Stocks To Watch: ICICI Bank, ONGC, L&T, Tata Metaliks, Bharat Financial

Indian equity benchmarks ended little changed on Friday as gains in ONGC, Sun Pharma and Tata Motors were offset by losses in Yes Bank, Bharti Airtel and Reliance Industries.

The S&P BSE Sensex was little changed at 33,157 and the NSE Nifty 50 Index fell 0.2 percent to 10,323.

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, rose 0.18 percent to 10,389 as of 7:45 a.m.

Here Are the Stocks To Watch In Today’s Session

• M&M Financial: To consider fundraising proposal on November 1
• Sunteck Realty: Closes QIP; sets Issue Price at Rs 322 apiece
• Quess Corp: To acquire 46 percent stake in Heptagon Technologies
• Kridhan Infra: To acquire 36.60 percent stake in Vijay Nirman Company
• Cadila Health gets U.S. FDA approval for generic of Tazoxifen Citrate Tablets
• IDFC Bank, Shriram set to call off merger talks (Economic Times)
• SBI asks Odisha Govt to take equity in Bhushan Steel (Business Standard)
• Tata Sons to invest Rs 30,000 crore more in Tata Teleservices (Business Standard)
• L&T to invest Rs 500 crore in missile integrated facility (Business Line)
• InterGlobe Aviation: Said flying all Airbus A320neos as Pratt fixes engine issues
• ITC: Says legal cigarette industry volumes under severe pressure

Trading Changes

• BSEL Infra circuit filter revised to 10 percent
• L&T Tech, GNA Axles, ICICI Prudential, HPL Electric, Endurance Technologies dropped from S&P BSE IPO Index
• Atlas Cycles ex-date for stock split from Rs 10 to Rs 5 each
• Bharati Defence, Servalakhsmi Paper, Sharon Bio and Shilpi Cable last trading day before being shifted to ‘Z’ group
• Infosys last 2 trading sessions to determine buyback eligibility

IPO Watch

• Reliance Nippon Life Asset Management IPO closes. Final subscription subscribed 81.45 times.

F&O Setup

• Nifty November futures closed at 10,356.8, premium of 33.8 points versus 16.7 points
• November contracts- Nifty open interest up 3 percent, Bank Nifty open interest down 1 percent
• India volatility index closed at 11.47, down 1.2 percent
• Maximum open interest for November series at 10,500 call, open interest at 31.6 lakh shares, up 17 percent
• Max OI for November series at 10,000 put option, OI at 46.4 lakh shares, up 5 percent

F&O Ban

• Indiabulls Real Estate
• JSW Energy

Active Stock Futures

Bulk Deals

Sinclair Hotels

• MCCS Investment Holding sold 77,257 shares or 1.4 percent stake at Rs 319.85 each

Ashapura Minechem

• Fizza S Lakdawala sold 8 lakh shares or 0.9 percent stake at Rs 52.43 each

Gammon Infrastructure

• Promoter Gammon Power sold 1.25 crore shares or 1.3 percent stake at Rs 2.86 each
• Frontier Realty bought 1.19 crore shares or 1.3 percent stake at Rs 2.86 each

Earnings Reaction To Watch

ONGC Q2 (QoQ)

• Revenue down 0.6 percent at Rs 18,965 crore
• Net profit up 32 percent at Rs 5131 crore
• EBITDA up 3.5 percent at Rs 9,136 crore
• Margin at 48.2 percent versus 46.3 percent
• Other income up 126 percent at Rs 1,931 crore

Bharat Financial Q2 (YoY)

• Net interest income up 13 percent at Rs 261 crore
• Net profit down 19 percent at Rs 119 crore
• Provision of Rs 50 crore versus Rs 9 crore last year (Rs 176 crore last quarter)
• Gross NPA at 5.2 percent versus 6 percent (QoQ)
• Net NPA at 0.3 percent versus 1 percent (QoQ)

Jubilant Life Sciences Q2 (YoY)

• Revenue up 19 percent at Rs 1,642 crore
• Net profit down 13 percent at Rs 125.5 crore
• EBITDA down 10 percent at Rs 306 crore
• Margin at 18.6 percent versus 24.6 percent

Ramkrishma Forgings Q2 (YoY)

• Revenue up 113 percent at Rs 333 crore
• Net profit at Rs 23.5 crore versus loss of Rs 5 crore
• EBITDA up 124 percent at Rs 65 crore
• Margin at 19.5 percent versus 18.6 percent

HOEC Q2 (YoY)

• Revenue from operations up 126 percent to Rs 8.4 crore
• EBITDA up 5 times to Rs 7.2 crore
• EBITDA margin at 85.7 percent versus 38 percent
• Net profit up 90 percent to Rs 5.6 crore
• Depreciation up 2 times to Rs 3.7 crore

Bhageria Industries Q2 (YoY)

• Revenue up 4 percent at Rs 88.8 crore
• Net profit down 44 percent at Rs 9.2 crore
• EBITDA down 3.4 percent at Rs 19.9 crore
• Margin at 22.4 percent versus 24.1 percent

Adani Transmission Q2 (YoY)

• Revenue up 9 percent at Rs 746 crore
• Net profit down 33 percent at Rs 66.7 crore
• EBITDA down 6 percent at Rs 446 crore
• Margins at 59.8 percent versus 69.4 percent

Seshasayee Paper Q2 (YoY)

• Revenue down 13 percent at Rs 227 crore
• Net profit down 15 percent at Rs 26.2 crore
• EBITDA down 3 percent at Rs 47.5 crore
• Margin at 20.9 percent versus 18.9 percent

Aro Granite Q2 (YoY)

