Stocks To Watch
Maruti Suzuki India: The company expects adverse impact on vehicle production in Haryana and at its contract manufacturing unit, Suzuki motor Gujarat Pvt Ltd, Gujarat in October due to chip shortage. Total production volume across both the locations to be around 60% of normal production.
Jubilant Foodworks: Jubilant Foodworks Netherlands B.V. to acquire up to 17.18% ordinary shares of DP Eurasia N.V. through a reverse bookbuild process from certain professional investors of DP Eurasia. Post-acquisition, the company will indirectly hold up to 49.99% ordinary shares of DP Eurasia. Further, the company has exercised a call option for acquiring 39% equity stake in Jubilant Golden Harvest. Post-acquisition, the company will own 90% of the total shareholding of JGH.
Adani Green Energy: The wholly owned subsidiary Adani Renewable Energy (MH) Energy has completed acquisition of 100% of the share capital and all the securities of Vento Energy Infra from Essel Green Energy.
Phillips Carbon Black: The company launched its QIP issue on Thursday and approved the floor price of Rs 255.85 per share. The floor price is at a discount of 4.31% to Thursday's closing price.
Jain Irrigation Systems: The company’s wholly owned subsidiary, Jain International Trading BV, Netherlands, has completed the restructuring of $200 million bonds listed on Singapore Stock Exchange.
SBI, Bank of Baroda and Union Bank of India have each subscribed to 1.98 crore shares of National Asset Reconstruction Company. However, the four banks will reduce their stake in NARC to 9.90% from 13.27% by December 31. Canara Bank has subscribed to 2.40 crore shares of NARC. It will reduce its stake in the asset reconstruction company to 12% from 16.09% by December 31. PNB has subscribed to 1.80 crore shares of NARC. It will reduce its stake to 9% from 12.06% by December 31.
Punjab National Bank: The bank has reduced Marginal Cost of Funds Based Lending Rate by 0.05% across tenors effective today. The Base Rate has been reduced from 8.55% to 8.50%.
IRB Infrastructure Developers: Board has approved the allotment of secured NCDs aggregating to Rs 350 crore on a private placement basis to IDBI Bank. The coupon rate has been fixed at 9.55% per annum for a tenure of 6 years.
IIFL Wealth Management: IIFL Asset Management’s asset base has crossed Rs 50,000 crore-mark. The fund house's aggregate AUM comprising alternative assets and mutual fund rose to Rs 50,019 crore from Rs 37,372 on March 31, FY21. IIFL AMC is a wholly owned subsidiary of the company.
Bank of India: The bank has issued and allotted Basel III Compliant Tier II bonds amounting to Rs 1,800 crore on a private placement basis. The coupon rate has been fixed at 7.14% per annum.
Vedanta: Board has appointed Sandeep Modi, Deputy CFO as the interim Chief Financial Officer of the company w.e.f. October 1.
Maruti Suzuki India: The company expects adverse impact on vehicle production in Haryana and at its contract manufacturing unit, Suzuki motor Gujarat Pvt Ltd, Gujarat in October due to chip shortage. Total production volume across both the locations to be around 60% of normal production.
Jubilant Foodworks: Jubilant Foodworks Netherlands B.V. to acquire up to 17.18% ordinary shares of DP Eurasia N.V. through a reverse bookbuild process from certain professional investors of DP Eurasia. Post-acquisition, the company will indirectly hold up to 49.99% ordinary shares of DP Eurasia. Further, the company has exercised a call option for acquiring 39% equity stake in Jubilant Golden Harvest. Post-acquisition, the company will own 90% of the total shareholding of JGH.
Adani Green Energy: The wholly owned subsidiary Adani Renewable Energy (MH) Energy has completed acquisition of 100% of the share capital and all the securities of Vento Energy Infra from Essel Green Energy.
Phillips Carbon Black: The company launched its QIP issue on Thursday and approved the floor price of Rs 255.85 per share. The floor price is at a discount of 4.31% to Thursday's closing price.
Jain Irrigation Systems: The company’s wholly owned subsidiary, Jain International Trading BV, Netherlands, has completed the restructuring of $200 million bonds listed on Singapore Stock Exchange.
SBI, Bank of Baroda and Union Bank of India have each subscribed to 1.98 crore shares of National Asset Reconstruction Company. However, the four banks will reduce their stake in NARC to 9.90% from 13.27% by December 31. Canara Bank has subscribed to 2.40 crore shares of NARC. It will reduce its stake in the asset reconstruction company to 12% from 16.09% by December 31. PNB has subscribed to 1.80 crore shares of NARC. It will reduce its stake to 9% from 12.06% by December 31.
