Stocks To Watch: Cipla, Dr. Reddy’s Labs, Infosys, Titan

The Singapore traded SGX Nifty, an early indicator of Nifty's performance in India, was little changed at 9,280.

Your Wednesday morning briefing.https://t.co/cNTpkLAgoJ pic.twitter.com/jFSdIvLPmJ

Here are the stocks to watch out for in today's session

Mahindra and Mahindra

• Had an inventory of BS-III vehicles worth around Rs 2,000 crore of which it sold more than half of it at a discount of up to 15 percent
• Company still has an inventory of 18,000 BS-III vehicles
• Some of the vehicles can be exported while some can be converted to BS-IV at a cost of Rs 3,000-4,000 for Small Commercial Vehicles
• Conversion cost for Large Commercial Vehicles can go up to as much as Rs 2,00,000
• Some vehicles can neither be exported nor converted into BS-IV

Infosys

• Clarifies on hike in remuneration for UB Pravin Rao
• Cash component of his remuneration has been decreased from Rs 5.2 crore to Rs 4.6 crore, a decrease of 10.6 percent
• Performance based component of the compensation has been increased from 45 percent to 63 percent
• The four-year vesting period of the stock will result in a net increase of 1.4 percent for FY18

Infosys justifies Pravin Rao's compensation, says only 1.4% hike in FY18, reports @sajeetkm.https://t.co/arTuSURuUS pic.twitter.com/kQg9Qcxlq4

HDFC

• Gained Rs 49 crore from sale of investments and Rs 223 crore from dividend during the January-March quarter.
• Assigned loans worth Rs 4,555 crore to HDFC Bank with a buyback option embedded in the home loan agreement
• Sold loans worth Rs 1,070 crore to other banks from which it earned a residual income of 2.96 percent per annum
• Sold loans worth Rs 16,027 crore for the 12-months ended march of which Rs 13,146 crore worth of loans were assigned to HDFC bank while the remaining amount was allotted to other banks

Cipla

• Received final approval for its ANDA for Abacavir and Lamivudine tablets USP, 600mg/300 mg from the U.S. FDA
• Indicated in combination with other antiretroviral agents for treatment of HIV-1 infection.
• Epzicom tablets had U.S. sales of approximately $346.3 million for the 12 month period ending February 2017, according to IMS health

State Bank Of India

• Enters into an agreement with IL&FS Africa Infrastructure Development, African Development Bank and EXIM Bank of India
• Agreement to form a company named Kukuza Project Development Company
• Company to focus on development of infrastructure projects in the African continent
• Remitted $4,87,500 as the first tranch of equity infusion for a 19.5 percent stake
• Also concluded a tap issue of $100 million of floating rate senior unsecured notes

Titan Company

• Retail growth for Tanishq for the quarter was in excess of 40 percent expected at the beginning of the quarter
• Retail division added 16 new Tanishq stores, an increase of approximately 60,000 sq.ft. retail space in FY17
• Trade channel recovered from the after-effects of demonetisation and retail channels recorded high single digit growth
• Exports and OEM business of the division continues to face significant headwinds
• Eyewear division saw a turnaround in sales in the last quarter on account of revival in sales of the sunglasses business

Titan says consumer sentiment and demand recovered significantly post demonetisation, reports @soumeet_sarkar.https://t.co/4BX0lDRGyd pic.twitter.com/vdnh6JRIGS

Coal India

• Produced 66.07 million tonnes of coal in March 2017 against a target of 63.23 million tonnes
• Sold 52.3 million tonnes of coal in March 2017 against a target of 58.3 million tonnes
• Company missed its production target of 598.61 million tonnes as well as its revised production target of 578 million tonnes
• Company sold only 543.16 million tonnes of coal in FY17

Coal India record output, shipments lag target at least 5th yearhttps://t.co/iBLSwXrMtk pic.twitter.com/1WBmiT39GH

Sobha

• Sold 7,23,265 square feet of area worth Rs 557.2 crore of which the company's share is Rs 504.8 crore
• Sales volumes grew 18 percent and sales value was up 35 percent sequentially
• Sales volume is down 18 percent and sales value of down 6 percent year-on-year
• Average price realization per square feet was Rs 6,980 up 15 percent sequentially and 16 percent year-on-year
• Did not add any new launches and it witnessed revival in demand in Delhi-NCR market.

