Traders work at the new Nasdaq Inc. trading floor of the Philadelphia Stock Exchange (PHLX) inside FMC Tower in Philadelphia, Pennsylvania, U.S. (Photographer: Charles Mostoller/Bloomberg)
The Singapore traded SGX Nifty, an early indicator of Nifty's performance in India, gained 0.2 percent to 9,334.
Your Monday morning briefing.https://t.co/kfjx64nWXk pic.twitter.com/LIfAavmapu
Here are the stocks to watch out for in today's session:
Ambuja Cement
- Board mulls possibility of merger with ACC; sets up a special committee for the same
- No decision regarding the merger has been taken yet
- Merger to create India's second largest cement maker
Bosch
- Resumes operations at its Adugodi unit
- Had temporarily shut its Adugodi unit from May 5 after a public notice issued by the Karnataka State Pollution Control Board (KSPCB)
- Notice for closure of all industrial units around the Bellandur lake in Bengaluru
- KSPCB then clarified that the provisions of the public notification do not apply to this facility post the company making a representation to the authorities
Container Corporation of India
- Signs four MoUs during the India Integrated Transport and Logistics Summit, 2017
- Signs two tripartite MoUs with the State Government and NHAI for development of MMLPs at Hyderabad and Surat
- One MoU signed with Paradip Port for development of a Multi-modal logistics park (MMLP)
- One MoU signed with CHennai Port for the development of an extended gate facility at the company's facility at Tondiarpet to ease the congestion at the Chennai port.
Patel Engineering
- Approves transfer of beneficial interest in certain claims and receivables for various projects and some real estate parcels worth Rs 2,500 crore
- Transfer to be done to wholly-owned subsidiaries and Special Purpose Vehicles (SPVs) to be incorporated by the company
- Board also approves 51 percent investment proposal in the new entities from Eight Capital Group
NDTV
- Board approves sale of equity stake held by subsidiaries in NDTV Ethnic Retail for Rs 3.65 per share to Nameh Hotels and Resorts Pvt. Ltd.
- Board also approves sale of equity stake held by subsidiary in Lifestyle Holdco for Rs 17.72 per share to Nameh Hotels Pvt. Ltd.
Banks and commodities will lead the next leg of earnings growth, says Mark Matthews.https://t.co/MeV41M344k pic.twitter.com/Qt2POXGXZM
- Maruti Suzuki: Opens bookings for its new Dzire car
- TCS: Launches its first drones research lab in Cincinnati, Ohio
- Bank of Baroda: Retails one-year MCLR at 8.35 percent
- Canara Bank: Reduces overnight, 1-month and 3-month MCLR by 5 basis points
- Bank of Maharashtra: Keeps MCLR unchanged
- Bombay Rayon: Issued 14.79 lakh shares at Rs 165.88 per share to lenders against terms loans taken by the company
- Indian Bank: To seek approval for raising of equity capital by issuing 4.75 crore equity shares through various methods at its AGM on June 12
- Bedmutha Industries: Received letter of award for tenders worth Rs 198.61 crore from Madhya Pradesh Kshetra Vidyut Vitaran Co. Ltd.
- Parag Milk Foods: Enters into a beverage market with the launch of its new product named 'slurp'
- SMS Pharmaceuticals: Increases its total holding to 41.52 percent in VKT Pharma by investing an additional Rs 1.5 crore at Rs 225 per share
- Mahindra Lifespace: Allots 1.02 crore equity shares of face value of Rs 10 each at a price of Rs 292 on a rights basis
- Hindustan Dorr-Oliver: Initiates Corporate Insolvency Resolution Process (CIRP) under the provision of the Insolvency and Bankruptcy Code 2016 by an order of the National Company Law Tribunal with effect from April 21, 2017
- Beardsell: To issue bonus shares in the ratio of 1:5
- Veto Switchgears and Cables: To issue 45 lakh convertible warrants to promoter group entities, raising close to Rs 78 crore at current market price
- NMDC: Produced a total of 2.98 million tonnes and sold 3.56 million tonnes of iron ore in April 2017
- State Bank of India: Seeks shareholder nod to appoint four independent directors
.@TataMotors expects 15% growth in commercial vehicles exports.https://t.co/qHCgX6yrlw pic.twitter.com/VCvhhxbzhs
PSU Bank Reshuffle
- Punjab National Bank: Sunil Mehta appointed as new Managing Director and Chief Executive Officer instead of Usha Ananthasubramanian
- Union Bank of India: G Rajkiran Rai appointed as new Managing Director and Chief Executive Officer
- Bank of India: Dinabandhu Mohapatra appointed as new Managing Director and Chief Executive Officer
- Indian Overseas Bank: R Subramaniakumar appointed as new Managing Director and Chief Executive Officer
