Capitalstars Updates: Top Corporate News:- 31 Jan 2018

Top Headlines Of The Day:- 31 Jan 2018

Amber Enterprises up 4% as Kotak fund buys share in company

Workers at Bajaj Auto plants go on indefinite hunger strike, stock opens weak

BEL approves buy-back of 2.04cr equity shares at Rs182.50 per share

NTPC establishes $6bn MTN Programme on India’s International Exchange

SBI hikes bulk deposit rates by 50-140 basis points

Amber Enterprises up 4% as Kotak fund buys share in company
Shares of Amber Enterprises India rose nearly 4% today after Kotak Fund-India Midcap bought 253,290 shares of the company at Rs1, 149.15 in a bulk deal on the NSE.
Shares of Amber Enterprises got listed on Tuesday at a premium of 37% to their issue price of Rs859.
Amber Enterprises India Ltd is currently trading at Rs 1285, up by Rs 47.75 or 3.86% from its previous closing of Rs 1237.25 on the BSE.
The scrip opened at Rs1, 232.5 and has touched a high and low of Rs1, 298.3 and Rs1, 230, respectively. The current market cap of the company is Rs3, 890.72cr.

Workers at Bajaj Auto plants go on indefinite hunger strike, stock opens weak
Workers at Bajaj Auto Limited’s (BJAUT) plants in Akurdi and Chakan have gone on an indefinite hunger strike from January 29, 2018. The workers’ Union involved in this strike is Vishwa Kalyan Kamgar Sanghatana. BJAUT reported this to stock exchanges on January 30, 2018.
The three reason for workers going on hunger strike are i) pending issue of eight workmen dismissed from services for various acts of misconduct in 2013-14, ii) dismissal of six workmen who did not report to place of transfer/deputation despite court orders and iii) delay in conclusion of wage review process due with effect from April 1, 2016. The matter is pending before the Industrial Court, Pune and High Court of Bombay.

BEL approves buy-back of 2.04cr equity shares at Rs182.50 per share
The board of directors of Bharat Electronics Ltd (BEL), in their meeting held on January 30, 2018, approved the proposal to buy-back the equity shares of the company. The buy-back would be of ~2.04cr equity shares (representing 0.83% of total equity shares) at a price of Rs182.50 per share (~7% premium to the last closing price) payable in cash.
The buy-back size amounts to Rs372.26cr, representing 5% of the aggregate of the fully paid-up equity share capital and free reserves of the company. 
The promoter of the company also intends to participate in the proposed buyback. The buyback is subject to approval from the shareholders and all other applicable statutes. The board has fixed February 9, 2018, as the record date for the buy-back.

NTPC establishes $6bn MTN Programme on India’s International Exchange
India’s largest power producer NTPC has listed its $6bn (about Rs40, 000cr) MTN programme (debt instrument) on India International Exchange at IFSC, GIFT City (India INX). While doing so, NTPC became India’s first quasi-sovereign company to list at India INX.
The Listing was done on January 24, 2018, on the Global Securities Market of India INX; India’s first international exchange.
The listing will help NTPC raise funds at lower costs from international investors and also allow foreign investors to access good quality Indian debt paper.

SBI hikes bulk deposit rates by 50-140 basis points
SBI announced that the leading banker is going to increase bulk deposit rates by 50-140 bps effective today. Following this announcement, shares of SBI reached a high of Rs318.8 in the morning trade, gaining ~2%. However, the stock was unable to hold on to the gains as the day progressed.
The stock ended at Rs312.85, up by Rs1.75 or 0.56% from its previous closing of Rs311.1 on the BSE. The scrip opened at Rs311.05 and has touched a high and low of Rs318.75 and Rs310.8 respectively.
The bank’s FY17 consolidated loan book stood at Rs.19.5 lakh cr. Its consolidated GNPA & NNPA stood at 9.1% & 5.2% as of FY17.

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Birla MF Co-CIO Patil sees low teens 2018 growth for Nifty, likes auto, consumer durables, telecom:- 27 Jan 2018

Considering the government’s long-term vision, and the trend set through earlier budgets, the focus of the upcoming Union Budget is likely to remain largely on infrastructure and the rural economy, believes Mahesh Patil, Co-Chief Investment Officer-equities at Aditya Birla Sun Life Mutual Fund.

In an exclusive interview to Moneycontrol, Patil said that investors should not expect a repeat of 2017 in terms of returns, since the Nifty returned as much as 29 percent in the year. It is unlikely to happen again in 2018

We saw a good run up in 2017. How do you see markets panning out in 2018?

2018, as we step forward into this new calendar year, things are looking much better. A lot of things have fallen into place. Last year, we went through ups and downs. The economy took kind of a beating, but the gains of all the reforms would start to unfold and we are expecting a pretty good recovery back in corporate earnings.

