Stocks To Watch: Biocon, GVK Power, Infosys, Pricol, TCS

• U.S. FDA advisory committee favours nod for Biocon's proposed biosimilar
  
• TCS reports biggest quarterly profit decline in two years
  
• GVK Power sells residual 10 percent stake in Bengaluru Airport
  
• Pricol to acquire 100 percent stake in PMP Auto Components
  
• Shareholders approve stock split for Infibeam Incorporation
  

The Singapore traded SGX Nifty, an early indicator of Nifty's performance in India gained 0.21 percent to 9,915.

All you need to know going into trade today, reports @darshanvmehta1.https://t.co/5dgB57bn18 pic.twitter.com/cTsKH7Kb8O

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

Biocon

• U.S. FDA Oncologic Drugs Advisory Committee recommends approval of company's proposed biosimilar Trastuzumab
• Committee voted 16-0 in support eligible indications of the reference product

We now look forward to engaging with the FDA to seek final approval in order to expand access to a high-quality, affordable option for treating HER2-positive breast cancers.

Arun Chandavarkar, CEO & Joint Managing Director, Biocon

• Blue Star: Partners with Comfort Solution for distribution of its products in Sri Lanka
• GVK Power & Infra: Sold its residual 10 percent stake in Bengaluru airport to Fairfax India for a consideration of Rs 1,290 crore
• Religare Enterprises: Dismissed reports suggesting closure of its institutional equity operations.

Hatsun Agro

• Milk: To increase capacity to 25 lakh litres per day from 20 lakh litres per day by December 2017
• Yoghurt: To introduce new varieties in this segment by December 2017
• Curd: To increase capacity to 6.5 LLPD from 5 LLPD by December 2017
• Cattle Feed: To increase capacity to 900 MT per day from 500 MT by August 2017
• Packaging Unit: Commercial production to manufacture packaging film to start by end of August 2017

Infibeam Incorporation

• Board approves 10:1 stock split.
• Post-split no of equity shares to increase to 54.2 crore from 5.42 crore shares.
• Approved scheme of amalgamation of Avenues (India) Pvt. Ltd. (CC Avenue) with company subject to necessary approvals

Pricol

• To acquire 100 percent stake in wiping systems business of Ashok Piramal Group's PMP Auto Components.
• The business has a turnover of around Rs 250 crore with a confirmed order book of more than Rs 450 crore in FY2020

Digitising to reduce operating costs, says Anil Radhakrishnan, CEO, Adani Logistics to @bhanvi_1.https://t.co/mp2nXPdOfo pic.twitter.com/MzLIUR24SW

Other Corporate Announcements

• NMDC: Iron ore production at 8.52 million tonne during April-June period.
• Suntek Realty: Shareholders approve stock split
• Sadbhav Infra: Toll revenue increased 15.6 percent year-on-year to Rs 243 Cr in Q1FY18
• GTPL Hathway: Board approves to buy remaining 49 percent stake in GTPL TV Tiger Pvt. Ltd.
• Aksh Optifibre: Shareholders approve scheme of amalgamation with Apaksh Broadband
• Gallant Ispat: Shareholders approve proposal to merge operations of eight of its subsidiaries with self

De-stocking in transition to #GST will impact consumer firms' earnings in Q1FY18, says @Citi's Aditya Mathur.https://t.co/27oEv7WQ0Z pic.twitter.com/P0OvjXaY9x

Telecom Subscription Data (May 31)

• Bharti Airtel adds 21 lakh subscribers
• Idea Cellular adds 2 lakh subscribers
• Vodafone India adds 11.3 lakh subscribers

Reliance Jio

• Adds 47.8 lakh subscribers
• 10 percent subscriber market share
• Active subscriber trend reverses after continuously declining since launch.
• 75.73 percent subscribers active on Jio network. Still below industry average of 86.34 percent.

