Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S. (Photographer: Michael Nagle/Bloomberg)

Stocks To Watch: Dr Reddy’s Labs, BEML, Alembic Pharmaceuticals, VRL Logistics, Strides Shasun

Subscribe to Bloomberg | Quint
The Daily Newsletter
News & Stock Alerts
Summary
  • Dr Reddy’s wins rulings over three patents for Suboxone drug
    Aditya Birla Capital will list on the stock exchanges after being demerged from Grasim- B Nuvo
  • Indian auto makers in focus ahead of the August sales report
  • Strides Shasun subsidiary Arrow Pharma acquires 100 percent stake in Amneal Pharma
  • Alembic Pharmaceuticals receives EU GMP certificate for its facility at Panelav
  • Merrill Lynch Singapore bought 2.64 lakh shares of BEML at Rs 1,763.52 each
  • Reliance MF buys 20 lakh shares of VRL Logistics from promoter Vijay Sankeshwar
  • B&K initiates coverage on Vakrangee with Buy and a target of Rs 600

The Singapore-traded SGX Nifty, an early indicator of Nifty 50 Index’s performance in India, fell 0.12 percent to 9,926.

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

  • Aditya Birla Capital: Will list on the stock exchanges after being demerged from Grasim-AB Nuvo
  • Grasim: Company in focus as it owns 57.3 percent stake in AB Capital
  • AB Money: In focus as AB Capital owns 75 percent stake in company
  • Justdial: Completes buyback of 9.5 lakh shares or 1.4 percent stake at Rs 390.44 each
  • ABB India: To install solar inverters at 750 railway stations in India
  • Strides Shasun: Subsidiary Arrow Pharma acquires 100 percent stake in Amneal Pharmaceuticals for 17 million Australian dollar
  • IRB Infrastructure Developers: Board approves sale of IRB Pathankot Amritsar Toll Road to IRB InvIT Fund for Rs 1,569 crore
  • Dhampur Sugar: Shareholders approve cap on commission paid to promoters to Rs 15 crore
  • Alembic Pharmaceuticals: Receives EU GMP certificate for its facility at Panelav
  • Shankara Building Products: Starts new processing facility in Secunderabad
  • Allahabad Bank: Revises overnight marginal cost of funds based lending rate to 7.5 percent from 8 percent
  • APL Apollo: To finalise the availment of technical know-how and assistance from Foreign Company through joint venture
  • LIC: Raises stake in NTPC from 11.15 percent to 14.24 percent

V-Guard

  • Acquired 7.82 lakh shares in Guts Electro-Mech Ltd.
  • Holding increases to 74 percent post the acquisition

Jindal Saw

  • Sold 47.65 lakh shares or 6 percent in Jindal ITF Ltd.
  • Holding reduces to 51 percent post sale.

Other Corporate Announcements

  • Rane Holdings: Board approves acquisition of 70 percent stake in Telematics4U Services Ltd for a consideration of Rs 1.17 crore
  • CCL Products: Received approval from Commissioner of Visakhapatnam SEX for setting up of coffee manufacturing unit
  • NMDC: Government appoints N Baijendra Kumar as CMD of NMDC
  • CIL: Government mulling to set up panel to select CIL chairman

Today’s Nifty Call

Bulk Deals

  • Aarvee Denims & Exports: Porinju Veliyath buys 1.81lakh shares or 0.8 percent stake at Rs 36 each
  • BEML: Merrill Lynch Singapore bought 2.64 lakh shares or 0.6 percent stake at Rs 1763.52 each
  • Nath Bio-Genes Ltd: Asset Reconstruction Company (India) sold 1 lakh shares or 0.6 percent stake at Rs 389.6 each
  • Career Point: Fidelity Far East Fund sold 1.09 lakh shares or 0.6 percent stake at Rs 120.1 each

Granules India

  • UBS Principal Capital Asia Ltd bought 12.25 lakh shares or 0.5 percent stake at Rs 128.13 each
  • Swiss Finance Corporation (Mauritius) sold 12.25 lakh shares or 0.5 percent stake at Rs 128.13 each

