.jpg?downsize=1080:607 "Nifty Ends Below 9,950 As ITC Drags For Second Day")
- Endurance Technologies: The auto component maker fell as much as 1 percent to Rs 997. Trading volume was 105 times its 20-day average.
- Aditya Birla Capital: The Kumar Mangalam Birla promoted firm jumped as much as 7.49 percent, the most since September 4, to Rs 218.95. Trading volume was 36.5 times its 20-day average.
- Laurus Labs: The drugmaker rose as much as 1.46 percent, the most since September 4, to Rs 554.20. Trading volume was 7.4 times its 20-day average.
Shares of country’s largest gas importer jumped as much as 3.58 percent to Rs 230 after Sri Lanka invited Petronet LNG and a Japanese company to jointly build the Island nation's first liquefied natural gas (LNG) terminal near Colombo.
Shares of the leather manufacturer fell as much as 3.4 percent, the most since August 21, to Rs 360 after Westbridge Fund sold its entire holding in the company, a broker privy to the transaction told BloombergQuint.
Westbridge sold its holding in the company via block deal at Rs 360 per share, the broker said. Trading volume was 97.6 times its 20-day average.
Shares of the housing finance company jumped as much as 4.21 percent to record high of Rs 1,317 after international brokerage house CLSA maintained its 'Buy' rating on the stock and raised its target price.
CLSA on Indiabulls Housing Finance:
- Maintain Buy; hike target price to Rs 1,500 from Rs 1,380
- Growth will be driven on ability to scale up housing loans
- IHFL has strong presence in fast-growing markets (distant suburbs of Mumbai)
Shares of the wire maker jumped as much as 16 percent to hit record high of Rs 199.80 on robust June quarter earnings.
The Mumbai-based company's net profit in June quarter jumped 75 percent to Rs 9.35 crore from Rs 5.32 crore during the same quarter last year.
The Rs 600-crore initial public offering of Noida-based consumer electronics manufacturer was subscribed fully on the second day of the bidding.
Dixon Technologies IPO subscription update:
- Retail portion subscribed 172 percent
- Qualified institutional buyers portion subscribed 140 percent
- Non-institutional investors’ portion subscribed 8.59 percent
- Total subscription stood at 121 percent
As of 12:10 P.M.
Shares of the popular two-wheeler maker Royal Enfield rose as much as 2.53 percent to hit record high of Rs 32,895 on report of acquiring Italian super-bike maker Ducati.
The Delhi-based company is planning to make a binding offer of $1.8-2 billion, a move, if succesful, will further power its portfolio, brand equity, global reach and access to technology, The Economic Times reported citing multiple sources.
PTC India saw 25 lakh shares change hands in a block deal. The stock fell 1.13 percent to Rs 117.75.
Buyers and sellers were not immediately known.
Shares of the state-run construction company jumped as much as 3.16 percent to Rs 213.85 after it won an order from Ministry of Health and Family Welfare.
The Delhi-based company won an order worth Rs 464 crore for expansion of Sports Injury Centre in New Delhi.
Shares of the education service provider jumped as much as 9 percent, the most since September 5, to Rs 149.90.
Domestic brokerage house Edelweiss in a report says the stock trades at attractive valuations and enjoys strong EBIDTA margins of 35 percent which are sustainable over long run.
The company has indicated value unlocking for shareholders through demerger of Career Point NBFC whose current assets under management stand at Rs 70 crore.
Shares of the Mukesh Ambani-led firm extended gains for the seventh day and rose as much as 1.2 percent to Rs 832.70 after the stock turned ex-bonus today in the ratio of 1:1.
Besides that, the oil refiner was also in the news after it acquired the assets of Gujarat-based Kemrock Industries & Exports Ltd. in an online auction conducted by lenders, led by Allahabad Bank on Wednesday. The acquisition marks Reliance Industries’ foray in manufacturing composites, including carbon fibre.
Among 40 analysts tracked by Bloomberg, 23 have a 'Buy' rating on the stock, 13 have a 'Hold' and the remaining four have a 'Sell' rating. The stock trades at 16.2 times trailing 12-month earnings per share.
#BQMoney | Rupee may depreciate further on breach of levels beyond 64.40, says India Forex Advisors’ Abhishek Goenkahttps://t.co/B9pmX5QxCf pic.twitter.com/E6PshzAPdH
— BloombergQuint (@BloombergQuint) September 7, 2017
Red Herring Prospectus for the initial share sale got approval by Registrar of Companies on September 6, according to company’s exchange filing.
- The initial sale of ICICI Lombard General Insurance, a unit of ICICI Bank, to offer up to 8.62 crore shares
- Offer includes sale of up to 43 lakh shares to ICICI Bank shareholders
- Company, selling shareholders to set IPO price band at least 5 working days ahead of scheduled offer period
#JustIn | Seven coaches of Howrah-Jabalpur Shaktikunj Express derail near Sonbhadra in UP, says railway spokesperson.
