Stocks To Watch: Bata, Bajaj Finance, ENIL, Reliance Infra
- Sical Logistics to provide corporate guarantee of Rs 40 crore to Kamarajar Port
- NCLT approves scheme of amalgamation between Raymond's subsidiaries
- Karnataka Bank introduces four different savings rates
- Bajaj Finance to pick up 11 percent stake in Mobikwik for Rs 225 crore
The Singapore-traded SGX Nifty, an early indicator of Nifty 50's performance in India, was down 0.2 percent to 10,065.
All you need to know going into trade today.https://t.co/9gUeczPPZJ pic.twitter.com/bwnRqH6vfG
August 3, 2017Here are the stocks to watch out for in today's session:
VST Tillers
- July Sales down 21 percent at 2,405 units versus 3,045 units for its power tillers (YoY)
- Tractor sales up 11.1 percent at 760 units versus 684 units (YoY)
- GAIL India: Starts construction on the Kerala stretch of the Kochi – Koottanad – Mangaluru-Bengaluru Pipeline Project. The total project cost is estimated at Rs 3,263 crore.
- Majesco: Transfers its Pune property to AP Estates LLP for Rs 15.55 crore
- Sical Logistics: To provide corporate guarantee of Rs 40 crore to Kamarajar Port Ltd.
- Bajaj Finance: To pick up 11 percent stake in Mobikwik for Rs 225 crore
Sustained growth consistently over 24 quarters, says @EdelweissFin CEO @rasheshshah to @dhanuka_saloni.https://t.co/J7ZNF9mb4V pic.twitter.com/ayDSAPK3Tv
August 3, 2017Other Corporate Announcements
Karnataka Bank
Introduced 4 different savings accounts interest rates:
- 5 percent interest rate on savings accounts above Rs 1 crore
- 4 percent interest rate on savings accounts of Rs 50 lakh to Rs 1 crore
- 3.5 percent interest rate on savings account of Rs 1 lakh to Rs 50 lakh
- 3 percent interest rate on sub-Rs 1 lakh savings accounts
- Hindustan Organic Chemicals: Shares of company to be de-listed from August 17
- TBZ: Board approves winding up of Konfiaance Jewellery
- Raymond: NCLT approves scheme of amalgamation between subsidiaries
No scope for Essar Steel to repay its debts for 25 years” says NCLT.https://t.co/lSjlPRJSA3 pic.twitter.com/H6wBWInqIb
August 2, 2017Today's Nifty Call
F&O Setup
- Nifty futures premium shrinks to 19 points from 24 points
- Minor open interest addition seen on both Nifty and Bank Nifty
- Nifty range for August series in terms of open interest concentration between 10,000 to 10,500
- Max open interest on put side at 10,000 strike, with 48.3 lakh shares
- Max open interest on call side at 10,500 strike, with 36.4 lakh shares
- Put strikes 9,900 and 10,000 see unwinding and 9,800 sees open interest addition
- Active call strikes of 10,100, 10,200 and 10,300 see open interest addition
Active Stock Futures
- Cummins sees open interest addition of 47 percent on long side
- Infibeam sees open interest addition of 41 percent on short side
- Ceat sees open interest addition of 39 percent on long side
- Godrej Consumer sees open interest addition of 36 percent on short side
- Titan sees open interest addition of 17 percent on long side
- Balrampur Chini sees open interest addition of 16 percent on the long side
Stocks In F&O Ban
- IndiaBulls Real Estate
- Jaiprakash Associates
- JSW Energy
- Wockhardt
SEBI forms fintech panel under @TVMohandasPai to modernise securities market, reports @azmanusmani.https://t.co/itfaKgDszE pic.twitter.com/XP3TrfQR3j
August 2, 2017Bulk Deals
Shilpi Cables
- Global Focus Fund sold 7.72 lakh shares or 0.7 percent stake at Rs 33.04 each
- As per June filing, its holding stood at 1 crore shares or 9.11 percent
Big Pharma wants to cash in on an upsurge in cases of diabetes and heart disease in India's most distant corners.https://t.co/2fxaqE7BTZ pic.twitter.com/NpMrZPODQX
August 2, 2017Earnings Reactions To Watch
Bata (Q1, YoY)
- Net profit up 19 percent to Rs 60 crore
- Revenue up 10 percent to Rs 743 crore
- EBITDA up 12 percent to Rs 96 crore
- EBITDA margin flat to 13 percent from 12.9 percent
Reliance Infrastructure (Q1, YoY)
- Net profit down 24 percent to Rs 334 crore
- Revenue up 8 percent to Rs 7,559 crore
