Stocks in Focus on March 21: Maruti Suzuki, Ruchi Soya, Sugar Stocks, Gujarat State Petronet, Strides Pharma and many more

Equity indices settled with robust gains on Thursday, March 17, 2022, rising for the second trading session. The barometer index, the S&P BSE Sensex, gained 1,047.28 points or 1.84% to 57,863.93. The Nifty 50 index rallied 311.70 points or 1.84% to end at 17,287.05. Both these indices rose about 3.75% in two consecutive sessions. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Monday, March 21, 2022. List of such Stocks:

Maruti Suzuki India: Suzuki Motor Corporation (SMC) signed MOU with the State of Gujarat, India to invest approximately 150 billion yen (approximately Rs 10,445 crore) for local manufacturing of electric vehicles (BEV) and BEV batteries. The planned year is 2025-26.

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IT Stocks: IT stocks will be in focus today on the backdrop of Accenture's second-quarter results. Accenture has posted strong second-quarter results. The US technology major has increased its growth guidance for FY22 (August end) and provided revenue guidance to 24.26%, up from 19-22% provided earlier. For the second quarter of fiscal 2022 ended February, Accenture reported a 24% revenue growth to $15 billion while the net income for the quarter was $1.66 billion, up 13.7% YoY. It also reported record new bookings of $19.6 billion, up 22% YoY. 

Ruchi Soya Industries: The edible oil maker has fixed a price band of Rs 615-650 per share for its follow-on-public offering (FPO) that seeks to raise Rs 4,300 crore. The FPO will remain open between March 24-28, 2022. The minimum bid lot shall be 21 and in multiples of 21 Equity Shares thereafter. The retail quota of the offer has been reserved at 35%. 

Sugar Stocks: Union Road Transport and Highways Minister, Nitin Gadkari in his address at the Sugar and Ethanol India Conference (SEIC) 2022 in Mumbai said the decline in sugar production and rise in ethanol production is better for the industry. Toyota, Hyundai and Suzuki have assured to launch flex engines in 6 months. He added Biofuel outlets will be opened for ethanol. He recounted those two years back during the Republic Day Parade in Delhi, the fighter jets which did the flypast had 100% bio-ethanol.

Gujarat State Petronet Ltd: Mirae Asset Mutual Fund bought 0.128% stakes (7,20,218 shares) of the company on March 16, 2022. 

Strides Pharma Science Ltd: Akston Biosciences and Biolexis collaborated to launch a room temperature stable 2nd generation COVID-19 vaccine in 130+ Countries. The two companies have entered into a licensing, manufacturing and commercialization agreement for Akston’s AKS-452, a protein subunit COVID-19 vaccine. Under the agreement, Biolexis gains the right to manufacture and commercialize AKS-452 (branded as AmbiVax-CTM) in India and over 130 countries in Asia, Latin America, and Africa largely covering the low-and-middle-income countries (LMICs). Akston Biosciences Corporation is a developer of new classes of biologic therapeutics, and Biolexis, a division of Stelis Biopharma Limited (Stelis). Strides have demerged its biotech business into Stelis Biopharma in February 2021.

Aurobindo Pharma / Torrent Pharma / Granules India: The three companies have signed a sub-license agreement to use the patents and know-how about compound nirmatrelvir with Medicine Patent Pool (MPP). Under the agreement, these companies will be able to manufacture and supply the sub-license agreement. The MPP has signed the pact with 95 countries including India.

Housing Development Finance Corp. Ltd: HDFC Capital Advisors Limited (HCAL), a wholly-owned subsidiary of the Corporation, has entered into a Share Subscription Agreement for the acquisition of 3,90,666 equity shares of Loyalie at Rs 28.16 per share, which post allotment, would entitle HCAL to approximately 7.20% of the equity share capital of Loyalie as on date, on a fully diluted basis.

NBCC: NBCC (India) Limited has been awarded a work order worth Rs 500 crore from the Administration of Union Territory of Ladakh for Providing Comprehensive, Design, Engineering and Project Management Consultant (PMC) Services for various works in UT Ladakh for various works. Besides, the company has also been awarded the work for Construction of 768 Units (3BHK) Social Housing Units in Hulhumale, Republic of Maldives (Pkg-II) to M/s Varindera Constructions Limited for a total contract value of around Rs 320 crore.

Jubilant Pharmova Ltd.: The integrated global pharmaceuticals company has announced that Jubilant Pharma Limited, a material wholly-owned subsidiary of the company, through one of its subsidiaries, Jubilant Cadista Pharmaceuticals Inc. has received Abbreviated New Drug Application (ANDA) final approval for Doxepin Hydrochloride Capsules, 10 mg, 25mg, 50mg, 75mg, and 100mg, the generic version of Sinequan, which is used for the treatment of anxiety, depression, and other target symptoms of psychoneurosis. 

OMCs / Paints / Cement / Steel / Shipping In Focus: The price of diesel sold to bulk users has been hiked by about Rs 25 per litre in line with a near 40 per cent rise in international oil prices, but retail rates at petrol pumps remain unchanged. 

Wockhardt Ltd: The company, through its subsidiary, has entered into a collaboration agreement with Serum Life Sciences Ltd, UK, a subsidiary of the Serum Institute of India, one of the world’s largest vaccine manufacturers to deliver a global vaccine programme from its New Facility in the UK. The collaboration will result in a profit-sharing arrangement between the two parties that will deliver upto an additional 150 million vaccine doses of multiple vaccines each year.

Thermax Limited: The company has concluded an order of Rs 1,176 crore from an Indian public sector refinery to set up their Sulphur Recovery Block on LSTK basis. The Sulphur Recovery Block includes 2 x 240 TPD Sulphur Recovery Unit (SRU) along with Tail Gas Treatment Unit (TGTU), 690 TPH Amine Regeneration Unit (ARU), 200 TPH Sour Water Stripper – phenolic and 95 TPH Sour Water Stripper non-phenolic.

SJVN: The company has secured a 100 MW Grid-connected Solar Power Project in Gujarat through Tariff Based Competitive Bidding conducted by Gujarat Urja Vikas Nigam Limited ('GUVNL'). The Project will generate 245.28 Million Units of energy annually and the cumulative energy generation over 25 years will be 6132 Million Units approximately. Further, the energy generated from this project will be procured by GUVNL for 25 years and Power Purchase Agreement between SJVN and GUVNL will be signed shortly. The tentative cost of Project development will be Rs 500 crores.

Dhanlaxmi Bank Limited: The Board of Directors at its meeting held on March 17, 2022, has inter-alia considered and approved the augmentation of paid-up capital by issue of equity shares on a rights basis for an aggregate amount not exceeding Rs 130 crore (including premium) to the eligible Shareholders of the Bank. The further details of the Rights issue including the pricing of the issue, record date, ratio and other details will be informed in due course.

Promoter Action 

Clariant Chemicals (India) Ltd: Several promoters have bought 3.36% stakes (7.76 lakh shares) of the company from the open market on March 16, 2022. 

Usha Martin Ltd: Several promoters have sold 0.08% stakes (2.50 lakh shares) of the company through the open market on March 17, 2022.

International Conveyors Ltd: Several promoters have bought 0.16% stakes (1,05,301 lakh shares) of the company from the open market from March 15-16, 2022.

G N A Axles Ltd: Several promoters have bought 0.01% stakes (3,230 lakh shares) of the company from the market on March 14, 2022.