Asian equities fell and U.S. stock futures headed lower, extending the biggest selloff for global stocks in two years as investors adjusted to a surge in global bond yields.
The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.8 percent to 10,623 as of 7:00 a.m.
Here Are The Stocks To Watch Out For In Monday’s Trade:
- GAIL places order of Rs 440 crore for 350 kilometers Vijaipur (UP) – Auraiya (MP) spurline and Rs 3,500 crore capex for City Gas Distribution in financial year 2019.
- Tata Steel completes completion of 74 percent stake in Bhubaneshwar Power for Rs 255 crore.
- GMR Infra to acquire 4.15 crore shares (11 percent) in GMR Hyderabad International Airport for $76 million (approx. Rs 484 crore).
- Cera sanitaryware to further explore the proposal to hike stake in Dubai arm.
- Avenue Supermarts completes acquisition of 4.35 crore in Avenue E-Commerce for Rs 49.2 crore.
- Info Edge clarifies that Alipay Singapore has acquired 32,629 shares in Zomato.
- Mangalam Organics to buyback 6.10 lakh shares (6.74 percent equity) at Rs 230 each.
- Aurobindo Pharma gets U.S. FDA approval for Niacin.
F&O Setup
- Nifty February futures trade at 10,755.8. discount of 4 points premium of 14 points.
- February series-Nifty OI down 4 percent, Bank Nifty OI down 7 percent.
- India VIX ended at 15.2, up 8 percent.
- Max OI for February series at 11,500 call strike , OI at 65.2 lakh, OI up 7 percent.
- Max OI for February series at 10,500 Put, OI at 59.8 lakh, OI up 1 percent.
F&O Ban
- In Ban: Fortis Healthcare, HDIL, India Cement, JP Associates, Wockhardt.
- New In Ban: HDIL, India Cement.
- Out of Ban: Jain Irrigation.
Alert: Only intraday positions can be taken in stocks which are in F&O ban. There is a penalty in case of rollover of these intraday positions.
Active Stock Futures
Bulk Deals
Camlin Fine Sciences
- Northern Trust Global Investments Collective Funds Trust bought 6.90 lakh shares (0.6 percent) at Rs 120.29 each
Mastek Ltd
- AJO Emerging Markets Small-Cap Master Fund, Ltd bought 1.26 lakh shares (0.5 percent) at Rs 461.17 each
TTK Healthcare
- The Royal Bank Of Scotland Plc As Trustee Of Jupiter India Fund bought 46,696 shares (0.6 percent) at Rs 812.4 each
- Jupiter South Asia Investment Company Ltd sold 46,696 shares (0.6 percent) at Rs 812.4 each
Elpro International
- The Royal Bank Of Scotland Plc As Trustee Of Jupiter India Fund bought 14.64 lakh shares (1.1 percent) at Rs 60.9 each
- Jupiter South Asia Investment Company Ltd sold 14.64 lakh shares (1.1 percent) at Rs 60.9 each
Repco Home
- Apax Global Alpha Limited bought 6.50 lakh shares (1 percent) at Rs 595 each
- Nomura India Investment Fund Mother Fund sold 6.50 lakh shares (1 percent) at Rs 595 each
Yuken India
- India bulls AMC bought 15,186 shares (0.5 percent) at Rs 4,296.24 each
Earnings Reaction To Watch
3M India Q3 (YoY)
- Revenue up 12 percent at Rs 646 crore.
- Net profit up 119 percent at Rs 92 crore.
- Ebitda up 94 percent at Rs 126 crore.
- Margin at 19.5 percent versus 11.3 percent.
Mirza International Q3 (YoY)
- Revenue up 11 percent at Rs 254 crore.
- Net profit up 21 percent at Rs 20.9 crore.
- Ebitda up 14 percent at Rs 45.6 crore.
- Margin at 18 percent versus 17.5 percent.
United Breweries Q3 (YoY)
- Revenue up 17 percent at Rs 1,197 crore.
- Net profit down 3 percent at Rs 47 crore.
- Ebitda up 19 percent at Rs 152.5 crore.
- Margin at 12.7 percent versus 12.5 percent.
Tata Global Beverages Q3 (YoY)
- Revenue down 0.6 percent at Rs 1,730 crore.
- Net profit up 31 percent at Rs 168 crore.
- Ebitda up 29 percent at Rs 234.5 crore.
- Margin at 13.6 percent versus 10.5 percent.
Bajaj Holdings & Investment Q3 (YoY)
- Revenue up 15 percent at Rs 318 crore.
- Net profit up 41 percent at Rs 914 crore.
Glaxosmithkline Pharmaceuticals Q3 (YoY)
- Revenue flat at Rs 704 crore.
- Net profit up 70 percent at Rs 90 crore.
- Ebitda up 172 percent at Rs 141.5 crore.
- Margin at 20.1 percent versus 7.4 percent.
