- Century Textiles may explore merger with Grasim after sale of paper division
- Religare to divest its stake in Cerestar Advisors for Rs 5.73 crore
- IL&FS Engineering gets contract termination letter from Paschimanchal Vidyut Vitran Nigam Ltd.
- Andhra Bank revises marginal cost of lending rate
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The Singapore-traded SGX Nifty, an early indicator of Nifty 50 Index’s performance in India, gained 0.32 percent to 9,978
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Here are the stocks to watch in today’s session:
- Idea Cellular: To seek shareholders’ nod on October 12 for merger with Vodafone
- Mahindra & Mahindra: Launches 3-wheeler e-Alfa mini electric rickshaw at Rs 1.12 lakh (ex-showroom Delhi)
- IL&FS Engineering: Gets contract termination letter from PVVNL, IL&FS initiates legal action against termination
- Religare Enterprises: To divest its stake in Cerestar Advisors for Rs 5.73 crore
- Onward Technologies: Enters into a partnership with Dassault Systemes to expand its offerings from engineering services to industry solutions.
- Shreyas Shipping & Logistics: Takes delivery of multipurpose vessel, fleet size rises to 11
- RBL Bank: Partners with LIC MF for the launch of its new digital product – Insta Redemption Solution
- Monsanto: To sell its branded cotton seed business to Tierra Agrotech Pvt. Ltd.
- Sun Pharma: NCLT approves scheme of merger between the company and Sun Pharma Medisales, Ranbaxy Drugs, Gufic Pharma and Vidyut Investments
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Other Corporate Announcements
- Andhra Bank, Oriental Bank and Syndicate Bank revise marginal cost of lending rate
- Auto companies in focus on back of increase in cess for big cars and SUVs
- Supreme Court refuses to grant interim bail to Unitech promoter Sanjay Chandra
- Jenburkt Pharmaceuticals: Board approved buyback of equity shares worth Rs 12 crore, at Rs 576 per share
- Optic fiber company stocks in focus as government to spend Rs 18,792 crore on Phase 2 of BharatNet
IPO
- Matrimony.com Limited IPO opened with issue price of Rs 983 - Rs 985
- Dixon Technologies IPO closed, the issue got subscribed 117.8 times
- Bharat Road Network IPO closed, with the issue subscribed 1.8 times
Brokerages on Matrimony.com
- Motilal Oswal: Subscribe for long-term due to leadership positioning, limited competition and expected pick up in earnings. On annualised EPS based on Q1FY18 earnings, issue is available at P/E of 38 times.
- KRChoksey: Subscribe rating given the nature of an internet company, leading position in the online match-making services industry, presence in a promising industry and higher profitability compared to peers.
- IIFL: Subscribe for listing gains. IPO proceeds to be utilised for higher revenues and lower operating costs. Focused expansion of marriage services could also help the company move up the chain.
- Angel Broking: Subscribe for mid-to-long-term period. Expect the company to perform better considering strong brand , leadership position, robust technology, strong user data base and expansion into marriage services.
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Today’s Nifty Call
F&O Setup
- Nifty September Futures closed with a premium of 15 points versus 24.7 points
- September Nifty Futures Open Interest up 1 percent
- India VIX closed marginally lower by 0.35 percent at 12.9
- September series highest call base at 10,000 (Open Interest at 47.3 lakh)
- September series highest put base at 9,700 (Open Interest at 52.9 lakh, Open Interest up 5 percent)
- Call strikes 9,900, 10,100 see Open Interest addition
- Put strikes 9,800, 9,900, 10,000 see Open Interest addition
Active Stock Futures
- Amara Raja sees Open Interest addition of 35 percent on long side
- Oil India sees Open Interest addition of 35 percent on long side
- Powergrid sees Open Interest addition of 15 percent on short side
- Kajaria Ceramics sees Open Interest addition of 14 percent on long side
- Repco Home sees Open Interest addition of 13 percent on short side
- M&M sees Open Interest addition of 12 percent on short side
- Dish TV sees Open Interest addition of 10 percent on short side
- PVR sees Open Interest addition of 9 percent on long side
- Ramco Cement sees Open Interest shedding of 11 percent, long unwinding seen
F&O Ban
- Dewan Housing Finance
- Indiabulls Real Estate
- JSW Energy
- Just Dial
Bulk Deals
- 63 Moons Tech: Blackstone GPV Capital Partners (Mauritius) VI FII sold 9.8 lakh shares or 2.1 percent stake at Rs 78.14 each
Gulf Oil Lubricants India:
- Promoters Gulf Oil International (Mauritius) Inc. bought 6.91 lakh shares or 1.4 percent stake at Rs 777 each.