- EBITDA up 35.5 percent to Rs 2,014 crore
- EBITDA margin expanded to 26.6 percent from 21.2 percent
Sical Logistics (Q1, YoY)
- Profit up 69 percent to Rs 11 crore
- Revenue up 14.5 percent to Rs 245 crore
- EBITDA up 43 percent to Rs 45 crore
- EBITDA margin expanded to 18.4 percent from 14.7 percent
Transport Corporation of India (Q1, YoY)
- Revenue up 16 percent to Rs 497 crore
- EBITDA up 23 percent to Rs 46 crore
- EBITDA margin expanded to 9.3 percent from 8.8 percent
- Net profit up 20 percent at Rs 18 crore
TBZ (Q1, YoY)
- Net profit up 164 percent to Rs 5.8 crore
- Revenue up 38 percent to Rs 448 crore
- EBITDA up 8.6 percent to Rs 19 crore
- EBITDA margin narrowed to 4.3 percent from 5.4 percent
VST Industries (Q1, YoY)
- Net profit down 9 percent to Rs 39.8 crore
- Revenue down 4 percent to Rs 562 crore
- EBITDA down 2 percent to Rs 65 crore
- EBITDA margin expanded to 31.3 percent from 26.8 percent
Narayana Hrudayalaya (Q1, YoY)
- Net profit down 36.6 percent to Rs 10.9 crore
- Revenue up 15.3 percent to Rs 521 crore
- EBITDA down 5.7 percent to Rs 50 crore
- EBITDA margin narrowed to 9.6 percent from 11.7 percent
Ingersoll Rand (Q1, YoY)
- Net profit down 36.6 percent to Rs 10.9 crore
- Revenue down 1.2 percent to Rs 160 crore
- EBITDA down 6.1 percent to Rs 10.8 crore
- EBITDA margin narrowed to 7.2 percent from 7.6 percent
HEG (Q1, YoY)
- Net loss of Rs 8 crore
- Revenue up 23 percent to Rs 214 crore
- EBITDA up 700 percent to Rs 24 crore
- EBITDA margin expanded to 11.7 percent from 1.8 percent
Entertainment Network (Q1, YoY)
- Net profit down 72.4 percent to Rs 4.6 crore
- Revenue down 6 percent to Rs 104.35 crore
- EBITDA up 43.6 percent to Rs 16.6 crore
- EBITDA margin narrowed to 15.9 percent from 26.6 percent
Institutional buyers bid for Rs 327 crore shares in Hindustan Copper's offer for sale on day 1.https://t.co/nlMTCDNvVa pic.twitter.com/LH0uftTlhC
August 2, 2017Brokerage Radar
Voltas
- Jefferies maintained its 'Buy' rating with price target Rs 600
- Goldman Sachs retained its 'Neutral' rating, but hiked price target to Rs 520 from Rs 480
- Citi mained a 'Buy' on the stock with price target raised to Rs 614 from Rs 552
Punjab National Bank
- JP Morgan maintained an 'Underweight' rating on the stock with Rs 130 as price target
- IDFC Securities retained its 'Underperform' rating with price target Rs 135
- Deutsche Bank maintained 'Hold' on the stock with Rs 160 as the price target
- Credit Suisse retained its 'Underperform' rating on the stock with price target Rs 118
- Godrej Properties: JP Morgan retained its 'Neutral' rating on the stock with Rs 520 as the price target
- Bata: Nomura maintained a 'Reduce' rating and kept price target at Rs 458
- ICICI Bank: CLSA maintained a 'Buy' rating with price target Rs 380
- Apollo Tyres: Deutsche Bank reatined its 'Buy' rating with price target at Rs 275
Lupin
- JP Morgan retained its 'Neutral' stance on the stock with price target Rs 1,275
- Citi maintained a 'Buy' rating with price target Rs 1,350
Media Reports
- Emami: Eyes more buys in the healthcare segment. (Business Standard)
- Bajaj Finance: To pick up 11 percent stake in MobiKwik for Rs 225 crore. (Business Standard)
- Hindustan Copper OFS: Institutional buyers bid for Rs 327 crore shares. (PTI)
- Tata Steel: To focus on India going forward said Chandrasekaran. (PTI)
- Essar Steel: Tribunal approved bankruptcy process against the company. (Economic Times)
- Reliance Communications: NCLT may take a call on RCom-Aircel merger plan on Thursday. (Economic Times)
SEBI forms fintech panel under Mohandas Pai to modernise securities market, reports @azmanusmani.https://t.co/itfaKgDszE pic.twitter.com/PVStY4No7y
August 3, 2017Disclaimer: Stock recommendations and comments presented on BloombergQuint.com are solely those of the analysts and experts quoted. They do not represent the opinions of BloombergQuint.com on whether to buy, sell or hold shares of a particular stock.
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