- NMDC keeps prices of lump ore and fines unchanged at Rs 3,000 per tonne and Rs 2,660 per tonne.
- Century Plyboard unit writes off its entire investment in Indonesian subsidiary.
- Piramal Enterprises receives NCLT approval for merger of Piramal Finance and Piramal Capital with Piramal Housing Finance.
- RBI: FPI Investment limit in G-secs to be raised by 0.5 percent a year.
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Stocks in Asia fluctuated and U.S. equity-index futures rebounded as trade worries remained a key market driver, keeping risk appetite in check.
The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.4 percent at 10,296 as of 8:10 a.m.
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Here Are The Stocks To Watch Out For In Monday’s Trade
- Titan said that 2017-2018 was a very satisfactory year in terms of overall business performance. The company achieved excellent retail growth in all businesses.
- Inox Wind wins 100MW in SECI-4 auction. Bid won at a fixed price of Rs 2.51 a unit for 25 years. Orderbook increased to 950MW.
- NMDC keeps prices of lump ore and fines unchanged at Rs 3000 per tonne and Rs 2660 per tonne.
- Nitesh Estates awarded a claim of Rs 15 crore in a land dispute.
- Century Plyboard unit writes off its entire investment in Indonesian subsidiary.
- Visaka industries begins trial production at new ATUM manufacturing facility.
- Piramal Enterprises receives NCLT approval for merger of Piramal Finance and Piramal Capital with Piramal Housing Finance.
- ICICI Bank: Some board directors are likely to meet soon to discuss the way ahead for CEO Chanda Kochhar (Economic Times).
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New Listing/Offering
- Lemon Tree Hotels Limited to list on exchanges today. Its Rs 1,040 crore initial public offer was subscribed 1.19 times on the final day of bidding.
- Sona Koyo Steering offer-for-sale shares to non-retail investors gets 6.64 times demand; offer for retail investors opens today
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F&O Setup
- Nifty April Futures closed trading at 10,352.8 with a premium of 21 points versus 27 points.
- April series-Nifty open interest up 3 percent, Bank Nifty open interest down 2 percent.
- India VIX ended at 14.7, down 0.3 percent.
- Max open interest for April series at 11,000 call strike, open interest at 38 lakh, up 1 percent.
- Max open interest for April series at 10,000 Put, open interest at 49.2 lakh, open interest up 1 percent.
F&O Ban
- In ban: Jet Airways
- New in ban: Jet Airways
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
- Apollo Pipes: Hober Mallow Trust bought 59,307 shares or 0.5 percent equity at Rs 580 each.
AIA Engineering
- DSP Blackrock mutual fund bought 5.72 lakh shares or 0.6 percent equity at Rs 1400 each.
- Promoter Bhadresh Shah sold 29.99 lakh shares or 3.2 percent equtiy at Rs 1400.06 each.
Magma Fincorp
- Reliance mutual fund bought 42.39 lakh shares or 1.8 percent equity at Rs 154 each.
- IDBI mutual fund bought 45.39 lakh shares or 1.9 percent equity at Rs 154 each.
- Zend Mauritius VC Investments Ltd. sold 2.5 crore shares or 10.5 percent equity at Rs 154.25 each.
Brokerage Radar
Geojit on Cochin Shipyard
- Initiated ‘Buy’ with a price target of Rs 625.
- Market leader in ship repair and poised to grow further led by JVs and MoUs.
- Visibility to enlarge order book, led by defence.
- Expect to garner Rs 18,000 crore of orders over the next two years.
- Capacity to double in ship building & repairs by March 2022.
- Ship repair growth fuelled by capacity expansion.
- Return ratios to improve with ramp up in execution.
- Expect revenue, operating income and net profit to compound at 23 percent, 19 percent and 16 percent respectively over the fiscal 2017-2020.
ICICI Securities on Yes Bank
- Reinitiated ‘Buy’ with a price target of Rs 464; implying a potential upside of 48 percent from the last regular trade.
- Growth opportunity fairly abundant given smaller but growing balance sheet.
- Opportunties: new exposures to large corporates, refinancing opportunities in select NCLT cases.
- Expect retail expansion across the balance sheet.
- Stock to rerate as retail becomes a meaningful part.
- Expect 30 percent compounded growth rate in loans over the fiscal 2018-2020.
- Expect return on assets and return on equity to expand to 1.9 percent and 22.5 percent respectively by March 2020.
Angel Broking on GMM Pfaudler
- Initiated ‘Buy’ with a price target of Rs 861.
- Seeing strong order inflow from the user industries.
- Expect increase in share of non-GL business to 50 percent by 2020
- Non-GL business and exports to boost growth.
- GMM likely to maintain above 20 percent growth trajectory through the financial years till March 2020.
- Expect margins to remain healthy.
- Strong balance sheet and healthy return ratios.
- Stock valuations offers good opportunity to enter.
Macquarie on Jubilant Life Sciences
- Maintained ‘Outperform’ with a price target of Rs 1,096; implying a potential upside of 34 percent form the last regular trade.
- Specialty ramp-up to be back in focus.
- Keep an eye on green shoots in pricing for Jubilant’s US generics biz.
- Expect solid Q4FY18 led by aftereffects of LSI and pickup in specialty pharma.
- Valuations look attractive; Top mid-cap pharma pick.
Citi on Zee Entertainment
- Maintained ‘Neutral’; cut price target to Rs 605 from Rs 650.
- Expect higher investments in Zee due to competitive intensity.
- Advertising trends remain healthy.
- TRAI tariff regulations remains key variable for subscription revenue.
- Q4: OTT losses weigh on earnings; Base business steady.
HSBC on Larsen & Toubro
- Maintained ‘Buy’ with a price target of Rs 1,535.
- Order inflows set to surprise positively for December quarter.
- Expect 9 percent (YoY) order inflow growth for Q4 versus 16 percent (YoY) decline implied from company guidance.
- Expect modest revenue growth but a marginal decline in EPS owning to one-offs.
- Expect Earnings to compound at 21 percent over the fiscal 2017-2019 and return on equity to improve to 16.3 percent by March 2020.
Investec on PNB Housing Finance
- Initiated ‘Buy’ with a price target of Rs 1,600.
- Expect PNB Housing Finance to grow at healthy pace.
- PNBHF has best asset quality, productivity and diversified asset/liability mix.
- PNBHF is the fastest growing HFC with best-in-class asset quality.
- Business is highly scalable with reasonable return ratios.
- Growth to drive return on equity to expand to 18 percent by March 2020.