Global outlook continues to remain fairly stronger than it was after the global financial crisis. So, all these tailwinds should continue to favour the markets. Since we did very well last year, the return expectations would probably have to be moderated down now because we are starting from a higher valuation level and to that extent, the market returns this calendar year would probably be muted compared to last year. But still, our view is that returns should be fairly good for investors to look positively at equities compared to any other asset class.

According to your presentation GDP, growth will be more than 7 percent in FY19. Is that achievable?

Yes, it is fairly achievable because the growth was pulled down because of reforms. We are seeing some recovery in capital expenditure, at least private sector capex will slowly start to pick up, though not in a big way. But at least the lower end will and rural consumption is moving up. Global growth is also fairly strong. So, even the net exports should be fairly good. So 7 percent GDP growth, considering all these factors, should quite be possible.

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Capitalstars Updates: News that mattered during the week: 20 Jan 2018

Important news that made headlines during the week.

• Biocon enters into a global partnership with Sandoz to develop, manufacture and commercialize multiple biosimilars in immunology and oncology
• Torrent Pharma acquires US-based generic pharmaceuticals Bio-Pharma Inc
• Tech Mahindra to acquire 17.5% shares of Altiostar on a fully diluted basis
• TCS expands partnership with Shure Inc to establish global development center
• Housing Finance gets RBI nod for US $500mn masala bonds
• Adani Power gets 49% stake in 600 MW Korba West Power
• Varun Beverages to acquire franchisee rights for Pepsico India in the state of Bihar
• Sun Pharma got a license to sell the generic version of Linzess in the US from February 1, 2031, after settling patent litigation
• GAIL, Gazprom sign pact for re-negotiated long-term LNG sale
• Texmaco Rail considering setting up logistics hub and food park in West Bengal
• Kotak Mahindra is mulling divesting its stake in MCX
• Bajaj Finance to hold 12.6% stake in Mobikwik on a fully diluted basis post-conversion of Compulsorily Convertible Preference Shares for a total investment of Rs225cr

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CapitalStars Market Expert Calls On Zee Business Dated 22 Nov 2017

CapitalStars Market Expert Calls On Zee Business Dated 22 Nov 2017 

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INDIAN BENCHMARKS: NIFTY ENDS OCT SERIES ABOVE 10300 SENSEX ENDS UP 104 POINTS NIFTY UP 48 POINTS

Equity benchmarks ended at fresh record closing high on last day of October series.
The 30-share BSE Sensex rose 104.63 points to 33,147.13 and the 50-share NSE Nifty was up 48.40 points at 10,343.80.

Maruti Suzuki, HDFC, L&T, Vedanta, Bharti Infratel, IOC, HPCL, BPCL, Cipla, Yes Bank and Sun Pharma gained 1-5 percent.
HCL Technologies, SBI, ICICI Bank, TCS, Indiabulls Housing and TCS fell 1-5 percent.

HEADLINES OF THE DAY
Engineers India stock zooms 8% after Q2 FY18 PAT rises 27%
Castrol India to consider bonus issue on Nov 7
Jubilant Foodworks Q2FY18 standalone net profit rises 124.5% yoy to Rs.48.5 crore

The crucial resistance for Nifty spot is now seen at 10360 and above this 10521.Support for the immediate term is now placed at 10220 and next support will be 10140.

UPCOMING RESULTS: IOC, KSCL, HEIDELBERG CEM, CANBK, ITC, MARUTI, PVR, SPARC, NAVIN FLUORINE

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NIFTY FUTURES & BANK NIFTY FUTURES OVERVIEWS - 03 JUN 2016

CS NIFTY FUTURES (JUNE) OVERVIEW

TREND MIXED TO BULLISH

RES2:8295

RES 1:8255     

SUP1:8155

SUP2:8115

CS BANK NIFTY FUTURES (JUNE) OVERVIEW

TREND MIXED TO BULLISH

RES 2:17755

RES 1:17675

SUP1:17325

SUP2:17275

                                                  

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Top 5 Things to Know In the Market on Thursday

Here are the top five things you need to know in financial markets on Thursday, June 2:

1. OPEC meets in Vienna
The Organization of the Petroleum Exporting Countries’ closely-monitored meeting kicked off in Vienna at 08:00GMT, or 4:00AM ET. The oil cartel is due to release a statement following the conclusion of the summit at around 14:00GMT, or 10:00AM ET, although no dramatic announcement on a production cut is expected.
Speaking to journalists ahead of the meeting, Saudi Arabia’s oil minister, Khalid Al-Falih, said the oil group’s strategy of letting the market rebalance itself out on its own appeared to be working.
Brent was up 25 cents, or 0.5%, at $49.97 a barrel by 9:55GMT, or 5:55AM ET, after rising to a high of $50.30, while U.S. crude tacked on 20 cents, or 0.4%, to $49.21.
Traders will also eye weekly government stockpile data from the U.S. due at 15:00GMT, or 11:00AM ET, amid expectations for a drop of 2.5 million barrels.

