Employees work inside the India International Exchange (INDIA INX) operated by India International Clearing Corp., a subsidiary of BSE Ltd., in Gujarat International Finance Tec-City (GIFT City), Gujarat, India. (Photographer: Dhiraj Singh/Bloomberg)
The Singapore traded SGX Nifty, an early indicator of Nifty's performance in India, gained 0.1 percent to 9,630.
Your Wednesday morning briefing.https://t.co/snLTceJuML pic.twitter.com/mp3ty46N4S
Here are the stocks to watch out for in today's session:
Reliance Communications
- CARE downgrades company's rating to CARE D from CARE BB
- ICRA downgrades company's rating to ICRA D from ICRA BB
- Moody's downgrades rating to Caa1 from B2
Also Read: Anil Ambani's Reliance Communications On The Verge Of Default?
Cox & Kings
- Board approves scheme of arrangement for demerger of its travel and financial service business
- Post demerger, Cox and Kings Financial Services Ltd. will be a wholly-owned subsidiary of the company
- Promoter holding in the resulting company to be 60.63 percent
Berger Paints
- Board approves acquisition of 100 percent stake in Chandigarh-based, niche paint maker Saboo Coatings for a total consideration of Rs 81.77 crore
- Board also approves acquisition of 51 percent stake in Saboo Hesse Wood Coatings Pvt. Ltd. for a sum of Rs 1.5 crore
HDIL
- To issue securities up to $150 million subject to shareholder approval
- To also issue equity worth Rs 200 crore to promoter Sarang Wadhawan subject to shareholder approval
SEBI's new draft rules may make P-notes unviable for foreign investors, reports @sajeetkm.https://t.co/ElzlHghujl pic.twitter.com/V26JQlnS5m
- Educomp Solutions: National Company Law Tribunal (NCLT) approves company's application under the insolvency and bankruptcy code. The company has also submitted a restructuring proposal to the consortium of bankers
- Gujarat Gas: Enters into a non-binding MoU with Petronet LNG for exploring, dispensing and marketing of LNG
- Rolta India: Board approves de-listing of GDRs from London Stock Exchange
- Mcleod Russel: Board considering a joint venture with Eveready Industries for development of packet tea business
- Talwalkars: Issues NCDs worth Rs 500 crore on a private placement basis. Also increases the borrowing limit of the company to Rs 750 crore
- Arrow Greentech: Incorporates wholly-owned subsidiary Avery Pharmaceuticals for a sum of Rs 25 lakh
- Lloyd Electric & Engineering: Announces special dividend of Rs 20 per share out of the proceeds from the sale of its consumer durables business
- Reliance Communication: To be in the F&O ban list on May 31
Punjab National Bank
- Overnight MCLR revised to 8 percent from 8.05 percent
- 1-month MCLR revised to 8.1 percent from 8.15 percent
- 3-month MCLR revised to 8.2 percent from 8.25 percent
- MCLR for 6-months, 1-year, 3-year and 5-year period unchanged between 8.3-8.5 percent respectively
PVR expects strong revenue growth in April-September on big bang movie releases, reports @sharleendsouza.https://t.co/xSZQAjjrea pic.twitter.com/PK83nlHCai
Today's Nifty Call
#GST may prompt more companies to sell shares to the public. @SantanuChakra & @tomredmondjapan reporthttps://t.co/uTAyAsqDCY
Brokerage Calls
- AIA Engineering: Cut to ‘Hold' at Anand Rathi Securities
- IPCA Labs: Cut to ‘Neutral' at IDFC Securities with price target of Rs 522
- KNR Constructions: Raised to ‘Buy' at HDFC Securities
- M&M Financial Services: Raised to ‘Overweight' at Morgan Stanley
- NTPC: Raised to ‘Outperform' at IDFC Securities with price target of Rs 186
- Oil India: Raised to ‘Buy' at Batlivala & Karani with price target of Rs 390
- PVR: Cut to ‘Reduce' at Dolat Capital Market
- Ramco Cements: Raised to ‘Hold' at Emkay with price target of Rs 670
- Shriram Transport Finance: Raised to ‘Overweight' at Morgan Stanley
- Tech Mahindra: Raised to ‘Buy' at KR Choksey with price target of Rs 473
Source: Bloomberg
#GST Impact: Jaguar Land Rover cuts select model prices by up to Rs 10.9 lakh.https://t.co/ZDOe221481 pic.twitter.com/4HzMCAZGP1
Media Reports
- Cadila Healthcare: Plans to raise Rs 1,000 crore via QIP. (Mint)
