Stocks To Watch: Hindustan Aeronautics, Rail Vikas Nigam, GR Infra

Here are the stocks you need to look out for during the day.

Vivek Punj @Vivek Punj

03 Apr 2023, 08:38 AM IST

Crystal globe with stock information. (Source: Freepik)

U.S. equity futures slipped, the yen weakened and the Norwegian krone climbed as the surprise production cut from OPEC+ sent oil prices about 7% higher.

The bumpy open to Monday trading and fears of rising prices contrasts with the upbeat tone last week that came with turmoil in the banking sector receding and cooling in a key measure of US inflation.

The group’s decision to reduce output by more than 1 million barrels a day is a jolt to markets that had been looking to a near-term peak in inflationary pressure.

Contracts for the S&P 500 fell slightly early on Monday and those for the Nasdaq 100 declined 0.3% as positive sentiment from Friday ebbed. The S&P 500 had jumped 3.5% last week, the most since November, while the tech-heavy Nasdaq 100 notched its biggest quarterly gain since June 2020.

Meanwhile, the yield on 10-year treasuries was trading at 3.52%. Crude prices above $74-mark, while Bitcoin was hovering around 28,000-level.

At 6:11 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was up 0.36% at 17,480.5.

Both Indian benchmark indices—Sensex and Nifty—closed the last trading session of the fiscal well above 1.5%, snapping three weeks of decline to rise the most in 23 weeks or five months.

The Indian rupee surged against the U.S. dollar on the back of foreign investment inflow and rise in domestic equities.

Foreign investors in Indian equities remained net buyers for the third day in a row on Friday. Foreign portfolio investors bagged stocks worth Rs 357.86 crore in net terms, while the domestic institutional investors kept buying for a second day, raking in stocks worth Rs 2,479.96 crore, NSE data showed. They had snapped a 13-day buying streak on Tuesday.

Stocks To Watch

APL Apollo Tubes: The company registered the highest quarterly sales volume of 6,49,726 tonnes in Q4FY23. Sales volume for the current fiscal stood at 2,279,846 tonnes compared to 1,754,963 tonnes in FY22, aided by the new Raipur plant. The capacity utilisation was 28% in Q4FY23.
Bharat Electronics: Achieves a record turnover of Rs 17,300 crore. The order book as of April 1, 2023, is around Rs 60,500 crore, whereas it achieved export sales of around $46.5 million during the current fiscal against the previous year’s export of $33.3 million.
Hindustan Aeronautics: The company registered its highest-ever revenue from operations in a fiscal after a growth of 7.6% at Rs 26,500 crore during the year ended March 2023. The order book of the company stood at around Rs 82,000 crore at the end of March. The company’s cash flow improved substantially with payments of around Rs 25,000 crore from various defence customers during the period under review.
Rail Vikas Nigam: The consortium of Tracks & Towers Infratech and Rail Vikas Nigam received the letter of award from NHAI for construction of six-lane greenfield Varanasi-Ranchi-Kolkata highway for Rs 1,271.99 crore. The company received letter of award from NHAI for construction of six lane elevated Kona Expressway for Rs 720.67 crore. The company also received letter of award from Ministry of Railways for manufacturing and maintenance of 120 Vande Bharat trainsets at a cost of Rs 120 crore per trainset.
Engineers India: The company secured job orders Rs 48.82 crore for five assignments related to the energy sector.
GR Infraprojects: The company received letter of award for construction of four‐lane access controlled greenfield highway section of NH‐163G from Venkatpur village in Warangal district to Thallasenkesa village in Mahabubabed district of Telangana for Rs 847.87 crore.
Ashoka Buildcon: The company received letter of acceptance from Ministry of Railways for all civil engineering works and supply of machine crushed stone ballast in between block section from Birpur to Seroni Road in connection with Gwalior-Sheopurkalan GC project of North Central Railway. The project cost is Rs 284.65 crore.
HG Infra Engineering: The company received letter of award from NHAI for construction of six-lane greenfield Varanasi-Ranchi-Kolkata highway from Deoria to Donoreshan villages in Jharkhand at a project cost of Rs 998.36 crore.
ICICI Bank: The company acquired 9.5% stake in Propertypistol Realty via investment of Rs 22.5 crore in the latter’s equity shares and compulsorily convertible preference shares.
EIH Associated Hotels: The company acquired 40 acres of land on lease from Andhra Pradesh government for construction, development and operation of a five-star luxury hotel or resort in Visakhapatnam. The lease period for the land will be for 94 years, including four years of construction.
Punjab National Bank: The bank changed its base rate from 9% to 9.5% with effect from April 1, 2023.
Bank of India: The bank revised its marginal cost of fund-based lending rate in the range of 10-40 basis points with effect from April 1, 2023. The rep-based lending rate will be marked up by 10 basis points.
Westlife Foodworld: The company subsidiary will pay royalty at 4.5% to fast food restaurant chain McDonald’s for the fiscal ending March 2024.
Dixon Technologies (India): The company incorporated wholly owned subsidiary Dixtel Communications to undertake wholesale/trading of electronic equipment and other related parts thereof.
CreditAccess Grameen: The company completed three direct assignment transactions aggregating to Rs 936.63 crore and a PTC transaction of Rs 98.77 crore during March. During the quarter ended March 2023, the company raised total funds of Rs 5,840.09 crore through term loans, NCDs, MLD, ECBs, direct assignments and PTC.
Life Insurance Corporation of India: BC Patnaik has ceased to be the managing director of the corporation after close of office hours March 31, 2023, upon his superannuation.
Orient Electric: The company appointed Rajan Gupta has managing director and chief executive officer for a period of five years, effective April 4, 2023, after the resignation of Rakesh Khanna from the position.
Greenpanel Industries: The company suspended manufacturing operations at the MDF plant in Rudrapur, Uttarakhand for 20 days, with effect from April 1, 2023, due to routine maintenance.
Barbeque-Nation Hospitality: The company said it has suffered an IT incident and subsequently isolated its impacted IT assets. The core operations are unaffected, and all the company’s restaurants are fully operational, serving both dine-in and delivery.
Karnataka Bank: The bank saw CASA rise around 9% year-on-year to Rs 28,807.04 crore as on March 31, 2023. Meanwhile, gross advances increased 6% on-year to Rs 61,326.42 crore.
CSB Bank: The bank recorded 16% YoY rise in CASA at Rs 7,886.26 crore as on March 31, 2023, while term deposits increased 24% YoY to Rs 16,619.55 crore. Total deposits of the bank increased 21% YoY to Rs 24,505.81 crore. It recorded 30% YoY rise in gross advances at Rs 20,841.66 crore.
Karur Vysya Bank: Total deposits of Karur Vysya Bank increased 12% YoY to Rs 76,637 crore, as on March 31, 2023. The bank's CASA increased 6.5% on-year to Rs 25,449 crore.

