- Government to sell 41.22 crore shares or 5 percent stake in NTPC
- Infosys promoters may participate in the proposed buyback
- Vijaya Bank QIP opened. Floor price of Rs 66.36 per share.
- HPCL, Bajaj Finance, UPL to be included in Nifty 50 Index: NSE
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The Singapore-traded SGX Nifty, an early indicator of Nifty 50 Index’s performance in India gained 0.35 percent to 9,910
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Here are the stocks to watch out for in today’s session:
- NTPC: Government to sell 41.22 crore shares or 5 percent stake in company via offer for sale. Floor price set at Rs 168 per share.
- Century Plyboards: Acquired additional 2 percent in Huesoulin wood processing factory increasing holding to 51 percent
- Magma Fincorp: Acquires 26 percent stake in Magma ITL Finance from International Tractors Ltd.
- Infosys: Company informed that some members of the promoter and promoter group may participate in the proposed buyback
- Vijaya Bank: Bank opened QIP. Floor price of Rs 66.36 per share
- Jaypee Power: Lenders of Jaypee Power seek bids for 30 percent stake dilution (PTI report)
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The Nifty Rejig
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Bulk Deals
Thyrocare Technologies:
- Reliance MF bought 11.30 lakh shares or 2.1 percent stake at Rs 670 each
- Birla Sun Life MF bought 10 lakh shares or 1.9 percent stake at Rs 670 each
- Norwest Venture Partners VII A. Mauritius sold 50 lakh shares or 9.3 percent stake at Rs 670.44 each
- Reliance MF Pharma Fund bought 5 lakh shares or 0.9 percent stake
- Reliance MF Tax saver ELSS Fund bought 6.30 lakh shares or 1.2 percent stake
Talwalkars Fitness:
- Promoter Talwalkar Girish Madhukar sold 8.20 lakh shares or 2.8 percent stake through multiple transactions
- Shivanand Shankar Mankekar (HUF) bought 3.80 lakh shares or 1.3 percent stake at Rs 282 each.
Sarla Performance Fibers:
- Promoters Satidham Industries ltd bought 10 lakh shares or 1.2 percent stake at Rs 46.96 each. It had bought 5 lakh shares on August 24
- Hindustan Cotton Company sold 10 lakh shares or 1.2 percent stake at Rs 46.94 each. It had sold 5 lakh shares on August 24
Dion Global Solutions:
- Cresta Fund Ltd sold 5.35 lakh shares or 1.7 percent stake at Rs 51.4 each
- Ralph James Horne bought 5.35 lakH shares or 1.7 percent stake at Rs 51.4 each
Onward Technologies: Kuber India Fund bought 1.1 lakh shares or 0.7 percent stake at Rs 105 each
F&O Setup
- Nifty August Futures premium moves to 4 points from 16 points
- Nifty rollover at 18 percent and Bank Nifty rollover at 27 percent
- Highest call base at 10,000 strike with 58 lakh shares
- Highest put base at 9800 strike with 65 lakh shares (open interest up 7 percent)
- Unwinding seen on call strikes 9800, 9850 strikes & open interest addition seen on 9900 & 9950 call strikes
- Open interest Addition seen put strikes 9800, 9850, 9900, 9950
- September series maximum open interest concentration at 10000 call & 9700 put
- All data points are of August series unless mentioned otherwise
Active Stock Futures
- Nestle sees open interest addition of 40 percent on long side
- L&TFH sees open interest addition of 17 percent on long side
- Ramco Cement sees open interest addition of 16 percent on long side
- Adani Ent sees open interest addition of 9 percent on long side
- Dr Reddy sees open interest addition of 5 percent on short side
- Infy sees open interest shedding of 10 percent, short covering seen
- DLF sees open interest shedding of 11 percent, long unwinding seen
F&O Ban
- BEML
- GMR Infra
- HDIL
- Indiabulls Real Estate
- India Cement
- JP Associates
- JSW Energy
- Justdial
- Reliance Capital New
Earnings To Watch
- Dharamsi Morarji Chemicals
- Dhunseri Tea
- JHS Svendgaard
- KEI Industries
- Minda Industries
Earnings Reaction To Watch
Camlin Fine (Q1, YoY)
- Revenue down 2.1 percent to Rs 140 crore
- EBITDA margin contracted to (8 percent) from 11.6 percent
- Net loss of Rs 11 crore from a profit of Rs 3 crore
Suryalakshmi Cotton Mills (Q1, YoY)
- Revenue down 9 percent to Rs 172 crore
- EBITDA halved to Rs 13.5 crore
- Margins narrowed to 7.8 percent from 14.3 percent
- Profit fell 93 percent to Rs 0.5 crore
Rajshree Sugars (Q1, YoY)
- Revenue up 47.6 percent to Rs 211 crore
- EBITDA fell 34.3 percent to Rs 22 crore
- Margins narrowed to 10.9 percent from 33.5 percent
- Profit up 140 percent to Rs 18 crore
8K Miles (Q1, QoQ)
- Revenue up 16.8 percent to Rs 195 crore
- EBITDA grew 7.6 percent to Rs 64 crore
- Margins narrowed to 32.8 percent from 35.6 percent
- Profit went up 11.8 percent to Rs 38 crore
Sayaji Hotels (Q1, YoY)
- Revenue up 26.6 percent to Rs 40.5 crore
- EBITDA up 37.5 percent to Rs 5.5 crore
- Margins expanded to 13.6 percent from 12.5 percent
- Net loss widened to Rs 5 crore from Rs 4 crore.
NGL Fine Chem (Q1, YoY)
- Revenue fell 8 percent to Rs 23 crore
- EBITDA fell 66.7 percent to Rs 2 crore
- Margins at 9.5 percent from 25 percent
- Profit fell 60 percent to Rs 1.6 crore
Virinchi (Q1, YoY)
- Revenue up 51 percent to Rs 84 crore
- EBITDA up 124.5 percent to Rs 22 crire
- Margins expanded to 26.2 percent from 17.7 percent
- Profit grew 75 percent to Rs 7 crore
Brokerage Radar
Glenmark Pharma
- Nomura maintained Buy, however, reducing target price to Rs 856 from Rs 966.
- Cut EPS estimates for FY18/19 by 22 percent/27 percent.
- The drugmaker has interesting product opportunities; timely approval and launch remains key.
- India business to sustain growth, U.S revenues to remain under pressure and R&D at elevated levels.
FMCG Sector
- Credit Suisse said that the stock performance over next 2-3 years depends on innovation success, distribution expansion and competitive intensity.
- Near term, the critical factor will be a strong volume recovery in H2FY18.
- Stock valuations are stretched, P/E expansion is largely due to the falling interest rate.
Consumer Durables
- Motilal Oswal maintained that restocking picked up in August post a weak July.
- No price hikes in AC; price hikes in the range of Rs 150-500 for washing machine/refrigerator.
- Voltas’ share in inverter ACs is still quite low.
- Symphony still highest selling brand in air coolers, followed by Bajaj and Orient.
- Sell rating on Voltas; Neutral rating on Blue Star.