Stocks To Watch: Biocon, Dish TV, Symphony, Avanti Feeds, Phoenix Mills

Asian stocks were off to a muted start as investors assessed a loosening of policy in China amid ongoing trade tensions.

Japanese stocks fluctuated, while shares gained in Australia and fell in South Korea. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, traded 0.8 percent lower at 10,787.50 as of 7:40 a.m.

Here Are The Stocks To Watch In Monday’s Trade:

• Dish TV offered public sale of 50 crore shares at Rs 74 each representing 26 percent of emerging voting capital.
• HDFC, Kotak Mahindra Bank competing for controlling stake in PNB Housing Finance.
• Symphony acquired 95 percent stake in Australian cooling appliances company for Rs 220 crore.
• Biocon received EIR from U.S. FDA for sterile drug product facility in Bangalore.
• Phoenix Mills arm acquired retail development in Indore for Rs 234 crore; to add 1.1 million square feet of retail space.
• Indian Hotels clarified that it has not acquired The Connaught hotel.
• Avanti Feeds approved bonus issue of 1:2; record date at June 27.
• 3M India to acquire 3M Electro & Communication Ind Pvt Ltd. for Rs 590 crore.
• Alok Industries confirmed that its committee of creditors has approved resolution plan submitted by RIL-JM Financial ARC.
• Wheels India mull 1:1 bonus share issue.
• City Union Bank to issue 1:10 bonus shares; record date at July 11.
• Unichem Lab to launch generic Tadalafil after filing ANDA with U.S. FDA.
• Power Grid CMD said it will launch electric vehicle charging stations in Hyderabad, Gurugram and Chennai.
• Fortis Healthcare to announce Q4 and FY18 results today.
• Dr. Reddy’s Labs: Eli Lilly gets a favourable ruling against the Indian drugmaker in Alimta vitamin regimen suit.
• Jai Balaji: Winding-up order recalled by Calcutta High Court.
• Karur Vysya Bank: To consider fundraising including equity and convertibles.
• Tech Mahindra: Says tribunal approves merging Softgen India with company.
• Voltas: JV Voltbek to build first plant in India
• Zuari Agro Chemicals: To consider fundraising via foreign-currency convertible bonds and rights today.
• Indo-Rama Synthetics: To consider preferential issue of 91 lakh shares.

Bulk Deals

• Asian Hotels (West): Promoter Chaman Lal Gupta & Sons HUF sold 1 lakh shares or 0.87 percent equity at Rs 322.98 each.

Zee Media Corporation

• Promoter Arm Infra and Utilites Pvt sold 50 lakh shares or 1.06 percent equity at Rs 29.5 each.
• JSGG Infra Developers LLP acquired 50 lakh shares or 1.06 percent equity at Rs 29.5 each.

Who’s Meeting Whom

• DCM Shriram to meet Edelweiss Financial Services Ltd and Securities Investment Management Pvt Ltd from June 25-26.
• ITC to meet investors from June 25-26.
• PI Industries to meet HDFC Life Insurance and other investors from June 25-29.
• Crompton Greaves to meet Enam AMC, Sundaram AMC and other investors from June 25-29.
• Tata Steel to meet Emso Asset Management, DoubleLine Capital LP and Eastspring Investments from June 26-27.

Insider Trades

• Centrum Capital promoter group acquired 2 lakh shares on June 20.
• Man Infraconstruction promoter Vatsal P Shah acquired 54,000 shares on June 21.

Trading Tweaks

• Swaraj Automotives, Millitoons Entertainment and Zen Technologies placed under ASM.
• Uniply Industries ex date for stock split to Rs 2 from Rs 10 per share.
• Container Corporation of India Ltd last trading day before stock split to Rs 5 from Rs 10 per share.
• Avanti Feeds last trading day before stock split and bonus issue.

IPO Check

• Fine Organic IPO subscribed 8.7 times on the final day.
• RITES IPO subscribed 66.7 times on the final day.

Rupee

• Rupee closed at 67.83/$ on Friday from 67.99/$ on Thursday.

F&O Cues

• Nifty futures end trade at 10834, premium of 12 points vs 4 points earlier.
• Nifty futures shed 4.1 lakh shares in open interest.
• Nifty Bank futures add 2.3 lakh shares in open interest.
• Max open interest for June series at 11,000 Call (open interest at 47.6 lakh).
• Max open interest for June series at 10,700 Put (open interest at 57.1 lakh).

F&O Ban

• In ban: DHFL, JP Associates, Infibeam, CG Power and IDBI Bank.
• New in ban: IDBI Bank.

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.

Put-Call Ratio

• Nifty PCR at 1.65 from 1.48.
• Nifty Bank PCR at 1 from 0.81.

Active Stock Futures

Brokerage Radar

Edelweiss on Cadila Healthcare

• Maintained ‘Buy’ with a price target of Rs 510.
• U.S. would continue to deliver strong growth despite the expected decline in gLialda.
• Domestic business is likely to get back to double-digit growth after two weak years.
• Like company for growth outlook, robust branded portfolio and lean regulatory track record.

Edelweiss on Bajaj Electricals

• Maintained ‘Hold’ with a price target of Rs 555.
• Management expects the consumer business to stabilise in six months.
• RREP implementation’s adverse impact is largely behind.
• Revamping strategy and sharpening focus on in‐house capability.
• Product ramp up and market share gain key to growth.

HSBC on Tata Power

• Maintained ‘Hold’ with a price target of Rs 96.
• Rising coal prices and divestment of non-core assets are positives for the company.
• Delay in receipt of payment on sale of coal mine Arutmin is a drag.
• Resolution of its Mundra power project will also remain a drag.
• Lower earnings by 11 percent and 27 percent for the current and the next financial year.

Nomura On SBI Life

• Maintained ‘Buy’ with a price target of Rs 880.
• Risk-reward better now as valuations 20 percent lower than listing.
• Company will continue to deliver industry-leading growth.
• Focusing more on protection business where it lagged peers in the previous financial year.
• Margins to expand to more than 18 percent by March 2020 despite conservative tax changes.

Citi on Crompton Greaves Consumer

• Maintained ‘Buy’ with a price target of Rs 325.
• Premium fans continue to drive market share gains in fans.
• Lighting opportunity continues to be huge.
• Opportunity to gain share in geysers and coolers.
• Expect the company to deliver 15 percent sales in the current financial year.

CLSA on Tata Motors

• Maintained ‘Sell’ with a price target of Rs 295.
• Big focus on portfolio electrification.
• Cautious on demand outlook due to diesel uncertainty, Brexit and weak demand cycle in the West.
• Targeting internal cost controls; cash flow to remain under pressure near-term.
• Remain negative on JLR given multiple headwinds.