- Five metal giants express interest in Essar Steel.
- Reliance Communications to merge wireless business of Sistema Shyam with itself.
- Cochin Shipyard forms a joint venture with Hooghly Dock & Port Engineers.
- IVRCL Infra lenders decide to exit from corporate debt restructuring.
- Indiabulls Housing Finance net profit up 25.8 percent to Rs 861 crore.
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Indian benchmark indices rose on Monday, buoyed by telecom stocks and Reliance Industries Ltd., as trading resumed after a three-day break following Thursday's ceremonial session.
Both S&P BSE Sensex and NSE Nifty 50 closed trading 0.4 percent higher.
Fourteen out of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Telecom Index's 2.8 percent surge. On the flipside, the S&P BSE FMCG Index was the top sectoral loser, down 0.66 percent.
The Singapore-traded SGX Nifty, an early indicator of Nifty 50 Index’s performance in India, fell 0.14 percent to 10,186 as of 7:30 am.
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Here are the stocks to watch out for in today’s session:
- Reliance Communication: To merge wireless business of Sistema Shyam with itself
- IndusInd Bank: Launched m-wallet with MobiKwik
- Cochin Shipyard: Formed JV with Hooghly Dock & Port Engineers
- IVRCL Infra: Lenders decided to exit from Corporate Debt Restructuring mechanism
- Kaya: To invest Rs 51 crore in Singapore-based subsidiary KME Holdings
- State Bank of India and Escorts Limited: Signed MoU for financing Tractors
- Tourism minister to talk to finance minister over high GST on 5-star hotels: Bloomberg
- SEBI: Disposed adjudication proceedings against Prannoy Roy
- Realty sector to continue to face headwinds in near-term: ICRA
Other Corporate Announcements
Indiabulls Housing Finance
- To raise up to Rs 25,000 crore via secured NCDs
- To raise up to Rs 3,000 crore via unsecured NCDs
Mahindra Logistics
- Price band for IPO fixed at Rs 425 to Rs 429
- Discount of Rs 42 per share will be offered to its eligible employees
- Minimum bid lot for the offer is fixed at 34 equity shares and in multiples of 34 shares thereafter
IPO Watch
- General Insurance Corp to be listed on October 25
- Mahindra Logistics sets IPO price band at Rs 425-429 per share
Circuit Revisions
- Vishal Fabrics: Ex date for stock split from Rs10 to Rs5 each
- Siyaram Silk Mills: Last trading day before stock split from Rs 10 to Rs 2 per share
- Circuit filter revised to 10 percent: Ferro Alloys, GNFC, Shiva Cements, Pondy Oxides, Balasore Alloys
- Viji Finance: Circuit filter revised to 5 percent
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F&O Setup
- Nifty October Futures closed with a premium of 4.7 points at 10,189.7
- Nifty rollover at 17 percent; Bank Nifty rollover at 16 percent.
- India VIX closed 0.5 percent lower at 12.3
- October series highest Call base at 10,200 (open interest at 43.7 lakh, down 6 percent)
- October series highest Put base at 10,000 (open interest at 69.7 lakh, down 7 percent)
- October Call strikes 10,200 saw unwinding and 10,150 & 10,250 saw open interest addition
- October Put strikes 10,000, 10,150 saw open interest addition
F&O Ban
- Bharat Earth Movers
- DHFL
- HDIL
- Indiabulls Real Estate
- Infibeam
- JP Associates
- JSW Energy
- Reliance Capital
Active Stock Futures
- PFC saw open interest addition of 19 percent on long side
- V-Guard saw open interest addition of 15 percent on long side
- Ceat saw open interest addition of 15 percent on short side
- IGL saw open interest addition of 10 percent on long side
- Dish TV saw open interest addition of 10 percent on short side
- RCom saw open interest addition of 9 percent on long side
- MGL saw open interest addition of 9 percent on long side
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Bulk Deals
Sunteck Realty
- Fidelity Emerging Markets Fund bought 30.11 lakh shares or 2.4 percent stake at Rs 321.6 each (average)
- Shri Gopikrishna Trust sold 14.73 lakh shares or 1.2 percent stake at Rs 321.6 each (average)
S Chand
- HDFC Mutual Fund bought 2.96 lakh shares or 0.9 percent stake at Rs 455 each
IOL Chemicals and Pharma
- Indiastar (Mauritius) Ltd. sold 11 lakh shares or 2 percent stake at Rs 60.22 each
Wimplast
