Stocks To Watch
• Adani Enterprises: Board to meet on May 5 to consider renewing enabling limit for raising funds by issue of equity shares, convertible bonds through QIP, GDR, ADR, FCCBs, FCEBs, convertible securities.
• Affle (India): Board has approved the opening of QIP of equity shares of face value of Rs 10 each from April 28. The floor price for the issue is Rs 5,422.94 per equity share. Further, a meeting of the Fund Raising Committee will be held on or after May 4 to consider and approve the issue price.
• Dishman Carbogen Amcis: The company’s wholly-owned subsidiary, Carbogen Amcis AG., Switzerland has entered into a co-investment agreement of more than CHF 15 million with a Japan-based key client to build a site extension at its Bubendorf site in Switzerland.
• Indiamart Intermesh: The company through its wholly-owned subsidiary, Tradezeal Online, will acquire 26% of the share capital of Shipway Technology, and 3.02% of the share capital of Truckhall in addition to 22% of the share capital already held by it. The wholly-owned subsidiary will acquire 100 shares and 4,088 Compulsorily Convertible Preference Shares of Shipway Technology at Rs 18.20 crore and will purchase 1,779 shares of Truckhall for Rs 1.33 crore.
• ONGC: Intends to invite foreign companies as strategic partners to explore new areas, and develop discovered fields in India. The company is aggressively pursuing deepwater, shallow water projects on the east and west coast, despite uneconomical gas prices. It plans to acquire much larger acreage through new auction rounds. ONGC has formed separate gas vertical to increase activities in the gas sector and is also augmenting its renewable portfolio. The company wants to concentrate on areas where the expected risk-reward payoff offers better business opportunities for growth. Further, the ONGC Videsh consortium has put the LNG project in Mozambique on hold due to force majeure.
• RattanIndia: To invest Rs 150 crore in electric vehicle maker Revolt Intellicorp. The company has acquired a 33.3% stake in Revolt and will see its stake increasing to 43% after the conversion of warrants. Revolt, which makes electric motorcycles, will deploy the capital to expand the distributor and service network across 35 cities in India. As part of the deal, RattanIndia will have a 50% board presence in Revolt Intellicorp; its Chairman Rajiv Rattan will be the chairman of the board of Revolt. The deal is likely to be completed in 18 months.
Non-Nifty Earnings: Ambuja Cements, Zensar Technologies, AAVAS Financiers, Aptech, Agro Tech Foods, AU Small Finance Bank, Bajaj Holdings & Investment, Cigniti Technologies, Coromandel International, Dalmia Bharat, Embassy Office Parks REIT, Equitas Small Finance Bank, Exide Industries, Indiamart Intermesh, Inox Leisure, Kirloskar Pneumatic Co, L&T Finance Holdings, Laurus Labs, Mahindra CIE Automotive, Mahindra Logistics, Motilal Oswal Financial Services, Persistent Systems, Rain Industries, Shriram Transport Finance Co, Sterlite Technologies, Tata Coffee
• Adani Enterprises: Board to meet on May 5 to consider renewing enabling limit for raising funds by issue of equity shares, convertible bonds through QIP, GDR, ADR, FCCBs, FCEBs, convertible securities.
• Affle (India): Board has approved the opening of QIP of equity shares of face value of Rs 10 each from April 28. The floor price for the issue is Rs 5,422.94 per equity share. Further, a meeting of the Fund Raising Committee will be held on or after May 4 to consider and approve the issue price.
• Dishman Carbogen Amcis: The company’s wholly-owned subsidiary, Carbogen Amcis AG., Switzerland has entered into a co-investment agreement of more than CHF 15 million with a Japan-based key client to build a site extension at its Bubendorf site in Switzerland.
• Indiamart Intermesh: The company through its wholly-owned subsidiary, Tradezeal Online, will acquire 26% of the share capital of Shipway Technology, and 3.02% of the share capital of Truckhall in addition to 22% of the share capital already held by it. The wholly-owned subsidiary will acquire 100 shares and 4,088 Compulsorily Convertible Preference Shares of Shipway Technology at Rs 18.20 crore and will purchase 1,779 shares of Truckhall for Rs 1.33 crore.
• ONGC: Intends to invite foreign companies as strategic partners to explore new areas, and develop discovered fields in India. The company is aggressively pursuing deepwater, shallow water projects on the east and west coast, despite uneconomical gas prices. It plans to acquire much larger acreage through new auction rounds. ONGC has formed separate gas vertical to increase activities in the gas sector and is also augmenting its renewable portfolio. The company wants to concentrate on areas where the expected risk-reward payoff offers better business opportunities for growth. Further, the ONGC Videsh consortium has put the LNG project in Mozambique on hold due to force majeure.
