Stocks To Watch: Bank Of Baroda, HDFC, IndusInd Bank, Ramco Cements

Asian stocks rallied, following gains in U.S. equities and the dollar, as concern eased on President Donald Trump’s proposed tariffs.

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, rose 0.6 percent to 10,423 as of 7:10 a.m.

Yesterday, Indian equity benchmarks slipped to a near two-week low reopening after a local holiday Friday as investors weighed the potential impact of America’s plans to impose stiff tariffs on steel and aluminium imports.

Here Are The Stocks To Watch Out For In Tuesday’s Trade

• Bank of Baroda leaves MCLR unchanged for March.
• RBI imposes Rs 3 crore penalty on Axis Bank and Rs 2 crore penalty on Indian Overseas Bank for non-compliance of NPA classification norms.
• SBI Hong Kong confirms it has no exposure in PNB LoU case.
• HDFC QIP closes today. It has issued 1.03 crore equity shares at Rs 1,825 per share.
• Ramco Cements to acquire clinker grinding unit from Ramco Industries for Rs 17 crore.
• IndusInd Bank invokes 4.3 percent Jaypee Infra stake pledged by Jaiprakash Associates.
• Global Offshore defaults on unsecured demand loan from Axis Bank. The principal amount of Rs 11.26 crore plus interest is outstanding.
• Somany Ceramics board approves plan to merge three units of promoter group with itself.
• Arman Financial to raise Rs 50 crore through issue of 16.66 lakh CCDs at Rs 300 each to Saif Partners India.
• JSW Energy acquires JSW Electric Vehicles.
• Wanbury says U.S. FDA completes inspection of API facility with five observations.

F&O Setup

• Nifty March futures closed trading at 10,365.6, premium of 7.6 points versus discount of 1.4 points
• All series: Nifty open interest up 3 percent, Bank Nifty open interest unchanged
• India VIX ended at 15.3, up 9.4 percent
• Max open interest for March series at 10,700 call strike (Open interest at 53.2 lakh, up 22 percent)
• Max open interest for March series at 10,400 Put (Open interest at 35.4 lakh, down 4 percent)

F&O Ban

• In ban: Fortis Healthcare, HDIL, IDBI, Oriental Bank
• No new stocks in or out of ban

Only intraday positions can be taken in stocks which are in F&O ban. There is a penalty in case of rollover of these intraday positions.

Active Stock Futures

Bulk Deals

• Fortis Healthcare: BNP Paribas Arbitrage bought 37.5 lakh shares or 0.7 percent equity at Rs 155.28 each.
• Punjab Alkalies & Chemicals: IDBI Bank sold 3.12 lakh shares or 1.2 percent equity at Rs 27.9 each.

BSE

• IDFC Imperial Equity Fund bought 6.54 lakh shares or 1.2 percent equity at Rs 799.99 each.
• IDFC Sterling Equity Fund bought 4 lakh shares or 0.7 percent equity at Rs 799.99 each.
• Nomura Asset Management sold 13.89 lakh shares or 2.6 percent equity at Rs 799.99 each.

Brokerage Radar

HSBC on Godrej Properties

• Maintained ‘Buy’; raised price target to Rs 825 from Rs 750.
• Portfolio additions remain strong.
• Sales momentum doubles over previous year.
• Project additions much faster than sales.
• Room for significant sales growth still remains.

JP Morgan on BEL

• Initiated ‘Overweight’ with price target of Rs 185.
• BEL’s growth supported by growing capital outlay on defense, focus on import substitution and modernization.
• Sizable nondefense & export opportunity to augment future growth.
• Order backlog of Rs 40,500 crore is 3.8 times trailing one-year sales.
• Valuation highly correlated with order inflows.
• Two big-ticket orders of Rs 6,000 crore each are close to award.
• Expect revenue, operating income and net profit to compound at 13 percent, 15 percent and 17 percent respectively over the fiscal 2018-2020.
• Share buybacks to drive improvement in return on equity and cash yield.
• BEL has superior organic growth prospects, higher margin profile and scope for further return on equity expansion.

Credit Suisse on Sun Pharma

• Maintained ‘Outperform’ with price target of Rs 640.
• Halol observations not very serious.
• Clearance may not require a re-inspection.
• Still take 4-6 months for clearance of warning letter.
• Of the three, two observations are procedural in nature.
• Cut earnings per share for the next two fiscals by 8 percent and 2 percent respectively to factor Halol clearance by September.

Media Reports

• Ola Investors are said to eye $200 million secondary share sale (Times of India).
• WestBridge & Prudential vie with ICICI Lombard for Star Health (Times of India).