The Singapore traded SGX Nifty, an early indicator of Nifty's performance in India, gained 0.2 percent to 9,369.
Your Wednesday morning briefing.https://t.co/d9cg3wSmvt pic.twitter.com/ZmmcKfcMD1
Here are the stocks to watch out for in today's session:
- Kotak Mahindra Bank: Shareholders approve increasing ceiling limit of FII/FPI holding to 49 percent and to issue 6.2 crore shares via American Depository Receipt (ADR) or Global Depository Receipt (GDR)
- Dish TV India: Competition Commission of India approves merger plan with Videocon D2H
- Mahindra and Mahindra: To hold shareholder meeting on June 13, 2017 seeking to approve the Scheme of Arrangement between Mahindra Two Wheelers Ltd. and itself.
- IDBI Bank: RBI initiated prompt corrective action for the bank due to high net non-performing assets and negative returns on assets
- Alicon Castalloy: To issue 8.6 lakh equity shares to Enkei Corporation, Japan at Rs 478 per share. Shareholding of Enkei to increase to 14.94 percent from the current 8.98 percent post the issue
- ArcoTech: Announces stock split in the ratio of 5:1 subject to shareholder approval
- Sintex: Allotted 47.56 lakh equity shares to FCCB holders upon exercise of their conversion right
RBI initiates prompt corrective action on IDBI Bank.https://t.co/UHhoT4TvGy pic.twitter.com/MnJgx5gHeH
Stocks In F&O Ban
- Adani Enterprises
- Bharat Financial Inclusion
- HDIL
- IRB
- JSW Energy
- Karnataka Bank
- Syndicate Bank
- Ujjivan Finance
Only SpiceJet and Alliance Air had participated in round 1.https://t.co/aI6JJecrpY
Brokerage Calls
- ACC: Raised to 'Overweight' at JPMorgan with a price target of Rs 1,900
- Bharti Infratel: Cut to 'Hold' at Jefferies with a price target of Rs 365
- Cera Sanitaryware: Cut to 'Hold' at Antique Stock Broking
- Coal India: Way2Wealth Brokers initiate coverage with 'Accumulate' rating
- Emami: Raised to 'Outperform' at Cholamandalam Securities
- Godrej Consumer: Cut to 'Hold' at Sharekhan with price target of Rs 1,985
- Shoppers Stop: Cut to 'Hold' at ICICI Direct with price target of Rs 350
- Union Bank of India: Cut to 'Reduce' at Quant Broking
Indian stocks above historical valuations highest in 15 years.https://t.co/xO0Tft7NwX pic.twitter.com/P9qLUuINWN
IPO Corner
- HUDCO IPO oversubscribed 3x on Day 2
- India Grid Trust IPO to open on May 17 with an issue price of Rs 98-100
- PSP Projects IPO to open on May 17 with an issue price of Rs 205-210
- Sterlite Power lowers InvIT IPO size to Rs 2,250 crore
Sterlite Power lowers InvIT IPO size to Rs 2,250 crore.https://t.co/7cgQRiIw8J pic.twitter.com/4DDhzg7Rlc
Nifty Quote Of The Day
Dena Bank's slippages spiked in January-March quarter as large accounts turned NPA. @alexandermats reports.https://t.co/5aHOs3Dhtg pic.twitter.com/lXG20O7jKx
Reports From Bloomberg
- Lupin: U.S. FDA's inspection of Aurangabad plant gets eight Form 483 observations
- Interglobe Aviation: Signs deal to buy 50 ATR planes worth $1.3 billion
Godrej Consumer to choose volumes over price hike in the new financial year.https://t.co/aFC8cCZsnm pic.twitter.com/S8e95jdqdq
Earnings Reaction To Watch
Bharti Airtel (Q4, YoY)
- Net profit down 71.7 percent to Rs 373 crore from Rs 1,320 crore
- EBITDA down 13.5 percent to Rs 7,906 crore
- EBITDA Margins contract to 36 percent from 36.6 percent
Thyrocare Technologies (Q4, YoY)
- Net profit up 36 percent at Rs 19 crore from Rs 14 crore
- EBITDA up 35 percent to Rs 33.2 crore crom Rs 24.6 crore
- EBITDA Margin flat at 37.9 percent from 37.8 percent
Gujarat Mineral Development Corporation (Q4, YoY)
- Net profit up 128 percent to Rs 90 crore from Rs 39.5 crore
- EBITDA up 116 percent to Rs 148.6 crore from Rs 68.7 crore
- EBITDA Margins expand to 27 percent from 19 percent
Petronet LNG (Q4, QoQ)
- Net profit up 18.4 percent at Rs 470.8 crore from Rs 397.5 crore
- EBITDA up 1.5 percent to Rs 616 crore from Rs 607.1 crore
Interglobe Aviation (Q4, YoY)
- Net profit down 24.58 percent to Rs 440.31 crore from Rs 583.78 crore
- EBITDAR down 11.7 percent to Rs 1,332 crore from Rs 1,508.5 crore
- EBITDAR Margin contracts to 27.5 percent from 36.88 percent
- To pay final dividend of Rs 34 per share
Blue Star (Q4, YoY)
- Net profit up 148 percent to Rs 37.17 crore from Rs 15.01 crore
- EBITDA up 12 percent to Rs 79.31 crore from Rs 70.85 crore
- EBITDA Margin contracts to 5.73 percent from 6.06 percent
All you need to know about Bharti Airtel's Q4 earnings in less than a minute.https://t.co/1Kv5j0SXzK pic.twitter.com/ZittdxrLvd
Key Earnings To Watch Today
Hero MotoCorp (Q4FY17 Bloomberg Estimates)
- Revenues seen 6.7 percent lower to Rs 7,011 crore from Rs 7,512 crore
- EBITDA seen 10.3 percent lower to Rs 1,054 crore from Rs 1,175 crore
- EBITDA Margins likely to be flat at 15 percent from 15.6 percent
- Net Profit seen 8.8 percent lower to Rs 742 crore from Rs 814 crore
Factors To Watch
- Impact of pricing and volumes decline of 7 percent on revenues
- Write down on BS-III vehicles and cost per vehicle on conversion
- Impact of higher discounts and negative operating leverage on margins
Other Key Earnings
- Zee Entertainment Enterprises
- KEI Industries
- Capital First
- Phoenix Mills
- Dalmia Bharat
- SML Isuzu
- Siemens
IndiGo shuns Airbus-only model to tap into government's regional connectivity scheme.https://t.co/Z9hLMQuqxh
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
