Sensex, Nifty End Lower For Third Consecutive Trading Session

Alphageo

• Shares snapped four-day losing streak and rose as much as 20 percent to Rs 258.95.
• The company won two contracts for seismic data processing valued at Rs 130 crore.

Mishra Dhatu Nigam

• Stock rose as much as 20 percent to hit an all-time high at Rs 216.45.
• Shares surge 140 percent since its listing on April 3, 2018.

Orient Electric

• Shares surge the most in 14 months.
• Stock rose as much as 8.2 percent to Rs 275.

Mindtree

• Stock rose as much as 3.8 percent to Rs 996.40.
• Fresh longs seen with high open interest of 24 percent.

Balkrishna Industries

• Stock rose as much as 11.1 percent to Rs 1,285.
• Trading volume was more than eight times its 20-day average.

LIC Housing Finance

• Stock fell as much as 14.8 percent to Rs 351.10.
• Trading volume was almost seven times its 20-day average.

Lemon Tree Hotels

• Stock rose as much as 6.7 percent to Rs 59.80.
• Trading volume was more than six times its 20-day average.

Glenmark Pharma

• Stock fell as much as 8.5 percent to Rs 305.40.
• Trading volume was almost six times its 20-day average.

Shares of NCC extended declines for the second consecutive trading session.

The stock fell as much as 7.1 percent, the most since Feb. 1, to Rs 43.60, the lowest since October 2014.

Of the shares traded, 47 percent were at the ask price and 50 percent were at the bid, according to Bloomberg data.

Shares of Muthoot Finance extended gains for the second consecutive trading session. The stock rose as much as 17.2 percent, the most since August 2016, to hit a record high at Rs 875.45.

Trading volume was almost 30 times its 20-day average, Bloomberg data showed. The Relative Strength Index was at 76, indicating that the stock may be overbought.

Shares of Mishra Dhatu Nigam rose as much as 20 percent, the most since Match 5, 2019, to hit an all-time high at Rs 216.45.

Trading volume was more than 20 times its 20-day average, Bloomberg data showed. The Relative Strength Index was above 70, indicating that the stock may be overbought.

European stocks rose after Chinese shares advanced with the yuan as investors took encouragement from the Asian country’s pledges to support its economy in the face of the coronavirus outbreak.

• Futures on the S&P 500 Index increased 0.3 percent as of 8:15 a.m. London time.
• Nasdaq 100 Index futures increased 0.5 percent.
• The Stoxx Europe 600 Index gained 0.4 percent.
• The MSCI Asia Pacific Index decreased 0.2 percent.
• The MSCI World Index was little changed.

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Source: Bloomberg

JSW Steel Takeover Of Bhushan Power & Steel: NCLAT Grants Immunity From Criminal Investigations

Shares of MT Educare fell as much as 3.5 percent to Rs 15.

The company’s promoters plan to sell 7.71 percent stake via offer for sale. The promoters plan to sell up to 55.65 lakh shares at a floor price of Rs 14.5 per share for Rs 8.07 crore.

The floor price is at a discount of 7 percent to the closing price as on Feb. 14. Another five percent discount will be offered to retail investors at the cut off price.

The stock returned 7.7 percent in the past five days and 11 percent in the past 30 days.

Shares of Hero MotoCorp extended declines for the third consecutive trading session. The stock fell as much as 3.7 percent to Rs 2,269.55.

The company said that the ongoing issue of coronavirus in China has affected the supply of some components to the company’s manufacturing facilities in India. This is likely to impact planned production by around 10 percent for February. However, the wholesale dispatches of vehicles to the dealers during the month remain unaffected. Any further impact on production will depend on the developing situation in China.

The stock declined 13 percent in the past 12 months compared to a 15 percent gain in the Sensex.

Shares of Vodafone Idea rose as much as 23.5 percent, the most since Jan. 21, 2020, to Rs 4.20.

Telecom operators Bharti Airtel Ltd., Vodafone Idea Ltd. and Tata Teleservices are likely to make payment for adjusted gross revenue dues on Monday to avoid stringent punitive action from the Telecom Department, PTI reported quoting official sources.

“The three companies are jointly liable to pay dues of over Rs 1 lakh crore, but they have informed the Department of Telecom of making only partial payment, as per their representatives,” the report added.