Thomas Cook Q3 (YoY)
- Revenue up 51 percent at Rs 3,005 crore.
- Net profit of Rs 10 crore versus net loss of Rs 7.7 crore.
- Ebitda up 124 percent at Rs 120 crore.
- Margin at 4 percent versus 2.7 percent.
Hi-Tech Gears Q3 (YoY)
- Revenues up 33 percent at Rs 124 crore.
- Net profit up 124 percent at Rs 7.4 crore.
- Ebitda up 78 percent at Rs 16 crore.
- Margin at 12.9 percent versus 9.6 percent.
Aegis Logistics Q3 (YoY)
- Revenue up 15.6 percent at Rs 1,442 crore.
- Net profit up 44.6 percent at Rs 53.5 crore.
- Ebitda up 21 percent at Rs 72 crore.
- Margin at 5 percent versus 4.8 percent.
IEX Q3 (YoY)
- Revenue up 30 percent at Rs 65 crore.
- Net profit up 24 percent at Rs 36 crore.
- Ebitda up 43 percent at Rs 53 crore.
- Margin at 81.5 percent versus 74 percent.
Mangalam Organics Q3 (YoY)
- Revenue up 95 percent at Rs 78 crore.
- Net profit up 125 percent at Rs 3.6 crore.
- Ebitda up 113 percent at Rs 6.4 crore.
- Margin at 8.2 percent versus 7.5 percent.
CL Educate Q3 (YoY)
- Revenue up 34 percent at Rs 65 crore.
- Net loss of Rs 0.5 crore versus net loss of Rs 1.3 crore.
- Ebitda loss at Rs 1 crore versus Ebitda loss at Rs 2.5 crore.
- Margin at -1.5 percent versus -5.2 percent.
Tata Metaliks Q3 (YoY)
- Revenues up 63 percent at Rs 490 crore.
- Net profit up 105 percent at Rs 40 crore.
- Ebitda up 69 percent at Rs 72 crore.
- Margin at 14.7 percent versus 14.2 percent.
RPG Life Sciences Q3 (YoY)
- Revenue up 45 percent at Rs 95.7 crore.
- Net profit up four times at Rs 5.5 crore.
- Ebitda up 127.7 percent at Rs 12 crore.
- Margin at 12.5 percent versus 8 percent.
Thyrocare Technologies Q3 (YoY)
- Revenue up 19.2 percent at Rs 83.9 crore.
- Net profit up 134 percent at Rs 21.5 crore.
- Ebitda up 34.7 percent at Rs 35.4 crore.
- Margin at 42.2 percent versus 37.3 percent.
- Exceptional loss of Rs 6.8 crore in base quarter.
Aarti Industries Q3FY18 (YoY)
- Revenue up 28.6 percent at Rs 990.2 crore.
- Net profit up 22.1 percent at Rs 90.2 crore.
- Ebitda up 18.3 percent at Rs 177.8 crore.
- Margin at 17.96 percent versus 19.50 percent.
Lumax Industries Q3 (YoY)
- Revenue up 25.5 percent at Rs 370.8 crore.
- Net profit up 9.1 percent at Rs 18.0 crore.
- Ebitda up 29.8 percent at Rs 32.9 crore.
- Margin at 8.9 percent versus 8.6 percent.
Relaxo Footwears Q3 (YoY)
- Revenue up 24.9 percent at Rs 457.5 crore.
- Net profit up 56.8 percent at Rs 38.18 crore.
- Ebitda up 34.8 percent at Rs 71.86 crore.
- Margin at 15.7 percent versus 14.5 percent.
Selan Exploration Q3 (YoY)
- Revenue up 50.2 percent at Rs 21.22 crore.
- Net profit up 166.8 percent at Rs 6.6 crore.
- Ebitda up 314 percent at Rs 8.9 crore.
- Margin at 41.9 percent versus 15.2 percent.
Accelya Kale Q3 (YoY)
- Revenue up 4.5 percent at Rs 92 crore.
- Net profit down 3 percent at Rs 22.3 crore.
- Ebitda up 2 percent at Rs 35.6 crore.
- Margin at 38.7 percent versus 39.8 percent.
Gujarat Gas Q3 (QoQ)
- Revenue up 13 percent at Rs 1571 crore.
- Net profit down 1.6 percent at Rs 60 crore.
- Ebitda flat at Rs 200 crore.
- Margin at 12.7 percent versus 14.5 percent.
Sical Logistics Q3 (YoY)
- Revenue up 33 percent at Rs 329 crore.
- Net profit down 40 pecent at Rs 6 crore.
- Ebitda up 11 percent at Rs 43 crore.
- Margin at 13.1 percent versus 15.6 percent.
Pokarna Q3 (YoY)
- Revenue down 1 percent at Rs 88 crore.
- Net profit down 21 percent at Rs 13.6 crore.
- Ebitda down 6 percent at Rs 30 crore.
