Stocks To Watch: InterGlobe, Bharti Airtel, JSW Steel, Hero MotoCorp, Tech Mahindra

• Bharti Airtel: Says Approached By Global Investors For Infratel Stake
  
• VRL Logistics: To Consider Buy-Back Of Its Shares On November 3
  
• InterGlobe Aviation: Q2 Net Profit Rs 552 Crore, Beats Estimate Of Rs 321 Crore
  
• State Bank Of India: Cuts MCLR By 5 Basis Points From November 1
  
• JSW Steel: Q2 Net Profit Rs 840 Crore, Misses Estimate Of Rs 1,030 Crore
  

Indian equity benchmarks edged lower, led by decline in heavyweights like Infosys, State Bank of India, L&T and Tata Motors. The S&P BSE Sensex Index declined 0.16 percent to 33,213 and the NSE Nifty 50 Index slipped 0.27 percent to 10,335.

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index's performance in India, rose 0.31 percent to 10,411 as of 7:00 a.m.

All You Need To Know

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Stocks To Watch

• Bharti Airtel to mull sale of controlling stake in Bharti Infratel.
• Reliance Communications completed merger with Sistema Shyam Tele.
• SBI cuts MCLR by 5 basis points.
• Karnataka Bank to cut MCLR by 10 points.

Early onset of festival season may hit automakers' October sales.@YatinMota reports.https://t.co/YpDJJRdwzl pic.twitter.com/0rdqfIlNJT

Other Corporate Announcements

• Poddar Housing: Launched new housing project "Poddar Spraha diamond" at Chembur.
• Tata Power: Commissioned 30 MW solar plant. Will produce 62 million KWH annually and is located in Stara District, Maharashtra.
• HPCL says no proposal considered on buying MRPL as of now.
• Orissa Mineral Development Co.: CEC imposes a penalty of Rs 83.06 crore on the company for production without forest clearance.
• TeamLease Services: Completed acquisition of Evolve Technologies & Services.

IPO Watch

• Mahindra Logistics Limited IPO continues on day 2. The issue was subscribed 0.48 times on day 1.
• New India Assurance Company IPO opens today at an issue price of Rs 770-800 per share.

New India Assurance IPO: Here's what you need to know@dhanuka_saloni reportshttps://t.co/BpKnlsGVh0 pic.twitter.com/USQjmeGWW7

Circuit Revisions

• Circuit filter revised to 10%: IIFL Holdings and Women's Next Loungeries
• Circuit filter revised to 5%: Pioneer Distilleries, HEG & Bhansali Engineering Polymers

Docomo has its payday as Tata transfers arbitration award.https://t.co/bFjEuIbcHP pic.twitter.com/IqUhlvDRTs

F&O Setup

• Nifty November futures closed at 10,388.4, premium of 33.5 points from 24.8 points
• November contracts: Nifty open interest up 1 percent, Bank Nifty open interest down 2 percent
• India VIX closed 2.7 percent higher at 12.44
• Maximum open interest for November series shifts at 10,400 Call (open interest at 32.4 lakh)
• Maximum open interest for November series at 10,000 Put (open interest at 50.5 lakh, up 3 percent)

F&O Ban

• JSW Energy
• Wockhardt

Active Stock Futures

Bulk Deals

Cyient

• Birla Sun Life MF bought 15 lakh shares or 1.3 percent stkae at Rs 525 each
• Fidelity Series Emerging Markets Debt Fund bought 17.62 lakh shares or 1.6 percent stake at Rs 525 each
• Reliance Capital Growth Fund bought 11.60 lakh shares or 1 percent stake at Rs 525.39 each
• Reliance Capital Opportunities Fund bought 15.40 lakh or 1.4 percent stake at Rs 525.39 each
• UBS Principal Capital Asia bought 12.52 lakh shares or 1.1 percent stake at Rs 525 each
• First Carlyle Ventures Mauritius sold its entire stake of 1.1 crore shares or 9.9 percent stake at Rs 525.16 each

