Employees work inside the India International Exchange (INDIA INX) operated by India International Clearing Corp., a subsidiary of BSE Ltd., in Gujarat International Finance Tec-City (GIFT City), Gujarat, India. (Photographer: Dhiraj Singh/Bloomberg)
The Singapore traded SGX Nifty, an early indicator of Nifty's performance in India, was little changed at 9,358.
Your Friday morning briefing.https://t.co/5c6im6K8eX pic.twitter.com/gZ9rsDd6wl
Here are the stocks to watch out for in today's session:
Kotak Mahindra Bank
- To buy out entire 26 percent stake in joint venture Kotak Mahindra Old Mutual Life Insurance Ltd.
- Stake to be bought for Rs 1,292.7 crore from Old Mutual Plc.
- Kotak Mahindra Bank currently holds 74 percent stake in the company
- Net worth of Kotak Life stands at Rs 1,825 crore as of March 31, 2017
- Kotak Life is being valued at Rs 4,972 crore
- Deal is subject to regulatory approval
Indian Tourism Development Corporation
- To transfer stake in joint venture subsidiary companies
- To transfer 51 percent equity stake in MP Ashok Hotel Corporation Ltd. to the Madhya Pradesh State Tourism Development Corporation
- To transfer 51 percent equity stake in Assam Ashok Hotel Corporation Ltd. to the Government of Assam
- To transfer Hotel Bharatpur Ashok to Government of Rajasthan
Hatsun Agro Products
- Board of directors approve raising funds up to Rs 500 crore through QIP subject to shareholder approval
- Company would issue 80.83 lakh equity shares at current market price.
- Public shareholding to increase to 29.1 percent from 25.29 percent earlier.
DCB Bank
- Raised Rs 379 crore through QIP
- Issued 2.177 crore equity shares at Rs 174 each
- Public shareholding increased to 85 percent from 83.81 percent
- Indraprastha Gas: Proposes to increased FII limit to 30 percent subject to shareholder approval
- Jindal Steel and Power: To raise Rs 600 crore via private placement of debentures subject to shareholder approval
- Ashok Leyland: Receives approval from National Company Law Tribunal for amalgamation of Hinduja Foundries with itself
- India Glycols: Begins commercial operations of its freight terminal at Kashipur in Uttarakhand
- NRB Bearings: Gets shareholder nod to issue debentures worth Rs 100 crore
- Jubilant LifeSciences: Says no plans to list the company's pharma business on Singapore exchange
- Capital First: Acquired 8 percent equity share capital and 2 percent share warrants of Sienna for Rs 4.25 crore
- Prism Cement: Receives Letter of Intent from government of Madhya Pradesh for mining lease of 50 years in Satna district
- Vascon: Board approves issue of debentures worth Rs 110 crore
- Sun TV: Launches a 24 hour Malayalam comedy channel
Bulk Deals
Sasken Technologies
- Promoter Naman Mody buys 2.59 lakh shares at Rs 424.9 per share
- Promoter Sakhee R Mody buys 2.41 lakh shares at Rs 424.54 per share
- Promoter Ansuya Mody Enterprises LLP sells 1.34 lakh shares at Rs 425 per share
- JB Mody Enterprises Llp sells 1.1 lakh shares at Rs 426.9 per share
Indocount Industries
- Royal Bank of Scotland Plc as trustee of Jupiter India Fund buys 19.96 lakh shares at Rs 199.96 per share
- Lazard Emerging Markets Small Cap Equity Trust Sells 19.24 lakh shares at Rs 200 per share
- Adani Enterprises: Cresta Fund Ltd. sells 74.08 lakh shares at Rs 121.27 per share
- Delta Corp: Swiss Finance Corporation (Mauritius) Ltd. sells 12 lakh shares at Rs 167.86 per share
Earnings Reaction To Watch
Biocon
- Q4 net profit down 62 percent at Rs 127.5 crore compared to Rs 333 crore last year
- Revenues down 3 percent at Rs 931.1 crore against Rs 956.7 crore year-on-year
- Board recommends offering two free shares for every share held
- Recommendation of a final dividend of Rs 3 per share also made
Reliance Capital
- Q4 net profit down 23 percent at Rs 443 crore compared to Rs 578 crore
- Revenue up 79 percent at Rs 5,033 crore compared to Rs 2,807 crore
- Announces dividend of Rs 10.5 per share
Indiabulls Real Estate
- Q4 net profit down 4 percent at Rs 601.8 crore compared to Rs 625.1 crore
- Revenues down 38 percent at Rs 437 crore compared to Rs 709 crore
- Lower revenue and higher tax outgo impact profits
Kokuyo Camlin
- Q4 net profit up 21 percent at Rs 2.86 crore compared to Rs 2.36 crore
- Revenue up 9 percent to Rs 193.02 crore compared to Rs 177.14 crore
- EBITDA up 6 percent to Rs 9.1 crore compared to Rs 8.57 crore
- Receives building completion certificate for its Patalganga plant. Operations to commence from April 28
Earnings To Watch
Ceat Q4 Estimates (YoY)
- Revenues seen up 6.2 percent at Rs 1,540 crore vs Rs 1,391 crore
- EBITDA seen down 17.1 percent at Rs 154 crore vs Rs 185.8 crore
- EBITDA margins seen at 10 percent vs 12.8 percent
- Net Profit seen down 24% at Rs 79 crore vs Rs 103.9 crore
Factors To Watch For CEAT
- Realizations which are likely subdued owing to decline in supplies to trucks and buses
- Impact of volatility in commodity costs on raw materials, margins
- Expected pick up in supplies to the oil & gas segment
- Update on capital expenditure
Ambuja Cement Q1 Estimates (YoY)
- Net Sales seen up 4 percent at Rs 2,511.40 crore compared 2,418.30 crore
- Volume Growth seen flat at 5.9 Million Tonnes
- Realization seen up 3.84 percent at Rs 4256.6 per tonne compared to Rs 4098.8 per tonne
- EBITDA per Tonne seen down 9.49 percent at Rs 690 per Tonne against Rs 762.4 per Tonne
- Net Profit seen down by 16.35 percent at Rs 254.10 crore compared to Rs 303.76 crore
- Volume growth will be watched given that volume growth of ACC and Ultratech has surprised on the upside
UPL Q4 Estimates (YoY)
- Revenues seen up 12.8 percent at Rs 4,897 crore against Rs 4,340 crore
- EBITDA seen up 15.6 percent at Rs 1,135 crore against Rs 982 crore
- EBITDA margins seen at 23.2 precent against 22.6 percent
- Net Profit seen up 20.5 percent at Rs 665 crore against Rs 552 crore
Factors To Watch
- Updates on headway in Brazil after macro-economic induced weakness
- Feedback and commentary on farmer's capacity to by crop protection assuming normal monsoons
- Consolidating presence in India, increasing presence in rest of the world
- Product launches in the horizon
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