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Stocks To Watch: ABB, Bharti Airtel, Idea Cellular, Royal Orchid Hotels, Yes Bank
The Singapore-traded SGX Nifty dropped 0.23 percent to 10,044 as of 7:05 a.m.
Telecom stocks in focus as TRAI cuts IUC charges to 6 paise per minute from 14 paise currentlyAnti-dumping duty on import of certain type of bus, truck tyres from China for 5 yearsYes Bank: Last day of trade before stock split from Rs 10 to Rs 2ABB India: Axis Capital upgrades stock to ‘Buy’, with a target of Rs 1,750 per share
- Telecom stocks in focus as TRAI cuts IUC charges to 6 paise per minute from 14 paise currently
- Anti-dumping duty on import of certain type of bus, truck tyres from China for 5 years
- Yes Bank: Last day of trade before stock split from Rs 10 to Rs 2
- ABB India: Axis Capital upgrades stock to ‘Buy’, with a target of Rs 1,750 per share
The Singapore-traded SGX Nifty, an early indicator of Nifty 50 Index’s performance in India, dropped 0.23 percent to 10,044 as of 7:05 a.m.
Here are the stocks to watch out for in today’s session:
- Telecom stocks in focus as the telecom regulator cut interconnect charges to 6 paise from 14 paise currently. Termination charges will be zero from 2020.
- Hindustan Copper signs memorandum of understanding with Nalco and Mineral Exploration Corp to form a joint venture for exploration and sale of minerals
- Shreyas Shipping to acquire a container vessel of about 1500 TEUs. Delivery expected by Mid-October
- Edelweiss increased holding to 92.20 percent in ECL Finance
- Shilpi Cables says BDR Builders and Developers acquired 18.47 percent stake in the company
- Gujarat Apollo bought back 9.98 lakh shares from May 4 to September 19 for a total amount of Rs 17.86 crore
Other Corporate Announcements
- Entertainment Network: Commenced broadcast from its radio stations in Jammu
- India Infoline Finance: To consider fund raising on September 25
- Yes Bank: Last day of trade before stock split from Rs 10 to Rs 2
- Graphite India and Jai Corp: Circuit filter revised to 10 percent
- Autolite (India): Circuit filter revised to 5 percent
- Lasa Supergenerics, Dishman Carbogen Amcis and Provestment Services to be listed on September 21
IPO Watch
- Dixon Technologies and Bharat Road Network added to BSE IPO Index
- ICICI Lombard General Insurance IPO subscribed 2.9 times at close
- SBI Life Insurance IPO opens today; issue price Rs 685-700 per share
SBI Life has one of the lowest operating expense ratio, making it the most efficient among peers.https://t.co/Q65G3oEznb pic.twitter.com/GrNLUyL8JJ
— BloombergQuint (@BloombergQuint) September 19, 2017
F&O Setup
- Nifty September Futures closed with a premium of 21 pts from 22 points
- September Nifty Futures open interest unchanged, Bank Nifty open interest down 3 percent
- India VIX closed higher by 0.2 percent at 11.46
- September series highest Call base at 10200 (open interest at 55.8 lakh, up 4 percent )
- September series highest Put base at 10,000 (open interest at 59.6 lakh, open interest down 4 percent)
- Call strikes 10,150, 10,200 see open interest addition
- Put strikes 10,050, 10,100 see open interest addition
Active Stock Futures
- Kajaria Ceramics sees open interest addition of 32 percent on long side
- Tata Chemicals sees open interest addition of 22 percent on long side
- Indigo sees open interest addition of 20 percent on short side
- PEL sees open interest addition of 14 percent on short side
- BEML sees open interest addition of 14 percent on long side
- GAIL sees open interest addition of 11 percent on long side
- Granules sees open interest addition of 11 percent on short side
- Andhra Bank see open interest addition of 7 percent on long side
Stocks In F&O Ban
- Bharat Earth Movers
- DHFL
- HDIL
- Indiabulls Real Estate
- Infibeam
- JP Associates
- JSW Energy
- Just Dial
Kamat Hotels