- IAM Ltd. sold 6.91 lakh shares or 1.4 percent stake at Rs 777 each
Results Today
- Advanced Enzymes
- Andrew Yule
- Cochin Shipyard
- Dolphin Offshore
- Gloster
- Indian Toners
- Mawana Sugar
- Multibase
- Neuland Labs
- Schneider Electric
Earnings Reaction To Watch
Asian Oilfields (Q1,YoY)
- Revenue up more than 5 times to Rs 51 crore versus Rs 9 crore
- EBITDA at Rs 12 crore versus Rs 3 crore
- Margin at 23.5 percent versus -33.3 percent
- Net profit of Rs 11 crore versus net loss of Rs 6 crore
Everest Kanto (Q1, YoY)
- Revenue down 14 percent to Rs 125 crore
- EBITDA down 50 percent to Rs 5 crore
- Margin at 4.1 percent from 7.1 percent
- Net loss of Rs 15.3 crore
Kirloskar Electric (Q1, YoY)
- Revenue down 37 percent at Rs 103 crore
- EBITDA loss at Rs 18 crore versus EBITDA profit of Rs 3.52 crore
- Margin at -19.1 percent versus 2.7 percent
- Net loss of Rs 24 crore versus net profit of Rs 2 crore
- Other income of Rs 11 crore in base quarter
Linc Pens (Q1, YoY)
- Revenue down 20.6 percent to Rs 67.5 crore
- EBITDA down 66.7 percent to Rs 3 crore
- Margin narrowed to 4.4 percent from 10.6 percent
- Profit down 87.5 percent to Rs 0.5 crore
Omax Auto (Q1, YoY)
- Revenue down 9.8 percent at Rs 275 crore
- EBITDA loss at Rs 13.5 crore versus EBITDA profit Rs 10 crore
- Margin at -5.5 percent versus 3.7 percent
- Net loss of Rs 22 crore versus net profit of Rs 30 lakh
Poddar Housing (Q1, YoY)
- Revenue down 64 percent at Rs 4 crore
- EBITDA loss at Rs 3 crore versus -1 Crore
- Margins at -75 percent versus -9.1 percent
- Net loss of Rs 2.3 crore versus net profit of Rs 1.2 crore
Federal Mogul (Q1, YoY)
- Revenue up 0.5 percent to Rs 366 crore
- EBITDA up 18.4 percent to Rs 51.5 crore
- Margin expanded to 15.7 percent from 13.2 percent
- Profit up 29.4 percent to Rs 22 crore
Salzer India (Q1, YoY)
- Revenues up 16 percent to Rs 115 crore
- EBITDA down 7 percent to Rs 10.5 crore
- Profit down 6 percent to Rs 4.1 crore
- Margin 9.1 percent versus 11.4 percent
APL Apollo Tubes (Q1, YoY)
- Revenue up 19 percent to Rs 1,301 crore
- Net profit down 11 percent to Rs 38.8 crore
- EBITDA down 16 percent to Rs 61.2 crore
- Margin at 5.30 percent versus 7.50 percent
Brokerage Radar
- HDFC Bank: Credit Suisse maintained 'Outperform' on the stock with price target of Rs 1,955
- Phoenix Mills: HSBC retained its 'Buy' rating with price target of Rs 580
- Suzlon: IDFC Securities reiterated its 'Buy' rating with price target of Rs 28
- Apar Industries: Edelweiss maintained a 'Buy' rating on the stock with price target of Rs 990
- Dr. Reddy's: HSBC retained its 'Hold' on the stock with price target hiked to Rs 2,430 from Rs 2,286
- CG Power and Industrial Solutions: Morgan Stanley maintained an 'Equalweight' rating with price target raised to Rs 94 from Rs 60
Media Reports
- Bharti Airtel: In talks with handset companies for Rs 2,500 4G smartphone. (Economic Times)
- Infosys: To hire 6,000 engineers annually over next 2 years. (Mint)
- Future group stocks: Kishore Biyani sets sights on HyperCity to build bigger bazaar in future (Economic Times)
- Jyoti Structures: Shapoorji Pallonji, SSG Capital plan joint bid for Jyoti Structures acquisition. (Mint)
- KEC International: KEC and Kalpataru Power Transmission to pitch for majority stake in maker Jyoti Structures. (Mint)
- Biocon: Aspiring for $1 billion revenues by FY19. (Mint)
- ONGC: Company’s gas production plan from KG basin may miss June 2019 deadline. (Mint)
- Zee Entertainment: Eyes HD English movies with &Prive. (Business Standard)
- IndiGo: Eyes wet lease to cash in on winter traffic. (Business Standard)
- Coal India: To finalise Shakti contracts soon. (Economic Times)
- Lanco: To exit real estate business to focus on infrastructure. (Economic Times)
- Tata Motors: China looks to ban sale of petrol and diesel vehicles. (Times Of India)