Stock Radar Bulk Deals

Stock Radar: Cyient, PNB Housing Finance, Genus Power Infra, Petronet LNG, Ola Electric in Focus on Wednesday

Stocks to Watch

Cyient DLM

• Promoter Cyient is expected to sell a 14.5% stake, equating to 1.15 crore equity shares in Cyient DLM via block deals. The deal size is anticipated to be Rs 860.9 crore, with a floor price set at Rs 748.65 per share. Post-deal, Cyient’s shareholding in Cyient DLM will reduce from 66.66% to 52.16%.

PNB Housing Finance

• General Atlantic Singapore Fund FII Pte is likely to offload a 5.1% equity stake in the company through a block deal. The floor price for the deal might be Rs 775 per share, with the offer size estimated at Rs 1,032.7 crore.

GE T&D India

• Promoters GE Grid Alliance BV and Grid Equipments are reviewing their shareholding structure and may explore the possibility of a minority stake sale in the company.

Genus Power Infrastructures

• Genus Power Infrastructures’ wholly-owned subsidiary has secured three Letters of Award (LOA) totaling Rs 3,608.52 crore for appointing advanced metering infrastructure service providers (AMISPs). The orders include designing an Advanced Metering Infrastructure (AMI) system, supply, installation, and commissioning of approximately 4.26 million smart prepaid meters, and system meters.

Tata Chemicals

• SES ESG Research has assigned an Environmental, Social, and Governance (ESG) Score (Adjusted) of 69.4 (Grade B) to Tata Chemicals based on FY24 data. The company did not engage SES for this ESG rating; it was prepared independently using publicly available FY24 data.

Ola Electric Mobility

• Ola’s scooters S1 X 3 kWh and S1 X 4 kWh have received Certification for Compliance under the Production Linked Incentive (PLI) scheme for the automobile and auto components industry. Both models have successfully met the minimum localization criteria of 50%, as required by the Ministry of Heavy Industries.

Larsen & Toubro

• The Bombay High Court has quashed a show-cause notice issued by GST authorities to Larsen & Toubro. The notice involved a service tax demand of Rs 2,237 crore related to certain transactions post-demerger. Larsen & Toubro had challenged the notice in court.

Exide Industries

• Exide Industries has invested an additional Rs 75 crore in its subsidiary, Exide Energy Solutions, on a rights basis, bringing the total investment in the subsidiary to Rs 2,652.24 crore. This investment does not change the shareholding percentage of Exide Industries in the subsidiary.

BGR Energy Systems

• BGR Energy Systems has received a contract termination notice from Jharkhand Urja Sancharan Nigam Ltd (JUSNL) concerning the supply, installation, testing, and commissioning of 132/33 kV GIS at Sarath, Sundernagar, and Chattarpur. The company stated that the termination would not have a material impact on its financials or operations.

Petronet LNG

• Petronet LNG has signed a Memorandum of Understanding (MoU) with Sri Lanka’s LTL Holdings for LNG supply to LTL’s dual-fuelled power plants in Colombo. The initial term of LNG supply from Petronet’s Kochi terminal is set for five years, extendable subject to mutual agreement.

NHPC

• A landslide incident at NHPC’s 510 MW Teesta-V Power Station in Sikkim has affected the TRT (tail race tunnel) gate hoist structure and part of the GIS building. The power station is currently non-operational and undergoing restoration following a flash flood in October 2023.

Reliance Industries

• Subsidiary Reliance Jio added 19.11 lakh subscribers in June, slightly down from 21.95 lakh in May. Jio’s market share was 40.71% in wireless subscribers as of June 2024.

Bharti Airtel

• Bharti Airtel added 12.52 lakh subscribers in June, a slight increase from 12.50 lakh in May. The company’s market share in wireless subscribers stood at 33.23% as of June 2024.

Vodafone Idea

• Vodafone Idea lost 8.60 lakh subscribers in June 2024, an improvement from the 9.24 lakh users lost in May. Its market share was 18.56% in wireless subscribers as of June 2024.

Bulk Deals

Zomato

• Antfin Singapore Holding Pte, part of Alibaba, sold a 1.05% stake in the food delivery company at an average price of Rs 257.46 and Rs 257.17 per share, respectively.

