Stocks in the news: Max Financial, Vodafone Idea, Simplex Infra, Axis Bank and Power Grid
NEW DELHI: Nifty futures on the Singapore Exchange traded 127.50 points, or 1.06 per cent, higher at 12,146, indicating a positive start for Dalal Street. Here are a few stocks which may buzz the most in today’s trade: Max Financial Services, Axis Bank: India’s fourth-largest private sector lender in terms of market capitalisation, is set…
At a glance:
NEW DELHI: Nifty futures on the Singapore Exchange traded 127.50 points, or 1.06 per cent, higher at 12,146, indicating a positive start for Dalal Street. Here are a few stocks which may buzz the most in today’s trade:
Max Financial Services, Axis Bank: India’s fourth-largest private sector lender in terms of market capitalisation, is set to acquire more than 20 per cent stake in Max Life Insurance through fresh issue of equity, multiple sources told ET.
Simplex Infra: The Adani Group is in talks with promoters of Simplex Infrastructures to take equity exposure in the latter through a fresh share sale. A couple of private equity investors have also expressed interest in Simplex Infra.
Vodafone Idea: On the derivatives counter, the open interest (OI) of the February futures contract rose by almost 8 per cent as the stock price jumped 40 per cent on Wednesday, indicating creation of fresh bullish bets. Meanwhile, Brickwork Ratings downgraded its rating on Vodafone Idea’s non-convertible debentures, aggregating to Rs 2,500 crore.
Bharti Airtel, Tata Teleservices: The statutory dues of telecom operators — pegged at ₹1.64 lakh crore — is set to rise sharply with the Department of Telecommunications (DoT) now in the process of calculating dues for FY18 and FY19, officials said.
Power Grid: The state-run firm will not go to the telecom tribunal against the telecom department’s (DoT) demand notice for Rs 22,168 crore as licence fee dues, as it feels the Supreme Court’s latest order and hearing seem to exempt it, a senior government official said.
Muthoot Finance: The company is set to raise up to $550 million (₹3,900 crore) by selling bonds to international investors to expand its gold loan business, three people with direct knowledge of the matter said. alers said.
BPCL: The management does not expect major layoffs after the proposed privatisation of the oil marketing company as it has been working on having a lean structure for almost a decade now, a top executive of the company told
Suzlon: State-run SBI approved a restructuring plan proposed by Suzlon Energy, two bankers familiar with the matter. told The Mint
Tata Power: Global investors including Brookfield, Omers, Mubadala and Abu Dhabi Investment Authority (ADIA) are in early stage discussions with Tata Power to invest around $500-600 million (₹3,500 crore-₹4,200 crore) in its renewable energy platform.
NIIT: The company said it has approved the proposal of voluntary liquidation of its wholly-owned subsidiaries NIIT Institute of Process Excellence (NIPE) and NIIT Yuva Jyoti (NYJL).
Tata Communications: State-owned Hemisphere Properties India Ltd’s board has approved issuance of shares to Tata Communications under an agreement between them in connection with transfer of surplus land during the disinvestment of erstwhile VSNL in 2002.
Infibeam Avenues: BSE-listed Infibeam Avenues said it has forayed into the US, the world’s second largest digital payments market by revenue, and will offer its solutions to web and mobile-based small and medium enterprises (SME).
Patel Engineering: The company has approved issue of up to 54 crore preference shares to Praham India for Rs 54 crore.
Man Industries: The company received new export orders of about Rs 300 crore from MENA region. With this, the total unexecuted order book for the company stood at about Rs 1,600 crore.
BHEL: The Energy Resource Institute (TERI) said state-run engineering firm BHEL has won the bid for installation and maintenance of battery energy storage systems (BESS) worth Rs 2.51 crore.
IRCTC: With a monopoly in the company’s area of operations — catering, tourism and online ticketing for Indian Railways, investors and traders are making a beeline for the stock but analysts warn the run could stop abruptly because of stretched valuations.
Centrum has maintained its ‘Buy’ rating on Sundaram Finance with a target price of Rs 1,900. The brokerage said while Sundaram’s Q3 operating revenues were in line with analyst expectations, the asset quality numbers deteriorated mainly due to commercial vehicle loans.
CD Equisearch has maintained its ‘Accumulate’ rating on Supreme Industries with a target price of Rs 1,615. Renewed thrust on project implementation and reach of government programmes is expected to have a positive effect on the revenue of India PVC pipes and fitting market.
