Stocks To Watch: ACC, HDFC Bank, Max Financial Services, Vedanta

The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India, gained 0.15 percent to 9,172.

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

Vedanta

• Company's smelter unit in Odisha has been affected due to outage earlier this week.
• Power plant in Punjab caught fire resulting in a shutdown for 60 days

• Reliance Industries: Commissioned Para-xylene (PX) phase 2. It is now the second largest producer of Para-xylene in the world
• State Bank of India: To redeem medium-term notes worth $400 million on May 15, 2017
• Kamdhenu: Approves allotment of three million warrants convertible into equity shares to the promoters. Will raise close to Rs 29 crore at current market price
• CG Power and Industrial Solutions: Birla Mutual Fund bought 0.9 percent stake in the company.
• Kamat Hotels: Clearwater Capital Partners (Cyprus) sold 17 percent stake in the last four trading sessions. It now has 3.7 percent stake remaining
• Radico Khaitan: Madhuri, wife of Madhusudan Kela, buys 7 lakh shares at Rs 117 per share
• Gammon India: NCLT approves the scheme of arrangement with Transrail Lighting Ltd.

Media Reports

• Wipro: Sacked almost 500 people after yearly review. (Business Standard)
• Hathway Cables: Plans to invest Rs 1,000 crore in 3 years. (Business Standard)
• Indian Hotels: Raised Rs 200 crore via NCDs. (Business Standard)
• Reliance Defence: Gets approval for exiting CDR and refinancing scheme. (Business Standard)
• Max Financial: Goldman Sachs to $123 million stake via block deal. (Financial Express)
• Future Consumer: To list its private labels on Amazon and Big Basket to achieve its aim of sales worth Rs 20,000 crore from its own brands by 2021. (Economic Times)
• NALCO: Retail OFS portion subscribed 3.17 times. (PTI)

Earnings Post Market Hours

Mindtree

• Net profit fell 5.7 percent to Rs 97.2 crore from Rs 103.1 crore sequentially
• Saw a loss of Rs 228 crore in foreign exchange compared to a profit of Rs 32 crore last quarter
• EBIT margin grew to 10.62 percent from 9.88 percent

Diamond Power Infra

• Q4 losses widen to Rs 317 crore from Rs 204 crore year-on-year
• Revenue fell 73 percent to Rs 196 crore from Rs 729 crore during the last year

Lloyd Steel Industries

• Saw a profit of Rs 1.5 crore during the January-March quarter
• Revenues drop 5.6 percent to Rs 37.05 crore from Rs 39.26 crore year-on-year

Brokerage Calls

• Hindustan Zinc: Cut to 'Underperform' at IDFC Securities
• IndusInd Bank: Cut to 'Accumulate' at Dolat Capital Markets
• ITD Cementation: Raised to 'Buy' at Emkay Shares
• Jyothy Labs: Cut to 'Hold' at Sharekhan
• Mindtree: Raised to 'Neutral' at Credit Suisse, Price Target of Rs 450
• Yes Bank: Cut to 'Reduce' at Asian Markets

Earnings To Watch Today

• HDFC Bank
• ACC
• Timplate Company of India
• Tata Metaliks
• FAD Bearings India