• Dr Lal Pathlabs to meet Hermes Investment, Mathews International and Comgest on Feb. 17.
• KEC International to meet Antique Group and HDFC Securities from Feb. 18-20.
• Cigniti Technologies to meet Narnolia Financial Advisors, IndiaNivesh PMS and other investors from Feb. 17-18.
• SH Kelkar to meet Harding Loevner on Feb. 17.
• Pidlite Industries to meet Blackrock on Feb. 17.
• Majesco to meet Amansa Holdings on Feb. 17.
• Cipla to meet Credit Suisse, ICICI Pru Life Insurance and SBI MF from Feb. 18-19.
• Tata Steel to meet Thornburg Investment Management and Fidelity International from Feb. 17-18.

• Gujarat Borosil ex-date for amalgamation
• Noida Toll Bridge to move into ASM Framework
• Reliance Capital, Jain Irrigation Systems, Adhunik Industries, JBF Industries, Apollo Finvest to move out of ASM Framework
• HSIL, Setco Automotive, Shemaroo Entertainment, Veto Switchgears And Cables to move into short term ASM Framework
• Setco Automotive price band revised to 10 percent
• Mcleod Russel, RattanIndia Power price band revised to 5 percent

• Sun Pharma created a pledge of 1.08 crore shares on favour of Barclays Merchant Bank on Feb. 11.
• Forbes promoter Shapoorji Pallonji revoked pledge of 9.5 lakh shares on Feb. 11.
• JSPL promoter OPJ Trading revoked pledge of 30 lakh shares on Feb. 14.
• JSW Energy promoter Glebe Trading created pledge of 1.3 crore shares on Feb. 12.

Godrej Agrovet

• Promoter Godrej Industries acquired 16.1 lakh shares (0.84 percent) at Rs 538.93 each
• Vsciences Investments sold 18.92 lakh shares (0.99 percent) at Rs 539.13 each

Sudarshan Chemical

• Promoters Kishor Rathi and Rohit Rathi sold 10 lakh shares (1.44 percent) at Rs 455 each
• Axis MF acquired 7.5 lakh shares (1.08 percent) at Rs 455 each

India Grid Trust

• Lant Employees Welfare Foundation acquired 1.04 crore shares at Rs 96.35 each
• Vedanta sold 1.29 crore shares at Rs 96.35 each

Earnings To Watch

• Firstsource Solutions
• Huhtamaki PPL

Earnings Reaction To Watch

ONGC (Q3, QoQ)

• Revenue down 3.2 percent at Rs 23,710.1 crore (Estimate: Rs 24,007 crore)
• Net profit down 33.7 percent at Rs 4,151.6 crore (Estimate: Rs 5,258 crore)
• Ebitda down 7.5 percent at Rs 12,298.4 crore (Estimate: Rs 12,124 crore)
• Margin at 51.9 percent versus 54.3 percent (Estimate: 50.5 percent)
• Net realisations at $58.24/barrel versus $60.3/barrel
• Other Income down 47 percent at Rs 1,402.5 crore

SAIL (Q3, YoY)

• Revenue up 4.5 percent at Rs 16,541.3 crore
• Net loss at Rs 429.6 crore versus net profit of Rs 616.3 crore
• Ebitda down 61.3 percent at Rs 997.6 crore
• Margin at 6 percent versus 16.3 percent

Balkrishna Industries (Q3, YoY)

• Revenue down 3.5 percent at Rs 1,155.8 crore
• Net profit up 48.2 percent at Rs 223.8 crore
• Ebitda up 13.4 percent at Rs 346.2 crore
• Margin at 30 percent versus 25.5 percent

Glenmark Pharmaceuticals (Q3, YoY)

• Revenue up 7.1 percent at Rs 2,735.6 crore
• Net profit up 64.1 percent at Rs 190.8 crore
• Ebitda up 1.3 percent at Rs 440.2 crore
• Margin at 16.1 percent versus 17 percent

Embassy Office Parks REIT (Q3, YoY)

• Revenue from operations up 14 percent at Rs 545.9 crore
• Net operating income up 16 percent at Rs 463.9 crore
• Portfolio occupancy up 220 basis points to 95.1 percent

IRB Infra (Q3, YoY)

• Revenue down 2.6 percent at Rs 1,742.6 crore
• Net profit down 27 percent at Rs 159.7 crore
• Ebitda down 6.2 percent at Rs 713.6 crore
• Margin at 41 percent versus 42.5 percent

