A trader watches a quote screen minutes before the start of trading on the floor of the New York Stock Exchange. (Photographer: Daniel Acker/Bloomberg News.)
- Hindalco subsidiary Novelis reports strong first quarter and guidance
- Tata Steel revenues up by 19 percent at Rs 29,557 crore
- Bharti Airtel to sell 3.7 percent stake in Bharti Infratel
- Idea-Vodafone deal gets SEBI's conditional go-ahead
- GAIL seeks reworking of U.S. LNG price deal
The Singapore-traded SGX Nifty, an early indicator of Nifty 50's performance in India gained 0.1 percent to 10,102.
All you need to know going into trade this Tuesday.https://t.co/blEnXlKKCl pic.twitter.com/2T0b5ys6yY
Here are the stocks to watch out for in today's session:
- Hindalco: Subsidiary Novelis reports strong Q1 and Guidance
- Bharti Airtel: To sell shares worth $400 million in Bharti Infratel
- Idea Cellular: Vodafone deal gets conditional go-ahead from SEBI
- Dr Lal PathLabs: To buy 70 percent stake in a Bangladeshi company
- GAIL: Seeks reworking of U.S. LNG price deal
Slow start to RERA as 11 states yet to notify final rules, reports @azmanusmani.https://t.co/ALKe5jn3wL pic.twitter.com/NCtJ5ssaJM
Other Corporate Announcements
- Natco Pharma: Two directors resign from the board
- Karur Vysya Bank: Cuts MCLR by 5 basis points
- Salasar Technologies: Moved to ‘B' group with 20 percent circuit filter
- Dwarikesh Sugar: Circuit filter revised to 10 percent
- JSW Steel: Says it continues to evaluate various opportunities as a long-term strategy on reports of its joint bid for Bhushan Steel
#Q1WithBQ | Hindalco Arm Novelis' net income jumps four-fold in Q1.https://t.co/qiI1vVjrsA pic.twitter.com/039Q2E1P9J
Today's Nifty Call
Bulk Deal
GPT Infraprojects
- Equity Intelligence bought 6.4 lakh shares or 4 percent stake at Rs 125.68 each
- EQ India Fund bought 2.4 lakh shares or 2 percent stake at Rs 125.74 each
- Nine rivers capital sold 20 lakh shares or 14 percent stake at Rs 125.68 each
HDIL
- Lord Abbett Securities Trust sold 30.68 lakh shares or 0.7 percent stake at Rs 71.78 each
- Societe Generale sold 25.32 lakh shares or 0.6 percent stake at Rs 70.92 each
- Centrum Capital: Centrum ESPS Trust sold 94 lakh shares or 2.3 percent stake at Rs 45.69 each
- Gokaldas Exports: Seraphic management & advisory Pvt. Ltd. bought 2 lakh shares or 0.6 percent stake at Rs 95.99 each
As many as 27 public sector banks have written off Rs 81,683 crore in 2016-17 alone.https://t.co/nfXyYRMQVT pic.twitter.com/AjuLE3KDg0
F&O Setup
- Nifty futures premium moves to 34 points from 42 points
- Nifty futures adds 2.4 lakh shares in open interest
- Nifty range for August series in terms of open interest concentration between 10,000 to 10,200
- Maximum Call open interest shifts to 10,200 from 10,500
- Maximum Put open interest at 10,000 strike followed by 9,800 strike
- Open Interest addition seen on call strikes of 10,100 & 10,200
- Open Interest addition seen on Put strikes of 10,000, 10,100
Active Stock Futures
- Repco Home Finance: Sees open interest addition of 76 percent on short side
- Apollo Tyres: Sees open interest addition of 33 percent on long side
- Britannia: Sees open interest addition of 30 percent on long side
- Arvind: Sees open interest addition of 23 percent on long side
- Bharti Infratel: Sees open interest addition of 14 percent on short side
- Manappuram Finance: Sees open interest addition of 13 percent on long side
- Sun TV: Sees open interest addition of 12 percent on short side
Stocks In F&O Ban
- HDIL
- Indiabulls Real Estate
- India Cements
- Jaiprakash Associates
- JSW Energy
- Kaveri Seed
- Wockhardt
Britannia will increase prices to pass on higher raw material costs, reports @sharleendsouza.https://t.co/uGcP0zriJj
Earnings Reactions To Watch
Tata Steel (Q1, YoY)
- Revenues up 19 percent to Rs 29,557 crore
- EBITDA up 52 percent to Rs 4,974 crore
- EBITDA Margin expanded to 17 percent from 13 percent
- Net profit of Rs 921 crore from loss of Rs 3,183 crore
Goodricke Group (Q1, YoY)
- Net profit up 57.1 percent to Rs 22 crore
- Revenue up 23.9 percent to Rs 152 crore
- EBITDA up 65.5 percent to Rs 23 crore
- EBITDA Margin at 15.1 percent from 11.3 percent
