Stocks To Watch: FSN E-Commerce Ventures, Vedanta, Adani Enterprises, Bharti Airtel

Stocks advanced in Asia on Wednesday after Wall Street rallied on corporate earnings and indications that the Federal Reserve is open to slowing the pace of interest-rate hikes.

Oil rose amid an uncertain supply outlook alongside a proposal by the European Union to soften Russian crude sanctions. 

Gold changed little, while Bitcoin held recent gains after rising as much as 4.2% Tuesday to snap the digital asset from its lowest price since November 2020.

Domestic benchmarks indices closed higher to end their three-day losing streak, boosted by gains in metal and IT stocks.

Rupee emerged from its four-day-long slump against the U.S. dollar and the global currency shed gains.

At 6:40 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- rose 0.34% to 18,349.5.

Earnings Post Market Hours

Siemens Q4 (Consolidated, YoY)

• Revenue up 8.4% at Rs 4,657.1 crore vs Rs 4,173.6 crore

• Ebitda up 16% at Rs 515.9 crore vs Rs 444.9 crore

• Net profit at Rs 652.3 crore vs Rs 320 crore (includes Rs 356 crore gain from sale of discontinued operations)

• Margins at 11.1% vs 10.4%

Stocks To Watch

• FSN E-Commerce Ventures: CFO Arvind Agarwal resigned to pursue other opportunities in the digital economy and start-up space.

• Vedanta: The board approved the third interim dividend for FY23 of Rs 17.5 per share, amounting to a total payout of Rs 6,505 crore.

• Reliance Industries/ Bharti Airtel/Vodafone Idea: Embattled telco Vodafone Idea continued to lose subscribers in September as rivals Bharti Airtel and Reliance Industries strengthened their customer bases, showed TRAI data.

• Adani Enterprises: The board of the company will meet on Nov. 25 to consider raising funds through further public offering, preferential allotment, including a QIP, or through any other mode.

• DCW: The company will invest Rs 125 crore towards capacity expansion in CPVC and debottlenecking SIOP under its long-term strategy of making inroads into specialty chemicals segment.

• Bharti Airtel: The company’s data centre subsidiary Nxtra will invest Rs 600 crore to set up its new hyper-scale data centre in Kolkata.

• Wipro: The company launched its strategic cybersecurity consulting offering in Europe.

• BASF: Alexander Gerding appointed as managing director of the company's board for five years, effective Jan. 01, 2023.

• Infosys: The company entered a strategic collaboration with Envision AESC to digitise and automate processes at latter's EV battery manufacturing plants.

• MBL Infrastructure: The arbitral tribunal passed an award worth Rs 9.29 crore plus interest in favour of the company against Public Works Department, Delhi for a residential complex project in Delhi.

• Life Insurance Corporation of India: The insurer increased its stake in Tech Mahindra to 6.87% from 4.86%.

• UPL: The company announced victory in a lawsuit protecting the intellectual property rights for its patented Everest crop protection agricultural input.

• Time Technoplast: Company informed that the progress on consolidation cum restructuring of overseas business is progressing very well and the management along with advisors JP Morgan India and Ernst & Young India are at final stage of negotiation/discussion with the prospective investor.

Listing

• Inox Green Energy Services: The equity shares of the company will be listed on the exchanges on Nov. 23. Its IPO price was Rs 65 per share. The IPO was subscribed 1.55 times between Nov. 11 and Nov. 15. The QIB portion was subscribed 1.05 times, while 47% of the non-institutional investor portion was subscribed. The retail portion was subscribed 4.7 times.

Block Deals

• FSN E-Commerce Ventures: BofA Securities Europe SA bought 7.79 lakh shares (0.03%), Societe Generale bought 9 lakh shares (0.03%), BNP Paribas Arbitrage bought 13.5 lakh shares (0.05%), Morgan Stanley Asia Singapore Pte bought 29.17 lakh shares (0.1%), Ontario Teachers Pension Plan Board bought 34.5 lakh shares (0.12%), Axis Mutual Fund bought 5.5 lakh shares (0.02%), Aditya Birla Sun Life Mutual Fund bought 26 lakh shares (0.09%), ICICI Prudential Mutual Fund bought 46 lakh shares (0.16%), Lighthouse India Fund III sold 1.84 crore shares (0.65%) at Rs 182 apiece.

