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Stocks To Watch: DCB Bank, Reliance Industries, Strides Shasun
SGX Nifty indicates a flat start to trade
25 Apr 2017, 08:20 AM IST
The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India, was little changed at 9,236.
The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India, was little changed at 9,236.
Your Tuesday morning briefing.https://t.co/67EfMDCOoG pic.twitter.com/6Og3zsng7r
— BloombergQuint (@BloombergQuint) April 25, 2017
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
DCB bank may offer a discount of not more than 5% on the floor price for the QIP. https://t.co/dexZ7vXWir
— BloombergQuint (@BloombergQuint) April 24, 2017
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)
Indiaâs bad loan problem not âinsurmountableâ, says Arun Jaitley. https://t.co/Ft4gyhFYsd pic.twitter.com/Ysjy4GoM3R
— BloombergQuint (@BloombergQuint) April 24, 2017
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
Oil prices fall for sixth straight day.https://t.co/H7LBDMVMtG pic.twitter.com/n32XnXOq8I
— BloombergQuint (@BloombergQuint) April 24, 2017
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
All you need to know about RIL earnings. https://t.co/4DQgs41VFy pic.twitter.com/1dyL3EMyco
— BloombergQuint (@BloombergQuint) April 24, 2017
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
Why did NCLT dismiss Mistryâs petitions? @VarunAcj reports. https://t.co/REqK96EMef pic.twitter.com/b0DAwp91iZ
— the fineprint. (@BQthefineprint) April 24, 2017
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