Stocks To Watch: Aban Offshore, JP Associates, Reliance, Wipro

The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India was little changed at 9,904.

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

Reliance Industries (Q1, YoY)

• Revenue down 4.4 percent to Rs 64,217 crore
• EBITDA up 2.7 percent to Rs 11,589 crore
• EBITDA margin expands to 18 percent from 16.8 percent
• Net profit up 0.6 percent to Rs 8,196 crore
• To acquire 2.52 crore shares or 24.92 percent stake in Balaji Telefilms at Rs 164 per share for a total investment of Rs 413.28 crore
• To invest up to $25 million in Jerusalem Innovation Incubator over a period of about 8 years

Wipro (Q1, QoQ)

• Revenue up 2.6 percent to Rs 13,626 crore
• EBIT down 9.7 percent to Rs 2,174 crore
• EBIT margin contracts to 16 percent from 16.7 percent
• Net profit down 8.1 percent to Rs 2,077 crore
• To buyback up to 34.37 crore shares worth Rs 11,000 crore at Rs 320 per share
• Shareholders approve appointment of Azim Premji as Executive Chairman and Managing Director of the company
• Expects revenue to remain flat or lower in the next quarter between $1.96 billion and $2 billion

Rallis India

• To sell its stake in Advinus for a consideration of Rs 17.32 crore
• Board approves scheme of amalgamation with Zero Waste Agro-Organics subject to NCLT approval

Welspun Corp

• Won an order for supply of 100K MTs pipes
• Current order book of the company stands at Rs 4,200 crore

• Aurobindo Pharma: U.S. FDA gives tentative approval to Esomeprazole Magnesium capsule.
• Jaiprakash Associates: Rakesh Jhunjhunwala bought 2.5 crore shares during the June quarter
• Jubilant Life Sciences: Rakesh Jhunjhunwala picks up 1.26 percent stake in the company
• Aban Offshore: Promoter sells 20,000 shares in the open market

Other Corporate Announcements

• Gravita India: Started commercial production of PET Flakes at its Jamaican unit
• Hindustan Motors: HPCL withdraws application for initiating insolvency proceedings against company
• Amrutanjan: Received NCLT nod for scheme of amalgamation between Amrutanjan Pharmaessense and self

Today’s Nifty Call

Bulk Deals

V-Mart Retail

• Fidelity Funds - Asian Smaller Companies Pool sold 4.39 lakh shares or 2.4 percent stake at Rs 1,143.02 each
• GMO Emerging Domestic Opportunities Fund bought 2.86 lakh shares or 1.6 percent stake at Rs 1,143 each

Time Techoplast

• Morgan Stanley Asia (Singapore) Pte sold 54.66 lakh shares or 2.4 percent stake at Rs 156.25 each
• Kap For Investment Pro DLT AKTIER Asien Ex-Japan bought 46.41 lakh shares or 2.1 percent stake at Rs 156.1 each

Honda Siel Power

• Reliance Mutual Fund bought 89,800 shares or 0.9 percent stake at Rs 1,350.01 each
• Prasoon Harshad Bhatt sold 90,000 shares or 0.9 percent stake at Rs 1,350.01 each.
• Bhatt reduced his stake to 11,700 shares or 0.1 percent

Sterling Tools

• IDFC Mutual Fund bought 4.80 lakh shares or 1.4 percent stake at Rs 265 each
• Promoter Anil Aggarwal sold 4.75 lakh shares or 1.4 percent stake at Rs 265
• Aggarwal reduced his stake to 73.65 lakh shares or 21.51 percent

Omkar Speciality Chemicals

• Promoter Pravin Herlekar Omkar sold 2.25 lakh shares or 1.1 percent stake at Rs 97.04 each
• Promoter reduced his stake to 50.26 lakh shares or 24.4 percent

Graphite India

Morgan Stanley (France) S.A. bought 12 lakh shares or 0.6 percent at Rs 196.39 each

F&O Setup

• Nifty Bank sees open interest addition of 1.7 lakh shares
• Nifty Bank continues to show more strength than the Nifty
• Rangebound market with support at 9,800 and resistance at 10,000 levels
• Nifty Put-Call Ratio drops as call writers aggressive at 9,900 - 10,100 levels
• Put writers avoid any major positions; shed positions at 9,900 - 10,000

Active Stock Futures

• Engineers India: Sees open interest addition of 11 percent on the long side
• L&T Finance: Sees open interest addition of 8 percent on the long side
• Axis Bank: Sees open interest addition of 3 percent on the long side
• Just Dial: Sees short covering on open interest shedding of 18 percent
• Power Finance Corporation: Sees short covering on open interest shedding of 5 percent