Muthoot Finance (Q3, YoY)

• Net Interest Income up 43.8 percent at Rs 1702.5 crore
• Net profit up 63.7 percent at Rs 841 crore
• Gross NPA in Gold Loan Business at 1.87 percent

Sun TV Network (Q3, YoY)

• Revenue down 9.7 percent at Rs 847.8 crore
• Net profit up 7.2 percent at Rs 384.5 crore
• Ebitda down 12.3 percent at Rs 595.2 crore
• Margin at 70.2 percent versus 72.3 percent

Edelweiss Financial Services (Q3, YoY)

• Net Interest Income down 60.2 percent at Rs 209.6 crore
• Net profit down 92.6 percent at Rs 16.7 crore
• Impairment cost up 93 percent at Rs 220.5 crore

Finolex Cables (Q3, YoY)

• Revenue down 6.3 percent at Rs 702.4 crore
• Net profit up 10.1 percent at Rs 102.7 crore
• Ebitda down 8.9 percent at Rs 99.9 crore
• Margin at 14.2 percent versus 14.6 percent

• Telecom AGR Issue: Bharti Airtel has told DoT it will deposit Rs. 10,000 crore of the AGR dues by Feb. 20. The operator will pay the remaining balance amount before the next date of hearing. The AGR dues case will come up in Supreme Court on March 17.
• CARE Ratings to institute enquiry in the matter of interference by officials of the ratings agency including the erstwhile Chairman SB Mainak and the erstwhile MD and CEO Rajesh Mokashi in the rating process in the last 3 years. The board has already initiated the process of appointing the MD and CEO. SEBI has directed the company to start the enquiry. Forensic auditor’s report brings out prima facie findings of interference by the erstwhile MD in influencing the rating process, hence, a stringent action is required against the erstwhile MD. Board to constitute a Committee of independent directors to oversee the enquiry proceedings.
• Hero MotoCorp said that the ongoing issue of coronavirus in China has affected the supply of some components to the company’s manufacturing facilities in India. This is likely to impact planned production by around 10 percent for February. However, the wholesale dispatches of vehicles to the dealers during the month remain unaffected. Any further impact on production will depend on the developing situation in China.
• Dr. Reddy’s Laboratories received zero observation by U.S.FDA for its formulations plant in Andhra Pradesh.
• Lupin has launched Moxifloxacin Ophthalmic Solution. The drug is indicated for the treatment of bacterial conjunctivitis.
• MT Educare promoters to sell 7.71 percent stake via offer for sale. Promoters to sell up to 55.65 lakh shares at a floor price of Rs 14.5 per share for Rs 8.07 crore. The floor price is at a discount of 7 percent to the closing price as on Feb. 14. Another five percent discount will be offered to retail investors at the cut off price.
• CCI approved the acquisition of Wabco Holding by ZF Friedrichshafen AG, subject to compliance of certain modifications.
• Rites emerged as the successful bidder for supply of locomotives and coaches for Rs 680 crore to Indian Railways.
• Avenue Supermart OFS to Non-Retail investors gets 3.4 times demand on Day 1.
• HUDCO achieved loan sanctions of Rs 7,507.19 crore and loan releases of Rs 7,730.53 crore as on Jan. 31, for the current fiscal year.
• Dilip Buildcon received a letter of acceptance from Airports Authority of India for EPC project in Gujarat, whose bid cost stood at Rs 570.1 crore.
• Mangalam Cement: Board approved a proposal to increase clinker capacity by 3MTPA with a capital investment of Rs 125 crore in existing plant in Rajasthan.
• UCO Bank: Shareholders approved a proposal of issue of 129.5 crore shares at Rs 6.54 per share, aggregating to Rs 2142 crore on a preferential basis to Government of India.
• Andhra Bank reduced MCLR across various tenors with effect from Feb. 15. One Month MCLR at 7.8 percent and One Year MCLR at 8.2 percent.
• Prabhat Dairy: Board approved the merger of wholly-owned arm Cheese Land Agro with the company.
• Titagarh Wagons commissioned its second research vessel for the Government of India.

• The benchmark for American equities jumped 1.6 percent last week, ending at an all-time high. The S&P 500 Index advanced four out of five days, posting three records along the way.
• Crude held firm on Monday, following its biggest weekly gain of the year, after China, Hong Kong and Singapore pledged extra stimulus measures to help the region’s economy recover from the impact of coronavirus.

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