2. ECB policy decision, Draghi in focus
The European Central Bank's interest rate decision is due at 11:45GMT, or 7:45AM ET, with most of the focus likely to be on President Mario Draghi's press conference 45 minutes after the announcement. The consensus is that the ECB will stand pat on rates and reaffirm its focus on implementing the stimulus package announced in March.
The ECB will also release updated inflation and growth forecasts, with some analysts expecting the bank to raise its projections for inflation and growth.

3. U.S. employment data due ahead of the bell
The U.S. was to release the ADP jobs report for May at 12:15GMT, or 8:15AM ET, followed by weekly jobless claims data at 12:30GMT, or 8:30AM ET.
Market players are also focusing on Friday's U.S. nonfarm payrolls report. The consensus forecast is that the data will show jobs growth of 162,000 last month, following an increase of 160,000 in April, the unemployment rate is forecast to dip to 4.9%, while average hourly earnings are expected to rise 0.2% after gaining 0.3% a month earlier.
Solid readings could further heighten expectations for a move as soon as the Federal Reserve's next policy meeting on June 14-15.
Traders are now pricing in a 20% chance for a rate hike in June and 58% in July, according to CME Group's (NASDAQ:CME) FedWatch tool. September odds were at about 66%.

4. Global stocks mostly higher ahead of key risk events
U.S. stock futures pointed to a flat open on Thursday, as market players looked ahead to key U.S. data later in the day for more clues on the Federal Reserve’s next move.
Elsewhere, European stock markets were marginally higher, as investors waited to hear about monetary policy from the European Central Bank and oil output policy from the Organization of the Petroleum Exporting Countries.
Earlier, Japan's Nikkei tumbled 2% after the government moved to delay a sales-tax hike for more than two years, bucking mostly higher markets around the region.

5. Dollar moves further away from 2-month highs
The U.S. dollar retreated further from a two-month high against a basket of major currencies early Thursday. The dollar index was down 0.15% at 95.28, moving further away from Monday’s two-month peak of 95.96.

The greenback fell to a two-week low of 108.84 against the yen and was last down 0.5% at 109.01 (USD/JPY), while the euro touched a two-week peak of 1.1220 and last traded at 1.1202, up 0.1% (EUR/USD).

                                             

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TOP CORPORATE NEWS - 27 May 2016

IOC Q4 Net Profit comes at Rs1,236 Cr

IOC Q4 Net Profit comes at Rs1, 236 Cr

Total Income at Rs.80, 449.7 Cr

EBITDA at Rs.10, 044 Cr

EBITDA Margin At 5%

GRM At $3/bbl Vs $6/bbl (QoQ)

Canara Bank Q4: Net Loss at Rs3,905 Cr

Canara Bank Q4: Net Loss at Rs3, 905 Cr

Gross NPA At 9.4% Vs 5.84% (QoQ)

Gross NPA +59.7% at Rs.31, 638 Cr Vs Rs.19, 813 Cr (QoQ)

Net NPA At 6.42% Vs 3.90% (QoQ)

Tax Write-back At Rs.779.5 Cr Vs Expense of Rs.110 Cr (YoY)

Provisions at Rs.6, 331 Cr Vs Rs.1, 429 Cr (QoQ)

NII -4.5% at Rs.2, 374 Cr Vs Rs.2, 486 Cr (YoY)

SBI Q4FY16: Mixed Bag performance, Asset quality worsens

State Bank of India Q4FY16 results first cut: Mixed Bag performance

SBI Q4: Net Profit -66.2% At Rs.1,264 Cr Vs Rs.3,742 Cr (YoY)

Gross NPA +34.9% At Rs.98,172 Cr Vs Rs.72,791 Cr (QoQ)

Gross NPA At 6.5% Vs 5.1% (QoQ)

Net NPA At 3.81% Vs 2.89% (QoQ)

Net NPA +38.7% At Rs.55,807 Cr Vs Rs.40,249 Cr (QoQ)

Slippages At Rs.30,312 Cr Vs Rs.20,692 Cr (QoQ)

Provisions For NPA At Rs.12,139.2 Cr Vs Rs.7,644.6 Cr (QoQ)

Lupin gains on receiving EIR for Mandideep facility

Shares of Lupin gained 3% to Rs1507 on NSE on back of reports that the company has got Establishment Inspection Report (EIR) for its Mandideep facility.

