Stocks in Asia were mixed in early trading as investors digested the latest signals from the Federal Reserve on the monetary-policy outlook, escalating tensions in the Middle East and a fractious U.S. political landscape.
The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index's performance in India, rose 0.3 percent to 10,451 as of 6:55 a.m.
Here Are The Stocks To Watch Out For In Thursday's Trade
- Tata Motors group global wholesales up 18 percent (YoY) at 1.53 lakh units in March.
- Biocon says Mylan partnered with Fujifilm Kyowa to commercialise Adalimumab biosimilar in Europe.
- IEX signed pact with JEPX to jointly explore opportunities in electricity market.
- GMR to set up defence manufacturing hub at Krishnagiri, Tamil Nadu.
- RBI slaps penalty of Rs 3 crore on IDBI Bank for non-compliance of NPA norms.
- Indian consortium of BPCL, IOC and HPCL signed MOU with Saudi Aramco to jointly develop and build refinery complex at Ratnagiri, Maharashtra.
- Sanwaria Agro: Q4 profit Rs 35.7 crore versus Rs 15.3 crore year ago.
- Bids For Jaypee Infra resolution likely to be finalized by April End (Financial Express).
- Tata group not to bid for Air India with current conditions (Financial Express).
Aramco wants more India deals in plan to double refining output.https://t.co/Fj0aDb0YLv pic.twitter.com/BRNQSMBqJ8
F&O Setup
- Nifty April futures closed trading at 10,425 with a premium of 8 points from 19.3 points
- April series: Nifty open interest up 5 percent, Bank Nifty open interest down 3 percent
- India VIX ended at 14.7, up 1.5 percent
- Max open interest for April series at 10,500 call strike (open interest at 43.8 lakh, up 5 percent)
- Max open interest for April series at 10,000 put (open interest at 45.7 lakh)
Indian government toys with the idea of a sovereign dollar bond. @dugalira reports.https://t.co/7EkfJMiTsY pic.twitter.com/fQnOCTT0bQ
F&O Ban
- In ban: Jet Airways, Balrampur Chini, JP Associates
- New in ban: JP Associates
Only intraday positions can be taken in stocks which are in F&O ban. There is a penalty in case of a rollover of these intraday positions.
Why India's bond traders are worried.https://t.co/0TAvzKtSJK
Active Stock Futures
Jack Ma's Ant is worth 50% more than Goldman at $150 billion.https://t.co/eT8ej10cJA pic.twitter.com/o62T8T7ywl
Trading Tweaks
- Talwalkars Better Value Fitness Ltd circuit filter revised to 10 percent and shifted to B group.
- Amrutanjan Health Care Limited last trading day before stock split.
Bulk Deals
Kwality
- Letko Brosseau Emerging Markets Equity Fund bought 39.90 lakh shares (1.7 percent) at Rs 57.26 each
- Sidhant Gupta sold 40 lakh shares (1.7 percent) at Rs 57.11 each (average)
Mahanagar Gas
- Societe Generale bought 12.92 lakh shares (1.3 percent) at Rs 905 each
- Promoter BG Asia Pacific Holdings Pte Ltd sold 83.96 lakh shares (8.5 percent) at Rs 906.9 each (average)
Praxis Home Retail: Cedar Support Services sold 10.91 lakh shares (4.4 percent) at Rs 200 each
Shalimar Paints: Promoter Nalwa Investments sold 9.23 lakh shares (4.9 percent) at Rs 150 each
As India sets aside $620 billion to modernise its military, global players like Saab, Airbus and Lockheed look to cash in. #DefExpo2018 https://t.co/zMLaFgams1 pic.twitter.com/yDt1vBrwdJ
Brokerage Radar
Goldman Sachs on OMCs
- OMC share prices are close to pricing in zero marketing margins.
- Market worries over subsidy sharing overdone.
- Maintain positive view on OMCs.
- Use the recent weakness to add to positions.
JPMorgan on Cement
- Lack of pricing discipline will continue to weigh on profitability.
- Supply-side risks evolving; To constrain pickup in utilisation levels in near term.
- Competitive intensity to remain elevated.
- Remain constructive on the sector; The current financial and calender year will be challenging.
- Ultratech: Downgraded to ‘Neutral' from ‘Overweight'; cut price target to Rs 4,000 from Rs 4,750.
- ACC: Downgraded to ‘Neutral' from ‘Overweight'; cut price target to Rs 1,680 from Rs 2,020.
- Shree Cement: Maintained ‘Overweight'; cut price target to Rs 19,600 from Rs 21,500.
- Ambuja: Maintained ‘Overweight'; cut price target to Rs 270 from Rs 320.
- Grasim: Maintained ‘Overweight'; cut price target to Rs 1,350 from Rs 1,450.
Morgan Stanley on Cadila
- Maintained ‘Overweight' with a price target of Rs 560.
- Mylan's court case win to facilitate its market entry in gLialda.
- Decision along expected lines, given the earlier Appeals Court ruling.
- Assuming 4-5 player market Cadila could make annual sales of $100-130 million per year.
Nirmal Bang on Uflex
- Initiated ‘Buy' with a price target of Rs 504; implying a potential upside of 44 percent from the last regular trade.
- Aseptic liquid packaging to boost top-line and margins.
- Focus on packaging business will improve return ratios.
- Packaging business enjoys higher realisations and margins.
- Improving BOPET film industry scenario.
- Expect revenue, operating income and net profit to compound at 11 percent, 13 percent and 16 percent over the fiscal 2017-2020.
- Packaging business to get higher multiple than commoditised film business.
Credit Suisse on Alkem Labs
- Maintained ‘Outperform' with a price target of Rs 2,275.
- Daman facility Form 483 is concerning.
- High probability of escalation to Warning Letter or Import Alert.
- Form 483 implies understaffing at Daman plant.
- Expect earnings per share to take a hit at 5 percent and 15 percent in case of warning letter and import alert respectively.
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