• RattanIndia: To invest Rs 150 crore in electric vehicle maker Revolt Intellicorp. The company has acquired a 33.3% stake in Revolt and will see its stake increasing to 43% after the conversion of warrants. Revolt, which makes electric motorcycles, will deploy the capital to expand the distributor and service network across 35 cities in India. As part of the deal, RattanIndia will have a 50% board presence in Revolt Intellicorp; its Chairman Rajiv Rattan will be the chairman of the board of Revolt. The deal is likely to be completed in 18 months.
Non-Nifty Earnings: Ambuja Cements, Zensar Technologies, AAVAS Financiers, Aptech, Agro Tech Foods, AU Small Finance Bank, Bajaj Holdings & Investment, Cigniti Technologies, Coromandel International, Dalmia Bharat, Embassy Office Parks REIT, Equitas Small Finance Bank, Exide Industries, Indiamart Intermesh, Inox Leisure, Kirloskar Pneumatic Co, L&T Finance Holdings, Laurus Labs, Mahindra CIE Automotive, Mahindra Logistics, Motilal Oswal Financial Services, Persistent Systems, Rain Industries, Shriram Transport Finance Co, Sterlite Technologies, Tata Coffee
FULL LOCKDOWN ANNOUNCED IN UTTAR PRADESH FROM APRIL 30 EVENING TILL MAY 4, 7 AM
Inox Leisure Q4 (Consolidated, YoY)
*Net loss at Rs 121 cr Vs loss of Rs 20.6 cr
*Revenue down 75.7% at Rs 90.4 cr Vs Rs 371.6 cr
*EBITDA loss at Rs 13.8 cr vs EBITDA of Rs 110 cr
*Net loss at Rs 121 cr Vs loss of Rs 20.6 cr
*Revenue down 75.7% at Rs 90.4 cr Vs Rs 371.6 cr
*EBITDA loss at Rs 13.8 cr vs EBITDA of Rs 110 cr
Stocks To Watch
• Dr. Reddy's Laboratories: Has launched Albendazole Tablets, USP--a therapeutic equivalent generic version of Albenza Tablets, 200 mg--in the U.S. market
• Ujjivan Financial Services: A special resolution to appoint Samit Ghosh as CEO of Ujjivan Financial Services Ltd. as it didn’t get the requisite share of votes. According to details available on the stock exchange, the proposal for appointment Ghosh only received 70.5% votes in favour. Since this was a special resolution, it needs 75% votes in favour to be passed. Ghosh, the founder of Ujjivan, is currently non-executive chairman. A special resolution to reappoint Abhijit Sen as an independent director for a period of five years was also defeated with 30% of shareholders rejecting the proposal.
•** HDFC Bank:** Has appointed Atanu Chakraborty as part-time Chairperson and Additional Independent Director on the board of the bank, subject to the approval of the shareholders, for a period of three years, with effect from May 5.
•Manappuram Finance: The company is considering various options for raising funds through borrowings including by the way of issuance of debt securities in onshore and offshore securities market by public issue, on a private placement basis or through issuing commercial papers. The Board of Directors may consider and approve issuances of debt securities in May.
• Wipro: Has partnered with Citrix and Hewlett Packard Enterprise to accelerate remote working solutions and bring modernisation into workspaces.
• Union Bank of India: Board has approved the extension of validity of the bank's FY21 capital raising plan till July 31, 2021.
• Nifty Earnings: Reliance Industries, IndusInd Bank
• Non-Nifty Earnings: Accelya Solutions India, Ajanta Pharma, Astec Lifesciences, Atul, Can Fin Homes, Indian Hotels Co, Marico, RPG Life Sciences, Shriram City Union Finance, Supreme Petrochem, Trent, Yes Bank
• Dr. Reddy's Laboratories: Has launched Albendazole Tablets, USP--a therapeutic equivalent generic version of Albenza Tablets, 200 mg--in the U.S. market
• Ujjivan Financial Services: A special resolution to appoint Samit Ghosh as CEO of Ujjivan Financial Services Ltd. as it didn’t get the requisite share of votes. According to details available on the stock exchange, the proposal for appointment Ghosh only received 70.5% votes in favour. Since this was a special resolution, it needs 75% votes in favour to be passed. Ghosh, the founder of Ujjivan, is currently non-executive chairman. A special resolution to reappoint Abhijit Sen as an independent director for a period of five years was also defeated with 30% of shareholders rejecting the proposal.
