Stocks To Watch: Axis Bank, Divi’s Labs, Emami, GATI, HDFC Life Insurance, HUL, Indiabulls Housing Finance, JB Chemical, Motherson Sumi, SAIL, Vedanta

Asian stocks began Friday by following Wall Street modestly higher after a better-than-expected U.S. jobs report overshadowed concerns that new coronavirus hotspots could disrupt the economic recovery. Japanese shares edged up, with South Korea and Australia also seeing early gains.

Here are the stocks to watch in trade today:

• HDFC Life Insurance to be included Nifty Index instead of Vedanta. Vedanta to be replaced from Nifty 50 Index on account of proposed voluntary delisting. Changes will be effective from July 31. Replacement will also applicable to Nifty 50 Equal Weight Index.
• JB Chemicals and Pharma: Promoters have entered into an agreement to sell 4.17 crore shares (54% stake of total voting share capital) to KKR Group for an amount up to Rs 3,109 crore in various tranches. As per SEBI rules, the open offer of up to 2.01 crore shares (26% stake of total voting share capital) has been triggered with an offer price of Rs 745 per share, aggregating to Rs 1,497 crore. Offer price is at a premium of 4% to the closing price on July 2. Deal will happen in 4 tranches, after the first two tranches the promoter's stake in the company will fall from 55.91% to 17.01%, and the remaining two tranches of exercised will see a further fall in promoter's holding.
• PI Industries has launched QIP issue on July 2. QIP floor price set at Rs 1,534.24 per share at a discount of 2% to the closing prices on July 2. As per SEBI regulations company may offer a discount of not more than 5% on the floor price so calculated for the issue. The indicative deal size is up to Rs 2,000 crore.
• HUL changes brand name of Fair & Lovely to Glow & Lovely. Changes name of its men's range of Fair & Lovely products to Glow & Handsome. Emami stated in a press release that it had already launched a week back in its brand ‘Emami Glow & Handsome' digitally and necessary application has already been made to the relevant authorities and the company will be seeking legal help on on HUL's use of 'Glow & Handsome' for men's grooming products.
• Reliance Industries clarified on the news of nearing a deal to acquire retail business of Future Group stating that the company is evaluating various opportunities on an ongoing basis.
• Motherson Sumi: Board approved demerger of the domestic wiring harness undertaking into the resulting company (which will be wholly owned arm) holders will get 1 share of the resulting company for each share held. Board also approved amalgamation of Samvardhana Motherson International with the company by absorption, subsequent to the completion of the afore-said demerger where for every 10 shares held in Samvardhana Motherson International, 51 shares of the company would be alloted. There will be no change in the shareholding pattern of the company as a result of the demerger pursuant to the scheme. Resulting company will be listed. Company will be renamed as Samvardhana Motherson International. Transaction likely to be completed by the second quarter of fiscal 2022.
• Axis Bank to wind down and close the operations of Axis Bank UK, a subsidiary of the Bank and targeting for surrendering of the banking license by end of April 2021, which has been reviewed with the UK regulators. Bank said that it has a clear objective to focus on the Indian Banking market and harness the potential there and there will be no material impact on operations or financial position of the Bank.
• Divi's Laboratories' CFO L.Kishore Babu is seeking legal advice and will respond to SEBI's order for alleged charges of insider trading in securities of the company during July 2017.
• Affle India to acquire 8% stake in OSLabs for $2.86 million. OSLabs operates Indus App Bazaar, which is India's largest independent indigenous apps store and partners with OEMs in India.
• Muthoot Finance to consider shareholder's approval for share split and to increase borrowing powers of the Board from existing Rs 50,000 crore to Rs 75,000 crore on July 18.
• Defence Stocks: Ministry of Defence cleared Rs 38,900 crore of proposals, including acquisitions from Indian industry of Rs 31,130 crore. The panel also approved a proposal for procurement of 21 Mig-29 planes along with upgradation of existing 59 Mig-29 aircrafts and procurement of 12 Su-30 MKI aircraft.Mig-29 procurement and upgradation from Russia is estimated to cost Rs 7,420 crore, Su-30 MKI will be procured from HAL at an estimated cost of 10,730 crore, according to the statement. (Bloomberg News)
• Jyothy Labs has opened a new dish wash manufacturing unit adjacent to the company's existing plant situated in Madhya Pradesh.
• CG Power and Industrial Solutions clarified on the news of Murugappa Group on investing Rs 750 crore in the company, stating that the company is working on a debt resolution plan with its lenders and in this regard certain potential investors have signed Non-Disclosure Agreements with the company for undertaking due diligence. However, none of these have culminated into a binding offer by the potential investor(s), which has been accepted by company / lenders.
• GPT Infra received infra order worth Rs 102.8 crore from NHAI.
• Excel Industries has stopped manufacturing activities of its Roha plant till July 5, due to increase in Covid-19 patients near the area.
• IRB Infra allotted NCDs worth Rs 200 crore on a private placement basis.