• Revenue down 21 percent at Rs 50.5 crore
• Net profit down 90 percent at Rs 0.34 crore
• EBITDA up down 63 percent at Rs 3 crore
• Margin at 5.9 percent versus 12.8 percent

Linde India (Q2, YoY)

• Revenue up 8.8 percent to Rs 507 crore
• Net profit at Rs 10 crore versus net loss of Rs 4 crore last year
• EBITDA up 12 percent to Rs 84 crore
• Margin expanded to 16.56 percent from 16.09 percent

Tata Metaliks (Q2, YoY)

• Revenue up 39.3 percent to Rs 450 crore
• Net profit up 52.5 percent to Rs 33.55 crore
• EBITDA up 47.25 percent to Rs 67 crore
• Margin at 14.88 percent versus 14.08 percent

Navin Fluorine (Q2, YoY)

• Revenues up 19.8 percent to Rs 218 crore
• Net profit up 13.1 percent to Rs 43 crore
• EBITDA up 29.3 percent to Rs 53 crore
• Margin at 24.3 percent from 22.5 percent

Sundaram Finance (Q2, YoY)

• Net interest income up 20 percent to Rs 341 crore
• Net profit up 25.3 percent to Rs 159.9 crore

ICICI Bank (Q2, YoY)

• Net interest income up 8.7 percent to Rs 5,709 crore
• Net profit down 33.7 percent to Rs 2058 crore
• GNPA at 7.87 percent from 7.99 percent (QoQ)
• NPA at 4.43 percent from 4.86 percent (QoQ)
• Provisions at Rs 4,503 crore from Rs 2,608 crore (QoQ)

Canara Bank (Q2, YoY)

• NII up 14 percent to Rs 2,783.4 crore
• Net profit down 27.2 percent to Rs 260 crore
• Gross NPA at 10.51 percent versus 10.56 percent (QoQ)
• Net NPA at 7.02 percent versus 7.09 percent (QoQ)
• Provisions at Rs 1,950 crore versus Rs 2,270 crore (QoQ)

Au Small Finance Bank (Q2, YoY)

• Net profit down 3 percent to Rs 68.24 crore
• NII up 12.2 percent to Rs 219.4 crore
• Gross NPAs at 3.08 percent versus 2.98 percent (QoQ)
• Net NPA at 2.09 percent versus 2.15 percent (QoQ)
• Provision at Rs 41 crore versus Rs 29 crore (QoQ)

Munjal Showa (Q2, YoY)

• Revenue up 6.7 percent to Rs 415.3 crore
• Net profit up 5.3 percent to Rs 20 crore
• EBITDA up 0.3 percent to Rs 31.2 crore
• Margin at 7.5 percent versus 7.99 percent

Jubilant Industries (Q2, YoY)

• Revenue down 8 percent to Rs 123.3 crore
• Net profit halved to Rs 2.5 crore
• EBITDA up 8 percent to Rs 13.4 crore
• Margin at 10.86 percent versus 9.2 percent

Sun Pharma Advanced Research Company (Q2, YoY)

• Revenue down 84.2 percent to Rs 15 crore
• Net loss of Rs 62.6 crore versus Net profit of Rs 15 crore
• EBITDA at Rs (62 crore) versus Rs 13.4 crore
• Margin down (413) percent from 14.1 percent

Ineos Styrolution India (Q2, YoY)

• Revenue up 22.9 percent to Rs 483 crore
• Net profit down 10.5 percent to Rs 17 crore
• EBITDA down 2.9 percent to Rs 33.5 crore
• Margin narrowed to 6.9 percent from 8.8 percent

Nifty Results Today

• Bharti Infratel
• HDFC
• Lupin
• Tata Steel
• UPL

Other Results Today

• Bharat Electronics
• Central Bank of India
• IDFC
• Kajaria Ceramics
• LIC Housing Finance
• Mahindra Lifespace Developers
• Marico
• Reliance Home Finance
• Sintex Industries
• Welspun Corp
• Wockhardt
• Century Plyboards

Brokerage Radar

• Nomura on Reliance Power: Upgraded to Neutral from Reduce; cut price target to Rs 42 from Rs 45.
• IDFC Securities on ONGC: Maintain Outperform; hiked price target to Rs 230 from Rs 215.
• TTK Prestige raised to Hold at Anand Rathi Securities
• United Spirits raised to Outperform at IDFC Securities
• Mphasis cut to Hold at Antique Stock Broking, price target Rs 710
• LIC Housing Finance cut to Reduce at IIFL, price target Rs 530

ICICI Bank

• Kotak Securities: Maintain Buy; Hiked price target to Rs 385 from Rs 370.
• UBS: Maintain Buy: hiked price target to Rs 400 from Rs 380.
• IDFC Securities: Maintains Outperformer; hiked price target to Rs 345 from Rs 315.

Indian Oil Corporation

• BoFA-ML: Maintain Neutral; hiked price target to Rs 442 from Rs 428.
• Nomura: Maintain Buy with price target of Rs 495.

ITC

• Axis Capital: Maintain Buy; cut price target to Rs 320 from Rs 330.
• Kotak Securities: Maintain Add; cut price target to Rs 310 from Rs 340.
• Credit Suisse: Maintain Neutral and price target of Rs 310.

PVR

• BoFA-ML: Maintain Buy; hiked price target to Rs 1,592 from Rs 1,557.
• IDFC Securities: Maintain Outperformer; cut price target to Rs 1,491 from Rs 1,542.

Maruti Suzuki

• Credit Suisse: Maintain Neutral; hiked price target to Rs 7,300 from Rs 6,800.
• Macquarie: Maintain Outperform; hiked price target to Rs 10,000 from Rs 8,250.
• Nomura: Maintains Buy; hiked price target to Rs 9,843 from Rs 8,993.