*CALCULUS DERIVATIVES CORNER*

8 AM.

*Market Summary*:

• Nifty April Futures ended Monday’s session at a premium of +02 vs discount of -07.

• The 29th April expiry Put-Call Open Interest Ratio was at 1.24 for Nifty whereas it was 1.14 for Bank Nifty.

• The 29th April expiry Put-Call Volume Ratio was at 0.98 for the Nifty and 0.92 for Bank Nifty.

• For Nifty, Maximum Call Open Interest (OI) stands at 15000 Strike Price, followed by 14900 Strike Price for 29th April Series. Short buildup was seen at strike prices 14900-15100.

• Maximum Put Open Interest (OI) was seen at strike price 14000 followed by 13500 strike prices for 29th April series. Short buildup was seen at strike prices 13700-14500.

• For Bank Nifty, Maximum Call Open Interest (OI) stands at 33000 Strike Price and Maximum Put Open Interest stands at 30000 Strike Price.

• As per Monday’s Provisional Data available on the NSE, FIIs sold shares worth Rs. 1111.89 crores in the Indian Equity Market. DIIs on the other hand bought shares worth Rs. 1022.57 crores in the Indian Equity market.


• Long Buildup: TATASTEEL, ICICIBANK, AXISBANK.

• Short Buildup: HCLTECH, M&MFIN, L&TFH, SRTRANSFIN.

• Short Covering: FEDERALBANK, NMDC, AMBUJACEM, ULTRATECH.

• Long Unwinding: SUNPHARMA, CIPLA, MARICO, BIOCON.

• Stocks banned in F&O segment: IBULHSGFIN, SAIL, SUNTV.

• New in Ban: SAIL.

• Out of Ban: NIL.


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*Blackstone Seeks Control of MPhasis for Up to $2.8 Billion*

(Bloomberg) -- Blackstone Group Inc. offered to take a controlling stake in Indian IT outsourcing services provider Mphasis Ltd. in a deal worth as much as $2.8 billion, as demand for cloud computing surges amid the pandemic.

Funds managed by Blackstone Capital Partners VIII and Blackstone Capital Partners Asia have teamed up with long-term investors including Abu Dhabi Investment Authority and UC Investments to take a majority stake in Mphasis, the private equity firm said in a statement on Monday. They’re buying a 55.31% stake from Blackstone Capital Partners VI fund.

That agreement triggered an open offer for an additional 26% stake in the Indian firm at 1,677.16 rupees apiece, which amounts to as much as 82.6 billion rupees ($1.1 billion). The offer price is a 1.1% discount to the closing share price on Friday. The stock gained as much as 6.5% in Mumbai after the offer.

Blackstone’s move to increase its stake in Mphasis is in sync with the U.S. asset manager’s plans to boost investment in the South Asian nation. India is the strongest performer in the world for Blackstone and the firm intends to continue deploying large investments in the nation, Blackstone Chief Executive Officer and co-founder Stephen Schwarzman said during his visit to Mumbai in 2020.

This investment enables us to continue creating value for the long term and provide additional resources to further accelerate the company’s growth momentum,” Amit Dixit, head of India for Blackstone private equity, said in the statement. Mphasis specializes in providing cloud and digital solutions and serves 35 of the top 50 U.S. banking, financial services and insurance firms, according to the statement.

Following the completion of the transactions, Blackstone is aiming to build MPhasis into a company worth $10 billion over the next four years, more than double its current valuation of about $4.4 billion, according to a person familiar with the matter, who asked not to be identified discussing internal targets. A representative for Blackstone declined to comment.

Blackstone had purchased a majority stake in Mphasis in 2016 from Hewlett Packard Enterprise Co., paying 430 rupees per share at the time. https://t.me/marketswizard

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Bank of Maharashtra: The board will consider raising capital either through a follow-on public offer, rights issue, qualified institutional placement, preferential issue or a combination of these or through issuing Basel III bonds . The board will meet on April 29 to consider the proposal.

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SAIL: The Bhilai steel mill will undertake a short shutdown to boost liquid oxygen supply in the country. The company said the closure will boost oxygen supply by 15 tonnes and will not affect dispatches. The steel ministry has also issued similar directives to other government-owned mills. (Bloomberg) Neutral

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JSPL has accepted the biding offer from worldone a pvt company to divest its 96.4% stake in JPL for a consideration of Rs 8000cr
The deal is valued at c.Rs 24mn per MW and 6x FY21 EV/EBITDA,JPL has net debt of c.Rs 6532cr and this divestment will surely help it to predate its debt target o Rs 15000cr.

*Positive*

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DR REDDYS: SPUTNIK V VACCINE FIRST BATCH TO ARRIVE ON MAY 1


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*Gateway Distriparks Ltd.* | *CMP* Rs. 179 | *M Cap* Rs. 2235 Cr | *52 W H/L* 189/70
(Nirmal Bang Retail Research)
*Result improved*
Revenue from Operations came at Rs. 350.3 Cr (11.6% QoQ, 17.1% YoY) vs QoQ Rs. 313.8 Cr, YoY Rs. 299.1 Cr
EBIDTA came at Rs. 95.3 Cr (15.4% QoQ, 48% YoY) vs QoQ Rs. 82.6 Cr, YoY Rs. 64.4 Cr
EBITDA Margin came at 27.2% vs QoQ 26.3%, YoY 21.5%
Adj. PAT came at Rs. 46.1 Cr vs QoQ Rs. 32.7 Cr, YoY Rs. 11.1 Cr
Quarter EPS is Rs. 3.7
Share is trading at P/E of 24.1x FY22E EPS

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