- Binani Industries says it will apply to NCLT for termination of Binani Cement's insolvency proceedings.
- GAIL plans pipeline to link Northeast India to National Gas Grid: Bloomberg.
- RBI allows raising FPI limit in Future Retail to 49 percent from 24 percent.
Stocks in Asia and U.S. equity futures fell, building on losses on Wall Street after a sell-off in technology shares bruised trader sentiment before a key Federal Reserve policy meeting.
The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index's performance in India, fell 0.3 percent to 10,084 as of 6:55 a.m.
Here Are The Stocks To Watch Out For In Tuesday's Trade
- Binani Industries says Binani Cement will apply to NCLT for insolvency exit and sell assets to UltraTech.
- BGR Energy Systems wins order worth Rs 87.68 crore from Tamil Nadu Transmission Corporation.
- Granules gets ANDA approval for Metformin tablets.
- Inox Wind offer for sale to non-retail gets 122 percent demand for shares offered.
- Sona Koyo offer for sale to non-retail gets 28 percent demand for shares offered.
Biocon expects its biosimilar business will generate $1 billion in revenue by 2025. https://t.co/BAbpcQL7D7 pic.twitter.com/aHoOvusb8T
- IndiGo market share at 39.9 percent versus 39.7 percent (MoM).
- Jet Airways at 16.8 percent versus 16.6 percent (MoM).
- SpiceJet at 12.4 percent versus 12.6 percent (MoM).
- GAIL plans pipeline to link Northeast India to National Gas Grid (Bloomberg).
- Nitesh Estates says discussions with investors for Pune Mall in advanced stage and is expected to conclude by April 30.
- IFCI says Supreme Court has upheld the sale of the assets of Blue Coast Hotels for recovery of dues.
- RBI allows raising FPI limit in Future Retail to 49 percent from 24 percent.
- Religare Enterprises says India Horizon Fund has withdrawn its petition against the company.
- Prism Cement's JV completes expansion of tiles capacity at Matel plant, Morbi.
Binani Cement eyes insolvency exit as UltraTech takeover looms.https://t.co/4kjGzy4JFn pic.twitter.com/ysLvGY4yt0
IPO Watch
- Bandhan Bank IPO subscribed 14.6 times on final day.
- Hindustan Aeronautics IPO continues on day 3. The issue is subscribed 0.45 times so far.
- Karda Construction IPO continues on day 3. The issue is subscribed 1.24 times so far.
- Sandhar Technologies IPO continues on day 2. The issue is subscribed 0.02 times so far.
Air passenger traffic grows the fastest in 13 months.https://t.co/KMcoARGQqP pic.twitter.com/NHGA2JAPz1
F&O Cues
- Nifty March Futures closed trading at 10,122.8, premium of 28.8 points from 37 points.
- March series: Nifty open interest down 3 percent, Bank Nifty open interest up 5 percent.
- India VIX ended at 15.8, up 4 percent.
- Max open interest for March series at 10,500 call strike (open interest at 66 lakh, up 13 percent).
- Max open interest for March series at 10,000 Put (open interest at 62.9 lakh, up 36 percent).
SEBI exempts Centre from open offers for 6 state-owned lenders post capital infusion.https://t.co/MHHQqHu9Yq pic.twitter.com/ggnlb781Wv
F&O Ban
- In ban: BEML, Dewan Housing, HDIL, IDBI Bank, JP Associates, Reliance Communications, SAIL
- New in ban: Reliance Communications
- Out of ban: Bank of India, TV18 Broadcast
Only intraday positions can be taken in stocks which are in F&O ban. There is a penalty in case of a rollover of these intraday positions.
Active Stocks To Watch
Bulk Deals
- TD Power Systems: India Value Fund IV sold 6 lakh shares or 1.8 percent equity at Rs 201 each.
- GSS Infotech: Elara India Opportunities Fund bought 1 lakh shares or 0.6 percent equity at Rs 67.5 each
- Samtel Color: ICICI Bank Ltd A/c ICICI Treasury sold 4.29 lakh shares or 0.5 percent equity at Rs 0.45 each.
- Punjab Alkalies & Chemicals: IDBI Bank sold 5.25 lakh shares or 1.9 percent equity at Rs 36.4 each.
Sintercom India:
- India Max Investment Fund sold 8 lakh shares at Rs 73.97 each.
- Jagdish Master bought 7 lakh shares at Rs 74 each.
Essar Steel re-bidding issue may be taken up on Wednesday.https://t.co/wP33ch4ZsT pic.twitter.com/obecXfnLzA
Uttam Galva offers 51% of outstanding loan to avoid asset auction.https://t.co/II9Hn4LMf3 pic.twitter.com/nxzXqp886L
Brokerage Radar
Morgan Stanley on Metals
- Hindalco: Downgraded to ‘Equalweight' from ‘Overweight'; cut price target to Rs 256 from Rs 292.
- Vedanta: Maintained ‘Overweight'; cut price target to Rs 386 from Rs 395.
- Coal India: Maintained ‘Underweight'; raised price target to Rs 245 from Rs 221.
- Vedanta benefits from strong volume growth in aluminium and zinc.
- Hindalco's earnings are geared to aluminium prices; Volumes have peaked.
- Upside risk to Coal India's earnings is less likely.
Motilal Oswal on Shilpa Medicare
- Maintained ‘Buy' with a price target of Rs 749; implying a potential upside of 53 percent from the last regular trade.
- Issuance of EIR by U.S. FDA comforting.
- EIR lowers regulatory risk over medium term.
- Strong oncology ANDA pipeline pending for approval.
- Oncology API and CRAMS on steady track.
- Expect revenue and net profit to compound at a rate of 16 percent and 35 percent respectively over the fiscal 2017-2020.
Credit Suisse on Zee Entertainment
- Maintained ‘Outperform' with a price target of Rs 650.
- Digital platform Zee5 launched with differentiated content.
- Await response to Zee5.
- Advertising growth remains strong.
- Subscription income should grow mid-teens.
- Regional remains a key focus area.
- Operating margins to remain strong.
CLSA on SBI Subsidiaries Meet
- Subsidiaries scaling up well.
- Potential listing can unlock value.
- Subsidiaries are seeing healthy growth – better than parent.
- Listing of AMC/others can unlock value.
- Insurance – Large in life, but smaller in general.
- SBI Card – among the fastest-growing companies.
- SBI Funds – Growing, but lags on profitability.
CLSA on HCL Tech
- Maintained ‘Buy' with a price target of Rs 1,170.
- Building HCL into a next gen IT services business.
- Revenue trajectory to remain robust.
- Organisational structure aids agility.
- Strategic bet on IP licensing in the creation of its own IP.
- Valuations attractive; Top pick in sector.
How long will Mumbai's real estate sector take to revive?https://t.co/rtX6vkkQ49 pic.twitter.com/Gn7fRzHQxT
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
