STOCKS TO WATCH, 


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Stocks To Watch

 🔹Reliance Industries : To raise Rs 53,125 crore via rights issue at Rs 1,257 per share which is a discount of 14 percent to the closing price on April 30. Rights entitlement ratio will be 1 equity share for every 15 equity shares held by eligible shareholders as on the record date. Promoter and promoter group of the company have confirmed they will subscribe to the full extent of their aggregate ri

 🔹Reliance Nippon Life Insurance: The company has shared an update for FY20 where Total Individual Premium collection rose 4 percent to Rs 4,375 Crore. Embedded Value rose 20.4 percent to Rs 4,314 Crore. Net Profit was up 37.2 percent to Rs 35 crore. 13th Month Persistency stood 77.03 percent while AUMs were Rs 19,837 crore. Growth in embedded value on the back of sustained new business contribution

 🔹State Bank of India: Fitch Ratings downgrades the viability rating by one notch to BB, citing the impact of Covid-19 on operating environment. The agency said that the downgrade reflects the heightened risks that weakening asset quality will post to its less-than-satisfactory loss-absorption buffers.

 🔹ICICI Bank, Axis Bank, Bank Of Baroda: Fitch Ratings downgrades the viability rating by one notch to BB for ICICI and Axis while for Bank of Baroda, it is downgraded to BB-.

 🔹IDFC First Bank: Approves capital raise of Rs 2,000 crore via preferential issue. Shares will be issued to IDFC, ICICI Prudential, HDFC Life, Bajaj Allianz Life and Dayside Investment which belongs to the Warbug Pincus group. IDFC Financial Holding has infused Rs 800 crore as part of the issue. Capital Adequacy Ratio to rise to 15.5 percent while CET-1 ratio will rise to 15.3 percent post the infu

 🔹Central Bank of India: Has launched a scheme to assist all borrowing accounts availing fund-based working capital limits. Accounts which are classified as standard assets can avail emergency line of credit up to 10 percent of existing fund-based working capital limits, subject to a maximum of Rs 50 crore. The same is repayable in 18 EMIs with a moratorium of 6 months. This provision of additional

 🔹Tata Motors: Fitch Ratings downgrades JLR's long-term issuer default rating and senior unsecured rating to B from B+. Both ratings have been removed from Rating Watch Negative. Outlook on the issuer default rating is negative.

 🔹PNB Housing Finance: CRISIL re-affirms credit rating on borrowings and NCDs at AA and fixed deposits at AA+. Outlook has been revised to negative from stable. Rating on short-term NCDs is reaffirmed at A1+. The outlook reflects the delay in capital raise. The company also faces high risk of slippages in wholesale book due to the Covid-19 linked lockdown, weak economic activity and implications on

 🔹Coal India: Coal production in April down 10.9 percent to 40.38 million tonnes while offtake falls 25.5 percent to 39.06 million tons.

 🔹MOIL: The prices of all grades of Ferro, SMGR, fines and chemicals have been raised by 45 percent in May as compared to those in April 2020.

 🔹NMDC: Iron Ore sales down 49 percent in April to 1.38 million tonnes while production falls 38 percent to 1.8 million tonnes.

 🔹Westlife Development: ICICI Prudential Life Insurance increased its stake to 5.06 percent.

 🔹CG Consumer Electricals: Has resumed operations at its Ahmednagar plant.

 🔹Shriram City: The Board of Directors will meet on May 4 to consider raising funds through debt on a private placement basis for the purpose of business of the company

 🔹Healthcare Global: To consider fund raising by issue of equity shares or other equity linked securities on a preferential basis on May 7.

 🔹Adani Enterprises: To consider raising funds via issue of equity shares or convertible bonds through QIP and via issuance of NCDs on a private placement basis on May 6.

 🔹Asian Paints: Has forayed into the hand and surface sanitizer category.

 🔹IIFL Finance: To approve offer document to raise Rs 1,000 crore via NCDs on May 6.

 🔹Prataap Snacks: Has started operations at its Indore plant.

 🔹NACL Industries: Has started operations at its two plants in Andhra Pradesh.

 🔹Gujarat Alkalies & Chemicals: Has started production at its Dahej complex.

 🔹Lakshmi Vilas Bank: RBI has approved extension of tenure of interim CEO and Managing Director, Subramanian Sundar till May 31.

 🔹Sobha: Manufacturing units of the company have started their operations.

 🔹Blue Star: Board approved raising up to Rs 500 crore via NCDs. Company said that it plans to raise Rs 300 crore via issue of NCDs in the near-term to primarily finance working capital and capital expenditure.

 🔹Laurus Labs: Board approved share split of one share into five shares and approved merger of two foreign arms with itself.

 🔹Minda Corporation: Has partially resumed operations at its plants in Madhya Pradesh, Uttarakhand and Maharashtra.

 🔹PNB Gilts: Board passed an enabling resolution for raising of funds through issue of commercial papers for an amount not exceeding up to Rs 1,000 crore.

 🔹Gujarat Gas: India Ratings and Research upgraded company’s long term issuer rating worth Rs 3,200 crore to IND AA+ from IND AA. The outlook is stable.

 🔹Century Enka: Has started operations at its Gujarat plant.

 🔹Motillal Oswal: Case against MCX has been deferred to June, as reported

 🔹SBI Life Insurance: F&O contracts to be introduced with effect from May 4.

 🔹Marico: To report Q4 earnings today.

 🔹Manappuram Finance: To meet GIC Singapore today.