This is sentimentally positive for Lupin; stock is up by 3%; USFDA clearance for Goa plant will be key to watch for going forward.

Torrent Pharma in talks to buy Glochem Industries for Rs300 crore

Torrent Pharma in talks to buy Glochem Industries for Rs300 crore – Long term positive for Torrent if deal goes thru

Torrent Pharma is in advanced talks to buy bulk drugs supplier Glochem Industries for about Rs300 crore.

Glochem is a medium-sized company that makes bulk drugs, or active ingredients, which are used as raw material for medicines and has USFDA approved sites in Hyderabad and Vizag where oral bulk actives are manufactured.

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TOP CORPORATE NEWS- 20 May 2016

IRB Infra Q4 consolidated net profit at Rs151 cr

IRB Infrastructure Developers has announced the following Q4 & FY16 results for the quarter & year ended March 31, 2016:

Standalone

For the Quarter ended March 31, 2016

The Company has posted a net profit of Rs94.37 crore Vs Rs12.33 crore (YoY).

Total Income increased to Rs972.66 crore Vs Rs529.96 crore (YoY).

Lupin cracks as FDA overhang continues

Shares of Lupin cracked 9% to Rs1505 on NSE despite strong outlook as the FDA overhang continues; retain Hold with PT revised to Rs1,850

Strong operating performance:

For Q4FY2016, Lupin’s sales grew by 35.8% to Rs4,181.2 crore; operating profit improved by 73.2% to Rs1,367.4 crore and profit grew of 47.5% to Rs807 crore.

The strong set of numbers was aided by two months’ exclusivity sales from gGlumetza coupled with price hikes in Fortamet.

Profit was affected (compared with growth in operating profit) due to higher tax rate of 33.6% in Q4FY2016 against 19.5% in Q4FY2015. Also, the interest cost has gone up due to increase in debt (taken for funding Gavis acquisition).

Pidilite Inds Q4 consolidated net profit up 89% (YoY)

Pidilite Industries Ltd has announced the Q4 & FY16 audited following results for the quarter & year ended March 31, 2016:

Standalone

For the Quarter ended March 31, 2016 (YoY)

The Company has posted a net profit of Rs115.04 crore Vs Rs77.22 crore.

Total Income increased to Rs1101.10 crore Vs Rs975.93 crore.

Allcargo Logistics rallies on plans to buy majority stake in CCI

Shares of Allcargo Logistics surged 5.4% to Rs153.10 on BSE on back of reports that the company has plans to buy majority stake in CCI for Rs130 crore – Positive for Allcargo Logistics.

The deal will lead to the formation of a new entity in which Allcargo will hold 62%, while the rest is held by CCI.

Force Motors to invest Rs300 cr in FY17 for expansion

Force motors has announced an expansion plan for FY17 with an investment of Rs300 Cr towards new facilities and product enhancement.

The company which supplies engines to marque luxury car maker like BMW and Mercedes is planning to set up a new plant in Chakan (Pune) for manufacturing engines for Mercedes Benz with the investment of Rs150 crore.

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TOP CORPORATE NEWS- 11 Mar 2016

CRISIL downgrades PSU Banks

Credit rating agency CRISIL downgraded eight PSU banks, following deterioration in their asset quality, and also revised the outlook on five of them to negative. The agency also placed the rating on Syndicate Bank on a negative watch list.The state-run banks whose ratings have been downgraded were BOI, Central Bank of India, Corporation Bank, Dena Bank, IDBI Bank, IOB, Syndicate Bank and UCO Bank. Those whose outlooks have revised down were Andhra Bank, Bank of Baroda, Canara Bank, Punjab National Bank and Punjab & Sind Bank.

Dr Reddy's ink pact with Turkey co for biosimilar drugs

DRL has announced a strategic collaboration agreement, involving 3 biosimilar products, which shall be registered and subsequently commercialised under the terms of agreement with TR-Pharm in Turkey – Long term Positive for Dr Reddy.

United Spirits plans to sell 13 residential properties

United Spirits is planning to sell 13 residential properties and mandated a leading banker to re-evaluate these assets.The transaction is expected to be completed by the second half of the next financial year. The amount raised through the sale of assets will be utilized to reduce debt on books.

Welspun Corp gains on order win for Offshore project

Welspun Corp has won an order for supply of 200K MTs pipes for an offshore project in the Middle East. With the addition of this order, current order book of the company has crossed 1136K MTs worth Rs6500 crore.

Ashok Leyland plans to cut debt and focus on core biz

Ashok Leyland has announced to wrap up 23 of its 27 joint ventures in near term so as to reduce its debt and focus on core business.The company had diversified into many non-core areas such as retail services, construction equipment, wind energy and infotronics by forming joint ventures. Most of the joint ventures are loss making.

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