•** HDFC Bank:** Has appointed Atanu Chakraborty as part-time Chairperson and Additional Independent Director on the board of the bank, subject to the approval of the shareholders, for a period of three years, with effect from May 5.
•Manappuram Finance: The company is considering various options for raising funds through borrowings including by the way of issuance of debt securities in onshore and offshore securities market by public issue, on a private placement basis or through issuing commercial papers. The Board of Directors may consider and approve issuances of debt securities in May.
• Wipro: Has partnered with Citrix and Hewlett Packard Enterprise to accelerate remote working solutions and bring modernisation into workspaces.
• Union Bank of India: Board has approved the extension of validity of the bank's FY21 capital raising plan till July 31, 2021.
• Nifty Earnings: Reliance Industries, IndusInd Bank
• Non-Nifty Earnings: Accelya Solutions India, Ajanta Pharma, Astec Lifesciences, Atul, Can Fin Homes, Indian Hotels Co, Marico, RPG Life Sciences, Shriram City Union Finance, Supreme Petrochem, Trent, Yes Bank
INDUSIND BANK Q4 : Net Profit Up 218 % to Rs 926 cr (YOY)
NII Up 9 % to Rs 3535 cr
Gross NPA up to 2.67 % from 1.74 % (QOQ)
Net NPA up to 0.69 % from 0.22 % (QOQ)
Provisions up 0.5 % to Rs 1866 cr (QOQ)
NII Up 9 % to Rs 3535 cr
Gross NPA up to 2.67 % from 1.74 % (QOQ)
Net NPA up to 0.69 % from 0.22 % (QOQ)
Provisions up 0.5 % to Rs 1866 cr (QOQ)
IPCA LABORATORIES:
CO HAS SUBSCRIBED TO PARTNERSHIP INTEREST IN ABCD TECHNOLOGIES
CO TO INVEST 250M RUPEES FOR 4.03% SHARE IN ABCD TECHNOLOGIES
GLENMARK PHARMA:
CO HAS ENTERED INTO AN AGREEMENT TO BECOME A PARTNER IN ABCD TECHNOLOGIES
CO TO INVEST 400M RUPEES FOR 6.45% SHARE IN ABCD TECHNOLOGIES
CO HAS SUBSCRIBED TO PARTNERSHIP INTEREST IN ABCD TECHNOLOGIES
CO TO INVEST 250M RUPEES FOR 4.03% SHARE IN ABCD TECHNOLOGIES
GLENMARK PHARMA:
CO HAS ENTERED INTO AN AGREEMENT TO BECOME A PARTNER IN ABCD TECHNOLOGIES
CO TO INVEST 400M RUPEES FOR 6.45% SHARE IN ABCD TECHNOLOGIES
BANK OF INDIA: Board Approves Rs 4800 cr fund raising via FPO , QIP OR bonds.
This fund raisng is subject to shareholder approval
This fund raisng is subject to shareholder approval
*Foreign Institutional Investors are net sellers this week..
*Whereas Domestic Institutions like mutual funds and insurance companies are net buyers this week..
*Whereas Domestic Institutions like mutual funds and insurance companies are net buyers this week..
Mahindra Auto Division registers 9.5% growth in Passenger Vehicles in April 2021 over previous month
JSW Steel Ltd updates on acquisition of business from Welspun Corp Ltd
JSW Steel Limited had earlier announced about the acquisition from Welspun Corp Limited ("Welspun"), on a slump sale basis, the business of manufacturing of high-grade steel plates and coils, and that the consideration shall be paid on a deferred basis.
An amount of INR 225,00,00,000/- (Rupees Two Hundred and Twenty Five Crores only) has been paid to Welspun as on April 30, 2021. The balance consideration, which is subject to closing adjustments towards net working capital, shall be paid on a deferred basis, subject to Welspun fulfilling certain regulatory approvals and payment milestones as provided under the Business Transfer Agreement dated March 31, 2019, as amended from time to time.