- KIFS Enterprise bought 5 lakh shares or 2.1 percent stake at Rs 96.39 each
Religare Industries
- IndusInd Bank sold 9.21 lakh shares or 0.5 percent stake at Rs 45.35 each
ADF Foods
- Promoter Mishal Ashok Thakkar sold 18 lakh shares or 8.5 percent stake at Rs 233.52 each
- Mentor Capital bought 9 lakh shares or 4.2 percent stake at Rs 227 each
- Alpana Sanjay Dangi bought 8.51 lakh shares or 4 percent stake at Rs 240.06 each
Royal Orchid Hotels
- Ashish Kacholia sold 8.37 lakh shares or 3.1 percent stake at Rs 125.16 each
- Royal Bank of Scotland bought 9.28 lakh shares or 3.4 percent stake at Rs 126.43 each
Tata Chemicals
- Tata Sons bought 1.04 crore shares or 4.1 percent stake at Rs 642.55 each
- Tata Global Beverages sold 1.04 crore shares or 4.1 percent stake at Rs 642.55 each
Tata Global Beverages
- Tata Sons bought 4.31 crore shares or 7.1 percent stake at Rs 213.35 each
- Tata Chemicals sold 4.31 crore shares or 7.1 percent stake at Rs 213.35 each
Tata Motors
- Tata Sons bought 3.87 crore shares or 1.3 percent stake at Rs 421.44 each
Telecom experts rue TRAIâs ânail in the coffinâ move.https://t.co/QK7vzHLVHQ pic.twitter.com/dufE53OE3U
— BloombergQuint (@BloombergQuint) September 19, 2017
Media Reports
- Bharti Airtel plans to spend over Rs 32,000 crore in next two fiscals (Economic Times)
- Two Adani Power companies secure over 1/3rd of CIL coal (Economic Times)
- Unitech serious developer, not fly-by-night operator: Chairman (PTI)
- Infosys inks seven-year deal with CMA CGM Group (PTI)
- MMRDA shortlists ten for Mumbai Trans Harbour Link project – L&T, Tatas, HCC among bidders (ET)
- Adani Power big gainer in Shakti auction (Economic Times)
Brokerages On TRAI’s Interconnect Decision
CLSA
- Cut in Interconnect Usage Charges to impact Bharti Airtel’s and Idea Cellular’s EBITDA by 4 percent and 7 percent respectively
- IUC contributes 7-8 percent to Airtel’s consolidated EBITDA
- IUC contributes 11-13 percent to Idea’s consolidated EBITDA
- Relaince Communications’ EBITDA to be boosted by 3 percent from lower IUC
- Reliance Jio’s FY19 EBITDA estimates could rise by 20 percent
Motilal Oswal
- Bharti and Idea’s immediate EBITDA impact should be less than 5 percent
- Jio’s IUC per subscriber to reduce to Rs 40 from Rs 85; total savings of close to Rs 6,000-4,500 crore
- Jio’s reduction in free offers to taper competitive intensity by the end of FY18
Bank of America Merrill Lynch
- Net IUC contributes 10 percent and 15 percent of Bharti Airtel’s EBITDA and Idea Cellular’s EBITDA respectively.
- Expect Bharti Airtel’s consolidated EBITDA to be impacted by 2-5 percent till FY21 estimates
- Expect Idea’s consolidated EBITDA to be impacted by 4-13 percent till FY21 estimates
- Beyond FY21, expect Bharti, Idea’s EBITDA to go down by 6-15 percent
- TRAI’s move to bring IUC to zero post 2020 is likely a negative surprise
Goldman Sachs
- Bharti Airtel’s FY18-20 EBITDA estimates cut by 2-4 percent
- Idea Cellular’s FY18-20 EBITDA estimates cut by 6-10 percent
- Expect negative impact on Bharti’s annual cash flow by $150 million
- Expect Idea to generate $250 million of negative cash flow in FY18
- IUC to help Jio generate additional $200-450 million EBITDA during FY18-20
- Reliance Industries’ target price hiked to Rs 905 from Rs 875
Brokerage Radar
- CLSA On Reliance Industries: Maintains ‘Buy’; target price hiked to Rs 1,050 per share from Rs 990
- Citi On Havells: Maintains ‘Neutral’; hikes target price to Rs 525 from Rs 500
- Deutsche Bank Markets Research On Whirlpool India: Maintains ‘Hold’; hikes target price to Rs 1,120 form Rs 1,080
- Credit Suisse On Adani Ports & SEZ: Maintains ‘Outperform’, target price hiked to Rs 460 from Rs 360
- Credit Suisse On Larsen & Toubro: Remains ‘Outperform’ at Credit Suisse, target price hiked to Rs 1,425 from Rs 1,330
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