An air-traffic controller monitors flights inside a control center at Indira Gandhi International Airport (IGI) in Delhi, India. (Photographer: Prashanth Vishwanathan/Bloomberg)
The Singapore traded SGX Nifty, an early indicator of Nifty's performance in India, fell 0.2 percent to 9,324.
Your Thursday morning briefing.https://t.co/tW4GKhYgDx pic.twitter.com/pCl16cRRc4
Here are the stocks to watch out for in today's session:
Max Ventures and Industries
- To invest Rs 90 crore in its subsidiary Max Estates Ltd.
- Max Estates is the owner of Wise Zone Builders Pvt. Ltd.
- Wise Zone has a sub-lease area of 3,352 square meters in Noida
- Wise Zone is in the process of construction and development of a commercial built-up area
Seshasayee Paper and Boards
- Allowed to use only 50 percent of the orignial sanctioned quantity of water from River Thamirabharani for industrial use
- Rest of the requirement will be met through ground water resources
Time Technoplast
- Ashish Kacholia buys 25 lakh shares or 1.1 percent stake at Rs 115 each
- RBA Finance and Investment buys 19.46 lakh shares or 0.86 percent stake at Rs 115.2 each
- American Funds Ins Series Global Small Capitalization Fund sells 55 lakh shares or 2.4 percent stake at Rs 115.2 per share
Cabinet approves #NationalSteelPolicy; government backs local steel for public projects. @SteelMinIndia https://t.co/cGTyCbuSSH pic.twitter.com/vwbEpnR2eX
SH Kelkar Enterprises
- Morgan Stanley France Sa buys 9.7 lakh shares or 0.67 percent stake at Rs 306 per share
- Tarish Investment and Trading Company Pvt. Ltd. buys 11.09 lakh shares or 0.77 percent stake at Rs 306 per share
- Hober Mallow Trust buys 12 lakh shares or 0.83 percent stake at Rs 306 per share
- Kotak Funds India Midcap Fund buys 12 lakh shares or 0.83 percent stake at Rs 306 per share
- Prazim Trading and Investment Company Pvt. Ltd. buys 20.59 lakh shares or 1.42 percent stake at Rs 306 per share
- Wells Fargo Lux Worldwide Fund Emergins Markets Equity Fund buys 23.35 lakh shares of 1.61 percent stake at Rs 306 per share
- Blackstone Capital Partners Singapore Vi Fdi Two Pte Ltd. sells 1.09 crore shares or 7.5 percent stake at Rs 306.06 per share
- Brigade Enterprises: Raised Rs 500 crore after issuing 2.19 crore shares to qualified institutional buyers at an issue price of Rs 227.50 each
- Suzlon: Board approves allotment of 1.36 crore equity shares to FCCB holders
- Bank of Maharashtra: To issue 8.88 crore shares to Government of India at Rs 33.75 per share
- Bombay Burmah: Redeemed commercial papers worth Rs 50 crore and issued additional commercial papers worth Rs 50 crore
- Union Bank of India: Raised Rs 500 crore via issue of debentures on private placement basis
- Capital First: Raised Rs 290 crore via issue of NCDs on private placement basis
- BPL: To sell its consumer durables and appliance portfolio on Amazon
- IRB Infra: InvIT Fund IPO subscribed 7 percent on the first day
Cabinet approves government's exit from three ITDC hotels.https://t.co/oxqOh1mCzu pic.twitter.com/71hoecn76B
Media Reports
- GMR Infrastructure: In the race for $800 million airport project in Philippines. (Mint)
- M&M: Stops electric car sales in the U.K. (Mint)
- Deccan Cements: To consider stock split on May 19. (Bloomberg)
- Arvind: To consider raising up to Rs 500 crore via debentures on May 11. (Bloomberg)
