Stocks in the news: Polycab India, Wipro, Nestle, Jet Airways, Cipla and Hathway Cable – Economic Times

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NEW DELHI: Nifty futures on the Singapore Exchange were trading 13 points, or 0.11 per cent, higher at 11,750, indicating a positive start for the Nifty50. Here are a few stocks which may buzz the most in today’s trade:

Wipro, Mastek: India’s third-largest IT player Wipro is likely to report on Tuesday a 1-1.9 per cent quarter-on-quarter (QoQ) growth in constant currency (CC) revenues. Midcap IT firm Mastek, Den Networks and 5paise Capital are a few other firms which are scheduled to report their quarterly numbers today.

Polycab India: Shares of Polycab India will be listed on BSE and the National Stock Exchange on Tuesday after a blockbuster IPO, which subscribed around 52 times last week. The public offer was opened for subscription during April 5-9 with a price band of Rs 533 to Rs 538.

Nestle India: At its AGM on April 25, the FMCG firm will seek approval for payout every 5 years against one-time sanction. Investors and proxy advisory firms had raised concerns over an earlier resolution that sought a one-time sanction from them.

Lakshmi Vilas Bank (LVB): The lender said it plans to allot nearly 5 per cent equity shares on a preferential basis to Indiabulls Housing Finance.

Tata Power: The company is confident of getting regulatory approvals for higher tariff for its loss-making Mundra ultra-mega power project after the Central Electricity Regulatory Commission (CERC) has set a precedent by allowing Adani Power’s plant in Mundra to pass through imported coal cost to power consumers.

Jet Airways: Some lenders to Jet Airways have demanded more pledged shares of founder Naresh Goyal and planes owned by the airline as collateral for advancing further loans, even as the banks’ consortium remains sharply divided on additional debt assistance to Jet.

Cipla: The drug maker said it has inked a pact with Pulmatrix Inc to co-develop a formulation for the treatment of allergic bronchopulmonary aspergillosis (ABPA) in patients with asthma.

Hathway Cable: March quarter net profit came in at Rs 213 crore compared with a profit of Rs 12.62 crore in the year-ago quarter. The numbers were aided by a net deferred tax income of Rs 268 crore. Revenue fell to Rs 132 crore from Rs 146 crore a year-ago.

Tata Motors: After outbidding Mahindra & Mahindra in government tenders for electric vehicles, Tata Motors now plans to expand its offering in the passenger vehicle space with the widest portfolio.

TCS: India’s largest IT firm Tata Consultancy Services (TCS) is working with Israel’s finance ministry to build platforms that will make technology affordable for small banks in the country, a top company executive told ET.

Shriram Transport Finance (STFC): –The asset financing company has raised $500 million on Monday through offshore bonds. It received subscriptions which were double the actual size.

Cyient: Hyderabad-based IT firm Cyient said it has introduced services and solutions to facilitate communication service providers (CSPs) expedite 5G network rollouts globally.

Deepak Fertilisers and Petrochemicals Corporation: The company said it has started commercial production of nitric acid at Dahej facility in Gujarat, which has been set up with an investment of about Rs 550 crore.

Adhunik Metaliks: Liberty House Group has failed to pay the Rs 410-crore offer money for stressed steel company Adhunik Metaliks within the deadline set by the bankruptcy court. The UK-based conglomerate cited lack of statutory approvals for the delay, but some people close to lenders said it just could not secure funding.

Board meetings

Analyst calls
• Anand Rathi has retained buy rating on AIA Engineering with a target price of ₹2,218. Customers added in the gold, copper and platinum sectors should lead to healthy volume growth for AIA Engineering, said Anand Rathi. The higher entry barrier and deeper penetration are likely to keep good volume growth at least for the next five years, the brokerage added.

• Edelweiss has maintained reduce rating on Adani Power with a target price of ₹33 after the CERC approved the supplementary PPA for 2,000 MW capacity between GUVNL and Adani Power’s Mundra plant. CERC’s order comes as a big relief for the beleaguered Mundra plant and raises hopes of a successful resolution of the PPA with Haryana discom as well, said Edelweiss.

• Investec Securities has maintained buy rating on Kotak Mahindra Bank with a target price of ₹1,560 after the lender decided to reduce interest rates in the less than ₹0.1 million ticket savings deposits This comes as a surprise given that liquidity remains tight, deposits growth continues to lag advances growth and more importantly SA deposits are moving towards higher yielding term deposits, said Investec.

• UBS has maintained buy rating on Axis Bank and raised target price to ₹1,010 from ₹780. The brokerage expects Axis’ growth and profit differential with HDFC Bank to narrow over FY19-22, driven mainly by Axis’ favourable loan mix change, gains from its physical/digital network and lower credit costs.

• Edelweiss has initiated coverage on Amber Enterprises India with a target price of ₹1,050. Amber Enterprisesis the largest contract manufacturer of residential air conditioners in India, with 55% market share, said Edelweiss.

Bulk and Block Deals :

Blg Tickers Date Company Name Acquirer/Seller Buy /Sell Qty Traded Price
FI 15-Apr-19 Foods & Inns Ltd Meenu Aggarwal Sell 117,886 264.77
METROHL 15-Apr-19 Metropolis Healthcare Limited Smaller Cap World Fund Inc Buy 686,545 957.67
METROHL 15-Apr-19 Metropolis Healthcare Limited Bright Star Investments Private Limited Buy 700,000 948.39
RCOM 15-Apr-19 Reliance Communication Ltd Rattanindia Finance Private Limited Sell 44,885,489 2.49
SHRTL 15-Apr-19 Shreeji Translogistics Limited Overskud Multi Asset Management Private Limited Sell 20,000 135.00
SHREESH 15-Apr-19 Shreeshay Engineers Limited White Diamand Media And Advertisment Private Limited Buy 136,000 21.25
SHREESH 15-Apr-19 Shreeshay Engineers Limited Harsha Rajeshbhai Jhaveri Sell 136,000 21.25

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