F&O Setup

• Nifty futures add 12.3 lakh shares in open interest
• Nifty Bank adds 5,640 shares in open interest
• Resistance seen at 10,000 levels with open interest concentration of 44.5 lakh shares
• Heavy put writing seen at levels between 9,800-9,900

Active Stock Futures

• Kotak Mahindra Bank: Sees open interest addition of 10 percent on the long side
• HDFC Bank: Sees open interest addition of 6 percent on the long side
• ONGC: Sees open interest addition of 6 percent on short side
• Hindalco: Sees open interest addition of 6 percent on long side

Stocks In F&O Ban

• Ujjivan and Kaveri Seed
• HDIL
• IndiaBulls Real Estate
• JP Associates
• JSW Energy

GVK exits Bengaluru airport, sells residual 10% stake to Fairfax.https://t.co/eY6rn2ni5B pic.twitter.com/AtjiySAiEN

Today's Nifty Call

Inventory swings a risk to OMC earnings in Q1FY18, but @Citi India's Saurabh Handa remains positive on sector.https://t.co/27oEv7WQ0Z pic.twitter.com/ElieC3UYLl

Bulk Deals

• Redington India: Morgan Stanley bought 75.34 lakh shares or 1.9 percent stake at Rs 141.4 each which were sold by Local Government Superannuation Scheme
• Veto Switchgear: Reliance Wealth Management bought 2.60 lakh share (1.4 percent) at Rs 215.21 each

Ramkrishna Forgings launches Rs 200 crore QIP. @darshanvmehta1 & @azmanusmani report.https://t.co/aPdcp30xWv pic.twitter.com/Un43mHNBqB

Brokerage Calls

TCS

• CLSA maintains ‘Buy' with price target of Rs 2,850
• Morgan Stanley remains ‘Underweight' with price target of Rs 2,100
• Credit Suisse maintains ‘Neutral' with price target of Rs 2,250

Cyient

• Credit Suisse maintains 'outperform' with price target cut to Rs 600 from Rs 625
• Morgan Stanley maintained 'Overweight' with price target of Rs 655

• ONGC: Credit Suisse maintains 'outperform' with price target cut to Rs 195 from Rs 220
• Aurobindo Pharma: Goldman Sachs maintained 'Buy' with price target raised to Rs 850 from Rs 792
• Tata Steel: Credit Suisse maintained 'Outperform' with price target raised to Rs 650 from Rs 600

As focus shifts to operational efficiency, @Citi India pricing in a temporary dip in IT margins.https://t.co/27oEv7WQ0Z pic.twitter.com/TS26NTJrT1

Earnings Post Market Hours

TCS (Q1FY18, QoQ)

• Revenue down 0.2 percent to Rs 29,584 crore
• EBIT down 9.3 percent to Rs 6,914 crore
• EBIT Margin down to 23.4 percent from 25.7 percent
• Net profit down 10 percent to Rs 5,945 crore

It's been a mixed first reaction of brokerages to the underwhelming earnings announced by TCS.https://t.co/dMwktjHYup pic.twitter.com/jFI5fXcbUY

RIIL (Q1FY18, YoY)

• Revenue up 4.8 percent to Rs 24.24 crore
• EBITDA up 22 percent to Rs 562 crore
• EBITDA margin expands to 23.2 percent from 19.9 percent
• Net profit down 39 percent to Rs 1.84 crore

Hatsun Agro Products (Q1FY18, YoY)

• Revenue up 12.8 percent to Rs 1168.7 crore
• EBITDA up 23.9 percent to Rs 103.3 crore
• EBITDA margin up to 8.8 percent from 8 percent
• Net Profit up 18.9 percent to Rs 35.2 crore

Media Reports

• Adani Ports: In the fray for buying stake in Dredging Corporation. (Financial Express)
• TTK Prestige: Begins Rs 70 crore buyback. (Financial Express)
• JSW Energy: Shareholders clear plan to raise Rs 21,000 crore for acquisitions. (Mint)
• Kwality: SEBI fines company founders for alleged trading irregularities. (Bloomberg)
• Punj Lloyd: Lenders conduct viability study for debt recast. (Economic Times)
• SBI: Against JSW Steel's plan to buy controlling stake in Monnet Ispat. (Economic Times)
• JSW Energy: Will continue consolidation in the domestic power sector, says Sajjan Jindal. (Economic Times)
• Cipla: In joint talks with Novartis to jointly market asthma drug Xolair. (Economic Times)
• Bhushan Steel: SBI and PNB initiate proceedings against the company, Bhushan Power. (Business Standard)
• Supreme Infra: Gets S4A lifeline for Rs 2,400 crore debt. (DNA)

#BQOpinion | Banks are flush with liquidity. Why not use it to address the bad loan problem? @dugalira writes.https://t.co/KaXu4PrvhV pic.twitter.com/yiXU3hwAGV

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