Stocks To Watch: Bank Of Baroda, Cadila Healthcare, Sun Pharma, Tech Mahindra
- Neuland Labs to allot 16.75 lakh equity shares at Rs 750 each through QIP
- Camlin Fine Sciences to raise Rs 250 crore via issue of securities
- Nifty results today: Sun Pharma, Tech Mahindra
Asian stocks opened lower after the cancellation of the U.S.-North Korea summit, which sparked a move to safe-haven assets.
The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fluctuated between gains and losses to trade at 10,512 as of 7:30 a.m.
Stocks To Watch In Friday’s Trade
- Avenue Supermarts says founder RK Damani has completed the sale of 62.4 lakh shares (1 percent stake) between May 21- 24.
- Neuland Labs to allot 16.75 lakh equity shares at Rs 750 each through QIP.
- Gayatri Projects receives letter of award for highway project in Telangana worth Rs 425 crore.
- Camlin Fine Sciences to raise Rs 250 crore via issue of securities.
- Kaveri Seeds to buy back 29.63 lakh shares at Rs 675 each.
- Nifty May futures closed trading at 10,505 discount of 8.6 points
- May series: Nifty open interest down 2 percent; Bank Nifty open interest down 1 percent
- India VIX ended at 13.1, down 7 percent
- Max open interest for May series at 10,800 (open interest at 49.4 lakh, down 11 percent)
- Max open interest for May series at 10,500 (open interest at 55.2 lakh, up 20 percent)
- In ban: BEML, DHFL, Jet Airways, Jain Irrigation, Reliance Communications
- New in ban: Jet Airways, Jain Irrigation
- 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
- RK Damani sold 47.30 lakh shares or 0.8 percent equity at Rs 1,360.2 each.
- Axis Capital sole banker to deal.
- HDFC MF bought 1.98 lakh shares or 2.4 percent equity at Rs 1,292 each.
- DSP Blackrock Emerging Stars Fund sold 2 lakh shares or 2.4 percent equity at Rs 1292 each.
Fuel Price Update
State-run oil marketers hiked petrol and diesel prices for the twelfth day in a row.
The price of petrol was hiked by 36 paise today to Rs 85.65 a litre in Mumbai and diesel was raised by 24 paise to Rs 73.20 a litre, according to data released by Indian Oil Corporation Ltd.
Nifty Earnings To Watch
- Sun Pharma
- Tech Mahindra
Other Earnings To Watch
- Amber Enterprises India
- Bank of Baroda
- Cadila Healthcare
- Central Bank of India
- Engineers India
- General Insurance Corporation of India
- India Cements
- Indian Hotels
- Jagran Prakashan
- Karur Vysya Bank
- Lakshmi Vilas Bank
- Lemon Tree Hotels
- Max Financial Services
- NLC India
- Page Industries
- PC Jeweller
- Va Tech Wabag
Earnings Reactions To Watch
United Spirits (Q4, YoY)
- Revenue up 7 percent at Rs 2,173 crore.
- Net profit at Rs 211 crore versus net loss of Rs 104 crore.
- One-time loss of Rs 291 crore in the base quarter.
- Ebitda up 5 percent at Rs 274 crore.
- Margin at 12.6 percent versus 12.9 percent.
MOIL (Q4, YoY)
- Revenue up 57 percent at Rs 398 crore.
- Net profit up 10 percent at Rs 128 crore.
- Ebitda up 42 percent at Rs 173 crore.
- Margin at 43.5 percent versus 48.2 percent.
Camlin Fine Sciences (Q4, YoY)
- Revenue up 54 percent at Rs 232 crore.
- Net loss of Rs 4 crore versus net loss of Rs 7 crore.
- Ebitda at Rs 11 crore versus Ebitda loss of Rs 7 crore.
- Margin at 4.7 percent versus -4.6 percent.
South India Paper Mills (Q4, YoY)
- Revenue up 30 percent at Rs 56 crore.
- Net profit up 50 percent at Rs 3 crore.
- Ebitda up 27 percent at Rs 7 crore.
- Margin at 12.5 percent versus 12.8 percent.
Sudarshan Chemicals (Q4, YoY)
- Revenue up 31 percent at Rs 384 crore.
- Net profit up 32 percent at Rs 22.5 crore.
- Ebitda at Rs 56 crore versus Rs 33 crore.
