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Stocks in the news: Maruti Suzuki, Dilip Buildcon, YES Bank, Hero Moto, Coal India and Bharti Infratel

Coal India produced 46.59 million tonnes of coal in May, registering a decline of 1.1%.

ETMarkets.com|
Updated: Jun 03, 2019, 08.38 AM IST
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Stocks in news
The Chandigarh bench of the NCLT has approved the merger of Indus Towers with Bharti Infratel.
NEW DELHI: Nifty futures on the Singapore Exchange were trading 39.50 points, or 0.33 per cent, higher at 11,964.50, indicating a firm start for the Nifty50. Here are a few stocks which may buzz the most in today’s trade:

Bharti Infratel: The Chandigarh bench of the National Company Law Tribunal (NCLT) has approved the merger of Indus Towers with Bharti Infratel, which will create one of the largest telecom tower companies globally.

Dilip Buildcon: The company company has executed an EPC agreement with the NHAI for saoner project valued at Rs 480.06 crore on EPC Mode in Maharashtra.

YES Bank: Facing investor wrath over the actual amount of its stressed assets, the lender is in talks with two private equity investors – Advent International and Apax Partners – to raise equity funds to build investor confidence after attempts for a share sale to a broader set of institutional investors did not materialise.

Coal India: State-owned Coal India Ltd (CIL) produced 46.59 million tonnes of coal in May, registering a decline of 1.1% from the year-ago period, as per a regulatory filing.

GSK Consumers Healthcare: The company said its shareholders approved its proposed merger with FMCG major HUL.

MOIL: State-run MOIL said it has decreased the rates of various grades of manganese ore and other products by 7.5 per cent.

Hero MotoCorp: The country's largest two-wheeler maker Hero MotoCorp reported 13.5 per cent rise in sales to over 6.5 lakh units in May over the previous month.

Tata Motors: Tata Motors reported 26 per cent decline in domestic sales to 40,155 units in May. The company had sold 54,290 units during the same month last year.

Eicher Motors: Royal Enfield, the two-wheeler division of Eicher Motors, Saturday posted sales of 62,371 motorcycles in May, registering a decline of 16.5 per cent.

Tata Steel: The company announced that it has completed the acquisition of debt-ridden Bhushan Energy Ltd.

Maruti Suzuki: The country's largest carmaker Maruti Suzuki India Saturday reported a 22 per cent decline in sales at 1,34,641 units in May.

Mahindra & Mahindra: The auto major reported 3 per cent decline in total sales at 45,421 units in May. The company had sold 46,848 units in the same month last year.

Lakshmi Vilas Bank: The bank is preparing a Plan B just in case its merger plan with Indiabulls Housing Finance gets delayed. The lender is seeking investment of as much as Rs 1,000 crore from private equity funds in the event of a regulatory hitch.

Mindtree: Infrastructure major Larsen and Toubro (L&T) picked up 7.11 lakh shares of IT firm Mindtree between May 27 and 30 for about ₹70 crore, as per regulatory data

Bharti Airtel: The telecom operator expects tariffs to firm up as stability returns to the telecom sector after over two years of intense competition, the top management said on an earnings call on Friday.

SpiceJet: SpiceJet plans to hire up to 2,000 staff, including pilots and cabin crew, of the defunct Jet Airways as the nofrills carrier continues to expand its operations.

BOARD MEETINGS
BOARS


ANALYST CALLS
• Citi has a sell rating on Glenmark Pharmaceuticals with a target price of ₹615. Notwithstanding the recent weakness in the stock, Citi said it is looking for signs of meaningful traction in the US business to turn constructive — as this is key for margin improvement as well as cash generation and meaningful reduction in debt.

• IIFL has an add rating on Bharat Electronics with a target price of ₹149. While gross margins are likely to moderate in FY20/21 due to sales mix, benign employee expenses and other fixed overheads will help operating profit margins sustain at 20-21% levels, with 13-15% sales growth, said IIFL.

• Kotak Institutional Equities has maintained add rating on Ujjivan Financial Services with a target price of ₹375. The brokerage believes that FY20 should start seeing normalisation of the cost-income ratio, a key concern. The valuations are inexpensive with gradual recovery in return on equity towards normalised levels and addressing the issue on listing of the bank should aid valuation expansion from current levels, the brokerage said.

• IDBI Capital Markets has maintained buy rating on Nava Bharat Ventures and trimmed target price to ₹125 from ₹127. The company’s EBITDA in the March quarter was lower than estimated due to weaker-than-expected profitability in the power segment, said IDBI Capital Markets. The stock trades at an attractive valuation, the brokerage added.