Edelweiss has maintained its ‘Buy’ rating on Jindal Stainless with a target price of Rs 57. The brokerage said it remains upbeat on the potential volume ramp-up at Jindal and deleveraging potential. Besides, CDR exit and OCRPS refinancing by Q3FY21 end will eliminate externalities impacting the stock performance.
Axis Securities has maintained its ‘Buy’ rating on APL Apollo Tubes with a target price of Rs 2,370. The company reported Ebitda of Rs 161 crore, up 171 per cent. This resulted in a sharp 78% rise in Ebitda/ tonne to Rs 3,342. The rising contribution from high margin Apollo Tricoat products and operating leverage aided by higher margin products is also expected to be a positive
SBI Cap Securities has maintained its ‘hold’ rating on Sadhhav Engineering with a target price of Rs 114. The brokerage said funding constraints are impacting the execution of company’s projects with revenue falling 52.5 per cent year-on-year in the quarter ending December.
- Barak Valley Cements Limited: Bina Garodia has bought 3,96,730 shares through Inter-se-Transfer on Feb 18, 2020.
- Harrisons Malayalam Limited: Trade Apartments Ltd has bought 44,659 shares through Market Purchase on Feb 18, 2020.
- Hi-Tech Pipes Limited: Anish Bansal has bought 25,000 shares through Market Purchase on Feb 18, 2020.
- LT Foods Limited: Rajinder Wadhawan has bought 54,460 shares through Market Purchase from Feb 17, 2020 to Feb 18, 2020.
- LT Foods Limited: Suman Wadhawan has bought 20,500 shares through Market Purchase on Feb 18, 2020.
- Subex Limited: Anagha Advisors Llp has bought 33,19,543 shares through Market Purchase on Feb 14, 2020.
- Websol Energy System Limited: Sohan Lal Agarwal has bought 22,124 shares through Market Purchase on Feb 17, 2020.
- Alkem Laboratories Limited: Nawal Kishore Singh has sold 38,785 shares through Market Sale on Feb 14, 2020.
- Axis Bank Limited: General Insurance Corporation Of India has sold 1,00,000 shares through Market Sale on Feb 17, 2020.
- Axis Bank Limited: Jairam Sridharan has sold 1,64,000 shares through Market Sale on Feb 14, 2020.
- Divi’s Laboratories Limited: Divi Madhusudana Rao has sold 20,000 shares through Market Sale on Feb 17, 2020.
- HCL Technologies Limited: Priyadarshi Ashok Das has sold 20,000 shares through Market Sale on Nov 29, 2019.
- HDFC Bank Limited: Bhavesh Zaveri has sold 25,000 shares through Market Sale on Feb 17, 2020.
- ITC Limited: H.N. Rama Prasad has sold 50,000 shares through Market Sale on Feb 14, 2020.
- ITC Limited: Jagdish Singh has sold 50,000 shares through Market Sale on Feb 14, 2020.
- RBL Bank Limited: Andrew Gracias has sold 25,000 shares through Market Sale on Feb 14, 2020.
- Sanco Industries Limited: Sanjay Gupta has sold 1,45,753 shares through Market Sale on Feb 18, 2020.
Note: Disclosure made under Reg 13(4), 13(4a) of SEBI (IT) regulations 1992.
Bulk and Block Deals :
|Blg Tickers||Date||Company Name||Acquirer/Seller||Buy /Sell||Qty Traded||Price|
|RELG||19-Feb-20||Religare Enterprises Ltd||Resonance Opportunities Fund||Buy||2,500,000||42.00|
|RELG||19-Feb-20||Religare Enterprises Ltd||Axis Bank Ltd||Sell||2,900,000||42.00|
|SNLL||19-Feb-20||Snowman Logistics Limited||Rajasthan Global Securities Pvt Ltd||Buy||1,036,578||43.38|
|SNLL||19-Feb-20||Snowman Logistics Limited||Vinithra Sekhar||Sell||900,237||43.34|
|STPM||19-Feb-20||Star Paper Mills Ltd||Shyam Mohini Ghai||Buy||86,844||127.19|
Note: Insider Buy/Sell is as defined by SEBI Insider Trading Regulations, 1992 Bulk Deal is defined as any trade in which quantity transacted is more then 0.5% of the companies equity shares listed on the exchanges. The above mentioned data is not completely Extensive as relatively smaller trades have been excluded. (Edelweiss Alternative Research)
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