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.
- 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.
- Centrum Capital promoter group acquired 2 lakh shares on June 20.
- Man Infraconstruction promoter Vatsal P Shah acquired 54,000 shares on June 21.
- 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.
- Fine Organic IPO subscribed 8.7 times on the final day.
- RITES IPO subscribed 66.7 times on the final day.
- Rupee closed at 67.83/$ on Friday from 67.99/$ on Thursday.
- 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).
- 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.
- Nifty PCR at 1.65 from 1.48.
- Nifty Bank PCR at 1 from 0.81.
Active Stock Futures
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.