• CLSA has maintained buy rating on J Kumar Infraprojects with a target price of ₹315. The key message from J Kumar Infra’s fourth quarter result was its pick-up in new orders despite election-led, slow-down fears and robust execution, said CLSA. The brokerage expects J Kumar’s EPS to see an 18% CAGR over FY19-FY22 and highlighted that the stock looks cheap at 4.6 times FY20 estimated EPS.

Insider Buys:
  • Alembic Limited: Nirayu Private Limited has bought 79,859 shares through Market Purchase from May 28, 2019 to May 29, 2019.
  • City Union Bank Limited: Sri Charanya S has bought 2,87,106 shares through Inter-se-Transfer on May 29, 2019.
  • Filatex India Limited: Vrinda Bhageria has bought 1,32,207 shares through Market Purchase from May 29, 2019 to May 30, 2019.
  • NIIT Technologies Limited: Hulst B.V has bought 3,55,168 shares through Market Purchase from May 28, 2019 to May 29, 2019.
  • Silver Touch Technologies Limited: Palak Vinubhai Shah has bought 25,000 shares through Market Purchase on May 29, 2019.
Insider Sells:
  • City Union Bank Limited: Subramaniam Narayanan has sold 2,87,106 shares through Inter-se-Transfer on May 29, 2019.
  • Edelweiss Financial Services Limited: Kalpana Kiran Maniar has sold 15,000 shares through Market Sale on May 27, 2019.
  • Firstsource Solutions Limited: Mr. Rajesh Subramaniam has sold 50,000 shares through Market Sale on May 28, 2019.
  • ICICI Lombard General Insurance Company Limited: Vinod Mahajan has sold 25,000 shares through Market Sale on May 28, 2019.
  • Indiabulls Ventures Limited: Divyesh Bharat Shah has sold 3,25,000 shares through Market Sale from May 27, 2019 to May 28, 2019.
  • NIIT Limited: Edward Trolley has sold 20,000 shares through Market Sale on May 29, 2019.
  • The Federal Bank Limited: Deepak Govind P A has sold 49,800 shares through Market Sale from May 23, 2019 to May 24, 2019.
  • TVS Electronics Limited: Narayan K Seshadri has sold 3,37,500 shares through Market Sale from May 27, 2019 to May 30, 2019.
  • UPL Limited: Kalyan Mohan Banerjee has sold 24,910 shares through Market Sale on May 28, 2019.
  • Wipro Limited: Santhosh G Nair has sold 49,644 shares through Market Sale on May 30, 2019.
  • Wipro Limited: Vijayasimha Alilughatta has sold 20,000 shares through Market Sale on May 29, 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
BCPC 31-May-19 B.C. Power Controls Limited Harshit Promoters Private Ltd Sell 630,000 43.00
ITFL 31-May-19 Indian Terrain Fashions Ltd Caam Funds India Buy 409,171 111.85
ITFL 31-May-19 Indian Terrain Fashions Ltd Amundi Funds Equity India Select Sell 409,171 111.85
KRID 31-May-19 KRIDHAN INFRA LIMITED Anilbhai V Dangar Buy 195,632 24.17
LIBAS 31-May-19 Libas Designs Limited Rks Family Trust Buy 198,000 51.96
LIBAS 31-May-19 Libas Designs Limited Devrath Bake Bihari Choursiya Sell 150,000 51.18
NRYS 31-May-19 Narayani Steels Limited Bijal Arvindbhai Modi Buy 95,000 30.50
NRYS 31-May-19 Narayani Steels Limited Hinesh Laherchand Modi Buy 105,000 30.50
NRYS 31-May-19 Narayani Steels Limited Nr Dhami Enterprise Sell 210,000 30.51
NSL 31-May-19 Northern Spirits Limited Bhavna Hitesh Patel Buy 186,000 34.77
NSL 31-May-19 Northern Spirits Limited Amit Jayantilal Patel . Sell 99,000 35.00
NSL 31-May-19 Northern Spirits Limited Dimple Vipul Patel . Sell 120,000 34.49
REPR 31-May-19 Repro India Ltd Washington University Sell 10,960 590.00
RONI 31-May-19 Roni Households Limited Shah Mukeshkumar Babulal Sell 126,000 25.00
UDECOR 31-May-19 UNIPLY DECOR LIMITED Niranjan Housing Private Limited Buy 1,106,019 18.78
UDECOR 31-May-19 UNIPLY DECOR LIMITED Super Band Private Limited Sell 1,200,000 18.85

Edelweiss Alternative Research
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