Stocks To Watch: Asian Paints, Glenmark, Reliance Infra, Torrent Pharma

The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India, was little changed at 9,432

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

TVS Motor Company

• Strengthens its presence in Central America
• Announces an alliance with Mayor Servicios Socieda Anonima (MASESA), a company based in Guatemala
• The company is a leader in the commercialization of motorcycles and Tuk Tuks in the Central American Region
• MASESA will develop exclusive concessionaries for TVS in Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica

Vardhman Textiles

• Company's yarn sales grew 3 percent to 53,374 metric tons
• Grey fabric sasles slipped 2.6 percent to 453 lakh meters
• Processed fabric sales rose 12 percent to 328 lakh meters

• Kotak Mahindra Bank: QIP opened on May 11, 2017. Will consider issue price on May 16, 2017
• Delta Corp: Approves QIP at 5 percent discount to floor price of Rs 162.78 per share
• Vakrangee: Allied with Indian Railway Catering and Tourism Corporation Ltd. for offering railway e-tickets booking through Vakrangee Kendras
• Yes Bank: Seeks shareholder approval to allow Board of Directors to borrow as much as Rs 70,000 crore and raise funds up to Rs 20,000 crore
• Adlabs: Nylim Jacob Ballas India buys 4.6 lakh shares at Rs 87.35 each
• RPP Infra Projects: New Leania Investments sells 1.5 lakh shares at Rs 280.17 each
• Reliance Infrastructure: Subsidiary Delhi Metro Express Pvt. Ltd. wins Rs 2,950 crore arbital award against the Delhi Metro Rail Corporation Ltd.

Brokerage Calls

• Axis Bank: Cut to 'Hold' at Choice Equity with a price target of Rs 560
• Capital First: Raised to 'Buy' at Sharekhan with price target of Rs 880
• Dabur India: Raised to 'Buy' at Nomura with price target of Rs 320
• Godrej Consumer: Cut to 'Neutral' at Nomura with price target of Rs 1,870
• Hero MotoCorp: Raised to 'Outperform' at IDFC Securities
• Marico: Cut to 'Reduce' at Nomura with price target of Rs 275

Source: Bloomberg

Havells India

• Cut to 'Neutral' at Credit Suisse with price target of Rs 550
• Cut to 'Sell' at Batlivala and Karani with price target of Rs 421

Source: Bloomberg

Today’s Nifty Quote

Today’s Rupee Call

Media Reports

• Infosys: Defers pay hikes till July; Senior executives to wait longer. (Economic Times)
• CRISIL: To lay off 150 workers in the SME division. (Economic Times)
• HUL, Nestle: In talks to pick up a stake in Havmor Ice Cream. (Mint)
• Tata Group: Spent Rs 18,026 crore on innovations in 2015-16. (Mint)
• SBI: To allow ATM withdrawals via electronic wallet. (Business Standard)
• United Bank of India: Looks to raise up to Rs 1,000 crore. (Business Standard)
• Torrent Pharma: Gets form 483 after U.S. FDA inspects facility. (Bloomberg)
• Max India: To buy 3.75 percent stake in Max Healthcare for Rs 212 crore. (Bloomberg)

Earnings Reaction To Watch

Asian Paints (Q4, YoY)

• Net profit up 10.1 percent to Rs 479.6 crore
• Revenue up 8.9 percent to Rs 4,416 crore
• EBITDA up 2.2 percent to Rs 712 crore
• Announces final dividend of Rs 10.3 for FY17

Nilkamal (Q4, YoY)

• Net profit down 1.5 percent to Rs 32.2 crore
• Revenue up 6.4 percent to Rs 568.7 crore
• EBITDA down 11.7 percent to Rs 58.5 crore
• EBITDA Margins at 10.3 percent from 12.4 percent

Igarashi Motors (Q4, YoY)

• Net profit down 3.8 percent to Rs 17.9 crore
• Revenue up 1.4 percent at Rs 128.4 crore
• EBITDA down 11 percent at Rs 28.4 crore
• EBITDA Margins contract to 22.1 percent from 25.2 percent

Glenmark Pharmaceuticals (Q4, YoY)

• Net profit up 23.5 percent to Rs 183.8 crore
• Revenue up 6.5 percent to Rs 2,457.2 crore
• EBITDA up 46 percent at Rs 443.9 crore
• EBITDA Margin expands to 18 percent from 13.2 percent

Earnings To Watch Today

Dr. Reddy's Laboratories Q4FY17 (Bloomberg Estimates, YoY)

• Revenue may decline 1.9 percent to Rs 3,683 crore
• Net profit seen higher by 462 percent at Rs 419 crore

Base quarter had a provision on an outstanding receivable from Venezuela

Titan Q4FY17 (Bloomberg Estimates, YoY)

• Revenue seen rising 32 percent to Rs 3,218 crore
• Net profit seen 19.4 percent higher to Rs 219.8 crore
• EBITDA seen at Rs 323.70 crore

Also Read: Earnings Today: Dr Reddy’s May See Profit Surge In January-March Quarter

Other Key Earnings

• Aditya Birla Fashion and Retail
• Dr. Lal Pathlabs
• Inox Wind
• NDTV
• Oriental Bank of Commerce
• Piramal Enterprises
• PNB Housing Finance
• Quick Heal Technologies
• UCO Bank
• Varun Beverages