Stocks To Watch: Tata Motors, Biocon, Airtel, GMR
Here are the stocks to watch in Thursday’s trade.
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).
Aramco wants more India deals in plan to double refining output.https://t.co/Fj0aDb0YLv pic.twitter.com/BRNQSMBqJ8
— BloombergQuint (@BloombergQuint) April 11, 2018
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)
Indian government toys with the idea of a sovereign dollar bond. @dugalira reports.https://t.co/7EkfJMiTsY pic.twitter.com/fQnOCTT0bQ
— BloombergQuint (@BloombergQuint) April 11, 2018
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.
Why Indiaâs bond traders are worried.https://t.co/0TAvzKtSJK
— BloombergQuint (@BloombergQuint) April 11, 2018
Active Stock Futures
Jack Maâs Ant is worth 50% more than Goldman at $150 billion.https://t.co/eT8ej10cJA pic.twitter.com/o62T8T7ywl
— BloombergQuint (@BloombergQuint) April 11, 2018
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
Kwality
- 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
As India sets aside $620 billion to modernise its military, global players like Saab, Airbus and Lockheed look to cash in. #DefExpo2018 https://t.co/zMLaFgams1 pic.twitter.com/yDt1vBrwdJ
— BloombergQuint (@BloombergQuint) April 11, 2018
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.