- Piramal Enterprises: Structure finance arm invests Rs 565 crore in two auto part firms. (Mint)
- Hindalco: Expects domestic aluminium demand to rise 7 percent. (Mint)
- Reliance Communication: Says will clear debt worth Rs 25,000 crore by September 30. (Business Standard)
- Tata Motors: Aims to provide skill training to 40,000 individuals in three years. (Business Standard)
- Tata Motors: JLR cuts select model prices by up to Rs 10.9 lakh. (PTI)
- Hindustan Zinc: To spend Rs 30 crore in the next five years to train youth. (PTI)
- Power Grid: Plans capex of Rs 25,000 crore in FY18. (PTI)
- Aurobindo, Glenmark Pharma: U.S. FDA approves first generic copies of Lilly's Strattera to treat Attention-Deficit/Hyperactivity Disorder (ADHD) in pediatric and adult patients. (Bloomberg)
Power Grid (@pgcilindia) plans capital expenditure of Rs 25,000 crore for FY18. @ChitnisPurva reports.https://t.co/pTObNYvPxM pic.twitter.com/FUbzj1lH9R
Earnings Reaction To Watch
BEML (Q4, YoY)
- Net profit up 27 percent to Rs 186.4 crore
- Revenue up 17 percent to Rs 1,315.9 crore
- EBITDA up 14 percent to Rs 199.5 crore
- EBITDA Margin down to 15.2 percent from 15.6 percent
Bhushan Steel (Q4, YoY)
- Net loss widens to Rs 756.8 crore from Rs 657.6 crore
- Revenue up 32 percent to Rs 4,558.9 crore
- EBITDA up 40.2 percent to Rs 862 crore
- EBITDA Margin up to 20.4 percent from 19.8 percent
Delta Corp (Q4, YoY)
- Net profit down 59 percent to Rs 11.4 crore
- Revenue up 6 percent to Rs 108.13 crore
- EBITDA flat at Rs 34.41 crore
- EBITDA Margin down to 31.8 percent from 34 percent
Jet Airways (Q4, YoY)
- Net profit down 90.7 percent to Rs 36.8 crore
- Revenue up 3 percent to Rs 5,449.1 crore
Fortis Healthcare (Q4, YoY)
- Net loss narrows to Rs 37.5 crore from Rs 87.6 crore
- Revenue up 5 percent to Rs 1,123.4 crore
- EBITDA up 69 percent to Rs 79 crore
- EBITDA Margin up to 7percent from 4.35 percent
Finolex Cables (Q4, YoY)
- Net Profit down 12.8 percent to Rs 75.5 crore
- Revenue up 10.2 percent to Rs 784.6 crore
- EBITDA down 12.3 percent to Rs 101.1 crore
- EBITDA Margin down to 13 percent from 16.2 percent
Infibeam Incorporation (Q4, YoY)
- Net Profit up 467 percent to Rs 13.6 crore
- Revenue up 60 percent to Rs 120.85 crore
- EBITDA up 190 percent to Rs 20.09 crore
- EBITDA Margin expands to 16.6 percent from 9.2 percent
IRB Infra (Q4, YoY)
- Net Profit up 32.15 percent to Rs 207.2 crore
- Revenue up 6 percent to Rs 1,627.12 crore
- EBITDA up 11.25 percent to Rs 821.8 crore
- EBITDA Margin expands to 50.5 percent from 48 percent
MOIL (Q4, YoY)
- Net Profit up 442 percent to Rs 115.8 crore
- Revenue up 19.75 percent to Rs 252.7 crore
MTNL (Q4, YoY)
- Net loss of Rs 634.8 crore from Net Profit of Rs 188.6 crore
- Revenue down 13.3 pecrent to Rs 705.2 crore
Pricol (Q4, QoQ)
- Net profit down 36.5 percent to Rs 5.4 crore
- Revenue down 10.4 percent at Rs 287.7 crore
- EBITDA down 12.45 percent at Rs 40.1 crore
- EBITDA Margin down to 15.5 percent from 15.7 percent
Talwalkars (Q4, YoY)
- Net profit up 22 percent to Rs 24.6 crore
- Revenue up 12.9 percent to Rs 103.3 crore
- EBITDA up 15 percent to Rs 76.5 crore
- EBITDA Margin expands to 85 percent from 83 percent
Tata Global Beverages (Q4, YoY)
- Net profit of Rs 51.12 crore from Net loss of Rs 268.9 crore
- Revenue up 4.75 percent at Rs 1,674.3 crore
- EBITDA up 12 percent to Rs 179 crore
- EBITDA Margin up at 10.7 percent from 10 percent
Thermax (Q4, YoY)
- Net profit down 69 percent to Rs 35.31 crore
- Revenue flat at Rs 1,519.06 crore
- EBITDA up 31 percent to Rs 173.21 crore
- EBITDA Margin up 11.6 percent from 8.85 percent
United Spirits (Q4, YoY)
- Net loss of Rs 104.2 crore from Net profit of Rs 1.4 crore
- Revenue up 9 percent to Rs 6,485.2 crore
- EBITDA up 129 percent to Rs 265.1 crore
- EBITDA Margin up at 13 percent from 5.7 percent
Welspun Enterprises (Q4, YoY)
- Net profit up 276 percent to Rs 17.75 crore
- Revenue up 149 percent to Rs 181.5 crore
‘#GST will curtail tax evasion', says RC Bhargava, Chairman, @Maruti_Corp to @PayaswiniLLB.https://t.co/L1I9mgde94 pic.twitter.com/l6pYpjUqpn
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