Futures –May series

Nifty

• Nifty futures closed trading at 11,781.6, premium of 43 points versus 6 points
• Nifty open interest up 6 percent, adds 9.8 lakh shares in open interest.

Bank Nifty

• Bank Nifty futures closed trading at 30,606, premium of 79 points versus 80 points.
• Bank Nifty open interest up 3 percent adds 40,000 shares in open interest.

Options

• Nifty PCR at 1.12 versus 1.19 (across all series).

Nifty Weekly Expiry 23 May

• Max open interest on call side at 12,500 (16.8 lakh shares) followed by 12,000 (14.8 lakh shares).
• Max open interest at Put side at 11,000 (10.6 lakh shares).
• Max open interest addition seen at 12,500 (+5.5 lakh shares), 12,400C (+4 lakh shares).

Nifty Monthly Expiry 30 May

• Max open interest on call side at 12,500 (38.3 lakh shares) followed by 12,000 (37.8 lakh shares).
• Max open interest on Put side at 11,000 (39.2 lakh shares).
• Max open interest addition seen at 12,500C (+8.9 lakh shares), 10,800P (+5.3 lakh shares).

Stocks In F&O Ban

• In Ban: Adani Power, IDBI Bank and Reliance Capital
• Out of Ban: Jet Airways

On IndusInd Bank

CLSA

• Maintained ‘Buy’; hiked price target to Rs 2,160 from Rs 2,120.
• Slippages high due to IL&FS but manageable exposure to stressed groups.
• Casa growth key to support core loan growth.
• Clarity on succession is key.

UBS

• Maintained ‘Neutral’; cut price target to Rs 1,700 from Rs 1,800.
• Clean up quarter.
• Weak earnings; GNPL increases sharply.
• Expect increase of 100 bps in credit cost vs guidance of 60 basis points.

On Cipla

CLSA

• Maintained ‘Outperform’; hiked price target to Rs 600 from Rs 560.
• March quarter review: Results boosted by one-off U.S. sales
• Core business getting back on track.
• Double digit growth guidance for 2019-20.

Citi

• Maintained ‘Neutral’; hiked price target to Rs 600 from Rs 550
• Good quarter; supply constraints resolved.
• Steady guidance for 2019-20.
• Management commentary provide comfort that factors behind the weakness in H2 are behind

More Calls

Citi on Jindal Steel & Power

• Maintained ‘Buy’; cut price target to Rs 250 from Rs 254
• Finishes a strong year on weak note; Expect recovery in 2019-20.
• Cash flows have improved; see there is ample scope for volume, Ebitda and cash flows to improve.
• Valuations remain attractive.

CLSA on Bank of Baroda

• Maintained ‘Buy’; hiked price target to Rs 150 from Rs 140.
• Slippage remain elevated but high coverage will ease credit costs.
• Retail lending is growing well but uptick in CASA will be key.
• Expect synergy from the Dena-Vijaya merger over the next two years.

• Mangalam Cement promoter groups revoked pledge of 6.3 lakh shares on May 17.
• Emami promoter groups pledged 23,000 shares on May 16.
• Max Financial Services promoter group Max Ventures Investment Holdings pledged 6.02 lakh shares on May 17.
• Max India promoter group Max Ventures Investment Holdings pledged 16 lakh shares on May 17.
• Sun Pharma promoter group Shanghvi Finance revoked pledge of 41.6 lakh shares on May 21.

• Dish TV: T. Rowe Price International Discovery Fund sold 1.2 crore shares or 0.73 percent equity at Rs 28.73 each.
• Cox & Kings Financial Services: Abu Dhabi Investment Investment Authority sold 4.92 lakh shares at Rs 16.75 each (No ownership details given).

Vishal Fabrics

• Veena Investments acquired 4.74 lakh shares or 1.08 percent equity at Rs 286 each.
• Asia Investment Corporation Mauritius sold 4.44 lakh shares or 1.01 percent equity at Rs 286 each.