Stocks To Watch: Biocon, Fortis Healthcare, IDFC Bank, Sun Pharma

The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India, dropped 0.2 percent to 9,656.

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

IDFC Group, Shriram Group

• Groups enter into 90-day exclusive merger talks
• No transaction has been finalised yet
• Shriram Transport Finance to de-list post merger
• Shriram City Union will be absorbed into bank
• Shriram Transport will remain as a standalone NBFC
• Shriram Transport will become a wholly-owned subsidiary of IDFC

Sun Pharma

• Enters into settlements with certain plaintiffs regarding the Modafinil Antitrust Litigation
• Matter currently pending in U.S. district courts in the district of Eastern Pennsylvania
• Settlements extend to all claims brought by Apcotex Corp

Tata Motors (YoY)

• June sales for Jaguar Land Rover up 11 percent to 51,591 units
• Jaguar sales up 16.4 percent to 15,343 units
• Land Rover sales up 8.9 percent to 36,248 units

• Lupin: Annual report says Gavis Pharma’s networth still negative, may improve in the future
• Biocon: Three key products fail inspection of French Health Authority
• Bharat Financial Inclusion: Aditya Birla Capital in the fray to acquire the company
• Sagar Cements: Cement sales in June rise 39 percent to 2,46,629 million tonne year-on-year
• Monnet Ispat and Energy: IDFC Bank invoked shares of Monnet Power pledged by the company
• Fortis Healthcare: FII investment limit hiked to 74 percent

Other Corporate Announcements

• Bannari Amman Spinning Mills: Completes investment in its joint venture company Young Brand Apparel Pvt. Ltd., increasing its stake to 51.33 percent
• Shipping Corporation of India: Took delivery of a second hand multi-purpose vessel of 3,719 deadweight tonnage capacity
• JM Financial: AMC unit completes buyback of 9.95 percent of its outstanding equity capital
• Capital First: Shareholders approve raising of funds through issue of securities
• Unitech: Manish Lakhi bought 1.69 crore shares or 0.65 percent stake at Rs 7.22 each
• Satin Creditcare: To issue 12.3 lakh optionally convertible redeemable preference shares
• Patel Integrated Logistics: To invest around Rs 80 crore to set up 10 warehouses together measuring over 1 million square feet in key traffic regions
• Kaveri Seed Company: Buyback window from July 10-21
• Mahindra Holiday & Resort: Ex-date for 1:2 bonus
• Mindtree: Ex-date for buyback eligibility

Saregama

• Reliance Corporate Advisory Services sold 4.06 lakh shares or 2.3 percent stake at Rs 281.92 each
• Alpna Enterprises bought 1.16 lakh shares for 0.67 percent stake at Rs 276.9 each

Today’s Nifty Call

F&O Setup

• Nifty futures end trade at 9,667.5, a premium of 1.7 points on Friday
• Nifty futures add 1.13 lakh shares in open interest
• Nifty Bank futures add 31,000 shares in open interest
• Put-call ratio (PCR) declines to 1.29 from 1.3

Active Stock Futures

• Lupin: Sheds 6 percent in open interest reflecting a short covering
• Reliance Industries: Adds 12 percent in open interest with fresh long positions
• Ambuja Cement: Saw highest change in open interest, a drop of 14 percent with fresh short positions
• TVS Motor: Open interest up 13 percent with fresh long positions
• Oriental Bank of Commerce: Open interest up 9 percent reflecting fresh short positions
• HDIL: Open interest drops 6 percent with long unwinding

Stocks In F&O Ban

• Housing Development & Infrastructure
• IndiaBulls Real Estate
• Jaiprakash Associates
• JSW Energy
• Ujjivan Financial Services

Brokerage Calls

• Shriram Transport Finance: JPMorgan maintains 'Underweight' with price target of Rs 750
• NTPC: CLSA upgrades to 'Buy' from 'Outperform' and hikes price target to Rs 186 from Rs 176
• Fortis Healthcare: ICICI Securities upgrades to 'Buy' from 'Add' but cuts price target to Rs 198 from Rs 208
• Shriram City Union: Credit Suisse maintains 'Outperform' with price target hiked to Rs 3,200 from Rs 2,600
• Shriram Transport Finance: Credit Suisse maintains 'Outperform' with price target hiked to Rs 1,350 from Rs 1,220

Media Reports

• GATI: Keen to acquire Vulcan from Snapdeal along with Peepul, TVS Logistics. (Economic Times)
• Sugar Stocks: India likely to raise sugar import duty to 50 percent to protect domestic mills. (Bloomberg)
• Reliance Communications: Presents long-term plan to lenders to reduce debt. (Economic Times)
• Reliance Industries: Pulls out of oil block in Peru. (PTI)
• GSK Pharma: To invest Rs 1,000 crore in Karnataka plant. (PTI)
• Indian Oil: Sees Dhamra terminal, allied projects drawing major investments into East India. (Mint)
• Mahindra Holidays: Plans to add 600 rooms in 2-3 years. (Business Standard)
• Bajaj Electricals: Exploring opportunities in the IoT space. (PTI)
• United Bank of India: To consider tier-2 bond issue worth Rs 500 crore on July 12. (Bloomberg)
• Alok Industries: Says SBI's application in NCLT to be heard on July 12. (Bloomberg)
• Cadila Healthcare: Gets U.S. FDA approval for two drugs. (Bloomberg)