The Bombay Stock Exchange (BSE) building stands illuminated at night in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

Stocks To Watch: Cochin Shipyard, Idea Cellular, Infosys, Fortis, Maruti Suzuki

  • Infosys extends alliance with Microsoft for cloud-based digital transformation solutions.
  • Maruti Suzuki targets to sell over 2 lakh automatic cars in FY19.
  • Fortis Healthcare says unit sold off 1.8 crore units of RHT Health Trust for SGD 13.65 million.

Asian stocks slipped Friday after the Trump administration’s tariffs on imports from key allies sent U.S. and European stocks into a tailspin and stoked demand for bonds.

Shares in Australia dropped, while those in Japan and Korea pushed higher. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, traded 0.1 percent higher at 10,725 as of 7:50 a.m.

Stocks To Watch In Friday’s Trade

  • Infosys extends alliance with Microsoft for cloud-based digital transformation solutions.
  • Idea Cellular completes sale of 9,900 standalone towers to ATC for Rs 4,000 crore.
  • Cochin Shipyard signs agreement with Government of Kerala for procurement of marine ambulance for fisheries department.
  • Maruti Suzuki targets to sell over two lakh automatic cars in 2018-19.
  • Bayer CropScience to invest Rs 400 crore in Monsanto India
  • Fortis Healthcare says unit sold off 1.8 crore units of RHT Health Trust for 13.65 million Singapore dollars.
  • PNC Infratech declared L1 for Nagpur-Mumbai Expressway project worth Rs 2,100 crore.
  • Bodal Chemicals to acquire additional 17 percent stake in Trion chemicals for Rs 3 crore.
  • Cholamandalam Investment and Finance to invest Rs 50 crore in its subsidiary Cholamandalam Home Finance.
  • Ashiana Housing has acquired 6.67 acres land in Rajasthan to develop a group housing project with 6.15 lakh square feet area.

F&O Setup

  • Nifty June Futures closed trading at 10,702, discount of 33.9 points
  • Nifty Rollover at 62.6 percent, Bank Nifty Rollover at 75 percent
  • All series-Nifty open interest up 11 percent and Bank Nifty open interest up 28 percent
  • India VIX ended 13.2, down 1.4 percent
  • Max open interest for June series at 11,000 Call, open interest at 30.4 lakh, open interest up 3 percent
  • Max open interest for June series at 10600 Put, open interest at 30.5 lakh, open interest up 46 percent

F&O Ban

In ban: None

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

Bulk Deals

  • Avenue Supermarts: BlackRock India Equities Fund (Mauritius) Ltd. bought 56.62 lakh shares at Rs 1,575.55.
  • InterGlobe Aviation: BlackRock Funds International Opportunities Portfolio bought 43.87 lakh shares or 1.14 percent equity at Rs 1,219.75.
  • ACC: BlackRock India Equities Fund (Mauritius) Ltd. sold 12.8 lakh shares at Rs 1,354.38.
  • Divis Labs: BlackRock India Equities Fund (Mauritius) Ltd. sold 14.5 lakh shares at Rs 1,047.17.
  • Container Corp: BlackRock India Equities Fund (Mauritius) Ltd. bought 12.58 lakh shares or 0.52 percent equity at Rs 1,379.41.
  • IDFC Bank: Blackrock Funds International Opportunities sold 4.31 crore shares or 1.27 percent equity at Rs 40.69.
  • Maharashtra Seamless: Gagandeep Credit Capital Pvt. Ltd. bought 3.63 lakh shares or 0.54 percent equity at Rs 425.

NRB Bearings

  • HDFC Mutual Fund Small and Mid Cap Fund brought 15 lakh shares at Rs 162.5.
  • Ubs Principal Capital Asia Ltd. sold 17.1 lakh shares at Rs 162.5.
  • Trilochan Sawhney Singh Trust 1 sold 9.4 lakh shares at Rs 162.63.

TATA Motor DVR

  • Goldman Sachs Investments Mauritius I Ltd. bought 26.8 lakh shares at Rs 168.48.
  • Integrated Core Strategies Asia Pte Ltd. bought 35 lakh shares at Rs 168.51.

Trading Tweaks

  • Apex Frozen Foods, Bombay Dyeing, Dilip Buildcon, Graphite India, GVK Power, HEG, Radiko Khaitan, Rain Industries, Venky(S) placed under additional surveleince measure by BSE.
  • Reliance Naval and Engineering Ltd circuit filter revised to 20 percent.

Who’s Meeting Whom

  • Capacit’e Infra to meet Sundaram MF and Unilazer Ventures on June 1.
  • Welspun India to meet Philip Capital on June 1.
  • TVS Motors to meet Reliance MF, Kotak MF, Max Life, ICICI Prudential Life, DSP MF and others on June 5.

Insider Trades

  • Anoop Moopen promoter of Aster DM Healthcare buys 20,000 shares from March 28 - 29.
  • Laurus Labs Dr Satyanarayana chava acquired 6.33 lakh shares on May 25.

(As reported on May 31)

Brokerage Radar

Macquarie on Maruti Suzuki

  • Maintained ‘Buy’ with a price target of Rs 11,500.
  • Maruti Suzuki’s strength is its widest sales and service network.
  • Roll-out of NEXA has been transformational for Maruti.
  • Maruti now upgrading all existing channel outlets to ARENA.
  • Digital integration of online and in-store experience is key differentiator.

HSBC on Cox and Kings

  • Upgraded to ‘Buy’ from ‘Hold’; maintained price target at Rs 290.
  • Outlook for hotel business remain strong.
  • Company planning to improve business mix by increasing focus on retail segment.
  • Inexpensive valuation outweighs deteriorating balance sheet concerns.
  • Risk-reward looks favourable at current valuations.

Morgan Stanley on SAIL

  • Maintained ‘Underweight’ with a price target of Rs 66.
  • March quarter ahead of estimates driven by higher volumes and better EBITDA/ton.
  • Management's focus remains on capacity ramp-up, cost efficiency and improvement in product mix.
  • Expect volume ramp-up will be gradual and cost efficiency to still take time.

Macquarie on Jubilant Foodworks

  • Maintained ‘Outperform’ with a price target of Rs 3,103.
  • Very positive on the business fundamentals post meeting with CEO.
  • Focus is to drive same store sales growth (SSSG); operating leverage story to continue on higher SSG.
  • Top pick in India’s consumer space.

Brokerages On Dilip Buildcon

Citi

  • Maintained ‘Buy’ with a price target of Rs 1,405.
  • Stock fell on unconfirmed market rumors relating to resignation of statutory auditors.
  • Exceptional losses booked to get reversed when remaining roads move out of books.
  • Debt increased due to interest cost, capex and investment in SPVs.

Nomura

  • Maintained ‘Buy’; cut price target to Rs 1,322 from Rs 1,347.
  • March quarter witnessed a strong execution; stock down on speculation.
  • Believe reported operating margin is credible in our view.
  • Not concerned about the ability of Shrem Infraventures to fund the asset sale deal.