Atul Auto Ltd posts sales of 915 units in April 2021
Texel Industries Ltd board to consider rights issue on May 8, 2021
ZEN Technologies Ltd Board approves dividend of Rs. 0.10
CDSL board recommends final dividend of Rs. 9
Somany Ceramics Limited invests Rs. 14 lakhs in Somany Piastrelle Private Limited
Reliance Power Limited board to announce Q4, FY21 results on May 7, 2021
HFCL Ltd board to consider Q4, FY21 results on May 10, 2021
JMC Projects (India) Ltd board to consider FY21 results on May 10, 2021
JSW Steel Ltd updates on acquisition of business from Welspun Corp Ltd
JSW Steel Limited had earlier announced about the acquisition from Welspun Corp Limited ("Welspun"), on a slump sale basis, the business of manufacturing of high-grade steel plates and coils, and that the consideration shall be paid on a deferred basis.
An amount of INR 225,00,00,000/- (Rupees Two Hundred and Twenty Five Crores only) has been paid to Welspun as on April 30, 2021. The balance consideration, which is subject to closing adjustments towards net working capital, shall be paid on a deferred basis, subject to Welspun fulfilling certain regulatory approvals and payment milestones as provided under the Business Transfer Agreement dated March 31, 2019, as amended from time to time.
Atul Auto Ltd posts sales of 915 units in April 2021
Texel Industries Ltd board to consider rights issue on May 8, 2021
ZEN Technologies Ltd Board approves dividend of Rs. 0.10
CDSL board recommends final dividend of Rs. 9
Somany Ceramics Limited invests Rs. 14 lakhs in Somany Piastrelle Private Limited
Reliance Power Limited board to announce Q4, FY21 results on May 7, 2021
HFCL Ltd board to consider Q4, FY21 results on May 10, 2021
JMC Projects (India) Ltd board to consider FY21 results on May 10, 2021
STOCKS TO WATCH
• Hero MotoCorp: To extend the shutdown at its manufacturing facilities across India, global parts Center & R&D facility in Jaipur till May 9. The plant operations to resume on May 10.
• Mahindra & Mahindra: To increase its stake in Meru Travel Solutions to 100%. M&M will acquire 44.14% shares from private equity investors, True North, Bennett Coleman & Co and former Meru cabs CEO, Nilesh Sangoi, for Rs 76.03 crore and 12.66% shares from Neeraj Gupta and Farhat Gupta for Rs 21.63 crore. With this, M&M will enhance its current shareholding in Meru from 43.20% to 100%. Further, Pravin shah, former President at M&M’s automotive division to take over as CEO of Meru and its subsidiaries from May 1.
• HDFC Bank: Has announced a new business structure under Sashidhar Jagdishan as MD & CEO. The bank will reorganise itself into three areas: business verticals, delivery channels and technology/digital. It will increase focus on MSME business and will continue to invest in all its delivery channels.
• DCB Bank: Has acquired equity stake in India INX and India ICC. The bank has invested Rs 5 crore each in the two companies. India INX and India ICC are promoted by BSE and are the leading exchange and clearing corporation in the GIFT City IFSC at Gandhinagar.
• Bank of India: Board has approved raising up to Rs 4,800 crore capital. The bank will raise Rs 3,000 crore by issuance of fresh equity capital in the form of FPO/QIP/Basel Ill Compliant Additional Tier-1 bonds (domestic and foreign currency) and Rs 1,800 crore via Basel III compliant Tier-2 bonds.
• NLC India: Board has approved the proposal for issuance of bonds in the nature of debentures of up to Rs 5,000 crore in tranches.
• MOIL: Has cut manganese ore prices by about 5% across all grades with effect from May 1.
• Rashtriya Chemicals and Fertilizers: Has appointed Crawford Bayley along with its International consortium partner Squire Patton Boggs Singapore LLP as legal advisers for disinvestment of 10% paid-up equity capital, out of the Government of India’s shareholding, through offer for sale.
• Coal India: Production in April up 3.7% year-on-year to 41.9 MT while Offtake rose 38.4% year-on-year to 54.1 MT.
• Titan Company: Has incorporated TCL North America Inc. as its wholly-owned subsidiary in the State of Delaware, the USA for $300,000. TCL North America Inc. will carry on the business of jewellery retailing.
• Ajanta Pharma, Ipca Laboratories, Alembic Pharmaceuticals and Glenmark Pharmaceuticals have subscribed to partnership interest in ABCD Technologies (to be renamed as IndoHealth Services LLP). Ajanta Pharma and Ipca Laboratories will invest Rs 25 crore each for a 4.03% share in ABCD Technologies and Glenmark Pharmaceuticals and Alembic Pharmaceuticals will invest Rs 40 crore each for a 6.45% share.
• Parag Milk Foods: Board has approved the opening of the issue of Foreign Currency Convertible Bonds, aggregating up to $11 million, on April 30. The conversion price of the FCCBs is Rs 145 per share and the floor price is Rs 111.27.
