A trader monitors financial information on computer screens on the trading floor at Panmure Gordon & Co. (Photographer: Chris Ratcliffe/Bloomberg)

Stocks To Watch: Tata Motors, Biocon, Airtel, GMR

Stocks in Asia were mixed in early trading as investors digested the latest signals from the Federal Reserve on the monetary-policy outlook, escalating tensions in the Middle East and a fractious U.S. political landscape.

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, rose 0.3 percent to 10,451 as of 6:55 a.m.

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

  • Tata Motors group global wholesales up 18 percent (YoY) at 1.53 lakh units in March.
  • Biocon says Mylan partnered with Fujifilm Kyowa to commercialise Adalimumab biosimilar in Europe.
  • IEX signed pact with JEPX to jointly explore opportunities in electricity market.
  • GMR to set up defence manufacturing hub at Krishnagiri, Tamil Nadu.
  • RBI slaps penalty of Rs 3 crore on IDBI Bank for non-compliance of NPA norms.
  • Indian consortium of BPCL, IOC and HPCL signed MOU with Saudi Aramco to jointly develop and build refinery complex at Ratnagiri, Maharashtra.
  • Sanwaria Agro: Q4 profit Rs 35.7 crore versus Rs 15.3 crore year ago.
  • Bids For Jaypee Infra resolution likely to be finalized by April End (Financial Express).
  • Tata group not to bid for Air India with current conditions (Financial Express).

F&O Setup

  • Nifty April futures closed trading at 10,425 with a premium of 8 points from 19.3 points
  • April series: Nifty open interest up 5 percent, Bank Nifty open interest down 3 percent
  • India VIX ended at 14.7, up 1.5 percent
  • Max open interest for April series at 10,500 call strike (open interest at 43.8 lakh, up 5 percent)
  • Max open interest for April series at 10,000 put (open interest at 45.7 lakh)

F&O Ban

  • In ban: Jet Airways, Balrampur Chini, JP Associates
  • New in ban: JP Associates

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

Active Stock Futures

Stocks To Watch: Tata Motors, Biocon, Airtel, GMR

Trading Tweaks

  • Talwalkars Better Value Fitness Ltd circuit filter revised to 10 percent and shifted to B group.
  • Amrutanjan Health Care Limited last trading day before stock split.

Bulk Deals


  • Letko Brosseau Emerging Markets Equity Fund bought 39.90 lakh shares (1.7 percent) at Rs 57.26 each
  • Sidhant Gupta sold 40 lakh shares (1.7 percent) at Rs 57.11 each (average)

Mahanagar Gas

  • Societe Generale bought 12.92 lakh shares (1.3 percent) at Rs 905 each
  • Promoter BG Asia Pacific Holdings Pte Ltd sold 83.96 lakh shares (8.5 percent) at Rs 906.9 each (average)

Praxis Home Retail: Cedar Support Services sold 10.91 lakh shares (4.4 percent) at Rs 200 each

Shalimar Paints: Promoter Nalwa Investments sold 9.23 lakh shares (4.9 percent) at Rs 150 each

Brokerage Radar

Goldman Sachs on OMCs

  • OMC share prices are close to pricing in zero marketing margins.
  • Market worries over subsidy sharing overdone.
  • Maintain positive view on OMCs.
  • Use the recent weakness to add to positions.

JPMorgan on Cement

  • Lack of pricing discipline will continue to weigh on profitability.
  • Supply-side risks evolving; To constrain pickup in utilisation levels in near term.
  • Competitive intensity to remain elevated.
  • Remain constructive on the sector; The current financial and calender year will be challenging.
  • Ultratech: Downgraded to ‘Neutral’ from ‘Overweight’; cut price target to Rs 4,000 from Rs 4,750.
  • ACC: Downgraded to ‘Neutral’ from ‘Overweight’; cut price target to Rs 1,680 from Rs 2,020.
  • Shree Cement: Maintained ‘Overweight’; cut price target to Rs 19,600 from Rs 21,500.
  • Ambuja: Maintained ‘Overweight’; cut price target to Rs 270 from Rs 320.
  • Grasim: Maintained ‘Overweight’; cut price target to Rs 1,350 from Rs 1,450.

Morgan Stanley on Cadila

  • Maintained ‘Overweight’ with a price target of Rs 560.
  • Mylan's court case win to facilitate its market entry in gLialda.
  • Decision along expected lines, given the earlier Appeals Court ruling.
  • Assuming 4-5 player market Cadila could make annual sales of $100-130 million per year.

Nirmal Bang on Uflex

  • Initiated ‘Buy’ with a price target of Rs 504; implying a potential upside of 44 percent from the last regular trade.
  • Aseptic liquid packaging to boost top-line and margins.
  • Focus on packaging business will improve return ratios.
  • Packaging business enjoys higher realisations and margins.
  • Improving BOPET film industry scenario.
  • Expect revenue, operating income and net profit to compound at 11 percent, 13 percent and 16 percent over the fiscal 2017-2020.
  • Packaging business to get higher multiple than commoditised film business.

Credit Suisse on Alkem Labs

  • Maintained ‘Outperform’ with a price target of Rs 2,275.
  • Daman facility Form 483 is concerning.
  • High probability of escalation to Warning Letter or Import Alert.
  • Form 483 implies understaffing at Daman plant.
  • Expect earnings per share to take a hit at 5 percent and 15 percent in case of warning letter and import alert respectively.