Stocks in the news: NBFCs\, Adani Group scrips\, ZEEL\, IndiGo\, BHEL\, and GMR Infra
Stocks in the news: NBFCs, Adani Group scrips, ZEEL, IndiGo, BHEL, and GMR Infra
CLSA has retained sell rating on Ashok Leyland with a target price of Rs 65.
NEW DELHI: Nifty futures on the Singapore Exchange were trading 32.50 points, or 0.27 per cent, higher at 11,845, indicating a negative start for the Nifty50. Here are a few stocks, which may buzz the most in today’s trade:
ZEEL, RCom, Adani group stocks: Adani group firms such as Adani Enterprises, Adani Ports and Adani Gas and select companies such as ZEEL, BHEL, GAIL, OIL India, RCom, InterGlobe Aviation, HAL, Emami, OMAXE, Future Enterprises, Usha Martin, Thomas Cook will announce their quarterly numbers on Monday.
NBFC stocks: The RBI has proposed a set of strict norms for non-banking financial companies (NBFCs), including mandatory investments in government bonds and maintenance of cash thresholds, to enable them to tide over liquidity problems without causing disruptions to the broader financial system.
NTPC: State-run power giant NTPC posted a 48.7 per cent jump in its standalone net profit at Rs 4,350.32 crore for the March quarter compared to the year-ago period mainly on the back of lower expenses.
India Cements: Cement maker India Cements Ltd has recorded net profit of Rs 43.85 crore for the January-March quarter on the back of increase in cement volumes and net plant realisations.
GMR Infra: In breather to GMR Group, the Maldivian government has decided not to press for income tax and fines of over $20 million from the infra major on the compensation it received from the island nation for the premature termination of Male International Airport contract.
Jaypee Infratech, NBCC: Debt-laden Jaypee Infratech's financial creditors, which include bankers and homebuyers, will meet on May 30 to discuss state-owned NBCC's bid to acquire the realty firm and complete stuck housing projects.
Mindtree: Larsen and Toubro raised its stake in Mindtree by about 2 per cent between May 20-24 by picking up shares worth Rs 316 crore. The transactions took its overall shareholding to 28.45 per cent from 26.48 per cent at the start of the week.
NIIT: The company said its consolidated net profit rose 18 per cent to Rs 23.2 crore in the March quarter, helped by increased productivity and turnaround in its skills and careers (SNC) business.
Fortis Healthcare: The company has reported a consolidated net profit of Rs 151.19 crore for the quarter ended March, as against a net loss of Rs 914.32 crore in the corresponding period of the previous fiscal.
PNC Infratech: Infrastructure company PNC Infratech has reported a 25 per cent jump in standalone net profit at Rs 139.93 crore for the quarter ended March, helped by higher income.
JSW Steel: Sajjan Jindal-led JSW Steel, which Friday reported a 48 per cent decline in consolidated net profit for the March quarter, has planned a capex of Rs 15,700 crore for the current fiscal.
Board meetings (FULL LIST) Analyst calls • Motilal Oswal has maintained buy rating on Sun TV Network and lowered target price to ₹690 from ₹740. Till the time the flux gets settled, impact from TRAI’s tariff order along with mounting pressure on viewership share and margins, warrants a discount to the average multiple, said Motilal Oswal.
• CLSA has retained sell rating on Ashok Leyland with a target price of ₹65. Truck industry growth has slowed down in the last six months and there is high likelihood of a downturn ahead after five years of upcycle and new axle norms raising capacity of existing fleet, said CLSA. Falling share of highertonnage trucks in volumes is a further drag, said CLSA.
• ICICIdirect has maintained reduce rating on eClerx Services with a revised target price of ₹860. Healthy growth trajectory in managed services and improving deal pipeline are key positives, said ICICIdirect. However, client specific issues in some buckets and limited visibility of margin enhancement levers is expected to keep profitability muted for the next two years, the brokerage said.
• Phillip Capital retained sell rating on ITD Cementation India and revised target price to ₹90 from ₹115. ITDC delivered a disastrous March quarter, with loss at EBITDA level, the brokerage said. The loss, attributable to the Bengaluru metro project, is expected to dampen the FY20 margins too, the brokerage said.
