- Punj Lloyd gets EPC order worth Rs 505.2 crore in Odisha from NHAI.
- Wipro and Adobe expand partnership to offer enhanced digital services and solutions.
- IDFC Bank-Capital First merger gets NSE approval.
- Future Enterprises hikes stake in subsidiary Future E-commerce Infrastructure to 86.71 percent from 70.43 percent.
- Cipla completes stake sale in UAE joint venture.
- Bandhan Bank shares to start trading after IPO
Stocks in Asia followed their U.S. counterparts higher on signs that an escalation of trade tensions was beginning to ease.
The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, rose 0.2 percent at 10,174.50 as of 7:20 a.m.
Here Are The Stocks To Watch Out For In Tuesday’s Trade
- PFC board approved Rs 57,000 crore market borrowing plan for the next financial year.
- Punj Lloyd got EPC order worth Rs 505.2 crore in Odisha from NHAI.
- Arihant Superstructures signed MOU with Maharashtra government to develop affordable housing project in Navi Mumbai.
- Wipro and Adobe expand partnership to offer enhanced digital services and solutions.
- NMDC to pay interim dividend of Rs 4.3 per share.
- Dilip Buildcon declared L1 for four new HAM projects in Karnataka and Maharashtra worth Rs 4,114.5 crore.
- KNR Constructions bagged two HAM projects worth Rs 2,964 crore from NHAI.
- IDFC Bank–Capital First merger received NSE approval.
- Mindtree launched “Decision Moments” platform to help markets drive faster conversions and increase customer lifetime value.
- Brigade group unveiled Brigade Financial Centre at GIFT City.
- Precision Camshafts to acquire 76 percent stake in Germany based MFT Motoren und Fahrzeugtechnik GmbH.
- Future Enterprises hiked stake in subsidiary Future E-commerce Infrastructure to 86.71 percent from 70.43 percent.
- Tata Metaliks said that the operations to be impacted due to shutdown of one of the blast furnaces at Kharagpur Plant.
- Dolphin Offshore-consortium won order worth Rs 154 crore from ONGC.
- Cipla completed stake sale in UAE joint venture.
New Offerings
- Bandhan Bank to list on exchanges with a base price of Rs 375 per share. The issue was subscribed 14.6 times.
- Lemon Tree Hotels IPO continues on day 2. The issue is subscribed 0.25 times
- ICICI Securities fully subscribed after issue size cut to Rs 3,500 crore from Rs 4,000 crore earlier as retail and High Networth Investors stay away.
F&O Setup
- Nifty March Futures closed trading at 10,146 premium 15.6 points versus 6 points.
- Nifty April futures closed trading at 10,178 with a premium 47.7 points from 49.6 points.
- All series: Nifty open interest down 2 percent, Bank Nifty open interest down 9 percent.
- Rollover: Nifty 41 percent, Bank Nifty 24 percent.
- India VIX ended at 15.1, down 2.2 percent.
- Max open interest for March series at 10,500 call strike (open interest at 47.8 lakh, down 12 percent).
- Max open interest for March series at 10,000 Put (open interest at 61.3 lakh, up 18 percent).
F&O Ban
- In ban: IFCI, Jet Airways, JP Associates, Oriental Bank
- New in ban: JP Associates
- Out of ban: HDIL, IDBI Bank
Only intraday positions can be taken in stocks which are in F&O ban. There is a penalty in case of a rollover of these intraday positions.
Active Stock Futures
X
Bulk Deals
- MT Educare: Kitara India Microreo Cap Growth Fund sold 3.70 lakh shares or 0.9 percent equity at Rs 70 each.
- Shaily Engineering Plastics: HDFC MF bought 50,000 shares or 0.6 percent equity at Rs 1,150 each.
- Venky’s: Dr Cyrus Poonawalla bought 83,186 shares or 0.6 percent equity at Rs 3916.60 each.
Acrysil
- Ashish Kacholia bought 2.21 lakh shares or 4.3 percent equity at Rs 486 each.
- Everest Finance & Investment Co sold 2.21 lakh shares or 4.3 percent equity at Rs 486 each.
Carborundum Universal
- Reliance Small Cap Fund bought 20.20 lakh shares or 1.1 percent equity at Rs 337 each.
- Promoter Ambadi Investments Ltd sold 25 lakh shares or 1.3 percent equity at Rs 337 each.
TCPL Packaging
- Vijay Kedia sold 98,000 shares or 1.1 percent equity at Rs 600 each.
- Vighnahar Holdings Pvt Ltd bought 98,000 shares or 1.1 percent equity at Rs 600 each.
TD Power Systems
- MSD India Fund bought 8.56 lakh shares or 2.6 percent equity at Rs 185.06 each.
- India Value Fund IV sold 7.55 lakh shares or 2.3 percent equity at Rs 185.14 each.
Elpro International
- IGE (India) Pvt Ltd bought 15 lakh shares or 1.1 percent equity at Rs 47.5 each.
- Elara India Opportunities Fund sold 11 lakh shares or 0.8 percent equity at Rs 47.5 each.
Transpek Industry
- Hypnos Fund ltd bought 1.09 lakh shares or 2 percent equity at Rs 1,239.73 each.
