Stocks To Watch: Vedanta, Glenmark Pharma, Hindalco Industries, UCO Bank

Indian equity benchmarks paused after closing at record highs in the previous session. The S&P BSE Sensex was little changed at 33,573 and the NSE Nifty 50 Index fell 0.16 percent to 10,424.

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.20 percent to 10,465 as of 7:00 a.m.

Stocks To Watch

• Hindalco’s subsidiary Novelis reported better than expected results.
• Dr. Reddy’s launched Azacitidine injection in the Canadian market.
• Lupin launched antibiotic gacticlate Tablets, which has a market size of $263 million in U.S.
• Bharat Road Network takes balance stake in Guruvayoor Infrastructure for Rs 97 crore.
• AU Small Finance Bank gets RBI nod for Scheduled Commercial Bank.
• Himadri Speciality Chemical approved capacity expansion of 30,000 MTPA for manufacturing carbon black.
• VST Tillers said overall tractors sales in October increased 14.4 percent to 2,577 units.
• Bharat Forge: North America Class 8 truck sales for October at 35,700 versus 13,674 last year (up 161 percent YoY and up 62 percent QoQ).

Circuit Revisions

• 8K Miles’ circuit filter was revised to 10 percent
• Alok Industries’ circuit filter was revised to 5 percent

IPO Watch

• Mahindra Logistics Limited IPO subscribed 7.8 times at end of day 3.
• New India Assurance IPO continues on day 3. The issue was subscribed 1.07 times at end of day 2.
• Khadim India IPO continues on day 2. The issue has been subscribed 0.14 times till now.

F&O Setup

• Nifty November futures closed at 10455 with a premium of 31 points Vs 36.8pts
• November contracts: Nifty open interest up 4 percent, Bank Nifty open interest down 2 percent
• India VIX closed fell 1 percent at 12
• Max open interest for November series shifts at 10,500 Call (open interest at 32.3 lakhs, down 5 percent)
• Max open interest for November series at 10,000 Put (open interest at 53.3 lakh, up 2 percent)

F&O Ban

• HDIL
• Indiabulls Real Estate
• JSW Energy
• Wockhardt

Active Stock Futures

Bulk Deals

• A2Z Infra Engineering: IL&FS Financial Services sold 22.50 lakh shares or 1.5 percent stake at Rs 38.22 each
• JB Chemicals & Pharmaceuticals: Ashish Dhawan sold 4.72 lakh shares or 0.6 percent stake at Rs 289.54 each
• Sri Adhikari Bros: State Bank of India sold 2.91 lakh shares or 0.8 percent stake at Rs 31.12 each

Vishal Fabrics:

• Asia Investment Corporation Mauritius bought 2.63 lakh shares or 1.2 percent stake at Rs 245 each
• Devkinandan Corporation LLP sold 2.63 lakh shares or 1.2 percent stake at Rs 245 each

Earnings Reactions To Watch

Glenmark (Q2, YoY)

• Revenue up 1.4 percent at Rs 2256 crore
• Net profit down 7.0 percent at Rs 204 crore
• EBITDA down 13.6 percent at Rs 389 crore
• Margin at 17.2 percent versus 20.2 percent

Ujjivan Financial (Q2, YoY)

• Net Interest Income down 12.5 percent at Rs 164.6 crore
• Net loss of Rs 11.95 crore versus loss of Rs 75 crore (QoQ)
• Net loss of Rs 11.95 crore versus profit of Rs 73 crore
• Gross NPA at 4.99 percent versus 6.16 percent (QoQ)
• Net NPA at 1.38 percent versus 2.30 percent (QoQ)

Hathway Cables & Datacom (Q2, YoY)

• Revenue down 60 percent at Rs 131.15 crore
• Net Profit at Rs 14.01 crore versus Net Loss of Rs 40.44 crore
• EBITDA down 1.2 percent at Rs 52.7 crore
• Margin at 40.2 percent versus 16.6 percent

Note: Company demerged its Cable TV businessinto a wholly owned subsidiary called Hathway Digital in Q1. Base numbers include both cable & broadband numbers.

Deepak Fertilizer (Q2, YoY)

• Revenues up 34 percent at Rs 1231.5 crore
• Net profit up 70 percent at Rs 46 crore
• EBITDA up 56.5 percent at Rs 144 crore
• Margins at 11.7 percent versus 10.0 percent

GE T&D (Q2, YoY)

• Revenues up 4.2 percent at Rs 870 crore
• Net profit up 131.7 percent at Rs 47.5 crore
• EBITDA up 130 percent at Rs 80.5 crore
• Margins at 9.3 percent versus 4.2 percent

Transport Corp (Q2, YoY)

• Revenues up 15.55 percent at Rs 520 crore
• Net profit up 29 percent at Rs 25.5 crore
• EBITDA up 15.11 percent at Rs 49.5 crore
• Margins at 9.5 percent versus 9.55 percent

HEG (Q2, YoY)

• Revenues up 111 percent at Rs 409.5 crore
• Net profit of Rs 114 crore versus Net loss of Rs 14 crore
• EBITDA up 924 percent at Rs 189.5 crore
• Margins at 46.3 percent versus 9.5 percent

Jay Bharat Maruti (Q2, YoY)