HG Infra Engineering

• Aditya Birla Sun Life Mutual Fund acquired a 0.75% stake and TATA Mutual Fund a 0.73% stake in the company at an average price of Rs 1,566.50 per share. Meanwhile, promoters Girishpal Singh Family Trust, Harendra Singh Family Trust, and Vijendra Singh Family Trust sold a 2.76% stake at the same price.

Krishna Institute of Medical Sciences

• SBI Life Insurance Company purchased a 0.97% stake in Krishna Institute at an average price of Rs 2,373.30 per share, while India Advantage Fund S4-I sold a 0.89% stake at the same price.

Sicagen India

• Promoter AMI Holdings bought a 0.98% stake in Sicagen India at an average price of Rs 69.94 per share.

Eraaya Lifespaces

• Bridge India Fund purchased a 0.9% stake in Eraaya Lifespaces at an average price of Rs 800 per share.

SME Listing on August 21

Solve Plastic Products

Broach Lifecare Hospital

Stocks Turning Ex-Dividend

• Engineers India, Bharat Bijlee, Emami Paper Mills, Gateway Distriparks, Hindustan Aeronautics, India Glycols, ISGEC Heavy Engineering, ITD Cementation, KPI Green Energy, Linc, Credo Brands Marketing, Pfizer, Rajapalayam Mills, Satia Industries, Snowman Logistics, Sumedha Fiscal Services, Symphony, Uniparts India, Vidhi Specialty Food Ingredients.

Stock Turning Ex-Buyback

• Symphony

Stock Trades Ex-Date for Bonus

• Sprayking

Stock Trades Ex-Date for Spin-Off

• RDB Realty & Infrastructure

Stocks Under F&O Ban

• NALCO, Aarti Industries, Aditya Birla Fashion and Retail, Balrampur Chini Mills, Bandhan Bank, Birlasoft, GNFC, Granules India, Hindustan Copper, India Cements, LIC Housing Finance, Manappuram Finance, Piramal Enterprises, RBL Bank, SAIL, Sun TV Network.

This summary covers significant developments and events that might influence the stock market on Wednesday, providing a comprehensive overview for investors and traders.

Conclusion

Wednesday’s stock market is expected to be highly dynamic, with a focus on several key stocks, including Cyient DLM, PNB Housing Finance, Genus Power Infrastructures, and Ola Electric Mobility. Major corporate actions, such as stake sales, block deals, and quarterly earnings, are likely to drive market sentiment. Additionally, the market will keep an eye on developments in companies like Tata Chemicals, Larsen & Toubro, Exide Industries, and Petronet LNG. The telecom sector’s performance update, along with bulk deals in Zomato and HG Infra Engineering, will also play a significant role in influencing market movements. Investors should be prepared for potential volatility and make informed decisions based on the latest updates.

FAQs

1. What is the significance of Cyient’s stake sale in Cyient DLM?

• The promoter Cyient is selling a 14.5% stake in Cyient DLM through block deals, which will reduce their shareholding from 66.66% to 52.16%. This could impact the stock’s price and investor sentiment.

2. Why is PNB Housing Finance in focus?

• PNB Housing Finance is in focus because General Atlantic Singapore Fund FII Pte is expected to sell a 5.1% equity stake in the company through a block deal, which could influence the stock’s market performance.

3. What is the latest update on Ola Electric Mobility?

• Ola Electric’s S1 X 3 kWh and S1 X 4 kWh scooters have received certification for compliance with the PLI scheme, meeting the required localization criteria, which is a positive development for the company.

4. What happened to Larsen & Toubro concerning the GST show-cause notice?

• The Bombay High Court has quashed the GST show-cause notice issued against Larsen & Toubro, which was related to a service tax demand of Rs 2,237 crore. This is a favorable outcome for the company.

5. What are the key takeaways from the telecom sector update?

• Reliance Jio added 19.11 lakh subscribers in June, while Bharti Airtel added 12.52 lakh subscribers. Vodafone Idea lost 8.60 lakh subscribers, continuing its trend of declining user base, which might affect their respective stock prices.

6. Which companies are expected to release their quarterly earnings on August 21?

• Procter & Gamble Health and Toyam Sports are expected to release their quarterly earnings on August 21, which could impact their stock prices based on the results.

7. What should investors watch out for in bulk deals?

• Investors should note significant transactions, such as the sale of stakes in Zomato by Antfin Singapore Holding and the acquisition of stakes in HG Infra Engineering by mutual funds, as these can indicate shifts in market confidence and stock valuations.

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