Grauer & Weil (Q1, YoY)
- Net profit down 5.9 percent to Rs 12.8 crore
- Revenue up 13.6 percent to Rs 117 crore
- EBITDA up 3.5 percent to Rs 21 crore
- EBITDA margin narrowed to 19.6 percent from 21.5 percent
Polaris Consulting (Q1, QoQ)
- Net profit down 9.1 percent to Rs 30 crore
- Revenue down 2.4 percent to Rs 555 crore
- EBITDA up 3.1 percent to Rs 46.5 crore
- EBITDA margin expanded to 8.4 percent from 7.9 percent
Nilkamal Ltd (Q1, YoY)
- Net profit down 30.4 percent to Rs 22 crore
- Revenue up 5.7 percent to Rs 524 crore
- EBITDA down 25.5 percent to Rs 43 crore
- EBITDA margin narrowed to 8.9 percent from 12.6 percent
Merck (Q2, YoY)
- Net profit down 11.9 percent to Rs 20 crore
- Revenue down 4 percent to Rs 266 crore
- EBITDA down 17.6 percent to Rs 28 crore
- EBITDA margin contracted to 10.8 percent from 12.7 percent
Saksoft (Q1, YoY)
- Net profit down 19.6 percent to Rs 4.5 crore
- Revenue up 1.6 percent to Rs 65 crore
- EBITDA down 19.4 percent to Rs 7.5 crore
- EBITDA margin narrowed to 11.5 percent from 14.5 percent
#Q1WithBQ | Tata Steel profit jumps more than four-fold on asset sales, report @arundhati_05 and @onlynickey.https://t.co/Ovee1b8lcZ pic.twitter.com/H5QwMUeOTL
Brokerage Radar
Britannia
- JPMorgan maintained an 'Overweight' rating with price target Rs 3,650
- Nomura maintained its 'Buy' on the stock and hiked price target to Rs 4,760 from Rs 3,853
- Amara Raja Batteries: Nomura retained a 'Buy' rating on the stock with Rs 1,009 as the price target
- Whirlpool India: Deutsche Bank reiterated its 'Hold' rating on the stock with price target Rs 1,020
- L&T Infotech: IIFL initiated coverage on the stock with a 'Buy' rating and Rs 920 price target
- Sintex Plastics: Ventura Securities maintained a 'Buy' rating with Rs 196 as the price target
- Hindalco: Morgan Stanley reiterated its 'Overweight' rating with price target Rs 241
Tata Steel
- CLSA retained a 'Buy' rating with price target hiked to Rs 800 from Rs 710
- Credit Suisse maintained its 'Outperform' rating and hiked price target to Rs 720 from Rs 650
- Morgan Stanley retained an 'Overweight' on the stock with Rs 625 price target
- Axis Capital maintain a 'Buy' rating with price target Rs 600
- Citi Securities: Retained its 'Buy' rating on the stock and raised price target to Rs 740 from Rs 600
- Edelweiss Securities: Reiterated its 'Buy' rating and hiked price target to Rs 720 from Rs 650
- IDFC Securities maintained an 'Outperform' on the stock and raised price target by 6.6% to Rs 623
- Jefferies maintained 'Underperform' and hiked price target to Rs 440 from Rs 414
- JPMorgan retained its 'Overweight' rating and raised price target to Rs 770 from Rs 690
Overbought Nifty 50 stocks at highest level in 11 months, reports @jayeshkhilnani.https://t.co/TZLXk7zw0y pic.twitter.com/BFhmQeQhvU
Media Reports
- Idea Cellular: Idea-Vodafone merger gets SEBI nod. (Mint)
- Bharti Airtel: To sell stak in Bharti Infratel upto Rs 2,552 crore. (Financial Express)
- Maruti Suzuki: Puts troubles behind as sales, shares surge. (Mint)
- Britannia: Plans its largest plant in Maharastra. (Financial Express)
- Hindalco: Board to consider raising Rs 4,400 crore via debt. (Financial Express)
- USL: To raise Rs 750 crore from market to balance debt. (Business Standard)
- Bank Of India: To raise up to Rs 626 crore via STCIF stake sale. (Business Standard)
- Reliance Capital: To file draft red herring prospectus for mutual fund arm. (Economic Times)
- ITC: LIC will have to prune stake in ITC and L&T to 15 percent. (Economic Times)
- Adani Realty: ADIA, Blackstone vie for Rs 1,600 crore Adani business park deal in Mumbai. (Times of India)
- NTPC: To buy out Uttar Pradesh government stake in Meja power Joint venture. (Time of India)
- M&M: Chairman Anand Mahindra's salary up 16.38 percent to Rs 7.67 crore in FY17. (Economic Times)
- Air India: Government to float request for proposal for merchant bankers over Air India disinvestment. (PTI)
China's Tencent and Alibaba bring digital red envelope war to India, reports @nsd308.https://t.co/1usKlAWDXu pic.twitter.com/C7QLJPyDpO
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
