Stocks To Watch: Adani Enterprises, JBM Auto, Rail Vikas Nigam, Patanjali Foods, GMR Power, Stove Kraft

Asian markets looked set to notch its biggest weekly advance since January amid a rebound in Chinese stocks and bets that the Federal Reserve is approaching an interest-rate peak.

Futures for Hong Kong, Japan and Australia all pointed to gains on Friday that would extend the MSCI Asia Pacific Index’s rally of 3.9% this week. A measure of U.S.-listed Chinese companies rose 2.6%, adding to the upbeat outlook as investors warm to signs of renewed efforts to bolster the economy.

Tech megacaps led gains on Thursday, with the S&P 500 topping 4,500 and the Nasdaq 100 up over 1.5%. Yields on policy-sensitive two-year Treasuries dropped 12 basis points to 4.63%.

Meanwhile, Brent crude rose above $81 a barrel and West Texas Intermediate was beyond $77-mark. The yield on the 10-year U.S. bond was trading at 3.76%, whereas Bitcoin was above 31,000-level.

At 5:30 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was unchanged at 19,722.5.

Indian stock benchmarks logged fresh lifetime highs after closing marginally higher on Thursday. Intraday, the Sensex rose 1.03% to scale a new high of 66,064.21 points, and the Nifty 50 jumped 0.94% to hit a record high of 19,567 points. The S&P BSE Sensex closed up 165 points, or 0.25%, at 65,559.89, while the NSE Nifty 50 ended 30 points, or 0.15%, higher at 19,413.75. The local currency strengthened 18 paise to close at Rs 82.07 against the U.S. dollar on Thursday.

Overseas investors in Indian equities turned net buyers on Thursday. Foreign portfolio investors mopped up stocks worth Rs 2,237.9 crore, while domestic institutional investors turned net sellers of equities and offloaded stocks worth Rs 1,196.7 crore.

• Adani Enterprises: The company fully repaid commercial paper worth Rs 30 crore on date of maturity, i.e. July 13.  

• Tata Communications: The company will consider proposal to issue unsecured, redeemable and non-convertible debentures on private placement basis on July 19. 

• JBM Auto: JBM Auto and its units will supply 5000 electric buses to state transport undertakings in Gujarat, Haryana, Delhi, Telangana, Orissa among others. It will also supply to multiple Fortune 500 companies. 

• Aster DM Healthcare: Company’s unit Aster DM Healthcare FZC has acquired remaining 20% stake in Premium Healthcare for Rs 5.18 crore.  

• Rail Vikas Nigam: Rail Vikas Nigam bagged a letter of award worth Rs 808 crore from National Highways Authority of India for rehabilitation and up gradation of some part of National Highway-53 in Odisha. The project is to be executed in 24 months. 

• Samvardhana Motherson International: The company has completed the acquisition of 51% stake in premium car upholstery maker Saddles International Automotive and Aviation Interiors. 

• Lloyds Metals and Energy: Lloyds Metals and Energy has received listing and trading approval from NSE for listing of its 50.48 crore equity shares from July 17. 

• Patanjali Foods: The company will not exercise oversubscription option in offer for sale of an additional 2% stake. Promoter Patanjali Ayurved had announced a stake sale of 7% or 2.53 crore shares. 

• Stove Kraft: Balaji AS has been relieved from the position of Chief Financial Officer with effect from close of business hours on 13 July 2023.  

• GMR Power and Urban Infra: GMR Smart Electricity Distribution received an order from Purvanchal Vidyut Vitran Nigam Ltd., and Dakshinanchal Vidyut Vitran Nigam Ltd.  to install and maintain 75.69 lakh smart meters in Purvanchal and Dakshinanchal areas of Uttar Pradesh.  

• Ahluwalia Contracts (India): The company received project worth Rs 199.58 crore from Indian Financial Technology and Allied Services for civil structural, facade and Related External Development Works for Enterprise Computing and Cybersecurity Training Institute at Bhubaneshwar, Orrisa, to be executed in 20 months. 

• Polo Queen Industrial and Fintech: The company approved to raise up to Rs 2,500 crore for its proposed Agro Processing Project and Data Centre Project  at MIDC. It will raise the amount by issuing equity shares or other instruments through one or more preferential issue on private placement basis or rights issue or QIP or through a mix of any.  

• Deep Industries: The company has inked joint venture arrangement with Euro Gas Systems S.R.L for supplying oil field equipments to the oil and gas industry. Euro Gas has acquired 26% stake of Deep Onshore Drilling Services, the JV company, and the balance 74% is held by Deep Industries. 