- Margin at 14.6 percent versus 11.3 percent.
Kaveri Seed Company (Q4, YoY)
- Revenue up 5 percent at Rs 42 crore.
- Net loss of Rs 18 crore versus net loss of Rs 87 crore.
- Ebitda loss at Rs 13 crore versus a loss of Rs 27 crore.
Pidilite Industries (Q4, YoY)
- Revenue up 15 percent at Rs 1,485 crore.
- Net profit at Rs 244 crore versus Rs 157 crore.
- Ebitda up 6 percent at Rs 274 crore versus Rs 258 crore.
- Margin at 18.5 percent versus 19.9 percent.
Sequent Scientific (Q4, YoY)
- Revenue up 18 percent at Rs 233 crore.
- Net profit at Rs 399.5 crore versus Rs 7 crore.
- One-time gain on sale of assets worth Rs 393 crore in current quarter.
- Ebitda up 36 percent at Rs 30.5 crore.
- Margin at 13.1 percent versus 11.4 percent.
Glaxosmithkline Pharmaceuticals (Q4, YoY)
- Revenue down 1 percent at Rs 749 crore.
- Net profit down 6 percent at Rs 106 crore.
- Ebitda up 13 percent at Rs 155 crore.
- Margin at 20.7 percent versus 18.0 percent.
Heritage Foods (Q4, YoY)
- Revenue up 14 percent at Rs 562 crore.
- Net profit down 91 percent at Rs 21 crore.
- Ebitda loss at Rs 4 crore versus Rs 10 crore.
LT Foods (Q4, YoY)
- Revenue up 15.5 percent at Rs 1,071 crore.
- Net profit flat at Rs 32 crore.
- Ebitda up 4 percent at Rs 96.5 crore.
- Margin at 9 percent versus 10 percent.
Cummins India (Q4, YoY)
- Revenue up 4 percent at Rs 1,233 crore.
- Net profit up 2 percent at Rs 161 crore.
- Ebitda flat at Rs 172 crore.
- Margin at 13.9 percent versus 14.4 percent.
Triveni Engineering (Q4, YoY)
- Revenue down 18 percent at Rs 735 crore.
- Net loss of Rs 102 crore versus net profit of Rs 60.5 crore.
- Ebitda loss at Rs 114 crore versus Rs 169.5 crore.
CLSA On GAIL
- Upgraded to ‘Buy’ from ‘Sell’, hiked price target to Rs 405 from Rs 337.
- Bunched-up expenses and lower gas trading profit led to 20 percent PAT miss.
- Recent crude price spike not only eliminates U.S. LNG risk but also boosts its core earnings per share.
- China demand and crude spike has turned U.S. LNG from a headwind to a tailwind.
- Several imminent triggers and stock ignoring crude spike gains.
Morgan Stanley On GAIL
- Maintained ‘Overweight’ with a price target of Rs 510.
- High imported gas costs were key to the Q4 miss; operationally good quarter.
- GAIL's contracted gas sourcing should shield it from seasonal volatility.
- Oil to gas differentials widen and concerns about contracted LNG diminish.
Morgan Stanley on United Spirits
- Maintained ‘Equal Weight’ with a price target of Rs 3,250.
- Strong volume growth will drive 2018-19 consensus estimates.
- Strong volume growth in the 'prestige and above' segment.
- Risk-reward for the next 12 months appears less favorable at current valuations.
CLSA On NCC
- Maintained ‘Buy’ with a price target Rs 160.
- Backlog growth robust and reports all–time high Ebitda margin.
- Record inflow driven by AP Capital infrastructure and Delhi government building contracts.
- Buy on improving state capex growth visibility and asset-light model.
Kotak on City Union Bank
- Maintained ‘Add’; hiked price target to Rs 190 from Rs 180.
- Healthy operating profit growth with stable performance on most metrics.
- RoE improvement still looks unlikely; FY2015-18 has been at 15 percent.
- Consistent performance maintained; Valuing bank at 2.4 times book and 16 times March 2020E EPS.
Deutsche Bank on Jain Irrigation
- Maintained ‘Sell’ with a price target of Rs 82.
- Higher polymer costs likely to pressure micro irrigation project margins.
- Net debt/EBITDA remained elevated at 3.8 times (versus guidance of 3 times).
- Margins at risk from higher oil price.