Punjab National Bank: The bank has reduced Marginal Cost of Funds Based Lending Rate by 0.05% across tenors effective today. The Base Rate has been reduced from 8.55% to 8.50%.
IRB Infrastructure Developers: Board has approved the allotment of secured NCDs aggregating to Rs 350 crore on a private placement basis to IDBI Bank. The coupon rate has been fixed at 9.55% per annum for a tenure of 6 years.
IIFL Wealth Management: IIFL Asset Management’s asset base has crossed Rs 50,000 crore-mark. The fund house's aggregate AUM comprising alternative assets and mutual fund rose to Rs 50,019 crore from Rs 37,372 on March 31, FY21. IIFL AMC is a wholly owned subsidiary of the company.
Bank of India: The bank has issued and allotted Basel III Compliant Tier II bonds amounting to Rs 1,800 crore on a private placement basis. The coupon rate has been fixed at 7.14% per annum.
Vedanta: Board has appointed Sandeep Modi, Deputy CFO as the interim Chief Financial Officer of the company w.e.f. October 1.
Positive Stocks
ONGC,OIL
GODREJ
DLF, SOBHA
DELTA CORP,
INDIA CEMENTS, PERSISTENT
ABBOT INDIA
JK CEMENT
INDIABULLS HSG
NBCC
GR INFRA
NEGATIVE Stocks
Zee Ent
Maruti
Chemcon
GAIL
City Gas cos
Fertiliser, PWR & TILES COS
ONGC,OIL
GODREJ
DLF, SOBHA
DELTA CORP,
INDIA CEMENTS, PERSISTENT
ABBOT INDIA
JK CEMENT
INDIABULLS HSG
NBCC
GR INFRA
NEGATIVE Stocks
Zee Ent
Maruti
Chemcon
GAIL
City Gas cos
Fertiliser, PWR & TILES COS
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NTPC plans to raise Rs 15,000 crore through initial public offerings of 3 units. IPO
Eli Lilly & Cipla enter into a strategic partnership in India to enhance access to Lilly's key diabetes products.
Eli Lilly & Cipla enter into a strategic partnership in India to enhance access to Lilly's key diabetes products.
Stocks To Focus.
Grasim Industries: Deputy Commissioner of Income Tax has imposed a capital gain tax on the company of Rs 8,334 crore related to a sale of shares in group firm Aditya Birla Capital during tax assessment year 2018-19. The company said it will take appropriate action against the said order which it believes is against the spirit of tax laws.
Coal India: Production in September up 0.4% year-on-year to 40.7 MT versus 40.5 MT. Offtake up 3.6% year-on-year to 48.3 MT versus 46.7 MT.
Pfizer: The company has entered into a business transfer agreement with Mylan Pharmaceuticals to transfer certain primarily off-patent branded and generic established medicines business (Upjohn Business) as a going concern to Mylan for Rs 180.48 crore.
Tech Mahindra: The company through its subsidiary, Tech Mahindra GmbH, has approved the proposal to acquire 100% equity shares in Beris consulting GmbH for 7 million euros. The transaction is expected to be completed by October 8.
Future Group and Reliance Retail have extended deal timeline to March 2022. Reliance Retail Ventures has extended the timeline for Long Stop Date from September 30, 2021 to March 31, 2022.
Nestle India: The company's new factory at Sanand in Gujarat has commenced initial phase of production.
Ambuja Cement: The company has commenced commercial production of clinker and cement at its Marwar Greenfield Plant in Nagaur district of Rajasthan.
Emami: The company’s stake in Brillare Science has increase to 57.36% from 34.70% on conversion of CCPS into equity shares. Consequently, Brillare Science has become a subsidiary of the company.
Inox Wind: Board to meet on October 6 to consider proposals for raising funds.
NIIT: The company has acquired 70% stake in RPS Consulting to strengthen its training solutions in emerging digital technologies. The remaining 30% shareholding will be acquired by NIIT in subsequent tranches.
United Spirits: Shareholders and unsecured creditors have approved the scheme of amalgamation and arrangement amongst Pioneer Distilleries Ltd. and the company.
