Stocks To Watch: ICICI Bank, JM Financial, Reliance Infrastructure

The Singapore traded SGX Nifty, an early indicator of Nifty's performance in India, gained 0.1 percent to 9,359.

Your Wednesday morning briefing.https://t.co/6IOqkr6b3g pic.twitter.com/skLuYtwYId

May 3, 2017

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

JM Financial

• Company to restructure its business
• To demerge institutional equities division into a new company
• New company to remain a wholly-owned subsidiary of JM Financial Services Ltd.
• To also merge JM Financial Institutional Securities Ltd. and JM Financial Investment Managers Ltd.

TCS

• Enters into a strategic alliance with Swedish state-owned company Vattenfall
• Alliance to provide I.T. services across multiple European operations
• Agreement is a multi-year partnership where TCS will be responsible for development and maintainence of large number of applications

Drawing on our deep level of expertise and experience from many different sectors, this partnership will see us support Vattenfall achieve some of its most important strategic business objectives as it continues to grow and innovate across the region. 

Amit Bajaj, Chief Executive Officer, TCS (Europe)

.@Apple sells fewer iPhones as consumers wait for big upgrade, reports @atbwebb.https://t.co/NHHNovYgyJ pic.twitter.com/TbNfzD8dYm

May 3, 2017

Other Key Announcements:

• Sun Pharma Advanced Research Company: To consider fund raising through issue of equity or convertible warrants to promoters on May 5, 2017
• Oil India: Made two hydrocarbon discoveries in the Moran Petroleum Mining Lease in the upper Assam basin
• Rushil Decor: Calls off plans to conduct wood business in Laos as there are no new regulations allowing the conduct of the same
• Omkar Speciality Chemicals: To make an investment of Rs 2.2 crore in Lasa Supergenics Ltd.
• IDFC: First State Investments sells 1.22 crore shares or 0.76 percent stake at Rs 60.83 per share
• Ujjivan: Kemnay Investment Fund Ltd. sells 10.11 lakh shares at Rs 361.68 per share
• Reliance Infra: Files DRHP for Rs 2,500 crore IPO of its Investment Trust Fund
• Speciality Restaurants: Temporarily shuts down operations of Cafe Mezzuna in Bengaluru
• Kitex Garments: Board approves investment of $1.5 million in Kitex U.S.A.
• Vascon: Receives shareholder approval to raise Rs 110 crore via issue of CCDs on private placement basis.
• Punjab & Sind Bank: Raises Rs 1,000 crore via issue of bonds

Bharti group hires former Reliance captain chief to lead financial services arm, reports @azmanusmani.https://t.co/rSD67u7Ot8

May 3, 2017

Media Reports

• BPCL, HPCL, IOC: Rise in exports of Chinese petroleum products likely to impact refiners. (Financial Express)
• SAIL: Plans to double steel exports to 1.6 million tonnes in FY18. (Financial Express)
• Sugar Stocks: Cabinet nod to sugar subsidy plan likely today. (Financial Express)
• Indian Bank: To raise Rs 5,000 crore to fund infra, housing. (PTI)
• Maruti: Enters into top-10 auto companies worldwide by market capitalization. (Economic Times)
• L&T: Revives plan to sell its valves business for Rs 3,000-4,000 crore. (Economic Times)
• MT Educare: Raises debt worth Rs 110 crore from Xander Finance. (Mint)

India's government about to embark on a spending spree, reports @iainmarlow.https://t.co/amURB4trhY pic.twitter.com/eZ78bZp3RI

May 3, 2017

Earnings Reaction To Watch

Marico (Q4, YoY)

• Net profit up 25.5 percent at Rs 171.3 crore compared to Rs 136.5 crore
• Revenue up 2.4 percent at Rs 1,322.15 crore compared to Rs 1,290.58 crore
• EBITDA up 21 percent at Rs 259.5 crore compared to Rs 214.5 crore
• EBITDA margins expand to 19.5 percent compared to 16.6 percent

Shriram City Union Finance (Q4, YoY)

• Net profit down 73 percent to Rs 16.3 crore compared to Rs 61.2 crore
• Revenue up 15 percent at Rs 1,178 crore compared to Rs 1,023 crore
• Provisions up to Rs 424 crore compared to Rs 258 crore

Inox Leisure (Q4, YoY)

• Net profit down 98 percent at Rs 34 lakh compared to Rs 17.47 crore
• Revenue up 14.3 percent at Rs 288.48 crore compared to Rs 252.40 crore
• EBITDA up 63 percent at Rs 23.81 crore compared to Rs 14.63 crore

Kansai Nerolac looks to maintain margins in decorative paints segment. @sharleendsouza reports. https://t.co/oLOHDv7WXq pic.twitter.com/j9MEXQECHm

May 2, 2017

Brokerage Calls

• Biocon: Cut to 'Hold' at ICICI Direct with a price target of Rs 1,020
• Cadila Healthcare: Anand Rathi initiates coverage with a 'Buy' call and a price target of Rs 531
• Cummins India: Raised to 'Overweight' at Morgan Stanley
• Dabur India: Cut to 'Hold' at ICICI Direct with a price target of Rs 305
• Federal Bank: IIFL initiates coverage with 'Buy' call and a price target of Rs 132
• Fortis Healthcare: Cut to 'Hold' at Anand Rathi securities
• Granules India: Cut to 'Hold' at Anand Rathi securities
• UPL: Raised to 'Buy' at IndiaNivesh securities and a price target of Rs 914

Source: Bloomberg

.@snapdeal-@Flipkart deal at an impasse?https://t.co/4VIwinnzDJ

May 3, 2017

Earnings To Watch

ICICI Bank Q4FY17 Estimates

• Net Interest income seen up 0.4% to Rs 5,424 crore
• Net profit seen three-fold higher to Rs 2,142 crore
• Asset quality likely to remain weak

Factors To Watch

• Guidance around margins and growth
• Movement of watch list accounts
• More definite guidance on slippages and credit costs for FY18
• Plans on monetization of stakes in various ventures.

IPO Corner

• IRB InvIT Fund IPO opens today
• Raised Rs 2,094 crore from anchor investors
• Allocated Rs 20.5 crore shares at Rs 102 per unit
• Plans to raise up to Rs 5,000 crore by listing its InvIT
• Price band for the offer is Rs 100-102 per unit

IRB InvIT fund raises Rs 2,094 crore from anchor investors ahead of IPO, reports @azmanusmani.https://t.co/cmdbVDsx5w pic.twitter.com/XuB3Ake9Cl

May 2, 2017

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