June Auto Sales

• VST Tiller Tractors: Power Tillers sales down 20% at 2,675 units and tractors sales up 11% at 805 units, on a year on year basis.

Earnings Today

• Indiabulls Housing Finance
• GATI
• SAIL

Pledged Share Details

• Ramkrishna Forgings promoter Riddhi Portfolio Services released pledge of 1.6 lakh shares on June 29
• Nocil promoter Mafatlal Industries released pledge of 13.07 lakh shares on July 2

(As Reported On July 2)

Bulk Deals

• KRBL: Kotak Mahindra International sold 13 lakh shares (0.55%) at Rs 262.03 per share
• Valiant Organics: Promoter Dilesh Airlines sold 69,000 shares (0.57%) at Rs 1,701 per share

Who's Meeting Whom

• Mahindra & Mahindra to meet East Bridge Advisors on July 3

Trading Tweaks

• Record Date for Share Buyback: Amrit Corp, Balrampur Chini Mills, Just Dial.
• Record Date for Stock Split: Karda Construction (from Rs 10 to Rs 2).
• Price Band Revised From 10% To 5%: Vertoz Advertising
• Price Band Revised From 20% To 10%: Oriental Aromatics
• Move Into Surveillance Measure Due To High Encumbrance: Dilip Buildcon, Future Lifestyle Fashions, Adani Ports and Special Economic Zone, NCC, Ahluwalia Contracts, JSW Steel.
• Move Out Of Surveillance Measure Due To High Encumbrance: Himachal Futuristic Communications, JSW Energy, Adani Transmission, GMR Infrastructure, Max India, Jindal Stainless, Adani Enterprises, Jagran Prakashan, D.B.Corp, Torrent Power.
• Move Into ASM Framework: 3i Infotech, Alphageo, Tijaria Polypipes
• Move Into Short-Term ASM Framework: Mayur Uniquoters, Dynemic Products, Hi-Tech Pipes, Manaksia Coated Metals & Industries
• Move Out Of Short-Term ASM Framework: Nahar Poly Films, Astec LifeSciences, Nitin Spinners, JBM Auto, Greenpanel Industries, Kirloskar Industries, Vikas Proppant & Granite.

Insider Trades

• Apollo Tyres promoter PTL Enterprises acquired 3.8 lakh shares from June 29-30
• Jamna Auto promoter Map Auto acquired 7.26 lakh shares from June 29-30
• Prakash Industries promoter Ved Prakaash Agarwal acquired 25,000 shares on June 30

(As Reported On July 2)

Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay

F&O Cues

• Nifty July futures closed at 10,540, discount of 11 points versus discount of 22 points
• Nifty July futures open interest down 6.7%, sheds 7.7 lakh shares in open interest
• Nifty Bank July futures closed at 21,977, premium of 24 points versus discount of 48 points
• Nifty Bank July futures open interest down 1%, sheds 15,000 shares in open interest
• Nifty Put Call Ratio at 1.61 versus 1.43 across all series

Nifty Monthly Expiry: July 9

• Max open interest on call side at 11,000 strike (15.5 lakh shares)
• Max open interest on put side at 10,000 strike (15 lakh shares)
• Active options: 10,400 Put (+12 lakh shares), 10,600 Call (+7.5 lakh shares)

Nifty Monthly Expiry: July 30

• Max open interest on call side at 11,000 strike (22.2 lakh shares)
• Max open interest on put side at 10,000 strike (30.5 lakh shares)

Securities In Ban

• In Ban: Idea, Glenmark, SAIL
• New In Ban: SAIL

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