Stocks in the news: Lupin\, DHFL\, Mindtree\, Wipro\, Zee and Jet Airways
NEW DELHI: Nifty futures on the Singapore Exchange were trading 0.50 point, or 0.001 per cent, higher at 11,384, indicating a flat start for the Nifty50. Here are a few stocks which may buzz the most in today's trade:
Zee Entertainment: According to a media report, promoters may sell 20 per cent stake in Zee to Sony for Rs 13,000 crore. The amount will be used to repay debt.
Lupin: USFDA has classified the inspection conducted at the company's Mandideep (Unit 1) facility in December as 'Official Action Indicated' (OAI). The facility could be subject to regulatory or administrative action.
Mindtree, L&T Infotech: L&T Infotech (LTI) is likely to sign a deal with Café Coffee Day founder VG Siddhartha and his associates in the next four days to buy their 21 per cent stake in Mindtree, people briefed on the matter said.
DHFL: Private equity firms Kedaara Capital and Warburg Pincus have emerged as the highest bidders for Avanse Financial Services, an educational services financier owned by the holding company of DHFL. Meanwhile, NHB has concluded its inspection of books for DHFL's alleged misappropriation of loans.
PNB: Punjab National Bank has put its stake in CRIF High Mark, a credit information company that tracks individual and corporate payment history, on sale as it looks to sell all non-core investments and offset the delay in monetising its stake in life insurance business.
Wipro: Azim Premji said all earnings from 34 per cent shares worth about Rs 52,750 crore ($7.5 billion) — would be transferred to the endowment that supports the Azim Premji Foundation. With this, Premji has committed earnings from 67 per cent of Wipro’s shares to his charitable foundation.
Jet Airways: Three airline, which is in the midst of restructuring its operations, has become a standard account for most of the lenders as it has begun meeting payment in the past two months, said two people familiar with the matter.
PFC, REC: International lenders have given their go-ahead to Power Finance Corp's nearly Rs 14,000-crore proposal to buy out REC Ltd for a high fee, clearing the final hurdle for the deal which is crucial for the government to meet its disinvestment target.
HCL Technologies: The IT major will acquire Strong-Bridge Envision in a bid to enhance Digital Transformation Consulting capabilities.
Reliance Industries: A US subsidiary of RIL has stopped all business with Petróleos de Venezuela (PDVSA), the state-owned oil company of Venezuela, to comply with US sanctions on the Latin American country, an RIL spokesperson said.
Larsen & Toubro: The company's image with customers hinges on a transparent probe into its alleged involvement in the Cognizant bribery case, as India’s biggest engineering group expands its business to cement its credentials as a global technology leader.
IPO WATCH The initial public offer (IPO) by miniratna MSTC got off to a slow start on Wednesday, with the issue receiving bids for 8,10,180 shares by 5 pm, which was 5 per cent of the total issue size of 1,76,70,400 shares. At the upper price band of Rs 121-128 per, the issue size is Rs 226 crore.
Board meetings Analyst calls • CLSA has upgraded DLF to buy from sell and revised target price to Rs 229 from Rs 167. After adding debt at a Rs 8-10 billion/quarter pace for four plus years, DLF’s consecutive quarters of flat debt trend on breakeven cashflows marks a long-lasting turn, said CLSA.
HSBC has initiated coverage on Ramco Cements with a target price of ₹540. The second largest cement producer in the south of India suffers from a lack of pricing power due to low capacity utilisation, said HSBC.
• Emkay Global has maintained buy rating on Cholamandalam Investment with a target price of Rs 1,572. The brokerage remains confident of Cholamandalam Investment’s ability to achieve 25 per cent CAGR growth in disbursements for FY18-FY20, driven by market share gains, deepening rural penetration, and product diversification.
• CLSA has assumed coverage on Arvind Fashions with a target price of Rs 1,294. Arvind Fashions is a diversified play on India’s branded apparel market with a range of brands, predominantly casual and denim wear, and a play on value retailing (Unlimited) and other niche segments, said CLSA.
• Kotak Securities has maintained its add rating on Mahindra CIE with an unchanged fair value of Rs 265, valuing the company at 15 times December 2020 estimated EPS. The company expects doubledigit growth in revenues over the next two years due to strong growth in the exports business.
Insider Buys:
Asian Granito India Limited: Mukeshbhai J. Patel has bought 25,000 shares through Market Purchase on Mar 12, 2019.
CEAT Limited: Stel Holdings Limited has bought 19,622 shares through Market Purchase on Mar 8, 2019.
JBF Industries Limited: Chinar Arya Mittal has bought 1,17,386 shares through Market Purchase from Mar 6, 2019 to Mar 11, 2019.