Sona BLW Precision Forgings: The company, through its subsidiary Sona Comstar eDrive Pvt Ltd, has executed a collaboration agreement with IRP Nexus Group, through the initiative of International Center for Entrepreneurship and Technology.
Aurobinda Pharma: Managing Director N Govindarajan has resigned from the post due to personal reasons. Govindarajan will be relieved from the services from the close of business on December 31.
EKI Energy Services: Appointed Mohit Agarwal as Chief Financial Officer of the company w.e.f. October 1.
Spandana Sphoorty Financial: The company’s Chief Financial Officer Satish Kottakota has resigned from the post w.e.f. October 1.
Grasim Industries: Deputy Commissioner of Income Tax has imposed a capital gain tax on the company of Rs 8,334 crore related to a sale of shares in group firm Aditya Birla Capital during tax assessment year 2018-19. The company said it will take appropriate action against the said order which it believes is against the spirit of tax laws.
Coal India: Production in September up 0.4% year-on-year to 40.7 MT versus 40.5 MT. Offtake up 3.6% year-on-year to 48.3 MT versus 46.7 MT.
Pfizer: The company has entered into a business transfer agreement with Mylan Pharmaceuticals to transfer certain primarily off-patent branded and generic established medicines business (Upjohn Business) as a going concern to Mylan for Rs 180.48 crore.
Tech Mahindra: The company through its subsidiary, Tech Mahindra GmbH, has approved the proposal to acquire 100% equity shares in Beris consulting GmbH for 7 million euros. The transaction is expected to be completed by October 8.
Future Group and Reliance Retail have extended deal timeline to March 2022. Reliance Retail Ventures has extended the timeline for Long Stop Date from September 30, 2021 to March 31, 2022.
Nestle India: The company's new factory at Sanand in Gujarat has commenced initial phase of production.
Ambuja Cement: The company has commenced commercial production of clinker and cement at its Marwar Greenfield Plant in Nagaur district of Rajasthan.
Emami: The company’s stake in Brillare Science has increase to 57.36% from 34.70% on conversion of CCPS into equity shares. Consequently, Brillare Science has become a subsidiary of the company.
Inox Wind: Board to meet on October 6 to consider proposals for raising funds.
NIIT: The company has acquired 70% stake in RPS Consulting to strengthen its training solutions in emerging digital technologies. The remaining 30% shareholding will be acquired by NIIT in subsequent tranches.
United Spirits: Shareholders and unsecured creditors have approved the scheme of amalgamation and arrangement amongst Pioneer Distilleries Ltd. and the company.
Sona BLW Precision Forgings: The company, through its subsidiary Sona Comstar eDrive Pvt Ltd, has executed a collaboration agreement with IRP Nexus Group, through the initiative of International Center for Entrepreneurship and Technology.
Aurobinda Pharma: Managing Director N Govindarajan has resigned from the post due to personal reasons. Govindarajan will be relieved from the services from the close of business on December 31.
EKI Energy Services: Appointed Mohit Agarwal as Chief Financial Officer of the company w.e.f. October 1.
Spandana Sphoorty Financial: The company’s Chief Financial Officer Satish Kottakota has resigned from the post w.e.f. October 1.
Stocks To Focus 05/10/2021
Adani Green: Founder Gautam Adani said that the conglomerate would invest a fresh $20 billion in its green value chain over the next decade. This would include funds for areas such as electrolyzer manufacturing, backward integration plans to secure the supply chain for solar and wind generation businesses, and AI-based industrial cloud platforms.
SREI Infrastructure Finance: RBI has superseded the boards of SREI Infra and SREI Equipment Finance with immediate effect due to governance concerns and defaults. The banking regulator appointed Rajneesh Sharma, former chief general manager from Bank of Baroda, as the administrator for both firms. RBI said it would now initiate insolvency proceedings against the NBFCs. SREI has said invoking insolvency will be unfair and lead to massive public loss.
Zee Entertainment Enterprises: Invesco Developing Markets Fund said at the National Company Law Tribunal that Zee's decision to reject EGM requisition was 'mala fide' and that their apprehensions about CEO Puneet Goenka had been proven right. The NCLT will continue the hearing on Tuesday.
JSW Energy: Company has signed a contract with Senvion India to procure 591 MW of wind turbines for its pipeline of renewable energy projects. Supply of the turbines will begin by the second half of 2022.
Vedanta: Aluminum production in the July-September period rose 4% quarter-on-quarter. Zinc mined metal output also climbed 4% while oil and gas output remained flat. Output of saleable steel rose 13% year-on-year.
