Traders work beneath a monitor and an electronic ticker at the trading floor of the Philippine Stock Exchange in Bonifacio Global City (BGC), Metro Manila, the Philippines. (Photographer: Carlo Gabuco/Bloomberg)

Stocks To Watch: DLF, TCS, Persistent Systems, Gati, Ion Exchange

Asian stocks traded mixed Friday after an easing in trade tensions between China and the U.S and positive results from Walmart spurred gains in American shares.

Japanese shares rose, while futures signaled gains for when Hong Kong and China markets open, after all major U.S. stock benchmarks climbed. Australian shares slipped and South Korean equities were little changed.

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, traded a little changed at 11,427.50 as of 7:30 a.m.

Short on time? Well, then listen to this podcast for a quick summary before the opening bell!

Stocks To Watch

  • Gati clarified that Allcargo Logistics’ buyout plan has not been finalised, management is still evaluating opportunities.
  • Multi Commodity Exchange to explore setting up spot exchange with gold body.
  • Supreme Court holds return of Rs 2,000 crore bank guarantee to Reliance Communications.
  • Lemontree Hotels signed agreement for a 90-room property at Vijayawada.
  • Ion Exchange signed EPC contract worth Rs 438.84 crore from Vedanta arm.
  • Cosmo Film launched CPP metalized film for laminate structures.
  • Persistent Systems partnered with Three Phase Electric to develop IoT solutions.
  • Axiata relinquished its right as a shareholder of Idea Cellular.
  • TCS signed new agreement for digital transformation with Scotland based Improvement Service.
  • Tree House Education & Accessories entered into an agreement to sell fixed assets for Rs 26 crore.
  • AstraZeneca Pharma received Form 45 permission for Lynparza drug.
  • Jet Airways to announce results on Aug. 27.

Who’s Meeting Whom

  • Mahindra Lifespace Developers to meet Anand Rathi and other investors on Aug. 17.
  • Deep Industries to meet investors on Aug. 17.
  • Khadim India to meet investors on Aug. 17.
  • Dixon Technology to meet Invesco Mutual Fund, SBI Mutual Fund and other investors on Aug. 17.

Insider Trades

  • Chambal Fertilisers & Chemicals promoter acquired 24,000 shares on Aug. 14.
  • Cosmo Films promote acquired 20,000 shares from Aug. 13-14.
  • Srikalahasthi Pipes promoters acquired 16,000 shares from Aug. 13-14.
  • Laurus Labs promoter acquired 7 lakh shares from Aug. 10-13.

Rupee

  • Rupee closed at an all-time low of 70.16/$ versus 69.89/$ on Tuesday.

F&O Cues

  • Nifty August Futures closed trading at 11,410.9, premium of 25.9 points versus 28.3 points.
  • August series-Nifty Open Interest up 1 percent and Bank Nifty Open Interest down 5 percent.
  • India VIX ended at 13.6, up 2.7 percent.
  • Maximum Open Interest for August series at 11,500 Call, Open Interest at 45.4 lakh, Open Interest up 8 percent.
  • Maximum Open Interest for August series at 11,000 Put Open Interest at 48.1 lakh, Open Interest down 6 percent.

F&O Ban

  • In Ban: Adani Enterprises, Adani Power, Jet Airways, Jain Irrigation
  • New In Ban: Jain Irrigation
  • Out Of Ban: Punjab National Bank

Put-Call Ratio

  • Nifty PCR at 1.60 versus 1.70
  • Nifty Bank PCR at 0.81 versus 1.14

Brokerage Radar

UBS on DLF

  • Upgraded to ‘Buy’ from ‘Neutral’; raised price target to Rs 300 from Rs 235.
  • Balance sheet strengthening going unnoticed.
  • Development business to be largely self-funding.
  • Accounting rule change drives big jump in our FY19/20 revenue/earnings.

Ambit on Hathway Cable

  • Maintained ‘Buy’ with a price target of Rs 30.
  • Subscriber clean-up impacts growth.
  • Stellar cost management and ambitious cost control targets.
  • June quarter results indicate that the company is aggressively preparing for Jio’s entry.
  • Believe that the company’s last mile connectivity is a key strategic asset.

UBS on Shankara Building

  • Maintained ‘Buy’ with a price target of Rs 2,150.
  • June quarter review: Impressive top line growth, but yet to deliver similar earnings growth.
  • Heavy rains to impact current quarter’s performance.
  • Like Shankara as it is leading home improvement retailer; no organised competitors.

Goldman Sachs on Bandhan Bank

  • Downgraded to ‘Neutral’ from ‘Buy’; price target unchanged at Rs 710.
  • Downgrade post significant outperformance.
  • Fundamentals remain solid but valuation races ahead.
  • Bandhan can potentially deliver compounded annual growth rate of 34 percent in earnings over FY18-23.
  • Balanced risk-reward at the current valuation.