- Idea Cellular: To consider enabling resolution for borrowing. (Bloomberg)
L&T Technology Services profit declines, margins shrink in January-March quarter, reports @azmanusmani.https://t.co/nzibiKyJOz pic.twitter.com/J95gOV85rt
Earnings Reaction To Watch
ICICI Bank (Q4, YoY)
- Net profit up 188 percent to Rs 2,024.64 crore compared to Rs 701.9 crore
- Net Interest Income up 10 percent to Rs 5,962.2 crore compared to Rs 5,404.6 crore
- Provisions up 6.8 percent at Rs 2,898.2 crore compared to Rs 2,712.7 crore (QoQ)
- Gross NPA up to 7.89 percent compared to 7.2 percent (QoQ)
L&T Technology Services (Q4, QoQ)
- Net profit down 11 percent to Rs 96.5 crore compared to Rs 108.6 crore
- EBITDA down 8 percent to Rs 133.8 crore compared to Rs 145.7 crore
- EBITDA Margins contract to 16.5 percent from 18 percent
V-Mart Retail (Q4, YoY)
- Net profit up 10 times at Rs 5 crore compared to Rs 50 lakh
- Revenues up 42 percent at Rs 252.6 crore compared to Rs 178.1 crore
- EBITDA Margins expand to 5.3 percent from 3 percent
IG Petrochemicals (Q4, YoY)
- Net profit up 134 percent to Rs 28.06 crore compared to Rs 11.9 crore
- Revenues up 35 percent to Rs 289.3 crore compared to Rs 214.4 crore
- EBITDA Margins expand to 16 percent from 11 percent
Dewan Housing's January-March profit surges on one-time gain. https://t.co/LvuBdBGoB8 pic.twitter.com/26jBvo6KQn
Brokerage Calls
- Asian Paints: Raised to 'Buy' at Dolat Capital Market
- Power Grid: Raised to 'Buy' at Dolat Capital Market with price target of Rs 225
- TCS: Cut To 'Sell' at Dolat Capital Market
- ICICI Bank: Raised To 'Buy' at Sharekhan with price target of Rs 320
- Ambuja Cements: Raised to 'Hold' at Arihant Capital Markets with price target of Rs 266
- Coromandel International: Raised to 'Neutral' at IDFC Securities with price target of Rs 379
Marico
- Cut to 'Hold' at Reliance Securities with price target of Rs 300
- Raised to 'Hold' at Jefferies with price target of Rs 290
- Cut to 'Neutral' at HDFC Securities with price target of Rs 325
- Cut to 'Sell' at Dolat Capital Markets with price target of Rs 300
Source: Bloomberg
Exposure to Jaiprakash Associates continues to shake up Indian lenders, reports @visshy_it.https://t.co/HJFKuehkRr pic.twitter.com/g7v8xeiq4C
Earnings To Watch Today
HDFC (Q4FY17 Estimates, YoY)
- Net profit may decline 22.4 percent to Rs 2,023 crore
- Loan growth to remain moderate at 12-15 percent
- Asset quality trend likely to be benign
Emami (Q4FY17 Estimates, YoY)
- Net profit may rise 42 percent to Rs 15 crore
- Revenue seen 5.7 percent lower at Rs 633 crore
- EBITDA margins may expand to 30.2 percent from 27.3 percent
Godrej Properties (Q4FY17 Estimates, YoY)
- Net profit seen rising four-fold to Rs 73 crore
- Revenue seen up 6 percent to Rs 537 crore
- EBITDA seen two-fold higher at Rs 124 crore
L&T Finance Holdings (Q4FY17 Estimates, YoY)
- Net profit seen 17 percent higher at Rs 277 crore
- Credit costs to remain high in-line with guidance
Oberoi Realty (Q4FY17 Estimates, YoY)
- Net profit likely to rise 36 percent to Rs 88 crore
- Revenue seen up 18 percent to Rs 265 crore
- EBITDA seen up 29 percent to Rs 133 crore
Strong Rupee may allow India to ease outbound investment rules, reports @anir_nag.https://t.co/4ahoovcwUK pic.twitter.com/7qO4TVPWyL
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