ICICI Lombard General Insurance: Societe Beaujon, AXA Group's French investment holding company will sell 1.75 crore shares representing 3.8% stake. The price range is between Rs 1497.92 to Rs 1576.75 per share. BNP Paribas is appointed as the sole placement agent of the deal.
Aditya Birla Money: Market regulator SEBI has imposed a Rs 1 crore fine for violation of norms. According to SEBI's adjudication order, Aditya Birla Money did not have aduequate systems and internal controls to ensure due diligence in the conduct of its business with clients. In addition, it said that the stockbroker misled clients by understating losses and overstating profits.
HFCL: Company has a bagged a Rs 287.9 crore order from RailTel Corporation of India, a government-owned company, for setting up network infrastructure for the defense forces.
EID Parry India: Board approved the sale of plant and equipment of the sugar factory at Pettavaithalai, that is currently not operational. The board also approved an investment of Rs 19 crore in joint venture company Algavista Greentech Pvt. Ltd.
Rail Vikas Nigam: Company entered into a memorandum of understanding with Tata Steel Ltd. for implementation of infrastructure projects either on nomination basis or through special purpose vehicle route.
Mercator: Company disclosed that it has defaulted on loan and interest repayments worth Rs 1,011.4 crore. The total indebtedness of the company stood at Rs 1,327.3 crore as of Sept. 30.
M&M Financial Services: Total disbursement in September 2021 at Rs 1,900 crore, delivering 23% YoY growth. During Q2FY22, the total disbursement at circa Rs 6,450 crore (60% YoY growth over Q2 FY21). Company said that subject to improvement in auto supply chain, it is hopeful of good Q3, supported by festival season and harvest cashflow. Collection efficiency was reported at 100% for September 2021, resulting in further reduction in the NPA contracts during the month. Company enjoyed a comfortable liquidity position on its balance sheet as at September 30, 2021.
Adani Green: Founder Gautam Adani said that the conglomerate would invest a fresh $20 billion in its green value chain over the next decade. This would include funds for areas such as electrolyzer manufacturing, backward integration plans to secure the supply chain for solar and wind generation businesses, and AI-based industrial cloud platforms.
SREI Infrastructure Finance: RBI has superseded the boards of SREI Infra and SREI Equipment Finance with immediate effect due to governance concerns and defaults. The banking regulator appointed Rajneesh Sharma, former chief general manager from Bank of Baroda, as the administrator for both firms. RBI said it would now initiate insolvency proceedings against the NBFCs. SREI has said invoking insolvency will be unfair and lead to massive public loss.
Zee Entertainment Enterprises: Invesco Developing Markets Fund said at the National Company Law Tribunal that Zee's decision to reject EGM requisition was 'mala fide' and that their apprehensions about CEO Puneet Goenka had been proven right. The NCLT will continue the hearing on Tuesday.
JSW Energy: Company has signed a contract with Senvion India to procure 591 MW of wind turbines for its pipeline of renewable energy projects. Supply of the turbines will begin by the second half of 2022.
Vedanta: Aluminum production in the July-September period rose 4% quarter-on-quarter. Zinc mined metal output also climbed 4% while oil and gas output remained flat. Output of saleable steel rose 13% year-on-year.
ICICI Lombard General Insurance: Societe Beaujon, AXA Group's French investment holding company will sell 1.75 crore shares representing 3.8% stake. The price range is between Rs 1497.92 to Rs 1576.75 per share. BNP Paribas is appointed as the sole placement agent of the deal.
Aditya Birla Money: Market regulator SEBI has imposed a Rs 1 crore fine for violation of norms. According to SEBI's adjudication order, Aditya Birla Money did not have aduequate systems and internal controls to ensure due diligence in the conduct of its business with clients. In addition, it said that the stockbroker misled clients by understating losses and overstating profits.
HFCL: Company has a bagged a Rs 287.9 crore order from RailTel Corporation of India, a government-owned company, for setting up network infrastructure for the defense forces.
EID Parry India: Board approved the sale of plant and equipment of the sugar factory at Pettavaithalai, that is currently not operational. The board also approved an investment of Rs 19 crore in joint venture company Algavista Greentech Pvt. Ltd.
Rail Vikas Nigam: Company entered into a memorandum of understanding with Tata Steel Ltd. for implementation of infrastructure projects either on nomination basis or through special purpose vehicle route.