Skipper

• Ocean Dial Gateway to India Mauritius Ltd bought 22.90 lakh shares or 2.2 percent stake at Rs 229.99 each
• Purushottam Distributors sold its entire stake of 13.55 lakh shares or 1.3 percent stake at Rs 230 each

Mawana Sugars

• Mentor capital bought 2.5 lakh shares or 0.6 percent stake at Rs 122.31 each

Prakash Industries

• BNP Paribas Arbitrage sold 15.90 lakh shares or 1 percent stake at Rs 147.57 each

Bhushan Steel

• EARC Trust SC sold 37.83 lakh shares or 1.7 percent stake at Rs 67.4 each (average)

Network18

• Network Group Senior Professional Trust sold 1.1 crore shares or 1.1 percent stake at Rs 49.41 each

Earnings Reactions To Watch

Bharti Airtel (Q2, YoY)

• Revenue down 0.8 percent to Rs 21,777 crore
• Net profit down 6.6 percent to Rs 343 crore
• EBITDA up 2 percent to Rs 7,922 crore
• EBITDA Margin at 36.4 percent versus 35.3 percent
• ARPU down 5.8 percent to Rs 145 from Rs 154

#Q2WithBQ | Bharti Airtel's net profit declines for the sixth straight quarter.https://t.co/a1sYi5Nks9

InterGlobe Aviation (Q2, YoY)

• Revenue up 27 percent at Rs 5,291 crore
• Net profit up 294 percent at Rs 551.5 crore
• EBITDAR up 61 percent at Rs 1,557.5 crore
• Margins at 29.43 percent vs 23.23 percent

Syndicate Bank (Q2, YoY)

• Net interest income up 6.8 percent at Rs 1649.5 crore
• Net profit up 27.4 percent at Rs 105 crore
• Provisions down 33 percent at Rs 891 crore (QoQ)
• GNPA at 9.39 percent from 9.96 percent (QoQ)
• NNPA at 5.76 percent from 6.27 percent (QoQ)

Swaraj Engines (Q2, YoY)

• Revenues up 16.75 percent at Rs 209 crore
• Net profit up 23.68 percent at Rs 23.5 crore
• EBITDA up 20.68 percent at Rs 35 crore
• Margins at 16.74 percent from 16.2 percent

Cholamandalam (Q2, YoY)

• Revenue from operations up 12 percent at Rs 1,313 crore
• Net profit up 36 percent at Rs 228 crore
• Net interest margin at 9.6 percent from 9.5 percent (QoQ)

IIFL Holdings (Q2, YoY)

• Revenue up 31 percent at Rs 1585.5 crore
• Net Interest Income up 40 percent at Rs 933.5 crore
• Net profit up 25.1 percent at Rs 229 crore

VST Industries (Q2, YoY)

• Revenues down 2 percent at Rs 219.5 crore
• Net profit up 41.9 percent at Rs 44 crore
• EBITDA up 39 percent at Rs 69.5 crore
• Margins at 31.6 percent from 22.3 percent

Sanofi India (Q2, YoY)

• Revenues up 4.6 percent at Rs 667.5 crore
• Net profit up 50 percent at Rs 12 crore
• EBITDA up 32 percent at Rs 161 crore
• Margins at 24.11 percent from 19.12 percent

KPIT Technologies (Q2, YoY)

• Revenues up 5.5 percent at Rs 916 crore
• Net profit up 8.2 percent at Rs 60 crore
• EBITDA up 13.2 percent at Rs 90 crore
• Margins at 9.8 percent from 9.15 percent

Blue Star (Q2, YoY)

• Revenues down 6 percent at Rs 836 crore
• Net profit up 5 percent at Rs 21 crore
• EBITDA up 14.6 percent at Rs 47 crore
• Margins at 5.6 percent versus 4.6 percent

Zee Media Corporation (Q2, YoY)

