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

Stocks To Watch: Biocon, Jubilant FoodWorks, Yes Bank, ICICI Bank, IOC, ITC

Summary
  • Bajaj Auto said it is unaffected by the Karnataka High Court ban.
  • Bad loans at Yes Bank double as regulator detects under-reporting
    Biocon’s net profit fell 53 percent to 69 crore.
  • HDFC Life IPO price band fixed at Rs 275-290 per share; issue to open on November 7.

Indian equity benchmarks rose to fresh highs driven by gains in Maruti Suzuki, Axis Bank, Larsen & Toubro and Tata Steel.

The S&P BSE Sensex rose 0.32 percent to 33,147.13 and the NSE Nifty 50 Index advanced 0.47 percent to 10,343.80.

The Singapore-traded SGX Nifty, an early indicator of Nifty 50 Index’s performance in India, rose 0.19 percent to 10,394 as of 7:30 am.

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

  • Bajaj Auto: Says it’s unaffected by Karnataka High Court’s ban on pillion riding on two-wheelers
  • Majesco: Says U.S. arm of the company partners with social media marketing platform, Denim
  • Future Consumer: Allots 14.96 lakh shares to Black River Food 2 upon conversion of CCDs
  • NDTV: Income tax department attaches the entire 29.12 percent holding of promoter RRPR Holding

Other Corporate Announcement

Phoneix Mills: NCLT approves scheme of merger of two of its subsidiaries

IPO Watch

  • Reliance Nippon Life Asset Management day 3. Issue subscribed 7.4 times on second day.
  • HDFC Life IPO to open on November 7. Price band fixed at Rs 275-290 per share.

Circuit Revisions

  • Signet Industries & Rattan India Power circuit filter revised to 10 percent
  • GIC RE added to BSE IPO Index

F&O Setup

  • Nifty November futures trading at 10,360, premium of 16.7 points to spot
  • Nifty Rollover at 73 percent, Bank Nifty Rollover at 69 percent
  • Across Series Nifty open interest up 2 percent, Bank Nifty open interest down 2 percent
  • India VIX closed at 11.6, down 1.2 percent
  • Max open interest for November series at 10,500 Call (open interest at 27 lakh, up 52 percent)
  • Max open interest for November series at 10,000 Put (open interest at 44 lakh, up 36 percent)

F&O Ban

Indiabulls Real Estate Ltd.

Active Stock Futures

Bulk Deals

Star Cement

  • HSBC Global Investment Fund Mauritius bought 44.78 lakh shares or 1.1 percent stake at Rs 110 each
  • Sajjan Bhajanka sold 35 lakh shares or 0.8 percent stake at Rs 110.02 each
  • Apollo Tyres: BNP Paribas Arbitrage sold 34.45 lakh shares or 0.6 percent stake at Rs 238.5 each
  • Selan Exploration Technologies: Quest Portfolio Services bought 1.25 lakh shares or 0.8 percent stake at Rs 222.19 each
  • Sri Adhikari Brothers: Central Bank of India sold 4.5 lakh shares or 1.3 percent stake at Rs 37.37 each
  • Saregama: Girik Wealth (Charandeep Singh) buys 1.2 lakh shares or 0.7 percent stake at Rs 624 each

Earnings Reactions To Watch (Q2FY18)

Crompton Greaves (YoY)

  • Revenue up 9.8 percent at Rs 960 crore
  • Net profit up 24.56 percent at Rs 71 crore
  • EBITDA up 19.2 percent at Rs 121 crore from Rs 101.5 crore
  • Margin at 12.60 percent versus 11.61 percent

United Spirits (YoY)

  • Revenue down 3.67 percent at Rs 1,952 crore
  • Net profit up 85.5 percent at Rs 153 crore
  • EBITDA up 58 percent at Rs 319 crore
  • Margin at 16 percent versus 9.9 percent

Mphasis (QoQ)

  • Revenue up 4.5 percent at Rs 1,604 crore
  • Net profit up 5.9 percent at Rs 198 crore
  • EBIT up 9.3 percent at Rs 231 crore
  • Margin at 14.4 percent versus 13.8 percent

Indiabulls Ventures (YoY)

  • Revenue up 57.57 percent at Rs 156 crore
  • Net profit up 223.5 percent at Rs 55 crore
  • EBITDA up 75.5 percent at Rs 93 crore
  • Margin at 59.6 percent versus 53.5 percent

GIC Housing Finance (YoY)

  • Revenue up 10.9 percent at Rs 274 crore
  • Net profit up 23.5 percent at Rs 42 crore

Supreme Petrochem (YoY)