— BloombergQuint (@BloombergQuint) September 7, 2017
(image source: @ANI) pic.twitter.com/KeSJP2gNJV
#BQMarketsNow | 9,988 and 9,861 remain key levels in either direction for Nifty, says Sharekhan’s Gaurav Ratnaparkhihttps://t.co/B9pmX5QxCf pic.twitter.com/tenYo8QBmz
— BloombergQuint (@BloombergQuint) September 7, 2017
How Indian ADRs fared overnight.https://t.co/eiEFxfDhTA pic.twitter.com/TbUQxcaqSG
— BloombergQuint (@BloombergQuint) September 7, 2017
CLSA on Indiabulls Housing Finance
- Maintain Buy; hike target price to Rs 1,500 from Rs 1,380
- Growth will be driven on ability to scale up housing loans
- IHFL has strong presence in fast-growing markets (distant suburbs of Mumbai)
HSBC on SKF India
- Maintain Buy with target price of Rs 2,000; potential upside of 31 percent
- Remote diagnostic and India distribution centre and strong pipeline of innovative products should lead to improved operational performance
- SKF gaining market in PV/CV segment and exiting unprofitable two-wheeler segment
- Revenue to grow by 11 percent/19 percent for FY18/19
- EPS to grow by 24 percent/22 percent for FY18/19
Emkay on CESC
- Upgrade to Buy from Accumulate; hike target price by 24 percent to Rs 1,248; Upside of 19 percent
- Demerger plan is value accretive, as it would unlock value for CESC
- Revised earnings estimates for Spencer’s by 25 percent/74 percent for FY18 and FY19
- Target price factors in turnaround in Spencer and re-rating of distribution and generation business
IIFL on Thermax
- Maintain Add and target price of Rs 1,054; potential upside of 17 percent
- GST disruption to settle down by end of first half of FY18
- Company optimistic of pickup in the capex cycle by end of FY18 and in FY19
- EPS estimates cut by 6 percent/3 percent/3 percent for FY18/19/20
- Revenue/net profit to grow at CAGR of 14 percent/15 percent over FY17-20
HSBC on Aurobindo Pharma
- Maintain Buy; Cut target price to Rs 850 from Rs 856
- Maintained buy on sustained U.S. growth outlook with growth largely driven by injectables
- U.S. outlook remains steady with multiple visible launches
- Commissioning of new facilities to help in better launch rate
- DTG-combination launch and improving margin profile of European Union to support U.S. traction
- Injectables sales/overall U.S. sales to grow at CAGR of 29 percent/13 percent over FY17-19
Jefferies on Shree Cement
- Maintain Hold with target price of Rs 18,109
- Company remains on track to reach 40 metric tonne by FY19 end
- Management positive on cement demand led by housing and infrastructure
- Stock has already priced in benefits
Credit Suisse on Shriram Transport Finance
- Maintain Outperform rating with target price of Rs 1,350
- No significant update on the proposed merger with IDFC
- Management confident on 12-15 percent growth guidance
- Company remains a significantly undervalued franchise
JPMorgan on Oil & Gas
- Expect the OMC to report strong earnings in Q2FY18; H2FY18 could cool off
- Remain overweight on IOCL and BPCL; Underweight on HPCL
- RIL should also benefit from the recent surge in refining
- Large cut in IUC to benefit RIL’s telecom operations
Credit Suisse on Metals
- Iron ore and coking coal prices up 40-45 percent in last three months due to weather related disruptions
- Spike in RM cost accompanied by rising steel prices
- Steel stocks appear expensive on price-to-book, but EV per tonne still reasonable
- Prefer Tata Steel over JSW Steel on the back of 30 percent ore integration
Morgan Stanley on Metals
- Coking coal prices expected to remain flat/down marginally by end of Q2FY18
- Costs could rise for some companies on higher iron ore prices
- JSW Steel to benefit from strength in domestic steel prices and operating efficiencies
- Tata Steel remains top pick on improving fundamentals for domestic business
UBS on Telecom Sector
- Jio made good progress on distribution
- Rate of decline in recharges has slowed since March 2017
- Airtel still consumers preferred choice and top recharged brand
- Raise Jio's revenue market share estimates by 30-310 basis points over FY18-22
- Idea Cellular target price cut to Rs 95 from Rs 104
Deutsche Bank Markets Research on Telecom Sector
- 100 percent cut in IUC to reduce Airtel/Idea EBITDA by 9 percent/20 percent
- Airtel/Idea’s IUC revenue at Rs 800/350 crore in Q1FY18
- Roadmap for IUC reduction over the next few years would allay investor concerns
- DB expects IUC to reduce to 10 paise
For a complete list of stocks to watch, click here
Draghi's next step shaped by views of investors kept in the dark.https://t.co/RhoENnV0zw pic.twitter.com/aUS8XyuQxD
— BloombergQuint (@BloombergQuint) September 6, 2017
Debt-ceiling deal shakes up Treasury market braced for the worst.https://t.co/mEl06RHZhI pic.twitter.com/BNLNyvobnv
— BloombergQuint (@BloombergQuint) September 7, 2017
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