• Utkarsh Small Finance Bank Ltd.’s Rs 500-crore IPO was subscribed 16.2 times on day 2 and 4.73 times on day 1. Retail investors portion was subscribed 36.66 times on day 2, while the non-institutional portion was subscribed 27.72 times. The portion reserved for employees was subscribed to 8.48 times on day 2, while institutional investors subscribed 3.88 times.

Wipro: Q1 FY24 (Consolidated) 

• Revenue: Rs 22,831 crore vs Rs 23,190 crore (down 1.54%) (Estimate: Rs 22,992 crore) 

• Net Profit: Rs 2,870 crore vs Rs 3,074 crore (down 6.63%) (Estimate: Rs 2,989 crore) 

• EBIT: Rs 3,458 crore vs Rs 3,659 (Estimate: Rs 3,612 crore) 

• Margin: 15.14% vs 15.77% (Estimate: 15.7%) 

Angel One Q1 FY24 (Consolidated, YoY) 

• Revenue from operations rose 18% to Rs 807.5 million vs Rs 682 crore. (Bloomberg estimate: Rs 695.7 crore) 

• Net profit rose 22% to Rs 220.8 crore vs Rs 181.5 crore. (Bloomberg estimate: Rs 235.9 crore) 

• Ebitda at Rs 320.3 crore vs Rs 266.4 crore.  

• Ebitda margin at 39.7% vs 39.1%. 

Bandhan Bank, CCL Products (India), JSW Energy, Just Dial, Tata Steel Long Products , Unichem Laboratories, GTPL Hathway, VST Industries.

• GG Automotive Gears: Promoter Bala Gajra bought 10000 shares on June 30. 

• CSB Bank: Omers Administration Corporation sold 15 lakh shares (0.9%) at Rs 295 apiece. 
  

• Centurytex: Vanderbilt University sold 6.5 lakh shares (0.6%) at Rs 903.01 apiece. 

• Jindal Steel and Power: Promoter Opelina Sustainable Services revoked a pledge of 9.13 crore shares between July 5 and 8. 
  

• Mangalore Chemicals and Fertilizers: Promoter Zuari Agro Chemicals revoked a pledge of 1.25 crore shares on July 12. 

• Kalyan Jewellers: To meet investors and analysts on Aug. 9.   

• Titan Company: To meet investors and analysts on Aug. 2.   

• Ganesh Housing Corporation: To meet investors and analysts on July 18.  

• Pearl Global Industries: To meet investors and analysts on July 14.  

• IndusInd Bank: To meet investors and analysts on July 18.  

• Finolex Industries: To meet investors and analysts on July 20.   

• 360 One Wam: To meet investors and analysts on July 21.  

• Tata Motors: To meet investors and analysts on July 25.   

• Escorts Kubota   

• Geojit Financial Services  

• Lauras Labs   

• Nucleus Software Exports  

• Tarsons Products

• Price Band Revised From 10% To 5%: Reflex Industries   

• Price Band Revised From 20% To 10%: Zen Technologies   

• Ex-Date Dividend: Lupin, REC, Kabra Extrusion Technik, AstraZeneca Pharma India, Coromandel International, Thirumalai Chemicals, Apollo Tyres, Artemis Medicare Services, AU Small Finance Bank, Atul, Bosch, Birlasoft, Control Print, Expleo Solutions, Globus Spirits, Hindustan Zinc, Ujjivan Small Finance Bank, Safari Industries (India), Ultramarine & Pigments, Tasty Bite Eatables, Shanthi Gears, Mahindra Logistics, Mahindra & Mahindra, Ksolves India, Kirloskar Ferrous Industries.  

• Ex-Date Bonus Issue: Aptech  

• Ex-Date Income Distribution: India Infrastructure Trust  

• Ex-Date Annual General Meeting: Mahindra & Mahindra, Globus Spirits, Kabra Extrusion Technik, Thirumalai Chemicals, Coromandel International  

• Record-Date Dividend: Lupin, REC, Coromandel International, AstraZeneca Pharma India, Kabra Extrusion Technik, Apollo Tyres, Artemis Medicare Services, AU Small Finance Bank, Expleo Solutions, Birlasoft, Ujjivan Small Finance Bank, Safari Industries (India), Kirloskar Ferrous Industries  

• Move Into Short-Term ASM Framework: Zen Technologies  

• Move Out Of Short-Term ASM Framework: HEG, Olectra Greentech

• Nifty July futures ended at 19,498, a premium of 36.70 points. 

• Nifty July futures rose 4.46%, with 9,060 shares in open interest. 

• Nifty Bank July futures ended at 44,810.55, a premium of 7.25 points. 

• Nifty Bank July futures fell 7.18%, with 11,806 shares in open interest. 

• Securities in the ban period: Delta Corp, Hindustan Copper, India Cements, Manappuram Finance, Indiabulls Housing Finance, Punjab National Bank, Zee Entertainment Enterprise 

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