Stocks to Watch: , GAIL, ONGC, PFC, RIL, SBI, Bank

Friday, Jun 25, 2021 - Morning brief for the stock market:

BIG PICTURE

* urges OPEC to phase out oil output cuts in view of high prices

TOP EVENTS TODAY

* Jan-Mar earnings to be detailed by:

Abhinav Capital Services HCL Infosystems PNC Infratech Abhishek Finlease Hexa Tradex Polyspin Exports ABM Knowledgeware Hindustan Adhesives Pondy Oxides and Chemicals Active Clothing Co Pradhin Adarsh Mercantile Hindustan Tin Works Prakash Steelage Adinath Textiles Hisar Metal Industries Punjab Communications Aditya Spinners Hi-Tech Winding Systems Puravankara Advait Infratech India Glycols Race Eco Chain Aimco Pesticides Indo Credit Capital Raghuvansh Agrofarms Ajanta Soya Indo Euro Indchem Railtel Corp of India Alacrity Securities Ravi Kumar Distilleries Alchemist Corp Ind-Swift Laboratories RDB Rasayans Alexander Stamps and Coin Industrial Investment Trust Ridings Consulting Alphageo India Innocorp Ritesh International Amarnath Securities Inox Wind Energy Safal Herbs Amba Enterprises Inox Wind Saptak Chem and Business Antony Waste Handling Cell Jaysynth Dyestuff India Sarla Performance Fibers Apex Frozen Foods Jindal Drilling and Industries Sarthak Metals

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ARO Granite Industries JITF Infralogistics SAT Industries Arunis Abode JSW Energy Selan Exploration Technology Ashish Polyplast Jullundur Motor Agency () Setco Automotive Athena Constructions Jumbo Bag Shervani Industrial Syndicate Atul Auto Jyoti Resins and Adhesives Shiva Texyarn B&A Packaging India KCP Shivagrico Implements Bafna Pharmaceuticals Kemistar Corp Shree Ganesh Biotech India and Co KIC Metaliks Shree Ganesh Elastoplast Banco Products India Kkrrafton Developers Shree Renuka Sugars Bengal Tea and Fabrics KP Energy Shree Salasar Investments Bharat Wire Ropes Kretto Syscon Shree Worstex Bharatiya Global Infomedia Kumbhat Financial Services Siddha Ventures Bisil Plast Kusam Electrical Industries BLB Lambodhara Textiles Smart Finsec Capricorn Systems Global Solutions Lehar Footwears Softbpo Global Services Caprihans India Longview Tea Co Spenta International Cella Space Lovable Lingerie SPS Finquest Chandra Prabhu International Lykis Sree Jayalakshmi Auto Spin Chitradurga Spintex Macpower CNC Machines Star Paper Mills CHL Magna Electro Castings Starteck Finance Choice International Seamless State Trading Corp of India Coromandel Agro Products and Oils Mahashree Trading Superhouse Covidh Technologies Mahaveer Infoway Supreme Holdings and Hospitality India CSL Finance Mather and Platt Fire Systems SW Investments Dalal Street Investments Mawana Sugars Swastik Safe Deposit and Investments DB International Stock Brokers Mefcom Agro Industries Systematix Corporate Services Dutron Polymers Mega Nirman and Industries Taj GVK Hotels and Resorts East Buildtech Mercantile Ventures Tamil Nadu Newsprint and Papers Eco Friendly Food Processing Park MFL India TCFC Finance Eco Recycling Minaxi Textiles Technocraft Industries India Emmbi Industries Mipco Seamless Rings Gujarat Telesys Software ERP Soft Systems Modi Naturals Texmo Pipes and Products Facor Alloys MSR India The Byke Hospitality Finolex Industries MSTC Transwarranty Finance Forbes and Co MT Educare Tree House Education and Accessories Fruition Venture NCL Industries Trombo Extractions G Tech Info-Training Negotium International Trade United Drilling Tools Galactico Corporate Services Pix Shorts Digital Media Vaghani Techno-Build GCCL Construction and Realities NMS Resources Global Vani Commercials GCM Capital Advisors Ontic Finserve Vikas Lifecare Godfrey Phillips India Orient Refractories Vippy Spinpro Goldstone Technologies Oswal Agro Mills Visagar Financial Services Golkonda Aluminium Extrusions Oswal Greentech Visagar Polytex Goodricke Group Overseas Synthetics Voltaire Leasing and Finance Gujarat Credit Corp Ozone World Voltamp Transformers Halder Venture Parth Industries WAA Solar Haldyn Glass PBA Infrastructure Williamson Financial Services Leather Chemicals Pee Cee Cosma Sope Yantra Natural Resources Hawa Engineers Phaarmasia Zota Health Care HCKK Ventures Pix Transmissions

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* Board Meetings of:

+ ABM Knowledgeware, to consider dividend

+ Advait Infratech, to consider dividend

+ ARO Granite Industries, to consider dividend

+ B&A Packaging India, to consider dividend

+ Balmer Lawrie and Co, to consider dividend

+ Banco Products India, to consider dividend

+ Caprihans India, to consider dividend

+ Chandra Prabhu International, to consider dividend

+ CSL Finance, to consider dividend and bonus share issue

+ Emmbi Industries, to consider dividend

+ Finolex Industries, to consider dividend

+ Godfrey Phillips India, to consider dividend

+ Haldyn Glass, to consider dividend

+ Hindustan Copper, to consider dividend

+ Hindustan Tin Works, to consider dividend

+ Hisar Metal Industries, to consider dividend

+ India Glycols, to consider dividend

+ Indraprastha Gas, to consider dividend

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+ Jaysynth Dyestuff India, to consider dividend

+ Jindal Drilling and Industries, to consider dividend

+ JSW Energy, to consider dividend

+ Jullundur Motor Agency (Delhi), to consider dividend

+ Jyoti Resins and Adhesives, to consider dividend

+ KCP, to consider dividend

+ Lambodhara Textiles, to consider dividend

+ Lykis, to consider voluntary delisting of shares

+ Magna Electro Castings, to consider dividend

+ Maharashtra Seamless, to consider dividend

+ MSTC, to consider dividend

+ NCL Industries, to consider dividend

+ Orient Refractories, to consider dividend

+ Pix Transmissions, to consider dividend

+ PNC Infratech, to consider dividend

+ Pondy Oxides and Chemicals, to consider dividend

+ Railtel Corp of India, to consider dividend

+ Sanjivani Paranteral, to consider raising of funds by way of fresh issue of shares

+ Sarla Performance Fibers, to consider dividend

+ Sarthak Metals, to consider dividend

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+ Shiva Texyarn, to consider dividend

+ Star Paper Mills, to consider dividend

+ Starteck Finance, to consider dividend

+ Superhouse, to consider dividend

+ Swastik Safe Deposit and Investments, to consider dividend

+ Tamil Nadu Newsprint and Papers, to consider dividend

+ TCFC Finance, to consider dividend

+ Transwarranty Finance, to consider fund raising

+ United Drilling Tools, to consider dividend

+ Voltamp Transformers, to consider dividend

+ White Organic Agro, to consider fund raising via combination of shares

+ Zota Health Care, to consider dividend

* Annual General Meetings of: Automobile Corp of Goa, ICICI Prudential Life Insurance Co, Kansai Nerolac Paints, Quint Digital Media, Raghav Productivity Enhancers, SIS, State , , Tata Elxsi, Tejas Networks

INDICATORS (previous session)

* NSE provisional net buy/(sell) in bln rupees, Jun 24: FIIs (28.91), DIIs 11.39

* Institutional net buy/(sell) in bln rupees, Jun 23: FIIs (2.48)

* FII NSE futures net buy/(sell) in bln rupee, Jun 24: index 17.80, stock (0.23)

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* Sensex: 52699.00, up 392.92 points; Nifty 50: 15790.45, up 103.50 points

* Crude: $73.30/bbl; Rupee: 74.16/$1; Gold: $1,776.7/ounce; 10-year yield: 6.0122%

GLOBAL MARKETS

* US : Indices in the US ended higher on Thursday as US President Joe Biden striking an infrastructure deal with a bipartisan group of senators boosted investors' sentiment.

* Asia: Key indices rose today tracking overnight gains on Wall Street, after US President Joe Biden struck an infrastructure deal with a bipartisan group of senators, which will likely to boost the economy.

DOMESTIC OUTLOOK

* Positive cues from global markets may drive benchmark indices to open higher, with information technology stocks extending gains from Thursday. However, intermittent profit booking may keep a lid on gains.

IPO WATCH

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* India Pesticides' initial public offer was subscribed 3.79 times on day two, with the company receiving bids for 73.2 mln shares against 19.3 mln shares on offer.

EARNINGS for JAN-MAR

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* ASHOK LEYLAND:

(Net profit 2.4 bln rupees vs 573.2 mln loss rupees a year ago

Revenue 70 bln rupees vs 38.4 bln rupees a year ago)

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(Consol PAT 747.12 mln rupees, up 86.13% YoY

Consol Revenue 3.46 bln rupees, up 69.85% YoY)

* OIL AND NATURAL GAS CORP

(Net profit 67.3 bln rupees vs 32.1 bln loss a year ago

Revenue 211.9 bln rupees vs 214.6 bln rupees a year ago)

SECTOR NEWS

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* COMMODITY: Indian traders are likely to import about 1.75 mln tn of pulses from Myanmar over five years, a government official said.

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* ECONOMY: The government will announce measures, if any, to mitigate the economic impact of the second wave of COVID-19 based on how the situation unfolds and not on private forecasts, Principal Economic Adviser Sanjeev Sanyal has said.

* ENERGY: ReNew Power Ventures has evinced interest in buying US investment bank Morgan Stanley’s majority stake in Continuum Green Energy (India), sources said. (Mint)

* INFRASTRUCTURE: Minister for Road Transport and Highways Nitin Gadkari has said that road construction works with an outlay of around 15 trln rupees are planned across the country this financial year.