- Ghisulal Rathod bought 1.01 lakh shares or 0.8 percent stake at Rs 1300 each
MoldTek Technologies
- N G Industries bought 3.06 lakh shares or 1.1 percent stake at Rs 53.5 each
- UNO Metals sold 3.06 lakh shares or 1.1 percent stake at Rs 53.5 each
Viceroy Hotels
- Canara Bank Securities sold 2.8 lakh shares or 0.7 percent stake at Rs 17.25 each
Amarjothi
- Care portfolio Managers sold 37,970 shares or 0.6 percent stake at Rs 220.94 each
PG Electroplast
- Satpal Khattar bought 1.65 lakh shares or 1 percent stake at Rs 396 each
Earnings Reactions To Watch
Indiabulls Housing Finance (Q2, YoY)
- Net Interest income up 27.1 percent to Rs 1,389 crore
- Net profit up 25.8 percent to Rs 861 crore
- Gross NPA at 0.78 percent versus 0.80 percent (QoQ)
- Net NPA unchanged at 0.31 percent (QoQ)
Oriental Hotels (Q2, YoY)
- Revenue up 8.7 percent to Rs 87 crore
- EBITDA up 44 percent to Rs 13 crore
- Margins at 14.9 percent versus 11.3 percent
- Net profit of Rs 3 crore versus net loss of Rs 1.4 crore
Automotive Stampings (Q2, YoY)
- Revenue fell 12.5 percent to Rs 70 crore
- EBITDA loss of Rs 8.5 crore versus loss of Rs 1 crore
- Margins at negative 12.1 percent versus negative 1.3 percent
- Net loss of Rs 14 crore versus net loss of Rs 4 crore
Nifty Results Today
- Ambuja Cements
- Asian Paints
- HDFC Bank
- Infosys
- Zee Entertainment
Other Results Today
- ABB India
- Can Fin Homes
- ICICI Prudential Life Insurance Company
- Mahindra CIE Automotive
- Rallis India
- Raymond
- Artson Engineering
- Ashirwad Steels And Industries
- Bengal And Assam Company
- Chambal Fertilizers And Chemicals
- GHCL
- GKW
- HBL Power Systems
- Indian Metals And Ferro Alloys
- International Paper Appm
- Jenson And Nicholson
- Jk Agri Genetics
- Phillips Carbon Black
- Radico Khaitan
- Saregama India
- TTK Prestige
- Vertex Securities
- Visa Steel
Brokerage Radar
- Sun Pharma: Macquarie maintained 'Underperform' on the stock with price target of Rs 440
- Lupin: Macquarie maintained its 'Neutral' stance on the stock with price target of Rs 1,022
- Dr. Reddy's Lab: Macquarie maintained its 'Neutral' stance on the stock with price target of Rs 2,500
- Cipla: Macquarie maintained its 'Neutral' stance on the stock with price target of Rs 632
- Cadila: Macquarie maintained 'Underperform' on the stock with price target of Rs 415
- Glenmark Pharma: Macquarie maintained its 'Outperform' rating with price target of Rs 728
- Jubilant Life: Macquarie maintained its 'Outperform' rating with price target of Rs 900
- Strides Shasun: Macquarie maintained its 'Outperform' rating with price target of Rs 1,100
Havells India
- CLSA maintained its 'Sell' on the stock with price target hiked to Rs 525 from Rs 470
- Credit Suisse maintained its 'Neutral' rating on the stock with price target hiked to Rs 550 from Rs 535
- UBS maintained its 'Sell' on the stock with price target of Rs 375
- Citi maintained its 'Neutral' stance on the stock with price target of Rs 575
Hindustan Zinc
- Macquarie maintained its 'Outperform' rating on the stock with price target hiked to Rs 329 from Rs 300
- Citi maintained its 'Neutral' stance on the stock with price target of Rs 300
Indiabulls Housing Finance
- UBS maintained its 'Neutral' rating on the stock with price target hiked to Rs 1,250 from Rs 1,150
- Credit Suisse maintained its 'Outperform' on the stock with price target hiked to Rs 1,600 from Rs 1,400
- Macquarie downgraded stock to 'Underperform' from 'Neutral' with price target of Rs 1,095
- CLSA maintained 'Buy' on the stock with price target of Rs 1,500
Media Reports
- Infosys: May name CEO today, former executives BG Srinivas and Ashok Vemuri among probables. (Business Standard)
- Essar Steel: Tata Steel and Ruias to submit bid for Essar Steel, JSW Steel gives it a skip
- SREI Infrastructure: Submits expression of interest for its debtor Electrosteel Steel. (Business Standard)
- ONGC: Anil Agarwal tells Government to privatise idle assets of CIL and ONGC. (Economic Times)
- Maruti: Wants pole position in the Utility Vehicles segment. (Economic Times)
- NTPC: Searches buyers for Kadapa Solar park's power. (Economic Times)
- SEL Manufacturing: Bankruptcy proceedings filed against SEL Manufacturing. (Mint)
- Canara Bank: To hire I-banks for sale of non-core assets. (Mint)