• Nifty Earnings: SBI Life Insurance Company, Kotak Mahindra Bank
• Non-Nifty Earnings: Godrej Properties, L&T Technology Services, IDBI Bank, Tata Chemicals, Apollo Tricoat Tubes, Home First Finance Company India, Mahindra Holidays & Resorts India, Supreme Industries, Varun Beverages
• Hero MotoCorp: To extend the shutdown at its manufacturing facilities across India, global parts Center & R&D facility in Jaipur till May 9. The plant operations to resume on May 10.
• Mahindra & Mahindra: To increase its stake in Meru Travel Solutions to 100%. M&M will acquire 44.14% shares from private equity investors, True North, Bennett Coleman & Co and former Meru cabs CEO, Nilesh Sangoi, for Rs 76.03 crore and 12.66% shares from Neeraj Gupta and Farhat Gupta for Rs 21.63 crore. With this, M&M will enhance its current shareholding in Meru from 43.20% to 100%. Further, Pravin shah, former President at M&M’s automotive division to take over as CEO of Meru and its subsidiaries from May 1.
• HDFC Bank: Has announced a new business structure under Sashidhar Jagdishan as MD & CEO. The bank will reorganise itself into three areas: business verticals, delivery channels and technology/digital. It will increase focus on MSME business and will continue to invest in all its delivery channels.
• DCB Bank: Has acquired equity stake in India INX and India ICC. The bank has invested Rs 5 crore each in the two companies. India INX and India ICC are promoted by BSE and are the leading exchange and clearing corporation in the GIFT City IFSC at Gandhinagar.
• Bank of India: Board has approved raising up to Rs 4,800 crore capital. The bank will raise Rs 3,000 crore by issuance of fresh equity capital in the form of FPO/QIP/Basel Ill Compliant Additional Tier-1 bonds (domestic and foreign currency) and Rs 1,800 crore via Basel III compliant Tier-2 bonds.
• NLC India: Board has approved the proposal for issuance of bonds in the nature of debentures of up to Rs 5,000 crore in tranches.
• MOIL: Has cut manganese ore prices by about 5% across all grades with effect from May 1.
• Rashtriya Chemicals and Fertilizers: Has appointed Crawford Bayley along with its International consortium partner Squire Patton Boggs Singapore LLP as legal advisers for disinvestment of 10% paid-up equity capital, out of the Government of India’s shareholding, through offer for sale.
• Coal India: Production in April up 3.7% year-on-year to 41.9 MT while Offtake rose 38.4% year-on-year to 54.1 MT.
• Titan Company: Has incorporated TCL North America Inc. as its wholly-owned subsidiary in the State of Delaware, the USA for $300,000. TCL North America Inc. will carry on the business of jewellery retailing.
• Ajanta Pharma, Ipca Laboratories, Alembic Pharmaceuticals and Glenmark Pharmaceuticals have subscribed to partnership interest in ABCD Technologies (to be renamed as IndoHealth Services LLP). Ajanta Pharma and Ipca Laboratories will invest Rs 25 crore each for a 4.03% share in ABCD Technologies and Glenmark Pharmaceuticals and Alembic Pharmaceuticals will invest Rs 40 crore each for a 6.45% share.
• Parag Milk Foods: Board has approved the opening of the issue of Foreign Currency Convertible Bonds, aggregating up to $11 million, on April 30. The conversion price of the FCCBs is Rs 145 per share and the floor price is Rs 111.27.
• Nifty Earnings: SBI Life Insurance Company, Kotak Mahindra Bank
• Non-Nifty Earnings: Godrej Properties, L&T Technology Services, IDBI Bank, Tata Chemicals, Apollo Tricoat Tubes, Home First Finance Company India, Mahindra Holidays & Resorts India, Supreme Industries, Varun Beverages
P&G HYGIENE AND HEALTH CARE:
Q4 SL NET PROFIT 983.3M RUPEES VS 911M (YOY); EST 1.5B | 2.51B (QOQ)
Q4 REVENUE 7.6B RUPEES VS 6.56B (YOY)
CO DECLARED A SPECIAL INTERIM DIVIDEND OF 150 RUPEES PER SHARE
Q4 SL NET PROFIT 983.3M RUPEES VS 911M (YOY); EST 1.5B | 2.51B (QOQ)
Q4 REVENUE 7.6B RUPEES VS 6.56B (YOY)
CO DECLARED A SPECIAL INTERIM DIVIDEND OF 150 RUPEES PER SHARE