Stocks To Watch: DCB Bank, Indian Hume Pipe, Reliance Infrastructure

The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India, was little changed at 9,156.

Also Read: Monday Morning Briefing: Geopolitical Worries Push Yen, Gold Higher

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

Indian Hume Pipe Company

• Secures work orders worth Rs 177.22 crore from Bengaluru Water Supply and Sewerage Board
• Order is for execution of the work of providing water supply facilities to 110 villages of Bruhat Bengaluru Mahanagar Palike
• Project has to be completed within 24 months from signing of the agreement with the board.

Gujarat Apollo Industries

• To buyback equity shares at a price not exceeding Rs 189 per equity share for an amount not exceeding Rs 24 crore
• Buyback shall be less than 10 percent of the total paid up equity capital and free reserves of the company as of March 31, 2016
• Minimum size of the buyback remains to the extent of Rs 12 crore

• Aban Offshore: Shema Renny Abraham, part of the promoter group entity, sold 25,000 equity shares for Rs 11.67 crore in the open market, representing 0.04 percent of the total equity capital of the company.
• Allahabad Bank: To raise Rs 418 crore via preferential allotment of equity shares to the Government of India.
• Berger Paints: Board approves scheme of amalgamation of BJN Paints India Ltd., a wholly-owned subsidiary of Bepee Coatings Pvt. Ltd. which is a wholly-owned subsidiary of Berger Paints with itself.
• Brady & Morris: Board approves sale of Ahmedabad land, building for Rs 6.5 crore.
• Capital First: Raised Rs 235 crore via issue of non-convertible debentures via private placements
• McNally Bharat Engineering: Allots 38 lakh equity shares worth Rs 25.08 crore to Sahal Business Pvt. Ltd.
• Balaji Telefilms: Launched a full cloud-based digital entertainment platform called 'ALT Balaji' which will be a wholly-owned subsidiary of the company
• Mold-Tek Technologies: Announces record date of April 28, 2017 for payment of its interim dividend.

Media Reports

• Jyothy Laboratories: Henkel keen to pick up 50 percent stake in the compamy. May get time till November to buy 26 percent stake. (Economic Times)
• Uttam Galva Steels: May file appeal in NCLAT and does not see any adverse impact from DF Deutsche Forfait's petition. (Economic Times)
• Idea: Plans to start payments bank operations by June. (Economic Times)
• MTNL: Chairman says merger with BSNL is ‘desirable’ (PTI)
• SAIL: No firm ready to manage divestment plan of units. (Economic Times)
• Grasim: Increases limit for investment in equity share capital by RFPIs and FIIs to 49 percent. (PTI)
• Ricoh India: Odisha government cancels Rs 344 crore contract awarded to company. (PTI)
• Premier Explosives: Approves raising of funds to the tune of Rs 80 crore. (Bloomberg)
• Yes Bank: To consider borrowing plan on April 19. (Bloomberg)
• Orient Paper Industries: To consider mid-year dividend. (Bloomberg)
• Cairn India: Shares to be suspended for trading from April 26. (Bloomberg)

Earnings Reaction To Watch

Bajaj Corp

• Net profit down 3 percent to Rs 52.67 crore from Rs 54.26 crore during the corresponding period last year
• Revenue fell 2 percent to Rs 204.21 crore from Rs 208.26 crore in the year-ago period
• EBITDA margins fell to 67.32 percent compared to 76.58 percent last year
• Declares a final dividend of Rs 11.50 per share for FY17

Reliance Power

• Net profit rose 250 percent to Rs 215.9 crore compared to Rs 61.55 crore in the fourth quarter last year
• EBITDA margins improved to 13 percent from 11 percent

Reliance Infrastructure

• Posted a net profit of Rs 40.9 crore compared to a net loss of Rs 327.4 crore in the corresponding quarter last year
• Consolidated revenue fell 14 percent to Rs 5,063.04 crore
• Total debt dropped 11 percent to Rs 38,015 crore
• Recommended a dividend of Rs 9 per share

DCB Bank

• Q4 profit at Rs 53 crore compared to Rs 70 crore last year
• Net Interest Income for the bank grew 31 percent to Rs 220 crore against Rs 169 crore last year
• Gross NPA at 1.59 percent against 1.55 percent sequentially
• Net NPA at 0.79 percent compared 0.74 percent quarter-on-quarter.