VRL Logistics

  • Reliance MF buys 20 lakh shares or 2.2 percent stake at Rs 339.99 each
  • Promoter Vijay Sankeshwar sold 20 lakh shares or 2.2 percent stake at Rs 340 each

Gravita India

  • SBI Small and Midcap Fund bought 7.9 lakh shares or 1.2 percent stake at Rs 114.11 each
  • LTS Investment Fund sold 12.94 lakh shares or 1.9 percent stake at Rs 114.04 each

Pressman Advertising Ltd.

  • Promoters Pressman Realty sold 5.8 lakh shares or 2.5 percent stake at Rs 64 each
  • Promoter Pressman Properties sold 6.60 lakh shares or 2.8 percent stake at Rs 62.56 each
  • Pradeep Kumar Saraf bought 11.60 lakh shares or 4.9 percent stake at Rs 63 each

Sarla Performance Fibres

  • Promoter Satidham Industries bought 14 lakh shares or 1.7 percent stake at Rs 46.99 each
  • Hindustan Cotton Co sold 14 lakh shares or 1.7 percent stake at Rs 46.98 each

F&O Setup

  • Nifty Rollover at 58 percent versus 72 percent (average of last 3 series)
  • Nifty August futures expire at 9918, Nifty down 1 percent in August series
  • Nifty Sep Futures trading at a premium of 19 points from 28 points
  • September series highest Call base at 10,000 (open interest at 28 lakh)
  • September series highest Put base at 9,700 (open interest at 38 lakh)
  • Call strikes 9900, 10000, 10100, 10,200 see open interest addition
  • Put strikes 9700 & 9900 see max open interest addition

Active Stock Futures

  • Hindustan Zinc sees open interest addition of 46 percent on long side
  • Just Dial sees open interest addition of 46 percent on long side
  • Arvind sees open interest addition of 29 percent on long side
  • Cholamandalam Fin sees open interest addition of 27 percent on short side
  • Equitas sees open interest addition of 23 percent on long side
  • DCB Bank sees open interest addition of 20 percent on short side
  • M&M sees open interest addition of 19 percent on short side

F&O Ban

JSW Energy

Earnings Reaction to Watch

Kridhan Infra (Q1, YoY)

  • Revenue up 28 percent to Rs 185.3 crore
  • EBITDA unchanged at Rs 25 crore
  • Margin contracted to 13.5 percent from 17.4 percent
  • Profit down 7.8 percent to Rs 10.7 crore from Rs 11.6 crore

Rane Holdings (Q1, YoY)

  • Revenue flat at Rs 536 crore
  • EBITDA down 2.2 percent to Rs 49 crore
  • Margin narrowed to 10 percent from 10.2 percent
  • Profit up 120 percent to Rs 33 crore
  • Exceptional gain of Rs 15.65 crore in Q1FY18

Brokerage Radar

  • Grasim: JPMorgan maintained an ‘Overweight’ rating with price target of Rs 1,250
  • Vakrangee: B&K initiated coverage on the stock with a ‘Buy’ rating and price target of Rs 600
  • Crompton Greaves Consumer: Credit Suisse retained its ‘Outperform’ rating with price target of Rs 270
  • TCS: Nomura maintained a ‘Reduce’ on the stock with price target of Rs 2,180
  • Balkrishna Industries: IIFL reiterated a ‘Buy’ rating on the stock with price target of Rs 1,800
  • Inox Wind: HSBC upgraded the stock rating to ‘Buy’ from ‘Hold’ and cut price target to Rs 166 from Rs 206
  • Suzlon Energy: HSBC maintained its ‘Buy’ on the stock and cut price target to Rs 22 from Rs 26
BloombergQuint
Stay Updated With Stock Market News on BloombergQuint
Subscribe to Bloomberg | Quint
The Daily Newsletter
News & Stock Alerts