- Margin at 34.1 percent versus 36 percent.
Inox Wind Q3 (YoY)
- Revenue down 92 percent at Rs 91 crore.
- Net loss of Rs 46 crore versus net profit of Rs 107.5 crore.
- Ebitda loss at Rs 18 crore versus Ebitda profit of Rs 185 crore.
- Margin at -19.8 percent versus 15.9 percent.
Jindal Drilling Q3 (YoY)
- Revenue down 67 percent at Rs 36 crore.
- Net loss of Rs 2.3 crore versus net profit of Rs 7.65 crore.
- Ebitda loss at Rs 5.4 crore versus Ebitda profit of Rs 4.4 crore.
- Margin at -15 percent versus 4.1 percent.
Union Bank Of India Q3 (YoY)
- NII up 19.3 percent at Rs 2,548.26 crore.
- Net loss at Rs 1,250 vrore versus net profit of Rs 104 crore.
- Gross NPA at 13.03 percent versus 12.35 percent (QoQ).
- Net NPA at 6.96 percent versus 6.70 percent (QoQ).
Procter & Gamble Hygiene Q2 (YoY)
- Revenues up 9.5 percent at Rs 704.16 crore.
- Net profit down 12.9 percent at Rs 131.24 crore.
- Ebitda down 8.0 percent at Rs 210.23 crore.
- Margin at 29.85 percent versus 35.54 percent.
Vinati Organics Q3FY18 (YoY)
- Revenues up 12.9 percent at Rs 185.65 crore.
- Net profit down 9.4 percent at Rs 31.73 crore.
- Ebitda down 9.5 percent at Rs 49.84 crore.
- Margin at 26.8 percent versus 33.5 percent.
Seshasayee Paper and Boards Q3FY18 (YoY)
- Revenue up 1.3 percent at Rs 294.8 crore.
- Net profit down 10.3 percent at Rs 30.92 crore.
- Ebitda down 18.7 percent at Rs 47.8 crore.
- Margin at 16.2 percent versus 20.2 percent.
- This quarter includes exceptional gain of Rs 4.8 crore.
Nifty Results To Watch
- Bosch
- Tata Motors
Other Earnings To Watch
- Cochin Shipyard
- Colgate Palmolive
- ENIL
- Eveready
- Greaves Cotton
- Hudco
- IFCI
- Timken India
- Ujjivan Financial Services
- Westlife Development
Brokerage Radar
Macquarie on Bajaj Auto
- Maintained ‘Underperform’ with price target of Rs 2,900.
- December quarter was lower than expected operating performance.
- Domestic motorcycle market share continues to decline.
- Exports grew strongly off a low base.
- Three-wheelers near-term outlook is positive.
- New models have not sustained initial momentum.
- Expect Bajaj to grow slower than domestic motorcycle industry in the next financial year.
JPMorgan on Bajaj Auto
- Maintained ‘Neutral’ with price target of Rs 3,250.
- December quarter’s operating income in line with expectations.
- Export recovery sustains; New market contribution is steadily improving.
- Three wheeler was the best-performing segment for the business.
- Recovery in domestic market key monitorable.
JPMorgan on Hindalco
- Maintained ‘Overweight’ with price target of Rs 335.
- December quarter missed estimates across operating income and net profit on account of Utkal.
- Standalone operations do not fully capture earnings strength.
- Prepayment of debt continues.
- December quarter upside was limited by Coal India price increase.
- Capital allocation key monitorable going forward.
Macquarie on Hindalco
- Maintained ‘Outperform’ with price target of Rs 328.
- December quarter’s standalone operating income was below estimate due to industrywide cost inflation.
- Better placed during cost inflation.
- Copper: Higher addition to offset margin headwinds.
- Aluminium – Headwinds from hedges and costs to reduce.
- Novelis reported five-year high Operating margin
- Hindalco remains high conviction top pick in metals coverage.
CLSA on Godrej Properties
- Maintained ‘Buy’; cut price target to Rs 1,058 from Rs 1,078.
- December quarter results below estimates on lower margins.
- Cash flows were good with net debt down.
- Pre-sales surge continues; Major scale-up in progress.
- Project additions continue as ‘weak hands’ exit.
- Godrej Properties remains top real estate sector pick.
Macquarie on Godrej Properties
- Maintained ‘Neutral’; Raise price target to Rs 858 from Rs 650.
- Business development in full swing; To remain strong focus area.
- Liquidation of commercial inventory in BKC largely done.
- Management expects prices to remain stable over next year.
- Preferred picks are Prestige Estates and Phoenix Mills.
Morgan Stanley on Tata Global Beverages
- Maintained ‘Underweight’ with price target of Rs 150.
- December quarter was a mixed bag.
- Strong performance in domestic business.
- Revenue growth in international and plantation remained weak.
- Starbucks and Nourishco now profitable at operating level.
- See limited potential for any structural upturn in core business.