- Ruchit Patel sold 88,454 shares or 1.6 percent equity at Rs 1239.22 each.
T I Global
- SMIFS Capital Marchkets bought 49,000 shares or 1 percent equity at Rs 68.5 each.
- Maya Trade Links sold 49,559 shares or 1 percent equity at Rs 68.5 each.
International Conveyors
- IGE (India) Pvt Ltd bought 13.89 lakh shares or 2.1 percent equity at Rs 21.5 each.
- Elara India Opportunities Fund sold 11 lakh shares or 1.6 percent equity at Rs 21.5 each.
Brokerage Radar
Citi on Voltas
- Maintained ‘Buy’ with a price target of Rs 744.
- Indian AC market is at an inflection point.
- Daikin is a formidable competitor for Voltas.
- Daikin has set aggressive growth targets.
- Daikin planning to set up third plant to grow.
- Daikin has been a front-runner in R&D spending.
- Voltas has successfully defended its turf in the past.
- Voltas top India consumer electrical pick.
Citi on Cipla
- Maintained ‘Buy’ with a price target of Rs 680.
- Cipla launched an authorized generic version of Roche’s Aloxi.
- Expect gAloxi to be 3-4 player market for six months.
- Low gross margins but operating leverage upside.
- FY19 could be a year of inflection in U.S. for Cipla.
- Cipla continues to stand out among peers in difficult times.
- Cipla continues to be top pick in the sector.
Morgan Stanley on Cadila
- Maintained ‘Overweight’ with a price target of Rs 560.
- Cadila announced USFDA approval of gToprol-XL; Market size of $700 million.
- Product to help cushion gLialda/gTamilflu's upcoming normalization.
- Expect more such launches over the next few quarters.
- Launches to help re-rate the stock.
Jefferies on Syngene
- Maintained ‘Buy’ with a price target of Rs 760.
- Signs strategic deal with GSK.
- Strong client addition provides growth visibility.
- Pace of addition is a positive sign on earnings delivery.
- Believe Syngene is best placed to gain market share.
- Premium valuations to sustain given the structural growth drivers and strong execution.
Antique on NBCC (India)
- Initiated ‘Buy’ with a price target of Rs 276; implying a potential upside of 45 percent from the last regular trade.
- NBCC’s order backlog has swelled to an all-time high.
- NBCC’s competitive edge is protected by legislations.
- Expect compounded growth rate of 63 percent in revenue.
- Revenue recognition is clustered around March 2020.
- Current valuation attractive
INDSEC on Future Consumer
- Initiated ‘Buy’ with a price target of Rs 69; implying a potential upside of 33 percent from the last regular trade.
- Catering to changing consumption patterns through consumer centric approach.
- Modern trade driven distribution network.
- Diverse Product portfolio catering to niche segments.
- Expect revenue to grow at a compounded rate of 42 percent over the fiscal 2017-2020.
- Expect operating income to grow by 2.2 times between fiscal 2017-2020.
- Expect loss in the current fiscal as well; Expect net profit in the next financial year.
- Future Consumer could trade at better valuations going ahead.
Morgan Stanley on Banks
- Borrowing calendar for the second half of the next fiscal has meaningful positive for PSU banks.
- Borrowing budgeted is just 48 percent of annual budget.
- Government intends to increase issuances in short and long-term maturity bucket.
- Reduce medium-term issuance segment of 10-14 years to around 29 percent.
- RBI and government in final stage of discussions for increasing FPI limit.
- SBI preferred pick among PSU banks.
Trading Tweaks
- East India Securities circuit filter revised to 20 percent.
- GAIL India ex-date for 1:3 bonus issue. F&O lot size revised to 2,667.
- Oil India ex-date for 1:2 bonus issue. F&O lot size revised to 3,399.
- Kellton Tech Solutions ex-date for 1:1 bonus.
- Talwalkars Better Value Fitness ex-date for demerger.
Who’s Meeting Whom
- Purvankara to meet Fidelity Mgmt & Research on March 27.
- Bodal Chemicals to meet Mahindra AMC on March 27.
- PI Industries to meet Taiyo Pacific Partners and Narnolia Securities on March 27.
- AIA Engineering to meet Edelweiss Securities on March 27.
- Rallis India to meet Franklin Templeton MF on March 27.
- Vakrangee to meet investors on March 27 and 28 in Singapore.
- Magma Fincorp to meet several fund houses including Goldman Sachs, Samsung AMC, Marchshall Wace from March 27–29.
- VRL Logistics to meet ICICI Prudential AMC on March 27.
- Astra Poly Technik to meet ICICI Prudential MF and Emkay Global Financial Services on March 27.
- TVS Motors to meet Goldman Sachs on March 28.
- Pidilite to meet Axis Capital on March 28.
Insider Trades
- Chambal Fertilizers promoter Mrs Nandini Nopany sold 2.75 lakh shares on March 23.
- Cerebra Integrated Techologies promoters acquired 35,072 shares on March 23.
- V2 retail promoter Vishal Waterworld acquired 80,207 shares from March 22–23.
- Man Infra promoter Vatsal Shah acquired 68,500 shares on March 23.
- Lasa Supergenerics promoter Svaks Biotech India Pvt Ltd sold 30,816 shares from March 19–20.
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