- Vijaya Bank: A Sankara Narayanan appointed as new Managing Director and Chief Executive Officer
- Allahabad Bank: Usha Ananthasubramanian appointed as new Managing Director and Chief Executive Officer
- Syndicate Bank: Bank of India's Melwyn Rego appointed as new Managing Director and Chief Executive Officer
Finance Ministry makes sweeping changes to the top rung of management at 7 public sector banks.@alexandermats https://t.co/U8wFk8w4M5
Earnings Post Market Hours
Eicher Motors (Q4, YoY)
- Consolidated net profit up 34 percent at Rs 459.3 crore
- EBITDA up 31 percent at Rs 585 crore
- EBITDA Margins expand to 27.4 percent compared to 25.9 percent
- Announces a final dividend of Rs 100 per share
Apollo Tyres (Q4, YoY)
- Net profit down 16 percent at Rs 228.2 crore
- EBITDA down 25.5 percent at Rs 369.9 crore
- EBITDA margins contract to 10.3 percent compared to 15.2 percent
- To issue NCDs worth Rs 1,500 crore post shareholder approval
Shoppers Stop (Q4, YoY)
- Net loss of Rs 36 crore compared to a net profit of Rs 10 crore
- Exceptional loss of Rs 47.8 crore of which Rs 36 crore was an impairment loss from diminution in value of investment in subsidiary Hypercity Retail and Rs 11.8 crore in NGIPL
- EBITDA up 5 percent at Rs 52.51 crore
- EBITDA margins flat at 5.8 percent compared to 5.6 percent
Equitas Holdings (Q4, YoY)
- Net profit down to Rs 6.9 crore from Rs 46.77 crore
- Net Interest Income up 30 percent at Rs 221.4 crore
- Gross NPAs at 3.53 percent compared to 2.46 percent (QoQ)
- Provisions at Rs 36.5 crore compared to Rs 29.1 crore (QoQ)
- Additional provision of Rs 35.84 crore made in impaired microfinance portfolio
Monsanto India (Q4, YoY)
- Net profit up 25 percent at Rs 30 crore compared to Rs 24 crore
- EBITDA up 118 percent to Rs 34.65 crore compared to Rs 15.82 crore
- EBITDA Margins expand to 25 percent from 18 percent
D-Mart parent Avenue Supermarts reports 50% profit jump in January-March quarter.https://t.co/TYiGq4b9DX pic.twitter.com/jqgGK5WGJH
Media Reports
- Walchandnagar Industries: KKR to invest a sum of Rs 300 crore. (Economic Times)
- Indian Hotels: SBI Capital Securities to auction Taj Mansingh. (Business Standard)
- ONGC: ONGC Videsh produced a record 12.57 metric tonnes of crude and equivalent gas in FY17. (Business Standard)
- Reliance Infra: Files fresh InvIT IPO papers after reducing the issue size to Rs 2,500 crore from Rs 3,000 crore. (Mint)
- NCC: Wins first contract for Pune metro project. (Financial Express)
Bulk Deals
DB Corp
- ICICI Prudential Life Insurance Company buys 33.24 lakh shares or 1.8 percent stake at Rs 350 each
- Amansa Holdings Pvt. Ltd. sells 37.73 lakh shares or 2.05 percent stake at Rs 350.07 each
Sadbhav Infrastructure
- Nomura Asset Managemehnt Singapore Ltd., Astro Trust Series Triceratop buy 1.32 crore shares or 3.75 percent stake at Rs 104.5 each
- Amansa Investment Ltd. sells 1.32 crore shares or 3.75 percent stake at Rs 104.5 each
Byke Hospitality
- Wasatch Advisors buy 9.86 lakh shares or 2.5 percent stake at Rs 210 each
- Alken Management and Financial Services Ltd. sells 3.77 lakh shares or 0.95 percent stake at Rs 210 each
- Modern Trading Business Pvt. Ltd. sells 4 lakh shares or 1 percent stake at Rs 210 each
Time Technoplast: American Fund Insurance sells 19.9 lakh shares or 0.88 percent stake at Rs 122.92 each
#BQOpinion | NPA Ordinance: Extraordinary measures for extraordinary times, by @pravchak.https://t.co/jmQYgBI7jV pic.twitter.com/15Uqgbfswy
Brokerage Calls
- ACC: Raised to 'Outperform' At CLSA with a price target of Rs 1,925
- Ambuja Cements: Assumed 'Buy' at CLSA with a price target of Rs 310
- Apollo Tyres: Cut to 'Sell' at Equirus Securities with price target of Rs 193
- Eicher Motors: Raised to 'Add' at Equirus Securities
- Exide Industries: Raised to 'Accumulate' at IDBI Capital Markets
- Hindustan Construction Company: Cut to 'Accumulate' at Dolat Capital
- Marico: Cut to 'Sell' at Elara Securities India with a price target of Rs 280
- Merck India: Rated new 'Accumulate' at IDBI Capital Markets
- NIIT Technologies: Cut to 'Sell' at Dolat Captial
- Tata Communications: Cut to 'Hold' at ICICI Direct with a price target of Rs 650
Source: Bloomberg
With the France election out of the way, focus is back on domestic factors and local triggers, writes @_nirajshah.https://t.co/NK9YZZn4b9
Stocks In F&O Ban
- Adani Enterprises
- Bharat Financial Inclusion
- IRB Infrastructure
- JSW Energy
- Karnataka Bank
- Ujjivan Finance
Online grocers are not the only threat for India's supermarkets, reports @sharleendsouza.https://t.co/9TeSmoSzDx pic.twitter.com/1DBxNRWOC5
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