Mercator: Company disclosed that it has defaulted on loan and interest repayments worth Rs 1,011.4 crore. The total indebtedness of the company stood at Rs 1,327.3 crore as of Sept. 30.
M&M Financial Services: Total disbursement in September 2021 at Rs 1,900 crore, delivering 23% YoY growth. During Q2FY22, the total disbursement at circa Rs 6,450 crore (60% YoY growth over Q2 FY21). Company said that subject to improvement in auto supply chain, it is hopeful of good Q3, supported by festival season and harvest cashflow. Collection efficiency was reported at 100% for September 2021, resulting in further reduction in the NPA contracts during the month. Company enjoyed a comfortable liquidity position on its balance sheet as at September 30, 2021.
Stocks To Watch 06/10/2021
Godrej Consumer Products: The company expects to deliver high single-digit sales growth with another quarter of double-digit 2-year CAGR during July-September quarter. It expects operating margins to contract during the quarter driven by a lag between the rise in input costs and increase in end consumer pricing. India sales growth expected to be in double-digit during the second quarter, driven largely by volume growth and calibrated price increases.
Marico: The company expects modest profit growth, margin contraction in July-September quarter. Revenue growth was in low twenties as consumer sentiment was healthy across categories. India volume growth was close to double-digits on a 2-year CAGR basis. International business delivered double-digit constant currency growth, helped by positive trends in all markets but Vietnam.
Coal India: The company’s board has accorded in-principle approval to pre-feasibility report for setting up integrated greenfield aluminium project in Odisha and associated captive power plant by its subsidiary Mahanadi Coalfields.
Central Bank of India has entered into a co-lending partnership with IIFL Home Finance.
Phillips Carbon Black: The company closed its qualified institutional placement issue and raised Rs 400 crore by issuing over 1.63 crore equity shares to 20 qualified institutional buyers at Rs 244 per equity share.
Force Motors: The company’s total production in September stood at 2,159 units. It reported domestic sales of 1,968 units and exports of 272 units.
Canara Bank: The bank has reduced overnight and one-month MCLR by 0.15% and three-month, six-month and one-year MCLR by 0.10%.
Future Retail: The Master Franchise agreement executed between Future7-India Convenience, 7-Eleven INC, Future Corporate Resources and the company--for developing and operating 7-Eleven stores within India-- has been mutually terminated. The Future-7 was not able to meet the target of opening stores and payment of franchisee fees.
MTAR Technologies: CRISIL Ratings has upgraded long-term rating of company’s bank facilities to A-/Stable from BBB+/Positive and short-term rating to A2+ from A2.
Godrej Consumer Products: The company expects to deliver high single-digit sales growth with another quarter of double-digit 2-year CAGR during July-September quarter. It expects operating margins to contract during the quarter driven by a lag between the rise in input costs and increase in end consumer pricing. India sales growth expected to be in double-digit during the second quarter, driven largely by volume growth and calibrated price increases.
Marico: The company expects modest profit growth, margin contraction in July-September quarter. Revenue growth was in low twenties as consumer sentiment was healthy across categories. India volume growth was close to double-digits on a 2-year CAGR basis. International business delivered double-digit constant currency growth, helped by positive trends in all markets but Vietnam.
Coal India: The company’s board has accorded in-principle approval to pre-feasibility report for setting up integrated greenfield aluminium project in Odisha and associated captive power plant by its subsidiary Mahanadi Coalfields.
Central Bank of India has entered into a co-lending partnership with IIFL Home Finance.
Phillips Carbon Black: The company closed its qualified institutional placement issue and raised Rs 400 crore by issuing over 1.63 crore equity shares to 20 qualified institutional buyers at Rs 244 per equity share.
Force Motors: The company’s total production in September stood at 2,159 units. It reported domestic sales of 1,968 units and exports of 272 units.
Canara Bank: The bank has reduced overnight and one-month MCLR by 0.15% and three-month, six-month and one-year MCLR by 0.10%.
Future Retail: The Master Franchise agreement executed between Future7-India Convenience, 7-Eleven INC, Future Corporate Resources and the company--for developing and operating 7-Eleven stores within India-- has been mutually terminated. The Future-7 was not able to meet the target of opening stores and payment of franchisee fees.
MTAR Technologies: CRISIL Ratings has upgraded long-term rating of company’s bank facilities to A-/Stable from BBB+/Positive and short-term rating to A2+ from A2.