Stocks in the news: YES Bank\, TCS\, Kotak Mahindra Bank\, PNB and Reliance Capital

NEW DELHI: Nifty futures on the Singapore Exchange were trading 44.50 points, or 0.38 per cent, lower at 11,825, indicating a negative start for the Nifty50. Here are a few stocks which may buzz the most in today’s trade:

Kotak Mahindra Bank, Ambuja Cements: TVS Motor, Exide Industries, Can Fin Homes, Kotak Mahindra Bank, Ambuja Cements, Godrej Properties, Gruh FInance, Indian Hotels, Monsanto India, Raymond and Zensar Technologies are among a few companies which will report their March quarter earnings today.

PNB, BoI, and Union Bank: The government is soon likely to invite select lenders for discussion on a second round of merger in public sector banks, according to a finance ministry official. The lenders to be called may include Punjab National Bank (PNB), Union Bank of India and Bank of India (BoI).

YES Bank: Foreign brokerage Macquarie has double-downgraded YES Bank following its march quarter results. The brokerage has cut price target for the stock by 40 per cent.

Reliance Capital: Reliance Home Finance Ltd (RHFL) and Reliance Commercial Finance Ltd (RCFL) — swamped by credit rating downgrades — will seek to raise funds through the sale of fresh equity as holding company Reliance Capital is willing to cede ownership to new investors.

TCS: Computer Sciences Corp has filed a suit against TCS, alleging the Indian firm is stealing its trade secrets to build an insurance platform, following TCS’ $2-b deal with TransAmerica.

ITC, Hotel Leelaventure: ITC has filed a petition in the Bombay High Court, asking to be heard first, should Hotel Leelaventure approach it for relief in the case related to the deal with Brookfield Asset Management that’s in the National Company Law Tribunal (NCLT).

Mindtree: Mid-tier IT company Mindtree said L&T’s ongoing takeover attempt has impacted its business growth, with FY20 revenue expected to grow in the ‘low-teens’, although the hostile offer had not affected the company’s strategy. “

Jet Airways: A section of Jet Airways’ employees has evinced interest in bidding for the airline and is scouting for investors. The employees have communicated this to SBI chairman Rajnish Kumar, requesting him to consider their bids.

TVS Motor: The Singaporean subsidiary of TVS Motor Company has led a $7-million (about Rs 48-crore) funding round in Altizon, a US-based startup that offers manufacturers a platform to enhance factory performance through machine learning, edge computing and Big Data technologies.

IDBI Bank, Jaypee Infra: IDBI Bank, the debt-stressed Jaypee Infratech’s lead lender, has approached the Allahabad bench of the National Company Law Tribunal (NCLT) to seek an extension to insolvency proceedings beyond the current deadline of May 6, even as the voting for Suraksha Realty’s bid begins from Tuesday.

Bank of Maharashtra: The bank posted a profit of Rs 72 crore in the March quarter as against Rs 113 crore losses in the corresponding quarter year ago, driven by an increase in their interest income and recoveries from reduction in non-performing accounts (NPA).

Biocon: The drug maker is betting on its key biosimilar drug launches in the coming months to boost its revenues hoping to ride the first mover advantage in the price competitive, regulated markets.

Axis Bank: The bank has dragged two more Lanco group companies to the bankruptcy court for defaulting on their loans, intensifying an ongoing legal battle between the private sector bank and the Hyderabad-based infrastructure and energy group, two people familiar with the development said.

Uttam Galva firms: Within days of CarVal Investors securing the support of lenders to Uttam Value and Uttam Galva Metallics, it has been learnt that the bankers to the distressed steel companies had ignored a higher bid from a consortium led by SSG Capital.

Board meetings (Complete list)
Boar

Analyst calls

• Citigroup Global Markets has a sell rating on HDFC Life Insurance Company with a target price of ₹350. HDFC Life continues to lead its peers in product innovation as well as profitability in terms of value of new business margin and return on embedded value, said Citigroup.

