider sub-division of equity shares on Sept. 21.
• Jain Irrigation: Board meeting on Sept. 7 to consider fund raising plan
• MT Educare (MTEL): Defaults on repayment of interest and principal
• AGMs: PNB Housing Finance (3 p.m.); Macrotech Developers (3:30 p.m.); AlA Engineering (10 a.m.); Multi Commodity Exchange (11:30 a.m.); Edelweiss Financial Services (4 p.m.); Strides Pharma (12:30 p.m.); Kalyani Steels (11 a.m.); Electrosteel Castings (1:30 a.m.); Indo Count Industries (12:30 p.m.)
• Reliance Industries Ltd: Reliance Retail Ventures has acquired sole control of Just Dial. Just Dial on September 1 allotted 2.12 crore equity shares at a price of Rs 1,022.25 per equity share to Reliance Retail, representing 25.35% of Just Dial’s paid-up share capital. Move follows acquisition of 1.31 crore shares, representing 15.63% of Just Dial shares on July 20. Reliance Retail now holds 40.98% in Just Dial.
• Granules India: The company has received licence from Defence Research & Development Organisation, Ministry of Defence, to manufacture and market 2-Deoxy-D-Glucose. Developed by DRDO, 2-DG has been granted permission by Drug Controller General of India for emergency use as adjunct therapy in moderate to severe Covid-19 patients.
• IRB Infrastructure Developers: The company has emerged as a preferred bidder for the construction of six lanes of 20.060 kms, Pondavakkam to Kannigaipair stretch, on the upcoming Chittoor – Thachur Highway in Tamil Nadu at the cost outlay of Rs 909 crore. The company bid Rs 844.14 crore for the highway project. The construction is expected to be completed in 730 days.
• RailTel Corporation of India: The company has received a contract from Directorate of Information Technology, Indian Air Force for implementation of secure OPS Network for value of Rs 299.95 crore. The work is expected to be completed over a period of 12 months.
• Jammu & Kashmir Bank: Approved raising of equity share capital up to Rs 1000 crore in one or more tranches by way of rights issue/peferential allotment/private placement/QIP or any other approved mode. The bank also approved raising up to Rs 1000 crore via bonds.
• OnMobile Global: A branch of the company in Panama has been dissolved effective August 31.
• Rossari Biotech: The company has completed the acquisition of the first tranche of 76% of the total equity share capital (on a fully diluted basis) of Tristar Intermediates on September 1.
• Hindustan Aeronautics: Board to consider sub-division of equity shares on Sept. 21.
• Jain Irrigation: Board meeting on Sept. 7 to consider fund raising plan
• MT Educare (MTEL): Defaults on repayment of interest and principal
• AGMs: PNB Housing Finance (3 p.m.); Macrotech Developers (3:30 p.m.); AlA Engineering (10 a.m.); Multi Commodity Exchange (11:30 a.m.); Edelweiss Financial Services (4 p.m.); Strides Pharma (12:30 p.m.); Kalyani Steels (11 a.m.); Electrosteel Castings (1:30 a.m.); Indo Count Industries (12:30 p.m.)