YES Bank share price: Stocks in the news: Axis Bank, L&T, YES Bank, Adani Gas, RBL Bank, Cipla, ITI and Asian Paints

NEW DELHI: Nifty futures on the Singapore Exchange traded 4 points, or 0.03 per cent, higher at 12,144, indicating a flat start for Dalal Street.

HDFC Life, Nippon Life: HDFC Life Insurance Company, Biocon, Canara Bank, PNB Housing, Oriental Bank, Nippon Life Asset Management, JM FInancial and Cholamandalam Investment are some of the companies which will report Q3 earnings today.

Larsen & Toubro: Notwithstanding the challenges in project execution in the domestic market, engineering major Larsen & Toubro (L&T) on Wednesday reported a 15 per cent rise in its consolidated net profit at Rs 2,560.32 crore for quarter to December 2019, helped by higher revenues from international contracts.

YES Bank: State Bank of India’s chairman Rajnish Kumar said YES Bank ‘will not be allowed to fail.’ Kumar told Bloomberg that he’s certain “some solutions will emerge” to steady Yes Bank , which has been on a prolonged quest to raise new capital.

Axis Bank: The private sector lender reported a 4.5 per cent year-on-year jump in net profit at Rs 1,757 crore for the third quarter ended December 2019. The company had posted a net profit of Rs 1,680.85 crore in the corresponding quarter last year.

Asian Paints: The paints company reported a 20 per cent rise in its consolidated net profit at Rs 764 crore for the quarter ended December 31 as compared to Rs 636 crore in the corresponding quarter of previous fiscal.

Vodafone Idea, Bharti Airtel: Vodafone Idea informed the Department of Telecommunications (DoT) it will wait for the Supreme Court’s decision on the adjusted gross revenue (AGR) modification pleas, implying that it won’t make any payments to the government by the January 23 deadline. Bharti Airtel is expected to follow suit.

RBL Bank: Exposures to stressed corporates continued to haunt small-sized private sector lender RBL Bank which reported a massive 69 per cent dip in its December quarter net profit at Rs 69.9 crore on Wednesday.

IOC, PFC, NHPC and Cohin Shipyard: The Nifty CPSE index revision will be effective from January 23. IOC and PFC will exit the index while Power Grid, NHPC, NMDC and Cochin Shipyard will be included.

Oil India, GAIL and Power Grid: At least five non-telecom PSUs, including GAIL, Power Grid and Oil India, have either filed or are in the process of filing separate applications in the Supreme Court, seeking clarification on the applicability of the AGR order.

Cipla: Drug firm Cipla said it has received observations from the USFDA for its Goa manufacturing facility. It further said that the developments will not have any material impact on the company’s US business at this stage.

Adani Gas: The company will invest up to Rs 9,000 crore in setting up city gas distribution network over the next 10 years to retail CNG to automobiles and piped cooking gas to households in those areas where it won licences in the recent bidding round, its CEO Suresh Manglani said.

Religare Enterprises: The Economic Offences Wing (EOW) of the Delhi Police is probing the role of top executives at Religare Enterprises (REL) and its lending arm, Religare Finvest (RFL), in allegedly facilitating approval of hundreds of crores of loans to some shell companies with little scrutiny.

Tata Communications: The company, in which the government holds 26.12 per stake, said that it has made no provision for the telecom department’s demand of Rs 6,633 crore for AGR dues as the Supreme Court order did not include appeal of the company which is still pending before the court.

AU Small Finance Bank: The SFB reported doubling of its net profit to Rs 190.19 crore for the quarter ended December 2019, helped by higher income. The company had clocked a net profit of Rs 95.33 crore during the same period a year ago, AU Small Finance Bank said in a BSE filing.

Ujjivan Small Finance Bank: Small finance lender Ujjivan Small Finance Bank said its profit doubled to Rs 90 crore in October-December 2019, helped by improvement in operational efficiency, stable margins and cost controls.

ITI: State-owned ITI fixed a price band of Rs 72-77 a share for its follow-on public offer, which will hit the capital markets on Friday.

Tata Motors: The auto maker has four new products lined up for the next financial year addressing a wide segment of Indian market, from Rs 5 lakh to Rs 25 lakh price spectrum.

Ballarpur Industries: Thapar Group flagship Ballarpur Industries or BILT has been taken to the bankruptcy court by lenders led by nonbanking finance company Finquest Financial Solutions.

NBCC: The company, which was selected to acquire the debt-hit realty developer Jaypee Infratech, is ready with the backup plan in case it did not get Rs 750 crore of Jaiprakash Associates.

Bharti Airtel: The company has partnered with Western Union, the leading US-based global money transfer company, to launch real-time cross-border money movement in India and Africa

Syngene International: The company reported 6 per cent rise in consolidated net profit to Rs 92 crore for December quarter 2019-20. The company had posted a profit of Rs 87 crore for the year-ago period, Syngene International said in a filing to the BSE.

MOFS: Diversified financial services company Motilal Oswal Financial Services (MOFS) on Wednesday reported an over four fold increase in its consolidated net profit at Rs 165 crore in the quarter ended December, driven by healthy growth in broking and asset management businesses.

CEAT: Tyre maker Ceat on Wednesday reported a marginal increase in consolidated net profit at Rs 52.5 crore for December quarter 2019-20. The company had posted a profit of Rs 52.25 crore in the same period a year ago, Ceat said in a regulatory filing.

