Stocks Tips For Today: JSW Steel, Biocon, HPCL, Adani Transmission

Stocks Tips For Today: Indian equities staged a rebound from their lowest level in nearly two months on Friday. The S&P BSE Sensex ended 1.2% higher at 49,008 while the NSE Nifty 50 index rose 1.3% to close at 14,507. However, Friday’s gains were not enough to prevent the benchmark indices from posting their second straight weekly loss.

For the week, the Sensex fell 1.7% while the Nifty reported losses of 1.6%.

Asian equities have opened mixed this morning with Japanese markets declining while those in South Korea and Australia edging higher.

Stocks Tips For Today: –

  • JSW Steel: Implements resolution plan for Bhushan Power & Steel. A sum of Rs 8,614 crore was arranged in a wholly-owned subsidiary through a mix of equity, optionally convertible instruments to JSW Steel and JSW Shiping & Logistics Pvt. Ltd. and the debt availed by PSL funds.
  • Adani Transmission: Signs definitive agreement with Essel Infraprojects for acquisition of Warara-Kurnool Transmission Ltd. The acquisition will be done for a cash consideration of Rs 3,370 crore. The asset will take the company closer to its target of setting up 20,000 circuit kilometers of transmission lines by 2022.
  • JSW Energy Stocks Tips For Today: Board has approved a proposal for issuance of green bonds by JSW Hydro Energy, the company’s material subsidiary, for raising $750 million from international markets. The funds will be raised through issuance of non-convertible, senior, secured, fixed rate green bonds in the international markets, subject to market conditions and receipt of necessary approvals by JSWHEL.
  • Biocon: Partners with Libbs Farmaceutica to launch generic formulations in Brazil. As part of the out-licensing deal, Biocon will be responsible for drug development and manufacturing while Libbs will leverage its deep expertise and reach in Brazil to import, distribute and market, subject to approval from the country’s regulatory agency.
  • HPCL: Entered into a Share Purchase Agreement for acquisition of shares of HPCL Shapoorji Energy Pvt. Ltd., an associate unlisted company of HPCL from SP Ports Pvt. Ltd., a JV partner. The consideration for the transaction will be paid in cash and is expected to be completed by March 31, 2021. HPCL Shapoorji Energy is in the process of setting and development of 5 MMTPA LNG storage and regasification terminal at Chhara in Gujarat.
  • Minda Industries: Approves expansion of Balwal Plant capacity to 1.8 lakh wheels per month from 1.2 lakh wheels per month. The fresh investment approved for the same is Rs 167 crore and the expanded production is likely to commence from January 1, 2022. The board has also approved investment to set up a new project for four-wheel lighting in Gujarat for Rs 89.69 crore. The project is expected to be commissioned in January 2022.
  • India Grid Trust: Has completed acquisition of 49% paid-up capital and management control of the NER II Transmission from Sterlite Grid 4 at the cost of Rs 4,625 crore. The remaining stake will be acquired in one or more tranches. The acquisition has increased IndiGrid’s AUM by ~34% to Rs 20,000 crore. The acquisition has also added Rs 40-45 crore per annum to the net distributable cash flow.
  • Mazagon Dock Stocks Tips For Today : The company’s order book stood at Rs 50,705 crore as of January 31, 2021. Further the company has won order for repair of two Indian Coast Guard Fast Patrol vessels namely ICGS Achook and ICGS SB Phule. The repair order is worth around Rs 7 crore.
  • Lumax Industries: Board has approved Capital Expenditure of Rs 80 crore for setting up new manufacturing unit in Sanand, Gujarat to cater to the orders received from MG Motors and other customers. Further, the company will set up an office in Czech Republic to strengthen its technological capabilities.
  • Bliss GVS Pharma: High Court of Justice, Ghana has granted ex-parte interim relief to the company in a commercial suit for infringement of intellectual property rights and the Registrar has been ordered to seize the infringing products.
  • Shriram City Union Finance: Board has declared second interim dividend of Rs 10 for FY21. The record date for the same is April 7.
  • Adani EnterpriseA wholly-owned subsidiary of the company, Adani Road Transport, has incorporated a wholly owned subsidiary called PRS Tolls. The company will act as a Special Purpose Vehicle for implementation of the road project to be awarded by NHAI.
  • PNC Infratech: Has approved divestment of its entire stake of 35% in Ghaziabad Aligarh Expressway, an associate of the company to Cube Highways and Infrastructure PTE.
  • South Indian Bank: The RBI has given final approval for setting up of Wholly-Owned Non-Financial Subsidiary for undertaking activities permitted by the central bank.
  • NBCC: Has awarded the work for redevelopment of Netaji Nagar in New Delhi on an EPC basis including operation and maintenance to NKG Infra for at Rs 1,356 crore.

