Stocks To Watch: Bharat Dynamics, Cipla, Hero MotoCorp, Indraprastha Gas, Shalimar Paints
- Hero MotoCorp increases stake in its Colombia joint venture to 68 percent from 51 percent.
- M&M & Ford signs MoUs to co-develop mid-size and compact SUV, EV and connected car solutions.
- Infosys invests an additional $1.5 million in Waterline Data Science.
- Cipla receives tentative nod for Darunavir 800MG from U.S. FDA (Bloomberg)
- Balesh Sharma to be CEO of Idea-Vodafone merged entity.
Asian stocks followed their U.S. counterparts lower after President Donald Trump’s decision to slap tariffs on China heightened concern a trade war could hurt global growth.
The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell below 10,000-mark
Here Are The Stocks To Watch Out For In Friday’s Trade
- Anjani Portland Cement to set up an additional clinker producing unit for Rs 400 crore.
- Future Market sold Ahmedabad city mall for Rs 16.54 crore.
- Schaeffler India said shareholders and creditors vote for merger of INA India, LuK India with self.
- Hero Motocorp increased stake in Colombia joint venture to 68 percent from 51 percent.
- L&T Technology Services won multi-million-dollar order from German plastic maker Covestro.
- JSW Energy secured order from Punjab State Power Corp for supply of 200 megawatt power.
- 20 Microns subsidiary filed DRHP for IPO.
- REC board approved Rs 60000 crore market borrowing plan for FY19.
- United Spirits to consider stock split on April 13.
- Infosys invested an additional $1.5 million in Waterline Data Science.
- SQS India said German subsidiary completed winding process; awaits tax refund pending with German authorities.
- Shalimar Paints to raise Rs 49.73 crore via rights issue. Board approved issue of 35.52 lakh shares at a price of Rs 140 each.
- Alankit Ltd. sold 49 percent stake in subsidiary Alankit Technologies for Rs 1.07 crore. Also, subsidiary Alankit Life Care received FFMC (Full Fledged Money Changer) License from RBI.
- Mahindra and Ford signed MoUs to co-develop midsize and Compact SUV, EV and connected car solutions.
- Indraprastha Gas: An incentive of Rs 1 lakh will be given to industries to switch over to piped natural gas, according to a proposal in the Delhi budget.
- Cipla received Tentative nod for Darunavir 800MG: FDA (Bloomberg).
- India amended Foreign Trade Policy to provide IGST exemption (Bloomberg).
- Balesh Sharma to be CEO of Idea-Vodafone merged entity.
- Nifty March Futures closed trading at 10,127.8 premium of 13 points versus 24.9 points.
- March series-Nifty open interest unchanged, Bank Nifty open interest up 7 percent.
- India VIX ended at 15.2, up 1 percent.
- Max open interest for March series at 10,500 call strike, open interest at 62.8 lakh, open interest up 3 percent.
- Max open interest for March series at 10,000 Put, open interest at 58.8 lakh, open interest up 2 percent.
- In ban: HDIL, IDBI Bank, IFCI, Jet Airways, Jindal Steel, JP Associates, Reliance Communications
- New in ban: Jet Airways
- Out of ban: SAIL
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
- Ashapura Intimates: Promoter Harshad Thakkar bought 3 lakh shares or 1.2 percent equity at Rs 450 each.
- Jubilant Foodworks: William Blair & Co. LLC bought 3.77 lakh shares or 0.6 percent equity at Rs 2260.5 each.
- Shaily Engineering Plastics: HDFC MF bought 50,000 shares or 0.6 percent equity at Rs 1140 each.
- Jindal Drilling: Jindal Drilling & Industries Limited Employees Welfare Trust sold 2.20 lakh shares or 0.8 percent equity at Rs 164.43 each.
- MEMG Family Office bought 10 lakh shares or 0.7 percent equity at Rs 1023 each.
- Ramdas Pai sold 10 lakh shares or 0.7 percent equity at Rs 1023 each.
HSBC on Bharti Airtel
- Maintained ‘Buy’ with a price target of Rs 590.
- Revenue pressure may continue in the current quarter.
- Focused on adding quality subscribers.
- Remain positive; Expect Bharti gaining market share over the next 12 months.
- Long term market structure improvement to drive sector revenues.
- Several steps being taken to improve balance sheet.
IDFC Securities on Dish TV
- Maintained ‘Outperform’ with a price target of Rs 125.
- Videocon D2H has been merged with and into Dish TV.
- Benefits of merger to be visible incrementally from April.
- Distribution businesses has tremendous economies of scale.
- Expect the merger to yield both revenue and cost synergies.
- Expect 19 percent market share with comfortable net debt-to-ebitda.
JP Morgan on Phoenix Mills
- Maintained ‘Overweight’; raised price target to Rs 710 from Rs 605.
- Double rental growth combined with residential business to boost earnings.
- Expect operating income and net profit to compound at 12 percent and 35 percent respectively over two years.
- Phoenix should generate positive free cash flow from April.
- Funds can be used for additional growth and increase dividend payouts.
- Phoenix remains best proxy plays on retail growth in India.
Macquarie on ICICI Bank
- Maintained ‘Outperform’ with a price target of Rs 425.
- ICICI Securities IPO to bring in around Rs 35-40 billion gains.
- Monetisation and value unlocking continues.
- IPO gains could add roughly about 60 basis points to the CET1 of 13.7 percent of ICICI.
- ICICI Securities IPO priced at expensive multiples.
- Broking business is high cash generating and asset-light; Leads to high dividend payouts.
Kotak Securities on SH Kelkar
- Upgraded to ‘Buy’ from ‘Add’; maintained price target at Rs 325.
- Rating upgrade post the recent sharp correction.
- Raw material disruption impact likely to be temporary.
- RM inflation to get passed on to the customers with lag.
- RM situation could to remain challenging for the current and next quarter.
Nomura on Max Financial Services
- Maintained ‘Buy’ with a price target of Rs 605; implying a potential upside of 39 percent from the last regular trade.
- Most bad news in the price.
- Incremental risk reward better.
- Believe stock underperformance is nearing end.
- Stock trading down on the back of distribution, regulatory and M&A risks.
Nomura on NBCC India
- Upgraded to ‘Buy’ from ‘Neutral’; raised price target to Rs 258 from Rs 250.
- Management meeting boosts confidence.
- Execution hindrances now over.
- Catalysts visible as contract awards and monetisation pick up.
- Recent stock correction provides an entry point.
BoFA ML on Vedanta
- Initiated ‘Buy’ with a price target of Rs 380.
- Business mix is favorable with most coming from zinc.
- Zinc is preferred metal with strong pricing outlook.
- High visibility on growth with projects in advanced stages.
- Outlook for aluminium, oil and gas improving/stabilizing.
- Expect Ebitda to compound at 21 percent over the fiscal 2017-2019.
- Deleveraging to continue with FCF yield of 15 percent and 17 percent respectively over the next two fiscals.