Market Wizard

Stocks To Watch

Adani Ports & SEZ: To abandon the Myanmar project if the office of foreign assets control classifies Myanmar as a sanctioned country, or if OFAC says that the project violates the current sanctions. Write-down to not materially impact APSEZ as it is equivalent to 1.3% of the total assets. Adani has so far invested around $127 million in the project.

SBI Cards and Payment Services:Plans to raise up to Rs 4.55 billion (Rs 455 crore) via NCD issue.

Department of Telecommunications gave Bharti Airtel, Reliance Jio, Vodafone Idea and MTNL permission to conduct trials for use and application of 5G technology. The trial duration will be six months, including a two-month period for procurement and setting up of equipment. The operators have tied up with network equipment makers such as Ericsson, Nokia Corp., Samsung Telecommunications, and India’s Centre for Development of Telematics. Reliance JioInfocomm Ltd. will also be conducting trials using its indigenous technology.

Godrej Properties: Sees the second wave of Covid-19 pandemic impacting sales and construction of projects in the April-June period, but the slowdown is not likely to be as intense as last year, Executive Chairman Pirojsha Godrej said in a post-earnings investor call. The company saw a 25% loss of labour following the second wave. Further, the funds raised via a recent QIP issue are likely to be deployed in FY22 and FY23 for land and project acquisition opportunities, Godrej said.

Wipro: To set up an innovation centre in Holborn, London. The company will invest £16 million over the next four years in the 20,000 sq. ft. innovation centre which will serve as Wipro’s flagship centre in the United Kingdom and offer technology expertise to companies in the U.K. and globally. The centre will be integral to providing advanced digital, cybersecurity and cloud expertise to both established and upcoming enterprises.

HDFC: Sold part of pledged shares in Reliance Infrastructure. The company sold 52.88 lakh shares, representing 2.01% of the share capital, of Reliance Infra for Rs 22.86 crore between March 24 and May 3.

InterGlobe Aviation: Board to meet on May 7 to consider raising funds by issue of equity shares through QIP.

Hindustan Aeronautics: Has signed a memorandum of understanding with Rolls-Royce to establish packaging, installation, marketing and services support for Rolls-Royce MT30 marine engines in India.

Affle (India): Approved closure of QIP on May 4 and issue a price of Rs 5,200 per share for 11.53 lakh shares to be allotted to the eligible QIBs. The issue price is at a discount of 4.11% to the floor price of Rs 5,422.94 per share.

Nifty Earnings: Tata Steel

Non-Nifty Earnings: Adani Enterprises, Adani Green Energy, Angel Broking, Blue Dart Express, Ceat, Craftsman Automation,Deepak Nitrite, Gillette India, JM Financial, Kirloskar Ferrous Industries, Maithan Alloys, Oracle Financial Services Software, ABB Power Products and Systems India, Shalby

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