Ujaas Energy

• Central Electricity Regulatory Commission issued an order increasing the validity of all solar and non-solar renewable energy certificates till March 31, 2018
• Company has received work orders under capacity allocation from Rajasthan Renewable Energy Corporation Ltd.
• Orders to design, supply, install and commission 850 Kwp grid connected solar power plant in various schools and colleges in Rajasthan
• Also received a work order from Madhya Pradesh Urja Vikas Nigam Ltd. for erection, installation, completion and commissioning of grid connected rooftop SPV power plants of aggregating capacity of 425 Kwp

India's ONGC Videsh to spend over $3 billion on Iran gas block, reports @saketsundria.https://t.co/DXmUYozoVc pic.twitter.com/MFu6aNIdV1

India Power Corporation

• Promoter of the company Power Trust proposes to offer up to 326.32 million equity shares through an Offer for Sale on the BSE and NSE
• Promoter holding will fall to 35.7 percent from 68.3 percent
• Shares will be offered to retail investors on April 7, 2017 and non-retail investors on April 6, 2017 at a floor price of Rs 41 per share

Supreme Infrastructure

• Granted status quo position by the High Court of Bombay and an ad-interim stay on sale of equity shares held by ICICI Bank Ltd.
• ICICI Bank had earlier revoked the encumbered equity shares of the promoters which was challenged by the company
• Resolutions passed by shareholders in the extra-ordinary general meeting has also been kept on hold by the court

• Dr. Reddy's Laboratories: U.S. FDA completes audit of its Srikakulam facility. Company receives form 483 with 2 observations.
• Aditya Birla Nuvo: RBI Grants license to Aditya Birla Idea Payments Bank to carry out business of payments bank in India. AB Nuvo has 51 percent stake in ABIPBL
• Yes Bank: Bank's IFSC business unit at GIFT city achieves a balance sheet of $1 billion
• NDTV: Enforcement Directorate will hold adjudication proceedings against the company, Prannoy Roy, Radhika Roy, K.V.L. Narayan Rao and NDTV Studios Ltd. under the Foreign Exchange Management (Adjudication Proceedings and Appeal) Rules, 2000
• KEC International: Bags new orders worth Rs 1,781 crore of which orders worth Rs 1,270 crore are worth international orders while the rest are from domestic markets.
• Ratnamani Metals & Tubes: Bags new export order of approximately Rs 150 crore for supply of carbon steel welded pipes coating to be completed in the next 12 months
• Container Corporation of India: Loaded approximately 36 million tons of traffic in FY17, a growth of 7.8 percent over 33.39 million tonnes in FY16.
• IDBI Bank: Employees to meet Deputy Chief Labour Commissioner, Mumbai Central regarding the pending wage revision of employees on April 11, 2017
• Wanderla Holidays: Announces a repositioning strategy with a new brand identity which will include a new logo, new sonic identity and a new mass media campaign
• Hathway Cable & Datacom: Completes transfer of cable television business via Slump Sale to Highway Digital Pvt. Ltd., a wholly-owned subsidiary of the company
• Bank of India: Board of Directors approve issue of equity shares worth Rs 1,500 crore to the Government of India and further capital raising plan for issue of equity shares
• Premier Explosives: Andhra Pradesh Industrial Infrastructure Corporation offers the company 202 acres of land at Chittoor district for establishing a unit to manufacture solid propellant.
• Seshasayee Paper and Boards: Sold the entire quantity of paper produced and achieved zero stock at both its units as on March 31, 2017
• Metalyst Forgings: Allotted 4 lakh equity shares and 24 lakh warrants to Amtek Auto Ltd. for Rs 100 each
• NMDC: Fixes lump ore prices at Rs 2,425 per wet metric tonne and prices for fines at Rs 2,185 per wet metric tonne.
• Advanced Enzymes Technologies: Seeks shareholder approval to split shares in the ratio of 1:5. One share of Rs 10 will become 5 shares of Rs 2 each
• Indiabulls Ventures: To hold board meeting on April 7, 2017 to consider and approve preferential issue of equity shares to certain foreign investors
• Dilip Buildcon: Received provisional completion certificates prior to scheduled completion date for two projects and is now entitled to a cumulative bonus of Rs 42.18 crore
• Gujarat Industries Power: ICICI Lombard General Insurance Company sold 3.5 million equity shares at Rs 108 per share to HDFC Mutual Fund
• Artson Engineering: Receives a contract of approximately Rs 12.5 crore from Tata Projects Ltd. the holding company for piping and mechanical works in Maharashtra
• VST Tillers Tractors: Sold 4,625 units of power tillers and 1,398 units of tractors in March 2017

