Stocks in focus April 11: Tata Motors, Coal India, Ruchi Soya, Sugar Stocks, AMC and many more

Stock indices ended their three-day losing streak and ended with strong gains on Friday, April 8, 2022. Positive global indices also supported buying. The S&P BSE Sensex Barometer Index added 412.23 points or 0.7% to 59,447.18. The Nifty 50 index gained 144.8 points or 0.82% to 17,784.35. The 50-unit index has fallen 2.3% over the past three sessions. But some stocks made headlines after the market closed. These actions may have an impact on the indices when it reopens on Monday April 11, 2022. List of these actions:

Tata Motors: Jaguar Land Rover retail sales for the three months ending March 31, 2022 continued to be constrained by the global shortage of semiconductors. Retail sales for the quarter ending March 31, 2022 were 79,008 vehicles, up 36% year-over-year from the 44,475 units reported in the prior year quarter ending March 31, 2021. Wholesale volumes were 76,526 units, up 11% quarter-on-quarter. As of March 31, 2022, the total backlog has grown to over 1,68,000 units, up approximately 14,000 orders from December 31, 2021. Demand for the New Range Rover and New Defender is particularly strong with over 45,500 and 40,000 orders respectively. JLR’s retail sales fell 18% in China.

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Coal India: The Union cabinet on Friday approved a proposal to offer a single three-month window for central and state-owned companies to abandon their idle coal mines without penalty. The UAPs will be able to return the mines without losing the bank guarantees.

Ruchi Soya Industries Ltd: The Ruchi Soya Industries Limited Board of Directors on Sunday granted approval in principle to assess the most effective mode of enhancing synergies with the PAL food portfolio in any way on a full competetion. Additionally, the company repaid loans of Rs 2,925 crore to banks and became a debt-free company.

Sugar stocks: Sugar company stocks will be the focus of concern today as Food Secretary Sudhanshu Pandey said on Friday that India’s sugar exports are expected to exceed 80 lakh tonnes over the next 2021-22 marketing year ending in September, exceeding the level of the previous year.

AMCs In Focus: SEBI is gearing up to have a full review of existing mutual fund rules. To that end, the market regulator has set up a task force to determine roles, mutual fund sponsorship eligibility, and qualifications, among other things. The task force will make recommendations on whether new mutual funds can increase competition. The task force will also review mutual fund trustee rules.

BSE / MCX / CDSL: As part of the resolution of disputes between investors and listed companies, exchanges will have to put in place standard operating procedures from June 1, 2022. This will help resolve investor complaints about dividends and share transfers. At the same time, claims related to DEMAT, free shares etc. will also be settled.

SEAMEC: The company with consortium partner M/s. Posh India Offshore Private Limited has entered into an agreement with M/s. Larsen & Toubro Limited for diving related and other associated works through the deployment of our vessel “SEAMEC PRINCESS” for the ONGC works of the Pipeline Replacement Project VII (PRP-VII RTR). The total combined value of the contract for the consortium is USD 10.1 crore.

SMS Lifesciences India Ltd: The United States Food and Drug Administration (USFDA) has completed its inspection of the company’s API manufacturing facility located in Kazipally, Telangana (Unit I) without any sightings. The inspection started on April 4, 2022 and ended on April 8, 2022.

RITES: The leading transport infrastructure consultancy and engineering firm has entered into a memorandum of understanding with the Indian Institute of Technology, Delhi (IIT-Delhi) to explore avenues for mutual collaboration on road design and road safety consultancy projects.

Sandur Manganese & Iron Ores Ltd: The company’s board on Sunday approved the issuance of shares of 1.80 crore shares of Rs 10 each in the company on the basis of rights to eligible shareholders of the company on the date of registration (to be notified later). The company intends to raise up to Rs 18 crore through this rights issue. Rights allocation ratio: 2 new shares for 1 share held by eligible shareholders on the record date. The company has also signed a power purchase agreement and a share subscription and ownership agreement with Renew Green Energy Solutions Private Limited (“ReNew”) for the supply of solar and wind energy to the company and to its associates, in accordance with the terms and conditions as per the respective agreements and as mutually agreed by both parties and has approved the investment to be made in shares of the SPV Company. In addition, the Board of Directors has also approved the proposal to establish a wholly owned subsidiary under the name and style of “Sandur Pellets Private Limited” subject to necessary approvals. Dolly Khanna bought a 1.53% stake in Q4FY22.

Vodafone Idea: The telecom company is reportedly in talks with private equity firm Apollo Global to raise up to $1 billion by selling a mix of debt and equity.

Tata Power: Saudi Arabia’s Public Investment Fund (PIF) May Take Stakes in Company’s Power Transmission and Distribution Business

Time Technoplast Ltd: The company’s Board of Directors approved the restructuring of overseas operations to capture growth in Asian countries, the Middle East and the United States through a joint venture/vehicle to special use by integrating a strategic partner/investing partner through the sale/transfer/disposal of part of the assets/investments of subsidiaries/significant subsidiaries/retiring subsidiaries. In addition, the board also approved the appointment of Bharat Kumar Vageria as managing director and Vishal Anil Jain as non-executive director.

Camlin Fine Sciences: The company takes annual scheduled maintenance activity of its plant located at Dahej SEZ ‐II, Bharuch, Gujarat. As a result, said plant will be on maintenance shutdown from April 10, 2022 to May 10, 2022. The restart activity will begin on May 11, 2022.

Torrent Pharma / JB Chemicals: Torrent Pharmaceuticals and JB Chemicals, controlled by KKR, are among the latest contenders to acquire Chennai-based Curatio Healthcare. Dr. Reddy’s labs should also be on the list of buyers. The deal size is estimated at Rs 2,500 crore.

Bundles

HDFC Bank: LIC sold its entire 2.63% stake in the company in Q4FY22.

Blue Dart Express Ltd: LIC sold 1.04% of the shares of the company in Q4FY22.

Avanti Feeds: Mutual funds increase their stake from 6.01% to 8.05% during Q4FY22.

Asian Granito India Ltd: Individual investors Atul Kumar J Shah (1.68%) and Dishant Milanbhai Parikh (2.46%) sold their entire stake in Q4FY22.

Escorts: Rakesh Jhunjhunwala sold his entire stake (5.8%) in the company in March 2022. The institution’s stake fell from 24.3% to 4.04%

Bandhan Bank: HDFC, on April 8, 2022, sold 3.1% of the shares (4.96 crores of shares) of the company. Societe Generale bought 1.18% of the shares (1.90 crore of shares) of the bank. Furthermore, HDFC sold 4.94% stake in the company between January 19, 2022 and April 8, 2022, for Rs 2,460 crore. With that, HDFC’s stake was reduced from 9.89% to 4.95% in the private sector lender.

Care Valuation: Phaeacian Accent International Value Fund sold 3.73 lakh shares at Rs 540.21/share. Multi Fund 10 Umbrella ICAV – Kinsale Navigator Fund sold 2.99 lakh shares at Rs 540.21/Share.

Uma Exports: Purple Entertainment sold 2.07 lakh shares at Rs 83.75/Share.

Gati Ltd. : Bunny Investments And Finance Private Limited sold 0.0081% of the shares (10,000 shares) on March 8, 2022 on the open market. With this, the company’s holdings in Gati Ltd fell from 0.0407% to 0.0325%.

Ajanta Soya: Dolly Khanna increased her stake in the company by 0.35% in Q4FY22.

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