• Morgan Stanley has maintained overweight rating on Dabur India and revised target price to ₹470 from ₹500. Dabur has the bestpositioned staples portfolio in India, said Morgan Stanley. That said, execution on new product launches over the past two years has been weak, the brokerage said.
Insider Buys:
Bajaj Holdings & Investment Limited: Bajaj Auto Limited has bought 20,485 shares through Market Purchase on May 22, 2019.
LT Foods Limited: Raghuvesh Holdings Private Limitedr has bought 35,000 shares through Market Purchase on May 23, 2019.
Mangalore Chemicals & Fertilizers Limited: Akshay Poddar has bought 80,000 shares through Market Purchase on May 22, 2019.
Pidilite Industries Limited: Pidichem Pvt Ltd has bought 120,000 shares through Inter-se-Transfer on May 22, 2019.
Tanla Solutions Limited: D. Tanuja Reddy has bought 83,165 shares through Market Purchase from May 21, 2019 to May 22, 2019.
Zensar Technologies Limited: Instant Holdings Limited has bought 24,217 shares through Market Purchase from May 21, 2019 to May 22, 2019.
Insider Sells:
Adani Green Energy Limited: Adani Tradeline Llp has sold 75,713,197 shares through Market Sale from May 21, 2019 to May 22, 2019.
Adani Green Energy Limited: Universal Trade And Investments Limited has sold 11,786,803 shares through Market Sale from May 21, 2019 to May 22, 2019.
Axis Bank Limited: Cyril Anand has sold 25,000 shares through Market Sale from May 21, 2019 to May 23, 2019.
Axis Bank Limited: Raj Kumar Khosa has sold 15,750 shares through Market Sale on May 22, 2019.
Axis Bank Limited: Shashi Kant Rathi has sold 15,000 shares through Market Sale on May 20, 2019.
Dr. Lal Path Labs Ltd.: Om Prakash Manchanda has sold 17,251 shares through Market Sale from May 21, 2019 to May 23, 2019.
HDFC Life Insurance Company Limited: Suresh Badami has sold 100,000 shares through Market Sale on May 21, 2019.
Housing Development Finance Corporation Limited: Arivazhagan R has sold 15,225 shares through Market Sale on May 22, 2019.
Housing Development Finance Corporation Limited: Mistry K M has sold 67,000 shares through Market Sale on May 23, 2019.
Housing Development Finance Corporation Limited: Rangan Srinivasa V has sold 15,000 shares through Market Sale on May 22, 2019.
IIFL Holdings Limited: Abhishek Nemkumar Bhandari has sold 20,000 shares through Market Sale from May 20, 2019 to May 22, 2019.
IIFL Holdings Limited: Girish Kulkarni has sold 84,150 shares through Market Sale from May 21, 2019 to May 23, 2019.
IIFL Holdings Limited: Harshavardhan Dole has sold 40,998 shares through Market Sale from May 20, 2019 to May 22, 2019.
ITC Limited: Sibsankar Bandyopadhyay has sold 20,000 shares through Market Sale on May 21, 2019.
Manappuram Finance Limited: Joby M Michael has sold 15,000 shares through Market Sale on May 20, 2019.
PI Industries Limited: Junichi Nakano has sold 17,000 shares through Market Sale from Mar 29, 2019 to May 21, 2019.
Pidilite Industries Limited: Sushilkumar K Parekh has sold 120,000 shares through Inter-se-Transfer on May 22, 2019.
RBL Bank Limited: Vincent Valladares has sold 48,000 shares through Market Sale on May 23, 2019.
RBL Bank Limited: Vishwavir Ahuja has sold 100,000 shares through Market Sale from May 20, 2019 to May 21, 2019.
Subex Limited: Sudeesh Yezhuvath has sold 200,000 shares through Market Sale on May 22, 2019.
Note: Disclosure made under Reg 13(4), 13(4a) of SEBI (IT) regulations 1992.
