Employees work inside the India International Exchange (INDIA INX) operated by India International Clearing Corp., a subsidiary of BSE Ltd., in Gujarat International Finance Tec-City (GIFT City), Gujarat, India. (Photographer: Dhiraj Singh/Bloomberg)

Stocks To Watch: Biocon, ITDC, Kotak Mahindra Bank

The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India, was little changed at 9,358.

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

Kotak Mahindra Bank

  • To buy out entire 26 percent stake in joint venture Kotak Mahindra Old Mutual Life Insurance Ltd.
  • Stake to be bought for Rs 1,292.7 crore from Old Mutual Plc.
  • Kotak Mahindra Bank currently holds 74 percent stake in the company
  • Net worth of Kotak Life stands at Rs 1,825 crore as of March 31, 2017
  • Kotak Life is being valued at Rs 4,972 crore
  • Deal is subject to regulatory approval

Indian Tourism Development Corporation

  • To transfer stake in joint venture subsidiary companies
  • To transfer 51 percent equity stake in MP Ashok Hotel Corporation Ltd. to the Madhya Pradesh State Tourism Development Corporation
  • To transfer 51 percent equity stake in Assam Ashok Hotel Corporation Ltd. to the Government of Assam
  • To transfer Hotel Bharatpur Ashok to Government of Rajasthan

Hatsun Agro Products

  • Board of directors approve raising funds up to Rs 500 crore through QIP subject to shareholder approval
  • Company would issue 80.83 lakh equity shares at current market price.
  • Public shareholding to increase to 29.1 percent from 25.29 percent earlier.

DCB Bank

  • Raised Rs 379 crore through QIP
  • Issued 2.177 crore equity shares at Rs 174 each
  • Public shareholding increased to 85 percent from 83.81 percent
  • Indraprastha Gas: Proposes to increased FII limit to 30 percent subject to shareholder approval
  • Jindal Steel and Power: To raise Rs 600 crore via private placement of debentures subject to shareholder approval
  • Ashok Leyland: Receives approval from National Company Law Tribunal for amalgamation of Hinduja Foundries with itself
  • India Glycols: Begins commercial operations of its freight terminal at Kashipur in Uttarakhand
  • NRB Bearings: Gets shareholder nod to issue debentures worth Rs 100 crore
  • Jubilant LifeSciences: Says no plans to list the company's pharma business on Singapore exchange
  • Capital First: Acquired 8 percent equity share capital and 2 percent share warrants of Sienna for Rs 4.25 crore
  • Prism Cement: Receives Letter of Intent from government of Madhya Pradesh for mining lease of 50 years in Satna district
  • Vascon: Board approves issue of debentures worth Rs 110 crore
  • Sun TV: Launches a 24 hour Malayalam comedy channel

Bulk Deals

Sasken Technologies

  • Promoter Naman Mody buys 2.59 lakh shares at Rs 424.9 per share
  • Promoter Sakhee R Mody buys 2.41 lakh shares at Rs 424.54 per share
  • Promoter Ansuya Mody Enterprises LLP sells 1.34 lakh shares at Rs 425 per share
  • JB Mody Enterprises Llp sells 1.1 lakh shares at Rs 426.9 per share

Indocount Industries

  • Royal Bank of Scotland Plc as trustee of Jupiter India Fund buys 19.96 lakh shares at Rs 199.96 per share
  • Lazard Emerging Markets Small Cap Equity Trust Sells 19.24 lakh shares at Rs 200 per share
  • Adani Enterprises: Cresta Fund Ltd. sells 74.08 lakh shares at Rs 121.27 per share
  • Delta Corp: Swiss Finance Corporation (Mauritius) Ltd. sells 12 lakh shares at Rs 167.86 per share

Earnings Reaction To Watch

Biocon

  • Q4 net profit down 62 percent at Rs 127.5 crore compared to Rs 333 crore last year
  • Revenues down 3 percent at Rs 931.1 crore against Rs 956.7 crore year-on-year
  • Board recommends offering two free shares for every share held
  • Recommendation of a final dividend of Rs 3 per share also made

Reliance Capital

  • Q4 net profit down 23 percent at Rs 443 crore compared to Rs 578 crore
  • Revenue up 79 percent at Rs 5,033 crore compared to Rs 2,807 crore
  • Announces dividend of Rs 10.5 per share

Indiabulls Real Estate

  • Q4 net profit down 4 percent at Rs 601.8 crore compared to Rs 625.1 crore
  • Revenues down 38 percent at Rs 437 crore compared to Rs 709 crore
  • Lower revenue and higher tax outgo impact profits

Kokuyo Camlin

  • Q4 net profit up 21 percent at Rs 2.86 crore compared to Rs 2.36 crore
  • Revenue up 9 percent to Rs 193.02 crore compared to Rs 177.14 crore
  • EBITDA up 6 percent to Rs 9.1 crore compared to Rs 8.57 crore
  • Receives building completion certificate for its Patalganga plant. Operations to commence from April 28

Earnings To Watch

Ceat Q4 Estimates (YoY)

  • Revenues seen up 6.2 percent at Rs 1,540 crore vs Rs 1,391 crore
  • EBITDA seen down 17.1 percent at Rs 154 crore vs Rs 185.8 crore
  • EBITDA margins seen at 10 percent vs 12.8 percent
  • Net Profit seen down 24% at Rs 79 crore vs Rs 103.9 crore

Factors To Watch For CEAT

  • Realizations which are likely subdued owing to decline in supplies to trucks and buses
  • Impact of volatility in commodity costs on raw materials, margins
  • Expected pick up in supplies to the oil & gas segment
  • Update on capital expenditure

Ambuja Cement Q1 Estimates (YoY)

  • Net Sales seen up 4 percent at Rs 2,511.40 crore compared 2,418.30 crore
  • Volume Growth seen flat at 5.9 Million Tonnes
  • Realization seen up 3.84 percent at Rs 4256.6 per tonne compared to Rs 4098.8 per tonne
  • EBITDA per Tonne seen down 9.49 percent at Rs 690 per Tonne against Rs 762.4 per Tonne
  • Net Profit seen down by 16.35 percent at Rs 254.10 crore compared to Rs 303.76 crore
  • Volume growth will be watched given that volume growth of ACC and Ultratech has surprised on the upside

UPL Q4 Estimates (YoY)

  • Revenues seen up 12.8 percent at Rs 4,897 crore against Rs 4,340 crore
  • EBITDA seen up 15.6 percent at Rs 1,135 crore against Rs 982 crore
  • EBITDA margins seen at 23.2 precent against 22.6 percent
  • Net Profit seen up 20.5 percent at Rs 665 crore against Rs 552 crore

Factors To Watch

  • Updates on headway in Brazil after macro-economic induced weakness
  • Feedback and commentary on farmer’s capacity to by crop protection assuming normal monsoons
  • Consolidating presence in India, increasing presence in rest of the world
  • Product launches in the horizon
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