  • Revenue up 12.9 percent at Rs 707.5 crore
  • Net profit up 28. percent at Rs 36.7 crore
  • EBITDA up 23.5 percent at Rs 60.5 crore
  • Margin at 8.55 percent versus 7.8 percent

Yes Bank (YoY)

  • Net interest income up 33.5 percent at Rs 1,885.3 crore
  • Net profit up 25.1 percent at Rs 1,002.7 crore
  • Gross NPA at 1.82 percent from 0.97 percent (QoQ)
  • Net NPA at 1.04 percent from 0.39 percent (QoQ)
  • Provisions at Rs 447 crore from Rs 285.7 crore (QoQ)

Biocon (YoY)

  • Revenue up 2.4 percent at Rs 969 crore
  • Net profit down 53 percent at Rs 69 crore
  • EBITDA down 23.6 percent at Rs 183 crore
  • Margin at 18.9 percent versus 25.3 percent

Cummins India (YoY)

  • Revenue down 9.85 percent at Rs 1,153 crore
  • Net profit down 22.3 percent at Rs 153 crore
  • EBITDA down 16. percent at Rs 167 crore
  • Margins at 14.5 percent verss 15.5 percent

Equitas Holding (YoY)

  • Net Interest Income up 14 percent at Rs 230 crore
  • Net profit down 76 percent at Rs 11 crore

South Indian Paper Mills (YoY)

  • Revenue down 44.58 percent at Rs 26.6 crore
  • Net loss of Rs 1 crore
  • EBITDA down 82 percent at Rs 1.6 crore
  • Margin at 6 percent versus 18.75 percent

Emami Paper Mills (YoY)

  • Revenue up 3.11 percent at Rs 314.5 crore
  • Net profit down 97 percent at Rs 0.5 crore
  • EBITDA down 36 percent at Rs 26.5 crore
  • Margin at 8.4 percent from Rs 13.6 percent

Coromandel Engineering (YoY)

  • Revenue up 1.1 percent at Rs 9.07 crore
  • Net loss at Rs 2.8 crore
  • EBITDA at - Rs 1.17 crore from - Rs 0.28 crore
  • Margin at -12.9 percent versus -3 percent

Nelco (YoY)

  • Revenues down 0.6 percent at Rs 36.1 crore
  • Net profit down 98 percent at Rs 2.85 crore
  • EBITDA down 9 percent at Rs 4.45 crore
  • Margin at 12 percent versus 13.5 percent

Sharda Cropchem (YoY)

  • Revenue up 12.55 percent at Rs 278 crore
  • Net profit down 27 percent at Rs 24 crore
  • EBITDA down 2 percent at Rs 50 crore
  • Margin at 18 percent

Nifty Results Today

  • ICICI Bank
  • IOC
  • ITC
  • Maruti Suzuki India

Other Results Today

  • Aditya Birla Fashion And Retail
  • AU Small Finance Bank
  • Canara Bank
  • Heidelbergcement India
  • J&K Bank
  • Jubilant Industries
  • Kaveri Seed Company
  • Linde India
  • Munjal Showa
  • Navin Fluorine International
  • PVR
  • SPARC
  • Srikalahasthi Pipes
  • Sundaram Finance
  • Tata Metalik

Brokerage Radar

  • Edelweiss on V Guard Industries: Maintain Hold; hiked price target to Rs 175 from Rs 163
  • Credit Suisse on Crompton Greaves Consumer: Maintain Outperform; price target hiked to Rs 290 from Rs 270

Yes Bank

  • Credit Suisse: Maintain Neutral; Cut price target to Rs 321 from Rs 331
  • Macquarie: Downgrade to ‘Neutral’ from ‘Outperform’; price target remain unchanged at Rs 362
  • UBS: Maintain Sell with price target of Rs 160
  • Jefferies: Retain Hold, cut price target to Rs 300 from Rs 344
  • IDFC Securities: Downgraded from ‘Neutral’ to ‘Underperform’; cut price target to Rs 270 from Rs 309
  • JP Morgan: Retained Overweight, price target of Rs 400

United Spirits

  • UBS: Maintain Sell with price target of Rs 2,000
  • Macquarie: Maintain Underperform with price target of Rs 1,933
  • Morgan Stanley: Maintain Overweight with price target of Rs 2,900

Jubilant Foodworks

  • CLSA: Maintain Buy; hiked price target to Rs 2,200 from Rs 1,900
  • Credit Suisse: Maintain Outperform; hiked price target to Rs 2,000 from Rs 1,500
  • Edelweiss: Maintain Hold; hiked price target to Rs 1,842 from Rs 1,383
  • Morgan Stanley: Maintain Overweight; hiked price target to Rs 1,900 from Rs 1,780
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