The Singapore traded SGX Nifty, an early indicator of Nifty's performance in India, was little changed at 9,432
Your Friday morning briefing.https://t.co/UDAMyQPboh pic.twitter.com/oZ8ThIofpo
Here are the stocks to watch out for in today's session:
TVS Motor Company
- Strengthens its presence in Central America
- Announces an alliance with Mayor Servicios Socieda Anonima (MASESA), a company based in Guatemala
- The company is a leader in the commercialization of motorcycles and Tuk Tuks in the Central American Region
- MASESA will develop exclusive concessionaries for TVS in Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica
Vardhman Textiles
- Company's yarn sales grew 3 percent to 53,374 metric tons
- Grey fabric sasles slipped 2.6 percent to 453 lakh meters
- Processed fabric sales rose 12 percent to 328 lakh meters
- Kotak Mahindra Bank: QIP opened on May 11, 2017. Will consider issue price on May 16, 2017
- Delta Corp: Approves QIP at 5 percent discount to floor price of Rs 162.78 per share
- Vakrangee: Allied with Indian Railway Catering and Tourism Corporation Ltd. for offering railway e-tickets booking through Vakrangee Kendras
- Yes Bank: Seeks shareholder approval to allow Board of Directors to borrow as much as Rs 70,000 crore and raise funds up to Rs 20,000 crore
- Adlabs: Nylim Jacob Ballas India buys 4.6 lakh shares at Rs 87.35 each
- RPP Infra Projects: New Leania Investments sells 1.5 lakh shares at Rs 280.17 each
- Reliance Infrastructure: Subsidiary Delhi Metro Express Pvt. Ltd. wins Rs 2,950 crore arbital award against the Delhi Metro Rail Corporation Ltd.
.@KotakBankLtd is offering as many as 62 million shares for 930 - 936 rupees apiece.https://t.co/KPTBs5l5ZD
Brokerage Calls
- Axis Bank: Cut to 'Hold' at Choice Equity with a price target of Rs 560
- Capital First: Raised to 'Buy' at Sharekhan with price target of Rs 880
- Dabur India: Raised to 'Buy' at Nomura with price target of Rs 320
- Godrej Consumer: Cut to 'Neutral' at Nomura with price target of Rs 1,870
- Hero MotoCorp: Raised to 'Outperform' at IDFC Securities
- Marico: Cut to 'Reduce' at Nomura with price target of Rs 275
Source: Bloomberg
Havells India
- Cut to 'Neutral' at Credit Suisse with price target of Rs 550
- Cut to 'Sell' at Batlivala and Karani with price target of Rs 421
Source: Bloomberg
NHAI's maiden masala bond issue sees strong response at the London Stock Exchange.@MORTHIndia @nitin_gadkari https://t.co/CiFfE3syde
Today's Nifty Quote
Glenmark Q4 falls short of estimates despite robust sales growth in U.S.https://t.co/ANkdDk5Y7i
Today's Rupee Call
Indian exports are defying a firm rupee, reports @anir_nag.https://t.co/gbc6nQ7bR7 pic.twitter.com/tT6K7LaStX
Media Reports
- Infosys: Defers pay hikes till July; Senior executives to wait longer. (Economic Times)
- CRISIL: To lay off 150 workers in the SME division. (Economic Times)
- HUL, Nestle: In talks to pick up a stake in Havmor Ice Cream. (Mint)
- Tata Group: Spent Rs 18,026 crore on innovations in 2015-16. (Mint)
- SBI: To allow ATM withdrawals via electronic wallet. (Business Standard)
- United Bank of India: Looks to raise up to Rs 1,000 crore. (Business Standard)
- Torrent Pharma: Gets form 483 after U.S. FDA inspects facility. (Bloomberg)
- Max India: To buy 3.75 percent stake in Max Healthcare for Rs 212 crore. (Bloomberg)
.@myogiadityanath's government cancels the bidding process for power purchase agreement, reports @sajeetkm.https://t.co/xp8U4LpEHz
Earnings Reaction To Watch
Asian Paints (Q4, YoY)
- Net profit up 10.1 percent to Rs 479.6 crore
- Revenue up 8.9 percent to Rs 4,416 crore
- EBITDA up 2.2 percent to Rs 712 crore
- Announces final dividend of Rs 10.3 for FY17
Nilkamal (Q4, YoY)
- Net profit down 1.5 percent to Rs 32.2 crore
- Revenue up 6.4 percent to Rs 568.7 crore
- EBITDA down 11.7 percent to Rs 58.5 crore
- EBITDA Margins at 10.3 percent from 12.4 percent
Igarashi Motors (Q4, YoY)
- Net profit down 3.8 percent to Rs 17.9 crore
- Revenue up 1.4 percent at Rs 128.4 crore
- EBITDA down 11 percent at Rs 28.4 crore
- EBITDA Margins contract to 22.1 percent from 25.2 percent
Glenmark Pharmaceuticals (Q4, YoY)
- Net profit up 23.5 percent to Rs 183.8 crore
- Revenue up 6.5 percent to Rs 2,457.2 crore
- EBITDA up 46 percent at Rs 443.9 crore
- EBITDA Margin expands to 18 percent from 13.2 percent
Asian Paints analysts' targets indicate surge may falter.https://t.co/7uJ4iTYUoc pic.twitter.com/HBWLmEk9tW
Earnings To Watch Today
Dr. Reddy's Laboratories Q4FY17 (Bloomberg Estimates, YoY)
- Revenue may decline 1.9 percent to Rs 3,683 crore
- Net profit seen higher by 462 percent at Rs 419 crore
Base quarter had a provision on an outstanding receivable from Venezuela
Titan Q4FY17 (Bloomberg Estimates, YoY)
- Revenue seen rising 32 percent to Rs 3,218 crore
- Net profit seen 19.4 percent higher to Rs 219.8 crore
- EBITDA seen at Rs 323.70 crore
Also Read: Earnings Today: Dr Reddy's May See Profit Surge In January-March Quarter
Other Key Earnings
- Aditya Birla Fashion and Retail
- Dr. Lal Pathlabs
- Inox Wind
- NDTV
- Oriental Bank of Commerce
- Piramal Enterprises
- PNB Housing Finance
- Quick Heal Technologies
- UCO Bank
- Varun Beverages
CEA @arvindsubraman has called for more neutral voices when it comes to monetary, fiscal policy. https://t.co/DZxRXhywGC
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