Offerings

Avalon Technologies: The electronic manufacturing company will open its Rs 865-crore IPO on April 3 and close it on April 6. The price band for the issue is Rs 415-436 per share. The offering consists of a fresh issue of shares worth Rs 320 crore and an offer-for-sale worth Rs 545 crore.

Block Deals

Shriram Properties: Aurum Realestate Developers bought 2.43 crore shares (14.27%), WSI WSQI V (XXXII) Mauritius Investors sold 2.43 crore shares (14.27%) at Rs 55.05 apiece.
PSP Projects: Societe Generale bought 6.2 lakh shares (1.72%), Shilpaben Prahaladbhai Patel sold 6.2 lakh shares (1.72%) at Rs 664.35 apiece.

Bulk Deals

The Phoenix Mills: Government of Singapore sold 51.5 lakh shares (2.88%) at Rs 1,300.15 apiece.

Trading Tweaks

Price Band Revised From 20% To 10%: Brightcom Group
Price Band Revised From 20% To 5%: Shipping Corporation of India
Price Band Revised From 0% To 20%: Firstsource Solutions
Price Band Revised From 0% To 20%: Torrent Power
Ex-Date Buy Back Of Shares: TeamLease Services
Record Date Buy Back Of Shares: TeamLease Services
Move Into Short-Term ASM Framework: Brightcom Group

Insider Trading

Bhansali Engineering Polymers: Promoter group Bhansali Industrial Investment & Finance bought 1.25 lakh shares, promoter group Bhansali International bought 48,000 shares, promoter group Bhansali Engineering Industries bought 50,000 shares, promoter group Bhansali Innovative Finance bought 50,000 shares, promoter group Sheraton Properties and Finance bought 4 lakh shares, promoter group Speedage Commercials bought 3 lakh shares, promoter group Bentley Commercial Enterprises bought 3 lakh shares on March 31.
Kirloskar Industries: Promoter group Suman Kirloskar sold 1,428 shares, promoter group Mrinalini Kirloskar sold 4,380 shares, promoter group Navsai Investments bought 2,904 shares, promoter group Alpak Investments bought 2,904 shares on March 29.
Som Distilleries & Breweries: Promoter Jagdish Kumar Arora bought 35,000 shares on March 31.
KEI Industries: Promoter and director Anil Gupta sold 2 lakh shares between March 29-31.
Confidence Petroleum India: Promoter group Confidence LPG Bottling bought 9.05 lakh shares on March 29.
Indoco Remedies: Promoter Aditi Panandikar bought 2022 shares, promoter Madhura Ramani bought 1,500 shares on March 29.
Sobha: Promoter Puthan NC Menon bought 20,000 shares on March 29.
Motilal Oswal Financial Services: Promoter and director Raamdeo Ramgopal Agarawal 35,164 shares, promoter and director Motilal Gopilal Oswal bought 35,303 shares on March 29.
Mrs Bectors Food Specialities: Promoter group Anoop Bector AB Family Trust bought 10,000 shares on March 29.
Supriya Lifesciences: Promoter Satish Waman Wagh bought 14,000 shares on March 29.

Pledge Share Details

Chambal Fertilisers & Chemicals: Promoter group Simon India created a pledge of 2.08 lakh shares, promoter Zuari Industries created a pledge of 33,000 shares between March 27-28.

F&O Cues

Nifty April futures ended at 17,442.25, a premium of 229.15 points.
Nifty April futures fell 4.39% and 10.491 shares in Open Interest.
Nifty Bank April futures ended at 40,832, a premium of 610.4 points.
Nifty Bank April futures fell 1.57% and 2,249 shares in Open Interest.
Securities added to the ban period: Nil
Securities removed from the ban period: Nil