Credit profile of cement makers intact despite falling volumes: @IndiaRatingshttps://t.co/Z2DNdv35Ny pic.twitter.com/qN1Y6GsvFJ

March Auto Sales

Hero MotoCorp

• Sales in March grew 0.6 percent to 6,09,551 units
• Sales for FY17 grew 0.5 percent to 66,63,903 million units
• Sales for FY17 were its highest ever in a fiscal year
• Commences production for BS-IV compliant vehicles

TVS Motor Company

• Sales in March grew 10 percent to 2,56,341 units
• Two-wheeler sales for March grew 10.7 percent to 2,50,979 units
• Three-Wheeler sales fell 8.7 percent in March to 5,362 units
• Exports in March grew 23.6 percent to 38,462 units

Demonetisation dampens best-ever yearly sales for Hero MotoCorp.https://t.co/ngpgOVVyuv pic.twitter.com/P2WxVZDVE0

Media Reports

• Gokaldas Exports: Blackstone exits the company. Mathew Cyriac, the former co-head of Blackstone's private equity business in India bought 39.96 percent stake for Rs 58.61 crore. (Business Standard)
• MEP Infrastructure: Targets highway projects worth Rs 10,000 crore this year. (Business Standard)
• Auto Companies: BS-III ban cost commercial vehicle makers Rs 2,500 crore and two-wheeler makers Rs 600 crore. (Business Standard)
• ICICI Bank: Sells Rs 1,800 crore loans of Ballarpur Industries along with Axis Bank to Edelweiss Asset Reconstruction Company. (Economic Times)
• Reliance Capital: In talks with Chinese firms to exit Prime Focus. (Economic Times)
• Bharat Forge: Plans to raise $500 million via offshore bonds. (Mint)
• Sugar Mills: Uttar Pradesh Government planning soft loans worth Rs 2,000 crore to clear dues. (Financial Express)
• Interglobe Aviation: Adds 35 new flights this summer. (Financial Express)
• Wonderla Holidays: Plans to raise Rs 150 crore via debt. (Financial Express)
• MTNL: Mulls selling surplus land, buildings to pare debt. (Financial Express)
• Arshiya Limited: Edelweiss recasts companies debt worth Rs 1,338 crore. (Financial Express)
• Reliance Industries: Gets green nod for expansion plan of its Dahej unit worth Rs 13, 250 crore. (Business Standard)
• Lupin: To pay $30 million in damages to Bayer for patent infringement. (Business Standard)
• Adani Ports: To study feasibility of setting up a port in Malaysia. (Bloomberg)
• ONGC: To start gas production from Daman fields by mid-May. (Bloomberg)

IT industry body NASSCOM plays down the impact of Trump administration's new H-1B visa guidelines. pic.twitter.com/QcyjgIVHx8

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