Stocks To Watch: IDBI Bank, Jindal Steel, Prestige Estates, Yes Bank

• Yes Bank acquires 5.62 percent in One Point One Solution under Anchor investor portion.
• NBCC to sell 25,16,013 shares via OFS to employees.
• Srikalahasthi Pipes' QIP closes; Issue price fixed at Rs 360.5 which is at discount of 5 percent to the floor price.
• IDBI Bank to terminate rating engagement with Moody's for MTN program.
• Punjab & Sindh Bank approves raising funds via share issue.
  

Indian equity benchmark topped 34,000 for the first time on Tuesday, marking the fifth such round-number milestone reached this year. The Sensex has climbed 28 percent so far this year, one of the best performers among Asia's major markets.

A global stock rally and a flood of local liquidity amid falling returns from property and gold have put the Indian guage on course for its best year since 2014.

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index's performance in India was a little changed at 10,531 as of 6:50 a.m.

Oil hits highest since mid-2015 on Libya blast, Saudi budget.https://t.co/OR5c4gZtVe pic.twitter.com/yZ3ufMNNit

Here Are The Stocks To Watch Out For In Wednesday's Trade

• Pidilite Industries' Board approves buy back of upto Rs 500 crores at Rs 1,000 per share vai tender route.
• Reliance Communications announces exit from SDR framework with zero write-offs to lenders; to reduce debt by Rs 25000 crore.
• ITC says certain individuals and NGOs have filed petition against HC ruling on cigarette warning.
• Yes Bank acquires 5.62 percent in One Point One Solution under Anchor investor portion.
• NBCC to sell 25,16,013 shares via OFS to employees.
• Srikalahasthi Pipes' QIP closes; Issue price fixed at Rs 360.5 which is at discount of 5 percent to the floor price.
• IDBI Bank to terminate rating engagement with Moody's for MTN program.
• Punjab & Sindh Bank approves raising funds via share issue.
• Prestige Estates to acquire 66.66 percent in group company, Prestige Projects for Rs 324 crore.

SEBI penalises 63 Moons Technologies as it failed to seek prior approval for the name change from stock exchanges.https://t.co/TbjZJuV3vp pic.twitter.com/Xlwb87cyns

Bulk Deals

• Lokesh Machines: Sushmita Kacholia sold 1.28 lakh shares or 0.8 percent equity at Rs 75.53 each.
• Tara Jewels: Promoter Rajeev Sheth sold 1.79 lakh shares or 0.7 percent equity at Rs 16.46 each.

Vishal Fabrics

• Asia Investment Corp Mauritius bought 3.74 lakh shares or 1.7 percent equity at Rs 300 each.
• Promoter Devkinandan Corporation sold 3.75 lakh shares or 1.7 percent equity at Rs 300 each.

Shanti Educational Initiatives

• LTS Investment Fund bought 80,800 shares or 0.5 percent equity at Rs 142 each.
• Promoter Tripoli Management Pvt Ltd sold 80,800 shares or 0.5 percent equity at Rs 142 each.

Dr. Reddy's launches generic cancer injection in U.S.https://t.co/mvlnZlMd6x pic.twitter.com/02XyMtmhew

F&O Setup

• Nifty December futures closed trade at 10526, a discount of 5 points from a premium of 12 points.
• Nifty January futures trading at 10,567.8, a premium of 37 points.
• All series: Nifty open interest up 8 percent; Bank Nifty open interest up 12 percent.
• Nifty Rollover at 35 percent, Bank Nifty Rollover at 30 percent.
• India VIX ended at 12, up 4 percent.
• Max open interest for Dec. series at 10,500 Call (open interest at 55.4 lakh, down 2 percent).
• Max open interest for Dec. series at 10,000 Put (open interest at 70 lakh, down 6 percent).

F&O Ban

• In ban: Balrampur Chini, DHFL, DLF, GMR Infrastructure, HDIL, IFCI, Jet Airways, Jain Irrigation, JP Associates, Reliance Capital, Wockhardt
• New in ban: HDIL, Jet Airways, Jain Irrigation, Reliance Capital
• Out of ban: Fortis Healthcare, Reliance Communications

Only intraday positions can be taken in stocks which are in F&O ban. In case of a rollover of these intraday positions, there is a penalty.

Active Stocks Futures

Brokerage Radar

Edelweiss Securities On Kotak Mahindra Bank

• Upgraded to ‘Buy' from ‘Hold' with revised target price of Rs 1205 per share.
• Upgrade follows recent interaction with management.
• Confidence stems from culmination of integration pangs (opex & cost).
• Merger of ING Vysya Bank lower than estimated on opex and asset quality fronts.
• Improved visibility on transitioning to steady‐state returns profile in the near term.
• Liability franchise continues to strengthen: Stupendous Saving Account accretion.
• Continued stress in economy and hence CV/CE portfolio to moderate bank growth prospects.

Barcalys On Concerns Of FY18 Slippages

• Achieving the fiscal deficit target goal will be a difficult balancing act, but possible.
• Government's tax and non-tax revenue collection to be Rs 800-1,200 billion lower than the budgeted sum.
• Disinvestment proceeds remain strong.
• Divestment could generate a surplus of Rs 300-400 billion over and above BE of Rs 725 billion.
• Government can avoid exceeding its gross market borrowing target for the current financial year.

Motilal Oswal on Sanghi Industries

• Initiated coverage with ‘Buy' rating and price target of Rs 157, a potential upside of 23 percent from yesterday's close.
• Sanghi Industries is one of the lowest cost cement producers due to its quality limestone, locational advantage and strong integration across the manufacturing value chain.
• Sanghi Industries' strength lies in its access to 1b tonne of quality marine limestone reserves.
• Expect SIL's margins to expand by 8.4pp over the financial years through March 2020.
• Diversification into new markets to bring in scale and margin expansion.
• Sanghi Industries is a strong re-rating candidate led by expected increase in capacity and anticipated scale benefits led by diversification into new higher-priced markets.
• Expect operating income and net profit to grow at a compounded rate of 33 percent and 61 percent respectively over the financial years through March 2020, with improved pricing and positive operating leverage.
• Expect return on equity to increase by 11pp to 16.8 percent in the financial year-ending March 2020, led by a sharp uptick in profitability.

Reliance Communications to exit the strategic debt restructuring plan with a zero write-off to lenders.https://t.co/6BeDKi1eTY pic.twitter.com/yTfXBnbgOy

Media Reports

• Biscuit maker Anmol Industries planning IPO in 2018 (Mint).
• Consumer Goods Makers Pins Hopes On 2018 To Erase Woes Of 2017 (Mint).
• DLF promoters conclude nearly Rs 9000-crore deal with DCCDL (Financial Express).
• TVS rejigs key roles to sharpen focus on premium bikes and global markets (Economic Times).
• Apollo Tyres plans to use Rs 1500 cr QIP proceeds to expand operations (Economic Times).
• Alok Industries' insolvency pro calls for fresh bid to attract more players (Economic Times).

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