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Stocks To Watch: DCB Bank, Reliance Industries, Strides Shasun

SGX Nifty indicates a flat start to trade

Traders at a Brokerage Firm in Mumbai, India (Photographer: Prashanth Vishwanathan/Bloomberg)
Traders at a Brokerage Firm in Mumbai, India (Photographer: Prashanth Vishwanathan/Bloomberg)

The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India, was little changed at 9,236.

Here are the stocks to watch out for in today’s session:

  • Strides Shasun: Says U.S. drug regulator successfully completed the inspection of its API facility at Cuddalore in in Tamil Nadu with zero 483 observations.
  • DCB Bank: Looks to raise Rs 400 crore through QIP at a floor price of Rs 177.39
  • State Bank of India: Will exercise the call option for bonds aggregating to Rs 2,523.5 crore
  • Dollar Industries: L&T Mutual Fund buys 3.5 lakh shares at Rs 1,448.65 each
  • Pneumatic Holdings: Receives order from NCLT sanctioning merger between Kirloskar RoadRailer Ltd., Pneumatic Holdings Ltd. and Kirloskar Pneumatic Company Ltd.
  • Peninsula Land: Proposes to raise Rs 2,500 crore via non-convertible debentures on private placement basis
  • DPSC: Announces OFS of 2.5 crore shares at a floor price of Rs 40 per share
  • JM Financial: Board of JM Financial Asset Management approves buyback of 10 percent of its outstanding equity capital subject to shareholder approval

Media Reports

  • Reliance Industries: Reliance Trends readies for debut on Amazon, Flipkart to expand reach. (Economic Times)
  • Arvind: Launches ready-to-wear brand in Gujarat, Karnataka. (Economic Times)
  • Bharti Airtel: To offer services that will help users control household devices via smartphone. (Economic Times)
  • Parsvnath Developers: Told to handover habitable flats in two weeks. (Economic Times)
  • Adani Power, Tata Power: Experts say under-recovery of energy charges to impact both companies. (Economic Times)
  • Unitech: Supreme Court likely to attach property for deposit failure. (Economic Times)
  • Tata Power: May look to sell cross holdings to support Mundra plant. Company's investments in listed entities is close to Rs 1,283 crore. (Business Standard)
  • Maruti: To unveil new model of Dzire on May 16. (Business Standard)
  • Golden Tobacco: Says tax department quashed penalties worth Rs 80.71 crore. (Bloomberg)
  • Jammu and Kashmir Bank: Board approves raising Rs 1,000 crore via debentures or bonds. (Bloomberg)
  • Vascon Engineers: To consider debenture issue on April 27. (Bloomberg)

Brokerages Reports

  • Reliance Industries: Cut to 'Reduce' at HSBC with a price target of Rs 1,170
  • ACC: Raised to 'Hold' at HSBC with a price target of Rs 1,680
  • Mahindra and Mahindra: Raised to 'Outperform' at Credit Suisse with a price target of Rs 1,500
  • Equitas Holdings: Rated a new 'Buy' at HSBC with a price target of Rs 194
  • Gujarat Petronet: Cut to 'Neutral' at IDFC Securities
  • Bharat Forge: Cut to 'Accumulate' at Prabhudas Lilladher

Source: Bloomberg

Earnings Reaction To Watch

Reliance Industries Q4

  • Consolidated net profit up 7 percent to Rs 8,053 crore compared to Rs 7,524 crore year-on-year
  • Consolidated revenues grew 10.3 percent to Rs 92,889 crore from Rs 84,189 crore
  • Gross Refining Margins at $11.5 per barrel
  • Declared a dividend of Rs 11 per share

Rallis India Q4

  • Revenue fell 1 percent to Rs 366 crore from Rs 370 crore year-on-year
  • Net profit fell 10 percent to Rs 31 crore from Rs 34.4 crore last year

Indiabulls Housing Finance Q4

  • Net profit up 24 percent to Rs 840.53 crore compared to Rs 675.5 crore last year
  • Revenue increased 31.2 percent to Rs 2,931.39 crore
  • Provisioning for bad loans increased to Rs 238.42 crore against Rs 135.2 crore last quarter
  • To pay interim dividend of Rs 9 per share

Earnings To Watch

  • Wipro: Q4 revenue at Rs 13,817 crore; net profit at Rs 2,122.6 crore.
  • IDFC Bank: Q4 net interest Income at Rs 529 crore; net profit at Rs 132 crore.
  • ICICI Prudential Life Insurance: Q4 net profit at Rs 1,762 crore for FY17