* NON-BANKING FINANCIAL COMPANIES: The Reserve Bank of India issued guidelines for declaration of dividend by non-bank lenders, linking the payment to a prescribed capital and net bad loan ratio.

* REGULATORY: The Securities Appellate Tribunal has stayed the penalties imposed by the Securities and Exchange Board of India on Cairn India and others for making a misleading announcement regarding buyback of shares in 2014. (PTI)

STOCKS

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* AARTI INDUSTRIES: Qualified institutional placement of the company opened on Thursday, at a floor price of 899.77 rupees per share.

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* ADANI PORTS AND SPECIAL ECONOMIC ZONE: The struck first coal from its Carmichael, Australia project on Thursday and will start shipping to its customers according to schedule. With this, the project will not only lift the economic prospects of the hitherto barren Australian outback, but also help Indian power plants to source cheap coal. (BS)

* CG POWER AND INDUSTRIAL SOLUTIONS: Central Bureau of Investigation officials on Thursday visited the registered office of the company in and sought information on certain transactions involving the erstwhile promoter, management and their associates, which are under investigation by the Serious Fraud Investigation Office and the Securities and Exchange Board of India.

* COX & KINGS: Investor Manpreet Singh Bagga sold 998,000 shares or 0.57% stake in the company at 2.63 rupees a share through a bulk deal on the National Stock Exchange.

* GAIL (INDIA): Fitch Ratings has affirmed the company's long-term foreign- currency issuer default rating at 'BBB-' with a negative outlook, the same as India's sovereign rating. However, the company's standalone credit profile has been assessed by Fitch at 'BBB', supported by the company's dominant position in the gas transmission business, diversification into other segments, and healthy credit metrics.

* HFCL: Equity investment advisory firm Indsec Securities and Finance has sold 1.9 mln shares, representing nearly 0.15% stake, in the company through a block deal on BSE.

* : Has cut prices of aluminium ingots, billets and wire rods for the fourth time in a row with effect from Tuesday. The company has cut prices by 1,500 rupees per tn or nearly 1%.

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* : Has raised 16.50 bln rupees through qualified institutional placement, which closed on Thursday.

* L&T TECHNOLOGY SERVICES: Will expand its presence in segments that are relatively unaffected by the pandemic as it looks to mitigate the risk of COVID- 19's impact continuing for an extended period.

* LIC HOUSING FINANCE: Will issue 45.4 mln shares to its parent Life Insurance Corp of India at 514.25 rupees per share.

* ORCHID PHARMA: Non-retail portion of the offer-for-sale by the company's promoter was subscribed nearly three times on Thursday, with the company receiving bids for 8.3 mln shares out of 2.95 mln shares on offer.

* POWER FINANCE CORP: Plans to raise up to 35 bln rupees through two bonds- -one maturing in six years that carry a separately transferable redeemable principal parts structure, and another in 15 years, and has invited bids for both on Monday, sources told.

* : Reliance Infocomm launched a smartphone, developed in partnership with Google, called 'JioPhone Next'. The company said the new device will the cheapest smartphone world over.

The company's partnership with Saudi Aramco for its oil-to-chemicals business is likely to be formalised this year, Chairman Mukesh Ambani said at the company's annual general meeting.

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Reliance Jio Infocomm has partnered with Google Cloud for fifth-generation technology in India.

Amid growing impetus on renewable energy globally, the company has announced the launch of its new energy business with an initial investment of 750 bln rupees over three years.

Chairman Mukesh Ambani has said that the company's retail business is among the fastest-growing in the world, and he is confident that it is on a hyper-growth trajectory to expand at least threefold over the next three-to-five years.

* SBI CARDS AND PAYMENT SERVICES: Has announced a partnership with Fabindia to launch two variants of co-branded contactless credit cards, namely, Fabindia SBI Card and Fabindia SBI Card SELECT.

* SHREE RENUKA SUGARS: IDBI BANK sold 43 mln shares, representing 2.02% stake in the company, through the open market between May 27 and Jun 23.

* : Has launched 'Aarogyam Healthcare Business Loans', wherein the bank will give loans of 1 mln rupees to 1 bln rupees for up to 10 years to healthcare service providers.

The Central Bureau of Investigation has registered a case against a private sector company based in Mumbai for an alleged loss of 24.35 bln rupees to a consortium of banks led by the State Bank of India.

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* VEDANTA: Has cut prices of aluminium ingots by 1,500 rupees per tn, or nearly 1%, with effect from Tuesday. This is the third consecutive price cut taken by the company.

* WABCO INDIA: The retail portion of the offer for sale by the promoter was oversubscribed on Thursday, with bids coming in for over twice the number of shares on offer.

* : The CBI has carried out searches at six locations after registering a fresh case of fraud of 24.35 bln rupees in YES BANK and other consortium banks against former CG POWER AND INDUSTRIAL SOLUTIONS chairman Gautam Thapar who is already under probe in such cases, officials said. (PTI)

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