ANALYST CALLS

Newgen Software: Jefferies has maintained buy rating on Newgen Software and raised target price to ₹305 from ₹290. The brokerage has raised its revenue growth and margin estimates for FY20 to reflect a better third quarter and improved commentary.

Can Fin Homes: Investec has maintained buy ratig on Can Fin Homes and raised target price to ₹530 from ₹430. Can Fin reported strong third quarter earnings due to a positive surprise on margins, said Investec. Further rerating is possible only if the loan book growth improves to 20% and margins improve from current levels, said Investec.

Havells India: Credit Suisse has maintained neutral rating on Havells India and cut target price to ₹615 from ₹700. Havells’ third quarter earnings were significantly below estimates with revenues declining 10% and profit before tax falling 20%, said Credit Suisse.

Hindustan Zinc: Kotak Institutional Equities has maintained reduce rating on Hindustan Zinc and revised fair value to ₹210 from ₹205 due to rolling forward of estimates to September 2021. The company’s EBITDA in Q3 was 3% below estimates led by persistent volume disappointment, said the brokerage.

UPL: CLSA has maintained buy rating on UPL with a buy rating and target price of ₹720. Its strong positioning along with synergies from the Arysta acquisition makes UPL wellplaced to gain in Latin America and other markets, said CLSA. Over FY20-22, CLSA estimates an CAGR of 8.7% in revenue, 11% in Ebitda and 20% in profit.

Board MEETINGS TODAY

Insider Buys:

  • Banka BioLoo Limited: Sanjay Banka has bought 465,600 shares through Inter-se-Transfer on Jan 10, 2020.

Insider Sells:

  • Banka BioLoo Limited: Namita Sanjay Banka has sold 465,600 shares through Inter-se-Transfer on Jan 10, 2020.
  • Central Depository Services (India) Limited: Union Bank of India has sold 51,343 shares through Market Sale from Jan 17, 2020 to Jan 20, 2020.

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
AOS 22-Jan-20 Asian Oilfield Services Ltd Prasoon Harshad Bhatt Huf Buy 300,600 103.96
AOS 22-Jan-20 Asian Oilfield Services Ltd Sammys Dreamland Co Pvt Ltd Sell 289,613 104.00
CARE 22-Jan-20 CARE Ratings Limited Aditya Birla Sun Life Mutual Fund-pure Value Fund Buy 300,000 658.00
CARE 22-Jan-20 CARE Ratings Limited Aditya Birla Sun Life Mutual Fund – Aditya Birla Sun Life Small Cap Fund Buy 150,000 658.00
CARE 22-Jan-20 CARE Ratings Limited Stichting Pensioenfonds Abp Sell 800,000 658.03
CONTI 22-Jan-20 Continental Seeds and Chemicals Limited Kaushalya Garg Sell 52,000 58.70
INBT 22-Jan-20 InfoBeans Technologies Limited Mukul Agrawal Buy 202,500 70.00
INBT 22-Jan-20 InfoBeans Technologies Limited Indo Thai Securities Ltd. Sell 200,000 70.00
INTEC 22-Jan-20 Intense Technologies Ltd Krishni Devi Goenka Buy 220,000 28.90
INTEC 22-Jan-20 Intense Technologies Ltd Akg Finvest Limited Sell 240,000 28.90
JUMPNET 22-Jan-20 JUMP NETWORKS LIMITED Arcadia Share & Stock Brokers Pvt. Ltd. Buy 600,000 54.18
OTRI 22-Jan-20 Oriental Trimex Ltd Capston Capital Partners Buy 361,000 10.25
OTRI 22-Jan-20 Oriental Trimex Ltd Dhanaasha Marketing Private Limited Sell 360,989 10.25
SITL 22-Jan-20 STARCOM INFORMATION TECHNOLO Heshika Growth Fund Buy 77,500 203.10
SITL 22-Jan-20 STARCOM INFORMATION TECHNOLO Antara India Evergreen Fund Ltd Buy 77,500 203.10
SITL 22-Jan-20 STARCOM INFORMATION TECHNOLO Plutus Terra India Fund Sell 154,621 203.10
SICL 22-Jan-20 Sical Logistics Ltd Yes Bank Ltd Sell 448,265 13.49
SRL 22-Jan-20 Speciality Restaurants Limited Gunavanti Pratapbhai Kotak Buy 450,000 67.06
SRL 22-Jan-20 Speciality Restaurants Limited Paradice Global Small Mid Cap Fund Sell 1,243,512 67.87
SPENCER 22-Jan-20 Spencers Retail Limited Millennium Stock Broking Pvt Ltd Sell 52,436 97.46
VMART 22-Jan-20 V-Mart Retail Limited Pca Asia Pacific High Yield Equity Fund Buy 228,029 1885.00
VMART 22-Jan-20 V-Mart Retail Limited Steadview Capital Mauritius Limited Sell 312,816 1885.00

Note: Insider Buy/Sell is as defined by SEBI Insider Trading Regulations, 1992 Bulk Deal is defined as any trade in which quantity transacted is more then 0.5% of the companies equity shares listed on the exchanges. The above mentioned data is not completely Extensive as relatively smaller trades have been excluded. (Edelweiss Alternative Research)

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