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Stocks To Watch: Biocon, ITDC, Kotak Mahindra Bank

SGX Nifty points to a flat start to the May series



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)
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)

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