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Stocks To Watch: Biocon, Ceat, M&M, Tata Global, Ujjivan Financial Services

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Summary
  • Biocon gets Form 483 with 10 observations from U.S. FDA for Bengaluru plant
  • Cognizant third quarter results trails analyst estimates
  • Infosys to acquire London-based Brilliant Basics
  • Tata Global to sell Russian business to Skodnya Grand
  • BPCL increases commission offered to dealers up to 50 percent

The Singapore-traded SGX Nifty, an early indicator of Nifty 50’s performance in India was little changed at 10,034.

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

  • Biocon: Gets Form 483 with 10 observations from U.S. FDA for Bangalore plant
  • Cognizant: Third quarter results trails analyst estimates
  • Infosys: To acquire London-based Brilliant Basics for £7.5 million. The transaction is likely to be completed by the second half of FY18
  • Tata Global Beverages: To sell Russian business to Skodnya Grand
  • JBF Industries: Board to discuss the sale or restructuring of its overseas subsidiaries on August 10
  • M&M: To sell 96.6 lakh shares in Mahindra Logistics via IPO
  • Reliance Communication: NCLT to pronounce order on case on August 10
  • Bharat Petroleum: Increases commission offered to dealers up to 50 percent

Other Corporate Announcements

  • Tata Chemicals: Cancels deal to acquire Unnati Inorganics Pvt. Ltd’s precipitated silica operations on a slump sale basis for a consideration of Rs 34.20 crore
  • Electrosteel Casting: To invest Rs 61.64 crore on ARC Furnace at its Haldia unit

Today’s Nifty Call

Bulk Deals

  • Goodyear: Goldman Sachs India Fund bought 2.41 lakh shares or 1 percent stake at Rs 907.49 each
  • Genesys International: Oikos India sold its entire holding of 7 lakh shares or 2.28 percent at Rs 231 per share

Infibeam Incorporation

  • LTS Investment Fund sold 3.63 lakh shares or 0.7 percent stake at Rs 1,412.93 each.
  • According to June 2017 filing, LTS Investment Fund’s holding in the co. stood at 1.42 percent

F&O Setup

  • Nifty futures premium moves to 29 points from 19 points
  • Bank Nifty sheds 2.4 lakh shares, open interest down 9 percent
  • Nifty range for August series in terms of open interest concentration between 10,000-10,500
  • Maximum open interest on put side at 10,000 strike with open interest at 46.2 lakh shares
  • Maximum open interest on call side at 10,500 strike with open interest at 41 lakh shares
  • Call strikes of 10,100, 10,200, 10,300 and 10,500 see open interest addition
  • 10,000 Put sheds 4 percent in open interest

Active Stock Futures

  • Infibeam sees open interest addition of 31 percent on long side
  • Bharti Infratel sees open interest addition of 23 percent on long side
  • Fortis Healthcare sees open interest addition of 21 percent on long side
  • Cummins India sees open interest addition of 13 percent on short side
  • JSPL sees open interest addition of 11 percent on short side
  • Lupin sees open interest addition of 11 percent on short side

Stocks In F&O Ban

  • India Cement
  • Jaiprakash Associates
  • JSW Energy
  • Kaveri Seeds
  • Wockhardt

Earnings Reactions To Watch

Majesco (Q1, YoY)

  • Net loss widens to Rs 5 crore from Rs 1.35 crore
  • Revenue down 17.2 percent at Rs 183 crore

Ujjivan Financial Services (Q1, YoY)

  • Revenue down 2.7 percent at Rs 323 crore
  • Net loss of Rs 75 crore from net profit of Rs 19.35 crore
  • Net Interest Income at Rs 138.22 crore, a decrease of 19.66 percent

Bombay Burmah (Q1, YoY)

  • Revenue down 20 percent at Rs 54 crore
  • EBITDA up 161 percent at Rs 3.65 crore
  • EBITDA margin expanded to 7 percent from 2.1 percent
  • Net loss of Rs 1.7 crore

CEAT (Q1, YoY)

  • Revenue down 1 percent at Rs 1,629 crore
  • EBITDA down 70 percent at Rs 56 crore
  • EBITDA margin contracted to 3.8 percent from 12.6 percent
  • Profit down 99 percent at Rs 1.4 crore

PNB Housing Finance (Q1, YoY)

  • Revenue up 38 percent at Rs 1,192 crore
  • Profit up 93 percent at Rs 185 crore
  • Provisions down 28.4 percent at Rs 48 crore (QoQ)
  • Gross NPA at 0.43 percent (QoQ)
  • Net NPA at 0.33 percent (QoQ)

Enkei Wheels (Q1, YoY)

  • Net profit down 37.8 percent at Rs 2.3 crore
  • Revenue up 12.8 percent at Rs 125 crore
  • EBITDA up 75.8 percent at Rs 11 crore
  • EBITDA Margin at 9.8 percent

JK Lakshmi Cement (Q1, YoY)

  • Net profit down 1 percent at Rs 28.3 crore
  • Revenue up 15 percent at Rs 1,003 crore
  • EBITDA up 2.4 percent at Rs 115 crore
  • EBITDA Margin at 12.7 percent

Kokuyo Camlin (Q1, YoY)

  • Revenue down 13 percent at Rs 170.5 crore
  • EBITDA down 86 percent at Rs 1.5 crore
  • EBITDA margin contracted to 1 percent from 6 percent
  • Net loss of Rs 1.25 crore from net profit of Rs 4.7 crore

Ramco Systems (Q1, YoY)

  • Revenue up 0.3 percent at Rs 110 crore
  • EBITDA down 34.5 percent at Rs 9.1 crore
  • EBITDA margin contracted to 8.3 percent from 12.7 percent
  • Net loss of Rs 3 crore from net profit of Rs 8 crore

Brokerage Radar

Titan

  • Goldman Sachs maintained a 'Buy' on the stock and raised price target to Rs 600 from Rs 552
  • IDFC Securities upgraded their rating to 'Neutral' from 'Underperform' with price target of Rs 559
  • JPMorgan retained an 'Overweight' on the stock and hiked price target to Rs 620 from Rs 540

Colgate

  • IDFC Securities maintained and 'Underperform' rating with price target Rs 958
  • Morgan Stanley retained its 'Underweight' rating with Rs 830 as the price target
  • UBS reiterated its 'Buy' rating on the stock with price target Rs 1,250
  • Ramco Cement: Deutsche Bank maintained 'Buy' with Rs 790 as the price target

Media Reports

  • Infosys: Turns down co-founder NR Narayana Murthy's plea to make probe report public. (TOI)
  • Tech Mahindra: Senior executives take 10-20 percent salary cut. (TOI)
  • Videocon: SBI-led banks order forensic audit of Videocon’s accounts. (Economic Times)
  • HDIL: NCLT admits insolvency plea against HDIL arm. (Economic Times)
  • Piramal Enterprises: Buys office space from group company. (Economic Times)
  • Reliance Communications: Bharti Infratel & Indus object to RCom-Aircel merger. (Economic Times)
  • Syngene: Bets on its new research facility to ramp up biologics play. (Economic Times)
  • BPCL: To venture into gas business, says CMD. (PTI)
  • JSW Steel: In discussion with Piramal Enterprises to jointly bid for assets going through insolvency process. (Business Standard)
  • Oberoi Realty: Shelves plans to float mall joint venture. (Business Standard)
  • Hindustan Copper: Government sells 6.83 percent stake in the company, garners Rs 400 crore. (Mint)
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