Stocks To Watch: Godrej Consumer, Marico, Phillips Carbon, Future Retail, Central Bank
Here are the stocks to watch in trade today...
India’s equity benchmarks shrugged off a volatile start on Tuesday to close higher for the second consecutive session, aided by gains in oil & gas, energy, power, telecom and information technology stocks. The S&P BSE Sensex Index added 0.75% to 59,744.88 while the NSE Nifty 50 Index advanced by similar magnitude to 17,822.30, highest closing level since September 27.
Here are the stocks to watch in trade today:
Godrej Consumer Products: The company expects to deliver high single-digit sales growth with another quarter of double-digit 2-year CAGR during July-September quarter. It expects operating margins to contract during the quarter driven by a lag between the rise in input costs and increase in end consumer pricing. India sales growth expected to be in double-digit during the second quarter, driven largely by volume growth and calibrated price increases.
Marico: The company expects modest profit growth, margin contraction in July-September quarter. Revenue growth was in low twenties as consumer sentiment was healthy across categories. India volume growth was close to double-digits on a 2-year CAGR basis. International business delivered double-digit constant currency growth, helped by positive trends in all markets but Vietnam.
Coal India: The company’s board has accorded in-principle approval to pre-feasibility report for setting up integrated greenfield aluminium project in Odisha and associated captive power plant by its subsidiary Mahanadi Coalfields.
Central Bank of India has entered into a co-lending partnership with IIFL Home Finance.
Phillips Carbon Black: The company closed its qualified institutional placement issue and raised Rs 400 crore by issuing over 1.63 crore equity shares to 20 qualified institutional buyers at Rs 244 per equity share.
Force Motors: The company’s total production in September stood at 2,159 units. It reported domestic sales of 1,968 units and exports of 272 units.
Canara Bank: The bank has reduced overnight and one-month MCLR by 0.15% and three-month, six-month and one-year MCLR by 0.10%.
Future Retail: The Master Franchise agreement executed between Future7-India Convenience, 7-Eleven INC, Future Corporate Resources and the company--for developing and operating 7-Eleven stores within India-- has been mutually terminated. The Future-7 was not able to meet the target of opening stores and payment of franchisee fees.
MTAR Technologies: CRISIL Ratings has upgraded long-term rating of company’s bank facilities to A-/Stable from BBB+/Positive and short-term rating to A2+ from A2.
Bulk Deals
ICICI Lombard General Insurance Company: Societe Beaujon sold 1.75 crore shares (3.85%) at Rs 1,540.13 per share.
IG Petrochemicals: Rikeen P Dalal HUF bought 1.63 lakh shares at Rs 896.03 per share.
Pledge Share Details
Angel Broking: Promoter Deepak Thakker created a pledge of 3 lakh shares on September 30.
Insider Trades
Bengal & Assam Company: Promoter Hari Shankar Singhania Holdings sold 3.25 lakh shares on September 30. Promoters (Accurate Finman Services, Nav Bharat Vanijya, Sidhivinayak Trading and Investment and JK Credit & Finance) bought 3.25 lakh shares on September 30.
Block Deals
Hinduja Global Solutions: Promoter Hinduja Realty Ventures bought 3 lakh shares (1.44%) at Rs 2,850 per share. Aasia Exports sold 3 lakh shares (1.44%) at Rs 2,850 per share. Promoter Hinduja Group bought 60,000 shares (0.29%) at Rs 2,850 per share. Aasia Corporation LLP sold 60,000 shares (0.29%) at Rs 2,850 per share.
Who’s Meeting Whom
HSIL: To meet Dolat Capital Market on October 6.
India Grid Trust: To meet HDFC Standard Life Insurance on October 7.
Radico Khaitan: To meet Tokio Marine Asset Management on October 7.
Trading Tweaks
Price Band Revised From 20% To 10%: DCW, Patel Engineering
Move Into Short-Term ASM Framework: Godfrey Phillips India, Trident
Move Into ASM Framework: Laxmi Organic Industries, Nelco