Pledge Share Details

  • Adani Ports & SEZ: Promoter Group revoked pledge of 9.80 lakh shares on March 25.
  • Apollo Tyres: Promoters Apollo Finance and Sunrays Properties and Investments Company revoked pledge of 98.83 lakh shares between March 22-25.
  • Aurobindo Pharma: Promoters created a pledge of 23.80 lakh shares between March 23-25.
  • Chambal Fertilisers & Chemicals: Promoter Zuari Global created a pledge of 60 lakh shares on March 24.
  • Emami: Promoter Sneha Gardens revoked pledge of 5 lakh shares on March 23. Promoter Sneha Enclave created a pledge of 7.90 lakh shares on March 24.
  • Gayatri Projects: Promoter T Reddy invoked pledge of 5 lakh shares on March 23.
  • Jindal Steel & Power: Promoter Siddeshwari Tradex revoked pledge of 15.50 lakh shares on March 24.
  • Max Financial Services: Promoter Max Ventures Investment Holdings created a pledge of 19.70 lakh shares on March 24.
  • Wockhardt: Promoter Themisto Trustee Company created a pledge of 10.50 lakh shares between March 23-26.

As reported on March 26.

Who’s Meeting Whom

  • JSW Steel Stocks Tips For Today: To meet Systematix Group on March 30.
  • Mahindra & Mahindra: To meet Premji Invest on March 30.
  • Crompton Greaves Consumer Electricals: To meet Quantum Advisors and Avendus Capital on March 30 and Invesco Funds on March 31.

Trading Tweaks

  • Ex-Date AGM: CRISIL, ACC
  • Ex-Date Buyback: Aarti Drugs
  • Ex-Date Rights Issue: KDDL
  • Ex-Date Final Dividend: CRISIL, ACC
  • Ex-Date Interim Dividend: Sundaram Clayton, Colgate Palmolive (India), TVS Motor Company
  • Ex-Date Bonus Issue: East West Holdings
  • Ex-Date Stock Split: East West Holdings
  • Record Date Demerger: GFL
  • Record Date Rights Issue: India Grid Trust
  • Move Into ASM Framework: Repco Home Finance, 3i Infotech, Olectra Greentech
  • Move Out Of ASM Framework: Religare Enterprises
  • Move Into Short-Term ASM Framework: Privi Speciality Chemicals
  • Move Out Of Short-Term ASM Framework: GFL,
  • Price Band Revised From 10% To 5%: Future Lifestyle Fashions, Future Retail

Insider Trades : Stocks Tips For Today

  • Aarti Industries: Promoter Monisha Bhatia sold 10,000 shares on March 24.
  • Alembic Pharmaceuticals: Promoter Uday Education Society sold 2 lakh shares on March 24.
  • Dhani Services: Promoter Orthia Properties bought 8 lakh shares on March 26.
  • Godrej Industries: Promoter Arel Enterprise LLP bought 1.39 lakh shares between March 22-23.
  • J Kumar Infraprojects: Promoters Kusum Gupta, Shalini Gupta, Nalin Gupta, Kamal Gupta and Jagdishkumar Gupta bought 3.26 lakh shares between March 24-26.
  • Mastek: Promoter Ashank Desai bought 15,000 shares on March 25.
  • Raymond: Promoter JK Investors (Bombay) bought 2.20 lakh shares on March 25.
  • VIP Industries: Promoter DGP Securities sold 51,000 shares on March 24. Promoters Alcon Finance & Investments and Kemp And Company bought 51,000 shares on March 24.

As reported on March 26.

F&O Cues

  • Nifty April futures ended at 14,622; premium of 115 points
  • Nifty April futures added 2.1% and 2,541 shares in Open Interest
  • Nifty Bank April futures ended at 33,719; premium of 401 points
  • Nifty Bank April futures add 1% and 800 shares in Open Interest
  • Nifty Put-Call Ratio at 1.55
  • No Stocks In F&O Ban
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