HSBC has maintained buy rating on Voltas and raised target price to ₹675 from ₹640. Despite delayed summer and weak growth outlook for auto companies, AC industry should post decent growth in FY20, said HSBC.

• CLSA has retained sell rating on Biocon with a target price of ₹470. The brokerage said profit growth of 64% from year ago in the fourth quarter was 8% lower than estimate, mainly due to flat sequential performance in the biologics business despite recent launches in the EU and rampup in the US.

• Prabhudas Lilladher has downgraded Rallis India to accumulate from buy and reduced target price to ₹173 from ₹242. The new management has prioritised to turnaround the domestic business and while various steps for turning around this business have been planned, investors will diligently observe if the management is walking the talk, the brokerage said.

• Emkay Global has maintained buy rating on Tata Steel and revised target price to ₹715 from ₹683 on introduction of FY21 estimates and rollover of valuations to FY21. The brokerage has revised Europe business EV/EBITDA multiple down to 5 times retaining other multiples intact reflecting its volatile earnings.

Insider Buys: Insider Sells: 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
AGROPHOS 26-Apr-19 Agro Phos India Limited Pro Fin Capital Services Ltd Sell 109,423 69.87
IBREL 26-Apr-19 Indiabulls Real Estate Ltd Shree Naman Developer Ltd. Buy 2,600,000 124.07
JINAAM 26-Apr-19 JINAAMS DRESS LIMITED Kanwal Kishore Aneja Buy 164,000 57.23
JINAAM 26-Apr-19 JINAAMS DRESS LIMITED Indiacredit Risk Management Llp Buy 516,000 57.33
JINAAM 26-Apr-19 JINAAMS DRESS LIMITED Vijaylaxmi Kanwalkishor Aneja Buy 198,000 57.16
JINAAM 26-Apr-19 JINAAMS DRESS LIMITED Shah Hetalkumar Narendrakumar Sell 122,000 57.14
MCX 26-Apr-19 Multi Commodity Exchange of India Limited Jpmorgan Funds Buy 267,000 826.46
PVVI 26-Apr-19 PVV Infra Limited Gkml Software Technologies Private Limited Buy 127,028 24.97
PVVI 26-Apr-19 PVV Infra Limited Basan Financial Services Limited Sell 104,517 24.95
PSEC 26-Apr-19 Prime Securities Ltd Sangeeta Multitrade Private Limited Buy 150,000 39.90
RCOM 26-Apr-19 Reliance Communication Ltd J M Global Equities Pvt Ltd Buy 2,807,834 1.78
RCOM 26-Apr-19 Reliance Communication Ltd Chetan Rasiklal Shah Buy 10,000,000 1.77
RCOM 26-Apr-19 Reliance Communication Ltd Alpha Leon Enterprises Llp Buy 3,894,350 1.78
RCOM 26-Apr-19 Reliance Communication Ltd Jmp Securities Pvt Ltd Buy 3,375,000 1.78
RCOM 26-Apr-19 Reliance Communication Ltd Rattanindia Finance Private Limited Sell 102,000,000 1.80
RSI 26-Apr-19 Ruchi Soya Industries Ltd Jm Financial Products Limited Sell 2,500,000 7.01
SCTF 26-Apr-19 Shailja Commercial Trade Frenzy Limited Niraj Rajnikant Shah Buy 200,000 20.50
SCTF 26-Apr-19 Shailja Commercial Trade Frenzy Limited Ankur Suresh Mehta Sell 200,000 20.50
SOTL 26-Apr-19 Sterlite Technologies Ltd Bnp Paribas Arbitrage Buy 2,439,689 181.00
YI 26-Apr-19 Yuken India Ltd Fazal Nabi Shaik Buy 183,500 745.75
YI 26-Apr-19 Yuken India Ltd Shazia Sultana Sell 182,990 745.75
Source: Edelweiss Alternative Research