The Singapore traded SGX Nifty, an early indicator of Nifty's performance in India, was little changed at 9,236.
Your Tuesday morning briefing.https://t.co/67EfMDCOoG pic.twitter.com/6Og3zsng7r
Here are the stocks to watch out for in today's session:
- Strides Shasun: Says U.S. drug regulator successfully completed the inspection of its API facility at Cuddalore in in Tamil Nadu with zero 483 observations.
- DCB Bank: Looks to raise Rs 400 crore through QIP at a floor price of Rs 177.39
- State Bank of India: Will exercise the call option for bonds aggregating to Rs 2,523.5 crore
- Dollar Industries: L&T Mutual Fund buys 3.5 lakh shares at Rs 1,448.65 each
- Pneumatic Holdings: Receives order from NCLT sanctioning merger between Kirloskar RoadRailer Ltd., Pneumatic Holdings Ltd. and Kirloskar Pneumatic Company Ltd.
- Peninsula Land: Proposes to raise Rs 2,500 crore via non-convertible debentures on private placement basis
- DPSC: Announces OFS of 2.5 crore shares at a floor price of Rs 40 per share
- JM Financial: Board of JM Financial Asset Management approves buyback of 10 percent of its outstanding equity capital subject to shareholder approval
DCB bank may offer a discount of not more than 5% on the floor price for the QIP. https://t.co/dexZ7vXWir
Media Reports
- Reliance Industries: Reliance Trends readies for debut on Amazon, Flipkart to expand reach. (Economic Times)
- Arvind: Launches ready-to-wear brand in Gujarat, Karnataka. (Economic Times)
- Bharti Airtel: To offer services that will help users control household devices via smartphone. (Economic Times)
- Parsvnath Developers: Told to handover habitable flats in two weeks. (Economic Times)
- Adani Power, Tata Power: Experts say under-recovery of energy charges to impact both companies. (Economic Times)
- Unitech: Supreme Court likely to attach property for deposit failure. (Economic Times)
- Tata Power: May look to sell cross holdings to support Mundra plant. Company's investments in listed entities is close to Rs 1,283 crore. (Business Standard)
- Maruti: To unveil new model of Dzire on May 16. (Business Standard)
- Golden Tobacco: Says tax department quashed penalties worth Rs 80.71 crore. (Bloomberg)
- Jammu and Kashmir Bank: Board approves raising Rs 1,000 crore via debentures or bonds. (Bloomberg)
- Vascon Engineers: To consider debenture issue on April 27. (Bloomberg)
India's bad loan problem not ‘insurmountable', says Arun Jaitley. https://t.co/Ft4gyhFYsd pic.twitter.com/Ysjy4GoM3R
Brokerages Reports
- Reliance Industries: Cut to 'Reduce' at HSBC with a price target of Rs 1,170
- ACC: Raised to 'Hold' at HSBC with a price target of Rs 1,680
- Mahindra and Mahindra: Raised to 'Outperform' at Credit Suisse with a price target of Rs 1,500
- Equitas Holdings: Rated a new 'Buy' at HSBC with a price target of Rs 194
- Gujarat Petronet: Cut to 'Neutral' at IDFC Securities
- Bharat Forge: Cut to 'Accumulate' at Prabhudas Lilladher
Source: Bloomberg
Oil prices fall for sixth straight day.https://t.co/H7LBDMVMtG pic.twitter.com/n32XnXOq8I
Earnings Reaction To Watch
Reliance Industries Q4
- Consolidated net profit up 7 percent to Rs 8,053 crore compared to Rs 7,524 crore year-on-year
- Consolidated revenues grew 10.3 percent to Rs 92,889 crore from Rs 84,189 crore
- Gross Refining Margins at $11.5 per barrel
- Declared a dividend of Rs 11 per share
Rallis India Q4
- Revenue fell 1 percent to Rs 366 crore from Rs 370 crore year-on-year
- Net profit fell 10 percent to Rs 31 crore from Rs 34.4 crore last year
Indiabulls Housing Finance Q4
- Net profit up 24 percent to Rs 840.53 crore compared to Rs 675.5 crore last year
- Revenue increased 31.2 percent to Rs 2,931.39 crore
- Provisioning for bad loans increased to Rs 238.42 crore against Rs 135.2 crore last quarter
- To pay interim dividend of Rs 9 per share
All you need to know about RIL earnings. https://t.co/4DQgs41VFy pic.twitter.com/1dyL3EMyco
Earnings To Watch
- Wipro: Q4 revenue at Rs 13,817 crore; net profit at Rs 2,122.6 crore.
- IDFC Bank: Q4 net interest Income at Rs 529 crore; net profit at Rs 132 crore.
- ICICI Prudential Life Insurance: Q4 net profit at Rs 1,762 crore for FY17
Why did NCLT dismiss Mistry's petitions? @VarunAcj reports. https://t.co/REqK96EMef pic.twitter.com/b0DAwp91iZ
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