Stocks In F&O Ban

• Fortis Healthcare
• DLF
• GMR Infrastructure
• Infibeam
• JSW Energy
• Just Dial
• Kaveri Seeds
• Oriental Bank of Commerce
• Network18
• Sintex
• Ujjivan Financial Services
• Jaiprakash Associates

Earnings Reaction To Watch

RBL Bank Q1

• Net Interest Income up 54.3 percent to Rs 378 crore
• Net profit up 45.4 percent to Rs 141 crore
• Provisions up to Rs 94 crore from Rs 82 crore (QoQ)
• Gross NPA at 1.46 percent from 1.20 percent (QoQ)
• Net NPA at 0.81 percent from 0.64 percent (QoQ)

Bajaj Holdings & Investment (Q1, YoY)

• Revenue up 30.4 percent to Rs 152.45 crore
• Net profit up 29.4 percent to Rs 110.96 crore

Mahindra CIE Automotive (Q2CY17, YoY)

• Revenue up 12.5 percent to Rs 504 crore
• EBITDA up 7.4 percent to Rs 42.7 crore
• EBITDA margin down to 9.5 percent from 9.8 percent
• Net profit up 63.6 percent to Rs 18 crore

Nucleus Software (Q1, QoQ)

• Revenue up 0.7 percent to Rs 94.3 crore
• EBITDA down 29 percent to Rs 10.2 crore
• EBITDA Margin down to 10.8 percent from 15.3 percent
• Net profit down 43.3 percent to Rs 11.5 crore

Cupid (Q1, YoY)

• Revenue up 22 percent to Rs 19.7 crore
• EBITDA up 14 percent to Rs 7.4 crore
• EBITDA Margin down to 38 percent from 40 percent
• Net profit up 13 percent to Rs 4.3 crore

Rallis India (Q1, YoY)

• Net profit down 74 percent to Rs 45.25 crore
• Revenue down 0.9 percent to Rs 463 crore
• EBITDA down 6.8 percent to Rs 69.45 crore
• EBITDA Margin down to 15.6 percent from 16.6 percent

Zensar Technologies (Q1, QoQ)

• Revenue down 0.9 percent to Rs 736.65 crore
• EBITDA up 27.7 percent to Rs 74.7 crore
• EBITDA Margin up to 10 percent from 8 percent
• Net profit up 349.5 percent to Rs 48.1 crore

Brokerage Calls

Hindustan Zinc

• Credit Suisse maintains 'Neutral' with price target of Rs 273
• JPMorgan maintains 'overweight' with price target of Rs 310

Reliance Industries

• Morgan Stanley maintained 'Overweight' and set the price target at Rs 1,531
• JP Morgan maintained 'Neutral' with the price target of Rs 1,310

Kotak Mahindra

• Credit Suisse maintained a 'Neutral' rating but hiked the price target to Rs 950 from Rs 827
• Macquarie retained its 'Neutral' stance with the price target of Rs 940

• NIIT Technologies: Credit Suisse maintained an 'Outperform' rating on the stock with the price target raised to Rs 640 from Rs 550
• DB Corp: CLSA maintained 'Buy' with the price target of Rs 450
• Bajaj Auto: Macquarie maintained an 'Underperform' rating on the stock with price target of Rs 2,400

Wipro

• Morgan Stanley retained an 'Underweight' rating, however hiked the price target to Rs 240 from Rs 215
• CLSA retained an 'Outperform' rating with the price target hiked to Rs 310 from Rs 290
• Credit Suisse maintained its 'Neutral' stance, but marginally hiked the price target to Rs 250 from Rs 230

Media Reports

• IDBI Bank: To sell its entire 5 percent stake in CCIL. (Mint)
• Zee Media Enterprises: The company is in advanced talks to buy BTVi. (Economic Times)
• Britannia Industries: Takes Kerala distributors to Court. (Economic Times)
• Bajaj Auto: Likely to join KTM in the race to buy bike-maker Ducati. (Economic Times)
• Jet Airways: Cuts pay for some of its pilots. (Economic Times)
• Jaypee Infratech: It has time till August 4 to respond to insolvency plea. (Business Standard)
• Coal India: Gets stay on two CCI orders. (Business Standard)
• InterGlobe Aviation: The company is said to pick banks for institutional share sale. (Business Standard)
• ICICI Bank: Offers up to Rs 15 lakh instant personal loans via ATMs. (Financial Express)
• HDFC: To raise Rs 35,000 crore through NCD’s. (Financial Express)
• Neyveli Lignite Corporation: Talks fail to end strike by the State-owned company's workers. (Economic Times)
• ABG Shipyard: Agrees to insolvency proceedings. (Mint)