JSW Steel Limited: Sahyog Holdings Private Limited has bought 3,00,500 shares through Market Purchase on Mar 8, 2019.
Jubilant Life Sciences Limited: Jubilant Stock Holding Private Limited has bought 6,50,000 shares through Market Purchase on Mar 7, 2019.
Kaveri Seed Company Limited: Kaveri Employees Trust has bought 75,000 shares through Market Purchase on Mar 8, 2019.
KEC International Limited: Stel Holdings Limited has bought 53,909 shares through Market Purchase on Mar 11, 2019.
Mukand Limited: Bachhraj Factories Pvt Ltd has bought 17,045 shares through Market Purchase on Mar 11, 2019.
Nava Bharat Ventures Limited: Av Dwellings Private Limited has bought 20,000 shares through Market Purchase from Mar 8, 2019 to Mar 11, 2019.
Panama Petrochem Limited: Ittefaq Ice And Cold Storage Co. Pvt Ltd has bought 37,776 shares through Market Purchase from Mar 8, 2019 to Mar 12, 2019.
S H Kelkar and Company Limited: S H Kelkar Employee Benefit Trust has bought 74,200 shares through Market Purchase on Mar 7, 2019.
S H Kelkar and Company Limited: S H Kelkar Employee Benefit Trust has bought 75,000 shares through Market Purchase on Mar 8, 2019.
Triveni Engineering & Industries Limited: Dhruv Manmohan Sawhney has bought 17,39,000 shares through Inter-se-Transfer on Mar 8, 2019.
Worth Peripherals Limited: Raminder Singh Chadha has bought 15,000 shares through Market Purchase on Mar 12, 2019.
Zensar Technologies Limited: Sofreal Mercantrade Private Limited has bought 90,497 shares through Market Purchase from Mar 8, 2019 to Mar 11, 2019.
Insider Sells:
Advanced Enzyme Technologies Limited: Chandrakant Rathi Innovations & Projects Private Limited has sold 24,56,277 shares through Off Market on Mar 8, 2019.
Avanti Feeds Limited: Thai Union Asia Investment Holding Ltd has sold 2,99,976 shares through Market Sale from Mar 11, 2019 to Mar 12, 2019.
Axis Bank Limited: Life Insurance Corporation Of India has sold 15,46,200 shares through Market Sale from Mar 8, 2019 to Mar 11, 2019.
Axis Bank Limited: United India Insurance Company Limited has sold 40,000 shares through Market Sale on Mar 5, 2019.
DCB Bank Limited: Praveen Kutty has sold 58,000 shares through Market Sale on Mar 8, 2019.
DCB Bank Limited: Mr.. Ajay Mathur has sold 35,000 shares through Market Sale from Mar 7, 2019 to Mar 11, 2019.
EID Parry India Limited: Lalitha Vellayan has sold 1,17,880 shares through Market Sale from Mar 6, 2019 to Mar 8, 2019.
HDFC Bank Limited: Paresh Sukthankar has sold 75,000 shares through Market Sale on Mar 11, 2019.
ICICI Bank Limited: Prashant Verma has sold 20,000 shares through Market Sale on Mar 8, 2019.
ICICI Bank Limited: Sanjeev Mantri has sold 25,000 shares through Market Sale on Mar 12, 2019.
ITC Limited: Narendra Kini has sold 15,000 shares through Market Sale on Mar 12, 2019.
ITC Limited: Sanjib K. Bezbaroa has sold 20,000 shares through Market Sale on Mar 11, 2019.
Jubilant Life Sciences Limited: Cumin Investments Limited has sold 6,50,000 shares through Market Sale on Mar 7, 2019.
Laurus Labs Limited: Srihari Raju Kalidindi has sold 5,00,000 shares through Market Sale on Mar 11, 2019.
Triveni Engineering & Industries Limited: Rati Sawhney has sold 17,39,000 shares through Inter-se-Transfer on Mar 8, 2019.
Wipro Limited: Azim Premji Trust has sold 2,66,66,667 shares through Market Sale on Mar 8, 2019.
Note: Disclosure made under Reg 13(4), 13(4a) of SEBI (IT) regulations 1992.
Bulk and Block Deals :
Blg Tickers
Date
Company Name
Acquirer/Seller
Buy /Sell
Qty Traded
Price
ALOK
13-Mar-19
Alok Industries Ltd
Alpha Leon Enterprises Llp
Sell
2,150,130
5.00
ARVINDFA
13-Mar-19
Arvind Fashions Limited
Vanguard Total International Stock Index Fund
Sell
415,119
718.20
ARVINDFA
13-Mar-19
Arvind Fashions Limited
Vanguard Emerging Markets Stock Index Fund A Series Of Vieif