• Wipro: Societe Generale bought 48 lakh shares (0.09%), BNP Paribas Arbitrage sold 48 lakh shares (0.09%) at Rs 387 apiece.

Bulk Deals

• Hindustan Construction Company: IDBI Trusteeship Services sold 80 lakh shares (0.53%) at Rs 16.5 apiece.

• Kaynes Technology India: Valuequest Investment Advisors bought 9.84 lakh shares (1.69%) at Rs 764.28 apiece, TNTBC as the trustee of Nomura India Stock Mother Fund bought 6 lakh shares (1.03%) at Rs 723.1 apiece, Norges Bank on account of the Government Pension Fund Global bought 9.24 lakh shares (1.59%) at Rs 751.16 apiece, Goldman Sachs Funds - Goldman Sachs India Equity Portfolio bought 4.66 lakh shares (0.8%) at Rs 705.28 apiece.

• Max Financial Services: Catalyst Trusteeship sold 54 lakh shares (1.56%) at Rs 637.21 apiece.

• Rolex Rings: PGIM India Mutual Fund sold 1.86 lakh shares (0.68%) at Rs 1,923.16 apiece.

Who’s Meeting Whom

• Radico Khaitan: To meet investors and analysts on Nov. 23.

• Clean Science and Technology: To meet investor and analysts on Nov. 23.

• Timken India: To meet investors and analysts on Nov. 23.

• BLS International Services: To meet investors and analysts on Nov. 24.

• EKI Energy Services: To meet investors and analysts on Nov. 28.

• Aptus Value Housing Finance India: To meet investors and analysts on Nov. 24 and Nov. 25.

AGM

• Procter & Gamble Health

Trading Tweaks

• Price Band Revised From 5% To 20%: NXT Digital

• Ex-Date Interim Dividend: Panama Petrochem, Hindustan Zinc, Indian Toners & Developers

• Ex-Date Annual General Meeting: Metalyst Forgings

• Ex-Date Amalgamation: Mindtree

• Record-Date Annual General Meeting: Metalyst Forgings

• Record-Date Interim Dividend: The Great Eastern Shipping Company, IPCA Laboratories, Container Corporation of India, Manappuram Finance, Ingersoll Rand (India), Pearl Global Industries, EID Parry India, Morganite Crucible (India), IPCA Laboratories, Great Eastern Shipping

• Record-Date Demerger: NXT Digital

• Record-Date Special Dividend: Ingersoll Rand India

Insider Trades

• Banswara Syntex: Promoter Group Kavita Soni sold 45,000 shares on Nov. 16.

• Ultramarine & Pigments: Promoter Group Deepa Ajay and Promoter Daya Sridhar sold 8,000 shares between Nov. 21 and Nov. 22.

• Berger Paints: Promoter U.K Paints (India) bought 20,500 shares on Nov. 21.

• Kei Industries: Promoter & Director Anil Gupta sold 2 lakh shares between Nov. 18 and Nov. 22.

• Rossell India: Promoter Group Harvin Estates sold 10,000 shares on Nov. 21.

Pledge Share Details

• Chambal Fertilisers & Chemicals: Promoter Zuari Industries created a pledge of 50,000 shares on Nov. 18.

• Sanghi Industries: Promoter Group Flarezeal Solutions created a pledge of 40 lakh shares on Nov. 18.

• Mangalore Chemicals & Fertilizers: Promoter Zuari Agro Chemicals created a pledge of 25 lakh shares on Nov. 18.

• Jindal Steel & Power: Promoter Group Siddeshwari Tradex created a pledge of 16 lakh shares on Nov. 21 and Promoter Group revoked a pledge of 23.53 lakh shares between Nov. 17 and Nov. 18.