Employees walk through the atrium of the National Stock Exchange of India Ltd. (NSE) building in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

Stocks To Watch: Inox Wind, NMDC, Lemon Tree, Piramal Enterprises, Titan

  • NMDC keeps prices of lump ore and fines unchanged at Rs 3,000 per tonne and Rs 2,660 per tonne.
  • Century Plyboard unit writes off its entire investment in Indonesian subsidiary.
  • Piramal Enterprises receives NCLT approval for merger of Piramal Finance and Piramal Capital with Piramal Housing Finance.
  • RBI: FPI Investment limit in G-secs to be raised by 0.5 percent a year.

Stocks in Asia fluctuated and U.S. equity-index futures rebounded as trade worries remained a key market driver, keeping risk appetite in check.

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.4 percent at 10,296 as of 8:10 a.m.

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

  • Titan said that 2017-2018 was a very satisfactory year in terms of overall business performance. The company achieved excellent retail growth in all businesses.
  • Inox Wind wins 100MW in SECI-4 auction. Bid won at a fixed price of Rs 2.51 a unit for 25 years. Orderbook increased to 950MW.
  • NMDC keeps prices of lump ore and fines unchanged at Rs 3000 per tonne and Rs 2660 per tonne.
  • Nitesh Estates awarded a claim of Rs 15 crore in a land dispute.
  • Century Plyboard unit writes off its entire investment in Indonesian subsidiary.
  • Visaka industries begins trial production at new ATUM manufacturing facility.
  • Piramal Enterprises receives NCLT approval for merger of Piramal Finance and Piramal Capital with Piramal Housing Finance.
  • ICICI Bank: Some board directors are likely to meet soon to discuss the way ahead for CEO Chanda Kochhar (Economic Times).

New Listing/Offering

  • Lemon Tree Hotels Limited to list on exchanges today. Its Rs 1,040 crore initial public offer was subscribed 1.19 times on the final day of bidding.
  • Sona Koyo Steering offer-for-sale shares to non-retail investors gets 6.64 times demand; offer for retail investors opens today

F&O Setup

  • Nifty April Futures closed trading at 10,352.8 with a premium of 21 points versus 27 points.
  • April series-Nifty open interest up 3 percent, Bank Nifty open interest down 2 percent.
  • India VIX ended at 14.7, down 0.3 percent.
  • Max open interest for April series at 11,000 call strike, open interest at 38 lakh, up 1 percent.
  • Max open interest for April series at 10,000 Put, open interest at 49.2 lakh, open interest up 1 percent.

F&O Ban

  • In ban: Jet Airways
  • New in ban: Jet Airways

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

Stocks To Watch: Inox Wind, NMDC, Lemon Tree, Piramal Enterprises, Titan

Bulk Deals

  • Apollo Pipes: Hober Mallow Trust bought 59,307 shares or 0.5 percent equity at Rs 580 each.

AIA Engineering

  • DSP Blackrock mutual fund bought 5.72 lakh shares or 0.6 percent equity at Rs 1400 each.
  • Promoter Bhadresh Shah sold 29.99 lakh shares or 3.2 percent equtiy at Rs 1400.06 each.

Magma Fincorp

  • Reliance mutual fund bought 42.39 lakh shares or 1.8 percent equity at Rs 154 each.
  • IDBI mutual fund bought 45.39 lakh shares or 1.9 percent equity at Rs 154 each.
  • Zend Mauritius VC Investments Ltd. sold 2.5 crore shares or 10.5 percent equity at Rs 154.25 each.

Brokerage Radar

Geojit on Cochin Shipyard

  • Initiated ‘Buy’ with a price target of Rs 625.
  • Market leader in ship repair and poised to grow further led by JVs and MoUs.
  • Visibility to enlarge order book, led by defence.
  • Expect to garner Rs 18,000 crore of orders over the next two years.
  • Capacity to double in ship building & repairs by March 2022.
  • Ship repair growth fuelled by capacity expansion.
  • Return ratios to improve with ramp up in execution.
  • Expect revenue, operating income and net profit to compound at 23 percent, 19 percent and 16 percent respectively over the fiscal 2017-2020.

ICICI Securities on Yes Bank

  • Reinitiated ‘Buy’ with a price target of Rs 464; implying a potential upside of 48 percent from the last regular trade.
  • Growth opportunity fairly abundant given smaller but growing balance sheet.
  • Opportunties: new exposures to large corporates, refinancing opportunities in select NCLT cases.
  • Expect retail expansion across the balance sheet.
  • Stock to rerate as retail becomes a meaningful part.
  • Expect 30 percent compounded growth rate in loans over the fiscal 2018-2020.
  • Expect return on assets and return on equity to expand to 1.9 percent and 22.5 percent respectively by March 2020.

Angel Broking on GMM Pfaudler

  • Initiated ‘Buy’ with a price target of Rs 861.
  • Seeing strong order inflow from the user industries.
  • Expect increase in share of non-GL business to 50 percent by 2020
  • Non-GL business and exports to boost growth.
  • GMM likely to maintain above 20 percent growth trajectory through the financial years till March 2020.
  • Expect margins to remain healthy.
  • Strong balance sheet and healthy return ratios.
  • Stock valuations offers good opportunity to enter.

Macquarie on Jubilant Life Sciences

  • Maintained ‘Outperform’ with a price target of Rs 1,096; implying a potential upside of 34 percent form the last regular trade.
  • Specialty ramp-up to be back in focus.
  • Keep an eye on green shoots in pricing for Jubilant’s US generics biz.
  • Expect solid Q4FY18 led by aftereffects of LSI and pickup in specialty pharma.
  • Valuations look attractive; Top mid-cap pharma pick.

Citi on Zee Entertainment

  • Maintained ‘Neutral’; cut price target to Rs 605 from Rs 650.
  • Expect higher investments in Zee due to competitive intensity.
  • Advertising trends remain healthy.
  • TRAI tariff regulations remains key variable for subscription revenue.
  • Q4: OTT losses weigh on earnings; Base business steady.

HSBC on Larsen & Toubro

  • Maintained ‘Buy’ with a price target of Rs 1,535.
  • Order inflows set to surprise positively for December quarter.
  • Expect 9 percent (YoY) order inflow growth for Q4 versus 16 percent (YoY) decline implied from company guidance.
  • Expect modest revenue growth but a marginal decline in EPS owning to one-offs.
  • Expect Earnings to compound at 21 percent over the fiscal 2017-2019 and return on equity to improve to 16.3 percent by March 2020.

Investec on PNB Housing Finance

  • Initiated ‘Buy’ with a price target of Rs 1,600.
  • Expect PNB Housing Finance to grow at healthy pace.
  • PNBHF has best asset quality, productivity and diversified asset/liability mix.
  • PNBHF is the fastest growing HFC with best-in-class asset quality.
  • Business is highly scalable with reasonable return ratios.
  • Growth to drive return on equity to expand to 18 percent by March 2020.