• Revenues up 20.7 percent at Rs 438 crore
• Net profit up 24.8 percent at Rs 16.6 crore
• EBITDA up 22.35 percent at Rs 41.6 crore
• Margins at 9.5 percent versus 9.4 percent

KSB Pumps (Q2, YoY)

• Revenues up 24.5 percent at Rs 200.5 crore
• Net profit up 33.33 percent at Rs 11.6 crore
• EBITDA up 48 percent at Rs 21.6 crore
• Margins at 10.77 percent versus 9.06 percent

Himadri Speciality Chemicals (Q2, YoY)

• Revenues up 37.2 percent at Rs 468 crore
• Net profit up 168.4 percent at Rs 51 crore
• EBITDA up 83.9 percent at Rs 103 crore
• Margins at 22.00 percent versus 16.4 percent

Power Grid (Q2, YoY)

• Revenues up 16 percent at Rs 7253 crore
• Net profit up 14.36 percent at Rs 2141 crore
• EBITDA up 15.5 percent at Rs 6475 crore
• Margins at 89.3 percent versus 89.6 percent

Vedanta (Q2, YoY)

• Revenues up 36 percent at Rs 21,590 crore
• Net profit up 46.8 percent at Rs 2,091 crore
• EBITDA up 21.3 percent at Rs 5,669 crore
• Margins at 26 percent versus 29 percent

Berger Paints (Q2, YoY)

• Revenues up 12 percent at Rs 1282 crore
• Net profit down 20 percent at Rs 111 crore
• EBITDA up 12.35 percent at Rs 200 crore
• Margins at 15.6 percent versus 15.5 percent

Andhra Bank (Q2, YoY)

• Net Interest Income grew 10.4 percent to Rs 1,501 crore
• Net Loss of Rs 385 crore versus profit of Rs 51.4 crore
• Gross NPA at 13.27 percent versus 13.33 percent (QoQ)
• Net NPA at 7.55 percent versus 8.09 percent (QoQ)

Accelya Kale (Q2, YoY)

• Revenues up 5 percent at Rs 98 crore
• Net profit down 16 percent at Rs 23 crore
• EBITDA unchanged at Rs 39 crore
• Margins at 39.8 percent versus 41.9 percent

Shriram City Union Finance (Q2, YoY)

• Net Interest Income up 18.7 percent at Rs 872.5 crore
• Net profit down 3 percent at Rs 198 crore
• Gross NPA at 6.91 percent versus 6.76 percent (QoQ)
• Net NPA at 1.83 percent versus 1.77 percent

HCC (Q2, YoY)

• Revenues up 6.6 percent at Rs 971 crore
• Net profit down 50 percent at Rs 11.6 crore
• EBITDA down 23 percent at Rs 150 crore
• Margins at 15.4 percent versus 21.4 percent

Dalmia Bharat Sugar and Industries (Q2, YoY)

• Revenues up 22.6 percent at Rs 521 crore
• Net profit down 26 percent at Rs 37 crore
• EBITDA down 22.6 percent at Rs 65 crore
• Margins at 12.5 percent versus 19.76 percent

Akzo Nobel (Q2, YoY)

• Revenues up 2.7 percent at Rs 704.5 crore
• Net profit down 7 percent at Rs 39 crore
• EBITDA down 6 percent at Rs 63.6 crore
• Margins at 9.0 percent versus 9.9 percent

Nifty Results Today

Hindalco Industries

Other Results Today

• BSE
• Edelweiss Financial
• Godrej Agrovet
• Godrej Properties
• PNB
• Power Finance Corporation
• Sheela Foam
• SCI
• Sical Logistics
• Siti Networks
• Tata Power
• Titan
• Torrent Pharmaceuticals
• UCO Bank
• Union Bank Of India
• Vrl Logistics
• Zensar Technologies

Brokerage Radar

• CRISIL: Elara initiated ‘Accumulate’ with a price target of Rs 2,083; Potential Upside of 16 percent from yesterday’s close.
• CARE Ratings: Elara initiated ‘Accumulate’ with price target of Rs 1,712; Potential Upside of 14 percent from yesterday’s close.
• ICRA: Elara initiated ‘Sell’ with a price target of Rs 3,526; Potential Downside of 10 percent from yesterday’s close.
• Ramco Cements: CLSA maintained ‘Sell’; hiked price target to Rs 645 from Rs 625.
• Power Grid Corporation: Deutsche Bank maintained ‘Hold’ with price target of Rs 220.

Vedanta

• CLSA maintained ‘Buy’; Hiked price target to Rs 405 from Rs 380.
• Morgan Stanley maintained ‘Overweight’ with price target of Rs 391
• Macquarie maintained ‘Outperform’; Hiked price target to Rs 372 from Rs 345.

Hindalco (Novelis)

• UBS maintained ‘Neutral’ with price target of Rs 240.
• Macquarie maintained ‘Outperform’; hiked price target to Rs 330 from Rs 280.

Media Reports

• Adani in talks with Chinese Firm for Carmichael project financing (Mint).
• ONGC Scouts For Assets Elsewhere (Financial Express).
• Tech Mahindra takes back petition against Reliance Communications (Financial Express).
• Max Life keen to step up deposit in Lakshmi Vilas Bank; to increase stake in bank to 10 percent (Economic Times).
• Assam Company India to face bankruptcy proceedings (Economic Times).
• CIL exploration arm asked to find out best assets (Economic Times).