• Revenues up 23.8 percent at Rs 125 crore
• Net profit of Rs 1.8 crore from net loss of Rs 18 crore
• EBITDA down 4 percent at Rs 22 crore
• Margins at 17.6 percent from 22.77 percent

JSW Steel (Q2, YoY)

• Net sales up 27.14 percent at Rs 16,818 crore
• Net profit up 29 percent at Rs 836 crore
• EBITDA up 3.51 percent at Rs 3,036 crore
• Margin at 18 percent from 22.2 percent

Divi's Laboratories (Q2, YoY)

• Revenues down 11 percent at Rs 890 crore
• Net profit down 7 percent at Rs 207 crore
• EBITDA down 5 percent at Rs 276 crore
• Margins at 31.0 percent from 28.9 percent

Sintex Plastics Technology (Q2, QoQ)

• Revenues down 7.4 percent at Rs 1,433 crore
• Net profit down 62.3 percent at Rs 26 crore
• EBITDA down 17.4 percent at Rs 192 crore
• Margins at 13.39 percent from 15 percent

EIH Associated Hotels (Q2, YoY)

• Revenues down 6 percent at Rs 46.55 crore
• Net loss of Rs 1.4 crore from a net profit of Rs 1.6 crore
• EBITDA down 76 percent at Rs 1.55 crore
• Margins at 3.3 percent from 13.1 percent

Nifty Results Today

• Hero Motocorp
• Tech Mahindra

Other Results Today

• Apollo Tyres
• Eclerx Services
• ENIL
• Godrej Consumer Products
• Greaves Cotton
• Hexaware Technologies
• JSW Energy
• ‘Max India
• Shriram Transport Finance
• Tourism Finance Corporation Of India
• TVS Motor Company

India's rank jumps to 100 from 130 last year in World Bank's Doing Business report. https://t.co/CQ7ZeXsRkP

Brokerage Radar

• InterGlobe Aviation: UBS maintained ‘Sell'; hiked price target to Rs 930 from Rs 850.
• Info Edge (India): Credit Suisse maintained ‘Outperform'; hiked price target to Rs 1,300 from Rs 1,120.
• Shankara Building: IDFC Securities initiated ‘Outperform' rating with a price target of Rs 1,786.
• Sintex Plastics Technology: IDFC Securities maintained ‘Outperform'; cut price target to Rs 113 from Rs 146.

JSW Steel

• Credit Suisse: Maintained ‘Outperform'; hiked price target to Rs 300 from Rs 265.
• Macquarie: Maintained ‘Neutral'; hiked price target to Rs 262 from Rs 222.
• IDFC Securities: Downgraded to ‘Underperform' from Neutral; maintained target price at Rs 192.

Dabur India

• UBS: Maintained ‘Buy'; hiked price target to Rs 400 from Rs 365.
• Credit Suisse: Maintained ‘Neutral'; hiked price target to Rs 350 from Rs 310.

Dr. Reddy's Lab

• Credit Suisse: Maintained ‘Underperform' with a price target of Rs 1,950.
• Macquarie: Maintained ‘Neutral' with a price target of Rs 2,500.

Bharti Airtel to evaluate selling majority stake in tower arm, reports @sajeetkm.https://t.co/sPK8kB9j92 pic.twitter.com/0hrwLFovpU

Media Reports

• GST network glitches courtesy Infosys, say government officials (Economic Times)
• Tatas and Docomo end their troubled partnership, finally (Economic Times)
• Cement prices may go up by Rs 8-10/ Bag in North India (Financial Express)
• Tata Global Beverages Launches tea Café (Business Line)
• Schneider top bidder for L&T's electrical unit (Mint)
• GIC, CPPIB may join hands with Bain to buy 10 percent In Axis Bank (Mint)

Sistema Shyam telecom business merges with Reliance Communications.https://t.co/USm892RksK pic.twitter.com/zfwij0KORp

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